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

The depositary bank for Tenaris's ADR program is Deutsche Bank Trust Company Americas. The depositary bank plays a key role in issuance as well as cancellation of ADRs. It also maintains the ADR holder register, makes payments of dividends to ADR holders and facilitates the exercise by the ADRs holders of their voting rights, in accordance with the ADR Deposit Agreement and subject to limitations in applicable law.

ADR holders can contact Deutsche Bank at:

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

The ticker symbol for Tenaris ADRs on the NYSE (New York Stock Exchange) is "TS".

One ADR represents two ordinary shares.

Tenaris is subject to the periodic reporting requirements of the U.S. Securities Exchange Act of 1934, as amended, and, accordingly, files or furnishes certain information with the U.S. Securities and Exchange Commission ("SEC"). These reports are available on the SEC's EDGAR system at www.sec.gov or at the public reference facilities maintained by the SEC located at 100 F Street, N.E., Washington, DC 20549, U.S.A.

Before investing in Tenaris's ADRs, you should review Tenaris's most recent Annual Report on Form 20-F, including the information set forth under "Item 3—Key Information—Risk Factors," and the other information furnished by Tenaris to the SEC.

For additional corporate and financial information on Tenaris, please visit: http://ir.tenaris.com/.

You may find information on our depositary receipt services at http://www.adr.db.com. Alternatively you may contact Deutsche Bank Trust Company Americas Shareholder Services on toll-free number +1 866 706 0509 or Direct Dial: +1 718 921 8137.

Registered ADR holders (those whose name appear on the books of the depositary bank, Deutsche Bank) may elect to receive electronic notice/delivery through our agent. Starting on the date on which shareholder meeting materials are made publicly available on our website, ADR holders can elect to receive future meeting materials electronically, though our agent's website (https://secure.amstock.com/shareholder/sh_login.asp).You can also make this e-Delivery election by contacting our agent by mail, providing your e-mail address and confirming your e-Delivery preference.

Beneficial ADR holders (whose holdings are registered in a name other than their own, such as in the name of a broker, bank or nominee) must route all their requests for shareholder information through the bank, broker or nominee.