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SAIPEM AT A GLANCE “More than 60 years of history and leadership WHO WE ARE in energy and infrastructures have made a reference point, a global solution provider that is addressing the great changes a Global taking place worldwide with cutting-edge technologies and far- reaching sustainable Solution Provider business models protecting the environment and valuing people. We are leaders in and drilling activities, and in the completion of great projects In the age of the energy transition, Saipem in the energy and infrastructure sectors. can provide new solutions and more effective A company with distinctive skills and competences business models, with greater flexibility in and high-tech assets, capable of identifying decision making: a reliable partner for clients and developing multiple solutions to satisfy that innovates and creates value throughout clients’ needs. the entire project life cycle. Listed on the Stock Exchange, Thanks to its creative intelligence, the high we are present in more than 70 countries worldwide level of competence of its people and its ability and we have more than 35,000 employees to design and build extraordinary works in of more than 120 different nationalities. challenging environments, Saipem is a virtuous model of Italian excellence able to seize, manage and consolidate opportunities in every corner of the planet. We are a “One Company” organized in five business divisions. Today, Saipem has what it takes to promote the energy of the future and infrastructure XSIGHT Project Definition Services development worldwide, as described in the following pages.” E&C Engineering & Stefano Cao CEO ONSHORE E&C Engineering & Construction OFFSHORE Drilling

ONSHORE Drilling

2 SAIPEM AT A GLANCE 3 GLOBAL SOLUTION MAIN NUMBERS PROVIDER

WE ARE AN INTERNATIONAL We offer tailor-made PLAYER IN THE ENERGY solutions ›35,000 120+ INDUSTRY AND EMPLOYEES DIFFERENT INFRASTRUCTURES We support our clients NATIONALITIES throughout the entire project We possess unique engineering cycle - from identifying skills with high added value for needs to decommissioning, managing complex projects. employing all our professional 70+ 9 COUNTRIES IN WHICH FABRICATION expertise to operate in the WE OPERATE YARDS most challenging contexts.

We ENABLE the energy We have a sense transition of responsibility We have launched the The health and safety of people € 9.1 bln €1.2 bln challenge in the gas value and operations, attention REVENUES ADJUSTED chain and infrastructures to environmental impact 2019 EBITDA 2019* sectors, renewable energy and collaboration with local and the creation of hybrid stakeholders are our priorities. and clean plants. €336 mln €20 bln INVESTMENTS New contracts 2019 awarded in 2019 **

€25 bln 2,720**** BACKLOG AT 2019 ACTIVE YEAR END *** PATENTS 18 €79 mln NEW PATENTS INVESTED FILED IN 2019 IN INNOVATION 2019

* Post IFRS-16. Excluding special items. ** Including new contracts awarded to non-consolidated companies. *** Including non-consolidated companies’ backlog. **** Including about 90 patent titles acquired by CO2 Solutions Inc.

4 SAIPEM AT A GLANCE 5 WHAT DRIVES US OUR VALUES OUR MISSION WHAT WE BELIEVE IN SAIPEM’S COMMITMENTS Creative intelligence Care for people To complete extraordinary & planet Ingenuity, intelligent flexibility projects by pushing beyond and innovative approach: A sincere commitment the frontiers of innovations, our keys to anticipating to protecting the health opening the way for our clients global change, overcoming and safety of our employees towards the energy of the future. every challenge. and our natural habitat.

StrivING for trust Enhancement OUR VISION of cultural identitIES A total dedication WHAT WE ASPIRE TO BE to reliability towards Diversity is our unique value. our clients and partners. Cross fertilization consistently To turn the dreams of our clients nurtures our corporate growth. into reality thanks to our ability to innovate and our technological competence, supporting their progress in the energy transition.

6 SAIPEM AT A GLANCE 7 EXTRAORDINARY IS OUR CHOICE

Saipem makes great things happen With proven capabilities and a hands-on, co-operative and consistently innovative approach, Saipem builds long-term relationships, maintains intellectual and operational flexibility, and succeeds where others can’t.

Engineering the extraordinary There are many companies which can develop standard projects, where the work is simple and predictable. But Saipem operates in a context of breathtaking complexity, in areas of the world that are technically and logistically challenging. There is nothing obvious in our business.

