Company: TNRSF
Filing Date: 2025-02-21
Form Type: 6-K
Source: 0001171843-25-000987
Chunk: 95

Company: TENARIS SA
Filing Date: 2025-02-21
Form: 6-K
Chunk 95
---
 Rocca and Roberto Bonatti,
and the Company’s controlling shareholder, San Faustin. The Company was not a party to the proceedings. On March 22, 2022, upon
completion of the evidentiary phase of the trial, the acting prosecutor requested the first-instance court in Milan in charge of the case
to impose sanctions on our Chairman and Chief Executive Officer, on the other two board members, and on San Faustin. On May 26, 2022,
the first-instance court dismissed the case brought by the public prosecutor against the defendants for lack of jurisdiction and stated
that the criminal proceeding should not have been initiated. On February 22, 2024, the court of appeals referred the case to the court
of cassation, which, on May 23, 2024, confirmed the decision of the first-instance court and closed the case.

In June 2020, the Brazilian public prosecutors’ office requested
the indictment of several individuals, including three executives or former executives of Confab and a former agent of Confab, charging
them with the alleged crimes of corruption in relation to contracts executed between 2007 and 2010, and money laundering in relation to
payments between 2009 and 2013. On December 11, 2024, the Confab executives were acquitted. The acquittal has already been appealed, so
the criminal proceedings continue to be underway. Neither the Company nor Confab is a party to these criminal proceedings.

In addition, Petrobras and the Brazilian public prosecutors filed civil
claims for damages against, among others, Confab and the Confab executives named in the criminal proceedings referred to above. Confab
became aware of these civil claims in September 2022. As of December 31, 2024, the aggregate amount of these claims was estimated at BRL193.2
million (or approximately $31.2 million). The plaintiffs also seek that Confab be prohibited from contracting
with, or receiving benefits or exemptions from, the Brazilian state for an unspecified term. Confab believes these claims do not address
either the defence arguments or the evidence available to the plaintiffs in Brazil and presented in other jurisdictions and is vigorously
contesting them. At this stage, the Company cannot predict the outcome of these civil proceedings.

| - 63 - |

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