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Main Shareholders and Company’s Controlling Party

The Main Shareholders are those who have more than 20% of ownership in the Company which have been issued by the Company. Based on the Shares Administration Company, PT Sirca Datapro Perdana, the shareholders who hold more than 20% of Company’s shares are:

1. Kestrel Wave Investment Limited, a company established according to Hong Kong Laws, with address C/O 7th Fl. Bonham Centre 79-85 Bonham Strand, Sheung Wan, Hong Kong, holds 48.231% of the Company’s shares.

2. Vallourec Tubes, a company established according to French Laws, with address at 27 Avenue du General Leclerc 92100 Boulogne-Billancourt, France owner of 33.484% Company’s shares.

Vallourec SA, listed in the Paris Stock Exchange, is the ultimate shareholder of the Company.