A null reference (Nothing in Visual Basic) is passed to a method that does not accept it as a valid argument.

This is a usage error, i.e. it will never occur (the exception will not be thrown) in a correctly written program. Your code should not catch this exception.

The OPC UA operation has failed. This operation exception in uniformly used to allow common handling of various kinds of errors. The System.Exception.InnerException always contains information about the actual error cause.

This is an operation error that depends on factors external to your program, and thus cannot be always avoided. Your code must handle it appropriately.