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S&P Global's Sustainability Award The Hera Group has received a worldwide gold medal for social responsibility. S&P Global, indeed, has awarded the company its Gold Class 2021, the highest recognition reserved for companies included in the Dow Jones Sustainability Index (DJSI), the authoritative international stock market index assessing the ESG factors of roughly 3,500 listed companied with the highest capitalisation globally. This prestigious result was released with the publication of the Sustainability Yearbook 2021, a report that contains the results of analyses carried out for gaining access to the index last year, and the names of companies that achieved the highest sustainability scores. Following its inclusion in the FTSE MIB in 2019, Hera participated in the selection process for the DJSI and, in only 2 years, rapidly rose in the classification, being included in the World and European indices at the same time and ranking as “Industry leader”, i.e. the best “Multi-utility and Water” in the world, with a score of 87/100, compared to a sector average coming to 45/100. Compared to the other companies assessed by the DJSI, Hera stood out in particular for its environmental and economic sustainability, and its governance. The Sustainability Yearbook 2021 gives particular emphasis to the significant results achieved by Hera in the areas identified as most challenging for its sector, such as resource management and protection, the ability to grasp market opportunities and relations with stakeholders. In addition to Gold Class status, Hera also received special mention as “Industry mover”, that is, the company that recorded the most significant improvement, rising by no less than 19 points compared to the score of 68/100 in 2019. S&P Global's Sustainability Award 2013-08-28 For further information S&P Global's Sustainability Award The Group has received Gold Class status for ranking as “Industry leader” in the Dow Jones Sustainability Index. Hera also given special mention as “Industry mover” /group_eng/sustainability /group_eng/investors /-/hera-2021-gold-medal-in-s-p-global-s-sustainability-award null Visit "Social Reponsibility" website area Visit "Investors" website area Press release null S&P Global's Sustainability Award

The Hera Group pays close attention to gender equality and to promoting diversity and inclusion, and stands out in particular for its transparency in providing information on these issues and its harassment prevention and sanctioning policies. The Group has indeed been included this year as well – after becoming part of it for the first time in 2020 – in the Bloomberg Gender-Equality Index, which evaluates 11,700 companies worldwide committed to promoting and creating equal and inclusive workplaces. Diversity awareness is indeed an increasingly important issue for the international financial community, with investors showing growing interest towards listed companies with outstanding policies in this area. Hera’s confirmation within the Bloomberg Gender-Equality Index – achieving significant results, even compared to the average in the utility sector – bears witness to the quality of the path chosen by the Group, which over time has been enriched with new content and increased dimensions, involving a growing number of employees. Today, diversity valorisation policies are an integral part of the Group’s strategy, and are also defined in its Business Plan to 2024. Promoting diversity, inclusion and people development is central in human resource management. At Hera, equality in access to development and professional growth is reached through meritocratic systems designed and calibrated to guarantee their own concrete application. The tools used include compensation and benefits focused on performance, the complexity of one’s role and market comparisons, regardless of gender or generation, and career paths that see an increasing percentage of women with roles of responsibility, now coming to roughly 30%. Bloomberg 2021 Sede Hera 2013-08-28 For further information Bloomberg 2021 /group_eng/investor-relations/hera-overview/creation-of-shared-value /-/hera-group-part-of-the-2021-bloomberg-gender-equality-index Hera Group's Diversity & Inclusion Main Parameters Press release bloomberg_2021_110.1611654387.png

A company’s workers are the true key to its success. The Hera Group knows this well, and continues to dedicate resources, attention and commitment to its team of over 9,000 employees. And the results are clear to all, as is shown by Top Employer, an international certification of excellence in human resource management, awarded to Hera in 2021 as well, for the 12th consecutive year. This recognition comes from the Holland-based Top EmployerInstitute, which carries out research on the quality of human resource management, examining over 1,600 businesses. The Group also stands out for its organisational methods, which promote worker agility and digitalisation, with a smart working project launched in 2017 that created the bases to effectively face the emergency that struck our country, with no effect on service quality and efficiency, protecting at the same time the health and safety of its employees and customers. In 2020, Hera immediately introduced a range of measures that ensured it would remain close to its workers: from upgrading technological tools favouring collaboration and communication among employees, to redesigning training in order to meet new obligations concerning remote work, and setting in place a Covid-19 insurance policy for its employees, with all expenses covered by the company. Hera’s most outstanding human resource policies include Hextra, the integrated corporate welfare plan intended for all Group employees, investments for which reached 4.5 million euro in 2020 alone. The Group also offers its employees campaigns aimed at awareness, prevention, cure, overall wellbeing and education. Hera has also confirmed its ranking among the leading Italian businesses that invest in their employees’ personal and professional development, with 26 hours of training per capita each year and a total of roughly 236,000 hours provided, thanks to investments coming to approximately 2 million euro. In this area, a fundamental role is played by HerAcademy, the Group’s corporate university that allows it to communicate with businesses and the main local institutions. Furthermore, through the Hera Educational set of initiatives, the Group constantly reinforces its role in the area served, consolidating its partnerships with various figures in the educational system. Lastly, a special focus goes to sustainability and guaranteeing equal opportunity, inclusion and diversity valorisation. This is proved by the Group’s presence in the 2020 Refinitiv “Diversity & Inclusion Index” (formerly Thomson Reuters) and its entrance in the 2020 “Bloomberg Gender-Equality Index”. In November 2020, as regards ESG factors, which also cover human resource management and development, Hera was recognised as “Industry leader” and included in the Dow Jones Sustainability Index World and Europe, one of the most authoritative stock market indices evaluating social responsibility, which brings together the companies showing the best sustainability performances in the world. Top employer 2021 Sede Hera 2013-08-28 For further information Top employer 2021 /group_eng/working-at-hera-group /-/hera-a-top-employer-for-the-12th-time Workers in Hera Press release top_employer_2021_110.1611329648.png

Tomaso Tommasi di Vignano, Hera Executive Chairman The reference scenario for the upcoming five years shows challenges and opportunities, which Hera has proven able to grasp in advance, by basing its strategy and its own approach to sustainability on them, well in advance. Today, with the new Business Plan, we can capitalise on the efforts made until present and increase our targets for growth to 2024. To support our goals, we have drawn up a significant investment plan which will expand our assets, at the same time making them increasingly sustainable, in line with the indications coming from international institutions. We have furthermore confirmed all of our operating-financial policies, most importantly maintaining a conservative asset profile, allowing us to finance potential investments not included in the Plan. Stefano Venier, Hera CEO Hera has always managed its activities through a sustainable approach, integrated into its business strategies. Therefore, with our new Business Plan we can promote further development, with projects dedicated to circularity, carbon neutrality and technological innovation, fully respecting the guidelines introduced by the Authority and benefiting from our past actions, in areas including premiums for service quality. We furthermore wish to report to our stakeholders, with the utmost transparency, on the Group’s commitment towards sustainability, already applying the TCFD’s recommendations to the 2020 financial year. Our future path is very clear and presents no few challenges, so much so that we have already given ourselves targets for 2030, aiming to achieve increasingly ambitious goals in sustainability. A new Plan for development and growth Today, the Hera Group’s Board of Directors, chaired by Tomaso Tommasi di Vignano, approved the Business Plan to 2024. This new five-year strategic document reflects Hera’s renewed commitment towards development and growth, with expectations increased compared to the previous Plan, and actions planned in areas including energy transition and environmental protection, technological evolution and social cohesion. The Group’s strategies for industrial and commercial reinforcement have been set out according to sustainable business models, channelling opportunities coming from innovation and digital technology, and promoting the creation of shared value for all stakeholders. Hera furthermore intends to support local communities in a recovery compliant to European strategies and the goals on the UN’s 2030 Agenda. Supported by the positive preliminary results for 2020, Hera will thus proceed along the path of uninterrupted growth it has followed since its establishment in 2002, with the aim of consolidating its leadership in all main business areas. All of this thanks to the strength of a model that over the years has proven to be winning and resilient and offers, still today, a concrete guarantee of additional future development A solid foundation in the preliminary results for 2020 The Business Plan to 2024 is based on the solid fundamentals seen in the year-end projections for 2020: the preliminary results, indeed, confirm growth in the main indicators over the previous year. Ebitda is expected to have reached 1,118 million euro in 2020, increasing compared to the 1,085 million seen in 2019, while the Net debt/Ebitda ratio shows considerable improvement, settling at 2.9x, as against 3.02x at 31 December 2019. Last year, furthermore, Hera made investments coming to roughly 540 million euro, essentially unchanged with respect to 2019. In 2020, Hera thus overcame the difficulties caused by the pandemic and guaranteed continuity, efficiency and quality in the services provided, as well as offering concrete support to all stakeholders, first and foremost customers, suppliers and employees. The framework of the new Plan: resilience, green transition and digital technology, for recovery To respond to the complex scenario seen in 2020 and limit the impact of the crisis, the European Union has projected a series of extraordinary measures – including the “Next Generation EU” program – with funding going in particular to the green transition and digital technology. Alongside these measures, mention must go to the opportunities found in our country’s particular situation, which shows room for consolidation in markets that remain overly fragmentary, tenders for service concession renewal, and a further liberalisation of electricity sales with the end of the protected customer system. Three focal points of the Business Plan to 2024: the environment, socio-economic factors and innovation The Hera Group has enhanced its strategy, following European directives while at the same time maintaining its coherence towards the 2030 Agenda, which for years has guided the Group’s commitment towards sustainable development. More specifically, the new Plan revolves around three strategic focal points – the environment, socio-economic factors and innovation – according to which all of Hera’s projects will take shape. The environmental focal points include promoting a circular economy by recovering, reusing and regenerating resources, interventions aimed at increasing infrastructural resilience so as to prevent and mitigate risks. More generally, this area also includes all actions aimed at countering climate change – an area in which Hera has been a leading figure for some time – in order to reach carbon neutrality, promoting bioenergies/green gas – such as biomethane, hydrogen and green syngas – and energy efficiency. Contributing to decarbonisation and saving resources will also come about through a drop in consumption within the Group itself: by 2024, energy consumption is expected to fall by 7% (compared to 2013) and internal water consumption by 17% (compared to 2017). The socio-economic factors, instead, involve creating “shared value” for stakeholders and the areas served, making the most of the Group’s physical and commercial assets, with new services having added value for customers, collaborations with external partners and projects for listening to local and social needs, as well as finalising integration transactions or tenders for regulated service assignments. Innovation, lastly, covers the opportunities linked to technological evolution, digitalisation, artificial intelligence and data analysis, to increase efficiency and service quality, with increasingly agile employment solutions, while maintaining the correct balance between people and technology. Investments coming to approximately 3.2 billion euro, up thanks to the Group’s financial solidity The Plan to 2024 calls for increased investments, coming to roughly 3.2 billion euro, 640 million per year on average: these figures are significantly higher (by approximately +40%) than the average seen over the last five years. In particular, an increase is expected in internal development, coming to 2.9 billion, 400 million more than in the previous Plan, with a financial commitment proportionate to Hera’s presence in the areas served and the features of the various business areas. 280 million will go to M&A operations and tenders for regulated services, with a slight drop compared to the previous Plan due to delays in a few gas tenders, partially offset by higher amount dedicated to external investments. More generally, 60% of these investments will be dedicated to projects respecting European objectives. 42% will go towards activities in line with the “Green Deal”, for reducing emissions, carbon neutrality, business resilience and circular economy. The remaining 18% will be channelled into technological evolution: from increased cybersecurity to remote control, and from “smarty” bins for sorted waste to new meters. This increase in investments was made possible not only by the positive results reached in 2020, but also by Hera’s financial solidity, which leaves room to manoeuvre with additional unforeseen investments. During the period covered by the Plan, in fact, a reduction is expected in the net debt/Ebitda ratio, reaching 2.8x by 2024. Business plan to 2024 Sede Hera 2013-08-28 For further information Business plan to 2024 /group_eng/investor-relations/hera-strategy https://investornews.gruppohera.it/en/?n=185 /-/hera-group-approves-business-plan-to-2024-1 Strategy and Business plan Newsletter: business plan to 2024 Press release bp2024_110x150.1610525461.jpg

Again in 2020, for the tenth year running, the Hera Group has been included among the top ten Italian companies in online communication and this year, for the first time, it also appears in the top ten European ranking. The study, published today in Corriere Economia, is conducted by Lundquist and the Swedish company Comprend, the two expert digital communication companies that annually examine the corporate websites of major Italian companies listed on the stock exchange, evaluating their communication strategies on the web ina ranking at national and European level. This year, the survey includes122 companies. In the 19th edition report, Hera placed 6th, in the category "5 Stars" in web communication, with a score of 82.2/100and ahead of large corporations such as Italgas, ERG, Mondadori and Intesa Sanpaolo. All results are available for viewing at this link. Among the strengths listed of the multi-utility company, the study names the detailed presentation of "Corporate Governance" and the "Careers" section, which are deemed particularly effective in communicating with the target audience. The Group was also recognised for its excellent performance in terms of transparencyof digital communication, which earned the Group's admission for the first time into the European ranking (Top 500), straight in at seventh place. Not only that: this edition of Webranking also included the "Palmares" ranking, which lists all the best-performing companies in the field between 2011 and 2020: here theHera Group comes in fifth with three silver and four bronzes in ten years. Regarding the question of sustainability, according to the study by Lundquist and Comprend, the Hera Group website offers "an interesting discussion dedicated to the importance of developing an Environmental, Social and Governance approach (ESG) in the financial sector, based on the results of dialogue with its stakeholders. Ample space is also given to sustainability issues within the section 'Investing in Hera', complete with links to pages for specific in-depth analysis". The health crisis triggered by the Covid-19 virus has also put corporate communication to the test, both in terms of its ability to react to the emergency itself and to recalibrate its vision of business for the future. For both these abilities, the Hera Group has been mentioned by Lundquist as ranking among the companies "to follow" with its dedicated area "Together to overcome this time of crisis", which keeps users constantly updated on all the initiatives put in place by the multi-utility company aimed at its customers and employees. Between the final phase of the lockdown and the first reopenings, the second edition of ".Trust" got well underway - Lundquist's research study which is actively focused on measuring how communication can generate trust and be an effective tool for business growth. This year, the Hera Group was mentioned (from among the 112 major Italian companies listed on the stock exchange that were analysed) in the section "Substance", which evaluates the ability to provide a unified view of the company and its purpose. Hera Group stands out in the detailed view of the company and its activities and for the completeness of the sections dedicated to sustainability. Download Whitepaper Webranking 2020-2021 Italy listed Webranking 2020 Sede Hera 2013-08-28 For further information Webranking 2020 In the Lundquist Webranking 2020 report on digital communication, the multiutility enters the European ranking for the first time, ranking seventh, and confirms itself among the top ten in Italy distinguishing itself for the detailed vision of the company and its activities, as well as for completeness and transparency in the communication field https://www.comprend.com/webranking/webranking-results/2020-2021/ https://lundquist.it/wp-content/uploads/2020/11/Webranking_Italy_2020_White_paper.pdf https://www.comprend.com/webranking/webranking-results/2020-2021/italy-2020-2021/ https://www.comprend.com/webranking/webranking-results/2020-2021/europe-500-2020-2021/ https://lundquist.it/trust/trust-italy-listed-2020/ To see the full results Download Whitepaper Italy listed 2020-2021 Take a look at the Italian ranking Take a look at the European ranking Read more about ".Trust" webranking2020_110.1606808028.png

