December Company Presentation

This is TGS Main offices: Oslo and Houston Regional offices: London, Perth, Calgary, Singapore, Mexico and Rio Calgary London Oslo Fundamental values: Unmatched Quality and Service, Growth for Stakeholders Mexico Approximately 630 employees Traded on Oslo Stock Exchange, part of OBX Index (25 most liquid shares at the OSE) Houston Rio Singapore Perth Market Cap: ~$2 billion Leading global provider of multi-client seismic and geoscience data TGS-NOPEC Geophysical Company ASA. All rights reserved. 3

Well positioned in the seismic value chain MULTI- CLIENT SERVICES Geophysical Data 2D Seismic 3D Seismic Wide Azimuth (WAZ) Seismic M-WAZ Seismic Full Azimuth Nodal Seismic Electromagnetics (CSEM) Aeromagnetics Gravity Multi-beam Geological Data Digital well data Directional Surveys Production data Seabed / Seep studies Regional geologic interpretation Facies Map Browser Interpretive services Imaging Services Seismic processing Complex depth imaging Proprietary technology Ongoing R&D investment Contract business model TGS-NOPEC Geophysical Company ASA. All rights reserved. 4

250 200 Net Revenues Late sales revenues 100 80 Prefunding revenues 150 100 50 0 226 2014 72 82 90 90 38 84 67-26% Y/Y 60 40 20 0 62 2014 94 53 74 37 23 26-47% Y/Y 39 Proprietary revenues Total revenues 10 300 8 6 4 2 0 9 2014 6 5 5 5 3 3 37% Y/Y 7 250 200 150 100 50 0 298 2014 172 140 169 132 64 114 113-33% Y/Y TGS-NOPEC Geophysical Company ASA. All rights reserved. 6

Multi-Client Library Operational investments 200 150 100 50 0 Operational investments and prefunding ratio 126 2014 163 116 135 88 53 62 68 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Prefunding ratio 1,000 950 900 850 800 750 700 818 2014 876 Multi-client library - NBV 919 976 839 830 823 816 Operational investments Prefunding ratio 20 % 700 600 Investments year of completion 609 Net revenues vs net book value year of completion 70% 62% 60% 500 400 381 427 398 50% 40% 39% 300 200 100 0 270 236 70% 20% 32% 56% 0% 12% 2012 2013 2014 YTD WIP Original investments Net Book Value 30% 20% 10% 0% 13% 6% 3% 0% 0% 2% Fully amortized 17% 19% 18% 10% 7% 4% 2012 2013 2014 YTD WIP Net revenues Net book value TGS-NOPEC Geophysical Company ASA. All rights reserved. 7

New Project Announced North West Africa North West African Atlantic Margin NWAAM2017 Over 11,500 km of multi-client 2D seismic in partnership with PGS Designed to infill, extend and complement the TGS NWAAM2012 2D survey which helped with recent commercial discoveries in the basin A 12 km deep-tow streamer will enable the recording of high quality broadband 2D seismic data Confirms TGS commitment to the leading frontier basin in Africa, where TGS already has over 28,000 km of 2D data and over 18,000 km 2 of 3D data TGS-NOPEC Geophysical Company ASA. All rights reserved. 8

Change year-on-year (%) Continued challenging near-term outlook Change in Global E&P Spending Industry late sales 40 30 27 26 23 21 23 19 22 20 16 16 15 19 14 11 7 8 10 6 3 2 0-10 -8-10 -20-30 -25-26-27 MUSD 600 500 400 300 200 100-40 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 E 2017E 0 Source: SEB Research Source: ABG Sundal Collier Second consecutive 20%+ decline in E&P spending expected this year Some improvement in fundamentals from the beginning of the year but still weak market Most initial E&P Spending surveys indicate a further decline in offshore spending in 2017 But activity level may be approximately flat when adjusting for impact of pricing Seismic demand likely to remain weak into 2017 with high volatility from quarter to quarter TGS-NOPEC Geophysical Company ASA. All rights reserved. 10

Exploration spending likely to recover long-term Two factors point to increased exploration activity in the longer-term 1. Current exploration efforts are unsustainable 2. Cost levels should eventually come down to levels that justify higher spending at current oil prices TGS-NOPEC Geophysical Company ASA. All rights reserved. 11

1. Current exploration efforts are unsustainable Organic reserve replacement ratio Integrated oil companies avg. oil reserve life 180% 160% 140% 120% 100% 80% 60% 40% 20% Years 14 13 12 11 10 9 8 7 0% 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 6 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Source: SEB Research Substatial reduction in oil companies exploration spending Seismic spending down more than 60% since peak in 2013 Source: Nordea This has resulted in historically low exploration success Only 2.7bn barrels of new conventional oil supply was discovered in, the lowest since 1947 (Wood Mackenzie) Global reserve replacement ratio well below 1 in -16 Current situation is not sustainable TGS-NOPEC Geophysical Company ASA. All rights reserved. 12

