Analyst Coverage

Firm  Analyst
Allaria Ledesma     Christian Reos
AR Partners   Santiago Wesenack
Bank of America Merrill Lynch   Frank McGann
Barclays   J. David Anderson / Vlad Sergievskiy
Bernstein   Nicholas Green
Capital One Southcoast   Joseph D. Gibney
Citi   Pedro Medeiros
Cowen   Marc Bianchi
Credit Suisse   Michael Shillaker
Equita   Luigi De Bellis
Evercore   James West
Exane BNP Paribas   Raphael Veverka
Fidentiis   Guglielmo Marco Opipari
Goldman Sachs   Maria Laura Adurno
Guggenheim   Michael LaMotte
Howard Weil   Blake Hutchinson
Intermonte   Paolo Citi
Intesa Sanpaolo   Bruno Permutti
Macquarie Securities   David Farrell
Mediobanca   Alessandro Pozzi
Morgan Stanley   Robert Pulleyn
Natixis   Julien Laurent
Redburn   Michael Rae
Santander   Christian Audi
UBS   Amy Wong

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.