Saipem: Deep Value Driller AS decides not to finalize the agreement with Saipem for the acquisition of the Deep Value Driller drillship

Milan (Italy), February 25, 2026 – Saipem informs that it will not be possible to complete the acquisition of the Deep Value Driller drilling unit as a result of the decision taken by the seller, Deep Value Driller AS, and communicated by the latter to the market today, to proceed with the sale of the vessel to a third party.

Saipem recalls that, on 17 February 2026, both companies informed the market of the agreement reached on the principal terms and conditions for the acquisition of the Deep Value Driller, and that the execution of the final agreement was subject, inter alia, to the approval of the respective Boards of Directors. Subsequently, on 24 February 2026, Saipem informed the market that the transaction had been authorized by its Board of Directors.

Saipem reserves the right to take any appropriate legal action to safeguard its interests and rights in any forum, without exception.

With reference to the financial results published by Saipem on 24 February 2026, it is specified that the effects of the lack of an agreement for the acquisition of the Deep Value Driller drilling unit result in an improvement of EUR 226 million in the post‑IFRS 16 net financial position as of 31 December 2025, together with a corresponding reduction in Right‑of‑Use assets.

The 2026 guidance, communicated on 24 February 2026, remains confirmed.

--

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 business lines: Asset Based Services, Drilling and Sonsub, Energy Carriers, Offshore Wind, Sustainable Infrastructures. The company has 5 fabrication yards and an offshore fleet of 17 construction vessels owned and 12 drilling rigs, of which 9 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 130 nationalities.

Website: www.saipem.com

Media Relations
E-mail: media.relations@saipem.com

Investor Relations
Alberto Goretti - Head of Investor Relations and Rating Management
E-mail: investor.relations@saipem.com
Phone number: +39 0244231

Contact point for retail investors
E-mail: segreteria.societaria@saipem.com