Corporate Information

Corporate Headquarters
MRC Global Inc.
Fulbright Tower
1301 McKinney Street
Suite 2300
Houston, Texas 77010
Phone 877.294.7574
mrcglobal.com

Annual Meeting of Stockholders
Friday, April 27, 2018
10:00 a.m. Houston, Texas time
Fulbright Auditorium
1301 McKinney Street
Houston, Texas 77010

Common Stock Listed
New York Stock Exchange - Symbol: MRC

Transfer Agent
Computershare, Inc.
P.O. Box 43078
Providence, RI 02940

Independent Public Accounting Firm
Ernst & Young LLP


Forward-Looking Statements

The foregoing letter to shareholders contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Words such as “optimism”, “expect”, “expected”, “will”, “believe” and similar expressions are intended to identify forward-looking statements.

Despite the company’s expectations of recovery of our markets, the activity in the Tengiz oilfield, the gains in our efficiency and profitability from our SAP ERP implementation in our international segment, our achievement of our goal to have 40% of sales from valves, valve automation and measurement and control products and improved revenue and profitability, these are only MRC Global’s expectations regarding these matters. Actual results could be materially different based on various factors. These factors include (among others) the successful design and implementation of our SAP ERP system, Chevron and TCO’s continued spending on capital and operating expenses for the Tengiz field in the future and the factors that generally impact our business as described in our Annual Report on Form 10-K for the year ended December 31, 2017 filed with the SEC and any later filings that we make with the Securities and Exchange Commission. A copy of this report accompanies this letter as part of our annual report to shareholders. For a discussion of key risk factors, please see the risk factors disclosed in the company’s SEC filings, including the Form 10-K, which are available on the SEC’s website at www.sec.gov and on the company’s website, 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.

Non-GAAP Measures

The foregoing letter to shareholders contains references to adjusted gross profit, adjusted EBITDA and adjusted gross margins. These are all non-GAAP measures, which are not necessarily better than the related GAAP measure. For a discussion of the differences between these non-GAAP measures and the related GAAP measure and a reconciliation between each, please see “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the company’s Annual Report on Form 10-K for the year ended December 31, 2017, a copy of which is included in the annual report to shareholders to which the letter is included.