EMPLOYEE SHAREHOLDING PLAN

Vallourec Invest 2026 is an international employee share ownership plan (IESOP) in an FCPE, which has a reduced lock-up period of 2 years. You invest in the Vallourec New Shares Relais 2026 FCPE, intended to be merged¹ into the existing New Vallourec Shares FCPE.
Your investment is not guaranteed.

Vallourec Invest 2026 is a capital increase transaction exclusive to Vallourec employees, and was adopted by the Vallourec Annual General Meeting of Shareholders on May 22^nd, 2025.

1 Following a decision by the Supervisory Board and the approval of the French Financial Markets Authority (AMF).

An employee mutual fund is a portfolio of transferable securities that are held jointly by all employee mutual fund member subscribers and divided into units.
By subscribing to Vallourec Invest 2026, you are not a direct shareholder of Vallourec; instead, the employee mutual fund holds the shares and you hold units in the FCPE.

By subscribing to Vallourec Invest 2026, you are not a direct shareholder of Vallourec; instead, you are an indirect shareholder through the employee mutual fund, which holds the shares and in which you hold units. Any dividends must be reinvested in the New Vallourec Shares FCPE.

Eligibility is as follows:

• employees of companies in which Vallourec holds an equity stake greater than 50% and member of the International Employee Share Ownership Plan (IESOP), who have been with the company for at least 3 months (whether continuously or not) between January 1^st, 2026 and the final day of the subscription period, which is April 3^rd, 2026.

Employees who do not meet these criteria are therefore not eligible.

The only way you can fund your personal contribution to Vallourec Invest 2026 is by making a voluntary payment, which will be deducted from your salary over 6 months.

Any dividends paid during the term of your investment will be reinvested in the New Vallourec Shares FCPE, which will increase the value of the FCPE units.

When Vallourec's Annual General Meeting decides to distribute a dividend, the FCPE receives an amount in euros equal to the number of shares it owns multiplied by the unit amount of the dividend.
This amount is invested in Vallourec shares at market value (without discount) and increases the value of the FCPE share.
The amount paid is thus locked in like the shares that gave rise to the dividend.
Thus, sums corresponding to dividends paid from April 2026 on shares subscribed during Vallourec Invest 2025 will be blocked until April 2027; and sums corresponding to dividends paid from April 2026 on shares subscribed during Vallourec Invest 2026 will be blocked until April 2028.

Vallourec will match 100% of your personal investment up to a maximum gross amount of EUR100 in local currency equivalent. The exchange rate used to calculate the subscription price and employer's match contribution will be the exchange rate as of March 19^th, 2026.
The tax and social security contributions are detailed in the Country Supplement.

The subscription period runs from March 23^rd to April 3^rd, 2026 (inclusive).

The subscription price will be announced on March 19^th, 2026, and will reflect a 20% discount on the reference price. This equates to the average share price weighted by daily volumes in the 20 trading days preceding March 19^th, 2026 (i.e.: from February 19^th to March 18^th, 2026 inclusive).

Sign in to the dedicated website at https://invest2026.vallourec.com. Clicking “subscribe” will take you directly to the subscription website, where you can use your personal login and password details e-mailed to you or given to you by your HR department. You can then make your subscription.

Access codes to the subscription website are sent to eligible employees at their professional e‑mail address. If you do not have a professional e-mail address, please contact your HR department, who will be able to send you your codes to a personal e-mail address, or enter your subscription if necessary.

You can cancel or modify your subscription at any time before the final day of the subscription period, but your subscription can neither be changed nor canceled once the subscription period has expired, i.e. on April 3^rd, 2026, at 11:59 p.m.

The assets you have invested in Vallourec Invest 2026 are locked up for a period of two years from April 29^th, 2026, that is to stay until April 28^th, 2028 (inclusive), except in the event of any early release cases described in the Country Supplement.

The value of your total investment is not guaranteed.
The total amount of your investment is open to the risk of capital loss. The value of your total investment will fluctuate with the value of Vallourec shares, exposing you to risks specific to equity investment. We remind you to read the Key Information Document (DIC) available on the dedicated website https://invest2026.vallourec.com before subscribing.

At the end of the lock-up period, you will be free to:

• Request that you redeem all or part of your units in the New Vallourec Shares FCPE,
• Keep your assets in the New Vallourec Shares FCPE.

After the delivery of FCPE units, Amundi ESR will provide a program notice detailing the subscription to Vallourec Invest 2026. Each year, Amundi ESR will send you a summary of your assets. This information will also be available online at https://amundi-ee.com/account.

You can log in to the Amundi website (https://amundi-ee.com/account) using your personal login details, shown on your account statement. On the site, you can consult your account, view transactions and find useful information on FCPE operations.

If you forget your password, you can request to receive a temporary password by e-mail by clicking on “Forgot password” on the login page.
If you have lost your login, please contact the HR department.