Settlement of stock units in cash following change of control

November 17, 2022

(Oslo, 17 November 2022) Following TGS ASA acquiring majority of the Magseis Fairfield ASA shares and corresponding change of control, all outstanding stock units from the Long Term Incentive Program (“LTIP”) have been concluded and settled in cash at a price of NOK 8.08 per share.

PDMR documents for primary insiders pursuant to the Market Abuse Regulation article 19 can be downloaded here.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

For further information, please contact:

Carel Hooijkaas, CEO
Tel: +47 480 49 277
Email: carel.hooijkaas@magseisfairfield.com

Stig Hognestad, CFO
Tel: +47 902 59 040
Email: stig.hognestad@magseisfairfield.com

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Magseis Fairfield is the global leading provider of ocean bottom seismic (OBS) technology and data acquisition projects. The company has a flexible business model with full scale node operations, as well as lease and sale models. The Marine Autonomous Seismic System "MASS" nodes and the range of Z-nodes combined with handling systems and source technology enables market leading deployment speed and highly cost-efficient acquisition of data with exceptional quality.