Settlement of parts of the 2014 PRSU Program

1. Settlement

A part of the 2014 Performance based Restricted Stock Unit ("PRSU") program settled on March 8, 2018. An employee in Petroleum Geo-Services ASA and subsidiaries ("PGS" or "the Company") has received a total number of 1000 shares. Following the transaction, 1000 shares will be transferred from the Company's holding of Own shares.

Subsequent to the transaction, Petroleum Geo-Services ASA holds 5888 own shares.

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