Pioneer Property Group ASA

Share Issue/Capital Change • Feb 26, 2020

PIONEER PROPERTY GROUP ASA: NEW SHARE CAPITAL REGISTERED

PIONEER PROPERTY GROUP ASA: NEW SHARE CAPITAL REGISTERED

Reference is made to the stock exchange announcement published on 8 January 2020 by Pioneer Property Group ASA ("PPG") regarding an extraordinary general meeting held in PPG, in which the extraordinary general meeting approved to decrease PPG's share capital with NOK 1,631,447, from NOK 16,314,470 to NOK 14,683,023, by redemption of 1,631,447 of PPG's own preference shares.

The share capital decrease has today been registered with the Norwegian Register of Business Enterprises. PPG's new share capital is NOK 14,683,023 divided into 9,814,470 ordinary shares and 4,868,553 preference shares, each with a nominal value of NOK 1.00.

For further information, please contact:

Ole-Kristofer Bragnes, CFO

Telephone: +47 917 03 415

E-mail: IR@pioneerproperty.no