TGS and PGS - key dates for completion of merger
Oslo, Norway (20 June 2024) - Reference is made to the joint stock exchange
announcement on 18 September 2023 by TGS ASA ("TGS" or the "Company," OSE: TGS)
and PGS ASA ("PGS," OSE: PGS) regarding the combination of the two companies
(the "Merger") to establish the premier energy data company, as well as the
announcements on 25 October 2023 and 1 December 2023 regarding, respectively,
the execution of the definitive merger agreement and approval by the
extraordinary general meetings.

Reference is also made to subsequent announcements related to regulatory
approval process, latest on 11 June 2024 where it was reported that all
conditions for completion of the Merger have been satisfied.

On this basis, it is currently expected that completion of the Merger will occur
on 1 July 2024. Key dates and information for the completion of the Merger will
then be as follows:

+---------------------------------------+--------------------------------------+
|Last day of trading in PGS shares on |1 July 2024 |
|OSE (and last day of trading inclusive | |
|of right to merger consideration) | |
+---------------------------------------+--------------------------------------+
|Effective date for completion of the |1 July 2024 (after close of trade) |
|Merger | |
+---------------------------------------+--------------------------------------+
|First day of trading in the combined |2 July 2024 |
|company on OSE | |
+---------------------------------------+--------------------------------------+
|Record date for delivery of |3 July 2024 |
|consideration shares to former PGS | |
|shareholders | |
+---------------------------------------+--------------------------------------+
|Record date for payment of cash |3 July 2024 |
|consideration to former PGS | |
|shareholders | |
+---------------------------------------+--------------------------------------+
|Delivery of consideration shares to |4 July 2024 |
|former PGS shareholders | |
+---------------------------------------+--------------------------------------+
|Payment of cash consideration to former|9 July 2024 |
|PGS shareholders (paid as return on | |
|paid in capital) | |
+---------------------------------------+--------------------------------------+
|ISIN (TGS, unchanged) |NO 0003078800 |
+---------------------------------------+--------------------------------------+
|Transferor company |PGS ASA |
+---------------------------------------+--------------------------------------+
|Transferee company |TGS Newco AS, with consideration |
| |shares issued by TGS ASA |
+---------------------------------------+--------------------------------------+
|Merger consideration |PGS shareholders will for each PGS |
| |share held per the record date |
| |receive: |
| | |
| |- 0.06829 shares in TGS, and |
| | |
| |- NOK 0.20419 in cash (to be paid as |
| |return of paid-up capital without |
| |withholding of tax). |
+---------------------------------------+--------------------------------------+
|Date of approvals |1 December 2023 (extraordinary general|
| |meetings) |
+---------------------------------------+--------------------------------------+

For further information on the Merger and the complete terms and conditions for
the Merger, please see the merger plan for the Merger available on www.pgs.com
and www.tgs.com.

For more information, contact:

Gottfred Langseth
Chief Financial Officer
Email: ir@pgs.com

TGS:
Sven Børre Larsen
Chief Financial Officer
Email: investor@tgs.com

https://newsweb.oslobors.no/message/621948