Press releases

2019-07-30 GH_ASCOPIAVE_870.1565010551.jpg Energy partnership between Hera and Ascopiave in the North-East gets the green light Today, the Boards of Directors of Hera S.p.A. and Ascopiave S.p.A., the latter based on the favourable opinion of its committee of independent administrators, following the binding agreement signed this last June 17th and in full compliance with the timescales indicated therein, resolved to sign the framework agreement that will launch this commercial partnership through the joint venture EstEnergy aimed at developing an energy sector leader in the North-East with over one million customers, while at the same time restructuring the two partners' respective gas distribution activities. As already announced on June 17th, on the occasion of the signing of the binding term sheet, the operation involves exchanging assets of equal value between Hera and Ascopiave, considered strategic for the development of the two companies in the fields of both energy sales and gas distribution, in keeping with the strategic objectives of the two groups. On the commercial energy front, a single operator will be created to handle the respective commercial activities in the regions of Veneto, Friuli-Venezia Giulia and Lombardy, through EstEnergy S.p.a., already jointly controlled by Ascopiave S.p.a. and Hera Comm S.r.l., which will thus hold approximately 795,000 gas contracts and approximately 265,000 electrical contracts, bringing it over the threshold of one million contracts. EstEnergy, when fully operational, will have a consolidated EBITDA of approximately € 69 million - on a 2018 basis and excluding the participation of companies held with minority interests. 52% of EstEnergy's share capital will be held by the Hera Group and 48% by Ascopiave. In addition, on the closing date Ascopiave will acquire a 3% stake in the capital of Hera Comm, acquiring the right to appoint a member of the Board of Directors; while Hera Comm will directly acquire 100% of the capital of Amgas Blu, a company operating in the province of Foggia. The reorganisation of gas distribution activities, on the other hand, will involve Ascopiave purchasing from the Hera Group a series of concessions covering 188,000 users in Veneto and Friuli-Venezia Giulia. As a result of this operation, the Ascopiave Group will directly manage approximately 775,000 users and over 12,000 km of network. Following the completion of due diligence activities, the economic elements of the operation have not changed with respect to what was already communicated on June 17th, and neither have the closing adjustment mechanisms or agreements defined for the governance and options for handling Ascopiave's shareholdings in EstEnergy and Hera Comm. The operation will be subject to the usual conditions established for this type of operation and to all the required notifications and approvals by the authorities and agencies in charge, as well as, with regard to the only shareholdings involved, to the non-exercise of the right of pre-emption and approval by the other shareholders in relation to the shareholdings held by Ascopiave S.p.a. in the joint ventures ASM Set S.r.l., Etra Energia S.r.l. and Sinergie Italiane S.r.l. in liquidation. The parties expect to finalise the transaction by December 31st 2019. Through this operation Ascopiave is carrying out a strategic repositioning plan, drawing up an agreement on commercial areas with a key player and consolidating its presence in the core business of gas distribution. The Hera Group, for its part, expects to reach the target of 3 million energy sales customers (3.2 million with reference to 31.12.2018) as established in the 2019-2022 business plan through these agreements with Ascopiave. Ascopiave is being assisted with the financial component of this operation by the Rothschild&Co. team and with the legal component by Bonelli Erede, while Hera is availing itself of Lazard and the Grimaldi firm. The Ascopiave Group operates in the natural gas sector, mainly in the segments of distribution and sale to end users. Thanks to its broad customer base and the quantity of gas sold, Ascopiave is currently one of the main operators in the industry at a national level. The Group owns concessions and direct assignments for the management of distribution activities in over 228 Towns, supplying the service to a market segment of 1.5 million inhabitants, through a distribution network which spreads over 10,000 kilometres. The sale of natural gas is performed through different companies, some under joint control. Overall, in 2018, the companies of the Group sold over 1 billion cubic metres of gas to end users. Ascopiave has been listed under the Star segment of Borsa Italiana since 12th December 2006. Hera Group is one of Italy's largest multi-utility providers working in environment (waste collection and treatment), energy (electricity and gas distribution and sale) and water (aqueduct, sewerage and purification) sectors. The Group employs over 9,000 people and works every day to meet the many and varied needs of over 4.4 million citizens. It serves over 350 local municipalities mainly in the Emilia-Romagna, Marche, Tuscany, Abruzzo, Veneto and Friuli-Venezia Giulia regions. Listed since 2003, on March 18th 2019 Hera shares were included in the FTSE MIB of Borsa Italiana. 20190730_comunicato_GruppoHera_Ascopiave_eng.1564510591.pdf 2019-07-30 23:38:46 Hera acquires 2.5% of Ascopiave's share capital from Amber

2019-07-30 Results for 1H 2019 A highly positive half-year, thanks to the organic growth achieved in all business areas. At the same time, intense activity in external development and an increase in the Group's set of plants will support further expansion as early as the second half-year, leading the targets included in the Business plan to be reached ahead of time. Hera BoD approves 1H 2019 results /group_eng/investor-relations/results-and-presentations/1h2020 /documents/1514726/4210501/Financial+report+as+at+30+June+2020.pdf/a5287bfa-a98e-420f-d73f-23e47c51a443?t=1604674186742 http://investornews.gruppohera.it/en/?n=66 /documents/1514726/4210501/Analyst+presentation+financial+results+as+a+30+June+2020.pdf/7b5a868c-d996-ebe1-629f-fde7749501b9?t=1600699756543 /documents/1514726/4210501/Financial+data+as+at+30+June+2020.xls/50fdccac-c5bc-dcab-9bf5-585bd6e4f4d2?t=1600699670816 /documents/1514726/4210501/Audioconference+financial+results+as+at+30+June+2020.mp3/a1c5bc2b-6a0e-1690-6cf5-66d1ac58cdf7?t=1600699652407 First Half 2019 report in HTML format Financial Report as at 30 June 2019 Newsletter: H1 2019 Analyst presentation: H1 2019 Financial data as at 30 June 2019 Audioconference H1 2019 Financial highlights Revenues at 3,371.6 million euro (+13.6%) Ebitda at 545.9 million euro (+4.3%) Net profit at 173.9 million euro (+7.1%) Net debt at 2,685.2 million euro Operating highlights Excellent contribution from all business areas Growth mainly internal, generally in free market activities Further increase in energy customers, now above 2.6 million Today, the Hera Group’s Board of Directors, chaired by Tomaso Tommasi di Vignano, unanimously approved the consolidated economic results at 30 June 2019, which confirm the multi-utility’s positive trend, with indicators rising in all business areas: gas, water cycle, waste management and electricity. An excellent contribution came from internal growth, both in free market activities – which benefitted from an increase in energy customers, now 2.6 million, and from further expansion in waste treatment – and in regulated activities, above all the water sector. The first six months saw acquisitions including the company ATR in gas distribution and CMV Energia e Impianti’s energy sales activities, both operating in the Ferrara area and both acquired in March, as well as Cosea Ambiente, acquired in May with the concession of the Cosea Consorzio landfill, located in the Tuscan-Emilian Apennine area, assigned as of the second half of 2019. The effects of additional M&A transactions are expected to arrive in the second half of the year, along with constantly increasing waste treatment capacity, thanks to the new waste treatment plants coming from Pistoia Ambiente in Tuscany and Cordenons in Friuli-Venezia Giulia. Furthermore, work on formalising the definitive agreement with Ascopiave is ongoing, as set out in the binding Term Sheet signed on 17 June and respecting its timeline. Overall, the half-year results confirm the Group’s winning strategy, based on a business model that balances regulated and free-market activities, and brings internal growth together with attention towards the opportunities in external growth offered by the market. Revenues increase to almost 3.4 billion euro In the first half of 2019, revenues came to 3,371.6 million euro, up 404.9 million (+13.6%) over the 2,966.7 million seen in the same period of 2018. This result was reached above all thanks to growth in revenues for trading and higher revenues and higher volumes in gas and electricity sales. The remaining growth was due to higher revenues in electricity generation and waste treatment. Ebitda rises to 545.9 million euro Ebitda settled at 545.9 million euro, increasing by 22.3 million (+4.3%) over the 523.6 million recorded at 30 June 2018. This result is particularly remarkable considering the 22 million euro drop in Ebitda coming from last resort markets, and the growth ensued from the good performances in all Group activities, in particular the water cycle and gas. Positive results also came from the electricity, waste management and other services areas, including public lighting. Operating result and pre-tax profits show growth Operating profits increased to 288.9 million euro, up 15.3 million (+5.6%) over the 273.6 million seen one year earlier. Financial operations came to 44.9 million euro, owing to lower non-recurring income and lower profits from affiliated companies and joint ventures, as well as the application of international accounting standard IFRS16 on operating leases. Pre-tax profit grew by 9.6 million (+4.1%), going from 234.4 million euro in the first half of 2018 to 244.0 million euro at 30 June 2019. Net result rises to 173.9 million euro (+7.1%) The net profit at 30 June 2019 rose to 173.9 million, with growth coming to 11.5 million (+7.1%) over the 162.4 million recorded at the same date one year earlier, without the non-recurring effects coming from the transfer of Medea to Italgas in April 2018. This result is due to factors including a further improvement in the tax rate, which went from 30.1% to 28.7%, thanks to the Group’s continuous commitment towards investing in assets moving towards technological and digital transformation and utility 4.0, which benefitted from “super and iper” amortisations, alongside additional incentives and tax credits. Profits pertaining to Group shareholders amounted to 166.2 million euro, with an 8.1 million (+5.1%) increase over the 158.1 million recorded in the first half of 2018. Almost 215 million in investments, and financial position stable In the first six months of 2019, the Group’s operating investments, including capital grants, amounted to 214.6 million euro, up 30.8 million (+16.8%) over the 183.8 million seen in June 2018, and mainly went to interventions on plants, networks and infrastructures, in addition to regulatory upgrading above all in gas distribution, with an intensive meter substitution, and the purification and sewerage areas. The Group’s financial solidity is confirmed by the net debt/Ebitda ratio, which in the first half of 2019 settled at 2.55x, improving compared to both the 2.62x seen at 30 June 2018 and the 2.74x recorded at the same date in 2017. Further confirmation comes from the Roe and Roi indicators, which respectively came to 10.2% and 9.5%. Net debt remained stable, thanks to a cash generation that entirely financed investments and the yearly dividend payment. Net debt closed at 2,685.2 million at 30 June 2019, up 100 million compared to the 2,585.6 million recorded at 31 December 2018, exclusively due to the new accounting standard IFRS16 on leasing contracts. Gas Ebitda for the gas area, which includes services in natural gas distribution and sales, district heating and heat management, reached 195.6 million euro in the first half of 2019, improving over the 188.4 million seen at 30 June 2018 (+3.8%). This growth is essentially due to higher volumes sold, due to increases in the scope of operations, and better results in default and last resort supply services. Customers, now totalling almost 1.5 million, rose by 4% over the first half of 2018, for reasons including the higher number of default and last resort supply tenders awarded, as well as the effectiveness of marketing programs. The gas area accounted for 35.8% of Group Ebitda. Water cycle In the first half of 2019, the integrated water cycle area, which includes aqueduct, purification and sewerage services, recorded Ebitda amounting to 122.8 million euro, up 8.8% over the 112.8 million euro seen one year earlier, mainly owing to higher revenues from supply and new connections, as well as operating efficiencies. As was the case one year earlier, these results benefitted from the bonuses awarded by the Authority for high service standards. The integrated water cycle accounted for 22.5% of Group Ebitda. Waste In the first half of 2019, Ebitdafor the waste management area, which includes waste collection, treatment and disposal services, settled at 126.3 million euro, in line (+0.3%) with the 125.9 million recorded at 30 June 2018. This result benefitted from the launch of the new Sant’Agata Bolognese (BO) biomethane production plant, fully operational as of October 2018; the expansion and full integration within the Group of Aliplast, a national and international leader in plastic recycling and regeneration according to the model of a circular economy; and the positive trend in prices for special waste treatment seen across all European markets. These positive growth factors more than offset the limited availability of some of the Group’s waste-to-energy plants, undergoing both regular and non-recurring maintenance, and the more general lack of landfills affecting Italy and other large European countries. Sorted waste went from 59.8% in the first half of 2018 to 63.4% in the same period of 2019, up 3.6 percentage points. The waste management area accounted for 23.1% of Group Ebitda. Electricity Ebitda for the electricity area, which includes services in electricity generation, distribution and sales, went from 84 million in the first half of 2018 to 86.3 million at 30 June 2019, rising by 2.8%. This result only partially reflects the higher revenues coming from electricity generation, secondary services and volumes sold compared to the previous year, which proved able to more than offset the lower revenues coming from the safeguarded market. A significant increase in customers, which now reach over 1.1 million, up 134.5 thousand (+13.3%) over 30 June 2018, thanks in particular to expansion in the free market and reinforced marketing initiatives, above all in Central Italy. The electricity area accounted for 15.8% of Group Ebitda. Significant transactions in the waste management area: the Cordenons and Serravalle Pistoiese plants The waste management area saw important events recently, whose effects will be felt in the second half of the year. The Hera Group, the nation’s leader in the waste management sector with over 6 million tons of waste treated each year, thanks to investments totalling over 60 million euro has further enlarged its set of plants, which already includes around ninety structures nationwide. In particular, on 29 June a new plant was inaugurated in Cordenons (PN) for non-dangerous special waste treatment, and on 17 July Pistoia Ambiente was acquired, which manages the Serravalle Pistoiese (PT) landfill and the associated liquid waste treatment plant. Both are located in strategic positions that allow the Group to additionally reinforce its activities in industrial waste treatment and environmental services for businesses. These transactions, along with the fully operational status of the new Sant’Agata Bolognese biomethane production plant, built with investments coming to 37 million euro, provide a concrete response to the country’s overall lack of plants, which in many cases leads waste to be exported, causing increased costs especially for businesses. Furthermore, Hera can now rely on increased plant capacity in waste treatment (coming to an additional 2.4 million tons, considering the enlargement of the Ravenna landfill as well), which will allow it to continue pursuing its plans for expansion over the years in markets characterised by increasing demand and higher prices. Statement by Executive ChairmanTomaso Tommasi di Vignano “These half-year results confirm the Hera Group’s trend of uninterrupted growth and fully respect its track record, thanks to organic growth and the numerous projects implemented in internal and external development. The increase in Ebitda, the profits gained and the attentive management of financial operations allowed the Group to fully cover both investments and annual dividend payments to our Shareholders, which rose to 10 cents per share (+5.3%). The further increase in waste treatment plants managed and the joint venture with Ascopiave in the energy sector, currently being formalised, will allow us to implement plans for growth as early as the second half of 2019 on the one hand, and on the other to expand in the Triveneto area, strategically important for a further development of the Group’s activities, already ensuring at present, after only 18 months, 60% of the growth in Ebitda foreseen within 2022 by the Business plan.” Statement by CEO Stefano Venier “The results for the first half of 2019 confirm the solid financial management that has allowed the Group to maintain stability in both debt and the net debt/Ebitda ratio, which now comes to 2.55x, providing evidence of its high financial flexibility. The debt profile has also improved, thanks to the placement, on 26 June, of our second green bond, amounting to 500 million euro, intended for projects in environmental sustainability. This has allowed us to grasp available M&A opportunities and confirm our leadership through further consolidation in the markets, still fragmentary, in which all of our businesses operate. One factor that cannot be overlooked, in continuing to pursue our strategy of growth, is the attention given to sustainability, which for us is a true business lever, and the principles underlying a circular economy, in order to continue creating shared value for all our stakeholders.” The manager responsible for drafting the company’s accounting statements, Luca Moroni, 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 half-year financial report and related materials will be made available to the public pursuant to the terms established by law at Company Headquarters, on the website www.gruppohera.it and on the authorised storage platform 1Info (www.1info.it). Unaudited extracts from the Abbreviated Consolidated Half-Year Financial Statements at 30 June 2019 are attached. Profit & Loss (m€) 30/06/2019 Inc.% 30/06/2018 Inc.% Ch. Ch. % Sales 3.371,60 2.966,70 404,9 13,60% Other operating revenues 249 7,40% 209,8 7,10% 39,2 18,70% Raw material -1.699,20 -50,40% -1.327,60 -44,70% 371,6 28,00% Services costs -1.075,10 -31,90% -1.031,60 -34,80% 43,5 4,20% Other operating expenses -29,8 -0,90% -30,3 -1,00% -0,5 -1,70% Personnel costs -286,6 -8,50% -281,7 -9,50% 4,9 1,70% Capitalisations 16 0,50% 18,3 0,60% -2,3 -12,60% Ebitda 545,9 16,20% 523,6 17,60% 22,3 4,30% Depreciation and provisions -257 -7,60% -250 -8,40% 7 2,80% Ebit 288,9 8,60% 273,6 9,20% 15,3 5,60% Financial inc./(exp.) -44,9 -1,30% -39,2 -1,30% 5,7 14,50% Pre tax profit 244 7,20% 234,4 7,90% 9,6 4,10% Tax -70,1 -2,10% -72 -2,40% -1,9 -2,60% Net profit 173,9 5,20% 162,4 5,50% 11,5 7,10% Special items - 0,00% 4,8 0,20% -4,8 -100,00% Net profit 173,9 5,20% 167,2 5,60% 6,7 4,00% Attributable to: Shareholders of the Parent Company 166,2 4,90% 158,1 5,30% 8,1 5,10% Minority shareholders 7,7 0,20% 9,1 0,30% -1,4 -15,40% Balance Sheet (m€) 30/06/2019 Inc.% 31/12/2018 Inc.% Ch. Ch. % Net fixed assets 6.064,10 109,80% 5.905,10 108,70% 159 2,70% Working capital 59,8 1,10% 115,4 2,10% -55,6 -48,20% (Provisions) -599,9 -10,90% -588,2 -10,80% -11,7 2,00% Net invested capital 5.524,00 100,00% 5.432,30 100,00% 91,7 1,70% Net equity 2.838,80 51,40% 2.846,70 52,40% -7,9 -0,30% Long term net financial debt 2.754,30 49,90% 2.558,80 47,10% 195,5 7,60% Short term net financial debt -69,1 -1,30% 26,8 0,50% -95,9 -357,80% Net financial debts 2.685,20 48,60% 2.585,60 47,60% 99,6 3,90% Net invested capital 5.524,00 100,00% 5.432,3 100,00% 91,7 1,70% Results for 1H 2019 Press release results for 1H 2019 2017-05-08 13:31:53 Related contents Il Gruppo Hera approva i risultati al 31/03/2019

