COMMITTED TO
2022 Sustainability Report
SUSTAINABLE
GROWTHTGS Sustainability Report 2022

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Sustainability Report

1. OUR COMMITMENT TO SUSTAINABILITY
1.1 What TGS Believes

TGS provides data, intelligence, ocean bottom nodes (OBN) acquisition services, advanced
processing, analytics, cloud-based data applications, and other specialized services andsolutions to energy companies across the energy spectrum, whether it is oil and gas,carbon capture and storage, or wind development. By investing in multi-client projects
worldwide, TGS has the world’s largest integrated subsurface data library that includes
seismic data, magnetic and gravity data, multibeam and coring data, digital well logs,

and production data from deepwater offshore to conventional and unconventional plays
worldwide. We have a global presence to support our customers in any market with our

corporate headquarters in Oslo, Norway; our operational headquarters in Houston, Texas,
USA; and with additional offices located in Brazil, Australia, United Kingdom and Canada.

Because of TGS’ global presence and business model, sustainability is an integral part of
how we operate and essential to our prosperity, and the prosperity of our stakeholders.

2022 was a year of growth for TGS, both organically and through the acquisition of several
companies and assets as part of its strategy to provide data and insights across the2energy spectrum. TGS expanded its Digital Energy Solutions group and acquired Prediktor,
a Norwegian company with 40 employees that is a leading provider of asset management
and real-time data management solutions to renewable and energy asset owners. TGS
also strengthened its multi-client library, data processing and imaging capabilities, andacquisition technology with the acquisition of the multi-client and processing assets of

ION Geophysical Corporation, including over 637,000 kilometers of 2D and over 317,000

kilometers of 3D multi-client seismic data, its proprietary imaging software and technology,
and Gemini Extended Frequency Source technology and equipment. TGS also acquired

Magseis Fairfield, the industry leader in OBN acquisition and technology, which will becomea new business unit within TGS in 2023, and create a unique offering of superior imaging
quality and operational efficiency across the energy value chain, with leading OBN andmulti-client capabilities. TGS’ New Energy Solutions business unit also launched several

new projects, including Wind Axiom, a new insight platform to help wind developers explore
high-value areas, prepare bids and develop leases, as well as the first multi-client offshore
wind measurement campaign in the New York Bight area. This campaign is the first of

many planned by TGS aimed at providing floating LiDAR wind measurements, data andinsights on a subscription basis to customers within the region.

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AUDITOR'S REPORTTGS’ workforce underwent significant change in 2022 as a result of this activity. In addition
to the 40 new employees from Prediktor, TGS hired over 60 former ION employees as well
as 60 organic hires throughout 2022. As a result, TGS’ workforce grew by over 30% in

2022 from 443 people at the end of 2021 to 578 people at the end of 2022. Therefore, a

key focus for the organization centered around integration and development of a common
culture focused on performance, results and teamwork. In addition, TGS began the

integration of Magseis Fairfield at the start of 2023, and an additional 330 onshore andoffshore employees will join the workforce in 2023.

Looking forward to 2023, TGS will focus on re-evaluating its ESG strategy in light of thediversified business, larger workforce, and wider customer and stakeholder base. This

will include conducting a new ESG materiality exercise and updating of its ESG strategy toreflect those results.

While TGS gained financial control over the operations and workforce of Magseis Fairfield in Q4 2022, TGS did notinitiate the integration until early 2023 after the completion of the purchase of the remaining Magseis Fairfield shares inJanuary 2023. As such, information relating to the 2022 operations and workforce are not incorporated into this report
but will be included in the 2023 report.
1)

1.2 Governance and Risk Management

TGS’ sustainability strategy is embedded in the overall corporate strategy and is overseen

safety, environmental, compliance and other risks prior to review and approval by TGS’

President of People and Sustainability, is responsible for implementing TGS’ sustainability

provides the necessary underpinnings for monitoring risk and incorporating sustainabilityby the Board of Directors. TGS’ Leadership Team, which includes the Executive Vice
strategy and incorporating this strategy into company and department goals. TGS’
Leadership Team and the Board of Directors hold sessions throughout the year to

discuss the various risks that impact our business and to evaluate sustainability risks andopportunities.

TGS evaluates sustainability risks as part of the annual enterprise risk management

process, which is a multi-tiered process that seeks input from key employees across theorganization, the Leadership Team and the Board of Directors. Through this process,we understand (i) where further action may be needed if a risk’s materiality, impact orprobability of occurring increases (i.e., cybersecurity, macroeconomic event), and (ii)where our risk management efforts are effective because of decreasing materiality,

impact or probability scores. TGS relies upon policies, procedures and guidelines, aswell as targeted action plans with key performance indicators, to measure progress in

mitigating risks. Additionally, each investment decision or significant commercial project
undertaken by TGS incorporates risk analyses that evaluate key operational, health and3

Leadership. Each of these processes, along with our corporate governance principles,within our organization and operations.

In 2022, the Board held sustainability strategy sessions as part of its annual strategy

meeting to focus on TGS’ efforts to diversify its data and service offerings to serve otherindustries such as wind, solar, carbon capture and storage. These sessions consideredcarbon accounting of TGS’ operations, health and safety practices, and improving gender

diversity in the workforce. The Board receives regular reports on TGS’ sustainability efforts
as well as updates on the Company’s data security program, the compliance program

which includes anticorruption and human rights, the operational and workforce health andsafety program, employee engagement and HR efforts. Finally, TGS includes sustainability
targets relating to health and safety and emissions reduction into its long-term incentive
plan, as well as in the 2022 employee profit-sharing plan (see TGS’ 2022 Management
Remuneration Report).

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OUR COMMITMENT

1.3 Materiality and Stakeholder Engagement

TGS’ sustainability strategy is driven by priorities and issues identified as being material

to TGS and our various stakeholders. We recognize our value chain is expanding beyond
oil and gas to incorporate new energy sources, and as a result, the composition of our

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strategy by assessing the materiality of each of these issues to TGS’ business andcommercial success. The chart ranks each sustainability topic based upon thepercentage of respondents who selected the issue as “significantly material” to TGS’
business and commercial success.

key stakeholders is evolving. In addition to the governments, customers and suppliers

Due to the acquisitions of Magseis Fairfield, Prediktor and ION assets and resulting

the communities in which we operate, including non-governmental organizations andmateriality assessment in 2023 and obtain insights from stakeholders. The results from

noted above, other key stakeholder groups include our employees, shareholders andacademia. TGS engages with various stakeholders throughout the year to ensure weclearly understand their priorities and how our business activities impact them.

TGS is a strong proponent of working with local governments, regulatory authorities andnon-government organizations to help identify, understand and mitigate potential risks

associated with its geophysical activities. TGS supports the EnerGeo Alliance (formerly theInternational Association of Geophysical Contractors, hereinafter referred to as “EnerGeo”)
financially and by actively engaging in committees, workgroups and projects throughout
the year. TGS also participates in the National Ocean Industries Association (NOIA) andits Environmental, Social and Governance (ESG) Program. TGS will continue these efforts
as well as look to collaborate with other organizations and stakeholders to promotesustainable practices.

In 2022, TGS continued a customer feedback process to capture feedback frominternal and external customers on its imaging performance on both multi-client andproprietary projects, which is critical to monitoring and assessing customer satisfaction
on the products and services provided by TGS. Performance is rated based upon fivekey performance indicators: People, Turnaround Time, Technology, Quality Control andOperational Innovation. The customer sets the weight of each indicator.

TGS engages with its employees through global quarterly meetings, annual risk
assessments, and strategy sessions to assist in our materiality determination.

Finally, in 2021, TGS conducted an internal assessment with the Board, Leadership andkey employees across all departments and offices to understand which sustainability

issues they consider significantly material to TGS’ operations. As part of this assessment,these individuals are also asked to consider, based upon their experiences with thefollowing stakeholders, how important our customers, shareholders, local communities

or local governments, and NGOs may consider the issue to be in determining whether todo business with or invest in TGS. The results of this survey help define our sustainability
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ENVIRONMENT

changes to TGS’ workforce and commercial operations, TGS will conduct a newthat assessment and stakeholder feedback will be incorporated into TGS’ ESG strategy
going forward.

Development of Renewable Energies

52%

Business Ethics & Anticorruption

52%

Impact to Marine & Land Environments

Innovation & Knowledge Sharing

42%

Inclusion & Diversity

39%

Health & Safety in Operations

Human Rights in the Workforce

32%

Employment & Skills Development

31%

Human Rights in the Supply Chain
Scope 3 Emissions

Corporate Governance18%

Health & Safety in Office14%

Economic Impact & Wealth Creation

Scope 1 & 2 Emissions
Waste Generation

Local Community Impact

12%
7%

6%

12%

22%

29%

37%

48%

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OUR COMMITMENT

1.4 Supply Chain

PEOPLEINDEX

AUDITOR'S REPORTSupply chain management is critical to TGS’ success as TGS did not own or operate

As a result of the acquisition of Magseis Fairfield and diversification of TGS’ business,

2022. TGS operates in accordance with the OECD Guidelines for Multinational Enterprises

These changes will include different types of suppliers and vendors, such as node

vessels or seismic equipment, nor did it employ the crews utilized in our operations inand the Norwegian Transparency Act. To ensure our supply chain understands TGS’priorities and incorporates similar priorities into its business, TGS maintains a Supplier

Code of Conduct that addresses (i) business and ethics integrity, (ii) health, safety and theenvironment and (iii) labor and human rights. In addition, TGS conducts a risk-based due
diligence approach with respect to its supply chain that takes into account the scope ofservices, where the services are to be performed, and the nature of the third party. As

part of this risk-based approach, TGS may evaluate a third party’s compliance, health &safety, environmental, human rights, cybersecurity or other practices to ensure they arealigned with TGS’ policies and procedures and sufficient for the scope of services to be

performed. The third-party due diligence process is overseen by TGS’ Compliance Officer
in relation to ensuring compliance with human rights and the law, and its VP of QHSE, withrespect to compliance with health, safety and environmental practices, both of whom arepart of TGS’ leadership and report to the Board on a quarterly basis.

Given the nature of TGS’ operations, key areas of focus in evaluating third parties include
providing a safe and healthy work environment in marine and onshore operations andensuring compliance with the law, including anticorruption, labor and human rights laws,
when engaging in operations in areas that present a higher risk. TGS focuses its due

diligence on offshore seismic operators, vessel providers, onshore and offshore crew
providers, environmental impact assessment providers, onshore seismic operators,
customs brokers, business development consultants, and local partners and third

parties in higher risk jurisdictions. TGS works with partners and third parties to stress theimportance of operating sustainably, ethically and in compliance with the law and TGS

policies, and incorporates compliance language into our contracts with third parties inproportion to the risk and nature of services to be provided. In the event a third party fails
to operate in accordance with TGS’ policies, procedures or the law, TGS will implement

suitable measures to cease, prevent or mitigate the third party’s actions, which may include
termination of the relationship, remediation and other viable options available under thelaw. How we manage our suppliers with respect to each of these issues is discussed in
more detail throughout this report.

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ENVIRONMENT

the Company anticipates changes to the composition of its supply chain going forward.
manufacturers, and variations in the risk profiles of TGS’ operations as it relates to its

supply chain. As a result, the Company will evaluate its expanded supply chain and modify
its policies and procedures as needed to ensure it is adequately addressing any new orenhanced ESG, HSE and human rights risks.

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1.5 UN Sustainable Development Goals

TGS remains committed to the UN Global Compact, its universal sustainability principles and the Sustainable Development

Goals (SDGs). TGS remains dedicated to incorporating the Global Compact’s principles on human rights, labor, environment andanti-corruption into our strategy, culture and operations. In addition, TGS has identified the following SDGs as being aligned withour business practices and the following chart highlights some of the actions taken in 2022 to support these SDGs.

