Company: TNRSF
Filing Date: 2025-02-21
Form Type: 6-K
Source: 0001171843-25-000987
Chunk: 100

Company: TENARIS SA
Filing Date: 2025-02-21
Form: 6-K
Chunk 100
---
 plots, with a total surface of 811,284 square meters, are located in Dammam, Saudi Arabia, and were purchased from a private entity on February 2010, pursuant to a written purchase agreement duly executed by SSPC in full compliance with the laws of the Kingdom of Saudi Arabia. The purchase of the land occurred before Tenaris’s acquisition of a 47.79% interest in SSPC in 2019. The affected plots are not part of the production facility of SSPC, have been partially used as a warehouse, and have a carrying value on Tenaris’s financial statements of $56.2 million.

As of the date hereof, neither the cancellation nor the court order have
been notified to SSPC or otherwise been made public by the authorities, and the legal basis for the court order is unknown. On May 4,
2021, SSPC filed a petition with an ad-hoc created special committee at the Saudi Ministry of Justice, seeking to have its title deeds
reinstated. At this time, it is not possible to predict the outcome of this matter.

#### 29Foreign exchange control measures in Argentina
Between September 2019 and December 13, 2023, the Argentine government
imposed significant restrictions on foreign exchange transactions. Although after a new administration took office in Argentina in December
2023 certain restrictions were eased and other changes to such regulations are expected, at the date of these Consolidated Financial Statements
the application of existing foreign exchange regulations remains uncertain, and the scope and timing of upcoming changes remain unknown.
The main currently applicable measures are described below:

| - 66 - |

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

| § | Access to the MULC to make dividend payments requires prior Argentine Central Bank approval. When required, 
 Argentine Central Bank approvals are rarely, if ever, granted.                                              |

The above-described measures substantially limit the ability of Argentine
companies to obtain foreign currency and make certain payments and distributions out of Argentina through the MULC at the official exchange
rate.

Access to foreign currency and transfers out of Argentina can be achieved,
however, through securities transactions involving bonds or shares with multiple listings, resulting in a different implicit exchange
rate, generally higher than the official exchange rate. Such transactions are subject to certain restrictions and limits, which change
from time to time, and often result in