PGS ASA

PGS ASA: Settlement of Long-term Incentive Plans

Reference is made to the joint stock exchange announcements on 11 June 2024 by

PGS ASA ("PGS" or the "Company", OSE: PGS) and TGS ASA ("TGS", OSE: TGS)

regarding the combination of the two companies (the "Merger") to establish the

premier energy data company being declared unconditional with an expected

closing date on 1 July 2024. Reference is further made to the long-term

incentive plans issued by PGS dated 21 April 2021, 27 April 2022 and 26 April

2023 (the "LTI Plans") pursuant to which employees in PGS and its subsidiaries

have been granted Performance based Restricted Stock Units ("PRSUs").

Pursuant to the LTI Plans and the Merger plan, all outstanding PRSUs awarded

under the LTI Plans to employees and primary insiders in the Company and its

subsidiaries have settled as calculated by multiplying the number of eligible

PRSUs and the volume weighted average price of the PGS share on the Oslo Stock

Exchange on 27 June 2024.

Primary insider notifications pursuant to the Market Abuse Regulation article

19 are attached.

Contacts:

Bård Stenberg, VP IR & Corporate Communication

Mobile: +47 99 24 52 35

This information is subject to the disclosure requirements pursuant to

Regulation EU 596/2014 (MAR) article 19 number 3 and the Norwegian Securities

Trading Act section 5-12.

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