Settlement of parts of the 2014 PRSU Program

1.       Settlement

A part of the 2014 Performance based Restricted Stock Unit ("PRSU") program settled on August 29, 2018. Employees in Petroleum Geo-Services ASA and subsidiaries ("PGS" or "the Company") has received a total number of 4149 shares. Following the transaction, 4149 shares will be transferred from the Company's holding of Own shares. Subsequent to the transaction, Petroleum Geo-Services ASA holds 1739 own shares.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)