Company: TNRSF
Filing Date: 2025-02-21
Form Type: 6-K
Source: 0001171843-25-000987
Chunk: 113

Company: TENARIS SA
Filing Date: 2025-02-21
Form: 6-K
Chunk 113
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 Consolidated Financial Statements                                                                           |
| For the years ended 2024, 2023 and 2022 - all amounts in thousands of U.S. dollars, unless otherwise stated |

| 37 | Events after the reporting period |

Recently Announced 25% Tariff on Steel Imports in the United States

On February 1, 2025, the U.S. government announced the imposition of flat
tariffs applicable to all products imported from Mexico and Canada, but subsequently suspended the effectiveness of such tariffs for one
month.

On February 10, 2025, the U.S. government announced changes to the tariffs
applicable to imported steel products, including those produced and sold by the Company, effective March 12, 2025. If they enter into
effect, the changes would impose a 25% tariff on virtually all steel imports, including certain downstream (“derivative”)
products. Exclusions that currently exempt specific products and countries from the existing tariffs would end under the announced
plan.

On February 13, 2025, President Trump announced that he will take executive
action in the future to implement a reciprocal tariff scheme, without providing any further details.

The announced tariffs on steel imports and any future reciprocal tariffs
could affect market prices and dynamics, supply chains, and cost structures. However, implementation is still uncertain. Negotiations
between trading partners on this matter are also not unlikely. The potential for litigation or international retaliation introduces further
uncertainties. In this context, the Company is unable at this time to predict the evolution or ultimate outcome of these developments,
or to quantify the impact that the announced measures, if maintained, would have on its business or financial condition.

Annual Dividend Proposal

Upon approval of the Company´s annual accounts on April 1, 2025,
the Board of Directors intends to propose, for the approval of the Annual General Shareholders' meeting to be held on May 6, 2025, the
payment of an annual dividend of $0.83 per outstanding share ($1.66 per ADS), or approximately $0.9 billion, which includes the interim
dividend of $0.27 per outstanding share ($0.54 per ADS) or approximately $0.3 billion, paid on November 20, 2024. If the annual dividend
is approved by the shareholders, a dividend of $0.56 per outstanding share ($1.12 per ADS), or approximately $0.6 billion will be paid
on May 21