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Investor Presentaiton

Growing Confidence ☐ ☐ TMK Strong demand in key Russian domestic market driven by upstream capex growth US volumes likely to improve amid signs that prices are stabilising - Coal/Gas switching in power generation - - - Export of LNG starting Economic recovery US manufacturing renaissance as companies "on-shore" investment ■ Clear programme of net debt reduction post capex and M&A expansion ◉ Improved investor access to help improve liquidity ◉ Aspire to best in class Corporate Governance 3

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