TGS ASA

Remuneration Information • Aug 9, 2023

TGS Awards Performance Share Units and Restricted Share Units

TGS Awards Performance Share Units and Restricted Share Units

OSLO, Norway (9 August 2023) - TGS has issued awards of Performance Share Units

(PSUs) and Restricted Share Units (RSUs) to 221 key employees of the Company, as

authorized by the shareholders of the Company at its Annual General Meeting on

10 May 2023.  With the exception of certain RSUs, which are secured by the

Company's treasury stock, the PSUs and RSUs are secured by free-standing

warrants that, upon vesting of the PSUs and RSUs in accordance with their terms,

are convertible to shares of the Company's common stock.  Each PSU represents

the right to receive the maximum of one share, while each RSU represents the

right to receive one share.

The PSUs are granted to members of the executive and senior leadership teams and

will vest on 8 August 2026, provided the employee remains employed with TGS on

the vesting date.  Upon vesting, the PSUs will be converted to TGS shares on the

terms approved by the Annual General Meeting, depending on performance versus

target metrics.  The number of shares will be determined by multiplying the

number of PSUs granted by a factor of 0% to 100%.  The factor is determined by

performance against three target metrics: (i) relative return on average capital

employed compared against a defined peer group of companies, (ii) TGS' return on

average capital employed, and (iii) HSE and ESG goals.  Each of the performance

metrics is measured for the period 1 January 2023 through 31 December 2025.

The RSUs are granted to certain key employees and will also vest on 8 August

2026, provided the employee remains employed at vesting and has achieved a

satisfactory performance rating against their goals over the three-year plan

period.  Upon vesting, the holder of the RSUs will receive an equivalent number

of TGS shares.

The list of the primary insiders receiving PSUs and RSUs is attached.  The

maximum number of new shares to be issued under the awarded PSUs and RSUs is

850,000.

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)