8 SAIPEM AT A GLANCE 9 OUR 01. PILLARS SUSTAINABLE BUSINESS Integrity, honesty, respect, inclusion, traNsparency and fairness. In 2016 Saipem joined Our business principles. the UN Global Compact, truly committed to making this initiative and its principles an integral part As a global solution provider, The creation of employment of Company’s business strategy, leader in the transition opportunities, a robust day-to-day operations to a more sustainable use capacity-building effort and organizational culture. of resources, Saipem invests in the local socio-economic in competences, innovation context and the transfer and environmentally sound of know-how to local workers technologies, building are the most important UNGC on a strong track record. legacies Saipem leaves ADHERES TO THE UN GLOBAL COMPACT It cooperates with its in the countries in which stakeholders in the protection it operates. of the environment and FTSE4GOOD ecosystems and contributes Sustainable business for INCLUDED IN THE FTSE4GOOD SERIES INDEX to the fight against climate Saipem is based on integrity, change. honesty, respect, inclusion, DOW JONES SUSTAINABILITY INDEX transparency and fairness. 2019 Sector Leader The Company’s sustainable Saipem considers diversity business strategy aims a source of enrichment to meet the needs and and added value. GOLD CLASS MEDAL 2019 ROBECOSAM SUSTAINABILITY YEARBOOK the expectations of its stakeholders, tackling The Company has a strong the challenges posed commitment to protecting by the evolution of global and promoting Human and scenarios and improving the Labour Rights, as demonstrated standards of living and the by its responsibility towards socio-economic development its people as well as by the of the communities in which attention it places on having an Saipem operates. ethical and reliable supply chain.

10 SAIPEM AT A GLANCE 11 OUR 02. OUR JOURNEY TO A SAFER PILLARS HEALTH & SAFETY AND BETTER FUTURE, WHERE:

Health, safety RESPECT AND WELL and environmental BEING OF PEOPLE culture. COME FIRST Everyone embraces Enhancing the efficiency the same passion for life, of its operations and becoming safety and health regardless a key partner for its clients of position and hierarchy. in their energy transition Saipem is a community. is part of Saipem’s business objectives. KNOWLEDGE Our commitment towards AND COMPETENCES climate change is also ARE SHARED reflected in its Quadrennial Everyone masters their job, Green House Gas Strategic cooperating to build a clean, Plan whose identified actions efficient and safe working will result in a significant environment for all. reduction in Saipem’s GHG Saipem is a safe work place. emissions in the coming years. TRUST AND COLLABORATION ARE VALUED Everyone works in harmony, is aware of hazards and communicates clearly and transparently. Saipem is a team.

TECHNOLOGY AND INNOVATION ARE KEYS TO SUCCESS Everyone is proud of working for an extraordinary and safe company. Saipem is the future.

12 SAIPEM AT A GLANCE 13 OUR 03. PILLARS INNOVATION

“Enabling the industry to meet the global energy demand in a sustainable way is the main power of our innovation”

Technology innovation has projects, and the need to always been one of Saipem’s develop novel solutions strongest strategic pillars over reflecting the changing the last 60 years. Nowadays macro-scenarios, especially the energy industry needs to the energy scenario. Actually, sharply renew its focus in order Technology Innovation is to cope both with immediate one of the key levers to drive and future challenges which Saipem towards the target also include the achievement of a progressive and effective of global decarbonization energy decarbonization. targets. In this framework Saipem plays the role of a Our Innovation model is global solution provider, where encompassing two dimensions: innovation remains a main pillar first, ‘evolutionary’, aiming at of its strategy plan. efficiency improvement, the second one ‘disruptive’ to drive Consequently, our Innovation Saipem through the future. In model is a synthesis between the latter respect, we leverage the urgency to implement on our ‘Innovation Factory’, concrete solutions, mostly Saipem’s idea incubator. driven by current commercial

10 technology innovation centRES IN 7COUNTRIES OUR MAIN INNOVATION TARGETS ARE:

further exploitation of gas to sustain the energy transition (i.e. LNG, Urea);

gradual transfer of offshore surface production facilities to the seabed and underwater life-of-field solutions;

carbon-neutral operations and green technologies throughout the entire onshore EPC value chain;

new business segment portfolio in E&C as offshore wind farms;

innovative low-carbon solutions for clients, including renewable energy,

as floating wind, ocean energy, CO2 management and circular economy;

