PGS ASA

Declaration of Voting Results & Voting Rights Announcements • Dec 30, 2014

KILTEARN PARTNERS LLP

Exchange Place 3 3 Semple Street Edinburgh EH₃8BL Telephone 0131 460 1040 Facsimile 0131 228 1830

Oslo Stock Exchange

Tollbugt. 2 PO Box 460, Sentrum N-0105, Oslo

30 December 2014

Dear Oslo Stock Exchange,

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 198584 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 (also see attached):

KILTEARN	10,959.814
KILTEARN VOTING RIGHTS	10,959.814
$\sim$

Our records show that Petroleum Geo-Services ASA (ISIN: NO0010199151) has the following issued ordinary shares:

Petroleum Geo-Services ASA (ISIN: NO0010199151)

Our records show that Petroleum Geo-Services ASA (ISIN: NO0010199151) has the following voting entitlements:

Petroleum Geo-Services ASA (ISIN: NO0010199151)

For your information, we exercise control over 5.03% of the shares and 5.03% of the voting entitlements.

Yours Faithfully.

217,799,997

217,799,997

Stuart Gunderson Chief Compliance Officer

Registered Office: Exchange Place 3, 3 Semple Street, Edinburgh, EH3 8BL Partnership Registration Number: SO303158 AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY

Company:
Petroleum Geo-Services ASA (ISIN: NO0010199151)	Attention:	Oslo Stock Exchange
Share Class: ORDINARY	Address:	Tollbugt. 2 PO Box 460, Sentrum N-0105, Oslo
Issued Share as at 30 December 2014: 217,799,997		Norway
KP Ownership:
10,959,814	Date of trade:	29 December 2014
KP Voting Ownership:
10,959,814
% of Shares 5.03	Number of real voting rights as at 30 December 2014: 217,799,997	% of Voting Entitlements 5.03

KP Account	Nominee	Kiltearn Current	% Holding at
		Share Holding	Fund Level
KILTEARN GLOBAL EQUITY FUND	Northern Trust Co.
651 Holiday Drive, Suite 300		6,448,394	2.96
Pittsburgh, Pennsylvania 15220
USA.
KILTEARN GLOBAL EQUITY SRI FUND	Northern Trust Co.
[651 Holiday Drive, Suite 300		771,851	0.35
Pittsburgh, Pennsylvania 15220
USA
KILTEARN GLOBAL EQUITY (IRELAND) FUND	Northern Trust Co.
c/o Northern Trust Fund Services (Ireland) Limited		1,360,812	0.62
George's Court, 54-62 Townsend Street
Dublin 2, Ireland
SEPARATE ACCOUNTS
c/o Kilteam Partners LLP	Separate Account Custodians	2,378,757	1.09
Exchange Place 3, 3 Semple Street
Edinburgh, EH3 8BL
TOTAL
		10,959,814	5.03