Company: TNRSF
Filing Date: 2025-02-21
Form Type: 6-K
Source: 0001171843-25-000987
Chunk: 33

Company: TENARIS SA
Filing Date: 2025-02-21
Form: 6-K
Chunk 33
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ily redeemed by the Company seven years after grant date.

The beneficiaries of the Program are entitled to receive cash amounts based
on: (i) the amount of dividend payments made by Tenaris to its shareholders and (ii) the number of units held by each beneficiary to the
Program. The payment of the benefit is tied to the book value of the shares, and not to their market value. Tenaris valued this long-term
incentive program as a long-term benefit plan as classified in IAS 19, “Employee Benefits”.

As of December 31, 2024 and 2023, the outstanding liability corresponding
to the Program amounts to $148.0 million and $119.6 million, respectively. The total value of the units granted (vested and unvested)
to date under the program, considering the number of units and the book value per share as of December 31, 2024 and 2023, is $175.0 million
and $144.0 million, respectively.

| (4) | Termination benefits |

Termination benefits are payable when employment is terminated by Tenaris
before the normal retirement date, or when an employee accepts voluntary redundancy in exchange for these benefits. Tenaris recognizes
termination benefits at the earlier of the following dates: (a) when it can no longer withdraw the offer of those benefits; and (b) when
the costs for a restructuring that is within the scope of IAS 37 involves the payment of terminations benefits. In the case of an offer
made to encourage voluntary redundancy, the termination benefits are measured based on the number of employees expected to accept the
offer.

| (5) | Other compensation obligations |

Employee entitlements to annual leave, long-service leave, sick leave and
other bonuses and compensations obligations are accrued as earned.

Compensation to employees in the event of dismissal is charged to income
in the year in which it becomes payable.

#### QProvisions
Tenaris is subject to various claims, lawsuits and other legal proceedings,
including customer claims, in which a third party is seeking payment for alleged damages, reimbursement for losses or indemnity. Tenaris’s
potential liability with respect to such claims, lawsuits and other legal proceedings cannot be estimated with certainty. Management periodically
reviews the status of each significant matter and assesses potential financial exposure. If, as a result of past events, a potential loss
from a claim or proceeding is considered probable and the amount can be reliably estimated, a provision is recorded