1. Settlement

June 11, 2019: Oslo, Norway, the PGS ASA 2016 Long Term Incentive Program settled on June 11, 2019. Employees in PGS and subsidiaries (or "the Company") have received a total number of 524 425 RSUs and a total number of 0 PRSUs that were settled in cash. The payment has been determined based on an average share price on June 11 of NOK 16.96 per share.

2. Settlement of RSUs/ PRSUs by primary insiders

Out of the abovementioned release, the following were settled by primary insiders:

Gottfred Langseth has settled 18 000 RSUs and 0 PRSUs in the Company

Per Arild Reksnes has settled 18 000 RSUs and 0 PRSUs in the Company

Rune Olav Pedersen has settled 18 000 RSUs and 0 PRSUs in the Company

Terje Bjølseth has settled 8 000 RSUs and 0 PRSUs in the Company

Nathan Selvoy Oliver has settled 5 000 RSUs and 0 PRSUs in the Company

Berit Osnes has settled 5 000 RSUs and 0 PRSUs in the Company

Bård Stenberg has settled 4 000 RSUs and 0 PRSUs in the Company

Kai Reith has settled 4 000 RSUs and 0 PRSUs in the Company

David J. Dakin has settled 3 000 RSUs and 0 PRSUs in the Company

Grunde Rønsholt has settled 3 000 RSUs and 0 PRSUs in the Company

Christin Steen-Nilsen has settled 2 500 RSUs and 0 PRSUs in the Company

Anette Valbø has settled 2 500 RSUs and 0 PRSUs in the Company

Lars Ragnar Mysen has settled 1 750 RSUs and 0 PRSUs in the Company

Jens Fredrik Wisløff has settled 1 750 RSUs and 0 PRSUs in the Company

Magnus Christiansen has settled 1 100 RSUs and 0 PRSUs in the Company

Hege Renshus has settled 1 100 RSUs and 0 PRSUs in the Company

Merethe Bryn has settled 375 RSUs and 0 PRSUs in the Company

3. New holding

After completion of the above mentioned transactions, Gottfred Langseth holds 9 000 RSUs and 96 000 PRSUs in the Company. As of today the primary insider holds 190 106 shares in the Company.

After completion of the above mentioned transactions, Per Arild Reksnes holds 9 000 RSUs and 96 000 PRSUs in the Company. As of today the primary insider holds 59 263 shares in the Company.

After completion of the above mentioned transactions, Rune Olav Pedersen holds 9 000 RSUs and 162 000 PRSUs in the Company. As of today the primary insider holds 90 617 shares in the Company.

After completion of the above mentioned transactions, Terje Bjølseth holds 4 000 RSUs and 40 000 PRSUs in the Company. As of today the primary insider holds 47 088 shares in the Company.

After completion of the above mentioned transactions, Nathan Selvoy Oliver holds 4 000 RSUs and 36 000 PRSUs in the Company. As of today the primary insider holds 0 shares in the Company.

After completion of the above mentioned transactions, Berit Osnes holds 4 000 RSUs and 30 000 PRSUs in the Company. As of today the primary insider holds 21 186 shares in the Company.

After completion of the above mentioned transactions, Bård Stenberg holds 3 200 RSUs and 24 800 PRSUs in the Company. As of today the primary insider holds 9 436 shares in the Company.

After completion of the above mentioned transactions, Kai Reith holds 3 200 RSUs and 24 800 PRSUs in the Company. As of today the primary insider holds 44 341 shares in the Company.

After completion of the above mentioned transactions, David J. Dakin holds 2 400 RSUs and 20 600 PRSUs in the Company. As of today the primary insider holds 7 753 shares in the Company.

After completion of the above mentioned transactions, Grunde Rønholt holds 2 400 RSUs and 13 600 PRSUs in the Company. As of today the primary insider holds 25 359 shares in the Company.

After completion of the above mentioned transactions, Christin Steen-Nilsen holds 2 000 RSUs and 20 000 PRSUs in the Company. As of today the primary insider holds 7 012 shares in the Company.

After completion of the above mentioned transactions, Anette Valbø holds 2 000 RSUs and 7 000 PRSUs in the Company. As of today the primary insider holds 7 142 shares in the company.

After completion of the above mentioned transactions, Lars Ragnar Mysen holds 1 400 RSUs and 22 100 PRSUs in the Company. As of today the primary insider holds 11 000 shares in the Company.

After completion of the above mentioned transactions, Jens Fredrik Wisløff holds 1 400 RSUs and 7 100 PRSUs in the Company. As of today the primary insider holds 1 700 shares in the Company.

After completion of the above mentioned transactions, Magnus Christiansen holds 880 RSUs and 18 320 PRSUs in the Company. As of today the primary insider holds 3 637 shares in the Company.

After completion of the above mentioned transactions, Hege Renshus holds 880 RSUs and 5 320 PRSUs in the Company. As of today the primary insider holds 1 918 shares in the Company.

After completion of the above mentioned transactions, Merethe Bryn holds 280 RSUs and 3 920 PRSUs in the Company. As of today the primary insider holds 0 shares in the Company.