2. Costs are coming down USD/bbl 160 140 120 Integrated oil companies break-even oil price ROCE 10 largest integrated oil companies vs. Real Brent oil price 25% 20% Avg. ROCE 1990-: 12% Avg. real Brent: USD 53 per bbl 120 100 100 80 60 40 20 0 ROCE 15% 10% 5% 0% 80 60 40 20 0 Brent USD/bl Brent oil price Break-even after CAPEX (USD/bbl) Break-even after CAPEX and div. (USD/bbl) ROCE Brent (RHS) Source: Nordea, EIA, TGS Substantial cost reductions in E&P and service industries break-even prices have fallen almost 50% from peak Historically the largest oil companies have been able to produce decent return on capital at real oil prices of around USD 50 per barrel TGS-NOPEC Geophysical Company ASA. All rights reserved. 13

The TGS strategic approach Asset light Low capital intensity no interst-bearing debt No vessel ownership few long-term capital commitments Investment decisions purely commercial no «group considerations» + Flexible and quickly reacting Flexible cost base - low degree of fixed costs Quick decision processes Technology netrual Counter-cyclical investment philosophy + Quality people Best-in-class geo-science knowledge Commercial mindset understanding the customers needs Strong performance culture built up over more than two decades Strong return on capital employed* High correlation cash inflow and cash outflow 60% 50% 1,000 800 Free Cash Flow Cash inflow Cash outflow = 40% 30% 20% 10% MUSD 600 400 200 0% 2007 2008 2009 2010 2011 2012 2013 2014 * Adjusted for larger impairments 0 2007 2008 2009 2010 2011 2012 2013 2014 E TGS-NOPEC Geophysical Company ASA. All rights reserved. 15

Solid Balance Sheet Backing TGS strategy Balance sheet remains healthy through down-cycle Cash balance per of 173 MUSD Undrawn Revolving Credit Facility of 75 MUSD Other Goodwill Cash Receivables Multi-client Library 65 68 173 275 816 198 44 1155 Current liabilities Non-current liabilities Equity Assets Equity and & Liability 1,994 Market Capitalization (in USD millions) Strong share price relative to sector TGS market capitalization of ~2 BUSD Represents ~52% of industry (ex-slb) Strong currency to explore inorganic investment opportunities 696 163 87 18 17 10 2 319 TGS CGG PGS SPU ION PLCS EMGS MCG SBX TGS-NOPEC Geophysical Company ASA. All rights reserved. 16

Diversified multi-client portfolio 2.5x + Return targets 1.7-2.0x 2.0-2.5x Investment Investment Sales Sales Investment Sales Prefunding requirements 70-120% 40-60% 20-40% Investment Prefunding Investment Prefunding Investment Prefunding IRR: High IRR: High/medium IRR: Medium Illustrative IRR/ cash profile 0 1 2 3 4 0 1 2 3 4 0 1 2 3 4 Cash flow Sales Cash flow Sales Cash flow Sales Project characteristrics - Awarded acerage - Mainly open acerage - Open acerage - Onshore areas - Regular license rounds - Early stage - Fewer clients - Established multi-client areas - Geo knowledge - Farm-ins / relinquishments - Many clients - Many potential clients - Low downside risk - Medium risk - Medium/high risk TGS-NOPEC Geophysical Company ASA. All rights reserved. 17

Summary Continued challenging markets near-term Still downward pressure on E&P spending High volatility from quarter to quarter Positive long-term outlook Oil companies have to increase exploration efforts to avoid falling production profiles TGS is in a favourable position Quality library Strong balance sheet Flexible business model TGS-NOPEC Geophysical Company ASA. All rights reserved. 18

License Round Activity and TGS Positioning North & South America Central GOM Mar 2017 (5-Year Plan) Central & Western GOM Aug 2017 (2017-22 Plan) Newfoundland & Labrador Nov (Scheduled Land Tenure) Nova Scotia 27 Oct (3-Year Rolling Plan) Canada Onshore at least monthly Brazil - 2H 2017 Mexico Round 1(L04) in Dec, Round 2 announced for 2017, 2 more rounds proposed by 2019 Africa, Middle East, Asia Pacific Ongoing uncertainty on timing of African licensing rounds Australia Dec, Feb & Mar 2017 (bids due) New Zealand Dec (awards expected) Indonesia Direct proposal (bids closed Aug ); Regular tender (bids due Nov ) Europe / Russia Norway APA 2017 (block awards) Norway 24 th Round Nov (nominations due) UK 29 th Round 26 Oct (bids due) Greenland Dec, 2017, 2018 (bids due) TGS-NOPEC Geophysical Company ASA. All rights reserved. 20

