Press releases

2022-11-09 Despite the complex macro scenario, the Group’s quarterly report at 30 September 2022 shows an increase in Ebitda compared to 2021. Hera’s multi-business model, balanced between internal growth and M&As, and its financial solidity have made it possible to seize strategic market opportunities, while maintaining a low risk profile, and to confirm the generation of value for all stakeholders, including actions intended to support customers experiencing difficulty. Financial highlights Ebitda* at 875 million euro (+2.4%) Net result* at 248 million euro (-5.6%) Net financial debt at 4,489 million euro, with net debt/Ebitda* at 3.62x Investments increase sharply to 463 million euro (+22.8%) Operating highlights Contribution to growth coming from core businesses Expansion in initiatives for the ecological transition and the circular economy Commercial margins maintained in the energy area Significant operating investments in networks, plus a significant effort in gas storage, as well as the completion of a number of M&As Solid energy customer base, approximately 3.5 million Today, the Hera Group’s Board of Directors, chaired by Tomaso Tommasi di Vignano, unanimously approved the consolidated quarterly report at 30 September 2022. Although the results achieved in the first nine months of the year are part of a complicated scenario, characterised by ongoing volatility on the energy market, which became even more pronounced over the last three months, as well as the complex current economic and geopolitical conditions and the gradual increase in inflation in the country, these figures highlight the Group’s ability to offset adversity, continuing to pursue the goals set out in its business plan, with increasing sustainable investments aimed at generating positive effects for the communities and local areas served. Moreover, the Hera Group’s resilient business model, the management policies it implements and its financial solidity have continued to enable it to seize the strategic opportunities offered by the market, to guarantee a high quality and continuity in its services while at the same time supporting and confirming the commitments made to all its stakeholders. Among the initiatives in support of stakeholders, note the flexibility shown towards the Group’s suppliers, who were able to revise their supply conditions based on inflation, and the significant gas storage initiative intended to support the customer base and the Italian gas system as a whole. As regards customers, thanks to the special attention to disadvantaged users, more favourable instalment terms than those provided for by law, an extension of the social bonus to include district heating, compliance with and maintenance of fixed-price contractual conditions, to date the performance in receipts for bills has been confirmed as essentially regular. Moreover, continuing along the path of continuous growth that aims to provide its customers with efficient, innovative and competitive solutions in terms of both costs and sustainability with respect to the circular economy, * In order to make the reading of the results more closely reflect the actual performance of the gas area and to ensure that these results are more easily comparable, the figures with an asterisk include a operational adjustment that considers a valuation of the gas injected into storage at the prices dating to the injection period, thus excluding supplies intended for delivery to end customers with costs defined in 2021 (much lower than costs in 2022). See the section the Hera Group continued to expand its scope of operations. In the energy area, the company Con Energia was acquired through subsidiary Hera Comm, while in the waste management area, Marche Multiservizi acquired the company Macero Maceratese, which specialises in waste recovery and treatment in the province of Macerata. In recent weeks, an important transaction was also finalised, which will take effect as of 2023. This is a long-term partnership that foresees the acquisition of 60% of the company A.C.R. di Reggiani Albertino S.p.A.®, one of Italy’s largest companies operating in the sector of remediation, industrial waste treatment, industrial plant decommissioning and civil works related to oil & gas, based in Mirandola (Modena). The new company will also bring together a number of remediation and global service activities already managed by the Hera Group through the company HASI. This transaction further consolidates the Hera Group's leadership in the waste management sector and will create Italy’s leading operator in the remediation and global service business, with a widespread presence throughout the peninsula. Revenues rise to roughly 14.3 billion euro In the first nine months of 2022, revenues amounted to 14,320.1 million euro, up sharply (+122.9%) from the 6,424.3 million euro seen in the same period of the previous year. In particular, the energy segments showed significant growth mainly due to the increase in the price of energy commodities, which reached very high figures, especially in the third quarter of the year. In addition, growth in energy services was related to energy efficiency-oriented interventions in homes (insulation bonus and 110% super-bonus) and an increase in activities involving value-added services for customers. New acquisitions in the industrial market, energy production and higher market prices were mainly responsible for the higher revenues in the waste management sector. Ebitda* increases to 874.8 million euro Ebitda* for the first nine months of the year amounted to 874.8 million euro, up 2.4% from the 854.4 million euro seen at 30 September 2021. The performance of the waste management area was particularly good, with Ebitda up 27.8 million euro, as was that of the water cycle area, up 7.3 million euro, fully offsetting the lower contributions coming from the energy area and the other services area. Despite the increasingly unfavourable market situation, overall operations in the third quarter for all energy sales activities in the Group’s portfolio (considering not only gas and electricity, but also energy services) led to results that were essentially in line with the same period of 2021. Financial operations essentially stable and pre-tax profit* at 347.5 million euro The result from financial operations for the first nine months of 2022 came to 89.5 million euro, basically stable compared to the 85.4 million seen during the first nine months of 2021. This change is mainly due to the increase in net financial debt generated by the trend in energy commodity prices compared to 2021. Despite the slight negative impact of financial operations and higher depreciation and amortisation, provisions and impairment losses, pre-tax profit* amounted to 347.5 million euro, basically in line with the 356.5 million euro recorded in the first nine months of 2021. Net result* and at 248.4 million euro With a tax rate of 28.5%, up from the same period in 2021 (26.2%) mainly due to the recognition of the non-recurring contribution against high utility bills (amounting