Reference is made to the stock exchange announcement published on 9 October 2019
by Pioneer Property Group ASA ("PPG") regarding the agreement entered into by
PPG regarding the sale of Pioneer Public Properties AS ("PPP") and Pioneer
Management AS to Odin Bidco AS, and the stock exchange announcement published on
24 October 2019 by PPG regarding the successful completion of said sale. 

In the sale and purchase agreement, the parties agreed that PPG shall be
entitled to an earn-out consideration of up to NOK 100 million. The earn-out was
conditional upon the future development of the PPP group.
Based on the development of the PPP group, payment of the full earn-out
consideration of NOK 100 million has been triggered and will be paid by the
buyer. 

For further information, please contact:
Ole-Kristofer Bragnes, CFO
Telephone: +47 917 03 415 
E-mail: IR@pioneerproperty.no

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