TS · Tenaris S.A.

The Extraordinary General Meeting of Tenaris S.A. held on May 12, 2026, approved the cancellation of 62,355,174 ordinary shares held in treasury, which were acquired under the third share buyback program that ran from June 9, 2025, to March 3, 2026. This cancellation reduces the issued share capital from $1,071,994,930 to $1,009,639,756, represented by 1,009,639,756 ordinary shares with a nominal value of $1.00 per share. The reduction reflects a return of capital to shareholders and improves per-share metrics. Additionally, the articles of association were amended to reflect the new capital structure. The authorized capital remains at $2.5 billion, providing flexibility for future issuances. The board retains authority to issue shares within the authorized capital, with pre-emptive rights waived for non-cash contributions and for up to 1.5% of issued capital for compensation purposes. This capital management action signals confidence in the company's financial position and commitment to shareholder value.