50%

FEMALENEW HIRES
SINCE 2020

■ Signatory to the UN’s Women’s Empowerment Principles and included■ 13% decrease in scope 1 and 2 emissions between 2022 and 2021

■ Over 50% increase in female new hires since 2020

■ 12% decrease in kwh usage in our data centers despite the sameon the Bloomberg Gender Equality Index in 2023 for the third year in a row

and 21% decrease from 2020

on-premise compute power as in 2021 due to adoption of moreenergy-efficient equipment■ 35% decrease in female voluntary turnover■ Transitioned TGS’ Houston headquarters to fully renewable energy sources■ TGS met its total recordable injury rate targets for both land (TRIR = 0.0)

and marine (TRIR = 1.79) seismic operations. The target was to achieve a
TRIR <9.0 per 1,000,000 exposure hours.

■ TGS achieved full compliance with vessel and land crew HSE audit
requirements■ The average tenure of a TGS employee is 10 years and over 80% of

positions for director and above are filled through internal candidates■ TGS further increased the number of hours of training per employee in

by installing a solar panel parking array and supplementing with renewableenergy from the TGS power grid

■ TGS tracks all spills to the environment, regardless of quantity or substance.
In 2022, there were zero Reportable Quantity (RQ) spills to the marine orland environments during seismic operations. Reportable Quantity spillthresholds are set by local or national agencies and depend on the typeof substance released, and where it was released■ Removed 5.5 metric tons of debris as part of EnerGeo’s Ghost Net Initiativeand require all vessel contractors to track and report as part of this initiative

2022 to 21.6 (from 18.6 in 2021 and 5.8 in 2020)■ Capitalized research & development spending corresponded toapproximately 1.7% of net revenues■ Active participant in EnerGeo and assisted in establishing industry

over 105 geoscience and engineer industry events designed toshare advancements in imaging, data analytics, geoscience, well datatechnologies and solutions for the energy transition – notably carbon
capture, geothermal and wind energy■ Worked with Freedom Solar and the RMR Group to install 15 solar arrays■ TGS hosted, sponsored and/or presented virtually or in-person at

21%

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SCOPE 1 AND 2
EMISSIONSFROM 2020

standards on carbon accounting in seismic operations as well as other safe,
environmentally sound and sustainable practices and removed over 5.5 metrictons of discarded fishing gear and marine debris from the ocean in 2022
covering 210 parking spaces at TGS’ Houston headquarters, which isestimated to reduce carbon dioxide emissions by 1.4 million pounds annually

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1.6 Business Ethics■ TGS values compliance and conducting business in an ethical manner.

antitrust, export controls and trade sanctions, anticorruption and anti-bribery, and insider■ TGS’ compliance program is effective in ensuring TGS is compliant with the law and

TGS is committed to complying with all applicable laws, including fair competition andtrading. We engage in ethical and fair business practices with our clients, partners,

suppliers and other third parties. In return, TGS expects the highest levels of personal■ Their manager provides a good example of ethical business behavior.
ethics.

conduct and fair dealing from all its employees, the Board of Directors, partners and■ Employees receive appropriate training and guidance on the compliance risks relevant

endeavors to not take an unfair advantage in a business situation by acting illegally,■ TGS provides sufficient reporting channels to raise concerns regarding non-Governance. TGS’ Compliance Officer reports to the Board of Directors, provides updates■ Employees know where to go if they have questions about the Code of Conduct or TGS’

Compliance Officer sits on the Executive Leadership Team and participates in regularDue to the acquisitions of Magseis Fairfield, Prediktor and ION assets and resulting

The TGS Code of Conduct sets the standard of responsible conduct and fair businesscompliance assessment in 2023 following the integration to ensure the workforce

any third parties retained on behalf of the Company. TGS believes in competition andunethically or by abusing or misusing confidential information.

on at least a quarterly basis and participates in the Audit Committee meetings. The

leadership meetings, annual planning sessions and departmental business reviews.

practices for every TGS employee and serves as the Company’s ethical roadmap toensure all employees perform their duties with honesty, integrity, and in accordance withto TGS and their jobs.
compliance.

compliance program.

changes to TGS’ workforce and commercial operations, TGS will conduct a newcontinues to maintain a strong understanding of TGS’ compliance program.

the law.

Reporting. TGS provides multiple avenues for TGS’ internal and external stakeholders to

Employee Awareness. Employees are educated on compliance risks as well as TGS

available compliance hotline that allows anonymity, and a dedicated Compliance Officer

policies and procedures, on key topics within our Code of Conduct, through in-person
workshops and mandatory e-learning sessions that employees must complete eachyear. In 2022, 100% of TGS employees completed the Code of Conduct training andcertified their compliance to TGS’ Code of Conduct. This training includes components
on anticorruption and anti-bribery, trade controls and sanctions, human rights andmodern slavery, as well as discrimination and harassment. In 2021, TGS assessed

employee understanding of their obligations by conducting an employee-wide complianceassessment that focused on TGS employees’ (i) perception of TGS’ compliance program

and the ethical leadership of TGS; (ii) understanding and daily enactment of TGS’ Code of

Conduct and compliance program; (iii) perception of TGS’ compliance challenges; and (iv)willingness and comfort with reporting concerns. 71% of employees participated in theassessment, and the results were predominately favorable, with over 95% of participants
agreeing that:report potential non-compliance, raise concerns and seek advice, including TGS’ publicly
and department to advise business units and employees on compliance matters. TGS’

Code of Conduct expressly prohibits retaliation against those who report or cooperate

in an investigation. All reported potential violations of the law and Code of Conduct areinvestigated, including discrimination and harassment, insider trading, conflicts of interest,
financial fraud and corruption issues. All reports are addressed based upon the findingsof the subsequent investigation, and the findings are reported internally. In 2022, one

matter was reported directly or indirectly to the Compliance Officer, compared to five in
2021. The predominant reporting method continues to be directly to the Compliancedepartment, which is supported by the responses to the 2021 Compliance Assessmentin which 78% of respondents indicated that they were comfortable raising compliancematters directly to the Compliance department and over 90% feel comfortable raisingconcerns regarding non-compliance without fear of retaliation. TGS had no significant

issues of non-compliance with any laws or regulations, including those related to humanrights, insider trading, antitrust and anticompetition, corruption, trade controls or sanctions,or financial fraud and did not receive any fines or penalties for non-compliance with theaforementioned compliance laws or regulations in 2022.

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1.7 Anticorruption Efforts

TGS recognizes that preventing bribery and corruption in its operations is essential

in today’s business environment. TGS works to ensure that its employees, as well as

partners and third parties, understand and are sensitive to the legal requirements that
apply to the Company’s operations. These include the U.S. Foreign Corrupt Practices

Act, the U.K. Bribery Act, the OECD Convention on Combating Bribery of Foreign Public
Officials in International Business, and the anti-bribery and anticorruption laws of thevarious countries in which TGS operates or conducts projects.

Employee Awareness. TGS has a variety of policies and procedures to ensurecompliance with anticorruption laws, including TGS’ Anticorruption Policy and Supplier
Code of Conduct, as well as procedures that address training and social welfare

provided as part of government obligations, engagement of high-risk third parties,

giving or receiving gifts or entertainment. TGS’ Anticorruption policy expressly prohibits
bribery, kickbacks and other illegal payments, as well as facilitation payments and

TGS’ Board of Directors and Leadership Team oversee TGS’ cybersecurity strategy andanticorruption training through their annual Code of Conduct training, and TGS had no

incidents from TGS’ Cybersecurity department. TGS’ cybersecurity risks and strategy arepolitical contributions on behalf of the Company. In 2022, all TGS employees received
confirmed instances of corruption in 2022 (same as 2021).

receive periodic reports on TGS’ data security efforts and any notable information security
evaluated on an annual basis as part of TGS’ annual risk enterprise program.

Project Management. TGS conducts a risk-based analysis that assesses the potential

TGS aligns its cybersecurity practices with the NIST Cybersecurity Framework. Annual

the countries in which it will take place; the use of any partners, consultants, suppliers

development of the cybersecurity program. The company promotes cybersecurity

anticorruption risks of projects. This analysis includes a review of the scope of the project;
or vendors; and the necessary mitigation measures to combat the corruption risk. Onlya small portion of TGS’ revenues (<1%) derive from projects located in the 20 countries
ranked lowest by Transparency International in its Corruption Percentage Index.

Third-Party Management. In 2022, TGS conducted due diligence on partner and third-

party relationships (based upon various risk factors including geographic location and natureof services) at the outset of the relationship and updated the information on a regular basis

throughout the relationship and incorporated compliance provisions in the agreements thatprohibit bribery and corruption. The Company continued to require these third parties tocertify their compliance with TGS’ Anticorruption policy and complete online anticorruption
training. TGS also reviewed payments made by these third parties. All of TGS’ international
agents were assigned anticorruption training and a compliance certification. TGS had noreported anticorruption violations by its international agents in 2022.

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1.8 Cybersecurity

assessments are conducted to evaluate the current maturity state and aid in theawareness and education throughout the organization through training and special in-person sessions for employees on the topics of data sensitivity, spear phishing, strong

password practices, fraud, etc. In 2022, TGS grew its Cybersecurity team to strengthen

its capabilities around Incident Detection & Response, Vulnerability Management, Identity& Access Management and other areas. The frequency of Anti-Phishing campaigns

increased to quarterly to measure the effectiveness of the security training and awarenessprogram, the results of which are shared with senior leadership. TGS completed multiple
acquisitions in 2022, which were successfully integrated into our security program. Oneof those acquisitions, Prediktor, obtained ISO 27001 certification in December, indicating
their commitment to compliance with international information security standards.

TGS also continues to maintain a robust cyber insurance program. As a result of TGS’cybersecurity efforts, the company was not impacted by many high-profile cybersecurity
events of 2022 (Log4Shell, Spring4Shell, Google Chrome Zero-Day, ProxyNotShell, etc.).

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1.9 Tax

1.10 Looking Forward

taxes, withholding taxes, sales taxes, customs and social security taxes, and is committed

the compliance, anticorruption, cybersecurity and other governance risks as well as work

As part of its global operations TGS is exposed to different kinds of taxes, including income
to complying with the letter and spirit of tax laws and regulations in the countries in which

it operates. TGS’ Tax policy is set by the Board and managed by the Finance department’s
tax manager who reports to the CFO, participates in Audit Committee meetings andengages with external and local tax consultants who are independent from our auditors,

through the various channels provided by the organization.

or offshore tax centers, nor do we transfer value created to lower tax jurisdictions solely

for a more favorable tax regime. TGS paid USD 36.2 million in taxes in 2022, and below is asummary of the taxes paid in 2022 in TGS’ key jurisdictions.

United Kingdom
BrazilCanadaSingapore

Taxes Paid in 2022*(21,978)
390

1,553

(11,445)(2,048)2

Australia(1,828)

Guyana

(812)

Qatar

business ethics and cybersecurity remain a priority for the company in 2023 through thewhile ensuring that employees and other stakeholders are empowered to raise concernsand structures the project to optimize tax consequences. TGS does not use tax havens

United States

TGS’ policies and practices following the three acquisitions. TGS will continue to ensure

oversight of projects and operations in regions that present a higher risk of corruption,

so that the company understands its exposure to these risks, including double taxation,

Norwayto educate and train employee to ensure consistent governance and understanding ofrisk assessments, training and awareness campaigns, monitoring of information systems,

jurisdictions, TGS assesses the different tax risks as part of the project approval process

Country(All amounts are in USD 1,000s unless noted otherwise)

In 2023, TGS will reassess and update its policies and procedures to ensure they address

frameworks established above. This includes identifying and managing these risks throughwhen necessary. Given that TGS operates globally and conducts projects in different(5)*Included in these amounts are (i) payment of income tax following the 2021 income tax filing; (ii) prepayments of2022 taxes; and (iii) indirect taxes. The amounts in parentheses represent taxes paid and the positive amounts are tax
credits received.

