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4Q 2020 Investor Conference Presentation – MRC Global Inc.

MRC Global Inc. · Feb 11, 2021 · 34 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 1
    4Q 2020 Investor Conference Presentation 1 4Q 2020 Investor Conference Presentation February 11, 2021 Andrew Lane President & CEO Kelly Youngblood Executive Vice President & CFO
  2. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 2
    4Q 2020 Investor Conference Presentation 2 Forward Looking Statements & Non-GAAP Disclaimer This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange…
  3. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 3
    4Q 2020 Investor Conference Presentation 3 MRC Global is a Leader in PVF Distribution An Infrastructure Company Largest Pipe, Valves & Fittings (PVF) Distributor 2020 Sales of 2.6B Industrial Distributor with Diversified Business…
  4. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 4
    4Q 2020 Investor Conference Presentation 4 Compelling Investment Opportunity World-class Management Team with Significant Distribution & Energy Experience Market leader in PVF distribution, serving critical function to the energy…
  5. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 5
    4Q 2020 Investor Conference Presentation 5 2020 Accomplishments & Key Corporate Goals Creating Sustainable Shareholder Value Through the Cycle 2020 Accomplishments Goals 2021 - 2023 Preserved and grew market share, maintaining…
  6. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 6
    4Q 2020 Investor Conference Presentation 6 Global Footprint Strategically Located in Key Geographies to Deliver Solutions to Customers NORTH AMERICA INTERNATIONAL Branches 94 Branches 22 RDCs 7 RDCs 6 VECs 13 VECs 12 Countries…
  7. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 7
    4Q 2020 Investor Conference Presentation 7 MRC Global is a Critical Link Between Its Customers & Suppliers Valves Gas Products Pipe, Fittings, Flanges and Other Customer Value Proposition Outsource non-core supply chain and…
  8. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 8
    4Q 2020 Investor Conference Presentation 8 Long-Term End Market Growth Opportunities Gas Utilities Gas utilities are investing in multi-year infrastructure modernization programs to upgrade old, lower pressure distribution systems…
  9. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 9
    4Q 2020 Investor Conference Presentation 9 Well Positioned Through Cycle Diversified by Region, Industry Sector & Product Line 23% Upstream Production 33% Gas Utilities REVENUE BY INDUSTRY 13% Midstream SECTOR Pipeline…
  10. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 10
    4Q 2020 Investor Conference Presentation 10 Gas Utilities Providing Gas Products to Regulated Gas Utility Customers Business drivers: o Multi-year pipeline integrity projects & enhancement projects o New & upgrade residential &…
  11. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 11
    4Q 2020 Investor Conference Presentation 11 Downstream & Industrial Providing PVF to Refining, Chemical & Industrial Customers Refining: o Recurring MRO revenue from planned & unplanned maintenance o Provide on-location zone…
  12. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 12
    4Q 2020 Investor Conference Presentation 12 Upstream Production Providing Completion Infrastructure to E&P Operators Provide well hook-ups via on-site product trailers, above-ground infrastructure PVF products for flow lines & tank…
  13. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 13
    4Q 2020 Investor Conference Presentation 13 Midstream Pipeline Providing PVF to Pipeline Infrastructure Customers Transmission & Gathering: o Provide PVF to midstream gathering and processing customers o Provide PVF bulks &…
  14. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 14
    4Q 2020 Investor Conference Presentation 14 Long-term Strategy Creating Sustainable Shareholder Value Through the Cycle Grow Market Share Maximize Profitability Provide superior customer service & Focus on higher margin products,…
  15. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 15
    4Q 2020 Investor Conference Presentation 15 E-Commerce Platform Capabilities Increase Efficiencies Visionto create an end-to-end digital supply that connects MRC Global to its customers and vendors at every touch point. Grow…
  16. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 16
    4Q 2020 Investor Conference Presentation 16 Investing in E-Commerce Technology Long-Term Growth & Efficiency E-Commerce based revenue expected to increase to 50% of revenue by 2023 of the top 36 North American customers TTM…
  17. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 17
    4Q 2020 Investor Conference Presentation 17 MRC Globals Valve Growth Strategy Valve-Centric Growth Strategy Provides Higher Margins 10% Gas Utilities 28% U.S. Oil & Gas Valve Sales were 5.2B1 (2.6B through Upstream distribution)…
