MRC Global : Investor Presentation - 2Q 2023 Update

Investor Presentation - 2Q 2023 Update

September 18, 2023

Rob Saltiel

President & CEO

Kelly Youngblood

Executive Vice President & CFO

Forward Looking Statements

This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Words such as "will," "expect," "look forward," "guidance," "targeted", "goals", and similar expressions are intended to identify forward-looking statements. Statements about the company's business, including its strategy, its industry, the company's future profitability, the company's guidance on its sales, Adjusted EBITDA, Adjusted Net Income, Adjusted Diluted EPS, Adjusted SG&A, Gross Profit, Gross Profit percentage, Adjusted Gross Profit, Adjusted Gross Profit percentage, Net Debt, Tax Rate, Capital Expenditures and Cash from Operations, Free Cash Flow, Free Cash Flow after Dividends, growth in the company's various markets and the company's expectations, beliefs, plans, strategies, objectives, prospects and assumptions are not guarantees of future performance. These statements are based on management's expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward- looking statements. These statements involve known and unknown risks, uncertainties and other factors, most of which are difficult to predict and many of which are beyond our control, including the factors described in the company's SEC filings that may cause our actual results and performance to be materially different from any future results or performance expressed or implied by these forward- looking statements, including the company's Current Report on Form 8-K dated August 7, 2023.

For a discussion of key risk factors, please see the risk factors disclosed in the company's SEC filings, which are available on the SEC's website at www.sec.gov and on the company's website, www.mrcglobal.com. Our filings and other important information are also available on the Investor Relations page of our website at www.mrcglobal.com.

Undue reliance should not be placed on the company's forward-looking statements. Although forward- looking statements reflect the company's good faith beliefs, reliance should not be placed on forward- looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause the company's actual results, performance or achievements or future events to differ materially from anticipated future results, performance or achievements or future events expressed or implied by such forward-looking statements. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, except to the extent required by law.

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Non-GAAP Disclaimer

In this presentation, the company is providing certain non-GAAP financial measures. These are not measures of financial performance calculated in accordance with U.S. Generally Accepted Accounting Principles (GAAP) and should not be considered as alternatives. The following GAAP measures have the following non-GAAP measures presented and derived from the respective GAAP measures:

• Net Income (adjusted EBITDA)
• Net Income margin (adjusted EBITDA margin)
• Gross profit (Adjusted Gross Profit)
• Gross profit percentage (Adjusted Gross Profit percentage)
• Net Income (adjusted Net Income)
• Diluted Earnings per Share (adjusted diluted EPS)
• Selling, general and administrative expense (adjusted SG&A)
• Net cash provided by operations (free cash flow and free cash flow after dividends)
• Long-termdebt, net (Net Debt)
• Return on Invested Capital (ROIC), Adjusted for LIFO

They should be viewed in addition to, and not as a substitute for, analysis of our results reported in accordance with GAAP. Management believes that these non-GAAP financial measures provide investors a view to measures similar to those used in evaluating our compliance with certain financial covenants under our credit facilities and provide meaningful comparisons between current and prior year period results. They are also used as a metric to determine certain components of performance-based compensation. They are not necessarily indicative of future results of operations that may be obtained by the company.

Leading Global Distributor of Industrial Products, Services & Supply Solutions

Integral Supply Chain Partner to Customers and Suppliers

Market-Leading Expertise in Industrial Products, Services and Supply Solutions

Scalable Capabilities in Projects, Maintenance and Turnarounds across Multiple End-Market Sectors

• Industrial Infrastructure Products
• • Flow-controlequipment (valves and pipe) including low-emission valves that control pollution
  • Measurement and instrumentation
  • Gas meters and polyethylene pipe
• Value-addedServices
• • Valve actuation, modification and ValidTorqueTM
  • Complete engineering documentation (CAD drawings)
  • Testing services (e.g., hydrostatic testing, weld x-rays)
  • Steam system surveys and audits
  • On-siteproduct assistance, training and demonstrations
• Quality Assurance Program - Approved Manufacturers List Qualification & Supplier Audits to minimize

quality issues and promote customer loyalty

• Integrated Supply Solutions - Complete inventory management services including warehouse and logistics solutions, stock replenishment and product rationalization