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Investor Presentaiton

WELDED SEAMLESS Seamless Core to Profitability - U.S.$ mln QoQ, YoY, 3Q 2013 9M 2013 (unless stated otherwise) % % Volumes- Pipes, kt 534 -17% 1,805 -4% Net Sales 872 -15% 2,982 -5% Gross Profit 233 -18% 826 -2% Margin, % 27% 28% Avg Net Sales / Tonne (U.S.$) 1,632 +3% 1,652 -1% Avg Gross Profit / Tonne (U.S.$) 437 -1% 457 +2% Volumes- Pipes, kt Net Sales 488 +3% 1,392 +9% 553 -1% 1,674 -1% Gross Profit 42 -31% 161 -41% Margin, % 7% 10% Avg Net Sales / Tonne (U.S.$) 1,135 -4% 1,202 -9% Avg Gross Profit / Tonne (U.S.$) 85 -34% 116 -45% Source: Consolidated IFRS Financial Statements, TMK data NNote: Sales of seamless pipe generated 59% of total Revenue in 3Q 2013 and 61% for 9m 2013. Gross Profit from seamless pipe sales represented 83% of 3Q 2013 total Gross Profit and 82% for 9m 2013 total Gross Profit. Gross Profit Margin from seamless pipes sales amounted to 27% in 3Q 2013 and 28% for 9m 2013. CCertain monetary amountsppercentages and other figures included in this presentation are subject to grounding adjustments. Totals therefore do not always add up to exact arithmetic sums. 38 TMK
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