TO THE ATTENTION OF SHAREHOLDERS OF PAO “TMK”

On 18 May 2020, PAO “TMK” (“TMK” or the “Company”) received a voluntary tender offer made by “Volzhsky Pipe Plant”, Joint stock company (“VTZ”) to purchase ordinary shares of TMK, registration number of issue 1-01-29031-H (the “Shares”) (the “Voluntary Tender Offer”).  The Voluntary Tender Offer is made in respect of 358,758,064 (three hundred fifty-eight million seven hundred fifty-eight thousand sixty-four) Shares on the following terms and conditions:

1. Proposed purchase price of the Shares: RUB 61 (sixty-one roubles) per one Share.
2. Period for acceptance of the Voluntary Tender Offer: 70 (seventy) days from the date the Voluntary Tender Offer was received by the Company (i.e. from 19 May 2020 to 27 July 2020, inclusive).
3. Period for payment for the Shares: the Shares to be transferred to VTZ shall be paid for within 17 (seventeen) days from the date of the expiration of the period for acceptance of the Voluntary Tender Offer (27 July 2020), i.e. by 13 August 2020, inclusive.
4. Form of payment for the Shares: the Shares shall be paid for in cash by wire transfer in roubles.  The Voluntary Tender Offer does not provide for any other forms of payment.

The procedure and period for acceptance of the Voluntary Tender Offer and for the transfer and payment for the purchased Shares is set forth in the Voluntary Tender Offer document, which is available together with the recommendations of the Board of Directors of the Company in respect of the Voluntary Tender Offer on the Company’s website at www.tmk-group.ru, https://www.tmk-group.ru/voluntary_tender_offer,  https://www.tmk-group.com/voluntary_tender_offer.

1. Voluntary Tender Offer made by VTZ
2. Recommendations of the Board of Directors of TMK in respect of the Voluntary Tender Offer
3. Information letter in relation to the Voluntary Tender Offer
4. Information letter on certain tax matters in connection with the Voluntary Tender Offer
5. The recommended form of an application to sell the shares