Arco Vara

Board/Management Information • Oct 28, 2025

Christian Petrov Appointed as the Head of Arco Vara’s Bulgarian Operations

Christian Petrov Appointed as the Head of Arco Vara’s Bulgarian Operations

Following the departure of Arco Vara Bulgaria's former Managing Director, Daniel
Yordanov, Arco Vara AS has appointed Christian Petrov as the new head of its
Bulgarian subsidiaries.

The main responsibility of the new manager is to ensure the smooth continuation
of the Bulgarian subsidiaries' daily operations and to support Arco Vara's
strategic goal of gradually concluding its activities on the Bulgarian market,
including overseeing the ongoing sales process and asset realization. At the
same time, the development activities in Bulgaria continue as planned - the
projects are progressing according to the established schedule, and the new
manager's task is to ensure their proper and effective execution until the
completion of the exit process.

Christian Petrov will serve on the management boards of all Arco Vara's
Bulgarian subsidiaries.

Christian Petrov is a real estate professional with extensive experience in
structuring and implementing complex projects. His expertise lies in financing
and transforming existing commercial assets into high-value residential
developments. Previously, he has worked in the public sector, dealing with urban
transport, energy efficiency, and local authorities.

Christian Petrov does not hold any shares in Arco Vara AS.

In July this year, Arco Vara AS announced its intention to concentrate its focus
on its core market - real estate development projects located in Estonia. The
company will continue to keep investors and the public informed about the
progress of related negotiations and will provide additional information once
the transactions or other material developments reach the next stage.

Darja Bolshakova
CFO
Arco Vara AS
[email protected] (mailto:[email protected])