2019-07-05 Repurchase and cancellation of certain notes Following the press releases dated 19 June 2019 and 2 July 2019, notice is hereby given that as at the date hereof Hera S.p.A. (the "Company") repurchased some of the €500,000,000 3.25 per cent. Notes due 4 October 2021 (Codice ISIN: XS0976307040) (the "2021 Notes") and of the €500,000,000 2.375 per cent. Notes due 4 July 2024 (Codice ISIN: XS1084043451) (the "2024 Notes" and, together with the 2021 Notes, the "Existing Notes"), previously subject to the tender offer launched by BNP Paribas S.A. as offeror (the "Offeror") on 19 June 2019 pursuant to the agreements entered into with the Company, settled on 1 July 2019 (the "Offer"). Following the repurchase, the Company requested the cancellation of the portion of Existing Notes so repurchased. Denomination ISIN Notes tendered for purchase Notes accepted by the Offeror Outstanding Principal Amount €500,000,000 3.25 per cent. Notes due 4 October 2021 XS0976307040 39,994,000 39,994,000 249,855,000 €500,000,000 2.375 per cent. Notes due 4 July 2024 XS1084043451 170,610,000 170,610,000 329,390,000 CS_HERA_Repurchase_and_cancellation_Press_Release.1562340635.pdf 2019-07-05 17:08:00 2020 Integrated Governance Index: Hera once again ranked at the top of sustainable finance

2019-07-05 Borsa Italiana welcomes Hera S.p.A.'s new bond to the green & social segment of ExtraMOT PRO New Hera S.p.A. 500 million euro green bond listed on the ExtraMOT PRO segment This green bond hasa 0.875% coupon rate and a 1.084% rate of return The funds raised will finance projects involving energy efficiency, circular economy, sustainable waste management and water infrastructures Today, Borsa Italiana welcomes Hera S.p.A.'s new green bond to the segment dedicated to green and/or social bonds of the ExtraMOT PRO. This is the second green bond issued on Borsa Italiana's markets by Hera, an Italian multi-utility specialised in providing energy, water and environmental services. The issue has a nominal value of 500 million euro, repayable over 8 years, with a coupon rate set at 0.875% and a rate of return coming to 1.084%. The funds raised will be used to finance or refinance numerous projects, already ongoing or included in the Business plan to 2022, that seek to meet one or more of the goals on the UN's 2030 Agenda, in areas including energy efficiency, circular economy, sustainable waste management and water infrastructures. The bond has been included in the segment of Borsa Italiana's ExtraMOT PRO dedicated to green and/or social bonds, created to allow institutional and retail investors to identify the instruments whose return is destined to finance projects with special environmental and/or social benefits or impacts. With Hera S.p.A.'s new bond, the list of bonds oriented towards sustainable development on Borsa Italiana's bond markets increases by yet another corporate issue, reaching 83 financial instruments listed since the segment was created. Pietro Poletto, Head of Borsa Italiana's bond markets, commented: "The sustainable investment market continues to display strong dynamism and constant growth. The increasing attention shown by investors worldwide towards ESG issues, as defined by their own investment policies, confirms Borsa Italiana's winning strategic choice of dedicating a specific segment to green and social bonds, within the range of bonds we offer. Indeed, Borsa Italiana plays an active role in promoting sustainable finance, and has included among its institutional goals its wish to make a concrete contribution towards promoting a financial culture increasingly built around a circular economy. We believe in developing a sustainable market, thanks to issuers such as Hera, who have sensed and embraced the values involved in ESG matters, as is demonstrated by the issue of their second green bond listed on our market". Stefano Venier, Hera's CEO, stated: "Green, or ESG financial instruments are a fundamental lever used to sustain the Hera Group's commitment towards acting on a business model that is increasingly regenerative and resilient. Able to meet the goals contained in the UN's 2030 Agenda, this model will also respond to the many challenges currently facing us, first and foremost climate change, that require innovative solutions and long-term investments. The green bond that we have issued fully respects these standards and aims". PressRelease_Borsa_Italiana_ExtraMOT_PRO_eng.1562333432.pdf 2019-07-05 15:32:00 Borsa Italiana welcomes Hera S.p.A.'s new bond to the green & social segment of ExtraMOT PRO

2019-07-03 (drafted pursuant to article 85-bis, paragraph 4-bis, of Consob Regulation 11971 / 14 May 1999) Communication of the overall amount of voting rights Bologna, 3 July 2019 - The following table contains the data concerning the shares outstanding and the number of voting rights representing the share capital at 30 June 2019. 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 2,266,332,400 1,489,538,745 2,261,322,400 Ordinary shares (regular dividend rights: 01.01.2019) - cod. ISIN IT0001250932 Current coupon: n. 18 712,745,090 712,745,090 717,755,090 717,755,090 Ordinary shares with increased voting rights (regular dividend rights: 01.01.2019) - cod. ISIN IT0005159972 Current coupon: n. 18 776,793,655 1,553,587,310 771,783,655 1,543,567,310 20190703_Hera_comunicazione_ammontare_complessivo_diritti_di_voto_ENG.1562164016.pdf 2019-07-03 16:03:00 2020 Integrated Governance Index: Hera once again ranked at the top of sustainable finance

2019-07-02 Final results of the tender offer relating to certain notes Following the press release dated 19 June 2019, notice is hereby given that on 1 July 2019 BNP Paribas S.A. announced the final results of the tender offer launched by it, in its capacity as offeror (the "Offeror"), on 19 June 2019 pursuant to the agreements entered into with Hera S.p.A. (the "Company"), addressed to qualified investors only and relating to (i) the"€500,000,000 3.25 per cent. Notes due 4 October 2021" issued by the Company (ISIN Code XS0976307040) (the "2021 Notes") and (ii) the "€500,000,000 2.375 per cent. Notes due 4 July 2024" (ISIN Code XS1084043451) (the "2024 Notes", and, together with the 2019 Notes, the "Existing Notes") (the "Tender Offer"). The Existing Notes validly tendered for purchase pursuant to the Tender Offer are equal to Euro 210,604,000, split as follows: Euro 39,994,000 in principal amount of 2021 Notes and Euro 170,610,000 in principal amount of 2024 Notes. The Offeror has announced its intention to accept for purchase all the Existing Notes validly tendered pursuant to the Tender Offer, equal to Euro 210,604,000. The payments due pursuant to the Tender Offer were settled on 1 July 2019. 20190702_Gruppo_Hera_esito_tender_offer_ENG.1562059640.pdf 2019-07-02 11:04:00 Borsa Italiana welcomes Hera S.p.A.'s new bond to the green & social segment of ExtraMOT PRO

2019-06-26 Strong interest shown by international investors for the multi-utility's second "green" bond, which will finance environmental sustainability projects in 3 areas: energy efficiency, circular economy and sustainable water resource management. Subscriptions have reached seven times the amount offered. Hera: new 500 m€ green bond Strong interest shown by international investors for the multi-utility's second "green" bond, which will finance environmental sustainability projects in 3 areas: energy efficiency, circular economy and sustainable water resource management. Subscriptions have reached seven times the amount offered. The Hera Group aims to continue in its role as a reference point for sustainable finance in Italy and, five years after issuing the country's first "green" bond, it is now launching its second. The bond is being announced at the end of a road show in Europe's main financial centres, aimed at illustrating the structure of the transaction to investors and analysts, in addition to the way in which the resources will be allocated, i.e. by investing in environmental sustainability projects in the waste, water and energy sectors. Considering that it also launched Italy's first ESG-linked revolving line of credit last year, Hera is carrying on with its activity in identifying and implementing innovative instruments. The latter are indeed able to valorise the company's commitment and the results it has reached hereto in this area, along with its future investment policies, thus meeting the market's growing attention towards this sort of endeavour. The characteristics of the new green bond and the projects financed The second green bond issued by the Hera Group (Moody's rating Baa2 with stable outlook and Standard & Poor's rating BBB with positive outlook) amounts to 500 million euro overall, repayable over 8 years with a 0.875% coupon and a 1.084% return. The date of payment for the newly issued bond has been set at 5 July 2019. Furthermore, the new green bond is expected to have the same rating as the Hera Group. A strong demand, coming to seven times the amount offered, and the quality of the orders received have allowed the price to be fixed at an excellent level. The transaction has seen significant participation from international investors (France, Germany, United Kingdom and Holland), most of whom follow green and sustainable criteria. The bond is expected to be listed on the Irish Stock Exchange and the Luxembourg Stock Exchange's regulated markets, and on Borsa Italiana's ExtraMOT PRO. The funds will be used to finance or refinance numerous projects, already implemented or included in the Business plan to 2022, that pursue one or more of the goals in the UN's 2030 Agenda. These projects have been subdivided into 3 areas: energy efficiency (in line with SDGs 7 and 13): from installing smart metres to developing district heating networks and projects in the area of public lighting; circular economy and sustainable waste management (responding to SDG 12): innovative projects in the waste collection systems, further use of unit pricing, creating plants and structures for recycling, recovering and reusing materials, plants for biological/chemical waste treatment and plants for transforming waste into energy, similar to the Sant'Agata Bolognese (BO) biomethane production plant; water infrastructures (meeting SDGs 6 and 14): waste water management projects, sewerage and water infrastructures furthering resilience and adaptation to climate change. In order to guarantee that the funds are correctly and transparently allocated, Hera has introduced a monitoring and reporting process. The amount actually dedicated to each intervention will be published in the Group's Sustainability Report, along with data concerning the environmental performances reached. "Green Financing Framework": Hera transparent in sustainability as well The Hera Group, furthermore, is among the first companies in Europe to have provided itself with a "Green Financing Framework" (GFF). The GFF is a particularly innovative programming document, in line with "Green Bond Principles", that covers not only aspects linked to issuing the green bond, but also sustainable loans and other ESG instruments on the market. The GFF is accompanied by a "Second Party Opinion", drafted by ISS-oekom, which ranked Hera "Prime" in terms of ESG performance (sixth in a panel of 43 worldwide companies), in particular giving an excellent opinion of Hera's contribution to the water sector. Hera's partners in the transaction The Hera green bond issue was coordinated by BNP Paribas, Credit Agricole CIB, Mediobanca and UniCredit, acting as Joint Bookrunners, and BBVA, acting as Bookrunner. The law firm Legance provided Hera with assistance, while the law firm Linklaters assisted the Bookrunners. ISS-oekom is the world's leading rating firm in the field of responsible investment. Based in Rockville (US), it has branches in 30 countries, with over 2,000 institutional clients and 1,800 consultants. Statement by CEO Stefano Venier "Green, or ESG financial instruments are a fundamental lever used to sustain the Hera Group's commitment towards acting on a business model that is increasingly regenerative and resilient. Able to meet the goals contained in the UN's 2030 Agenda, this model will also respond to the many challenges currently facing us, first and foremost climate change, that require innovative solutions and long-term investments. The green bond we are issuing today fully respects these standards and aims". 20190626_CS_Nuovo_green_bond_Hera_final_eng.1561565392.pdf 2019-06-26 17:43:00 2020 Integrated Governance Index: Hera once again ranked at the top of sustainable finance

2019-06-19 The BoD of Hera S.p.A. authorises the issue of new notes and the refinancing of certain notes 1 For information purposes only, the purchase price for the 2021 Notes will, when determined in the manner described herein on the basis of a Settlement Date of 1 July 2019, be 107.704 per cent. Should the Settlement Date in respect of the 2021 Notes accepted for purchase pursuant to the Offer differ from 1 July 2019, the relevant purchase price will be recalculated, all as further described herein. If the aggregate principal amount of the Existing Notes validly tendered for purchase pursuant to the Tender Offer is greater than the amount of the Existing Notes that the Offeror intends to purchase, the Offeror will accept the relevant tenders on a pro rata basis. The Tender Offer, which starts today, will expire on 26 June 2019, subject to the right of the Offeror to extend, re-open, amend and/or terminate it. The settlement date for the Tender Offer is expected to fall on 1 July 2019. Further information on the terms and conditions of the Tender Offer are set out in the Tender Offer Memorandum. Simultaneously with, by separately from, the Tender Offer, the Company may also consider, at its sole discretion, to purchase, through the Offeror, in whole or in part, one or more series of the following series of notes issued by the Company and privately placed to a limited number of investors: (i) €32,000,000 3.5 per cent. Fixed Rate Notes due 22 May 2025 (ISIN Code: XS0935947977); (ii) €30,000,000 5.25 per cent. Fixed Rate Notes due 14 May 2027 (Namesschuldverschreibung); and (iii) €30,000,000 5.25 per cent. Fixed Rate Notes due 14 May 2027 (ISIN Code: XS0782473556). This notice does not constitute an invitation to participate in the Tender Offer in any jurisdiction in which, or to any person to whom, it is unlawful to make such invitation or for there to be such participation under applicable securities laws and regulations. The distribution of this notice or the Tender Offer Memorandum in certain jurisdictions may be restricted by law and regulations. Persons into whose possession this notice comes are required to inform themselves about, and to observe, any such restrictions. Specific restrictions are included in the Tender Offer Memorandum. 20190619_comunicato_Lancio_nuova_emissione_ENG.1560927472.pdf 2019-06-19 08:09:00 Hera acquires 2.5% of Ascopiave's share capital from Amber

2019-06-17 The business partnership, through the joint venture EstEnergy, involves over 1 million customers, with the new entity's overall value coming to 864.5 million euro and its Ebitda amounting to 69 million euro. With this transaction, the Hera Group reaches over 3 million energy customers. Ascopiave grows in gas distribution by 188,000 delivery points, becoming North-East Italy's leading operator with 775,000 delivery points managed and an added Ebitda amounting to 15.9 million euro. The Hera Group and Ascopiave: a large energy partnership in North-East Italy The business partnership, through the joint venture EstEnergy, involves over 1 million customers, with the new entity's overall value coming to 864.5 million euro and its Ebitda amounting to 69 million euro. With this transaction, the Hera Group reaches over 3 million energy customers. Ascopiave grows in gas distribution by 188,000 delivery points, becoming North-East Italy's leading operator with 775,000 delivery points managed and an added Ebitda amounting to 15.9 million euro. Today, the Boards of Directors of Hera S.p.a. and Ascopiave S.p.a. approved the signing of a binding Term Sheet intended to develop a major entity in areas of North-East Italy, which will be able to rely on over one million energy customers, while at the same time redefining their respective activities in gas distribution. The Term Sheet, which will be finalised by a framework agreement within 31 July 2019, defines the geographical areas involved, the economic terms of the agreement and related elements of governance. The agreement reached represents an important strategic transition in the evolution of the two Groups' activity portfolios and fully respects the strategic lines of development approved by the Boards of Directors of Hera S.p.a. and Ascopiave S.p.a., as communicated to investors. More specifically, as regards the gas and electricity marketing area, the agreement calls for a single operator to be created, bringing together the respective sales operations in the Veneto, Friuli Venezia Giulia and Lombardy regions, acting through EstEnergy S.p.a., a company currently jointly controlled by Ascopiave S.p.a. and Hera Comm S.r.l., the Hera Group's sales company. EstEnergy S.p.a.'s activities in the geographical areas indicated will be considerably increased, coming to include the Ascopiave Group's sales activities carried out by the subsidiaries Ascotrade S.p.a., Ascopiave Energie S.p.a. and Blue Meta S.p.a. as well as the joint ventures Asm Set S.r.l. (49%) and Etra Energia S.r.l. (51%), in addition to the liquidating Sinergie Italiane S.r.l. (30.94%) and the company Energia Base Trieste S.r.l. (92,000 contracts managed) and Hera Comm's Veneto and Friuli customers (96,000 gas contracts and 68,000 electricity contracts). A major operator rooted in the North-East will thus emerge with a portfolio totalling over 795,000 gas contracts and 265,000 electricity contracts, based on 31 December 2018 data, which considering the joint venture pro rata component amounts to over 1 million contracts. This new entity, which will take shape through EstEnergy, when fully operational, will have a consolidated Ebitda coming to roughly 69 m€, based on 2018 data, not including the contribution coming from owned companies with minority shareholdings. 52% of EstEnergy's share capital will be held by the Hera Group, and 48% by Ascopiave. The parties involved have disclosed that the overall equity value of the new EstEnergy amounts to 864.5 m€ (with a corresponding enterprise value of 797 m€), based on 31 December 2018 data, and may be subject to standard adjustments following the closing date; of this amount, 601 m€ (543 m€ enterprise value)pertains to sales activities originating from Ascopiave and 263 m€ to activities originating from HeraComm. In order to regulate the new EstEnergy's governance, a Shareholders Agreement will be signed that calls for a Board of Directors made up of 5 members - 3 appointed by Hera, who will also appoint the CEO, and 2 by Ascopiave, who will also appoint the Chairman and the Chairman of the Board of Auditors - and that furthermore includes standard clauses protecting a minority shareholder, a 7-year right of transfer that may be exercised annually, granted to Ascopiave and reaching its entire shareholding in Est Energy S.p.a. and a right of acquisition, granted to Hera Comm in the event that Ascopiave S.p.a. reaches a residual holding in Est Energy S.p.a. coming to less than or equal to 5% of the company's capital. In particular, the transfer option concerning the minority shareholding of EstEnergy may be exercised, wholly or in part, up to the seventh year from the closing date, at a price set at the higher amount between (i) the fair market value of the shareholding, calculated at the exercise date, and (ii) the value of the shareholding, revised by applying a 4% annual interest rate, net of the amount of dividends received and in any case not lower than the value of the shareholding itself. Furthermore, Amgas Blu, a sales company operating in the province of Foggia with roughly 50,000 customers, entirely owned by Ascopiave, will also be involved in the overall reorganisation of the gas and electricity customer marketing area. This company will be directly acquired by Hera Comm at a price coming to roughly 44 m€, including its financial position, once again with reference to 31 December 2018 data. At the closing date, Ascopiave will acquire a shareholding coming to roughly 3.6% of Hera Comm for the price of 65 m€, gaining the right to appoint one member of the company's Board of Directors. For this shareholding as well, a mechanism is expected to grant Ascopiave the right to transfer its shareholding in Hera Comm, extending over the same period of 7 years. As regards the reorganisation of gas distribution activities, instead, Ascopiave is expected to acquire, from the Hera Group, an area of concessions including 188,000 delivery points in the Veneto and Friuli Venezia Giulia regions, with an investment value amounting to 171 m€ and a proforma Ebitda coming to 15.9 m€, both defined by 31 December 2018 data. Through this transaction, the Ascopiave Group will serve roughly 775,000 users and manage over 12,000 km of network, thus becoming the largest operator in the Triveneto Region and consolidating its position in the national ranking. With this transaction, Ascopiave will proceed with its strategic repositioning plan, establishing a marketing agreement with a major player and reinforcing its presence in the core business of gas distribution. As regards the Hera Group, through these agreements with Ascopiave it will reach its target of 3 million energy customers (3.2, according to 31 December 2018 data) set in its business plan to 2022. This represents a further step along the path of growth in this area, that has seen the Group double its energy customer base over the last 10 years, by way of internal growth and M&As. The transaction, in addition to setting a deadline for the final agreement at 31 July 2019, will be subject to the standard conditions foreseen for this type of transaction and all communications and approvals given by authorities and responsible institutions, as well as, solely concerning the shareholdings in question, the consent of other shareholders in the case of Ascopiave S.p.a.'s shareholdings in the joint ventures ASM Set S.r.l., Etra Energia S.r.l. and the liquidating Sinergie Italiane S.r.l.. The parties involved expect the transaction to be concluded within 31 December 2019. Ascopiave is assisted in the transaction by the teams of Rothschild&Co., for the financial part, and by the Bonelli Erede studio, for the legal part, while Hera has called on Lazard and the Grimaldi studio. The Ascopiave Group operates in the natural gas sector, mainly in the segments of distribution and sale to end users. Thanks to its broad customer base and the quantity of gas sold, Ascopiave is currently one of the main operators in the industry at a national level. The Group owns concessions and direct assignments for the management of distribution activities in over 228 Towns, supplying the service to a market segment of 1.5 million inhabitants, through a distribution network which spreads over 10,000 kilometres. The sale of natural gas is performed through different companies, some under joint control. Overall, in 2018, the companies of the Group sold over 1 billion cubic metres of gas to end users. Ascopiave has been listed under the Star segment of Borsa Italiana since 12th December 2006. Hera Group is one of Italy's largest multi-utility providers working in environment (waste collection and treatment), energy (electricity and gas distribution and sale) and water (aqueduct, sewerage and purification) sectors. The Group employs over 9,000 people and works every day to meet the many and varied needs of over 4.4 million citizens. It serves over 350 local municipalities mainly in the Emilia-Romagna, Marche, Tuscany, Abruzzo, Veneto and Friuli-Venezia Giulia regions. Listed since 2003, on 18 March 2019 Hera shares have been included in the FTSE MIB of Borsa Italiana. 20190617_press_release_GruppoHera_Ascopiave_ENG_final.1560793161.pdf 2019-06-17 19:19:00 2020 Integrated Governance Index: Hera once again ranked at the top of sustainable finance

