Saipem's Shareholders

At 31 December 2009, the share capital of Saipem S.p.A. amounted to 441,410,900 euros; it is fully paid up and comprises no. 441,265,604 ordinary shares of the nominal value of 1 euro each and no. 145,296 savings shares of the nominal value of 1 euro each. Shares cannot be divided and each share bears the right to one vote. Saipem’s shareholders enjoy, and are limited by, all relevant rights afforded by law. Savings shares are convertible at par with ordinary shares; they enjoy a higher dividend than ordinary shares equal to 3% or the share nominal value.

Based on information available and received and pursuant to 11971/99, at 4 June 2010 the Shareholders owning a excess of 2% are: