Investor Presentaiton

WELDED SEAMLESS Seamless Core to Profitability - U.S.$ mln QoQ, YoY, 1Q 2013 (unless stated otherwise) % % Volumes- Pipes, kt 627 +1% +3% Net Sales 1,084 +9% +2% Gross Profit 306 +24% no change Margin, % 28% Avg Net Sales / Tonne (U.S.$) 1,730 +7% -1% Avg Gross Profit / Tonne (U.S.$) 489 +23% -3% Volumes- Pipes, kt 433 -6% +9% Net Sales 563 -1% +7% Gross Profit 59 -18% -37% Margin, % 10% Avg Net Sales / Tonne (U.S.$) 1,301 +6% -2% Avg Gross Profit / Tonne (U.S.$) 136 -12% -43% Source: Consolidated IFRS Financial Statements, TMK data NNote: Sales of seamless pipe generated 63% of total Revenue in 1Q 2013 compared to 61% in 4Q 2012 and 64% in 1Q 2012. Gross Profit from seamless pipe sales represented 83% of 1Q 2013 total Gross Profit compared to 74% in 4Q 2012 and 75% for 1Q 2012. ■ 28% Gross Profit Margin from seamless pipes sales in 1Q 2013 compared to 25% in 4Q 2012 and 29% in 1Q 2012. Even with almost flat QoQ volumes in seamless pipe it continues to be core of the Company's profitability. CCertain monetary amounts percentages and other figures included in this press release are subject to rounding adjustments. Totals therefore do not always add up to exact arithmetic sums. 28 TMK

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