Backlog 350 Historical Backlog (MUSD) 2012-300 250 200 150 100 50 0 143 146 2012 2013 185 2013 178 2013 281 2013 213 224 2014 2014 260 2014 293 2014 193 242 182 145 125 103 71 TGS-NOPEC Geophysical Company ASA. All rights reserved. 21

Projects Schedule NSA EUR AMEAP Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Akademik Lazarev Greenland Aquila Explorer Hawk Explorer Mexico Mexico Osprey Explorer Mexico Northern Explorer Mexico Mexico 2D & Other Harrier Explorer Fugro Multibeam Mexico Mexico TDI Brooks Coring Mexico Sanco Spirit Atlantic Explorer BGP Explorer Canada JV Canada JV Australia BGP Dong Fang Kan Tan 1 NWAAM Artemis Atlantic P-Cable Norway (Proprietary) Ramform Sterling Canada JV 3D WesternGeco Coil Crew GOM Land Canada Crew Chickadee TGS-NOPEC Geophysical Company ASA. All rights reserved. 22

Income Statement USD million, except EPS Change in % Net revenues 113 169-33% Cost of goods sold proprietary and other 5 0.1 8222% Amortization of multi-client library 70% 74 99-25% Gross margin 34 71-52% Personnel costs 12 14-19% Other operating expenses 8 8 5% Cost of stock options 0.2 0.1 94% Depreciation 3 3 9% Operating profit 10% 11 46-76% Net financial items 2-2 214% Profit before taxes 11% 13 44-70% Taxes 11 4 220% Net Income 2% 2 40-96% EPS, Undiluted 0.02 0.40-95% EPS, Fully Diluted 0.02 0.39-95% TGS-NOPEC Geophysical Company ASA. All rights reserved. 23

Cash Flow Statement USD million Change in % Received payments from customers 110 145-24% Payments for operational expenses (25) (23) -7% Paid taxes 6 (1) 552% Operational cash flow 91 121-24% Investments in tangible and intangible assets (2) (1) -63% Investments in multi-client library (62) (72) 14% Investments through mergers and acquisitions - (19) 100% Interest received 0.7 1-43% Interest paid (0.03) (0.06) 53% Dividend payments (17) (14) -19% Proceeds from share issuances - 2-100% Change in cash balance 11 17-36% TGS-NOPEC Geophysical Company ASA. All rights reserved. 24

Balance Sheet USD million Change in % Assets Cash and cash equivalents 173 162 7% 163 Other current assets 275 255 8% 308 Total current assets 449 417 8% 471 Intangible assets and deferred tax asset 88 92-4% 90 Other non-current assets 21 16 27% 25 Multi-client library 816 823-1% 839 Fixed assets 23 26-11% 30 Total Assets 1,397 1,375 2% 1,455 Liabilities Current liabilities 198 171 16% 218 Non-current liabilities 7 4 59% 6 Deferred tax liability 37 33 12% 33 Total Liabilities 242 208 16% 257 Equity 1,155 1,167-1% 1,198 Total Liabilities and Equity 1,397 1,375 2% 1,455 The Company holds no interest-bearing debt TGS-NOPEC Geophysical Company ASA. All rights reserved. 25

Dividend stable at USD 0.15 per share USD per share 1.6 1.4 1.2 1.0 0.8 0.6 0.4 0.2 0.0 4 NOK 5 NOK Dividend Paid* (2010 ) Dividend Yield (2010 ) 6 NOK 8 NOK 8.5 NOK 8.5 NOK USD 0.15 per Quarter 2010 2011 2012 2013 2014 * Year of Payment *Quarterly Dividends, defined in USD from Historical NOK dividends converted to USD using FX rate on ex-dividend date Yield (on day of announcement) 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% 3.7% 3.6% 4.0% 3.9% 4.9% 5.2% 3.6% 2010 2011 2012 2013 2014 * Year of Payment * Dividend Yield annualized based on the weighted yield at the time of announcement of quarterly dividends Shareholder authorization to distribute quarterly dividend payments from Aim to keep a stable quarterly dividend through the year Actual quarterly dividend level paid will be subject to continuous evaluation of market outlook, cash flow expectations and balance sheet development : USD 0.15 per share dividend paid on 23 February : USD 0.15 per share dividend paid on 1 June : USD 0.15 per share dividend paid on 25 August : USD 0.15 per share dividend to be paid on 18 November (shares will trade ex-dividend on 4 November ) TGS-NOPEC Geophysical Company ASA. All rights reserved. 26