TGS ASA

Earnings Release • Jan 9, 2026

TGS Q4 2025 Operational Update

TGS Q4 2025 Operational Update

OSLO, Norway (9 January 2026) - TGS ASA ("TGS"), a leading global provider of

energy data and intelligence, routinely publishes a quarterly operational update

six working days after quarter-end.

The table below shows TGS' normalized Ocean Bottom Node (OBN) crew count¹:

+---------------------------------------+---------+---------+

|   | Q4 2025 | Q4 2024 |

+---------------------------------------+---------+---------+

| Normalized crew count Contract(1) | 0.7 | 3.5 |

+---------------------------------------+---------+---------+

| Normalized crew count Multi-client(1) | 1.0 | 0.0 |

+---------------------------------------+---------+---------+

(1) The table shows the average number of crews in operation when assuming a

normalized crew size. )

The table below shows TGS' allocation of active seismic streamer 3D vessel

capacity(2). In Q4 2025 Ramform Victory was used as a source vessel in West

Africa and is still included in the vessel statistics.

+-------------------+---------+---------+

|   | Q4 2025 | Q4 2024 |

+-------------------+---------+---------+

| Contract | 31% | 35% |

+-------------------+---------+---------+

| Multi-client | 48% | 31% |

+-------------------+---------+---------+

| Steaming | 15% | 6% |

+-------------------+---------+---------+

| Yard | 5% | 6% |

+-------------------+---------+---------+

| Stacked/Standby | 1% | 22% |

+-------------------+---------+---------+

| Number of vessels | 6 | 6 |

+-------------------+---------+---------+

(2) The statistics include active seismic 3D streamer vessels (capacity working

on New Energy Solutions projects are excluded). )

Based on preliminary financial review TGS expects multi-client investment to be

close to USD 120 million in Q4 2025, compared to USD 100.4 million in Q4 2024.

Kristian Johansen, CEO of TGS commented: "Our seismic vessel utilization reached

79% in Q4, up from 73% in the previous quarter. I am pleased that we have

established an attractive portfolio of multi-client projects offshore Brazil

focusing on the equatorial margin and the Pelotas basin, with strong client

support. Early in Q4 we deployed our third Ramform Titan-class vessel for multi-

client work offshore Brazil, and we expect to maintain half of our streamer

fleet in the region well into 2026. We enter 2026 with strong market position, a

leaner cost base, and a robust balance sheet, having reduced net interest-

bearing debt to approximately USD 430 million."

TGS will release its Q4 2025 results at 07:00 a.m. CET on 12 February 2026. CEO

Kristian Johansen and CFO Sven Børre Larsen will present the results at 09:00

a.m. CET, webcasted live.

The webcast can be followed live via this link:

https://qcnl.tv/p/miug3wdVpOfCTZvPDri7vw

For more information, visit TGS.com (http://www.tgs.com) or contact:

Bård Stenberg, VP IR & Business Intelligence

Tel.: +47 992 45 235

E-mail: 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.