Investor Presentaiton

Vertically Integrated Model Ensuring Margin Resilience TMK Deeper integration provides better resilience in margins Production chain Scrap Hot Briquetted Iron (HBI) Scrap Seamless products Own production perimeter 26% 25% 24% 28% 24% 25% 26% 23% Share in 1H 2020 Gross profit 320 303 268 255 242 226 208 206 95% Electric Arc Furnace Billets Pipe making facilities 2014 2015 2016 2017 2018 2019 1Q20 2Q20 - Scrap (FOB Black Sea), average purchase price (US$/t) Gross profit margin of seamless segment, % Welded products 12% 13% 10% 8% 8% 8% 5% 4% Steel coil Coking coal External Steel Making/ Flat Rolling 531 551 347 387 500 460 474 377 Pipe making facilities Steel plate Own production perimeter 2014 2015 2016 2017 2018 2019 1Q20 2Q20 -Hot Rolled Coil (FOB Black Sea), average purchase price (US$/t) Gross profit margin of welded segment, % Source: Metal Expert, Bloomberg Iron ore 1 2 3 4 One of the lowest cost + regions for steel production Vertically integrated seamless pipe production + Longstanding relationship with major scrap, HBI and steel suppliers + Ability to pass costs onto consumers under long-term contracts with a pricing formula = TMK ■ Seamless ■ Welded Share in 1H 2020 Gross profit 4% ■ Welded ■ Seamless Ability to maintain resilient margin irrespective of steel price cycle 7

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