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2023-10-19 Biorg_CS_870.jpg Thanks to a 28 million euro investment, the NewCo Biorg, born out of a partnership between Herambiente and Inalca, has created an outstanding example of the circular economy, converting an old biodigester into a state-of-the-art plant transforming organic and food processing waste into 100% renewable methane and compost. The 3.7 mcm of green gas and 18 thousand tonnes of compost produced per year represent a significant contribution to the green energy transition The inauguration of the innovative biomethane production plant built by NewCo Biorg took place today in Spilamberto, in the province of Modena. This company is the result of a partnership between Herambiente (Hera Group), one of Italy’s largest multi-utilities and the foremost operator nationwide in the waste management sector, and the company Inalca (Cremonini Group), an Italian leader in meat production and food distribution. Thanks to an overall investment coming to approximately 28 million euro and the use of the best technologies currently available for treating sorted organic and food processing waste, when fully operational the plant produces 3.7 million cubic metres of biomethane, a 100% renewable fuel for automotive use, and roughly 18 thousand tonnes of compost every year. The ribbon-cutting ceremony was attended by the vice-president of the Emilia-Romagna Region with a mandate for the Environment, Irene Priolo, the Mayor of Spilamberto, Umberto Costantini, the Chairman and CEO of Biorg, Giovanni Sorlini and Paolo Cecchin, respectively, the CEO of the Hera Group, Orazio Iacono, and the CEO of Inalca, Paolo Boni. A state-of-the-art plant for the energy transition and the circular economy 100% renewable natural gas is produced at the Biorg plant in Spilamberto from both the anaerobic digestion of organic waste, coming from the sorted waste collection carried out mainly in Modena and the surrounding area, and waste from the processing carried out by the local agricultural industry and Inalca’s meat production process. Once refined, it becomes biomethane and can be injected into the gas network. Organic waste thus returns to the service of the community in the form of renewable fuel that, when injected into the network, fuels public and private city transport, thus helping a sector increasingly exposed to the issue of carbon dioxide emissions. The plant’s annual production, coming to 3.7 mcm of biomethane, is enough for a methane-powered car to travel 52 million km. The plant is therefore an excellent example of the circular economy, because it allows not only energy to be recovered, but materials as well. The waste coming out of the anaerobic digestion process, technically referred to as solid digestate, instead of being disposed of, is in fact recovered after being transported to the Biorg composting plant in Nonantola (Modena province), to produce compost that can be used as a biofertilizer in agriculture. This project is also an effective example of industrial synergy, with biomethane production and composting taking place in two perfectly complementary and integrated plants. Furthermore, it demonstrates that only innovation can generate competitive sustainability, not only reducing the environmental impact but at the same time creating added value for the entire livestock supply chain. Significant environmental benefits: approximately 7,000 tonnes of CO2 avoided every year Thanks to the biomethane injected into the grid and its use by motor vehicles, significant environmental benefits are also expected. Each year, approximately 3 thousand tonnes of oil equivalent (TOE) of fossil fuel will be saved, and approximately 7 thousand tonnes of CO2 emissions will be avoided. To absorb this amount of CO2, an average of 280 thousand trees would be needed. Moreover, constructing the Spilamberto plant did not involve any usage or consumption of new soil, since it is the result of the conversion of an old biodigester owned by the Municipality of Spilamberto and managed by Herambiente, thus making the most of a previously existing site. This amounts to zero square kilometres, but also “kilometre zero”, because the on-site production of compost creates added value for the entire livestock chain. Fertiliser deriving from recycled biodegradable waste and recovered food industry by-products, from the point of view of its production process and quality, guarantees equivalent or superior characteristics compared to fertiliser produced through other industrial processes, even when used in a pure form, and makes it possible to reduce dependence on foreign suppliers. Hera Group: a commitment to decarbonisation In order to formulate a concrete response and reduce climate-changing emissions, thus moving towards carbon neutrality, the Hera Group