Company: TNRSF
Filing Date: 2025-02-21
Form Type: 6-K
Source: 0001171843-25-000987
Chunk: 17

Company: TENARIS SA
Filing Date: 2025-02-21
Form: 6-K
Chunk 17
---
 Other segment includes all business activities related to the production
and selling of sucker rods, coiled tubing, tubes used for plumbing and construction applications, oilfield / hydraulic fracturing services
and others as energy and raw materials that exceed internal requirements.

During 2024 and following the acquisition of Mattr’s pipe coating
business unit on November 30, 2023, the management performed a review of the new business structure to decide on the allocation of resources
and the assessment of performance, and decided to integrate the coating activities to its Tubes segment.

Tenaris’s Chief Operating Decision Maker (“CODM”) reviews
operating and financial performance information with senior management on a monthly basis. This information differs from IFRS principally
as follows:

| § | the use of direct cost methodology to calculate the inventories, while under IFRS it is at full cost, 
 including absorption of production overheads and depreciation;                                        |

| § | the use of costs based on previously internally defined cost estimates, while, under IFRS, costs are calculated 
 at historical cost, mainly on a FIFO basis;                                                                     |

| § | any currency translation adjustment reclassification, when applicable, for companies that under IFRS had 
 a different functional currency than the U.S. dollar; and                                                |

| § | other timing differences, if any. |

Tenaris presents its geographical information in four areas: North America,
South America, Europe and Asia Pacific, Middle East and Africa. For purposes of reporting geographical information, net sales are allocated
to geographical areas based on the customer’s location; the allocation of assets is based on their geographical location.

| - 14 - |

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

#### DForeign currency translation
| (1) | Functional and presentation currency |

IAS 21, “The effects of changes in foreign exchange rates”
defines the functional currency as the currency of the primary economic environment in which an entity operates.

The functional and presentation currency of the Company is the U.S. dollar.
The U.S. dollar is the currency that best reflects the economic substance of the underlying events and circumstances relevant to Tenaris’s
global operations.

Starting January 1, 2023, the Company changed the functional currency of
its Brazilian subsidiaries, from the Brazilian Real to the U.S. dollar.

Except for the Italian subsidiaries whose functional currency is the Euro