PGS ASA: Settlement of Long-term Incentive Plans

28 Jun 2024 08:06 CEST

Reference is made to the joint stock exchange announcements on 11 June 2024 by
PGS ASA ("PGS" or the "Company", OSE: PGS) and TGS ASA ("TGS", OSE: TGS)
regarding the combination of the two companies (the "Merger") to establish the
premier energy data company being declared unconditional with an expected
closing date on 1 July 2024. Reference is further made to the long-term
incentive plans issued by PGS dated 21 April 2021, 27 April 2022 and 26 April
2023 (the "LTI Plans") pursuant to which employees in PGS and its subsidiaries
have been granted Performance based Restricted Stock Units ("PRSUs").

Pursuant to the LTI Plans and the Merger plan, all outstanding PRSUs awarded
under the LTI Plans to employees and primary insiders in the Company and its
subsidiaries have settled as calculated by multiplying the number of eligible
PRSUs and the volume weighted average price of the PGS share on the Oslo Stock
Exchange on 27 June 2024.

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.

More information:
Access the news on Oslo Bors NewsWeb site

622621_PRSU settlement PDMR Appendix.pdf