PROPRIETARY & CONFIDENTIAL

Investor Presentation

1H 2010 Results

TMK

No representation or warranty (express or implied) is made as to, and no reliance should be placed on, the fairness, accuracy orcompleteness of the information contained herein and, accordingly, none of the Company, or any of its shareholders or subsidiaries or any of such person's officers or employees accepts any liability whatsoever arising directly or indirectly from the use of this presentation.

This presentation contains certain forward-looking statements that involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. OAO TMK does not undertake any responsibility to update these forward-looking statements, whether as a result of new information, future events or otherwise.

This presentation contains statistics and other data on OAO TMK’s industry, including market share information, that have been derived from both third party sources and from internal sources. Market statistics and industry data are subject to uncertainty and are not necessarily reflective of market conditions. Market statistics and industry data that are derived from third party sources have not been independently verified by OAO TMK. Market statistics and industry data that have been derived in whole or in part from internal sources have not been verified by third party sources and OAO TMK cannot guarantee that a third party would obtain or generate the same results.

Disclaimer

1

Presentation Outline

Company Overview 3

• Investment Highlights

• Products and Services

• Operations

• Global Leader in Cost Efficiency

Industry Dynamics 10

1H 2010 Financial Review 18

Appendix 29

• Strategic Focus

• TMK Service Divisions

• OTCQX ADRs

• IR Contacts

2

PROPRIETARY & CONFIDENTIAL

Company Overview

Investment Highlights

Leading producer of value-added steel pipes for the oil & gas industry13% global seamless OCTG(1), 60% Russian seamless OCTG and 17% of the U.S. OCTG market

Global market leader

Growth potentialand deleveraging

Vertically integratedlow cost producer

Strategic supplier tothe oil & gas sector

Favourableindustry dynamics

Strong steel pipe industry fundamentals driven by robust demand for oil & gasConsolidated industry with significant barriers to entryDemand for seamless OCTG expected to experience significant growth

More than 70% of 1H 2010 shipments went to the oil & gas sectorStrategic partnerships with oil & gas majors

Structural cost advantages over major international competitorsFully vertically integrated seamless pipe production (upstream and downstream

operations)

Strategic Investment Programme (2004-14) aimed at 48% capacity increaseAbility to efficiently integrate acquired businesses and realise synergiesCommitment to maintain and improve credit ratings

Revenue, US$ mln

EBITDA, US$ mlnKey performance figures

3,402

2006 2007 2008 2009

5,6904,179 3,461

787 908 1,047 328

Notes: (1) OCTG - Oil Country Tubular Goods 4

1H 2010

2,566

415

Global Market Leader

Seamless

OCTG

Line Pipe

Industrial

Welded

OCTG

Line Pipe

Large-Diameter

Industrial

Premium Connections

Threading

Threaded pipes for the oil and gas industry including drill pipe, casing and tubing.

Line pipe is used for the short-distance transportation of crude oil, oil products and natural gas.

These pipes are used in the automotive, machine building, and power generation sectors.

Threaded pipes for the oil and gas industry including drill pipe, casing and tubing.

Line pipe is used for the short-distance transportation of crude oil, oil products and natural gas.

Large-diameter pipe is used in the construction of trunk pipeline systems for the long distance transportation of natural gas, crude oil and petroleum products.

These pipes are used in a wide array of applications and industries, including utilities and agriculture.

Premium connections are gas tight, proprietary value-added products used to connect OCTG pipes and are used in sour, deep well, low temperature, and high-pressure applications.

