Moody's Changed TMK's outlook to STABLE

February 28, 2018 PRESS RELEASE

Moody's Changed TMK's outlook to STABLE

TMK, one of the world's leading producers of tubular products for the oil and gas industry, announces that Moody's Investors Service (Moody's) has today changed the outlook on TMK's ratings from «Negative» to «Stable» and affirmed the Company's B1 corporate rating.

According to Moody's, the change of the outlook reflects a significant improvement in the financial and operating performance of TMK's American division complemented by the resilience of its Russian operations to oil price volatility. It also factors in the expectation that TMK will be able to reduce leverage and maintain adequate liquidity.

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ТМК (www.tmk-group.com)

TMK (LSE: TMKS) is a leading global manufacturer and supplier of steel pipes for oil and gas industry,

operating 27 production sites in the United States, Russia, Canada, Romania, Oman and Kazakhstan with

two R&D centers in Russia and the USA. In 2017, TMK's pipe shipments totalled 3.8 million tonnes. The

largest share of TMK's sales belongs to high margin oil country tubular goods (OCTG), shipped to

customers in over 80 countries. TMK delivers its products along with an extensive package of services in

heat treating, protective coating, premium connections threading, warehousing and pipe repairing.

TMK's securities are listed on the London Stock Exchange and on the Moscow Exchange MICEX-RTS.

TMK's assets structure by division:

TMK IR Department:

Marina Badudina

Tel: +7 (495) 775-7600

[email protected]

TMK PR Department:

Mikhail Krasnov

Tel: +7 (495) 775-7600

[email protected]