TENARIS S A

Ticker: TS CUSIP: 88031M109 Class: ADR

DELPHI MANAGEMENT INC /MA/'s Holding History (CIK: 0000767684)

Note: Option positions (PUT/CALL) are excluded.

Q3 2013
Shares 192,819 Value ($000) $9,020 Avg Close — Range —
Q2 2013
Shares 200,494 Value ($000) $8,074 Avg Close — Range —
Q1 2013
Shares 198,678 Value ($000) $8,102 Avg Close — Range —