The Hera Group has successfully placed a bond for qualified investors on the Eurobond market, with a nominal amount coming to 500 million euro and a 10-year maturity. This new issue immediately met with strong interest from investors in all main European countries. In a single day, orders were indeed received for 4 times the offer. Due to the quantity and quality of the orders received, the price was set at an excellent rate, equal to the Mid Swap Rate +60 basis points, and a coupon coming to 0.25%, the lowest amount for an Italian corporate bond with an equal length to maturity. The notes will be issued as part of the Euro Medium Term Notes Programme (updated on 24 November 2020 increasing to 3.5 billion euro the maximum principal amount of notes that may be simultaneously outstanding) and will be listed on the regulated market of the Irish Stock Exchange (Euronext Dublin) with a return set at 0.348%. The settlement is scheduled for 3 December 2020. The notes are expected to have the same rating as the Hera Group: Moody’s rating Baa2 with a stable outlook and Standard & Poor’s rating BBB with a positive outlook. The proceeds of the bond will be used to finance the Group’s investments in the waste management, water and energy sectors, which will introduce innovative interventions that follow up on the attention towards sustainability that has always characterized the Group’s activities. Sede Hera Sede Hera 2013-08-28 For further information Sede Hera Strong interest shown by investors towards a bond financing the Group’s projects, with orders amounting to over 2 billion. This positive reaction was fuelled by the Group’s solidity and its high sustainability profile, as recognised by its recent inclusion in the Dow Jones Sustainability Index /en/-/hera-new-500-million-euro-bond Press release sede_hera_110.1592478681.jpg

Dow Jones Sustainability Index The Hera Group has received yet another important recognition, rewarding a corporate strategy that brings growth in economic results together with sustainability and the shared value created for all stakeholders. Hera is the first Italian multi-utility to be included in the Dow Jones Sustainability Index (DJSI), one of the world’s most authoritative stock indexes that evaluates social responsibility. Managed by S&P Global, it selects the largest companies in the world based on the best sustainability performances in all areas of ESG (environment, social, governance). This achievement is all the more considerable considering that Hera has simultaneously become part of the worldwide (Dow Jones Sustainability World Index) and European (Dow Jones Sustainability Europe Index) indices, and especially its position as “Industry leader” out of the approximately 3,500 companies with the highest capitalisation across the world evaluated by the DJSI (of which only 10%, on average, succeeds in being included in the index). In particular, in this year’s ranking, announced Friday 13 November 2020 and effective as of 23 November 2020, Hera reached an overall score of 87/100, a result that ranks it as the best multi-utility globally. Compared to other companies in the index, Hera stood out above all for environmental and economic dimensions, and for its governance. Being included in the DJSI proves once again the quality of the approach taken by Hera since its establishment, 18 years ago. Sustainability is, indeed fully integrated in the Group’s strategies, as can be seen in its Business plans, which clarify the range of sustainability goals – circularity, decarbonisation and risk management – defined within each business area, through innovation, investments in asset resilience, marketing strategies, digitalisation, artificial intelligence and big data. Hera’s attention towards ESG factors, as seen in the continuous improvement of its management sustainability parameters, is accompanied by continuous growth in operating and financial results, a solid and constant cash generation, and a stability in governance unique in its sector, with top management confirmed by the Shareholders Meeting last April. All of these factors, even in this difficult year marked by the ongoing health emergency, have allowed Hera to continue creating value, benefitting all stakeholders and local areas served, guaranteeing efficiency and resilience and finding innovative solutions to sustain those experiencing difficulty, protect the environment and defend natural resources. Increased attention towards the Group’s sustainability came in March 2019, when Hera was included in the FTSE MIB. Considering the rising sensitivity to these issues shown by the financial community and many institutions, this year Hera stock was included in the FTSE4Good Index Series (a series of ethical indices conceived by FTSE Russell, to identify the world’s companies most committed to sustainable development) and the Refinitiv Thomson Reuters “Diversity & Inclusion Index”, coming in 12th worldwide and ranking as the first multi-utility overall. Dow Jones Sustainability Index 2013-09-25 For further information Dow Jones Sustainability Index Inclusion in one of the world’s most important stock market indices dedicated to evaluating social responsibility, as the leader of its own sector, comes as recognition for the Group’s attention towards sustainability and creating shared value for all stakeholders, pursued since its establishment documents/1928267/5647205/Press+release+Hera+best+multi+utility+in+DJSI.pdf/245fbe0b-0382-94a1-0601-da3fddbdeac5?t=1605618228680 /documents/1514726/4185843/DJSIComponentsWorld_2020_1_.1605518691.pdf/137624ef-4907-2953-da1a-4d951038968b?t=1605627821954 /documents/1514726/4185843/DJSIComponentsEurope_2020_1_.1605518692.pdf/9267933b-5b44-c30c-185b-09cbd44d3df5?t=1605627821514 /group_eng/investors /group_eng/sustainability/social-responsibility Press release See the list of companies included in the Dow Jones Sustainability World Index See the list of companies included in the Dow Jones Sustainability Europe Index Visit "Investors" area Visit "Social Responsibility" area centrata Dow Jones Sustainability Index

Results as at 30 september 2020 Financial highlights Revenues at 4,905.9 million euro (-3.1%) Ebitda at 806.2 million (+2.6%) Net profit at 244.7 million (+1.1%) Net debt stable at 3,284.5 million Operating highlights Resilience guaranteed by a mix of internal and external growth Good contributions come mainly from the gas and electricity areas A solid base, with over 3.3 million customers in energy sectors, showing strong growth thanks to the Ascopiave partnership Today, the Hera Group's Board of Directors, chaired by Tomaso Tommasi di Vignano, unanimously approved the consolidated third-quarter report at 30 September 2020. This report shows improvement in the Group's main economic indicators compared to the same period in the previous year, confirming its positive trends and solid fundamentals, and allowing it to overcome the inevitable impact of the health emergency affecting our country. More specifically, the most significant results for the first three quarters of 2020 - in line with the growth expected by the Business plan to 2023 - include a rise in Ebitda coming to over 20 million euro and a better Net debt/Ebitda ratio, as well as ongoing creation of value for stakeholders, beginning with shareholders who were paid, as foreseen, dividends coming to over 150 million euro. As usual, M&A transactions, along with internal growth sustained by higher efficiency and investments, were the driving force behind the Group's results. The most important factor was the recent partnership with Ascopiave, consolidated at the beginning of the year. Through EstEnergy, this partnership gave way to the largest energy operator in North-Eastern Italy and led to over 3.3 million customers overall in the energy sectors. These results furthermore point towards a high ESG profile, with strong attention going to the environment, social and governance, which is expected to remain stable over the next three years after top management was confirmed by the Shareholders Meeting held on 29 April. This attention appeared all the more clearly during the emergency that struck our country: in recent months, indeed, Hera has always guaranteed full service continuity and introduced many forms of protection for employees, suppliers and customers, including easier terms for paying bills. Sustainability, in any case, has been an integral part of the Group's strategy since its establishment, and contributes - alongside all operating-financial indicators - to its growth, creating value for local communities and all areas served. At the same time, the Group's solidity and its valid multi-business strategy, based on a range of diversified levers, balanced between internal and external growth, have enabled it to guarantee a high degree of resilience, even in difficult contexts such as the current one. The effects on the Coronavirus pandemic on the Group's businesses, its financial situation and its operating performance have thus been contained, as already appeared in the first-quarter report at 31 March 2020 and the half-year report at 30 June 2020. Revenues at 4,905.9 million euro In the first three quarters of 2020, revenues came to 4,905.9 million euro. This result was mainly due to lower revenues from electricity and gas trading, generation and sales, the lower price of commodities, lower volumes sold and the heat management and district heating services. Various factors helped mitigate this impact, including changes in the scope of operations and an increase in regulated energy revenues. Ebitda increases to 806.2 million euro Ebitda went from 785.8 million euro in the first nine months of 2019 to 806.2 million euro at 30 September 2020, up 2.6%, despite the negative impact of milder winter temperatures and the Coronavirus emergency. This growth - seen over the entire duration of the first nine months of 2020 - was achieved above all thanks to the performance of the energy areas (gas and electricity), owing to the Ascopiave partnership. Positive results were also recorded in the water cycle area, which saw efficiency-enhancing initiatives aimed at resilience and sustainability, and in other services, including public lighting and telecommunications. Operating results rise to 414.7 million euro Operating results increased to 414.7 million euro, up 2.3% compared to the 405.5 million seen at 30 September 2019. Financial operations settled at 79.5 million in the first nine months of 2020, with a 12.4 million change compared to the same period in the previous year due on the one hand to lower financial charges and on the other to higher non-monetary charges, prevalently linked to the Ascopiave transaction. Pre-tax profit remained essentially unchanged at 335.2 million euro. Net profits increase to 244.7 million (+1.1%) Net profits at 30 September 2020 rose to 244.7 million euro (+1.1%) compared to the 242.0 million recorded one year earlier, with profits pertaining to Group shareholders increasing to 233.1 million euro, compared to the 230.8 million seen at 30 September 2019 (+1.0%). These results benefitted from a tax rate coming to 27%, with further improvement compared to the 28.5% recorded during the previous year, thanks in particular to the Group's commitment to making significant investments in technological, digital and environmental transformation, along with the benefits introduced by the government's Relaunch Decree. Operating investments come to 333.6 million euro; net financial position stable During the first nine months of 2020, Hera made operating investments amounting to 333.6 million euro, basically in line with the previous year and respecting the green-oriented projects contained in the Business plan. Investments mainly went to plants, networks and infrastructures, as well as regulatory upgrading in the sewerage and purification areas and a large-scale installation of new-generation gas meters. In addition to financing these investments and paying dividends, the positive cash generation also sustained financial investments, mainly involving the strategic Ascopiave transaction, and purchasing treasury shares based on market opportunities. The Group's solid financial position is reflected by its net debt, which remained unchanged with respect to the 3,274.2 million seen at 31 December 2019, settling after the first nine months of 2020 at 3,284.5 million euro, including the amount of Ascopiave's put option concerning EstEnergy. The Net debt/Ebitda ratio came to 2.97x, improving compared to the 3.02x seen in late 2019. PROFIT & LOSS (M€) 30/09/2020 INC. % 30/09/2019 INC. % CH. CH. % Sales 4,905.9 5,063.2 (157.3) (3.1%) Other operating revenues 355.7 7.3% 366.7 7.2% (11.0) (3.0%) Raw material (2,314.9) (47.2%) (2,504.9) (49.5%) (190.0) (7.6%) Services costs (1,696.9) (34.6%) (1,698.4) (33.5%) (1.5) (0.1%) Other operating expenses (41.8) (0.9%) (45.6) (0.9%) (3.8) (8.3%) Personnel costs (424.0) (8.6%) (418.7) (8.3%) +5.3 +1.3% Capitalisations 22.2 0.5% 23.5 0.5% (1.3) (5.5%) Ebitda 806.2 16.4% 785.8 15.5% +20.4 +2.6% Depreciation and provisions (391.5) (8.0%) (380.3) (7.5%) +11.2 +2.9% Ebit 414.7 8.5% 405.5 8.0% +9.2 +2.3% Financial inc./(exp.) (79.5) (1.6%) (67.1) (1.3%) +12.4 +18.5% Pre tax profit 335.2 6.8% 338.4 6.7% (3.2) (0.9%) Tax (90.5) (1.8%) (96.4) (1.9%) (5.9) (6.1%) Net profit 244.7 5.0% 242.0 4.8% +2.7 +1.1% Attributable to: Shareholders of the Parent Company 233.1 4.8% 230.8 4.6% +2.3 +1.0% Minority shareholders 11.6 0.2% 11.2 0.2% +0.4 +3.6% BALANCE SHEET (M€) 30/09/2020 INC.% 31/12/2019 INC.% CH. CH. % Net fixed assets 6,927.1 109.1% 6,846.3 108.9% +80.8 +1.2% Working capital 67.4 1.1% 87.0 1.4% (19.6) (22.5%) (Provisions) (643.5) (10.1%) (649.1) (10.3%) +5.6 (0.9%) Net invested capital 6,351.0 100.0% 6,284.2 100.0% +66.8 +1.1% Net equity 3,066.5 48.3% 3,010.0 47.9% +56.5 +1.9% Long term net financial debt 3,376.3 53.2% 3,383.4 53.8% (7.1) (0.2%) Short term net financial debt (91.8) (1.5%) (109.2) (1.7%) 17.4 (15.9%) Net financial debts 3,284.5 51.7% 3,274.2 52.1% 10.3 +0.3% Net invested capital 6,351.0 100.0% 6,284.2 100.0% +66.8 +1.1% Results as at 30 september 2020 2013-09-25 For further information Results as at 30 september 2020 The Group closed the first nine months of the year with improvement in the main economic indicators compared to the same period in 2019, offsetting the impact of the Coronavirus emergency. These positive results, in line with the growth foreseen by the Business plan to 2023, were reached through the enlarged scope of operations and the investments made in resilience and sustainability /-/hera-bod-approves-3q-2020-results Press release centrata Results as at 30 september 2020

Accordo Maire Tecnimont S.P.A.e Hera Group Maire Tecnimont S.P.A.andHera Groupannounce today the signing of a strategic agreement between Aliplast, Hera Group’s subsidiary for the collection, recycling and conversion of plastics, and NextChem, Maire Tecnimont Group’s company for the development of projects and technologies for the energy transition. NextChem will provide technology and engineering, procurement and construction services to build a plant which will use proprietary innovative technology MyReplastTMfor upcycling of plastic waste into high value-added polymers. These partners are each leader in their respective sectors. Hera Group’s Herambiente unit – Italy’s pioneer in the treatment of all types of waste – has 90 plants with an important know-how in the management of the entire environmental chain, in which Aliplast contributes with a circular and integrated stronghold in plastic sector. Maire Tecnimont Group is a global leader in process engineering and strongly committed – through its subsidiary NextChem – to developing projects and technologies for the energy transition and circular economy. Maire Tecnimont adopts an innovative industrial approach focused on engineering of transformation processes able to produce polymeric high value-added materials which can replace virgin materials derived from fossil sources. The synergy between skills and resources of these two big players will result in the only plant of its kind in Europe. One of Hera Group’s sites will use the innovative MyReplastTM technology licensed by NextChem and will produce recycled polymers of high quality and purity, with high-level chemical-physical and mechanical performance. The aim of the plant is to treat post-consumer plastic waste to obtain customized recycled products capable of meeting customer requirements and quality market standards, with features and properties on par with virgin polymers from fossil sources. This is a cutting-edge plant engineering experience. Once fully operational, the plant – powered by green sources thanks to Herambiente – will be able to produce up to 30,000 tons of polymers per year. The plant will ensure high security standards and be equipped with innovative features such as processes automation and high digitalization for data analytics, thereby allowing it to maximize energy efficiency, delivering further environmental benefits. Accordo Maire Tecnimont S.P.A.e Hera Group 2013-09-25 For further information Accordo Maire Tecnimont S.P.A.e Hera Group Hera Group’s and Maire Tecnimont Group’s subsidiaries sign strategic agreement to build plant with NextChem’s proprietary MyReplast technology /documents/1514726/4226940/Press+release+NextChem+Aliplast.pdf/2fe1d043-6767-3355-3ec7-75fea6ac6599?t=1603979768825 Press release centrata Accordo Maire Tecnimont S.P.A.e Hera Group

