<SEC-DOCUMENT>0000921895-24-000677.txt : 20240319
<SEC-HEADER>0000921895-24-000677.hdr.sgml : 20240319
<ACCEPTANCE-DATETIME>20240319111720
ACCESSION NUMBER:		0000921895-24-000677
CONFORMED SUBMISSION TYPE:	DFAN14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240319
DATE AS OF CHANGE:		20240319

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MRC GLOBAL INC.
		CENTRAL INDEX KEY:			0001439095
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-INDUSTRIAL MACHINERY & EQUIPMENT [5084]
		ORGANIZATION NAME:           	07 Trade & Services
		IRS NUMBER:				205956993
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DFAN14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35479
		FILM NUMBER:		24761495

	BUSINESS ADDRESS:	
		STREET 1:		FULBRIGHT TOWER
		STREET 2:		1301 MCKINNEY STREET, SUITE 2300
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77010
		BUSINESS PHONE:		877.294.7574

	MAIL ADDRESS:	
		STREET 1:		FULBRIGHT TOWER
		STREET 2:		1301 MCKINNEY STREET, SUITE 2300
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77010

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MCJUNKIN RED MAN HOLDING CORP
		DATE OF NAME CHANGE:	20080702

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ENGINE CAPITAL, L.P.
		CENTRAL INDEX KEY:			0001580320
		ORGANIZATION NAME:           	
		IRS NUMBER:				364755478
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DFAN14A

	BUSINESS ADDRESS:	
		STREET 1:		1370 BROADWAY
		STREET 2:		5TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018
		BUSINESS PHONE:		(212) 321-0048

	MAIL ADDRESS:	
		STREET 1:		1370 BROADWAY
		STREET 2:		5TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Engine Capital Management, L.P.
		DATE OF NAME CHANGE:	20180628

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Engine Capital, L.P.
		DATE OF NAME CHANGE:	20130628
</SEC-HEADER>
<DOCUMENT>
<TYPE>DFAN14A
<SEQUENCE>1
<FILENAME>dfan14a09488047_03192024.htm
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>UNITED
STATES</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SECURITIES
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14a-101)</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">INFORMATION REQUIRED IN PROXY STATEMENT</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">SCHEDULE 14A INFORMATION</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Amendment No. )</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Filed by the Registrant &#9744;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Filed by a Party other than the Registrant &#9746;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">&#9744;</TD><TD>Preliminary Proxy Statement</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top"><TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">&#9744;</TD><TD>Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top"><TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">&#9744;</TD><TD>Definitive Proxy Statement</TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top"><TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">&#9744;</TD><TD>Definitive Additional Materials</TD></TR></TABLE>



<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top"><TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">&#9746;</TD><TD>Soliciting Material Under &sect; 240.14a-12</TD></TR></TABLE>



<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 100%; text-align: center; vertical-align: top; border-bottom: Black 0.5pt solid">MRC GLOBAL INC.</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center; vertical-align: top"><P>(Name of Registrant as Specified In Its Charter)</P>

</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center; vertical-align: top; border-bottom: Black 0.5pt solid"><P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0; text-align: center">ENGINE CAPITAL, L.P.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0; text-align: center">ENGINE JET CAPITAL, L.P.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0; text-align: center">ENGINE LIFT CAPITAL, LP</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0; text-align: center">ENGINE CAPITAL MANAGEMENT, LP</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0; text-align: center">ENGINE CAPITAL MANAGEMENT GP, LLC</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0; text-align: center">ENGINE INVESTMENTS, LLC</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0; text-align: center">ENGINE INVESTMENTS II, LLC</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0; text-align: center">ARNAUD AJDLER</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0; text-align: center">BRADLEY T. FAVREAU</P>

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">DANIEL B. SILVERS</P>
</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center; vertical-align: top"><P>(Name of Persons(s) Filing Proxy Statement, if other than the Registrant)</P>

</TD></TR>
</TABLE>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Payment of Filing Fee (Check all boxes that apply):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top"><TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">&#9746;</TD><TD>No fee required</TD></TR></TABLE>



