<SEC-DOCUMENT>0001171843-25-002038.txt : 20250407
<SEC-HEADER>0001171843-25-002038.hdr.sgml : 20250407
<ACCEPTANCE-DATETIME>20250404173224
ACCESSION NUMBER:		0001171843-25-002038
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20250404
FILED AS OF DATE:		20250407
DATE AS OF CHANGE:		20250404

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TENARIS SA
		CENTRAL INDEX KEY:			0001190723
		STANDARD INDUSTRIAL CLASSIFICATION:	STEEL WORKS, BLAST FURNACES  ROLLING MILLS (COKE OVENS) [3312]
		ORGANIZATION NAME:           	04 Manufacturing
		EIN:				000000000

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31518
		FILM NUMBER:		25815901

	BUSINESS ADDRESS:	
		STREET 1:		26, BOULEVARD ROYAL, 4TH FLOOR
		CITY:			LUXEMBOURG
		STATE:			N4
		ZIP:			L-2449
		BUSINESS PHONE:		1-888-300-5432

	MAIL ADDRESS:	
		STREET 1:		26, BOULEVARD ROYAL, 4TH FLOOR
		CITY:			LUXEMBOURG
		STATE:			N4
		ZIP:			L-2449
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>f6k_040425.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>FORM 6 - <FONT STYLE="letter-spacing: -0.5pt">K</FONT></B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B></B></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0.15pt 0pt 0">SECURITIES AND EXCHANGE <FONT STYLE="letter-spacing: -0.1pt">COMMISSION</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0.1pt 0pt 0; text-align: center">Washington, D.C. <FONT STYLE="letter-spacing: -0.1pt">20549</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: -0.15pt; margin: 0pt 135.85pt 0pt 135.95pt"><B>Report of Foreign Private Issuer</B></P>

<P STYLE="margin: 0pt 135.85pt 0pt 135.95pt; font-size: 10pt; text-align: center; text-indent: -0.15pt"><B>Pursuant to Rule 13a - 16 or 15d - 16 of</B></P>

<P STYLE="margin: 0pt 135.85pt 0pt 135.95pt; font-size: 10pt; text-align: center; text-indent: -0.15pt"><B>the Securities Exchange Act of 1934</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 6pt"><B>As of April 4, <FONT STYLE="letter-spacing: -0.2pt">2025</FONT></B></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0"><FONT STYLE="letter-spacing: -0.1pt">TENARIS,</FONT>
<FONT STYLE="letter-spacing: -0.2pt">S.A.</FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0.05pt 0pt 0">(Translation of Registrant's name into <FONT STYLE="letter-spacing: -0.1pt">English)</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 169.65pt 0pt 169.75pt">26, Boulevard Royal, 4th floor</P>

<P STYLE="margin: 0pt 169.65pt 0pt 169.75pt; font-size: 10pt; text-align: center">L-2449 Luxembourg</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.05pt 0pt 0; text-align: center">(Address of principal executive <FONT STYLE="letter-spacing: -0.1pt">offices)</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 2.3pt 0pt 21.25pt">Indicate by check mark whether the registrant files or
will file annual reports under cover Form 20-<FONT STYLE="letter-spacing: -0.5pt">F </FONT>or 40-<FONT STYLE="letter-spacing: -0.25pt">F.</FONT></P>

<P STYLE="margin: 0pt 2.3pt 0pt 21.25pt; font-size: 10pt; text-align: center"><FONT STYLE="letter-spacing: -0.25pt">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Form 20-F <U>&check;</U>
Form 40-<FONT STYLE="letter-spacing: -0.5pt">F</FONT><U> &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</U></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 5.7pt 0pt 5.95pt">The attached material is being furnished to the Securities and Exchange Commission
pursuant to Rule 13a- 16 and Form 6-K under the Securities Exchange Act of 1934, as amended. This report contains Tenaris&#8217;s
Notice of the Annual General Meeting of Shareholders and on an Extraordinary General Meeting of Shareholders to be held on 6<SUP>th</SUP>
May 2025 and the Shareholder Meeting Brochure and Proxy <FONT STYLE="letter-spacing: -0.1pt">Statement.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="letter-spacing: -0.1pt">SIGNATURE</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 6pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant
has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 6pt"><B>Date: April 4, <FONT STYLE="letter-spacing: -0.2pt">2025</FONT></B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">Tenaris, <FONT STYLE="letter-spacing: -0.2pt">S.A.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: -0.05pt; margin: 0pt 299.45pt 0pt 6pt">By: /s/ Giovanni Sardagna</P>

<P STYLE="margin: 0pt 299.45pt 0pt 6pt; font-size: 10pt; text-indent: -0.05pt">Giovanni Sardagna</P>

<P STYLE="margin: 0pt 299.45pt 0pt 6pt; font-size: 10pt; text-indent: -0.05pt">Investor Relations
Officer</P>



<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Tenaris S.A.</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Soci&eacute;t&eacute; Anonyme</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">26, Boulevard Royal, 4<SUP>th</SUP> Floor.</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">L-2449 Luxembourg</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">RCS Luxembourg B 85 203</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 8.4pt 0pt 0"><B>NOTICE OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS AND OF
AN EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 8.4pt 0pt 0"><B>to be held in Luxembourg on 6<SUP>th</SUP> May 2025</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Notice is hereby given to holders of ordinary shares of Tenaris S.A. (the
&ldquo;Company&rdquo;) that the Annual General Meeting of Shareholders of the Company will be held on 6<SUP>th</SUP> May 2025, at 10:00
(Central European Time) and that an Extraordinary General Meeting of Shareholders of the Company will be held immediately after the adjournment
of the Annual General Meeting of Shareholders. Both meetings (the &ldquo;Meetings&rdquo;) will be held at the Company&rsquo;s registered
office located at 26, Boulevard Royal, 4<SUP>th</SUP> Floor, L-2449 Luxembourg, Grand-Duchy of Luxembourg.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">At the Annual General Meeting of Shareholders, shareholders will vote on
the items listed below under the heading &ldquo;Agenda for the Annual General Meeting of Shareholders&rdquo;. At the Extraordinary General
Meeting of Shareholders, shareholders will vote on the items listed below under the heading &ldquo;Agenda for the Extraordinary General
Meeting of Shareholders&rdquo;.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; color: #009900"><B>Agenda for the Annual General Meeting of Shareholders</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; color: #009900"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">1.</TD><TD STYLE="text-align: justify">Consideration of the Company&rsquo;s consolidated annual report for the year ended 31<SUP>st</SUP> December
2024, which includes the consolidated management report containing the financial and non-financial information required by applicable
law; the related management certifications on the Company&rsquo;s consolidated financial statements as of and for the year ended 31<SUP>st</SUP>
December 2024, and on the annual accounts as at 31<SUP>st</SUP> December 2024; and the external auditors&rsquo; reports on such consolidated
financial statements and annual accounts.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">2.</TD><TD STYLE="text-align: justify">Approval of the Company&rsquo;s consolidated financial statements as of and for the year ended 31<SUP>st</SUP>
December 2024.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">3.</TD><TD STYLE="text-align: justify">Approval of the Company&rsquo;s annual accounts as at 31<SUP>st</SUP> December 2024.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">4.</TD><TD STYLE="text-align: justify">Allocation of results and approval of dividend payment for the year ended 31<SUP>st</SUP> December 2024.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">5.</TD><TD STYLE="text-align: justify">Discharge of the members of the Board of Directors for the exercise of their mandate throughout the year
ended 31<SUP>st</SUP> December 2024.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">6.</TD><TD STYLE="text-align: justify">Election of the members of the Board of Directors.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">7.</TD><TD STYLE="text-align: justify">Approval of the compensation payable to the members of the Board of Directors for the year ending 31<SUP>st</SUP>
December 2025.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">8.</TD><TD STYLE="text-align: justify">Approval of the Company&rsquo;s compensation report for the year ended 31<SUP>st</SUP> December 2024.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">9.</TD><TD STYLE="text-align: justify">Appointment of the Company&acute;s statutory auditors for the fiscal year ending 31<SUP>st</SUP> December
2025, and approval of their fees.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

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<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">10.</TD><TD STYLE="text-align: justify">Authorization to the Company, or any subsidiary, to purchase, acquire or receive securities of the Company,
in accordance with Article 49-2 of the Luxembourg law of 10 August 1915 and with applicable laws and regulations.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 28.35pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">11.</TD><TD STYLE="text-align: justify">Authorization to the Board of Directors to cause the distribution of all shareholder communications, including
its shareholder meeting and proxy materials and annual reports to shareholders, by such electronic means as is permitted by any applicable
laws or regulations.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 28.35pt"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; color: #009900"><B>Agenda for the Extraordinary General Meeting of Shareholders</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; color: #009900"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">1.</TD><TD STYLE="text-align: justify">Approval of (a) the cancellation of 90,762,598 ordinary shares held in treasury, acquired by the Company
throughout (i) the second, third and fourth tranches of the share buyback program, which ran from 6<SUP>th</SUP> November 2023 to 2<SUP>nd</SUP>
August 2024, and (ii) the follow-on share buyback program, which ran from 11<SUP>th</SUP> November 2024 to 4<SUP>th</SUP> March 2025,
and (b) consequential reduction of the issued share capital of the Company by an amount of US$ 90,762,598 so as to bring it from its current
amount of US$1,162,757,528 to US$ 1,071,994,930, represented by 1,071,994,930 ordinary shares with a nominal value of US$1.00 per share.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">2.</TD><TD STYLE="text-align: justify">Decision on the renewal of the authorized share capital of the Company and related authorizations and
waivers by:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 27pt">a.</TD><TD STYLE="text-align: justify">the renewal of the validity period of the Company&rsquo;s authorized share capital for a period starting
on the date of the Extraordinary General Meeting of Shareholders and ending on the fifth anniversary of the date of the publication in
the <I>Recueil &eacute;lectronique des soci&eacute;t&eacute;s et associations</I> (RESA) of the deed recording the minutes of such meeting;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 27pt">b.</TD><TD STYLE="text-align: justify">the renewal of the authorization to the board of directors, or any delegate (s) duly appointed by the
board of directors, for a period starting on the date of the Extraordinary General Meeting of Shareholders and ending on the fifth anniversary
of the date of the publication in the RESA of the deed recording the minutes of such meeting, from time to time to issue shares within
the limits of the authorized share capital against contributions in cash, contributions in kind or by way of incorporation of available
reserves at such times and on such terms and conditions, including the issue price, as the board of directors or its delegate (s) may
in its or their discretion resolve;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 27pt">c.</TD><TD STYLE="text-align: justify">the renewal of the authorization to the board of directors, for a period starting on the date of the Extraordinary
General Meeting of Shareholders and ending on the fifth anniversary of the date of the publication in the RESA of the deed recording the
minutes of such meeting, to waive, suppress or limit any pre-emptive subscription rights of shareholders provided for by law to the extent
it deems such waiver, suppression or limitation advisable for any issue or issues of shares within the authorized share capital; waiver
of any pre-emptive subscription rights provided for by law and related procedures;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 27pt">d.</TD><TD STYLE="text-align: justify">the decision that any issuance of shares for cash within the limits of the authorized share capital shall
be subject by provision of the Company&rsquo;s articles of association to the pre-emptive subscription rights of the then existing shareholders,
except in the following cases (in which cases no pre-emptive rights shall apply):</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 22.5pt">i.</TD><TD STYLE="text-align: justify">any issuance of shares (including, without limitation, the direct issuance of shares or upon the exercise
of options, rights convertible into shares, or similar instruments convertible or exchangeable into shares) against a contribution other
than in cash; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 22.5pt">ii.</TD><TD STYLE="text-align: justify">any issuance of shares (including by way of free shares or at discount), up to an amount of 1.5% of the
issued share capital of the Company, to directors, officers, agents, employees of the Company, its direct or indirect subsidiaries, or
its affiliates (collectively, the &ldquo;Beneficiaries&rdquo;), including without limitation the direct issuance of shares or upon the
exercise of options, rights convertible into shares, or similar instruments convertible or exchangeable into shares issued for the purpose
of compensation or incentive of the Beneficiaries or in relation thereto (which the Board of Directors shall be authorized to issue upon
such terms and conditions as it deems fit); and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 26.95pt"></TD><TD STYLE="width: 26.95pt">e.</TD><TD STYLE="text-align: justify">the acknowledgement and approval of the report of the Board of Directors in relation with the authorized
share capital and the proposed authorizations to the Board of Directors with respect to any issuance of shares within the authorized share
capital while suppressing any pre-emptive subscription rights of existing shareholders under law and related waiver.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -26.95pt; margin: 0pt 0 0pt 53.9pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">The amendment of article 5 &ldquo;<I>Share Capital</I>&rdquo; of the Company&rsquo;s articles of association
to reflect the resolutions on items 1 and 2 of the agenda.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; margin: 0pt 0; color: #009900"><B>Meetings: vote requirements</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Resolutions at the Annual General Meeting of Shareholders will be passed
by the simple majority of the votes validly cast, irrespective of the number of shares present or represented.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The Extraordinary General Meeting of Shareholders may not validly deliberate
on the proposed amendment of the Company&rsquo;s articles of association unless at least half of the issued share capital is represented,
unless otherwise provided for by applicable law. If the required quorum is not reached at the first Extraordinary General Meeting of Shareholders,
a second Extraordinary General Meeting of Shareholders may be convened in accordance with the Company&rsquo;s articles of association
and applicable law and such second Extraordinary General Meeting of Shareholders shall validly deliberate regardless of the number of
shares represented. Resolutions at the Extraordinary General Meeting of Shareholders shall be adopted by a two-thirds majority of the
votes validly cast, unless otherwise provided for by applicable law.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; margin: 0pt 0; color: #009900"><B>Holders of Shares: procedures for attending and voting
at the Meetings</B></P>

