Company: TNRSF
Filing Date: 2025-02-21
Form Type: 6-K
Source: 0001171843-25-000987
Chunk: 30

Company: TENARIS SA
Filing Date: 2025-02-21
Form: 6-K
Chunk 30
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. Therefore, is required to calculate its GloBe
effective tax rate for each jurisdiction in which it is present and is liable to pay a top-up tax for the difference between its Globe
effective tax rate per jurisdiction and the 15% minimum rate. The group applies the IAS 12 exception regarding the recognition and disclosure
of deferred tax assets and liabilities related to Pillar Two income taxes.

#### PEmployee benefits
| (1) | Short-term obligations |

Liabilities for wages and salaries are recognized in respect of employees’
services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The
liabilities are presented as current employee benefit obligations in the balance sheet.

| (2) | Post-employment benefits |

The Company has defined benefit and defined contribution plans. A defined
benefit plan is a pension plan that defines an amount of pension benefit that an employee will receive on retirement, usually dependent
on one or more factors such as age, years of service and compensation.

| - 22 - |

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

The liability recognized in the statement of financial position in respect
of defined benefit pension plans is the present value of the defined benefit obligation at the end of the reporting period less the fair
value of plan assets, if any. The defined benefit obligation is calculated annually (at year end) by independent actuaries using the projected
unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future cash flows using
interest rates of high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have
terms to maturity approximating to the terms of the related pension obligation.

Remeasurement gains and losses arising from experience adjustments and
changes in actuarial assumptions are charged or credited to equity in Other comprehensive income in the period in which they arise.
Past-service costs are recognized immediately in the Income Statement.

For defined benefit funded plans, net interest income / expense is calculated
based on the surplus or deficit derived by the difference between the defined benefit obligations less fair value of plan assets.

For defined contribution plans, the Company pays contributions to publicly
or privately administered pension insurance plans on a mandatory, contractual or voluntary basis. The Company has no further payment obligations
once the contributions have been paid. The contributions