Company: TNRSF
Filing Date: 2025-08-01
Form Type: 6-K
Source: 0001171843-25-004951
Chunk: 71

Company: TENARIS SA
Filing Date: 2025-08-01
Form: 6-K
Chunk 71
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 (13,039 | ) |     |     |   (2,635 | ) |

(*)Changes in working capital do not include non-cash movements due to the variations in the exchange rates used by subsidiaries with functional currencies different from the U.S. dollar.

| 22 | Related party transactions |

As of June 30, 2025:

| § | San Faustin S.A., a Luxembourg société anonyme, owned 713,605,187                    
 shares in the Company, representing 66.57% of the Company’s share capital and 67.39% 
 of the voting rights.                                                                |

| § | San Faustin owned all of its shares in the Company through its wholly-owned subsidiary Techint Holdings 
 S.à.r.l., a Luxembourg société à responsabilité limitée (“Techint”), who                                
 is the holder of record of the above-mentioned Tenaris shares.                                          |

| § | Rocca & Partners Stichting Administratiekantoor Aandelen San Faustin, a private foundation located                        
 in the Netherlands (Stichting) (“RP STAK”) held voting shares in San Faustin sufficient in number to control San Faustin. |

| § | No person or group of persons controls RP STAK. |

Based on the information most recently available to the Company, Tenaris’s
directors and senior management as a group owned 0.08% of the Company’s share capital and voting rights.

Transactions and balances disclosed as with “associated companies”
are those with companies over which Tenaris exerts significant influence in accordance with IFRS, but does not have control. Transactions
and balances disclosed as with “joint ventures” are those with companies over which Tenaris exerts joint control in accordance
with IFRS, but does not have control. All other transactions and balances with related parties that are not non-consolidated parties are
disclosed as “other related parties”.

| 48 |

The following transactions were carried out with related parties:

|     |                                                           |     | Six-month period ended June 30, |    2025 |     |     |    2024 |   |
|:----|:----------------------------------------------------------|:----|:--------------------------------|--------:|:----|:----|--------:|:--|
| (i) | Transactions                                              |     | -Unaudited                      |         |     |     |         |   |
|     | (a) Sales of goods, services and other transactions       |     |