<P STYLE="font-size: 10pt; text-align: left; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>In accordance with the Luxembourg Law of 24 May 2011 on the exercise
of certain rights of shareholders in general meetings of listed companies, as amended (the &ldquo;<U>Shareholders&rsquo; Rights Law</U>&rdquo;),
the right to attend, speak and vote at the Meetings is restricted to those shareholders who are holders of shares of the Company on 22<SUP>nd</SUP>
April 2025 at 24:00 (midnight), Central European Time (the &ldquo;<U>Shareholders&rsquo; Record Time</U>&rdquo;).</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Shareholders will only be entitled to attend and/or to vote (personally
or by proxy) at one or both Meetings in respect of those shares of the Company which each shareholder duly evidences to hold at the Shareholders&rsquo;
Record Time. Any changes to a shareholder&rsquo;s holding of shares after the Shareholders&rsquo; Record Time shall be disregarded for
purposes of determining the right of such shareholder to attend and/or to vote (personally or by proxy) at the Meetings.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Set out below are instructions on how to attend and/or vote (personally
or by proxy) at one or both Meetings.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">If you are a holder of shares of the Company on the Shareholders&rsquo;
Record Time and you wish to attend and/or vote (personally or by proxy) at the Meetings, you must complete and return to the Company:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.4pt"></TD><TD STYLE="width: 18pt">i.</TD><TD STYLE="text-align: justify">the Intention to Participate Form, if you wish to attend the Meetings; <U>and/or</U></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 46.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.4pt"></TD><TD STYLE="width: 18pt">ii.</TD><TD STYLE="text-align: justify">the AGMS/EGMS Proxy Form, if you wish to vote by proxy at the Meetings.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Shareholders <B>wishing to attend </B>one or both Meetings
must complete and return to the Company the Intention to Participate Form. The Intention to Participate Form must be received by the Company,
properly completed and signed, <B>ON OR BEFORE 22<SUP>nd</SUP> APRIL 2025 AT 24:00 (MIDNIGHT), CENTRAL EUROPEAN TIME (i.e., THE SHAREHOLDERS&rsquo;
RECORD TIME)</B>. Shareholders who have timely submitted the Intention to Participate Form may elect either to (i) attend one or both
Meetings and vote in person (in which case the shareholder is <B><U>not </U></B>required to submit the AGMS/EGMS Proxy Form), or (ii)
have a proxy holder attend one or both Meetings in person and vote by proxy, in which case shareholders must also submit (in addition
to the Intention to Participate Form) the AGMS/EGMS Proxy Form as soon as possible and, in any event, must be received by the Company
<B>ON OR BEFORE 28<SUP>th</SUP> APRIL 2025 AT 24:00 (MIDNIGHT), CENTRAL EUROPEAN TIME</B>. <B>Please note that in the event that the Company
does not receive the Intention to Participate Form and, if applicable, the AGMS/EGMS Proxy Form, properly completed and signed, by the
dates indicated above, such shareholder will not be able to participate or vote (neither in person nor by proxy) at the Meetings</B>.
Shareholders and proxy holders attending the Meetings in person will be required to identify themselves at the Meetings with a valid official
identification document (e.g., identity card or passport). In the event of shares registered to the name of a corporation or any other
legal entity, individuals representing such corporation or legal entity who wish to attend the Meetings in person and vote at the Meetings
on behalf of such legal entity, must submit &ndash;in addition to the Intention to Participate Form and the AGMS/EGMS Proxy Form, as indicated
above- a legal evidence of their authority to represent the shareholder at the Meetings (such as a general or special power-of-attorney
or any other proper document) issued by the such legal entity (the &ldquo;<U>Power of Attorney</U>&rdquo;). A copy of the Power of Attorney
must be received by the Company on or before <B>28<SUP>th</SUP> APRIL 2025 AT 24:00 (MIDNIGHT), CENTRAL EUROPEAN TIME</B>.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Shareholders who do not wish to attend the Meetings but nonetheless <B>wish
to vote by proxy at one or both Meetings</B> must only complete and return to the Company the AGMS/EGMS Proxy Form (and do not need to
submit the Intention to Participate Form nor a Power of Attorney), which must be received by the Company <B>ON OR BEFORE 22<SUP>nd</SUP>
APRIL 2025 AT 24:00 (MIDNIGHT), CENTRAL EUROPEAN TIME (i.e., THE SHAREHOLDERS&rsquo; RECORD TIME)</B>. <B>Please note that in the event
that the Company does not receive the AGMS/EGMS Proxy Form, properly completed and signed, by the date indicated above, such shareholder
will not be able to vote (neither in person nor by proxy) at any Meeting</B>.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">In addition, any shareholder wishing to attend and/or
vote (personally or by proxy) at one or both Meetings is required to provide reasonably satisfactory evidence to the Company (prior to
the Meetings) as to the number of shares of the Company held by such shareholder on the Shareholders&rsquo; Record Time. Such evidence
of shareholding must be provided by means of a certificate issued by each shareholder&rsquo;s bank or stockbroker, which must include
at least the shareholder&rsquo;s name, the shareholder&rsquo;s registered office/address, the number of shares held by the shareholder
on the Shareholders&rsquo; Record Time, the stock exchange on which the shareholder&rsquo;s shares trade and signature of the relevant
shareholder&rsquo;s bank or stockbroker (the &ldquo;<U>Certificate of Shareholding</U>&rdquo;). The Certificate of Shareholding must be
delivered to the Company as soon as possible and in any event must be received by the Company <B>ON OR BEFORE 28<SUP>th</SUP> APRIL 2025
AT 24:00 (MIDNIGHT), CENTRAL EUROPEAN TIME</B>.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0"><FONT STYLE="color: Black"><B><I>In compliance with
the Shareholders&rsquo; Rights Law and other applicable laws and regulations, this convening notice (which contains the agendas for the
Meetings and the procedures for attending and/or voting at the Meetings), the total number of shares of the Company and voting rights
as of the date of this notice, the Shareholder Meeting Brochure and Proxy Statement (which contains reports on each item of the agendas
for the Meetings and draft resolutions proposed to be adopted at the Meetings), the Company&rsquo;s 2024 consolidated annual report (which
includes the consolidated management report containing the financial and non-financial information required by applicable law, the Company&rsquo;s
consolidated financial statements as of and for the year ended 31<SUP>st</SUP> December 2024, and the Company&rsquo;s annual accounts
as at 31<SUP>st</SUP> December 2024, together with the external auditors&rsquo; reports and certifications), the 2024 Compensation Report,
the report of the Company&rsquo;s board of directors in connection with the proposed waiver of, suppression of, and authorization to
suppress or limit, pre-emptive subscription rights by the existing shareholders, the proposed amendments to the Company&rsquo;s articles
of association, the Intention to Participate Form, the AGMS/EGMS Proxy Form and the model Certificate of Shareholding, required to be
submitted to the Company for purposes of participating and/or voting at the Meetings, are available to shareholders as of the date of
this notice, and may be obtained free of charge from the Company&rsquo;s website at ir.tenaris.com/corporate-governance/annual-general-meeting
or at the Company&rsquo;s registered office in Luxembourg. In addition, shareholders registered in the Company&rsquo;s registry may obtain
electronic copies of these documents free of charge by sending an electronic message to the following electronic addresses: investors@tenaris.com
and fgbettiol@tenaris.com.</I></B></FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0"><FONT STYLE="color: Black">The Intention to Participate
Form and, if applicable, the Power of Attorney (if you wish to attend the Meetings), the AGMS/EGMS Proxy Form (if you wish to be represented
and vote by proxy at the Meetings) and the Certificate of Shareholding must be received by the Company, properly completed and signed,
by the dates indicated above, at any of the following postal addresses, or by electronic message to the following electronic addresses:
investors@tenaris.com <B><I>and fgbettiol@tenaris.com</I></B>.</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 49.6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 49.6pt"><U>Luxembourg</U>:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 49.6pt">26, Boulevard Royal, 4<SUP>th</SUP> Floor,</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 49.6pt">L-2449 Luxembourg</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 49.6pt">Attn: Ana Mar&iacute;a Grandes Mu&ntilde;oz
and/or Lavinia Brege</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 49.6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 49.6pt"><U>Italy</U>:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 49.6pt">c/o Dalmine S.p.A.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 49.6pt">Piazza Caduti 6 luglio 1944 n. 1 24044</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 49.6pt">Dalmine (BG)</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 49.6pt">Attn: Marco Maria Domenico Tajana and/or Francesco
Giuseppe Bettiol</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 49.6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 49.6pt"><U>Mexico</U>:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 49.6pt">c/o Tubos de Acero de M&eacute;xico, S.A.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 49.6pt">Campos El&iacute;seos 400-Piso 17</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 49.6pt">Col. Chapultepec Polanco</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 49.6pt">11560 Ciudad de M&eacute;xico</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 49.6pt">Attn: Ulises Mart&iacute;nez Mart&iacute;nez
and/or Carol B. Clemente Bejarano</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 49.6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 49.65pt">In the case of shares held through fungible
securities accounts in Mexico, the Certificate of Shareholding must be issued by S.D. Indeval Instituci&oacute;n para el Dep&oacute;sito
de Valores S.A. de C.V. (Paseo de la Reforma #255, 3er. piso Col. Cuauht&eacute;moc, Mexico City) in accordance with applicable regulation.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The AGMS/EGMS Proxy Form will only be valid if it includes the shareholder&rsquo;s
name, registered office/address and signature and, in the event of shares owned by a corporation or any other legal entity, the name,
registered office/address and signature of the individual (s) representing such corporation or other legal entity. <FONT STYLE="text-transform: uppercase">Incomplete
or erroneous <B>AGMS/EGMS Proxy Forms or AGMS/EGMS Proxy Forms THAT are not timely delivered or do not satisfy the required formalities
will be discarded and the underlying shares WILL not be voted at the Meetings</B></FONT><B>.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">A shareholder&rsquo;s proxy holder shall enjoy the same rights to speak
and ask questions at the Meetings as those afforded to the respective shareholder. <B>Pursuant to the Shareholders&rsquo; Rights Law,
irrespective of the number of shares held, a shareholder may appoint only one proxy holder to represent such shareholder at the Meetings</B>,
except that:</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.25pt"></TD><TD STYLE="width: 28.35pt">(i)</TD><TD STYLE="text-align: justify">if a shareholder holds shares of the Company through more than one securities account, such shareholder
may appoint one proxy holder for each securities account; and</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 49.6pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.25pt"></TD><TD STYLE="width: 28.35pt">(ii)</TD><TD STYLE="text-align: justify">a shareholder acting professionally for the account of a natural person or legal entity may appoint such
natural person or legal entity, or any other third party designated by them, as proxy holder.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">A person acting as shareholder&rsquo;s proxy holder may represent one or
more shareholders. In the event a person represents more than one shareholder, such proxy holder may vote the shares of the represented
shareholders differently, in accordance with the instructions given to such proxy holder by each shareholder such person represents.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Each share is indivisible for purposes of attending and voting at the Meetings.
Co-owners of shares, beneficiaries and bare-owners of shares, and pledgors and pledgees of pledged shares must be represented by one single
person at the Meetings.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">In accordance with the Shareholders&rsquo; Rights Law, shareholders holding,
individually or collectively, at least five per cent (5%) of the issued shares of the Company have the right to (a) include items on the
agenda for the Meetings; and (b) propose draft resolutions for the items included or to be included on the agenda for the Meetings. To
exercise such rights, shareholders holding, individually or collectively, at least five per cent (5%) of the issued shares of the Company,
must submit a written request to the Company <B>on or before 14<FONT STYLE="text-transform: uppercase"><SUP>th</SUP></FONT> April 2025</B>,
to any of the postal addresses of the Company indicated above, or by sending an electronic message to the following electronic addresses:
investors@tenaris.com and fgbettiol@tenaris.com. The request must be accompanied by a justification or a draft resolution proposed to
be adopted in the Meetings and must include the postal or electronic address at which the Company can acknowledge receipt of such request.
Requests which are not timely delivered or do not satisfy the required formalities will be discarded and the proposals included in such
requests shall not be included in the agenda for the Meetings.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">In accordance with the Shareholders&rsquo; Rights Law, shareholders (or
their proxy holders) will have the right to ask questions at the Meetings on the items of the agendas for the Meetings. The right to ask
questions, and the Company&rsquo;s duty to answer any such questions, are subject to the procedures adopted by the Company to ensure the
proper identification of shareholders (and their proxy holders), the good order of the Meetings, as well as the protection of confidentiality
of the Company&rsquo;s business and the safeguarding of the Company&rsquo;s corporate interests.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; margin: 0pt 0; color: #009900"><B>Holders of ADRs: procedures for voting at the Meetings</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Holders of American Depositary Receipts (&ldquo;<U>ADRs</U>&rdquo;) as
of <B>22<SUP>nd</SUP> April 2025 </B>(the <B>&ldquo;<U>ADR Holders&rsquo; Record Date</U>&rdquo;</B>) are entitled to instruct DEUTSCHE
BANK TRUST COMPANY AMERICAS, as Depositary (the &ldquo;<U>Depositary</U>&rdquo;), as to the exercise of the voting rights in respect of
the Company&rsquo;s shares underlying such holder&rsquo;s ADRs. Only those ADR holders of record as of the ADR Holders&rsquo; Record Date
will be entitled to provide the Depositary with voting instructions.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Proxy materials will be available to ADR holders as of the date of this
notice on the Company&rsquo;s website at ir.tenaris.com/corporate-governance/annual-general-meeting. Voting instructions and voting cards
will be sent to ADR holders by the Depositary. Eligible ADR holders who wish to give voting instructions in respect of the shares underlying
ADRs must follow the instructions and meet the deadlines set forth in such voting instructions and voting cards.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>In accordance with the Luxembourg law of 11 January 2008 on transparency
obligations for issuers of securities, as amended, each shareholder of the Company must notify the Company and the Luxembourg <I>Commission
de Surveillance du Secteur Financier </I>(CSSF) on an ongoing basis whenever the proportion of the Company&rsquo;s voting rights held
or controlled by such shareholder (or shareholders acting in concert) reaches, exceeds or falls below any of the following thresholds:
5%, 10%, 15%, 20%, 25%, 33 1/3%, 50% and 66 2/3%. Any such notification shall be made as indicated in the Company&rsquo;s website at
<FONT STYLE="color: Black">tenaris.com/en/sustainability/governance-and-ethics/</FONT> and in accordance with CSSF regulations. Failure
to make such notification will cause the suspension of the exercise of voting rights relating to the shares exceeding the proportion
that should have been notified.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">On 4<SUP>th</SUP> April 2025, the Company had a total issued share capital
of US$ 1,162,757,528, represented by 1,162,757,528 shares, each share carrying one vote.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Cecilia Bilesio</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Secretary of the Board of Directors</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">4<SUP>th</SUP> April 2025</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Luxembourg</P>



