PGS ASA — Share Issue/Capital Change 2022

May 3, 2022

PGS ASA: Mandatory notification of trade

PGS ASA: Mandatory notification of trade

Reference is made to the stock exchange notice by PGS ASA (the "Company") on 4

May 2022 regarding the successfully placed private placement of 216,216,216 new

shares in the Company (the "Private Placement").

The following primary insiders in the Company were allocated shares in the

Private Placement:

* Walter Qvam, Chairperson of the Board, was allocated 100,000 shares in the

Private Placement;

* Anne Grethe Dalane, Director, was allocated 25,000 shares in the Private

Placement;

* Trond Brandsrud, Director was allocated 30,000 shares in the Private

Placement;

* Richard Herbert, Director, was allocated 70,000 shares in the Private

Placement;

* Marianne Kah, Director, was allocated 25,000 shares in the Private

Placement;

* Ebrahim Attarzadeh, Director, was allocated 140,000 shares in the Private

Placement;

* Shona Grant, Director, was allocated 30,000 shares in the Private Placement;

* Eivind Vesterås, Director, was allocated 50,000 shares in the Private

Placement;

* Rune Olav Pedersen, President & CEO, was allocated 200,000 shares in the

Private Placement;

* Gottfred Langseth, EVP & CFO, was allocated 500,000 shares in the Private

Placement;

* Lars Ragnar van der Bijl Mysen, General Counsel, was allocated 70,000 shares

in the Private Placement;

* Kai Reith, VP & Finance Manager, was allocated 40,000 shares in the Private

Placement; and

* Bård Stenberg, VP IR & Corporate Communication, was allocated 5,000 shares

in the Private Placement.

Primary insider notifications pursuant to the Market Abuse Regulation article

19 are attached to this release and can be downloaded from www.newsweb.no.

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.