Mandatory Notification of Trade

December 23, 2016; In the subsequent offering announced by Petroleum Geo-Services ASA ("PGS" or "the Company") Dave Dakin, Chief Accounting Officer in PGS has on December 22, 2016 subscribed for 781 shares at a price of NOK 22.50, of which 781 shares were subscribed for pursuant to granted subscription rights. Upon completion of the subsequent offering, Dave Dakin will own a total of 7 753 shares in the Company.

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