Company: TNRSF
Filing Date: 2025-04-01
Form Type: 20-F
Source: 0001554855-25-000262
Chunk: 4

Company: TENARIS SA
Filing Date: 2025-04-01
Form: 20-F
Item: Item 17
Chunk 4
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 Safety, and Environment.

“ QMS” refers to the Quality Management System.

“ R& D” refers to research and development.

“ RCP” refers to the Representative Concentration Pathway.

“ SAR” refers to the Saudi Arabian Riyal.

“ SEC” refers to the U. S Securities and Exchange Commission.

“shares” refers to ordinary shares, par value $1.00, of the Company.

“tons” refers to metric tons; one metric ton is equal to 1,000 kilograms, 2,204.62 pounds, or 1.102 U. S. (short) tons.

“ UK” refers to the United Kingdom.

“ U. S. dollars”, “ US$”, “ USD” or “$” each refe

rs to the United States dollar.

  13  

  Annual Report 2024  

PRESENTATION OF CERTAIN FINANCIAL AND OTHER INFORMATION

Accounting Principles

We prepare our consolidated financial statements in accordance with International Financial Reporting Standards(“ IFRS” or “ IFRS Accounting Standards”), as issued by the International Accounting Standards Board(“ IASB”), and in accordance with IFRS, as adopted by the EU. IFRS differs in certain significanta spects from generally accepted accounting principles in the United States, commonly referred to as U. S. GAAP. Additionally, this annual report includes certain non-IFRS alternative performance measures such as EBITDA, Net cash/debt position and Free Cash Flow. See Exhibit15.2 for more details on these alternative performance measures.

We publish consolidated financial statements presented in increments of a thousand U. S. dollars. This annual report includes our audited consolidated statements of financial position as of 31 December 2024 and 2023, and the related consolidated income statements, consolidated statements of comprehensive income, consolidated statements of changes in equity and consolidated statements of cash flows for each of the three years in the period ended 31 December 2024, including the related notes (collectively referred to as the “consolidated financial statements”).

Rounding

Certain monetary amounts, percentages and other figures included in this annual report have been subject to rounding adjustments. Accordingly, figures shown as totals in certain tables may not be the arithmetic aggregation of the figures that precede them, and figures expressed as percentages in the text may not total 100% or, as applicable, when aggregated may not be the arithmetic aggregation of the percentages that precede them.

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