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 voting rights:

Holder Number of shares Percentage of Share Capital
San Faustín S.A. (1) 713,605,187 60.45
Aberdeen Asset Management PLC's (2) 78,440,329 6.64

(1) San Faustin owns all of its shares in the Company through its wholly-owned subsidiary Techint Holdings S.à r.l. The Dutch private foundation (Stichting) Rocca & Partners Stichting Administratiekantoor Aandelen San Faustin ("RP STAK") holds voting rights in San Faustin sufficient to control San Faustin. No person or group of persons controls RP STAK.

(2) In April, 2016, Aberdeen Asset Management PLC informed Tenaris that it had been delegated the right to exercise the voting rights over 58,945,801 of Tenaris's Shares, representing 4.99% of Tenaris's votes.


Important notice under Luxembourg law

Under Luxembourg legislation implementing the EU Transparency Directive, each investor in Tenaris’s securities should notify Tenaris and the Luxembourg securities commission (the CSSF) on an ongoing basis whenever the proportion of Tenaris’s voting rights held or controlled by such investor reaches, exceeds or falls below any of the following thresholds: 5%, 10%, 15%, 20%, 25%, 33.33%, 50% and 66.66%. The number of securities 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 trading days following the date of the transaction giving rise to the notification obligation, or four trading days following Tenaris’s announcement of an amendment to the total number of voting rights outstanding, using special forms (ANNEXE A and ANNEXE A bis) and sent electronically to investors@tenaris.com or by post to:


Tenaris S.A.
29 Avenue de la Porte-Neuve
3rd Floor
L-2227 Luxembourg
Att: Company Secretary

Any notification to the CSSF shall be made in accordance with CSSF regulations, including Circulaires CSSF 08/337 and CSSF 08/349, as amended.

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.