to 2.3 million euro) and the recognition of lower benefits related to the tax credit on investments linked to the technological, digital and environmental transformation, the net result* and net profit* for the first nine months of 2022 amounted to 248.4 million euro. Net profit was largely stable compared to the 263 million seen at 30 September 2021. Strong growth in investments and net financial debt sensitive to the higher value of stored gas In the first nine months of 2022, the Hera Group’s operating investments, including capital grants, amounted to 463.3 million euro, up 22.8% compared to the 377.2 million euro seen in the same period of the previous year, with a major focus on resilience- and circularity-oriented projects, as set out in the business plan. The most significant interventions concerned plants, networks, and infrastructures, as well as regulatory upgrading focusing on gas distribution and the integrated water cycle, respectively involving a large-scale replacement of new-generation meters and specific interventions in the purification and sewerage areas. A significant amount of financial resources (about 820 million euro, more than 10 times the amount seen in 2021) was invested in gas storage, consistent with the effort requested by the government from operators in the sector to contribute to a secure supply in the following months. This is a strategic and temporary investment (the storage facilities will be emptied progressively, lasting through the first half of 2023), which gives the Group security and flexibility in supplying gas to its customers over the upcoming months, reducing risks and guaranteeing flexibility and margins in supply management. Net financial debt increased to 4,489.2 million euro, compared to the 3,261.3 million euro seen at 31 December 2021. This growth is attributable to the increase in net working capital, which rose as a result of both the significant gas storage initiatives completed and higher energy commodity prices in 2022 compared to the previous year. The increase in the Group’s debt is reflected in the net debt to Ebitda* ratio, which rose to 3.62x. Not including the deployment of resources for the gas inventory, which is expected to come back into line within the next six months, this ratio stands at 2.9x. Gas Ebitda* for the gas area - which includes natural gas distribution and sales, district heating, and energy services - rose to 377 million euro, a strong improvement (+23.8%) compared to the 304.5 million euro seen in the same period last year. This growth, both in terms of margins and volumes sold to end customers, was mainly due to the opportunities created in the energy services sector by energy efficiency incentives (110% super-bonus and insulation bonus), by the corporate acquisitions of Con Energia and Eco Gas, and by the tenders awarded involving the last resort and Consip markets. More specifically, for the period 1 October 2021 - 30 September 2023, Hera Comm was awarded 6 lots of the last resort gas service in 12 regions of Italy, all 9 lots of the default gas distribution service in 19 regions and 2 lots of the Consip GAS14 tender for supplying natural gas to public administrations in 2022, both in Lombardy. A slight increase occurred in the gas customer base (+0.7% compared to the same period of the previous year), which overall came to almost 2.1 million The gas area accounted for 43.1% of Group Ebitda. Electricity Ebitda for the electricity area - which includes generation, distribution and sales of electricity as well as value-added services - amounted to 22.1 million euro, compared to the 103.5 million euro seen in the same period of 2021. The main reasons for this trend consist in different conditions on energy markets compared to the previous year, linked in particular to the exceptional context of rising raw material prices, which affected procurement activities and impacted margins. One must note, however, the solid commercial development, confirmed by an increase in the customer base and a greater adherence to innovative offers (relating to electric mobility, photovoltaics, heating and air conditioning) as well as value-added services. Furthermore, through a tender Hera Comm was awarded 4 lots of the Consip EE19 tender for supplying electricity to public administrations in 2022 in the province of Rome and 3 other regions, 3 lots of the graduated protected service for supplying electricity to SMEs for the period from 1 July 2021 to 30 June 2024 in 9 regions, and 1 lot of the safeguarded service for the years 2021 and 2022 in 3 regions. The customer base in the electricity area came to over 1.4 million (+2.6%), mainly due to increased commercial actions in the free market. The electricity area accounted for 2.5% of Group Ebitda. Water cycle Ebitda for the integrated water cycle area - which includes aqueduct, purification and sewerage services - amounted to 205.8 million euro at 30 September 2022, up (+3.7%) compared to the 198.5 million euro seen in the same period of the previous year. This change was mainly due to ARERA’s recognition of Hera’s commitment to high standards of technical quality. These positive results more than offset the higher procurement costs for energy components and higher operating costs in networks and plants, partially due to the increase in the price lists of suppliers of materials and services. Also note that, with regard to concessions, Atersir definitively awarded the tender for the integrated water service in the Province of Rimini to Hera for the period from 2022 to 2039. The Hera Group, already the outgoing operator in 24 municipalities in this province, will be responsible for this service over the next 18 years, during which it will focus on innovation and sustainability. In the first nine months of 2022, investments in the integrated water cycle area amounted to 135.1 million euro, up by 14.9 million euro compared to the previous year, and mainly involved extensions, reclamation and upgrading on networks and plants, as well as regulatory upgrading mainly in the purification and sewerage areas (90.7 million euro in the aqueduct, 34.4 million euro in sewerage and 24.3 million euro in purification). The integrated water cycle area accounted for 23.5% of Group Ebitda. Waste management Ebitda for the environment area - which includes waste collection, treatment, recovery and disposal services - rose to 246.2 million euro at 30 September 2022, +12.7% compared to the 218.4 million euro seen for the first nine months of 2021. Waste treatment activities contributed to this result above all, with Ebitda coming to 197.3 million euro, up by 29.8 million euro, while for collection and sweeping services, to which the Group has always paid great attention in terms of service quality and development, Ebitda amounted to 48.9 million euro. These margins are in line with expectations and occurred within a context characterised by the beginning of new concessions in the Ravenna-Cesena, Modena and Bologna areas and the ensuing increase in service costs in these same areas. Despite the complexity of the current