Digital Transformation. 14 SAIPEM AT A GLANCE 15 One company, multiple solutions

A GLOBAL FORWARD THINKER

OFFSHORE E&C RULING THE WORLD OF THE SEA

OnSHORE E&C ENABLING THE WORLD ENERGY TRANSITION

OFFSHORE DRILLINg RAISING THE STANDARD OF DRILLING OPERATIONS

OnSHORE DRILLINg LEADING TOWARDS THE SAFEST AND MOST RELIABLE PERFORMANCE

16 SAIPEM AT A GLANCE 17 Artistic view OUR of the FOD project. DIVISIONS A GLOBAL FORWARD THINKER

We anticipate market challenges, we seize opportunity. We drive change, setting new standards.

Adding value to our clients from early phases of project definition: bankable feasibility studies (Conceive), basic design (Architect), pre/feed (Develop) and services for life cycle extension (Enhance)

Offering a wide range of premium services, including financial advisory and engagement with funding institutions, to provide tailor-made solutions to our clients, leveraging on our international network

Covering all products of the energy industry: Oil&Gas upstream, mid and downstream in an integrated way with green and renewable technologies

Deploying innovative and sustainable solutions that fully exploit the advantages offered by digitalization, cloud computing and data analytics

KEY PROJECTS

PETROCHEMICAL • PMC services for advanced oil SYNGAS & FERTILIZER Mejillones Fields, Petrolera RN Ltd., • TPC complex expansion study, refining unit, , • Concept study for a new fertilizer Venezuela (under execution) Tabriz Petrochemical Company, Iran • FEED for fuel oil destruction project complex, OTEKO, Russia • FEED for Ca Voi Xanh (Blue Whale), REFINERY phase 1, Raffineria di Milazzo, UPSTREAM & LNG ExxonMobil, Vietnam (under RENEWABLES & GREEN execution) • Process design package for slurry TECHNOLOGIES • Conceptual engineering for Patao • Study and FEED for Bahia Blanca residue hydrocraking units in & Mejillones fields, Petrolera RN fractionation plant/NGL pipeline Maoming & Zhejiang refineries, , • Feasibility study for waste to fuel Ltd., Venezuela expansion capacity, Compañía China plants, Syndial, Italy • Pre-FEED engineering for Patao & Mega, Argentina (under execution) • Detailed design for the • KiteGen 3MW prototype building modernization of the Talara development, Italy refinery, Cobra, Peru • CO2 capture and storage (under execution) technology comparison study

18 SAIPEM AT A GLANCE 19 Saipem FDS 2, OUR OFFSHORE Field Development Ship. DIVISIONS E&C RULING THE WORLD OF THE SEA

We are a leading offshore global solution provider. Water for us has no limits, from early engagement to end of asset life, through technology, innovation and management of distinctive assets.

Strategic Markets: Subsea Field Development (Deepwater, Tie-Backs, Life of Field) Conventional Field Development (Fixed Platforms and Facilities) Pipelines/Trunklines Diversification: Marine Renewables (Offshore Windfarms) Decommissioning Maintenance Modifications Operations (MMO) Technology and Innovation: Capex Efficiency Technologies (All Electric, SPRINGS, Subsea Separations, Long Tie-Backs) Execution Efficiency Technologies (Plasma Welding, Laser Welding) Opex Efficiency Technologies (Robotics, Hydrone, Emergency Intervention)

KEY PROJECTS KEY ASSETS PIPELINES/TRUNKLINES VESSELS • Egina, Total, • , Nord Stream B.V., • Kizomba, ExxonMobil, Angola Conventional Marine Renewables Subsea Field Field / Heavy Lifts / Russia - • Usan, Total, Nigeria Name of the vessel Development Development Pipelines Decommissioning • , Blue Stream Pipeline • Akpo, Total, Nigeria Company, Russia - • Bonga Northwest, Shell, Nigeria Castorone v • , Medgaz S.A., Algeria - Spain • West Delta Deep Marine Saipem FDS v v • Ichthys LNG Pipeline, , Australia Concession, Burullus, Egypt Saipem FDS 2 v v v • PNG LNG Offshore Pipeline Project, • East Hub, Eni, Angola v v v v ExxonMobil, Papua New Guinea • West Hub Development Project, • Greenstream, Greenstream B.V., Eni, Angola Saipem Constellation v v v v

