Company: TNRSF
Filing Date: 2025-08-01
Form Type: 6-K
Source: 0001171843-25-004951
Chunk: 30

Company: TENARIS SA
Filing Date: 2025-08-01
Form: 6-K
Chunk 30
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 by Tenaris and acted in compliance with applicable
rules and regulations, including the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052.

During the first share buyback program, which was divided into four tranches and ran from November
5, 2023, to (and including) August 2, 2024, the Company repurchased 71,679,768 ordinary shares, representing 6.07% of the Company’s
issued share capital as measured at the beginning of the first program, for a total consideration of approximately $1.2 billion (excluding
incidental transaction fees).

The shares acquired during the first tranche of the first share buyback program were cancelled
at the extraordinary shareholders meeting held on April 30, 2024, and the remaining shares acquired during the second, third and fourth
tranches of the first share buyback program were cancelled at the extraordinary shareholders meeting held on May 6, 2025, as further described
below.

Second Share Buyback Program

On November 6, 2024, the Company’s board of directors approved a follow-on share buyback
program of up to $700 million (excluding incidental transaction fees), subject to a maximum of 46,373,915 ordinary shares, representing
the remaining 3.93% of the Company’s issued share capital (measured as of the launch of the first share buyback program), to complete
the maximum of 10% of the share capital that could be repurchased by the Company at the time, with the intention to cancel the ordinary
shares acquired through the program. The second share buyback program was carried out under the authority granted by the annual general
meeting of shareholders held on June 2, 2020, up to a maximum of 10% of the Company’s shares.

For purposes of carrying out the second share buyback program, the Company entered into a non-discretionary
buyback agreement with a primary financial institution, which made trading decisions concerning the timing of the purchases of the Company’s
shares independently of and uninfluenced by Tenaris and acted in compliance with applicable rules and regulations, including the Market
Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052.

During the second share buyback program, which ran from November 11, 2024, to (and including)
March 4, 2025,