external context, the Group continues to guarantee a considerable level of growth by consolidating its leadership in the waste management sector, particularly in the industrial market and in recovery, favoured by its excellent set of plants (roughly one hundred certified, state-of-the-art plants capable of treating all types of waste), by M&A operations and by sound management and commercial policies. The increase in Ebitda was mainly due to higher margins in energy management, coming to roughly 23 million euro, the expansion of the industrial waste market with new acquisitions, amounting to approximately 2 million euro, and the increase in price of treated waste, partially offset by an increase in purchasing prices for consumables and treatment and transport costs. Investments in the waste management area, which mainly involved maintenance and enhancement of waste treatment plants, amounted to 96.8 million euro, up 44.0 million euro over the previous year. Of these, 21.4 million euro were invested in waste-to-energy plants, including revamping on the Trieste plant and non-recurring maintenance on the Bologna and Rimini plants, while roughly 15 million euro were allocated to the composting/digesting chain, in particular for the beginning of construction on a new plant for biomethane production through the company Biorg, created out of a partnership with Inalca, part of the Cremonini Group. Environmental resource protection was also confirmed as a priority objective in 2022, including the maximisation of their reuse, as is further demonstrated by the increase in sorted waste collection, which in the first nine months of 2022 reached 66.8%, up 2% compared to 30 September 2021. The environment area accounted for 28.1% of Group Ebitda. The manager responsible for drafting the company’s accounting statements, Massimo Vai, declares, pursuant to article 154-bis paragraph 2 of the TUF, that the information contained in the present press release corresponds to the documentation available and to the account books and entries. The financial statements and related materials will be available to the public pursuant to the terms established by law at the Company Headquarters and on the website www.gruppohera.it. Unaudited extracts from the Intermediate Consolidated Financial Statements at 30 September 2022 are attached. 20221109 3Q2022 Financial results Hera Group.pdf 14:01:00 Nuova_Palazzina_110x150.1533218221.jpg See the press release Nuova_Palazzina_110x150.1533218221.jpg

2022-11-07 The binding agreement signed today provides for the acquisition by the Hera Group of 60% of ACR, based in Modena and leader in the remediation and industrial waste treatment sector. Today, the Hera Group, acting through its subsidiary Herambiente Servizi Industriali (HASI), signed a binding agreement for a long-term partnership that provides for the acquisition of 60% of the company A.C.R. di Reggiani Albertino S.p.A. ® (hereinafter ACR), one of Italy’s largest companies in the reclamation sector, involved in industrial waste treatment, decommissioning industrial plants and oil & gas-related civil works, based in Mirandola (Modena). The new company will also bring together some of the remediation and global services activities carried out by HASI. This unprecedented transaction gives way to the leading national operator in the remediation and global services business, with an extensive presence throughout Italy. The Hera Group will thus further strengthen its leadership in the waste treatment sector, thanks to its approximately one hundred certified, state-of-the-art plants. It can now rely on ACR’s high operating capacity, time-to-market in services and significant machinery and equipment, which is already active in over 100 remediation sites with over 450 employees and having among its customers the major players in the oil & gas sector. With this partnership, on the one hand, the Hera Group will reach in advance the target in reclamation activities set out in its business plan, following up on the path of growth already achieved in this area in terms of both size and sustainability/circular economy, in line with the goals on the UN’s 2030 Agenda, which over the last 10 years have enabled it to double its customer base. On the other hand, ACR is implementing its strategic plan by making an agreement concerning commercial areas with a leading national player in the sector, strengthening its presence in its core remediation business and entering the world of global services. The details of the transaction The synergies between the Hera Group’s set of plants and its multi-business strategy and ACR’s consolidated experience in environmental and industrial remediation are unique nationwide, in terms of know-how and waste treatment capacity, capable of creating significant and positive operating effects in the sectors in which the two companies operate, thus pooling their respective experience and outstanding skills. Through its subsidiary HASI, the Hera Group now manages 18 multi-purpose sites dedicated to treating waste produced by companies, and processes 1.3 million tonnes of industrial waste every year. In 2021, ACR generated revenues amounting to roughly 110 million euro, with Ebitda coming to approximately 17 million in the sectors concerned by the transaction. The current owners of ACR (the Reggiani family) will maintain 40% of the new corporate structure. In order to regulate the future governance, a Shareholders Agreement will be signed that provides for a Board of Directors of the new ACR made up of 5 members, 3 of whom will be appointed by the Hera Group and 2 by the Reggiani family, with the nomination of the two brothers Alberto and Claudio Reggiani as CEOs. Integrating the new ACR platforms with the plants currently managed by HASI, furthermore, will increase the number of solutions close at hand in the areas served in the past, improving efficiency and quality of services to businesses, also due to synergies with Herambiente. This new partnership is therefore in line with the strategic orientation adopted by the Group, whose activities are always aimed at guaranteeing positive returns and economic benefits for its customers and for local companies. This transaction follows up on the acquisitions completed some years ago by the Hera Group (from Waste Recycling, Teseco and Pistoia Ambiente in Tuscany, to Geo Nova and Aliplast in Treviso), and more recent acquisitions including the Friuli-based company Recycla, the Vallortigara Group, with offices in Vicenza, and shareholdings in the Marche-based companies SEA and Macero Maceratese. It thus represents a further step along the path of continuous growth achieved by Hera, which aims to provide its customers with efficient, innovative and competitive solutions in terms of both costs and sustainability in the circular economy. “With this new acquisition, we bring together the excellence and strengths of two leading companies that, together, complement each other synergistically to respond in an increasingly efficient and extensive way to the needs of companies, particularly those with large industrial plants where complex types of waste, both solid and liquid, must be treated. With this transaction, we have consolidated our leadership in this sector and aim to further reinforce our range of integrated waste management services, benefitting the entire national territory”, comments Tomaso Tommasi di Vignano, Executive Chairman of the Hera Group. “Becoming part of a large and financially solid company such as the Hera Group, well rooted in the areas served and provided with many specialisations, will allow us to broaden our horizons and enrich our activities in the waste management sector, integrating all the necessary and fundamental skills to be counted among the most important players nationwide in the area of remediation. We and our collaborators are convinced that this aggregation will allow us to face and overcome highly significant challenges together,” explain the brothers Alberto and Claudio Reggiani, CEOs of A.C.R. di Reggiani Albertino S.p.A.