Saipem: Extraordinary Shareholders’ Meeting approves the convertibility of the equity-linked bonds

Milan (Italy), December 13, 2023 – The Extraordinary Shareholders' Meeting of Saipem S.p.A. (the “Company”), held today, authorized the convertibility into ordinary shares of the Company of the equity-linked bonds issued on September 11, 2023 and due in September 2029, with a nominal amount of €500 million (the “Bonds”).

Within the scope of the transaction execution activities, solely in connection with the conversion of the Bonds, the Extraordinary Shareholders’ Meeting consequently approved the respective increase in the share capital, for cash and in divisible form, excluding shareholders’ pre-emption rights, pursuant to Article 2441, Paragraph 5, of the Italian Civil Code, for a maximum amount of €500 million, including any share premium, to be executed in one or more tranches through the issue of new ordinary shares of the Company, with regular entitlement, having the same characteristics as outstanding ordinary shares, amending Article 5 of the Articles of Association accordingly.

The minutes of the Extraordinary Shareholders’ Meeting and the updated Articles of Association will be made available to the public at the Company’s registered office, on the Company’s website (www.saipem.com | “Governance” – “Shareholders’ Meeting” section), through the authorised storage mechanism “eMarket STORAGE” (www.emarketstorage.com) and on the website of Borsa Italiana S.p.A. (www.borsaitaliana.it), in the manner and under the terms provided for by applicable law.

Saipem is a global leader in the engineering and construction of major projects for the energy and infrastructure sectors, both offshore and onshore. Saipem is “One Company” organized into five business lines - Asset Based Services, Energy Carriers, Offshore Wind, Sustainable Infrastructures, Robotics & Industrialized Solutions. The company has 8 fabrication yards and an offshore fleet of 23 construction vessels (of which 21 owned and 2 owned by third parties and managed by Saipem) and 15 drilling rigs, of which 8 owned. Always oriented towards technological innovation, the company’s purpose is “Engineering for a sustainable future”. As such Saipem is committed to supporting its clients on the energy transition pathway towards Net Zero, with increasingly digital means, technologies and processes geared for environmental sustainability. Listed on the Milan Stock Exchange, it is present in more than 50 countries around the world and employs about 30,000 people of over 120 nationalities.

Website: www.saipem.com

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