PGS ASA

Major Shareholding Notification • Oct 28, 2016

Disclosure of Shareholding: Petroleum GEO-Services

Disclosure of Shareholding: Petroleum GEO-Services

Edinburgh Partners Limited (EPL) acts in the capacity

as a discretionary investment manager to separate

accounts (our Clients). In acting for our Clients, we

are given full discretion over their investments,

however shares are not held in our name but are held

by our client Clients.

The recent purchase of 240,641 shares in Petroleum GEO-

Services ASA (ISIN: NO0010199151), by EPL on 27

October 2016 on behalf of our Clients, has resulted in

an increase of EPL's holding and therefore has reached

the 5% threshold. EPL now holds 5.00

% based on the total number of issued shares

(239,579,996) as at the 28th October 2016

EPL now has control over the following shares and

voting rights:

- EPL Client Shareholding: 11,971,153 (5.00% of shares)

- EPL Client Voting Rights: 8,148,697 (3.40% of voting

entitlement)

Please see attached schedule for further details.