PGS ASA

Major Shareholding Notification • Mar 21, 2018

Petroleum Geo-Services ASA - Disclosure of Large Shareholding

Petroleum Geo-Services ASA - Disclosure of Large Shareholding

Declaration of Holdings

Petroleum Geo-Services ASA

We, Schroders Plc, hereby notify you according to Section 3-2 of the Securities Trading Act that we have crossed above the threshold of 5% of voting rights in Petroleum Geo-Services ASA with effect of 20 March 2018. The result is that we now hold 17,513,286 shares which represent 5.173% of the total number of Petroleum Geo-Services ASA shares in issue, namely 338,579,996.

This disclosure obligation was triggered by a purchase of 923,529 shares by Schroder Investment Management Limited on 20 March 2018.

Schroders Plc, as a group now holds 5.173 % (17,513,286 shares) in Petroleum Geo-Services ASA which is held across three legal entities as per below:

Schroder Investment Management Limited 5.148% (17,428,886 shares)

Schroder Investment Management North America Limited 0.025% (84,400 shares)

Chain of Controlled Undertakings:

Schroders plc is the parent company of Schroder Administration Limited, which is the parent company of Schroder International Holdings Limited.

Schroder International Holdings Limited is the parent company of Schroder Investment Management Limited; which is a discretionary fund manager holding shares on behalf of our clients and can exercise the voting rights for all shares mentioned in this notification.

Schroder Investment Management North America Limited is a subsidiary of Schroder Investment Management Limited; and a discretionary fund manager holding shares on behalf of our clients and can exercise the voting rights for its shares.