Pioneer Property Group ASA

Capital/Financing Update • Nov 8, 2016

New bank financing of MNOK 495 in PPPI and PPPIV

New bank financing of MNOK 495 in PPPI and PPPIV

Pioneer Property Group ASA (PPG PREF) and Pioneer Public

Properties AS (PPU01) have today accepted an offer from DnB

to refinance existing secured debt in the two portfolio

companies Pioneer Public Properties I AS and Pioneer Public

Properties IV AS. The total new debt from DnB is a five-year

loan of MNOK 495 on a 20-year amortization profile. The

majority of the proceeds will be utilized to refinance bank

loans in PPPI and PPPIV of approx. MNOK 390, in addition to

adding debt financing to recently acquired preschool

properties - see the PPG PREF stock exchange notice from 15

Sept.