News

Save the Children With HeraSolidale, the project with which we promote the support of voluntary associations active in the territories in which we operate, we concretely contribute to the activities that Save the Children carries out in the three nurseries set up in a refugee camp in Jordan. With 25,000 euros we obtained the distribution of healthy snacks for 200 children for a year. Now we want to achieve the second goal: with an additional 50,000 euros we always guarantee the support of two asylum teachers for a year and we give children 2,000 school kits and books. There is still time to support the project! 2019-08-19 CH18291_800x.1564755264.jpg Thanks to the donations of workers, company and customers, the non-profit organization managed to distribute healthy snacks for 200 children for a year. Save the Children

HA-PTA_110 Herambiente, a Hera Group company and Italian leader in waste treatment, has acquired Pistoia Ambiente, which manages the Serravalle Pistoiese landfill and the associated liquid waste treatment plant. This transaction, which follows up on others brought to a conclusion in previous years (from Waste Recycling and Teseco in Tuscany, to Geo Nova and Aliplast in Treviso), is part of Herambiente's path of growth in the sector of industrial waste treatment and environmental services for businesses. More specifically, Herambiente has further consolidated its own set of plants dedicated to companies, which is unique nationwide, having over 15 poly-functional sites active in treating industrial waste. The Serravalle landfill and the liquid treatment plant will mainly treat waste coming from industrial contexts, guaranteeing new opportunities for marketing and technical synergies with other the plants and services managed by the Group, furthermore allowing Herambiente to become the reference operator in the waste sector in Tuscany as well. The strategic priority pursued by Herambiente, which can rely on the roughly ninety plants it owns, all certified and at the forefront in bringing together efficiency, competitiveness in costs and sustainability, is to provide companies with waste treatment solutions that follow the principles of a circular economy. The technology currently used in rounding off the circle of waste treatment still requires final waste disposal sites such as landfills, able to safely deal with non-recoverable waste coming from treatment plants. The acquisition of Pistoia Ambiente is therefore in line with this strategic orientation and will guarantee positive results in this area. HA-PTA_870 20190730_100_of_Pistoia_Ambiente_goes_to_Herambiente.1564502990.pdf 2019-07-30 HA_PTA_870.1564502906.png The Hera Group extends the scope of its activities in Tuscany and consolidates its leadership in environmental services for businesses by acquiring the Serravalle Pistoiese landfill and the associated liquid waste treatment plant Read more HA-PTA_110

GH-Ascopiave_110 Today, the Boards of Directors of Hera S.p.A. and Ascopiave S.p.A., the latter based on the favourable opinion of its committee of independent administrators, following the binding agreement signed this last June 17th and in full compliance with the timescales indicated therein, resolved to sign the framework agreement that will launch this commercial partnership through the joint venture EstEnergy aimed at developing an energy sector leader in the North-East with over one million customers, while at the same time restructuring the two partners' respective gas distribution activities. As already announced on June 17th, on the occasion of the signing of the binding term sheet, the operation involves exchanging assets of equal value between Hera and Ascopiave, considered strategic for the development of the two companies in the fields of both energy sales and gas distribution, in keeping with the strategic objectives of the two groups. On the commercial energy front, a single operator will be created to handle the respective commercial activities in the regions of Veneto, Friuli Venezia Giulia and Lombardy, through EstEnergy S.p.a., already jointly controlled by Ascopiave S.p.a. and Hera Comm S.r.l., which will thus hold approximately 795,000 gas contracts and approximately 265,000 electrical contracts, bringing it over the threshold of one million contracts. EstEnergy, when fully operational, will have a consolidated EBITDA of approximately € 69 million - on a 2018 basis and excluding the participation of companies held with minority interests. 52% of EstEnergy's share capital will be held by the Hera Group and 48% by Ascopiave. In addition, on the closing date Ascopiave will acquire a 3% stake in the capital of Hera Comm, acquiring the right to appoint a member of the Board of Directors; while Hera Comm will directly acquire 100% of the capital of Amgas Blu, a company operating in the province of Foggia. The reorganisation of gas distribution activities, on the other hand, will involve Ascopiave purchasing from the Hera Group a series of concessions covering 188,000 users in Veneto and Friuli Venezia Giulia. As a result of this operation, the Ascopiave Group will directly manage approximately 775,000 users and over 12,000 km of network. GH-Ascopiave_870 20190730_comunicato_GruppoHera_Ascopiave_ENG.1564515789.pdf 2019-07-30 GH_ASCOPIAVE_870.1560775014.1564513165.jpg GH_ASCOPIAVE_110.1560775016.1564513167.jpg