5

TMK Shipments by Industry (2009)

Oil & Gas 70%

Other 9%

Constructionand Public

Utilities

16%

Machine Building 5%

TMK Production Breakdown (1H’10)TMK Shipments by Product Segment (1H’10)

OCTG 29%

Line Pipe 14%

Industrial 14%

LD Welded15%

WeldedLine Pipe

6%

WeldedOCTG10%

Industrial Welded 12%

Production & Services

Marketing subsidiaries &representative offices

Seversky

VolzhskyTagmet

Cologne

Astana

Dubai

Ashgabat

Kaztrubprom

Moscow RosNITI

Sinarsky

Artrom

Resita

Beijing

Singapore

Houston

ChicagoLecco

ZurichCamanche

BakuAmbridge

Baytown

BlythevilleOdessa

Wilder

GenevaKoppel

Catoosa

R&D

Brookfield

Cape Town

Global Operational and Sales Footprint

Capacity (tonnes) North America

Europe Russia and CIS

Steelmaking 450,000 450,000 2,450,000

Seamless pipes 300,000 350,000 2,720,000Welded pipes 1,000,000 2,100,000

Heat Treat 360,000 1,500,000Threading 960,000 1,400,000

Calgary

Source: TMK accounts6

Russia - CIS - Europe Production

Product Capacity (tonnes)Seamless OCTG 430,000 S. Line pipe & Industrial 350,000 Heat Treating 385,000 Welded Industrial 500,000 Steelmaking 600,000

Steel

Welded

Seamless

Finishing

Tagmet

Sinarsky

Product Capacity (tonnes)Seamless OCTG 60,000

Seversky

Large-diameter

Product Capacity (tonnes)Seamless OCTG 270,000 S. Line & Industrial 430,000 Heat Treating 640,000 Large-diameter 1,100,000 Steelmaking 900,000

Volzhsky

TMK Kaztrubprom

TMK Resita

TMK Artrom

Product Capacity (tonnes) S. Line & Industrial 350,000

Product Capacity (tonnes) Steelmaking 450,000

Moscow

Product Capacity (tonnes)Seamless OCTG 378,000 S. Line & Industrial 222,000 Heat Treating 300,000

Source: TMK accounts

Product Capacity (tonnes)Seamless OCTG 220,000 S. Line & Industrial 120,000 ERW OCTG 100,000 Heat Treating 175,000 Welded Industrial 400,000 Steelmaking 950,000

Number one player across all key segments

7

TMK IPSCO - US Market Penetration

Product Capacity (tons) Heat Treating 96,000 Threading 130,000

Product Capacity (tons) ERW HSS 150,000

Baytown, TX

Ambridge, PA

Wilder, KYHouston, TX

Koppel, PA

Geneva, NE

Tulsa, OK

Blytheville, AR

Odessa, TX

Camanche, IAProduct Capacity (tons) ERW OCTG line pipe, standard pipe

250,000

Threading 280,000

Product Capacity (tons) ERW OCTG, line pipe, standard pipe

225,000

Heat Treating 100,000 Threading 176,000

Product Capacity (tons) ULTRA™ Premium connections

120,000

Product Capacity (tons)Heat Treating 110,000 Threading 100,000

Product Capacity (tons)Heat Treating 80,000 Billets 480,000

Product Capacity (tons)ERW OCTG, standard pipe

480,000

Marcellus

Haynesville

Barnett

Major Shale Plays

Steel

Welded

Seamless

Finishing

Fayetteville

Source: TMK accounts, Energy Information Administration

Product Capacity (tons) Seamless OCTG line pipe, standard pipe

326,000

Heat Treating 80,000

Barnett-Woodford

New Albany

Antrim

Eagle Ford

Woodford

Gammon

Hilliard-Baxter-Mancos

Product Capacity (tons)ULTRA™ Premium connections

100,000

Brookfield, OH

Product Capacity (tons) ULTRA™ Premium connections

120,000

Strategic positioning in the world’s largest OCTG market

8

Global Leader in Cost Efficiency

9931,2741,320

2,003

Vallourec Tenaris US SteelTubular

TMK

Source: TMK data (1H’10 - 2009 estimates)* Cash cost per tonne is calculated as (cost of sales minus depreciation) divided by sales volumes. US Steel Tubular segment is represented by costs per ton.

