PGS ASA

Major Shareholding Notification • Sep 24, 2015

Kiltearn Partners LLP Disclosure

Kiltearn Partners LLP Disclosure

We act as an Investment Manager for a number of

commingled funds and separate accounts

(our "Clients"). In acting for our Clients, we are

given full discretion over their investments.

However, we do not act as their Custodian, and

therefore shares are not held in our name, but in the

nominee name of their Custodian Bank.

The recent purchase of 135283 shares in Petroleum Geo-

Services ASA (ISIN: NO0010199151) by ourselves, on

behalf of our Clients, have resulted in our having

control over the following shares and voting rights

KILTEARN 17 932 029

KILTEARN VOTING RIGHTS 17 932 029

Our records show that Petroleum Geo-Services ASA

(ISIN: NO0010199151) has the following issued

ordinary shares:

Petroleum Geo-Services ASA (ISIN: NO0010199151)

217 799 997

Our records show that Petroleum Geo-Services ASA

(ISIN: NO0010199151) has the following voting

entitlements:

Petroleum Geo-Services ASA (ISIN: NO0010199151)

217 799 997

As a result, we exercise control over 8.23% of the

shares and 8.23% of the voting entitlements. The

Kiltearn Global Equity Fund now exercises control

over 5.04% of the shares and voting entitlements as

shown overleaf.