1H_2019_110 Financial highlights Revenues at 3,371.6 million euro (+13.6%) Ebitda at 545.9 million (+4.3%) Net profit at 173.9 million euro (+7.1%) Net debt at 2,685.2 million euro Operating highlights Excellent contribution from all business areas Growth mainly internal, generally in free market activities Further increase in energy customers, now above 2.6 million Today, the Hera Group’s Board of Directors, chaired by Tomaso Tommasi di Vignano, unanimously approved the consolidated economic results at 30 June 2019, which confirm the multi-utility’s positive trend, with indicators rising in all business areas: gas, water cycle, waste management and electricity. An excellent contribution came from internal growth, both in free market activities – which benefitted from an increase in energy customers, now 2.6 million, and from further expansion in waste treatment – and in regulated activities, above all the water sector. The first six months saw acquisitions including the company ATR in gas distribution and CMV Energia e Impianti’s energy sales activities, both operating in the Ferrara area and both acquired in March, as well as Cosea Ambiente, acquired in May with the concession of the Cosea Consorzio landfill, located in the Tuscan-Emilian Apennine area, assigned as of the second half of 2019. The effects of additional M&A transactions are expected to arrive in the second half of the year, along with constantly increasing waste treatment capacity, thanks to the new waste treatment plants coming from Pistoia Ambiente in Tuscany and Cordenons in Friuli-Venezia Giulia. Furthermore, work on formalising the definitive agreement with Ascopiave is ongoing, as set out in the binding Term Sheet signed on 17 June and respecting its timeline. Overall, the half-year results confirm the Group’s winning strategy, based on a business model that balances regulated and free-market activities, and brings internal growth together with attention towards the opportunities in external growth offered by the market. Revenues increase to almost 3.4 billion euro In the first half of 2019, revenues came to 3,371.6 million euro, up 404.9 million (+13.6%) over the 2,966.7 million seen in the same period of 2018. This result was reached above all thanks to growth in revenues for trading and higher revenues and higher volumes in gas and electricity sales. The remaining growth was due to higher revenues in electricity generation and waste treatment. Ebitda rises to 545.9 million euro Ebitda settled at 545.9 million euro, increasing by 22.3 million (+4.3%) over the 523.6 million recorded at 30 June 2018. This result is particularly remarkable considering the 22 million euro drop in Ebitda coming from last resort markets, and the growth ensued from the good performances in all Group activities, in particular the water cycle and gas. Positive results also came from the electricity, waste management and other services areas, including public lighting. Operating result and pre-tax profits show growth Operating profits increased to 288.9 million euro, up 15.3 million (+5.6%) over the 273.6 million seen one year earlier. Financial operations came to 44.9 million euro, owing to lower non-recurring income and lower profits from affiliated companies and joint ventures, as well as the application of international accounting standard IFRS16 on operating leases. Pre-tax profit grew by 9.6 million (+4.1%), going from 234.4 million euro in the first half of 2018 to 244.0 million euro at 30 June 2019. Net result rises to 173.9 million euro (+7.1%) The net profit at 30 June 2019 rose to 173.9 million, with growth coming to 11.5 million (+7.1%) over the 162.4 million recorded at the same date one year earlier, without the non-recurring effects coming from the transfer of Medea to Italgas in April 2018. This result is due to factors including a further improvement in the tax rate, which went from 30.1% to 28.7%, thanks to the Group’s continuous commitment towards investing in assets moving towards technological and digital transformation and utility 4.0, which benefitted from “super and iper” amortisations, alongside additional incentives and tax credits. Profits pertaining to Group shareholders amounted to 166.2 million euro, with an 8.1 million (+5.1%) increase over the 158.1 million recorded in the first half of 2018. Almost 215 million in investments, and financial position stable In the first six months of 2019, the Group’s operating investments, including capital grants, amounted to 214.6 million euro, up 30.8 million (+16.8%) over the 183.8 million seen in June 2018, and mainly went to interventions on plants, networks and infrastructures, in addition to regulatory upgrading above all in gas distribution, with an intensive meter substitution, and the purification and sewerage areas. The Group’s financial solidity is confirmed by the net debt/Ebitda ratio, which in the first half of 2019 settled at 2.55x, improving compared to both the 2.62x seen at 30 June 2018 and the 2.74x recorded at the same date in 2017. Further confirmation comes from the Roe and Roi indicators, which respectively came to 10.2% and 9.5%. Net debt remained stable, thanks to a cash generation that entirely financed investments and the yearly dividend payment. Net debt closed at 2,685.2 million at 30 June 2019, up 100 million compared to the 2,585.6 million recorded at 31 December 2018, exclusively due to the new accounting standard IFRS16 on leasing contracts. Statement by Executive ChairmanTomaso Tommasi di Vignano “These half-year results confirm the Hera Group’s trend of uninterrupted growth and fully respect its track record, thanks to organic growth and the numerous projects implemented in internal and external development. The increase in Ebitda, the profits gained and the attentive management of financial operations allowed the Group to fully cover both investments and annual dividend payments to our Shareholders, which rose to 10 cents per share (+5.3%). The further increase in waste treatment plants managed and the joint venture with Ascopiave in the energy sector, currently being formalised, will allow us to implement plans for growth as early as the second half of 2019 on the one hand, and on the other to expand in the Triveneto area, strategically important for a further development of the Group’s activities, already ensuring at present, after only 18 months, 60% of the growth in Ebitda foreseen within 2022 by the Business plan.” Statement by CEO Stefano Venier “The results for the first half of 2019 confirm the solid financial management that has allowed the Group to maintain stability in both debt and the net debt/Ebitda ratio, which now comes to 2.55x, providing evidence of its high financial flexibility. The debt profile has also improved, thanks to the placement, on 26 June, of our second green bond, amounting to 500 million euro, intended for projects in environmental sustainability. This has allowed us to grasp available M&A opportunities and confirm our leadership through further consolidation in the markets, still fragmentary, in which all of our businesses operate. One factor that cannot be overlooked, in continuing to pursue our strategy of growth, is the attention given to sustainability, which for us is a true business lever, and the principles underlying a circular economy, in order to continue creating shared value for all our stakeholders.” The manager responsible for drafting the company’s accounting statements, Luca Moroni, declares, pursuant to article 154-bis paragraph 2 of the TUF, that the information contained in the present press release corresponds to the documentation available and to the account books and entries. The half-year financial report and related materials will be made available to the public pursuant to the terms established by law at Company Headquarters, on the website www.gruppohera.it and on the authorised storage platform 1Info (www.1info.it ). Unaudited extracts from the Abbreviated Consolidated Half-Year Financial Statements at 30 June 2019 are attached. Profit & Loss (m€) 30/06/2019 Inc.% 30/06/2018 Inc.% Ch. Ch. % Sales 3.371,60 2.966,70 404,9 13,60% Other operating revenues 249 7,40% 209,8 7,10% 39,2 18,70% Raw material -1.699,20 -50,40% -1.327,60 -44,70% 371,6 28,00% Services costs -1.075,10 -31,90% -1.031,60 -34,80% 43,5 4,20% Other operating expenses -29,8 -0,90% -30,3 -1,00% -0,5 -1,70% Personnel costs -286,6 -8,50% -281,7 -9,50% 4,9 1,70% Capitalisations 16 0,50% 18,3 0,60% -2,3 -12,60% Ebitda 545,9 16,20% 523,6 17,60% 22,3 4,30% Depreciation and provisions -257 -7,60% -250 -8,40% 7 2,80% Ebit 288,9 8,60% 273,6 9,20% 15,3 5,60% Financial inc./(exp.) -44,9 -1,30% -39,2 -1,30% 5,7 14,50% Pre tax profit 244 7,20% 234,4 7,90% 9,6 4,10% Tax -70,1 -2,10% -72 -2,40% -1,9 -2,60% Net profit 173,9 5,20% 162,4 5,50% 11,5 7,10% Special items - 0,00% 4,8 0,20% -4,8 -100,00% Net profit 173,9 5,20% 167,2 5,60% 6,7 4,00% Attributable to: Shareholders of the Parent Company 166,2 4,90% 158,1 5,30% 8,1 5,10% Minority shareholders 7,7 0,20% 9,1 0,30% -1,4 -15,40% Balance Sheet (m€) 30/06/2019 Inc.% 31/12/2018 Inc.% Ch. Ch. % Net fixed assets 6.064,10 109,80% 5.905,10 108,70% 159 2,70% Working capital 59,8 1,10% 115,4 2,10% -55,6 -48,20% (Provisions) -599,9 -10,90% -588,2 -10,80% -11,7 2,00% Net invested capital 5.524,00 100,00% 5.432,30 100,00% 91,7 1,70% Net equity 2.838,80 51,40% 2.846,70 52,40% -7,9 -0,30% Long term net financial debt 2.754,30 49,90% 2.558,80 47,10% 195,5 7,60% Short term net financial debt -69,1 -1,30% 26,8 0,50% -95,9 -357,80% Net financial debts 2.685,20 48,60% 2.585,60 47,60% 99,6 3,90% Net invested capital 5.524,00 100,00% 5.432,3 100,00% 91,7 1,70% H1 2019 2019-07-30 Read more be_870x320_slide_eng.1564478551.png A highly positive half-year, thanks to the organic growth achieved in all business areas. At the same time, intense activity in external development and an increase in the Group's set of plants will support further expansion as early as the second half-year, leading the targets included in the Business plan to be reached ahead of time /-/hera-bod-approves-results-for-1h-2019-1 Press release 1H_2019_110

Piazzale_Kennedy_110 Piazzale Kennedy is now open to the public, the heart of the Piano di Salvaguardia della Balneazione (PSBO), created by Hera and the Municipality of Rimini together with Romagna Acque and Amir, one of the main hydraulic works of recent years in Italy, thanks to total investments for over 150 million euros, and reported by the UN for its importance in safeguarding marine environments. After months of incessant work on the building site, under the Construction Management of the Hera Group, the area was in fact returned to the city and the first of the two viewpoints was completed. The high lookout (the so-called "torrino") is still not accessible, although partially completed, which will remain fenced for safety reasons until the end of the summer period, also thanks to panels that show the citizens the most important phases of the intervention. Let us remember that Piazzale Kennedy is a project of great importance, not only from a plant engineering point of view, which the city of Rimini has undertaken. It is in fact the result of an important work of coherence between hydraulic works and urban planning and redevelopment guidelines. A synthesis of planning and architectural and landscape integration of the plant system in the city system. Piazzale Kennedy is one of the most important construction sites of the PSBO both in terms of impact and complexity: started in 2016, the shipyard sees today completed about 90% of the works. At the end of the summer season the works will resume in the remaining part of the area to reach the final phase of the redevelopment, the most visible and spectacular, with the opening of the lookout above the new hydraulic garrison. The underground part The new hydraulic facility provides an important accumulation infrastructure characterized by a total volume of almost 40,000 cubic meters, consisting of a first tank of 14,000 cubic meters of volume, which collects the first rainwater, and a second tank of 25,000 cubic meters with lamination and accumulation function. The first tank came into operation in mid-June, for the benefit of bathing in the Marina Centro area of Rimini. At the end of September, after the summer break, instead the works of the second larger tank will resume, which aims to limit, through a process of rolling the flood, the mixed flows that will eventually be conveyed to the sea. This tank is preparatory to the subsequent outflow lifting, with a pumping capacity of 18,000 liters per second, or to return to treatment at the Santa Giustina purifier. The large pool will come into operation once the sea pipelines have been completed, whose forecast for completion is scheduled for next autumn. In addition to the creation of new storage volumes and related lifting systems, particular attention was paid to the containment of odors. The project, in fact, provides a system based on forced ventilation that will convey the air drawn in from the tanks (both the first rain and the rolling one) to a treatment system that uses a specific activated carbon technology. Furthermore, the importance of the project must also be highlighted from the point of view of hydraulic protection: thanks to the work put in place it will in fact be possible to prevent flooding phenomena such as those already caused in the past by exceptional weather events. Finally, thanks to appropriate screening and storage treatments of the materials deriving from the excavations fielded by Hera, it was possible to recover over 20 thousand cubic meters of excellent quality sand, already used for the nourishment of the Rimini coasts. The operation is fully part of the initiatives aimed at protecting our beaches, because it helps to combat soil erosion, and as a good practice in a circular economy perspective. 20190713_PSBO_open_to_the_public_Piazzale_Kennedy.1564144575.pdf 2019-07-26 piazzale_kennedy_800_1.1563181364.jpg The viewpoint above the construction site, the heart of the Bathing Safeguard Plan, is now fully accessible Read more Piazzale_Kennedy_110

