TGS (TGS) SEB Nordic Seminar presentation summary

Strategic positioning and offerings

• Provides integrated energy data solutions across the value chain, including multi-client, streamer, OBN acquisition, advanced imaging, and new energy sectors.

• Holds a leading position in mature, emerging, and frontier basins globally, with ~$4 billion invested in multi-client data since 2018.

• Strong presence in offshore wind, CCS, and solar markets, leveraging technology add-ons for future growth.

Revenue generation and market exposure

• Generates revenue throughout the E&P project lifecycle, with a 70% split from multi-client and 30% from streamer and OBN acquisitions.

• Revenues are resilient to short-term oil price volatility, with current prices well above break-even for major energy companies.

• Significant increase in streamer contract tenders and high levels of active leads, with several opportunities expected to close soon.

Merger integration and synergy realization

• Upgraded synergy target to USD 110-130 million, up from previous guidance of USD 90-110 million.

• Achieved faster-than-expected synergy realization, with Q3 and Q4 2024 run-rates increasing to ~$55 million and ~$70 million, respectively.

• On track to deliver annual synergies within the guided range by year-end 2025, with additional benefits from deferred tax assets.