TGS ASA — Major Shareholding Notification 2021

Dec 27, 2021

Substantial Shareholding Disclosure

Substantial Shareholding Disclosure

a. Name of Issuer of shares: TGS Nopec

b. Date which holding exceeded threshold: December 22, 2021

c. Name of Shareholder: Sprucegrove Investment Management

d. Number of shares the notification encompasses: 11,724,399 shares (9.98%)

based on TGS shares outstanding of 117,441,117 shares

e. Subsequent Situation Prior to Disclosure: 11,762,696 shares (10.03%)

based on TGS shares outstanding of

117,303,398 shares which occurred on January 26, 2021

f. Percentage of the votes/shares of the company held in the form of rights to

shares: 0

g. The circumstance that triggered disclosure obligation: Sale of shares for

client accounts

h. Chain of controlled undertakings through which shares/rights are owned:

Shares are held beneficially in client accounts which are managed by

Sprucegrove Investment Management

i. Notification concerning rights to shares: Sprucegrove does not hold any

rights