Pozzi_110 In Ethiopia, access to drinking water sources is extremely problematic. It is estimated that, on average, only 27% of the population has access to clean water. From all this derive diseases related to intestinal infections that tend to affect the weakest categories such as children, the elderly and women. This project is part of ongoing programs aimed at improving access to water supply for rural populations in the eastern area of the Tigray and Afar, regions in the extreme north of Ethiopia that live in a serious state of economic and social crisis. Here agriculture plays a predominant role employing 90% of the population. During 2018, for the Hera Solidarity project, thanks to the involvement and collaboration of workers, company and customers, we raised 145 thousand euros, of which 15 thousand for Butterfly Onlus. With this important amount, 3 wells were rehabilitated and then inaugurated. But let's not stop there: the goal for the year 2019 is to collect a useful amount to inaugurate another 4 wells, of which another 4,300 people will benefit. 2019-07-29 butterfly_foto1_800.1562838805.jpg Thanks to the donations of workers, company and customers, Butterfly Onlus has inaugurated three wells in Ethiopia that allow over 3 thousand people to drink clean water Pozzi_110

10anni_HA_110 It was July 1st 2009, when Herambiente was born, which takes the expertise and the rich endowment of Hera Group plants into a new reality that is better able to capture the prospects for development in the sector, characterized by a high fragmentation of operators and by a plant infrastructure insufficient to meet the needs of the country. The roots of the company therefore lie in almost 100 years of history, or in the DNA of those municipalities in Emilia Romagna to which the Municipalities entrusted, in the first half of the 1900s, the management of waste and then, over the years, the construction of the plants of urban waste disposal. Exact ten years of constant growth starting from Emilia-Romagna 2013: four years after its birth, Herambiente starts its expansion in the territories of Padua and Trieste with the acquisition of AcegasAps by the Hera Group, thus acquiring the Padua and Trieste waste-to-energy plants and the Padua storage plant. 2014: territorial expansion continues in northern Italy with the acquisition of the Ecoenergy Srl plant in Castiglione delle Stiviere (MN). Here non-hazardous special waste is transformed into CSS, a secondary solid fuel that feeds thermoelectric, cement and waste-to-energy plants, avoiding the use of fossil fuels. This confirms the company's position as a leader in the recovery of materials and energy from waste, completing the value chain downstream of the usual treatment process. 2016: Herambiente completes the acquisition of some environmental business branches of Geo Nova, which has twenty years of experience in the treatment, recovery, disposal of urban and industrial waste, in particular by detecting the storage plant for hazardous and non-hazardous waste at San Vito al Tagliamento (PN) and the active landfills for non-hazardous waste of Loria (TV) and Sommacampagna (VR). Thanks to this operation, the Group further expands its corporate perimeter in the North East following the logic of developing and strengthening sales in areas where it was already active and thus extending its plant park with a more complete offer for Veneto customers and of Friuli Venezia Giulia. 2017: the acquisition process of Aliplast begins, a leading national company in the collection and recycling of industrial plastic waste and in the recycling and production of regenerated polymers, a decision that testifies to Herambiente's desire to combine its business with the values of the circular economy, with a view to environmental sustainability. With this operation, the corporate scope also extends abroad because Aliplast has offices in Italy, Spain, France and Poland; Waste Recycling acquires Teseco, a leading company in the treatment and recovery of industrial waste, with more than 30 years of experience in the sector of special waste and innovative plants. 1 July 2019: in conjunction with the tenth anniversary, Waste Recycling is incorporated by merger and Herambiente becomes the international leader in the industrial waste sector, with 1 million tons managed per year, able to offer an increasingly complete and personalized service based on the needs of individual customers, be they small or medium and large companies. Circular economy and sustainability at the center of the choices As a company specializing in the treatment of urban waste, Herambiente in these 10 years has therefore gradually integrated industrial waste into its business, creating, in 2014, a dedicated company, Herambiente Servizi Industriali. With the subsequent acquisition of Aliplast it then moved towards the production of regenerated plastic. Along this path, by providing innovative services and technologies, the Group was able to make waste a resource, creating a circular economy for the benefit of the communities but also of national and foreign companies of which it is a partner. Together with customers, in fact, high-value services are developed to improve and streamline business processes and impacts, always combining attention to economic resources and sustainability. The increase in the customer portfolio from 370 in 2009 to 3,000 in 2019 is the acknowledgment to Herambiente of being a serious and reliable partner. A result achieved also thanks to the strong investment in the professional development of its resources, which went from 738 to 1,415 in 10 years, through a constant search for innovation and enriching the technical skills of employees. A gift to Ageop for Herambiente's birthday For ten years at the service of companies and territory, Herambiente has decided to celebrate this birthday by donating to the Associazione Genitori Ematologia Oncologia Pediatrica - AGEOP of Bologna a van equipped for the transport of children and their families from the AGEOP Houses to the hospital Sant ' Orsola Malpighi of Bologna. The association has been welcoming and assisting cancer children and their families for thirty-five years to improve their living conditions. The AGEOP facilities, where small patients and parents are welcomed for free all the time of the therapies, make it possible to realize the synergy with the Pediatric Oncology Department of the Policlinico Sant’Orsola Malpighi allowing to resort to the so-called "protected resignations". This means that children can be discharged as soon as possible, continuing therapies "at home" and therefore with a significant improvement in their quality of life. When the children are not from Bologna, the AGEOP structures become "their home" and the high standards of hygiene and health with which they are conceived make them a safe and welcoming haven in which to face the therapeutic period without ever being left alone in front of the illness . consegna_chiavi_veicolo 20190702_Herambiente_sets_solidarity_in_motion.1564143740.pdf 2019-07-26 The Hera Group company celebrates its birthday by donating a van equipped for transporting children and their families to the Sant'Orsola Malpighi hospital at the AGEOP of Bologna sinistra Read more 10anni_HA_110

Hasi-WR_110 As of 1 July, Waste Recycling, a subsidiary of Herambiente, is founded through a merger with Herambiente Servizi Industriali (Hasi), which then becomes the largest Italian company dedicated to the management of industrial waste, with registered office in Bologna and three commercial locations in Ravenna, Padua and Pisa. Hasi targets one million tonnes treated per year The objective of the merger is to simplify and further rationalise the overall structure of the company and make corporate coordination activities easier in order to achieve economies of scale with a general improvement in operating efficiency. The entry to Hasi of the three Tuscan multifunctional sites of Waste Recycling (two in Castelfranco di Sotto and one in Pisa, the former Teseco) will also enable an increase in the range of customers, allowing Hasi to transfer more types of waste to the same platform. In Italy, waste from production activities accounts for 80% of all waste produced. With respect to urban waste, industrial waste requires highly professional management systems and cutting edge treatment plants. Thanks to this merger, the volumes treated by Hasi have doubled, up from 550,000 to one million tonnes per year, mainly coming from the chemical-pharmaceutical, petrochemical, iron and steel sectors, and also the manufacturing and food sectors. The same goes for customers, which rose from 1,500 to 3,000, small and medium enterprises and also 250 large customers. The number of employees in the new company Hasi rose from around 40 initially to 200, while turnover reached Euro 140 million per year, compared to Euro 50 million previously. Serving companies Hasi was created in 2014 from an offshoot of Herambiente, the Hera Group company which is a national leader in waste management, with more than 6 million tonnes per year (including urban and special, hazardous and non-hazardous, originating from urban collection and industrial and productive activities). Thanks to the availability of roughly 90 certified Herambiente plants and a network of qualified suppliers throughout the country, Hasi is the Group company that offers services to companies that range from micro collection for small commercial activities to treatment and disposal of all types of waste for SMEs and large industrial groups. With a view to reducing costs and enhancing the circular economy performance of business customers, Hasi's offer has evolved over time, augmenting waste treatment and transport with a comprehensive series of related higher value services: the so-called Global Waste Management, customised solutions to support customers at each phase of management of their waste,always with a focus on recycling and recovery, as also indicated in the EU directives. The companies supported by Hasi with Global Waste Management services actually reach recovery shares of roughly 80%, thanks to efficiency plans proposed to reduce waste produced and an improvement in plant performances. In addition, the synergy with other Hera Group companies allows business customers to access additional services based on the circular economy, such as energy and water efficiency plans, that sit alongside those implemented by Hera regarding waste treatment. Hasi-WR_870 20190628_Nasce_la_pi_grande_realt_italiana_dedicata_alla_gestione_di_rifiuti_industriali_DEF.1563435725.pdf 2019-07-18 hasi_wr_870.1561725495.1563435724.jpg As of 1 July 2019, the Tuscan company Waste Recycling, with its three multifunctional areas in the province of Pisa, joins Herambiente Servizi Industriali (Hasi). Hence, the range of solutions for industrial waste treatment will be expanded. A million tonnes of waste that will be treated annually Read more Hasi-WR_110

