TGS ASA rated 'BB-' from S&P

23 Oct 2024 15:39 CEST

OSLO, Norway (23 October 2024) - TGS ASA, a leading provider of energy data and
intelligence is assigned a 'BB-' rating from S&P with stable outlook. S&P's
rating on TGS ASA reflects the company's conservative financial policies and
relatively strong credit measures after the transformative acquisition of PGS.

S&P is raising their issuer credit rating on TGS Newco (formerly PGS ASA) and
its USD 450 million senior secured notes by three and two notches respectively,
from 'B-' to 'BB-' and from 'B' to 'BB-' with stable outlook.

The upgrade by S&P follows the upgrade by Moody's from a B2 to a Ba3 rating as
announced on 26 September 2024.

S&P's press release announcing the rating action is available on their home page
https://www.spglobal.com/.

For more information, visit TGS.com or contact:

Bård Stenberg
IR & Communication
Mobile: +47 992 45 235
investor@tgs.com

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.

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