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2. ENVIRONMENT
2.1 New Energy Solutions

In 2022, TGS advanced its New Energy Solutions business. This group is working closely

TGS also intends to grow and develop this business through partnerships and inorganic

Energy Solutions group to create an ecosystem that supports the full project life acrossoffers a broad suite of data, analytics and services for the offshore wind industry, and, inwith TGS’ Data & Analytics and Well Data Products business units as part of our Digital
the energy value chain with data, insights and software solutions. As a result of these

efforts, TGS launched several new projects, including Wind Axiom, a new insight platformto help wind developers explore high-value areas, prepare bids and develop leases, as wellas the first multi-client offshore wind measurement campaign in the New York Bight area.

This campaign is the first of many planned by TGS aimed at providing floating LiDAR windmeasurements, data and insights on a subscription basis to customers within the region.

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growth. As part of the growth strategy, in May 2021 TGS acquired 4C Offshore Ltd., which
June 2022, Prediktor, which offers asset management and real-time data management

solutions to renewable and energy asset owners. These acquisitions provide TGS with thecapability to offer key data and insights for the development and operations of offshore
wind farms as well as asset and data management services to solar farms and otherenergy asset owners.

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2.2 Climate Impact
2.2.1 TGS’ Climate-related Strategy

TGS has been a supporter of the “Task Force on Climate-related Financial Disclosures” (TCFD, set up by the Financial
Stability Board) since 2020. The following chart addresses the financial impacts of climate risks and opportunities.
Below are TGS’ status and goals with respect to climate risk outlined in accordance with the TCFD framework:
GOVERNANCE

STRATEGYTGS Board OversightTGS’ Board of Directors oversees TGS’ strategy and efforts in assessing the financial, businessand operational risks, and opportunities associated with climate change on TGS. The risks
and opportunities related to climate change and its impact on TGS, either directly or indirectly,
and the energy industry, oil price, customer behavior and technology advancement are allconsidered by the Board as part of the annual risk enterprise assessment. The Board also
holds annual strategy sessions in which it evaluates TGS’ business strategy consideringchanges to the industry, market conditions, customer behavior and technology brought onby the impact of climate change. The Board also receives regular operational updates thathighlight the impact climate risk has on operations, as there are changes in environmental
legislation, increased reporting requirements and greater need for stakeholder engagement.
Finally, the Compensation Committee reviews and approves climate goals and objectives
related to executive compensation and TGS’ employee bonus plan.

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RISK MANAGEMENTMETRICS AND TARGETSTGS Leadership’s RoleTGS’ EVP, People and Sustainability, is responsible for overseeing TGS’ sustainability strategy
which includes assessment of the climate-related risks and opportunities and putting inplace a strategy to reduce Scope 1 and 2 emissions. TGS’ VP Operations Support & Special
Delivery and VP of QHSE are responsible for measuring emissions in operations and working
with business units to develop and design surveys with minimal environmental impact. TGS’
EVP Digital Energy Solutions is responsible for providing products and services that assist
our customers in addressing their climate impact through carbon capture and storage andtransitioning to other energy sources like wind or geothermal. Finally, TGS’ entire Leadership
Team participates in the annual risk assessment and strategy sessions, implements the actionplans related to these exercises, and assesses and evaluates all relevant risks, including theimpact of climate change, on projects and corporate strategy.

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AUDITOR'S REPORTTGS’ Climate-related Strategy

GOVERNANCE

STRATEGYTGS’ strategy to address climate impact is influenced by the following key factors: impact ofmarket conditions and the oil price, shifts in customer behavior, advancements in technology
and changes in legislation and policy. TGS regularly reviews and adjusts its strategy to
mitigate and account for the impact of these key factors. In 2021, TGS modified its strategy
to diversify its business and revenue stream to serve carbon capture and storage, deep sea
mining, geothermal energy, wind energy and solar energy. This adjusted strategy addresses
the potential financial impact to the changes in oil and gas exploration and provides business
opportunities for new revenue streams, products and services. TGS aims to achieve thisstrategy through both organic and inorganic growth.

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RISK MANAGEMENTMETRICS AND TARGETS

Risks
Short-term (3–5 years) risks include increased environmental legislation and permitting
requirements, changing customer behavior, uncertainty in the market. Medium-term (5–10
years) risks include carbon pricing mechanisms, mandates and regulations on existingproducts and services, transition to lower-emissions operations, technology advancements.
Opportunities
Short- and medium-term (5–10 years) opportunities include access to new markets andexpansion of data and service offerings.

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AUDITOR'S REPORTTGS’ Climate-related Strategy

GOVERNANCE

STRATEGY

Risks and opportunities are identified, assessed and managed at the overall corporate level,
department level and project level. These risk assessments analyze changes in our industry
and market, customer behavior, environmental legislation and industry practices, anddevelopments in technology.
Identifying Risks
Climate-related risks are identified at a corporate level through the annual risk assessment
process which includes consideration of the energy industry, energy mix, oil price, customer
behavior, technology advancement, and legal and regulatory changes. The impacts of climaterelated risks are assessed as part of the project development and management process tounderstand the impact local rules or regulations may have on permitting, address concerns
to local communities and environments with respect to project impact, assessing technology
solutions. These are identified through environmental impact assessments (EIAs), site surveys,
public or social consultations, engaging with environmental consultants, participation andmembership in industry trade organizations (e.g., EnerGeo, IOGP), project-specific hazard
assessments and consultation with regulators and permitting agencies.

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RISK MANAGEMENTMETRICS AND TARGETS

Managing Risks
TGS commissions EIAs to understand potential impacts on the environment it may operate
in. TGS also employs protected species observers (PSOs) and utilizes passive acoustic
monitoring (PAM) on its operations to ensure our operations do not have a detrimental
effect on the environment in which we operate. TGS employs various other environmental
mitigation measures including conducting soft starts or ramp-ups and placing buffer zones
around environmentally sensitive areas. TGS also coordinates with relevant stakeholders (i.e.,
customers, local communities, government agencies, industry trade organizations, partners,
suppliers, etc.) to ensure we are addressing concerns and mitigating risks as appropriate.
Integrated Risk Management
Risk management is integrated throughout the organization at the corporate level, department
level and project level. TGS’ annual risk enterprise program incorporates environmental andclimate-related risks, as well as TGS’ mitigation measures. TGS’ Board and Leadership Teamalso look at the climate-related risks and opportunities as part of its regular strategy sessions
to ensure that TGS’ short-term and long-term strategies account for all relevant risks andopportunities. TGS also receives regular feedback from its stakeholders, including investors
and clients, and incorporates such feedback into how TGS manages its climate-related risk.

TGS Sustainability Report 2022

OUR COMMITMENTENVIRONMENTPEOPLEINDEX

AUDITOR'S REPORTTGS’ Climate-related Strategy

GOVERNANCE

STRATEGYRISK MANAGEMENTMETRICS AND TARGETS

2022
Scope 1 emissions: < 1 mt CO2e

■ The above accounts for total Scope 1 emissions over which TGS
has financial control

Scope 2 emissions: 9,776.1 mt CO2e

■ The above accounts for total Scope 2 emissions over which TGS
has financial control

Scope 3 emissions (operations): 119,870 mt CO2e
■ The above accounts for emissions derived from fuelconsumption by our vendors
for our marine and onshore seismic operations in 2022

14

Targets
Scope 1 and 2 short-term CO2e target: remain
below the baseline levels established in 2020
(12,355 mt CO2e) and aim for a 10% reduction
year-over-year■ Combined Scope 1 and 2 emissions for 2022 is9,776.43 mt CO2e, which is a 13% decrease from2021 and a 21% decrease from 2020

Scope 1 and 2 long-term target: Net Zero CO2eemissions by 2030

TGS follows the Greenhouse Gas Protocol in classifying,deriving and calculating its emissions. The Scope
1 emissions calculations are based on UK DEFRA –Conversion Factors 2021 using a distance-based
calculation, and using IPCC Fourth Assessment Report(AR4) for global warming potential. Scope 2 emissions
calculations are based upon the IEA International
Electricity Factors (2020), UK DEFRA – Conversion
Factors (2021), US EPA – eGRID 2019 Sub Region and US
EPA – Emissions Factor Hub 2020. Scope 3 marine andonshore field emission calculations are based on fuelemission factors from UK DEFRA – Conversion Factors
2021, using IPCC Fourth Assessment Report (AR4) for
global warming potential.

TGS Sustainability Report 2022

OUR COMMITMENTENVIRONMENT

2.2.2 Scope 1 and 2 Emissions

Brazil, Australia and Canada, and does not operate or own vessels, manufacturing plants

consumption for data processing and high-performance computing are responsible forthe bulk of the emissions related to the generation of purchased energy (Scope 2), with

As a result of this, over 99% of TGS emissions and 96% of kwh usage occurs in TGS’ U.S.

solely related to two vehicles maintained by the company for local deliveries in Houston

and Oslo. TGS does not consider the impact of either our water usage or waste from ouroffices and data centers.

office operations to be material; however, recycling bins for paper and cardboard, glass,

Scope 2 Emissions1

plastic, batteries and print toner cartridges are available in TGS offices, and employees areencouraged to follow proper recycling procedures. In 2022, TGS’ Houston Operational

workforce) composted 13 tons of waste and recycled 2.2 tons of trash, diverting a total of
15 tons of waste (36% of total waste) from being deposited in a landfill.
CO2 (mt)

CH4 (kg)

N2O (kg)

.67

.66

0

0

337.75

2021
2022
1)

CO2e (mt).33337.12.32.45
0TGS Scope 1 emissions include all its operations except for the Magseis Fairfield acquisition. Relevant emissions
data related to this acquisition will begin to be incorporated into TGS’ reporting in 2023. The acquisitions of ION andPrediktor did not have a material impact on TGS’ Scope 1 emissions.
Neither TGS’ Scope 1 nor Scope 2 emissions contain significant NOx, SOx, persistent organic pollutants (POP),
volatile organic compounds (VOC) or hazardous air pollutants (HAP), and as such they are not included in the above
calculations.
T he drop in Scope 1 emissions in 2021 is due to TGS no longer owning the Bedford office facility.

70,000800.0060,000700.00600.00

TFLOPS50,000500.0040,000400.0030,000300.0020,000200.0010,000–100.00
2018

2019

2020

Total on premise compute in TFLOPS

15

2021

2022

kWh per TFLOP required–

Data Centers

29,988,977

11,517.51

2021 Total

28,564,309

11,215.16

Data Centers

26,143,348

10,466.16

2022 Total

25,329,072

9,776.1

1)

Data Centers

23,075,709

9,149.3

3,645,301

2,420,961

2,253,363

1,378.58

769.67626.15TGS Scope 2 emissions include all its offices and data centers except for those leased or maintained by Magseis
Fairfield. Relevant emissions data related to this acquisition will begin to be incorporated into TGS’ reporting in 2023.
The acquisitions of ION and Prediktor did not have a material impact on TGS’ Scope 2 emissions.

