PGS ASA — Major Shareholding Notification 2016

Oct 20, 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 Clients.

The recent sale of 302,067 shares in Petroleum GEO-

Services ASA (ISIN: NO0010199151), by EPL on 19

October 2016 on behalf of our Clients, has resulted in

a decrease of EPL's holding and therefore has crossed

the 5% threshold. EPL now holds 4.94% based on the

total number of issued shares (239,579,996).

EPL now has control over the following shares and

voting rights:

- EPL Client Shareholding: 11,828,572

(4.94% of shares)

- EPL Client Voting Rights: 8,246,757

(3.44% of voting entitlement)

Please see attached schedule for further details.