FINAL CLOSING DATE IN RELATION TO THE GENERAL OFFER BY FINCANTIERI OIL & GAS FOR VARD SHARES

10 March 2017

Trieste, March 10, 2017FINCANTIERI S.p.A. (“Fincantieri” or the “Company”) announces that, in relation to the voluntary unconditional general offer ("Offer") launched on November 13, 2016 by its subsidiary Fincantieri Oil & Gas S.p.A. ("Fincantieri O&G") for all the ordinary shares of Vard Holdings Limited other than those already owned, controlled or agreed to be acquired by Fincantieri O&G, its related corporations and their respective nominees, the closing date of the Offer is extended from 5.30 p.m. (Singapore time) on March 10, 2017 to 5.30 p.m. (Singapore time) on March 24, 2017. The Offer will not be extended beyond 5.30 p.m. (Singapore time) on March 24, 2017.

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The directors of Fincantieri O&G (including any who may have delegated detailed supervision of this press release) have taken all reasonable care to ensure that the facts stated and all opinions expressed in this press release are fair and accurate and that no material facts have been omitted from this press release, and they jointly and severally accept responsibility accordingly. Where any information has been extracted or reproduced from published or otherwise publicly available sources (including, without limitation, in relation to Vard), the sole responsibility of the directors of Fincantieri O&G has been to ensure through reasonable enquiries that such information has been accurately and correctly extracted from such sources or, as the case may be, reflected or reproduced in this press release.

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FINAL CLOSING DATE IN RELATION TO THE GENERAL OFFER BY FINCANTIERI OIL & GAS FOR VARD SHARES