EXTENSION OF CLOSING DATE IN RELATION TO THE GENERAL OFFER BY FINCANTIERI OIL & GAS

Trieste, December 29, 2016 – FINCANTIERI S.p.A. (“Fincantieri” or the “Company”) announces that, in relation to the voluntary conditional 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 ("Vard") other than those already held 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 December 29, 2016 to 5.30 p.m. (Singapore time) on January 12, 2017.