PGS ASA: Settlement of Long-term Incentive Plans

June 28, 2024

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.

Attachment

PRSU settlement PDMR Appendix

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