AS Pro Kapital Grupp (Pro Kapital) informed that on 31 December 2021 the term of office ends for two current Members of the Board - Paolo Michelozzi and Edoardo Preatoni. From 1 January 2022 Paolo Michelozzi is stepping down as the group’s CEO, but is estimated to remain with the group as its COO to focus on residential real estate developments. Paolo Michelozzi will not continue as a member of the Management Board of AS Pro Kapital Grupp, but is estimated to remain active in the Management Boards and Supervisory Councils of group subsidiaries. From 1 January 2022 Edoardo Preatoni is appointed as the new CEO of AS Pro Kapital Grupp and his term of office is extended until 31 December 2024. From 1 January 2022, the Management Board of AS Pro Kapital Grupp shall continue in the following composition: Edoardo Axel Preatoni (CEO) and Angelika Annus (CFO). The Management Boards and Supervisory Councils of AS Pro Kapital Group subsidiaries are estimated to continue in currently established compositions.