Company: TNRSF
Filing Date: 2025-02-21
Form Type: 6-K
Source: 0001171843-25-000987
Chunk: 16

Company: TENARIS SA
Filing Date: 2025-02-21
Form: 6-K
Chunk 16
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 as members of the T/T Group. Under
such separate agreement, Confab enjoys certain rights with respect to the governance of Usiminas, including, among others, the ability
to nominate certain Usiminas’ officers and directors. Those circumstances evidence that Tenaris continues having significant influence
over Usiminas and, as a result, continues accounting for its investment under the equity method.

| c) | Techgen |

Techgen S.A. de C.V. (“Techgen”), which operates
an electric power plant in Mexico, is a joint venture company owned 48% by Ternium, 30% by Tecpetrol International S.A. (“Tecpetrol”)
and 22% by Tenaris. The Company, Ternium and Tecpetrol are parties to a shareholders’ agreement relating to the governance of Techgen
and are under the indirect common control of San Faustin. Based on the facts stated above, the Company has determined that it has significant
influence over this entity.

Tenaris carries its investments in non-consolidated companies under the
equity method, with no additional goodwill or intangible assets recognized. Tenaris reviews investments in non-consolidated companies
for impairment whenever events or changes in circumstances indicate that the asset’s carrying amount may not be recoverable. For
more information see note 14 to these Consolidated Financial Statements.

| C | Segment information |

The Company is organized in one major business segment, Tubes, which is
also the reportable operating segment. All other business activities and operating segments that are not required to be separately reported
are disclosed in the Other segment.

The Tubes segment includes the production and sale of steel tubular products
and related services mainly for the oil and gas industry, particularly oil country tubular goods (“OCTG”) used in drilling
operations, and for other industrial applications with production processes that consist in the transformation of steel into tubular products.
Business activities included in this segment are mainly dependent on the worldwide oil and gas industry, as this industry is a major consumer
of steel pipe products, particularly OCTG used in drilling activities. Demand for steel pipe products from the oil and gas industry has
historically been volatile and depends primarily upon the number of oil and natural gas wells being drilled, completed and reworked, and
the depth and drilling conditions of these wells. Sales are generally made to end users, with exports being done through a centrally managed
global distribution network and domestic sales are made through local subsidiaries.

The