PGS ASA

Major Shareholding Notification • May 11, 2018

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:	Petroleum Geo-Services 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):	09 May 2018
6. Date on which issuer notified:	10 May 2018
7. Threshold(s) that is/are crossed or reached:	Above 5%

8. Notified details:
A: Voting rights attached to shares
Class/type of shares if possible using the	Situation previous to the transaction	Triggering			Resulting situation after the triggering transaction
ISIN CODE Number of Number of Shares Voting Rights viii	Numbe r of shares	ix	Number of voting rights	% of voting rights
			Direct	Direct x	Indirect xi	Direct	Indirect
NO0010199151	Below 5%	Below 5%			18,185,085		5.37%

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
18,185,085	5.37%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable xv:
The Goldman Sachs Group, Inc.; 18,185,085 shares; 5.37%
Goldman Sachs (UK) L.L.C. (Controlled by The Goldman Sachs Group, Inc.) ; 17,518,679 shares; 5.17%
Goldman Sachs Group UK Limited (Controlled by Goldman Sachs (UK) L.L.C.) ; 17,518,679 shares; 5.17%
Goldman Sachs International (Controlled by Goldman Sachs Group UK Limited) ; 17,518,679 shares; 5.17%
GSAM Holdings LLC (Controlled by The Goldman Sachs Group, Inc.)

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

Proxy Voting:
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: RegOpsEMEA-RnM@gs.com
14. Contact name:	Kashif Rafiq
15. Contact telephone number:	+44 207 051 0547