Tenaris completes its USD700 Million Share Buyback Program

Rhea-AI Summary

Tenaris (NYSE: TS) has successfully completed its USD700 million Share Buyback Program that ran from November 11, 2024, to March 4, 2025. During this period, the company purchased 36,862,132 ordinary shares, representing 3.17% of the total issued share capital, for a total consideration of €668,198,121.

As of March 4, 2025, Tenaris holds 90,762,598 ordinary shares in treasury (including 53,900,466 shares from a previous USD 1.2 billion buyback program), equivalent to 7.81% of the total issued share capital. The company plans to cancel the treasury shares purchased under this latest program.

Positive

• USD700 million returned to shareholders via share buyback
• 3.17% reduction in share count improves EPS
• Planned share cancellation will further reduce share count

Negative

• Significant cash outflow of USD700 million reduces company's liquidity

LUXEMBOURG, March 04, 2025 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) (“Tenaris”) announced today the completion of its USD700 million Share Buyback Program announced on November 10, 2024 (the “Program”).

During the Program, which ran from November 11, 2024, to (and including) March 4, 2025, the Company purchased a total of 36,862,132 ordinary shares, representing 3.17% of the total issued share capital at the beginning of the Program, for a total consideration of €668,198,121, or approx. USD700 million.

As of March 4, 2025, the Company held in treasury 90,762,598 ordinary shares (including 53,900,466 ordinary shares bought pursuant to the USD 1.2 billion Share Buyback Program), equal to 7.81% of the total issued share capital.

Tenaris intends to cancel treasury shares purchased under the Program in due course.

Details of the above transactions are available on Tenaris’s corporate website under the Share Buyback Program Section https://ir.tenaris.com/share-buyback-program.

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

How many shares did Tenaris (TS) repurchase in its latest buyback program?

Tenaris repurchased 36,862,132 ordinary shares, representing 3.17% of total issued share capital, for USD700 million.

What is the total number of treasury shares Tenaris (TS) holds as of March 2025?

As of March 4, 2025, Tenaris holds 90,762,598 ordinary shares in treasury, equal to 7.81% of total issued share capital.

When did Tenaris (TS) complete its USD700 million share buyback program?

Tenaris completed its USD700 million share buyback program on March 4, 2025.

What does Tenaris (TS) plan to do with the shares purchased in the buyback program?

Tenaris intends to cancel the treasury shares purchased under the program.