Sede Hera It has recently come to the Hera Group’s attention that individuals misrepresenting themselves as Hera Group’s recruiters and managers have contacted people in order to conduct interviews and offer them fraudulent job opportunities within the Hera Group. According to what the victims reported, applicants are invited to conduct an interview using an instant messaging application (e.g. Telegram). After being interviewed, victims are offered jobs, usually in a work-at-home mode, may be required to provide personal or financial data and, in certain cases, to pay upfront for related costs such as job training. Also, false recruiters are using fake email addresses that are not associated with the Hera Group but can look similar (such as “@gruppoherausa.com”). Please be advised that the said interviews/job offers are completely false and are not connected with the Hera Group in any way. The Hera Group DO NOT select personnel through text messaging or e-mail communication alone and NEVER, under any circumstances, request payments of any kind in order for applicants to secure a job. The existing legitimate job opportunities within the Hera Group are available at eng.gruppohera.it under section “Working at Hera Group” - “Available Positions”. If you receive a similar request for an interview/a job offer: DO NOT reply; DO NOT send money; DO NOT disclose personal or financial information; Timely report what happened to the competent authorities; Please keep us informed by writing toinfo@gruppohera.it. We take this matter very seriously and we hope that publishing this information could prevent these scams. We have already reported the facts to the competent authorityseeking the identification and punishment of the impostors. Sede Hera 2019-07-18 Read more Sede Hera It has come to the Hera Group’s attention that individuals misrepresenting themselves as Hera Group’ recruiters and managers have contacted people in order to conduct interviews and offer them fraudulent job opportunities within the Hera Group Sede Hera

top international sports events One such venture has been completed in just twenty days by Regione Emilia-Romagna, APT Servizi Emilia-Romagna, FCI (Italian Cycling Federation), Comitato Organizzatore di Imola2020 (Imola2020 Organising Committee), Enzo e Dino Ferrari Race Circuit of Imola, supported with coordination by CON.AMI and the main sponsor Hera Group. With 2,303 accredited visitors arriving from 70 countries for these World Championships - including teams, staff, professionals and volunteers, authorised personnel and media (200 official journalists from 20 countries) - Italy and the Emilia Romagna region have skilfully demonstrated how it is possible to stage major international sports events in complete safety, despite Covid-19 and the relevant measures imposed to protect public health. As well as the memorable sporting achievements by top athletes and wonderful landscapes featuring the Emilia-Romagna gullies, the 2020 UCI World Cycling Championships of Imola-Emilia Romagna revealed new scenes to hundreds of thousands of TV viewers. “We are very proud of being part of the team that managed to pull off this amazing feat”, commented Hera Group's Executive Chairman, Tomaso Tommasi di Vignano, “and thanks to which the region has received a huge benefit in terms of image and reputation. And we pay our compliments to the champions whose efforts won them the rainbow shirts. The roads on which the race takes place are the very same roads we travel every day to provide our services to citizens and businesses, being fully aware of how important they are for the community, and providing our services with great commitment and dedication. Also on this occasion, we believe we have done a good job, increasing our services to welcome and promote this important event to the best of our abilities.” top international sports events 2019-07-18 Read more top international sports events Hundreds of millions of viewers, 2,303 accredited from 70 countries: the numbers of the 2020 UCI World Championship in Imola, the fastest in history /-/hera-group-s-sustainable-energy-at-the-world-cycling-championships Read news stories dedicated to Hera Group’s sponsorship and the races in the World Cycling Championships top international sports events

World Road Cycling Championships Bike mobility is the most sustainable type of mobility and the Hera Group fully supports it as main sponsor of the World Road Cycling Championships that are to be held in Imola from 24 to 27 September 2020. But the multiutility has developed numerous sustainable mobility projects ranging from charging points for private and company vehicles, to vehicles that travel with biomethane produced from the separate collection of organic waste by citizens, and even garbage collection trucks powered by the vegetable oils collected in the area in which they operate. These are examples that bear witness to a vision of mobilitythat often goes hand in hand with the concept of circular economy, creating virtuous circuits. Try the E-Bike in the Hera area and find out more about e-charging During the World Cycling Championships, the multiutility will be present at the Enzo e Dino Ferrari Race Circuit, where the races start and finish, with an exhibition space to help the public better understand e-mobility through Hera’s products. In the exhibition area, visitors can try the E-Bikes Hera offers, through its business partnerships, and find out more about the electricity and gas deals and its range of e-mobility products. An initiative that has attracted great interest from customers in recent months. It will be possible to cycle electrically, thanks to the bikes distributed, among others, by a company of Castel San Pietro Terme. Hera’s charging points will also be on display in the exhibition area. The environmental services have been improved to ensure the sustainability of the event For the World Cycling Championships, together with the Administration of Imola, Hera has also improved the waste collection and cleaning services along the race routes to keep the city clean and ensure the sustainability of the event. In particular, specific cleaning operations have been planned along the routes of the time trial races and mass start events: sweeping with a driven sweeper and by an operator before the races and manual cleaning, before and after each race (even in the area around the circuit), collecting waste that has been abandoned or thrown on the ground and cleaning out dumpsters. At Imola, in the Circuit area, dumpsters will be unlocked for use by the public that attends the race. From 24 to 27 September, the times of certain waste collection services will differ, due to traffic restrictions. On 24 and 25 September these changes will also be applied in the municipalities of Borgo Tossignano and Casalfiumanese through which the time trial race route passes. Even in Riolo Terme, where the mass start events will be held on 26 and 27 September, as agreed with the municipal administration, Hera has improved the cleaning services before and after the races along the race route roads and in the neighbouring areas, also collecting waste that may be abandoned or thrown on the ground. The times of the dumpster emptying service will change, and door-to-door collection of paper and cardboard on Saturday will also be brought forward. After the World Championships, the roadside along the race route will be cleaned. “This is the first time that our Group has sponsored a high-level sporting event of this kind - said Tomaso Tommasi di Vignano, Executive Chairman of the Hera Group - and we are proud that it will be held in one of the territories that made it possible to found this company and, in a setting, that of the race circuit, that will undoubtedly highlight its importance. The roads on which the race take place are the very same roads we travel every day to provide our services to citizens and businesses, being fully aware of how important they are for the community, and providing our services with great commitment and dedication, with the same effort that these great champions will put into tackling gruelling climbs, giving us an incredible show of perseverance. Much of what we do is invisible, but we try to do our work in the best possible way and on this occasion too we will be at work, as always, every day, improving the services to host the many cycling fans, and helping to make this important event sustainable.” World Road Cycling Championships Press release Hera Group's sustainable energy at the World Cycling Championships 2019-07-18 Read more World Road Cycling Championships The multiutility will be present at the Imola Race Circuit with a space dedicated to e-mobility. The environmental services have been improved to ensure the sustainability of the event https://imola-er2020.it/en/homepage-english/ https://youtu.be/NxOjs3EhhXY Visit the official website Watch the new video World Road Cycling Championships

Firma accordo Fruttagel Circular economy and sustainability are at the heart of the Hera Business Solution protocol, signed today by the Hera Group and Fruttagel, a national leader in the food sector, specialised in the industrial transformation of fresh fruit and vegetables, cereals and beans. Thanks to the Hera Business Solution, a multiservice offer conceived for large companies, the Hera Group will lend its companies’ experience to Fruttagel. The support provided will allow the latter to meet rising and increasingly challenging goals in circularity along its entire production chain, broadening the range of services already provided by the Group and thus allowing it to count on the benefits ensuing from dealing with a single partner. Circular economy, indeed, is a concept often associated only with the waste treatment sector, while actually covering all areas and therefore also concerning the responsible and efficient use of water and energy. Circular economy across the board with Hera Business Solution The Hera Business Solution protocol signed by Hera and Fruttagel is a valid example of an agreement between different sectors of production that aims at providing solutions for both environmental and production issues, fully deserving a place within the circular economy circuit. This collaboration is part of a process already underway with Fruttagel, that uses a few services offered by the Hera Group, for example managing waste, with plans to reduce it and global service solutions to maximise recovery, and the purification plant; supplying drinking water; selling energy and web tools to analyse and manage energy consumption and evaluate its effects; offering data connectivity, internet and data centre services. Now that the Hera Business Solution protocol has been signed, the multi-utility will launch a phase of consulting to draft a monitoring model that covers all Fruttagel’s activities and provides support in reaching environmental sustainability goals in terms of raising consumption efficiency, improving environmental performances and reducing energy and environmental impact. The bar set for these goals will become even higher, owing to the broader range of coordinated services provided by the Hera Group. With the Hera Business Solution, the Hera Group is indeed available as a partner for large industrial groups, with an overall proposal consisting of integrated energy and environmental solutions, sustainable and well-defined for single businesses, taking their own complexity into account. The goal is to set out new opportunities for growth, working alongside companies, to reduce as much as possible costs for the community, the environment and future generations. All of this will involve regenerating natural resources, lengthening the useful life of goods and resources and developing skills for an efficient use of raw materials. The Circular Economy Report, to describe and measure sustainability Measuring and reporting are ever more crucial to remain competitive on the market, in reputational terms as well. In order to present results or previously launched sustainability projects, the Hera Group will lend Fruttagel its consolidated experience in this field, designing and drafting along with this company a report on the sustainability performance reached. The report will be constructed by including indicators concerning the main services acquired/provided, for example recovery in waste managed, greenhouse gasses avoided, renewable energy used and the primary energy saved thanks to efficiency interventions and cogeneration plants. Through these numbers, it will be possible to better analyse these processes and their impact, introduce plans for improvement and transparently report to stakeholders. Firma accordo Fruttagel Press release Hera Fruttagel 2019-07-18 Read more Firma_accordo_Fruttagel_870.1600351273.jpg The two companies have signed the Hera Business Solution protocol for managing integrated waste, drinking water, purification and energy efficiency enhancement services. This multiservice proposal is offered to large companies who wish to reach goals in sustainability, which are measurable and increasingly demanding in various areas, making the most of the skills provided by a single partner Firma accordo Fruttagel

Refinitiv_110 This year as well, the “Diversity & Inclusion Index” confirms the Hera Group’s presence among the world’s 25 most interesting companiesfor investors inclined towards companies committed to guaranteeing diversity and inclusion. In the 2020 edition, which examined a broader range of listed companies coming to over 9,000 worldwide, Hera’s score of 77 points made it the second company in Italy and 12th in the world, further improving its position (after ranking 14th in 2019). The Group was furthermore confirmed as the leading multi-utility globally. The “Diversity & Inclusion Index” was conceived and is carried out by the international financial information giant Refinitiv (formerly Thomson Reuters), which analyses corporate performance based on a range of ESG (environmental, social and governance) factors. It mainly focuses on four areas: diversity, inclusion, people development and controversies published in the media. These recognitions prove that our company’s attention towards these issues have made it a pioneer, nationally and internationally. As early as 2009, indeed, our multi-utility signed the Charter for equal opportunity and equality on the workplace, and in 2011 it introduced a Diversity Manager who, supported by a team of employees coming from various areas and companies belonging to the Group, is responsible for planning projects that reflect the company’s policy in valorising diversity, equal opportunity and equality on the workplace. Refinitiv Press release Hera in DI Index 2020 2019-07-18 Read more Refinitiv_870.1600240517.png The Hera Group continues to rise in Refinitiv’s international ranking, the “Diversity & Inclusion Index”, a reference point for investors who look with interest towards the businesses committed to promoting diversity, inclusion and people development /group_eng/working-at-hera-group/why-work-at-hera/diversity-inclusion Hera's investments in sustainability, diversity and inclusion Refinitiv_110

Hera Group is main sponsor of the next Cycling World Championships The UCI Road World Championships are returning to Italy seven years after the 2013 edition in Florence, Tuscany. The Emilia-Romagna Region, the APT Servizi Emilia-Romagna Tourism Bureau, the FCI (Italian Cycling Federation) and the Imola2020 Organizing Committee, that together with the Main Sponsor Hera Group, have taken on the major challenge of organizing this international event for Elite Men and Women in what is a particularly difficult year. From four quality bid files received, The Union Cycliste Internationale (UCI) chose that prepared by the Imola 2020 Committee thanks to a road race course that is as spectacular, tough and demanding, and state-of-the-art facilities offering essential required space to comply with the current laws and rules to ensure maximum safety during the current pandemic. From the 24th to the 27th September 2020 the UCI Road World Championships for Elite riders will have its headquarters at Imola’s Enzo e Dino Ferrari Racetrack, a venue that epitomizes Italy’s place in the history of worldwide sport. This premium facility, highlights the excellence of Emilia-Romagna and Italy. “The territory that our company takes care of day in and day out - says Tomaso Tommasi di Vignano, Executive President of Hera Group - has strong historical and emotional ties with cycling. Therefore, a rendezvous such as the World Cycling Championships has instantly lit up our enthusiasm. We are particularly happy that we will not only be sustaining this effort to the best of our ability but also through our services that will accompany the event to guarantee its sustainability and to help handle the fan flow efficiently. After all”, says Mr. Tommasi, “the pedals of these bikes remind us of the great effort invested by so many champions and are a source of inspiration for those, such as Hera, who strive to constantly propose something new and better, to continue to improve with time and aim for new goals, in the interest above all of the communities served”. “Coming back to Italy with the UCI Road World Championships - emphasizees the UCI President, David Lappartient - is a strong message for cycling and for the country and its people who suffered so much from Covid-19 in the early months of the pandemic. Imola and Emilia-Romagna will provide an extraordinary backdrop for our event that will reveal the best men and women riders in the world on selective courses. Our thoughts go out to Aigle and Martigny in Switzerland who have worked tirelessly for two years and thank you to Italy for accepting the challenge of organising these Championships in such a short time.” Hera Group is main sponsor of the next Cycling World Championships 2020-05-13 Read more Hera Group is main sponsor of the next Cycling World Championships From 24 to 27 September, the multiutility will be alongside Emilia-Romagna Region, APT Servizi Emilia-Romagna, FCI and the Imola2020 Organizing Committee https://www.uci.org/road/events/uci-road-world-championships Visit the UCI's website Hera Group is main sponsor of the next Cycling World Championships

