PGS ASA

DISCLOSURE OF LARGE SHAREHOLDINGS, RIGHT TO SHARES AND VOTING RIGHTS PURSUANT TO SECTION 4-3 OF THE ACT ON SECURITIES TRADING

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:	PGS ASA
2. Reason for the notification (please tick the appropriate box or boxes)
An acquisition or disposal of voting rights
An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An event changing the breakdown of voting rights
Other (please specify):
3. Full name of person(s) subject to the notification obligation:	The Goldman Sachs Group, Inc.
4. Full name of shareholder(s) (if different from 3.):	Goldman Sachs International Goldman Sachs Asset Management, L.P.
5. Date of the transaction (and date on which the threshold is crossed or reached if different):	21 July 2020
6. Date on which issuer notified:	22 July 2020
7. Threshold(s) that is/are crossed or reached:	Above 10%

A: Voting rights attached to shares
Class/type of shares	Situation previous to the Triggering transaction				Resulting situation after the triggering transaction
if possible using the ISIN CODE	Number of Shares	Number of Voting Rights viii	Nu mbe r of sha res	Number of voting rights % of voting rights ix
			Dire ct	Direct x	Indirect xi	Direct	Indirect
NO0010199151	Below 5%	Below 5%			50,326,907		13.00%
US69290P1084	Below 5%	Below 5%			0		0.00%
	Total				50,326,907		13.00%

B: Financial Instruments
Resulting situation after the triggering transaction xii
Type of financial instrument	Expiration date xiii	Exercise/ Conversion Period/ Date xiv	Number of voting rights that may be acquired if the instrument is exercised/ converted.	% of voting rights

Total (A+B)
Number of voting rights	% of voting rights
50,326,907	13.00%

The Goldman Sachs Group, Inc.; 50,326,907 shares; 13.00%

Goldman Sachs (UK) L.L.C. (Controlled by The Goldman Sachs Group, Inc.); 50,093,553 shares; 12.94%

Goldman Sachs Group UK Limited (Controlled by Goldman Sachs (UK) L.L.C.); 50,093,553 shares; 12.94%

Goldman Sachs International (Controlled by Goldman Sachs Group UK Limited); 50,093,553 shares; 12.94%

GSAM Holdings LLC (Controlled by The Goldman Sachs Group, Inc.)

Goldman Sachs Asset Management, L.P. (Controlled by GSAM Holdings LLC)

10. Name of the proxy holder:	N/A
11. Number of voting rights proxy holder will cease to hold:	N/A
12. Date on which proxy holder will cease to hold voting rights:	N/A

13. Additional information:	General email contact: [email protected]
14. Contact name:	Papa Lette
15. Contact telephone number:	+44 207 774 7442