Company: TNRSF
Filing Date: 2025-02-21
Form Type: 6-K
Source: 0001171843-25-000987
Chunk: 27

Company: TENARIS SA
Filing Date: 2025-02-21
Form: 6-K
Chunk 27
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 out to determine if an allowance has to be allocated to the credit. Following impairment, collection is monitored and reversed
in case of receipt of the payment.

#### LCash and cash equivalents
Cash and cash equivalents are comprised of cash at banks, liquidity funds
and short-term investments with a maturity of less than three months at the date of purchase which are readily convertible to known amounts
of cash which are subject to an insignificant risk of changes in value. Assets recorded in cash and cash equivalents are carried at fair
market value or at historical cost which approximates fair market value.

In the Consolidated Statement of Financial Position, bank overdrafts are
included in Borrowings in current liabilities.

For the purposes of the Consolidated Statement of Cash Flows, Cash and cash equivalents includes overdrafts.

| - 20 - |

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

#### MEquity
| (1) | Equity components |

The Consolidated Statement of Changes in Equity includes:

| § | the value of share capital, legal reserve, share premium and other distributable reserves calculated in 
 accordance with Luxembourg law;                                                                         |

| § | the currency translation adjustment, treasury shares, other reserves, retained earnings and non-controlling 
 interest calculated in accordance with IFRS.                                                                |

| (2) | Share capital |

The Company has an authorized share capital of a single class of 2.5 billion
shares having a nominal value of $1.00 per share. Total ordinary shares issued as of December 31, 2024 were 1,162,757,528
with a par value of $1.00 per share with one vote each. Total ordinary shares issued as of December 31, 2023 and 2022 were 1,180,536,830
with a par value of $1.00 per share with one vote each. Total ordinary shares outstanding as of December 31, 2024, were 1,084,272,191,
as of December 31, 2023 were 1,167,888,739 and as of December 31, 2022 were 1,180,536,830
with a par value of $1.00 per share with one vote each. Outstanding shares do not include treasury shares. All issued shares are fully
paid.

| (3) | Treasury Shares |