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

29 March 2021

Arricano Real Estate Plc

(together with its subsidiaries "Arricano")

Amendment to the loan agreement

Arricano (AIM: ARO), a leading real estate developer and shopping mall operator in Ukraine, is pleased to announce the following update relating to its current loan facility with the TASCOMBANK JSC.

PRIVATE JOINT-STOCK COMPANY "UKRPANGROUP", a subsidiary of Arricano, on 26 March 2021, entered into an amendment to the current USD 12.0 million loan agreement with TASCOMBANK JSC to decrease the interest rate from 9.75% to 8% per annum. The loan is repayable in June 2024.

Enquiries:

Arricano Real Estate plc                                Tel: +357 25 582 535

Ganna Chubotina

Nominated Adviser and Broker:                 Tel: +44 (0)20 7220 1666

WH Ireland Limited

Chris Fielding

Financial PR:                                                Tel: +44 (0)20 3151 7008

Novella Communications Limited

Tim Robertson/ Fergus Young