Pioneer Property Group ASA

Report Publication Announcement • Aug 25, 2015

REPORT FOR Q2 AND THE FIRST HALF OF 2015

REPORT FOR Q2 AND THE FIRST HALF OF 2015

August 24, 2015

The Board of Directors of Pioneer Property Group ASA has

approved the unaudited group financial results for the second

quarter and first half year of 2015. See the attached document

including the report and financial figures.

Key highlights of the Q2/2015 report:

- Pioneer Property Group ASA ("PPG") was established on May 12th

as a result of the acquisition of four separate property

portfolio companies.

- During the quarter PPG issued MNOK 650 in preference shares

and these shares were listed on the Oslo Axess stock exchange in

June.

- To further strengthen the Company's balance sheet a private

placement of MNOK 90 ordinary shares was completed.

- Total revenues in the quarter amount to MNOK 27.2, and pre-tax

loss MNOK -5.3 (from the period of the Group's establishment 12

May to the end of the quarter 30 June). The negative bottom line

was in line with expectations and a result of non-recurring IPO-

related costs in the period.

- The company had total assets of MNOK 3,682, where Investment

Property (112 preschools) were valued at MNOK 3,441 and with a

cash balance of MNOK 206. Total debt was MNOK 2,055 and total

equity of MNOK 1,627.

Contact persons:

Runar Rønningen (CEO) - tlf 90690038

Martin P. Hoff (CFO) - tlf 47214721