PGS ASA — Major Shareholding Notification 2023

Nov 27, 2023

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Registered Strictly confidential

UBS Group AG Postfach 8098 Zürich Tel. +41-44-438 11 11

Global Shareholder Reporting Group Compliance, Regulatory & Governance Nemanja Pantic Max-Högger-Strasse 80, 8048 Zurich Tel. +41-44-239 62 08 nemanja-n.pantic@ubs.com

www.ubs.com

Oslo Børs Box 460 Sentrum 0105 Oslo Norway

November 27[th] 2023

PGS ASA - Disclosure of large shareholdings under the Securities Trading Act

Dear Sir or Madam,

We would like to inform you that UBS Group AG has crossed above the 5% reportable threshold in financial instruments of the share capital in the issuer PGS ASA (NO0010199151). Please let this serve you as our disclosure as set forth below:

Name of the person obliged to notify: UBS Group AG

Residing at:	Bahnhofstrasse 45
	CH-8001 Zurich
Date of event:	24thNovember 2023
Event triggering the notification:	Disposal of Financial Instruments.
Total new holding:	75’261’201 representing 7.88% of the 955’310’440 voting
	rights and of the share capital out of which 57’007’035
	equivalent to 5.97% are held through financial instruments.
	The shares and financial instruments are held indirectly by UBS
	Group AG and directly by its subsidiaries: UBS AG, UBS
	Switzerland AG, UBS Asset Management (UK) Limited, UBS
	Europe SE, UBS Fund Management (Switzerland) AG, Credit
	Suisse Funds AG.

This notification has also been sent to the issuer.

If you have any questions regarding this disclosure, please contact Konstantina Georgaki on +41-44239 40 71 in Zurich.

PGS ASA - Disclosure of large shareholdings November, 27th 2023 Page 2 of 2

Yours faithfully,

UBS Group AG

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Konstantina Georgaki Director

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Sjoerd Sluimer Authorized Officer