PGS Invites Shareholder Input on Corporate Governance and Responsibility

Petroleum Geo-Services ASA continuously strives to improve its efforts in the areas of Corporate Governance and Corporate Responsibility. Investors who wish to give feedback on either of these areas should send their comments to Rune Olav Pedersen by March 10, 2017 for consideration by the Board of Directors and Nomination Committee.

The Board of Directors and the Nominations Committee will this year continue the process of actively pursuing a close dialog with our shareholders and investors on the topics of Corporate Governance and Corporate Responsibility.

We therefore invite any shareholder to comment upon or ask questions on any element of Corporate Governance or Corporate Responsibility including the agenda and proxy card for our 2017 AGM, our corporate governance structure and our principles for executive compensation.

To represent the Board of Directors and the Nominations Committee in this we have elected Rune Olav Pedersen, Executive Vice President and the Company's General Counsel, Secretary to the Board of Directors and Secretary to the Nominations Committee. He will be able to answer any question relating to our work in these areas and he is instructed to bring feedback to the Board of Directors and the Nominations Committee following these meetings. The Board of Directors and the Nominations Committee will consider any investor feedback, but there can be no assurance that comments will result in a change of policy or otherwise.

We encourage you to contact Mr. Pedersen by March 10, 2017 if you would like provide comments or have questions on these topics. His contact details are as follows:

Email: rune.olav.pedersen@pgs.com
Address: Petroleum Geo-Services ASA
P.O.Box 251, Lilleaker
0216 Oslo, Norway
Phone: +47 67 51 57 06 / +47 908 16 337