Pioneer Property Group ASA

Capital/Financing Update • Jun 10, 2016

Successfully completed bond issue

Successfully completed bond issue

With reference to the stock exchange notice on 7 June 2016,

Pioneer Public Properties AS, a wholly owned subsidiary of

Pioneer Property Group ASA, has successfully completed a NOK

1,000 million senior unsecured bond issue with maturity in

May 2021. The bond issue was oversubscribed. Settlement date

is expected to be 1 July 2016. The proceeds will be used to

partly refinance existing financial indebtedness included

two bonds of the subsidiaries Pioneer Public Properties II

AS and Pioneer Public Properties III AS as further described

in the stock exchange notice on 7 June 2016, and the

remainder to be used for general corporate purposes.

An application will be made for listing of the bonds on Oslo

Stock Exchange.

Pareto Securities acted as manager for the bond issue.

For further information, please contact:

Pioneer Property Group ASA

Runar Rønningen, CEO

+47 90690038

runar@pioneerproperty.no

Martin P. Hoff, CFO

+47 47214721

martin@pioneerproperty.no