Share capital and votes

Number of issued shares: 1,180,536,830

Each share is of par value U.S.$ 1.00 per share and entitles the holder thereof to one vote at Tenaris’s general shareholders’ meetings.

Registered major holders:

The following holders have notified Tenaris of holdings in excess of 5% of its capital or voting rights:

⁽¹⁾ San Faustin N.V. owns all of its shares in the Company through its wholly-owned subsidiary I.I.I. Industrial Investments Inc. Rocca & Partners S.A. controls a significant portion of the voting power of San Faustin N.V. and has the ability to influence matters affecting, or submitted to a vote of the shareholders of, San Faustin N.V., such as the election of directors, the approval of certain corporate transactions and other matters concerning the company's policies. There are no controlling shareholders for Rocca & Partners.

Pursuant to Schedule 13G/A filed with the U.S. Securities and Exchange Commission on February 10, 2010, Capital World Investors, a division of Capital Research and Management Company, is deemed to be the beneficial owner of 48,317,436 ordinary shares of Tenaris, representing 4.1% of Tenaris's capital and voting rights. Accordingly, Capital World Investors has fallen below the 5% share ownership threshold referred to in Luxembourg Transparency Law.

Important notice under Luxembourg law

Under Luxembourg legislation implementing the EU Transparency Directive, investors in Tenaris’s securities should notify Tenaris and the Luxembourg securities commission (the CSSF) on an ongoing basis whenever their direct or indirect ownership or other control rights over shares of Tenaris’s capital or rights to vote such shares either reaches, exceeds or falls below any of the following thresholds: 5%, 10%, 15%, 20%, 25%, 33.33%, 50% and 66.66%. The number of shares and votes set forth above should be used for purposes of determining whether an investor reaches or exceeds each such threshold.

Any such notification to Tenaris under the Luxembourg Transparency Law or its regulations should be made in writing no later than six business days following the date of the transaction giving rise to the notification obligation, using a special form and sent electronically to investors@tenaris.com or by post to:

Tenaris S.A.
46A, Avenue John F. Kennedy
L-1855 Luxembourg
Att: Company Secretary

Any notification to the CSSF shall be made in accordance with CSSF regulations.

This information does not constitute legal advice. Investors are encouraged to seek advice of counsel in connection with their obligations under applicable law and the consequences of failing to comply with any such obligations.