Pioneer Property Group ASA

PPG Half-Yearly Financial Report 2024

Please find attached the half-yearly financial report for 2024 for Pioneer Property Group ASA (PPG).

Highlights of the half-yearly 2024 report:

• Contractual rental income for the first half of 2024 was MNOK 49.0 compared to MNOK 49.8 for the

first half of 2023.

• Operating profit (EBIT) for the first half of 2024 was MNOK 44.1 compared to MNOK 61.6 for the first

half of 2023.

• PPG paid two quarterly dividends to the holders of preference shares, in total NOK 5.00 per

preference share. A dividend of NOK 6.09, in total MNOK 20.0 were paid to the ordinary shares held

by Eidissen Consult and Grafo.

• The premises build for Ferda in Evenes was completed in April 2024.

• Thon Partner Forum Hotel Forum, which has been undergoing a renovation program in 2023/2024 at a

cost of MNOK 70, is fully renovated and provides increased rent levels and is expected to generate an

annual lease income of MNOK 15.

• 50% of the shares in an Joint Venture company owning an hotel in Tjøme was acquired in May. The

hotel will undergo refurbishment in 2H 2024 and 1H 2025.

For further information, please contact:

Øystein Grini, CFO

Telephone: +47 46 29 67 19

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