Neither TGS’ Scope 1 nor Scope 2 emissions contain significant NOx, SOx, persistentorganic pollutants (POP), volatile organic compounds (VOC) or hazardous air pollutants(HAP), and as such they are not included in the above calculations.
kW hours per TFLOP

2)

12,558.61

Offices0CO2e (mt)33,634,278

Offices.18

kwh

2020 Total (Baseline)
Offices

Headquarters (which is the Company’s largest office with approximately two-thirds of the2

AUDITOR'S REPORT

our Houston data centers comprising 94% of Scope 2 emissions and 91% of kwh usage.

or factories. TGS’ Scope 1 emissions are not material to our overall emissions and are2020 (Baseline)

INDEX

Energy usage in our offices and data centers makes up TGS’ Scope 2 emissions. Energy

TGS leases office space for our employees in the United States, United Kingdom, Norway,

Scope 1 Emissions1

PEOPLEAs the above chart shows, there was an 11% decrease in kwh usage between 2021

and 2022 and a 13% decrease in CO2e emissions. Office emissions dropped by 19%
while data center emissions dropped by 13%. The data center emissions decrease isnotable because our on-premise compute remained flat from 2021 to 2022. The chart

below illustrates how on-premise compute capability measured in teraflops (TFLOPS) has
evolved from 2018–2022 (left axis). The right axis shows an overall trending decreasein the amount of kWh required to run 1 teraflop for a year. As the graph portrays, TGS

is becoming more energy efficient in our compute capabilities at our on-premise data
centers.

for one year

TGS Sustainability Report 2022

Data from TGS' solar panel project
dashboard showing CO2 offsets andenergy production and consumption
during a 3-month period

OUR COMMITMENT

Generation

Power UsageTGS also transitioned its Houston headquarters to 100% renewable energy in 2022

by installing 15 solar arrays covering 210 spaces in the employee parking lot that are

ENVIRONMENTPEOPLEINDEX

AUDITOR'S REPORT

Total Energy Produced 180.5 MWh

POWER EQUIVALENTMONEY SAVEDCO2 OFFSET EQUALS$26K

317,517

CO2 OFFSET

comprised of 1,650 modules that produce over 900,000 kilowatt hours of energy annuallyand supplementing with renewable energy provided by the Texas power grid. Any excessenergy produced by TGS’ solar arrays is also provided back to the Texas energy grid, thus
helping provide energy security to residents of Texas. This office now joins TGS’ Oslo
headquarters and Rio office as being powered by renewable energy.

16

16.1
Homes’ energy use
for one year

Miles driven by avg.
gasoline-powered
passenger vehicle

2,115

Tree seedings grownfor 10 years

TGS Sustainability Report 2022

OUR COMMITMENTENVIRONMENTINDEX

AUDITOR'S REPORT

2.2.3 Scope 3 Emissions – Operations

weather and sea state, ocean currents, fuel type, survey design, transit time during

are generated by marine seismic vessels. These emissions are classified as Scope 3

In 2022, TGS announced the world’s first multi-client offshore wind measurement

by geophysical contractors that specialize in land, marine and airborne geophysicalarea off the U.S. East Coast. Compared to emissions generated through marine seismic

TGS tracks emissions generated through its field operations, the majority of whichemissions (purchased goods and services) because TGS’ field operations are acquired
operations. Tracking, reporting and developing a strategy to reduce and/or offset theseemissions is a critical part of both TGS’ and the industry’s sustainability strategy. As oneof the largest buyers of seismic acquisition capacity, TGS has a unique opportunity to

influence and contribute to ongoing industry efforts to standardize GHG emission tracking
and reporting, but our strategy requires coordination with our contractors who own or
operate the equipment and field crews.

Industry Collaboration. TGS participates in, and contributes to, the EnerGeo’s marine
emissions working group, which is a collective effort supported by marine seismic

contractors and E&P companies to define industry standards and guidance for the seismicindustry on carbon emissions recording and reporting. This working group published an
EnerGeo factsheet in 2021 that outlined the industry’s strategy towards understanding

and defining emissions in marine geophysical operations, including our ambitions towards
successfully managing, tracking and reporting on GHG emissions. In August 2022,

EnerGeo’s working group published a comprehensive guidance document that set themobilization periods, and the type and amount of in-sea seismic equipment being towed.
campaign, launching an advanced floating LiDAR system (FLS) buoy in the New York Bight
operations, emissions related to the deployment and maintenance of the FLS buoys are

significantly lower and accounted for 0.02% of all reported 2022 marine emissions (0.17
mt CO2e/day).

Onshore Operations. TGS’ field contractors track their fuel consumption data based

upon the fuel types and field equipment, which may include helicopters, seismic vibrators,
ATV/UTVs, passenger vehicles, etc. A 3D land survey involves laying out a patch of data

recording nodes in the ground and using seismic vibrators or other conventional seismic
sources to generate a 3D cube of subsurface data. In these types of surveys, fuelconsumption and emissions are impacted by the size of the survey, the equipment andvehicles used, the local environment and geography, and use of helicopters for equipment

transport, scouting or portable heli-drilling. While TGS did not acquire any onshore seismic
data in 2022, fuel consumed by passenger vehicles utilized during field permitting andsurveying activities was collected and is reported, below.

standards for collecting, tracking and calculating emissions in the marine geophysicalindustry. TGS is aligned with the newly released marine emissions guidance and will2022 Scope 3 Survey Emissions Summary by Project Type1

operations.

FLS Buoy

continue to support EnerGeo on developing similar resources for onshore geophysicalMarine Operations. TGS contractually requires all marine contractors to report theircarbon emissions and the factors used to derive emissions from fuel consumption. As
the carbon emissions of a project. The majority of TGS’ 2022 Scope 3 emissions are

CO2e (mt)

CO2 (mt)

CH4 (mt)

27.58

0.01

3D Marine Seismic

99,778.71

98,427.86

OBN/OBC Marine Seismic

20,060.65

19,789.06

27.96

N20 (mt)

24.86

1,325.98

5.00

266.590.37

Subtotal Marine Operations

119,867.32

118,244.50

29.86

1,592.94

Total 2022 Scope 3 Emissions

119,870.07

118,247.24

29.87

1,592.95

Subtotal Land Operations

illustrated in the following charts, the type of survey and field operations directly impact

2.75

2.74

0.01

0.01

from marine seismic projects, which are categorized as either 2D, 3D or nodal (OBC/OBN).

2022 emissions reported for marine operations include mobilization and all vessels used in the survey (primary, chase,
support vessels, etc.). 2022 emissions reported for land operations are related to driving passenger vehicles for
conducting surveying and permitting activities, as no onshore seismic data was acquired during 2022.

vessels that tow less in-sea equipment, resulting in a lower carbon footprint than other2022 FLS buoy emissions, which account for 0.02% of all marine operational emissions (CO2e), are generated by thevessels that were used for deploying the buoy and performing maintenance at sea.

of larger vessels and additional in-sea equipment, which accounts for a higher emissions

Emissions are calculated in Persefoni (3rd-party carbon accounting system) by deriving daily fuel consumption figures
into emissions. Scope 3 marine and onshore field emission calculations are based on fuel emission factors from UK
DEFRA – Conversion Factors 2021, using IPCC Fourth Assessment Report (AR4) for global warming potential

While TGS did not acquire 2D marine surveys in 2022, these types of surveys use smaller
marine seismic acquisition methods. 3D or nodal seismic surveys require a combination
output per square kilometer (2.81 mt CO2e/km2 for 3D and 11.26 mt CO2e/km2 for nodal
surveys). The other factors that impact the fuel consumption of a marine survey include
17

PEOPLETGS Scope 3 survey emissions include all its operations except for the Magseis Fairfield acquisition. Relevant
emissions data related to this acquisition will begin to be incorporated into TGS’ reporting in 2023. The acquisitions of
ION assets and Prediktor did not have a material impact on TGS’ Scope 3 survey emissions.
1)

TGS Sustainability Report 2022

OUR COMMITMENTENVIRONMENTPEOPLEINDEX

AUDITOR'S REPORT

Audits and Reporting. To ensure compliance with the International Convention for thePrevention of Pollution from Ships (MARPOL), the Company requires all vessel contractors

2022 Scope 3 Survey Emissions - Intensity Figures by Survey TypeDistance/
Area
Acquired

Unit

CO2e
(mt/unit)

CO2(mt/unit)

CH4(kg/unit)

N20
(kg/
unit)

2D Marine Seismic

None in 2022

OBN/OBC Marine
Seismic

35,549.93

sq km

2.81

2.77

0.70

37.30

1,782.08

sq km

11.26

11.10

2.80

149.59

0.00

sq km

–

–

–

–

3D Marine Seismic

3D Land Seismic

km

–

–

–

–

2.3 Marine Operations

TGS is committed to protecting marine and coastal ecosystems while ensuring that ourmarine seismic contractors share this commitment. As noted above in our materiality
chart, this issue is material to both TGS and to our stakeholders. TGS recognizes thatto report all spills to TGS, regardless of quantity and substance, and whether the spillentered the marine environment or was contained onboard a vessel. TGS has consistently
met its goal of zero Reportable Quantity spills to the marine environment in our offshore

operations since 2014, with 2022 being no exception. TGS requires all vessel contractors
to comply with all applicable environmental laws and regulations and undergo audits

from the International Marine Contractors Association or Offshore Vessel Inspection

Database (IMCA or OVID). These audits are conducted by trained and accredited third-

party auditors and inspectors, evaluate compliance with all applicable health, safety andenvironmental regulations and industry requirements, and ensure that all required health,safety and environmental permits and certificates are valid. TGS also conducts additional

HSE inspections and audits throughout the acquisition phase of a seismic survey. In 2022,

TGS chartered 34 vessels, including seismic, support, node layout and source vessels, andeach of these vessels underwent the required audits and/or HSE inspections.

if proper mitigation measures are not imposed or enforced, seismic operations andGhost Net & Marine Debris Removal Initiative. TGS supports EnerGeo’s Ghost Net

disrupt or impact the marine environment through possible unplanned spills, pollutionlbs.) of debris from the marine environment through its 2022 operations. This initiative

the towing of acoustic arrays through the marine environment has the potential toor disruption of marine mammal migration paths, spawning groups or other ecologicallysensitive locations. Both the geophysical industry and TGS impose stringent measures toeffectively lessen or negate these potential impacts to the environment.

Project Management. When planning and designing surveys, TGS commissions

environmental impact assessments (EIAs) to identify marine mammal migration paths,

spawning grounds, sanctuary areas or other ecologically sensitive locations that may bepresent in and around the survey area. TGS engages with stakeholders, such as fisheries& Marine Debris Removal Initiative (GNI) and removed a total of 5.5 metric tons (12,125
is an industry-wide effort to remove and collect ocean debris and fishing gear while

conducting marine seismic surveys, with the goal of creating and promoting a healthiermarine environment and ecosystem. This debris is removed from the marine environment
to reduce the harm it presents to ocean life such as turtles, birds, mammals or fish. Since
2020, TGS requires all vessels on TGS projects to report their marine debris removal
efforts to EnerGeo and TGS on a project-by-project basis.

and local communities, to understand their concerns and ensure ongoing communication

2.4 Land Operations

TGS employs protected species observers (PSOs) and utilizes passive acoustic monitoring

onshore seismic surveys may cause to the onshore environment is a material issue tothroughout the duration of the seismic surveys. During the acquisition phase of a survey,

As with our marine operations, addressing and mitigating the potential disruption that

(PAM) to ensure that our field operations do not have a negative effect on cetaceans,

both TGS and to our stakeholders. Onshore seismic surveys have the potential to cause

turtles, marine mammals, etc. When operating in environmentally sensitive or high risk

areas, TGS employs third-party HSE advisors who are tasked with managing all aspectsof health, safety and the environment onboard their respective vessels, ensuring that fullcompliance with all environmental regulations and permit stipulations is achieved.

pollution, physical damage or disturb vegetation or wildlife if these matters are not properly
addressed when planning and executing the survey.

