Mandatory Notification of Trade

December 30, 2016; In the subsequent offering announced by Petroleum Geo-Services ASA ("PGS" or "the Company") Carol Bell, Board Member of PGS has on December 29, 2016 subscribed for 560 shares at a price of NOK 22.50, of which 560 shares were subscribed for pursuant to granted subscription rights. Upon completion of the subsequent offering, Carol Bell will own a total of 5 560 shares in the Company.

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