Vallourec : 2021 Combined Shareholders’ Meeting - Presentation

COMBINED SHAREHOLDERS' MEETING

April 20, 2021

LEGAL DISCLAIMER

Forward-Looking Statements

This presentation may include forward-looking statements. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms as "believe", "expect", "anticipate", "may", "assume", "plan", "intend", "will", "should", "estimate", "risk" and or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts and include statements regarding the Company's intentions, beliefs or current expectations concerning, among other things, Vallourec's results of operations, financial condition, liquidity, prospects, growth, strategies and the industries in which they operate. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These risks include those developed or identified in the public documents filed by Vallourec with the French Financial Markets Authority (Autorité des marchés financiers, or "AMF"), including those listed in the "Risk Factors" section of the Universal Registration Document filed with the AMF on March 29, 2021 under filing number D.21-0226. Readers are cautioned that forward-looking statements are not guarantees of future performance and that Vallourec's or any of its affiliates' actual results of operations, financial condition and liquidity, and the development of the industries in which they operate may differ materially from those made in or suggested by the forward-looking statements contained in this presentation. In addition, even if Vallourec's or any of its affiliates' results of operations, financial condition and liquidity, and the development of the industries in which they operate are consistent with the forward-looking statements contained in this presentation, those results or developments may not be indicative of results or developments in subsequent periods.

Cautionary Statement

This presentation does not, and shall not, in any circumstances constitute a public offering or an invitation to the public in connection with any offer.

No communication and no information in respect of these transactions may be distributed to the public in any jurisdiction where a registration or approval is required. No steps have been or will be taken in any jurisdiction (other than France) where such steps would be required. The issue, the subscription for or the purchase of Vallourec's shares may be subject to specific legal or regulatory restrictions in certain jurisdictions. Vallourec assumes no responsibility for any violation of any such restrictions by any person. This presentation is not a prospectus within the meaning of Regulation (EU) 2017/1129 of the European Parliament and the Council of June 14, 2017.

This presentation does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. Vallourec shares may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Vallourec does not intend to register in the United States any portion of the offering mentioned in this presentation or to conduct a public offering of the shares in the United States.

The distribution of this presentation in certain countries may constitute a breach of applicable law. The information contained in this presentation does not constitute an offer of securities for sale in the United States, Canada, Australia or Japan.

Combined shareholders' meeting 2021

April 20, 2021 2

INTRODUCTION

Édouard Guinotte

Chairman of the Management Board

SAFETY & QUALITY: AN ABSOLUTE PRIORITY

SAFETY	QUALITY
SAFETY INDICATORS	CUSTOMER CLAIMS

14											Base 100 in 2015
12											100
10									TRIR
8									Target 2021*
								<1.4
6
4												22	17
2
0
2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2015	2020*	2021 target*

LTIR TRIR

LTIR : Lost Time Injury Rate
TRIR : Total Recordable Injury Rate
Tianda included in the indicators since 2018 and * VNTU included since 2021	* VNTU not consolidated
Combined shareholders' meeting 2021	April 20, 2021 4

KEY HIGHLIGHTS OF THE YEAR

Édouard Guinotte

Chairman of the Management Board