Company: TNRSF
Filing Date: 2025-08-01
Form Type: 6-K
Source: 0001171843-25-004951
Chunk: 52

Company: TENARIS SA
Filing Date: 2025-08-01
Form: 6-K
Chunk 52
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7,484 |
| Contracts with positive fair values            |     |             |      2,676 |     |                 | 7,484 |
| Derivatives hedging borrowings and investments |     |             |      3,804 |     |                 |     - |
| Other derivatives                              |     |             |      7,002 |     |                 | 8,300 |
| Contracts with negative fair values            |     |             |     10,806 |     |                 | 8,300 |

Other derivatives include contracts which are designated to hedge positions other than borrowings
and investments.

| 37 |

| 16 | Category of financial instruments and classification within the fair value 
 hierarchy                                                                  |

The following table illustrates the three hierarchical levels for valuing
financial instruments at fair value and those measured at amortized cost as of June 30, 2025, and December 31, 2024.

| June 30, 2025 - (Unaudited)                                       |     | Carrying 
 amount   |           |     | Measurement Categories 
 Amortized Cost         |           |     | Fair Value |           |     | At Fair Value 
 Level 1       |           |     | Level 2 |        |     | Level 3 |         |
|:------------------------------------------------------------------|:----|:---------|----------:|:----|:-----------------------|----------:|:----|:-----------|----------:|:----|:--------------|----------:|:----|:--------|-------:|:----|:--------|--------:|
| Assets                                                            |     |          |           |     |                        |           |     |            |           |     |               |           |     |         |        |     |         |         |
| Cash and cash equivalents                                         |     |          |   572,289 |     |                        |   191,440 |     |            |   380,849 |     |               |   380,849 |     |         |      - |     |         |       - |
| Other investments                                                 |     |          | 2,482,514 |     |                        |   948,980 |     |            | 1,533,534 |     |               | 1,533,534 |     |         |      - |     |         |       - |
| Fixed Income (time-deposit, zero coupon bonds, commercial papers) |     |          |