TRANSGLOBE ENERGY CORPORATION ANNOUNCES
PDMR SHAREHOLDINGS
AIM & TSX: "TGL" & NASDAQ: "TGA"
Calgary, Alberta, March 24, 2021 - TransGlobe Energy Corporation ("TransGlobe" or the "Company") announces that on March 19, 2021 the Company issued stock options ("Options") to the President and Chief Executive Officer, the Vice President Finance, Chief Financial Officer and Corporate Secretary and the Vice President and Chief Operating Officer (collectively referred to as the "PDMR").
The Company also issued Performance Share Units ("PSUs") on March 19, 2021 to the PDMR in accordance with the Performance Share Unit Plan of the Company. No shares will be issued upon exercise or vesting of any of the share units as the instruments are settled in cash.
| PDMR | Position | Type | Quantity Awarded | Exercise Price/Price of Grant ($Cdn) | Number Held Following Grant |
| Randy Neely | President and Chief Executive Officer | Option | 163,655 | $2.16 | 1,417,939 |
| PSU | 209,115 | $2.16 | 877,992 | ||
| Edward Ok | Vice President Finance, Chief Financial Officer and Corporate Secretary | Option | 81,522 | $2.16 | 504,046 |
| PSU | 104,167 | $2.16 | 446,000 | ||
| Geoffrey Probert | Vice President and Chief Operating Officer | Option | 100,647 | $2.16 | 451,155 |
| PSU | 128,605 | $2.16 | 449,235 |
The notifications set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
| 1) Details of PDMR a. Name | Randy Neely | Edward Ok | Geoffrey Probert |
| 2) Reason for the notification a. Position / status | President and Chief Executive Officer | Vice President Finance, Chief Financial Officer and Corporate Secretary | Vice President and Chief Operating Officer |
| b. Initial notification / amendment | Initial notification | Initial notification | Initial notification |
| 3) Details of the issuer a. Name | TransGlobe Energy Corporation | TransGlobe Energy Corporation | TransGlobe Energy Corporation |
| b. Legal Entity Identifier | 549300QMNS6BDY8UUB03 | 549300QMNS6BDY8UUB03 | 549300QMNS6BDY8UUB03 |
| 4) Details of transaction a. Description of financial instrument | Options | Options | Options |
| b. Identification code | ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066 | ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066 | ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066 |
| c. Nature of the transaction | Grant of Options | Grant of Options | Grant of Options |
| d. Price(s) and volume(s) | Exercise Price: Cdn $2.16 Volume: 163,655 | Exercise Price: Cdn $2.16 Volume: 81,522 | Exercise Price: Cdn $2.16 Volume: 100,647 |
| e. Aggregated information: i. Price ii. Volume | Exercise Price: $2.16 Cdn per Option Volume: 163,655 Options | Exercise Price: $2.16 Cdn per Option Volume: 81,522 Options | Exercise Price: $2.16 Cdn per Option Volume: 100,647 Options |
| f. Date of the transaction | March 19, 2021 | March 19, 2021 | March 19, 2021 |
| g. Place of Transaction | Outside a trading venue | Outside a trading venue | Outside a trading venue |
Notification of a Transaction pursuant to Article 19(3) of Regulation (EU) No. 596/2014
| 1) Details of PDMR a) Name | Randy Neely | Edward Ok | Geoffrey Probert |
| 2) Reason for the notification a) Position / status | President and Chief Executive Officer | Vice President Finance, Chief Financial Officer and Corporate Secretary | Vice President and Chief Operating Officer |
| b) Initial notification / amendment | Initial notification | Initial notification | Initial notification |
| 3) Details of the issuer a) Name | TransGlobe Energy Corporation | TransGlobe Energy Corporation | TransGlobe Energy Corporation |
| b) Legal Entity Identifier | 549300QMNS6BDY8UUB03 | 549300QMNS6BDY8UUB03 | 549300QMNS6BDY8UUB03 |
| 4) Details of transaction a) Description of financial instrument | Performance Share Units | Performance Share Units | Performance Share Units |
| b) Identification code | ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066 | ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066 | ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066 |
| c) Nature of the transaction | Grant of PSUs | Grant of PSUs | Grant of PSUs |
| d) Price(s) and volume(s) | Price: Cdn $2.16 Volume: 209,115 | Price: Cdn $2.16 Volume: 104,167 | Price: Cdn $2.16 Volume: 128,605 |
| e) Aggregated information: i) Price ii) Volume |
Price: $2.16 Cdn per PSU Volume: 209,115 PSUs |
Price: $2.16 Cdn per PSU Volume: 104,167 PSUs |
Price: $2.16 Cdn per PSU Volume: 128,605 PSUs |
| f) Date of the transaction | March 19, 2021 | March 19, 2021 | March 19, 2021 |
| g) Place of Transaction | Outside a trading venue | Outside a trading venue | Outside a trading venue |
About TransGlobe
TransGlobe Energy Corporation is a cashflow focused oil and gas exploration and development company whose current activities are concentrated in the Arab Republic of Egypt and Canada. TransGlobe's common shares trade on the Toronto Stock Exchange and the AIM market of the London Stock Exchange under the symbol TGL and on the NASDAQ Exchange under the symbol TGA.
For further information, please contact:
| TransGlobe Energy Corporation Randy Neely, President and CEO Eddie Ok, CFO | +1 403 264 9888 investor.relations@trans-globe.com http://www.trans-globe.com or via Tailwind Associates or FTI Consulting
|
| Tailwind Associates (Investor Relations) Darren Engels | +1 403 618 8035 darren@tailwindassociates.ca |
| FTI Consulting (Financial PR) Ben Brewerton Genevieve Ryan | +44(0) 20 3727 1000 transglobeenergy@fticonsulting.com |
| Canaccord Genuity (Nomad & Joint-Broker) Henry Fitzgerald-O'Connor James Asensio | +44(0) 20 7523 8000 |
| Shore Capital (Joint Broker) Jerry Keen Toby Gibbs | +44(0) 20 7408 4090 |
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