Settlement of 2013 PRSU Program

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A part of the 2013 Performance based Restricted Stock Unit ("PRSU") program settled on March 13, 2017. Kai Erik Reith, Vice President Corporate Development and a primary insider in Petroleum Geo-Services ASA ("PGS" or "the Company") has received a total number of 2 500 shares. Following the transaction, Kai Erik Reith owns 7 191 shares in the Company.

2 500 shares will be transferred from the Company's holding of own shares. Subsequent to the transaction Petroleum Geo-Services ASA holds 693 164 own shares.

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

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