TGS (TGS) Investor presentation summary

Market position and business model

• Holds a $1.8bn market capitalization and operates 7 global offices with 1,700 employees.

• Vertically integrated energy data company with the largest multi-client seismic library globally.

• Consistently leads the industry in scale, with a market cap about six times that of its nearest competitor.

• Offers a full suite of seismic and data solutions across the energy value chain, including advanced imaging and new energy data.

• Strong focus on building relationships in priority basins such as the Gulf of Mexico, Brazil, Norway, and West Africa.

Strategic developments and synergies

• Completed a merger with PGS on July 1, 2024, creating a premier energy data company.

• Merger brings substantial operational, corporate, and technology synergies estimated at $110–130m annually, excluding $20–25m integration costs.

• Integration plan is on track, with increased synergy targets and additional upside from deferred tax assets.

• Combined company benefits from a highly experienced leadership team drawn from both legacy organizations.

Asset base and operational capabilities

• Operates a modern seismic fleet, including 7 core streamer vessels and ~30,000 ocean bottom nodes.

• Multi-client library covers 3.1m sq km of 3D seismic and 6.28m line km of 2D data, with 9.5m digital well logs.

• Modern fleet acquired at attractive prices, with high streamer capacity and an average age of 15 years.

• Leading OBN player, holding ~35% of deep-water OBN capacity and ~20% of global OBN capacity.