Company: TNRSF
Filing Date: 2025-02-21
Form Type: 6-K
Source: 0001171843-25-000987
Chunk: 23

Company: TENARIS SA
Filing Date: 2025-02-21
Form: 6-K
Chunk 23
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lease. If that rate cannot be determined, the lessee’s incremental borrowing rate is used, being the rate that the lessee would
have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment with similar terms and
conditions.

Right-of-use assets are measured at cost comprising the amount of the initial
measurement of the lease liability, any lease payments made at or before the commencement date less any lease incentives received and
any initial direct costs incurred by the lessee.

In determining the lease term, management considers all facts and circumstances
that create an economic incentive to exercise an extension option or early termination, or not to exercise a termination option. Extension
options (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be extended (or
not terminated).

Payments associated with short-term leases, variable leases and leases
of low value assets are recognized on a straight-line basis as expenses in profit or loss. Short-term leases are leases with a lease term
of 12 months or less.

#### HImpairment of non-financial assets
Long-lived assets including identifiable intangible assets are reviewed
for impairment at the lowest level for which there are separately identifiable cash flows, or CGU. Most of the Company’s principal
subsidiaries that constitute a CGU have a single main production facility and, accordingly, each of such subsidiaries represents the lowest
level of asset aggregation that generates largely independent cash inflows.

Assets that are subject to amortization or depreciation are reviewed for
impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Intangible assets with
indefinite useful lives, including goodwill, are subject to at least an annual impairment test, or are tested more frequently if events
or circumstances indicate that the carrying amount value may be impaired. In some situations where there have not been significant changes
to CGU assets and liabilities as well as external and internal events and circumstances which could materially alter the recoverable amount
of the CGU, the most recent detailed calculation of recoverable amount made in a preceding period may be used in the impairment test for
that CGU in the current period.

For purposes of assessing key assumptions, the Company uses external sources
of information and management judgment based on past experience and expectations. Material facts and circumstances specifically considered
in the analysis usually include the discount rate used in Tenaris’s cash flow projections and the business condition in terms of
competitive, economic and