Investor Presentaiton

TMK RUB mln 1H 2020 vs. 1H 2019 Summary Financial Highlights Sales declined YoY, due to the disposal of the American division and lower sales at the Russian and European divisions Thousand tonnes -30% YoY 2,500 2,000 1,500 1,000 2,009 1,404 500 0 1H2019 1H2020 Revenue declined YoY, due to the disposal of the American division and a weaker performance at the Russian and European divisions RUB mln -33% YoY 200,000 150,000 100,000 167,370 50,000 111,990 Adjusted EBITDA decreased YoY, mainly due to the disposal of the American division and lower EBITDA at the Russian and European divisions Net profit increased YoY, mainly due to the gain on disposal of subsidiaries recorded in 1H 2020 -28% YoY 30,000 25,000 15% 18% 14% 15% 20,000 12% 15,000 9% 24,012 10,000 6% 17,186 5,000 3% 0 0% 1H2019 1H2020 Source: 1H 2019 TMK data including IPSCO results EBITDA margin, % RUB mln 1H2019 3.0x YoY 1H2020 25,000 20,000 15,000 10,000 20 228 5,000 6,676 0 1H2019 1H2020 35 TMK

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