Libya - Italy MARINE RENEWABLES Normand Maximus v v v CONVENTIONAL FIELD DEVELOPMENT Saipem 3000 v v v • Aflowt, European Marine Energy • Tortue, BP, Mauritania/Senegal Centre, Ireland DeHe v v v v (awarded) • Hornsea Project One, Ørsted, Castoro II v v • Tangguh LNG Expansion Project, (ongoing) Castoro 10 v v BP, Indonesia • Hywind Project, Statoil, North Sea v v • Shah Deniz II, AIOC, Azerbaijan DECOMMISSIONING • Development, Saipem Endeavour v v • Miller, BP, North Sea KCO, FABRICATION CENTRES • Amenam, Total, Nigeria • Frigg, Total, North Sea • Italy, Arbatax (Intermare Sarda) • Angola, Ambriz (Petromar) SUBSEA FIELD DEVELOPMENT SUBSEA TECHNOLOGIES • Indonesia, Karimun (PT Saipem • Congo, Pointe Noire (Boscongo) • Liza field development, ExxonMobil, • Offset Installation Equipment, OSRL Indonesia) • Brazil, Guarujá (Saipem do Brasil) Guyana (ongoing) • Prestige Recovery, , Spain • Nigeria, Rumuolumeni (Saipem • Saudi Arabia, Dammam (Star) • Zohr, Petrobel, Egypt Contracting Nigeria)

20 SAIPEM AT A GLANCE 21 EPDM (Ethylene Propylene [Diene] Monomer) OUR OnSHORE plant, Versalis, . DIVISIONS E&C ENABLING THE WORLD ENERGY TRANSITION

Become the partner of choice for clients committed to a sustainable low-carbon energy transition. LNG & Regas (Large scale Liquefaction plants - small and mid-scale solutions, onshore or floaters, with licensed or propriety Liqueflex process scheme - LNG Import & Regasification Terminals) New Energies (Renewables, CCUS, Hydrogen and Water Technologies) Upstream & Pipelines (Central Production Facilities with associated transportation systems, access to major licensors and major track record for Sulphur Recovery and NGL separation fractionation) Floaters & GBS (FPSO, FLNG, FSRU with compact design, short delivery to market and flexibility in application - Gravity Base Structure solutions) Gas Monetization (Proprietary SnamprogettiTM Urea Technology covering almost 50% of global installed capacity and authorized contractors of Haldor Topsoe) Refining & Petrochemicals (Market leader for hydrocracking, bottom of the barrel conversion, heavy oils treatments and aromatics production - access to all main licensor technologies) Power & Gasification (The most advanced technologies and high- performance equipment for Power Generation and application of global leading gasification technologies) Infrastructures: High speed railway serving the plants