has included various development measures in its business plan to make an important contribution to the green transition and achieve its decarbonisation objectives. More specifically, the Group has reserved a key role for this sort of renewable fuel, and was in fact the first in Italy to build a state-of-the-art plant in Sant’Agata Bolognese, in 2018, for the production of biomethane from the organic portion of sorted waste collection. Approximately 20 thousand tonnes of compost and around 8 million cubic metres of biomethane are obtained annually, with a yearly saving coming to over 6 thousand tonnes of oil and a reduction in CO2 emissions amounting to roughly 14,600 tonnes. When fully operational, the capacity of the Spilamberto plant will result in a 48% increase in the amount of biomethane produced by the Group compared to the final figure for 2022 (7.7 million cubic metres produced in Sant’Agata Bolognese alone). At Group level, the goal is to increase biomethane production to 30 mcm per year by 2030. Inalca (Cremonini Group): integration and circular economy for sustainable business development Inalca has always adopted a pragmatic approach to sustainability issues, considering them as a strategic business asset and part of the company’s economic value, and has been able to create a fully integrated beef chain that includes breeding, processing and distribution. Its business model aims to fully exploit this supply chain on the basis of circular economy principles. The new biomethane production plant represents a further step in this direction and is an example of the company’s full local integration, in addition to achieving a complete valorisation of the by-products deriving from meat production activities. Through its partnership with the Hera Group, Inalca will also be able to rely on a further portion of organic fertilisers to improve the fertility of farmland and support the increasingly widespread adoption of regenerative farming techniques. Inalca, with the aim of decarbonising its activities, has for some time been self-producing approximately 90% of the energy it uses, about a quarter of which comes from renewable sources. This is possible thanks to 2 biomass cogeneration plants, 6 methane cogeneration plants, 2 biogas plants fuelled by industrial waste coming from its factories, 4 biogas plants from agricultural waste, over 22,120 photovoltaic panels installed on 13 factories, 1 biomethane plant and 1 composting plant. "In the 1990s the Municipality of Spilamberto started a plant that was necessary to dispose of sewage produced by intensive livestock farms which previously was spread across the land causing the poisoning of groundwater," - intervenes the Mayor of Spilamberto, Umberto Costantini. "Unfortunately, the plant never worked as imagined and this failure would therefore lead to a considerable waste of public money. However, thanks to Hera and the Cremonini Group, we have moved from a failure to a success story. Today Spilamberto is the best municipality in the province under Hera management in terms of quantity, quality and percentage of separate waste collection. The great effort in increasing separate waste collection made in recent years in Spilamberto and in many municipalities that have followed our example has led to a significant increase in the organic fraction of waste and the consequent need to treat it more virtuously than in the past. We are succeeding. The next challenges will be to focus on minimizing the odour impact resulting from these treatments for the benefit of those who live around it, but I am sure that Biorg will be as cooperative as it has been up to now in taking care of our plant and its surroundings. It's not enough to talk about circular economy, it has to be done, and here in Spilamberto I am happy to say that we are doing it." “The inauguration of the Spilamberto plant, born out of this partnership between Herambiente and Inalca, is a concrete example of the circular economy and environmental sustainability”, remarks the Vice-President of the Emilia-Romagna Region, Irene Priolo. “Biomethane provides an important opportunity to reduce the use of fossil fuels and alleviate the energy footprint of our region. The ecological conversion,” she continues, “requires a new model for development centred around a recognition of the enormous value of raw materials, which must be saved, and the importance of recovering waste and putting it at the core of new production processes. This is a fundamental turning point in establishing increasingly strong and effective actions to mitigate and adapt to climate change”. “This new plant intended for biomethane production, with an outstanding partner such as Inalca, represents a significant achievement for the circular economy and an additional step forward for us in producing