<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 28.35pt"><B>Tenaris S.A.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 28.35pt"><I>Soci&eacute;t&eacute; Anonyme</I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 28.35pt">26, Boulevard Royal, 4th Floor</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 28.35pt">L-2449 Luxembourg</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 28.35pt">RCS Luxembourg B 85 203</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 82.05pt 0pt 28.35pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 82.05pt 0pt 28.35pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 82.05pt 0pt 28.35pt">Dear Tenaris Shareholder and ADR Holder,</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 82.05pt 0pt 14.2pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 49.6pt 0pt 28.35pt">I am pleased to invite you to attend the Annual General
Meeting of Shareholders and an Extraordinary General Meeting of Shareholders of Tenaris S.A. (the &ldquo;<U>Company</U>&rdquo;), both
to be held on Tuesday 6<FONT STYLE="font-size: 10pt">th</FONT> May 2025, at the Company&rsquo;s registered office located at 26, Boulevard
Royal, 4<SUP>th</SUP> Floor, L-2449 Luxembourg, Grand-Duchy of Luxembourg (the &ldquo;<U>Meetings</U>&rdquo;). The Annual General Meeting
of Shareholders will begin at 10:00 (Central European time) and the Extraordinary General Meeting of Shareholders will be held immediately
after the adjournment of the Annual General Meeting of Shareholders.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 49.6pt 0pt 28.35pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 49.6pt 0pt 28.35pt">At the Annual General Meeting of Shareholders, you will
be able to consider or vote on various matters, including the Company&rsquo;s 2024 consolidated annual report, the Company&rsquo;s consolidated
financial statements and annual accounts, the allocation of results and dividends payment, the composition and compensation of the Company&rsquo;s
board of directors, the 2024 compensation report, and the appointment of the Company&rsquo;s statutory auditor for the year 2025 and related
fees. Subsequently, the Extraordinary General Meeting of Shareholders will vote on the cancellation of shares held in treasury and the
consequential reduction of the Company&rsquo;s issued share capital, the renewal of the authorized share capital of the Company and related
authorization and waivers, and the consequential amendment to the articles of association.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 49.6pt 0pt 28.35pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 49.6pt 0pt 28.35pt">The convening notice of the Meetings (which contains
the agenda for the Meetings and the procedures for attending and/or voting at one or both Meetings), this Shareholder Meeting Brochure
and Proxy Statement, the forms required for purposes of participating and/or voting at one or both Meetings, as well as all the reports
and all other information required to be submitted to shareholders in connection with the Meetings are available to shareholders as of
the date of the convening notice, and may be obtained free of charge from the Company&rsquo;s website at ir.tenaris.com/corporate-governance/annual-general-meeting
or at the Company&rsquo;s registered office in Luxembourg. In addition, shareholders registered in the Company&rsquo;s registry can obtain
electronic copies of these documents free of charge by sending an electronic message to the following electronic addresses: investors@tenaris.com
and fgbettiol@tenaris.com.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 49.6pt 0pt 28.35pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 49.6pt 0pt 28.35pt">I believe that stakeholder participation and long-term
engagement is key to the success of every company. Even if you only own a few shares or ADRs, I hope that you will exercise your right
to vote or instruct voting at one or both Meetings. If you are a holder of shares on 22<SUP>nd</SUP> April 2025, at 24:00 (midnight),
Central European Time, you can attend and/or vote, personally or by proxy, at one or both Meetings. If you are a holder of ADRs, please
see the letter from Deutsche Bank Trust Company Americas, the depositary bank, or contact your broker/custodian, for instructions on how
to exercise the voting rights in respect of the shares underlying your ADRs.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 49.6pt 0pt 28.35pt">&nbsp;</P>

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<P STYLE="margin: 0pt 49.6pt 0pt 28.35pt; font-size: 10pt; text-align: justify"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 49.6pt 0pt 28.35pt">Please note the requirements you must satisfy to attend
and/or vote your shares or ADRs at one or both the Meetings.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 49.6pt 0pt 28.35pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 49.6pt 0pt 28.35pt">Yours sincerely,</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 49.6pt 0pt 28.35pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 49.6pt 0pt 28.35pt"><B>Paolo Rocca</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 49.6pt 0pt 28.35pt">Chairman and Chief Executive Officer</P>

<P STYLE="font-size: 10pt; text-indent: 28.35pt; margin: 0pt 0">4<SUP>th</SUP> April 2025</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; text-align: center; color: navy"><IMG SRC="db-hdr.jpg" ALT="">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 13.35pt 0pt 0; color: navy">April 04, 2025</P>

<P STYLE="border-bottom: Black 1pt solid; font-size: 18pt; color: navy; margin: 0pt 0 0pt 21.15pt">Tenaris SA&#9;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 21.15pt"><FONT STYLE="color: gray"><I>Please be advised of the following</I></FONT> <B>Final
Depositary's Notice of Annual &amp; Extraordinary General Meetings of Shareholders:</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: -1.65pt; margin: 0pt 0 0pt 22.75pt"><FONT STYLE="color: navy"><B>Depositary Receipt Information</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 20%; font-size: 10pt; font-weight: bold; text-indent: -1.65pt; padding-left: 22.75pt">CUSIP:</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 19%; font-size: 10pt; text-align: left">88031M109</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 19%; font-size: 10pt; text-align: left">(DTC Eligible)</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 19%; font-size: 10pt; font-weight: bold; text-align: left">ADS ISIN:</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 19%; font-size: 10pt">US88031M1099</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-indent: -1.65pt; padding-left: 22.75pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 20%; font-size: 10pt; font-weight: bold; padding-left: 22.5pt">Country of Incorporation:</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 79%; font-size: 10pt">Luxembourg</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; padding-left: 22.5pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 20%; font-size: 10pt; font-weight: bold; text-align: left; padding-left: 23pt">Meeting Details:</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 79%; font-size: 10pt; text-align: left">Annual General Meetings of Shareholders and Extraordinary General Meetings of Shareholders currently scheduled for May 6, 2025</TD></TR>
  </TABLE>


<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 20%; font-size: 10pt; font-weight: bold; text-align: left; padding-left: 22.75pt">Distribution Date:</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 79%; font-size: 10pt">March 28, 2025</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-left: 22.75pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-left: 22.75pt">ADS Record Date</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">April 22, 2025</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-left: 22.75pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-left: 22.75pt">Voting Deadline:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">April 29, 2025 at 1:00 PM EST (Eastern Standard Time)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-left: 22.75pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-left: 22.75pt">Meeting Date:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">May 06, 2025 starting at 10:00 AM (Central European Time)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-left: 22.75pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; text-indent: -119.85pt; padding-left: 142.6pt">Meeting Agenda</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">The Company's Notice of Meeting, including the Agenda, is available at the Company&#8217;s website: http://www.tenaris.com</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; text-indent: -119.85pt; padding-left: 142.6pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-left: 23.5pt">Ratio (ORD:ADS):</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">2 : 1</TD></TR>
  </TABLE>


<P STYLE="margin: 0pt 0 0pt 23.5pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 79.15pt 0pt 23.5pt; font-size: 10pt">Deutsche Bank Trust Company Americas, as depositary (the
&quot;Depositary&quot;) for the American Depositary Share (&quot;ADS&quot;) program of Tenaris S.A. (the &quot;Company&quot;) has
received notice from the Company of an Annual General Meeting of Shareholders and of an Extraordinary General Meeting of
Shareholders (the &quot;Meetings&quot;) currently scheduled on the date set forth above. A copy of the notice of the Meetings is
available on the Company's website at ir.tenaris.com/corporate-governance/annual-general-meeting.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 79.15pt 0pt 23.5pt">In accordance with the provisions of the Amended and Restated Deposit Agreement,
dated as of March 13, 2013, among the Company, the Depositary, and all registered owners (&quot;Owners&quot;) and holders from time to
time of ADSs issued thereunder (the &quot;Deposit Agreement&quot;), Owners of ADSs representing ordinary shares of the Company (&quot;Shares&quot;),
at the close of business (Eastern Standard Time) on the ADS Record Date set forth above, will be entitled, subject to any applicable provision
of Luxembourg law, the Company's articles of association and the provisions governing the Shares, to instruct the Depositary as to the
exercise of the voting rights pertaining to the number of Shares represented by their respective ADSs. A voting instruction form is enclosed
for that purpose.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 79.15pt 0pt 23.5pt">Although the Company has instructed the Depositary to mail voting
instruction materials to Owners of record at the Distribution Date set forth above, voting instructions will only be accepted and
counted for positions held by those Owners on the ADS Record Date set forth above. Voting instructions must be received by the
Depositary on or before the Voting Deadline set forth above. Owners are advised that if the number of ADSs held by an Owner on the
ADS Record Date set forth above differs from that on the Distribution Date, the Depositary will only apply such voting instructions
to those ADSs held by such Owner on the ADS Record Date. Owners on the ADS Record Date that were not Owners on the Distribution Date
may only be able to provide voting instructions electronically.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: -2.3pt; margin: 0pt 90.65pt 0pt 25.8pt">Note that Owners may only provide voting instructions
on particular agenda items in respect of all of their ADSs and may not split voting instructions on a particular agenda item.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 90.65pt 0pt 23.5pt">With respect to any voting instructions received by the Depositary on or prior
to the Voting Deadline set forth above, the Depositary shall endeavor, insofar as practicable, to vote or cause to be voted the number
of Shares represented by the ADSs in accordance with such voting instructions.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 78.55pt 0pt 23.5pt">Owners are advised that, pursuant to the provisions of the Deposit
Agreement, if voting instructions are not timely received by the Depositary from an Owner on or before the Voting Deadline set forth
above with respect to the Shares represented by such Owner's ADS on the ADS Record Date, in accordance with the provisions of the
Deposit Agreement a proxy will be provided to a person designated by the Company with respect to the Shares, to vote that amount of
Shares in favor of any proposals or recommendations of the Company (including any recommendation by the Company to vote Shares on
any issue in accordance with the majority shareholders' vote on that issue) as determined by such appointed proxy, except that such
instruction shall not be deemed to have been given and the Depositary shall not give a proxy with respect to any matter as to which
the Company informs the Depositary that (x) the Company does not wish to receive such proxy, (y) the Company has knowledge that
substantial opposition exists with respect to the action to be taken at the meeting or (z) the matter materially and adversely
affects the rights of holders of Shares. The Depositary shall have no obligation to notify Owners if it should receive any such
notification from the Company. The Company has instructed us that the appointed proxy will vote in the manner stated in the
Company's shareholder meeting brochure and proxy statement.</P>

<P STYLE="margin: 0pt 78.55pt 0pt 23.5pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin: 0pt 78.55pt 0pt 23.5pt; font-size: 10pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 79.15pt 0pt 23.5pt">Any Owner entitled to provide the Depositary with voting instructions in respect
of the Shares underlying its ADSs, is also entitled to revoke any instructions previously given to the Depositary by filing with the Depositary
a written revocation or submitting new instructions on a later date, in each case, at any time prior to the above referred Voting Deadline.
No instructions, revocations or revisions thereof shall be accepted by the Depositary after such Voting Deadline.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 90.65pt 0pt 23.5pt">The Company has also instructed the Depositary to notify Owners that the
convening notice, the Shareholder Meetings Brochure and Proxy Statement (which contains reports on each item of the agendas for the
Meetings and draft resolutions proposed to be adopted at the Meetings), the Company's 2024 annual report (which contains the
consolidated management report containing the financial and non-financial information required by applicable law, the Company's
consolidated financial statements as of and for the year ended December 31, 2024, and the Company's annual accounts as at December
31, 2024, together with the external auditors' reports and certifications), the Company's 2024 Compensation Report, the report of
the Company's board of directors in connection with the proposed waiver of, suppression of, and authorization to suppress or limit,
pre-emptive subscription rights by the existing shareholders, the proposed amendments to the Company's articles of association, are
available to Owners as of the date of the convening notice, and may be obtained free of charge from the Company's website at
ir.tenaris.com/corporate-governance/annual-general-meeting.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 111.25pt 0pt 23.5pt">Note: Subject to the below, voting instructions will only be counted for those
ADSs held on the ADS Record Date, although voting materials may have been received with respect to the distribution date used for the
initial mailing.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 102.15pt 0pt 23.5pt">Owners on the ADS Record Date that were not Owners on
the Distribution Date will receive voting materials promptly after the ADS Record Date, however due to the narrow timeframe between the
ADS Record Date and the Voting Deadline, such Owners may only provide voting instructions through electronic means (internet/phone).</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 84.9pt 0pt 22.75pt">Please note that persons beneficially holding ADSs through a bank, broker or
other nominee that wish to provide voting instructions with respect to the securities represented by such ADSs must follow the voting
instruction requirements of, and adhere to the deadlines set by, such bank, broker or other nominee. Such requirements and deadlines may
differ from those set forth herein for registered holders of ADSs.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 77.2pt 0pt 22.75pt">Holders and persons and/or entities having a beneficial interest in any ADS
(&#8220;Beneficial Owners&#8221;) are advised that (a) the Depositary has not reviewed the Company's website or any of the items thereon,
and is not liable for the contents thereof, (b) neither the Depositary nor any of its affiliates controls, is responsible for, endorses,
adopts, or guarantees the accuracy or completeness of any information contained in any document prepared by the Company or on the Company's
website and neither the Depositary nor any of its affiliates are or shall be liable or responsible for any information contained therein
or thereon, (c) there can be no assurance that Holders or Beneficial Owners generally or any Holder or Beneficial Owner in particular
will receive this notice with sufficient time to enable the Holder to return voting instructions to the Depositary in a timely manner,
and (d) the Depositary and its agents shall not be liable for any failure (provided that any such action or nonaction is in good faith
and without the Depositary's and/or its agent gross negligence and willful misconduct) to carry out any instructions to vote any of the
Deposited Securities, or for the manner in which any vote is cast or the effect of any vote.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 22.75pt; color: navy"><B>For further information, please contact:</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 484.55pt 0pt 22.75pt">Depositary Receipts</P>

<P STYLE="margin: 0pt 484.55pt 0pt 22.75pt; font-size: 10pt">Phone: (866) 249 2593</P>

<P STYLE="margin: 0pt 0 0pt 22.75pt; font-size: 10pt">adr@equiniti.com</P>


<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>Tenaris S.A.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><I>Soci&eacute;t&eacute; Anonyme</I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">26, Boulevard Royal, 4th Floor</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">L-2449 Luxembourg</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">RCS Luxembourg B 85 203</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 6.75pt 0pt 0; color: #009900"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 6.75pt 0pt 0; color: #009900"><FONT STYLE="font-size: 11pt"><B>Shareholder
Meeting Brochure and Proxy Statement</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 6.75pt 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 6.75pt 0pt 0"><B>Annual General Meeting of Shareholders and Extraordinary
General Meeting of Shareholders to be held on 6<SUP>th</SUP> May 2025</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">This Shareholder Meeting Brochure and Proxy Statement is furnished by Tenaris
S.A. (the &ldquo;<U>Company</U>&rdquo;) in connection with the Annual General Meeting of Shareholders of the Company and an Extraordinary
General Meeting of Shareholders of the Company (the &ldquo;<U>Meetings</U>&rdquo;), both to be held on 6<SUP>th</SUP> May 2025 at the
Company&rsquo;s registered office located at 26, Boulevard Royal, 4<SUP>th</SUP> Floor, L-2449 Luxembourg, Grand-Duchy of Luxembourg,
for the purposes set forth in the convening notice of the Meetings (the &ldquo;<U>Notice</U>&rdquo;). The Annual General Meeting of Shareholders
will begin at 10:00 (Central European Time) and the Extraordinary General Meeting of Shareholders will be held immediately after the adjournment
of the Annual General Meeting of Shareholders.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The Meetings have been convened by the Notice, which contains the agenda
for the Meetings and the procedures for attending and/or voting at the Meetings. The Notice has been published in Luxembourg and, where
applicable, in the markets where the shares of the Company, or other securities representing shares of the Company, are listed. A copy
of the Notice may be obtained free of charge from the Company&rsquo;s website at ir.tenaris.com/corporate-governance/annual-general-meeting
or at the Company&rsquo;s registered office in Luxembourg. In addition, shareholders registered in the Company&rsquo;s registry can obtain
electronic copies of these documents free of charge by sending an electronic message to the following electronic addresses: investors@tenaris.com
and fgbettiol@tenaris.com.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">As of the date hereof, there are 1,162,757,528<FONT STYLE="font-size: 10pt"><SUP>1</SUP></FONT>
issued ordinary shares, US$1 par value each, of the Company (the &ldquo;<U>Shares</U>&rdquo;), including the Shares deposited with various
agents (the &ldquo;<U>Deposited Shares</U>&rdquo;) for DEUTSCHE BANK TRUST COMPANY AMERICAS, as depositary (the &ldquo;<U>Depositary</U>&rdquo;),
under the Amended and Restated Deposit Agreement, dated as of 13<SUP>th</SUP> March 2013, among the Company, the Depositary and all registered
owners and holders from time to time of American Depositary Receipts (the &ldquo;<U>ADRs</U>&rdquo;) issued thereunder. The Deposited
Shares are represented by American Depositary Shares, which are evidenced by the ADRs (one ADR equals two Deposited Shares). Each Share
entitles the holder thereof to one vote at general meetings of shareholders of the Company.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">______________________</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><FONT STYLE="font-size: 10pt"><SUP>1</SUP></FONT> Includes treasury Shares repurchased by
the Company under its share buyback programs.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">In accordance with the Luxembourg law of 11 January 2008, as amended and
supplemented, on transparency obligations for issuers of securities (the &ldquo;<U>Transparency Law</U>&rdquo;), each shareholder of
the Company must notify the Company and the Luxembourg <I>Commission de Surveillance du Secteur Financier</I> (CSSF) on an ongoing basis
whenever the proportion of the Company&rsquo;s voting rights held or controlled by such shareholder (or shareholders acting in concert)
reaches, exceeds or falls below any of the following thresholds: 5%, 10%, 15%, 20%, 25%, 33 1/3%, 50% and 66 2/3%. Any such notification
shall be made as indicated in the Company&rsquo;s website at tenaris.com/en/sustainability/governance-and-ethics/ and in accordance with
CSSF regulations. Failure to make such notification will cause the suspension of the exercise of voting rights relating to the Shares
exceeding the proportion that should have been notified.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>


