Group 1 - TGS will present at the Pareto Securities Energy Conference 2025 [1] - CEO Kristian Johansen's presentation is scheduled for today at 15:55 CEST [1] - Additional information can be found on TGS's website or by contacting the VP of IR & Communication [1]

Core Insights - TGS, in collaboration with Viridien, has launched the Megabar Extension Phase I survey in the Barreirinhas Basin offshore Northern Brazil, covering an area of 5,300 sq km [1][2] - The survey aims to enhance geological understanding and support exploration activities in a region with proven petroleum systems and significant discoveries in nearby basins [2][4] Company Overview - TGS is a global leader in energy data and intelligence, providing advanced data and insights to support exploration and production in the energy sector [6] - The company utilizes cutting-edge technology, including proprietary GeoStreamer technology, to acquire high-quality 3D seismic data [3][5] Industry Context - The Barreirinhas Basin is gaining momentum due to recent licensing activities by international oil companies (IOCs) and the success of Brazil's 5 Cycle Permanent Concession Offer [2] - The Megabar Extension survey is positioned to provide early-mover advantages for explorers in this underexplored area, potentially leading to new exploration opportunities [5]

Group 1 - TGS ASA has issued 198,926 new shares due to the vesting of Performance Stock Units (PSUs) and Restricted Stock Units (RSUs) announced on 11 August 2025 [2] - The capital increase has been registered with the Norwegian Register of Business Enterprises, resulting in a new share capital of NOK 49,149,936.50 [2] - The total number of shares outstanding after the capital increase is 196,599,746, with each share having a par value of NOK 0.25 [2]

Core Insights - The significant change in Transportadora de Gas del Sur's (TGS) performance is attributed to rate normalization and an automatic inflation adjustment scheme, which positively impacted transport revenues [1] Group 1: Company Performance - TGS experienced improved earnings due to the implementation of rate normalization and inflation adjustments [1] Group 2: Investment Approach - The investment strategy focuses on value companies with strong long-term potential, indicating a preference for stable and growth-oriented investments [1]

Core Insights - TGS has been awarded a significant streamer contract offshore Indonesia, covering approximately 10,000 square kilometers [1] - The project will primarily focus on acquiring 3D seismic data, with a final phase dedicated to 4D seismic data acquisition for production monitoring [2] - The survey is set to commence in Q4 2025 and will last for an estimated total duration of eight months [2] Company Overview - TGS is a leading provider of energy data and intelligence, offering advanced technology and solutions across the entire energy value chain [4] - The company utilizes proprietary GeoStreamer technology and purpose-built vessels to ensure high-quality data delivery and efficient acquisition [3] - TGS supports exploration and production of energy resources globally, backed by a comprehensive range of products and an extensive energy data library [4]

Core Points - TGS has awarded Performance Share Units (PSUs) and Restricted Share Units (RSUs) to 283 key employees, as approved by shareholders at the Annual General Meeting on 8 May 2025 [1][2] - The maximum number of new shares to be issued under the awarded PSUs and RSUs is 1,900,000 [4] Summary of PSUs - PSUs are granted to executive and senior leadership teams, vesting on 15 August 2028, contingent on continued employment [2] - Upon vesting, PSUs convert to shares based on performance against three metrics: Absolute Total Shareholder Return (TSR), Relative TSR, and HSE and Sustainability goals [2] - The number of shares issued upon vesting can range from 0% to 150% of the PSUs granted, determined by performance over a three-year period [2] Summary of RSUs - RSUs are granted to executives, senior leadership teams, and other key employees, also vesting on 15 August 2028, contingent on continued employment and satisfactory performance ratings [3] - Upon vesting, RSU holders will receive an equivalent number of TGS shares [3] Company Overview - TGS provides advanced data and intelligence to the energy sector, offering a comprehensive range of insights to support exploration and production of energy resources [4]

