PGS ASA

Related Party Transaction • Sep 29, 2016

Petroleum Geo-Services ASA: Settlement of a part of the 2013 PRSU Program

Petroleum Geo-Services ASA: Settlement of a part of the 2013 PRSU Program

1. Settlement

A part of the 2013 Performance based Restricted Stock Unit ("PRSU") program

settled on September 28, 2016. Employees in Petroleum Geo-Services ASA and

subsidiaries ("PGS" or "the Company") have received a total number of 5000

shares. Following the transaction, 5000 shares will be transferred from the

Company's holding of Own shares.

Subsequent to the transaction Petroleum Geo-Services ASA holds 709 219 own

shares.

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)