Pioneer Property Group ASA

Share Issue/Capital Change • Jun 18, 2015

Completes the initial public offering of preference shares and fulfils the requirements to list on Oslo Axess

Completes the initial public offering of preference shares and fulfils the requirements to list on Oslo Axess

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Pioneer Property Group ASA - Completes the initial public

offering of preference shares and fulfils the requirements

to list on Oslo Axess

Oslo, 18 June 2015 - Pioneer Property Group ASA ("PPG", the

"Company") announces the completion of the initial public

offering of preference shares as further described in the

Prospectus dated 3 June 2015 (the "Offering"). As a follow-

up to the successful pre-IPO private placement of 3.7

million preference shares with leading Scandinavian

institutional investors the Offering was carried out to

broaden the Company's shareholder base and secure the

minimum number of shareholders required to list on Oslo

Axess. To improve PPG's financial structure the Company has

over the past two months issued NOK 650m in preference

shares, allocated to internal and external investors through

the pre-IPO placement and the Offering.

A total of 668 714 preference shares were allotted in the

Offering, of which 503 500 of the preference shares were

allotted to investors in the institutional tranche and 165

214 of the preference shares were allotted to investors in

the retail tranches. Following completion of the Offering,

the Company will have in excess of 200 shareholders. The

condition set by the Board of Directors of Oslo Børs that

the company prior to the first day of listing of its

preference shares on Oslo Axess must satisfy the requirement

for the number of shareholders as set out in Section 2.4.2

of the Oslo Axess Listing Rules is accordingly satisfied.

The application period for the Offering expired at 12:00

(CET) on 17 June 2015 (retail tranches) and at 14:00 (CET)

on 17 June 2015 (institutional tranche).

The Board of Directors of the Company and the selling

shareholders have today approved the allocation of the

preference shares offered in the Offering in accordance with

the allocation criteria set out in the prospectus dated 3

June 2015 (the "Prospectus").

Notifications of allocated preference shares in the Offering

and the corresponding amount to be paid by each applicant

are expected to be distributed today. Payment for the

allocated preference shares falls due on 19 June 2015 for

the retail tranches and 22 June 2015 for the institutional

tranche in accordance with the payment procedures described

in the Prospectus.

The following table gives an overview of the preference

shares sold by each selling shareholder in the Offering and

the selling shareholders' ownership position following the

Offering.

The table below consists of the following: 1) Name of

shareholder, 2) No. of preference shares sold in the

Offering, 3) No of preference shares held following the

Offering, 4) % of voting rights in the Company following the

Offering (based on total holdings of preference shares and

ordinary shares), 5) % of share capital in the Company

following the Offering (based on total holdings of

preference shares and ordinary shares)

Hospitality Invest AS* 58714 0** 21.0% 14.7%

Kidprop AS* 176718 0 0% 0%

Acea Properties AS* 344933 36686 0.04% 0.22%

Kidsa Drift AS* 88349 0 0% 0%

Norlandia Care Group AS* 0 869369 19.6% 17.4%

Eidissen Consult AS 0 227002 13.8% 10.1%

Grafo AS 0 227002 13.8% 10.1%

Klevenstern AS* 0 185232 13.7% 9.8%

Mecca Invest AS* 0 185232 13.7% 9.8%

PCP AS* 0 185333 0.2% 1.1%

* Companies controlled by Roger Adolfsen (Chairman of the

board of directors) and/or Kristian Adolfsen.

**In addition to the preference shares sold in the Offering,

Hospitality Invest AS has transferred 215 430 preference

share to its 100% owned subsidiary HI Capital AS. These

shares are included in the calculation of ownership% and

voting% for Hospitality Invest AS.

There are no changes to the holdings of ordinary shares from

what was disclosed in the Prospectus. None of the selling

shareholders hold any rights to preference shares or rights

to ordinary shares in the Company.

Trading in the preference shares of Pioneer Property Group

ASA on Oslo Axess is expected to commence on 19 June 2015.

Please refer to the Prospectus for further information about

the Offering.

Enquiries

Martin P. Hoff, CFO - +47 47214721

www.pioneerproperty.no

This information is subject to the disclosure requirements

pursuant to section 5-12 of the Norwegian Securities Trading

Act.