Revenue Performance - Total revenues for the six-month period ended June 30, 2025, increased by Ps. 4,735 million, or 0.7%, compared to the same period in 2024, primarily driven by the Natural Gas Transportation segment[14]. - Revenues from the Natural Gas Transportation segment reached Ps. 312,439 million in 6M2025, a significant increase of Ps. 113,877 million, or 57.4%, compared to Ps. 198,562 million in 6M2024[19]. - Liquids Production and Commercialization revenues decreased by Ps. 119,520 million, or 33.4%, totaling Ps. 238,415 million in 6M2025, attributed to lower dispatched tons and unfavorable international prices[24]. - Total revenues for 2Q2025 decreased by Ps. 21,650 million, or 5.9%, compared to 2Q2024, with notable declines in Natural Gas transportation and Liquids production segments[37]. - The Midstream business segment reported a revenue increase of Ps. 16,548 million, or 27.7%, driven by greater natural gas transportation services[41]. - Revenues for the three-month period ended June 30, 2025, were 347,614,742 thousand pesos, a decrease of 5.5% compared to 369,264,383 thousand pesos in 2024[59]. - For the six-month period ended June 30, 2025, total revenues reached Ps. 690,208,276, a slight increase from Ps. 685,472,810 in the same period of 2024[113]. Cost and Expenses - The net cost of sales decreased by Ps. 14,273 million, or 4.4%, to Ps. 310,073 million in 6M2025, reflecting lower natural gas processing costs[14]. - Administrative and selling expenses increased by Ps. 2,973 million, or 4.1%, totaling Ps. 75,222 million in 6M2025[14]. - The cost of sales for the six-month period was Ps. 310,072,920, compared to Ps. 324,345,500 in the previous year, showing a reduction of 4.4%[113]. - The company reported a total of ARS 430,096,405 in expenses for the six-month period ended June 30, 2025, compared to ARS 388,242,516 in 2024, reflecting an increase of 10.8%[126]. Profitability - The company’s operating profit decreased by Ps. 62,626 million, or 4.4%, to Ps. 272,487 million in 6M2025[14]. - Gross profit for the six-month period ended June 30, 2025, increased to 380,135,356 thousand pesos, up 5.3% from 361,127,315 thousand pesos in 2024[59]. - Operating profit for the three-month period ended June 30, 2025, was 122,574,640 thousand pesos, down 30.7% from 176,935,140 thousand pesos in 2024[59]. - Total comprehensive income for the six-month period ended June 30, 2025, was Ps. 154,342,721 million, down from Ps. 212,408,043 million in 2024[47]. - Basic and diluted earnings per share for the three-month period ended June 30, 2025, were 53.51 pesos, down 66.4% from 159.07 pesos in 2024[59]. Cash Flow and Liquidity - Cash flows from operating activities increased by Ps. 29,740 million to Ps. 246,970 million in 6M2025, attributed to lower working capital despite higher income tax payments[34]. - Cash flows used in investing activities decreased by Ps. 47,262 million to Ps. (86,240) million in 6M2025, due to reduced payments for the acquisition of property, plant, and equipment[35]. - Cash flows used in financing activities surged to Ps. (203,599) million in 6M2025 from Ps. (27,700) million in 2024, largely due to a dividend payment of Ps. 202,704 million[36]. - The company’s cash and cash equivalents at the end of the period decreased to ARS 16,625,986 in 2025 from ARS 69,184,847 in 2024, a decline of approximately 69.1%[64]. - Liquidity ratio improved to 3.35 in 2025, compared to 2.73 in 2024, indicating stronger short-term financial health[50]. Financial Position - Total assets as of June 30, 2025, were 3,709,942,550 thousand pesos, a decrease from 3,915,963,570 thousand pesos as of December 31, 2024[60]. - Total liabilities as of June 30, 2025, were ARS 132,685,932, compared to ARS 137,382,454 as of December 31, 2024, showing a decrease of 3.4%[120]. - The company’s total current assets as of June 30, 2025, amounted to 875,502,564 thousand pesos, compared to 1,112,539,449 thousand pesos as of December 31, 2024[153]. - The company’s non-current loans were valued at 580,517,342 thousand pesos as of June 30, 2025, reflecting a stable financial position[153]. Market and Investment - The share market value of TGS in Buenos Aires Stock Exchange was ARS 6,260.00 at the end of June 2025, compared to ARS 5,164.75 in June 2024, reflecting a year-over-year increase of 21.2%[51]. - The company aims to optimize the production mix in the Liquids Production and Commercialization Segment to prioritize higher-margin products[54]. - TGS plans to continue developing business opportunities in the Vaca Muerta area to enhance Argentina's energy development[53]. - A five-year investment plan totaling Ps. 279,107,575 was established, subject to control by ENARGAS[162]. Climate Impact and Risk Management - Other operating results, net, recorded a loss of Ps. 32,426 million in 6M2025, compared to a loss of Ps. 3,764 million in 6M2024, primarily due to impairment provisions related to the climatic event[31]. - The total impairment for climate events was recorded at Ps. 7,577,663[136]. - The company has implemented measures to mitigate impacts from financial risks, with no significant changes in risk management policies since the last annual closing[101]. - The natural gas transportation service was gradually restored after a climate event, currently operating at full capacity without significant revenue impact[191]. - Liquids production at the Cerri Complex was completely halted from March 7, 2025, until early May 2025 due to flooding[191]. Taxation - Income tax expense decreased by Ps. 49,643 million, or 39.3%, to Ps. 76,520 million in 6M2025[14]. - The company reported a current income tax charge of (27,785,746) thousand pesos, compared to (79,364,522) thousand pesos in the same period of 2024, indicating a significant reduction[148]. - The total deferred income tax for the six-month period ended June 30, 2025, was (76,520,004) thousand pesos, down from (126,163,015) thousand pesos in 2024[148].

