Mandatory Notification of Trade

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January 4, 2017: In the subsequent offering announced by Petroleum Geo- Services ASA ("PGS" or "the Company") Bjørn Håkon Lund, the husband of Berit Osnes, Senior Vice President MultiClient and employee elected Board Member in PGS has on January 3, 2017 subscribed for 500 shares at a price of NOK 22.50, of which 201 shares were subscribed for pursuant to granted subscription rights. Upon completion of the subsequent offering, Bjørn Håkon Lund will own a total of between 2 000 and 2 299 shares in the Company.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

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