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We have been confirmed as one of the companies most committed to promoting diversity, inclusion and people development. This has been certified once again by Refinitiv’s “Diversity & Inclusion Index”, whose 2022 edition examined over 12,000 companies worldwide and assigned to us a score that places us in the TOP10 of the international ranking, now first among multi-utilities and the top Italian company. This index is one of the main references for investors, who are taking an increasingly positive look at companies that adopt a Diversity & Inclusion (D&I) policy. After more than 10 years of projects, activities and initiatives aimed at reducing inequality, enhancing diversity and promoting an inclusive culture, this recognition provides further confirmation of the attention that we pay to policies in this area. This approach is confirmed by the Charter for Equal Opportunities and Equality at Work, signed as early as 2009 and matured internally, with the support of the working group led by the Diversity Manager, and later promoted outside the company context as well, to foster increasingly inclusive cities. This is also demonstrated by our personnel policies: our corporate welfare plan, for example, provides important support for Group employees and their families, with 5.3 million in services used last year alone. Hera also invests in developing internal and customised career paths, with 34% of women in positions of responsibility and, more generally, a female workforce coming to 27.3%, above the national industry average (2021 figures). For further information Press release Refinitiv Global D&I Index D&I in Hera Group refinitiv_870.png In the international ranking of Refinitiv’s 2022 “Diversity & Inclusion Index”, we are included in the TOP10 globally, becoming the world’s leading multi-utility and the top company in Italy for its commitment to diversity and people inclusion and development policies Refinitiv_2022 D&I_Logo_110.png

We presented our innovative “power to gas” plant named SynBioS (Syngas Biological Storage) at the Gastech exhibition in Milan. This plant will be able to convert renewable electricity and wastewater into “green” hydrogen and then into biomethane. SynBioS, in Bologna Corticella, inside the largest purification plant by users served among those we manage, is currently scheduled to be operational within 2023 and is linked to the support coming from incentives, including for example those coming from the PNRR. One of the first to be built internationally, the SynBioS plant has been made possible thanks to an investment coming to around 10 million euro and the synergies created between energy decarbonisation and water purification. Our multi-business know-how, combined with continuous investments in innovation, research and development, are in fact the strategic drivers that over the years have enabled us to develop cutting-edge integrated solutions in the field of “clean energy”, in line with the programmes outlined in its Business Plan. A plant to obtain biomethane from renewable electricity The plant, which uses “power-to-gas” technology to convert renewable electricity into synthetic natural gas, not only increases the pollutant reduction potential of the sewage treatment plant, but also allows excess renewable energy to be valorised by reusing biomethane in the city’s distribution network, which thus acts as a long-term storage facility. The figures: the annual methane gas consumption of 1,200 households sustainably covered At full capacity, coming to 1 MW, the plant will be able to produce approximately 190 Nm3/h of green gas, preventing roughly 50 Nm3/h of carbon dioxide from being released into the atmosphere, corresponding to the annual impact of about 400 cars. This is a true flagship project from the point of view of the circular economy: while producing enough methane to cover the annual consumption of 1,200 households, in fact, the plant will use the wastewater produced by about 50 people every day, also helping to increase the quality of the purification process itself. For further information Press release Gruppo Hera_Bologna_870.png Within 2023, we will build a system in Bologna equipped with “power to gas” technology, integrated with our largest water purification plant. One of the first to be built internationally, it will be able to convert renewable electricity and wastewater into “green” hydrogen and then into biomethane new_sede_hera_110.jpg

What happened to the Marmolada glacier is unfortunately irreversible, as are other devastating effects of climate change, now plain for all to see. If we are able to successfully reduce climate-changing emissions, this could help to contain climate change, which has by now evolved into an established crisis, and its effects. Energy Solutions for the Climate, the report in which we report on the reduction of our emissions, is online This is the focus of the new edition of our thematic sustainability report Energy Solutions for the Climate, which has just become available online and will soon be available at our main customer service branches. In the report, we present some of the important results we have already achieved on the way to the major target of reducing emissions by 37% by 2030, validated last year by the prestigious international network of the Science Based Targets initiative. Combating climate change: a commitment now enshrined in our Articles of Association We have been active for years in the 'pursuit of carbon neutrality', a goal that deliberately coincides with one of our three drivers for the creation of shared value, which was added to our Articles of Association as our 'purpose’ in 2021. For us, in short, the fight against climate change is crucial and translates into a wide-ranging action that ranges from the sale of renewable electricity and gas with CO2 offsetting to the promotion of energy efficiency, as part of an inclusive logic that involves customers and suppliers, thus contributing to increasing the very chances of success of the transition also promoted by the EU. For further information View the new edition of the online report banner_energy.png Efforts continue to reduce overall climate-altering emissions, which we aim to reduce by 37% by 2030. We present the achievements in 2021 in the second edition of the Energy Solutions for the Climate report energysolutionsfortheclimate_110.jpg

