Core Insights - Vallourec will showcase its latest innovations in VAM connections and comprehensive service offerings at the Offshore Technology Conference Asia (OTC Asia) from March 31 to April 2, 2026, in Kuala Lumpur, Malaysia [1] Product Innovations - Vallourec will highlight advancements in its flagship VAM premium connections, which have set a benchmark in the Oil & Gas sector for performance and reliability since their introduction [3] - The company will introduce the SUBMAGNETICO FREEFLOW innovation, aimed at significantly reducing scale deposits in tubing strings, thereby enhancing production reliability and minimizing maintenance needs [4] Service Offerings - Vallourec will present its full portfolio of OCTG (Oil Country Tubular Goods) and Line Pipe products, along with services that support customers throughout the project lifecycle, including upstream engineering, operational support, and recycling solutions [2] Technical Presentations - Vallourec experts will deliver two key technical presentations focused on innovation and OCTG technologies during the event [5] - Daily live technical sessions will be held at Vallourec's booth, covering topics such as innovative on-site OCTG data acquisition technologies and cost-effective solutions for OCTG applications [6][7] Company Overview - Vallourec is a global leader in premium tubular solutions for energy markets and demanding industrial applications, employing nearly 13,000 people across more than 20 countries [6] - The company is listed on Euronext in Paris and is part of several indices, including CAC Mid 60 and SBF 120 [6]

Financial Performance - MRC Global reported second quarter 2025 revenue of $798 million, a 12% increase from the first quarter of 2025, with all sectors contributing to this growth [3][10][14] - Adjusted EBITDA for the second quarter of 2025 was $54 million, representing 6.8% of sales, compared to $65 million or 8.1% of sales in the same period of 2024 [11][61] - Net income from continuing operations for the second quarter of 2025 was $13 million, down from $30 million in the second quarter of 2024 [6][7] Sector Performance - The Production and Transmission Infrastructure (PTI) sector led the revenue growth with a 26% increase sequentially, driven by robust project activity [3][19] - Gas Utilities sector revenue increased by 10% sequentially, supported by increased construction projects [3][19] - The Downstream, Industrial, and Energy Transition (DIET) sector experienced a slight decline compared to the same quarter a year ago, but showed a 1% increase sequentially [14][20] Merger Agreement - MRC Global announced a merger agreement with DNOW Inc., which is expected to create a premier energy and industrial solutions provider [4][25] - The merger is subject to shareholder and regulatory approvals, with an anticipated closing in the fourth quarter of 2025 [25][26] Shareholder Returns - The company returned $15 million to shareholders through share repurchases at an average price of $12.35 per share during the second quarter of 2025 [3][24] - The share repurchase program has been suspended due to the pending merger with DNOW [24] Balance Sheet and Cash Flow - As of June 30, 2025, MRC Global had a cash balance of $75 million and long-term debt of $449 million [23] - The company's backlog was $589 million, a 2% decrease from the previous quarter, primarily due to a decline in the PTI sector backlog [22]