PGS ASA

Transaction in Own Shares • Jun 22, 2022

PGS ASA: Completion of share buy-back

PGS ASA: Completion of share buy-back

22 June, 2022 - Reference is made to the stock exchange release by PGS ASA (the

«Company») on 22 June 2022 regarding the initiation of a share buy-back program

to cover settlement of Performance based Restricted Stock Units under the

Company's 2019 Long Term Incentive Plan for employees.

On 22 June 2022, PGS ASA has purchased a total of 500,000 own shares at the Oslo

Stock Exchange at an average price of NOK 7.2583 per share, and the Company has

now completed the buy-back program.

Date on which the buy-back program was announced: 22 June 2022

Duration of the buy-back program: Until 22 June 2022 (originally no later than

24 June 2022, however the program was completed before the deadline)

Overview of transactions:

+----------------------+------------------+----------------+-------------------+

|  |  |  |  |

+----------------------+------------------+----------------+-------------------+

|Date |Aggregated daily |Weighted average|Total daily |

| |volume (number of |share price per |transaction value |

| |shares) |day (NOK |(NOK) |

+----------------------+------------------+----------------+-------------------+

|22 June 2022 |500 000 |7.2583 |3 629 150.0 |

+----------------------+------------------+----------------+-------------------+

|  |  |  |  |

+----------------------+------------------+----------------+-------------------+

|Previously disclosed |0 |n.a. |n.a. |

|buy-backs under the | | | |

|program (accumulated) | | | |

+----------------------+------------------+----------------+-------------------+

|Accumulated under the |500 000 |7.2583 |3 629 150.0 |

|buy-back program | | | |

+----------------------+------------------+----------------+-------------------+

|  |  |  |  |

+----------------------+------------------+----------------+-------------------+

Following the completion of the above transactions, PGS ASA owns a total of

500,590 own shares, corresponding to 0.08% of the Company's share capital.

Appendix:

A detailed overview of all transactions made under the buy-back program that

have been carried out under the above-mentioned time period is attached to this

report and available at www.newsweb.no.

This is information that PGS ASA is obliged to make public pursuant to the EU

Market Abuse Regulation and subject to the disclosure requirements pursuant to

Section 5-12 of the Norwegian Securities Trading Act.