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Investor Presentaiton

2Q 2014 vs 1Q 2014 Sales by Division and Group of Product Sales by Division Thousand tonnes 8% 840 720 600 480 -3% 787 360 727 240 120 0 -5% 251 242 48 46 Russia America Europe ■1Q2014 ■ 2Q2014 Sales by Group of Product Thousand tonnes -1% 700 600 14% 500 400 640 300 634 200 442 386 100 0 Seamless Welded ■1Q2014 ■ 2Q2014 Source: TMK data 21 TMK Russian division sales increased QoQ mainly due to higher LDP and welded industrial pipe volumes. ■ American division sales fell QoQ due to lower welded OCTG and seamless and welded industrial pipe volumes. European division sales decreased QoQ due to lower seamless industrial pipe.volumes. Seamless pipe sales decreased QoQ as a result of lower seamless industrial pipe sales. Welded pipe sales increased QoQ mostly due to stronger consumption of LDP in Russia. Total OCTG sales rose by 1% QoQ due to higher volumes of seamless OCTG in the Russian division.
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