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