Financial highlights Revenues at 3,402.3 million euro (+0.9%) Ebitda at 559.7 million (+2.5%) Net profit at 174.9 million (+0.6%) Net financial position improves to 3,083.6 million Operating highlights Good contribution coming from both internal growth and the recently enlarged scope of operations, which more than offset the negative effects of the nationwide emergency Further activities introduced to support all stakeholders Solid customer base in energy sectors, with customers increasing sharply to 3.3 million thanks to the recent Ascopiave partnership Today, the Hera Group’s Board of Directors, chaired by Tomaso Tommasi di Vignano, unanimously approved the consolidated operating results for the first half of 2020. The positive trend shown by our multi-utility was confirmed, with main operating-financial indicators improving, in spite of a few inevitable negative impacts caused by the health emergency that broke out across the country. In general, the good results reached confirm once again the Group’s valid business model, which balances regulated and free-market activities, along with internal and external growth, creating value for the areas served. Relying on its own financial solidity, Hera continued to proactively introduce, in the second quarter as well, a range of measures aimed at guaranteeing service continuity even while the emergency was still fully underway. Furthermore, support and protection were ensured for all main stakeholders, first and foremost employees, suppliers and customers, through means including favourable conditions for bill payments. Among the major changes in the Group’s scope of operations compared to the first half of 2019, note the acquisition in July of the waste treatment plants belonging to Pistoia Ambiente in Tuscany and, in December, the closing of the partnership between Hera and Ascopiave. This latter transaction led, through EstEnergy, to the birth of the largest energy operator in North-Eastern Italy while at the same time redistributing the respective activities in gas distribution. In recent weeks, lastly, Hera stock was included in the FTSE4Good Index Series, a set of ethical indices conceived by FTSE Russell to bring together the best companies who, around the world, are actively committed to sustainable development. This important recognition came just over one year after Hera was listed on the FTSE MIB. Revenues rise to over 3.4 billion euro In the first half of 2020, revenues amounted to 3,402.3 million euro, up 30.7 million (+0.9%) over the 3,371.6 million seen in the same period of 2019. This growth was mainly due to the changes in the scope of operations, which offset the fall in revenues for trading, production and sales of electricity and gas, heat management and district heating. Revenues also fell in the waste management sector, owing to lower revenues in electricity generation and lower volumes of waste treated. Ebitda increases to 559.7 million euro Ebitda settled at 559.7 million euro, up 13.8 million (+2.5%) compared to the 545.9 million seen at 30 June 2019. In the first half of the year, the health emergency impacted all business areas, bringing about an overall decrease in margins coming to roughly 30 million euro, entirely due to non-recurring effects and in line with the projections communicated in late March, when the year-end report was approved. In spite of this, the changes in the scope of operations, especially the entry of the companies belonging to the EstEnergy Group following the partnership with Ascopiave, along with the numerous measures introduced to enhance efficiency, allowed Hera to offset the negative effects and keep growing, above all in the energy areas. Net profit rises to 174.9 million euro Profits at 30 June 2020 came to 174.9 million, up slightly (+0.6%) compared to the 173.9 million seen at 30 June 2019, while profits pertaining to Group shareholders amounted to 166.2 million euro, in line with the same period in the previous year. These results benefitted from a tax rate coming to 27%, a clear improvement with respect to the 28.7% recorded in the first half of 2019, thanks in particular to the Group’s efforts in sustaining significant investments supporting a technological, digital and environmental transformation, in addition to the positive effects of the measures introduced by the government in the Relaunch Decree. Over 240 million invested, improvement in financial position In the first six months of 2020, the Group’s overall investments amounted to 240.6 million euro, up 16.2% compared to the 207.0 million recorded at 30 June 2019. Operating investments mainly concerned interventions on plants, networks and infrastructures, in addition to investments involved in an intensive meter substitution and in the purification and sewerage area. Total investments also included financial investments coming to 45.5 million. The Group’s net financial position, which reached 3,083.6 million euro at 30 June 2020, showed a 190 million (5.8%) decrease compared to the 3,274.2 million seen at 31 December 2019. This was due to a positive cash generation that entirely financed investments and M&A transactions, and that would also have been able to cover the annual dividend payment, which was postponed by a few weeks simply as a precautionary measure and regularly paid on 8 July. Statement by Executive Chairman Tomaso Tommasi di Vignano “We are satisfied with our ability to protect these half-year results from the negative impact of the Coronavirus emergency. Continuing efforts will be made in pursuing growth during the second half of the year as well, in line with the targets set out in our Business plan, hoping that the external context also moves in the direction of a complete recovery. Our solid growth levers (internal growth and M&As) have allowed us to continue creating value for our shareholders, by paying more than 160 million euro in overall dividends in early July, entirely covered by the cash generation achieved over the period”. Statement by CEO Stefano Venier “Thanks to the numerous initiatives introduced and our growth strategy, we have succeeded in containing the negative financial impact of the Coronavirus emergency within the limit foreseen, at the same time confirming our profitability and financial solidity, as witnessed by the positive figures in the income statement and the decreased net financial position. In addition to meeting our commitments with shareholders and providing continuity in all main services, producing positive effects for our network of service suppliers as well, this solidity allowed us to sustain our stakeholders experiencing difficulty, including customers and suppliers, confirming our close relations with local communities”. PROFIT & LOSS (MLN €) 30/06/2020 INC. % 30/06/2019 INC. % VAR. ASS. VAR.% Sales 3,402.3 3,371.6 +30.7 +0,9% Other operating revenues 222.6 6.5% 249.0 7.4% (26.4) (10.6%) Raw material (1,605.1) (47.2%) (1,699.2) (50.4%) (94.1) (5.5%) Services costs (1,151.0) (33.8%) (1,075.1) (31.9%) +75.9 +7.1% Other operating expenses (32.5) (1.0%) (29.8) (0.9%) +2.7 +9.1% Personnel costs (290.9) (8.5%) (286.6) (8.5%) +4.3 +1.5% Capitalisations 14.3 0.4% 16.0 0.5% (1.7) (10.6%) Ebitda 559.7 16.5% 545.9 16.2% +13.8 +2.5% Depreciation and provisions (264.0) (7.8%) (257.0) (7.6%) +7.0 +2.7% Ebit 295.7 8.7% 288.9 8.6% +6.8 +2.4% Financial inc./(exp.) (56.2) (1.7%) (44.9) (1.3%) +11.3 +25.1% Pre tax profit 239.5 7.0% 244.0 7.2% (4.5) (1.8%) Tax (64.6) (1.9%) (70.1) (2.1%) (5.5) (7.9%) Net profit 174.9 5.1% 173.9 5.2% +1.0 +0.6% Attributable to: Shareholders of the Parent Company 166.2 4.9% 166.2 4.9% +0.0 +0.0% Minority shareholders 8.7 0.3% 7.7 0.2% +1.0 +13.1% BALANCE SHEET (MLN €) 30/06/2020 INC.% 31/12/2019 INC.% VAR. ASS. VAR.% Net fixed assets 6,893.2 113.3% 6,846.3 108.9% +46.9 +0.7% Working capital (172.3) (2.8%) 87.0 1.4% (259.3) (298.0%) (Provisions) (638.7) (10.5%) (649.1) (10.3%) +10.4 (1.6%) Net invested capital 6,082.2 100.0% 6,284.2 100.0% (202.0) (3.2%) Net equity 2,998.6 49.3% 3,010.0 47.9% (11.4) (0.4%) Long term net financial debt 3,370.1 55.4% 3,383.4 53.8% (13.3) (0.4%) Short term net financial debt (286.5) (4.7%) (109.2) (1.7%) (177.3) +162.4% Net financial debts 3,083.6 50.7% 3,274.2 52.1% (190.6) (5.8%) Net invested capital 6,082.2 100.0% 6,284.2 100.0% (202.0) (3.2%) 1H results 2020-05-13 Read more 1H2020_870x320_eng.1596012193-2.jpg Although feeling the impact of the Coronavirus emergency, the half-year report shows operating-financial indicators rising, thanks to increased efficiency achieved in the Group’s various business areas and the recently enlarged scope of operations. /-/hera-bod-approves-1h-2020-results-1 Press release 1H results

On 6 June 2011, a violent storm on Rimini severely damaged the city's sewage system. For a community that has been focused on summer tourism for decades, solving this problem and avoiding environmental impacts such as water pollution was an absolute priority. The sea, in fact, is not only a precious tool that drives the city's economy, but also and above all part of Romagna's identity. Now, residents and tourists no longer have to fear sudden downpours, because right in the centre of town, under a terrace overlooking the sea, there is a remarkable work of engineering that watches over Rimini's sewage system. It is part of the Seawater Protection Plan (PSBO – Piano di Salvaguardia della Balneazione), a kind of "gentle giant" that is the largest water reclamation project underway in Italy and one of the most important in Europe, also recognized by the UN for its role in protecting the marine environment. After that storm, we at Hera Group responded to the call for environmental protection and, thanks to an impressive effort undertaken jointly with the Municipality of Rimini, Romagna Acque and Amir, succeeded in proving that keeping the sea clean, guaranteeing its bathing conditions, was indeed a complex undertaking, but not an impossible one. The PSBO is like a great marathon divided into 14 "stages", including the elimination of 11 drains discharging into the sea. It is the culmination of an investment of €154 million, with 130 people working on the project every day, 38 companies involved, and 45 km of new sewage pipelines laid. It started in 2013 with measures that, in the following years, led, for example, to the restructuring of the sewerage system of Rimini Isola (in 2014), the doubling of the Santa Giustina treatment plant (in 2015) and the separation of the sewer networks in North Rimini, so as to close 4 of the 6 drains in that portion of the city. The most important phase of the entire project began in 2016 in Piazzale Kennedy, the heart not only of coastal social life but also of the entire PSBO, with the construction of two tanks the size of 20 Olympic-size pools, located up to 40 meters below ground level, which involved excavating 70 thousand m3 of soil. One tank, with a capacity of 14 thousand m3, collects the water from the first flush of rain while the other, with a capacity of 25 thousand m3, temporarily holds and "stores" the rainwater, which can be sent to the purification plant or into the sea in the event of heavy rainfall. When average rainfall occurs, the tanks fill in 70 minutes, or 30 for particularly heavy downpours. A forced ventilation mechanism (with abatement using activated carbon filters) has solved the problem of bad odours. Lastly, to protect our beaches, over 21 thousand m3 of top-quality sand have been collected. With a view to a circular economy, they have already been used to replenish Rimini's coastline. Now that, after months of work, this fundamental component of the PSBO is complete, the two new waterfront terraces in Piazzale Kennedy cover the complex underground structure. The architecture of the terraces was designed by Studio Mijic of Rimini. The first terrace opened to the public in July 2019 and the other one opened today. The Piazzale Kennedy project is the fruit of great workdone not only jointly with the Municipality, Romagna Acque and Amir, but also with all the tour operators in the area and the residents, who have endured months of hardship in such a central area of the city that, for over 60 years, has been the holiday postcard of millions of tourists, both Italian and foreign. To date, more than 5 thousand m2of coastline have been "freed" from swimming bans, and the construction work is now 90% complete. By 2024, all 11 drains discharging into the sea will have been eliminated. The most important phases of Rimini's Seawater Protection Plan 2013: Start of work on the PSBO (Rimini Seawater Protection Plan) 2014: Rimini Isola sewer decontamination 2015: Doubling of the Santa Giustina treatment plant 2016: Start-up of the Piazzale Kennedy construction site Other measures carried out in recent years: 1. Testing of the North backbone 2. Construction of the hospital tank 3. Reconversion of the Rimini Marecchiese treatment plant 4. Construction of the first and second portions of the South backbone 5. Burial of the Ausa canal 6. Separation of the sewerage networks in North Rimini July 2019: Completion of the first waterfront terrace in Piazzale Kennedy July 2020: Completion of the second waterfront terrace and total reopening of Piazzale Kennedy Piazzale kennedy 2020-05-13 Read more piazzale_kennedy_870.1595953446.jpg After many months of relentless work, we have reached another milestone of the Seawater Protection Plan, the major water work that will eliminate drains discharging into the sea. Below the new waterfront terrace, two tanks the size of 20 Olympic-size pools are in place to keep watch over the sewage system piazzale kennedy

Integrated Governance 110x Turning sustainability into a lever for financial and business strategy is rewarding. It is indeed rewarding for the Hera Group, which for the third year running claimed the top step of the podium in the sustainable finance category of the 2020 Integrated Governance Index, an authoritative model for analysing the degree to which ESG (Environmental, Social, Governance) factors are integrated within a company's strategy. These factors, alongside the traditional business objectives the company pursues, address social and environmental and governance aspects. Once again, this award attests to the multiutility's competence and focus on sustainability as a factor that contributes to creating shared value not only for the company but above all for the communities and local areas it serves. The latter are both at the heart of the company's growth strategy and are priorities in defining its financial and investment actions. Sustainability at the heart of the multiutility's strategy The multiutility was the first company in Italy to issue a green bond, as early as 2014, followed by a second similar bond in 2019. Two years ago, furthermore, Hera launched its first sustainable revolving line of credit, introducing a bonus mechanism for reaching specific environmental, social, and governance (ESG) goals. These include, for example, further reducing the carbon footprint for energy production, attaining new energy efficiency targets, and improving separate waste collection. Moreover, the Hera Group provides public utility services to 4.4 million citizens: creating shared value and positive side-effects for the communities it serves is a duty and a priority. This is one of the reasons why, for some years now, the Group has decided to measure and publicly release, in its annual sustainability report, the portion of its EBITDA generated by businesses that meet the sustainability goals set out in the UN’s 2030 Agenda. This “shared value” EBITDArose to Euro 422.5 million in 2019, coming to 39% of its total EBITDA, and its new target is set at 42% for 2023, as defined in the Business Plan. The Integrated Governance Index The Integrated Governance Index (IGI) is the only project that quantitatively measures the degree to which ESG factors are integrated into a company’s management model (integrated governance). Developed by ETicaNews, with the scientific and legal support of associations and specialised advisors, this year marks the Index’s fifth edition. This year the businesses invited by IGI to participate included the top 100 listed companies in Italy, businesses that publish a non-financial statement, and the country’s top 50 non-listed companies, setting a record for the number of companies analysed. The 2020 Integrated Governance Index: Hera once again on the podium for sustainable finance 20200715_IGI_2020.1595590785.pdf 2020-05-13 Read more igi_870.1595590784-2.jpg For the third consecutive year, the multiutility took the number one spot in the survey area on the integration of ESG factors into the company's finance. A pioneer in this field with the launch of the first Italian green bond and the first sustainable revolving credit line, Hera has always considered sustainability to be at the heart of its business strategies Press release igi_110.1595590787-2.jpg

sede_hera_110 Today, Hera acquired 4,688,231 Ascopiave shares from A2A, equivalent to 2% of the share capital, for a price set at 3.905 euro per share and a total of roughly 18.3 million euro. The shareholding acquired, which arose out of a market opportunity, follows up on the similar transaction seen on 31 January 2020. In the present case as well, it was carried out jointly with Asco Holding, in order to reinforce the previously existing partnership with EstEnergy. sede_hera_870 2020-06-18 sede_hera_870.1592478679.jpg The operationd, which arose out of a market opportunity, follows up on the similar transaction seen on 31 January 2020 /-/hera-acquires-an-additional-2-of-ascopiave-share-capital-1 Press release sede_hera_110

