TGS ASA — Major Shareholding Notification 2021

Jan 28, 2021

Substantial Shareholding Disclosure - TGS Nopec - 10.03%

Substantial Shareholding Disclosure - TGS Nopec - 10.03%

a. Name of Issuer of shares: TGS Nopec

b. Date which holding exceeded threshold: January 26, 2021

c. Name of Shareholder: Sprucegrove Investment Management

d. Number of shares the notification encompasses: 11,762,696 shares (10.03%) based on TGS shares outstanding of 117,303,398 shares

e. Subsequent Situation Prior to Disclosure: 11,540,044 shares (9.83%) based on TGS shares outstanding of 117,303,398 shares

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: Purchase 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