Russia is one of the lowest cost regions for steel products manufacturing

1H’10 Cash Cost per tonne (US$) *

Gas price, US$/’000 m3

88 in Russia400 in Europe

Low gas prices

Labor cost, US$/’month

768 TMK750 Russia4,200 U.S.

5,900 Germany

Favorable unit labor cost

Scrap purchase price, US$/’tonne

350 TMK410 Shredded FOB Rotterdam

545 DRI

Low raw materials costs

Electricity prices, US$/MWh

80 Russia 100 China

90 U.S.

100 Germany

Low regulated energy prices

9

Industry Dynamics

Segmenting the Global Pipe Market

TMK Shipments by Industry (2009)

Source: Company data and estimates, industry sources, WSA, World steel in figures

World Tube Market Segmentation (2009)

Seamless

World Steel Industry Market Concentration (2009) World Seamless OCTG Market Concentration (2009)

POSCO 2.5%

Others 82.5%

ArcelorMittal 6%

Baosteel 3.2%Hebei Iron & Steel 3.3%

Wuhan Iron & Steel 2.5%

HighlyConsolidated Pipe Industry

Others 24%

TMK (13%)

OCTG 7%

Line Pipe 3%

Industrial 18%

LD Welded17%

WeldedLine Pipe

4%

WeldedOCTG

2%

Industrial Welded 49%

TMK is a niche player in high

margin segments

Oil & Gas 70%

Other 9%

Constructionand Public

Utilities

16%

Machine Building 5%

Top 6 76%

Consolidated industry with significant barriers to entry

11

12

020406080

100120140160180200

Rus

sia

Eas

tern

Eur

ope

and

CIS

Asia

Pac

ific

Wes

tern

Hem

isph

ere

(exc

l. U

S)

Wes

tern

Eur

ope

OPE

C

Mid

dle

East

Oil Production and Capex Needs in Russia

Source: UBS Investment ResearchNote: incl. Rosneft, Lukoil, TNK-BP, Surgutneftegas, Gazprom Neft and Tatneft

Oil production and upstream capital expenditure

Deteriorating oil production conditions at mature fields, particularly in the Urals and Western Siberia, require substantial capex spending by oil majors to maintain existing production levels

Source: Brokers’ notes

Average well flow rates in different oil producing regions

(mmbbl/d) (bpd)(US$bn)1,804

487

831

75 83 9183

0

2

4

6

8

10

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

E

2011

E

0

5

10

15

20

25

30

35

40

Russian oil productionUpstream capex by 6 Russian oil majors

The average productivity of Russian wells remains below most other major oil regions in the world

13

Russian Oil and Gas Developments & Demand Drivers

Source: TMK estimates, UBS, Metalli Evrazii, Gazprom

Oil Pipelines (Ktonnes 2009-2015)

Gas Pipelines (Ktonnes 2009-2015)

Mature Regions

Underdeveloped Regions

The increasing complexity of oil and gas production in Russia isexpected to increase demand for higher value-added products

Large-diameter pipe demand to remain robust as regions of production move further away from consumption centres

BTS-2(300 Kt)

Source: VTB Capital

05001000150020002500

05

101520

Months of Supply US Rig Count

14Source: TMK & industry estimates, Baker Hughes

(months) (active rigs)

U.S. Drilling – OCTG on the Rebound

Demand for OCTG returned with drilling activity, lifted by attractive oil prices and advancements in drilling technology.

(active rigs)(active rigs)

Gas – OilSplit

85/15 to 60/40

Directional - 13%Horizontal - 55%

Vertical - 32%

15

Advancements in horizontal drilling and stimulation processes have changed the US natural gas landscape, making shale gas plays an integral part of the US energy scene.

