VALLOUREC: Appointment of a new Board member to the Supervisory Board

 Vallourec Supervisory Board:
Appointment of a new Board member

Boulogne-Billancourt, 28 March 2017 - In its 28th March 2017 session, the Supervisory Board decided to submit to the vote of the shareholders' annual General Meeting on 12th May 2017 the appointment of Mr Yuki Iriyama as Supervisory Board member, for a term of four years ending after the Ordinary General Meeting of Shareholders called to approve the accounts of the financial year ending 31st December 2020.

Mr Yuki Iriyama is admitted in Japan as an attorney-at-law and is currently Of Counsel of Kajitani Law Offices in Tokyo. He began his career in 1970 in the legal department of Nippon Steel Corporation (currently Nippon Steel & Sumitomo Metal Corporation - NSSMC) and assumed different operational positions in Japan and internationally for NSSMC until 2009. He was lastly Executive Advisor for NSSMC until 2014.

In accordance with the shareholder's agreement entered into with NSSMC on 1st February 2016, the appointment of Mr Yuki Iriyama is proposed by NSSMC, a key partner and shareholder that has demonstrated its long-term commitment alongside the company. Mr Yuki Iriyama will be subject to ring-fencing measures to prevent the exchange of any competitively sensitive information. Compliance with these measures will be ensured by the Appointments, Compensation and Governance Committee of the Supervisory Board.

Mr. Olivier Bazil resigned effective 11th May 2017 to leave his seat vacant in order to allow the appointment of Mr Yuki Iriyama.

The Chairman of the Supervisory Board and all Board members would like to thank Mr. Olivier Bazil for his active involvement and contribution in the Supervisory Board and the Financial and Audit Committee.

Mr Yuki Iriyama

A Japan national born on 19 November 1947, Mr Yuki Iriyama graduated from the University of Tokyo (Faculty of Law, 1970) and College of Europe at Bruges in Belgium (Advanced European Study in Law, 1977).

He began his career in 1970 in the legal department of Nippon Steel Corporation (currently Nippon Steel & Sumitomo Metal Corporation - NSSMC) and assumed different operational positions in Japan and internationally for NSSMC until 2009. He managed the Electronics & Information Business Division from 1990 to 1993, when he became General Manager of Semi-conductor Business Division, and then General Manager of Overseas Business Development Division. He was appointed Director, Member of the Board in 2002 and Managing Executive Officer in 2006. Then, he assisted NSSMC as Executive Advisor until 2014.

Mr Yuki Iriyama is admitted in Japan as an attorney-at-law and is currently, Of Counsel of Kajitani Law Offices in Tokyo.

About Vallourec

Vallourec is a world leader in premium tubular solutions for the energy markets and for demanding industrial applications such as oil & gas wells in harsh environments, new generation power plants, challenging architectural projects, and high-performance mechanical equipment. Vallourec's pioneering spirit and cutting-edge R&D open new technological frontiers. With nearly 19,000 dedicated and passionate employees in more than 20 countries, Vallourec works hand-in-hand with its customers to offer more than just tubes: Vallourec delivers innovative, safe, competitive and smart tubular solutions, to make every project possible.

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: SBF 120 and Next 150.

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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