PGS ASA

Major Shareholding Notification • Dec 21, 2023

UBS Group AG Postfach 8098 Zürich Tel. +41-44-438 11 11

Global Shareholder Reporting Group Compliance, Regulatory & Governance

Nemanja Pantic Max-Högger-Strasse 80, 8048 Zurich Tel. +41-44-239 62 08 nemanja-n.pantic@ubs.com

www.ubs.com

Registered Strictly confidential

Oslo Børs Box 460 Sentrum 0105 Oslo Norway

December, 21 st 2023

PGS ASA - Disclosure of large shareholdings under the Securities Trading Act

Dear Sir or Madam,

We would like to inform you that UBS Group AG has crossed below 5% reportable threshold in equity shares of the total share capital in the issuer PGS ASA (NO0010199151). Please let this serve you as our disclosure as set forth below:

Name of the person obliged to notify:	UBS Group AG
Residing at:	Bahnhofstrasse 45 CH-8001 Zurich
Date of event:	20th December 2023
Event triggering the notification:	Disposal of shares
Total new holding:	80'967'021 representing 8.48% of the 955'310'440 voting rights and of the share capital out of which 34'656'439 shares equivalent to 3.63% and 46'310'582 equivalent to 4.85% held as financial instruments. The shares and financial instruments are held indirectly by UBS Group AG and directly by its subsidiaries: UBS AG, UBS Switzerland AG, UBS Asset Management (UK) Limited, UBS Fund Management (Switzerland) AG, Credit Suisse Funds AG.

This notification has also been sent to the issuer.

If you have any questions regarding this disclosure, please contact Konstantina Georgaki on +41-44- 239 40 71 in Zurich.

PGS ASA - Disclosure of large shareholdings December, 21st 2023 Page 2 of 2

Yours faithfully,

UBS Group AG

Konstantina Georgaki Sjoerd Sluimer Director Authorized Officer