2019-06-10 TOP10_4_Hera_300.1560183835.png The Hera Group ranks fourth in the 2019 edition of the index that measures the integration of ESG factors within the strategies of Italy's main companies, and first, for the second consecutive year, in the area of sustainable finance. 2019 Integrated Governance Index The Hera Group has firmly maintained its excellent position among Italian companies who unite their own strategies with a commitment towards sustainability. Full confirmation of this has come from the 2019 edition of the Integrated Governance Index, an eminent model that analyses the degree to which ESG (Environmental, Social, Governance) factors are integrated within corporate strategies. These factors represent activities that, in addition to pursuing traditional business objectives, take social and environmental aspects into consideration. This year, the Hera Group came fourth in the overall IGI ranking, one position higher than in 2018, and was confirmed, for the second consecutive year, second to none in the special category dedicated to sustainable finance. This result shows once again the multi-utility's attention towards sustainability and the creation of shared value, two key factors in its strategy and top priority elements in defining its financial operations and investments. The Group's best practices Environmental, social and governance objectives have played a significant role in the Hera Group's strategic planning for some time now and contribute to defining its future path, in line with the UN's 2030 Agenda. Evidence of this can be seen in the Group's shared value Ebitda, i.e. the portion of overall Ebitda that derives from business activities able to meet these same goals, globally: in 2018 this indicator came to 375.2 million euro, or 36% of total Ebitda, with the aim - included in the Business plan - of rising to 40% by 2022. The Group's financial instruments also respect both this vision and the market's increasingly acute awareness of ESG issues. Hera has proven able to move within this framework ahead of time, interpreting ongoing changes and providing itself with innovative models which are attractive on the market. This is precisely why the Hera Group has been recognised, within the Italian scenario, as a reference point for new strategies in the area of sustainable finance. After being the first company in Italy to issue a green bond, in 2014, following the example given by other large corporations internationally, last May it introduced the first sustainable revolving line of credit, thanks to a system that offers bonuses for reaching specific environmental sustainability goals. The latter include, for example, a further reduction in the carbon footprint for energy production, new targets in energy efficiency and improvement in sorted waste, all areas in which the Group has been at the forefront for years, as is documented in its sustainability report. The 2019 Integrated Governance Index The Integrated Governance Index (IGI) is currently the only project that quantitatively evaluates the degree to which ESGs are integrated within corporate management (integrated governance). Developed by ETicaNews, with research and legal support provided by associations and specialised advisors, this year marks its fourth edition. In 2019, the IGI invited Italy's top 100 listed companies to participate, along with businesses that publish non-financial statements and the country's top 50 non-listed companies. The Index's overall analysis and ranking process is based on a survey containing 70 questions, subdivided into eight areas, with an additional area of research that changes each year (dedicated to "ESG and human capital" in 2019). 2019 Integrated Governance Index CS_20190610_IGI2019_eng.1560184159.pdf 2019-06-10 sinistra 15:55:00 Integrated Governance Index 2019

2019-06-05 (drafted pursuant to article 85-bis, paragraph 4-bis, of Consob Regulation 11971 / 14 May 1999) Bologna, 5 June 2019 - The following table contains the data concerning the shares outstanding and the number of voting rights representing the share capital at 31 May 2019. 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 2,261,322,400 1,489,538,745 2,261,329,400 Ordinary shares (regular dividend rights: 01.01.2018) - cod. ISIN IT0001250932 Current coupon: n. 17 717,755,090 717,755,090 717,748,090 717,748,090 Ordinary shares with increased voting rights (regular dividend rights: 01.01.2018) - cod. ISIN IT0005159972 Current coupon: n. 17 771,783,655 1,543,567,310 771,790,655 1,543,581,310 20190605_COMMUNICATION_OF_THE_OVERALL_AMOUNT_OF_VOTING_RIGHTS_art_85_bis_RE_eng.1559743880.pdf 2019-02-04 15:22:00 Hera SpA

2019-05-15 Results as at 31 March 2019 Consolidated 1Q report shows growing results and a positive contribution coming from all main business areas, in particular the water cycle and gas. Focus on sustainability and circular economy confirmed. /documents/1514726/4210695/GruppoHera_Consolidate_quarterly_report_as_at_31_March_2019.1557915124.pdf/31dd1b53-c44f-3516-add7-13f6c692d301?t=1597849550053 /documents/1514726/4210695/GruppoHera_Analyst_presentation_1Q2019.1557920950.pdf/65d853c3-56d3-3fc2-6473-718d22ce5506?t=1597849549649 http://investornews.gruppohera.it/en/?n=60 /documents/1514726/4210695/Dati_finanziari_ed_operativi_di_sintesi_1Q_2019_eng.1557820941.xls/62c8b86a-5153-9325-f0b7-b2a872128604?t=1597849548933 https://www.slideshare.net/Gruppo_Hera/analyst-presentation-q1-2019-146001380 /group_eng/investor-relations/results-and-presentations/interactive-data Financial results as at 31 March 2019 Analyst presentation: financial results as at 31 March 2019 Newsletter: financial results as at 31 March 2019 Financial data as at 31 March 2019 Slideshare Q1 2019 Interactive data Financial highlights Revenues at 1,940.4 million euro (+11.4%) Ebitda at 330.8 million euro (+2.5%) Net profit at 129.7 million euro (+3.0%) Net financial position at 2,622 million euro Operating highlights Good contribution to growth coming from all main business, above all the water cycle and gas Solid customer base in energy sectors, rising to approximately 2.6 million customers Today, the Hera Group’s Board of Directors, chaired by Tomaso Tommasi di Vignano, unanimously approved the Group’s consolidated economic results for the first quarter of 2019, which improved over the same period of the previous year, showing constant growth in all main indicators. The company’s winning multi-business strategy was thus confirmed, balanced as it is between regulated and free market activities, with high attention given to sustainability and a circular economy. The Hera Group, indeed, pursues this model through both internal and external growth, always prepared to grasp the opportunities offered by the market also thanks to the financial solidity. The Group’s path of 16 years of uninterrupted growth took a step further on 18 March 2019, when it was included in Borsa Italiana’s FTSE MIB index, which brings together the 40 companies with the highest capitalisation on the Italian stock exchange. In general, the results for the first quarter of 2019 benefited from the higher tariffs on regulated services introduced by the Authority’s updates, in addition to commercial expansion and the creation of efficiencies. Among the changes in the Group’s scope of operations compared to the first quarter of 2018, mention must go to Blu Ranton and Sangroservizi in Abruzzo, Megas Net in the Marche region and, as of March 1st 2019, the integration, in the Ferrara area, of the energy sales activities carried out by CMV Energia e Impianti and the natural gas distribution activities carried out by CMV Servizi, including the subsidiary company ATR. Furthermore, 9 May saw the formal acquisition of 100% of the shares of Cosea Ambiente, a company that manages urban and similar waste services owned by 20 municipalities in the Tuscan-Emilian Apennine. This operation also involved a ten-year concession for the Cosea Consorzio landfill in Gaggio Montano, effective as of the second quarter of 2019. Revenues reach 1.94 billion euro In the first quarter of 2019, revenues amounted to 1,940.4 million euro, rising compared to the 1,741.3 million seen in the same period of 2018. Contributions to this result came above all from growth in revenues from trading activities, power generation and waste treatment business, as well as higher revenues and higher volumes in gas and electricity sales. Ebitda rises to 330.8 million euro Ebitda went from 322.7 million euro in the first quarter of 2018 to 330.8 million at 31 March 2019, showing an 8.1 million increase (+2.5%). This growth is due to the good performances in all Group’s main areas, in particular the water cycle and gas. Improvement was also seen in the results from the waste management area and in other services, while the electricity area remained essentially stable. Operating results and pre-tax profits grow Net operating results also increased, coming to 205.0 million euro at 31 March 2019, up compared to the 197.6 million seen in the same period of 2018 (+3.7%). The change in financial operations came to 3.6 million euro, amounting to 21.1 million at the end of the first quarter, owing to lower dividends received and the application of accounting standard IFRS 16 on operating leases. Pre-tax profits grew by 2.1%, going from 180.1 million in the first quarter of 2018 to 183.9 million euro in the same period in 2019. Net profits up, settling at 129.7 million (+3.0%) Net profits for the first quarter of 2019 increased to 129.7 million euro, as compared to the 125.9 million recorded one year earlier (+3.0%). Profits pertaining to Group Shareholders, instead, came to 124.2 million euro, with a 3.1% growth over the 120.5 million seen in the same period of 2018. These results, considered alongside the improved tax rate (which came to 29.5%, compared to 30.1% in the first quarter of the previous year), are due to factors including the Group’s continuous commitment towards grasping the benefits offered by current legislation, in particular through the depreciations involved in the significant investments made in the direction of Utility 4.0. Over 96 million in investments, net debt stable Including capital grants, overall investments in the first 3 months of 2019 amounted to 96.3 million euro, up 7.4% over the same period of the previous year, and mainly concerned interventions on plants, networks and infrastructures. Additionally, investments were made in a large-scale metre substitution and in the purification and sewerage areas. Net debt remained essentially stable, coming to 2,622.0 million euro at 31 March 2019, compared to the 2,585.6 million seen at 31 December 2018. Excluding the changes ensuing from the application of accounting standard IFRS 16 on operating leases, a positive operating cash flow were seen in the first quarter. The 12-month rolling net debt/Ebitda ratio settled at 2.52x, confirming the Group’s financial solidity. Gas Ebitda for the gas area, which includes services in natural gas distribution and sales, district heating and heat management, settled at 151.0 million euro in the first quarter of 2019, rising compared to the 148.2 million seen at 31 March 2018 (+1.9%), thanks to the new portions of the default and last resort markets obtained. Gas customers increased by almost 80 thousand or 5.6% over the amount seen one year earlier, reaching 1.5 million, for reasons including the incorporation of the companies Blu Ranton, Sangroservizi and CMV Energia e Impianti, new customers in the last resort and default markets, and marketing initiatives. The gas area accounted for 45.6% of Group Ebitda. Water cycle The integrated water cycle area, which includes aqueduct, purification and sewerage services, showed strong growth in Ebitda, which went from 55.6 million euro in the first quarter of 2018 to 58.9 million in the same period in 2019 (+6.0%), thanks to higher revenues from new connections and lower operating costs. As was the case for the previous year, these results benefitted from bonuses awarded by the Authority for high service standards. The integrated water cycle area accounted for 17.8% of Group Ebitda. Waste Ebitda for the waste management area, which includes waste collection, treatment and disposal services, went from 66.5 million euro in the first quarter of 2018 to 67.3 million at 31 March 2019 (+1.2%), thanks in particular to higher revenues coming from waste treatment, the contribution made by Aliplast and the street sweeping business. In this sector, the Hera Group has consolidated its national leadership thanks to complete and integrated service offers, commercial partnerships, participation in tenders, and its roughly 90 avant-garde plants, able to provide efficient and sustainable solutions that support a circular economy. Good results were also achieved in the area of sorted waste, which rose to 64.1%, compared to the 59.5% seen in the first quarter of 2018, thanks to the numerous projects implemented across all areas served. The waste management area accounted for 20.3% of Group Ebitda. Electricity Ebitda for the electricity area, which includes services in electricity production, distribution and sales, went from 45.3 million euro in the first quarter of 2018 to 45.2 million at 31 March 2019, owing to lower income in the last resort market, which was however largely offset by a higher amount of electricity generation. Customers reached over 1.1 million, increasing by 10.3% over 31 March 2018, with over 100 thousand new customers: this significant growth mainly occurred on the free market, due to reinforced marketing initiatives, above all in central Italy, and the incorporation of the company CMV Energia e Impianti. The electricity area accounted for 13.7% of Group Ebitda. The manager responsible for drafting the company’s accounting statements, Luca Moroni, 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 first-quarter management report and related materials are available to the public at Company Headquarters and on the website www.gruppohera.it. Unaudited extracts from the Intermediate Management Report at 31 March 2019 are attached. Profit & Loss (m€) 31/03/2019 Inc.% 31/03/2018 Inc.% Ch. Ch. % Sales 1,940.4 1,741.3 +199.1 +11.4% Other operating revenues 121.0 6.2% 95.3 5.5% +25.7 +27.0% Raw material (1,024.6) (52.8%) (831.4) (47.7%) +193.2 +23.2% Services costs (556.7) (28.7%) (538.5) (30.9%) +18.2 +3.4% Other operating expenses (13.1) (0.7%) (12.7) (0.7%) +0.4 +3.1% Personnel costs (142.9) (7.4%) (140.0) (8.0%) +2.9 +2.1% Capitalisations 6.7 0.3% 8.7 0.5% (2.0) (23.1%) Ebitda 330.8 17.0% 322.7 18.5% +8.1 +2.5% Depreciation and provisions (125.8) (6.5%) (125.0) (7.2%) +0.8 +0.6% Ebit 205.0 10.6% 197.6 11.3% +7.4 +3.7% Financial inc./(exp.) (21.1) (1.1%) (17.5) (1.0%) +3.6 +20.6% Pre tax profit 183.9 9.5% 180.1 10.3% +3.8 +2.1% Tax (54.2) (2.8%) (54.2) (3.1%) +0.0 +0.0% Net profit 129.7 6.7% 125.9 7.2% +3.8 +3.0% Attributable to: Shareholders of the Parent Company 124.2 6.4% 120.5 6.9% +3.7 +3.1% Minority shareholders 5.5 0.3% 5.4 0.3% +0.1 +2.3% Balance Sheet(m€) 31/03/2019 Inc.% 31/12/2018 Inc.% Ch. Ch.% Net fixed assets 6,042.1 108.5% 5,905.1 108.7% +137.0 +2.3% Working capital 118.9 2.1% 115.4 2.1% +3.5 +3.0% (Provisions) (591.8) (10.6%) (588.2) (10.8%) (3.6) +0.6% Net invested capital 5,569.2 100.0% 5,432.3 100.0% +136.9 +2.5% Net equity 2,947.2 52.9% 2,846.7 52.4% +100.5 +3.5% Long term net financial debt 2,760.4 49.6% 2,558.8 47.1% +201.6 +7.9% Short term net financial debt (138.4) (2.5%) 26.8 0.5% (165.2) (616.4%) Net financial debt 2,622.0 47.1% 2,585.6 47.6% +36.4 +1.4% Net invested capital 5,569.2 100.0% 5,432.3 100.0% +136.9 +2.5% Results as at 31 March 2019 Press release as at 31 March 2019 2019-03-25 13:32:43 Il Gruppo Hera approva i risultati al 31/03/2019

2019-05-10 Kindly note that as of today the minutes of the Shareholders Meeting held on 30 April 2019 are available at company headquarters, on the Hera Group's website (www.gruppohera.it), in the section dedicated to Corporate Governance, and on the authorised storage website 1info. 20190510_Gruppo_Hera_COMUNICATO_VERBALE_ASSEMBLEA_ENG.1557496121.pdf 2014-04-24 15:12:00 110_assemblea.1393520601.jpg

