Company: TNRSF
Filing Date: 2025-10-30
Form Type: 6-K
Source: 0001171843-25-006841
Chunk: 35

Company: TENARIS SA
Filing Date: 2025-10-30
Form: 6-K
Chunk 35
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), to be executed within a year, with the intention to cancel the ordinary shares acquired through the program. The third share buyback program is carried out under the authority granted by the annual general meeting of shareholders held on May 6, 2025, up to a maximum of 10% of the Company’s shares.

The third share buyback program is divided into tranches. The first tranche of the program covered up to $600 million (excluding incidental transaction fees) and was intended to run from June 9, 2025, to (and including) December 8, 2025, but was completed on September 30, 2025. Ordinary shares purchased under the third share buyback program are intended to be cancelled in due course. For purposes of carrying out each tranche of the third share buyback program, the Company entered into a non-discretionary buyback agreement with a primary financial institution, which makes trading decisions concerning the timing of the purchases of the Company’s shares independently of and uninfluenced by Tenaris and acts in compliance with applicable rules and regulations, including the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052.

As of September 30, 2025, the first tranche of the third share buyback program was completed. Under this tranche the Company acquired a total of 33,059,955 ordinary shares, out of which 32,401,871 were settled and are held as treasury shares for approximately $588 million.

As of September 30, 2025, the Company recognized a credit of $16 million related to the performance amount to be collected from the financial institution and held a liability in connection to the shares to be settled, which amounted to $12 million valued at amortized cost.

During the nine-month period ended September 30, 2025, the Company settled the purchase of 12,277,261 shares for approximately $235 million under the second share buyback program and 32,401,871 shares for approximately $588 million under the third share buyback program.

Comparatively, during the nine-month period ended September 30, 2024, the Company settled the purchase of 59,031,677 shares for approximately $985.1 million.

Further information on the share buyback programs and share repurchases thereunder is available on Tenaris’s corporate website under the Share Buyback Program Section.

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