TGS

Robert HobbsChief Executive Officer

Pareto Securities Oil & Offshore Conference, 10-11 September 2014

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All statements in this presentation other than statements of historical fact, areforward-looking statements, which are subject to a number of risks, uncertainties,and assumptions that are difficult to predict and are based upon assumptions as tofuture events that may not prove accurate. These factors include TGS’ reliance ona cyclical industry and principal customers, TGS’ ability to continue to expandmarkets for licensing of data, and TGS’ ability to acquire and process dataproducts at costs commensurate with profitability. Actual results may differmaterially from those expected or projected in the forward-looking statements.TGS undertakes no responsibility or obligation to update or alter forward-lookingstatements for any reason.

Forward-Looking Statements

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This is TGS

Leading and global provider of multi-client seismic data

Traded on Oslo Stock Exchange, in OBX Index (25 most liquid shares at the OSE)

Market Cap: ~$3 billion

TGS Main Offices Leading provider of multi-client seismic

data and related geoscientific products to the oil & gas industry

Main offices: Houston and OsloRegional offices: London, Perth, Calgary, Singapore and Rio de Janeiro

Fundamental values: Unmatched Quality and Service, Growth for Stakeholders

Approximately 900 employees

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TGS Competitive Advantage

Asset light business model Flexibility Investment decisions not driven by vessel utilization Vendor neutral philosophy allows access to capacity

and technology as needed

Quality Balance sheet People and culture Data processing Geoscience

Global Geographically diverse data library Leadership in mature basins Leadership in frontier basins

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Diversified Portfolio With Different Characteristics

Return targetsReturn targets

Prefunding requirementsPrefunding

requirements

Project characteristics

Project characteristics

Illustrative IRR / cash profile

Illustrative IRR / cash profile

Characteristics

+ 1.7X 2.0X – 2.5X + 2.5X

70 – 120% 40 – 60% 20 – 40%

• Awarded acreage• Onshore areas • Fewer clients• Farm-ins / relinquishments• Low downside risk

IRR: High

TGS multi-client project portfolio

0 1 2 3 4

Cash Sales

0 1 2 3 4

Cash Sales

0 1 2 3 4

Cash Sales

IRR: High / Medium IRR: Medium

• Mainly open acreage• Regular license rounds• Established multi-client areas• Many clients• Medium risk

• Open acreage• Early stage• Geo knowledge• Many potential clients• Medium / high risk

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0%

10%

20%

30%

40%

50%

60%

70%

80%

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

ROCE WACC

TGS Performs in all Cycles

Average EBIT margin above 40% - stable EBIT – performance through the cycles

ROCE significantly above WACC – substantial value creation in any industry cycle

*Peer group includes CGG, Geokinetics, ION Geophysical, PGS, Western Geco, Dolphin, Polarcus Source Platou Markets and TGS

EBIT margin vs. Seismic peers Return on Capital Employed

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Financials

8

129

243179

34118

214 223

660

50

100

150

200

250

300

Q32012

Q42012

Q12013

Q22013

Q32013

Q42013

Q12014

Q22014

Cash Flow from Operations

Key Financials

99 65 56 43 43 44 74 60

139 204

127 155 138218 137 137

713

29 129

10

11 8

0

50

100

150

200

250

300

Q32012

Q42012

Q12013

Q22013

Q32013

Q42013

Q12014

Q22014

Net Revenues

Prefunding Late sales Proprietary

245 281 211 210 191 271 222 205

101118

89 9880

12094 82

0%

10%

20%

30%

40%

50%

020406080

100120140

Q32012

Q42012

Q12013

Q22013

Q32013

Q42013

Q12014

Q22014

EBIT before non-recurring items

EBIT EBIT Margin

13895

126 110 11192

129 114

0100200300400500600700800900

0

25

50

75

100

125

150

Q32012

Q42012

Q12013

Q22013

Q32013

Q42013

Q12014

Q22014

Clo

sing

NB

V

Inve

stm

ent

Multi-client NBV and Investments (operational)

Investment NBV

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Investments per Vintage at 30 June 2014

299

153

270

381

823

0

100

200

300

400

500

600

700

800

900

2010 2011 2012 2013 WIP

Original investments Maximum allowed NBV (year-end) Net Book Value

100%

40%

5%9%

20% 12%

60%

3 %

18%

62%

43%

13%0%

0%

10

829

1280

394

86208

32185170

Assets Equity and Liability

Strong Balance Sheet Backing TGS Strategy

Multi-client Library

Receivables

Cash

Other

Goodwill

Equity

Non-current liabilities

Current liabilities Cash balance per Q2 2014 represents 208 MUSD

Dividend of 145 MUSD paid in June 2014 Strong balance sheet provides excellent

opportunities to continue growth M&A Strong credit quality attracts prefunding Flexibility

