Company: TNRSF
Filing Date: 2025-02-21
Form Type: 6-K
Source: 0001171843-25-000987
Chunk: 92

Company: TENARIS SA
Filing Date: 2025-02-21
Form: 6-K
Chunk 92
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6, 2024, the SCJ rejected this motion for
clarification, confirming the obligation of Confab and the other T/T Group entities to pay indemnification in connection with the 2012
acquisition of the participations in Usiminas. Notwithstanding the foregoing, the SCJ unanimously resolved to modify the applicable monetary
adjustment mechanism and to cap the applicable attorney’s fees, thereby lowering the aggregate amount that would be payable if CSN
ultimately prevails in this claim. Based on such SCJ decision, assuming monetary adjustment thorough December 31, 2024, and attorney’s
fees in the amount of BRL5 million, the revised aggregate amount potentially payable by Confab if CSN finally prevails on its claims,
would be of approximately BRL553.4 million (approximately $89.4 million
at the BRL/$ rate as of such date).

The Company continues to believe that all of CSN's claims and allegations
are unsupported and without merit, as confirmed by several opinions of Brazilian legal counsel, two decisions issued by the Brazilian
securities regulator in February 2012 and December 2016, the first and second instance court decisions and the March 7, 2023 SCJ decision
referred to above, and that in connection with the Usiminas acquisition the T/T Group was not required either to launch a tender offer
or to pay indemnification to CSN. Accordingly, on February 10, 2025, Confab and the other T/T Group entities filed an extraordinary appeal
against the SCJ decisions that ordered an indemnification payment, seeking their review and reversal by the Supreme Federal Tribunal.
The Company, however, cannot predict the ultimate resolution of the matter.

| § | Veracel celulose accident litigation |

On September 21, 2007, an accident occurred in the premises of Veracel
Celulose S.A. (“Veracel”) in connection with a rupture in one of the tanks used in an evaporation system manufactured by Confab.
The Veracel accident allegedly resulted in material damages to Veracel. Itaú Seguros S.A. (“Itaú”), Veracel’s
insurer at the time of the Veracel accident and then replaced by Chubb Seguros Brasil S/A (“Chubb”), initiated a lawsuit against
Confab seeking reimbursement of damages paid to Veracel in connection with the Veracel accident. Veracel initiated a second lawsuit against