biomethane on an industrial scale”, states Hera Group CEO Orazio Iacono. “The challenges of the future require utilities like ourselves to make an increasingly decisive commitment, which we intend to translate into concrete projects through investments that allow us to accompany citizens, businesses and public administrations along the green transition and, in this case, the environmental transition, with an increasingly well-distributed and inclusive model for the development of the social and industrial fabric. We must move forward without hesitation by transparently addressing the challenges posed by climate change and energy security, which are the crucial issues underlying our multi-business strategies. That is why we have also included in our business plana range of solutions for promoting renewable energy sources, energy efficiency, circular economy and infrastructure innovation.” “The construction of this plant, in partnership with a company such as Hera, equipped with significant know-how and advanced technology, represents an important step towards consolidating and strengthening Inalca’s integrated and sustainable production model”, explains Paolo Boni, the company’s CEO. “This new plant, in fact, makes it possible to fully valorise processing waste deriving from our production activities and is an additional step forward in the circular economy process. Furthermore, an effective industrial synergy being created with the production of biomethane and composting in two plants that perfectly complement each other, demonstrating that by efficiently combining innovation and integration processes, we can increase our level of sustainability and reduce environmental impacts, while at the same time ensuring greater value for the livestock business. Lastly, this model for partnership is consistent with Inalca’s investment strategy, aimed at building additional biomethane and photovoltaic plants on its farms, increasing its production of renewable energy and its commitment to combating climate change”. 20231019_Inauguration of Biorg production plant.pdf 14:05:00 Biorg_CS_110.jpg See the press release Biorg_CS_110.jpg

2023-10-03 (drafted pursuant to article 85-bis, paragraph 4-bis, of Consob Regulation 11971 / 14 May 1999) Bologna, 3 October 2023 - The following table contains the data concerning the shares outstanding and the number of voting rights representing the share capital as at 30 September 2023. Updated situation Previous situation Number of shares constituting the Share capital Number of voting rights Number of shares constituting the Share capital Number of voting rights Total of which: 1,489,538,745 2,229,225,313 1,489,538,745 2,229,220,858 Ordinary of shares (regular dividend rights: 01.01.2023) - cod. ISIN IT0001250932 Current coupon: n. 22 749,852,117 749,852,177 749,856,632 749,856,632 Ordinary of shares (regular dividend rights: 01.01.2023) - cod. ISIN IT0005159972 Current coupon: n. 22 739,686.568 1,479,373,136 739,682,113 1,479,364,226 10_2023_Communication overall amount of voting rights art 85-bis.pdf 12:10:00 Nuova_Palazzina_110x150.1533218221.jpg See the press release Nuova_Palazzina_1_110x150_s1.jpg

2023-09-27 Hera S.p.A. hereby announces that, following the resignation, effective from 19 June 2023, of the director Lorenzo Minganti, the Company’s Board of Directors, which met today, has appointed Enrico Di Stasi by co-optation. Mr. Enrico Di Stasi, who was co-opted pursuant to Article 2386 of the Italian Civil Code, as well as Article 17.10 of the Company’s Articles of Association, following his appointment, qualifies as a non-executive and independent director and, pursuant to the information available, holds no shares in the Company. Finally, note that Mr. Enrico Di Stasi has also been appointed as a member of the Company’s Control and Risk Committee. Enrico Di Stasi’s full curriculum vitae may be consulted on the Company's website, at https://eng.gruppohera.it/group_eng (section: Governance/ Board of Directors). 20230927 Appointment by co-optation of new BoD member.pdf 12:44:00 Nuova_Palazzina_110x150.1533218221.jpg See the press release Nuova_Palazzina_110x150.1533218221.jpg

