Share capital increase registered

Reference is made to Petroleum Geo-Services' ("PGS" or "the Company") stock exchange notice of 12 November 2015 regarding successful private placement of 1,800,000 treasury shares and 21,779,999 new shares, each with a nominal value of NOK 3.

The new shares have today been registered with the Norwegian Register of Business Enterprises. The Company's share capital after the registration of the new shares is NOK 718,739,988 divided into 239,579,996 shares.

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