CGG FINANCIAL PRESENTATION MARCH 2021 cgg.com Agenda 01 COMPANY OVERVIEW 02 BUSINESS HIGHLIGHTS 03 FINANCIAL REVIEW 04 CONCLUSION cgg.com 2 SECTION 1: COMPANY OVERVIEW 3 cgg.com 3 CGG: A People, Data and Technology Company Asset Light Company… …With Three Core Businesses (1) GGR Leveraging Exceptional People… Geoscience #1 in technology Breadth and depth of expertise Established market and technology 34% driving innovation and providing leader in subsurface imaging, #1 market share (2) outstanding service geology, geoscience software and services of 41% …Differentiated Data… Multi-Client #1 in technology Maximizing the value of data through One of the industry’s most technically advanced seismic data and geologic and 3D coverage our expertise and technologies 36% studies providers in the world’s key 24% market share (2) prolific hydrocarbon basins …And Remarkable Technology Equipment #1 in technology 30% Leading the industry in advanced Established market and technology imaging and geoscience leader in marine, land, ocean floor #1 market share (2) & digital technologies and downhole seismic equipment and of 46% gauges Sources: Company information, Select Broker research Notes: (1) Pie charts indicate % share of 2020 Segment Revenue (2) CGG market share against competitors for 2020, as per Company estimates 4 Delivered on Promises to the Market Promises to the Market… …CGG Delivered . Cease to operate vessels by Marine partnership with Shearwater closed on Marine 2021 8 January 2020 . Wind down land acquisition Last crew stopped in early February 2020 Land operations . Sell out of Multi-Physics Sale to Xcalibur Group announced in August 2020 Multi-Physics business Seabed . Exit Seabed operations Exit from Seabed data acquisition on 30 December 2019 Streamlined Headcount decreased by 750 employees and cash costs . Reduce costs Organization reduced by $(40)m with respect to 2019 Source: Company information 5 Sector Trends Play to CGG’s Competitive Strengths CGG’s Competitive Position 1 Brent Oil Price Historical Evolution and Forecast ($/bbl) vs. Global Upstream Capex Spend (1) ($bn) 2019 2020 2021 2022 Improved medium term outlook $338bn $243bn $252bn $288bn with consensus forecasts Constructive Medium $69,4/bbl pointing to Brent oil of $57/bbl in 60 Term Oil Price Outlook as 2021 and $58/bbl in 2022 Coronavirus Impact Abates …Supportive of upstream 40 Capex, increasing by c.19% over 2020-22 20 janv-20 déc-20Mar-21 déc-21 déc-22 Historical Broker Consensus (2) Forward Curve Total Upstream Capex Spend 2 Mboed Total Production and Capex of Key NOCs (3) $bn Total production of key NOCs expected 40 to grow c.5% through 2025, with Capex 125 forecast to increase by c.9% 30 100 Long-standing relationships with NOC Upstream 75 NOCs which continue to spend Spending is Expected 20 50 on traditional upstream oil and to Remain Significant gas 10 25 0 0 2020 2025 2030 2035 Production Capex Sources: Company information, Bloomberg, Wood Mackenzie Notes: (1) Annual global spend (forecasts for 2021 and 2022) (2) Bloomberg consensus median as of March 2021 (3) Aggregate production and Capex for Saudi Aramco, ADNOC, 6 Sinopec, ONGC, Petrobras, Pemex and Sonatrach Sector Trends Play to CGG’s Competitive Strengths CGG’s Competitive Position 3 Global Upstream Capex vs. CGG’s Geoscience Revenue Split Industry Capex (1) CGG’s Geoscience Revenue 2017 2020 2017 2020 75% of CGG’s geoscience 11% 9% Increasing Focus on revenue generated from reservoir development and Reservoir Development 25% and Production 35% production phases 89% 91% 65% 75% Development & Production Exploration 4 Global Energy Mix Evolution (%) Leading technology portfolio to 13% 13% 15% 17% gain exposure to increasingly 3% 5% 19% 10% 15% diverse end markets Energy 28% 27% 22% 21% 17% Transition Set to Outpace 12% Ongoing contracts across 23% 23% 24% Traditional E&P Spending 25% 25% Carbon Capture, Utilisation and Sequestration (“CCUS”), 33% 32% 29% 26% 23% Structural Health Monitoring 2015 2020 2025 2030 2035 (“SHM”), geothermal, and digital (2) solutions Oil Natural Gas Coal Renewables Other Sources: Company information, Rystad, BP Statistical Review Notes: (1) Total Capex spend of Majors IOCs, Independent E&Ps, and NOCs globally (2) Biofuels, Nuclear, Hydro, Bioenergy 7 Sector Trends Play to CGG’s Competitive Strengths CGG’s Competitive Position 5 Global Software Spend on Subsurface, Data and Analytics ($bn) (1) Leading geoscience 6% p.a. 5,5 technologies with a suite of 5,2 Increased Focus 4,9 imaging and digital solutions on Digitalisation and 4,6 (including data management 4,2 4,4 4,0 and smart digital solutions), Technology Solutions 3,8 Across Energy Players complemented by top-15 High Performance Computing of 272 PFLOPS 2018 2019 2020 2021 2022 2023 2024 2025 Source: Company information Note: (1) Total market for Oil & Gas software sized at c.