2023-09-27 The merger deed was signed today and follows the acquisition, last March, of 92% of Asco TLC by the Hera Group subsidiary and Ascopiave. The transaction will strengthen Acantho’s position in the IT-TLC sector, making it a multi-regional operator The Chairman of Asco TLC, Alessandro Aiello, and the Chairman of Acantho, Roberto Vancini, signed the deed of merger by incorporation of Asco TLC into Acantho this morning in Bologna. As of 1 October 2023, the latter company will take over the management of telephone and data centre services involving an infrastructure with 326,600 km of fibre optics owned, 4 data centres available (Imola, Siziano, Santa Lucia di Piave and San Vendemiano), and approximately 9,000 customers. This merger follows up on the acquisition of 92% of Asco TLC by Acantho, a subsidiary of the Hera Group, and Ascopiave, finalised on 14 March 2023 and a result of the public tender procedure called by Asco Holding. Following the transaction, the Acantho shareholding will have the following breakdown: Hera S.p.A. 70.16%, Con.AMI 16.84%, Ascopiave 11.35% Province of Treviso 1.65%. This transaction not only represents for the Hera Group and the Ascopiave Group a strategic step in the evolution of their ICT business portfolio, in line with their respective business plans, it will also enable the new Acantho to create significant operational and commercial synergies and to provide customers with increasingly broader, more efficient, innovative and competitive solutions in terms of both costs and sustainability. Asco TLC and Acantho, indeed, are companies that share many common features, not only from an industrial perspective, but also in terms of their path of development and the type of ICT services offered to their customers. The aim of incorporating Asco TLC's infrastructure assets and advanced expertise into Acantho is to expand the range of services offered in the IT and telecommunications sector. This will lead to growth in business activities, especially in the high-density industrial sector, where the company already operates through other business lines. More specifically, the merger will help improve supply relationships with citizens and companies in the geographical areas served, enabling Acantho to offer commercial proposals that use the most advanced current technology. These proposals will be integrated and made flexible, to meet the different needs of customers and stakeholders, including high-performance and reliable connectivity, telephone and data centre services. “We are excited to announce the completion of the merger by incorporation of Asco TLC into Acantho, which marks a significant step in our strategic growth and development. This merger allows us to combine our resources, skills and talents to offer even more innovative solutions to our customers and create added value for our shareholders. We are confident that this union will position us strongly and competitively in the markets in which we operate, and we are enthusiastic about working together and facing new challenges so as to build a successful future,” stated Alessandro Aiello, General Manager of Acantho. “The transaction we have concluded today will make it possible to achieve, in the most effective way possible, the potential industrial synergies arising from the integration of the companies involved, within an increasingly competitive market that requires continuous improvement in commercial proposals for regional authorities, companies and local users”, stated Nicola Cecconato, Chairman, CEO and General Manager of the Ascopiave Group. 20230927 MERGER OF ASCO TLC INTO ACANTHO.pdf 12:25:00 ASCO TLC - ACANTHO 110.png See the press release ASCO TLC - ACANTHO 110.png

2023-08-02 Bologna, 2 August 2023 – The following table contains the data concerning the shares outstanding and the number of voting rights representing the share capital as at 31 July 2023. Updated situation Previous situation Number of shares constituting the Share capital Number of voting rights Number of shares constituting the Share capital Number of voting rights Total, of which: 1,489,538,745 2,229,220,858 1,489,538,745 2,229,286,858 Ordinary shares (regular dividend rights: 01.01.2023) – cod. ISIN IT0001250932 Current coupon: n. 22 749,856,632 749,856,632 749,790,632 749,790,632 Ordinary shares with increased voting rights (regular dividend rights: 01.01.2023) – cod. ISIN IT0005159972 Current coupon: n. 22 739,682,113 1,479,364,226 739,748,113 1,479,496,226 08_2023_Communication overall amount of voting rights art 85 bis.pdf 14:31:00 Nuova_Palazzina_110x150.1533218221.jpg See the press release Nuova_Palazzina_110x150.1533218221.jpg

2023-07-27 The merger leads to the strengthening of Acantho's position in the IT-TLC sector: thanks to Asco TLC's cutting-edge skills and infrastructure, the digital company expands its assets and services, becoming a multi-regional operator able to provide its customers with more innovative, efficient, reliable and competitive solutions, both in terms of cost and sustainability. The Hera Group and the Ascopiave Group have today approved the merger of Asco TLC into Acantho at the extraordinary shareholders' meetings of the subsidiaries held today. The expected contribution to the growth of Acantho's EBITDA, and thus to the Hera Group's consolidated EBITDA as parent company, is at least EUR 4 million, to which the resulting synergies will be added. The merger follows the acquisition of 92% of Asco TLC finalised by Acantho and Ascopiave