TGS ASA

TGS Vesting Under the 2022 Long-term Incentive Plan

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

Board of Directors of TGS ASA authorized TGS to grant Performance Stock Units

(PSUs) under the Magseis 2022 Long-term Incentive Plan adopted by TGS.

In accordance with the terms of the 2022 Long-term Incentive Plan, the PSUs

vested on 1 April 2023, resulting in a total of 66 PSU holders having the right

to request the issuance of TGS shares at par value NOK 0.05. The company

determined that the final payout on the PSUs is 58.3% based on achievement of

performance metrics set forth in the plan, resulting in a total of 38,528 shares

issuable to 66 holders of the vested PSUs.

Participants had the right to request TGS to settle a portion of their vested

units in cash, using the fair market value of the shares to cover tax

withholding obligations and other necessary deductions that arise in connection

with the vest.

Following the vest of PSUs, an aggregate of 26,685 TGS shares have been issued

to the 66 employees, which amount is net of any units that were settled in

cash.

Primary insider Carel Hooijkaas, EVP Acquisition, has received 5,752 shares.

After this he holds a total of xx number of TGS shares.

The shares have been taken out of TGS' holding of treasury shares. After the

transactions TGS holds 431,830 own 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

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