Company: TNRSF
Filing Date: 2025-05-07
Form Type: 6-K
Source: 0001171843-25-002907
Chunk: 5

Company: TENARIS SA
Filing Date: 2025-05-07
Form: 6-K
Chunk 5
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 board
of directors, may from time to time, for a period starting on the date of the Extraordinary General Meeting of Shareholders held on 6
May 2025 and ending on the fifth anniversary of the date of the publication in the Recueil électronique des sociétés
et associations (RESA) of the deed recording the minutes of such Extraordinary General Meeting of Shareholders, issue shares within the
limits of the authorized share capital against contributions in cash, contributions in kind or by way of incorporation of available reserves
at such times and on such terms and conditions, including the issue price, as the board of directors, or its delegate (s), may in its
or their discretion resolve.

The Extraordinary General Meeting of Shareholders held on 6
May 2025 has authorized the board of directors, for a period starting on the date of such Extraordinary General Meeting of Shareholders
and ending on the fifth anniversary of the date of the publication in the RESA of the deed recording the minutes of such Extraordinary
General Meeting of Shareholders, to waive, suppress or limit any preemptive subscription rights of shareholders provided for by law to
the extent it deems such waiver, suppression or limitation advisable for any issue or issues of shares within the authorized share capital,
and has waived any pre-emptive subscription rights provided for by law and related procedures.

Notwithstanding the waiver of any preemptive subscription rights provided
for by law and related procedures, by provision of the present Articles of Association, any issuance of shares for cash within the limits
of the authorized share capital shall be subject to the pre-emptive subscription rights of the then existing shareholders, except in the
following cases (in which cases no pre-emptive subscription rights shall apply):

| (i) | any issuance of shares (including, without limitation, the direct issuance of shares or upon the exercise                                
 of options, rights convertible into shares, or similar instruments convertible or exchangeable into shares) against a contribution other 
 than in cash; and                                                                                                                        |

| (ii) | any issuance of shares (including by way of free shares or at discount), up to an amount of 1.5% of the                                     
 issued share capital of the Company, to directors, officers, agents, employees of the Company, its direct or indirect subsidiaries, or      
 its affiliates (collectively, the “Beneficiaries”), including, without limitation, the direct issuance of shares or upon the                
 exercise of options, rights convertible into