US Natural Gas & Shales

Natural gas represents circa 22% of US energy supply

Estimated US gas reserves have gone from 30 to 100 years’of supply

Nat gas contributed $385bn to the US economy in 2008 vs. $79.9bn from the coal industry; much cleaner source of energy

Tapping shale deposits could more than quadruple the world’s known gas reserves

Source: Screenshots taken from American Petroleum Institute shale gas animationhttp://www.api.org/policy/exploration/hydraulicfracturing/hydraulicfracturing.cfm

Shale Gas Plays

Reshaping the US energy scene

TMK IPSCO & Shale

TMK IPSCO product mix <5½inch seamless grades

Shale activity currently accounting for approx. 70% of TMK IPSCO business

Additional 100Kt of ULTRA™threading capacity online in 2Q’10; total 300Kt

ULTRA™ 2006 market share <5% has grown to 28% US/Canada

16

Natural Gas in Storage

Natural gas in storage remains above the 5-year average even as consumption by the power sector increases. Abnormally warm weather and a pick-up in industrial demand resulted in net drawdown for August.

Note: The shaded area indicates the range between the historical minimum and maximum values for the weekly series from 2005 through 2009. Source: Form EIA-912, "Weekly Underground Natural Gas Storage Report." The dashed vertical lines indicate current and year-ago weekly periods.

Source: Energy Information Administration, Office of Oil and Gas, Form EIA-912 -Week ending August 27, 2010.

5-year historical range

Gas in Storage

17

1927

1637

$1 000

$1 200

$1 400

$1 600

$1 800

$2 000

$2 200

$2 400

$2 600

$2 800

Jan-

09

Feb-

09

Mar

-09

Apr

-09

May

-09

Jun-

09

Jul-0

9

Aug

-09

Sep

-09

Oct

-09

Nov

-09

Dec

-09

Jan-

10

Feb-

10

Mar

-10

Apr

-10

May

-10

Jun-

10

Jul-1

0

SeamlessERW

US OCTG Pricing Trends

Source: Pipe Logix, Spears & Associates, Inc.

Seamless and ERW OCTG Spot Prices (Average of all items)

1H 2010 Financial Review

19

Q2 2010 Q1 2010 Change, % 1H 2010 1H 2009 Change, %

Seamless Pipes 521 537 -3.0% 1,058 765 +38.3%

OCTG 270 277 -2.5% 547 450 +21.6% Line Pipe 107 146 -26.7% 253 187 +35.3% Industrial Pipe 144 114 +26.3% 258 151 +70.9%

Welded Pipes 410 396 +3.5% 806 438 +84.0%

OCTG 95 86 +10.5% 181 47 +285.1%Line Pipe 65 52 +25.0% 117 90 +30.0%Large Diameter 132 149 -11.4% 281 88 +219.3%Industrial Welded 117 109 +7.3% 226 211 +7.1%

Total Pipes 931 933 -0.2% 1,864 1,203 +54.9%

(Thousands of tonnes)

2010 Production Volumes

20

1H 2010 2H 2009 Change, % 1H 2009 Change, %

Seamless Pipes 1,075 888 +21.1% 760 +41.4%

OCTG 565 447 +26.4% 447 +26.4%Line Pipe 263 188 +39.9% 130 +102.3%Industrial Pipe 248 253 -2,0% 183 +35.5%

Welded Pipes 811 685 +18.4% 436 +86.0%

OCTG 181 96 +88.5% 47 +285.1%Line Pipe 121 96 +26.0% 88 +37.5%Large Diameter 283 225 +25.8% 86 +229.1%Industrial Welded 226 269 -16.0% 214 +5.6%

Total Pipes 1,886 1,573 +19.9% 1,196 +57.7%

(Thousands of tonnes)

1H 2010 Sales Volumes

21

Source: Consolidated IFRS FS of the Company presented in US dollars (1) IFRS FS figures were rounded for the presentation’s purposes. Minor differences with FS may arise due to rounding(2) EBITDA is calculated as profit before tax plus finance costs minus finance income plus depreciation and amortization adjusted for non-operating and non-recurrent items(3) Sales include other operations (4) Cash Cost per Tonne is calculated as Cost of Sales less Depreciation divided by Sales volumes

+80.3%220122272Average Adjusted EBITDA/Tonne (US$)

