TGS and PGS today confirmed that the UK Competition and Markets Authority (the "CMA") has completed its review and provided its unconditional clearance of the transaction. 

The clearance from the CMA was the final regulatory approval required. The parties confirm that all conditions for completing the Merger have been satisfied and will work towards completion of the Merger on 1 July 2024 as previously communicated. 

Further information in this respect and key dates for completion of the Merger will be provided in due course.

Kristian Johansen, CEO of TGS, comments: 
"TGS is pleased to note that all conditions for the merger have been fulfilled now that we have received CMA clearance. We look forward to completing the merger on 1 July 2024 and bringing the strength and breadth of our combined service offerings to the market."

Rune Olav Pedersen, President & CEO of PGS, comments: 
"With clearance from the CMA, all merger conditions are satisfied. I believe that the merger will benefit all stakeholders. The combined company will provide a more complete and diversified geophysical offering to customers, more opportunities for employees and value to shareholders". 

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