Tenaris S.A. (NYSE:TS) Q2 2021 Earnings Conference Call August 5, 2021 10:00 AM ET Company Participants Giovanni Sardagna - Investor Relations Paolo Rocca - Chairman and Chief Executive Officer Alicia Mondolo - Chief Financial Officer Gabriel Podskubka - President, Eastern Hemisphere Operations Luca Zanotti - President, U.S. Operations Conference Call Participants Ian MacPherson - Piper Sandler Igor Levi - BTIG Marc Bianchi - Cowen Vlad Sergievskii - Bank of America Connor Lynagh - Morgan Stanley Alan Spenc ...

Financial Data and Key Metrics Changes - Sales in Q1 2021 reached $1.2 billion, down 33% year-over-year but up 5% sequentially, primarily driven by a recovery in North America [5] - EBITDA for the quarter was $196 million, up 2% sequentially, with an EBITDA margin stable at around 17% [6] - Net income for the quarter was $106 million, benefiting from a strong contribution from the investment in Ternium [6] - Working capital increased by $83 million mainly due to higher inventories, with free cash flow amounting to $25 million [7] Business Line Data and Key Metrics Changes - Average selling prices in the Tubes operating segment declined 4% year-over-year and 5% sequentially due to a poorer geographic sales mix [5] - The U.S. market showed signs of recovery with increased drilling activity, although still below pre-pandemic levels [9] - Pipe prices are on an upward trend, reflecting increased demand and raw material costs [9] Market Data and Key Metrics Changes - The international rig count has bottomed at around 38% versus pre-pandemic levels, with expectations for gradual activity ramp-up in 2021 [21] - The Middle East segment saw particularly low sales in Q1, but a recovery is expected in 2022 due to new contracts [21][22] Company Strategy and Development Direction - The company is focusing on strengthening its position in the U.S. market and expanding its Rig Direct service model [10] - A substantial backlog of orders is expected to exceed $3 billion, supporting significant sales increases in the Middle East from 2022 [12] - The company is investing in decarbonization efforts, with a target to reduce carbon intensity by 30% by 2030, involving an investment of $150 million over four years [15][58] Management's Comments on Operating Environment and Future Outlook - Management noted that while the pandemic is subsiding in some regions, many operations are still in critical conditions, emphasizing the importance of health and safety [15] - The company expects significant increases in sales and EBITDA margins in the upcoming quarters, particularly in North America [27][70] - Management anticipates that the demand for oil and gas will continue to grow in the coming years, with consolidation trends expected in the OCTG market [65] Other Important Information - The company is advancing its digital tools to optimize operations and reduce lead times [14] - A contract for the supply of pipes for an offshore pipeline in Norway was awarded, reflecting the company's involvement in low-carbon energy projects [13] Q&A Session Summary Question: Insights on Kuwait tender and revenue expectations - Management confirmed that the Kuwait contract will significantly increase shipments in 2022, with expectations for a recovery in Middle East sales [20][22] Question: Impact of hiring on startup expenses - Management indicated that while there will be some startup costs, these are included in the EBITDA margin guidance [24] Question: Volume and ASP expectations for Q2 and Q3 - Management expects significant increases in volume and sales prices, particularly in North America, with a target EBITDA margin of around 20% for Q3 [27][28] Question: Raw material costs and cost of goods sold - Management explained that the impact of rising raw material costs will be gradual, with cost containment due to increased production levels [31][34] Question: Energy transition projects and margins - Management noted that margins for carbon capture and hydrogen projects are similar to those for complex offshore pipelines [35] Question: Volume growth expectations - Management anticipates significant volume growth exceeding 10% in the next two quarters, driven by increased market activity [61] Question: Consolidation trends in the OCTG market - Management acknowledged ongoing consolidation trends and expressed readiness to consider value-creating opportunities in the market [65]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 or Shell company report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission file number: 001-31518 Registration statement pursuant to Section 12(b) or 12(g) of the Securities Exchange Act of 1934 or Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2020 or FORM 20-F (Mark One) Transition report pursuant to Section 13 or 15(d) of the S ...

