Company: TNRSF
Filing Date: 2025-05-01
Form Type: 6-K
Source: 0001171843-25-002694
Chunk: 23

Company: TENARIS SA
Filing Date: 2025-05-01
Form: 6-K
Chunk 23
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 an offer at that price plus interest. If so ordered, the offer would need to be made to 182,609,851 ordinary shares of Usiminas
not belonging to Usiminas’ control group. Confab’s share in the offer would be 17.9%.

On September 23, 2013, the first instance court dismissed the CSN lawsuit,
and on February 8, 2017, the court of appeals maintained the understanding of the first instance court. On August 18, 2017, CSN filed
an appeal to the Superior Court of Justice (“SCJ”) seeking the review and reversal of the decision issued by the Court of
Appeals. On September 10, 2019, the SCJ declared CSN’s appeal admissible. On March 7, 2023, the SCJ, by majority vote, rejected
CSN’s appeal.

| 19 |

CSN made several submissions in connection with the SCJ March 7, 2023 decision,
including a motion for clarification that challenged the merits of the SCJ decision. Decisions at the SCJ are adopted by majority vote.
At an October 17, 2023 session, two justices of the SCJ voted in favor of remanding the case to the first instance for it to be retried
following production and assessment of the new evidence, and two justices of the SCJ voted, without requiring any further evidence, in
favor of granting CSN’s motion for clarification and reversing the March 7, 2023 decision that rejected CSN’s appeal; because
the fifth member of SCJ excused himself from voting, a justice from another panel at the SCJ was summoned to produce the tie-breaking
vote. On June 18, 2024, the SCJ completed its voting on CSN’s motion for clarification and reversed, by majority vote, its March
7, 2023 decision, and resolved that Confab and the three subsidiaries of Ternium should pay CSN an indemnification in connection with
the acquisition by the T/T Group of a participation in Usiminas in January 2012, with CSN being allowed to retain ownership of the Usiminas
ordinary shares it currently owns.

On August 1, 2024, Confab and the other T/T Group entities filed a motion
for clarification against the SCJ decision and, subsequently, CSN filed its reply. On December 6, 2024, the SCJ