® In addition to the agreement signed today, the partnership will be subject to the usual conditions applied to this type of transaction and to all communications and approvals by the relevant authorities and bodies, as well as, with regard to the shareholdings involved, to the effectiveness of a number of preliminary transactions within ACR. The parties expect to complete the transaction by 31 March 2023. 20221007 Gruppo Hera and ACR binding agreement.pdf 18:13:00 Nuova_Palazzina_110x150.1533218221.jpg See the press release Nuova_Palazzina_110x150.1533218221.jpg

2022-09-28 In the international ranking of Refinitiv’s 2022 “Diversity & Inclusion Index”, the Group is 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. The Hera Group has 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 the Group a score that places Hera in the TOP10 of the international ranking, now first among multi-utilities and the top Italian company. The “Diversity & Inclusion Index” is managed by the international financial information giant Refinitiv (formerly Thomson Reuters), and evaluates companies’ performance based on an analysis of four areas: diversity, inclusion, people development and controversies related to media exposure. 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 the Hera Group pays 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 Hera’s personnel policies: its 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). Outside the company, numerous initiatives have been developed to improve relations with customers including foreigners or those with disabilities, and to help spread an inclusive culture in society through projects with schools and associations in the areas served. “Acknowledgements such as this reinforce our daily commitment to encouraging an inclusive culture in the company and in the areas where we operate”, comments Tomaso Tommasi di Vignano, Executive Chairman of the Hera Group. “Starting from corporate welfare policies and professional development paths, this also includes training, as well as numerous projects to support marginalised and disabled people, collaborating with schools and associations. On the year of our twentieth anniversary, being the leading multi-utility in the world and the top company in Italy in the field of Diversity & Inclusion represents for us not a point of arrival, but rather an additional reason to continue to improve and to commit ourselves. All of this urges us, indeed, to put our workers and the citizens we serve even more at the centre, also benefiting the younger generations and favouring social equity, always with a view to pursuing the creation of shared value for all stakeholders.” Hera Group in the DI Index 2022.pdf 12:41:00 Nuova_Palazzina_110x150.1533218221.jpg See the press release Nuova_Palazzina_110x150.1533218221.jpg

2022-09-28 These two Emilia-Romagna companies have signed a three-year agreement to launch circular economy initiatives and boost sorted waste collection and recovery CIRFOOD, a leading Italian cooperative company active in the collective and commercial catering and welfare services sector, and the Hera Group, one of Italy’s largest multi-utilities, signed a memorandum of understanding today – one day before the International Food Loss and Waste Awareness Day – to collaborate on projects aimed at fostering circular economy, environmental sustainability and sustainable mobility, consistent with the sustainable development goals set out in the UN 2030 Agenda. The agreement signed today between Hera and CIRFOOD, which for years have both been committed to promoting initiatives aimed at sustainability, will last three years and will be developed by gradually implementing a series of environmental projects and initiatives. This will begin with catering outlets located mainly in the areas served by Hera, and will gradually expand its scope of action to other regions. Extensive awareness-raising activities will also be jointly developed, targeting both employees and customers, to whom specific campaigns will be dedicated. This collaboration is even more significant if one considers the figures represented by the two companies. In 2021 alone, CIRFOOD, Italy’s foremost company in collective catering, prepared more than 77 million meals, employing almost 12 thousand people and managing 1,700 kitchens and 120 public establishments. As of today, this large organisation will benefit from the Hera Group’s twenty years of experience in the field of waste management: Hera is in fact the leading national operator in terms of waste treated and in 2021 reached over 65.3% of sorted waste collection on average in the areas it serves (over 180 municipalities with 3.2 million citizens). Moreover, Hera was the first utility in Italy to join the Ellen MacArthur Foundation, a prestigious international network that brings together the world’s most active players in the transition towards the circular economy. Projects in the circular economy, environmental sustainability and sustainable mobility In the current economic and environmental context, waste is an increasingly urgent issue which must be addressed, and to which the Italian and European political agenda is also focused, making those involved in its production and management increasingly responsible. With this agreement, Hera and CIRFOOD have launched a collaboration concerning several specific projects in the field of environmental sustainability, from countering food waste to finding solutions for sustainable mobility, without forgetting research on solutions consistent with the principles of the circular economy both in choosing between types of packaging and in managing their end-of-life, up to the most advanced solutions in valorising discarded materials, whether food or otherwise. The organic waste produced in catering outlets will thus be used to produce biomethane and compost in the Hera Group’s plant near Bologna, in Sant’Agata Bolognese, while exhausted vegetable oils (those that remain at the end of food preparation, e.g. frying oils, or those used to preserve food) that are separately collected can be used