sede_berti_110 The Hera Group aims to continue in its role as a reference point for sustainable finance in Italy and, five years after issuing the country's first "green" bond, it is now launching its second. The bond is being announced at the end of a road show in Europe's main financial centres, aimed at illustrating the structure of the transaction to investors and analysts, in addition to the way in which the resources will be allocated, i.e. by investing in environmental sustainability projects in the waste, water and energy sectors. Considering that it also launched Italy's first ESG-linked revolving line of credit last year, Hera is carrying on with its activity in identifying and implementing innovative instruments. The latter are indeed able to valorise the company's commitment and the results it has reached hereto in this area, along with its future investment policies, thus meeting the market's growing attention towards this sort of endeavour. The characteristics of the new green bond and the projects financed The second green bond issued by the Hera Group (Moody's rating Baa2 with stable outlook and Standard & Poor's rating BBB with positive outlook) amounts to 500 million euro overall, repayable over 8 years with a 0.875% coupon and a 1.084% return. The date of payment for the newly issued bond has been set at 5 July 2019. Furthermore, the new green bond is expected to have the same rating as the Hera Group. A strong demand, coming to seven times the amount offered, and the quality of the orders received have allowed the price to be fixed at an excellent level. The transaction has seen significant participation from international investors (France, Germany, United Kingdom and Holland), most of whom follow green and sustainable criteria. The bond is expected to be listed on the Irish Stock Exchange and the Luxembourg Stock Exchange's regulated markets, and on Borsa Italiana's ExtraMOT PRO. The funds will be used to finance or refinance numerous projects, already implemented or included in the Business plan to 2022, that pursue one or more of the goals in the UN's 2030 Agenda. These projects have been subdivided into 3 areas: energy efficiency (in line with SDGs 7 and 13): from installing smart metres to developing district heating networks and projects in the area of public lighting; circular economy and sustainable waste management (responding to SDG 12): innovative projects in the waste collection systems, further use of unit pricing, creating plants and structures for recycling, recovering and reusing materials, plants for biological/chemical waste treatment and plants for transforming waste into energy, similar to the Sant'Agata Bolognese (BO) biomethane production plant; water infrastructures (meeting SDGs 6 and 14): waste water management projects, sewerage and water infrastructures furthering resilience and adaptation to climate change. In order to guarantee that the funds are correctly and transparently allocated, Hera has introduced a monitoring and reporting process. The amount actually dedicated to each intervention will be published in the Group's Sustainability Report, along with data concerning the environmental performances reached. "Green Financing Framework": Hera transparent in sustainability as well The Hera Group, furthermore, is among the first companies in Europe to have provided itself with a "Green Financing Framework" (GFF). The GFF is a particularly innovative programming document, in line with "Green Bond Principles", that covers not only aspects linked to issuing the green bond, but also sustainable loans and other ESG instruments on the market. The GFF is accompanied by a "Second Party Opinion", drafted by ISS-oekom, which ranked Hera "Prime" in terms of ESG performance (sixth in a panel of 43 worldwide companies), in particular giving an excellent opinion of Hera's contribution to the water sector. sede_berti_870 20190626_Cs_Nuovo_green_bond_Hera_final_ENG.1561565634.pdf 2019-06-26 Read more bologna_berti_pichat_870_320.1561565805.jpg Strong interest shown by international investors for the multi-utility's second "green" bond, which will finance environmental sustainability projects in 3 areas: energy efficiency, circular economy and sustainable water resource management /group_eng/investor-relations/strategy/strategy-and-business-plan /group_eng/investors /group_eng/investor-relations/debit-and-rates/green-financing-framework-e-opinion Hera Group Business Plan Investor Relations Green Financing Framework e Second Party Opinion sede_berti_110

Hera-Ascopiave_110 Today, the Boards of Directors of Hera S.p.a. and Ascopiave S.p.a. approved the signing of a binding Term Sheet intended to develop a major entity in areas of North-East Italy, which will be able to rely on over one million energy customers, while at the same time redefining their respective activities in gas distribution. The Term Sheet, which will be finalised by a framework agreement within 31 July 2019, defines the geographical areas involved, the economic terms of the agreement and related elements of governance. The agreement reached represents an important strategic transition in the evolution of the two Groups' activity portfolios and fully respects the strategic lines of development approved by the Boards of Directors of Hera S.p.a. and Ascopiave S.p.a., as communicated to investors. More specifically, as regards the gas and electricity marketing area, the agreement calls for a single operator to be created, bringing together the respective sales operations in the Veneto, Friuli Venezia Giulia and Lombardy regions, acting through EstEnergy S.p.a., a company currently jointly controlled by Ascopiave S.p.a. and Hera Comm S.r.l., the Hera Group's sales company. EstEnergy S.p.a.'s activities in the geographical areas indicated will be considerably increased, coming to include the Ascopiave Group's sales activities carried out by the subsidiaries Ascotrade S.p.a., Ascopiave Energie S.p.a. and Blue Meta S.p.a. as well as the joint ventures Asm Set S.r.l. (49%) and Etra Energia S.r.l. (51%), in addition to the liquidating Sinergie Italiane S.r.l. (30.94%) and the company Energia Base Trieste S.r.l. (92,000 contracts managed) and Hera Comm's Veneto and Friuli customers (96,000 gas contracts and 68,000 electricity contracts). A major operator rooted in the North-East will thus emerge with a portfolio totalling over 795,000 gas contracts and 265,000 electricity contracts, based on 31 December 2018 data, which considering the joint venture pro rata component amounts to over 1 million contracts. This new entity, which will take shape through EstEnergy, when fully operational, will have a consolidated Ebitda coming to roughly 69 m€, based on 2018 data, not including the contribution coming from owned companies with minority shareholdings. 52% of EstEnergy's share capital will be held by the Hera Group, and 48% by Ascopiave. The parties involved have disclosed that the overall equity value of the new EstEnergy amounts to 864.5 m€ (with a corresponding enterprise value of 797 m€), based on 31 December 2018 data, and may be subject to standard adjustments following the closing date; of this amount, 601 m€ (543 m€ enterprise value) pertains to sales activities originating from Ascopiave and 263 m€ to activities originating from HeraComm. As regards the Hera Group, through these agreements with Ascopiave it will reach its target of 3 million energy customers (3.2, according to 31 December 2018 data) set in its business plan to 2022. This represents a further step along the path of growth in this area, that has seen the Group double its energy customer base over the last 10 years, by way of internal growth and M&As. Hera-Ascopiave_870 20190617_press_release_GruppoHera_Ascopiave.1560792483.pdf 2019-06-17 GH_ASCOPIAVE_870.1560783726.jpg The business partnership, through the joint venture EstEnergy, involves over 1 million customers, with the new entity's overall value coming to 864.5 million euro and its Ebitda amounting to 69 million euro. With this transaction, the Hera Group reaches over 3 million energy customers Read more Hera-Ascopiave_110