$10-$15bn in 2018, with subsurface, data and analytics comprising 25-35% of total spend 8 Sector Leading ESG Credentials OUR CARBON NEUTRALITY STATEMENT KEY ENVIRONMENTAL TARGETS We pledge to be carbon neutral by 2050 GHG 50% reduction by emissions 2020: 2 K tons 2030 By lowering our direct emissions (scope 1 & 2) Scope 1 (1) 100% by 2050 to the lowest practical level and by bridging the gap to zero emission by way of carbon credits, only if they are derived from our own activity With an intermediary milestone in 2030 GHG 50% reduction by emissions 2020: 51 K tons 2030 of a target reduction of 50% of our direct emissions Scope 2 (1) 90% by 2050 OUR ESG RATINGS % Green 50% in 2030 (4) 2020: 30% Energy (2) 90% in 2050 (4) N°1 ESG Energy Services Power Usage 2020: 1.32 Below 1.2 by 2030 Efficiency (3) Notes: (1) K tons CO2 eq (2) Total kwh consumption Scope 1 & 2 (3) 3 main centers (4) Sooner depending on availability and prices 9 SECTION 2: BUSINESS HIGHLIGHTS 10 cgg.com 10 Key Credit Highlights 1 Asset-Light Business, Focused on Differentiated Technologies, with a Strategic Fit with Secular Industry Trends 2 Leading and Resilient Market Position with Strong Cash Flow Generation Through the Cycle 3 Judicious Balance Sheet and Liability Management with Ample Liquidity 4 Business Diversification Aligned with Energy Transition with a Supportive Sector-Leading ESG Strategy 5 Experienced Management Team led by a CEO with a Long Industry Tenure 11 1 CGG Offers Differentiated High Value Additive Service Legacy Technology New Technology Water depth: c.1.5km Reservoir level, c.9-10km Imaging Technology Breakthroughs Drive Business Value Source: Company information 12 1 Geoscience: Proactive Pivot towards Development & Production Majority Exposure to Stable Progressive Shift in Revenue to Resilient Operations Part of Upstream Value Chain 2017 2018 2019 CGG’s Geoscience business Reservoir 7% 6% 6% is increasingly focused on optimisation, 14% 13% 17% the Reservoir Development production 34% & Production segment in and 40% 40% development 11% 10% upstream value chain -focused 12% revenue streams 35% 30% 25% Development & Production Exploration Reservoir Management Services Data Management Other NOCs & IOCs Diversified Customer Base (1) as Key Customers 2018 2019 2020 CGG’s long-standing 3% 3% 3% relationships with all client profiles: NOCs, 25% 29% 34% 28% 39% Independents and IOCs 46% ensure a steady revenue stream 27% 33% 30% Large IOCs Majors NOC Small IOCs Source: Company information Note: (1) Pie charts indicate % share of Segment Revenue by type of customer 13 1 Geoscience: Industry Leading Algorithms and High Performance Computing Technology to Optimize Harnessed by High Performance Computing… … Production & Reservoir Development Exceptional People Shifted strategy to focus on technology Technical staff comprised of 131% 54% 7% Advanced value-add analytics for our clients 70% post graduate degrees and 27% PhDs High Performance Computing up five-fold since 2017 Committed to innovation with c.11% of revenue PFLOPS (1) 255 dedicated to R&D 3% On a par with leading technology companies, with top-15 high performance processing power 15% 166 1,892 11% 237 272 Global Intel Stratix 10 Google Cloud TPU v3 Pod 55% 0.01 PFLOPS 100 PFLOPS Staff 150 15% Apple iPhone 12 CGG Computer Power 0.01 PFLOPS 272 PFLOPS 16 18 2018 2019 2020 Production R&D Nvidia DGX-2 A100 server Fugaku Super Computer (2) Graphics Processing Unit (GPU) Central Processing Unit (CPU) IT Operations 2.5 PFLOPS 537 PFLOPS YoY Growth Country Support Differentiated leading technology with High Performance Computing to match the world’s largest technology companies Sources: Company information, Top500 ranking Notes: (1) Peta Floating-Point Operations Per Second is a measure of computer performance (2) Most powerful non-distributed computer system in the world as per November 2020 14 edition of the Top500 ranking 1 Geoscience: Resilient Revenue from Dedicated Imaging Centers Open Centers (16) Dedicated Centers (7) Technology Leadership Regional Hubs (5) Superior offering to our clients reinforces market leadership and attracts premium pricing Customer satisfaction as demonstrated by Kimberlite surveys confirms CGG’s “best performer” position amongst peers Stavanger x 2 Oslo Dedicated Centers Calgary London Moscow Long-term collaboration with leading industry players, Vienna Pau Paris Beijing providing deep understanding of their businesses Flexible & scalable business model Houston Cairo Muscat Villahermosa Abu Dhabi Mumbai Long term contracts provide visibility over future revenue Kuala Lumpur DPC Profitability through the cycle Singapore Jakarta Resilient Geoscience Production/Head ($k) Rio de Janeiro Perth 252 249 238 2018 2019 2020 Geoscience business provides a stable base of revenue resistant to broader industry volatility Source: Company information 15 1 Multi-Client: Extensive Presence in Mature, Established Regions +70k km2 Alaska 2 N. Sea +34% since 2018 Leading coverage totaling > 1.2 million km of 3D data 348 km2 Asia 277k km2 – By comparison, TGS’ and PGS’ libraries cover c.1.0 million km2 and 29k km 2D c.850k km2 of 3D data respectively +6k km2 Extensive contiguous datasets in Brazil, Gulf of Mexico, UK and +15% since 2018 Norwegian North Sea Caspian GOM Australia U.S.