Analyst Coverage

Firm  Analyst
Allaria Ledesma     Christian Reos
Banca Akros   Enrico Filippi
Banca Leonardo   Filippo Prini
Bank of America Merrill Lynch   Frank McGann
Berenberg Bank   Bezen Erkmen-Hong
Cassa Lombarda   Serge Escudé / Alberto Brioschi
Cheuvreux   Marco Baccaglio
Credit Suisse   Subhra Kanti Das
Deutsche Bank   Marcus Sequeira
Exane BNP Paribas   Raphael Veverka
Goldman Sachs   Daniel Boyd
Guggenheim   Michael LaMotte
Intermonte   Paolo Citi
Itaú Securities   Paula Kovarsky
Jefferies   Stephen D. Gengaro
JP Morgan   Sergio Torres
Mediobanca   Andrea Scauri
Morgan Stanley   Ole Slorer
Natixis   Julien Laurent
Raymond James   Ricardo Cavanagh
Santander   Christian Audi
UBS   Alex Brooks
Unicredit   Alessandro Falcioni

Tenaris S.A. is followed by the analyst(s) listed above. Please note that any opinions, estimates or forecasts regarding Tenaris S.A.'s performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of Tenaris S.A. or its management. Tenaris S.A. does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.