lundquist_future_110 For a company, attention to sustainability does not incorporate only the implementation of current and future practical actions, but also the way in which these initiatives are described, for example with stories, initiatives and poignant videos. Being sustainable has always been in the Hera Group's DNA. For this reason, the multiutility is in the top eight companies in Italy in terms of on-line communication of the theme of sustainability in the ".future" research of Lundquist, the study that takes into consideration the 100 biggest Italian companies. In the Italian panorama, around twenty companies stand out for the practical and clear way in which they address the significant themes of sustainability and the attention reserved to users of digital channels. The Hera Group is among the six "Silver class" companies, alongside major names like Generali, Tim and Terna, which combine story-telling and involvement in their on-line communication. In particular, the first section of the research conducted by Lundquist, called "Substance", evaluates the sustainability strategy and the transparency of communication. Indeed in this ".future" chapter, the Hera Group distinguished itself as an "excellent example", because it presents clear and detailed information relating to the sustainability strategy and the priority company issues, relating them to the priorities of the global agenda and business opportunities". The most recent products, in terms of communication effectiveness, include the latest Sustainability Report of the Group, in which the contents focus on the creation of shared value, i.e. the multiutility's ability to meet the needs of the local area and tackle the challenges in terms of change geared towards sustainability. Furthermore, it is worth pointing out the new report of the Hera Group "Building the future together", dedicated to the initiatives in which the local community plays an active role, by creating a long-term relationship and a significant environmental impact. lundquist_future_870 2019-07-18 Read more lundquist_future_870.1560148207.1563434959.jpg The multiutility is an excellent example of the ".future" research of Lundquist, which evaluates sustainability and transparency strategy https://lundquist.it/our-thinking/future/ /group_eng/who-we-are/hera-group-strategy/shared-value Visit Lundquist.future website Find out Hera's commitment to create shared value lundquist_future_110

lundquist_future_110 Overview Exploring the transition that the cities of the near future will have to implement to counter the effects of climate change: a transformation that involves institutions, companies, associations and, more generally, citizens. It is the main theme addressed at the conference "Re-inventing the city: smartness and resilience to face new challenges", organized by the Hera Group in Bologna, in the multi-utility headquarters. The young actress Ludovica Nasti stepped in first, performing in a reading of the touching text "I have a dream" by the writer Stefano Massini. Regeneration of resources and sustainability as a business leverage were the focus of the opening speech by the Executive Chairman of the Hera Group, Tomaso Tommasi di Vignano, who then gave the floor to the moderator of the entire afternoon, the director of Rai News 24 Antonio Di Bella. The first intermezzo was dedicated to the video with the results in terms of sustainability achieved by the Group in 2018, and collected in the Sustainability Report. "The most important contribution to urbanization, to tackle climate change, is to improve social cohesion", said during his speech the guest of honor Paul Romer, Nobel Prize 2018 for Economics and professor at NYU Stern School of Business. Then, the other speakers of the conference took turns on the stage, from the architect Stefano Boeri to the Global Ambassador of the B Corp Marcello Palazzi, from the full professor to the Ecole Polytechnique Fédérale de Lausanne and to the IUAV University of Venice, Paola Viganò, to the former mayor of Bogotà, Antanas Mockus, and the current first citizen of Bologna, Virginio Merola. The concluding remarks were made by the Chief Executive Officer of the Hera Group, Stefano Venier, who in his speech also emphasized: "In addition to the technological upgrade, the city of tomorrow will have to be based on the circular and resilient economy, able to adapt to change climate to ensure continuity of essential services for everyone's life”. Finally, the attention of those present was all for the children’s choir "Mariele Ventre" of the Antoniano of Bologna, which performed a moving cover of "Sing For The Climate", the famous song about the environment born in Belgium, in 2012, at the initiative of environmental director and activist Nic Balthazar. Reinventing the city - Regenerating resources to move to a society based on the circular economy During the event the 2018 Sustainability Report has been presented Watch the video with the results achieved in 2018 for the benefit of the served areas lundquist_future_870 2019-07-18 Read more On the occasion of the presentation of its sustainability report, an event to discuss together with so many authoritative voices of how cities will have to change to face climate change and guarantee wellbeing to future generations. Among the guests, the Nobel Prize for Economics Paul Romer https://paulromer.net/about/ https://www.stefanoboeriarchitetti.net/stefano-boeri-biografia/ https://nl.linkedin.com/in/marcellopalazzi http://www.studiopaolavigano.eu/at06/at06.html https://it.wikipedia.org/wiki/Antonio_Di_Bella https://en.wikipedia.org/wiki/Virginio_Merola https://en.wikipedia.org/wiki/Antanas_Mockus https://www.antoniano.it/91-piccolo_coro/ Paul Romer Stefano Boeri Marcello Palazzi Paola Viganò Antonio Di Bella Virginio Merola Antanas Mockus Piccolo coro dell'Antoniano di Bologna lundquist_future_110

1Q_2019_110 Financial Highlights Revenues at 1,940,4 million euro (+11,4%) Ebitda at 330,8 million euro (+2,5%) Net profit at 129,7 million euro (+3,0%) Net financial position at 2,622 million euro Operating Highlights Good contribution to growth coming from all main business, above all water cycle and gas Solid customer base in energy sectors, rising to approximately 2.6 million customers Today, the Hera Group’s Board of Directors, chaired by Tomaso Tommasi di Vignano, unanimously approved the Group’s consolidated economic results for the first quarter of 2019, which improved over the same period of the previous year, showing constant growth in all main indicators. The company’s winning multi-business strategy was thus confirmed, balanced as it is between regulated and free market activities, with high attention given to sustainability and a circular economy. The Hera Group, indeed, pursues this model through both internal and external growth, always prepared to grasp the opportunities offered by the market also thanks to the financial solidity. The Group’s path of 16 years of uninterrupted growth took a step further on 18 March 2019, when it was included in Borsa Italiana’s FTSE MIB index, which brings together the 40 companies with the highest capitalisation on the Italian stock exchange. In general, the results for the first quarter of 2019 benefited from the higher tariffs on regulated services introduced by the Authority’s updates, in addition to commercial expansion and the creation of efficiencies. Among the changes in the Group’s scope of operations compared to the first quarter of 2018, mention must go to Blu Ranton and Sangroservizi in Abruzzo, Megas Net in the Marche region and, as of March 1st 2019, the integration, in the Ferrara area, of the energy sales activities carried out by CMV Energia e Impianti and the natural gas distribution activities carried out by CMV Servizi, including the subsidiary company ATR. Furthermore, 9 May saw the formal acquisition of 100% of the shares of Cosea Ambiente, a company that manages urban and similar waste services owned by 20 municipalities in the Tuscan-Emilian Apennine. This operation also involved a ten-year concession for the Cosea Consorzio landfill in Gaggio Montano, effective as of the second quarter of 2019. Revenues reach 1.94 billion euro In the first quarter of 2019, revenues amounted to 1,940.4 million euro, rising compared to the 1,741.3 million seen in the same period of 2018. Contributions to this result came above all from growth in revenues from trading activities, power generation and waste treatment business, as well as higher revenues and higher volumes in gas and electricity sales. Ebitda rises to 330.8 million euro Ebitda went from 322.7 million euro in the first quarter of 2018 to 330.8 million at 31 March 2019, showing an 8.1 million increase (+2.5%). This growth is due to the good performances in all Group’s main areas, in particular the water cycle and gas. Improvement was also seen in the results from the waste management area and in other services, while the electricity area remained essentially stable. Operating results and pre-tax profits grow Net operating results also increased, coming to 205.0 million euro at 31 March 2019, up compared to the 197.6 million seen in the same period of 2018 (+3.7%). The change in financial operations came to 3.6 million euro, amounting to 21.1 million at the end of the first quarter, owing to lower dividends received and the application of accounting standard IFRS 16 on operating leases. Pre-tax profits grew by 2.1%, going from 180.1 million in the first quarter of 2018 to 183.9 million euro in the same period in 2019. Net profits up, settling at 129.7 million (+3.0%) Net profits for the first quarter of 2019 increased to 129.7 million euro, as compared to the 125.9 million recorded one year earlier (+3.0%). Profits pertaining to Group Shareholders, instead, came to 124.2 million euro, with a 3.1% growth over the 120.5 million seen in the same period of 2018. These results, considered alongside the improved tax rate (which came to 29.5%, compared to 30.1% in the first quarter of the previous year), are due to factors including the Group’s continuous commitment towards grasping the benefits offered by current legislation, in particular through the depreciations involved in the significant investments made in the direction of Utility 4.0. Profit & Loss (m€) 31/03/2019 Inc.% 31/03/2018 Inc.% Ch. Ch. % Sales 1,940.4 1,741.3 +199.1 +11.4% Other operating revenues 121.0 6.2% 95.3 5.5% +25.7 +27.0% Raw material (1,024.6) (52.8%) (831.4) (47.7%) +193.2 +23.2% Services costs (556.7) (28.7%) (538.5) (30.9%) +18.2 +3.4% Other operating expenses (13.1) (0.7%) (12.7) (0.7%) +0.4 +3.1% Personnel costs (142.9) (7.4%) (140.0) (8.0%) +2.9 +2.1% Capitalisations 6.7 0.3% 8.7 0.5% (2.0) (23.1%) Ebitda 330.8 17.0% 322.7 18.5% +8.1 +2.5% Depreciation and provisions (125.8) (6.5%) (125.0) (7.2%) +0.8 +0.6% Ebit 205.0 10.6% 197.6 11.3% +7.4 +3.7% Financial inc./(exp.) (21.1) (1.1%) (17.5) (1.0%) +3.6 +20.6% Pre tax profit 183.9 9.5% 180.1 10.3% +3.8 +2.1% Tax (54.2) (2.8%) (54.2) (3.1%) +0.0 +0.0% Net profit 129.7 6.7% 125.9 7.2% +3.8 +3.0% Attributable to: Shareholders of the Parent Company 124.2 6.4% 120.5 6.9% +3.7 +3.1% Minority shareholders 5.5 0.3% 5.4 0.3% +0.1 +2.3% Balance Sheet(m€) 31/03/2019 Inc.% 31/12/2018 Inc.% Ch. Ch.% Net fixed assets 6,042.1 108.5% 5,905.1 108.7% +137.0 +2.3% Working capital 118.9 2.1% 115.4 2.1% +3.5 +3.0% (Provisions) (591.8) (10.6%) (588.2) (10.8%) (3.6) +0.6% Net invested capital 5,569.2 100.0% 5,432.3 100.0% +136.9 +2.5% Net equity 2,947.2 52.9% 2,846.7 52.4% +100.5 +3.5% Long term net financial debt 2,760.4 49.6% 2,558.8 47.1% +201.6 +7.9% Short term net financial debt (138.4) (2.5%) 26.8 0.5% (165.2) (616.4%) Net financial debt 2,622.0 47.1% 2,585.6 47.6% +36.4 +1.4% Net invested capital 5,569.2 100.0% 5,432.3 100.0% +136.9 +2.5% 1Q2019 results 2019-05-15 For further informations be_870x320_slide_eng_senzafascia.1557916317 (1).png Consolidated 1Q report shows growing results and a positive contribution coming from all main business areas, in particular the water cycle and gas. Focus on sustainability and circular economy confirmed /-/hera-bod-approves-1q-2019-results?inheritRedirect=true Press release Read more be_110x150.1557916320.png

