Important Notice to the holders of the U.S.$200,000,000 10.25 per cent. Notes due 2017 (the "Notes") of Interpipe Limited (the “Issuer”) ISIN XS0310283709 Reference is made to (i) the Trust Deed dated 2 August 2007 as amended by the First Supplemental Trust Deed dated 6 January 2009, the Second Supplemental Trust Deed dated 7 October 2010 and the Third Supplemental Trust Deed dated 7 December 2011 (the “Trust Deed”) between, among others, the Issuer and Deutsche Trustee Company Limited (the “Trustee”) and (ii) to the Loan Agreement dated 20 July 2007 between PJSC Interpipe Nizhnednesprovsky Tube Rolling Plant, CJSC Interpipe Nikopolsky Seamless Tubes Plant Niko Tube and LLC Interpipe Ukraine (the “Initial Sureties”) and the Issuer as Lender (the “Loan Agreement”). Words and expressions defined in the Trust Deed shall, except where the context otherwise requires, have the same meanings in this notice. Informal committee of Noteholders: following the Trustee’s notice of 13 February 2015, wherein holders were notified that, as a result of the failure by the Issuer to make the interest payment on the Notes on 2 February 2015, which failure continued for a period of five Business Days, an Event of Default has occurred, at the request of a noteholder (the “Requesting Noteholder”) the Trustee issued a further notice date 20 February 2015, inviting any other Noteholders interested in forming an ad hoc group, to contact it. The Requesting Noteholder has again requested the Trustee to issue a notice, inviting Noteholders to contact it using the following contact details: CarVal Investors – Sarvin Patel Email: [email protected] Telephone: +1 952 984 3731 The Trustee expresses no opinion as to the action Noteholders should take. Noteholders who wish to consider their position should take and rely on their own legal advice and may not rely on the legal advice provided to the Trustee, statements as to the legal position included in notices relating to the Notes issued by the Trustee or otherwise or the views of the Trustee expressed herein or otherwise. The Trustee makes no recommendations and gives no investment advice herein or as to the Notes generally. Deutsche Trustee Company Limited 1 April 2015 1