Arco Vara — Board/Management Information 2025

May 5, 2025

Darja Bolshakova Appointed as Chief Financial Officer of Arco Vara as of May 5, 2025

Darja Bolshakova Appointed as Chief Financial Officer of Arco Vara as of May 5, 2025

The Management Board of Arco Vara AS has appointed Darja Bolshakova as the new
Chief Financial Officer of the Group.

Darja Bolshakova brings 15 years of experience in the financial sector. She has
held senior positions at companies such as BaltCap AS, Skinest Grupp AS, and
SAGA Family Office, where she was responsible for financial reporting,
developing investment strategies, fund administration, and M&A transactions.
Bolshakova holds a master's degree in finance from the University of Tartu.

Kristina Mustonen, CEO of Arco Vara AS, commented: "Darja's thorough financial
expertise and diverse experience in various sectors, including real estate
development, private equity, and international investment portfolios, were
decisive in her selection. I believe that strong financial leadership is the
cornerstone of the company's growth and stability. Darja's analytical skills and
experience in making value-based decisions will provide a solid foundation for
the company's sustainable growth."

Darja Bolshakova will also become a Management Board member in all Estonian
subsidiaries of Arco Vara AS.

Kristina Mustonen
Member of the Management Board

Arco Vara AS
+372 6144 630
[email protected]