No interest bearing debt and strong cash balance

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Strong Cash Generation Supports Dividend Growth

4

5

6

88.5

3.0%3.2%3.4%3.6%3.8%4.0%4.2%4.4%4.6%4.8%5.0%

0

1

2

3

4

5

6

7

8

9

2009 2010 2011 2012 2013Dividend USD Dividend yield

* Dividend yield calculated based on share price at day of announcement

In addition to an increased dividend, the Board has authorized a share buy back program of USD 30 million of which USD 3.4 million has been implemented at end of Q2

Dividend and share buy back program represent approximately USD 170 million in cash returns to shareholders NOK 10.3 per share

Dividend per share (NOK) and Dividend Yield* 2014 Dividend Yield vs. OSX Index*

8.07.3

4.9

2.3 2.0 1.8 1.5 1.4 1.3 1.0 1.0 0.9 0.6

0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0

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* The OSX Index (PHLX Oil Service Sector Index) is a price weighted index composed of companies involved in the oil services sector.

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2014 Operational Highlights

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Geographically Diverse portfolio of 3D Projects

2014 3D Acquisition Francisco – 6,700 km2 long-offset, deep

water Gulf of Mexico

Olho de Boi, Brazil – 5,000 km2 in partnership with Dolphin

HFCE14 – 3,100 km2 Hoop Basin

P-CableTM – approx. 500 km2 high resolution in partnership with WGP

Brendan Basin – 2,500 km2 West of Shetland

Erlend Basin – 900 km2 West of Shetland

Nerites – 8,300 km2 Great Australian Bight

Nerites Season 2 - 13,000 km2 Great Australian Bight

Huzzas – 2,100 km2 Barrow sub-basin, Northwest Australia

BR-13 – 2,200 km2 Benin

SL Block 4a Extension – 1,000 km2 Sierra Leone

Diversified portfolio of 3D projects in prolific basins

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Active year for 2D Seismic Projects

Phase 51 - 28,273 km deep water Gulf of Mexico

NF101 Tail of the Bank - 2,474 km Eastern Canada

Chukchi Sea - 3,626 km

West Greenland - 27,700 km

North Sea Renaissance (NSR) - 10,825 km

Mid Norway (MNR) - 90,350 km

Barents Sea South East - 18,326 km (NPD data)

Madagascar - 20,330 km

Namibia - 10,167 km

Malta - 5,613 km

2014 2D Reprocessing

2014 2D Acquisition Newfoundland Labrador - >30,000 km

partnership with PGS

Snipe Phase 52 - 12,000 km long offset ultra-deep water Gulf of Mexico

NBR14 - 9,300 km long offset extension, eastern Barents Sea

Northeast Greenland - 12,000 km (multi-year)

MS-14 Madagascar - 1,950 km in partnership with BGP

AN-14 and CSM-14, Madagascar - 8,800 km

New Zealand - 17,000 km Reinga, Northland and Taranaki basins

Mexico - Vessels secured for entry into Mexico (subject to legislation and permit)

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Cheyenne – 1,800 km2 multi-client 3D project in Colorado focused on liquid plays in Mississippian and Pennsylvanian intervals

Rush Creek – 440 km2 multi-client 3D project in Texas focused on Granite Wash, Hogshooter, Cleveland Sands, Atoka and Tonkawa geological trends. Builds on existing 160 km2 3D survey recently purchased by TGS

Pendryl – 400 km2 multi-client 3D project in Central Alberta focused on emerging Duvernayplay

Washout Creek – 65 km2 high density multi-client 3D / 3C project addressing multiple plays in Central Alberta

Freeport and Waterford – 1,217 km2 and 210 km2 high resolution, wide aperture surveys providing critical data for geotechnical evaluations of the emerging Utica play and other intervals

TGS Continues to Invest Onshore North America

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TGS applies appropriate technologies to address imaging challenges associated with specific geologies and operating environments

TGS acquires complementary data products to expand and enhance its geoscience data library

Enhancing Value through Technology

Clari-FiTM Data Processing(Images courtesy of TGS)

CSEM(Images courtesy of EMGS / TGS)

P-WaveTM

(Images courtesy of WGP / TGS)Ocean Bottom Nodes

(Images courtesy of Fairfield)