to produce hydrogenated biofuel, thanks to the partnership signed by Hera with Eni. Hera and CIRFOOD will also collaborate in studying the best materials to use as an alternative to single-use plastic, combining food safety with the lowest possible environmental impact, and in developing projects to recycle the plastic used in catering outlets. Hera will furthermore be able to provide support on how to sort and treat the waste produced. Over 260 CIRFOOD outlets potentially involved The number of CIRFOOD catering outlets potentially involved in the various projects covered by the protocol signed today comes to 269. More specifically, as of 1 September, 245 kitchens send their used cooking oil to Hera, while the organic waste produced in 24 catering outlets can be used to produce biomethane and compost at the Hera Group’s plant in Sant’Agata Bolognese. “The transition to the circular economy is first and foremost a cultural challenge. This agreement with CIRFOOD provides a virtuous example of this fact, and bears witness to how even companies that are apparently quite distant as regards their daily activities can find common ground and bring about this important change together”, says Orazio Iacono, CEO of the Hera Group. “The challenges currently facing us require an ever greater valorisation of what, until quite recently, we used to call waste. Today, it must be increasingly considered as a resource, or an opportunity to consume fewer raw materials and to create and sustain an efficient recovery industry that contributes to the well-being and prosperity of our communities.” “The scope of the economic, social and environmental changes we are now undergoing requires us to become even more aware of the role each of us plays in safeguarding our planet’s resources”, comments Chiara Nasi, Chairman of CIRFOOD. “CIRFOOD is committed every day to implementing solutions that can guarantee sustainable development, to the benefit of all its stakeholders, the company and the area served. We also know, however, that the action of one single company is not enough. Sustainability can only be seen as a common goal, and the joint commitment of CIRFOOD and HERA on circular economy issues is intended as a response to the needs of communities and the challenges faced by society, from an intergenerational perspective.” 20220928 Hera Group and CIRFOOD sustainability pact.pdf 10:31:00 Nuova_Palazzina_110x150.1533218221.jpg See the press release Nuova_Palazzina_110x150.1533218221.jpg

2022-09-06 Within 2023, the Hera Group will build a system in Bologna equipped with “power to gas” technology, integrated with its 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. It will thus be possible to power the annual consumption of 1,200 households and avoid CO2 emissions equivalent to the amount produced in one year by 400 cars. The Hera Group, one of Italy’s largest multi-utility companies, presents its innovative “power to gas” plant named SynBioS (Syngas Biological Storage) at the Gastech exhibition in Milan, an event dedicated to the energy sector. This plant will be able to convert renewable electricity and wastewater into “green” hydrogen and then into biomethane. SynBioS, located in Bologna Corticella, inside the largest purification plant by users served among those managed by the Group, 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. The Group’s multi-business know-how, combined with its continuous investments in innovation, research and development, are in fact the strategic drivers that over the years have enabled Hera to develop cutting-edge integrated solutions in the field of “clean energy”, in line with the programmes outlined in its Business Plan. For this project the Group has confirmed the collaboration with its outstanding partner Pietro Fiorentini, an Italian market leader in the production of products and services for the entire natural gas chain, that in recent years has made significant investments in developing innovative solutions related to the renewable energy sector. 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. More specifically, the plant will use wastewater and renewable electricity to produce “green” hydrogen and oxygen. Taking advantage of the CO2 found in the biogas produced by sewage sludge digestion, the hydrogen is converted into biomethane, which can then be fed into the city’s gas network, without concentration limits, and easily stored, thus enabling a diversified supply. Furthermore, oxygen will be used in the future to increase the sewage treatment plant’s capacity and efficiency in purification. 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 waste water produced by about 50 people every day, also helping to increase the quality of the purification process itself. “For our Group, this plant represents a further significant experience in process integration between our state-of-the-art plants and an industrial synergy between the electricity grid and the city’s gas distribution network. The ‘power-to-gas’ plant and the purification plant, in fact, will work in a strong symbiosis within a perfectly circular regime”, says Alessandro Baroncini, the Hera Group’s Central Director for Networks. “Moreover, it provides additional confirmation of the Group’s commitments included in its significant investment programme, aimed at innovation and improving the performance of networks and plants, with a view to continuously ensuring the highest service quality and efficiency and pursuing the goals of energy decarbonisation, environmental sustainability and resource protection, in line with the strategies outlined in our Business Plan. This initiative, once again, sees us as a forerunner in the sector, with the hope of providing the government and the regulator with elements that can help support the industrial development of these applications.” “The strategic vision of the Hera Group, an excellence among our multi-utilities, coincides exactly with what Pietro Fiorentini has developed in recent years to support the ambitious European programmes as regards the energy transition”, says Cristiano Nardi, Executive Chairman of the Pietro Fiorentini Group. “We believe that the construction of the Bologna Corticella plant represents a fundamental milestone in the evolution of the energy sector, which is now facing a range of new challenges. Being a partner of the Hera Group once again for this challenging project is for us a source of great satisfaction and pride.” 20220906 SynBioS technical description (123 kb - PDF) 20220906 SynBioS to meet the decarbonization challenge.pdf 14:00:00 Nuova_Palazzina_110x150.1533218221.jpg See the press release Nuova_Palazzina_110x150.1533218221.jpg

