Tenaris (TS) said late Monday it has decided to terminate on March 3 the second tranche of its share buyback program announced on May 27, 2025.

Tenaris said it had entered into a non-discretionary buyback agreement with a primary financial institution for the execution of this $600 million second tranche of the program.

This tranche started on Nov. 3, 2025, and was set to end no later than April 30, 2026, the company said.

Since the beginning of this tranche, Tenaris has repurchased nearly 29.3 million ordinary shares at an aggregate cost of approximately $583.6 million.

The company said it has exercised its right to terminate this existing buyback agreement as soon as it was allowed to do so under the agreement.