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