2022-07-27 The half-year report shows increasing revenues and Ebitda, thanks to the contribution coming from the Group’s main business areas. The management policies implemented and the solidity and resilience of Hera’s business model have once again proven effective, allowing the Group to achieve results in line with the projections of the Business Plan to 2025, even in the current difficult economic situation, and to continue creating value for all stakeholders. 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 Today, the Board of Directors of the Hera Group, chaired by Tomaso Tommasi di Vignano, 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. Hera’s now consolidated multi-business strategy, balanced between internal growth and M&As, as well as between regulated and free market activities, indeed allowed the Group, even in scenarios characterised by increasingly frequent systemic crises, to positively face the challenges of 2022. The results achieved in the first half of the year are even more appreciable considering that they also fully offset the negative impact of ARERA’s resolution 614/2021, containing a reduction of return on capital invested in regulated activities (WACC). 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. * In order to ensure that the results presented reflect the actual performance of the gas business more clearly, and are thus more easily comparable, the figures with an asterisk include an operational adjustment based on a valuation of stocked gas at prices pertaining to the period of injection, thus excluding procurement intended for delivery to end customers with costs defined in 2021 (much lower than the costs seen in the second quarter of 2022). See the paragraph entitled “Special items and operational adjustments / balance sheet reconciliation” in the first-half financial report, which contains a comparison between the operating and the consolidated statements. 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. Gas Ebitda* for the gas area – which includes natural gas distribution and sales, district heating and energy services – amounted to 299.3 million euro in the first half of 2022, a strong improvement (+26.2%) over the 237.1 million euro seen at 30 June 2021. This increase was mainly driven by higher sales and trading, thanks to an expansion of the area served resulting from last resort markets and the recent corporate acquisitions of Eco Gas and Con Energia, as well as the positive margins recorded on traditional markets. Also note the growth in incentivised activities involving energy efficiency and district heating services, and the increased earnings in the gas business in Bulgaria A slight increase occurred in the gas customer base (+1.6% compared to the same period of the previous year), which came close to 2.1 million overall. This growth took place both on last resort markets and on traditional markets, thanks to the expansion of the area served owing to the Consip tenders and the aforementioned acquisitions in the energy sector. The gas area accounted for 47.4% of Group Ebitda. Electricity Ebitda for the electricity area – which includes electricity generation, distribution and sales services – amounted to 40.1 million euro, down compared to the same period in 2021 due to different conditions on energy markets, related to the exceptional context of rising raw material prices, which caused a lesser use of the dispatching services market and made procurement activities more costly, particularly in customer consumption profiling. Note the positive result obtained from sales initiatives involving free market customers, supported by innovative offers, value-added services and improved customer experience. Alongside this, Hera Comm was awarded, for the period from 1 July 2021 to 30 June 2024, the gradual protection service for electricity supply to SMEs in nine Italian regions. An increasing request for value-added services was also seen, with 49% growth in customers compared to the previous year, demonstrating the growing loyalty of the Group’s customer base. The customer base in the electricity area also continued to expand, now exceeding 1.4 million (+5.6%), mainly as a result of activities on the free market, both due to the gradual protection service awarded and the strengthening of the commercial actions introduced. The electricity area accounted for 6.4% of Group Ebitda. Water cycle Ebitda for the integrated water cycle area – which includes aqueduct, purification and sewerage services – amounted to 125.3 million euro at 30 June 2022, up (+2.5%) compared to the 122.3 million euro seen in the first half of 2021. This increase is mainly due to the contribution coming from higher supplying revenues and the excellent performance achieved by the Group in terms of technical quality in managing the integrated water service. Note, in fact, that during 2022 the regulatory authority ARERA published the results relating to the incentive mechanism falling within the technical quality regulations established by resolution 917/2017, referring to the years 2018-2019, and the Hera Group was at the top of the nationwide ranking. In the first half of 2022, investments made in the water cycle area, including capital grants, rose to 96.2 million (59.3 million in the aqueduct, 20.8 million in sewerage and 16.0 million in purification), up 7.7% compared to the same period of 2021. The integrated water cycle area accounted for 19.9% of Group Ebitda. Waste management In the first half of 2022, Ebitda for the waste management area rose to 150.7 million euro overall, up from the 142.6 million seen at 30 June 2021. More specifically, Ebitda for waste treatment services amounted to 117.9 million, up 12.7 million, while Ebitda for collection and sweeping services amounted to 32.8 million, down 4.6 million, mainly due to the beginning of new concessions. The increased Ebitda for treatment services was primarily due to a rise in earnings from energy management and expansion in the industrial waste market. Note the increase in waste commercialised, due mainly to an increase in market waste, thanks to the consolidation of existing business relations, the larger customer portfolio and recent corporate acquisitions. The increase in sales prices for market activities was also able to fully neutralise the effect of inflation on costs. Thanks to its sound management policies and its set of plants, which continues to represent a strategic and distinctive asset, also for its ability to promote the circular economy, the Hera Group thus continues to seize opportunities for growth, confirming its ability to react with great resilience to the current market context, despite the geopolitical situation and the economic stagnation seen during the first half of the year. In Italy, in fact, the progressive and persistent increase in energy costs and the difficulties in obtaining raw materials, which began at the end of 2021, led to a slowdown in production in many manufacturing sectors during the first six months of 2022, with repercussions for waste production as well. Despite this, the Group was able to consolidate its leadership in the markets in which it operates (especially the industrial and recovery markets), with Aliplast’s continued commercial expansion in plastic recycling and regeneration. In the first six months of 2022, all the main circular economy initiatives launched in previous years continued, from material recovery to the production of renewable energy (such as the ongoing