TGS Vesting Under the 2022 Long-Term Incentive Plan

TGS Vesting Under the 2022 Long-Term Incentive Plan

Issuer

TGS ASA

Oslo, Norway (29 April 2024) -TGS granted the second tranche of Performance
Stock Units (PSUs) under the Magseis 2022 Long-term Incentive Plan previously
adopted and authorized by the Board of Directors of TGS ASA in 2023.

In accordance with the terms of this Plan, the second tranche of PSUs vested on
1 April 2024, resulting in a total of 61 PSU holders having the right to request
the issuance of TGS shares at par value NOK 0.05. The company previously
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 36,720 shares
issuable to 61 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 26,557 TGS shares have been issued
to the 61 employees, which amount is net of any units that were settled in
cash.

Primary insider Carel Hooijkaas, EVP Acquisition, has received 5,464 shares.
After this he holds a total of 38,158 TGS shares.

The shares have been taken out of TGS' holding of treasury shares. After the
transactions TGS holds 146,758 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
[email protected] (mailto:[email protected])

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