Alexa After 400,000 downloads, Il Rifiutologo App, created by the multiutility to help customers with separate waste collection, now enters a new phase and for the first time can talk. The App talks through Alexa, the artificial intelligence created by Amazon to give a voice to the smart devices that we all have now. You can now add Il Rifiutologo on your Alexa app, who acts as the “friend” you can ask for basic information about the waste collection service provided by Hera Group in your municipality. The features of the first version, that are already operational, allow Alexa to give you the door-to-door waste collection schedule for the week, and answer more specific questions, for example about a particular type of waste. How to download the App and how it works Activating Il Rifiutologo is fast and simple. Simply download and open Amazon’s Alexa app, access “Skills and games” on the menu in the top left hand corner and enter the words Il Rifiutologo. Otherwise, simply connect to the Amazon site by typing “Il Rifiutologo Skill” in the search bar on the web page. Once you have enabled the Skill, simply say, “Alexa, open Il Rifiutologo”. On the first access, the personal assistant will ask you for your address in order to access the information for the collection method of that particular area. Now enable the voice command and say "Alexa, ask Il Rifiutologo...”, followed by the information you need. Waiting for the next versions... And it doesn't end here, because the future releases will feature new developments. Gradually Alexa will become a real expert in separate waste collection, together with the other functions of Il Rifiutologo such as the most popular function, which associates each material to the correct waste collection method. In addition to the “Where do I throw it?” feature, which helps you improve the quality of you separate waste collection, other skills will be added, including notifications that anticipate your requests, reminding you, for example, when to put out specific waste for collection. Alexa 2018-05-17 Read more Alexa Hera Group continues to focus on innovation and digitalisation: Alexa - Amazon's artificial intelligence - now interacts with Il Rifiutologo, the multiutility’s App that helps citizens with separate waste collection. The door-to-door function, that reminds the user on what days different materials are collected in its municipality, is already active. More functions will be coming soon centrata Alexa

1Q_2020_eng_110 Financial highlights Revenues at 2,055.8 million euro (+5.9%) Ebitda at 349.2 million euro (+5.6%) Net profit at 130.3 million euro (+0.5%) Net financial position at 3,229.1 million euro Operating highlights Good contribution to growth coming from main businesses, the energy and waste management sectors in particular Solid customers base in energy sectors, with a strong rise to 3.3 million customers, thanks to the recent partnership with Ascopiave A wide range of activities introduced to protect and sustain all stakeholders, first and foremost customers, with favourable conditions granted for paying bills Today, the Hera Group’s new Board of Directors, which came into office on 29 April 2020 and is chaired by Tomaso Tommasi di Vignano, unanimously approved the Group’s consolidated operating results for the first quarter. Improvement was seen over the same period in 2019, thanks to the contribution coming from internal growth and M&As, which proved able to more than offset the effects of the mild winter temperatures and the health emergency that has struck the country. The financial solidity that has always marked this multi-utility saw further improvement during the quarter, and allowed many measures to be proactively introduced, quite early, when the emergency had not yet affected the areas served. These measures are aimed at ensuring not only continuity in the Group’s services, but also support and protection for all stakeholders, above all employees, suppliers and customers, for example in the favourable conditions granted for paying bills. In general, the results reached confirm the validity of the Group’s business model, which balances regulated and free market activities and, in line with the indications provided in the Business plan, promotes growth, sustainability and innovation, which have proven to be effective competitive levers in creating value for the areas served and all stakeholders. The main changes in the Group’s scope of operations compared to the first quarter of 2019 include the acquisition last May of Cosea Ambiente, the company that manages the urban and assimilated waste service owned by 20 municipalities in the Tuscan-Emilian Apennine area, including a ten-year grant for managing the Cosea Consorzio landfill in Gaggio Montano; the acquisition in July of Pistoia Ambiente’s waste treatment plants in Tuscany; and, lastly, in December the finalisation of the partnership between Hera and Ascopiave, which acting through EstEnergy created the largest energy operator in North-Eastern Italy and at the same time led to a reorganisation of the two Groups’ gas distribution activities. Revenues reach over 2 billion euro In the first quarter of 2020, revenues amounted to 2,055.8 millioneuro, up compared to the 1,940.4 million seen in the same period of2019. This result was largely sustained by changes in the scope of operations, which more than offset lower revenues for electricity and gas trading, production and sales, heat management and district heating, as well as commissions in the water service. Revenues in the waste management sector increased. Ebitda rises to 349.2 million euro Ebitda went from 330.8 million euro in the first three months of 2019 to 349.2 millionat 31 March 2020, showing an 18.4 million(+5.6%) increase. This growth in Ebitda is due in particular to the performance seen in the energy areas, which were up by 17.2 million euro overall, mainly owing to the entry of the companies belonging to the EstEnergy Group, as well as the waste management area, while the water cycle area showed a slight drop. Operating result increases and pre-tax profit remains stable The net operating result also increased to 211.7 millioneuro at 31 March 2020, up compared to the 205.0 million seen at the same date in2019 (+3.3%). A 7.6 million euro change occurred in financial operationsat 31 March 2020, coming to 28.7 millioneuro, mainly due to the imputed costs involved in the put option concerning the amount held by Ascopiave and lower profits from joint ventures, mainly due to the consolidation of EstEnergy. Pre-tax profits came to 183.0 millioneuro, essentially in line with the 183.9 million seen in the first three months of2019. Net profit rises to 130.3 million (+0.5%) Net profit at 31 March 2020 increased to 130.3 millioneuro, up 0.5% over the 129.7 million seen one year earlier. Profits pertaining to Group Shareholders, instead, came to 124.4 millioneuro, with a slight increase compared to the 124.2 millionrecorded for the first quarter of2019. These results bear the effects of a28.8% tax rate, an improvement compared to the 29.5% seen one year earlier, thanks in particular to the Group’s commitment to making investments in technological and digital transformation, along the lines of Utility 4.0. Over 118 million in investments; net financial position improves Overall investments in the first three months of 2020 amounted to 118.6 millioneuro, as against 92.7 millionin the same period of the previous year, and mainly went towards interventions on plants, networks and infrastructures, in addition to investments concerning an intensive meter substitution and the purification and sewerage areas. Total investments also include financial investments coming to 27.2 million. Thanks to a positive cash flow generation, net financial debt, coming to 3,229.1 millioneuro, showed a roughly 45 millioneuro drop compared to December 2019. The Net debt/Ebitda ratio settled at 2.93x, confirming the Group’s financial solidity (2.44x excluding the EstEnergy put option). The average time to maturity of overall debt is more than 6 years. Profit & Loss (m €) 31/03/2020 Inc.% 31/03/2019 Inc.% Ch. Ch.% Sales 2,055.8 1,940.4 +115.4 +5.9% Other operating revenues 109.0 5.3% 121.0 6.2% (12.0) (9.9%) Raw material (1,035.4) (50.4%) (1,024.6) (52.8%) +10.8 +1.1% Services costs (627.2) (30.5%) (556.7) (28.7%) +70.5 +12.7% Other operating expenses (12.5) (0.6%) (13.1) (0.7%) (0.6) (4.6%) Personnel costs (147.3) (7.2%) (142.9) (7.4%) +4.4 +3.1% Capitalisations 6.8 0.3% 6.7 0.3% +0.1 +1.5% Ebitda 349.2 17.0% 330.8 17.0% +18.4 +5.6% Depreciation and provisions (137.5) (6.7%) (125.8) (6.5%) +11.7 +9.3% Ebit 211.7 10.3% 205.0 10.6% +6.7 +3.3% Financial inc./(exp.) (28.7) (1.4%) (21.1) (1.1%) +7.6 +36.1% Pre tax profit 183.0 8.9% 183.9 9.5% (0.9) (0.5%) Tax (52.7) (2.6%) (54.3) (2.8%) (1.6) (2.9%) Net profit 130.3 6.3% 129.7 6.7% +0.6 +0.5% Attributable to: Shareholders of the Parent Company 124.4 6.0% 124.2 6.4% +0.2 +0.2% Minority shareholders 5.9 0.3% 5.5 0.3% +0.4 +7.3% Balance Sheet (m €) 31/03/2020 Inc.% 31/12/2019 Inc.% Ch. Ch.% Net fixed assets 6,876.5 108.7% 6,846.3 108.9% +30.2 +0.4% Working capital 96.8 1.5% 87.0 1.4% +9.8 +11.3% (Provisions) (650.0) (10.3%) (649.1) (10.3%) (0.9) +0.1% Net invested capital 6,323.3 100.0% 6,284.2 100.0% +39.1 +0.6% Net equity 3,094.2 48.9% 3,010.0 47.9% +84.2 +2.8% Long term net financial debt 3,379.7 53.4% 3,383.4 53.8% (3.7) (0.1%) Short term net financial debt (150.6) (2.4%) (109.2) (1.7%) (41.4) +37.9% Net financial debts 3,229.1 51.1% 3,274.2 52.1% (45.1) (1.4%) Net invested capital 6,323.3 100.0% 6,284.2 100.0% +39.1 +0.6% Hera BoD approves 1Q 2020 results 2020-05-13 Read more 870x320_eng.1589362662.jpg The consolidated quarterly report at 31 March shows growth in results, thanks to the contribution coming from the Group's main business areas. Value continues to be created in the areas served, while Hera has proactively introduced numerous measures supporting stakeholders while facing the Covid-19 emergency currently affecting the country. /-/hera-bod-approves-q1-2020-results Press release 1Q_2020_eng_110

Together to move forward We have also activated a COVID-19 insurance policy for all employees of the Hera Group who are infected, bearing the corresponding cost. Insurance policy 2020-04-09 scudo.1584484923.png We are regularly providing most of our local services. We have also put special measures in place to protect the health of our customers and employees.We recommend using telephone and online contact channels, including the My Hera app. Families and businesses facing financial hardship are able to ask us for payment extensions and instalments on their bills sinistra Together to move forward

President_and_CEO_110 The ordinary and extraordinary sessions of the Hera Shareholders' Meeting were held in Bologna this morning. Following the resolutions approved, the Meeting appointed the members of the Board of Directors and the Board of Statutory Auditors for the next three years. Furthermore, the 2019 financial statements were approved, as was the ensuing payment of a dividend coming to 10 cents per share. Financial statements approved, with strong growth in results In the ordinary session, the Meeting approved the 2019 financial statements, whose results showed further improvement over the previous year, more than offsetting the significant impact of another partial reduction in incentives for waste to energy plants and lower margins from safeguarded customers. The partnership with Ascopiave, which was finalised in December 2019 and led to the creation of the main energy operator in North-Eastern Italy, will contribute to results as of the beginning of the current year. Go-ahead given to a 10 cent/share dividend payment The Meeting thus approved the Board of Directors' proposal to pay a 10 cent/share dividend, reflecting the intention previously announced in the Business plan. The coupon date has been set at 6 July 2020, with payment as of 8 July 2020. The overall 2019 return for Shareholders thus came to 50%, owing to the annual dividend approved and the increase in the value of Hera stock during 2019, sustained by results exceeding expectations and its inclusion in the FTSE MIB index. Further confirmation was thus given to the Group's commitment towards creating value for allstakeholders, with the Business plan calling for a transparent dividend policy, increasing to 12 cents in 2023. The sustainability report: shared value Ebitda at 422.5 million The 2019 sustainability report was also presented during the Meeting. This document shows that the Group's improvement in operating-financial results is accompanied by an increased creation of shared value and positive effects for the areas served, in the interests of local communities and, more generally, all stakeholders, in line with the United Nations' Global Goals. In particular, in 2019 the Hera Group's shared value Ebitda came to 422.5 million euro, accounting for 39% of overall Ebitda (+13% over the 375.2 million seen the previous year). This result perfectly reflects the projections included in the Business plan, which expects this figure to reach 42% in 2023. Appointment of the Board of Directors Furthermore, the members of the Board of Directors were chosen for the next three years (until the Shareholders Meeting called to approve the 2022 financial statements). The results of the vote led the following to be appointed: Majority list (representing Hera's public shareholders agreement): Tomaso Tommasi di Vignano, Stefano Venier, and the independent directors Gabriele Giacobazzi, Monica Mondardini, Fabio Bacchilega, Danilo Manfredi, Lorenzo Minganti, Manuela Cecilia Rescazzi, Marina Vignola, Alessandro Melcarne and Federica Seganti. Minority list: the independent directors Erwin Paul Walter Rauhe, Paola Gina Maria Schwizer, Alice Vatta, Bruno Tani. The CVs of the new directors are available on the webpage: Shareholder's meetings Appointment of the Board of Statutory Auditors As regards the Board of Statutory Auditors, the following were appointed: Majority list (representing Hera's public shareholders agreement): Marianna Girolomini, Antonio Gaiani (standing auditors), Valeria Bortolotti (alternate auditor). Minority list: Myriam Amato (Chairman), Stefano Gnocchi (alternate auditor). The CVs of the new auditors are available on the webpage: Shareholder's meetings Presence of women in the BoD and the Board of Statutory Auditors The composition of the corporate governance bodies fully respects the content of Law no. 160, 27 December 2019, effective as of 1 January 2020. Replacing the previous Law no. 120 (2011), this law raised the percentage of members from at least one third to two fifths as regards both administration and control bodies, and increased the period in which the new criterion for subdivision is valid to six consecutive mandates. The number of women in the Board of Directors comes to 6 members out of 15, and in the Board of Statutory Auditors comes to 1 standing auditor out of 3. As regards the Board of Statutory Auditors, Communication Consob no. 1 of 30 January 2020 clarified, in fact, that in appointing control bodies made up of three standing auditors, the amount required is to be rounded down to the nearest whole number. Chairman and CEO confirmed The inaugural meeting of Hera's new Board of Directors, appointed during the morning by the Shareholders Meeting, was held in the afternoon in Bologna. This body proceeded to appoint its Chairman, Vice Chairman and CEO. Tomaso Tommasi di Vignano was confirmed as Hera's Chairman, acting as executive administrator. Born in Brescia, he has been at the head of the Hera Group since its creation in 2002, after gaining considerable experience in the telecommunications and utilities sectors. Gabriele Giacobazzi was appointed as Hera's (non-executive) Vice Chairman. Born in Modena, he is the President of Italy's Association of Engineers and adjunct professor at the University of Modena and Reggio Emilia's Faculty of Engineering. The offices he has previously held include President of the Politecnica cooperative, in the planning sector, and he has also chaired the Oice, the National association of planning organisations, affiliated with Confindustria. Stefano Venier was confirmed as CEO. Born in Udine and at Hera since 2004, in the past he held the office of General Director for Development and Market. Previously, Venier covered positions involving increasing responsibility in the Eni Group and within a leading international consulting firm, for which he acted as Vice Chairman for Energy & Utilities from 2002 to 2004. The confirmation of the Executive Chairman and the CEO bears witness to the continuity seen in the Group's governance, which is one of the Hera Group's main strong points. President_and_CEO_870 2020-04-29 Further Information Tomaso_Tommasi_di_Vignano_Stefano_Venier_870.1588159615.jpg The Group continues along its path of growth, creating value for shareholders and local areas. Continuity in governance, with the new Board of Directors confirming Tomaso Tommasi di Vignano as Executive Chairman and Stefano Venier as CEO /-/hera-shareholders-meeting-top-executive-management-confirmed-and-10-cent-dividend-approved-1 /group_eng/corporate-governance/shareholders-meetings /documents/1514726/4210686/Financial+results+as+of+31_12_2019.pdf/ca71a0b9-a147-d1af-4660-7e0a8c6f7b6b?t=1629971549137 /documents/1514726/4185885/Sustainability_report_2019_Highlights.1587713100.pdf/bdb93dd1-fef6-23cb-1d83-1b1d2daf7979?t=1595941322823 Press release Visit the section dedicated to the Shareholders' Meeting 2019 Financial Results 2019 Sustainability Report Highlights President_and_CEO_110

assemblea_soci_110 Due to the ongoing health emergency, the Hera Group Shareholders' Meeting, confirmed for 29 April, 2020, won't be held in the usual modalities. However, we have prepared all the instructions and procedures so that members can take advantage of the voting right. We therefore invite the shareholders to send their voting instructions, regarding each item on the agenda, to an Appointed representative, who will act on them during the Meeting. On this page, it's possible to find everything required to proceed in addition to a few tools intended to make the necessary procedures simpler to comprehend. We remind that this participation procedure demands earlier deadlines respect to the ones used in the past. assemblea_soci_870 /group_eng/corporate-governance/shareholders-meetings 2020-04-15 For further information assemblea_870x320_eng.1587045076.jpg Due to the health emergency, this year the Meeting won't be able to see the physical presence of the members. To take advantage of the voting right, all legitimate shareholders must send the proxy and the voting instructions to the Designated Representative as soon as possible. The deadline for submitting the form is Monday 27 April. /group_eng/corporate-governance/shareholders-meetings Find out how to participate assemblea_soci_110