<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 6.75pt 0pt 0; color: #009900"><B>Holders of Shares: procedures for attending
and voting at one or both Meetings.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">In accordance with the Luxembourg law of 24 May 2011, on the exercise of
certain rights of shareholders in general meetings of listed companies (as amended by the Luxemburg Law of 1 August 2019, which transposed
into domestic law the provisions of the EU Directive 2017/828 of the European Parliament and of the Council of 17 May 2017 regarding the
encouragement of long-term shareholder engagement in listed companies within the Member States of the European Union) (the &ldquo;<U>Shareholders&rsquo;
Rights Law</U>&rdquo;), the right to attend, speak and vote at one or both Meetings is restricted to those shareholders who are holders
of Shares on <B>22<SUP>nd</SUP> April 2025 at 24:00 (midnight), Central European Time</B> (<B>the</B> &ldquo;<B><U>Shareholders&rsquo;
Record Time</U></B>&rdquo;).</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Shareholders will only be entitled to attend and/or to vote (personally
or by proxy) at one or both Meetings in respect of those Shares which each shareholder duly evidences to hold at the Shareholders&rsquo;
Record Time. Any changes to a shareholder&rsquo;s holding of Shares after the Shareholders&rsquo; Record Time shall be disregarded for
purposes of determining the right of such shareholder to attend and/or to vote (personally or by proxy) at one or both Meetings.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">If you are a holder of Shares on the Shareholders&rsquo; Record Time and
you wish to attend and/or vote (personally or by proxy) at one or both Meetings, you must complete and return to the Company:</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">i.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the Intention to Participate
Form, if you wish to attend one or both Meetings; and/or</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">ii.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the AGMS/EGMS Proxy Form,
if you wish to vote by proxy at one or both Meetings.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Shareholders wishing to attend one or both Meetings in person must complete
and return to the Company the Intention to Participate Form. The Intention to Participate Form must be received by the Company, properly
completed and signed, on or before <B>the Shareholders&rsquo; Record Time</B>. Shareholders who have timely submitted the Intention to
Participate Form, may elect either to (i) attend one or both Meetings and vote in person (in which case shareholders are not required
to submit the AGMS/EGMS Proxy Form), or (ii) have a proxy holder attend to one or both Meetings in person and vote by proxy, in which
case shareholders must also submit (in addition to the Intention to Participate Form) the AGMS/EGMS Proxy Form as soon as possible and,
in any event, must be received by the Company on or before <B>28<SUP>th</SUP> April 2025 at 24:00 (midnight), Central European Time</B>.
Please note that in the event that the Company does not receive the Intention to Participate Form and, if applicable, the AGMS/EGMS Proxy
Form, properly completed and signed, by the dates indicated above, such shareholder will not be able to participate or vote (neither in
person nor by proxy) at any Meeting.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">A shareholder who does not wish to attend the Meetings but nonetheless
<B>wishes to vote by proxy </B>at one or both Meetings must only complete and return to the Company the AGMS/EGMS Proxy Form (and do not
need to submit the Intention to Participate Form), which must be received by the Company on or before <B>the Shareholders&rsquo; Record
Time</B>. In the event that the Company does not receive the AGMS/EGMS Proxy Form, properly completed and signed, by the date indicated
above, you will not be able to vote (neither in person nor by proxy) at any Meeting. Shareholders and proxy holders attending one or both
Meetings in person, will be required to identify themselves at the Meetings with a valid official identification document (e.g., identity
card or passport). In the event of shares registered to the name of a corporation or any other legal entity, individuals representing
such corporation or legal entity who wish to attend one or both Meetings in person and vote at one or both Meetings on behalf of such
legal entity, must submit -in addition to the Intention to Participate Form and the AGMS/EGMS Proxy Form, as indicated above- a legal
evidence of their authority to represent the shareholder at any Meeting (such as a general or special power-of-attorney or any other proper
document) issued by the such legal entity (the &ldquo;<U>Power of Attorney</U>&rdquo;). A copy of the Power of Attorney must be received
by the Company on or before <B>28<SUP>th</SUP> April 2025 at 24:00 (midnight), Central European Time</B>.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Shareholders who do not wish to attend the Meetings but nonetheless wish
<B>to vote by proxy at one or both Meetings</B> must only complete and return to the Company the AGMS/EGMS Proxy Form (and do not need
to submit the Intention to Participate Form nor a Power of Attorney) which must be received by the Company on or before <B>the Shareholders&rsquo;
Record Time</B>. Please note that in the event that the Company does not receive the AGMS/EGMS Proxy Form, properly completed and signed,
by the date indicated above, such shareholder will not be able to vote (neither in person nor by proxy) at any Meeting.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">In addition, any shareholder wishing to attend and/or vote (personally
or by proxy) at one or both Meetings is required to provide reasonably satisfactory evidence to the Company (prior to the Meetings) as
to the number of Shares held by such shareholder on the Shareholders&rsquo; Record Time. Such evidence of shareholding must include at
least: the shareholder&rsquo;s name, the shareholder&rsquo;s registered office/address, number of Shares held by the shareholder on the
Shareholders&rsquo; Record Time, the stock exchange on which the shareholder&rsquo;s Shares trade and signature of the relevant shareholder&rsquo;s
bank or stockbroker (the &ldquo;<U>Certificate of Shareholding</U>&rdquo;). The Certificate of Shareholding must be delivered to the Company
as soon as possible and in any event must be received by the Company on or before <B>28<SUP>th</SUP> April 2025 at 24:00 (midnight), Central
European Time</B>.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The Intention to Participate Form (if you wish to attend one or both Meetings),
the AGMS/EGMS Proxy Form (if you wish to be represented and vote by proxy at one or both Meetings) and the Certificate of Shareholding
may be obtained free of charge from the Company&rsquo;s website at ir.tenaris.com/corporate-governance/annual-general-meeting or at the
Company&rsquo;s registered office in Luxembourg. In addition, shareholders registered in the Company&rsquo;s registry can obtain electronic
copies of these documents free of charge by sending an electronic message to the following electronic addresses: investors@tenaris.com
and fgbettiol@tenaris.com.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The forms and certificates must be received by the Company, properly completed
and signed, by the dates indicated above, at any of the postal addresses indicated in the Notice, or by electronic message to the following
electronic addresses: investors@tenaris.com and fgbettiol@tenaris.com.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">A shareholder&rsquo;s proxy holder shall enjoy the same rights to speak
and ask questions at one or both Meetings as those afforded to the respective shareholder. Pursuant to the Shareholders&rsquo; Rights
Law, irrespective of the number of Shares held, a shareholder may appoint only one proxy holder to represent such shareholder at one or
both Meetings, except that:</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">if a shareholder holds Shares through more than one securities account, such shareholder may appoint one
proxy holder for each securities account; and</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">a shareholder acting professionally for the account of a natural person or legal entity may appoint such
natural person or legal entity, or any other third party designated by them, as proxy holder.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">A person acting as shareholder&rsquo;s proxy holder may represent one or
more shareholders. In the event a person represents more than one shareholder, such proxy holder may vote the Shares of the represented
shareholders differently, in accordance with the instructions given to such proxy holder by each shareholder such person represents.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Each Share is indivisible for purposes of attending and voting at one or
both Meetings. Co-owners of Shares, beneficiaries and bare-owners of Shares, and pledgors and pledgees of pledged Shares must be represented
by one single person at one or both Meetings.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">A shareholder who has completed and delivered to the Company the AGMS/EGMS
Proxy Form, is entitled to, on a later date, (i) revoke such AGMS/EGMS Proxy Form, and/or (ii) replace such AGMS/EGMS Proxy Form with
a new AGMS/EGMS Proxy Form, appointing a different proxy holder and/or submitting new voting instructions, in each case, by delivering
to the Company a notice of revocation and/or a properly completed and signed replacement AGMS/EGMS Proxy Form, provided, that, in each
case, such notice of revocation and/or replacement AGMS/EGMS Proxy Form must be received by the Company by the dates indicated above,
at any of the postal addresses indicated in the Notice, or by electronic message to the following electronic addresses: investors@tenaris.com
and fgbettiol@tenaris.com. No revocations or replacement of the AGMS/EGMS Proxy Form shall be accepted by the Company if received after
such deadlines.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">In accordance with the Shareholders&rsquo; Rights Law, shareholders holding,
individually or collectively, at least five per cent (5%) of the issued Shares have the right to (a) include items on the agenda for
any Meeting; and (b) propose draft resolutions for the items included or to be included on the agenda for any Meeting. To exercise such
rights, shareholders holding, individually or collectively, at least five per cent (5%) of the issued Shares, must submit a written request
to the Company <B>on or before 14<SUP>th</SUP> April 2025</B>, to any of the postal addresses of the Company indicated in the Notice,
or by sending an electronic message to the following electronic addresses: investors@tenaris.com and fgbettiol@tenaris.com. The request
must be accompanied by a justification or a draft resolution proposed to be adopted in one or both Meetings and must include the postal
or electronic address at which the Company can acknowledge receipt of such request. Requests which are not timely delivered or do not
satisfy the required formalities will be discarded and the proposals included in such requests shall not be included in the agenda for
such Meeting.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">In accordance with the Shareholders&rsquo; Rights Law, shareholders (or
their proxy holders) will have the right to ask questions at one or both Meetings on the items of the agenda for the Meetings. The right
to ask questions and the Company&rsquo;s duty to answer any such questions are subject to the procedures adopted by the Company to ensure
the proper identification of shareholders (and their proxy holders), the good order of the Meetings, as well as the protection of confidentiality
of the Company&rsquo;s business and the safeguarding of the Company&rsquo;s corporate interests.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The Meetings will appoint a chairperson <I>pro tempore</I> to preside the
Meetings. The chairperson <I>pro tempore</I> will have broad authority to conduct the Meetings in an orderly and timely manner and to
establish behavior rules, including rules for shareholders (or proxy holders) to speak and ask questions at the Meetings.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 6.75pt 0pt 0; color: #009900"><B>Holders of ADRs: procedures for voting at
one or both Meetings.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Holders of ADRs as of <B>22<SUP>nd</SUP> April 2025 (the &ldquo;<U>ADR
Holders&rsquo; Record Date</U>&rdquo;)</B> are entitled to instruct the Depositary as to the exercise of the voting rights in respect
of the Shares underlying such holder&rsquo;s ADRs. Only those ADR holders of record as of the ADR Holders&rsquo; Record Date will be entitled
to provide the Depositary with voting instructions.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Any eligible ADR holder who wishes to give voting instructions in respect
of the Shares underlying its ADRs must follow the instructions and meet the deadlines set forth in the voting instructions and voting
cards. If the Depositary receives proper instructions by <B>29<SUP>th</SUP> April 2025, at 1:00 pm (Eastern Standard Time)</B>, with respect
to ADR holders giving instructions through a written proxy card, internet or telephone, then the Depositary shall vote, or cause to be
voted, the Shares underlying such holder&rsquo;s ADRs in the manner prescribed by the instructions. However, if by the above referred
deadlines, the Depositary receives no instructions from the ADR holder, then the Depositary shall deem such ADR holder to have instructed
the Depositary to vote the Shares underlying its ADRs in favor of any proposals or recommendations of the Company (including any recommendation
by the Company to vote such underlying Shares on any given issue in accordance with the majority shareholder vote on that issue) and,
for these purposes, the Depositary shall issue a proxy to a person appointed by the Company to vote the Shares underlying such holder&rsquo;s
ADRs in favor of any such proposals or recommendations. No instruction shall be deemed given, and no proxy shall be given, with respect
to any matter as to which the Company informs the Depositary that (i) it does not wish such proxy to be given, (ii) it has knowledge that
substantial opposition exists with respect to the action to be taken at the Meetings, or (iii) the matter materially and adversely affects
the rights of the holders of ADRs.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Any holder of ADRs entitled to provide the Depositary with voting instructions
in respect of the Shares underlying its ADRs, is also entitled to revoke any instructions previously given to the Depositary by filing
with the Depositary a written revocation or submitting new instructions on a later date, in each case, at any time prior to the above
referred deadline. No instructions, revocations or revisions thereof shall be accepted by the Depositary after such deadline.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Holders of ADRs maintaining non-certificated positions must follow voting
instructions given by their broker or custodian bank, which may provide for earlier deadlines for submitting voting instructions than
those indicated above.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; color: #009900"><B>Annual General Meeting of Shareholders: agenda, reports
on agenda items and draft resolutions proposed to be adopted.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Resolutions at the Annual General Meeting of Shareholders will be passed
by the simple majority of the votes validly cast, irrespective of the number of Shares present or represented.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The Annual General Meeting of Shareholders is called to address and vote
on the items of the agenda included in the Notice. The agenda for the Annual General Meeting of Shareholders, including reports on each
item of the agenda and the draft resolution proposed to be adopted thereon, are included below:</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consideration of the Company&rsquo;s
consolidated annual report for the year ended 31<SUP>st</SUP> December 2024, which includes (i) the consolidated management report containing
the financial and non-financial information required by applicable law; (ii) the related management certifications on the Company&rsquo;s
consolidated financial statements as of and for the year ended 31<SUP>st</SUP> December 2024, and on the annual accounts as at 31<SUP>st</SUP>
December 2024; and (iii) the external auditors&rsquo; reports on such consolidated financial statements and annual accounts.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The Company&rsquo;s 2024 consolidated annual report includes the consolidated
management report, prepared in accordance with the Luxembourg law of 10 August 1915 on commercial companies, as amended (the &ldquo;<U>Commercial
Companies Law</U>&rdquo;), which contains the financial and non-financial information required to be disclosed by applicable law, including
the corporate governance statement required by the Luxembourg law of 19 May 2006 implementing the Directive 2004/25/EC of the European
Parliament and of the Council of 21 April 2004 on takeover bids, the non-financial statement required under article 1730-1 of the Commercial
Companies Law and articles 68 and 68bis of the Luxembourg law of 19 December 2002 on the commercial and companies register and on the
accounting records and annual accounts of undertakings, as well as the reporting requirements regarding environmentally sustainable economic
activities required by Article 8 of Regulation (EU) 2020/852 of the European Parliament and of the Council on the establishment of a framework
to facilitate sustainable investment, as supplemented by applicable Commission Delegated Regulation (EU Taxonomy). The Company&rsquo;s
2024 consolidated annual report also contains the related management certifications on the Company&rsquo;s consolidated financial statements
as of and for the year ended 31<SUP>st</SUP> December 2024, and on the Company&rsquo;s annual accounts as at 31<SUP>st</SUP> December
2024, and the external auditors&rsquo; reports on such consolidated financial statements, annual accounts and sustainability statement.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The Company&rsquo;s 2024 consolidated annual report is available to shareholders
and ADR holders as of the date of the Notice, as indicated in this Shareholder Meeting Brochure and Proxy Statement.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B><I>Draft resolution proposed to be adopted</I></B>: &ldquo;<I>the Annual
General Meeting of Shareholders resolved to acknowledge the Company&rsquo;s consolidated annual report for the year ended 31<SUP>st</SUP>
December 2024, which includes (i) the consolidated management report containing the financial and non-financial information required by
applicable law; (ii) the related management certifications on the Company&rsquo;s consolidated financial statements as of and for the
year ended 31<SUP>st</SUP> December 2024, and on the annual accounts as at 31<SUP>st</SUP> December 2024; and (iii) the external auditors&rsquo;
reports on such consolidated financial statements, annual accounts and sustainability statement.</I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Approval of the Company&rsquo;s
consolidated financial statements as of and for the year ended 31<SUP>st</SUP> December 2024.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The Company&rsquo;s consolidated financial statements as of and for the
year ended 31<SUP>st</SUP> December 2024 (comprising the consolidated statement of financial position and the related consolidated statements
of income, of cash flows and of changes in equity and the notes to such consolidated financial statements), are included in the Company&rsquo;s
2024 consolidated annual report, copies of which are available to shareholders and ADR holders as of the date of the Notice, as indicated
in this Shareholder Meeting Brochure and Proxy Statement.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B><I>Draft resolution proposed to be adopted</I></B>: &ldquo;<I>the Annual
General Meeting of Shareholders resolved to approve the Company&rsquo;s consolidated financial statements as of and for the year ended
31<SUP>st</SUP> December 2024</I>&rdquo;.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Approval of the Company&rsquo;s
annual accounts as at 31<SUP>st</SUP> December 2024.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The Company&rsquo;s annual accounts as at 31<SUP>st</SUP> December 2024
(comprising the balance sheet, the profit and loss account and the notes to such annual accounts) are included in the Company&rsquo;s
2024 consolidated annual report, copies of which are available to shareholders and ADR holders as of the date of the Notice, as indicated
in this Shareholder Meeting Brochure and Proxy Statement.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B><I>Draft resolution proposed to be adopted</I></B>: &ldquo;<I>the Annual
General Meeting of Shareholders resolved to approve the Company&rsquo;s annual accounts as at 31<SUP>st</SUP> December 2024</I>&rdquo;.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allocation of results and
approval of dividend payment for the year ended 31<SUP>st</SUP> December 2024.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">In accordance with applicable Luxembourg law and the Company&rsquo;s articles
of association, the Company is required to allocate 5% of its annual net income to a legal reserve, until this reserve equals 10% of the
subscribed capital. As indicated in the Company&rsquo;s annual accounts as at 31<SUP>st</SUP> December 2024, the Company&rsquo;s legal
reserve already amounts to 10% of its subscribed capital and, accordingly, the legal requirements in that respect are satisfied.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Dividends may be lawfully declared and paid out of net profits, retained
earnings and distributable reserves and premiums, each as defined and calculated in accordance with Luxembourg law. The amount and payment
of dividends must be approved by a majority vote at the annual general meeting of shareholders, generally, but not necessarily, based
on the recommendation of the Company&rsquo;s board of directors (the &ldquo;<U>Board of Directors</U>&rdquo;). Under Article 21 of the
Company&rsquo;s articles of association, the Board of Directors has the power to distribute interim dividends in accordance with applicable
law; in particular, in accordance with the conditions set forth in Article 461-3 of the Luxembourg Company Law. Such dividend payments
must be finally approved by the annual general meeting of shareholders.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The Board of Directors proposed at its meeting held on 19<SUP>th</SUP>
February 2025, a dividend, payable in U.S. dollars, in the amount of US$0.83 per share (or US$1.66 per ADRS), which represents an aggregate
sum of approximately US$0.9 billion (the &ldquo;<U>Annual Dividend</U>&rdquo;). The Annual Dividend is proposed to include the interim
dividend of $0.27 per share ($0.54 per ADR) or approximately US$0.3 billion, paid on 20<SUP>th</SUP> November 2024 (the &ldquo;<U>Interim
Dividend</U>&rdquo;), and, accordingly, if the Annual Dividend proposal is approved, the Company will make an additional dividend payment
on 21<SUP>st</SUP> May 2025 in the amount of US$0.56 per share (or US$1.12 per ADR), or approximately US$0.6 billion (the &ldquo;<U>Dividend
Balance</U>&rdquo;).</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The Company&rsquo;s annual accounts as at 31<SUP>st</SUP> December 2024,
show a profit for 2024, of approximately US$ 1,469.8 million. Considering the annual profit and the amount of the Company&rsquo;s retained
earnings, other distributable reserves and premiums, the Company has distributable amounts that exceed the Annual Dividend. It is proposed
that the profit of the year ended 31<SUP>st</SUP> December 2024 be allocated to the Company&rsquo;s retained earnings account, with both
the Interim Dividend and the Dividend Balance being paid out of the Company&rsquo;s retained earnings account.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B><I>Draft resolution proposed to be adopted</I></B>: &ldquo;<I>the Annual
General Meeting of Shareholders resolved (i) to approve an Annual Dividend of US$0.83 per share (or US$1.66 per ADR), which represents
an aggregate sum of approximately US$0.9 billion, it being understood that the Annual Dividend approved pursuant to this resolution includes
the Interim Dividend of $0.27 per share ($0.54 per ADR) or approximately $0.3 billion, paid on 20<SUP>th</SUP> November 2024, out of the
Company&rsquo;s retained earnings account; (ii) to authorize the Board of Directors to determine or amend, in its discretion, the terms
and conditions of the Dividend Balance so approved, including the applicable record date, (iii) to pay the Dividend Balance so approved,
in the amount of US$0.56 per share (or US$1.12 per ADR), in U.S. dollars, representing approximately US$0.6 billion, on 21<SUP>st</SUP>
May 2025, out of the Company&rsquo;s retained earnings reserve; and (iv) that the profit of the year ended 31<SUP>st</SUP> December 2024,
be allocated to the Company&rsquo;s retained earnings account, with both the Interim Dividend and the Dividend Balance being paid out
of the Company&rsquo;s retained earnings account</I>&rdquo;.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Discharge of the members
of the Board of Directors for the exercise of their mandate throughout the year ended 31<SUP>st</SUP> December 2024.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">In accordance with the Commercial Companies Law, following approval of
the Company&rsquo;s annual accounts as at 31<SUP>st</SUP> December 2024, the Annual General Meeting of Shareholders must vote as to whether
those who were members of the Board of Directors throughout the year ended 31<SUP>st</SUP> December 2024, are discharged from any liability
in connection with the management of the Company&rsquo;s affairs during such year.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">It is proposed that those who were members of the Board of Directors throughout
the year ended 31<SUP>st</SUP> December 2024, be discharged from any liability in connection with the management of the Company&rsquo;s
affairs during such year.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B><I>Draft resolution proposed to be adopted</I></B>: &ldquo;<I>the Annual
General Meeting of Shareholders resolved to discharge all those who were members of the Board of Directors throughout the year ended 31<SUP>st</SUP>
December 2024, from any liability in connection with the management of the Company&rsquo;s affairs during such year</I>.&rdquo;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Election of the members
of the Board of Directors.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Management of the Company is vested in the Board of Directors, which has
the broadest power to act on behalf of the Company and accomplish or authorize all acts and transactions of management and disposal that
are within its corporate purpose and not specifically reserved in the articles of association or by applicable law to the general shareholders&rsquo;
meeting. The Company&rsquo;s articles of association provide for a Board of Directors consisting of a minimum of three and a maximum of
fifteen directors; however, for as long as the Company&rsquo;s shares are listed on at least one regulated market, the minimum number
of directors must be five. The current Board of Directors is composed of eleven directors.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">During 2024, the Board of Directors met six times and adopted two unanimous
written resolutions. On 31<FONT STYLE="font-size: 10pt">st</FONT> January 2003, the Board of Directors created an audit committee (the
&ldquo;<U>Audit Committee</U>&rdquo;) pursuant to Article 11 of the Company&rsquo;s articles of association, which operates under a charter
which has been amended and restated by the Board of Directors on 8<SUP>th</SUP> October 2021. As permitted under applicable laws and regulations,