Project Management. TGS engages with local communities to discuss potential
environmental impacts, as TGS recognizes the importance of working with local

communities, stakeholders and landowners to understand their concerns and ensure
18

TGS Sustainability Report 2022

OUR COMMITMENTPEOPLEINDEX

AUDITOR'S REPORT

minimal disturbance to their land. In planning its onshore seismic operations in Canada

Audits and Reporting. TGS requires documented audits of field equipment and HSE

mitigation measures and precautions beyond those set by law or regulation, including:and that HSE procedures adequately mitigate potential impacts. Every spill, regardlessand the United States, TGS has continuously implemented a range of environmental■ Utilizing high-resolution imagery and LiDAR data during pre-planning stages to help
identify environmentally sensitive areas, chart routes of least or minimal impact andavoid tree cutting and vegetation disturbance.

■ Washing equipment to mitigate the potential spread of noxious plants or invasive
species.

■ Planning operations away from riparian areas to minimize potential impacts on aquaticareas.

■ Working with biologists around designated wildlife-sensitive areas and abiding by any
potential timing restriction related to wildlife migration periods.

■ Completing archaeological reviews of proposed survey areas prior to starting

procedures for all new surveys to ensure that all equipment is in proper working orderof the amount or substance, must be reported to TGS, cleaned up and properly disposedof. TGS tracks all spills through its HSE management software system, and there were
no Reportable Quantity spills in 2022 during TGS’ onshore permitting and surveying
operations.

2.5 Looking Forward

In 2023, TGS will continue its efforts to minimize its potential climate and environmental

impacts. TGS has set the target of ensuring its Scope 1 and Scope 2 emissions remain

below the 2020 baseline levels and to achieve its overall goal of Net Zero in Scope 1 and 2
emissions by 2030. TGS will continue its collaboration with the industry to develop unified
carbon accounting standards for seismic operations.

operations and ensuring that archaeologists clear off-road access to protect cultural

The Company will continue with several key initiatives in both its marine and offshore■ Minimize fuel consumption and emissions by utilizing accommodations near the projectThis will include requiring participation in EnerGeo’s Ghost Net Initiative (GNI) for marine

resources.

area and reducing crew exposure hours.

■ Blocking certain access points to recreational traffic within the survey area to allow

vegetation to regenerate naturally and working exclusively on foot in designated areas
to maintain a zero-impact footprint on the environment.

■ Utilizing existing train access and roads to minimize surface disruption and compaction
and suspending vehicle operations during wet ground conditions to prevent surface
deformation.

■ Maintaining regulatory compliance throughout continuous state and federal
inspections.

■ Reducing waste, promoting recycling practices, burning or burying all biodegradable
solid domestic waste without contaminating water bodies during operations.

■ Carrying out reclamation programs to rehabilitate areas disturbed by vehicles
operations.

19

ENVIRONMENT

operations and ensure that its contractors abide by TGS’ environmental standards.

acquisition projects, aiming for zero Reportable Quantity spills to the environment during

seismic operations, requiring documented audits for each project and/or vessel. TGS willcontinue to track its marine field emissions and will also integrate and track emissions

generated through Magseis Fairfield’s nodal operations in 2023. Further, TGS will continue
to explore options to optimize survey design and planning, while continuing to analyze theemissions data that we continue to collect.

TGS Sustainability Report 2022

OUR COMMITMENTENVIRONMENTPEOPLEINDEX

AUDITOR'S REPORT

3. PEOPLE
3.1 Investing in Human Capital

TGS’ workforce largely consists of highly educated, office-based workers in the fields ofgeoscience, geophysics, technology, business and data sciences. TGS predominantly
utilizes contractors for its offshore and onshore seismic operations, data analytics andtechnological software development, and imaging services. Given the composition of

TGS’ workforce and contractors, TGS focuses on ensuring it provides a workplace freefrom discrimination; the right to freedom of association and to collective bargaining; a safeand healthy working environment; grievance mechanisms for employees, contractors andthird parties; total compensation that is market competitive; and training and development
opportunities for our employees. Given the different composition of this workforce, TGS
will reassess its human rights and workforce programs in 2023 to ensure it is properly
addressing its workforce’s needs and concerns.

TGS’ Board of Directors oversees TGS’ workforce and health and safety practices.

In 2022, the Company focused on maintaining and further developing TGS’ culture in lightand implementing TGS’ workforce strategy, including recruitment, retention, total

COVID levels with regular employee gatherings for breakfast, lunch and snack information

TGS’ Executive Vice President, People and Sustainability is responsible for managing
compensation, training and development, diversity and inclusion, prevention of

discrimination and harassment, and ensuring compliance with local labor laws. The EVP,

People and Sustainability, sits on TGS’ Executive team and participates in each of the TGS
Board of Directors’ Compensation Committee meetings. TGS’ Vice President of QHSE ispart of TGS’s broader Leadership Team and is responsible for managing and implementing
TGS’ health and safety program for its workforce and in its operations. TGS’ VP of QHSE

reports to the Board on a quarterly basis as well as presents to the Board during its annual
strategy session.

TGS was largely in a period of transition through 2022 with a strong focus on business andcultural integration given the significant organic and inorganic growth to the workforce in

2022. To measure progress during the period of transition with the acquisition of Prediktor
and hiring of employees from ION, TGS conducted short surveys throughout the year

on specific topics, such as integration, leadership, communication and resource needs.

The results were largely positive and areas of improvement identified to be addressed as
appropriate. TGS will conduct a more detailed Employee Engagement Survey in 2023
following the completion of the integration of the Magseis Fairfield workforce.

of the need to integrate so many new employees. Engagement activities returned to presharing sessions, holiday parties and other culture-building events. Additionally, the CEO
and leadership teams continued to hold regular townhall sessions both by department

and company-wide to continue to reinforce the culture and facilitate communication flow
within the company. TGS continued to invest in technology to facilitate communication

across the global offices and among employees with hybrid working schedules. Employee
support programs [like the external Employee Assistance Program (EAP)] remained in
effect to help ensure employee wellbeing.
Employee Statistics

Total # of Employees at Year-End
New Hires

2021

2020

2019

62

47

49

64

578

443

462

666

Employee Turnover

10%

10%

11%

8%

Employee Tenure

2022

2021

2020

2019

5 to 10 years with TGS

19%

23%

31%

33%

Less than 5 years with TGS
10 to 20 years with TGS

More than 20 years with TGS

20

2022

38%

32%

11%

37%

29%

11%

33%

27%

10%

28%

31%

8%

TGS Sustainability Report 2022

OUR COMMITMENTENVIRONMENTPEOPLE

INDEX

3.1.1 Diversity and Equality

TGS strives to promote and maintain a work environment in which our people are treated with dignity, decency and respect, as outlined

in TGS’ Commitment to Diversity and Inclusion published in 2021. TGS expects the workplace to be free of unlawful bias, prejudice andharassment, and that employment decisions should be made on merit and not on the basis of race, color, national origin, religion, sex,

disability or any other status protected by law. TGS also commits to being transparent in its progress and ensuring Board and Leadershipoversight of its diversity and inclusion efforts. TGS’ policies against discrimination and harassment in the workplace are also reiterated

in TGS’ Code of Conduct and local employee handbooks. Employees may report violations in accordance with the reporting procedures
outlined above. Finally, all TGS employees receive annual training on TGS’ policies prohibiting discrimination, harassment, bullying andretaliation in the workplace and how to promote a diverse and more inclusive working environment.

AUDITOR'S REPORT

2022 Employee Gender Breakdown72%

New Hires 65%

Promotions 78%

Voluntary Turnover 74%
2021 / Male 73% / New Hires 68%
2020 / Male 71% / New Hires 65%

TGS respects national and local laws on freedom of association in the communities in which we do business and the right of all people tojoin or not join a trade union to bargain collectively. 2.8% of our workforce was covered by a collective bargaining agreement in 2022. The
decrease in percentage is due to relatively flat headcount in our Brazil office while the TGS employee population as a whole grew.

to ensure women are given equal opportunity for development and advancement. The energy, energy information and technology industries

27%

future. This is reflected in our new hire gender ratios and leadership ratios. As an organization, TGS is committed to increasing the female

Voluntary Turnover 26%

TGS is committed to improving diversity, and in particular gender diversity, within the organization as well as working with other organizations
historically lean towards employee bases that are more male than female. TGS is committed to being a representative workforce of therepresentation within STEM and leadership positions. For this reason, we’ve started tracking the ratio for trending and comparison purposes.

2022 Age Total Workforce

2022 U.S. Workforce By Race

New Hires 23%
Management 1%

30 - 50 y/o
New Hires 55%
Management 56%

7% 56% 38%>30 y/o

New Hires 23%
Management 1%

30 - 50 y/o
New Hires 55%
Management 56%

56% 38%30 - 50 y/o
New Hires 55%
Management 56%

21

50+ y/o

New Hires 23%
Management 44%

50+ y/o

New Hires 23%
Management 44%

50+ y/o

New Hires 23%
Management 44%

29%

Hispanic or Latino 9%

Two or More Races <1%
Not Disclosed 10%

American Indian or Alaska Native <1%
57% of TGS’ workforce is located in the U.S., and weare working to understand and improve the racial
diversity of our U.S. workforce.

2021 / Female 27% / New Hires 32%
2020 / Female 29% / New Hires 35%

10%Black or African American 3%

White (not Hispanic or Latino) 47%

Promotions 22%<1%

7% 56% 38%Asian 29%>30 y/o

New Hires 34%

47%

9%

3%

<1%

Board of Directors
Executives
Senior Leaders
Middle Managers
Individual Contributors

60%
71%
64%
71%
73%

40%
29%
36%
29%
27%

TGS Sustainability Report 2022

OUR COMMITMENTPEOPLEINDEX

AUDITOR'S REPORTAs part of the plan to increase gender diversity, TGS has implemented a new Parental

2,330 hours of training. Additional online professional certificate courses were provided

U.S., all new parents are able to take advantage of the program which allows for up to 12

conferences and workshops are also encouraged. The number of hours of training per

Leave policy in the United States that more closely aligns with international policies. In the
weeks of 100% paid time off for the care of and bonding with a new child. When combinedwith paid time off through insurance, birth mothers are able to take a full 16 weeks ofin partnership with Google. Informal opportunities through attendance at relevant
employee increased slightly from 18.6 in 2021 to 21.6 in 2022.

100% paid time off. In the U.S. during 2022, we had 7 employees (3 female, 4 male) take

During the summer of 2022, TGS launched a revamped Internship Program to help identify

the statutory parental leave of 49 weeks (15 reserved for each parent) with 100% coveragein-demand technology positions within the Data & Analytics and Research & Development

3 employees (2 female, 1 male) took advantage of this leave, representing ~4% of thematter experts in relevant departments and each intern was assigned a project that could

third year in a row and has formally adopted the United Nation’s Women’s Empowerment

whom two of the top performers became employees. In 2023, the intention is to continue toadvantage of this leave, representing ~2% of the local workforce. In Norway, TGS follows

and recruit strong junior talent into the organization. This program was mostly focused on

or 59 weeks (19 reserved for each parent) with 80% coverage. In Norway during 2022,

teams. Development for interns included structured mentorship with identified subject

local workforce. Finally, TGS is part of the 2023 Bloomberg Gender Equality Index for the

potentially have a lasting, positive impact to company business. There were 11 interns ofPrinciples. TGS continues to be encouraged by the increase in female hires in 2021 andexpand the program with a broader global presence and internships in more departments.

2022 as compared to 2019 as well as the decrease in voluntary turnover among womenin the organization. TGS will need to re-assess and modify its strategy aimed at increasing
gender diversity in light of the addition of offshore employees as part of TGS’ workforce in
2023, as this has largely been a male-dominated profession.