KEY PROJECTS (in j.v. - under execution) • Shah-Habshan-Ruwais Railway, Etihad Gas-to-Liquids Rail Co., UAE Mega Oil Projects Upstream Gas Processing Upstream • Escravos, Chevron, Nigeria • High Speed Railway Brescia-Verona, RFI, Italy • Manifa Central Processing Facilities • Shah Gas Development Program, Abu REFINING AND PETROCHEMICAL • Khursaniyah Processing Facilities Dhabi Gas Development Co., UAE POWER AND GASIFICATION • Khurais Area Facilities Expansion • Menzel Ledjmet East Project (MLE), • Aegean Refinery Project, Star Refineri & Satellite GOSP (under execution) , Algeria A.S., Turkey (under execution) • Okpai 480 MW Combined Cycle Power (All projects for • Hawiyah Gas Plant Expansion • Al-Zour Refinery Project, KNPC, Kuwait Plant, NAOC, Nigeria (under execution) in Saudi Arabia) Project, Saudi Aramco, Saudi (under execution) • Jazan IGCC Complex, Saudi Aramco, Arabia (under execution) • Duqm Refinery Package 3, OOC/KPI, Saudi Arabia (under execution) Onshore Transportation (under execution) LNG FLOATERS • Gladstone, Gladstone LNG • Sriracha Refinery Expansion, Thai Oil, Operations Pty. Ltd., Australia • Arzew GNL 3Z, Sonatrach, Algeria Thailand (under execution) • Jangkrik FPU, Eni E&P, Indonesia • Kaombo FPSO, Total, Angola • Encino Topolobambo Pipeline, • RasGas LNG (trains 1 to 6), Qatar Fertilizers Transportadora de Gas Natural , Qatar • GBS Design and Build, Arctic LNG 2, del Noroeste, Mexico • NLNG Bonny Island (trains 3 to 5), • Qafco-5 Ammonia-Urea Complex, Russia (under execution) • SCPX Pipeline, SCP, Azerbaijan/ Nigeria LNG Ltd., Nigeria Qatar Fertilizer Company, Qatar Georgia • Tangguh Expansion (train 3), BP, • Ammonia-Urea Complex, Dangote, KEY ASSETS • SGO Project, Caitan SpA, Chile Indonesia (under execution) Nigeria (under execution) (under execution) • Nongfab LNG Receiving Terminal, INFRASTRUCTURES FABRICATION CENTRES • Feed Pipeline for New Refinery PTTLNG, Thailand (under execution) Project, Kuwait (under execution) • AMA1 Mozambique LNG, Anadarko, • High Speed Railway Milan-Bologna, RFI, • Kazakhstan, Kuryk (Ersai) Italy • Iraq, Rumaila (Saipem) 22 SAIPEM AT A GLANCE 23 OUR OFFSHORE Saipem 12000, . DIVISIONS DRILLINg RAISING THE STANDARD OF DRILLING OPERATIONS

Operational excellence, unique reliability and ability to adapt, building on a track record of more than 60 years.

A leading international provider of any type of drilling services in all offshore sectors ranging from ultra deep water to shallow water, harsh environment and remote areas A competitive player delivering efficiency and operational excellence : the ramguide has been permanently modified by inserting, at split line, flanged connections that will allow an easy removal for passing the Bosphorus

KEY PROJECTS KEY ASSETS*

Involvement in Major Deep Water DRILLSHIP Discoveries over the past few • : semisubmersible rig. • Perro Negro 8 (high specs) years The only rig operating continuously • Saipem 12000 (ultra deep water) • Perro Negro 7 (high specs) through the 2012-2017 winter • Saipem 10000 (ultra deep water) • Pioneer (high specs) • Zohr, Eni, Egypt (2014) seasons in the - • Sea Lion 7 (high specs) SEMISUBMERSIBLE UNIT • Area 4, Eni, Mozambique (2013) Norwegian sector • Perro Negro 5 (standard) Milestones in the industry • Perro Negro 4: standard jack-up. • Scarabeo 9 (ultra deep water) • Perro Negro 4 (standard) The unit has achieved over 1,000 • Scarabeo 8 (harsh environment) • Perro Negro 2 (standard) • Saipem 10000: first example moves in 36 years in Egypt • Scarabeo 7 (deep water) TENDER ASSISTED of new generation • Scarabeo 5 (deep water) • Saipem 12000: ultra deep water • Saipem TAD (project specific) drillship equipped with two BOP JACK-UP • Perro Negro 9 (high specs)

24 SAIPEM AT A GLANCE *At 31st December 2019 25 Rig 5870 - HPHT operations in Romania. OUR OnSHORE LEADING TOWARDS THE SAFEST DIVISIONS DRILLINg AND MOST RELIABLE PERFORMANCE

More than 60 years as drilling specialist in the most challenging environments, in any geographical context.

