Company: TNRSF
Filing Date: 2025-02-21
Form Type: 6-K
Source: 0001171843-25-000987
Chunk: 112

Company: TENARIS SA
Filing Date: 2025-02-21
Form: 6-K
Chunk 112
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 investment plan to build a second wind farm in Argentina
at a cost of approximately $214 million, which would supply a further 30% of the current energy requirements of its facilities in Campana.

Tenaris encourages the use of sustainable practices among its suppliers
and, in March 2023, it adopted a Sustainable Sourcing Policy to enhance its efforts in this area. The new Sustainability Sourcing Policy
will help Tenaris to understand better the real emission levels of its suppliers and identify opportunities for improvement in line with
its reduction target.

The medium-term target forms part of a broader objective of decarbonizing
the Company’s operations and reaching carbon neutrality. At the same time, the Company is increasing its sales for low-carbon energy
applications, such as hydrogen, geothermal and carbon capture and storage. These sales currently account for a relatively small proportion
of overall sales but are expected to grow in the coming years.

In its assessment of climate change and energy transition potential impact
on operations, Tenaris also considers that the countries in which it operates and its customers are also establishing their own decarbonization
strategies and objectives, and that some customers are requesting specific information from their suppliers, including Tenaris, concerning
the carbon emissions and Environmental, Social and Governance (“ESG”) practices in their supply chain, and that they may adjust
their supply practices in light of that information.

The recoverable value assessments performed by the Company for purposes
of the preparation of these financial statements reflects management’s views on the energy transition and climate change and their
potential medium- and long-term impact on Tenaris’s operations and its sales. In addition, the Company carefully monitors the medium-
and long-term outlook scenarios published by leading industry experts on how the energy transition could affect global demand for energy
and oil and gas and how this could affect the global demand for tubular products and its sales. Furthermore, estimates and assumptions
used in the Company’s impairment tests over long-lived assets and goodwill, useful lives of assets, capital and research and development
expenditures, inventory valuation, recovery of deferred tax assets and provisions, and contingent liabilities are based on available information
and current government regulations on energy transition and climate-related matters, as well as on Tenaris’s current short-term
investment plans. As of the date of these financial statements, the Company does not believe that climate-related matters should trigger
any material adjustments to the conclusions of its impairment tests or the valuation of the above mentioned areas.

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