Financial highlights Revenues at 8,896.0 million euro (+112.8%) Ebitda* at 631.2 million euro (+3.3%) Net profit* at 201.7 million euro (-12.7%) Net financial debt at 3,682.4 million euro, with Net debt/Ebitda* at 2.96x, confirming the Group’s financial solidity Operating highlights Contribution to growth comes from main businesses Further development of initiatives for the ecological transition and the circular economy Solid energy customer base, amounting to roughly 3.5 million The Board of Directors of the Hera Group unanimously approved the consolidated operating results for the first half of 2022. Despite the complicated scenario, marked by ongoing volatility on energy markets and international geopolitical conflicts, the Hera Group’s management policies and its solid and resilient business model have once again proven effective. The Group has thus achieved results that guarantee both quality and continuity of services and the constant creation of value for all stakeholders. As regards changes in the scope of consolidation, the energy areas benefited from the acquisitions, through the subsidiary Hera Comm, of 90% of the Abruzzo company Eco Gas and 100% of the company Con Energia. Also note that Hera Comm was awarded the gradual protection service for electricity supply to SMEs in 9 Italian regions. In the waste management area, compared to June 2021, note the integration of 80% of the Vallortigara Group, which provides services to industries, public administrations and citizens and manages a multi-purpose platform for special waste treatment in the Veneto region. Furthermore, note the acquisition on 30 June 2022, through the subsidiary Marche Multiservizi, of 70% of Macero Maceratese, which operates in the waste management sector. With this additional transaction, the Hera Group has strengthened its nationwide leadership in the waste management sector, and industrial waste management and treatment in particular. Revenues reach roughly 8.9 billion euro In the first half of 2022, revenues amounted to 8,896.0 million euro, with a sharp increase (+112.8%) compared to 4,179.7 million euro seen at 30 June 2021, thanks to the contribution coming from all major business areas. The energy areas in particular showed significant growth, mainly related to the increase in commodity prices. Furthermore, growth in energy services was related to energy efficiency in residential buildings (insulation bonus and 110% super-bonus) and increasing activities involving value-added services for customers. As regards the waste management area, instead, higher revenues mainly came from energy production, the expansion of business customer base and changes in market prices. Ebitda* increases to 631.2 million euro Ebitda* for the first half of 2022 rose to 631.2 million euro (+3.3%), against 610.9 million euro at 30 June 2021, up 20.3 million euro, mainly due to contributions coming from the energy, waste management and water areas. Financial operations improved, pre-tax profit and net profit substantially stable The result of financial operations for the first six months of 2022 came to 50.9 million euro, with a 4.2 million euro improvement compared to 30 June 2021, mainly due to lower financial expenses on long-term debt (the result of debt optimisation operations) and lower expenses from discounting provisions. Compared to the equivalent figures for the previous year, pre-tax profit* thus amounted to 284.0 million euro, up slightly (+0.9%) over the 281.5 million euro seen one year earlier, while net profit* pre-minorities, equal to 201.7 million euro, remained in line with that as at 30 June 2021 (206.4 million euro). Net results* at 201.7 million Net profit* at 30 June 2022 amounted to 201.7 million euro, down from 231.1 million in the first half of 2021, which included non-recurring items amounting to 24.7 million, caused by a tax realignment and the partial repurchase of some bonds. Investments rise; net financial debt affected by the higher value of gas storage In the first half of 2022, the Group’s operating investments, including capital grants, amounted to 287.1 million euro, up sharply (+16.3%) compared to the 246.9 million euro seen during the same period of the previous year, and were mainly related to works on plants, networks and infrastructures. Alongside the latter, regulatory adjustments mainly concerned gas distribution, with a large-scale replacement of meters, and the purification and sewerage area. Net financial debt went from 3,261.3 million euro at 31 December 2021 to 3,682.4 million euro at 30 June 2022, showing an increase coming to roughly 421.1 million euro. This was mainly due to a change in net working capital*, due to the higher value of stored gas, already contracted to better serve the needs of the upcoming thermal season and guarantee quality and continuity of service to customers. The net debt/Ebitda* ratio increased slightly, reaching 2.96x. Conto economico (mln €) giu-22 Inc.% giu-21 Inc.% Var. Ass. Var.% Revenues 8,896.0 4,179.7 +4,716.3 +112.8% Other operating revenues 219.4 2.5% 140.2 3.4% +79.2 +56.5% Raw and other materials (7,062.2) -79.4% (2,135.5) -51.1% +4,926.7 +230.7% Service costs (1,105.2) -12.4% (1,260.1) -30.1% -154.9 -12.3% Other operating expenses (39.3) -0.4% (37.9) -0.9% +1.4 +3.7% Personnel costs (308.7) -3.5% (301.8) -7.2% +6.9 +2.3% Capitalised costs 31.2 0.4% 26.3 0.6% +4.9 +18.7% Ebitda* 631.2 7.1% 610.9 14.6% +20.3 +3.3% Amortization, depreciation and provisions (296.3) -3.3% (274.3) -6.6% +22.0 +8.0% Ebit* 334.9 3.8% 336.6 8.1% 1.7 -0.5% Financial operations (50.9) -0.6% (55.1) -1.3% -4.2 -7.6% Pre-tax result* 284.0 3.2% 281.5 6.7% +2.5 +0.9% Taxes (82.3) -0.9% (75.1) -1.8% +7.2 +9.6% Net result* 201.7 2.3% 206.4 4.9% -4.7 -2.3% Result from special items - 0.0% 24.7 0.6% -24.7 +100.0% Net profit for the period* 201.7 2.3% 231.1 5.5% -29.4 -12.7% Invested capital and sources of financing (mn€) June 22 % Inc. Dec 21 %Inc. Abs. change % change Net non-current assets* 7,385.5 104.7% 7,308.3 109.4% +77.2 +1.1% Net working capital* 297.4 4.2% 2.4 0.1% +295.0 +12,291.7% (Provisions) (626.6) (8.9)% (633.4) (9.5%) +6.8 +1.1% Net invested capital* 7,056.5 100.0% 6,677.3 +100.0% +379.0 +5.7% Equity* 3,373.9 47.8% 3,416.0 51.2% (42.1) (1.2)% Long-term borrowings 4,085.1 57.9% 3,633.1 54.4% +452.0 +12.4% Net current financial debt (402.7) (5.7)% (371.8) (5.6%) (30.9) (8.3)% Net debt 3,682.4 52.2% 3,261.3 48.8% +421.1 +12.9% Total sources of financing* 7,056.3 100.0% 6,677.3 100.0% +379.0 +5.7% * Adjusted results For further information Press release Visit Investors web area banner_primo_piano_1H2022_eng.png The half-year report shows increasing revenues and Ebitda, thanks to the contribution coming from the Group’s main business areas img_110x150_1H2022.jpeg

