NOTIFICATION OF MAJOR HOLDINGS

22 Jan 2025 09:56 CET

Reference is made to the stock announcement published by Pioneer Property Group
ASA (the "Company") earlier today, 22 January 2025, regarding registration of
the share capital reductions (the "Capital Reduction") resulting in the share
capital of the Company being NOK 10,898,975 divided into 6,530,422 ordinary
shares and 4,368,553 preference shares, each with a nominal value of NOK 1.

As a consequence of the Capital Reduction, the below shareholders have passively
crossed thresholds for mandatory notification:

- Hospitality Invest AS holds 3,201,926 votes in the Company and 3,201,926
ordinary shares, and will due to the Capital Reduction increase its holding of
votes from 31.08% to 45.96% and holding of share capital from 21.08% to 29.38%.

- Klevenstern AS, a company controlled by Kristian Adolfsen, holds 1,549,214
votes in the Company and will due to the Capital Reduction increase its holding
of votes from 15.04% to 22.24%.

- Mecca Invest AS, a company controlled by Roger Adolfsen, holds 1,549,214 votes
in the Company and will due to the Capital Reduction increase its holding of
votes from 15.04% to 22.24%.

- Grafo AS, a company controlled by Even Carlsen, no longer holds any shares in
the Company. Grafo AS previously held 1,642,024 votes in the Company and
1,642,024 ordinary shares, equal to approx. 15.94% of the votes and 11.18% of
the share capital.

- Eidissen Consult AS, no longer holds any shares in the Company. Eidissen
Consult AS previously held 1,642,024 votes in the Company and 1,642,024 ordinary
shares, equal to approx. 15.94% of the votes and 11.18% of the share capital.

This announcement is subject to disclosure under the Norwegian Securities Act
Section 4-2.

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