Tenaris S.A. (NYSE:TS) Q4 2020 Earnings Conference Call February 25, 2021 3:00 AM ET Company Participants Giovanni Sardagna - Director of Investor Relations Paolo Rocca - Chairman & Chief Executive Officer Luca Zanotti - President, U.S. Operations Gabriel Podskubka - President, Eastern Hemisphere Operations Conference Call Participants Igor Levi - BTIG Ian MacPherson - Simmons Sean Meakim - JPMorgan Marc Bianchi - Cowen Frank McGann - Bank of America Alan Spence - Jefferies David Anderson - Barclays Amy Won ...

Financial Data and Key Metrics Changes - Third quarter sales were $1 billion, down 43% year-over-year and 18% sequentially, primarily due to declining drilling activity in the U.S. and globally [5] - EBITDA for the quarter was $107 million, up 83% sequentially, with an EBITDA margin recovering to around 11% [5][6] - Free cash flow generated was $376 million, representing 37% of revenues, with a net cash position of $1.1 billion at the end of the quarter [6] Business Line Data and Key Metrics Changes - The average selling prices for Tubes declined by 9%, impacting overall sales [5] - The company achieved significant efficiency in industrial operations despite low production levels, contributing to improved margins [8] Market Data and Key Metrics Changes - The rig count in the U.S. increased from 246 to close to 300, indicating a gradual market recovery [32] - In Argentina, rig count increased to 25 rigs, showing positive signs despite economic difficulties [31] Company Strategy and Development Direction - The company established a joint venture in China with Baogang Baotou Steel to enhance its presence in the onshore oil and gas industry [9] - In Canada, the company closed its Prudential mill to consolidate production, investing $72 million to strengthen competitiveness [10] - The company is focusing on the energy transition, participating in projects related to hydrogen mobility and infrastructure [12] Management's Comments on Operating Environment and Future Outlook - Management noted that the third quarter represented the bottom in terms of volume and sales, with expectations for gradual improvement in the fourth quarter and into 2021 [14] - The ongoing pandemic and government measures are expected to slow down the recovery in global oil consumption and investment [14] Other Important Information - The Board approved an interim dividend payment of $0.07 per share, to be paid on November 25 [6] - The company is advancing its strategic agenda while supporting local health and education systems during the pandemic with a $6 million fund [9] Q&A Session Summary Question: Margin improvement and moving parts from Q2 to Q3 - Management highlighted that margin improvement was due to less disruption from COVID than expected, effective execution of cost reduction plans, and additional demand in certain markets [20][22] Question: Impact of input costs versus pricing - Management acknowledged rising input costs but noted that inventory streamlining mitigated immediate impacts on margins [24][26] Question: Market share growth and rig count recovery - Management confirmed that they likely gained market share and noted a gradual increase in rig count, particularly in the U.S. [31][32] Question: Structural cost reductions and their permanence - Management indicated that many cost reductions are structural and will remain, with ongoing efforts to streamline operations [39] Question: Cash flow and CapEx outlook - Management projected CapEx for 2021 to be around $160 million to $170 million, with continued positive cash flow expected [87] Question: Inventory levels and market conditions - Management reported that inventory levels in the U.S. have decreased to around 11 months, with a need for larger operators to resume drilling for further recovery [52] Question: Strategic acquisitions and market positioning - Management expressed openness to strategic acquisitions, leveraging financial strength to position the company for long-term growth amid industry consolidation [94]

Tenaris S.A. (NYSE:TS) Q2 2020 Earnings Conference Call August 6, 2020 10:00 AM ET Company Participants Giovanni Sardagna - IR Director Paolo Rocca - Chairman & Chief Executive Officer Alicia Mondolo - Chief Financial Officer Guillermo Vogel - Vice Chairman & Member Board of Directors German Cura - Vice Chairman & Member Board of Directors Gabriel Podskubka - President, Eastern Hemisphere Operations Luca Zanotti - President, US Operations Conference Call Participants Sean Meakim - JPMorgan Frank McGann - Ba ...

