EMPLOYEE SHAREHOLDING PLAN

Vallourec Invest 2026 is the new Vallourec employee shareholding plan. As a Vallourec employee in the USA, the company is offering you the opportunity to invest directly in Vallourec shares, subject to a lock-up period of 2 years in the form of and International Employee Share Ownership Plan (IESOP).
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.

Under the direct shareholding structure, shares are purchased within an employee share savings account. Subscribing to Vallourec Invest 2026 in the US makes you a shareholder in the company, which entitles you to receive dividends and vote at the Annual General Meeting.

Eligibility is as follows:

• employees of companies in which Vallourec holds an equity stake greater than 50%, who have been with the company for at least 3 months (whether continuously or not) between January 1^st, 2025 and the final day of the subscription period, which is April 3^rd, 2026.
  This means that employees on fixed-term contracts, work/study trainees and all other employees meeting the conditions stated above are eligible.

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.
The minimum personal contribution to Vallourec Invest 2026 is equivalent to the subscription price of one share.

Any dividends paid during the period of your investment will be paid to you in accordance with the standard methods and date of dividend payment.
These dividends are taxable in France and in the USA (please refer to the USA Country Supplement).
Please note that any distribution of dividends is subject to approval by the Vallourec Annual General Meeting of Shareholders.

The employer match contribution takes the form of one share for every share subscribed. It may not exceed the maximum number of shares⁽¹⁾ whose total subscription price is the equivalent of €100 in US dollars or less.
The full amount of the gross employer match contribution entitles you to subscribe to a whole number of additional shares; however, it is subject to social security charges and income tax, which will be deducted from your salary payment no later than June 2026.

(1) For example: at a subscription price of €15.51, the maximum contribution would be 6 shares with a combined gross value of €93.06.

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.
Where multiple subscriptions have been submitted, the most recent online subscription or printed form received will prevail.

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 would remind you to carefully read the online brochure and USA Country Supplement before subscribing. Both are available on the dedicated website at https://invest2026.vallourec.com.

You may keep or sell all or part of your Vallourec shares.

The value of your Vallourec shares can be viewed online in the Personal Area of the Banque Transatlantique website (www.banquetransatlantique.com). Stock performance is also available during trading hours on the NYSE Euronext website.

You can log in to the Banque Transatlantique website (www.banquetransatlantique.com) using your personal login details shown on your account statement. This website allows you to view your account, view transactions and find useful information about how your account operates.

If you forget your password, you can request to receive a temporary password by e-mail by clicking “FORGOT PASSWORD” on the login page (https://transatplan.banquetransatlantique.com).
If you lose your login, please call the Banque Transatlantique contact center.