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Tenaris Giovanni Sardagna Tenaris 1-888-300-5432 www.tenaris.com Press Release Tenaris Announces 2021 First Quarter Results The financial and operational information contained in this press release is based on unaudited consolidated condensed interim financial statements presented in U.S. dollars and prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standard Board and adopted by the European Union , or IFRS . Additionally , this press release includes non - IFRS alternative performance measures i.e. , EBITDA , Net cash / debt and Free Cash Flow . See exhibit I for more details on these alternative performance measures . Luxembourg , April 28 , 2021. - Tenaris S.A. ( NYSE and Mexico : TS and MTA Italy : TEN ) ( " Tenaris ” ) today announced its results for the quarter ended March 31 , 2021 in comparison with its results for the quarter ended March 31 , 2020 . Summary of 2021 First Quarter Results ( Comparison with fourth and first quarter of 2020 ) 1Q 2021 4Q 2020 1Q 2020 Net sales ( $ million ) 1,182 1,131 5 % 1,762 ( 33 % ) Operating income ( loss ) ( $ million ) 52 7 598 % ( 510 ) Net income ( loss ) ( $ million ) 101 110 ( 8 % ) ( 666 ) Shareholders ' net income ( loss ) ( $ million ) 106 107 ( 0 % ) ( 660 ) Earnings ( losses ) per ADS ( $ ) 0.18 0.18 0 % ( 1.12 ) Earnings ( losses ) per share ( $ ) 0.09 0.09 0 % ( 0.56 ) EBITDA ( $ million ) 196 192 2 % 280 ( 30 % ) EBITDA margin ( % of net sales ) 16.6 % 17.0 % 15.9 % * EBITDA is defined as operating income ( loss ) plus depreciation , amortization and impairment charges / ( reversals ) . EBITDA includes severance charges of $ 5 million in 1Q 2021 , 37 million in 4Q 2020 and $ 23 million in 1Q 2020. If these charges were not included EBITDA would have been $ 201 million ( 17.0 % ) in 1Q 2021 , $ 229 million ( 20.3 % ) in 4Q 2020 and $ 303 million ( 17.2 % ) in 1Q 2020 . Our sales in the first quarter increased 5 % sequentially as a recovery in sales in North America was tempered by lower sales in the Eastern Hemisphere . EBITDA , which included $ 23 million of additional costs associated to the Winter Storm Uri , increased 2 % sequentially reflecting continued improvements in our industrial performance . Net income benefited from a strong contribution from our investment in Ternium . 1