2019-05-09 Nuova_Palazzina_1_870x.1533219432.jpg The multi-utility has consolidated its leadership in the waste management area by acquiring the entire shareholding of the company operating in waste management, owned by 20 Municipalities in the Tuscan-Emilian Apennine area. Hera Group acquires 100% of Sangroservizi The Hera Group has been definitively awarded the tender for purchasing 100% of the shares of Cosea Ambiente S.p.A., a company managing urban and similar waste services owned by 20 Municipalities in the Tuscan-Emilian Apennine area (15 in the province of Bologna, already Hera Group shareholders, and 5 in the province of Pistoia). The documents involved were signed today, 9 May 2019. The tender was accompanied by a ten-year concession for the Cosea Consorzio's Ca' dei Ladri landfill, in the Municipality of Gaggio Montano, also covering assets and resources involved in its operation. The concession, also dated today, was stipulated between Herambiente and Cosea Consorzio. The 18 Municipalities owning Cosea Consorzio are also shareholders in Cosea Ambiente, even while holding different percentages in the two companies, with the exception of two Municipalities with no shareholding. Thanks to this acquisition, the Hera Group will be able to manage its waste management services in an increasingly synergic way across the entire Province of Bologna. These services will be integrated with the others already offered in the Apennine area (mainly water and gas), guaranteeing at the same time that the personnel currently employed is maintained. As for the Municipalities previously served by Cosea Ambiente, they will benefit from the scale economies ensuing from an advanced industrial approach in service management and fully meet the goals set by the regional law on recycling and recovery. Further benefits will also come from the multi-utility's many infrastructures, which already guarantee a high level of environmental performance in the areas served by Hera (selection, disposal and biomethane production plants, etc.). Additionally, the Hera Group will invest in currently existing infrastructures and activities over the next few months. This operation is to be counted alongside the acquisitions made in previous years of Treviso's Aliplast and Geo Nova and Tuscany's Waste Recycling and Teseco, finding its place along the Hera Group's path of growth and the consequent enlargement of its scope of operations, as pursued for a number of years. It furthermore allows the multi-utility to consolidate to a greater degree its national leadership in the waste management sector, in which it serves 3.3 million citizens in over 170 Municipalities and manages all types of waste, thanks to roughly 90 plants that bring together efficiency, competitiveness in costs and the sustainability dictated by the principles of a circular economy. "This transaction represents another milestone in the ongoing enlargement of our activities in waste management, with the aim of optimising resources and processes, extracting synergies and creating value for the areas served and for all our stakeholders", comments Tomaso Tommasi di Vignano, Executive Chairman of the Hera Group. "All of this allows us to offer quality services and increasingly integrated solutions to citizens and industrial customers, bringing reliability together with sustainability in the collection and treatment of any type of waste." Romano Franchi, Chairman of Consorzio Cosea's Shareholders Meeting, has stated that "All shareholder municipalities have resolved in favour of this operation. There are a number of reasons for this: it allows us to safeguard the system's economic sustainability and to guarantee employment through a local presence, while at the same time reaching regulatory aims. We are leaving Hera a healthy system, confident that the Group will be able to further improve it." Hera Group acquires 100% of Sangroservizi 20190509_press_release_COSEA_acquisition.1557413719.pdf 2018-03-09 16:14:00 Read more Borsa Italiana welcomes Hera S.p.A.'s new bond to the green & social segment of ExtraMOT PRO

2019-05-07 (drafted pursuant to article 85-bis, paragraph 4-bis, of Consob Regulation 11971 / 14 May 1999) Bologna, 7 May 2019 - The following table contains the data concerning the shares outstanding and the number of voting rights representing the share capital at 30 April 2019. 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 2,261,329,400 1,489,538,745 2,261,381,952 Ordinary shares (regular dividend rights: 01.01.2018) - cod. ISIN IT0001250932 Current coupon: n. 17 717,748,090 717,748,090 717,695,538 717,695,538 Ordinary shares with increased voting rights (regular dividend rights: 01.01.2018) - cod. ISIN IT0001250932 Current coupon: n. 17 771,790,655 1,543,581,310 771,843,207 1,543,686,414 20190507_COMMUNICATION_OF_THE_OVERALL_AMOUNT_OF_VOTING_RIGHTS_eng.1557219263.pdf 2019-02-04 09:47:00 Hera SpA

2019-04-30 HERA_assemblea_azionisti.1556626141.jpg The multi-utility, included in the FTSE MIB as of 18 March 2019, improved all its main operating-financial and sustainability indicators, with results exceeding expectations and Ebitda amounting to over one billion for the first time. Commitment towards creating shared value also confirmed The Hera Ordinary Shareholders Meeting called to approve the 2018 financial statements was held in Bologna this morning, and the 2018 sustainability report (a consolidated non-financial statement drafted pursuant to legislative decree 254/2016) was presented. 2018 financial statements approved with strong growth in results In the ordinary session, the Shareholders Meeting approved the balance sheets pertaining to 2018, which showed improvement in all main operating-financial indicators: turnover reached € 6,626.4 million, up 8% over the previous year, Ebitda exceeded one billion euro for the first time - coming to € 1,031.1 million (+4.7%) - and net profits amounted to € 296.6 million (+11.2%). Overall Group investments in 2018, including capital grants, reached € 462.6 million (+5% over 2017). Net debt settled at € 2,585.6 million, essentially stable compared to the previous year (2,523.0 million in 2017). The quality of these results was confirmed by a drop in the net debt/Ebitda ratio, which fell to 2.51x (compared to the 2.56x seen in 2017), providing further confirmation of the Group's financial solidity, which was also reflected in the opinions released by leading rating agencies (Baa2 with stable outlook from Moody's and BBB with positive outlook from Standard & Poor's). The positive results for 2018, in line with the Business plan to 2022 and higher than the forecasts communicated last January, confirm the Hera Group's ranking among Italy's major multi-utilities and lay the foundations to grasp further opportunities for expansion in the fragmentary markets in which it operates. These figures furthermore bear witness yet again to the strengths of its multi-business strategy: a model balanced between regulated and free market activities, which brings internal growth together with external development, creating efficiencies and synergies that benefit the regions served, while remaining constantly in contact with the main stakeholders. For 16 years, the Hera Group has indeed pursued a path of uninterrupted growth: Ebitda has quintupled and net profits have grown eightfold. The multi-utility has thus reached an outstanding position nationwide in all activities managed (raking first in the waste management sector, second in the integrated water service and third in both gas distribution and energy sales to final customers). This growth was crowned on 18 March 2019, when the stock was included in the FTSE MIB, Borsa Italiana's foremost stock exchange index. Increase in dividends paid, now reaching 10 cents/share The Meeting thus approved the Board of Directors' proposal to pay a dividend of 10 cents per share, up over the amount seen in the past. The ex coupon date has been set at 24 June, with payment beginning on 26 June 2019. The dividend paid, based on the price of Hera shares at 31/12/2018, corresponds to an annual return of 3.7%. This confirms once again the Group's strong commitment to creating value for shareholders, as is also underlined by the most recent Business plan, whose dividend policy expects further growth to occur, reaching 11 cents in 2022. The sustainability report: shared value Ebitda reaches 375.2 million The 2018 sustainability report, presented during the meeting, highlights the Group's attention towards creating shared value, reporting information on those businesses that, in addition to creating operating margins for the company, work towards the objectives for sustainable growth contained in the UN Agenda. The areas in which Group's commitment takes shape fall under three main drivers: a smart use of energy, an efficient use of resources, along with innovation and contribution to local development. The Hera Group's 2018 shared value Ebitda came to 375.2 million euro (+14% over 2017), representing 36% of overall Ebitda: a result which is perfectly in line with the path set out in the Business plan, in which this indicator is projected to reach 40% by 2022. Furthermore, in 2018 the Group invested over 180 million euro (approximately 40% of the total) in initiatives and projects aimed at creating shared value. As regards the smart use of energy, the initiatives introduced allowed internal energy consumption to be reduced by 4.4% compared to 2013, while the Group also made a commitment to reducing CO2 emissions, through means including the use of entirely renewable electricity for the company's activities. Another important projects concern the production of biomethane from the organic part of waste in the Sant'Agata (BO) plant, the production of 600 GWh of renewable energy and a 16% reduction in the Group's carbon footprint in energy production. The amount of greenhouse gasses avoided thanks to the Group's initiatives have been estimated at 2.3 million tonnes, a figure which increased for reasons including its choice to guarantee a supply of electricity coming from renewable sources for all family customers, not only for those who have chosen the "Nature package" option. As regards the efficient use of resources, sorted waste destined to be recycled saw an unprecedented increase in 2018, rising to 62.5% (against 57.7% in 2017, and compared to the national average of 55.5%). Another outstanding example is the amount of packaging recycled, which came to 70%, meaning that the Hera Group has already reached the goal for 2030. A strong commitment towards sustainability was also seen in the sewerage and purification sector, with interventions including the Rimini seawater protection plan and the upgraded Servola purifier in Trieste, fully operational as of June 2018. Lastly, significant results also came from innovation and contribution to local development, with positive repercussions on local economies and their rate of employment. In 2018, the Group created an economic value of almost 2 billion euro in the areas in which it operates, equivalent to 78% of the total economic value (+4% over the previous year). Investments in innovation and digitalisation amounted to 62.4 million in 2018 and went towards projects in four areas: smart city, circular economy, utility 4.0 and customer experience. Other resolutions approved The Meeting furthermore approved the renewal of authorisation for the Board of Directors to purchase treasury shares (and arrangements for their disposal), for a maximum amount of € 200 million over 18 months, at the same time annulling the unimplemented part of the prior resolution, dating to the previous year. This renewed authorisation to use treasury shares was requested to pursue the aims recognised by current regulations and accepted market practices, in order to increase the creation of value through operations giving rise to investment opportunities and transactions involving financial instrument issuance. The Meeting, lastly, approved the remuneration policy report, in line with international best practices, and the corporate governance report was also presented. Hera Shareholders Meeting 20190430_CS_Assemblea_Soci_Hera_eng.1556625182.pdf 2019-04-30 13:10:29 Hera Shareholders Meeting

2019-04-18 Bologna, 18 April 2019 - The following table contains the data concerning the shares outstanding and the number of voting rights representing the share capital at 17 April 2019. 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 2,261,381,952 1,489,538,745 2,264,486,952 Ordinary shares (regular dividend rights: 01.01.2018) - cod. ISIN IT0001250932 Current coupon: n. 17 717,695,538 717,695,538 714,590,538 714,590,538 Ordinary shares with increased voting rights (regular dividend rights: 01.01.2018) - cod. ISIN IT0001250932 Current coupon: n. 17 771,843,207 1,543,686,414 774,948,207 1,549,896,414 20190418_Hera_comunicazione_ammontare_complessivo_diritti_di_voto_ENG.1555592350.pdf 2019-02-04 13:26:00 piloni_110x150.1461840758.png

2019-03-28 Kindly note that the following documentation, pertaining to the Shareholders Meeting convened for 30 April 2019, is available to the public at company headquarters, the authorised storage website 1INFO (www.1Info.it) and on the Hera Group's website (www.gruppohera.it/gruppo/corporate_governance/assemblee/): Hera S.p.A. Board of Directors' Explanatory Report regarding item 3 on the Agenda. 20190328_Publication_of_documents_pertaining_to_the_Shareholders_Meeting_of_30_April_2019.1553762005.pdf 2019-03-28 11:22:00 110x150_heraspa.1475082913.jpg

