TGS Capital Markets Day Highlights and Presentation Material

29 Aug 2024 07:00 CEST

Norway (29 August 2024) - TGS is adapting to a changing energy market and the
company now has a fully integrated offering across the energy data value chain.
The multi-client library has unparalleled data coverage across mature, emerging
and frontier basins worldwide. Leading data acquisition capabilities with eight
fully equipped high-quality GeoStreamer vessels. Advanced OBN technology with
leading operational track record. Scalable imaging capabilities for streamer and
nodes with on-prem and in the cloud compute capacity. A strong position in the
offshore wind site characterization market and well positioned for extensive
growth in the carbon storage and solar markets.

In the Capital Markets Day presentation, TGS announces:

* The Company's strategic priorities of Value, Resilience and Knowledge.

* To create more Value TGS intends to enhance the company's leading
position in key basins, capitalize on the integrated structure to build
strategic relationships with clients and governments, and become the
clients' preferred Imaging partner.
* TGS is building Resilience by strengthening diversification into new
energy markets, sets new standards for HSE and maintains a strong
balance sheet, cost efficiency and scalability.
* TGS is accelerating Knowledge by technology development across the value
chain, extracting incremental information from AI applications, and
being the preferred employer in the energy data industry.

* Integration synergies are increased from original target of USD 90-110
million to USD 110-130 million.
* Capital allocation priorities include disciplined organic investments,
maintaining a strong balance sheet and aiming at net interest-bearing debt
in the range of USD 250-350 million. TGS has an ambition of growing
distribution to shareholders by maintaining a healthy dividend and plans for
additional distribution through share buybacks while keeping net debt within
the indicated range.
* TGS's future reporting structure will focus on produced (POC) in segment
reporting. Multi-client, Contract, Imaging and New Energy Solutions (NES)
will be the segments reported on.
* TGS's updated 2024 guidance is multi-client investments in the range of USD
450-500 million, in line with previous guidance from TGS and PGS after
aligning accounting principles.

"By adapting to the evolving energy data market trends, TGS has established a
strong strategic position. With leading-edge technology and acquisition
solutions spanning the entire energy data value chain, we offer a comprehensive
range of insights to help our clients make better decisions. We have a strong
foundation to grow our revenues and improve our cash flow by successfully
executing our strategic priorities of Value, Knowledge and Resilience," says
Kristian Johansen, CEO of TGS. "I'm excited about the TGS-PGS merger and the
ongoing integration process, which is progressing according to plan. Already by
the end of this year, we expect a synergy run rate of approximately USD 60
million, and we have increased our total synergy target from USD 90-110 million
to USD 110-130 million by the end of 2025."

The Capital Markets Day presentation starts at 14:00 CEST and takes place at
House of Oslo Conference Center, Ruseløkkveien 34, Oslo, Norway,

After management's concluding remarks at approximately 16:00 CEST, we invite
attendees to join us for refreshments at House of Oslo conference center.

Please register your physical attendance by emailing investor@tgs.com, or view a
live webcast by copying and pasting the link below into your browser, a replay
will be available shortly after:
https://channel.royalcast.com/landingpage/hegnarmedia/20240829_11/

About TGS
TGS provides advanced data and intelligence to companies active in the energy
sector. With leading-edge technology and solutions spanning the entire energy
value chain, TGS offers a comprehensive range of insights to help clients make
better decisions. Our broad range of products and advanced data technologies,
coupled with a global, extensive and diverse energy data library, make TGS a
trusted partner in supporting the exploration and production of energy resources
worldwide. For further information, please visit www.tgs.com
(https://www.tgs.com/).

Forward Looking Statement
All statements in this press release other than statements of historical fact
are forward-looking statements, which are subject to a number of risks,
uncertainties and assumptions that are difficult to predict and are based upon
assumptions as to future events that may not prove accurate. These factors
include volatile market conditions, investment opportunities in new and existing
markets, demand for licensing of data within the energy industry, operational
challenges, and reliance on a cyclical industry and principal customers. Actual
results may differ materially from those expected or projected in the forward-
looking statements. TGS undertakes no responsibility or obligation to update or
alter forward-looking statements for any reason.

For more information, visit TGS.com or contact:

Bård Stenberg
IR & Communication
Mobile: 992 42 235
investor@tgs.com

More information:
Access the news on Oslo Bors NewsWeb site

626493_TGS CMD Presentation.pdf