Disclosure of Shareholding

a. Name of Issuer of shares: TGS Nopec
b. Date which holding exceeded threshold:
October 24, 2013
c. Name of Shareholder: Sprucegrove Investment
Management
d. Number of shares the notification
encompasses: 5,270,033 shares (5.15%) based on TGS
shares outstanding of 102,234,524 shares
e. Subsequent Situation Prior to Disclosure:
5,086,954 shares (4.98%) based on TGS shares
outstanding of 102,234,524 shares
f. Percentage of the votes/shares of the company
held in the form of rights to shares: 0
g. The circumstance that triggered disclosure
obligation: Purchase of shares for client accounts
h. Chain of controlled undertakings through
which shares/rights are owned: Shares are held
beneficially in client accounts which are managed by
Sprucegrove Investment Management
i. Notification concerning rights to shares:
Sprucegrove does not hold any rights