2019-03-27 Results at 31/12/2018 The multi-utility, included as of Monday 18 March in the FTSE MIB, closed the year with all main results improving beyond expectations, reaching the milestone of a one billion-euro Ebitda and crowning a history of 16 years of uninterrupted growth. Proposed dividends also rise to 10 cents per share, in line with the content of the business plan. https://eng.gruppohera.it/group_eng/investor-relations/results-and-presentations/y2018 /documents/1514726/4880892/GruppoHera_Consolidated_Financial_Statements_31_12_2018.1554724349.pdf/44a36885-d73d-277e-aff2-53db3830e0b2?t=1610019133226 /documents/1514726/4880892/GruppoHera_Analyst_Presentation_Y2018.1553697207.pdf/9c5e4a91-9a6f-6051-3cc1-9bf082022a93?t=1610019129901 http://investornews.gruppohera.it/en/?n=59 /documents/1514726/4210707/Dati_finanziari_31_12_2018_eng.1553529410.xls/d37906ea-869f-f70e-61cc-aef86dc37c28?t=1597907641160 https://www.slideshare.net/Gruppo_Hera/analyst-presentation-y2018 /group_eng/investor-relations/results-and-presentations/interactive-data HTML Y2018 results Financial results as at 31/12/2018 Analyst presentation: Y2018 results Newsletter: Y2018 results Financial data as at 31 December 2018 Slideshare Y2018 Interactive data Financial highlights Turnover at 6,626.4 million euro (+8.0%) Ebitda at 1,031.1 million euro (+4.7%) Net profits at 296.6 million euro (+11.2%) Net debt at 2,585.6 million euro Net debt/Ebitda ratio improves to 2.51x Proposed dividends increase to 10 cents per share Operating highlights Good contribution to growth coming from all businesses, in particular the integrated water cycle and the gas area Management marked by good results achieved in internal growth Solid customer base in energy sectors (over 2.5 million), up by roughly 150,000 Sorted waste increases to a 62.5% average over all areas served Improvement seen in all sustainability indicators, with shared value Ebitda growing to 375.2 million euro (+14%) Today, the Hera Group’s Board of Directors, chaired by Tomaso Tommasi di Vignano, unanimously approved the consolidated economic results at 31 December 2018, along with the Sustainability Report. 16 years of uninterrupted growth and winning strategies, with all main operating-financial and sustainability indicators improving The Hera Group closed the 2018 financial year with improved results, exceeding expectations. All business areas contributed to this growth, which was largely sustained by regulated activities. The results achieved confirm the Hera Group’s position of leadership among multi-utilities and the solidity of its business model, preparing it to grasp additional opportunities for expansion in the fragmentary markets in which it operates. The Group’s sixteen-year track record of uninterrupted development combining internal and external growth has allowed it to reach significant economies of scale and ever-increasing synergies thanks to its multi-business industrial approach, balanced between regulated and free-market activities, which has proved to be a winning strategy. Since its birth in 2002, the Hera Group has quintupled its Ebitda, with net profits increasing eightfold: it now ranks among the Nation’s leaders in all business areas (first in waste management, second in the integrated water cycle, third in gas distribution and in energy sales to end customers). These results are accompanied by a strong commitment towards social and environmental sustainability and towards creating shared value, both of which are competitive levers in all respects and bring the company’s development into line with the targets defined in the UN’s 2030 Agenda and the most advanced European goals. Turnover exceeds 6.6 billion, increasing by 8.0% The Hera Group’s 2018 turnover rose to 6,626.4 million euro, up 489.5 million (+8.0% over the 6,136.9 seen in 2017), thanks above all to higher revenues in gas and electricity sales owing to volumes sold, in addition to higher revenues in the waste management area and water services. Ebitda grows to 1,031.1 million (+4.7%) Group Ebitda exceeded one billion euro for the first time, reaching 1,031.1 million (+4.7%), up 46.5 million over the 984.6 million recorded in 2017 and above the forecast released on 10 January 2019 (indicating an estimated 1,020 million 2018 Ebitda). This result was due to the good performances seen in the Group’s various business areas, first and foremost the integrated water cycle and the gas area. Operating results and pre-tax profits increase, financial management improves Net operating results also rose, coming to 510.1 million euro, up 30.8 million (+6.4% compared to the 479.3 seen in 2017), despite higher operating amortisation, depreciation and provisions for new investments in regulated distribution and changes in the scope of operations. Pre-tax profits went from 377.8 million euro in 2017 to 418.4 million (+10.7%), rising by 40.6 million euro thanks to a 9.8 million improvement in financial management. Sharp rise in net profits, reaching 296.6 million euro (+11.2%) Group net profits increased to 296.6 million euro (+11.2%), with a 29.8 million euro rise over the 266.8 seen one year earlier. The average tax rate settled at 29.1%, as against 29.6% at 31 December 2017; the latter moreover benefitted from several exemptions, without which it would have come to 30.8%. The improvement is thus equivalent to 1.7% and is linked to the benefits coming from the Group’s considerable investments in assets going towards technological and digital transformation. Profits pertaining to Group Shareholders came to 281.9 million euro (+12.1%), up 30.4 million over 2017. Investments rise to 462.6 million euro, Net debt/Ebitda ratio further improves to 2.51 Including capital grants, the Group’s overall 2018 investments came to 462.6 million euro, up 5% over the 440.5 million seen the previous year. They mainly went to interventions on plants, networks and infrastructures, to guarantee efficiency, safety, resilience and innovation, in addition to regulatory upgrading above all in gas distribution, with an intensive meter substitution, and the purification and sewerage areas. Net investments came to 431.8 million. Net debt settled at 2,585.6 million euro, improving compared to the 30 September 2018 figure and essentially stable with respect to the previous year (2,523.0 million in 2017), despite higher investments, the M&A operations seen during the year and the treasury shares repurchased. Further improvement was seen in the Net debt/Ebitda ratio, which dropped to 2.51 (compared to 2.56 in 2017). The Group’s financial solidity is reflected by the opinions expressed by major rating agencies: Baa2 with a stable outlook from Moody’s and BBB with a positive outlook from Standard & Poor's. Further improvement in the Group’s sustainability, shared value Ebitda up to 36% These positive operating results were matched by an ever-increasing attention towards sustainability. The Hera Group was among the first to introduce, in 2016, shared value reporting, covering all business activities that in addition to generating Ebitda for the company respect the drivers of sustainable development defined by the UN’s 2030 Agenda and, more generally speaking, various national and international policies. The Hera Group’s 2018 shared value Ebitda came to 375.2 million euro, accounting for 36% of overall Ebitda (+14% compared to the 329 million seen the previous year). This result is perfectly in line with the path set out by the Business plan, in which this indicator is projected to reach 40% by 2022. The Group’s attention towards sustainability is also proven by the fact that 40% of total investments made by the Group – coming to over 180 million euro – go towards initiatives and projects aimed at creating shared value, distributed among the three drivers within which the Hera Group has organised this commitment: 71.3 million invested in innovation and contributions to development, 68.9 million in a more efficient use of resources and 48.3 million in a smarter use of energy. Proposed dividends rise to 10 cents per share, inclusion within the FTSE MIB In 2019 Hera became part of the Borsa Italiana FTSE MIB index, which includes the 40 largest companies listed on the Italian stock exchange, thanks to the amount of free float capitalisation and the value of the shares traded over the last six months. The Board of Directors, considering the positive results achieved and the Group’s sound financial profile, has decided to put a dividend of 10 cents per share to the Shareholders Meeting to be held on 30 April 2019, higher than last June (9.5 cents per share) and in line with the content of the Business plan. The ex-dividend date has been set at 24 June 2019, with payment as of 26 June 2019. Gas Ebitda for the gas area, which includes services in natural gas distribution and sales, district heating and heat management, grew significantly over the previous year in terms of both margins and volumes sold: it indeed reached 316.5 million euro (+4.9%), 14.8 million more than the 301.7 million seen in 2017. This result was reached thanks to commercial development on the free market, increased activity on the default market and in last resort supply, greater efficiency in distribution and the positive effect on consumption coming from the colder winter temperatures. The number of customers rose by 59.6 thousand (4.3%), now totalling 1.5 million users, partially due to the acquisitions of 100% of the Abruzzo companies Blu Ranton and Sangroservizi. Volumes sold increased by 18.2%. In 2018 net investments amounted to 115.4 million euro (+14.3% compared to 2017), to guarantee and improve the high-quality standards in networks and plants, with non-recurring maintenance and work involving cathodic protection for the Trieste network. Investments also rose for heat management and the number of new connections in district heating grew. The gas area accounted for 30.7% of Group Ebitda. Water cycle In 2018, the integrated water cycle area, which includes aqueduct, purification and sewerage services, recorded Ebitda amounting to 249.7 million euro, up 19.8 million euro (+8.6%) over the 229.9 seen over the previous year. This result was mainly obtained through the efficiencies reached, higher revenues resulting from the tariffs introduced by the Authority, the bonuses awarded for high service standards and the change in scope of operations resulting from the operational status of the new Servola (Trieste) purifier and a few items from previous years. Net investments amounted to 127.6 million euro (increasing by 12.8% over 2017). Including capital grants, investments totalled 157.9 million, mainly dedicated to extensions, network and plant upgrading and reclamations, in addition to regulatory upgrading concerning above all purification and sewerage. The main investments also included work on the Rimini seawater protection plan, one of the Group’s most important and at the forefront nationwide as regards sewerage and purification. The integrated water cycle area accounted for 24.2% of Group Ebitda. Waste Ebitda for the waste management area, which includes waste collection, treatment and disposal services, also grew, coming to 252.0 million euro (+2.4%), up 6 million over the 246.0 million recorded in 2017. In the waste treatment sector, in which the Group ranks once again as the nation’s leader with roughly 90 plants handling all types of waste, the positive results were mainly due to fluctuations in the price of special waste and revenues from electricity generation. In waste management and recovery, it is worth mentioning, Hera works with complete and integrated offers, providing its partner companies with all-inclusive solutions that bring together efficiency and sustainability, in line with the principles of a circular economy. This is the strategy underlying the biomethane production plant inaugurated in October in Sant’Agata Bolognese thanks to a 37 million euro investment, which as of 2019 will contribute to results in the waste management area, and the contribution coming from Aliplast, a national and international leader in plastic collection and recycling. Sorted waste going towards recycling showed an unprecedented increase in 2018: almost five percentage points, going from 57.7% in 2017 to 62.5%, thanks to the numerous projects implemented across all areas served. The positive performance in sorted waste is also due to a few municipalities where services have been modified as preparation for the shift to unit pricing, with Ferrara representing one outstanding example. Investments coming to 77.7 million euro were mainly dedicated to maintaining and upgrading plants. The waste management area accounted for 24.4% of Group Ebitda. Electricity The electricity area, which includes services in electricity production, distribution and sales, recorded an Ebitda coming to 183.5 million, essentially in line with the 184.5 million recorded the previous year. This result was mainly due to higher revenues from sales and distribution, along with higher margins and operating efficiencies which largely offset lower revenues in trading and the lower income from electricity generation caused by regulatory modifications and temporarily suspended plants in Campania. Electricity customers rose to 1.1 million (+8.9%), up 87.1 thousand, with significant growth seen above all on the free market thanks to reinforced marketing initiatives, in particular in regions of Central Italy. Investments amounting to 23 million euro went mainly to non-recurring maintenance on plants and networks in the Modena, Imola, Trieste and Gorizia areas. The amount of Group Ebitda accounted for by the electricity area came to 17.8%. Statement by Executive Chairman Tomaso Tommasi di Vignano “We are particularly satisfied with the results achieved, since the various indicators confirm that the Hera Group’s growth is a healthy one: it corresponds, indeed, to further increases in the rates of return, with ROI and ROE continually progressing over the last 4 years. This is due to a growing and efficient capital allocation, expansion on free markets, the enhanced efficiency attained, and the innovations introduced, all of which has brought about a 6% growth in Ebitda per employee. Furthermore, we have confirmed our tendency to create value for all stakeholders, beginning with our shareholders, to whom we will pay a 10 cent per share dividend, showing a further increase with respect to the past and in line with what we have presented in our Business plan. They will additionally benefit from a higher stock liquidity, thanks to our recent entry in the FTSE MIB.” Statement by CEO Stefano Venier “The Hera Group’s excellent results, largely produced by internal growth, bear witness to the actions we have undertaken to improve efficiency and sustainability to an even greater degree, and also to broaden our reference market through tenders and boost our ability to compete on free markets. Our positive operating management has been matched by an improved financial management and tax optimisations, as is fully reflected by the Group’s growing profits. I feel it is important to mention that our growth is proceeding at the same rate as our attention towards sustainability and creating shared value, both fundamental levers in our strategy. Evidence of this can be seen in both the Group’s rising Ebitda that, in 2018 as well, was fully in line with the principles of shared value, and in our innovative financial operations, such as launching the first sustainable revolving line of credit last May, after we pioneered the first green bond on the Italian market in 2014.” The manager responsible for drafting the company’s accounting statements, Luca Moroni, 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. From 8 April 2019 the Y18 financial report and related materials will be made available to the public pursuant to the terms established by law at Company Headquarters, on the website www.gruppohera.it and on the authorised storage platform 1Info (www.1info.it ). Unaudited extracts from the Abbreviated Consolidated Y18 Financial Statements are attached. PROFIT & LOSS (M€) 31/12/2018 INC.% 31/12/2017 INC.% CH. CH. % Sales 6,134.4 5,612.1 +522.3 +9.3% Other operating revenues 492.0 8.0% 524.8 9.4% (32.8) (6.3%) Raw material (2,984.1) (48.6%) (2,606.8) (46.4%) +377.3 +14.5% Services costs (2,040.5) (33.3%) (1,952.2) (34.8%) +88.3 +4.5% Other operating expenses (62.5) (1.0%) (84.6) (1.5%) (22.1) (26.1%) Personnel costs (551.4) (9.0%) (551.6) (9.8%) (0.2) (0.0%) Capitalisations 43.3 0.7% 43.0 0.8% +0.3 +0.7% Ebitda 1,031.1 16.8% 984.6 17.5% +46.5 +4.7% Depreciation and provisions (521.0) (8.5%) (505.3) (9.0%) +15.7 +3.1% Ebit 510.1 8.3% 479.3 8.5% +30.8 +6.4% Financial inc./(exp.) (91.7) (1.5%) (101.5) (1.8%) (9.8) (9.7%) Pre tax profit 418.4 6.8% 377.8 6.7% +40.6 +10.7% Tax (121.8) (2.0%) (111.8) (2.0%) +10.0 +8.9% Net profit before special items 296.6 4.8% 266.0 4.7% +30.6 +11.5% Special items 0.0 0.0% 0.8 0.0% (0.8) (100.0%) Net profit 296.6 4.8% 266.8 4.8% +29.8 +11.2% Attributable to: Shareholders of the Parent Company 281.9 4.6% 251.5 4.5% +30.4 +12.1% Minority shareholders 14.7 0.2% 15.3 0.3% (0.6) (3.9%) BALANCE SHEET(M€) 31/12/2018 INC.% 31/12/2017 INC.% CH. CH.% Net fixed assets 5,905.1 108.7% 5,780.6 110.5% +124.5 +2.2% Working capital 115.4 2.1% 23.2 0.4% +92.2 +397.4% (Provisions) (588.2) (10.8%) (574.8) (10.9%) (13.4) +2.3% Net invested capital 5,432.3 100.0% 5,229.0 100.0% +203.3 +3.9% Net equity 2,846.7 52.4% 2,706.0 51.7% +140.7 +5.2% Long term net financial debt 2,558.8 47.1% 2,735.4 52.4% (176.6) (6.5%) Short term net financial debt 26.8 0.5% (212.4) (4.1%) +239.2 (112.6%) Net financial debts 2,585.6 47.6% 2,523.0 48.3% +62.6 +2.5% Net invested capital 5,432.3 100.0% 5,229.0 100.0% +203.3 +3.9% Self-assessment of the Board of Statutory Auditors It should be noted that today the Board of Directors has taken note of the self-assessment report of the Board of Statutory Auditors of Hera S.p.A. that has carried out, according to the current legislation, its own self-assessment, based on the analysis of the suitability of its own members and the proper composition of the body. The Board has ascertained in particular that its members meet the requirements of professionalism, competence, integrity and experience. Results at 31/12/2018 Press release as at 31 December 2018 2019-03-25 13:01:43 be_110x150.1553681463.png

2019-03-18 As of today, Monday 18 March, the multi-utility is part of the index comprising the 40 largest companies listed on the Italian stock exchange. Calendar of events Hera has been included, as of today, Monday 18 March, in the FTSE MIB, the main index of Borsa Italiana, which comprises the 40 largest stocks listed on the Italian stock exchange in terms of capitalisation, liquidity and trading volume. Hera, one of Italy's leading multi-utilities, has become part of this index based on the amount of free-float capitalisation and the value of shares traded over the last six months (+52% compared to the 2018 average). This achievement was made possible by Hera's path of uninterrupted growth, which began 16 years ago and is based on a multi-business model that combines internal and external growth and shows a mix of activities offering resilience towards the main macro-variables seen in its reference scenario. The new Business plan to 2022 shows further prospects for growth in Ebitda (+200 million euro in the period from 2018 to 2022), sustained by 3.1 billion in investments (of which 1.1 going towards development). Increases in cash generation will also ensure the Group's ability to maintain its financial soundness (with the 2022 target for the net debt/Ebitda ratio coming to 2.9). The Plan also confirms the importance of creating value for shareholders, with a dividend policy aimed at paying 11 cents per share in 2022 (compared to the 9.5 cents paid in 2018). 20190318_comunicato_Hera_in_FTSE_MIB_eng.1553093323.pdf 2017-01-26 09:00:00 Related contents Hera Group included in the 2020 Bloomberg Gender-Equality Index

2019-02-26 Formal procedures were completed today aimed at integrating Inrete and CMV Servizi's natural gas distribution services, and Hera Comm and CMV Energia e Impianti's energy sales activities. A specific notice with all relevant updates will be included in the bills sent to CMV's energy customers. CMV Servizi and CMV Energia e Impianti's energy activities part of the Hera Group as of 1 March Formal procedures were completed today aimed at integrating Inrete and CMV Servizi's natural gas distribution services, and Hera Comm and CMV Energia e Impianti's energy sales activities. A specific notice with all relevant updates will be included in the bills sent to CMV's energy customers. Following approval by the respective Shareholders Meetings on 20 December 2018, an operation was formalised today calling for the energy activities carried out by CMV Servizi, including the subsidiary A Tutta Rete (ATR), and CMV Energia e Impianti, to be integrated within the Hera Group, with natural gas distribution going to Inrete Distribuzione Energia and Hera Comm becoming responsible for energy sales. The integration within the Hera Group, in effect as of 1 March 2019, concerns roughly 30,000 delivery points (26,500 in the Ferrara area and over 3,100 in the Bologna area) for natural gas distribution and approximately 25,000 customers (21,300 gas and 3,500 electricity). The latter will receive a notice along with their bills, welcoming them and explaining all relevant updates. In particular, the Customer Service number 800 688 690 will continue to be available to CMV's energy customers and the current help desks will be maintained, including the one located in Viale Cavour in the historical centre of Ferrara, recently renovated and already integrated within the Hera Group's services. As of 1 March, all those accessing CMV's website will be automatically redirected to new, dedicated pages. In addition to maintaining local service points and the personnel currently employed in the two branches of activity, CMV Servizi and CMV Energia e Impianti, with a convergence towards the multi-utility's other activities in the same area, the Hera Group's offers and policies will be applied, to the advantage of quality and innovation in customer service. 20190226_integrazione_energy_CMV_eng.1551256803.pdf 2019-02-27 11:40:00 CMV Servizi and CMV Energia e Impianti's energy activities part of the Hera Group as of 1 March

2019-01-28 Calendar of events CALENDAR OF CORPORATE EVENTS (*) In accordance with art. 2.6.2 (Required Reporting) of the "Rules of the markets organised and managed by Borsa Italiana S.p.A.", please find below our annual calendar of corporate events: 27 March 2019 - Meeting of the Board of Directors to approve the previous year's preliminary financial statements. 30 April 2019 - Shareholders Meeting to approve the previous year's financial statements. 15 May 2019 - Meeting of the Board of Directors to approve additional financial information for the period ending on 31 March 2019. 30 July 2019 - Meeting of the Board of Directors to approve the half-year financial report as at 30 June 2019. 13 November 2019 - Meeting of the Board of Directors to approve additional financial information for the period ending on 30 September 2019. The Board of Directors, as communicated for the previous financial year and in line with the past, in order to guarantee regularity in the information provided to the financial market and investors, has decided to continue preparing and publishing this information quarterly, on a voluntary basis and in line with current regulations. (*) barring changes 20190128_Gruppo_Hera_calendario_eventi_societari_ENG.1548674495.pdf 2017-01-26 11:45:00 Related contents Calendar of events

