Investor Presentaiton

1Q 2020 vs. 4Q 2019 Summary Financial Highlights Sales declined QoQ, due to the disposal of the American division following the sale of IPSCO Tubulars Inc. and lower sales at the Russian and European divisions Revenue declined QoQ, due to the disposal of the American division and a weaker performance at the Russian and European divisions 80,000 1,000 800 600 896 400 Thousand tonnes 200 0 4Q2019 -20% QoQ 714 1Q2020 Adjusted EBITDA decreased QoQ, due to a weaker performance at the Russian and European divisions -22% QoQ 16% RUB mln 12,000 10,000 8,000 6,000 11,268 4,000 8,737 18% 16% 15% 12% 2,000 0 4Q2019 9% 6% ៖ ៖ ៖ ៖ 3% 0% EBITDA margin, % 1Q2020 TMK RUB mln 60,000 40,000 69,926 20,000 0 4Q2019 -21% QoQ 55,319 1Q2020 Net profit increased QoQ, mainly due to the gain on disposal of subsidiaries RUB mln 20,000 15,000 10,000 5,000 0 (2,670) -5,000 4Q2019 19,628 Source: TMK data Note: Due to the fact that the Company did not issue the financial statements in Rubles for 9 months of 2019, the financial indicators in Rubles for 4Q 2019 are calculated as the difference between the reporting indicators in Rubles for 12 months of 2019 and reporting indicators in US dollars for 9 months of 2019, which were calculated at corresponding FX rates. 1Q2020 34 TMK

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