Settlement of 2013 RSU Program

1. Settlement

A part of the 2013 Performance based Restricted Stock Unit ("PRSU") program settled on May 2, 2017. Employees in Petroleum Geo-Services ASA and subsidiaries ("PGS" or "the Company") have received a total number of 5,000 shares. Following the transaction, 5,000 shares will be transferred from the Company's holding of Own shares.

Subsequent to the transaction Petroleum Geo-Services ASA holds 688,164 own shares.

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