TGS redesigned the Performance Development Plan (PDP) process for the 2021–2022
cycle (completed in 2022) with the intent to empower employees and managers tofocus on meaningful performance and development conversations, ensure employees

continue to develop the necessary skills to grow, and set goals around personal growth

Understanding the average age and tenure of our workforce helps ensure we are

and alignment with corporate strategy. Six core competencies have been identified

average age of a TGS employee is 46 and the average age of the TGS Executive andcommunication, technical and job-specific knowledge, project and task management,

continuing to be an attractive company for those just starting out in the job market. The

as essential development areas and have been incorporated into the PDP process:Senior Leadership team is 49.

teamwork and leadership, business acumen and understanding, and passion and3.1.2 Training and Development

In 2022, TGS maintained the focus on employee engagement through training anddevelopment. The Company provides departmental cross-training opportunities tomotivation. These competencies provide a framework for managers and employees toevaluate performance and development needs in a more focused manner, leading to moretargeted development goals and training. The organization had a greater than 99% PDP
completion rate for employees.

employees and continues to ensure its employees receive technical training and haveTGS is committed to a stable workforce that is developed over time. Over 90% of the

all divisions participated in over 6,760 hours of in-house geological and imaging courses

reflected in two key statistics: average tenure and percent of senior-level positions filled

opportunities to improve their imaging and geoscience skills. This year, employees acrossand lunch-and-learn sessions and 963 hours of software training. TGS also provided

additional professional development training opportunities for all employees through anexternal training partner, offering a diverse range of training and development programs
developed by top universities and companies. Our employees were encouraged touse this platform through the inclusion of a training and development goal in their 2022

Performance Development Plan. A total of 171 unique courses were taken, accruing over

22

ENVIRONMENT

workforce in Norway is full-time. TGS believes that the investment in employees iswith internally trained and developed employees.

10.49 Years

Average Employee Tenure81%

Director and above
positions filled internally

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3.1.3 Compensationthat are reviewed on an annual basis by the Compensation Committee of the Board

Department

Percentage ofWorkforce

Percentage
FemaleAverage Female Total
Cash Compensation
as a % of Average
Male Total Cash
Compensation

benefits programs, and a profit-sharing bonus plan based on the Company’s performance

Multi-client

15%

35%

83%

TGS is committed to compensating its employees fairly and in accordance with allapplicable labor laws. TGS’ compensation philosophy is based upon market conditionsof Directors. Employee compensation includes base salary, insurance and retirement
and, in certain cases, stock-based, long-term incentive awards.

As TGS’ profit-sharing bonus plan is a key component of employee compensation, TGS
incorporated a strategic component in addition to profitability component in the 2022

Digital Energy Solution

22%

Imaging

34%

39%

Operations

14%

7%

Corporate, Staff and Support

20%

17%

57%

profit-sharing bonus. The strategic component is based upon key performance indicators
linked to emissions reduction, health and safety, and advancements in our Imaging

Performance and Digital and New Energy Solutions. TGS’ long-term incentive program

continues to incorporate sustainability metrics, such as health and safety and emissions
targets (see TGS’ 2022 Executive Remuneration Report).

Executive

TGS’ lowest salary is significantly above the national minimum wages. The table below

shows TGS’ CEO is paid between 8.98 to 11.73 times the median target compensation ineach of TGS’ main offices. The below compensation analysis only includes employees
who have base salary and 2022 bonus targets, and as such, excludes new hires or
employees who were not bonus eligible in 2022.
Median TGS Target CompensationTGS CEO Pay Multiple

Norway$120,864
11.30xU.S.

$152,090
8.98xManagement
Level

UK

$116432
11.73xThe raw average female total cash compensation as a percentage of male total

cash compensation at TGS, without taking into account position, geographical pay

differences or department, is 79%. The following charts provide a more detailed gendercompensation analysis by department and by position within TGS, without taking into
account geographical pay differences in compensation. These charts only include

employees who have base salary and 2022 bonus targets, and as such, excludes new hires
or employees who were not bonus eligible in 2022, to provide a more precise comparison.

75%
86%

109%

80%

Percentage ofWorkforce

Percentage
FemaleAverage Female Total Cash
Compensation as a % of
Average Male Total Cash
Compensation

3%

36%

97%

Senior Leader

Middle Manager
Individual
Contributor

2%

20%
76%

33%
31%
28%

60%
83%
73%

3.2 Health and Safety
3.2.1 Integrating Health and Safety into TGSTGS is committed to providing a safe, healthy and sustainable workplace for our

employees, contractors, vendors and clients; and as noted at the outset of this report,
safe and healthy operations are considered a significant material issue to TGS and its

stakeholders. TGS management continually strives to eliminate risk and reduce hazards,
but successful operations can only be achieved through the full cooperation andcommitment of all TGS employees and contractors.

Governance. TGS promotes a top-down message of health and safety and each memberof TGS’ Executive Management conducts at least one HSE facility inspection and one

field visit per year. In 2022, TGS executives achieved 100% participation and completion.
TGS also actively engages with relevant trade associations and authorities to develop,

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TGS Sustainability Report 2022

OUR COMMITMENT

implement and update our HSE standards. TGS’ VP of QHSE is responsible for managing
and implementing TGS’ HSE-Management System (HSE-MS) and reports directly tosenior management, providing quarterly updates to both TGS Leadership and the Board of

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AUDITOR'S REPORT

Certificate of Recognition, marking the 6th consecutive year in a row that TGS has scored
90% or higher on an external audit of its health and safety program.

Directors.

Contractor Management. TGS engages with its subcontractors in reviewing a range

Employee and Contractor Awareness. The VP of QHSE provides HSE information,

HSE plans and emergency preparedness documents. TGS monitors and assesses

training and resources to employees through regularly scheduled safety meetings, internal

inspections and audits, HSE review meetings and general company-wide communications.
TGS requires all employees and contractors to be accountable for, and committed to, theirown health and safety, as well as for those they work with. Employees and contractors

are empowered to intervene and STOP any operation or activity that they feel is unsafe

or hazardous, with the knowledge that such action will be supported by management. All

employees completed one HSE training module during 2022 (99.8% training compliance)covering workplace safety. At the beginning of 2022, TGS’ VP of QHSE reinstated theoffice HSE representative program, assigning one employee per TGS office location toassist with quarterly office inspections, incident investigations, HSE training opportunities,

identifying workplace hazards, etc. Additionally, TGS’ internal HSE webpage was revamped
in 2022, providing company-wide access to a range of HSE information including accessto TGS’ HSE-Management System, travel safety information, contact information for

TGS’ HSE representatives, etc. Finally, during the summer of 2022, TGS’ HR and HSE

departments kicked off the 2nd inaugural “TGS Around the World Challenge” to create

a fun and engaging event for its employees, while focusing on health benefits and safe

practices. Like the inaugural challenge in 2021, the 2022 challenge involved employees
tracking individual distances achieved through various exercise types (hiking, running,

cycling, kayaking, etc.), with the goal of traveling a total of 33,239 km from Perth, Australia
to Rio de Janeiro, Brazil, making stops at each TGS office location around the world.

HSE-Management System. TGS defines safe operating procedures and guidelines in

its HSE- Management System (HSE-MS) designed to meet or exceed all appropriate legal

requirements and, in the absence of any defined standards, to meet or exceed industry-wide
best operating practices. In 2022, TGS completed a full update of its HSE-Management

System, providing access to the documents to all of its employees through TGS’ internal

HSE webpage. Additionally, TGS’ VP of QHSE provided all TGS employees with information
about the HSE-MS, outlining its purpose, how it’s organized and where to find information.

Lastly, TGS’ Canada Land Operations division received 95% on the Government of Alberta’s

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ENVIRONMENTof HSE-related documents, including HSE project plans, hazard assessments, crew

contractor performance by tracking and reviewing a range of leading and lagging HSE
indicators to ensure adequate and correct incident information was collected and thesituation remedied. TGS requires contractors to report all near-miss and high-potential

events to identify and share lessons learned, ensure adequate mitigation measures were

implemented, and to safeguard personnel and equipment. Where necessary, TGS assists
and participates in incident investigations. HSE performance is tracked and catalogued
through TGS’ HSE-MS software application, allowing TGS to continuously monitor its

contractors’ performance over time. Upon completion of a survey, TGS reviews all aspectsof HSE performance to identify and discuss areas for improvement, lessons learned andadditional hazards identified during the acquisition phase. HSE statistics and performanceare reviewed with the senior management team on a quarterly basis. In 2022, TGS

achieved full compliance with vessel HSE audit requirements, and TGS Project and HSE

Managers ensured that all outstanding action items were properly rectified before the startof acquisition. Additionally, TGS conducted HSE-MS audits of its field contractors to verify

that their procedures and approach to managing HSE on field operations were aligned withindustry standards and expectations.

3.2.2 COVID-19 Related Efforts

Office Operations. At the onset of the COVID pandemic in 2020, TGS enacted its business
continuity plan and established global and local response teams, with oversight frommembers of the Executive team, to monitor the pandemic and implement a successful

response strategy. In 2022, TGS’ COVID response teams continued to monitor guidancefrom health and government authorities and adapted their local response plans accordingly.
TGS continued to encourage its employees to stay home when feeling ill, while continuing
to provide its employees with access to cleaning supplies, hand sanitation stations, etc.

Field Operations. Prior to commencing field operations, TGS continued to liaise closelywith marine and onshore contractors regarding their COVID travel and mitigation plans,

while ensuring clients and other relevant stakeholders were kept abreast of TGS’ actions

TGS Sustainability Report 2022

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Sustainability Report
3.2.3 2022 Health and Safety Key Performance Indicators

regarding COVID. Contractors progressively relaxed their COVID mitigation strategies
throughout 2022, easing or lifting in-country quarantine periods, pre-board testing

Employees. There were no lost time incidents reported for TGS employees in 2022 (LTIR

requirements and other restrictions. Instead, vessel contractors focused on adequately= 0). There was 1 medical treatment case (MTC) involving a trip & fall incident in a TGS

responding to COVID situations identified onboard, on isolating positive cases andemployee parking lot, resulting in an annual TRIR of 1.19. The number of sick days taken

providing care, and on enforcing enhanced COVID mitigation measures during and after

and the sickness absence frequency values showed a decrease from 2021 to 2022, whichcrew changes.

is possibly due to employees choosing to work from home when feeling mildly ill.

TGS Employee HSE Statistics: 2012-20221

Exposure Hours

5

1,500,000

41,000,000

32500,000

1

0

0

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

TIRIR

0.69

0.65

1.81

0.64

0.91

0.00

0.00

0.00

1.03

0.00

1.19

Absence Frequency

0.60

0.69

0.57

0.53

1.11

1.15

0.97

1.10

0.62

0.85

0.69

LTIR

Exposure
Hours

Sick Days Taken

0.00

0.00

0.00

0.00

25

0.00

0.00

0.00

0.00

0.00

0.00

1,439,769

1,544,897

1,661,076

1,562,934

1,103,829

991,465

937,044954,685

966,411812,142839,324

1,620

1,327

1,193

1,040

1,536

1,421

1,135

1,311

752

862

724

Total Recordable Injury Rate (TRIR) & Lost Time Injury Rate (LTIR) are calculated per 1 mil. exposure hours
1)

0.18

Employee HSE statistics include exposure hours related to all TGS employees (including Prediktor and ION) except for the Magseis Fairfield employees. That data will begin to be incorporated into TGS’ reporting in 2023

TRIR - LTIR - Absence Frequency

6

2,000,000

TGS Sustainability Report 2022

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Contractors. In 2022, TGS operated with several established marine and onshore seismic contractors, all of which were selected based on their experience, technology, sustainability,commitment to the environment, HSE performance and track record.