Core Points - TGS ASA has authorized the granting of Performance Stock Units (PSUs) and Restricted Stock Units (RSUs) to key employees as part of the 2022 Long Term Incentive Plan, with the measurement period set from January 1, 2022, to December 31, 2024 [1][2] - The PSUs vested at a final payout of 60.0% based on performance metrics, resulting in 180,810 shares issuable to sixteen holders, while 107,367 shares are issuable to sixty-seven employees for the RSUs [2] - A total of 288,177 shares at par value NOK 0.25 are available for issuance to 83 PSU/RSU holders [2] Company Information - TGS provides advanced data and intelligence to the energy sector, offering a comprehensive range of insights to support exploration and production of energy resources [4] - The company utilizes leading-edge technology and solutions across the entire energy value chain, backed by a global and diverse energy data library [4]

Core Points - TGS has secured a streamer acquisition contract in the East Mediterranean, with operations set to begin in Q3 2025 and lasting approximately 30 days [1][2] Company Overview - TGS is a leading provider of energy data and intelligence, offering advanced data and insights to companies in the energy sector [2] - The company utilizes the Ramform acquisition platform and proprietary GeoStreamer technology to ensure high data quality for clients [2] - TGS provides a comprehensive range of products and advanced data technologies, supported by a global and diverse energy data library, making it a trusted partner in energy resource exploration and production [2]

Financial Data and Key Metrics Changes - The total net income for Q2 2025 was ARS 40.3 billion, a decline from ARS 119.7 billion in the same quarter of 2024, primarily due to a negative variation of ARS 76 billion in financial results [7][8][13] - EBITDA for the natural gas transportation segment decreased to ARS 85.6 billion from ARS 118.2 billion in Q2 2024, reflecting a reduction of ARS 32 billion [9][10] - EBITDA for the liquids business fell over 50% to ARS 25.3 billion compared to ARS 52.6 billion in Q2 2024, largely due to extraordinary expenses from a flood [10][11] Business Line Data and Key Metrics Changes - The natural gas transportation segment's EBITDA decreased by ARS 32 billion, attributed to transitional tariff adjustments and inflation impacts [9][10] - The liquids segment's EBITDA decline was influenced by ARS 16.6 billion in extraordinary expenses from the March flood and a decrease in sales volume from 250,000 metric tons to 211,000 metric tons [10][11] - Midstream and other services saw an increase in EBITDA to ARS 52 billion from ARS 41.5 billion in 2024, driven by higher sales from increased natural gas transportation volumes [12] Market Data and Key Metrics Changes - The average natural gas transportation volume rose from 25 million permits per day in 2024 to 30 million in Q2 2025, while natural gas conditioning volume increased from 16 million to 27 million cubic meters per day [12] - The price of natural gas increased from ARS 2.9 to ARS 3.3 per million ETU, impacting EBITDA negatively [11] Company Strategy and Development Direction - The company is focused on expanding its transportation capacity, with a bid submitted for the Perito Moreno pipeline expansion project, which is expected to be awarded on October 13, 2025 [5][6] - The company has received a 20-year extension of its license, enhancing its operational stability and long-term planning [6] Management's Comments on Operating Environment and Future Outlook - Management noted that the monthly tariff adjustments will help mitigate some inflation impacts, but the overall operating expenses have increased due to the tariff revision process [30] - The company expects to generate ARS 300 million annually from the regulated EBITDA after the tariff process is completed, contingent on inflation rates in Argentina [41] Other Important Information - The company reported a cash position decrease of 33% to ARS 676 billion, with EBITDA generation during Q2 amounting to ARS 163 billion [14] - A dividend payment of ARS 200 billion was approved and paid in June 2025 [7] Q&A Session Summary Question: Confirmation of impairment related to the climate event - Management confirmed an impact of ARS 16.6 billion due to extraordinary expenses from the flood [18] Question: Update on the NCL project timeline - Management is evaluating costs and expects results by September [20] Question: Sustainability of current EBITDA levels - Management indicated that the midstream services segment is expected to continue growing [22] Question: Recovery of profitability in the liquids segment - Full operations resumed on May 7, and management expects improved performance moving forward [24] Question: Increase in general costs - Management explained that the tariff revision process has led to higher operational costs compared to the previous year [26] Question: Status of insurance claims related to the flood - Insurance assessments are ongoing, with expectations for compensation numbers in two to four months [28] Question: Outlook for the regulated transportation segment - Management stated that future revenues will depend on the level of monthly adjustments based on inflation and wholesale price indices [30] Question: Perito Moreno pipeline tender status - Management confirmed they are the only bidder and expect the contract to be awarded on October 13 [32] Question: Financial investment decision timing - Discussions with gas producers are ongoing, with potential project advancement expected by the end of the year [33] Question: Total cost of maintenance due to the flood - Estimated total costs are around ARS 40 million for all expenses and asset impairments [34] Question: Amount received for ship or pay contract compensation - Management confirmed an amount of ARS 7 million received [35] Question: Deterioration of account receivable for the regulated transportation segment - The issue was attributed to a specific marketer, with 50% of the bad debt recovered [37] Question: CapEx for the Perito Moreno pipeline expansion - Management indicated a CapEx of around ARS 500 million for the project [38] Question: Financing for the GPM pipeline project - Management expects to finance imports of around ARS 70 million and use internal cash for the project [42]