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TGS TGS EARNINGS RELEASE 2nd QUARTER 2021 RESULTS 2nd QUARTER 2021 FINANCIAL HIGHLIGHTS Energy starts with us . IFRS ( all amounts in USD 1,000 unless specified otherwise ) Q2 2021 Q2 20201 YTD 2021 YTD 2020¹ Operating revenues Operating profit ( EBIT ) - Operating profit margin Net income EPS ( fully diluted ) ( USD ) Organic multi - client investments in new projects Inorganic multi - client investments Amortization and impairment of multi - client library Multi - client library net book value Free cash flow ( after multi - client investments ) Cash balance Return on average capital employed² Segment reporting³ ( all amounts in USD 1,000 unless specified otherwise ) Operating revenues - Pre - funding revenues - Late sales 71,861 -14,817 -21 % 66,156 -96,942 257,602 53,784 118,324 -154,858 -147 % 16 % -258 % -11,969 -78,001 30,600 -108,309 -0.10 -0.67 0.26 -0.93 32,654 5,000 59,941 77,399 69,220 215,705 0 871,430 114,418 1,126,750 5,000 149,064 871,430 15,000 18,362 223,400 -10,000 198,483 102,252 223,400 195,250 1,126,750 -8,858 198,483 -8 % -3 % - Proprietary revenues EBITDA Operating profit - Operating profit margin Amortization and impairment of multi - client library Multi - client library net book value Pre - funding rate Return on average capital employed² Q2 2021 Q2 20201 YTD 2021 YTD 2020¹ 53,602 95,848 128,438 247,908 14,080 37,944 39,412 121,222 35,898 54,814 80,648 117,759 3,623 3,089 32,201 56,310 -24,545 -83,568 -46 % -87 % 8,377 83,459 -44,580 -35 % 8,927 181,848 -102,983 -42 % 51,409 579,818 130,735 788,549 118,264 579,818 272,959 788,549 43 % 49 % 57 % 56 % -12 % 5 % " Our asset - light business model , robust balance sheet and strong cash flow continue to enable us to take advantage of strategic opportunities , both in our subsurface data business and in our New Energy Solutions segment . This is despite the ongoing challenging market conditions for multi - client seismic data , which we do not see as substantially improving in the near term . However , based on dialogue with our largest customers , we remain confident that we will ultimately see a recovery of the market . " says TGS ' CEO Kristian Johansen . 1 Foreign exchange losses have been restated with USD 26.2 million in Q1 2020 and with USD 1.9 million in Q2 2020. Refer to note 2 of the interim financial statements for more details . 212 months trailing . 3 Revenues of projects in progress recognized on a Percentage of Completion basis . Please refer to note 4 of the interim financial statements for more details . TGS | Q2 2021 EARNINGS RELEASE 1