2019-01-10 Based on solid forecast for 2018, which significantly exceeded the goal of one billion in Ebitda, this new strategic plan confirms the path of uninterrupted growth achieved by the Group since 2002. The focus on investments and innovation will guarantee a place at the forefront of its evolving services, further improving resilience and rising to the challenges of the sector. Efficiency and increased attention towards investment allocation, including a higher level of sustainability, will favour internal growth, with financial solidity fuelling external growth. Hera Group approves Business Plan to 2022 Operating and financial highlights 2022 Ebitda: 1,185 million euro (+200 million over 2017 Ebitda) Overall industrial and financial investments: over 3.1 billion euro (+9% over the investments foreseen by the previous Business Plan) Net debt/Ebitda ratio to remain below 3 Further increases expected in dividends, reaching 11 cents per share in 2022 (+16% over the last dividend paid) Business highlights Business strategy once again based on 5 priorities: growth, efficiency, excellence, innovation and agility, all reworked and enhanced to meet the challenges involved in Ecosystems, Circularity and Technology Development driven by a balanced mix of internal and external (M&A) growth Confirmation of tenders currently awarded for gas distribution and urban waste management Goal of reaching over 3 million energy customers by 2022, thanks to leadership in last resort services, the end of the protected market and actions taken towards commercial growth Shared Value coming to over 470 million euro Preliminary consolidated 2018 Ebitda at roughly 1,020 million and a plan geared towards growth This morning the Hera Group's Board of Directors, which met to discuss the Business Plan to 2022, also examined the forecast of consolidated results for 2018, with year-end Ebitda reaching 1.02 billion euro, up 3.6% over the 984.6 million seen at 31 December 2017 and higher than expected by the previous business plan. The net debt/Ebitda ratio settled at roughly 2.54x, in line with the previous year. On the solid basis of this achievement and the results previously reached, which reflect an uninterrupted path of growth lasting 16 years, the Board approved the new Plan to 2022, which shows a strong commitment towards the Group's further development in the industry, in spite of an increasingly complex scenario. A deeply changing scenario The macro-economic scenario now appears to be less favourable than in the past (with interest rates rising and an economic outlook less positive than during the previous year), and yet this should not significantly influence the Group's prospects, thanks to the breakdown of its service portfolio, the changes introduced in its business models in recent years and its large degree of regulated activities. The upcoming years will witness many important events, perhaps most decisively the process, already underway, involving tenders in gas distribution, which is expected to lead to a significant rationalisation in the number of operators. In the waste collection sector as well, the five years covered by the Plan are expected to see the beginning of tenders for service concessions that have already expired or will do so in the near future. Regulatory changes for customer segments in protected services are also foreseen, intended to promote an additional increase in the added value of services offered and higher competition on the marketplace. Mention must also go to continued progress towards consolidation in multi-utility sectors, energy sales and waste treatment services, which are still among the most fragmentary in Europe. Investments amounting to over 3.1 billion euro, financial solidity confirmed In light of the opportunities offered by the scenario, the new Plan to 2022 foresees investments coming to over 3.1 billion euro, up roughly 260 million over the previous strategic document. Three quarters of these investments will be concentrated in regulated activities: approximately 70% will continue to be dedicated to the network system and roughly 6% to urban waste collection. Significant interventions in infrastructure modernisation and development will be deployed, confirming the Group's commitment to investing in its reference areas and thus offering increasingly innovative, resilient and high-quality services. Investments intended for tenders for gas distribution have thus been confirmed, in order to maintain the major tenders currently managed. Overall, considering the expansion in plants, gas tenders and M&As, roughly 1.1 billion in investments will be dedicated to supporting development in these activities over the next five years. This investment plan is financially sustainable thanks to an increasing cash generation, able to cover investments and pay dividends. The ratio between net financial debt and Ebitda is expected to settle at 2.9 by 2022, in line with the figure seen in the previous plan. Without including the effect of tenders, financial balance will remain similar to the present, guaranteeing sufficient leeway to be able to grasp any possible opportunities for growth not included in the Plan, without harming the Group's financial solidity. A strategy aimed at grasping opportunities, with a focus on Shared Value as an additional source of competitive advantages The Group's strategy is focused on Ecosystems, Circularity and Technology, achieved by activating its time-tested principles of efficiency, excellence, growth, innovation and agility, in addition to creating coherent projects that guarantee the full implementation of the Business Plan. Always giving close attention to issues regarding sustainability, the Group has recently defined some lines of development intended to pursue the goals on the UN Agenda which apply to the activities carried out by this multi-utility (covering at least 10 of the 17 goals indicated). Almost 3/4 of the growth expected over the five years covered by the Plan will thus be sustained by projects introduced in order to respond to this "call to action", thus bringing the amount of shared value Ebitda to exceed 470 million euro by 2022 (corresponding to 40% of overall Ebitda). Ebitda targets growing, balanced among the various business areas, between regulated and free market activities and between internal and external growth Matching the investments implemented over the next five years, 2022 Ebitda is expected to reach 1,185 million euro, with an over 200 million increase compared to the 984.6 million recorded in 2017 and with an average annual increase of roughly 40 million over the period of time covered by the Plan. All areas of activity (networks, waste management, energy and other services such as telecommunications and public lighting) will contribute to this growth, with the Group's usual balance between income from regulated and free market activities, as well as between internal and external growth. Thanks to higher levels of efficiency and ever more substantial investments, the overall contribution to the increase in Ebitda coming from internal growth is expected to reach 120 million over the period of time covered by the Plan (130 million, taking into account 10 million due to lower incentives), while an 80 million increase in Ebitda is expected from external growth. These goals are in line with the five-year growth of the previous Plan and that benefit from the already consolidated outperformance linked to the trends seen in 2018 and the outcome of tenders for last resort markets, in which Hera has become the leader in all segments. Value for shareholders to increase, with a bold dividend policy The Plan confirms the Group's attention towards the creation of value and transparency in dividend policies, which have become more challenging than in the past and compared to the content of the previous Business Plan. The dividend established, which had already risen to 9.5 cents per share in 2017, will indeed reach 10 cents per share in 2018 and 2019, 10.5 in 2020 and 2021 and 11 in 2022 (+16% over the most recent dividend payment), with a 0.5 cent increase every 2 years. Networks: efficiency and resilience intended to tackle climate change; innovation and excellence to become a leading figure in a smart economy Most of the growth foreseen by the Plan is expected to come from the networks area: Ebitda related to electricity and gas distribution, the water cycle and district heating will increase from the 424 million euro seen in 2017 to 581 million in 2022, thus making up roughly half of the Group's overall Ebitda. Many initiatives have been introduced to make networks increasingly "smart", boosting their efficiency, circularity and resilience as well as contributing to their ability to meet the growing challenges coming from climate change and the environment. These projects include a large-scale installation of "smart" meters, understood as factors able to promote the evolution towards smart cities. One example lies in the new and evolved functions shown by the last-generation gas meters developed by the Group in a partnership with Panasonic, which will allow the service to be constantly monitored and increase safety in case of leaks, earthquakes or network disruptions. In electricity distribution, network upgrading is expected to benefit the continuity of this service, by constructing new primary transformer rooms and carrying out targeted interventions on secondary transformer rooms, also involving network automation and digitalisation to support on-field interventions by personnel. District heating will play a significant role in decarbonising the area, since over 70% of the heat produced over the duration of the Plan will be generated from renewable and comparable sources. As regards the gas area, an opportunity for expansion lies in the tenders to be awarded for grants in gas services; after countless postponements, this should take place within 2022, beginning as of the current year, in all geographical areas in which the contracting authorities have already defined the networks' VIR (residual industrial value). In this sector, the Hera Group aims at growth mainly by confirming the areas already served, thanks to investments amounting to roughly 470 million. In the water area, lastly, the focus will go to protecting this resource, by upgrading the search for leakage and developing the districtualization of the network, also including innovative projects in water management to promote, both inside and outside the company, increasing sustainability and awareness regarding the use of water. Special attention will go to the reuse of purified water, already implemented with excellent results in the Bologna area and currently being extended to other zones. Consolidating leadership in the waste management sector, by enhancing resource protection and maximising reuse Ebitda in the waste management area is expected to grow from the 246 million euro seen in 2017 to almost 300 million in 2022. The goal set for this area is to be confirmed at the forefront as an operator in the integrated waste cycle, offering concrete solutions for businesses and citizens. Protecting environmental resources will remain a top goal, as will maximising their reuse. Special attention will continue to go to promoting sorted waste, expected to rise from 57.7% in 2017 to over 73% in 2022 and to see qualitative improvement as well, through specific communication campaigns and initiatives designed to get citizens involved. Unit pricing should provide citizens with an incentive to improve the quality of their sorted waste as well, as has been demonstrated by the excellent results, exceeding expectations, reached in a few municipalities where it has already been introduced (attaining over 85% of SW in a local capital such as Ferrara and peaks of close to or over 90% in some municipalities in the Modena area). In waste treatment and recovery, the Herambiente Group will be able to consolidate its national leadership by offering complete and integrated commercial packages. The latter consist in solutions for large industrial clients, including waste and energy services as well as purification and through an avant-garde group of plants able to offer solutions supporting a circular economy. These range from the biomethane production plant recently opened in the Bologna area, to reinforcing Aliplast's outstanding capabilities in plastic recycling, creating new business opportunities, and lastly launching important partnerships, such as the ones with Eni in biofuel and Bio-on in developing new natural and 100% biodegradable plastic materials. Collecting and analysing data coming from on-field infrastructures (bins, vehicles, etc.) and WTE plants will allow all activities to be optimised, automating processes and reducing costs. Energy: over 3 million customers, thanks to customer experience and new "sustainable" solutions Ebitda for the energy area will settle at 268 million in 2022, showing a slight growth over the objective set in the previous strategic document. The challenging goal the Group has set for itself is to reach over 3 million customers by the end of the period covered by the Plan, confirming its place among the sector's leaders with a more substantial and loyal customer base, thanks to positive results in customer experience and new solutions geared towards savings and respect for the environment. In addition to internal growth in the customer base and the hypothesis of additional development along the Adriatic coast, the Group can rely on an excellent result that saw it confirmed, in recent months, as a leading player in last resort services in the energy market. One significant opportunity to reinforce the customer base will come from the end of the protected market (i.e. maggior tutela), which according to Hera's estimates will lead it to gain at least 500,000 customers. Commercial development will depend on offers bringing added value, from those in support of smart homes (smart thermostats, remote sensors, etc.) to combinations of insurance and maintenance products, or again services involving energy efficiency or electric mobility. The country's objectives in energy efficiency themselves provide an opportunity to develop the Group's energy services through its specialised companies, able to offer solutions tailored for public administrations, apartment buildings and industrial clients. The Group will furthermore give increasing attention to customer experience, turning to process and payment digitalisation to meet the needs of customers who are ever more "online", as well as adopting efficient systems for data management and analysis, to guarantee an excellent service and accelerate the "time to market". Applying behavioural science, combined with precise interventions (such as reporting consumption in bills), will lastly allow an increasingly efficient use of energy to be promoted. Tomaso Tommasi di Vignano, Hera Executive Chairman The growth we have foreseen over the duration of the Plan is entirely visible, considering our track record. Our investment program is significant, increasing by 260 million, and the rise in cash generation will allow the Net debt/Ebitda ratio to be maintained at 2.9x, as had been predicted for the end of the period covered by the previous plan. We have confirmed our strong attention towards creating value for shareholders and a transparent dividend payment policy, year by year. This solidity and visibility is also guaranteed by the prospects offered by the external scenario (M&As, protected services and gas tenders) and taken into account in the Plan, based on a conservative estimate which consists in maintaining current market shares. Stefano Venier, Hera CEO In a five-year period that will see a remarkable expansion in our plant facilities, a new phase is taking shape, with important events on the horizon in almost all our businesses. The Plan's premise lies in affirming our leadership in services for our reference area and continuing in technological evolution, in order to persist in increasing regeneration in management models for activities and their resilience. Our risk/return tradeoff will improve thanks to a significant development in regulated activities, complemented by trends in free market activities. The Business Plan has been built around globally relevant issues, since we are perfectly aware of our role in enabling circular smart cities, but also the need to adequately respond to the new needs of our customers and the local ecosystem, brought about by digital evolution and environmental challenges. GH_press_release_business_plan_2022.1547121232.pdf 2019-01-07 14:01:17 Hera Group approves Business Plan to 2022

2018-12-20 Following up on the steps taken during the past few weeks in all Town Councils involved, the project aimed at integrating natural gas distribution between Inrete and CMV Servizi, as well as energy sales between Hera Comm and CMV Energia e Impianti, was approved today by the respective Shareholders Meetings. Hera Group: CMV Servizi and CMV Energia e Impianti Following up on the steps taken during the past few weeks in all Town Councils involved, the project aimed at integrating natural gas distribution between Inrete and CMV Servizi, as well as energy sales between Hera Comm and CMV Energia e Impianti, was approved today by the respective Shareholders Meetings. After the go-ahead given by the Boards of Directors on 24 October and the following phases completed in the Town Councils involved, today the Shareholders Meetings of the companies involved approved the project aimed at integrating the energy activities carried out by CMV Servizi and CMV Energia e Impianti into the Hera Group, respectively becoming part of Inrete Distribuzione Energia for natural gas distribution and Hera Comm for energy sales. Following the operation, which will allow a solid industrial project to be developed in the area surrounding Ferrara, the Municipality Shareholders of CMV Servizi and CMV Energia e Impianti, including the majority shareholder Municipality of Cento and the Municipalities of Vigarano Mainarda, Bondeno, Poggio Renatico, Terre del Reno and Goro, will increase their shareholding in the Hera Group. The integration concerns roughly 25,000 customers (21,300 in gas and 3,500 in electricity) and approximately 30,000 delivery points (26,500 in the Ferrara area and over 3,100 in the Bologna area) for natural gas distribution. The personnel currently employed in the two branches of operations carried out by CMV Servizi e CMV Energia e Impianti is expected to be maintained, as are the local service points, which will come together with other Hera Group activities in the same area. The integrated activities will be able to take advantage of Group solutions and policies, benefitting the quality and innovativeness of the services offered to customers. "The Ferrara area is one to which we are historically tied, and this double operation allows us to consolidate our presence here, following a rationale of valorising services that gives centre stage to the customers and communities concerned, creating efficiency and maintaining our local presence" states Stefano Venier, CEO of the Hera Group. "The actual integration of the companies involved will become operational within the first quarter of 2019. Our objective is to extend to the province of Ferrara a business model that, over time, has amply demonstrated the advantages it brings to all those participating, whether public or private." "I am particularly satisfied with the excellent outcome of the operation, and would like to thank all those who made efforts towards it, as well as Hera, for its precious collaboration" states the Mayor of Cento, Fabrizio Toselli. "Unquestionably strategic for our companies, it will allow them to become more balanced, and will guarantee the continuity provided by an industrial project, for the Local Administration, which among other things will free up a 6 million euro surplus for 2019. This will allow us to lower our debt (in loans) and implement significant investments for the entire area, in terms of employment, services, local presence and spin-offs. The path undertaken will now continue with the merger of Cmv Energia & Impianti into Area Impianti, as defined since the birth of Clara." 20181220_Gruppo_Hera_su_integrazione_attivita_energy_CMV_eng.1545991863.pdf 2018-12-20 16:50:00 CMV Servizi and CMV Energia e Impianti's energy activities part of the Hera Group as of 1 March

2018-12-10 Newco Lux-on created by Bio-on, alongside Gruppo Hera, to develop a revolutionary technology to produce biopolymers from CO2 (carbon dioxide). Newco Lux-on created by Bio-on, alongside Gruppo Hera, to develop a revolutionary technology to produce biopolymers from CO2 (carbon dioxide). Following 2 years of research by Bio-on scientists working in Italy and USA, the new technology uses CO2 freely available in the atmosphere as a carbon source to produce 100% natural and biodegradable bioplastic. CO2 is added to the other "raw materials" already used to make Bio-on bioplastic: sugar beet and sugar cane molasses, fruit and potato waste, carbohydrates, glycerol and waste frying oil. Using CO2 will also help reduce the amount of carbon dioxide in the atmosphere. Lux-on's bioplastic production will rely solely on renewable solar energy and, thanks to a hydrogen energy management system, will run 24/7. Bio-on, a leader in the high quality bioplastic sector, and Gruppo Hera, one of Italy's largest multi-utility providers, have reached an agreement to take 90% and 10% shares respectively (with the possibility of Hera increasing its share to 49.9%) in LUX-ON, the new company founded by Bio-on aiming to revolutionise the production of PHAs biopolymers using CO2 captured from the atmosphere and producing energy without using fossil fuels. The new technology developed by Bio-on envisages using carbon dioxide as a zero cost "raw material", in addition to those already used to produce Bio-on bioplastic: sugar beet and sugar cane molasses, fruit and potato waste, carbohydrates, glycerol and waste frying oil. Using CO2 will also help reduce the amount of carbon dioxide in the atmosphere. The laboratories and first plant of the new Lux-on project will be built by the end of 2019 close to the Bio-on Plants industrial facility at Castel San Pietro Terme (Bologna). It will be designed entirely by Bio-on technicians in collaboration with Hera, with carbon capture plants and a production facility using renewable solar energy. The development of the technology will be aided by the fact that many of the principles and equipment used in the standard technology can also be used in Lux-on's new production systems. This is why the development and pre-industrial phase will be much faster than usual. The plant will occupy an area of 1,500 m2, 600 m2 of which is covered, and will have a flexible production capacity that is rapidly expandable. The electric energy used in Lux-on's innovative production process will be produced by photovoltaic systems which, aside from directly powering production, will also provide storable energy for nocturnal power (24/7 production). For energy storage, partnerships will be entered into with international experts in hydrogen (H) technology. Hydrogen, a nonpolluting gas, will be produced from solar energy, stored and then converted to electric energy to power the plant hen the solar panels are not running, i.e. at night or when light levels are poor. "We are extremely pleased to work with HERA," explains Bio-on S.p.A. Chairman and CEO Marco Astorri. "The great technological innovation used at Lux-on enables us to increase the industrial sustainability of a new production concept. We are particularly proud to realise humanity's dream to capture CO2 from the atmosphere and produce innovative materials like our PHAs biopolymer. We are ready to face this new challenge, which will further extend our client base in the coming years, consolidating Italy's global leadership in high quality biopolymer production." Following a year of major agreements, fast-growing company Bio-on, is set to begin 2019 with new strategic projects,including its collaboration with Hera. The agreement also envisages a second development line aimed at identifying sustainable by-products for biopolymer production. Renamed PHA-CEL by Hera, this consists in transforming cutting and pruning cellulose into simple sugars that can then be used in fermentation following an enzymatic treatment. This process is made possible by the treatment technology, developed by Gruppo Hera, which is also assessing how to apply it to biogas and biomethane production from cuttings and prunings. All the PHAs (polyhydroxyalkanoates) developed by Bio-on are made from renewable plant sources with no competition with food supply chains, and from CO2 in the coming years. They can replace a number of conventional polymers currently made with petrochemical processes using hydrocarbons; they guarantee the same thermomechanical properties as conventional plastics with the advantage of being completely eco-sustainable and 100% naturally biodegradable. The agreement between the two companies has come out of a highly dynamic territory that represents the technological cutting edge in Italy to be exported around the world. "For Gruppo Hera, which uses innovation and sustainability as the foundations of its multi-utility business," explained Tomaso Tommasi di Vignano, Executive President of Gruppo Hera, "taking a share in the new company founded by Bio-on is the representation of a natural coming together of intentions and an alliance that we believe can be developed successfully beyond our territory and across various sectors. With the breadth and quality of our services, this agreement will give further, fundamental green credentials to a project like Lux-on, which aims to change the bioplastics world, not to mention the joint commitment to transform cuttings and prunings. Considering that Hera collects 200 thousand tons of cuttings and prunings every year, which can be transformed into bioplastic using our technology, this sector has huge growth potential." Further technical information is available in a video at: www.lux-on.com Gruppo Hera It is one of Italy's largest multi-utility providers working in Environment (waste collection and treatment), Energy (electricity and gas distribution and sale) and Water (waterworks, sewers and purification). The Group employs over 9,000 people and works every day to meet the many and varied needs of over 4.4 million citizens. It serves over 350 local municipalities mainly in the Emilia Romagna, Marche, Tuscany, Abruzzo, Veneto and Friuli Venezia Giulia regions. Bio-on S.p.A. Bio-on S.p.A., an Italian Intellectual Property Company (IPC), operates in the bioplastic sector conducting applied research and development of modern bio-fermentation technologies in the field of eco-sustainable and completely naturally biodegradable materials. In particular, Bio-on develops industrial applications through the creation of product characterisations, components and plastic items. Since February 2015, Bio-on S.p.A. has also been operating in the development of natural and sustainable chemicals for the future. Bio-on has developed an exclusive process for the production of a family of polymers called PHAs (polyhydroxyalkanoates) from agricultural waste (including molasses and sugar cane and sugar beet syrups). The bioplastic produced in this way is able to replace the main families of conventional plastics in terms of performance, thermo-mechanical properties and versatility. Bio-on PHAs is a bioplastic that can be classified as 100% natural and completely biodegradable: this has been certified by Vincotte and by USDA (United States Department of Agriculture). The Issuer's strategy envisages the marketing of licenses for PHAs production and related ancillary services, the development of R&D (also through new collaborations with universities, research centres and industrial partners), as well as the realisation of industrial plants designed by Bio-on. CS_69_BIO_ON_10_12_2018_final_E.1544431372.pdf 2018-12-10 08:00:12 lux_on_110x150.1544432143.jpg

2018-12-07 The tender, worth 28.5 million euro, was awarded to a temporary association headed by the Hera Group, Italy's leader in waste treatment. Work will begin in 2019 and will lead to an overall redevelopment of the port area, with new quays constructed using inert materials deriving from reclaimed areas previously containing landfills. The tender, worth 28.5 million euro, was awarded to a temporary association headed by the Hera Group, Italy's leader in waste treatment. Work will begin in 2019 and will lead to an overall redevelopment of the port area, with new quays constructed using inert materials deriving from reclaimed areas previously containing landfills. Undertaking significant reclamation works in the Chioggia port area, redeveloping it and thus bringing it back to life. This is the commitment that brought a temporary association of businesses led by Herambiente, a Hera Group company and the country's foremost operator in the waste treatment sector, to be awarded a public tender for the reclamation of strategic areas linked to this important seaport. The tender, amounting to 28.5 million euro, was announced by A.S.Po, Azienda Speciale del Porto di Chioggia, owned by the Venice-Rovigo Chamber of Commerce. The technical partners included in the temporary association are CGX Costruzioni Generali Xodo Srl, Idea Srl and Rossi Renzo Costruzioni Srl, all companies located in the Veneto region. The tender contract, which launches the works, was signed this morning by Damaso Zanardo, chairman of A.S.Po, and Andrea Ramonda, Herambiente CEO. More specifically, the works will begin in 2019 and will involve a general redevelopment of some areas of the fluvial-maritime terminal in Val da Rio di Chioggia. On the one hand, an area of 6 hectares will be reclaimed, which from 1961 to 1984 had been used as a landfill for solid waste produced in the municipality of Chioggia. This operation is strategic for the entire area, since the tender, in line with the principles of a circular economy and the many senses in which the Hera Group works towards it, also calls for inert materials to be recovered. Coming to 80% of the total waste, these materials will be used to create some of the port's quays, thus increasing the project's overall sustainability. In this way, all of Herambiente's know-how regarding reclamation is made available to the Chioggia area, this being a field in which the company belonging to the Hera Group can boast a large amount of experience and extremely high quality and safety standards. Its research, analyses and projects allow the parameters of each and every intervention to be clearly defined. Herambiente's reclamation department, from this point of view, offers an integrated service that in every phase of the process guarantees full respect for the environment, for current regulations and, to be sure, for the basic principles of a circular economy. "To reclaim an area", explains Tomaso Tommasi di Vignano, Executive Chairman of the Hera Group, "a significant amount of knowledge, resources and professional skills is required. Acting through Herambiente, we are proud to be able put all of this to the service of Chioggia. Our goal is to work towards an overall redevelopment of the port area, taking one specific step at a time, as defined by in-depth studies of the context in which we are about to operate. Moreover, the Adriatic coastline is an area we prize highly and on which we have done a great deal of work, not only in the Veneto region but also in Emilia-Romagna and Friuli Venezia Giulia. The experience we have accumulated will allow us to apply to Chioggia as well a model that is able to guarantee a high degree of efficiency and environmental and economic sustainability." "The deal signed, intensely pursued by the Board, is fundamental in giving new impetus to the Chioggia seaport as a Commercial, Fluvial, Maritime and Tourist Port", comments Damaso Zanardo, chairman of A.S.Po Chioggia. "It will give continuity to the marketing initiatives we have launched in the last few months, demonstrating both how attractive this port is and that a few initial, concrete signs can now be seen that the international economic crisis is being overcome. The professional skills possessed by a group such as Hera, Italy's leader in waste treatment, guarantees that the operation will be carried out with high levels of quality, efficiency and environmental sustainability". CS_69_BIO_ON_10_12_2018_final_E.1544517804.PDF 2018-12-07 12:28:00 Herambiente si aggiudica la bonifica del porto di Chioggia

