PGS ASA

Major Shareholding Notification • Jul 21, 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 73,918 shares in Petroleum GEO-

Services ASA (ISIN: NO0010199151), by EPL on 21 July

2016 on behalf of our Clients, has resulted in a

decrease of EPL's holding and therefore has fallen

below the 5% threshold. EPL now holds 4.97% 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: 11,912,107

(4.97% of shares)

- EPL Client Voting Rights: 7,741,195

(3.23% of voting entitlement)

Please see attached schedule for further details.