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

Trieste, 19 September 2018 – FINCANTIERI S.p.A. announces that, in relation to the exit offer ("Offer") by its subsidiary Fincantieri Oil & Gas S.p.A. ("Fincantieri O&G") for all the issued ordinary shares in the capital of Vard Holdings Limited ("Vard") 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 for the Offer is extended from 5.30 p.m. (Singapore time) on 19 September 2018 to 5.30 p.m. (Singapore time) on 15 October 2018. The Offer will not be extended beyond 5.30 p.m. (Singapore time) on 15 October 2018.