2018-11-26 Nuova_Palazzina_1_870x.1533219432.jpg The remaining 51% of the company, headquartered in Atessa (Chieti) and providing natural gas sales to approximately 7,000 customers, has now been purchased. The transaction, completed under the same terms as the first stage of the acquisition as finalised last March, allows the Group to further consolidate its presence and local roots in Abruzzo. Hera Group acquires 100% of Sangroservizi The Hera Group, through its subsidiary Hera Comm, has acquired the remaining 51% of Sangroservizi form the Municipalities of Atessa, San Vito Chietino and Paglieta, reaching a 100% shareholding. The transaction was carried out under the same terms as the first stage of the acquisition, completed on 20 March 2018. Established in 2003 and legally headquartered in Atessa, Sangroservizi is a company operating in natural gas sales with roughly 7,000 customers. This transaction follows up on the acquisitions of Fucino Gas, Alento Gas, Julia Servizi Più, Gran Sasso,Verducci Servizi, Enerpeligna and Blu Ranton over the last three years, thanks to which the Hera Group has become a reference operator for the Abruzzo and nearby Marche regions. The company already provides electricity and gas services to over 250,000 customers in these areas. Hera thus continues to develop a model that brings the local, material presence typical of smaller companies together with the potential for innovation in services and offers and the competitiveness ensuing from being part of a Group that is among the major players in Italy's energy market. "We are glad to welcome Sagroservizi's customers, confirming our commitment to a maintained presence in this area", remarks Cristian Fabbri, Hera Comm CEO. "In the upcoming months, we will gradually introduce numerous new services and new offers for gas. Furthermore, it will become possible quite soon to choose offers for electricity supply and services aimed at saving energy and optimising energy and gas management. We are at work every day to offer a service ever more closely tailored to the needs of our most demanding customers". Hera Group acquires 100% of Sangroservizi 20181126_comunicato_su_acquisizione_Sangroservizi_ok_eng.1543238511.pdf 2018-03-09 12:48:00 Read more Hera acquires 2.5% of Ascopiave's share capital from Amber

2018-11-23 This partnership will allow the oil collected by Hera (800 tons in 2017) to be converted into Eni Green Diesel at Eni's Venice bio-refinery. The environmental benefits are significant, with a reduction of up to 40% in polluting emissions. Bologna, 23 November 2018 - Eni and Hera are two companies that have long been committed to promoting a circular economy model by continuously developing the technology and organization of their businesses. Today they signed a partnership agreement with the aim of converting used vegetable oil into biofuel for Hera's waste collection vehicles. The agreement revolves around household waste vegetable oil, such as that used for frying, collected by Hera in around 400 roadside containers and about 120 collection centres. It will be sent to the Eni bio-refinery in Porto Marghera, Venice. This is the first oil refinery in the world to be converted into a bio-refinery for the production of Green Diesel, a completely renewable product that accounts for 15% of Enidiesel+. This biofuel will power Hera's urban waste collection vehicles. During an initial phase, Enidiesel+ will be used by around thirty large vehicles in the Modena area to test and optimise the fuel's environmental benefits. The deal signed today extends the already thriving virtuous circle Eni has established with multi-utility companies in Turin, Venice and Rome. Results from tests have shown major benefits in terms of air quality, the economy and industry. Compared to conventional diesel, Enidiesel+ features a renewable component that reduces polluting emissions by up to 40%, consumption by about 4% and engine maintenance costs. These metrics be monitored by both companies in collaboration with the Institute for Engines (Istituto Motori) at the National Research Council of Italy (CNR). To further support of the initiative, Hera has decided to boost the roadside collection of vegetable oil by introducing 300 new dedicated containers in the areas in which it operates. In 2017 alone, 800 tons of waste vegetable oil were collected, recovered and processed for use either as lubricants or energy. This service is increasingly comprehensive. It also provides an incentive to properly recycle waste oil and also works to prevent behaviour such as pouring oil down the sink, which damages household plumbing and water treatment plants. "The refinery in Venice is the first in the world to be converted into a bio-refinery and will be joined in a few months by the Gela refinery, which is also being calibrated for the bio-cycle," commented Giuseppe Ricci, Eni Chief Refining & Marketing Officer. "Eni has begun the journey towards an energy transition that envisages an increasingly important role for biofuels in the process of decarbonising our planet. The agreement with Hera adds a significant component to our concrete commitment to the circular economy and reinforces the use of waste, specifically cooking oil, as an important raw material for producing the innovative fuel Enidiesel+ and as a replacement for the edible raw materials that are currently used. As a result of the initiatives and deals that Eni has developed following the agreement with CONOE (National Consortium for the Collection and Treatment of Used Oils and Fats) and its individual members, more than 50% of the cooking oil collected in Italy is now converted into biofuel at the Venice bio-refinery, with clear benefits for the environment and the economy." "An economic model is truly circular if it addresses the entire life cycle of resources, with genuine partnerships among the businesses involved and residents. It would go beyond merely managing the final stage of collecting waste that perhaps has been delivered to third parties," explained Stefano Venier, Chief Executive Officer of the Hera Group. "Hera is therefore committed not only to extending the life cycle of materials through recycling and reuse initiatives, but also to developing solutions and plants that can turn substances into new products or draw energy from them, especially within the bio-based supply chain. Our agreement with Eni continues in this direction. It has identified a new way in which we can use waste resources to contribute to decarbonisation and energy efficiency. Waste oil that becomes advanced biofuel with a reduced carbon footprint and is reused for waste collection is a perfect example of the circular economy, one that adds to the progress of the many initiatives we've already launched in this area." ENG_Eni_Hera_23_November_2018.1542978261.pdf 2018-11-23 13:00:00 Hera Spa

2018-11-08 Results as at 30 September 2018 Consolidated 3Q results at 30 September confirm the growth in operating and financial indicators already seen in the first half of the year, with positive contributions coming from the different Group's business areas, gas and waste management in particular. /documents/1514726/4667212/GruppoHera_Consolidated_ThirdQuarterReport30September2018_eng.1541672459.pdf/4efd185a-8a09-4b8c-a66a-ef1134973617?t=1608550214672 /documents/1514726/4880892/GruppoHera_AnalystPresentation_3Q2018.1541667701.pdf/80211312-b744-bbd1-67b4-f34d827d274e?t=1610019123913 http://investornews.gruppohera.it/en/?n=57 https://eng.gruppohera.it/documents/1514726/4210710/Dati_finanziari_ed_operativi_di_sintesi_9M_2018_eng.1541601540.xls/d1d59596-0dd4-d19b-53fb-9b1dd18b0f90?t=1597907689072 /group_eng/investor-relations/results-and-presentations/interactive-data Financial report as at 30 September 2018 Analyst presentation: Results as at 30 September 2018 Newsletter 3Q 2018 Financial data: Results as at 30 September 2018 Interactive data Financial highlights Revenues at € 4,348.4 million (+8.0%) Ebitda at € 748.6 million (+3.3%) Net profits for Shareholders at € 208.7 million (+14.1%) Net debt at € 2,642.0 million Operating highlights Good contribution to growth coming from all businesses and gas in particular Good results achieved through internal growth Solid customer base in Energy (approximately 2.5 million), rising by approximately 100,000 over the first three quarters of 2017 Sorted waste increases to an average of 61.4% across all areas served Today, the Hera Group’s Board of Directors unanimously approved the consolidated financial results at30 September 2018, which confirm the positive trend in operating results seen in previous quarters and show further improvement in financial and fiscal management. These results once again reward the Group’s balanced and agile way of operating, following a business model that has always combined the strategic levers of internal and external growth. In addition to remarkable internal growth, partially deriving from higher efficiencies, developments in market shares and an increase in volumes sold in the energy sector both contributed to the accounts for the first three quarters of 2018. Revenues rise to € 4,348.4 million In the first nine months of 2018, revenues amounted to € 4,348.4 million, up 8% over the € 4,027.8 million seen at 30 September 2017, with a contribution coming from all business areas. In particular, trends in gas and electricity trading and sales benefitted from an increase in volumes. Ebitda increases to € 748.6 million The Group’s consolidated Ebitda at 30 September 2018 grew from € 724.7 to € 748.6 million (+3.3%). This result is due to the good performance seen in all main activities, and the gas sector in particular, whose contribution included rising earnings derived from sales and trading. Positive results were also seen in the integrated water cycle and waste management areas. Ebit and pre-tax profits grow, owing in part to financial management Ebit grew to € 376.5 million, up compared to the € 357.9 seen at 30 September 2017 (+5.2%), while pre-tax profits rose to € 311.0 million, as against the € 283.5 seen at the same date in 2017 (+9.7%). This was due to financial management, which in the first nine months of 2018 improved by € 8.9 million compared to 30 September 2017, settling at € 65.5 million, with aperformance partly made possible by efficiency in rates and higher financial income for commercial activities. Net profits for Shareholders increase to € 208.7 million (+14.1%) Profits pertaining to Group Shareholders rose to € 208.7 million, compared to the € 182.9 million recorded at 30 September 2017 (+14.1%), for reasons including a tax rate coming to 30.1%, an improvement over the 32% seen in the same period of the previous year. The considerable investments made by the Group in Utility 4.0 projects allowed fiscal optimisation opportunities to be grasped, thanks to incentives for large and very large amortisations. Approximately € 300 million in investments, and an essentially stable financial position The Group’s operating investments at 30 September 2018, including capital grants, amounted to € 296.6 million, up 7.0% over the same period in 2017 and in line with the content of the Business plan. Operating investments mainly concerned work done on plants, networks and infrastructures, in addition to regulatory upgrading, above all concerning gas distribution with a large-scale metre substitution, and the purification and sewerage activities. Net debt came to € 2,642.0 million at 30 September 2018, essentially stable compared to the € 2,610.0 million recorded after the first nine months of 2017, considering the dividends paid. Gas Ebitda for the gas business, which includes services in natural gas distribution and sales, district heating and heat management, reached € 222.2 million at 30 September 2018, up 10.3% over the same period one year earlier thanks to commercial development, higher intermediated volumes and higher revenues for distribution services. The number of gas customers came to 1.413 million in the first nine months of 2018, rising by 1.6% over the same period in 2017. This growth was caused by an expansion in market share and by the companies Blu Ranton and Verducci Servizi becoming part of the Group’s consolidated scope. The gas business accounted for 29.7% of Group Ebitda. Water cycle Ebitda for the integrated water cycle, which includes aqueduct, purification and sewerage services, increased by 4.4%, going from € 178.3 million in September 2017 to € 186.2 million at 30 September 2018, thanks to higher revenues from dispensing, higher recognised costs and the efficiencies reached. The integrated water cycle accounted for 24.9% of Group Ebitda. Waste management The results for the waste management, which includes services in waste collection, treatment, recovery and disposal, also showed increasing figures, with Ebitda going from € 181.4 million at 30 September 2017 to € 188.2 million at the same date in 2018 (+3.7%). This trend was largely caused by changes in the prices set for waste treatment, along with increased results from Aliplast. Further growth was also seen in sorted waste, which went from 56.6% during the same period in 2017 to 61.4% at 30 September 2018, thanks to the numerous services offered. In the month of September, moreover, the Sant’Agata Bolognese biomethane production plant was launched, fully respecting the timing set out in the Business plan. The waste management area accounted for 25.1% of Group Ebitda. Electricity Ebitda for the electricity business, which includes services in electricity generation, distribution and sales, went from € 147.4 million in the first nine months of 2017 to € 133.2 million at 30 September 2018. Sales and trading results benefitted from a higher amount of intermediated volumes (+15.5%) and the enlarged customer base (+7.8%, reaching 1.039 million), thanks to increased market shares and a wider scope of operations. This result partially offset the effect coming from a few suspended generation plants, which became fully functional once again in the third quarter. The electricity business accounted for 17.8% of Group Ebitda The manager responsible for drafting the company’s accounting statements, Luca Moroni, 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 third-quarter management report and related materials are available to the public at Company Headquarters and on the website www.gruppohera.it. Unaudited extracts from the Intermediate Management Report at 30 September 2017 are attached. news_engnewsProfit & Loss (m€) 30/09/2018 Inc% 30/09/2017 Inc.% Ch. Ch. % Sales 4,348.4 4,027.8 +320.6 +8.0% Other operating revenues 321.1 7.4% 327.3 8.1% -6.2 -1.9% Raw material (1,966.6) -45.2% (1,776.4) -44.1% +190.2 +10.7% Services costs (1,529.2) -35.2% (1,428.6) -35.5% +100.6 +7.0% Other operating expenses (42.9) -1.0% (45.3) -1.1% -2.4 -5.3% Personnel costs (410.1) -9.4% (409.1) -10.2% +1.0 +0.2% Capitalisations 28.0 0.6% 29.1 0.7% -1.1 -3.8% Ebitda 748.6 17.2% 724.7 18.0% +23.9 +3.3% Depreciation and provisions (372.2) -8.6% (366.8) -9.1% +5.4 +1.5% Ebit 376.5 8.7% 357.9 8.9% +18.6 +5.2% Financial inc./(exp.) (65.5) -1.5% (74.4) -1.8% -8.9 -12.0% Pre tax profit 311.0 7.2% 283.5 7.0% +27.5 +9.7% Tax (95.1) -2.2% (90.7) -2.3% +4.4 +4.9% Net profit before special items 215.9 5.0% 192.8 4.8% +23.1 +12.0% Special items 4.8 0.1% - 0.0% +4.8 +100.0% Net profit 220.7 5.1% 192.8 4.8% +27.9 +14.5% Attributable to: Shareholders of the Parent Company 208.7 4.8% 182.9 4.5% +25.8 +14.1% Minority shareholders 11.9 0.3% 9.9 0.2% +2.1 +20.9% Balance Sheet (m€) 30/09/2018 Inc.% 31/12/2017 Inc.% Ch. Ch.% Net fixed assets 5,837.0 107.2% 5,780.6 110.5% +56.4 +1.0% Working capital 186.4 3.4% 23.2 0.4% +163.2 +703.4% (Provisions) (578.5) (10.6%) (574.8) (10.9%) (3.7) +0.6% Net invested capital 5,444.9 100.0% 5,229.0 100.0% +215.9 +4.1% Net equity 2,802.9 51.5% 2,706.0 51.7% +96.9 +3.6% Long term net financial debt 2,841.9 52.2% 2,735.4 52.4% +106.5 +3.9% Short term net financial debt (199.9) (3.7%) (212.4) (4.1%) +12.5 (5.9%) Net financial debts 2,642.0 48.5% 2,523.0 48.3% +119.0 +4.7% Net invested capital 5,444.9 100.0% 5,229.0 100.0% +215.9 +4.1% Press Release Q32018 2018-11-06 13:00:00 be_110x150.1525945155.png