the Board of Directors does not have any executive, nominating or compensation committee, or any committees exercising similar functions.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">It is proposed that (i) the number of directors be maintained at eleven
and (ii) all current directors be reappointed to the Board of Directors, each to hold office until the next annual general meeting of
shareholders that will be convened to decide on the Company&rsquo;s 2025 annual accounts.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Set forth below is summary biographical information of each of the candidates
to the Board of Directors:</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><U>Simon Ayat.</U> Mr. Ayat is a member of the Board of Directors and of
its Audit Committee. He served as Schlumberger&rsquo;s executive vice president and chief financial officer from 2007 until early 2020
and as senior strategic advisor to the chief executive officer of Schlumberger until January 2022. Mr. Ayat has held several financial
and operational positions in Schlumberger, where he commenced his career in 1982. He was based in Paris, Houston and Dallas, as well as
in the Middle East and Far East regions, serving as group treasurer, controller, geomarket manager for Indonesia and drilling regional
vice president for Asia Pacific. Mr. Ayat is also a member of the board of directors of Liberty Energy, a leading provider of hydraulic
fracturing and wireline services to E&amp;P companies in North America. He is a French and Lebanese citizen.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><U>Roberto Bonatti</U>. Mr. Bonatti is a member of the Board of Directors.
He is a grandson of Agostino Rocca, founder of the Techint Group, a group of companies controlled by San Faustin S.A. (&ldquo;San Faustin&rdquo;).
Throughout his career in the Techint Group he has been involved specifically in the engineering and construction and corporate sectors.
He was first employed by the Techint Group in 1976, as deputy resident engineer in Venezuela. In 1984, he became a director of San Faustin,
and from 2001 until 2020 he has served as its president. He is also a member of the board of directors of Ternium S.A. (&ldquo;Ternium&rdquo;).
Mr. Bonatti is an Italian citizen.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><U>Carlos Condorelli</U>. Mr. Condorelli is a member of the Board of Directors.
He served as the Company&rsquo;s chief financial officer from October 2002 until September 2007. He is also a board member of Ternium.
He has held several positions within Tenaris, including also the chief financial officer position in some of the principal Tenaris Group
companies and member of the Audit Committee between 1<SUP>st</SUP> November 2017, and 2<SUP>nd</SUP> May 2018. He also served as president
of the board of directors of Empresa Distribuidora La Plata S.A., an Argentine utilities company. Mr. Condorelli is an Argentine citizen.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><U>Germ&aacute;n Cur&aacute;</U>. Mr. Cur&aacute; is a member of the Board
of Directors and also holds the position of vice chairman of the Board of Directors. He served as president of our operations in North
America until 2<SUP>nd</SUP> May 2018, a position held since 2006. He was first employed by Siderca in 1988. Previously, he served as
Siderca S.A.I.C,&rsquo;s exports director, Tamsa S.A.&rsquo;s exports director and commercial director, sales and marketing manager of
our Middle East subsidiary, president of Algoma Tubes, president and chief executive officer of Maverick Tubulars and president and chief
executive officer of Hydril Company, director of our Oilfield Services global business unit and Tenaris commercial director. He was also
a member of the board of directors of API and of the American Iron and Steel Institute (AISI). Mr. Cur&aacute; currently serves as board
member of the Techouse Group, a Norwegian company delivering energy recovery and water treatment solutions to the offshore oil and gas
industry. He is a marine engineer from the Instituto Tecnol&oacute;gico de Buenos Aires and holds an MBA from the Massachusetts Institute
of Technology. Mr. Cur&aacute; is a U.S. citizen.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><U>Molly Montgomery</U>. Ms. Montgomery is a member of the Board of Directors.
She has 20 years of experience advising senior executives and government officials on geopolitical and policy issues. She currently serves
as a Public Policy Director at Meta Platforms, Inc. In her 15-year career in the U.S. government, her roles included serving in the White
House as Special Advisor to the Vice President for Europe and Eurasia and as the Deputy Assistant Secretary of State for the EU and Western
Europe. Ms. Montgomery was previously a senior vice president at Albright Stonebridge Group, where she advised Fortune 500 clients on
geopolitical risk, regulatory issues, and market entry and exit. She currently serves as a member of the board of directors of the Center
for European Policy Analysis and the Leadership Council for Women in National Security. She holds a BA in History and Political Science
from Stanford University, an MPA in International Relations from Princeton University, and a life membership in the Council on Foreign
Relations. Ms. Montgomery is a U.S. citizen.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><U>Maria Novales-Flamarique</U>. Ms. Novales-Flamarique is a member of
the Board of Directors. She advises multinational institutions on a variety of strategic and transformational issues. Previously, she
was country head for Generation Mexico, an NGO founded by McKinsey &amp; Company that transforms education-to-employment systems to prepare,
place, and support people into life-changing careers that would otherwise be inaccessible. She was also a partner at McKinsey &amp; Company,
leading more than 50 teams advising companies in Mexico, other Latin American countries, the United States and Europe. She began her career
in asset management at Letko, Brosseau &amp; Associates in Montreal, Canada, and worked as an investment banker at Citigroup Global Markets
in New York City. She currently serves as an independent director at Scotiabank Mexico, where she is a member of the Audit and Talent
committees. She also sits on advisory boards at several fintech, HRtech, insurtech start-ups and venture capital funds. She holds an MBA
from London Business School, a B.A. from HEC Montreal and is a CFA Charterholder. Ms. Novales-Flamarique is a Canadian, Spanish, and U.S.
citizen.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><U>Gianfelice Mario Rocca</U>. Mr. Rocca is a member of the Board of Directors.
He is a grandson of Agostino Rocca. He is chairman of the board of directors of San Faustin, member of the board of directors of Ternium
and president of the board of directors of Tenova S.p.A. Furthermore, in Italy he is president of the Giorgio Cini Foundation, member
of the board of Fondazione Museo della Scienza e Tecnologia Leonardo da Vinci, and member of the board of Bocconi University and of the
advisory board of Politecnico di Milano. At international level, he is member of the European and Global Advisory Board of Harvard Business
School, member of the European Round Table of Industrialists, vice president of Aspen Institute and member of the board of Brembo N.V.
Mr. Rocca is an Italian citizen.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><U>Paolo Rocca</U>. Mr. Rocca is the Chairman of the Board of Directors
and has been our chief executive officer since 2002. He is a grandson of Agostino Rocca. He is also the chairman of the board of directors
of Ternium and a director and President of San Faustin. He is a member of the executive committee of the World Steel Association. Mr.
Rocca is an Italian citizen.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><U>Jaime Jos&eacute; Serra Puche</U>. Mr. Serra Puche is a member of the
Board of Directors and of its Audit Committee. He is the chairman of SAI Derecho &amp; Economia, a Mexican consulting firm, and a member
of the board of directors of Grupo Vitro, and chairman of the board of BBVA. Mr. Serra Puche served as Mexico&rsquo;s Undersecretary of
Revenue, Secretary of Trade and Industry, and Secretary of Finance. He led the negotiation and implementation of the North America Free
Trade Agreement (NAFTA, now replaced by the USMCA). Mr. Serra Puche is a Mexican citizen.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><U>Monica Tiuba</U>. Ms. Tiuba is a member of the Board of Directors and
chairperson of its Audit Committee. She is a Brazilian qualified lawyer and accountant with more than 20 years of professional experience
in Brazil and Luxembourg. She started her career at Barbosa, Mussnich &amp; Arag&atilde;o law firm in Rio de Janeiro, Brazil, where she
practiced corporate law, M&amp;A and tax litigation. She worked in EY and PwC, in the Brazil and Luxembourg offices, advising multinational
clients, private equity houses and family offices. She gained banking experience working as international senior wealth planner at Banque
Edmond de Rothschild, in Luxembourg. She currently serves as member of the board of directors of Investing for Development SICAV, a Luxembourg
social impact fund and of its Forest and Climate Change Fund and she was also a member of Freyr Battery&rsquo;s board of directors and
chairperson of the audit and risk committee. She holds a Master of Laws in International and Comparative Law at the Vrije Universiteit
Brussel, a specialization in EU tax law from Leiden University and a Master of Laws in international taxation from Vienna University of
Economics. Ms. Tiuba is a Brazilian and Luxembourgish citizen.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><U>Guillermo Vogel</U>. Mr. Vogel is a member of the Board of Directors
and also holds the position of vice chairman of the Board of Directors. He is a notable Mexican businessperson with an extensive career
in various industries. He graduated from the Universidad Nacional Aut&oacute;noma de M&eacute;xico and also holds an MBA from the University
of Texas at Austin. Mr. Vogel has held prominent positions in several companies, showcasing his expertise and leadership skills. He is
the chairman of GCollado S.A.B. de C.V. His influence extends to multiple organizations, as he has served as president of Canacero, the
Steel Chamber in Mexico, and as vice chairman of the American Iron and Steel Institute. Moreover, Mr. Vogel is actively involved in various
other companies and institutions. He is a board member of Techint, S.A. de C.V., Alfa S.A.B. de C.V., Banco Santander (M&eacute;xico)
S.A., Innovare R&amp;D, S.A., Europea Network Business Solutions S.A. de C.V., Club de Industriales, A.C., Consejo Coordinador Empresarial,
and several other organizations. His roles also include contributions to the academic sector, as he is a member of the board of the Universidad
Panamericana and IPADE, A.C. His international presence is marked by his membership in The Trilateral Commission and the International
Board of The Manhattan School of Music. He also plays a key role in the US-Mexico CEO Dialogue as its chairman. Vogel's career reflects
a blend of leadership in business and contributions to international relations and education. Mr. Vogel is a Mexican citizen.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Mr. Ayat, Ms. Novales-Flamarique, Ms. Montgomery, Mr. Serra Puche, and
Ms. Tiuba qualify as independent directors for purposes of the U.S. Securities Exchange Act Rule 10A-3(b)(1) and under the Company&rsquo;s
articles of association.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B><I>Draft resolution proposed to be adopted</I></B>: &ldquo;<I>the Annual
General Meeting of Shareholders resolved to (i) maintain the number of members of the Board of Directors at eleven and (ii) re-appoint
Mr. Simon Ayat, Mr. Roberto Bonatti, Mr. Carlos Condorelli, Mr. Germ&aacute;n Cur&aacute;, Ms. Molly Montgomery, Ms. Mar&iacute;a Novales-Flamarique,
Mr. Gianfelice Mario Rocca, Mr. Paolo Rocca, Mr. Jaime Serra Puche, Ms. Monica Tiuba and Mr. Guillermo Vogel to the Board of Directors&rdquo;</I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Approval of the compensation
payable to the members of the Board of Directors for the year ending 31<SUP>st</SUP> December 2025.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Under the Shareholders Rights Law the Company is required to adopt a compensation
policy applicable to the members of the Board of Directors and the chief executive officer (the &ldquo;<U>Compensation Policy</U>&rdquo;).</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">On 29<SUP>th</SUP> April 2020 the Board of Directors adopted the Compensation
Policy, setting forth the principles and guidelines for purposes of determining the compensation payable to the members of the Board of
Directors and the Company&rsquo;s chief executive officer, which was submitted to an advisory non-binding vote, and was approved by majority
vote, at the annual shareholders meeting held on 2<FONT STYLE="font-size: 10pt">nd </FONT>June 2020. At its meeting held on 21<SUP>st</SUP>
February 2024, the Board of Directors approved a revised Compensation Policy, which was also submitted to the advisory non-binding vote,
and was approved by majority vote, at the annual shareholders meeting held on 30<SUP>th</SUP> April 2024.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The updated Compensation Policy is available to shareholders and ADR holders
on the Company&rsquo;s website at <FONT>ir.tenaris.com/corporate-governance/annual-general-meeting</FONT>.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">In accordance with the Compensation Policy, it is proposed that each member
of the Board of Directors receive an amount of US$115,000 as compensation for his/her services during the fiscal year 2025; and it is
further proposed that each of the members of the Board of Directors who are members of the Audit Committee receive an additional fee of
US$55,000 and that the chairperson of the Audit Committee receive, further, an additional fee of US$20,000.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B><I>Draft resolution proposed to be adopted</I></B><I>: &ldquo;the Annual
General Meeting of Shareholders resolved to approve that, as compensation for his/her services during the fiscal year 2025, (i) each of
the members of the Board of Directors receive an amount of US$115,000; (ii) each of the members of the Board of Directors who are members
of the Audit Committee receive an additional fee of US$55,000; and (iii) the Chairperson of the Audit Committee receive, further, an additional
fee of US$20,000</I>.&rdquo;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Approval of the Company&rsquo;s
compensation report for the year ended 31<SUP>st</SUP> December 2024.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Under the Shareholders Rights Law the Company is also required to prepare
an annual compensation report, providing a comprehensive overview of the remuneration, including all benefits in whatever form, awarded
or due during the most recent financial year to each member of the Board of Directors and to the Company&rsquo;s chief executive officer
(the &ldquo;<U>Compensation Report</U>&rdquo;).</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The Board of Directors approved, at its meeting held on 19<SUP>th</SUP>
February 2025, the 2024 Compensation Report, setting forth the compensation paid or payable by the Company, or any of its subsidiaries,
to the members of the Board of Directors and to the Company&rsquo;s chief executive officer for the performance of their duties during
the year ended 31<SUP>st</SUP> December 2024. The 2024 Compensation Report, which must be read in conjunction with the Compensation Policy,
is available to shareholders and ADR holders as of the date of the Notice, as indicated in this Shareholder Meeting Brochure and Proxy
Statement.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">In accordance with the Shareholders Rights Law, the Company submits the
2024 Compensation Report to the advisory non-binding vote of the Annual General Meeting of Shareholders.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 3.05pt 0pt 0"><B><I>Draft resolution proposed to be adopted</I></B>: <I>&ldquo;the
Annual General Meeting of Shareholders resolved to approve the 2024 Compensation Report of the Company, which sets forth the compensation
paid or payable to the members of the Board of Directors and to the Company&rsquo;s chief executive officer, for the performance of their
duties during the year ended 31<SUP>st</SUP> December 2024.</I>&rdquo;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Appointment of the Company&rsquo;s
statutory auditors for the fiscal year ending 31<SUP>st</SUP> December 2025, and approval of their fees.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 3.05pt 0pt 5.05pt">Pursuant to its charter, the Audit Committee is responsible
for considering and making recommendations to the Board of Directors, to be put to shareholders for approval at the annual general meeting
of shareholders, regarding the appointment, re-appointment or removal of the Company&rsquo;s external auditors. In addition, the Audit
Committee is responsible for reviewing the appropriateness and provision of permitted non-audit services and to review and approve any
fees (whether for audit, audit-related and non-audit services) payable to the Company&rsquo;s external auditors.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">In the performance of its function, the Company conducted a competitive
tender process in accordance with applicable EU and Luxembourg regulation (including Directive 2014/56/EU of the European Parliament and
of the Council, Regulation (EU) No. 537/2014 of the European Parliament and of the Council, the Luxembourg&rsquo;s Law of 23 July 2016
concerning the audit profession) and CSSF-related guidance, for the selection of an audit firm to provide services in connection with
the statutory audit of the Company&rsquo;s annual consolidated financial statements and annual accounts for the year ending 31<SUP>st</SUP>
December 2025, in accordance with the International Standards on Auditing (ISA), as adopted for Luxembourg by the CSSF; the limited review
of the interim consolidated financial statements; the review of the annual and half-year reports prepared under applicable Luxembourg
law; and the review of the interim accounts prepared in connection with the distribution of interim dividends (the &ldquo;<U>Statutory
Auditor</U>&rdquo;).</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Following completion of the tender process, on 25<SUP>th</SUP> March 2025,
the Audit Committee approved the appointment of Forvis Mazars, <I>Cabinet de r&eacute;vision agr&eacute;&eacute;</I> (&ldquo;<U>Forvis
Mazars</U>&rdquo;), as Statutory Auditor for the fiscal year ending 31<SUP>st</SUP> December 2025, and recommended to the Board of Directors
that the appointment of Forvis Mazars be submitted for approval at this Annual General Shareholders Meeting. On 1<SUP>st</SUP> April 2025,
the Board of Directors, based on the Audit Committee&rsquo;s resolutions, recommended this Annual General Shareholders Meeting to appoint
Forvis Mazars as the Statutory Auditor for the fiscal year ending 31<SUP>st</SUP> December 2025.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">In addition, at its 25<SUP>th</SUP> March 2025 meeting, the Audit Committee
reviewed and approved Forvis Mazars&rsquo; fee proposal relating to audit and audit-related services to be rendered during the fiscal
year ending 31<SUP>st</SUP> December 2025, broken-down into five reference currencies (Brazilian Reais, Canadian Dollars, Euro, Mexican
Pesos and U.S. Dollars) up to a maximum amount for each currency equal to BRL74,100, CAD31,000, EUR942,564, MXN2,160,000 and USD271,630,
authorizing management to, within the maximum amount approved for each reference currency, reallocate such amounts to any audit or audit-related
services, provided that such reallocation is subsequently reported to the Audit Committee on a timely basis and that no reallocation is
made for fees originally allocated to audit or audit-related services of subsidiaries of the Company that are transferred to third parties,
liquidated or dissolved. Such fees will cover the statutory audit of the Company&rsquo;s consolidated financial statements and annual
accounts and other related-audit services to be rendered by Forvis Mazars during 2025. For information purposes, the aggregate amount
of fees for all services to be rendered by Forvis Mazars during the fiscal year ending 31<SUP>st</SUP> December 2025, is equivalent to
approximately USD1,397,500 (based, for fees in BRL, CAD, EUR and MXN, on the exchange rate between the U.S. Dollar and each applicable
reference currency as of 4<SUP>th</SUP> March 2025). The Audit Committee resolved to request the Board of Directors to submit the described
fees, for final approval by the Meeting.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 3.05pt 0pt 5.05pt">Accordingly, it is proposed that the Meeting approve the
appointment of Forvis Mazars as Statutory Auditor for the fiscal year ending 31<SUP>st</SUP> December 2025, to be engaged until the annual
general meeting of shareholders that will be convened to decide on the Company&rsquo;s 2025 annual accounts, and that the Meeting approve
Forvis Mazars&rsquo; fees and authorize the Audit Committee to approve any increase or reallocation of the external auditors&rsquo; fees
as may be necessary, appropriate or desirable under the circumstances.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 3.05pt 0pt 5.05pt"><B><I>Draft resolution proposed to be adopted</I></B><I>:
&ldquo;the Annual General Meeting of Shareholders resolved to (i) appoint Forvis Mazars, Cabinet de r&eacute;vision agr&eacute;&eacute;,
as the Company&rsquo;s statutory auditor for the fiscal year ending 31<SUP>st</SUP> December 2025, to be engaged until the next annual
general meeting of shareholders that will be convened to decide on the Company&rsquo;s 2025 annual accounts; (ii) approve the statutory
auditors&rsquo; fees for audit and audit-related services to be rendered during the fiscal year ending 31<FONT STYLE="font-size: 10pt">st
</FONT>December 2025, broken down into five reference currencies (Brazilian Reais, Canadian Dollars, Euro, Mexican Pesos and U.S. Dollars)
up to a maximum amount for each currency equal to BRL74,100, CAD31,000, EUR942,564, MXN2,160,000 and USD271,630, and (iii) authorize the
Audit Committee to approve any increase or reallocation of the statutory auditors&rsquo; fees as may be necessary, appropriate or desirable
under the circumstances.&rdquo;</I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 3.05pt 0pt 0"><B>10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Authorization
to the Company, or any subsidiary, to purchase, acquire or receive securities of the Company, in accordance with Article 49-2 of the Luxembourg
law of 10 August 1915 and with applicable laws and regulations.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 3.05pt 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The Commercial Companies Law provides that any Luxembourg commercial company
may acquire its own shares, either directly or through a person acting on the company&rsquo;s behalf, subject to, among other conditions,
prior authorization granted by the general meeting of shareholders of such company, which shall approve the terms and conditions of the
proposed acquisitions, including the maximum number of shares to be acquired, the duration of the period for which the authorization is
given (such maximum period being, as of to date, 5 years) and, in case of acquisitions for value, the maximum and minimum consideration.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">It is proposed that this Annual General Meeting of Shareholders renew the
authorization to the Company and to the Company&rsquo;s subsidiaries to acquire, from time to time, shares, including shares represented
by American Depositary Receipts (&ldquo;<U>ADRs</U>&rdquo; and, collectively, &ldquo;<U>Securities</U>&rdquo;) granted by the Annual General
Meeting of Shareholders held on 2<SUP>nd</SUP> June 2020, on the following terms and conditions:</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases, acquisitions or
receptions of Securities may be made in one or more transactions as the Board of Directors or the board of directors or other governing
bodies of the relevant entity, as applicable, considers advisable.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The maximum number of Securities
acquired pursuant to this authorization may not exceed 10% of the Company&rsquo;s issued and outstanding shares or, in the case of acquisitions
made through a stock exchange in which the Securities are traded, such lower amount as may not be exceeded pursuant to any applicable
laws or regulations of such market. The number of Securities acquired as a block may amount to the maximum permitted amount of purchases.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The purchase price per share
to be paid in cash may not exceed 125% (excluding transaction costs and expenses), nor may it be lower than 75% (excluding transaction
costs and expenses), in each case of the average of the closing prices of the Securities in the stock exchange through which the Securities
are acquired, during the five trading days in which transactions in the Securities were recorded in such stock exchange preceding (but
excluding) the day on which the Securities are acquired. For over-the-counter or off-market transactions, the purchase price per ADR to
be paid in cash may not exceed 125% (excluding transaction costs and expenses), nor may it be lower than 75% (excluding transaction costs
and expenses), in each case of the average of the closing prices of the ADRs in the New York Stock Exchange during the five trading days
in which transactions in ADRs were recorded in the New York Stock Exchange preceding (but excluding) the day on which the ADRs are acquired;
and, in the case of acquisition of Securities, other than in the form of ADRs, such maximum and minimum per Security purchase prices shall
be equal to the prices that would have applied in case of an ADR purchase pursuant to the formula above divided by the number of underlying
Shares represented by an ADR at the time of the relevant purchase. Compliance with maximum and minimum purchase price requirements in
any and all acquisitions made pursuant to this authorization (including, without limitation, acquisitions carried out through the use
of derivative financial instruments or option strategies) shall be determined on and as of the date on which the relevant transaction
is entered into, irrespective of the date on which the transaction is to be settled.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The above maximum and minimum
purchase prices shall, in the event of a change in the par value of the shares, a capital increase by means of a capitalization of reserves,
a distribution of shares under compensation or similar programs, a stock split or reverse stock split, a distribution of reserves or any
other assets, the redemption of capital, or any other transaction impacting on the Company&rsquo;s equity be adapted automatically, so
that the impact of any such transaction on the value of the shares shall be reflected.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The acquisitions of Securities
may not have the effect of reducing the Company&rsquo;s net assets below the sum of the Company&rsquo;s capital stock plus its undistributable
reserves.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Only fully paid-up Securities
may be acquired pursuant to this authorization.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The acquisitions of Securities
may be carried out for any purpose, as may be permitted under applicable laws and regulations, including without limitation to reduce
the share capital of the Company, to offer such shares to third parties in the context of corporate mergers or acquisitions of other entities
or participating interests therein, for distribution to the Company&rsquo;s or the Company&rsquo;s subsidiaries&rsquo; directors, officers
or employees or to meet obligations arising from convertible debt instruments.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The acquisitions of Securities
may be carried out by any and all means, as may be permitted under applicable laws and regulations, including through any stock exchange
in which the Company&rsquo;s Securities are traded, through public offers to all shareholders of the Company to buy Securities, through
