ADR Program

American depositary shares of Tenaris evidenced by American Depository Receipts ("ADR") are listed on the New York Stock Exchange:
NYSE Symbol: TS
ADR ISIN: US88031M1099
ADR CUSIP: 88031M109

One ADR represents two ordinary shares. All shares and ADRs are entitled to participate equally in dividends when, as and if declared by the shareholders at the ordinary general shareholders' meeting, out of funds legally available for such purposes. Tenaris depositary bank for its ADR program is:

Deutsche Bank Trust Company Americas
c/o AST and Trust Co
Peck Slip Station
P.O. Box 2050
New York NY 10272-2050

E-mail: DB@amstock.com

Phone toll free in the U.S.: +1-866-706-8374
If calling from outside the U.S.: +1-718-921-8137


Frequently Asked Questions Regarding Tenaris's
American Depositary Receipt Program