Completion of First Tranche of Tenaris Share Buyback Program. Weekly Report (January 8 – January 12, 2024)

LUXEMBOURG, Jan. 12, 2024 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) (“Tenaris”) announced today the completion of the first tranche of its previously announced Share Buyback Program.

During the first tranche, which ran from November 6, 2023, to (and including) January 12, 2024, the Company purchased a total of 17,779,302 ordinary shares for a total consideration of €276,201,768, or US$300 million.

From January 8, 2024 to (and including) January 12, 2024, the Company purchased the following ordinary shares:


Average Price
Purchases in

Purchases in

08-ene-24MTA606,482 15.34689,307,558 1.097910,218,303 
08-ene-24CEUX285,810 15.34634,386,126 1.09794,815,308 
08-ene-24TQEX29,562 15.3437453,590 1.0979497,974 
08-ene-24AQXE28,377 15.3480435,530 1.0979478,147 
09-ene-24MTA606,482 15.11979,169,826 1.097210,060,674 
09-ene-24CEUX285,810 15.11994,321,419 1.09724,741,244 
09-ene-24TQEX29,562 15.1193446,957 1.0972490,379 
09-ene-24AQXE28,377 15.1226429,134 1.0972470,824 
10-ene-24MTA606,482 14.85559,009,593 1.09189,836,674 
10-ene-24CEUX284,396 14.85574,224,902 1.09184,612,748 
10-ene-24TQEX29,318 14.8544435,501 1.0918475,480 
10-ene-24AQXE28,377 14.8547421,532 1.0918460,228 
11-ene-24MTA603,614 14.82528,948,698 1.09689,814,485 
11-ene-24CEUX58,517 14.8235867,427 1.0968951,350 
  3,511,166 15.054252,857,793  57,923,819 

As of January 12, 2024, the Company held in treasury 17,779,302 ordinary shares, representing 1.51% of its total issued share capital.

Tenaris intends to cancel all 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

The second tranche of Tenaris’s Share Buyback Program is expected to begin not earlier than February 26, 2024, once Tenaris’s blackout period has ended.

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