Investor Presentaiton

TMK Segmental Quarterly Performance Dynamics Russian division American division Sales volume (ths.tonnes) Adjusted EBITDA(a), US$ mln Adjusted EBITDA margin(a), % 812 760 756 734 740 675 687 European division 128 158 185 199 199 210 190 45 48 42 50 47 53 48 1Q 17 2Q 17 3Q 17 4Q 17 1Q 18 2Q 18 3Q 18 1Q 17 2Q 17 3Q 17 4Q 17 1Q 18 2Q 18 3Q 18 1Q 17 2Q 17 3Q 17 4Q 17 1Q 18 2Q 18 3Q 18 127 132 120 124 107 111 106 1Q 17 2Q 17 3Q 17 4Q 17 1Q 18 2Q 18 3Q 18 42 39 49 45 26 21 16 9 5 6 7 11 10 13 1Q 17 2Q 17 3Q 17 4Q 17 1Q 18 2Q 18 3Q 18 1Q 17 2Q 17 3Q 17 4Q 17 1Q 18 2Q 18 3Q 18 18% 19% 17% 15% 13% 13% 14% 14% 13% 15% 13% 14% 13% 13% 14% 14% 11% 9% 9% 9% 5% 1Q 17 2Q 17 3Q 17 4Q 17 1Q 18 2Q 18 3Q 18 1Q 17 2Q 17 3Q 17 4Q 17 1Q 18 2Q 18 3Q 18 1Q 17 2Q 17 3Q 17 4Q 17 1Q 18 2Q 18 3Q 18 Source: TMK data Note: (a) Adjusted EBITDA represents profit/(loss) for the period excluding finance costs and finance income, income tax (benefit)/expense, depreciation and amortisation, foreign exchange (gain)/loss, impairment/ (reversal of impairment) of non-current assets, movements in allowances and provisions (except for provisions for bonuses), (gain)/loss on disposal of property, plant and equipment, (gain)/loss on changes in fair value of financial instruments, share of (profit)/loss of associates and other non-cash, non-recurring and unusual item 38

View entire presentation