CGG Converts a Vendor Loan into Shearwater Shares

Paris, France | Dec 30, 2020

On December 29, 2020, CGG SA converted a Vendor Note issued by Shearwater Group on January 8, 2020 with the amount of 49,399,176 US Dollars into shareholding in Shearwater Geoservices Holding AS. Through this transaction, CGG SA subscribed to 1,958,248 Class A shares, corresponding to 3.30% of the total outstanding shares and 3.34% of the shares having voting rights in Shearwater Geoservices Holding AS.