the use of derivative financial instruments or option strategies, or in over the counter or off-market transactions or in any other manner.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The acquisitions of Securities
may be carried out at any time, during the duration of the authorization, including during a tender offer period, as may be permitted
under applicable laws and regulations.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The authorization granted
to acquire Securities shall be valid for such maximum period as may be provided for under applicable Luxembourg law as in effect from
time to time (such maximum period being, as of to date, 5 years).</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The acquisitions of Securities
shall be made at such times and on such other terms and conditions as may be determined by the Board of Directors or the board of directors
or other governing bodies of the relevant entity, provided that, any such purchase shall comply with Article 49-2 et.seq. of the Commercial
Companies Law and, in the case of acquisitions of Securities made through a stock exchange in which the Securities are traded, with any
applicable laws and regulations of such market.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">It is also proposed that this Annual General Meeting further grant all
powers to the Board of Directors and to the board of directors or other governing bodies of the Company&rsquo;s subsidiaries, in each
case with powers to delegate in accordance with applicable laws, the Company&rsquo;s articles of association or the articles of association
of other applicable organizational documents of the relevant Company&rsquo;s subsidiary, to decide on and implement this authorization,
to define, if necessary, the terms and procedures for carrying out any purchase, acquisition or reception of Securities, and, in particular,
to place any stock exchange orders, conclude any agreements, including for keeping registers of purchases and sales of Securities, make
any declarations to the applicable regulatory authorities, carry out all formalities and, generally, do all such other acts and things
as may be necessary, appropriate or desirable for the purposes aforesaid. It is further recommended that Board of Directors be expressly
authorized to delegate to its Chairman, with the latter having the option to sub-delegate to any other person(s), the performance of the
actions entrusted to the Board of Directors, pursuant to, or in connection with, this authorization.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B><I>Draft resolution proposed to be adopted:</I></B><I> &ldquo;the Annual
General Meeting resolved to (i) renew the authorization to the Company and to the Company&rsquo;s subsidiaries to purchase, acquire or
receive shares, including shares represented by ADRs (&ldquo;Securities&rdquo;), on the terms and conditions set forth in the minutes
of this Annual General Meeting; (ii) grant all powers to the Board of Directors and to the board of directors or other governing bodies
of the Company&rsquo;s subsidiaries, in each case with powers to delegate in accordance with applicable laws, the Company&rsquo;s articles
of association or the articles of association of other applicable organizational documents of the relevant Company&rsquo;s subsidiary,
to decide on and implement this authorization, to define, if necessary, the terms and procedures for carrying out any purchase, acquisition
or reception of Securities, and, in particular, to place any stock exchange orders, conclude any agreements, including for keeping registers
of purchases and sales of Securities, make any declarations to the applicable regulatory authorities, carry out all formalities and, generally,
do all such other acts and things as may be necessary, appropriate or desirable for the purposes aforesaid; and (iii) authorize the Board
of Directors to delegate to its Chairman, with the latter having the option to sub-delegate to any other person(s), the performance of
the actions entrusted to the Board of Directors, pursuant to, or in connection with, this authorization&rdquo;.</I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"><B></B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Authorization to the Board
of Directors to cause the distribution of all shareholder communications, including its shareholder meeting and proxy materials and annual
reports to shareholders, by such electronic means as is permitted by any applicable laws or regulations.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">In order to expedite shareholder communications and ensure their timely
delivery, it is advisable that the Board of Directors be authorized to cause the distribution of all shareholder communications, including
its shareholder meeting and proxy materials and annual reports to shareholders (either in the form of a separate annual report containing
financial statements of the Company and its consolidated subsidiaries or in the form of an annual report on Form 20-F or similar document,
as filed with the securities authorities or stock markets) by such electronic means as are permitted or required by any applicable laws
or regulations (including any interpretations thereof), including, without limitation, by posting such communication on the Company&rsquo;s
website, or by sending electronic communications (e-mails) with attachment(s) in a widely used format or with a hyperlink to the applicable
filing by the Company on the website of the above referred authorities or stock markets, or by any other existing or future electronic
means of communication as is or may be permitted by any applicable laws or regulations.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Through this resolution, the Company seeks authorization under Article
16 of the Transparency Law, to give, send or supply information (including any notice or other document) that is required or authorized
to be given, sent or supplied to a shareholder by the Company whether required under the articles of association or by any applicable
law or any other rules or regulations to which the Company may be subject, by making such information (including any notice or other document)
available on the Company&rsquo;s website or through other electronic means.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B><I>Draft resolution proposed to be adopted</I></B>: &ldquo;<I>the Annual
General Meeting of Shareholders resolved to authorize the Board of Directors to cause the distribution of all shareholder communications,
including its shareholder meeting and proxy materials and annual reports to shareholders (either in the form of a separate annual report
containing financial statements of the Company and its consolidated subsidiaries or in the form of an annual report on Form 20-F or similar
document, as filed with the securities authorities or stock markets) by such electronic means as are permitted or required by any applicable
laws or regulations (including any interpretations thereof), including, without limitation, by posting such communication on the Company&rsquo;s
website, or by sending electronic communications (e-mails) with attachment(s) in a widely used format or with a hyperlink to the applicable
filing by the Company on the website of the above referred authorities or stock markets, or by any other existing or future electronic
means of communication as is or may be permitted by any applicable laws or regulations</I>.&rdquo;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; color: #009900"><B>Extraordinary General Meeting of Shareholders: agenda,
reports on agenda items and draft resolutions proposed to be adopted</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The Extraordinary General Meeting of Shareholders may not validly deliberate
on the proposed amendment of the Company&rsquo;s articles of association unless at least half of the issued share capital is represented,
unless otherwise provided for by applicable law. If the required quorum is not reached at the first Extraordinary General Meeting of Shareholders,
a second Extraordinary General Meeting of Shareholders may be convened in accordance with the Company&rsquo;s articles of association
and applicable law and such second Extraordinary General Meeting of Shareholders shall validly deliberate regardless of the number of
shares represented. Resolutions at the Extraordinary General Meeting of Shareholders shall be adopted by a two-third majority of the votes
validly cast, unless otherwise provided for by applicable law.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt"><B></B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The Extraordinary General Meeting of Shareholders is called to address
and vote on the items of the agenda included in the Notice. The agenda for the Extraordinary General Meeting of Shareholders, including
the reports on the items of the agenda and the draft resolutions proposed to be adopted thereon are included below:</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt"><B>1.</B></TD><TD STYLE="text-align: justify"><B>Approval of (a) the cancellation of 90,762,598 ordinary shares held in treasury, acquired by the Company
throughout (i) the second, third and fourth tranches of the share buyback program, which ran from 6<SUP>th</SUP> November 2023 to 2<SUP>nd</SUP>
August 2024, and (ii) the follow-on share buyback program, which ran from 11<SUP>th</SUP> November 2024 to 4<SUP>th</SUP> March 2025,
and (b) the consequential reduction of the issued share capital of the Company by an amount of US$90,762,598 so as to bring it from its
current amount of US$1,162,757,528 to US$1,071,994,930 represented by 1,071,994,930 ordinary shares with a nominal value of US$1.00 per
share.</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">On 1<SUP>st</SUP> November 2023, the Board of Directors approved the first
share buyback program of up to $1.2 billion with the intention to cancel the shares acquired through the program. The share buyback program
was carried out under the authority granted by the annual general meeting of shareholders held on 2<SUP>nd</SUP> June 2020, to repurchase
up to a maximum of 10% of the Company&rsquo;s shares. For purposes of carrying out each tranche of this share buyback program, the Company
entered into non-discretionary buyback agreements with primary financial institutions, which made trading decisions concerning the timing
of the purchases of the Company&rsquo;s shares independently of and uninfluenced by the Company and acted in compliance with applicable
rules and regulations, including the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The first share buyback program was divided into four tranches and ran
from 6<SUP>th</SUP> November 2023, to (and including) 2<SUP>nd</SUP> August 2024. During this share buyback program, the Company repurchased
71,679,768 ordinary shares, representing 6.07% of the Company&rsquo;s issued share capital at the beginning of the program, for a total
consideration of $1.2 billion. The extraordinary meeting of shareholders held on 30<SUP>th</SUP> April 2024, approved the cancellation
of 17,779,302 ordinary shares acquired by the Company throughout the first tranche of the first share buyback program and the corresponding
reduction of the Company&rsquo;s issued share capital. The 53,900,466 shares repurchased under the second, third and fourth tranches of
the first share buyback program are held in treasury and are proposed to be cancelled at this Extraordinary General Meeting of Shareholders.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">On 6<SUP>th</SUP> November 2024, the Board of Directors approved a follow-on
share buyback program of up to $700 million (excluding incidental transaction fees), subject to a maximum of 46,373,915 ordinary shares,
representing the remaining 3.93% of the Company&rsquo;s issued share capital (measured as of the launch of the first share buyback program),
to complete the maximum of 10% of the share capital that may be repurchased by the Company, with the intention to cancel the acquired
shares. This second share buyback program was also carried out under the authority granted by the annual general meeting of shareholders
held on 2<SUP>nd</SUP> June 2020, to repurchase up to a maximum of 10% of the Company&rsquo;s shares. For purposes of carrying out the
second share buyback program, the Company entered into non-discretionary buyback agreement with a primary financial institution, which
make trading decisions concerning the timing of the purchases of the Company&rsquo;s shares independently of and uninfluenced by the Company
and act in compliance with applicable rules and regulations, including the Market Abuse Regulation 596/2014 and the Commission Delegated
Regulation (EU) 2016/1052.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The second share buyback program ran from 11<SUP>th</SUP> November 2024,
to (and including) 4<SUP>th</SUP> March 2025. During this share buyback program, the Company repurchased 36,862,132 ordinary shares, representing
3.12% of the Company&rsquo;s issued share capital as measured at the beginning of the first program, for a total consideration of approximately
$700 million. Shares repurchased under the second share buyback program are held in treasury and are proposed to be cancelled at this
Extraordinary General Meeting of Shareholders.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Accordingly, it is proposed that the Extraordinary General Meeting of Shareholders
approve the cancellation of 90,762,598 ordinary shares repurchased by the Company during the second, third and fourth tranches of the
first share buyback program and during the second share buyback program, which are currently held in treasury. It is also proposed that
the Extraordinary General Meeting of Shareholders approve the consequential reduction of the Company&rsquo;s issued share capital and
consequential amendment of the Company&rsquo;s articles of association.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B><I>Draft resolution proposed to be adopted: </I></B><I>&ldquo;the Extraordinary
General Meeting of Shareholders resolved to (a) approve the cancellation of 90,762,598 ordinary shares held in treasury, acquired by the
Company throughout (i) the second, third and fourth tranches of the share buyback program, which ran from 6<SUP>th</SUP> November 2023
to 2<SUP>nd</SUP> August 2024, and; (ii) the follow-on share buyback program, which ran from 11<SUP>th</SUP> November 2024 to 4<SUP>th</SUP>
March 2025, and (b) approve the consequential reduction of the issued share capital of the Company by an amount of US$90,762,598, so as
to bring it from its current amount of US$1,162,757,528 to US$1,071,994,930, represented by 1,071,994,930 ordinary shares with a nominal
value of US$1.00 per share&rdquo;.</I></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt"><B>2.</B></TD><TD STYLE="text-align: justify"><B>Decision on the renewal of the authorized share capital of the Company and related authorizations and
waivers by:</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 46.4pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 46.4pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt"><B>a.</B></FONT></TD><TD STYLE="text-align: justify"><B>the renewal of the validity period of the Company&rsquo;s authorized share capital for a period starting
on the date of the Extraordinary General Meeting of Shareholders and ending on the fifth anniversary of the date of the publication in
the <I>Recueil &eacute;lectronique des soci&eacute;t&eacute;s et associations</I> (RESA) of the deed recording the minutes of such meeting;</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 64.4pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 46.4pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt"><B>b.</B></FONT></TD><TD STYLE="text-align: justify"><B>the renewal of the authorization to the board of directors, or any delegate (s) duly appointed by the
board of directors, for a period starting on the date of the Extraordinary General Meeting of Shareholders and ending on the fifth anniversary
of the date of the publication in the RESA of the deed recording the minutes of such meeting, from time to time to issue shares within
the limits of the authorized share capital against contributions in cash, contributions in kind or by way of incorporation of available
reserves at such times and on such terms and conditions, including the issue price, as the board of directors or its delegate (s) may
in its or their discretion resolve;</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 46.4pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt"><B>c.</B></FONT></TD><TD STYLE="text-align: justify"><B>the renewal of the authorization to the board of directors, for a period starting on the date of the
Extraordinary General Meeting of Shareholders and ending on the fifth anniversary of the date of the publication in the RESA of the deed
recording the minutes of such meeting, to waive, suppress or limit any pre-emptive subscription rights of shareholders provided for by
law to the extent it deems such waiver, suppression or limitation advisable for any issue or issues of shares within the authorized share
capital; waiver of any pre-emptive subscription rights provided for by law and related procedures;</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 46.4pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt"><B>d.</B></FONT></TD><TD STYLE="text-align: justify"><B>the decision that any issuance of shares for cash within the limits of the authorized share capital
shall be subject by provision of the Company&rsquo;s articles of association to the pre-emptive subscription rights of the then existing
shareholders, except in the following cases (in which cases no pre-emptive rights shall apply):</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 64.4pt"></TD><TD STYLE="width: 36pt"><B>i.</B></TD><TD STYLE="text-align: justify"><B>any issuance of shares (including, without limitation, the direct issuance of shares or upon the exercise
of options, rights convertible into shares, or similar instruments convertible or exchangeable into shares) against a contribution other
than in cash; and</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 64.4pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 64.4pt"></TD><TD STYLE="width: 36pt"><B>ii.</B></TD><TD STYLE="text-align: justify"><B>any issuance of shares (including by way of free shares or at discount), up to an amount of 1.5% of
the issued share capital of the Company, to directors, officers, agents, employees of the Company, its direct or indirect subsidiaries,
or its affiliates (collectively, the &ldquo;Beneficiaries&rdquo;), including without limitation the direct issuance of shares or upon
the exercise of options, rights convertible into shares, or similar instruments convertible or exchangeable into shares issued for the
purpose of compensation or incentive of the Beneficiaries or in relation thereto (which the Board of Directors shall be authorized to
issue upon such terms and conditions as it deems fit); and</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 22 -->
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    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 46.4pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt"><B>e.</B></FONT></TD><TD STYLE="text-align: justify"><B>the acknowledgement and approval of the report of the Board of Directors in relation with the authorized
share capital and the proposed authorizations to the Board of Directors with respect to any issuance of shares within the authorized share
capital while suppressing any pre-emptive subscription rights of existing shareholders under law and related waiver.</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Pursuant to the Company&rsquo;s articles of association, the Board of Directors
is authorized for a period of five years to issue shares within the limits of the authorized share capital without shareholder approval,
and any such issuances of shares may be made without reserving preferential subscription rights to the Company&rsquo;s existing shareholders
in certain cases (i.e., shares issued for consideration other than cash, shares issued as compensation to directors, officers, agents,
or employees of the Company, its subsidiaries or affiliates, and shares issued to satisfy conversion or option rights created to provide
compensation to directors, officers, agents or employees of the Company, its subsidiaries or affiliates).</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">It is proposed that this Extraordinary General Meeting of Shareholders
renew the authorization granted by the Extraordinary General Meeting of Shareholders held on 2<SUP>nd</SUP> June 2020, to issue shares
within the limits of the authorized share capital without shareholder approval for an additional five-year period on the same terms and
conditions and grant the related authorizations and waivers as set forth in the agenda.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The Board of Directors is of the opinion that the successful implementation
and development of the Company and its group&rsquo;s long term strategy will depend, among other factors, on their ability to grow through
acquisitions or other investments on the best possible terms, and that the existence of the preferential subscription rights provided
for by Luxembourg law for the benefit of existing shareholders would significantly reduce the flexibility of the Company to finance its
operations and potential growth through issuances of shares; in addition, the preferential subscription rights procedure contemplated
by Luxembourg law would, in some cases, risk delaying increases in share capital and issuances of new Shares at times when timing may
be of the essence.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Accordingly, the Board of Directors believes it to be in the Company&rsquo;s
best interest that the Board of Directors be authorized to negotiate and conclude acquisitions, investments, joint ventures and other
transactions using shares or rights to shares of the Company&rsquo;s capital as consideration. Similarly, the Board of Directors believes
that the interest of the Company requires that maximum flexibility be granted so that the Company be able to react quickly and without
delay to any suitable acquisition, investment, joint venture or other strategic proposals or projects and/or to secure financing in connection
thereto by issuing or offering to issue shares within the limits of the proposed authorization.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The Board of Directors also believes that the interest of the Company requires
that the Board of Directors be authorized to issue such shares or rights thereto either at or below market price, and including by way
of incorporation of reserves, as it may be necessary or convenient in light of the facts and circumstances of the transaction in question
or its strategic significance.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The Board of Directors further believes that, for the Company and its group
to maximize its ability to attract and retain valuable directors, managers, officers, agent or employees, it is its best interest that
the Company retain the flexibility to offer to such persons shares or conversion, option or similar plans or incentive programs permitting
the subscription of shares in the Company either at or below market price. Such plans and programs, by serving the purpose of facilitating
the recruitment or retention of key employees and executives, would enable the Company and its group to secure business opportunities,
further strengthen and develop its market position and continue the implementation of the Company&rsquo;s long-term strategy.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Accordingly, the Board of Directors believes that issuances of shares as
compensation to, or to satisfy conversion or option rights created to provide compensation to directors, officers, agents or employees
of the Company, its subsidiaries or its affiliated companies should be made by the Board of Directors upon such terms and conditions as
it deems fit and without reserving pre-emptive subscription rights to existing shareholders; provided, however, that any such issuances
shall be limited to 1.5% of the Company&rsquo;s issued share capital from time to time.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The report of the Board of Directors with respect to the proposed waiver
of, suppression of, and authorization to suppress or limit, pre-emptive subscription rights by the existing shareholders of the Company
is available to shareholders and ADR holders as of the date of the Notice.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B><I>Draft resolution proposed to be adopted:</I></B><I> &ldquo;The Extraordinary
General Meeting of Shareholders resolved to renew the validity period of the Company&rsquo;s authorized share capital for a period starting
on the date of this Meeting and ending on the fifth anniversary of the date of the publication in the Recueil &eacute;lectronique des
soci&eacute;t&eacute;s et associations</I> (RESA) <I>of the deed recording the minutes of this Meeting. </I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><I>The Extraordinary General Meeting of Shareholders resolved to renew
the authorization to the Board of Directors, or any delegate(s) duly appointed by the Board of Directors, for a period starting on the
date of this Extraordinary General Meeting of Shareholders and ending on the fifth anniversary of the date of the publication in the RESA
of the deed recording the minutes of this Extraordinary General Meeting of Shareholders, from time to time to issue shares within the
limits of the authorized share capital against contributions in cash, contributions in kind or by way of incorporation of available reserves
at such times and on such terms and conditions, including the issue price, as the Board of Directors or its delegate(s) may in its or
their discretion resolve. </I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><I>The Extraordinary General Meeting of Shareholders resolved to renew
the authorization to the Board of Directors, for a period starting on the date of this Extraordinary General Meeting of Shareholders and
ending on the fifth anniversary of the date of the publication in the RESA of the deed recording the minutes of this Extraordinary General
Meeting of Shareholders, to waive, suppress or limit any pre-emptive subscription rights of shareholders provided for by law to the extent
it deems such waiver, suppression or limitation advisable for any issue or issues of shares within the authorized share capital and further
resolved to waive any pre-emptive subscription rights provided for by law and related procedures. </I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><I>The Extraordinary General Meeting of Shareholders resolved that any
issuance of shares for cash within the limits of the authorized share capital shall be subject by provision of the Company&rsquo;s articles
of association to the pre-emptive subscription rights of the then existing shareholders, except in the following cases (in which cases
no pre-emptive rights shall apply): </I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><I>i.</I></TD><TD STYLE="text-align: justify"><I>any issuance of shares (including, without limitation, the direct issuance of shares or upon the exercise
of options, rights convertible into shares, or similar instruments convertible or exchangeable into shares) against a contribution other
than in cash; and</I></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><I>ii.</I></TD><TD STYLE="text-align: justify"><I>any issuance of shares (including by way of free shares or at discount), up to an amount of 1.5% of
the issued share capital of the Company, to directors, officers, agents, employees of the Company, its direct or indirect subsidiaries,
or its affiliates (collectively, the &ldquo;Beneficiaries&rdquo;), including without limitation the direct issuance of shares or upon
the exercise of options, rights convertible into shares, or similar instruments convertible or exchangeable into shares issued for the
purpose of compensation or incentive of the Beneficiaries or in relation thereto (which the Board of Directors shall be authorized to
issue upon such terms and conditions as it deems fit).</I></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><I>&nbsp;</I></P>