P-Cable High res 3D (Hoop NE) Normal MC3D (Hoop NE)

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Well Log Coverage by Country

TGS owns and manages a global well log database Strong synergies with multi-client seismic data business

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Outlook

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Softer E&P Spending Outlook

E&P Spending 2000 – 2015E

Source: Rystad Energy Ucube August 2014

Strong E&P spending growth in 2010 – 2013 followed by expectations of a softer market in 2014 and 2015

Continued focus on capital discipline among the oil companies and pressure on cash flow cause oil companies to reduce spending growth

Rystad Energy estimates global E&P spending growth of low-single digit percentages for 2014 and 2015

-10%

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35%

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E&P Spending (BUSD) YoY change (%)

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Current Market Provides Opportunities to Grow Market Share

17%

21% 21%19%

23%22%

27%

2008 2009 2010 2011 2012 2013 1H14

TGS Market Share: Multi-Client Revenue

Current market characterised by capital discipline among oil companies; provides opportunities to grow market share

TGS’ combination of strong balance sheet and high backlog position the company well for further growth

1H-2014 multi-client market share of 27% confirms ambition to grow market share in a softer market

Source: Company. Peer group consists of TGS, CGG, PGS, WesternGeco, ION, SPU, PLCS, DOLP, MCG, SBX, EMGS, Fugro

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License Round Activity and TGS Positioning

Europe / Russia• Norway APA – Sep 2014 (bids due)• Norway 23rd Concession – H2 2015 (bids due)• United Kingdom – Apr 2014 (closed)• Denmark – Oct 2014 (bids due)

Africa, Middle East, Asia Pacific• Madagascar – 2014/15 (expected)• Sierra Leone – 2014/15 (expected)• Liberia – Oct 2014 (bids due)• Australia – Oct 2014 , Feb 2015 & Apr 2015

(bids due)• Indonesia – Jul & Oct 2014 (bids due)

North & South America • Central GOM – Mar 2015 (5-Year Plan)• Western GOM – Aug 2015 (5-Year Plan)• Alaska Offshore - 2016 & 2017 (5-Year Plan)• Newfoundland & Labrador – Nov 2014, Nov 2015 & Nov 2017

(bids due)• Nova Scotia – Oct 2014 (bids due)• Canada Onshore – at least monthly• Brazil - 2015 (expected)

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Capacity Secured for 2014 EURAMEAP

NSA

3D Vessel Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

CGG Alize

BGP Prospector

Sanco Swift

Polar Duchess

Geo Caspian

Geco Eagle

Polarcus Naila

Bergen Surveyor (P-CableTM)

Polarcus Alima

AustraliaAustralia

2D & Other Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

BGP Challenger

Geo Arctic

Sanco Spirit

Atlantic Explorer

Akademik Shatskiy

Atlantic Guardian (CSEM)

Polar Prince (Seafloor Sampling)

Juliana (Seafloor Sampling)

Aquila Explorer

Osprey Explorer

Land Crew Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Colorado Crews 1 & 2

Texas Crew

Canada Crew

Ohio Crew

Canada PGS JVCanada PGS JV

Gulf of MexicoGulf of Mexico

CheyenneCheyenne

Rush CreekRush Creek

PendrylPendryl

Brazil JVBrazil JV

BeninBenin

AustraliaAustralia

WOCWOC

MadagascarMadagascar

MadagascarMadagascar

NW EuropeNW Europe

JVJV

NW Europe JVNW Europe JV

NW EuropeNW Europe

NW EuropeNW Europe

FreeportFreeportWaterfordWaterford

Canada PGS JVCanada PGS JV

NW Eur EMGS JVNW Eur EMGS JV

Canada JVCanada JV

GreenlandGreenland

NW Eur JVNW Eur JV

JVJV

New ZealandNew Zealand

Gulf of MexicoGulf of Mexico

Sierra LeoneSierra Leone

AustraliaAustralia

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Summary

2014 on track with Q2 revenues of 205 MUSD Q2 2014 Operating profit of 82 MUSD, 40% of net revenues Q2 2014 multi-client investments of 114 MUSD TGS continues to benefit from its well positioned library and

continues to see high quality investment opportunities Strong backlog Application of new technologies Onshore

Guidance for 2014 unchanged: Multi-client investments 390 – 460 MUSD

Average pre-funding 45 – 55%

Average multi-client amortization rate 40 – 46%

Net revenues 870 – 950 MUSD

Contract revenues approximately 5% of total revenues

Thank you

©2013 TGS-NOPEC Geophysical Company ASA. All rights reserved.

Robert HobbsCEO