PGS ASA

Remuneration Information • Jun 10, 2014

Petroleum Geo-Services ASA : Correction to option strike price

Petroleum Geo-Services ASA : Correction to option strike price

The strike price of options exercised by employees in PGS from 31.07.2013 and up

until 19.02.2014 was not adjusted for the dividend payment for 2012 of NOK 1.65

per share. Below is an updated overview of holdings and option strike prices of

all primary insiders as per June 1 2014:

Bjølseth, Terje holds 20 000 unexercised options in the Company, corresponding

to 20 000 shares at the strike price of NOK 73.34, 20 000 unexercised options in

the Company, corresponding to 20 000 shares at the strike price of NOK 72.07 and

19 060 restricted share units in the Company. As of today the primary insider

holds 8 568 shares in the company.

Cambois, Guillaume holds 45 000 unexercised options in the Company,

corresponding to 45 000 shares at the strike price of NOK 73.34, 45 000

unexercised options in the Company, corresponding to 45 000 shares at the strike

price of NOK 72.07 and 42 900 restricted share units in the Company. As of today

the primary insider holds 29 038 shares in the company.

Dakin, David J. holds 10 000 unexercised options in the Company, corresponding

to 10 000 shares at the strike price of NOK 73.34, 10 000 unexercised options in

the Company, corresponding to 10 000 shares at the strike price of NOK 72.07 and

5 950 restricted share units in the Company. As of today the primary insider

holds 3 831 shares in the company.

Langballe, Tore holds 20 000 unexercised options in the Company, corresponding

to 20 000 shares at the strike price of NOK 73.34, 20 000 unexercised options in

the Company, corresponding to 20 000 shares at the strike price of NOK 72.07 and

19 060 restricted share units in the Company. As of today the primary insider

holds 7 107 shares in the company.

Langseth, Gottfred holds 45 000 unexercised options in the Company,

corresponding to 45 000 shares at the strike price of NOK 73.34, 45 000

unexercised options in the Company, corresponding to 45 000 shares at the strike

price of NOK 72.07 and 42 900 restricted share units in the Company. As of today

the primary insider holds 46 190 shares in the company.

Oustad, Joanna holds 5 000 unexercised options in the Company, corresponding to

5 000 shares at the strike price of NOK 73.34, 5 000 unexercised options in the

Company, corresponding to 5 000 shares at the strike price of NOK 72.07 and

19 060 restricted share units in the Company. As of today the primary insider

holds 10 161 shares in the company.

Pedersen, Rune Olav holds 100 000 unexercised options in the Company,

corresponding to 100 000 shares at the strike price of NOK 74.08, 20 000

unexercised options in the Company, corresponding to 20 000 shares at the strike

price of NOK 72.07 and 19 060 restricted share units in the Company. As of today

the primary insider holds 7 188 shares in the company.

Reiersgard, Magne A. holds 45 000 unexercised options in the Company,

corresponding to 45 000 shares at the strike price of NOK 73.34, 45 000

unexercised options in the Company, corresponding to 45 000 shares at the strike

price of NOK 72.07 and 42 900 restricted share units in the Company. As of today

the primary insider holds 17 427 shares in the company.

Reinhardsen, Jon Erik holds 75 000 unexercised options in the Company,

corresponding to 75 000 shares at the strike price of NOK 73.34, 75 000

unexercised options in the Company, corresponding to 75 000 shares at the strike

price of NOK 72.07 and 71 500 restricted share units in the Company. As of today

the primary insider holds 137 389 shares in the company.

Reksnes, Per Arild holds 45 000 unexercised options in the Company,

corresponding to 45 000 shares at the strike price of NOK 73.34, 45 000

unexercised options in the Company, corresponding to 45 000 shares at the strike

price of NOK 72.07 and 42 900 restricted share units in the Company. As of today

the primary insider holds 14 791 shares in the company.

Steen-Nielsen, Christin holds 5 000 unexercised options in the Company,

corresponding to 5 000 shares at the strike price of NOK 73.34, 6 000

unexercised options in the Company, corresponding to 6 000 shares at the strike

price of NOK 72.07 and 4 750 restricted share units in the Company. As of today

the primary insider holds 4 143 shares in the company.

Stenberg, Bård holds 3 000 unexercised options in the Company, corresponding to

3 000 shares at the strike price of NOK 73.34, 6 000 unexercised options in the

Company, corresponding to 6 000 shares at the strike price of NOK 72.07 and

4 750 restricted share units in the Company. As of today the primary insider

holds 1 216 shares in the company.

Strandenes, Sverre holds 45 000 unexercised options in the Company,

corresponding to 45 000 shares at the strike price of NOK 73.34, 45 000

unexercised options in the Company, corresponding to 45 000 shares at the strike

price of NOK 72.07 and 43 900 restricted share units in the Company. As of today

the primary insider holds 16 746 shares in the company.

Ueland, Jostein holds 20 000 unexercised options in the Company, corresponding

to 20 000 shares at the strike price of NOK 73.34, 20 000 unexercised options in

the Company, corresponding to 20 000 shares at the strike price of NOK 72.07 and

19 060 restricted share units in the Company. As of today the primary insider

holds 4 879 shares in the company.

FOR DETAILS, PLEASE CONTACT:

Tore D Langballe, SVP Corporate Communications

Phone:  +47 67 51 43 75

Mobile: +47 90 77 78 41

Bård Stenberg, Investor Relations Manager

Phone:   +47 67 51 43 16

Mobile:  +47 99 24 52 35

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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