REGULATED INFORMATION

Notice of Extraordinary Shareholders’ Meeting(pursuant to art. 125-bis, paragraph 1, Legislative Decree 58/1998)

San Donato Milanese (Milan), November 2, 2015 – Shareholders of Saipem S.p.A. (hereinafter “Saipem” or “Company”) are hereby invited to attend the Extraordinary Shareholders' Meeting, which will be held in Saipem’s Offices (IV Palazzo Uffici), San Donato Milanese, Via Martiri di Cefalonia 67, at 10.00 a.m. (CET), onDecember 2, 2015 on single call.

Agenda

1.Elimination of the nominal value of the ordinary shares and savings shares. Amendment to articles 5 and 6 of the Company’s Articles of Association - related and consequent resolutions.

2.Proposed share capital increase, in one or more tranches, for a maximum overall amount (including share premium, if any) of €3,500 million , through the issue of ordinary shares with normal entitlement and identical in character to the shares of Saipem S.p.A. currently in circulation, to be offered to current holders of Saipem ordinary or savings shares pursuant to art. 2441, paragraph 1, of the Italian Civil Code. Amendment to art. 5 of the Company’s Articles of Association - related and consequent resolutions.

Information relating to methods and terms for:

  • attending and voting at the Shareholders’ Meeting (please note that the record date is November 23, 2015)
  • attending and voting by proxy or conferring a proxy to the Designated Representative (Mr. Dario Trevisan)
  • exercising the right to add items to the meeting agenda, the right to submit new resolution proposals and the right to ask questions on items on the agenda
  • accessing reports on the items on the agenda and all Shareholders’ meeting documentation,

are detailed in the notice of meeting available at – under the section “Shareholders’ meeting”, through the authorised “Nis Storage” mechanism at , and at BorsaItalianaS.p.A. .

Information relating to the share capital are also available at – under the section “Shareholders’ meeting”

This extract has been published in the newspaper “Il Sole 24 Ore” on November 2, 2015.

On behalf of the Board of Directors

The Chairman

Paolo Andrea Colombo

Saipem operates in the Engineering & Construction and Drilling businesses, with a strong bias towards oil & gas-related activities in remote areas and deep-waters. Saipem is a leader in the provision of engineering, procurement, project management and construction services with distinctive capabilities in the design and execution of large-scale offshore and onshore projects, and technological competences such as gas monetization and heavy oil exploitation.

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