TRANSGLOBE ENERGY CORPORATION ANNOUNCES
DIRECTOR/PDMR SHAREHOLDINGS
AIM & TSX: "TGL" & NASDAQ: "TGA"
Calgary, Alberta, May 21, 2021 - TransGlobe Energy Corporation ("TransGlobe" or the "Company") announces that on May 17, 2021, David Cook, Ross Clarkson, Edward LaFehr, Tim Marchant and Steven Sinclair all Directors of the Company received Deferred Share Units ("DSUs") as part of the Company's director compensation program and will count towards their respective shareholding requirements.
| Director | Number of DSUs issued | Price Granted ($Cdn) | Number of DSUs held following the transaction | % of Company's issued share capital held |
| David Cook | 48,649 | $1.85 | 383,685 | DSUs are settled in cash and have no effect on share capital |
| Ross Clarkson | 37,838 | $1.85 | 131,073 | |
| Edward LaFehr | 37,838 | $1.85 | 131,073 | |
| Tim Marchant | 37,838 | $1.85 | 100,167 | |
| Steven Sinclair | 37,838 | $1.85 | 186,432 |
The DSUs were issued in accordance with the Deferred Share Unit Plan of the Company. No shares will be issued upon retirement or vesting of any of the share units as the instruments are settled in cash.
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 | David Cook | Ross Clarkson | Edward LaFehr |
| 2) Reason for the notification a) Position / status | Director | Director | Director |
| 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 | Deferred Share Units | Deferred Share Units | Deferred 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 Deferred Share Units | Grant of Deferred Share Units | Grant of Deferred Share Units |
| d) Price(s) and volume(s) | Price: Cdn $1.85 Volume: 48,649 | Price: Cdn $1.85 Volume: 37,838 | Price: Cdn $1.85 Volume: 37,838 |
| e) Aggregated information: i) Price ii) Volume | Price: $1.85 Cdn per DSU Volume: 48,649 DSUs | Price: $1.85 Cdn per DSU Volume: 37,838 DSUs | Price: $1.85 Cdn per DSU Volume: 37,838 DSUs |
| f) Date of the transaction | May 17, 2021 | May 17, 2021 | May 17, 2021 |
| g) Place of Transaction | Outside a trading venue | Outside a trading venue | Outside a trading venue |
| 1) Details of PDMR a) Name | Tim Marchant | Steven Sinclair |
| 2) Reason for the notification a) Position / status | Director | Director |
| b) Initial notification / amendment | Initial notification | Initial notification |
| 3) Details of the issuer a) Name | TransGlobe Energy Corporation | TransGlobe Energy Corporation |
| b) Legal Entity Identifier | 549300QMNS6BDY8UUB03 | 549300QMNS6BDY8UUB03 |
| 4) Details of transaction a) Description of financial instrument | Deferred Share Units | Deferred Share Units |
| b) Identification code | ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066 | ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066 |
| c) Nature of the transaction | Grant of Deferred Share Units | Grant of Deferred Share Units |
| d) Price(s) and volume(s) | Price: Cdn $1.85 Volume: 37,838 | Price: Cdn $1.85 Volume: 37,838 |
| e) Aggregated information: i) Price ii) Volume | Price: $1.85 Cdn per DSU Volume: 37,838 DSUs | Price: $1.85 Cdn per DSU Volume: 37,838 DSUs |
| f) Date of the transaction | May 17, 2021 | May 17, 2021 |
| g) Place of Transaction | 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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