2018-10-25 The Hera Group's top management and regional alderwoman Gazzolo inaugurated today, just outside Bologna, the first biomethane-from-organic-waste plant created by a multi-utility. Investments totalling 37 million euro have thus given new impetus to the future of renewable energies on an industrial scale, with 7.5 million cubic metres of biomethane and 20 thousand tonnes of compost sustainably fuelling, each year, a range of sectors including motor vehicle transport and agriculture. biomethane plant How can energy amounting to 6 thousand tonnes of oil equivalent be obtained each year, without consuming a single drop of crude oil and thus avoiding 14,600 tonnes of CO2 emissions? As of today, the answer can be found in Sant'Agata Bolognese, just outside the capital city of the Emilia-Romagna region, where the Hera Group has inaugurated a major plant producing biomethane from the organic portion of waste, designed and created on the basis of the most advanced precedents seen in this sector internationally. The opening ceremony - that saw the participation of the region's alderwoman Paola Gazzolo, Hera's top management and the main local and sector institutions - ushered in a new phase in the decarbonisation of energy production, giving further impetus to the circular economy towards which the region has been moving for some time now. Thanks to this plant, indeed, sorted organic waste coming from our houses will serve the community under the form of gas. Once injected into the network, this gas will fuel public and private transportation vehicles running on natural gas, aiding a sector that is increasingly exposed to the issue of carbon dioxide emission. In line with policies adopted by the Region, the National Energy Strategy and the European Union, the Sant'Agata Bolognese plant will now begin extracting value from this 37 million euro investment. The plant furthermore represents an enrichment of the range of plants belonging to Herambiente, the national leader in waste treatment that has been active for years in biogas production for renewable electricity. A 100% renewable combustible from organic waste In terms of volume, the plant is capable of treating 100 thousand tonnes of sorted organic waste each year, in addition to 35 thousand tonnes resulting from plant clipping and pruning. Thanks to the implementation of new and improved technologies in anaerobic digestion and upgrading, in particular, these resources will allow 7.5 million cubic metres of biomethane, a 100% renewable combustible, to be obtained along with 20 thousand tonnes of compost, a bio-fertiliser mainly intended for agriculture. An architectural project conceived to bring the plant and the area served into harmony, minimising its environmental impact With no combustion plants whatsoever, the plant is located within a pre-existing composting site, with no additional land use required for its construction. Planned with an eye to minimising its acoustic and odoriferous impact, the structure furthermore meets architectonic criteria aimed at harmonising it with the surrounding area. Even its outer covering, which will be added over the next few months, will be dense with themes and motifs that relay the sense of what goes on inside: in particular, images will portray vegetation blossoming out of an arid and cracked ground, calling to mind the transformations undergone by the organic product within the plant. Lastly, a redevelopment of the surrounding green areas will be accompanied by the creation of a path intended to welcome those visiting the plant itself. "We have been working with biomethane for some time now", comments Tomaso Tommasi di Vignano, Executive Chairman of the Hera Group. "Today's inauguration, in particular, is a crowning achievement that represents years of work. Our community will now be served by a plant born out of research, studies and European tenders that allowed us to choose the best of what is currently available on the market. What's more, renewable energies must necessarily become part of industrialisation processes capable of expressing their potential on a large scale. In this sense the Sant'Agata plant is an excellent example that can be replicated elsewhere, above all in light of a regulatory framework that is finally favourable and provides fundamental added value for sector development." "The ribbon has been cut in front of a highly innovative construction project that moves towards an energy transition, pointing in the direction of a low carbon economy: biomethane presents a significant opportunity for reducing the use of fossil fuels and lessening our region's energy footprint, with an eye to a circular economy", states the alderwoman of the Emilia-Romagna Region, Paola Gazzolo. "Renewable energy is a fundamental part of the green turn supported by the Emilia-Romagna government with the policies implemented since the beginning of its mandate. This change of pace is intended to offset the effects of climate change as currently seen and reduce the use of raw materials, promoting recovery and reuse. Precisely because these products and materials are available in limited quantities, we must save them and preserve their value: the project realised by Hera in Sant'Agata is headed in exactly this direction". 20181025_Biometano_il_futuro_dellenergia_green_passa_da_SantAgata_Bolognese_final_eng.1540462958.pdf 2017-06-23 13:17:00 biomethane plant

2018-10-24 Approval arrived today for the agreements concerning a planned integration between the natural gas distribution services provided by Inrete and CMV Servizi, as well as energy sales activities of Hera Comm and CMV Energia e Impianti. Hera Spa Today, the Boards of Directors of the companies involved began a process aimed at developing a solid business project in the northern Ferrara area, bearing on CMV Servizi and CMV Energia e Impianti, both active in the energy sector. The two companies are owned by the Municipalities of Cento, Vigarano Mainarda, Bondeno, Poggio Renatico, Terre del Reno and Goro, which following the transaction will see an increase in their shareholding in the Hera Group. The agreement's implementation is subject to the customary conditions applied in similar transactions, as well as the approval of the various shareholders in their respective meetings, as is expected within the end of the year. The transaction will concern roughly 25 thousand customers (21,300 in gas and 3,500 in electricity) and approximately 30 thousand delivery points (26,500 in the Ferrara area and over 3,100 in the area surrounding Bologna) in natural gas distribution. Following the transaction, the personnel currently employed in the two branches of activity of CMV Servizi and CMV Energia e Impianti will be maintained, as will the local business units, which will converge towards other activities carried out by the Hera Group in the same area. CMV will be able to adopt many Group solutions and policies, going to the advantage of the quality and innovative nature of the service offered to its customers. GH_CMV_press_release_eng.1540394806.pdf 2018-10-24 19:05:46 CMV Servizi and CMV Energia e Impianti's energy activities part of the Hera Group as of 1 March

2018-09-06 Logo_Thomson_Reuters_250x_s1_1507625922.1533221375.jpg Conceived to provide orientation for investors showing interest towards companies committed to promoting diversity, inclusion and people development, this index evaluates over 7,000 of the world's publically listed companies and this year, once again, includes the Group among the most outstanding firms. With 73.5 points overall, Hera indeed comes in 2nd in Italy and 22nd worldwide. And, among multi-utilities, it ranks first in the world. Thomson & Reuters The Hera Group has been confirmed as one of the most interesting companies, in Italy and worldwide, for investors who sustain all those committed to promoting diversity and inclusion. The results, which stem directly from the integration of these policies within the Group's strategy, have been approved by the 2018 edition of Thomson Reuters Diversity and Inclusion Index, whose candidate universe is made up of over 7,000 publicly traded companies worldwide. Hera, with a score of 73.5 points, proved to be the 2nd company in Italy and the 22nd across the world of this international ranking. Moreover, its position within its own sector was outstanding, coming in first worldwide among multi-utilities. The "Diversity and Inclusion Index" is an indicator, conceived and realised by Thomson Reuters, an international giant in financial information, that analyses companies' performances based on a range of factors, grouped into four areas: diversity, inclusion, people development and news & controversies. The performances of the Hera Group were therefore highly positive: giving concrete form to the strategic relevance of its diversity and inclusion policies, this multi-utility is indeed continuing its work in developing internal and personalised career paths, an approach that allowed the company to reach an amount of women in roles with responsibility coming to 31.3% in 2017. Rising overall, the percentage of female personnel furthermore ranked above the sector average (24.3%, as compared to 15.9%). This data is accompanied by a percentage of employees with disabilities that reaches 4.3% of the company's total workforce and also includes roles in management. From all these points of view, the contribution coming from training is significant, with particularly important initiatives such as leadership and smart working courses favouring the development of human resources, based on factors including the diverse characteristics of each resource (gender, age, training, ability, inclination and ability). Further positive effects no doubt derived from the corporate welfare plan, which sustains employees and their families in many different forms. Not by chance, encouraging results continue to emerge from this enquiry into the Group's corporate milieu, with further confirmation coming from a complete lack of controversies involving diversity and inclusion. Lastly, many initiatives make plurality management concrete, including agreements with daycare centres, summer camps, a range of programmes aimed at creating a positive work-life balance and the arrangements made for leave time, available not only for mums and dads but also for those who provide assistance to relatives or the elderly. The Hera Group's commitment to policies promoting inclusion and diversity, in any case, has a long history. It was first consolidated in 2009, when the Charter for equal opportunity and equality on the workplace was signed: with this document the company engaged, alongside other private and public bodies, in the struggle against discrimination on the workplace. The introduction in 2011 of a Diversity Manager, whose task involves giving even greater emphasis to developing policies aimed at inclusion and the valorisation of diversity, was also fundamental. Lastly, for some time now Hera has adhered to the fifth of the United Nation's objectives for sustainable development, specifically dedicated to gender equality. "Diversity has great value for us at the Hera Group", comments Stefano Venier, Group CEO. "Over the years, we have resolutely introduced policies aimed at favouring insertion, integration and growth among our employees. Over one fifth of the latter are in fact women, a figure that rises to 31.3% in management, far above the average seen in the sector. This result must be considered alongside the positive outcome of the welfare policies launched in 2016, giving particular attention to balancing the home and the workplace: the welfare plan, which concerns the Group's almost 9 thousand employees, has gained a virtually unanimous consensus and has enriched a service offer whose value comes to over 3.5 million euro each year." 06092018_CS_diversity_inclusion_eng.1536227548.pdf 2017-06-23 sinistra 11:26:00 Read more Thomson & Reuters

2018-07-30 Results as at 30 June 2018 The consolidated half-year report at 30 June confirms growth in operating and financial indicators, in line with the first quarter, with a positive contribution coming from business areas, gas and waste management in particular. Thanks to the efficiencies achieved, ROE reaches 10% Hera BoD approves 1Q 2018 results /group_eng/investor-relations/results-and-presentations/1h2018 /documents/1514726/4880892/GruppoHera_relazione_semestrale_consolidata_al_30_06_2018_eng.1533290641.pdf/61b32b21-49d9-70cc-d10d-6383dfc8c8a2?t=1610019108070 /documents/1514726/4210713/Dati_finanziari_ed_operativi_di_sintesi_1H_2018_eng.1532612151.xls/82a13ce9-8ebb-99e2-2f9e-cebba27c7aa8?t=1597907726700 /documents/1514726/4880892/GruppoHera_Analyst_Presentation_1H_2018.1532936431.pdf/45de5ad1-4585-c1be-317d-aadef7a99760?t=1610019109893 /group_eng/investor-relations/results-and-presentations/archive/financial-benchmark http://investornews.gruppohera.it/en/?n=56 /group_eng/investor-relations/results-and-presentations/interactive-data First Half 2018 report in HTML format Financial Report as at 30 June 2018 Financial data as at 30 June 2018 Analyst presentation: H1 2018 Benchmark of consolidated results Newsletter: H1 2018 Interactive data Financial highlights Revenues at € 2,996.7 million (+7.7%) Ebitda at € 523.6 million (+3.5%) Ebit at € 273.6 million (+4.3%) Net profits for Shareholders at € 158.1 million (+12.1%) Net debt at € 2,625.0 million Operating highlights Good contribution to growth coming from gas and waste management, respectively due to volumes sold and positive trends in market prices Management characterised by the results of internal growth Solid customer base in energy sectors (roughly 2.5 million), up by 110,000 over 1H2017 Sorted waste increases to anaverage of 60% across all areas served Today, the Hera Group’s Board of Directors unanimously approved the financial results for the first half-year, which confirm the ongoing positive trend and show all main indicators rising. These results once again reward the Group’s balanced and agile way of operating, following a business model that has always combined the strategic levers of internal growth and external development. In addition to remarkable internal growth, partially deriving from higher efficiencies, developments in market shares and positive trends in tariffs and prices benefitted the accounts for the first half of 2018. Revenues amount to almost € 3 billion In the first half of 2018, revenues reached € 2,966.7 million, up € 212.7 million (+7.7%) over the € 2,754.0 million seen in the same period of 2017. The factors most responsible for this result include a higher amount of trading along with increased revenues from gas and electricity sales and waste management. Ebitda rises to € 523.6 million Ebitda settled at € 523.6 million, showing growth amounting to € 17.7 million (+3.5%) over June 2017. This increase is due to the good performances seen in all the Group’s main activities, and the gas area in particular thanks to higher volumes sold and income for sales and trading. Positive results also came from waste management and the integrated water cycle. Financial management among the factors responsible for an 8.4% increase in pre-tax profits Ebit rose to € 273.6 million, up 4.3% over the € 262.2 seen in the same period of 2017. Financial management also improved, settling at € 39.2 million, € 6.7 million less than the same period in 2017, a performance made possible by efficiency in rates and higher financial income for commercial activities. In light of this situation, pre-tax profits increased by 8.4%, going from € 216.3 million at 30 June 2017 to € 234.4 million at the same date in 2018. Sharp increase in net profits for Shareholders, reaching € 158.1 million (+12.1%) Profits pertaining to Group Shareholders at 30 June 2018 rose to € 158.1 million, +12.1% compared to the € 141.0 million seen in the first half of 2017. The elements underlying this result include an improvement in the tax rate, which went from 31.6% to 30.1%, thanks to the Group’s continuous commitment to grasping the tax opportunities offered by large and very large amortisations related to major investments made in introducing Utility 4.0, in addition to tax credits for research and development and the final balance on previously acquired benefits, as well as € 4.8 million in capital gains from divestments. Approximately € 184 million in investments, financial position essentially stable The Group’s operating investments for the first six months of 2018, including capital grants, amounted to € 183.8 million, up € 13.7 million (+8.1%) over June 2017. Operating investments mainly involved interventions on plants, networks and infrastructures, as well as regulatory upgrading involving gas distribution above all, with a large-scale metre substitution, and the purification and sewerage areas. Net debt came to € 2,625.0 million at 30 June 2018, with a slight increase over the € 2,523.0 million seen at 31 December 2017 but essentially stable compared to the € 2,611.7 million witnessed in the first half of 2017, in spite of the higher amount of dividends paid (9.5 cents/share, instead of the 9 cents paid one year earlier). Net debt/Ebitda, an indicator of financial solidity, improved from 2.74 in the first half of 2017 to 2.62 at 30 June 2018. Gas Ebitda for the gas area, which includes services in natural gas distribution and sales, district heating and heat management, reached € 188.4 million in the first half of 2018, up compared to the € 171.8 million seen at 30 June 2017 (+9.6%), thanks to higher volumes of gas sold, an increase in trading and higher income from distribution services. The number of gas customers, which came to roughly 1.41 million, rose by 1.9% compared to the same period in 2017; this growth was brought about by expanding market shares and the entry of Blu Ranton and Verducci Servizi within the Group’s scope of operations. The gas area accounted for 36.0% of Group Ebitda. Water cycle Ebitda for the integrated water cycle area, which includes aqueduct, purification and sewerage services, went from € 111.3 million in the first half of 2017 to € 112.8 million at 30 June 2018, up 1.3%, thanks to higher revenues from dispensing and higher recognised costs. The integrated water cycle area accounted for 21.5% of Group Ebitda. Waste management In the first half of the year, Ebitda for the waste management area, which includes waste collection, treatment and disposal services, reached € 125.9 million (+3.8%), rising over the € 121.3 million seen at 30 June 2017. Initiatives aimed at recovering materials and improving energy efficiency contributed to this positive trend, in particular the full operation of Aliplast, as well as further development of an accurately focused marketing plan intended to broaden the customer portfolio and a continuous presence in the tender market. Moreover, the positive trend seen in prices for special waste treatment continued during this half-year, with double-digit growth rate. Further increases were also witnessed in sorted waste, which went from 58% in the first half of 2017 to 60% at 30 June 2018, thanks to the numerous services offered. The waste management area accounted for 24% of Group Ebitda. Electricity Ebitda for the electricity area, which includes services in electricity production, distribution and sales, went from € 91.6 million in the first half of 2017 to € 84.0 million at 30 June 2018, owing to the temporary closure of a few plants for planned maintenance. This area recorded additional growth in total customers, which increased by 82.8 thousand (+8.9%) compared to the first half of 2017, reaching 1.01 million customers, and also saw a 22.1% rise in volumes sold on both the free and safeguarded markets. This noteworthy result owes much to the Group’s continuous reinforcement of marketing actions and a broadening of its customer base. The electricity area accounted for 16% of Group Ebitda. Statement by Executive Chairman Tomaso Tommasi di Vignano “This half-year report confirms the trend of uninterrupted growth shown by the Hera Group over the last 15 years, respecting the content of its Business plan, in spite of an often difficult macroeconomic scenario. At present, the increase in Ebitda indicates that we should reach the milestone of one billion by the end of 2018, while the profits accumulated over the last six months, corresponding to 10.8 cents per share, already entirely cover the 10 cent dividend foreseen by the Business plan for the current year. These figures and outlooks provide further confirmation of the solidity of our multi-business model and the constant attention we show towards our shareholders”. Statement by CEO Stefano Venier “The results for the first half of 2018 once again reward the accuracy of the choices and initiatives implemented regarding operations, taxes and finance. Internal growth, as defined by factors including the efficiencies achieved, has brought ROE to 10%. These results are also sustained by all quantitative performance measures, which show positive trends, with an energy customer base growing by 110,000 in only 12 months and bringing us just one step away from 2.5 million customers. Taken as a whole, these elements allow us to show further determination towards reaching all of the objectives outlined in the Business plan”. The manager responsible for drafting the company’s accounting statements, Luca Moroni, 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 half-year financial report and related materials will be made available to the public pursuant to the terms established by law at Company Headquarters, on the website www.gruppohera.it and on the authorised storage platform 1Info (www.1info.it). Unaudited extracts from the Abbreviated Consolidated Half-Year Financial Statements at 30 June 2017 are attached. Profit & Loss(m€) 30/06/18 Inc% 30/06/17 Inc.% Ch. Ch. % Sales 2,966.7 2,754.0 +212.7 +7.7% Other operating revenues 209.8 7.1% 202.3 7.3% +7.5 +3.7% Raw material (1,327.6) -44.7% (1,178.4) -42.8% +149.2 +12.7% Services costs (1,031.6) -34.8% (981.7) -35.6% +49.9 +5.1% Other operating expenses (30.3) -1.0% (25.8) -0.9% +4.5 +17.5% Personnel costs (281.7) -9.5% (282.4) -10.3% (0.7) (0.2%) Capitalisations 18.3 0.6% 17.9 0.6% +0.4 +2.2% Ebitda 523.6 17.6% 505.9 18.4% +17.7 +3.5% Depreciation and provisions (250.0) -8.4% (243.7) -8.9% +6.3 +2.6% Ebit 273.6 9.2% 262.2 9.5% +11.4 +4.3% Financial inc./(exp.) (39.2) -1.3% (45.9) -1.7% (6.7) (14.6%) Pre tax profit 234.4 7.9% 216.3 7.9% +18.1 +8.4% Tax (72.0) -2.4% (68.3) -2.5% +3.7 +5.4% Net profit before special items 162.4 5.5% 148.0 5.4% +14.4 +9.7% Special items 4.8 0.2% - 0.0% +4.8 +100.0% Net profit 167.2 5.6% 148.0 5.4% +19.2 +13.0% Attributable to: Shareholders of the Parent Company 158.1 5.3% 141.0 5.1% +17.1 +12.1% Minority shareholders 9.1 0.3% 7.0 0.3% +2.2 +30.9% Balance Sheet (m€) 30/06/2018 Inc.% 31/12/2017 Inc.% Ch. Ch.% Net fixed assets 5,828.2 109.1% 5,780.6 110.5% +47.6 +0.8% Working capital 84.2 1.6% 23.2 0.4% +61.0 +262.9% (Provisions) (571.8) (10.7%) (574.9) (10.9%) +3.0 (0.5%) Net invested capital 5,340.6 100.0% 5,229.0 100.0% +111.6 +2.1% Net equity 2,715.6 50.8% 2,706.0 51.7% +9.6 +0.4% Long term net financial debt 2,847.4 53.4% 2,735.4 52.4% +112.0 +4.1% Short term net financial debt (222.4) (4.2%) (212.4) (4.1%) (10.0) +4.7% Net financial debts 2,625.0 49.2% 2,523.0 48.3% 102.0 +4.0% Net invested capital 5,340.6 100.0% 5,229.0 100.0% +111.6 +2.1% Press release 1H2018 2017-05-08 12:29:53 Related contents be_110x150.1525945155.png