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TMK announces the results of the consent solicitation

PAO “TMK” (“TMK”) announces that at a meeting (the "Meeting") held at 11.00 a.m. (London time) on 16 November 2017 of the holders (the "Noteholders") of the Notes constituted by a trust deed dated 3 April 2013 (the "Trust Deed") made between the Issuer and Deutsche Trustee Company Limited as trustee for the Noteholders, the Extraordinary Resolution detailed in the Notice of Meeting and referred to in an announcement made by TMK, each dated 25 October 2017, was passed.

The Payment Date is expected to be on 23 November 2017. The Amendment Documentation and the Deed of Release are expected to be executed on 17 November 2017.

Capitalised terms used in this announcement have the meanings ascribed to them in the consent solicitation memorandum dated 25 October 2017.

Solicitation Agents and Tabulation Agent

The Solicitation Agents are:

The Tabulation Agent is:

Lucid Issuer Services Limited

Tankerton Works

12 Argyle Walk

London WC1H 8HA

Telephone: +44 207 704 0880

E-mail: tmk@lucid-is.com

Attention: David Shilson / Alexander Yangaev

For further information please contact:

TMK IR Department:

Marina Badudina

Tel: +7 (495) 775-7600

IR@tmk-group.com

TMK PR Department:

Alexander Goryunov

Tel.: +7 (495) 775 7600 ext. 21-25

E-mail: pr@tmk-group.com

TMK announces the results of the consent solicitation