TGS ASA

Quarterly Report • Apr 8, 2025

TGS Q1 2025 Operational Update

TGS Q1 2025 Operational Update

OSLO, Norway (8 April 2025) - 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 count:

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

|   | Q1 2025 | Q1 2024 |

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

| Normalized crew count Contract(1) | 2.8 | 1.9 |

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

| Normalized crew count Multi-client(1) | 0.2 | 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):

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

|   | Q1 2025 | Q1 2024 |

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

| Contract | 37% | 36% |

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

| Multi-client | 36% | 30% |

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

| Steaming | 11% | 7% |

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

| Yard | 3% | 6% |

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

| Stacked/Standby | 13% | 21% |

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

| Number of vessels | 6 | 7 |

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

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

working on New Energy Solutions projects are excluded). The Ramform Vanguard was

converted into a dual-purpose seismic and offshore wind vessel in Q2 2024. Cold

-stacked vessels are excluded from the statistics.)

Based on a preliminary financial review, TGS expects Q1 2025 multi-client

investment to be approximately USD 130 million.

Kristian Johansen, CEO at TGS, commented: "We are pleased with the Q1 2025 asset

utilization, showing significant year-on-year improvement. Additionally, we saw

healthy multi-client activity levels, particularly in frontier areas, and

higher-than-expected investments in new data this quarter. Despite short term

uncertainty in geopolitics, TGS is well positioned to help our clients realize

exploration ambitions from a combination of a strong balance sheet, leading

assets and technologies and the world's largest multi-client data library."

TGS will release its Q1 2025 results at 07:00 a.m. CEST on 9 May 2025. CEO

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

a.m. CEST during a live presentation and webcast. The presentation will take

place at House of Oslo, Ruseløkkveien 34, 0251 Oslo and is open to the public.

The webcast can be followed live via this link:

https://channel.royalcast.com/landingpage/hegnarmedia/20250509_2/

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

Bård Stenberg, VP IR & Communication

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.