Pioneer Property Group ASA

Major Shareholding Notification • Nov 18, 2019

PIONEER PROPERTY GROUP ASA: MANDATORY NOTIFICATION OF TRADE BY PRIMARY INSIDERS AND DISCLOSURE OF SHARES ("FLAGGING")

PIONEER PROPERTY GROUP ASA: MANDATORY NOTIFICATION OF TRADE BY PRIMARY INSIDERS AND DISCLOSURE OF SHARES ("FLAGGING")

PIONEER PROPERTY GROUP ASA: MANDATORY NOTIFICATION OF TRADE BY PRIMARY INSIDERS AND DISCLOSURE OF SHARES ("FLAGGING")

Reference is made to the stock exchange announcement published on 14 November 2019 by Pioneer Property Group ASA ("PPG") regarding the contemplated buy-back of own preference shares, and the stock exchange announcement published earlier today, 18 November 2019, regarding the status of the book building process.

The following primary insiders, and close associates of primary insiders, of PPG have today sold preference shares in PPG to PPG at a purchase price of NOK 102.00 per preference share:

- Roger Adolfsen (chairman of the board of directors) has through his wholly owned company Mecca Invest AS sold 110,187 preference shares and will, following the transaction hold 1,417,852 ordinary shares and 5,628 preference shares in PPG, corresponding to 8.73% of the shares and 13.55% of the votes in PPG. In addition, Roger Adolfsen holds (i) 25% of the shares in Acea Properties AS, which directly and indirectly sold 34,903 preference shares (and after the transaction directly and indirectly owns 0 ordinary shares and 20,857 preference shares in PPG, corresponding to 0.13% of the shares and 0.02% of the votes in PPG), and (ii) approximately 46% of the shares in Hospitality Invest AS, which directly and indirectly sold 14,723 preference shares (and after the transaction directly and indirectly owns 3,431,994 ordinary shares and 752 preference shares in PPG, corresponding to 21.04% of the shares and 32.80% of the votes in PPG). Roger Adolfsen and Kristian Adolfsen will following the share buy-back directly and indirectly control 6,267,698 ordinary shares and 32,379 preference shares in PPG, corresponding to 38.62% of the shares and 59.93% of the votes in PPG.

- Even Carlsen (member of the board of directors) has through his wholly owned company Grafo AS sold 155,309 preference shares and will, following the transaction hold 1,773,386 ordinary shares and 171,175 preference shares in PPG, corresponding to 11.92% of the shares and 17.11% of the votes in PPG. In addition, Even Carlsen holds 25% of the shares in Acea Properties AS, which directly and indirectly sold 34,903 preference shares (and after the transaction directly and indirectly owns 0 ordinary shares and 20,857 preference shares in PPG, corresponding to 0.13% of the shares and 0.02% of the votes in PPG).

In addition, Eidissen Consult AS has directly and indirectly sold 300,355 preference shares in connection with the share buy-back at a price of NOK 102.00 per preference share. As a result, Eidissen Consult AS' shareholding has been reduced from 15.99% to 14.15% of the share capital, and has hence passed the threshold of 15% with respect to the share capital. Following the transaction, Eidissen Consult AS will hold directly and indirectly 1,773,386 ordinary shares and 534,415 preference shares in PPG (corresponding to 14.15% of the share capital and 17.46% of the votes).

For further information, please contact:

Ole-Kristofer Bragnes, CFO

Telephone: +47 917 03 415

E-mail: IR@pioneerproperty.no