construction of a new plant in Spilamberto for biomethane production). Protecting environmental resources remains a priority objective in 2022, as does maximising their reuse, as is shown by the special attention dedicated to increasing sorted waste collection, which in the first half of 2022 stood at 66.4%, up 1.3% compared to June 2021. The waste management area accounted for 23.9% of Group Ebitda. Statement by Executive Chairman Tomaso Tommasi di Vignano The results we achieved in the first half of the year are consistent with both the growing results presented in the first quarter and the main targets included in the Business plan. Our prudent and risk-averse management policies have shown great resilience, even when faced by the current extreme scenarios, guaranteeing that our long track record of growth continues. This situation has enabled us to remain fully compliant with our commitments to investors, as demonstrated last month with the payment of a dividend in line with expectations and up 9% year-on-year. Armed with a resilient business model and a well-proven financial solidity, we are prepared to face the current context, committed to meeting our commitments towards all our stakeholders in the future as well. Statement by CEO Orazio Iacono Despite the unstable national and international energy context and extreme market volatility, the Hera Group performed better in the first half of 2022 than in the same period of the previous year, achieving overall positive results in all business areas. In addition, the Group’s financial solidity enabled us to confirm the important programme of planned investments, which were up by over 16% in the first half of the year compared to 2021 and were aimed at innovating and improving the performance of networks and plants, with a view to ensuring the highest service quality and efficiency at all times. Alongside this, we continue to pursue sustainable and inclusive growth, benefitting communities and local areas Press release H1 2022 .pdf 15:01:00 Nuova_Palazzina_110x150.1533218221.jpg See the press release Nuova_Palazzina_110x150.1533218221.jpg

2022-07-25 The Group has successfully concluded its certification process with the multinational Bureau Veritas, the sector’s leader, confirming the commitment shown by Hera over the years with numerous projects and initiatives favouring the circular economy. For its circular economy projects, Hera has 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). Hera has implemented a management system for its circular economy projects and has set up the following three, according to this matrix: the “O.V.E.” 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. “Obtaining this certification guarantees greater transparency in the results achieved by the Hera Group in the area of the Circular Economy towards all its stakeholders”, comments Marcello Guerrini, Group Manager of Corporate Services. “Sustainable development has always been at the heart of our company’s strategies, across all of its businesses, and the application of the management system foreseen by the AFNOR standard, certified by an authoritative third-party body such as Bureau Veritas, gives value to all the efforts made over the years and contributes to responding even more efficiently to Goal 12 of the 2030 UN Agenda (Ensure sustainable consumption and production patterns). It thus represents a further important step for the Hera Group, which for years has been committed to initiatives aimed at favouring the transition towards an increasingly circular economy.” Andrea Filippi, Certification Service Line Manager of Bureau Veritas Italia points out that “the transition from the current linear economic system to a circular economy model goes through concrete and verifiable actions. Bureau Veritas Italia stays by the side of organisations that – like Hera – choose innovative circular models by measuring themselves against international best practices. Thanks to the management system foreseen by AFNOR XP X 30-901, companies benefit from a roadmap that helps them define objectives, measure and communicate their circularity performance.” 20220725 Bureau Veritas circular economy certification.pdf 11:10:00 Nuova_Palazzina_110x150.1533218221.jpg See the press release Nuova_Palazzina_110x150.1533218221.jpg

2022-06-30 With the acquisition of 70% of this long-standing company based in the Marche region, the Hera Group subsidiary expects a 10% increase in turnover and a 5% rise in Ebitda, when in full force. 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. 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. With this additional transaction, the Hera Group has strengthened its national leadership in the waste management sector, thus making its state-of-the-art set of plants, as well as an all-round service for special waste, available to local companies who were previously customers of Macero Maceratese. 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. This acquisition, which follows up on the transactions carried out in recent years by the Hera Group (including Waste Recycling, Teseco and Pistoia Ambiente in Tuscany, as well as Geo Nova and Aliplast in Treviso, Recycla in Friuli, the Vallortigara Group in Vicenza and a 31% stake in SEA in the Marche region), represents a new step along Hera’s path of continuous growth, which aims to provide companies with efficient, cutting-edge and competitive solutions in terms of costs and sustainability in the circular economy. 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. “With this acquisition, we are continuing our significant strategic growth in the industrial waste sector and further strengthening our leadership in the waste management sector. The entry of this Macerata-based company into our Group and the synergies between these new platforms and our current set of plants will increase the number of our close-at-hand solutions in the areas served, improving the efficiency and quality of services to local businesses with positive returns on the areas served and economic benefits for customers”, comments Tomaso Tommasi di Vignano, Executive Chairman of the Hera Group. “With the authorisations and facilities of this historic company based in Macerata, and above all thanks to its know-how and expertise, Marche Multiservizi will be able to provide local businesses in the provinces of Macerata, Ascoli, Fermo and Pesaro and Urbino with a complete service, in particular concerning collection, transport and disposal of hazardous and non-hazardous special waste, confirming the strong roots of our multi-utility in this area”, adds Mauro Tiviroli, CEO of Marche Multiservizi. 20220630 Marche Multiservizi acquisisce Macero Maceratese_eng.pdf 10:52:00 Nuova_Palazzina_110x150.1533218221.jpg See the press release Nuova_Palazzina_110x150.1533218221.jpg

