Pioneer Property Group ASA

Major Shareholding Notification • Sep 19, 2017

Notification of trade / shareholder disclosure

Notification of trade / shareholder disclosure

Klevenstern AS, an investment company controlled by Kristian

Adolfsen, has today sold 50,000 preference shares in Pioneer

Property Group ASA in the market at a share price of NOK 100.75 per

share. As a result, Klevenstern AS will decrease its holding of

preference shares from 240,832 to 190,832. Klevenstern AS also owns

1,417,852 ordinary shares. After the transaction, Klevenstern AS

will reduce its direct ownership from 10.2% to 9.9% of the total

shares in PPG (ordinary and preference shares combined), and hold

2.9% of the preference shares and 13.7% of the total voting capital

(accounting for the 1/10th voting right of the preference shares).

In addition, through its 45% ownership of Hospitality Invest AS,

Klevenstern AS indirectly owns 1,556,752 ordinary shares and 50,561

preference shares. Klevenstern AS' total direct and indirect

ownership in the Company after this transaction is therefore 19.9%

of the total shares ((ordinary and preference shares combined), and

28.6% of the total voting capital (accounting for the 1/10th voting

right of the preference shares).