Company: TNRSF
Filing Date: 2025-02-21
Form Type: 6-K
Source: 0001171843-25-000987
Chunk: 28

Company: TENARIS SA
Filing Date: 2025-02-21
Form: 6-K
Chunk 28
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Acquisitions of treasury shares are recorded at acquisition cost, deducted
from equity until disposal or cancellation. Any potential gains or losses on disposal of treasury shares are recognized in the Consolidated
Statement of Changes in Equity. Treasury shares as of December 31, 2024, were 78,485,337 and as of December 31, 2023 were 12,648,091.

| (4) | Dividends distribution by the Company to shareholders |

Dividends distributions are recorded in the Company’s financial statements
when Company’s shareholders have the right to receive the payment, or when interim dividends are approved by the Board of Directors
in accordance with the by-laws of the Company.

Dividends may be paid by the Company to the extent that it has distributable
retained earnings, calculated in accordance with Luxembourg law. See note 27 (iii) to these Consolidated
Financial Statements.

#### NBorrowings
Borrowings are recognized initially at fair value net of transaction costs
incurred and subsequently measured at amortized cost. Any difference between the proceeds (net of transaction costs) and the redemption
amount is recognized in profit or loss over the period of the borrowings using the effective interest method.

#### OCurrent and deferred income tax
The income tax expense or credit for the period is the tax payable or recoverable
on the current period’s taxable income based on the applicable income tax rate for each jurisdiction adjusted by changes in deferred
tax assets and liabilities attributable to temporary differences and to unused tax losses. Both current and deferred tax are recognized
in the Consolidated Income Statement, in Income tax, except to the extent that it relates to items recognized in other comprehensive
income or directly in equity. In these cases, the tax is also recognized in other comprehensive income or directly in equity, respectively.

The current income tax charge is calculated based on the tax laws enacted
or substantively enacted at the reporting date in the countries where the Company’s subsidiaries operate and generate taxable income.

| - 21 - |

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

Deferred income tax is recognized applying the liability method on temporary
differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. The temporary
differences arise mainly from net operating loss carry-forwards, the effect of currency translation on depreciable fixed assets and invent