Company: TNRSF
Filing Date: 2025-08-01
Form Type: 6-K
Source: 0001171843-25-004951
Chunk: 19

Company: TENARIS SA
Filing Date: 2025-08-01
Form: 6-K
Chunk 19
---
 from cyberthreats
or coverage may be limited. Moreover, any investigation of a cyberattack would take time before completion, during which we would
not necessarily know the extent of the actual or potential harm or how best to remediate it, and certain errors or actions could be repeated
or compounded before duly discovered and remediated (all or any of which could further increase the costs and consequences arising out
of such cyberattack). In addition, failure to adequately and timely monitor and evaluate our hardware and software systems and applications
to prevent or manage technology obsolescence risks may result in increased costs, increased operational risk of service failure, loss
of technology competitiveness and reputation. Furthermore, in response to the increase in the number and sophistication of ransomware
attacks, U.S. and regulatory agencies have implemented regulations to prevent victims from making ransomware payments and to deter third
parties from facilitating or processing such payments to cyber actors, which would constrain our ability to deal with ransomware attacks,
should they occur.

As a holding company, our subsidiaries’ ability to pay cash dividends and make other payments
to us depends on the results of operations and financial condition of such subsidiaries, which could be restricted by legal, contractual
or other limitations, including exchange controls or transfer restrictions, and other agreements and commitments of our subsidiaries.

As of June 30, 2025, San Faustin beneficially owned 66.57% of the Company’s issued share
capital, and 67.39% of the voting rights. San Faustin’s share percentage ownership and voting rights increased following the cancellation
of the shares repurchased by the Company under its share buyback programs, approved at the extraordinary general meeting of shareholders,
held on April 30, 2024, and its extraordinary general meeting of shareholders held on May 6, 2025. The Company’s controlling shareholder
may be able to take actions that do not reflect the will or best interests of other shareholders.

| 10 |

| Half-year report 2025 - Interim management report |

#### Outstanding Legal Proceedings
Tenaris is from time to time subject to various claims, lawsuits and other legal proceedings,
including customer, employee, tax and environmental-related claims, in which third parties are seeking payment for alleged damages, reimbursement
for losses, or indemnity. Management, with the assistance of legal counsel, periodically reviews the status of each significant matter
and assesses potential financial exposure.

Some of these claims, lawsuits and other legal proceedings involve highly complex issues, and
often