Company: TNRSF
Filing Date: 2025-10-30
Form Type: 6-K
Source: 0001171843-25-006841
Chunk: 14

Company: TENARIS SA
Filing Date: 2025-10-30
Form: 6-K
Chunk 14
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| Fixed Income (time-deposit, zero coupon bonds, commercial papers) |     |                  |     80,000 |     |                 |   140,292 |
| Others                                                            |     |                  |      7,156 |     |                 |     7,049 |
|                                                                   |     |                  |    830,937 |     |                 | 1,005,300 |

As of September 30, 2025, Other Investments – non-current includes financial assets with a carrying amount of $101.1 million that are subject to a lending agreement with a financial institution. Under applicable contractual terms, Tenaris retains substantially all the risks and rewards of ownership of the financial assets and has not received any collateral in connection to them. The fee received is recognized as a gain within financial results, as interest income.

| 15 | Derivative financial instruments |

|                                                |     | At September 30, |            |     | At December 31, |       |
|                                                |     |             2025 |            |     |            2024 |       |
|                                                |     |                  | -Unaudited |     |                 |       |
| Derivatives hedging borrowings and investments |     |                  |      1,053 |     |                 |     - |
| Other derivatives                              |     |                  |      3,424 |     |                 | 7,484 |
| Contracts with positive fair values            |     |                  |      4,477 |     |                 | 7,484 |
| Derivatives hedging borrowings and investments |     |                  |      3,232 |     |                 |     - |
| Other derivatives                              |     |                  |      5,767 |     |                 | 8,300 |
| Contracts with negative fair values            |     |                  |      8,999 |     |                 | 8,300 |

Other derivatives include contracts which are designated to hedge positions other than borrowings and investments.

| 15 |

| 16 | Category of financial instruments and classification within the fair value hierarchy |

The following table illustrates the three hierarchical levels for valuing financial instruments at fair value and those measured at amortized cost as of September 30, 2025, and December 31, 2024.

| September 30, 2025 - (Unaudited)                                  |     | Carrying 
 amount   |           |     | Measurement Categories 
 Amort