Arco Vara — Board/Management Information 2020

Nov 30, 2020

Company Type Category Disclosure time Arco Vara AS Company Release Other corporate action 30 Nov 2020 14:28:10 +0200

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Kaloyan Radosslavov is appointed the new manager of Arco Vara Bulgaria Title

The Management Board of Arco Vara AS dismissed Ivaylo Mishev from the position of manager Arco Vara Group's Bulgarian entities (Arco Vara Bulgaria EOOD, Iztok Parkside EOOD, Arco Invest EOOD, Arco Lozen EOOD, Arco Manastirski EOOD) and elected as new manager Kaloyan Radosslavov. The Management Agreement with the new manager has been concluded for 3 years.

Kaloyan Radosslavov joined the team of Arco Vara in 2018 and in a short period of time successfully turned around the Madrid project into a profitable enterprise for the group. The main responsibilities before the new manager will be to complete all ongoing projects in Bulgaria, initiate new developments, diversify the real estate portfolio and increase the overall profitability of the Bulgarian arm of the group.

Prior to joining Arco Vara, Kaloyan worked as a lawyer in New York, USA. He graduated from Fordham University in New York, USA with a Juris Doctor (JD) and a Master of Business Administration (MBA) degrees. Kaloyan is an avid tennis player and has a strong intertest in local and international politics.

Kaloyan Radosslavov is in the Management Board of Royal Invest Group OOD (company registered in Bulgaria) and Royal 2017 EOOD (company registered in Bulgaria).

The new manager does not own any shares of Arco Vara AS.

Miko-Ove Niinemäe CEO Arco Vara AS Tel: +372 614 4630 miko.niinemae@arcovara.com

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