  18. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 18
    4Q 2020 Investor Conference Presentation 18 Market Penetration Valve Engineering & Modification Investment in Value-Added Valve Modification Capabilities Valve Engineering & Modification Center at Houston Operations Complex…
  19. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 19
    4Q 2020 Investor Conference Presentation 19 Maximizing Profitability & Working Capital Efficiency Portfolio Optimization Adjusted Gross Margin1 19.7% Product Margin Enhancement 18.7% Investment in higher margin products &…
  20. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 20
    4Q 2020 Investor Conference Presentation 20 Strategic Capital Decisions Support Growth Well-Positioned Balance Sheet Advantageous debt agreements with favorable 25% 22% terms, low interest rate and maturities 2022+ Share…
  21. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 21
    4Q 2020 Investor Conference Presentation 21 Committed to Long-Term Sustainability Environmental Pollution control our products function to prevent hydrocarbon and chemical leaks among other products, we provide low-e valve…
  22. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 22
    4Q 2020 Investor Conference Presentation 22 MRC Globals ESG Commitment Committed to responsibly operating and long-term sustainability Safety Performance 2020 TRIR and LWDR were the best recorded safety performance in the companys…
  23. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 23
    4Q 2020 Investor Conference Presentation 23 Quarterly & Financial Performance YTD ( millions, except per share data) SALES ADJUSTED GROSS PROFIT & % MARGIN1 3,662 719 2,560 504 766 151 585 579 114 115 19.7% 19.7% 19.7%…
  24. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 24
    4Q 2020 Investor Conference Presentation 24 Strong Balance Sheet & Financial Flexibility ( millions) TOTAL DEBT CAPITAL STRUCTURE December 31, 2020 551 Cash and Cash Equivalents 119 Total Debt (including current portion): 409…
  25. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 25
    4Q 2020 Investor Conference Presentation 25 APPENDIX
  26. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 26
    4Q 2020 Investor Conference Presentation 26 APPENDIX Customer Contract Wins & Renewals Strong Record Yields Growth Opportunities Selected Recent Contract Awards & Renewals 1 Renew Existing & Obtain New MRO Contract Customers…
  27. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 27
    4Q 2020 Investor Conference Presentation 27 APPENDIX Capital Structure & Liquidity Support Growth Credit Agreements (ABL & Team Loan) Global ABL matures in September 2022 and Term Loan B matures in September 2024 Term Loan B has…
  28. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 28
    4Q 2020 Investor Conference Presentation 28 APPENDIX Annual Financial Performance ( millions, except per share data) SALES ADJUSTED GROSS PROFIT & % MARGIN1 5,933 1,120 5,571 1,058 1,009 5,231 4,529 814 819 4,172 719 3,646…
  29. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 29
    4Q 2020 Investor Conference Presentation 29 APPENDIX Balance Sheet ( millions) TOTAL DEBT CAPITAL STRUCTURE December 31, 2020 1,447 Cash and Cash Equivalents 119 1,245 Total Debt (including current portion): 978 Term Loan B…
  30. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 30
    4Q 2020 Investor Conference Presentation 30 APPENDIX Adjusted Gross Profit Reconciliation THREE MONTHS ENDED YEAR ENDED DECEMBER 31 Dec 31, Sept. 30, Dec. 30, ( millions) 2020 2019 2018 2017 2016 2015 2014 2013 2012 2020 2020…
  31. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 31
    4Q 2020 Investor Conference Presentation 31 APPENDIX Adjusted SG&A Reconciliation THREE MONTHS ENDED ( millions) Dec. 31, 2020 Dec. 31, 2019 SG&A 97 141 Severance and restructuring (2) (4) Facility Closures 1…
  32. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 32
    4Q 2020 Investor Conference Presentation 32 APPENDIX Adjusted EBITDA Reconciliation THREE MONTHS ENDED YEAR ENDED DECEMBER 31 Dec. 31, ( millions) 2020 Sept. 30, 2020 Dec. 31, 2019 2020 2019 2018 2017 2016 2015 2014 2013 2012…
  33. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 33
    4Q 2020 Investor Conference Presentation 33 APPENDIX Adjusted Net Income Reconciliation THREE MONTHS ENDED Dec. 31, 2020 Sept. 30, 2020 Dec. 31, 2019 ( millions) Amount Per Share Amount Per Share Amount Per Share Net (loss)…
  34. 4Q 2020 Investor Conference Presentation – MRC Global Inc. – slide 34
    4Q 2020 Investor Conference Presentation 34 APPENDIX Adjusted Net Income Reconciliation YEAR ENDED DECEMBER 31 ( millions) 2020 2019 2018 2017 2016 2015 2014 2013 2012 Amount Per Share Amount Per Share Amount Per Share Amount Per…

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