on 14 March 2023 and the previous awarding of the public tender procedure called by Asco Holding. Asco TLC, a company active since 2001 in the provision of ICT services mainly to corporate customers and public administrations, has a significant proprietary territorial network, located in the Veneto and Friuli-Venezia Giulia regions for more than 2,200 km of fibre optic backbones, 56 radio links and 24 xDSL exchanges in unbundling, and provides its services to more than 2,700 customers. Acantho, the digital company controlled by the Hera Group, with over 7,000 customers, started over two decades ago, the development of a proprietary ultra-wideband fibre optic network, stretching over 238.000 km, and provides, also to the parent company and other companies, data centre, telephony and connectivity services, in particular with solutions in primary and secondary data centre management, networks connecting offices, internet access, fixed and mobile telephony, Internet of Things (IoT) applications for distribution network and meter management, radio infrastructure for meter and network node remote reading, network remote control platforms and digital transformation. There has always been a constant focus on sustainability by Acantho, which self-produces 30% of its data centre's energy needs, with a 20% reduction in CO2 emissions into the atmosphere. The merger by incorporation of Asco TLC into Acantho represents for the Hera Group and the Ascopiave Group a strategic step in the evolution of the business portfolio in the IT-TLC sectors, in line with their respective industrial plans. Moreover, it will allow the birth of a multi-regional player with significant operational and commercial synergies and important benefits also for customers, who will receive a dedicated communication as soon as the effective date of the merger will be defined, approximately in autumn 2023. The expected industrial benefits of the merger Thanks to the integration of Asco TLC's infrastructural assets and cutting-edge skills into Acantho, the Hera Group expects to expand its range of services in the information technology and telecommunications sector, with consequent commercial development, particularly in its reference territory, with a high industrial density, where it already operates with other businesses. The transaction is part of the multi-utility's development path, which aims to provide its customers with increasingly broader, more efficient, innovative and competitive solutions in terms of both costs and sustainability. In particular, the merger will bring added value to supply relations with the citizens and companies of the territories served, enabling the Hera Group to offer business proposals at the technological frontier, integrated and flexible to the various needs of customers and stakeholders, including connectivity, telephony and data centre services of high performance and reliability, also guaranteed by high seismic-resistance structures, and state-of-the-art anti-flooding, fire-fighting and alarm systems. "The incorporation of Asco TLC into Acantho, and therefore within the Hera Group, gives us the opportunity to make the most of the potential and specialist excellence of the two companies. In addition, the operational integration of the IT-TLC business activities of our multi-utility and Ascopiave will lead us to consolidate the proposal of Information and Communications Technology (ICT) services on the territory, with an increasingly tailor-made and flexible offer for customers, including the same companies controlled by the two groups. The sharing of assets, skills and solutions will also enable us to be able to respond more effectively and efficiently to the main trends in the ICT market, which is moving towards a greater demand for advanced products and integrated security services, both at network and systems level," said Alessandro Aiello, General Manager of Acantho. "The transaction we have concluded today will make it possible to harness, in the most effective way, the potential industrial synergies arising from the integration of the companies involved, in an increasingly competitive market context that requires a continuous improvement of commercial proposals for local authorities, companies and users," said Nicola Cecconato, Chairman, CEO and General Manager of the Ascopiave Group. 20230727_Merger ASCO TLC into Acantho.pdf 17:30:00 Nuova_Palazzina_110x150.1533218221.jpg See the press release Nuova_Palazzina_110x150.1533218221.jpg

