Company: TNRSF
Filing Date: 2025-05-01
Form Type: 6-K
Source: 0001171843-25-002694
Chunk: 37

Company: TENARIS SA
Filing Date: 2025-05-01
Form: 6-K
Chunk 37
---
 ordinary shares independently of and uninfluenced by Tenaris and acted in compliance with applicable
rules and regulations, including the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052.

During the first share buyback program, which was divided into four tranches
and ran from November 5, 2023, to (and including) August 2, 2024, the Company purchased 71,679,768
ordinary shares, representing 6.07% of the Company’s issued share capital at the beginning of the program, for a total consideration
of approximately $1.2 billion (excluding incidental transaction fees).

Second Share Buyback Program

On November 6, 2024, the Company’s board of directors approved a
follow-on share buyback program of up to $700 million (excluding incidental transaction fees), subject to a maximum of 46,373,915 ordinary
shares, representing the remaining 3.93% of the Company’s issued share capital (measured as of 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, with the intention to cancel the
shares acquired through the program. The share buyback program was carried out under the authority granted by the annual general meeting
of shareholders held on June 2, 2020, to repurchase up to a maximum of 10% of the Company’s shares.

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

The second share buyback program ran from November 11, 2024, to (and including)
March 4, 2025. During the follow-on share buyback program, the Company repurchased 36,862,132 ordinary shares, representing 3.12% of the
Company’s issued share capital as measured at the beginning of the first program, for a total consideration of approximately $700
million (excluding incidental transaction fees).

During the three-month period ended March 31, 2025, the Company purchased