Tenaris provides information pursuant to Luxembourg Transparency Law

Rhea-AI Summary

Tenaris (NYSE: TS) announced that its controlling shareholder San Faustin S.A. has crossed a voting rights threshold due to Tenaris's recent share buyback program. Following the company's open market share repurchases between June 9-13, 2025, San Faustin's 713,605,187 shares now represent 66.82% of Tenaris's voting rights. This passive threshold crossing triggered a notification requirement under Luxembourg Transparency Law. San Faustin confirmed that Tenaris's control structure remains unchanged from what was disclosed in the 2024 annual report. Tenaris, a leading global supplier of steel tubes and related services for the energy industry, had previously announced its share buyback program on May 27, 2025.

Positive

• Share buyback program actively being executed, demonstrating commitment to shareholder value
• Company maintains stable control structure

Negative

• Increased ownership concentration with controlling shareholder now holding 66.82% of voting rights

LUXEMBOURG, June 18, 2025 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) (“Tenaris”, or the “Company”) announced today that the Company’s controlling shareholder, San Faustin S.A. (“San Faustin”), has notified the Company that, as a result of Tenaris’s open market repurchases of own shares under its share buyback program publicly announced on May 27, 2025, San Faustin has passively crossed a voting rights threshold triggering a notice requirement under the Luxembourg Transparency Law.

On the date hereof, San Faustin informed the Company that, following repurchases of shares by Tenaris in the period from June 9 to June 13, 2025 (disclosed by Tenaris on June 13, 2025, in accordance with the EU Market Abuse Regulation), the 713,605,187 shares of the Company that San Faustin owns represent 66.82% of the Company’s voting rights. As required by the Luxembourg Transparency Law, San Faustin has further provided information on its control chain, wich confirms that the Company’s control structure disclosed on the Company’s 2024 annual report remains unchanged.

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 percentage of Tenaris (TS) voting rights does San Faustin now control?

San Faustin now controls 66.82% of Tenaris's voting rights, following the company's recent share buyback program.

When did Tenaris (TS) announce its share buyback program?

Tenaris announced its share buyback program on May 27, 2025.

What triggered the Luxembourg Transparency Law notification for Tenaris?

The notification was triggered when San Faustin passively crossed a voting rights threshold due to Tenaris's open market share repurchases.

What is Tenaris's (TS) main business?

Tenaris is a leading global supplier of steel tubes and related services for the world's energy industry and certain other industrial applications.

Has Tenaris's control structure changed following the voting rights threshold crossing?

No, Tenaris's control structure remains unchanged from what was disclosed in the 2024 annual report.