Company: TNRSF
Filing Date: 2025-04-01
Form Type: 20-F
Source: 0001554855-25-000262
Chunk: 6

Company: TENARIS SA
Filing Date: 2025-04-01
Form: 20-F
Item: Item 17
Chunk 6
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 identify forward-looking statements, but they are not the only way we identify such statements. All forward-looking statements are management’s present expectations of future events and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These factors include the risks related to our business and industry discussed under “ Risk Factors”, including among them, the following:

our ability to implement our business strategy

and to adapt it adequately to the energy transition

;

our ability

to grow through acquisitions, joint ventures and other investments, or integrate newly acquired businesses or assets;

our ability to provide value added

products and services

and price such products and services

in accordance with our strategy;

trends in the levels of investment in oil and gas exploration and drilling worldwide;

the competitive environment

or level of consolidation

in our business and our industry;

the impact of climate change legislation,

including

increasing regulatory requirements and extensive technology and market changes aimed at transitioning to a lower-carbon economy and reducing greenhouse gas (“ GHG”)

emissions

;

the physical risks resulting from climate change, including

natural disasters,

increased severity of extreme weather events

, chronic climate changes

and long-te

rm shifts in weather patterns;

our ability to absorb cost increases and to secure supplies of essential raw materials and energy

;

our ability to adjust fixed and semi-fixed costs to

fluctuations in product demand;

the impact of

the world’s economy on

the energy sector in general, or our business and operations;

general macroeconomic

conditions

, including renewed inflation or

high inflation rates

, infla

tion

containment measures and foreign exchange measures

,

as well as

,

international conflicts,

public health

epidemics

and other

political, social, or economic

conditions and developments in the countries in which we operate or distribute pipes

,

including developments in connection with the Russia-Ukraine war

and Middle East

armed

conflict

s

;

and

changes to applicable laws and regulations, including the imposition of recent or additional tariffs or quotas or other trade barrier

s

.

  15  

  Annual Report 2024  

By their nature, certain disclosures relating to these and other risks are only estimates and could be materially different from what actually occurs in the future. As a result, actual future gains or losses or other occurrences or developments that may affect our financial condition and results of operations could differ materially from those that have been estimated. You should not place undue reliance