TGS ASA

Remuneration Information • Aug 10, 2023

TGS Vesting Under the 2020 Long-term Incentive Plan

TGS Vesting Under the 2020 Long-term Incentive Plan

OSLO, Norway (10 August 2023) - In accordance with the measures approved by the

shareholders of TGS at the Annual General Meeting on 27 March 2020, the Board of

Directors of TGS Geophysical Company ASA authorized TGS to grant Performance

Stock Units (PSUs) and Restricted Stock Units (RSUs) under the 2020 Long Term

Incentive Plan to key employees of TGS on 10 August 2020.  Each RSU represented

the right to receive one share, while each PSU represented the right to receive

a maximum of one share depending on performance against target metrics during

the measurement period of 1 January 2020 to 31 December 2022.  The granted PSUs

and RSUs were secured by free-standing warrants.

In accordance with the terms of the 2020 Long Term Incentive Plan, the PSUs and

RSUs vested on 10 August 2023, resulting in a total of 79 PSU/RSU holders having

the right to request the issuance of a total of 131,977 TGS shares at par value

NOK 0.25.  The TGS Board of Directors determined that the final payout on the

PSUs is 21.5% based on achievement of performance metrics set forth in the plan,

resulting in a total of 41,708 shares issuable to thirteen holders of the vested

PSUs.  In addition, 90,269 shares are issuable to sixty-seven employees for the

vesting of the RSUs.

PSU/RSU holders have the option of allowing a portion of their vested shares to

be cash settled by TGS, using the fair market value of the shares as defined

under the plan, to cover tax withholding obligations and other necessary

deductions that arise in connection with the vest.

The following primary insiders have the right to request the issuance of the

following number of TGS shares related to the vesting of the PSUs/RSUs, a

portion of which may be cash-settled as described above:

---- Kristian Johansen - 13,007 shares

---- Jan Schoolmeesters - 5,224 shares

---- William Ashby - 5,224 shares

---- Tana Pool - 5,224 shares

---- Sven Larsen - 2,150 shares

---- Josef Heim - 2,000 shares

---- David Hajovsky - 1,247 shares

---- Whitney Eaton - 1,247 shares

---- Linda Santiago - 1,247 shares

---- Duncan Bate - 3,500 shares

---- Amund Soia - 1,247 shares

About TGS

TGS provides scientific data and intelligence to companies active in the energy

sector. In addition to a global, extensive and diverse energy data library, TGS

offers specialized services such as advanced processing and analytics alongside

cloud-based data applications and solutions.

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)