<!-- Field: Page; Sequence: 24 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"><I></I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><I>The Extraordinary General Meeting of Shareholders further acknowledged
and resolved to approve the report of the Board of Directors dated 1<SUP>st</SUP> April 2025, in relation with the authorized share capital
and the proposed authorizations to the Board of Directors with respect to any issuance of shares within the authorized share capital while
suppressing any pre-emptive subscription rights of existing shareholders under law and related waiver. Such report of the Board of Directors
remains annexed to the present deed to be registered therewith.</I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt"><B>3.</B></TD><TD STYLE="text-align: justify"><B>The amendment of article 5 &ldquo;<I>Share Capital</I>&rdquo; of the Company&rsquo;s articles of association
to reflect the resolutions on items 1 and 2 of the agenda. </B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The Extraordinary General Meeting of Shareholders is requested to approve
the consequential amendment of article 5 &ldquo;Share Capital&rdquo; of the Company&rsquo;s articles of association to reflect the resolutions
on items 1 and 2 of the agenda<I>.</I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B><I>Draft resolution proposed to be adopted:</I></B><I> &ldquo;The Extraordinary
General Meeting of Shareholders resolved to approve the amendment of article 5 &ldquo;Share Capital&rdquo; of the Company&rsquo;s articles
of association, which shall read as follows:</I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><I>&laquo;Article 5. Share capital. The share capital of the Company is
set at one billion seventy one million nine hundred and ninety four thousand nine hundred and thirty US dollars (USD 1,071,994,930), represented
by one billion seventy one million nine hundred and ninety four thousand nine hundred and thirty (1,071,994,930) shares with a par value
of one US dollar (USD 1) per share.</I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"><I>The authorized capital of the Company shall be two billion five hundred
million US dollars (USD 2,500,000,000.-), including the issued share capital, represented by two billion five hundred million (2,500,000,000)
shares with a par value of one US dollar (USD 1.) per share.</I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"><I>The board of directors, or any delegate(s) duly appointed by the board
of directors, may from time to time, for a period starting on the date of the Extraordinary General Meeting of Shareholders held on 6<SUP>th</SUP>
May 2025 and ending on the fifth anniversary of the date of the publication in the Recueil &eacute;lectronique des soci&eacute;t&eacute;s
et associations (RESA) of the deed recording the minutes of such Extraordinary General Meeting of Shareholders, issue shares within the
limits of the authorized share capital against contributions in cash, contributions in kind or by way of incorporation of available reserves
at such times and on such terms and conditions, including the issue price, as the board of directors, or its delegate(s), may in its or
their discretion resolve.</I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"><I>The Extraordinary General Meeting of Shareholders held on 6<SUP>th</SUP>
May 2025 has authorized the board of directors, for a period starting on the date of such Extraordinary General Meeting of Shareholders
and ending on the fifth anniversary of the date of the publication in the RESA of the deed recording the minutes of such Extraordinary
General Meeting of Shareholders, to waive, suppress or limit any pre-emptive subscription rights of shareholders provided for by law to
the extent it deems such waiver, suppression or limitation advisable for any issue or issues of shares within the authorized share capital,
and has waived any pre-emptive subscription rights provided for by law and related procedures. </I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"><I>Notwithstanding the waiver of any preemptive subscription rights provided
for by law and related procedures, by provision of the present Articles of Association, any issuance of shares for cash within the limits
of the authorized share capital shall be subject to the pre-emptive subscription rights of the then existing shareholders, except in the
following cases (in which cases no pre-emptive subscription rights shall apply): </I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"><I>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any issuance of shares
(including, without limitation, the direct issuance of shares or upon the exercise of options, rights convertible into shares, or similar
instruments convertible or exchangeable into shares) against a contribution other than in cash; and</I></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"><I>&nbsp;</I></P>

