PGS ASA

Transaction in Own Shares • Aug 16, 2023

PGS ASA - Completion of share buy-back

PGS ASA - Completion of share buy-back

August 16, 2023 - Reference is made to the stock exchange release by PGS ASA

(the «Company») on August 14, 2023 regarding the initiation of a share buy-back

program to cover settlement of Performance based Restricted Stock Units under

the Company's 2020 Long Term Incentive Plan for employees.

On August 14 and 15, 2023, PGS ASA has purchased a total of 1,575,000 own shares

at the Oslo Stock Exchange at an average price of NOK 8.2194 per share, and the

Company has now completed the buy-back program.

Date on which the buy-back program was announced: August 14, 2023.

Duration of the buy-back program: Until August 15, 2023 (originally no later

than August 18, 2023, however the program was completed before the deadline).

Overview of transactions:

+----------------------+------------------+----------------+-------------------+

|  |  |  |  |

+----------------------+------------------+----------------+-------------------+

|Date |Aggregated volume |Weighted average|Total transaction |

| |(number of shares)|share price (NOK|value (NOK) |

+----------------------+------------------+----------------+-------------------+

|August 14 and 15, 2023|1,575,000 |8.2194 |12,945,555 |

+----------------------+------------------+----------------+-------------------+

|Previously disclosed |0 |n.a. |n.a. |

|buy-backs under the | | | |

|program (accumulated) | | | |

+----------------------+------------------+----------------+-------------------+

|Accumulated under the |1,575,000 |8.2194 |12,945,555 |

|buy-back program | | | |

+----------------------+------------------+----------------+-------------------+

|  |  |  |  |

+----------------------+------------------+----------------+-------------------+

Following the completion of the above transactions, PGS ASA owns a total of

1,850,086 own shares, corresponding to 0.20% of the Company's share capital.

Appendix:

A detailed overview of all transactions made under the buy-back program that

have been carried out under the above-mentioned time period is attached to this

report and available at www.newsweb.no.

This is information that PGS ASA is obliged to make public pursuant to the EU

Market Abuse Regulation and subject to the disclosure requirements pursuant to

Section 5-12 of the Norwegian Securities Trading Act.