7,000,000

14

6,000,000

12

5,000,000

10

4,000,000

8

3,000,000

6

2,000,000

41,000,000

2

0

TRIR
LTIR

MVAR

Exposure Hours
Miles

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

0.68

0.00

0.64

0.15

0.34

0.35

0.00

0.87

0.31

0.47

0.00

10.91

4.88

4,395,645
3,484,994

4.72
4.21

3,812,190
2,847,819

6.45
2.12

4,646,905
3,304,289

3.71
2.16

6,466,840
4,175,854

1.34
0.00

2,975,592
4,175,854

2.84
0.00

2,821,187
1,022,689

4.60
1.32

2,607,162
2,264,244

2.18
0.50

3,232,981
1,998,261

1.55
0.00

3,232,981
419,693

1.42
0.00

2,258,284
574,4807

TRIR - LTIR - MVAR

Exposure Hours - Miles Driven

Field Contractor HSE Statistics: 2012-20221

0

1.79
0.00

2,240,400
7,839

Total Recordable Injury Rate (TRIR) and Lost Time Injury Rate (LTIR) are calculated per 1 mil. exposure hours. Motor Vehicle Accident Rate (MVAR) is calculated per mil. miles driven. TGS records 24 hours of exposure for marine crews, and 12
hours of exposure for onshore and airborne crews.
1)

Contractor HSE statistics include exposure hours related to all TGS contractors except for the Magseis Fairfield contractors. That data will begin to be incorporated into TGS’ reporting in 2023.

TGS tracked a similar count of contractor exposure hours in 2022 compared to 2021. No lost time incidents occurred on any TGS field operation (LTIR = 0). Three restricted work cases(RWCs) and 1 medical treatment case (MTC) were recorded for marine contractors, bringing the total number of recordable incidents to 4 for 2022 (compared to 3 for 2021). There were no
incidents recorded for onshore field operations. TGS’ MVAR came under the 2022 target of <2.0 for onshore operations, as there were no motor vehicle accidents recorded (MVAR = 0.0).
TGS’ 2022 TRIR for marine and onshore operations came under the target of <9.0 (TRIR = 1.79).

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3.3 Human Rights

TGS is committed to respecting fundamental human rights, providing decent working

conditions, avoiding infringing upon the human rights of others and addressing adverse
human rights impacts as part of its operations in accordance with the NorwegianTransparency Act, United Nations Guiding Principles on Business and Human Rights and
UN Universal Declaration of Human Rights. TGS also respects the International Bill of

Human Rights and the International Labor Organization’s Declaration on Fundamental

Principles and Rights at Work and undertakes to operate in recognition of the freedom,
the rights, the dignity and the worth of the human person and promotion of equality
irrespective of gender, race or religion.

TGS’ Statement of Values and Code of Conduct define the expectations of ethical behaviorof TGS’ Board of Directors, employees, vendors and suppliers. TGS embraces diversity

and equality in its workforce and suppliers and will not use or tolerate child labor or slavery
in any of its offices or operations. As set forth in TGS’ Modern Slavery Act Transparency
Statement, Supplier Code of Conduct and Human Rights policy (each available on www.

tgs.com), TGS sets policies at the group level and is committed to ensuring that there is no
modern slavery or child labor used in its operations or by its supply chain.

Materiality and Risk Management. TGS analyzes human rights and modern slavery
risks within the organization and our supply chain as part of our annual corporate riskenterprise program. In 2021, TGS evaluated our employees’ perception of human rights

and modern slavery risks at TGS, both in the office and in the supply chain, and experience
with incidents of modern slavery or violations of human rights laws in the past year. TGS
will repeat this exercise in 2023 following the significant changes to the workforce andoperations that occurred in 2022. As previously noted, TGS’ employees are highly skilled
and educated and predominantly based in offices and as such, TGS considers the riskof child labor or modern slavery in its workforce to be low. As with any company that

predominantly relies upon contractors for its operations, the potential risk for humanrights violations is greater within TGS’ supply chain. However, given that TGS conducts its
operations through a limited pool of suppliers, many of which have operated with TGS for

many years, and that geophysical operations require a skilled and certified workforce, TGS
feels the measures outlined below properly mitigate this risk.

Supply Chain. TGS expects its supply chain to share its commitment to human rights

and modern slavery laws. As part of its due diligences process, TGS requires suppliers to

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AUDITOR'S REPORT

disclose their policies with respect to human rights and modern slavery and managementof human rights issues in its supply chain and any human rights or modern slavery

investigations, lawsuits or violations involving the supplier. TGS contractually requires

suppliers and vendors to comply with human rights, modern slavery and labor laws, as well
as TGS’ Supplier Code of Conduct and Human Rights policy, to ensure their supply chainsdo the same, in their work for TGS, and to notify TGS of any potential or actual violationof these laws. TGS has the contractual right to audit a supplier or vendor to ensurecompliance with human rights laws as well as the right to terminate for violation of theselaws or TGS’ policy. Finally, high-risk third parties, suppliers and vendors also complete a

certification of compliance on an annual basis that addresses their compliance with humanrights, labor and modern slavery laws, TGS’ Human Rights policy and Supplier Code of

Conduct. TGS had no cause to audit or terminate a supplier for failure to comply with thelaw or TGS’ human rights policies in 2022.

Reporting. TGS provides multiple avenues for TGS’ internal and external stakeholders toreport potential non-compliance with the law or TGS’ Code of Conduct, including modern

slavery or human rights abuses. These mechanisms include the TGS hotline, which allows

for anonymous reporting, and TGS’ prohibition of retaliation. No incidents of child labor orforced labor were reported in 2022.

Community Engagement. TGS actively supports reputable charitable programs andorganizations that serve people in need in countries where TGS has offices or projects
by providing ongoing financial donations, as well as encouraging employees to donate

their time and energy to help those in society who are less fortunate. TGS is committed
to supporting local, nonprofit community organizations and charities that focus theirservices on people and are dedicated to (i) providing access to healthcare, medical

services and helping to fight disease; (ii) assisting underprivileged, underrepresented
or at-risk communities or groups; (iii) providing humanitarian aid or disaster relief; (iv)addressing environmental issues; or (v) promoting geophysics and geoscience educational
experiences to children. In 2022, TGS supported organizations that provided resources

to women, children and families escaping domestic violence in the U.S., organizations thatprovided relief to Ukrainians and refugees impacted by the war in Ukraine, local food banks
and the SEG Foundation’s Geoscientists without Borders program.

TGS Sustainability Report 2022

OUR COMMITMENT

3.4 Innovation

TGS believes in collaboration with other geologists, geoscientists, data scientists andengineers to encourage innovation within our industry and within the Company.

TGS capitalized USD 12.1M (USD 11.4M in 2021) corresponding to 1.7% of net revenues(IFRS). TGS hosted, sponsored and/or presented virtually or in-person at over 105

geoscience and engineer industry events (compared to 34 in 2021) designed to shareadvancements in imaging, data analytics, geoscience, well data technologies and solutions
for the energy transition – notably carbon capture, geothermal and wind energy. Significant
events included the National Association of Petroleum Engineers (NAPE) Summit, thecombined annual meeting and conference for the Society of Exploration Geophysicists(SEG) and American Association of Petroleum Geologists (AAPG) and the European

Association of Geoscientists and Engineers (EAGE) Annual Meeting. TGS presented 43

technical papers (compared to 56 papers in 2021) at conferences and published in otherindustry publications during 2022, covering topics relevant to the industry, including key

PEOPLEINDEX

AUDITOR'S REPORTMDIO also serves as the foundation for our new suite of cloud tools. These tools takeadvantage of the ability to only turn on compute resources when necessary instead of the
traditional method of having servers waiting for job submissions. This not only reduces

TGS’ need to purchase new hardware, it greatly reduces TGS’ overall electrical usage fordelivering data.

3.5 Looking Forward

Given the significant growth in the TGS workforce over the past year, integration along withretention of key employees will be a key focus for 2023. This includes maintaining TGS’strong culture around performance and teamwork, ensuring we create a work environment
focused on inclusion, and provide multiple communication channels to share information

and resources. TGS will also re-evaluate its workforce-related policies and procedures aswell as compensation and benefits to ensure it remains competitive in the relevant markets
and suits the needs of its workforce.

developments in acquisition and imaging technologies and the use of these technologies

In 2023, TGS will undertake a gap analysis of its current HSE-MS against Magseis

universities around the world to provide data to further their research; and in 2021, TGS

and will release the final management system by the end of Q3 2023. TGS intends toin different basins or regions and for the energy transition. TGS works with academia andsupported research projects and consortia at the Imperial College London, Memorial
University of Newfoundland, Colorado School of Mines, Oklahoma State University,

University of Louisiana at Lafayette, Heriot-Watt, University of Houston, Royal Holloway and

Bedford New College, Oxford University, the University of Oslo and the University of Bergen.
Additionally, in conjunction with our partners CGG and PGS, TGS launched a unified

ecosystem for accessing multi-client seismic data across multiple vendors called Versal.

Versal is an independent, secure, cloud-based ecosystem that allows clients easy accessto all their data and entitlements in one place. It will improve decision-making by reducing
uncertainty and provide access to over 70% of the seismic multi-client market through asingle vendor-neutral system.

Continuing TGS’ commitment to innovation and social responsibility, TGS developed andopen-sourced a new file format for storing SEGY called MDIO. MDIO allows for seismic

data to be stored in a manner that makes it easily accessible not only for traditional data
usage, but also makes the data accessible to ML/AI initiatives without having to makecopies of the data. TGS has also realized a 30%+ reduction in disk space necessary forstoring our data on hard disks vs storing the data in the industry standard SEGY format.

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ENVIRONMENT

Fairfield’s HSE-MS. TGS is aiming to complete this exercise by the end of Q2 2023

integrate the two management systems in a well-planned and systematic manner, witha goal to produce a final QHSE management system that is designed to ensure that allof TGS’ operations are conducted safely, while meeting or exceeding industry-wide bestpractices and standards. TGS’ Health and Safety goals for 2023 include aiming for a

Total Recordable Case Frequency (TRCF, per 1,000,000 man-hours) below 6.0, taking

into account TGS offices and all field operations. The Company will also continue with

its update of local emergency response plans and crisis management plans. Contractor
management on operations remains a key material issue and focus for TGS in 2023, andthe Company has incorporated key performance indicators related to this in its 2023
employee bonus program.

TGS Sustainability Report 2022

OUR COMMITMENT

4. ABOUT THE REPORT, DATA SUMMARY AND INDEXThis Sustainability Report communicates to our investors, customers, suppliers andother stakeholders how TGS incorporates sustainable practices into our operations andstrategy. This report covers the activities and operations of TGS ASA and all its wholly

owned subsidiaries in 2022 with the exception of Magseis Fairfield, for the reasons noted
in footnote 1. It is the opinion of the Board of Directors that this report complies with
Norwegian statutory requirements for annual reporting and its obligations under the

Norwegian Transparency Act. The remainder of the annual report includes additional
information on TGS’ business, financial and operation performance, shareholder
information and corporate governance.

EU Taxonomy. TGS does not fall under the (EU) 2021/2139 (EU Taxonomy). TGS will

have to report in accordance to the regulation as of the financial year 2023. TGS havefor 2022 conducted an analysis of its operations and revenues to assess whether any of
its activities are considered eligible activities under the EU Taxonomy. TGS specificallyfocused on whether any of its operations or revenue aligned with the screening criteria forclimate change mitigation and climate change adaptation as defined by the EU Taxonomy.
At this time, TGS does not have any activities that meet the screening criteria underTurnover KPI under the EU Taxonomy; we have not for the financial year 2022 analyzed

purchased capital expenditure (e.g., leasing of office space) or operational expenditure.