BE_2019_ENG_110 Just a few days after the approval of the financial results as at 31 December 2019, Hera Group's financial statement 2019 can today be consulted in full online. In just a few clicks, you can browse the various sections, read the comments of the Executive Chairman Tomaso Tommasi di Vignano and of the Chief Executive Officer Stefano Venier, and consult the data that bear witness to the work of all business areas. The graphic layout guarantees a simple and instant user experience, with numerous interactive graphs regarding the main economic indicators, benchmarks and the goals for 2023. It also enables users to compare the latest results with those of the previous year, and provides useful information for all stakeholders, for example about Stock market trends and relations with shareholders. Investor Case is a useful tool for those interested in investing into Hera, with data that provide a general overview ofbusiness, of growth factors and of the Group's sustainable approach, from the viewpoint of shared value. These two themes are precisely the focus that enriches the web version of the financial statements 2019. In fact, sustainability and shared value are the two pillars on which the Group strategy is built, combining economic and financial targets with environmental and social goals, in keeping with the objectives of the UNAgenda 2030. More specifically, five aspects of Group management are analysed in terms of sustainability: returns on investment, green finance, crisis management, payment system and proxy advisor management. The web version of the Financial statements 2019 is therefore the fruit of the commitment to absolutely transparent accounting, and details a year closed with improved performance, confirmation of a development programme now 17 years in progress. Development that continues to balance internal and external growth, with the achievement of major economies of scale and greater synergies, thanks to a multi-business strategy which has proved a winner over the years. BE_2019_ENG_870 https://eng.gruppohera.it/group/investor_relations/financial_results_presentations/be2019/ 2020-04-10 To find out more be_870x320_eng.1586514890.jpg The result of our commitment to reporting with transparency, the online version of the Financial Statements tells about 17 years of continuous growth, with the improvement of the main economic-financial and sustainability indicators /documents/1514726/4210686/Financial+results+as+of+31_12_2019.pdf/ca71a0b9-a147-d1af-4660-7e0a8c6f7b6b?t=1629971549137 /-/hera-group-approves-results-at-31-12-2019 Consult the version of performance Y2019 Go to the press release about performance Y2019 BE_2019_ENG_110

Financial results as at 31 December 2019 Turnover at 7,443.6 million euro (+12.3%) Ebitda at 1,085.1 million euro (+5.2%) Net profits at 402.0 million euro (+35.5%) Proposed dividends at 10 Euro cents per share The Hera Group closed 2019 with growing results, validated by the Board of Directors on 25 March and pending approval by the Shareholders' Meeting scheduled for the end of April. The partnership with Ascopiave, completed last December and responsible for the creation of the largest energy operator in the North-Eastern Italy, will be consolidated in the results of 2020. The Group’s path of development, in its 17 years of life, continues to combine internal and external growth, reaching significant economies of scale and increasing synergies, thanks to a multi-business industrial strategy that over time has proven to be a winning strategy for Hera, now Italy’s leading multi-utility by capitalisation. The improvement in operating-financial results goes hand in hand with the growing creation of shared value, which has long become the thermometer of the company's progress towards sustainability. Good contribution to growth coming from business areas, especially the gas, water and waste management sectors Positive results thanks to both internal and external growth Sharp rise in energy customers, which reach roughly 3.3 million thanks to the partnership with Ascopiave Sorted waste increases to an average of 64.6% across the areas served Improvement in all sustainability indicators, with shared value Ebitda growing to 422.5 million euro (+13%) “These results - commented the Executive Chairman Tomaso Tommasi di Vignano commented - demonstrate the merits of Hera’s multi-utility formula which, in a year made difficult by factors including a significant negative impact in the safeguarded customer segment, was able to deploy a wide range of development projects that guaranteed, quarter after quarter, positive growth in all activities. Our expectations were thus outperformed and, at the same time, our track record with 17 years of uninterrupted growth was confirmed, further improving our financial solidity in a year in which unprecedented efforts were seen in capital expenditures. In 2019, furthermore, two fundamental targets included in the business plan to 2022 were reached in advance: the finalised transaction with Ascopiave led the Hera Group to amply meet its objective of 3 million energy customers and, with our enlarged set of waste treatment plants, we were fully able to grasp the positive market trends seen as of 2019”. "The growth achieved with these results - added the CEO Stefano Venier - is also characterized by the creation of value. A value that continues to progress towards a greater sharing and in respect of 11 out of 17 fundamental goals defined by the UN. The progress made by this value shows that it is increasingly shared, respecting 11 out of the 17 fundamental goals defined by the UN. The Group’s risk profile, now more important than ever, continues to be extremely conservative, and has allowed the Group to continue expanding through a transaction, involving Ascopiave, that brought us among the highest-ranking companies in Italy for energy sales, only behind the two ex-incumbent energy groups. These are solid grounds, therefore, on which to rely in difficult moment, such as the one currently witnessed due to COVID-19, with respect to which we were able to activate, in a short period of time, all measures necessary to guarantee that our activities are not interrupted and health protection is provided for our employees and for all our stakeholders, along with proactive assistance for all our customers, whether households or companies”. Financial results as at 31 December 2019 2020-03-25 For further informations be_870x320_eng.1585142936 (1).jpg 17 years of continuous growth, with the improvement of the main economic-financial and sustainability measures. /-/hera-group-approves-results-at-31-12-2019 /group_eng/investors Press release Investor Relations Financial results as at 31 December 2019

Legality and transparency The sustainable growth of companies is often threatened by the risk of corruption. Thanks to the new UNI ISO 37001 standard, all companies and organizations have an additional tool to actively contribute to the fight against corruption. The directive, which is adhered to on a voluntary basis, provides for a certification issued only in the presence of certain characteristics. The Hera Group has obtained the important certification after a careful study conducted by company working groups on some areas of intervention. With the involvement of the company structures that operate on sensitive processes, it was possible to guarantee compliance with the requirements of the standard. As required by UNI ISO 37001, the Group has therefore defined a specific Anti-corruption Policy, a Training Plan and a Compliance Function coinciding with the Supervisory Body. We therefore continue in the wake already traced by the Code of Ethics, which contains the commitments and responsibilities that those who work at Hera assume in the context of every company activity and in the relationship with colleagues. The achievement of this certification further enhances the effectiveness of the tools already present in the multiutility to counter any cases of corruption, including the 231 Organization and Management Model which governs the liability of entities for administrative offenses resulting from a crime. "This important result - underlines the Internal Auditing Director of the Hera Group, Antonella Esposito - further strengthens the objectives of excellence that the Group has always pursued and targets the constant commitment of each employee in the prevention of corruption". Legality and transparency 2020-03-25 For further informations 870x320_C.1582791414.1599117168 (1).png It represents a further tool for the fight against corruption /group_eng/corporate-governance/internal-auditing Visit the web page dedicated to the Internal Auditing Department Legality and transparency

All services are operating normally. In any event, customers are advised to prefer the use of phone and online contact methods, including the My Hera app With reference to protection measures against the coronavirus (COVID-2019), the Hera Group reports that all services managed in the country are operating normally, as are the emergency services. All local offices are open as normal, though customers are invited to give preference to contact by phone and online, visiting the branch offices only if necessary. For any matters to be processed, note that the toll-free Customer Service numbers operate from Monday to Friday, 08:00 to 22:00, Saturdays 08:00 to 18:00 (800.999500 for domestic utilities, 800.999700 for non-domestic utilities), whilst the online services and the My Hera app operate 24/7. As the multiutility's key assets are its personnel and their protection is a priority, additional protective measures have been implemented to limit the spread of the virus. In addition to the instructions to contact the number 1500 for all health-related information and 112 for healthcare assistance requests in the event of obvious symptoms, the company has disseminated Ministry of Health communications containing the conduct to adopt, posted on all noticeboards and on the company Intranet, and a dedicated e-mail address has been set up to which employees can write to obtain information and clarifications. As a precautionary measure, all cleaning activities at head offices and branches are being intensified. Employees who are pregnant or who suffer from immune depression, and anyone with breathing difficultiesor flu symptoms, even if mild, or who have come into contact with persons who could have contracted the virus, are invited to contact their GP to consider absence from work.Again as a precautionary measure, all employees are invited to reduce business travel to areas close to those affected by Authority measures, where possible giving preference to meetings via video-conferencing or phone links. Suppliers are invited to abide by these measures adopted by the company. 20200224_Hera_Group_protection_measures_against_the_coronavirus.1583164102.pdf 2020-02-24 All services are operating normally. In any event, customers are advised to prefer the use of phone and online contact methods, including the My Hera app Read more together_110.1588000544.png

sede_Hera_110 Hera acquires 2.5% of Ascopiave's share capital from Amber. The shareholding purchase operation, which arose from a market opportunity, was shared with Asco Holding. It further reinforces the partnership launched with the transaction finalised last December and will be followed by a similar transaction by Ascopiave. sede_Hera_870 20200131Hera_acquires_2.5_of_Ascopiave_s_share_capital.1580457785.pdf 2020-01-31 sedeHera_870.1580456290.jpg The operation arose from a market opportunity, shared with Asco Holding sede_Hera_110

SDG_Action_110 Hera is part of the international team which collaborated in the conception and design of SDG Action Manager, the tool launched on 29 January 2020 by the United Nations Global Compact and BLAB with the aim of involving all cultural and business sectors in the building a Common Global Agenda, to improve people's lives and save our planet. SDG Action Manager offers a transversal way, to every type of business, an opportunity to know, manage and directly improve sustainability performance. The tool brings together the characteristics of B Lab's B Impact Assessment, the Ten Principles of the UN Global Compact and the Sustainable Development Goals UN agenda, and enables commercial activities to self-evaluate themselves in a dynamic way, arriving at a comparative analysis and a subsequent improvement. The international team also includes 2 other Italian companies, Enel and Chiesi Farmaceutici, also included, like the Hera Group, among 65 stakeholders who stand out for good industry practices: 30 business companies with competence in corporate sustainability and 36 bodies of the civil society, UN organizations and academia. SDG_Action_870 2020-01-31 Read more sdg_870.1580463032.jpg The tool provides all types of business an opportunity to learn about, manage, and directly improve their sustainability performance https://bcorporation.net/welcome-sdg-action-manager Visit B Corporation website SDG_Action_110

TE_2020_110 Never change a winning team. On the contrary: invest in it, to make it bigger and stronger. The Hera Group knows this well, and continues to dedicate resources, attention and commitment to its 9,000 employees. All of this has been certified, for the eleventh consecutive time, by the Holland-based Top Employers Institute, which has been researching quality standards in people practices since 1991. Hera has once again been recognised for its strategy, focused on people, and its best practices in terms of welfare, workplace environment, development and training. Top Employers is one of the most prestigious awards in this area, internationally. The exacting process through which companies are selected and certified is based on data analyses and detailed assessments concerning: investments in training and development, welfare policies and on-boarding for new hires, careful planning of selection processes and career paths, strategies aimed at increasing talent, corporate culture and a constructive workplace. Attention towards human resources is a key part of the Hera Group's strategic management. After all, the rapid changes seen in its external context, with factors including the environment, society, markets and technology, call for businesses to become increasingly agile, geared towards continuous improvement and able to do business while pursuing goals that are in the common interest. The Group's organisational procedures themselves are highly innovative, based on getting all employees involved, so that they can give meaning to their concrete operations, in line with the company's purpose. In so doing, Hera relies on a few of the best practices that have distinguished it for some time. Most importantly, "Hextra", the integrated corporate welfare plan intended for all Group employees (with investments reaching 4.9 million euro in 2019), which is characterised by an amount of monetary resources that can be "customised" by each worker, based on their own needs, as well as the possibility of converting part of their bonus for results into further welfare benefits. In order to improve work quality and agility, offices and workplaces have been made increasingly comfortable, functional and collaborative. As early as 2017, smart working was introduced, which, after a trial phase that produced positive and significant results, now involves over 1,500 employees. The Group's commitment to guaranteeing equal opportunity, along with inclusion and diversity valorisation, remains constantly present, as is proved by its recent inclusion in the 2020 Bloomberg Gender-Equality Index and the Refinitiv (priorly Thomson Reuters) "Diversity & Inclusion Index", which in 2019 saw Hera rank third in Italy and fourteenth worldwide, furthermore qualifying as the leading multi-utility overall. These are important results, considering that diversity and inclusion is an increasingly central issue for the international financial community, with investors becoming more interested in listed companies with excellent policies in this area. TE_2020_870 20200130_Top_Employers_2020.1580396096.pdf 2020-01-30 Read more top_employer_2019_870x320.1580396135.png The Group has been certified for the eleventh consecutive year, rewarding a strategic management that focuses on people and gets them involved in pursuing shared goals. Investments in welfare, training, diversity and innovation continue https://www.top-employers.com/en/ /group_eng/working-at-hera-group Visit Top Employers website Visit the "Working in Hera Group" web area Further Informations TE_2020_110

ede_hera_110 The "Bloomberg Gender-Equality Index" (GEI) has included Hera, together with nine other important Italian companies such as Mediobanca, Snam, Acea, Enea, Intesa Sanpaolo and Unicredit, among the 325 most committed companies, globally, in the promotion of gender equality through the development of dedicated policies and projects and transparency in the dissemination of information. The index, presented as part of the World Economic Forum in Davos, in Switzerland, from 21 to 24 January 2020, assesses the financial performance of companies active in terms of equality, and measures their tangibility through five parameters: female leadership and talent enhancement, gender pay equality, inclusive culture, rigid harassment policy and corporate recognition for women. sede_hera_870 2020-01-22 Further informations Hera_870.1579685805.jpg The index, presented at the World Economic Forum in Davos, brings together the 325 companies globally most committed to promoting gender equality policies https://www.bloomberg.com/company/press/bloombergs-2020-gender-equality-index-expands-to-include-325-public-companies-globally/ Read the news ede_hera_110

