Company: TNRSF
Filing Date: 2025-08-01
Form Type: 6-K
Source: 0001171843-25-004951
Chunk: 62

Company: TENARIS SA
Filing Date: 2025-08-01
Form: 6-K
Chunk 62
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 expert evidence be produced. As a    
 result, the trial was redirected to the first instance court for new technical evidence to be produced by a new expert. On September 9,  
 2024, Veracel filed a motion for clarification, which was responded by Confab on October 23, 2024, and remains pending decision. At this 
 stage, the Company cannot predict the outcome of the claim or the amount or range of loss in case of an unfavourable outcome.            |

| § | Petrobras-related proceedings and claims |

Upon learning of certain government investigations as to whether certain
payments were made prior to 2014 from accounts of entities presumably associated with affiliates of the Company to accounts allegedly
linked to individuals related to Petróleo Brasileiro S.A. (“Petrobras”) and whether any such payments were intended
to benefit the Company’s Brazilian subsidiary Confab, the Audit Committee of the Company's Board of Directors engaged external counsel
in connection with the Company’s review of these matters. In addition, the Company voluntarily notified the U.S. Securities and
Exchange Commission (“SEC”) and the U.S. Department of Justice (“DOJ”) in October 2016, conducted, with the assistance
of external counsel, an internal investigation, and found no evidence corroborating any involvement by the Company or its directors, officers
or employees in respect of improper payments. An internal investigation commissioned by Petrobras also found no evidence that Confab obtained
any unfair commercial benefit or advantage from Petrobras in return for payments, including improperly obtained contracts. On June 2,
2022, the Company resolved the investigation by the SEC, and the DOJ informed that it had closed its parallel inquiry without taking action.
Under the settlement with the SEC, the Company neither admits nor denies the SEC’s findings and on June 24, 2022, paid $53.1 million
in disgorgement and prejudgment interest and $25 million for a civil penalty to conclude the matter.

In July 2019, the Company learned that the public prosecutors’ office
of Milan, Italy, had completed a preliminary investigation into the same alleged payments and had included in the investigation, among
other persons, the Company’s Chairman and Chief Executive Officer, two other board members, Gianfelice 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