1H 2008 1H 2009 1H 2010 1H 2010/1H 2009

Sales Volumes – Pipes, K Tonnes 1,502 1,196 1,886 +57.7%

Net Sales, US$ mln 2,368 1,479 2,566 +73.6%

Gross Profit, US$ mln 618 224 586 +161.7%

Gross Margin (%) 26% 15% 23%

Adjusted EBITDA, US$ mln(2) 408 146 415 +184.5%

Adjusted EBITDA Margin (%) 17% 10% 16%

Net Income (Loss), US$ mln 158 (204) 67 n/a

Net Margin (%) 7% neg. 3%

Shareholders’ Equity, US$ mln 2,312 1,597 1,530 -4.2%

Average Net Sales/Tonne (US$) (3) 1,577 1,236 1,361 +10.1%

Average Gross Profit/Tonne (US$) 411 187 311 +66.3%

Cash Cost per Tonne (US$) (4) 1,108 968 993 +2.6%

(US$ mln) (1)

Key Consolidated Financial Highlights

22

Russia Americas Europe

1H 2010 1H 2009 Change, % 1H 2010 1H 2009 Change, % 1H 2010 1H 2009 Change, %

Volumes – Pipes, kt 1,385 1,008 +37.5% 412 133 +210.2% 89 55 +59.7%

Net Sales 1,830 1,111 +64.8% 620 287 +116.5% 116 81 +43.2%

Gross Profit (Loss)Margin (%)

42423.2%

21819.6%

+94.5% 13722.1%

(13)neg

n/a 2521.9%

1923.5%

+31.6%

Adjusted EBITDAMargin (%)

28515.6%

11510.4%

+147.8% 12219.7%

238.0%

+421.6% 86.7%

89.9%

0.0%

Average Net Sales / Tonne (US$) 1,321 1,102 +19,9% 1,505 2,158 -30,3% 1,303 1,473 -11,5%

Average Gross Profit / Tonne (US$) 306 216 +41,7% 333 neg n/a 281 345 -18,6%

Average Adjusted EBITDA / Tonne (US$) 206 114 +80,7% 296 173 +71,1% 90 145 -37,9%

(US$ mln.)

Source: Consolidated IFRS Financial Statements

Key Financial Highlights by Segments

23

Accounts Payable (days)Accounts Payable (days)Accounts Receivable (days)Accounts Receivable (days)

Inventories (days)Inventories (days) Cash Conversion Cycle (days)Cash Conversion Cycle (days)

Source: Audited Consolidated IFRS Financial Statements

Working Capital Position

42

71

48

0

10

20

30

40

50

60

70

80

90

100

2008 2009 1H 2010 (LTM)

84

132

102

0

15

30

45

60

75

90

105

120

135

150

2008 2009 1H 2010 (LTM)

35

66

44

0

10

20

30

40

50

60

70

80

90

100

2008 2009 1H 2010 (LTM)

90

119

90

50

60

70

80

90

100

110

120

130

140

150

2008 2009 1H 2010 (LTM)

24Source: Management Data, Russian and export prices are taken as reference, excludes TMK IPSCO

Revenue per Tonne Dynamics, %

Average Revenue per Tonne (Russian mills)

70

80

90

100

110

120

130

140

150

160

170

4Q'07 1Q'08 2Q'08 3Q'08 4Q'08 1Q'09 2Q'09 3Q'09 4Q'09 1Q'10 2Q'10

Seam less OCTG Seam less Line Pipes Seam less Industrial

Welded Indus trial Welded Oil&Gas Pipe Welded Large Diam eter

25Source: Management Data

TMK Average Raw Material Prices in Russia

26

Key refinancing activities

• January ‘09 - Gazprombank USD 1,107.5 mln from to refinance liabilities related to the acquisition of IPSCO (2.5 to 5 years in August)

• March ‘09 - VTB USD 90.2 mln to redeem Russian bonds.

• June ‘09 - September. Several 7 year loan agreements with Sberbank for an aggregate amount of RUB 5.7 billion.

