Company: TNRSF
Filing Date: 2025-08-01
Form Type: 6-K
Source: 0001171843-25-004943
Chunk: 29

Company: TENARIS SA
Filing Date: 2025-08-01
Form: 6-K
Chunk 29
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 claimed that the Veracel accident was caused by failures and defects attributable to the evaporation
system manufactured by Confab. Confab believes that the Veracel accident was caused by the improper handling by Veracel’s personnel
of the equipment supplied by Confab in violation of Confab’s instructions. The two lawsuits were consolidated and are considered
by the 6 Civil Court of São Caetano do Sul. However, each lawsuit will be adjudicated separately.

On September 28, 2018, Confab and Chubb entered into a settlement agreement
pursuant to which on October 9, 2018, Confab paid an amount of approximately $3.5 million to Chubb, without assuming any liability for
the accident or the claim.

On October 10, 2018, Confab was notified that the court had issued rulings
for both lawsuits. Both decisions were unfavorable to Confab:

| § | With respect to Chubb’s claim, the court subsequently homologated the above-mentioned settlement 
 and, accordingly, the claim was finalized.                                                       |

| 20 |

| § | With respect to Veracel’s claim, Confab was ordered to pay the insurance deductible and other concepts                                   
 not covered by insurance, currently estimated to amount to BRL116.8 million (approximately $21.4                                         
 million) including interest, fees and expenses. Both parties filed motions for clarification against the court’s decision, which         
 were partially granted. Although the contract between Confab and Veracel expressly provided that Confab would not be liable for damages  
 arising from lost profits, the court award would appear to include BRL100.2 million (approximately $18.4                                 
 million) of damages arising therefrom. Confab has additional defense arguments in respect of a claim for lost profits. On December 18,   
 2018, Confab filed an appeal against the first instance court decision, and on April 30, 2019, Veracel filed its response to the appeal. 
 In June 2022, the court resolved that it lacked jurisdiction to decide on the appeal, which was re-allocated to another court. On August 
 26, 2024, the court issued a decision rejecting certain procedural objections and ordering that new expert evidence be produced. As a    
 result, the trial was redirected to the first instance court for new technical evidence to be produced by a new expert. On September 9,  
 2024, Verac