Investor Presentaiton

Increasing Complexity of Wells Fuelling Demand for Premium Pipes Footage Drilled per Well TMK The "Octopus" Structure 1 pad, 50 wells - a whole lot of pipe 14,000 ■ Oil 11,949 12,000 11,354 ■Gas CRO CD2 Average Footage per Well 10,563 10,000 9,536 8,652 8,117 8,252 7,769 8,000 7,195 7,081 6,204 6,000 5,577 4,000 2,000 0 2009 2010 2011 2012 2013 YTD 2014 Taken from Brian Hicks article "The Strangest Looking Octopus You'll ever see" December 13th 2012 Energy and Capital As average length of both oil and gas wells continues grow, so does demand for higher steel- grades, heavier OCTG pipes and premium connections Some oil producers have started switching from semi-premium to full-premium connections 15

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