Company: TNRSF
Filing Date: 2025-04-07
Form Type: 6-K
Source: 0001171843-25-002038
Chunk: 24

Company: TENARIS SA
Filing Date: 2025-04-07
Form: 6-K
Chunk 24
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4”.

4. Allocation of results and approval of dividend payment for the year ended 31 stDecember 2024.

In accordance with applicable Luxembourg law and the Company’s articles
of association, the Company is required to allocate 5% of its annual net income to a legal reserve, until this reserve equals 10% of the
subscribed capital. As indicated in the Company’s annual accounts as at 31 December 2024, the Company’s legal
reserve already amounts to 10% of its subscribed capital and, accordingly, the legal requirements in that respect are satisfied.

Dividends may be lawfully declared and paid out of net profits, retained
earnings and distributable reserves and premiums, each as defined and calculated in accordance with Luxembourg law. The amount and payment
of dividends must be approved by a majority vote at the annual general meeting of shareholders, generally, but not necessarily, based
on the recommendation of the Company’s board of directors (the “”). Under Article 21 of the
Company’s articles of association, the Board of Directors has the power to distribute interim dividends in accordance with applicable
law; in particular, in accordance with the conditions set forth in Article 461-3 of the Luxembourg Company Law. Such dividend payments
must be finally approved by the annual general meeting of shareholders.

The Board of Directors proposed at its meeting held on 19
February 2025, a dividend, payable in U.S. dollars, in the amount of US$0.83 per share (or US$1.66 per ADRS), which represents an aggregate
sum of approximately US$0.9 billion (the “”). The Annual Dividend is proposed to include the interim
dividend of $0.27 per share ($0.54 per ADR) or approximately US$0.3 billion, paid on 20 November 2024 (the “”), and, accordingly, if the Annual Dividend proposal is approved, the Company will make an additional dividend payment
on 21 May 2025 in the amount of US$0.56 per share (or US$1.12 per ADR), or approximately US$0.6 billion (the “”).

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The Company’s annual accounts as at 31 December 2024,
show a profit for 2024, of approximately US$ 1,469.8 million. Considering the annual profit and the amount of the Company’s retained
earnings, other distributable reserves and premiums, the