Thus TGS has no revenue, operational expenditures or capital expenditures to report under
the Taxonomy. However, TGS will update its analysis in 2023 as the Company continues
to expand and diversify its offerings into renewable energy sources and to find ways its
products and services can support our customers’ energy transition efforts.

Sustainability Standards. TGS uses key sustainability frameworks to guide our non-financial disclosures, with reference to the Global Reporting Initiative (GRI), Sustainability

Accounting Standards Board Standards (SASB), Task Force on Climate-Related Financial
Disclosures (TCFD) Recommendations, UN Sustainable Development Goals, UN Guiding
Principles on Business and Human Rights Reporting Framework, IPIECA and the World

Economic Forum core set of ESG metrics. We view this report to be our Communication

on Progress to the United Nations (UN), and this report identifies actions taken by TGS to
specifically address the UN Sustainable Development Goals material to our operations.

We also engage with several third-party firms that collect and report on ESG performance
including Bloomberg, CDP, S&P Global’s CSA, Sustainalytics and MSCI ESG. TGS’ 2022
ESG evaluations are included following the index.

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OUR COMMITMENTENVIRONMENTPEOPLE

Category

Topic

MetricGovernanceRisk Management

Description of management systems used to identify and mitigate catastrophic and tail-end risks

Governance
Governance
GovernanceMateriality

Stakeholder Engagement
Business Ethics

List material topics and process followed to determine material topics
Describe approach to engaging with stakeholders

Reporting mechanism and number of matters reported in 2022

GovernanceBusiness Ethics

Amount of net revenue in countries that have the 20 lowest rankings in Transparency International's Corruption
Perception Index

GovernanceBusiness Ethics

Description of the management system for prevention of corruption and bribery throughout the value chain

GovernanceBusiness Ethics

GovernanceBusiness Ethics

Number of employees and third parties who have received training on TGS' Code of Conduct and anticorruption
policies and procedures

GovernanceTax

Approach to tax, governance, control and risk management, and country-by-country report of tax

Environmental

Affordable & Clean Energy

Efforts related to advancements in renewable energy

Environmental

Ecological Impact

Discussion of strategy or plan to address risks and opportunities related to ecological impacts from core
activities

Environmental

Climate Impact

Discussion of strategy or plans to address air emissions-related risks, opportunities and impacts

Environmental

Climate Impact

Scope 1, Scope 2 and Scope 3 emissions and targets

Social

New Employee Hire and Turnover

Report of new hires and employee turnoverSocialWorkforce Diversity

Percentage of workforce by age, gender, tenure, and race (for US employees)

GovernanceSocialSocialSocialMembership Organizations

Collective Bargaining Agreements
Gender Diversity
Compensation

Confirmed incidents of corruption

Report industry and membership organizations in which the company participates in a significant role

Percentage of total employees covered by collective bargaining agreements
Proportion of women in managerial positions

Ratio of total annual compensation of CEO to median annual total compensation and wage levels

SocialHealth & Safety

Description of health and safety management systems

SocialHealth & Safety

Hazard identification, risk assessment and incident investigation

SocialHealth & Safety

Worker participation, training and promotion of health and safety within the workforce

SocialHealth & Safety

Work-related injury and illness statistics

SocialTraining & Development

Average hours of training per year per employee and programs for upgrading employees skills and development

SocialHuman Rights

SocialInnovation

Description of human rights and prevention of modern slavery including number of incidents of forced or childlabor
Percentage of research and development expenditure as a proportion of revenue

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Reporting Standard(SASB, GRI, UN SDG)

SectionNumberGRI 3-1, GRI 3-2(a)Section 1.3

GRI 2-29

Section 1.3

EM-SV-540a.1

GRI 2-26, GRI 2-27

Section 1.2
Section 1.6

EM-SV-510a.1

Section 1.7"EM-SV-510a.2
GRI 205-1(b)"Section 1.7

GRI 205-2
GRI 205-3
GRI 2-28"GRI 207-1, GRI 207-2
GRI 207-4"
SDG 7"EM-SV-160a.2, GRI 304-2
SDG 14, SDG 15""EM-SV-110a.2
SDG 13""GRI 305-1, GRI 305-2
GRI 305-3, GRI 305-4
GRI 305-5, SDG 13"

Sections 1.6
and 1.7

Section 1.7
Section 1.3
Section 1.9
Section 2.1

Sections 2.3
and 2.4

Section 2.2
Section 2.2

GRI 401-1

Section 3.1.1

GRI 405-1

Section 3.1.1

GRI 2-30(a)SDG 5

GRI 2-21(a)"GRI 403-1
EM-SV-320a.2"
GRI 403-2"GRI 403-5
GRI 403-6""GRI 403-9
EM-SV-320a.1""GRI 404-1
GRI 404-2""GRI 409-1
SDG 8"SDG 9

Section 3.1.1
Section 3.1.1
Section 3.1.3
Section 3.2
Section 3.2
Section 3.2
Section 3.2.3
Section 3.1.2
Section 3.3
Section 3.4*TGS does not operate wells or drills, nor do we engage in operations related to hydraulic fracturing or drilling. Therefore, the following SASB metrics within Oil & Gas - Services are not material or relevant to our operations or the services
we provide: EM-SV-110a.3 (percentage of engines that meet Tier 4 compliance for non-road diesel engine emissions); EMV-SV-140a.1 and a.2 (water consumption in operations providing hydraulic fracturing, completion, drilling and/or water
management services); EM-SV-150a.1 and a.2 (volume of hydraulic fracturing fluid used, percentage hazardous; strategy or plans to address chemical-related risks, opportunities and impacts); EM-SV-160a.1 (average disturbed acre per (i) oil and(ii) gas well site); EM-SV-000A (number of active rig sites); EM-SV-000.B (number of active well sites); EM-SV-000.C (total amount of drilling performed)

30

TGS Sustainability Report 2022
KPMG AS
Sørkedalsveien 6
Postboks 7000 Majorstuen
0306 OsloOUR COMMITMENTENVIRONMENTPEOPLEINDEX

AUDITOR'S REPORT

Telephone +47 45 40 40 63
FaxInternet www.kpmg.no
Enterprise 935 174 627 MVA

We apply International Standard on Quality Control 1 and accordingly maintains a comprehensive
system of quality control including documented policies and procedures regarding compliance withethical requirements, professional standards and applicable legal and regulatory requirements.
To the management of TGS ASA

Independent Limited Assurance Report on TGS’ 2022
sustainability reporting
Scope of the engagement

We conducted our engagement in accordance with International Standard on Assurance
Engagements (ISAE) 3000 (revised) – “Assurance Engagements other than Audits or Reviews ofHistorical Financial Information”, issued by the International Auditing and Assurance Standards Board.
The standard requires that we plan and perform the engagement to obtain limited assurance about
whether the Report is free from material misstatement.

We have been engaged by the management of TGS ASA ('TGS') to provide an independent
assurance report in respect of TGS’s 2022 sustainability reporting (“the Report”, see sections 1-4).

Procedures performed

We have performed the assurance engagement to obtain limited assurance that the Report is
prepared, in all material respects, with reference to the Global Reporting Initiative (“GRI”) Standards
as described in section 4 in the Report.
The scope of our limited assurance engagement excludes future events or the achievability of theobjectives, targets and expectations of TGS. The scope also excludes information contained in
webpages referred to in the Report unless specified in this limited assurance report.
Our conclusion
Our conclusion has been formed on the basis of, and is subject to, the matters outlined in this limited
assurance report.
We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for ourconclusions.
Based on the procedures performed and the evidence obtained nothing has come to our attention, to
indicate that the Report is not presented, in all material respects, with reference to the GRI Standards
as described in section 4 in the Report.
Management’s responsibility
Management is responsible for the preparation of the Report, and the information and assertions
contained within it, is prepared with reference to the GRI Standards as described in section 4 in theReport.
Management is also responsible for such internal control as management determines is necessary toenable the preparation of a Report that is free from material misstatement, whether due to fraud or
error, and for preventing and detecting fraud and for identifying and ensuring that TGS complies withlaws and regulations applicable to its activities.
Our independence and quality control
We are independent of the Company as required by laws and regulations and the International Ethics
Standards Board for Accountants’ Code of International Ethics for Professional Accountants (includingInternational Independence Standards) (IESBA Code), and we have fulfilled our other ethicalresponsibilities in accordance with these requirements.

31

Auditor’s responsibility
Our responsibility is to perform a limited assurance engagement and to express a conclusion basedon the work performed.

A limited assurance engagement consists of making inquiries, primarily of persons responsible for the
preparation of information presented in the Report, and applying analytical and other evidence
gathering procedures, as appropriate. The procedures selected depend on our understanding of theReport and other engagement circumstances, and our considerations of areas where material
misstatements are likely to arise. Our procedures included:•

A risk analysis, including media search, to identify relevant sustainability issues for
TGS in the reporting period;•

Inquiries of management to gain an understanding of TGS's processes fordetermining the material issues for TGS's key stakeholder groups;•

Interviews with senior management and relevant staff at corporate level
concerning sustainability strategy and policies for material issues, and theimplementation of these across the business;•

Interviews with relevant staff at the corporate level responsible for providing theinformation and consolidating the data in the Report;•

Reviewing relevant internal and external documentation, on a limited test basis, inorder to determine the reliability of the Report;•

Reading the information presented in the Report to determine whether it is in linewith our overall knowledge of, and experience with, the sustainability performanceof the TGS;•

Comparing the information presented in the Report to corresponding informationin the relevant underlying sources to determine whether all the relevant
information contained in such underlying sources has been included in the Report;•

Comparing the information presented in the Report to the GRI Standards as
described on in section 4 of the Report; and•Assessment of the GRI index

TGS Sustainability Report 2022

OUR COMMITMENT

The procedures performed in a limited assurance engagement vary in nature and timing from, and areless in extent than for, a reasonable assurance engagement, and consequently the level of assurance
obtained in a limited assurance engagement is substantially lower than the assurance that would havebeen obtained had a reasonable assurance engagement been performed.
Inherent limitations
Due to the inherent limitations of any internal control, it is possible that errors or misstatements in theinformation presented in the Report may occur and not be detected. Our engagement is not designed
to detect all weaknesses in the internal controls over the preparation of the Report, as theengagement has not been performed continuously throughout the period and the procedures
performed were undertaken on a test basis.
Oslo, 24 March 2023
KPMG AS

Julie Berg
State Authorized Public Accountant

32

ENVIRONMENTPEOPLEINDEX

AUDITOR'S REPORTTGS Office Locations

USA

Operational Headquarters
Houston, Texas | USA
10451 Clay Road
Houston, Texas 77041, USAUSA8921 South Sam Houston
Parkway West, Suite 100
Missouri City, Texas 77489
USA

NORWAY

Corporate Headquarters
Askekroken 11, Oslo, 0277,
NorwayTel: +47 22 55 04 00
Fax: +1 713 334 3308

Tel: +1 713 860 2100
Fax: +1 713 334 3308

Tel: +1 281 275 7700
Fax: +1 713 334 3308

BRAZIL

AUSTRALIACANADA

Tel: +61 8 9480 0000
Fax: +61 8 9321 5312

Tel: +1 403 781 1710
Fax: +1 403 781 1700

Av. Presidente Wilson No.
23114o.Andar, Sala 1404
Centro, Rio de Janeiro, CEP
20030-021
Tel: +55 21 3995 3328
Fax: +1 713 334 3308

Level 9, 220 St George’s
Terrace Perth, WA 6000,
Australia

Suite 720 335 8th Ave SW
Calgary, Alberta T2P 1C9,
CanadaUK

Dukes Court, Duke StreetWoking, GU21 5BH, UK
Tel: +44 (0) 1483 730201
Fax: +44 (0) 1483 762620

TGS.com