Company: TNRSF
Filing Date: 2025-02-21
Form Type: 6-K
Source: 0001171843-25-000987
Chunk: 110

Company: TENARIS SA
Filing Date: 2025-02-21
Form: 6-K
Chunk 110
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 the program, 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.

This follow-on share buyback program will cover
up to $700 million (excluding incidental transaction fees), subject to a maximum of 46,373,915 ordinary shares representing the remainder
3.93% of the Company’s issued share capital (measured also as at the launch of the first share buyback program), to complete the
maximum of 10% of the share capital that may be repurchased by the Company).

During the year ended December 31, 2024, the Company purchased 83,616,548
shares, for $1,441.8 million (net of a performance amount of $7.4 million), out of which, $1,439.6 were
paid. During the year ended December 31, 2023, the Company purchased 12,648,091 shares, for a value
of $213.7 million (net of a performance amount of $0.7 million) out of which, $213.7 were paid.

For purposes of carrying out the second share buyback program, Tenaris
entered into non-discretionary buyback agreement with a primary financial institution that will make trading decisions concerning the
timing of the purchases of Tenaris’s ordinary shares independently of and uninfluenced by Tenaris and will act in compliance with
applicable rules and regulations, including the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052.

On April 30, 2024, the extraordinary shareholders meeting approved the
cancellation of 17,779,302 ordinary shares held in treasury by the Company, which had been acquired
throughout the first tranche of the first share buyback program, and resolved to approve the corresponding reduction of the issued share
capital of the Company and the corresponding amendment of the first paragraph of article 5 of the Company’s articles of association.
As a result, effective April 30, 2024, the share capital of the Company was reduced from $1,180,536,830 (represented by 1,180,536,830
shares with a par value of $1 per share) to $1,162,757,528 (represented by 1,162,757,528 shares with a par value of $1 per share).

As of