2022-06-15 For the second year in a row, the Group leads the overall ranking in the index measuring the degree to which ESG factors are integrated within corporate governance. Hera is the foremost company in Italy for the importance of sustainability policies, fully and consciously incorporated within its 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 today in Milan at the ESG Business Conference. “We are very pleased with this recognition”, remarks the Hera Group’s Executive Chairman, Tomaso Tommasi di Vignano, “since it rewards the attention we have always paid to governance, which has been the key to face successfully the challenges in all these years. This has not only led us to increase by six times the Group’s capitalisation, but also to undergo processes of profound changes and transformation, always guaranteeing strategic consistency and ever-growing results to the benefit of all our stakeholders.” Sustainability at the heart of Hera’s strategies Ever since its foundation, sustainability has been at the core of Hera’s 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 the company’s activities and represent a strategic asset in all respects. The Group’s 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 the Group’s Articles of Association. The central role played by creating shared value also becomes clear in the Group’s 2021 Sustainability Report, which for the first time reports on activities consistent with the European Union taxonomy, ahead of the regulatory obligation that will only come into force in 2023. Lastly, as far as sustainable finance is concerned and in line with the growing interest shown by investors in ESG factors, Hera – the first company in Italy to issue a “green” bond in 2014 – recently successfully launched its third green bond, offering the market the possibility to invest in the Group’s activities that comply with the criteria in the European Taxonomy. The Group has also published a new Green Financing Framework (GFF), certified by an independent company and already aligned with the Taxonomy. 20220615 PR IGI 2022 HERA Group.pdf 14:12:00 Logo IGI 2022 - vert.jpg See the press release Logo IGI 2022 - vert.jpg

2022-06-08 The Hera Group subsidiary is among the first public lighting companies in Italy to include in its articles of association a commitment to produce benefits for its stakeholders, demonstrating Hera’s focus on sustainable development and creating value for the local areas and communities served At a time when the climate emergency and social demands are current issues, the Hera Group has further strengthened its twenty-year commitment to sustainable development and creating value for the local areas and communities it serves. It has done so by transforming Group subsidiary Hera Luce, one of the nation’s foremost operators in the public lighting sector and a leader in sustainable city lighting services with energy efficiency and circular economy solutions, into a Benefit Corporation. This is not, however, a true revolution for the Bologna-based company, but rather a further step along the path taken by the Hera Group last year, when it introduced the concept of “corporate purpose” into its Articles of Association. One of the first companies in Italy to do so, Hera thus made explicit the objectives it aims to achieve in carrying out its business activities and reaffirmed the focus on sustainability that has characterised it since its establishment. Hera Luce’s Shareholders Meeting approved the transformation of this company into a Benefit Corporation (pursuant to and in accordance with Law no. 208 of 28 December 2015) by amending article 3 of its Articles of Association, which now includes the aim of “operating responsibly, sustainably and transparently towards people, communities, local areas and the environment as well as cultural, social resources and activities, authorities, associations and other stakeholders”. Hera Luce made this choice on a voluntary basis, one of the first in Italy in the public lighting sector to take this initiative: thanks to this change in its articles of association, transparency and benefits for stakeholders have definitively become part of its corporate DNA. Three specific purposes are involved in the shared benefit that Hera Luce intends to pursue: contributing to the prosperity of the local communities in which the company operates, by designing and implementing sustainable, resilient and innovative models for urban development, to approach interventions on cities (Hera Luce for smart circular city/land); pursuing carbon neutrality, by acting through interventions aimed at energy efficiency and the energy transition towards renewable sources; leading the transition towards a circular economy model through means including measuring circularity from a lifecycle perspective. These are specific goals related to environmental issues, energy efficiency and transition as well as the circular economy. This Hera Group subsidiary aims to achieve them by ensuring the best working conditions for its own employees and those of its suppliers, and by promoting public-private collaboration in a multi-stakeholder approach. By becoming a Benefit Corporation, in compliance with current legislation, Hera Luce will be required to draw up an annual report on its pursuit of shared benefits, to be attached to the company’s financial statements, which will be published on Hera Luce’s website. “At Hera, we are aware that we have a great responsibility towards the local areas in which we operate”, states Tomaso Tommasi di Vignano, Executive Chairman of the Hera Group. “In our twenty years of activity, the Hera Group has placed the sustainable development of its businesses and the communities it serves at the centre of its strategy, always putting the generation of value at the heart of its relationship with all stakeholders served by the company, first and foremost its own employees, and extending it to institutions, local communities, shareholders, customers and suppliers. The transformation of our subsidiary Hera Luce into a Benefit Corporation reinforces our Group’s commitment to balanced and sustainable development through concrete and innovative projects for the energy transition, circular economy and technological evolution.” “This is a very important goal, that comes on top of the certification of the Material Circularity Report we obtained at the beginning of this year”, explains Alessandro Battistini, General Manager of Hera Luce. “Becoming a Benefit Corporation represents a commitment and a responsibility of which we are deeply aware. For Hera Luce, projects have always been characterised by their value in social and environmental terms, as well as their transparency. This choice represents a further step towards concretely achieving the model of corporate sustainability required by the market.” Legally introduced in Italy in 2016, Benefit Corporations represent an evolution of the concept of a company, with a view to sustainability and common benefit. They are, in fact, companies that decide to integrate within their corporate purpose, in addition to the objectives of profit and profit sharing, the aim of having a positive impact on society and the biosphere. 20220608_Hera Luce becomes benefit corporation FINAL.pdf 11:26:00 Economia circolare 2.jpg See the press release Economia circolare 2.jpg