GH-Cosea_110 The Hera Group has been definitively awarded the tender for purchasing 100% of the shares of Cosea Ambiente S.p.A., a company managing urban and similar waste services owned by 20 Municipalities in the Tuscan-Emilian Apennine area (15 in the province of Bologna, already Hera Group shareholders, and 5 in the province of Pistoia). The documents involved were signed today, 9 May 2019. The tender was accompanied by a ten-year concession for the Cosea Consorzio’s Ca’ dei Ladri landfill, in the Municipality of Gaggio Montano, also covering assets and resources involved in its operation. The concession, also dated today, was stipulated between Herambiente and Cosea Consorzio. The 18 Municipalities owning Cosea Consorzio are also shareholders in Cosea Ambiente, even while holding different percentages in the two companies, with the exception of two Municipalities with no shareholding. Thanks to this acquisition, the Hera Group will be able to manage its waste management services in an increasingly synergic way across the entire Province of Bologna. These services will be integrated with the others already offered in the Apennine area (mainly water and gas), guaranteeing at the same time that the personnel currently employed is maintained. As for the Municipalities previously served by Cosea Ambiente, they will benefit from the scale economies ensuing from an advanced industrial approach in service management and fully meet the goals set by the regional law on recycling and recovery. Further benefits will also come from the multi-utility’s many infrastructures, which already guarantee a high level of environmental performance in the areas served by Hera (selection, disposal and biomethane production plants, etc.). Additionally, the Hera Group will invest in currently existing infrastructures and activities over the next few months. GH-Cosea_870 Press release Cosea acquisition 2019-05-09 Read more GH_Cosea.1557416645 (1).jpg The multi-utility has consolidated its leadership in the waste management area by acquiring the entire shareholding of the company operating in waste management, owned by 20 Municipalities in the Tuscan-Emilian Apennine area http://www.coseambientespa.it/ visit Cosea Ambiente website GH-Cosea_110

BS_online_110 The Hera Group's 2018 Sustainability Report, which can be found on-line at http://bs.gruppohera.it,contains the economic, social and environmental responsibility statistics and the focus on the commitments undertaken, the results achieved and the future prospects. This year in the Report, the representation of contents focussed on the creation of shared value was reinforced: the multiutility's ability to meet the needs of the local area and tackle the challenges in terms of change geared towards sustainability, as demonstrated by the company's decision to quantity the EBITDA deriving from activities that are in keeping with the priorities established by the UN Agenda. In addition, with the objective of improving accountability even further, new pages have been introduced this year dedicated to presenting the results for each area served. The Group's sustainability reports have also been enriched: the "Building the future together" report highlights the initiatives of engagement and collaboration between Hera, citizens and players in the local communities, in observance of target 17 of the UN Agenda. A strategic approach that has been validated: the "shared value" EBITDA increases by 14% In 2018, the Group generated a "shared value" EBITDA of Euro 375 million, up by 14% compared to the previous year and accounting for 36% of the total, a percentage expected to hit 40% by 2022. A significant commitment which stems from the awareness of how economic, social and environmental changes require companies to rethink the links between CSR (corporate social responsibility) and company strategy. Albeit corporate social responsibility has, up until now, concerned the "what" and the "how" of the company, shared value places its central focus on the "why", outlining the reason why the company exists and the salient elements that differentiate it from all other companies. In fact, the Hera Group wants to be part of the companies of the future that will be able use their business to help society regenerate the ecosystem and the environment. BS_online_870 Press release 2018 Sustainability Report 2019-07-18 Read more bs_online_870.1563434417.jpg The multiutility continues to commit to creating shared value and to responding to the current environmental and socio-economic challenges. In the report, the focus is on the results achieved, the investments and the future initiatives with new sections dedicated to the local areas served BS_online_110

