Editing PGS ASA: Mandatory notification of trade

Oslo, 2 November 2022

Reference is made to the stock exchange notice by PGS ASA (the “'''Company'''”) on 1 November 2022 regarding the successfully placed private placement of 229,250,000 new shares in the Company (the “'''Private Placement'''”).

The following primary insiders in the Company were allocated shares in the Private Placement:

* Trond Brandsrud, Director was allocated 20,000 shares in the Private Placement;
* Richard Herbert, Director, was allocated 46,000 shares in the Private Placement;
* Marianne Kah, Director, was allocated 15,000 shares in the Private Placement;
* Shona Grant, Director, was allocated 45,000 shares in the Private Placement;
* Anette Valbø, Director, was allocated 5,000 shares in the Private Placement;
* Eivind Vesterås, Director, was allocated 5,000 shares in the Private Placement;
* Rune Olav Pedersen, President & CEO, was allocated 175,000 shares in the Private Placement;
* Gottfred Langseth, EVP & CFO, was allocated 300,000 shares in the Private Placement;
* Nathan Oliver, EVP Sales & Services, was allocated 15,000 shares in the Private Placement;
* Lars Ragnar van der Bijl Mysen, General Counsel, was allocated 50,000 shares in the Private Placement;
* Kristin Omreng, SVP Global Human Resources, was allocated 20,000 shares in the Private Placement; and
* Bård Stenberg, VP IR & Corporate Communication, was allocated 5,238 shares in the Private Placement.

Primary insider notifications pursuant to the Market Abuse Regulation article 19 are attached.

Contacts:

Bård Stenberg, VP IR & Corporate Communication

Mobile: +47 99 24 52 35

This information is subject to the disclosure requirements pursuant to Regulation EU 596/2014 (MAR) article 19 number 3 and the Norwegian Securities Trading Act section 5-12.

'''Attachment'''

* [https://ml-eu.globenewswire.com/Resource/Download/30a66a27-6921-4bb9-b95c-d548eb32e847 3 Stock Exchange Notice PDMR notification APPENDIX]