Pioneer Property Group ASA

CONTEMPLATED SALE OF UP TO 500,000 SHARES IN PIONEER PROPERTY GROUP ASA

Hospitality Invest AS and Norlandia Care Group AS, a

company controlled by Hospitality Invest AS, (together

the "Vendor"), have retained Pareto Securities AS as

sole bookrunner to explore the opportunity to sell up

to 500,000 shares in Pioneer Property Group ASA ("PPG

PREF" or the "Company") through an accelerated

bookbuilding process (the "Placing").

The bookbuilding process will commence immediately

following the publication of this announcement and may

be closed at short notice. A further announcement will

be made following pricing of the sale. The Vendor

reserves the right, at its own discretion, to sell

fewer shares or no shares at all.

As of today, the Vendor owns 790,835 shares in PPG

PREF (directly and indirectly), representing 12.17

percent of the outstanding preference shares in the

Company. Assuming that all shares offered in the

Placing are sold the Vendor will hold 290,835

preference shares in the Company.

Roger Adolfsen, who is a major shareholder in

Hospitality Invest AS, holds the position as Chairman

of the Board of Pioneer Property Group ASA and is

defined as primary insider subject to disclosure

duties under the Norwegian Securities Trading Act

Section 4-2.

For further information, please contact:

Pareto Securities AS,

+47 22 87 87 50

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