Update on Sky Mall

30 March 2021

Arricano Real Estate Plc

(together with its subsidiaries, "Arricano")

Update re Sky Mall criminal proceedings

On 5 May 2016, as previously announced, the London Court of International Arbitration rendered its final award on the dispute between Arricano and Stockman Interhold S.A. ("Stockman") concerning the title to the shares in Assofit Holdings Limited ("Assofit"), a holding company which previously owned the Sky Mall shopping centre in Kyiv, Ukraine.

According to that award, the ownership of all shares in Assofit previously held by Stockman, should have been transferred to Arricano for nil consideration. However, Stockman failed to comply with that award and Assofit was stripped off its interests in Sky Mall.

Arricano announces that, on 27 March 2021, the Kyiv Appellate Court published an order that the ownership of Sky Mall be completely frozen pending the determination of the ongoing criminal proceedings in Ukraine relating to Sky Mall.

A further update will be published when appropriate.

Enquiries:

Arricano Real Estate plc

Tel: +357 25 582 535

Ganna Chubotina

Nominated Adviser and Broker:

WH Ireland Limited

Chris Fielding

Tel: +44 (0)20 7220 1666

Financial PR:

Novella Communications Limited

Tim Robertson/ Fergus Young

Tel: +44 (0)20 3151 7008