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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top"><TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">&#9744;</TD><TD>Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11</TD></TR></TABLE>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Engine Capital, L.P., together
with the other participants named herein (collectively, &ldquo;Engine&rdquo;), has filed a preliminary proxy statement and accompanying
<B>BLUE</B> universal proxy card with the Securities and Exchange Commission to be used to solicit votes for the election of its slate
of director nominees at the 2024 annual meeting of stockholders of MRC Global Inc., a Delaware corporation (the &ldquo;Company&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">On March 19, 2024, Engine
issued the following press release:</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center">Engine Nominates Two Highly Qualified Candidates for
Election to MRC Global&rsquo;s Board of Directors at the 2024 Annual Meeting</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>Believes it is Critical to Add Directors with
an Investor Mindset, and Capital Allocation and Financial Markets Experience </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>Underscores Engine&rsquo;s Repeated Attempts
to Avoid an Election Contest, Including by its Willingness to Settle for Reduced Board Representation </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NEW YORK, March 19, 2024 /Business Wire/ --&nbsp;Engine
Capital, L.P. (together with its affiliates, &quot;Engine&quot;), a significant shareholder of MRC Global Inc. (NYSE: MRC) (&quot;MRC&quot;
or the &quot;Company&quot;) and the owner of nearly 4.3% of the Company&rsquo;s outstanding common stock, today announced it has filed
a preliminary proxy statement with the U.S. Securities and Exchange Commission in connection with its nomination of two highly qualified
candidates for election to the Company&rsquo;s Board of Directors (the &ldquo;Board&rdquo;) at the 2024 Annual Meeting of Stockholders
(the &ldquo;Annual Meeting&rdquo;): Brad Favreau and Daniel Silvers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Arnaud Ajdler, Engine&rsquo;s Founder and Managing
Member, commented:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&ldquo;Engine has spent months engaging with MRC on
its current strategy, capital allocation approach and Board composition. In particular, we have highlighted to the Board the risks of
its stated M&amp;A strategy<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>1</SUP></FONT> and the importance
of adding at least one director with an investor mindset and significant capital allocation experience. While we have formally nominated
two directors to the Board, we want to emphasize that Engine made its candidates available for interviews and was willing to agree to
a framework that contemplated a single board seat to facilitate a resolution to benefit all stakeholders. Considering the size of our
ownership position and our significant concerns, it is disappointing the Company has resisted working with us. In our view, a Board that
owns de minimis stock should not be willing to spend stockholder capital to keep an investor-designee from serving on a nine-member Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We look forward to engaging with our fellow shareholders
on the case for adding stockholder-designees to MRC&rsquo;s boardroom. In the meantime, we would like to highlight the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD>MRC has struggled as a public company. The stock is down 42.4% since its initial public offering almost 12 years ago and has underperformed
its competitor DNOW Inc. over the last one-, three- and five-year periods.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>2</SUP></FONT></TD></TR></TABLE>

