Saipem: Stefano Cavacini appointed Chief Financial Officer (CFO)

CorporateSan Donato Milanese

San Donato Milanese, October 1, 2018 - Saipem announces that with effect from November 15, 2018, Stefano Cavacini will assume the role of Chief Financial Officer of Saipem SpA. with responsibility for Administration, Finance and Control.

Stefano Cavacini, 47, has significant experience in the role of CFO in important multinational groups in the industrial sector.

In the period between Giulio Bozzini's leaving, who will leave the Company on October 15, 2018, as announced on September 13, 2018, and Stefano Cavacini's entry (November 15, 2018), the responsibilities for Administration, Finance and Control functions will be taken by the CEO, Stefano Cao.

Saipem S.p.A. reiterates that, since June 7, 2016, the role of Manager Responsible for the Preparation of the Company's Financial Reports pursuant to article 154-bis of Legislative Decree No. 58/1998 has been held by Mariano Avanzi, Manager of Planning, Administration and Control.

In compliance with the requirements of the Instructions for the Regulations of the Italian Stock Exchange Markets, we inform that Stefano Cavacini does not hold any shares in the Company.

Saipem is one of the world leaders in drilling services, as well as in the engineering, procurement, construction and installation of pipelines and complex projects, onshore and offshore, in the oil & gas market. The company has distinctive competences in operations in harsh environments, remote areas and deepwater. Saipem provides a full range of services with 'EPC' and 'EPCI' contracts (on a 'turn-key' basis) and has distinctive capabilities and unique assets with a high technological content.

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