Pioneer Property Group ASA

Report Publication Announcement • Aug 14, 2020

PPG Half-Yearly Financial Report 2020

PPG Half-Yearly Financial Report 2020

Please find attached the half-yearly financial report for 2020 for Pioneer Property Group ASA (PPG PREF).

Highlights for Pioneer Property Group ASA:

- Total revenue from continued operations for the first half of 2020 was MNOK 6.0 compared to MNOK 0.2 for the first half of 2019

- Operating profit (EBIT) for the first half of 2020 was a negative MNOK 1.3 compared to a negative MNOK 2.4 for the first half of 2019

- PPG received the full earn-out consideration from the sale of PPP and PM of MNOK 100

- PPG purchased 987,966 preference shares in PPG in March 2020 at a price of NOK 102 per preference share

- PPG acquired bonds in Norlandia Health & Care Care Group ASA (NHC01 and NHC02) and Hospitality Invest AS (HOIN02) with par values of MNOK 196.0 (NHC01), MSEK 134.0 (NHC02) and MNOK 50.0 (HOIN02)

- PPG paid two quarterly dividends to the holders of preference shares in total NOK 3.75 per preference share and an extraordinary dividend to the holders of the ordinary shares in total of NOK 20.38 per ordinary share charged to the company's share premium reserves

For further information, please contact:

Ole-Kristofer Bragnes, CFO

Telephone: +47 917 03 415

E-mail: IR@pioneerproperty.no