VALLOUREC : Vallourec completes its 2015 employee share offering (Value 15)

Vallourec completes its 2015 employee share offering (Value 15)

Boulogne-Billancourt (France), 15 December 2015 - Vallourec today announces the completion of Value 15, a capital increase reserved for employees worldwide. Close to 12,000 employees, in twelve countries^[1], representing 55% of eligible personnel, subscribed to Vallourec's eighth international employee share offering.

The proceeds of the capital increase amounted to €17.6 million, with the issuance of 1,999,997 new shares (representing approximately 1.49% of the number of outstanding shares), subscribed at a price of €8.32 for the classic formula and €8.83 for the leverage formula. The nominal value of the capital increase is
€4 million. The offer increases the total number of Vallourec outstanding shares to 135,688,432 as of 15 December 2015.

The Value 15 offering and description of its main features were announced in the press release issued on 30 July 2015. The subscription price was announced in a press release issued on 9 November 2015.

Employee shareholders today hold around 7.8% of Vallourec's share capital.

[1] Germany, Brazil, Canada, China, the United Arab Emirates, the United States, France, India, Malaysia, Mexico, the United Kingdom and Singapore

About Vallourec

Vallourec is a world leader in premium tubular solutions primarily serving the energy markets, as well as other industrial applications.

With over 23,000 employees in 2014, integrated manufacturing facilities, advanced R&D and a presence in more than 20 countries, Vallourec offers its customers innovative global solutions to meet the energy challenges of the 21^st century.

Listed on Euronext in Paris (ISIN code: FR0000120354, Ticker VK) and eligible for the Deferred Settlement System (SRD), Vallourec is included in the following indices: Euronext 100 and SBF 120.

In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R2094, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1.

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