2023-07-26 The consolidated half-year report at 30 June shows growth in all main operating-financial indicators, confirming Hera’s financial solidity and once again demonstrating the effectiveness of the choices made by management. The Group continues to pursue the goals set out in its Business Plan, combining corporate growth and sustainable development, with value created for all stakeholders, first and foremost the local communities served. Financial highlights Ebitda* at 718.3 million euro (+13.8%) Net profit attributable to shareholders* at 187.7 million euro (+2.4%) Overall investments rise to 403.4 million euro (+22.4%) Net debt at 4,145.7 million euro, down by 104.1 million euro compared to the 31/12/22 figure, with net debt/Ebitda* ratio at 3x Business highlights Significant contribution to growth from the energy sectors, the waste management area and the water business Ongoing growth in the energy customer base, which rose to over 3.7 million, up 7.9% in 12 months Further development of initiatives for the energy transition and the circular economy, thanks to state-of-the-art plants and increasingly green services Today, the Board of Directors of the Hera Group, chaired by Cristian Fabbri, unanimously approved the consolidated results for the first half of 2023. The first half of the year ended with operating results and investments up compared to the previous year, although in the first months of 2023 some of the served areas were affected by extreme weather phenomena and the uncertain global context continues to generate volatility in commodity prices, a generalised rise in inflation and an increase in the interest rates. The consolidated half-year report at 30 June, indeed, shows positive operating and financial performances, demonstrating once again the Group’s financial solidity and strength of its business model, balanced between internal and external growth and between regulated and free market activities. In addition to creating value for all stakeholders, the increase in operating investments compared to the first half of 2022 provides evidence of Hera’s ongoing focus on improving and strengthening the resilience of the assets it manages, with positive impacts on the quality and continuity of services in the areas in which it operates. Cristian Fabbri, Executive Chairman of the Hera Group: “The first half of 2023 closed with substantial growth in results, with Ebitda reaching 718.3 million euro, up 13.8%, mainly due to the overall contribution coming from the energy area, which also saw an increase in services for decarbonisation, while growth in the waste management area confirms our commitment to the circular economy. The results for this half-year see us moving rapidly towards achieving the goals set out in our Business Plan and are the fruit of our consolidated multi-business strategy, which has always been geared towards combining corporate growth with the sustainable development of the local ecosystem. This is additionally confirmed by the 22% rise in investments, both for developing the Group’s industrial assets and for M&As that focus on growth towards the ecological transition, innovation and resilience. Our business model is capable of continuously innovating while maintaining strong local roots, and has allowed us to once again respect the commitments made to our shareholders, to whom a dividend up by 4.2% was paid last month, consistent with what was announced during the presentation of the Business Plan to 2026.” Orazio Iacono, CEO of the Hera Group: “The consolidated half-year financial report at 30 June shows significant growth in Ebitda, with a contribution coming from all business areas, in particular the energy sector with 239 million euro (+30%) and the waste management area with 162.9 million euro (+8%), and increased investments and M&A transactions, amounting to over 400 million euro. All of this was made possible by a significant cash generation and a solid financial position. The financial structure was further reinforced during the first half of the year by sustainable sources of financing on favourable terms, including the issue of a sustainability-linked bond, a new revolving credit line and a recent EIB loan. These initiatives allowed us to maintain our net debt/Ebitda ratio at roughly 3x, in line with the previous half-year and the targets defined.” Revenues at 8.3 billion In the first half of 2023, revenues amounted to 8,297.5 million euro, as against 8,896.0 million euro at 30 June 2022, mainly due to the drop in energy commodity prices and lower volumes of gas sold, as a result of the mild weather in the first half of the year. Revenues related to the higher volumes of electricity sold, instead, were up, thanks to commercial development actions, Consip tenders and the lots awarded in the protected and gradual protection services, as well as higher revenues from energy services, in which opportunities related to energy efficiency incentives in residential buildings and increased activities in value-added services for customers remained. A positive contribution also came from revenues in the waste management sector, due to increased treatment activities