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Investor Presentaiton

Debt Maturity Profile ☐ Maintenance capex anticipated to be lower than depreciation post 2013 Benefits of capex programme reflected in growing confidence for future years EBITDA growth ☐ Dividend distribution set at minimum 25% of net income U.S.$ mln Debt Maturity Profile as of June 30, 2014 1,000 965 800 600 527 515 494 500 965 399 400 328 276 494 500 399 500 200 276 199 15 0 2014 2015 2016 2017 2018 2019 2020 ■Bank Loans ■ Bonds Source: TMK Management Accounts, figures based on non-IFRS measures, estimates from TMK management 89% of debt is unsecured Around $1 bn of undrawn committed credit lines facilities 24 TMK

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