Shareholders_meeting_110 The Hera Ordinary Shareholders Meeting called to approve the 2018 financial statements was held in Bologna this morning, and the 2018 sustainability report (a consolidated non-financial statement drafted pursuant to legislative decree 254/2016) was presented. 2018 financial statements approved with strong growth in results In the ordinary session, the Shareholders Meeting approved the balance sheets pertaining to 2018, which showed improvement in all main operating-financial indicators: turnover reached € 6,626.4 million, up 8% over the previous year, Ebitda exceeded one billion euro for the first time – coming to € 1,031.1 million (+4.7%) – and net profits amounted to € 296.6 million (+11.2%). Overall Group investments in 2018, including capital grants, reached € 462.6 million (+5% over 2017). Net debt settled at € 2,585.6 million, essentially stable compared to the previous year (2,523.0 million in 2017). The quality of these results was confirmed by a drop in the net debt/Ebitda ratio, which fell to 2.51x (compared to the 2.56x seen in 2017), providing further confirmation of the Group’s financial solidity, which was also reflected in the opinions released by leading rating agencies (Baa2 with stable outlook from Moody’s and BBB with positive outlook from Standard & Poor’s). The positive results for 2018, in line with the Business plan to 2022 and higher than the forecasts communicated last January, confirm the Hera Group’s ranking among Italy’s major multi-utilities and lay the foundations to grasp further opportunities for expansion in the fragmentary markets in which it operates. Shareholders meeting 2019 - Welcome speech to the shareholders by te Hera Group executive chairman Tomaso Tommasi di Vignano Increase in dividends paid, now reaching 10 cents/share The Meeting thus approved the Board of Directors’ proposal to pay a dividend of 10 cents per share, up over the amount seen in the past. The ex coupon date has been set at 24 June, with payment beginning on 26 June 2019. The dividend paid, based on the price of Hera shares at 31/12/2018, corresponds to an annual return of 3.7%. This confirms once again the Group’s strong commitment to creating value for shareholders, as is also underlined by the most recent Business plan, whose dividend policy expects further growth to occur, reaching 11 cents in 2022. The sustainability report: shared value Ebitda reaches 375.2 million The 2018 sustainability report, presented during the meeting, highlights the Group’s attention towards creating shared value, reporting information on those businesses that, in addition to creating operating margins for the company, work towards the objectives for sustainable growth contained in the UN Agenda. The areas in which Group’s commitment takes shape fall under three main drivers: a smart use of energy, an efficient use of resources, along with innovation and contribution to local development. The Hera Group’s 2018 shared value Ebitda came to 375.2 million euro (+14% over 2017), representing 36% of overall Ebitda: a result which is perfectly in line with the path set out in the Business plan, in which this indicator is projected to reach 40% by 2022. Furthermore, in 2018 the Group invested over 180 million euro (approximately 40% of the total) in initiatives and projects aimed at creating shared value. Shareholders meeting 2019 - Introduction of sustainability report 2018 by the Hera Group CEO Stefano Venier 2019-04-29 Read more Tommasi_e_Venier_870.1556621864 (2).jpg The multi-utility, included in the FTSE MIB as of 18 March 2019, improved all its main operating-financial and sustainability indicators, with results exceeding expectations and Ebitda amounting to over one billion for the first time. Commitment towards creating shared value also confirmed /-/hera-shareholders-meeting-2018-financial-statements-and-dividend-increasing-to-10-cents-approved-1?inheritRedirect=true /group_eng/corporate-governance/shareholders-meetings https://www.youtube.com/watch?v=-2rtLBrP54Q /documents/1514726/4880892/GruppoHera_Consolidated_Financial_Statements_31_12_2018.1554724349.pdf/44a36885-d73d-277e-aff2-53db3830e0b2?t=1610019133226 Press release Go to Shareholders' meeting session Watch the Executive Chairman's comments to the 2018 financial results 2018 Financial results Shareholders_meeting_110

GH-IMAB_110 The Hera Group, one of the leading Italian multi-utility companies, has reached an agreement with IMAB, a historic national furniture manufacturer, for the construction of a trigeneration plant that will supply clean energy to the Fermignano plant, in the province of Pesaro Urbino. The agreement was signed by IMAB with Hera Servizi Energia, the energy service company of reference for the industrial sector of the Hera Group, which over the years has built production plants, in cogeneration and trigeneration, for the main Italian industrial companies, employing the best technologies on the market. The new Fermignano plant will also be managed according to a logic of optimization and efficiency, with the help of a remote management and remote control system, active 24 hours a day, and emergency response. The energy efficiency intervention made possible by the new plant will guarantee primary energy savings of around 17%, with an overall efficiency, in terms of energy conversion, of 64%. When fully operational, the plant will be able to express important environmental performance, avoiding annual consumption of around 440 tons of oil equivalent and the emission of 750 tons of CO ₂ , equal to the absorption of a forest of 125 hectares. An environmental benefit comparable to around 320 diesel cars stolen from circulation. Implementation, management and maintenance of the infrastructure will be headed by Hera Servizi Energia, which will invest a total of over one million euros, within the framework of an 11-year agreement. As far as the technical aspects are concerned, the plant will have its fundamental core in a 1,000 kWe trigeneration plant which, thanks to complex mechanical and electrical connections and the installation of a cooling unit fed by hot water, will operate the thermal utilities and refrigerators of the plant. In fact, it will heat the entire body of the building and adjacent offices, as well as the summer cooling of two mechanical workshops serving the production. In short, a technological pole capable of generating electricity produced and consumed in itself, thermal energy in the form of hot water and cooling energy. With this plant, IMAB will therefore be able to improve efficiency in the use of plant energy and bring benefits to the environment, orientation in line with the historic vocation of the Hera Group, always attentive to energy efficiency issues and developing its own business, together with those of the partners, in harmony with the ambitious path traced to 2030 by the UN Agenda. GH-IMAB_870 20190415_Clean_energy_for_IMAB_thanks_to_the_agreement_with_the_Hera_Group.1563885328.pdf 2019-07-23 GH_IMAB_870.1555325884.1563885327.jpg The trigeneration plant that will be built by the multi-utility in Fermignano will increase the efficiency and sustainability of the production cycles, avoiding the emission of 750 tons of CO₂each year, the same "absorbing" power expressed by a forest of 125 hectares in the same time frame. The primary energy savings are also significant, thanks to the high-performance standards of the plant https://imab.com/en/ Visit IMAB website Read more GH-IMAB_110

Herasolidale_110 Aism - Associazione Italiana Sclerosi Multipla, Butterfly ONLUS, D.i.Re - Donne in Rete contro la violenza, Fondazione ANT Italia ONLUS e Save the Children. These are the five non-profit organizations receiving the contributions donated in 2018 by Hera employees and supplemented by the Hera Comm contribution, with the Hera Solidarity project. 145 thousand euros in total that will serve to achieve well-defined objectives proposed by the non-profit organizations themselves. The Hera Comm checks were delivered today at the Hera headquarters in Bologna in the presence of Cristian Fabbri, Hera Central Market Director and Hera Comm CEO, the Group's light and gas sales company, of Filippo Maria Bocchi, Hera Shared Value and Sustainability Director, and representatives of the five organizations. What is HeraSolidale This is a project through which Hera workers can support one of the 5 associations involved in solidarity programs, with monthly salary donations starting at 1 euro or through the Hextra corporate welfare system. The 2018-2019 edition was enriched with Hera's commitment to allocate to the project, at the end of each of the two years of validity, one euro for each new customer acquired by Hera Comm. A further important change also concerns the new light and gas customers of Hera Comm, who can participate in HeraSolidale by choosing to allocate 1 euro when signing a free market offer to one of the associations. The latter were selected by Hera employees among the 15 identified by the Group on the basis of some criteria, in particular the reputation and transparency of the activities and their contribution to one or more sustainability and development objectives defined in the UN Agenda to 2030 (health and wellness, clean water and hygiene, gender equality, quality education). The five winning non-profit organizations Overall, the amount of 145 thousand euros (87,500 from Hera Comm and 57.500 from the workers), destined for non-profit organizations and collected in 2018, was divided among the participating associations based on the preferences expressed by employees and customers and will be used to create different projects with a positive effect on thousands of people. The non-profit organizations that have already achieved the economic objectives set in 2018, will define with the Company the new projects / objectives to be reached in 2019. On herasolidale.gruppohera.it are available all the information on the projects and on how to join. 20190410_HeraSolidale.1564138574.pdf 2019-07-26 1_900.1554911588.jpg The amount, collected thanks to the subscriptions of the multi-utility workers and the contribution of Hera Comm, was devolved to five associations and will allow the practical achievement of numerous objectives. HeraSolidale will continue also in 2019, giving continuity to the collaboration that sees together workers, company, customers and associations, to achieve positive results for the benefit of many https://www.aism.it/ https://www.butterflyonlus.org/en/ https://www.direcontrolaviolenza.it/ https://english.ant.it/ https://www.savethechildren.it/ Aism Butterfly Onlus Donne in rete contro la violenza ANT Save the children Read more Herasolidale_110