For our circular economy projects, we have obtained from Bureau Veritas Italia, a leading multinational certification company, the certificate for the AFNOR XP X30-901 standard, the first issued to an Italian multi-utility. The French AFNOR XP X 30-901 standard is now the main international reference for implementing a management system for circular economy projects. This model, in fact, provides a point of reference for all companies that, wishing to adopt circular solutions within their production systems, need a certifiable guide on which to base themselves. Certification for the AFNOR standard encourages standardisation of corporate methodologies for project management, achieved by adopting a concrete tool to carry out a critical analysis of these methods in relation to areas of action and environmental, social and economic factors. More specifically, it is based on a matrix that combines the 3 classical factors involved in sustainability (environment, economy, society) with the 7 action areas of the circular economy (Sustainable Procurement, Eco-design, Industrial Symbiosis, Functional Economy, Responsible Consumption, Product Life Extension, Efficient Product and Material Management). We have implemented a management system for our circular economy projects and have set up the following three, according to this matrix: the “HOVE” project to transform the exhausted vegetable oils collected in the served area into biofuel; a project to integrate circularity criteria into procurement; and a project to reuse purified wastewater. Bureau Veritas Italia was therefore called upon to analyse them in detail and has certified the compliance of the company’s management system for circular economy projects with the AFNOR standard. For futher information Press release Visit Bureau Veritas website BV-logo_870.png We have successfully concluded our certification process with the multinational Bureau Veritas, the sector’s leader, confirming the commitment we’ve shown over the years with numerous projects and initiatives favouring the circular economy BV-logo_110.png

