Successful completion of Vallourec Invest 2023, Vallourec's employee share offering.

Successful completion of Vallourec Invest 2023, Vallourec's employee share offering.

Meudon (France), December 13, 2023 - Vallourec, a world leader in premium steel tubular solutions, announces today the successful completion of the Vallourec Invest 2023 employee share ownership plan.

5,115 employees of the Group in France, Brazil and the United States have chosen to participate in Vallourec Invest 2023 and subscribe to Vallourec shares with a 20% discount and a matching contribution. This represents nearly one eligible employee out of two.

This offer, which falls within the scope of the delegations of authority delegated by the Shareholders’ General Meeting on May 25, 2023, reflects Vallourec's commitment to involving the Group’s employees in value creation and recognizing the progress made so far in the implementation of the New Vallourec Plan.

It results in the creation of 490,101 new shares (representing 0.21% of Vallourec's capital) and brings the total number of shares composing the capital to 237,271,828 as of December 13, 2023.

About Vallourec

Vallourec provides benchmark tubular solutions for the energy sector and for some of the most demanding industrial applications. Its offer ranges from oil and gas wells in extreme conditions to high-performance mechanical equipment, as well as solutions for hydrogen, CCUS (Carbon Capture, Utilization and Storage), geothermal and solar energy markets.

Listed on Euronext Paris (ISIN code: FR0013506730, Ticker VK), Vallourec features on the CAC Mid 60, SBF 120 and Next 150 indices and is eligible for the Service de Règlement Différé (SRD, “Deferred Settlement Service”).

In the United States, Vallourec has set up a sponsored level 1 American Depositary Receipt (ADR) programme (ISIN code: US92023R4074, Ticker: VLOWY). The parity rate between the ADR and an ordinary Vallourec share is 5 to 1.

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