<!-- Field: Page; Sequence: 25 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"><I></I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><I>(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any issuance of shares
(including by way of free shares or at discount), up to an amount of 1.5% of the issued share capital of the Company, to directors, officers,
agents, employees of the Company, its direct or indirect subsidiaries, or its affiliates (collectively, the &ldquo;Beneficiaries&rdquo;),
including, without limitation, the direct issuance of shares or upon the exercise of options, rights convertible into shares, or similar
instruments convertible or exchangeable into shares, issued for the purpose of compensation or incentive of the Beneficiaries or in relation
thereto (which the board of directors shall be authorized to issue upon such terms and conditions as it deems fit).</I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"><I>Any issuance of shares within the authorized share capital must be recorded
by notarial deed and this Article 5 must be amended accordingly. </I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"><I>Each share entitles the holder thereof to cast one vote at any shareholders&rsquo;
meeting, subject to applicable law.</I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"><I>The board of directors may authorize the issuance of bonds which may
be but are not required to be, convertible into registered shares, in such denominations and payable in such monies as it shall determine
in its discretion. The board of directors shall determine the type, price, interest rates, terms of issuance and repayment and any other
conditions for such issues. A register of registered bonds shall be held by the Company.&rdquo;</I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>* * * * *</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">In accordance with the Shareholders&rsquo; Rights Law, shareholders holding,
individually or collectively, at least five per cent (5%) of the issued Shares will have the right to (a) include items on the agenda
for the next Annual General Meeting of Shareholders, that will be convened to decide on the Company&rsquo;s 2025 annual accounts; and
(b) propose draft resolutions for the items included or to be included on the agenda for the next Annual General Meeting of Shareholders,
that will be convened to decide on the Company&rsquo;s 2025 annual accounts. To exercise such rights, shareholders holding, individually
or collectively, at least five per cent (5%) of the issued Shares, must submit a written request to the Company not later than twenty-two
days prior to the 2026 annual general meeting of shareholders, satisfying the requirements of the Shareholders&rsquo; Rights Law.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 8.4pt 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 8.4pt 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 8.4pt 0pt 0"><B>Cecilia Bilesio</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 8.4pt 0pt 0">Secretary of the Board of Directors</P>

<P STYLE="font-size: 10pt; margin: 0pt 8.4pt 0pt 0">4<SUP>th</SUP> April 2025.</P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">26</FONT></P>

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