The Hera Group, acting through its subsidiary Marche Multiservizi, the leading operator in public utilities in the Marche region, has acquired from the Iesari family 70% of Macero Maceratese, a long-standing company in this area, operating since 1969 in the waste management sector, whose customers are mainly located in the province of Macerata and to a lesser degree in the remaining provinces of the Marche region, as well as in the neighbouring regions of Abruzzo and Umbria. By operating on the free market and creating significant synergies both with the other companies of the Hera Group active in waste treatment and with its own industrial poles already operating in the province of Pesaro and Urbino, Marche Multiservizi expects, when in full force, a 10% increase in turnover and a 5% increase in Ebitda, with an overall benefit for all stakeholders in the area served. History and activities of Macero Maceratese Widely recognised and consolidated in central Italy, for over 50 years Macero Maceratese has been dealing with services related to managing the waste produced by local industries, including SMEs and large-scale retail trade, and activities related to managing municipal waste, partially destined for energy recovery and landfills, and partially for treatment and recovery. With 30 employees working at three sites in Macerata, Piediripa di Macerata and Martinsicuro (Teramo province), in the last three years Macero Maceratese has handled an annual average of 58 thousand tonnes of waste. The main plant in Piediripa di Macerata is home of two large-capacity pressing plants, a shredding plant and a waste sorting plant, which boast ISO 9001, ISO 14001 and OHSAS 18001 certification, modern equipment and qualified personnel. For further information Press release sede MMS_870.png With this additional transaction, which follows up on others carried out in previous years, the Hera Group has strengthened its national leadership in the waste management sector, regarding in particular industrial waste management and treatment sede MMS_110.JPG

According to Arera, the Regulatory Authority for Energy, Networks and the Environment, we are among the top providers in Italy regarding technical quality of the water service. The ranking, drawn up after a careful assessment by the Authority, refers to the two-year period 2018-2019 and is designed to verify the quality and efficiency of water infrastructures. Interruptions to services, leaks, quality of water supplied, adequacy of the sewerage system, quality of purified water and disposal of sludge. These are the 6 macro-indicators on which each of the water service operators active on the national territory has been analysed and classified. By analysing the data up to 17 July 2020, the Authority was able to award a prize to those who have achieved, maintained and improved on the objectives set. We figure at the top of the ranking, scoring particularly well with regard to the levels of service in the regions of Rimini, Bologna, Ravenna and Forlì-Cesena. This result rewards our use of innovative technologies for the efficient management of the water cycle, and the work of our many professionals, who are committed to ensuring continuity, safety and quality of service on a daily basis. The involvement of local governments has also been fundamental to achieving this goal, with whom we have always teamed up to guarantee citizens an increasingly better service. For further information Read Arera's survey Visit our web area dedicated to the water service Img_servizio-idrico-secondo-arera (2).png The ranking, referring to the two-year period 2018-2019, verifies the quality and efficiency of water infrastructures

We are the foremost company in Italy for the importance of sustainability policies, fully and consciously incorporated within business strategies. This is demonstrated, for the second consecutive year, by the Integrated Governance Index, the main quantitative index to measure the integration of ESG factors in corporate governance, managed by ETicaNews and presented in Milan at the ESG Business Conference. Sustainability at the heart of our strategies Ever since our foundation, sustainability has been at the core of our strategy. This award is therefore fully in line with the cultural transformation that began 20 years ago and has concerned all aspects of the Group. ESG factors are indeed fully integrated within our activities and represent a strategic asset in all respects. Our attention to sustainability is also proven by the recent transformation of subsidiary Hera Luce into a Benefit Corporation. This decision represents a further step towards sustainable development, following last year’s introduction of the concept of corporate purpose into our Articles of Association. For further information Press release Sustainability Report 2021 Our Green Bonds Logo IGI 2022_870.jpg The index measures the degree to which ESG factors are integrated within corporate governance. Logo IGI 2022_110.jpg