Company: TNRSF
Filing Date: 2025-05-01
Form Type: 6-K
Source: 0001171843-25-002694
Chunk: 38

Company: TENARIS SA
Filing Date: 2025-05-01
Form: 6-K
Chunk 38
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12,277,261 shares, for approximately $235 million (including a positive performance amount of $1.1 million). During the three-month period
ended March 31, 2024, the Company purchased 17,168,061 shares, for approximately $311 million (including a negative performance amount
of $4.6 million).

As of March 31, 2025, the Company held90,762,598 shares as treasury shares. The Company intends to cancel all treasury shares purchased under the share buyback programs inthe next extraordinary general meeting of shareholders scheduled to be held on May 6, 2025,
and to approve the corresponding reduction of the Company’s issued share capital for $90,762,598 so as to bring the issued share
capital from $1,162,757,528 to $1,071,994,930.

As of December 31, 2024, the Company held a liability in connection to
the shares to be settled under the share buyback programs that amounted to $243.3 million, valued at
fair value.

Further information on the buyback transactions is available on Tenaris’s
corporate website under the Share Buyback Program Section.

| 28 |

| 24 | Tariffs on steel imports in the United States |

On February 1, 2025, the U.S. government announced the imposition of flat
tariffs applicable to all products imported from Mexico and Canada, but subsequently suspended the effectiveness of such tariffs, citing
ongoing trade negotiations.

On February 10, 2025, the U.S. government announced changes to the tariffs
applicable to imported steel products, including those produced and sold by the Company. These charges include the extension of a 25%
tariff to all imported steel products, which became effective on March 12, 2025, pursuant to a phased-in implementation plan, initially
applying to raw steel products, with downstream (“derivative”) products being subject to the tariff starting June 1, 2025. Exclusions
that currently exempt specific products and countries from the existing tariffs would end under the announced plan.

These announced U.S. tariffs on steel imports and other tariffs (including
those arising under the reciprocal tariff regime announced by the U.S. government on April 2, 2025, or under the retaliatory measures
enacted by other countries) could affect market prices and dynamics, supply chains, and cost structures. However, implementation is still
uncertain.