Investor Presentaiton

Strategy for Future Growth Leverage our new capacity to sell more high margin seamless pipes into our existing markets Improve our product mix through our technology advancements which will feed through from early 2014 TMK Improve the financial performance by focusing on profitable work rather than just low margin high volume pipe. Capex investment in enhancing facilities mainly completed with free cash flow reducing debt Continue to develop and sell more premium products for challenging, harsh environments such as the Arctic and Caspian sea. Expand our Oil Field Services to a more "one-stop shop" approach to greater fulfil customers' needs 31

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