Share buyback program of up to USD 1.2 billion

Rhea-AI Summary

Tenaris (NYSE: TS) has announced a significant share buyback program of up to $1.2 billion, representing approximately 74 million shares or 6.9% of outstanding shares. The program, approved by the Board of Directors, will be executed within a year with the intention to cancel the repurchased shares.

The buyback initiative is driven by Tenaris's strong cash flow generation and robust balance sheet. The program will operate under the authority granted at the May 6, 2025 annual general meeting, with a maximum limit of 10% of company shares. Set to launch in June 2025, the buybacks will be executed through a primary financial institution and may be adjusted based on market conditions and regulatory compliance.

Positive

• Substantial $1.2 billion share buyback program representing 6.9% of outstanding shares
• Strong cash flow generation and robust balance sheet position
• Plan to cancel repurchased shares, potentially increasing value for remaining shareholders

Negative

• Significant cash expenditure that could otherwise be used for business operations or growth
• Reduction in company's cash reserves and financial flexibility

LUXEMBOURG, May 27, 2025 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) (“Tenaris”) announced today that Tenaris’s Board of Directors approved a share buyback program of up to $1.2 billion (which, at the closing price of May 27, 2025 on the Milan Stock Exchange would represent approximately 74 million shares, or 6.9% of Tenaris’s outstanding shares), to be executed within a year, with the intention to cancel the ordinary shares acquired through the program.

The decision and opportunity of initiating the buyback program is driven by the company’s significant cash flow generation and strong balance sheet.

The buyback program will be carried out under the authority granted by the annual general meeting of shareholders held on May 6, 2025, up to a maximum of 10% of the Company´s shares.

The buyback program is expected to be launched in June 2025 and share purchases will be executed through a primary financial institution.

The buybacks may be ceased, paused and continued at any time, subject to compliance with applicable laws and regulations.

Tenaris will provide updates on the buyback program via press releases and on the Investors section of its corporate website. The buybacks will be carried out subject to market conditions and in compliance with applicable laws and regulations, including the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052.

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
1-888-300-5432
www.tenaris.com

FAQ

What is the size of Tenaris (TS) share buyback program announced in May 2025?

Tenaris announced a share buyback program of up to $1.2 billion, representing approximately 74 million shares or 6.9% of the company's outstanding shares.

When will Tenaris (TS) start its $1.2 billion share buyback program?

The share buyback program is expected to launch in June 2025 and will be executed within a year through a primary financial institution.

Why is Tenaris (TS) implementing a share buyback program?

The buyback program is driven by Tenaris's significant cash flow generation and strong balance sheet position, with the intention to cancel the repurchased shares.

What is the maximum percentage of shares Tenaris can repurchase under this program?

The buyback program is limited to a maximum of 10% of the company's shares, as authorized by the annual general meeting held on May 6, 2025.