Established New Energy business early 2021 to diversify PGS product portfolio and build a substantial market presence in the provision of subsurface data for the offshore renewables’ domain or related to the ongoing energy transition

Awarded a multi-year 4D framework agreement by Equinor, evidencing PGS strong position in the 4D market

Completed the first simultaneous node and streamer acquisition contract in the Barents Sea in mid-August. During the survey PGS set several acquisition records

Completed a sale of the assets associated with PGS towed electro magnetic system to Ocean Floor Geophysics (“OFG”)

Entered into a strategic collaboration with Magseis Fairfield to address the growing hybrid towed streamer and Ocean Bottom Node (“OBN”) seismic market

PGS, TGS and CGG launched Versal – a unified seismic data ecosystem giving access to three of the world’s largest MultiClient libraries, via
a single log-in

Signed a milestone MultiClient Data Management as a Service (“DMaaS”) agreement with a major customer

Financial Calendar

Annual General Meeting	April 27, 2022
Q1 2022 Revenue Update	April 11, 2022
Q1 2022 Earnings Release	April 29, 2022
Q2 2022 Revenue Update	July 11, 2022
Q2 2022 Earnings Release	July 21, 2022
Q3 2022 Revenue Update	October 11, 2022
Q3 2022 Earnings Release	October 20, 2022
Q4 2022 Revenue Update	January 10, 2023
Q4 2022 Earnings Release	January 26, 2023

Key Figures

Segment Revenues by Business Activity

Key Financial Figures

In USD million	2021	2020	2019
Profit and loss numbers Segment Reporting
Segment Revenues and Other Income	590	595.9	880.1
Segment EBITDA ex. other charges, net	320.2	397.7	556.1
Segment EBIT ex. impairment and other charges, net	(54.6)	12.2	96.4
Profit and loss numbers As Reported
Revenues and Other Income	703.8	512.0	930.8
EBIT	(66.2)	(188.0)	54.6
Net financial items	(97.6)	(118.4)	(92.2)
Income (loss) before income tax expense	(163.8)	(306.4)	(37.6)
Income tax expense	(15.6)	(15.1)	(34.1)
Net income (loss) to equity holders	(179.4)	(321.5)	(71.7)
Basic earnings per share ($ per share)	(0.45)	(0.85)	(0.21)
Other key numbers As Reported by IFRS
Net cash provided by operating activities	326.6	366.5	474.3
Cash investment in MultiClient library	127.2	222.3	244.8
Capital expenditures (whether paid or not)	33.4	36.1	59.1
Total assets	1792.8	2 093.8	2 301.7
Cash and cash equivalents	170.0	156.7	40.6
Net interest-bearing debt	936.4	937.6	1 007.5
Net interest-bearing debt, including lease liabilities following IFRS 16	1051.3	1 096.2	1 204.6

People and Places

Headquartered in Oslo, Norway, PGS has offices in 14 countries around the world as of year-end 2021 and operates regional centres in London and Houston.