Services for the drilling of Oil&Gas exploration, appraisal and production wells as well as geothermal projects More than 80 drilling and owned and managed workover rigs Long presence in the Middle East, Latin America and CIS Mostly for deep, ultra deep and deviated wells Development of a new rig with walking system for unconventional fields (Striker 800)

KEY PROJECTS KEY ASSETS

SAUDI ARABIA ECUADOR 83 RIGS HP; Max. Hook Capacity 500,000 lbs; HEAVY RIGS • Oil&Gas fields - Medium rigs • Conventional wells - Medium rigs • Nominal Drilling Capacity 4,000 m Tot. 13; Power Output 3,000 KUWAIT COLOMBIA MEDIUM HYDRAULIC RIGS HP; Max. Hook Capacity 2 M lbs; • • Ultra deep wells - Heavy rigs • HP/HT deep wells - Heavy rigs Nominal Drilling Capacity 8,500 m Tot. 5; Power Output 1,500 HP; Max. Hook Capacity 182 t; Nominal PERU ROMANIA MEDIUM RIGS • Drilling Capacity 3,000 m • Conventional wells work-over - • HP/HT ultra deep wells - Heavy rigs Tot. 49; Power Output < 2,000 HP; LIGHT HYDRAULIC RIGS Medium and light rigs Max. Hook Capacity 900,000 - 1.1 M • KAZAKHSTAN lbs; Nominal Drilling Capacity 6,000 m Tot. 2; Power Output 1,200 - 750 ARGENTINA • Drilling in harsh environment HP; Max. Hook Capacity 182 t; LIGHT RIGS • Unconventional fields - Medium rigs (from +40° to -40°) • Nominal Drilling Capacity 2,000 m Conventional wells - Medium rigs Tot. 14; Power Output 1,200 - 400 BOLIVIA • HP/HT ultra deep wells - Heavy rigs 26 SAIPEM AT A GLANCE 27 WORLDWIDE PERMANENT PRESENCE

ENGINEERING CENTRES dedicated to research & development, business process management and information technology YARDS focused on prefabrication, assembling and erection operations of large and complex manufacts as offshore platforms, plant modules, subsea manifolds and components OTHER MAIN SITES headquarters, branches and subsidiaries

28 SAIPEM AT A GLANCE 29 MILESTONES more than 60 years of history

New operational frontiers Saipem goes public Leader in the offshore A powerful Accountability The brand identity XSIGHT heavy lifting sector global contractor and transparency towards evolves Saipem introduces the Oil crisis in the Middle East Saipem is listed on the Milan our Stakeholders drives Saipem to explore and Paris stock exchanges. Saipem takes over the With the acquisition Eni reduces its stake in XSIGHT division for early new geographical areas Micoperi fleet including of Offshore, Saipem publishes its first Saipem which changes engagement services to starting from the North Sea. the Micoperi 7000, soon Saipem boosts its Sustainability Report, making its image and adopts a capture the client’s needs after renamed Saipem 7000. outstanding EPCI capabilities. public the Company’s new logo. and to provide innovative commitment for a sustainable solutions drawing on its vast business. EPC(I) project experience. 1957 1974 1987 1998 2003 2006 2016 1971 1984 1990 2002 2015 2017

A pioneer is born A milestone in offshore The joint-venture strategy Main player Start of the A global leader A major step activities in deep offshore engagement in engineering, towards a sustainable Saipem starts joint-ventures Saipem is established as pipelaying in the sustainability construction and oilfield business with competitors like Brown an independent company. Saipem lays the gasline business services & Root, Clough, Bouygues With the installation Saipem joins the UN Global across the Straits of Messina Saipem confirms its Saipem gains access Offshore and Parker Drilling of the J-lay tower the Saipem Compact. as part of the Transmed openness to new to new markets, including aiming to penetrate new 7000 opens its doors project. challenges. onshore downstream markets and strengthen to challenging deepwater and gas liquefaction by the its assets. projects such as the Blue Stream gasline. acquisition of Snamprogetti.

RECORDS AN IMPRESSIVE TRACK RECORD OVER MORE THAN 60 YEARS 50+ 76+ ≥7,5 0 0 ≥2,000 ≥80,000 75,000 1,000 FERTILIZER MTPA of LNG ONSHORE OffSHORE KM OF OFFSHORE km OF PIPELINES KM OF RAILWAYS PLANTS BUILT LIQUEFACTION WELLS WELLS PIPELINES DESIGNED INSTALLED BUILT CAPACITY INSTALLED DRILLED DRILLED AND BUILT SAIPEM SpA Via Martiri di Cefalonia, 67 20097 San Donato Milanese Milan - Italy SAIPEM.COM

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32 SAIPEM AT A GLANCE