Arco Vara — Capital/Financing Update 2022

Dec 14, 2022

Company Type Category Disclosure time Arco Vara AS Company Release Other corporate action 14 Dec 2022 09:00:00 +0200

Currency

Arco Vara bond issue Title

Arco Vara AS conducted a bond issue as a result of which bonds in the amount of 2,120,000 euros were issued.

The issue date of the bonds is 14 December 2022 and the maturity date is 13 December 2024. 212 bonds were issued in the nominal value of 10,000 euros with interest rate 10% per year. The issued bonds were not guaranteed. The issued bonds have been paid for in full. The bond issue was conducted in accordance with Article 1 of Regulation (EU) 2017/1129 of the European Parliament and of the Council and was not public.

Bonds were subscribed for by 21 investors. All subscription applications were satisfied. No related parties were among the investors.

Proceeds of the bond issue will be used for financing the development of Kodulahe Kvartal project.

The originally planned amount of bonds was reduced by 80,000 euros, because this amount was formalized as a loan received in response to the investor's request. The interest terms of the loan are the same as the terms of the bond.

On 13 December 2022, Arco Vara AS redeemed on time the existing bonds with 2 year term and 10% annual interest in the aggregate amount of 1,780,000 euros.

Tiina Malm CFO Arco Vara AS Tel: +372 614 4630 tiina.malm@arcovara.com (https://www.globenewswire.com/Tracker?data=r3a_Jpj17cfdSxB2Ctcc2ZwCDU1UPe45pNvN gPXr8LI8vqTYotwly4sFXaMskCIMHt7W8mAOBniwIsoBnfCFyMdvK2ph4yrggrzZSKCtGSA=)

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