Petroleum Geo-Services AS – Exercise of call option for PGEOS01

20 Nov 2024 22:21 CET

Oslo, Norway (20 November 2024) – Further to announcement by TGS ASA (“TGS”) on
20 November 2024, TGS' subsidiary, Petroleum Geo-Services AS, has today given a
conditional notice of exercise of its option to redeem all outstanding bonds
under the Petroleum Geo-Services AS 13.50% Senior Secured USD 450,000,000 Bond
Issue (PGEOS01) with ISIN NO0012873670 (the "Bonds"). The Bonds will be redeemed
at a price equal to 109.5% of the face value for each redeemed Bond, which
constitutes the Make-Whole Amount under the Bonds.

In accordance with the terms of the Bonds, the settlement date for the call is
expected to be 5 December 2024. Further reference is made to the attached
conditional notice from Nordic Trustee AS for additional information.

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/).

More information:
Access the news on Oslo Bors NewsWeb site

632780_Notification of Call Option to Bondholders (20.11.24).pdf