<HR ALIGN="LEFT" SIZE="1" STYLE="width: 5pc; margin-top: 12pt">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>1</SUP></FONT> <I>&ldquo;We would really like to get back to M&amp;A to grow this Company &hellip; this Company will now have more financial flexibility going into '24 than we will have had probably in our entire existence as a public company. And we will continue to scan the market for attractive M&amp;A for ways to profitably grow our business.&rdquo;</I> Chief Executive Officer Robert J. Saltiel, Jr., MRC 3Q 2023 earnings call, November 8, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>2</SUP></FONT> Source: CapitalIQ. Total shareholder returns as of market close on March 11, 2024.</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD>The Board has been unable to resolve its ongoing dispute with its Preferred Stockholder, Cornell Capital. This is preventing MRC from
fully optimizing its capital structure and harming financial flexibility.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD>Management&#8217;s plan to pursue an M&amp;A strategy is concerning. We believe the strategy is risky in the best of times, but especially
today given the current state of MRC&#8217;s capital structure, depressed multiple and undervaluation, and the high likelihood that the
Board will have to pay higher multiples for acquisition targets.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD>Chief Executive Officer Rob Saltiel does not have a successful track record of creating value through business acquisitions or integrations.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For these reasons (among others), we expected the
Board to be open to input from one of its largest stockholders to help ensure investor interests are prioritized. While this has not been
the case so far and forced us to make our concerns public today, it is still our hope to work constructively with the Board to resolve
this matter.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DIRECTOR CANDIDATE BIOS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>Brad Favreau</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Mr. Favreau is a representative of the nominating
stockholder and a seasoned investor with additive experience in finance, capital allocation, corporate governance and M&amp;A.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify">Current Partner at Engine Capital Management, a top MRC stockholder and value-oriented special situations
fund with a track record of helping companies implement value-enhancing initiatives, including M&amp;A transactions, operational and cost
improvements, and optimization of capital allocation policies.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify">Currently serves on the boards of directors of American Outdoor Brands, Inc. (NASDAQ: AOUT), an outdoor
products company, and MYR Group Inc. (NASDAQ: MYRG), a specialty electrical construction service providers holding company where he serves
on the compensation committee and the nominating, environmental, social and corporate governance committee.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify">Previously worked as an investment professional at Apax Partners, an international private equity investment
group, and as a member of the Mergers and Acquisitions group at UBS.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify">Previously served on the board of directors and audit committee of RDM Corporation (TSE:RC) a provider
of remote deposit capture software and various solutions, until its sale to the Deluxe Corporation.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>Daniel Silvers</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Mr. Silvers is an experienced investment manager,
former banker and public company director with significant capital allocation and M&amp;A expertise from his time serving in senior positions
at leading global asset managers.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify">Former Vice President at Fortress Investment Group LLC (formerly NYSE: FIG), a leading global alternative
asset manager, and former senior member of the real estate, gaming and lodging investment banking group at Bear, Stearns &amp; Co. Inc.
(formerly NYSE: BSC), a global financial services firm.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"></P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify">Former Chief Executive Officer and a director of Leisure Acquisition Corp. (NASDAQ: LACQ), a special purpose
acquisition company, former Executive Vice President and Chief Strategy Officer at Inspired Entertainment, Inc. (NASDAQ: INSE), a gaming
technology company, and current Executive Chairman of Winventory, Inc., a tech-enabled event ticketing management partner.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify">Current Managing Member of Matthews Lane Capital Partners LLC, an investment firm.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify">Previously served on the boards of directors of several public companies, including Avid Technology, Inc.
(NASDAQ: AVID), a global media technology provider where he served on the finance committee, compensation committee and as Chair of the
audit committee, PICO Holdings, Inc. (NASDAQ: PICO), a diversified holding company where he served on the compensation committee and corporate
governance and nominating committee, and Universal Health Services, Inc. (NYSE: UHS), a hospital management and health services company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>ABOUT ENGINE CAPITAL</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Engine Capital is a value-oriented special situations fund that invests
both actively and passively in companies undergoing change.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>CONTACT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><BR>
Engine Capital, L.P.<BR>
(212) 321-0048</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: blue">info@enginecap.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: blue">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Longacre Square Partners</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Charlotte Kiaie / Bela Kirpalani, 646-386-0091</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: blue">enginecapital@longacresquare.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">***</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CERTAIN INFORMATION CONCERNING THE PARTICIPANTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: red"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Engine Capital, L.P. (&ldquo;Engine Capital&rdquo;),
together with the other participants named herein (collectively, &ldquo;Engine&rdquo;), has filed a preliminary proxy statement and an
accompanying BLUE universal proxy card with the Securities and Exchange Commission (&ldquo;SEC&rdquo;) to be used to solicit votes for
the election of its slate of director nominees at the 2024 annual meeting of stockholders of MRC Global Inc., a Delaware corporation (the
 &ldquo;Company&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">ENGINE STRONGLY ADVISES ALL STOCKHOLDERS OF THE COMPANY
TO READ THE PROXY STATEMENT AND OTHER PROXY MATERIALS AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. SUCH PROXY
MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC&rsquo;S WEBSITE AT HTTP://WWW.SEC.GOV. IN ADDITION, THE PARTICIPANTS IN THIS PROXY
SOLICITATION WILL PROVIDE COPIES OF THE PROXY STATEMENT WITHOUT CHARGE, WHEN AVAILABLE, UPON REQUEST. REQUESTS FOR COPIES SHOULD BE DIRECTED
TO THE PARTICIPANTS&rsquo; PROXY SOLICITOR.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The participants in the proxy solicitation are expected
to be Engine Capital, Engine Jet Capital, L.P. (&ldquo;Engine Jet&rdquo;), Engine Lift Capital, LP (&ldquo;Engine Lift&rdquo;), Engine
Capital Management, LP (&ldquo;Engine Management&rdquo;), Engine Capital Management GP, LLC (&ldquo;Engine GP&rdquo;), Engine Investments,
LLC (&ldquo;Engine Investments&rdquo;), Engine Investments II, LLC (&ldquo;Engine Investments II&rdquo;), Arnaud Ajdler, Bradley T. Favreau
and Daniel B. Silvers (collectively, the &ldquo;Participants&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of the date hereof, Engine Capital directly beneficially
owns 3,013,102 shares of Common Stock, $0.01 par value per share (the &ldquo;Common Stock&rdquo;), of the Company. As of the date hereof,
Engine Jet directly beneficially owns 324,920 shares of Common Stock. As of the date hereof, Engine Lift directly beneficially owns 325,386
shares of Common Stock. Engine Management, as the investment manager of each of Engine Capital, Engine Jet and Engine Lift, may be deemed
the beneficial owner of the 3,663,408 shares of Common Stock owned directly by Engine Capital, Engine Jet and Engine Lift. Engine GP,
as the general partner of Engine Management, may be deemed the beneficial owner of the 3,663,408 shares of Common Stock owned directly
by Engine Capital, Engine Jet and Engine Lift. Engine Investments, as the general partner of each of Engine Capital and Engine Jet, may
be deemed the beneficial owner of the 3,338,022 shares of Common Stock owned directly by Engine Capital and Engine Jet. Engine Investments
II, as the general partner of Engine Lift, may be deemed the beneficial owner of the 325,386 shares of Common Stock owned directly by
Engine Lift. Mr. Ajdler, as the Managing Partner of Engine Management, and the Managing Member of each of Engine GP, Engine Investments
and Engine Investments II, may be deemed the beneficial owner of the 3,663,408 shares of Common Stock directly owned by Engine Capital,
Engine Jet and Engine Lift. As of the date hereof, neither Messrs. Favreau nor Silvers beneficially owned any shares of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">###</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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