Investor Presentaiton

Group Wide Confidence Based on Solid Industry Fundamentals ■ Complex unconventional drilling in both US and Russia forecast to grow, Russian horizontal drilling forecast to grow by CAGR 14% in 2012-15 Share of Horizontal Drilling is Growing 29% 29% TMK 30% 25% 20% 14% 15% 12% 11% 10% 10% 5% 0% 2009 2010 Source: Citi equity research, TMK data 21% 18% 2011 2012 2013 2Q 2013 1Q 2014 2Q 2014 TMK's premium products sales in the US grew significantly and are now larger than in Russia Thousand tonnes 400 ■Russia US 300 361 285 192 208 145 200 139 100 41 100 169 140 97 108 0 2010 2011 2012 2013 Source: TMK estimates 6

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