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

Company: TENARIS SA
Filing Date: 2025-08-01
Form: 6-K
Chunk 6
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back program liability.

The restrictions to the distribution of profits and payment
of dividends according to Luxembourg Law are disclosed in note 18.

Mainly related to the change in the fair value of U.S. dollar-denominated
Argentine bonds.

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.

| 5 |

CONSOLIDATED CONDENSED INTERIM STATEMENTS OF CASH FLOWS

|                                                                                              |     |             | Notes | Six-month period ended June 30, |        2025 |   |     |     |       2024 |   |
|:---------------------------------------------------------------------------------------------|:----|------------:|:------|:--------------------------------|------------:|:--|:----|:----|-----------:|:--|
|                                                                                              |     |             |       | -Unaudited                      |             |   |     |     |            |   |
| Cash flows from operating activities                                                         |     |             |       |                                 |             |   |     |     |            |   |
| Income for the period                                                                        |     |             |       |                                 |   1,059,570 |   |     |     |  1,098,451 |   |
| Adjustments for:                                                                             |     |             |       |                                 |             |   |     |     |            |   |
| Depreciation and amortization                                                                |     | 11, 12 & 13 |       |                                 |     296,408 |   |     |     |    313,951 |   |
| Bargain purchase gain                                                                        |     |           6 |       |                                 |           - |   |     |     |     (2,211 | ) |
| Provision for the ongoing litigation related to the acquisition of participation in Usiminas |     |      6 & 18 |       |                                 |      18,527 |   |     |     |    170,610 |   |
| Income tax accruals less payments                                                            |     |          21 |       |                                 |     (90,793 | ) |     |     |   (113,562 | ) |
| Equity in earnings (losses) of non-consolidated companies                                    |     |           8 |