Hera Group promotes Circular View by Silvia Camporesi Silvia Camporesi - BIOGRAPHY Silvia Camporesi was born in 1973 in Forlì. With a degree in philosophy, she uses the languages of photography and video to develop stories inspired by ancient myths, literature, religions and real life. In recent years her work has focused on the Italian landscape. Since 2004 she has held solo exhibitions in Italy - Dance dance dance at the MAR in Ravenna in 2007, Planasia at the European Photography Festival in Reggio Emilia in 2014, Genius Loci at the MAC in Lissone in 2017 - and abroad - À perte de vue at the Chambre Blanche in Quebec in 2011; 2112, Saint James Cavalier in Valletta in 2013; Atlas Italiae exhibited at the Abbaye de Neumünster in Luxembourg in 2015, and Art Musings in Mumbai in 2017 and Desfours Palace in Prague in 2018. Group exhibitions she has participated in include: Italian camera, Isola di San Servolo, Venice in 2005; Con gliocchi, con la testa, col cuore at MART in Rovereto in 2012; Italy inside out at Palazzo della Ragione, Milan in 2015; Extraordinary Visions at MAXXI in Rome in 2016 and at the Kolkata Centre in Kolkata in 2019, and The Quest of Happiness at Serlachius Museums in Mantta, Finland. In 2007 she won the Celestial Award for Photography; she was among the finalists of the Talent Prize in 2008 and the Terna Award in 2010; she won the Francesco Fabbri award for photography in 2013, the 2015 Artefiera Rotary Award, and the 2016 BNL Award. She has published five books: La Terza Venezia (Trolley, 2012); Journey to Armenia (Quaderni di Gente di Fotografia, 2014), Atlas Italiae (Peliti Associati, 2015), Il mondo è tutto ciò che accade (Danilo Montanari Editore, 2019) and Doppio sguardo (Contrasto Books, 2019). She complements her artistic work with teaching. Her works are present in public and private collections, among which: MAXXI, Rome; MART, Rovereto; BNL Group, Milan. Hera Group promotes Circular View by Silvia Camporesi 2019-07-23 870x500_eng.1579256714.jpg After the SCART exhibition in 2018 and the Gasometro M.A.N. n.3 exhibition by Carlo Valsecchi in 2019, the Hera Group promotes Circular View by Silvia Camporesi, curated by Carlo Sala, from 24 January to 24 February 2020 at Spazio Carbonesi, Bologna. Hera Group promotes Circular View by Silvia Camporesi

Business_plan_110 Tomaso Tommasi di Vignano, Hera Executive Chairman The goals set out in the Business plan we are presenting today are in line with our history: for 17 years, we have been growing uninterruptedly, creating value for the areas in which we operate and for all stakeholders, beginning with our shareholders. This value translates into concrete benefits, concerning for example the investments made in services and plants, which become assets of the area itself, and in the activities in which Hera involves citizens, institutions, workers, suppliers and members of the third sector, acting as an “enabler” for their own growth. Our Plan is able to rely on both a solid initial basis – with preliminary year-end results 3% higher than expected – and significant growth in 2020, sustained among other things by the transaction with Ascopiave, which will now begin to contribute to our results. Stefano Venier, Hera CEO Our Business plan’s orientations, just like the initiatives carried out by Hera in previous years, reflect our growing attention towards sustainable development, circular economy and decarbonisation. Within the Group, sustainability is built into our corporate strategies themselves: by 2023, 42% of Ebitda will involve “shared value”, that is, projects that respond to the goals contained in the Un Agenda. In this area, investments will come to over 950 million euro over the period covered by the Plan, of which 330 million to make our cities increasingly smart, thanks to innovation and technological evolution, or again projects promoting energy efficiency, recovery and reuse of materials, air quality and network resilience, in order to face climate change. What’s more, we are looking even farther into the future, with the objective of reducing the impact of our activities up to 2030, in all areas in which we operate. Preliminary results for 2019 show Ebitda at 1,081 million; a new Plan to accompany development Today, the Hera Group's Board of Directors, chaired by Tomaso Tommasi di Vignano, approved the Business plan to 2023. The year-end projections confirm results exceeding expectations, due to both the highly positive results seen in the third quarter report at 30 September 2019, and the performances projected for the last quarter of the year. Ebitda is expected to reach roughly 1,081 million euro, up 4.85% compared to the 1,031.1 million seen in 2018, with the Net debt/Ebitda ratio settling at roughly 2.5, before including the financial impact of the Ascopiave transaction, which brings this indicator to roughly 3.05. The scenario: options for growth, along with a range of opportunities Even within a complex national economic scenario, marked by limited prospects for growth, Hera intends to continue along its path of development and maintain the resilience it has shown over time in this type of context. This will be achieved by relying on its noteworthy available asset portfolio, the skills of its employees, the diversified portfolio mix and the opportunities now emerging in its various business areas. The growing attention shown by European institutions towards promoting sustainable growth, with interventions such as the recent "A European Green Deal" program, will give further value to the goals already pursued by the Group in recent years, in terms of sustainability, innovation and circularity in its business management models. In regulated sectors, growth opportunities are linked to the reassignment of concessions through tenders and ongoing changes in Arera tariff regulation which, as of 2020, will be responsible for the waste management sector as well. In free market waste management activities, the persistent shortcomings in waste treatment plants on a national and European level sustains a positive trend in prices and demand, going to the advantage of operators provided with adequate infrastructures. As regards free market energy sales, over the period of time covered by the Plan, new yearly/two-year tenders for assigning last resort services are expected to be held and a process of liberalising protected electricity customers "maggior tutela" is expected to be gradually introduced. Growth, risk management and circular economy: the three pillars of the new Business plan In such context, Hera has defined its Plan to 2023 by elaborating marketing and industrial growth strategies based on an increasingly sustainable business model, making the most of the opportunities offered by new technologies and digital evolution. The new strategic document aims at leveraging upon the competitive advantages of its multi-utility portfolio: a wide service portfolio marked by a significant amount of regulated services; solidity in assets and finance; an ability to fund significant investments; a corporate environment and experience geared towards efficiency and innovation; and the investments constantly made in training its roughly 9,000 employees. In particular, the Group has set out its Plan to 2023 by following 3 strategic directives: industrial growth, risk management. Attention towards sustainability remains a fundamental aspect of the Group's strategy, reflecting the goals set out in the 2030 Agenda that concern the Group's activities (covering 11 of the UN's 17 SDGs): almost 3/4 of the growth expected over the period covered by the Plan will be sustained by projects that respond to this "call to action". Almost 2.9 billion euro in investments; solidity confirmed in assets and finance The new Business plan foresees investments coming to roughly 2.9 billion euro, of which roughly 2 billion will go towards maintenance of currently owned plants and 900 million in plant expansion. In particular, investments for internal plant development are expected to rise, now coming to 540 million, 120 more (+30%) than in the previous plan. The attention that Hera has shown over time to the solidity of its assets and its financial balance has allowed to include projects for expansion through M&As in its new strategic document, in addition to the ones already finalised over the previous year, including the partnership with Ascopiave. At the same time, space to manoeuvre remains, as does the flexibility required to grasp any additional opportunities for external growth in the upcoming years, not included in the current Plan. Leader in the waste management area, thanks to sorted waste, solutions for waste transportation and outstanding projects for a circular economy Increases are also expected for Ebitda in the waste management area, which will go from 252 million in 2018 to 307 in 2023, with 618 million in investments expected between 2019 and 2023. In this sector, the Group aims at confirming its commercial and technological leadership in the integrated waste cycle, thanks to its avant-garde set of plants which are in line with European best practices, which will be further developed in the years to come with the goal of increasing resource protection and maximising reuse. One example comes from biomethane production plants. The experience acquired from the Sant'Agata Bolognese (BO) plant - which transforms the organic portion of sorted waste into compost and biomethane which fuels buses, taxis and private vehicles - will lead new projects to be introduced in areas served by the Group, supporting the model of a circular economy. In particular, over the period covered by the Plan, the Voltana anaerobic digester, located in the area surrounding Ravenna, will also be partially reconverted to produce biomethane. Within 2023 the Hera Group furthermore expects an additional rise in sorted waste in the areas served, up from the 62.5% seen in 2018 to 75% in 2023. The Group's objective is to improve its quality as well, thanks to numerous campaigns designed to raise awareness and initiatives meant to get citizens involved. The circular model, indeed, in addition to the appropriate type of plants, also requires coherent individual and collective behaviour. A larger and better amount of sorted waste leads to further circular business opportunities. One example can be seen in the partnership between Hera and Eni intended to produce biofuel from waste oil brought by citizens, which is expected to be extended to other areas served by the Group, outside Emilia-Romagna, where the pilot project took place. 2020-01-09 Further informations Business plan to 2023 In light of the positive preliminary results for 2019, showing higher growth than expected in the previous Plan, and the M&A transactions carried out, the Group has presented its new five-year strategic document. This reflects its commitment towards further industrial development, sustained by investments, innovation and an eye to sustainability. Hera has confirmed its role as a "local multi-utility", capable of creating value for the areas in which it operates and for all stakeholders /-/hera-group-approves-business-plan-to-2023-1?inheritRedirect=true http://investornews.gruppohera.it/en/?n=179 /group_eng/investor-relations/hera-strategy/ Press release Newsletter: business plan to 2023 Strategy and Business Plan centrata Read more bp_2023_110x150.1578647530.png

GH-ASCOPIAVE_110 The Hera Group and Ascopiave S.p.a. have finalised the transaction that formalises, as of today, the birth of the largest operator in the energy sector in North-Eastern Italy, with over one million customers, while at the same time redefining gas distribution between the two partners. Today's closing, which follows up on the framework agreement signed on 30 July and the subsequent approvals granted by the appropriate authorities and bodies, involves an exchange of assets having an equal value between the Hera Group and Ascopiave, in energy sales on the one hand, and gas distribution on the other. The economic aspects of the transaction did not change with respect to what had been made public previously, except for adjustments in the closing date included in last July's framework agreement, and settlements defined for governance and management options for Ascopiave's shareholdings in EstEnergy and Hera Comm. This transaction is an important step along the evolution of the Hera Group and Ascopiave's business portfolios, and fully respects the orientations in development approved by their respective Boards of Directors. The Hera Group, indeed, will achieve the goal set out in its Business plan to 2022 in advance, reaching roughly 3.3 million customers in energy sales. Ascopiave, instead, will implement its own strategic repositioning plan, through a sales agreement with a leading figure and a consolidation of its own position in the core business of gas distribution. As regards energy sales, EstEnergy will manage commercial activities in the Veneto, Friuli-Venezia Giulia and Lombardy regions, with over one million customers (including roughly 795,000 gas contracts and roughly 265,000 electricity contracts). More specifically, the new company, whose value before the transaction came to 191.7 million euro, now includes the sales companies of the Ascopiave Group (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. and Etra Energia S.r.l.) and a shareholding in Sinergie Italiane S.r.l., for an overall value of 474.2 million euro, as well as those of the Hera Group (Hera Comm Nord-Est S.r.l), whose value comes to 159.0 million euro. The Hera Group holds 52% of the share capital of the new EstEnergy, while 48% is held by Ascopiave (which purchased this amount for a price of 395.9 million euro, based on the total equity value of EstEnergy, equivalent to 824.9 million euro). The Board of Directors is made up of 5 members, 3 appointed by Hera and 2 by Ascopiave, in line with the Shareholders Agreement signed today. The members, appointed today, are, for the Hera Group: Stefano Venier, CEO of the Hera Group; Cristian Fabbri, Group Market Manager and CEO of Hera Comm, who will also act as CEO of the new EstEnergy; Isabella Malagoli, Director of Sales and Marketing at Hera Comm. Ascopiave's members are: Giovanni Zoppas, CEO of Thelios, who will also act as Chairman, and Nicola Cecconato, Chairman and CEO of Ascopiave Group. As regards the reorganisation of gas distribution, Ascopiave purchased from the Hera Group, for a price set at 168 million euro, an area of concessions comprising roughly 188,000 users in the Veneto and Friuli-Venezia Giulia regions, which as of 31 December 2019 will come together in the newly created company named AP Reti Gas Nord-Est. Thanks to this transaction, the Ascopiave Group will manage roughly 775,000 users and a network with a total length of over 12,000 Km, thus consolidating its position in the national ranking. Lastly, as indicated in the agreement signed in late July, 3% of the share capital of Hera Comm was purchased by Ascopiave today, for a price of 54 million euro. Furthermore, Chairman and CEO Nicola Cecconato was appointed in the company's Board of Directors. Furthermore, as part of the overall redefinition of energy sales activities, Hera Comm directly acquired 100% of the share capital of Amgas Blu, a company entirely held by Ascopiave, which operates in the province of Foggia and has roughly 50,000 customers, for a price of 42.5 million euro. GH-ASCOPIAVE_870 20191219_closing_Gruppo_Hera_e_Ascopiave_eng_final.1576776341.pdf 2019-12-19 hera_ascopiave_870.1576776340.jpg The transaction between the two companies, finalised today, marks the birth, through EstEnergy, of the largest energy operator in North-Eastern Italy, whose BoD was also appointed. Ascopiave acquires new assets in gas distribution, reinforcing its position in the sector and reaching 775,000 users served. The Hera Group now has roughly 3.3 million energy customers overall Read more GH-ASCOPIAVE_110

FIRE_prize_110 The Hera Group has been recognized among the Italian companies most capable of promoting the rational use of energy. This was decided by the highest national body in the sector: the FIRE (Italian Federation for the Rational Use of Energy), which for the past three years has established the FIRE - Energy Manager Award. The Hera Group has now participated for the first time and immediately took the podium, thus obtaining an important recognition, on an equal footing with two other Italian companies, active in the civil and tertiary sectors. The award ceremony took place on 11th December 2019 in Milan, during the Enermanagement XII, a conference dedicated to energy management, resource management and the core business, at the end of a round table in which Hera Group experts also participated. The award assigned to the Hera Group is of great value, as it recognizes the attention and commitment that the company has always placed in the efficient use of energy in all its activities, starting with the overall goal of reducing its own energy consumption of 5% by 2020, with a saving of over 8 million euro compared to 2013 energy expenditure. FIRE_prize_870 20191212_FIRE_prize_press_release.1576150016.pdf 2019-12-12 Further informations 374AD479_008F_4660_8E5F_7F9B04C4C001.1576150015.jpeg The multi-utility received the FIRE - Energy Manager 2019 award, one of the most coveted awards in the sector at national level. The prize was awarded based on the activities carried out internally within the company to promote the rational use of energy /group_eng/sustainability/thematic-reports/value-to-energy Examine the report "Value to energy" Read more FIRE_prize_110