and acquisitions in the industry market. Ebitda* rises to 718.3 million euro Ebitda* for the first half of 2023 rose to 718.3 million euro (+13.8%), compared to 631.2 million euro at 30 June 2022. This increase is mainly due to the overall contribution coming from the energy areas, amounting to 68.1 million euro, and the positive performance of the waste management area, up by 12.2 million euro. Also note the resilience shown by Ebitda for regulated network services, with particular reference to gas distribution and the integrated water cycle, thanks to the increase in recognised revenues and operating efficiencies that offset the higher costs related to inflation. Net operating result* grows The net operating result* at 30 June 2023 rose to 374.7 million euro, up 11.9% compared to the 334.9 million euro seen one year earlier. This performance remained positive even after higher depreciation and amortisation, due to the significant increase in investments, and conservative provisions for bad debts, due to the increased turnover in last resort markets. Financial charges increased, mainly due to the medium- and long-term credit lines stipulated in 2022 and the significant change in the interest rate scenario, which saw a significant increase in the cost of money. Net profit attributable to shareholders* up to 187.7 million euro Net profit* rose to 208.0 million euro (+3.1%), compared to 201.7 million euro in the first half of 2022, with a tax rate coming to 26.8%. Net profit attributable to Group shareholders* totalled 187.7 million euro, up (+2.4%) from 183.3 million euro at 30 June 2022. Strong growth in operating investments and Group solidity reinforced In the first half of 2023, the Hera Group made investments and corporate acquisitions totalling 403.4 million euro (+22.4% compared to the same period in 2022). Operating investments, including capital grants, amounted to 318.4 million euro, up by 31.3 million euro compared to the previous year (+10.9%), and were mainly related to the development of plants, networks and infrastructures. In addition, regulatory upgrading mainly concerned gas distribution, with a large-scale meter replacement, and the purification and sewerage area. The total amount of net financial debt came to 4,145.7 million euro, down 104.1 million euro compared to the figure seen at 31 December 2022, even after the payment of dividends. As proof of the Group’s financial solidity, the net debt/Ebitda* ratio stands at 3x, in line with its long-standing prudential policy. The Group’s financial structure has now been further reinforced and optimised, partly as a result of the liability management operations completed in the first half of the year, to enable Hera to handle any potencial new tensions in the energy markets and guarantee continuity in operations and a significant amount of investments. Gas Ebitda* for the gas area, which includes natural gas distribution and sales, district heating and energy services, amounted to 293.1 million euro in the first half of 2023, compared to 299.3 million euro at 30 June 2022. The factors responsible for this result mainly lie in the particularly mild winter and consumption habits that became more attentive to energy saving. This decrease was partly offset by a rise in volumes sold on the last resort market. The contribution coming from energy services, aimed at reducing customers’ consumption, in particular from activities supported by energy efficiency incentives such as the 110% super-bonus, still showed growth. In the first half of 2023, investments made in the gas area amounted to 89.3 million euro, up by 23.9 million euro compared to the previous year. In particular, higher investments were made in gas distribution for plants and networks in the new municipalities awarded with the ATEM Udine2 tender, while in gas sales they were aimed at acquiring new customers. In district heating and energy services, investments (mainly for new plants and network extensions) also increased overall. The number of gas customers reached almost 2.1 million, with a slight increase (0.5%) compared to the previous year. The gas area accounted for 40.8% of Group Ebitda. Electricity Ebitda for the electricity area, which includes electricity generation, distribution and sales, rose to 114.4 million euro, as against 40.1 million euro in the same period of 2022, showing significant growth (+185.3%) both in terms of margins and volumes sold to end customers, mainly due to commercial development in the free market. In addition to this, Group subsidiary Hera Comm was awarded, through tenders, 10 lots nationwide: 4 in the Consip EE20 tender for supplying public administrations in 2023, 3 in the gradual protection service to SMEs for the period from 1 July 2021 to 30 June 2024 in nine regions of Italy, 2 in the safeguarded service