Vallourec ADR

Sponsored ADR program in the United States

Since 4 October 2010, Vallourec ADRs have been traded in the United States in the over-the-counter (OTC) market. An ADR is a US dollar denominated security representing shares in a non-US company, which allows American investors to indirectly hold shares and to trade them on securities markets in the United States. J.P. Morgan will issue ADR certificates representing Vallourec shares, with dividend and voting rights attached. As the depositary bank, J.P. Morgan will distribute dividends in U.S dollars and facilitate the voting process on behalf of ADR holders.
Financial disclosure and quotes for the company are available on http://otcmarkets.com/.

Ratio 5 ADR represent 1 Vallourec share

Location New York

Market OTC

Codes
ISIN: US92023R2094,

Ticker symbol: VLOWY

Cusip number: 92023R 30 8

Depositary Bank JP Morgan Chase Bank

Direct link to Vallourec page on adr.com

ADR shareholders contact

General: (800) 990-1135
If calling from outside the U.S.: (651) 453-2128
E-mail: jpmorgan.adr@wellsfargo.com

JPMorgan Service Center
JPMorgan Chase & Co
P.O. Box 64504
St. Paul, MN 55164-0504
USA

ADR Questions/Answers

What is an ADR?

An American Depositary Receipt, or ADR, is a negotiable U.S. security representing ownership of publicly traded shares in a non-U.S. corporation. There are several levels of ADR : non sponsored ADR and level 1, 2 or 3 ADR. Non sponsored ADR and level 1 ADR (Vallourec case) are not quoted but traded in the over-the-counter (OTC) market, while level 2 and 3 ADR's are quoted and traded in U.S. dollars in the U.S. securities market. Dividends, when paid, are paid to investors in U.S. dollars. ADRs were specifically designed to facilitate the purchase, holding and sale of non-U.S. securities by U.S. investors.

Where are Vallourec' ADRs traded?

The ADR shares are traded in the US on the Over The Counter (OTC) market . The ticker symbol is VLOWY / VLOWD.

How can I buy Vallourec ADRs?

You can purchase ADRs directly through your broker as a beneficial or 'street name' holder. Beneficial or 'street name' holders usually hold their shares through a bank or brokerage account and are not directly registered on the books of the company.

What are the benefits of holding ADRs?

ADRs eliminate many of the obstacles of holding non-U.S. securities since they trade and settle according to U.S. market practices, are quoted and traded in dollars and pay dividends in dollars.

Who is your depositary bank and transfer agent?

Our ADR depositary bank and transfer agent is JPMorgan Chase Bank, N.A.. Any inquiries regarding an individual ADR holding can be directed to JPMorgan Chase Bank, N.A.

How do I convert my shares into ADRs and vice versa?

You can transfer your foreign shares to JPMorgan's custodian bank in the issuer's home country. Upon receipt of the foreign shares, JPMorgan Chase Bank, N.A. will issue ADRs to you, representing the newly deposited shares. To convert your ADRs back into foreign shares, you should instruct your broker to cancel the ADRs, and provide him or her with complete delivery instructions in the issuer's home country.

Where can I direct inquiries relating to ADR dividend payments, transfer of ADR certificates, consolidation of shareholders accounts?

ADR shareholders contact :
JPMorgan Chase & Co
P.O. Box 64504
St. Paul, MN 55164-0504
USA

Phone : (800) 990-1135
Phone :+1 (651) 453-2128 for enquiries from outside the united States
E-mail: jpmorgan.adr@wellsfargo.com

Can I subscribe to receive company news electronically?

The RSS feed allows you to be informed in real time about the publication of information.
Details of forthcoming events concerning Vallourec are available on the Financial agenda.

How do I obtain documentation about Vallourec, such as the Registered document, annuel report, sustainable development report and quaterly results?

In electronic form: the Registered Document, annual report, sustainable development report, presentations on quarterly results and investor presentations may be downloaded in PDF form from the Investor Pack tab.

In paper form: the Registered Document, annual report and sustainable development report may be ordered online from the General meetings tab.