PGS ASA

Major Shareholding Notification • Apr 14, 2020

Major Shareholding Disclosure

Major Shareholding Disclosure

On behalf of JPMorgan Chase & Co. ("JPMC") and its subsidiaries, JPMC hereby notifies you that it no longer has a notifiable interest in PGS ASA ("the Company"), as detailed in the attached Schedule.

JPMorgan Chase & Co. ("JPMC ") no longer has a notifiable interest in the share capital of PGS ASA as a result of trades by its subsidiary J.P. Morgan Securities plc. The total number of shares held by JPMC on 08 April 2020 was 18,968,611 being 4.899% of the issued share capital and voting rights of the company. The equity holding in JPMC crossed notification threshold of 5% on 08 April 2020.

Breakdown by number of shares held:

J.P. Morgan Securities plc 18,968,603 (4.899%)

JPMorgan Chase Bank, National Association 8 (0.000%)

Trades by J.P. Morgan Securities plc

Sold shares: 1,418,194

CHAIN OF CONTROLLED UNDERTAKINGS

Relationship of JPMorgan JPMorgan Chase & Co. to subsidiaries involved in the disclosure

1. The following hierarchy shows the relationship JPMorgan Chase & Co. and its subsidiary J.P. Morgan Securities plc

JPMorgan Chase & Co.

JPMorgan Chase Bank, National Association (100%)

J.P. Morgan International Finance Limited (100%)

J.P. Morgan Capital Holdings Limited (100%)

J.P. Morgan Securities plc (100%)

2. The following hierarchy shows the place of JPMorgan Chase Bank, National Association within the JPMorgan group.

JPMorgan Chase & Co.

JPMorgan Chase Bank, National Association (100%)