Company: TNRSF
Filing Date: 2025-02-21
Form Type: 6-K
Source: 0001171843-25-000987
Chunk: 84

Company: TENARIS SA
Filing Date: 2025-02-21
Form: 6-K
Chunk 84
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 Other                                     |     |                         |   23,633 |   |     |      |      477 |   |
| At the end of the year                    |     |                         | (102,653 | ) |     |      | (134,052 | ) |

(*)For the years 2024 and 2023, related to Mattr’s pipe coating business unit acquisition. For more information see note 34.

| - 57 - |

| Consolidated Financial Statements                                                                           |
| For the years ended 2024, 2023 and 2022 - all amounts in thousands of U.S. dollars, unless otherwise stated |

The major categories of plan assets as a percentage of total plan assets are as follows:

|                    |     | Year ended December 31, | 2024 |   |     |     | 2023 |   |
|:-------------------|:----|:------------------------|-----:|:--|:----|:----|-----:|:--|
| Equity instruments |     |                         |    3 | % |     |     |   18 | % |
| Debt instruments   |     |                         |   60 | % |     |     |   33 | % |
| Others (*)         |     |                         |   37 | % |     |     |   49 | % |

(*)For the years 2024 and 2023, mainly include annuities purchased from an insurance company for the benefit of current and future retirees.

There are no unusual, entity-specific, or plan-specific risks in terms of the plan assets of
funded pension plans.

The actuarial assumptions for the most relevant plans were as follows:

|                               |     | Year ended December 31, 
 2024                    |     | 2023    |
|:------------------------------|:----|:------------------------|:----|:--------|
| Discount rate                 |     | 5% - 6%                 |     | 5% - 5% |
| Rate of compensation increase |     | 3% - 3%                 |     | 0% - 3% |

The expected return on plan assets is determined by considering the expected
returns available on the assets underlying the current investment policy. Expected return on plan assets is determined based on long-term,
prospective rates of return as of the end of the reporting period.

As of December 31, 2024, an increase / (decrease)