Tenaris SA (NYSE:TS) Q1 2020 Earnings Conference Call April 30, 2020 10:00 AM ET Company Participants Giovanni Sardagna - IR Director Paolo Rocca - Chairman & CEO Gabriel Podskubka - President, Eastern Hemisphere Germán Curá - Vice Chairman Luca Zanotti - President, U.S.A. Operations Conference Call Participants Igor Levi - BTIG Sean Meakim - JPMorgan Chase & Co. Ian MacPherson - Simmons Marc Bianchi - Cowen and Company Alessandro Pozzi - Mediobanca John Letizia - Stifel, Nicolaus & Company Vlad Sergievskii ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F or ☐ Shell company report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission file number: 001-31518 (Mark One) ☐ Registration statement pursuant to Section 12(b) or 12(g) of the Securities Exchange Act of 1934 or ☒ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2019 or ☐ Transition report pursuant to Section 13 or 15(d) ...

Ternium – First Quarter 2020 Earnings Conference Call and Webcast 1 First Quarter 2020 Earnings Conference Call and Webcast April 29, 2020 Forward-Looking Statements This presentation contains certain forward-looking statements and information relating to Ternium S.A. and its subsidiaries (collectively, "Ternium") that are based on the current beliefs of its management as well as assumptions made by and information currently available to Ternium. Such statements reflect the current views of Ternium with res ...

Financial Data and Key Metrics Changes - In Q4 2019, sales reached $1.7 billion, down 17% year-over-year and 1% sequentially, primarily due to a slowdown in Argentina and lower prices in the Americas [6][10] - Quarterly EBITDA was $290 million, down 10% sequentially, with EBITDA margins decreasing to around 17% due to a drop in average selling prices and higher professional fees related to the IPSCO acquisition [6][10] - Cash flow from operations was $264 million, and the net cash position rose by $60 million to $990 million after an interim dividend payment of $153 million and capital expenditures of $80 million [7][12] Business Line Data and Key Metrics Changes - Average selling prices in the tubes operating segments declined by 3% compared to Q4 2018 and Q3 2019 [6][10] - The integration of IPSCO is expected to initially act as a drag on results due to high inventory and operational losses, but synergies are anticipated to improve profitability in the second half of 2020 [13][45] Market Data and Key Metrics Changes - In the U.S. market, despite a 10% drop in rig count, the company maintained sales levels due to a significant drop in imports, which fell to 35% of demand in Q4 2019 [25][26] - The company expects a low recovery in Argentina and sees potential growth in the Gulf of Mexico and Brazil in the second half of 2020 [78][79] Company Strategy and Development Direction - The company aims to strengthen its position in key markets through the integration of IPSCO and the expansion of its technology portfolio [14][16] - A focus on reducing environmental impact and improving operational efficiency is emphasized, with a commitment to sustainability [17][20] Management's Comments on Operating Environment and Future Outlook - Management noted that 2019 was more challenging than expected, with a prolonged adjustment in drilling activity in the U.S. and political uncertainty in Argentina affecting investment [9][10] - The company does not expect substantial changes in the market environment in 2020, but is cautious about the potential impact of the Coronavirus on the global economy and oil prices [20][21] Other Important Information - The Board proposed an annual dividend of $0.41 per share, which includes the interim dividend already paid [7] - The company completed significant investments to improve air quality and reduce its environmental footprint [17][19] Q&A Session Summary Question: North American numbers and rig count performance - Management explained that despite a reduction in rig count, they maintained their position due to a significant drop in imports and leveraging their manufacturing footprint [25][26] Question: IPSCO asset performance and Q1 drag - Management acknowledged that IPSCO's performance would negatively impact Q1 results but emphasized that synergies would gradually improve profitability [29][45] Question: Expectations for first quarter revenues - Management indicated that Q1 EBITDA margins would align with Q4 margins, affected by IPSCO's drag and other costs [38][41] Question: Pricing expectations in the first quarter - Management noted that pricing dynamics are complex, with a 5% reduction in Pipe Logix pricing not fully reflected in their pricing [43] Question: Cash flow expectations for 2020 - Management expects a positive contribution from working capital in 2020, estimating around $200 million [73][74] Question: Extraordinary expenses related to IPSCO - Management estimated extraordinary expenses for Q1 to be in the range of $15 million to $20 million [80] Question: Normalized margins for IPSCO - Management stated that they expect to establish leadership in the market and improve margins through synergies and operational efficiencies [67][69] Question: International market pricing - Management indicated that international pricing remains competitive, with some positive momentum in specific niches [71] Question: Joint venture in Russia - Management confirmed that the joint venture in Russia is progressing well, with a planned investment of around $70 million for 2020 [92][94]