PGS ASA — Remuneration Information 2016

Dec 5, 2016

Petroleum Geo-Services ASA: Settlement of 2013 RSU Program

Petroleum Geo-Services ASA: Settlement of 2013 RSU Program

A part of the 2013 Performance based Restricted Stock Unit ("PRSU") program

settled on December 2, 2016. Employees in Petroleum Geo-Services ASA and

subsidiaries ("PGS" or "the Company") have received a total number of 2 000

shares. Following the transaction, 2 000 shares will be transferred from the

Company's holding of own shares.

Subsequent to the transaction Petroleum Geo-Services ASA holds 695 664 own

shares.

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)