for the two-year period 2023-2024 in four regions of Italy, and 1 in the gradual protection service to micro-businesses for the period from 1 April 2023 to 31 March 2027. Margins for services aimed at promoting the decarbonisation of customers’ consumption, involving installations of photovoltaic systems, electric mobility and air conditioning systems, also continued to increase. The acquisition of 60% of the company F.lli Franchini, finalised in late June, was aimed at further increasing decarbonisation services for the industrial customer segment, as was the start-up of a partnership with the Orogel Group for developing an agro-voltaic plant serving the Cesena production plant. In the first half of 2023, investments made in the electricity area amounted to 48.3 million euro, up by 16.3 million euro compared to the previous year. As regards distribution, investments mainly concerned non-recurring maintenance and upgrading on plants and networks in the Modena, Imola, Trieste and Gorizia areas. The large-scale meter replacement continued, as did works to improve the resilience of the infrastructure. In the sales area, investments in activities related to acquiring new customers increased. The customer base indeed recorded significant growth compared to the same period of 2022, reaching over 1.6 million (+16.7%). The electricity area accounted for 15.9% of Group Ebitda. Water cycle Ebitda for the integrated water cycle area, which includes aqueduct, purification and sewerage services, stood at 128.6 million euro at 30 June 2023, slightly up (+2.6%) from the 125.3 million euro seen in the first half of 2022. In the first half of 2023, net investments in the water cycle area amounted to 81.2 million euro (58.8 million in the aqueduct, 23.7 million in sewerage and 10.5 million in purification), which went towards extensions, reclamations and upgrading on networks and plants, as well as for regulatory activities, mainly in the purification and sewerage areas. The main interventions include, in the aqueduct area, ongoing reclamation activities on networks and connections related to Arera’s Resolution 917/2017 on the regulation of the technical quality of the service, with specific modernisation and upgrading interventions intended to counter the risks of water shortages caused by increasingly frequent droughts. The integrated water cycle area accounted for 17.9% of Group Ebitda. Waste In the first half of 2023, Ebitda for the waste management area increased to 162.9 million euro (+8.1%), up from the 150.7 million euro recorded at 30 June 2022. Ebitda for waste treatment services amounted to 134.6 million, while Ebitda for environmental services including collection and sweeping amounted to 28.2 million euro, mainly due to the beginning of new concessions. In particular, margins coming from energy management increased, due to both a greater contribution from the Modena and Trieste waste-to-energy plants and the hedges made on energy sales, and a positive performance shown by commercial activities. The consolidation of existing commercial relationships, and the development of the customer portfolio, also benefited from the M&A transactions concluded in the last 12 months. Note in particular the recent expansion of the scope of operations in the environmental remediation and industrial waste global service sectors, thanks to a partnership with the Modena company A.C.R. di Reggiani Albertino S.p.A.®. In a context characterised by decreasing inflation, declining industrial production and increased competitive pressure in the markets served, the Group proved able to consolidate its leadership, especially in the industrial market and in reclamation, and achieve a significant amount of growth in this sector. All of this is thanks to Hera’s valid management policies and its set of plants, which continues to constitute a distinctive strategic asset, also considering that it works towards the ecological transition of the communities served. The protection of environmental resources was a priority objective in the first half of 2023 as well, as was the maximisation of their reuse. This is proven by the special attention dedicated to increasing sorted waste collection, which in the first half of 2023 rose to 70.4%, up 4% compared to June 2022. Investments made in the waste management area amounted to 48.5 million euro and were mainly related to maintenance and upgrading of waste treatment and storage plants, optimising collection centres and equipment, as well as investments for the transaction with ACR. The waste management area accounted for 22.7% of Group Ebitda. Press release H1 2023.pdf 13:13:00 Nuova_Palazzina_110x150.1533218221.jpg See the press release Nuova_Palazzina_110x150.1533218221.jpg

Analyst presentation H1 2023.pdf

Economic data H1 2023.xls

Press release H1 2023.pdf