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Tenaris Giovanni Sardagna Tenaris 1-888-300-5432 www.tenaris.com Tenaris Announces 2021 Third 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 , Free cash flow and Net cash / debt . See exhibit I for more details on these alternative performance measures . Luxembourg , November 3 , 2021 Tenaris S.A. ( NYSE and Mexico : TS and EXM Italy : TEN ) ( " Tenaris " ) today announced its results for the quarter and nine months ended September 30 , 2021 with comparison to its results for the quarter and nine months ended September 30 , 2020 . - Summary of 2021 Third Quarter Results ( Comparison with second quarter of 2021 and third quarter of 2020 ) 3Q 2021 2Q 2021 1,529 152 290 294 0.50 0.25 301 19.7 % Net sales ( $ million ) Operating income ( loss ) ( $ million ) Net income ( loss ) ( $ million ) Shareholders ' net income ( loss ) ( $ million ) Earnings ( losses ) per ADS ( $ ) Earnings ( losses ) per share ( $ ) EBITDA ( $ million ) EBITDA margin ( % of net sales ) Press Release 1,754 231 326 330 0.56 0.28 379 21.6 % 15 % 52 % 12 % 12 % 12 % 12 % 26 % 3Q 2020 1,013 ( 70 ) ( 36 ) ( 33 ) ( 0.06 ) ( 0.03 ) 107 10.6 % 73 % 254 % Our sales in the third quarter rose by a further 15 % sequentially , led by North and South America , even as sales in the Middle East continue to be affected by destocking and those in Europe by seasonal factors . Our EBITDA margin rose above 20 % following an increase in average selling prices while the increase in cost of sales was contained , despite higher raw materials and energy costs , by an improved industrial performance and higher absorption of fixed costs .