• August ‘09 - buy back of 4,133 of 6,000 notes of the 2011 Eurobonds (VTB USD 450 mln).

• September ‘09 - TMK fully redeemed the 2009 USD 300 mln Eurobonds through a one year loan provided by VTB (1 to 5 years following VTB capital increase)

•February ‘10 - VTB USD 450 mln maturity prolongation to 3 years with further option of up to 5 years

• February ‘10- USD 412 mln convertible bonds placement with 5.25% coupon. USD 23.075 per GDR conversion price

•February ‘10- repayment of VTB USD 300 mlnfacility

Debt Maturity Profile

(US$ mln)

Debt maturity profile as of August 31, 2010

Source: Company data (as at 31 August 2010)

EUR6.9%

USD60.6%

RUB32.5%

Secured Floating

3.0%

Secured Fixed67.0%

Unsecured Floating0.3%

Unsecured Fixed29.7%

51

140

1,003

487

1,303

1337

118

122350

64

30

382

70

933

43

445

413

28

862

27

TMK Cash Flow

Source: Consolidated IFRS FS of the Company presented in mln of US dollars (1) IFRS FS figures were rounded for the presentation’s purposes. Minor differences with FS may arise due to rounding

1H 2008 1H 2009 1H 2010

Profit (loss) before income tax 240 (266) 102

Adjustments for:

Depreciation and amortisation 91 151 150

Net interest expense 79 180 191

Others 7 81 (28)

Working capital changes 48 182 (227)

Cash generated from operations 464 328 187

Income taxes paid/ reimbursed (61) (42) 10

Net cash from operating activities 403 286 197

Capex (456) (164) (165)

Acquisitions (1,296) (508) -

Others (2) 3 3

Net cash used in investing activities (1,754) (668) (162)

Net change in borrowings 1551 531 (8)

Others (225) (206) (183)

Net cash used in financing activities 1,325 324 (191)

Net foreign exchange difference 19 1 (3)

Cash and cash equivalents at YE 83 86 85

(US$ mln) (1)

28

TMK Balance Sheet

Source: Consolidated IFRS FS of the Company presented in mln US dollars (1) IFRS FS figures were rounded for the presentation’s purposes. Minor differences with FS may arise due to rounding

31/12/08 31/12/09 30/06/10AssetsCash and bank deposits 143 244 85Short-term investments 4 4 4Accounts receivable 757 580 656Inventories 1,176 926 1,003Prepayments 213 222 156

Total current assets 2,294 1,977 1,903

Total non-current assets 4,774 4,704 4,530

Total assets 7,068 6,681 6,432

Liabilities and equityAccounts payable 808 921 774

Accrued liabilities 156 145 126

Put/Call option liability 510 - -

Short-term debt 2,216 1,537 829Dividends - - -Other liabilities 51 18 27Total current liabilities 3,740 2,622 1,756

Long-term debt 994 2,214 2,815Deferred tax liability 371 272 270Other liabilities 52 54 61Total non-current liabilities 1,417 2,540 3,147

Equity 1,910 1,519 1,530Including minority interest 97 76 71

Total liabilities and equity 7,068 6,681 6,432

Net Debt 3,063 3,504 3,555

(US$ mln) (1)

- Strategy- TMK Service Divisions

Appendix

Strategy

31

Tube Rounds/Tube Billets

Upstream

Industrial Seamless

LargeDiameter

IndustrialWelded

Line Pipe

OCTG

Midstream

Downstream

Raw Materials / Scrap Coil & Plate

Oilfield Services

PremiumThreading

Russia, USA, CIS and Global Markets

Modernise and expand in-house steelmaking capacityStrategic alliance with a heavy plates manufacturerAcquire scrap collecting and processing assets

Strategy Focused on Profitable Growth

WeldedOCTG

Modernise, upgrade and expand pipe production capacity in OCTG, line pipe and industrialseamless segmentsInstall production capacities for longitudinal large diameter pipesExplore M&A opportunities to further consolidate market position