Hera is still on the podium for web communication Also this year the Hera Group is on the podium of online communication. In the Webranking 2019 edition, in fact, the multi-utility won the bronze medal. The study, published today in Corriere Economia, is conducted by Lundquist and the Swedish Comprend, the two expert digital communication companies that annually examine the corporate sites of the major Italian companies listed on the stock exchange, evaluating their communication strategies on the web in a national ranking. This year, the analysis includes 112 companies. In the 18th edition of the report, Hera ranked 3rd with a score of 90/ 100, ahead of large companies such as Generali, Mondadori, Telecom Italia TIM and ERG. In first position Eni was classified with a score of 93.2 while the third step of the podium is occupied by Snam with a score of 91.3. Hera Group is the best company in the Utilities sector. All results are available at this link. The third position on the podium is the detailed view of the company and its activities provided to the users of the institutional website. In particular, the multiutility proves to be close to the needs of various targets: Press and Careers sections, in fact, are particularly effective in communicating with the relevant public. Furthermore, the completeness of the sections dedicated to sustainability was much appreciated. Not only. The Hera Group's communication also distinguished itself in the first edition of the ".Trust" dossier by Lundquist, which placed the multi-utility in the "Bronze Class" and, in particular, in the parameter of measurement named "Substance", in which the narration is supported by a unified vision of the company mission and by concrete examples of the commitment to this mission. In order to respond to the continuous input and to the new needs of users, in fact, a constant commitment to transparency and renewal of content is needed. This important result is only possible thanks to an incessant and careful team work aimed at excellence and response and dialogue with its stakeholders. Since 2006, the year of its first entry into the top10 of the report, the Group has confirmed itself on the podium for 9 years. Hera Group stands out in the detailed view of the company and its activities and for the completeness of the sections dedicated to sustainability. Webranking 2019-2020 Italy listed Key information on webranking's survey Read the article from Corriere della Sera Download Whitepaper Italy listed 2019 2018-11-12 Further informations header_webranking.1575297694-2.png In the Webranking 2019 report on Italian digital communication conducted by Lundquist, in collaboration with Comprend, the Hera Group wins the third position distinguishing itself by the detailed view of the company and its activities and for the completeness of the web site sections focused on sustainability https://lundquist.it/webranking/webranking-italy-listed-2019-2020/ null To see the full results null Webranking 2019: il Gruppo Hera conquista la terza posizione

Hera BoD approves 3Q 2019 results Financial highlights Revenues at 5,063.2 million euro (increased by 16.4%) Ebitda at 785.8 million (increased by 5.0%) Net result at 242.0 million (increased by 12.1%) Net debt at 2,740.7 million, with Net debt/Ebitda reduced to 2.57x Operating highlights Good contribution to growth coming from business areas, especially the gas, water and waste management sectors Positive results thanks to both internal growth and M&A Sharp increase in energy customers, now almost 2.65 million, more than triple the historical average Today, the Hera Group’s Board of Directors, chaired by Tomaso Tommasi di Vignano, unanimously approved the consolidated financial results at 30 September 2019, which shows particularly positive results and further improved the growth already seen in the previous quarters. The trends seen over the first nine months of the year, which were higher than expected, reflected the Group’s effective implementation of its Business plan to 2022, having already reached 42% of the expected 200 million euro growth in Ebitda, ahead of the projected timeline. Some strategic projects, including M&As to be concluded in the near future, will be included in the upcoming Business plan to 2023. An excellent contribution came from internal growth, both in free market activities – which saw an increase in energy customers, now almost 2.65 million, and further expansion in the area of waste treatment – and regulated ones. The M&A operations carried out during the first nine months include the integrations of ATR in gas distribution and CMV Energia e Impianti’s energy sales operations, both of which are companies operating in the Ferrara area, the acquisition of Cosea Ambiente, with the Cosea Consorzio landfill in the Tuscan-Emilian Apennine area, and Pistoia Ambiente in Tuscany. Furthermore, a definitive formalisation of the Ascopiave deal is underway, according to the timeline previously set out. In general, the results for the first nine months confirm the Group’s winning strategy, based on a business model that balances regulated and free market activities, and brings internal growth together with an eye towards M&A opportunities. Sustainability and innovation have proven to be increasingly important competitive levers underpinned higher amount of investments, focused on “circular economy model” and “resource regeneration”, with the goal of creating value for the local area and all stakeholders. Revenues increase to 5,063.2 million euro In the first nine months of 2019, revenues came to 5,063.2 million euro, increased by 16.4% over the 4,348.4 million recorded at 30 September 2018, thanks to the contribution coming from all business areas. Trading operations and higher revenues and volumes sold in gas and electricity were particularly significant. Ebitda rises to 785.8 million Consolidated Ebitda at 30 September 2019 increased from 748.6 million euro to 785.8 (increased by 5.0%). This growth mainly came from the good performance seen in the Group’s various business areas, especially the gas and water businesses. Positive results were also recorded in the waste treatment business. Operating result and pre-tax profit up thanks to factors including financial operations The operating result grew to 405.5 million euro, compared to the 376.5 seen at 30 September 2018 (increased by 7.7%), and pre-tax profit rose to 338.4 million compared to the 311.0 recorded one year earlier (increased by 8.8%). Financial income and expenses at the end of the first nine months of 2019 settled at 67.1 million euro, substantially in line with the figure seen at 30 September 2018. Net result increases to 242.0 million (increased by 12.1%) The net result at 30 September 2019 rose to 242.0 million euro (increased by 12.1%), compared to the 215.9 million seen at the same date one year earlier, while the Net profit post minorities increased to 230.8 million, compared to the 208.7 million recorded at 30 September 2018 (increased by 10.6%). These results benefitted from factors including an average tax rate that came to 28.5%, an improvement over the 30.1% seen in the same period of the previous year, thanks in particular to the Group’s commitment to investing in technological and digital transformation, along the lines of Utility 4.0. Over 343 million euro in investments and reduction in the Net debt/Ebitda ratio At 30 September 2019, the Group’s operating investments, including capital grants, amounted to 343.1 million euro, increased by 15.7% over the same date in 2018 and in line with the indications set out in the Business plan to 2022. Operating investments mainly involved interventions on plants, networks and infrastructures, furthering their development and resilience in order to better face the challenges coming from climate change. Investments also went to regulatory upgrading above all in the purification and sewerage area, in addition to gas distribution, with a large-scale gas smart meter installation. These interventions also include Hera’s increasing investments in the field of innovation: yesterday, at Paris’ European Utility Week, the most important conference in the sector, NexMeter was launched, the innovative smart gas meter 4.0 created by the Hera Group alongside leading national and international partners and provided with advanced safety functions and technology. Thanks to investments coming to 45 million euro, the first 300,000 smart meters will be installed over the next three years. At 30 September 2019, net debt came to 2,740.7 million euro, remaining basically stable, thanks to a cash flow that entirely financed the investments made, including those aimed at development, and the annual dividend payment. The change compared to the 2,585.6 million recorded at 31 December 2018 was mainly due to figurative debts booked in application of accounting standard IFRS16 and, to a lesser degree, the M&A operations carried out recently, which will contribute to growth in results in the fourth quarter as well. Financial leverage reduced, with the net debt/Ebitda ratio coming to 2.57x, compared to the 2.62x seen at 30 September 2018. Gas Ebitda for the gas business – which includes services in natural gas distribution and sales, district heating and heat management – came to 239.8 million euro at 30 September 2019, increased by 7.9% over the same period in the previous year, in terms of both revenues and volumes sold. These results were obtained thanks to a larger amount of trading activities and the market expansion in the default and last resort supply services. A very significant rise was seen in gas customer base – almost 1.5 million overall, at the end of the third quarter of 2019 – with growth coming to 52,400 (increased by 3.7%) compared to the same period in the previous year, mainly due to the consolidation of the companies Sangroserviziand CMV Servizi, new customers in the default and last resort markets and marketing initiatives. The gas area accounted for 30.5% of Group Ebitda. Water The water business – which includes aqueduct, purification and sewerage services – showed a 7.4% growth in Ebitda, which reached 200.0 million euro, compared to the 186.2 million seen in September 2018. This growth was caused above all by higher revenues for new connections and supply; the latter reflected the results of the tariffs introduced by the Authority for the period from 2016 to 2019 and bonuses for contract quality. The integrated water cycle business accounted for 25.4% of Group Ebitda. Waste management In the waste management business – which includes services in waste collection, treatment, recovery and disposal – the Hera Group further consolidated its leadership, with a set of avant-garde plants that offers solutions across the board and supporting the evolution of activities towards “circular economy model”. Important results were also reached in sorted waste, which went from 61.4% in the first nine months of 2018 to 63.4% in the same period of the current year. At 30 September 2019, Ebitda rose to 192.0 million euro, showing a 2.0% increase over the 188.2 million seen at 30 September 2018, mostly achieved in the third quarter. This positive trend – which fully offset lower revenues due to a drop in volumes treated – was sustained among other things by trends in prices for special and industrial waste treatment, the contribution coming from Aliplast and new structures such as the waste treatment plant inaugurated in Cordenons (PN) and the innovative biomethane production plant in Sant’Agata Bolognese (BO), both having progressively become fully operational. These results furthermore benefitted from the acquisitions of Cosea Ambiente, including the landfill in Gaggio Montano (BO), and Pistoia Ambiente. As regards the higher efficiency reached, moreover, also note the merger of WasteRecycling into Herambiente Servizi Industriali, which thus became Italy’s largest company involved in industrial waste management, and Aliplast, which continued to show growth through market development and the extraction of synergies through integrations. The waste management business accounted for 24.4% of Group Ebitda. Electricity Ebitda for the electricity business – which includes services in electricity generation, distribution and sales – went from 133.2 million in the first nine months of 2018 to 129.1 million at 30 September 2019. This result is even more appreciable considering the effects of the new tender for 2019-2020 safeguarded services, in which a high degree of competition led to lower prices than the previous two-year period. This factor was almost entirely offset by higher volumes sold and higher revenues, as well as the positive contribution coming from activities in electricity trading and generation. Significant growth was also seen in the number of customers, which came to 132,400, up 12.7% over the same period in 2018, thanks above all to marketing initiatives in the free market area. At 30 September 2019, customers amounted to almost 1.2 million. The electricity business accounted for 16.4% of Group Ebitda. Profit & Loss (m€) 30/09/19 Inc.% 30/09/18 Inc.% Ch. Ch. % Sales 5,063.2 4,348.4 +714.8 +16.4% Other operating revenues 366.7 7.2% 321.1 7.4% +45.6 +14.2% Raw material (2,504.9) (49.5%) (1,966.6) (45.2%) +538.3 +27.4% Services costs (1,698.4) (33.5%) (1,529.2) (35.2%) +169.2 +11.1% Other operating expenses (45.6) (0.9%) (42.9) (1.0%) +2.7 +6.3% Personnel costs (418.7) (8.3%) (410.1) (9.4%) +8.6 +2.1% Capitalisations 23.5 0.5% 28.0 0.6% (4.5) (16.1%) Ebitda 785.8 15.5% 748.6 17.2% +37.2 +5.0% Depreciation and provisions (380.3) (7.5%) (372.2) (8.6%) +8.1 +2.2% Ebit 405.5 8.0% 376.5 8.7% +29.0 +7.7% Financial inc./(exp.) (67.1) (1.3%) (65.5) (1.5%) +1.6 +2.4% Pre tax profit 338.4 6.7% 311.0 7.2% +27.4 +8.8% Tax (96.4) (1.9%) (95.1) (2.2%) +1.3 +1.4% Net profit 242.0 4.8% 215.9 5.0% +26.1 +12.1% Special items - 0.0% 4.8 0.1% (4.8) (100.0%) Net profit 242.0 4.8% 220.7 5.1% +21.3 +9.7% Attributable to: Shareholders of the Parent Company 230.8 4.6% 208.7 4.8% +22.1 +10.6% Minority shareholders 11.2 0.2% 11.9 0.3% (0.7) (6.0%) Balance Sheet (m€) 30/09/19 Inc.% 31/12/18 Inc.% Ch. Ch. % Net fixed assets 6,151.2 108.9% 5,905.1 108.7% +246.1 +4.2% Working capital 109.6 1.9% 115.4 2.1% (5.8) (5.0%) (Provisions) (610.0) (10.8%) (588.2) (10.8%) (21.8) +3.7% Net invested capital 5,650.8 100.0% 5,432.3 100.0% +218.5 +4.0% Net equity 2,910.1 51.5% 2,846.7 52.4% +63.4 +2.2% Long term net financial debt 2,846.5 50.4% 2,558.8 47.1% +287.7 +11.2% Short term net financial debt (105.8) (1.9%) 26.8 0.5% (132.6) (494.8%) Net financial debts 2,740.7 48.5% 2,585.6 47.6% +155.1 +6.0% Net invested capital 5,650.8 100.0% 5,432.3 100.0% +218.5 +4.0% Hera BoD approves 3Q 2019 results 2019-11-13 For further informations 870x320_eng.1573644991.jpg The Group closed the first nine months of the year with particularly positive results, higher than expectations, and with the third quarter showing further improvement over the previous quarters. All main operating and financial figures showed growth, as did investments, with a special focus on innovation as a lever for development /-/hera-bod-approves-3q-2019-results-1?inheritRedirect=true Press release Hera BoD approves 3Q 2019 results

Refinitiv_110 The Hera Group has confirmed its ranking as one of Italy and the world's most interesting companies for investors who look favourably on businesses committed to supporting diversity and inclusion. The outcome has been published in the 2019 edition of the "Diversity & Inclusion Index", which measures the performance of over 7,000 listed companies worldwide. In this international ranking, Hera, with a score of 75, came in third in Italy and 14th globally, further improving its position (after ranking 22nd in 2018). Furthermore, it was confirmed as the leading multi-utility worldwide in this classification. The "Diversity & Inclusion Index", conceived and carried out by the international financial information giant Refinitiv (the new name for Thomson Reuters' Financial and Risk division), analyses the performance of companies based on a range of ESG (environmental, social and governance) factors, mainly focusing on four areas: diversity, inclusion, people development and news controversy. 150 researchers participate in one of the world's largest and most accurate projects in data collection and analysis concerning companies committed towards these issues, which find significant room in the Hera Group. The multi-utility, indeed, continues to invest in developing internal and personalised career paths, an orientation that has allowed it to reach a percentage of women having roles of responsibility that in 2018 came to 32.3%, increasing over the previous year. The amount of female personnel, which grew overall, is once again higher than the national sector average (24.7%, as compared to 15.9%). Alongside this figure, one must also consider that workers with disabilities account for 4.5% of the company's employees, significantly moving in the direction of inclusion for people with special needs. Other positive effects unquestionably come from Hera's corporate welfare plan, Hextra, which supports employees and their families in many ways (the overall value of services claimed in 2018 came to 4.2 million euro). Lastly, numerous significant projects give concrete reality to managing plurality, such as scholarships, agreements with summer schools, work-life balance initiatives and arrangements for paid family leave, not only for mothers and fathers but also those who must take care of relatives or the elderly. The Hera Group's commitment to policies promoting inclusion and diversity, in any case, has a long history. It first took concrete shape in 2009, when the Charter for equal opportunity and equality on the workplace was signed. 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. With these initiatives, Hera actively contributes to the fifth of the United Nation's objectives for sustainable development (SDG), specifically dedicated to gender equality. Refinitiv_870 20190916_Hera_in_Diversity_Inclusion_Index.1568616308.pdf 2019-09-06 Read more Refinitiv_2019_D_and_I_Top_100_Logo_870.1567771660.png In 2019 as well, the Hera Group reached outstanding results, further improving its raking compared to 2018, confirming itself as the world's leading multi-utility /group_eng/working-at-hera-group/why-work-at-hera/diversity-inclusion Visit the Diversity & Inclusion area on the website Refinitiv_110