PGS ASA

Major Shareholding Notification • Oct 6, 2023

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

Registered Strictly confidential

Oslo Børs Box 460 Sentrum 0105 Oslo Norway

October, 5th 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 the reportable threshold of 5% of the share capital in 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: October, 4th 2023

Event triggering the notification: Acquisition of shares

Total new holding:

50'596'401 shares representing 5.30% of the 955'310'440 voting rights and of the share capital held indirectly by UBS Group AG and directly by its subsidiaries: UBS AG, UBS Switzerland AG, UBS Asset Management (UK) Limited, UBS Fund Management (Switzerland) AG, Credit Suisse International and 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 +41-44-239 40 71 in Zurich.

PGS ASA - Disclosure of large shareholdings October, 5th 2023 Page 2 of 2

Yours faithfully,

UBS Group AG

Teorgati $\leq$

Konstantina Georgaki Director

Sjoerd Sluimer Authorized Officer