Develop and certify TMK and ULTRA™ premium connectionsAcquisitions completed to move to oil and gas servicesNegotiations to acquire companies with inventory management and repair and maintenance services expertiseJV / acquire established international companies or divisions with premium connections and / or oil services expertise

GrowProtectDevelopAlliance

32

Growth and Added Value Production

Seamless

Threading

Heat Treating

2,040k tonnes

790k tonnes

730k tonnes

2005

2,920k tonnes

2,030k tonnes

1,375k tonnes

08/05, %

43%

257%

88%

PremiumConnections

2,350k tonnes

290k tonnes n/a

Longitudinal large diameter

Steelmaking

2008 Target/08, %Targetcapacity *

n/a

43%

650k tonnes

3,350k tonnes

-

-

26%

13%

37%

14%

n/a

10%

3,670k tonnes

2,300k tonnes

1,880k tonnes

330k tonnes

650k tonnes

3,700k tonnes

* : TMK estimates

TMK Service Divisions

34

TMK Premium Service & Connections

High performance products and services for the oil and gas industry

TMK Premium Service offers a range of patented connections developed by TMK R&D specialists and designed for onshore and offshore exploration, appraisal, and production drilling in challenging environments. TMK and ULTRA™ premium connections are used in sour, deep well, low temperature, and high-pressure applications

ТМК GF

ТМК FМТTMK ULTRA ™ Connections

ULTRA-FJ™ flush joint premium connection

ULTRA-SF™ semi flush joint premium connection

ULTRA-FX™ upset tubing premium connection

Premium Licensing• Wesco Abu Dhabi – TMK FMT & TMK PF threading

and repair services

• Beijing Huayou Xingye Materials Co (BHXM) – TMK FMC threading and repair

ТМК TDS

35

TMK’s ADR shares trade on the OTCQX under the following information:

• Symbol TMKXY• CUSIP 87260R300• Ratio 1 ADR : 4 ORDs• Country Russian Federation• Effective Date October 2, 2009• Underlying SEDOL B15DX01• Underlying ISIN RU000A0B6NK6• DR ISIN US87260R3003• Depositary BNY Mellon

For more information, please contact BNY Mellon’s DR marketing desks:

BNYM-Buy-Side, Tanya Amaya, tanya.amaya@bnymellon.com

ADR Benefits to U.S. Investors:ADRs give access to cross-border market liquidityADRs are cost-effectiveADRs are convenient to own:

Quoted in U.S. dollars Dividends paid in U.S. dollarsSeamless Tax reclamation process

LondonBNYM – Sell-Side, Mark Lewis, mark.lewis@bnymellon.comNew YorkBNYM-Sell-Side, Michael Ludwig, michael.ludwig@bnymellon.com,

Issuance of ADRs

Cancellation of ADRs

BrokerBNYM DR

Division’s localcustodian

BNYM DRDivision DTC

Broker's DTCaccount

- credit of DRs- debit of fee

BNYM DRDivision’s DTC

account- debit of DRs- credit of fee

- local shares- DR del instr

- SWIFT confirm- DR del instr

DVP versusissue fee

Instructions to receive the DRs

BrokerBNYM DRDivision’s

DTC accountDTC

Broker’s DTCaccount

- debit of DRs- debit of fee

BNYM DRDivision’s DTC

account- credit of DRs- credit of fee

BNYM DRDivision’s local

custodian

Broker’slocal agent

- DRs- local deliv instr

Canceltransaction

SWIFT to deliver localshares per broker’s instructions

LocalShares

Receive instructions for the local shares

TMK ADRs

Alexei RatnikovTel +1 (630) 874 1251

Olivier HarveyTel +7(495) 775 7600 #2719

IR@tmk-group.com

IR CONTACTS

TMK Investor Relations, 40/2a, Pokrovka Street, Moscow, 105062, Russia +7(495)775-7600 IR@tmk-group.com

Thank You