With reference to the subscription of the sale and purchase agreement between Eni S.p.A. (“Eni‘) and Fondo Strategico Italiano S.p.A. (“FSI‘), the object of which is the sale, from Eni to FSI, subject to the occurrence of certain conditions precedent, of a stake in the Saipem S.p.A. (“Saipem‘) share capital, consisting of n. 55,176,364 ordinary shares, equal to 12.5% of the share capital plus one share, as announced to the market on 28 October 2015, Eni and FSI announce that the purchase price of the abovementioned stake will be EUR 463,238,681.60.

The price for each Saipem ordinary share purchased by FSI will therefore be EUR 8.3956.

The price per share is the arithmetic average of the official prices of Saipem ordinary shares recorded during the two trading days prior to, and the four trading days following, Saipem’s announcement to the market of the capital increase - which occurred on 27 October 2015 - and, therefore, during the trading days 26 and 27 October 2015, and during the trading days 28, 29 and 30 October 2015 and 2 November 2015.

The price per share falls within the range of the minimum price (EUR 7.4000) and maximum price (EUR 8.8300) established in the sale and purchase agreement.

About ENI

Eni is an integrated company that operates across the entire energy chain, employing some 78,000 people in 90 countries around the world. Scientific research and technological innovation are at the heart of its strategies for sustainable development.
Eni’s excellent portfolio of conventional oil assets with competitive costs and the strong resource base with options for anticipated monetization ensure a robust value generation at Eni’s upstream activity. The vertical integration provided by the large presence in the gas and lng markets, and the know-how in refining and chemical sectors enable the company to capture synergies and catch joint opportunities and projects in the marketplace.

About Saipem

Saipem operates in the Engineering & Construction and Drilling businesses, with a strong bias towards oil & gas-related activities in remote areas and deep waters. Saipem is a leader in the provision of engineering, procurement, project management and construction services with distinctive capabilities in the design and execution of large-scale offshore and onshore projects, and technological competences such as gas monetization and heavy oil exploitation.