Update on Sky Mall

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

05 May 2021

Arricano Real Estate Plc

("Arricano" or the "Company")

Notice of dispute between certain Arricano shareholders and the Government of Ukraine

Arricano has been made aware of a notice of dispute having been served on behalf of certain current and former Estonian significant shareholders of the Company against the Government of Ukraine under an agreement between the Government of the Republic of Estonia and the Government of Ukraine for the Promotion and Reciprocal Protection of Investments. The dispute relates primarily to an alleged loss of value in excess of US$750 million as a result of the disputed ownership of the Sky Mall shopping centre, most recently the subject of an announcement by the Company on 14 April 2021.

Arricano wishes to clarify that it is not a party to the notice of dispute.

A further announcement will be issued 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