PGS ASA

Major Shareholding Notification • Apr 1, 2020

Major Shareholding Disclosure

Major Shareholding Disclosure

JPMorgan Chase & Co. ("JPMC ") has a notifiable interest in the share capital of PGS ASA as a result of trades by its subsidiary J.P. Morgan Securities plc. The total number of shares held by JPMC on 31 March 2020 was 19,376,883 being 5.004% of the issued share capital and voting rights of the company. The equity holding in JPMC crossed notification threshold of 5% on 31 March 2020.

Breakdown by number of shares held:

J.P. Morgan Securities plc 19,376,875 (5.004%)

JPMorgan Chase Bank, National Association 8 (0.000%)

Trades by J.P. Morgan Securities plc

Bought shares: 185,554

CHAIN OF CONTROLLED UNDERTAKINGS

Relationship of JPMorgan JPMorgan Chase & Co. to subsidiaries involved in the disclosure

1. The following hierarchy shows the relationship JPMorgan Chase & Co. and its subsidiary J.P. Morgan Securities plc

JPMorgan Chase & Co.

JPMorgan Chase Bank, National Association (100%)

J.P. Morgan International Finance Limited (100%)

J.P. Morgan Capital Holdings Limited (100%)

J.P. Morgan Securities plc (100%)

2. The following hierarchy shows the place of JPMorgan Chase Bank, National Association within the JPMorgan group.

JPMorgan Chase & Co.

JPMorgan Chase Bank, National Association (100%)