TGS ASA - Board/Management Information 2021

TGS Management Change

OSLO, NORWAY (16 August 2021) - TGS ASA today announced that Fredrik Amundsen

has resigned from his position as CFO. The company has appointed Sven Børre

Larsen as interim CFO effective immediately. Mr. Larsen held the CFO position

from 2015 to 2019 and has since been responsible for Strategy, M&A, and Investor

Relations, reporting to the CEO. Fredrik Amundsen will be available for the

Company during his notice period of six months.

"We are grateful for Fredrik's contribution to TGS, both in his position as CFO

and in prior positions in the company. We wish him the best of luck in his

future endeavors as he pursues opportunities outside of TGS. Thanks to the

breadth and depth of the TGS leadership team, we are pleased to have an internal

candidate to fill the role with immediate effect. As part of his previous

responsibilities, Sven played an important part in the transformation of TGS

from a geophysical data company to a broad energy data company. As CFO, he will

continue to contribute to the growth of the company in this new market," says

Kristian Johansen, CEO at TGS.

About TGS

TGS provides scientific data and intelligence to companies active in the energy

sector. In addition to a global, extensive and diverse energy data library, TGS

offers specialized services such as advanced processing and analytics alongside

cloud-based data applications and solutions.

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 TGS' reliance on a cyclical industry and principal customers, TGS'

ability to continue to expand markets for licensing of data, and TGS' ability to

acquire and process data product at costs commensurate with profitability, as

well as volatile market conditions, which have been exacerbated by the COVID-19

pandemic and the severe drop in oil prices. 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 further information, contact:

Kristian Johansen, CEO, [email protected]

Sven Børre Larsen, CFO, [email protected], +47 90 94 36 73

AI assistant