TGS ASA

Management Reports • Jul 1, 2024

TGS Launches New Chapter with Announcement of Merger Completion, New Executive Team and Capital Markets Day

TGS Launches New Chapter with Announcement of Merger Completion, New Executive Team and Capital Markets Day

OSLO, Norway (1 July 2024) - TGS, a global leader in energy data and

intelligence, today launched a new chapter in its 43-year history.  The company

is excited to announce the completion of the merger with PGS, a new Executive

team and a Capital Markets Day on 29 August 2024.  Today's announcement

positions TGS as the foremost data and services company across the energy value

chain.

"This is more than a merger of two companies," said Kristian Johansen, CEO at

TGS. "It's a blending of strengths, uniting our robust financial performance,

exceptional customer service, operational excellence, cutting-edge technology

and innovation. Our new executive team is poised to drive forward these

advancements with a fresh strategic vision, ensuring that our combined expertise

translates into greater value for our customers and shareholders; while our new

brand identity captures our commitment to being a strategic partner for energy

companies worldwide, providing the insights and solutions needed for today and

anticipating the challenges of tomorrow."

Capital Markets Day, 29 August 2024, Oslo:

The merger of TGS and PGS forms a powerhouse in the energy sector, enhancing its

capabilities to support energy exploration and production on a global scale. As

the industry evolves, TGS is ideally positioned to serve the entire energy

market with more comprehensive, advanced solutions. This integration will enable

the Company to leverage a wider pool of technological resources and expertise,

significantly boosting its operational efficiency, innovation and customer

engagement strategies.  TGS leadership will present more information on the

vision for the new Company at a Capital Markets Day, to be held in Oslo on 29

August 2024.

The New TGS Executive Team:

The newly formed executive team at TGS combines the strengths and expertise of

both companies, bringing together a wealth of experience and fresh perspectives

to enhance the Company's operations. The team comprises:

* Kristian Johansen, Chief Executive Officer (Houston) - Bringing extensive

leadership and industry expertise, Kristian continues to drive TGS'

strategic initiatives, steering the company towards new opportunities and

enhanced operational excellence within the energy market.

* Sven Borre Larsen, Chief Financial Officer (Oslo) - With over 20 years of

experience in financial management within the energy sector, Sven will

continue to oversee financial strategies that enhance our market leadership

and support sustainable growth.

* Rob Adams, EVP Operations (Oslo) - With over 25 years of experience in the

seismic industry, including leadership roles in PGS new ventures,

processing, and operations, Rob will oversee project delivery and

operational excellence for the company's offshore operations and data

acquisition technologies.

* Whitney Eaton, EVP Sustainability and Communication (Houston) - With over

15 years of legal and leadership experience within compliance,

sustainability, HR and IT, Whitney will continue to drive forward TGS'

sustainability and communication strategies and lead the marketing,

sustainability and compliance teams.

* Wadii El Karkouri, EVP Imaging and Technology (Houston) - With over 25 years

of leadership experience in the energy and technology industries, including

SLB and AWS, Wadii will drive innovation and technological advancements in

seismic processing, data analytics and digitalization across the company.

* David Hajovsky, EVP Multi-client (Houston) - Bringing over 15 years of

experience in the energy sector, David has held various leadership roles

within both TGS and PGS and will continue to oversee and drive TGS' global

multi-client strategies and initiatives.

* Carel Hooijkaas, EVP New Energy Solutions (Houston) - With over 25 years of

experience in the oilfield services and equipment industry, including as CEO

of Magseis Fairfield, Carel will lead TGS' New Energy Solutions covering

wind, solar and CCS, as well as 4C Offshore and Prediktor.

* Nathan Oliver, EVP Contract (Houston) - With a career spanning over three

decades in the energy sector, including leadership roles in multi-client,

contract and imaging across the globe, and most recently leading PGS' entire

Sales and Services organization, Nathan will drive TGS' contract acquisition

strategies and initiatives.

* Kristin Omreng, EVP People and Culture (Oslo) - Bringing nearly 20 years of

HR and Organizational Development experience, managing and developing global

organizations in the energy industry, including at Aker Solutions and PGS,

Kristin will lead initiatives that enhance TGS' people and culture

strategies.

* Tana Pool, EVP Legal (Houston) - With vast legal experience through her work

as General Counsel in both the energy and construction industries and prior

to that with several global law firms, Tana will continue to provide

strategic legal guidance to support TGS' operations and growth.

The New TGS Brand Identity:

TGS also unveiled its new brand identity today. The redesigned TGS logo

represents a blend of heritage, innovation, and financial strength. It maintains

elements from the PGS brand, symbolizing the Company's ongoing leadership in

technology and operational excellence. The new visual identity supports TGS'

mission to deliver a wide variety of energy data and solutions that meet current

demands while foreseeing future needs.

"Our refreshed brand identity signifies a strategic evolution in our journey,"

Johansen added. "It combines our historical strengths with a progressive

outlook, ensuring we remain at the forefront of the energy sector. We're excited

to launch this new chapter with a clear vision and a strengthened commitment to

our stakeholders."

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 (http://www.tgs.com).

Access the TGS press kit here. (https://www.tgs.com/media-events/press-kit)

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.

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

Sven Børre Larsen

Chief Financial Officer

investor@tgs.com (mailto:investor@tgs.com)