Company: TNRSF
Filing Date: 2025-08-01
Form Type: 6-K
Source: 0001171843-25-004951
Chunk: 32

Company: TENARIS SA
Filing Date: 2025-08-01
Form: 6-K
Chunk 32
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 purposes of carrying out each tranche
of the third share buyback program, the Company entered into a non-discretionary buyback agreement with a primary financial institution,
which makes trading decisions concerning the timing of the purchases of the Company’s shares independently of and uninfluenced by
Tenaris and acts in compliance with applicable rules and regulations, including the Market Abuse Regulation 596/2014 and the Commission
Delegated Regulation (EU) 2016/1052.

During the six-month period ended June 30, 2025, the Company purchased 12,277,261 shares, for
approximately $235 million under the second share buyback program and purchased 13,094,268 shares, for approximately $237 million under
the third share buyback program.

During the six-month period ended June 30, 2024, the Company purchased 48,873,790 shares, for
approximately $831 million (out of which approximately $803 million were paid).

As of June 30, 2025, the Company held in treasury the 13,094,268 ordinary shares repurchased
under the third share buyback program. The Company intends to cancel all treasury shares purchased under the third share buyback program
in due course.

As of June 30, 2025, and December 31, 2024, the Company held a liability in connection to the
treasury shares to be settled under the corresponding share buyback programs, which amounted to $363.3 million and $243.3 million, respectively,
valued at fair value.

Further information on the share buyback programs and share repurchases thereunder is available
on Tenaris’s corporate website under the Share Buyback Program Section.

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| Half-year report 2025 - Interim management report |

#### Related Party Transactions
Tenaris is a party to several related party transactions which include, among others, purchases
and sales of goods (including steel pipes, flat steel products, steel bars, raw materials, gas and electricity) and services (including
engineering services and related services) from or to entities controlled by San Faustin S.A., or in which San Faustin holds significant
interests. Material related party transactions are subject to the review of the audit committee of the Company’s board of directors
and the requirements of the Company’s articles of association and Luxembourg law. For further detail on Tenaris’s related
party transactions, see note 22 “Related party transactions” to our unaud