Philippe Guillemot
Group Chairman & CEO

[Interpreted] Ladies and gentlemen, dear shareholders, good afternoon. I'd like to welcome you to this 2026 Annual General Meeting. Thank you for being here, and thank you for your continued trust in Vallourec. Joining me today, we have Hera Siu, Chair of the Nomination and Governance Committee and the Remuneration Committee. Nathalie Delbreuve, Chief Financial Officer; and [ Nora Lallauy ], Head of Securities Law and Corporate Governance at Vallourec. [Operator Instructions] The statutory auditors are May Kassis-Morin for Ernst & Young, Mr. Philippe Grandclerc of KPMG have been told to attend the meeting. Maitre Sebastien Chone, Judicial Officer, is also present.

I also invite the 2 members of the meeting who are present and willing representing the largest number of votes taking into account the votes held by the proxies of representing shareholders to form the presiding committee as scrutineers: The Vallourec Action employee share funds represented by Michel Cardon and Ludovic Oster. [ Nora Lallauy ] is appointed as secretary of the meeting by the presiding officer shall remind us of the legal formalities that have been completed to enable this general meeting to be held.

This meeting is being held on first notice. The notices of meeting and convocation were published in accordance with the legal and regulatory provisions in force and individual letters of convocation of notice were sent to each registered shareholder in accordance with the law. All the information documents required by law have been made available to shareholders, including on the company's website within the time frame and in accordance with the procedures laid out by