Investor Presentaiton

WELDED TMK Seamless - Core to Profitability SEAMLESS US$ mln QoQ, YoY, 3Q2018 9M2018 9M 2018 gross profit breakdown (unless stated otherwise) % % Sales - Pipes, kt 606 -16% 2,006 1% Other operations Welded 4% Revenue 804 -12% 2,600 9% 15% Gross profit 193 -9% 603 9% Margin, % 24% 23% Avg revenue/tonne (US$) 1,326 4% 1,296 14% Avg gross profit/tonne (US$) 318 7% 301 7% Seamless 87% - Sales Pipes, kt Revenue 318 -11% 981 19% 315 -15% 1,004 30% Gross profit 18 -39% 62 -30% Margin, % 6% 6% Sales of seamless pipe generated 68% of total revenues in 9M 2018 Gross profit from seamless pipe sales represented 87% of 9M 2018 total gross profit Avg revenue/tonne (US$) 989 -5% 1,024 9% Gross profit margin from seamless pipe sales amounted to 23% in 9M 2018 Avg gross profit/tonne (US$) 57 -32% 63 -42% Source: Consolidated IFRS financial statements, TMK data Note: Certain monetary amounts, percentages and other figures included in this presentation are subject to rounding adjustments. Totals therefore do not always add up to exact arithmetic sums. 41

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