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Tenaris to Commence a USD 600 million First Tranche of its USD 1.2 Billion Share Buyback Program

1. Tenaris announced a $1.2 billion share buyback program. 2. The first tranche is $600 million, starting June 9, 2025. 3. Buyback decisions made by an independent bank for compliance. 4. Shares purchased will ultimately be canceled to reduce supply. 5. Forward-looking statements include risks from oil and gas price uncertainties.

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FAQ

Why Bullish?

Similar buybacks in the past have shown a tendency to drive stock prices higher due to perceived value redistribution to shareholders and confidence in cash flow.

How important is it?

The significance of a $1.2 billion buyback suggests a commitment to shareholder value, making it highly relevant to TS’s stock price. The effective management of buybacks can positively shift market perception, leading to immediate investor interest.

Why Short Term?

Companies often see elevated prices during active buyback periods, thus making this a short-term factor.

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LUXEMBOURG, June 06, 2025 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) (“Tenaris”) announced today that pursuant to its Share Buyback Program (the “Program”) announced on May 27, 2025, covering up to USD 1.2 billion, it has entered into a non-discretionary buyback agreement with a primary financial institution (the “Bank”). The Bank will make its trading decisions concerning the timing of the purchases of Tenaris’s ordinary shares independently of and uninfluenced by Tenaris. The Program will be executed in compliance with applicable rules and regulations, including the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052 (the “Regulations”). Under the buyback agreement, purchases of shares may continue during any closed periods of Tenaris in accordance with the Regulations. This first tranche of the Program will cover up to USD 600 million (excluding customary transaction fees) and will start on June 9, 2025, and end no later than December 8, 2025. Ordinary shares purchased under the Program will be cancelled in due course. Any buyback of ordinary shares pursuant to the Program will be carried out under the authority granted by the general meeting of shareholders held on May 6, 2025. Some of the statements contained in this press release are “forward-looking statements”. Forward-looking statements are based on management’s current views and assumptions and involve known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements. These risks include but are not limited to risks arising from uncertainties as to future oil and gas prices and their impact on investment programs by oil and gas companies. Tenaris is a leading global supplier of steel tubes and related services for the world’s energy industry and certain other industrial applications. Giovanni Sardagna        Tenaris 1-888-300-5432www.tenaris.com

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