Company: TNRSF
Filing Date: 2025-08-01
Form Type: 6-K
Source: 0001171843-25-004951
Chunk: 72

Company: TENARIS SA
Filing Date: 2025-08-01
Form: 6-K
Chunk 72
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,026 | ) |
|      | Lease liabilities from other related        
 parties                                     |     |             |       (216 | ) |     |                 |    (260 | ) |
|      |                                             |     |             |     (1,247 | ) |     |                 |  (1,286 | ) |

In addition to the tables above, the Company issued various guarantees
in favor of Techgen; for further details, see note 17 (c) and note 18
(ii). No other material guarantees were issued in favor of other related parties.

| 49 |

| 23 | Share Buyback Programs |

First Share Buyback Program

On November 1, 2023, the Company’s board of directors approved a
share buyback program of up to $1.2 billion, to be executed within a year, with the intention to cancel the ordinary shares acquired through
the program. The share buyback program was carried out under the authority granted by the annual general meeting of shareholders held
on June 2, 2020, up to a maximum of 10% of the Company’s shares.

For purposes of carrying out each tranche of the first share buyback program,
the Company entered into non-discretionary buyback agreements with primary financial institutions that made trading decisions concerning
the timing of the purchases of the Company’s ordinary shares independently of and uninfluenced by Tenaris and acted in compliance
with applicable rules and regulations, including the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052.

During the first share buyback program, which was divided into four tranches
and ran from November 5, 2023, to (and including) August 2, 2024, the Company repurchased 71,679,768
ordinary shares, representing 6.07% of the Company’s issued share capital as measured at the beginning of the first program, for
a total consideration of approximately $1.2 billion (excluding incidental transaction fees).

The shares acquired during the first tranche of the first share buyback
program were cancelled at the extraordinary shareholders meeting held on April 30, 2024, and the remaining shares acquired during the
second, third and fourth tranches of the first share buyback program were cancelled at the extraordinary shareholders meeting held on
May 6, 2025, as further described below.

Second Share Buyback Program

On November 6, 202