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

Trieste, February 16, 2017 – FINCANTIERI 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 February 16, 2017 to 5.30 p.m. (Singapore time) on March 10, 2017.