TGS (TGS) Pareto Securities' 33rd Annual Energy Conference presentation summary

Market position and financial performance

• Holds approximately 40% seismic market share with a global workforce of 1,600 and six core seismic vessels.

• Achieved $903 million EBITDA and $2.9 billion market capitalization as of June 2026.

• Maintains a low leverage ratio of 0.6x and a 4.6% dividend yield.

• Countercyclical investments and consolidation have enabled revenue growth despite a 60% industry decline since 2010.

• Over $1.7 billion returned to shareholders through dividends and buybacks since 2010.

Industry trends and exploration outlook

• Oil and gas demand projected to grow through 2050, with IEA extending peak oil by over 20 years.

• Offshore acreage awards in 2025 more than doubled the annual average of the previous five years.

• Reserve life and replacement ratios for major IOCs have declined, highlighting the need for new exploration.

• Companies with higher reinvestment rates are outperforming peers, reflecting a shift in shareholder preference.

• Geopolitical tensions have driven oil prices higher, improving E&P cash flows.

Strategic initiatives and technology

• Order backlog grew 85% from Q2 2025 to Q2 2026, with over 10 major discoveries made using proprietary data.

• AI-powered subsurface interpretation platform commercialized, leveraging the world’s largest seismic library.

• Financial strength supports continued investment, growth, and accelerated shareholder returns.

• Portfolio sharpened by asset sales, increasing balance sheet capacity.

• Fully integrated seismic platform captures value across the exploration value chain.