Company: TNRSF
Filing Date: 2025-08-01
Form Type: 6-K
Source: 0001171843-25-004943
Chunk: 7

Company: TENARIS SA
Filing Date: 2025-08-01
Form: 6-K
Chunk 7
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 1,616,597 |   |
| Effect of exchange rate changes                                                              |     |             |       |                                 |      (2,768 | ) |     |     |    (20,158 | ) |
| Decrease in cash and cash equivalents                                                        |     |             |       |                                 |     (86,538 | ) |     |     |   (747,744 | ) |
| At June 30,                                                                                  |     |             |       |                                 |     571,492 |   |     |     |    848,695 |   |
|                                                                                              |     |             |       |                                 | At June 30, |   |     |     |            |   |
| Cash and cash equivalents                                                                    |     |             |       |                                 |        2025 |   |     |     |       2024 |   |
| Cash and bank deposits                                                                       |     |             |       |                                 |     572,289 |   |     |     |    850,236 |   |
| Bank overdrafts                                                                              |     |             |       |                                 |        (797 | ) |     |     |     (1,541 | ) |
|                                                                                              |     |             |       |                                 |     571,492 |   |     |     |    848,695 |   |

Changes in working capital do not include non-cash movements
due to the variations in the exchange rates used by subsidiaries with functional currencies different from the U.S. dollar for an amount
of $36.7 million for the six-month period ended June 30, 2025 and $(11.1)
million for the six-month period ended June 30, 2024.

For the six-month period ended June 30, 2025, related to
the deconsolidation of Amaja Tubular Services Limited.

For the six-month period ended June 30, 2024, related
to Mattr’s pipe coating business unit acquisition.

The accompanying notes are an integral part of these Consolidated Condensed
Interim Financial Statements.

These Consolidated Condensed Interim Financial Statements should be read
in conjunction with our audited Consolidated Financial Statements and notes for the fiscal year ended December 31, 2024.

| 6 |

NOTES TO THE CONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS

| 1  | General information                                                                  |
| 2  | Accounting policies and basis of