Hera Group approves results at 31/12/2018 Financial highlights Turnover at 6,626.4 million euro (+8.0%) Ebitda at 1,031.1 million euro (+4.7%) Net profits at 296.6 million euro (+11.2%) Net debt at 2,585.6 million euro Net debt/Ebitda ratio improves to 2.51x Proposed dividends increase to 10 cents per share Operating highlights Good contribution to growth coming from all businesses, in particular the integrated water cycle and the gas area Management marked by good results achieved in internal growth Solid customer base in energy sectors (over 2.5 million), up by roughly 150,000 Sorted waste increases to a 62.5% average over all areas served Improvement seen in all sustainability indicators, with shared value Ebitda growing to 375.2 million euro (+14%) 2018 Economic results - Comments of the Hera Group executive chairman Tomaso Tommasi di Vignano Today, the Hera Group’s Board of Directors, chaired by Tomaso Tommasi di Vignano, unanimously approved the consolidated economic results at 31 December 2018, along with the Sustainability Report. 16 years of uninterrupted growth and winning strategies, with all main operating-financial and sustainability indicators improving The Hera Group closed the 2018 financial year with improved results, exceeding expectations. All business areas contributed to this growth, which was largely sustained by regulated activities. The results achieved confirm the Hera Group’s position of leadership among multi-utilities and the solidity of its business model, preparing it to grasp additional opportunities for expansion in the fragmentary markets in which it operates. The Group’s sixteen-year track record of uninterrupted development combining internal and external growth has allowed it to reach significant economies of scale and ever-increasing synergies thanks to its multi-business industrial approach, balanced between regulated and free-market activities, which has proved to be a winning strategy. Since its birth in 2002, the Hera Group has quintupled its Ebitda, with net profits increasing eightfold: it now ranks among the Nation’s leaders in all business areas (first in waste management, second in the integrated water cycle, third in gas distribution and in energy sales to end customers). These results are accompanied by a strong commitment towards social and environmental sustainability and towards creating shared value, both of which are competitive levers in all respects and bring the company’s development into line with the targets defined in the UN’s 2030 Agenda and the most advanced European goals. Turnover exceeds 6.6 billion, increasing by 8.0% The Hera Group’s 2018 turnover rose to 6,626.4 million euro, up 489.5 million (+8.0% over the 6,136.9 seen in 2017), thanks above all to higher revenues in gas and electricity sales owing to volumes sold, in addition to higher revenues in the waste management area and water services. Ebitda grows to 1,031.1 million (+4.7%) Group Ebitda exceeded one billion euro for the first time, reaching 1,031.1 million (+4.7%), up 46.5 million over the 984.6 million recorded in 2017 and above the forecast released on 10 January 2019 (indicating an estimated 1,020 million 2018 Ebitda). This result was due to the good performances seen in the Group’s various business areas, first and foremost the integrated water cycle and the gas area. Operating results and pre-tax profits increase, financial management improves Net operating results also rose, coming to 510.1 million euro, up 30.8 million (+6.4% compared to the 479.3 seen in 2017), despite higher operating amortisation, depreciation and provisions for new investments in regulated distribution and changes in the scope of operations. Pre-tax profits went from 377.8 million euro in 2017 to 418.4 million (+10.7%), rising by 40.6 million euro thanks to a 9.8 million improvement in financial management. Sharp rise in net profits, reaching 296.6 million euro (+11.2%) Group net profits increased to 296.6 million euro (+11.2%), with a 29.8 million euro rise over the 266.8 seen one year earlier. The average tax rate settled at 29.1%, as against 29.6% at 31 December 2017; the latter moreover benefitted from several exemptions, without which it would have come to 30.8%. The improvement is thus equivalent to 1.7% and is linked to the benefits coming from the Group’s considerable investments in assets going towards technological and digital transformation. Profits pertaining to Group Shareholders came to 281.9 million euro (+12.1%), up 30.4 million over 2017. Investments rise to 462.6 million euro, Net debt/Ebitda ratio further improves to 2.51 Including capital grants, the Group’s overall 2018 investments came to 462.6 million euro, up 5% over the 440.5 million seen the previous year. They mainly went to interventions on plants, networks and infrastructures, to guarantee efficiency, safety, resilience and innovation, in addition to regulatory upgrading above all in gas distribution, with an intensive meter substitution, and the purification and sewerage areas. Net investments came to 431.8 million. Net debt settled at 2,585.6 million euro, improving compared to the 30 September 2018 figure and essentially stable with respect to the previous year (2,523.0 million in 2017), despite higher investments, the M&A operations seen during the year and the treasury shares repurchased. Further improvement was seen in the Net debt/Ebitda ratio, which dropped to 2.51 (compared to 2.56 in 2017). The Group’s financial solidity is reflected by the opinions expressed by major rating agencies: Baa2 with a stable outlook from Moody’s and BBB with a positive outlook from Standard & Poor's. Further improvement in the Group’s sustainability, shared value Ebitda up to 36% These positive operating results were matched by an ever-increasing attention towards sustainability. The Hera Group was among the first to introduce, in 2016, shared value reporting, covering all business activities that in addition to generating Ebitda for the company respect the drivers of sustainable development defined by the UN’s 2030 Agenda and, more generally speaking, various national and international policies. The Hera Group’s 2018 shared value Ebitda came to 375.2 million euro, accounting for 36% of overall Ebitda (+14% compared to the 329 million seen the previous year). This result is perfectly in line with the path set out by the Business plan, in which this indicator is projected to reach 40% by 2022. The Group’s attention towards sustainability is also proven by the fact that 40% of total investments made by the Group – coming to over 180 million euro – go towards initiatives and projects aimed at creating shared value, distributed among the three drivers within which the Hera Group has organised this commitment: 71.3 million invested in innovation and contributions to development, 68.9 million in a more efficient use of resources and 48.3 million in a smarter use of energy. Proposed dividends rise to 10 cents per share, inclusion within the FTSE MIB In 2019 Hera became part of the Borsa Italiana FTSE MIB index, which includes the 40 largest companies listed on the Italian stock exchange, thanks to the amount of free float capitalisation and the value of the shares traded over the last six months. The Board of Directors, considering the positive results achieved and the Group’s sound financial profile, has decided to put a dividend of 10 cents per share to the Shareholders Meeting to be held on 30 April 2019, higher than last June (9.5 cents per share) and in line with the content of the Business plan. The ex-dividend date has been set at 24 June 2019, with payment as of 26 June 2019. Gas Ebitda for the gas area, which includes services in natural gas distribution and sales, district heating and heat management, grew significantly over the previous year in terms of both margins and volumes sold: it indeed reached 316.5 million euro (+4.9%), 14.8 million more than the 301.7 million seen in 2017. This result was reached thanks to commercial development on the free market, increased activity on the default market and in last resort supply, greater efficiency in distribution and the positive effect on consumption coming from the colder winter temperatures. The number of customers rose by 59.6 thousand (4.3%), now totalling 1.5 million users, partially due to the acquisitions of 100% of the Abruzzo companies Blu Ranton and Sangroservizi. Volumes sold increased by 18.2%. In 2018 net investments amounted to 115.4 million euro (+14.3% compared to 2017), to guarantee and improve the high-quality standards in networks and plants, with non-recurring maintenance and work involving cathodic protection for the Trieste network. Investments also rose for heat management and the number of new connections in district heating grew. The gas area accounted for 30.7% of Group Ebitda. Water cycle In 2018, the integrated water cycle area, which includes aqueduct, purification and sewerage services, recorded Ebitda amounting to 249.7 million euro, up 19.8 million euro (+8.6%) over the 229.9 seen over the previous year. This result was mainly obtained through the efficiencies reached, higher revenues resulting from the tariffs introduced by the Authority, the bonuses awarded for high service standards and the change in scope of operations resulting from the operational status of the new Servola (Trieste) purifier and a few items from previous years. Net investments amounted to 127.6 million euro (increasing by 12.8% over 2017). Including capital grants, investments totalled 157.9 million, mainly dedicated to extensions, network and plant upgrading and reclamations, in addition to regulatory upgrading concerning above all purification and sewerage. The main investments also included work on the Rimini seawater protection plan, one of the Group’s most important and at the forefront nationwide as regards sewerage and purification. The integrated water cycle area accounted for 24.2% of Group Ebitda. Waste Ebitda for the waste management area, which includes waste collection, treatment and disposal services, also grew, coming to 252.0 million euro (+2.4%), up 6 million over the 246.0 million recorded in 2017. In the waste treatment sector, in which the Group ranks once again as the nation’s leader with roughly 90 plants handling all types of waste, the positive results were mainly due to fluctuations in the price of special waste and revenues from electricity generation. In waste management and recovery, it is worth mentioning, Hera works with complete and integrated offers, providing its partner companies with all-inclusive solutions that bring together efficiency and sustainability, in line with the principles of a circular economy. This is the strategy underlying the biomethane production plant inaugurated in October in Sant’Agata Bolognese thanks to a 37 million euro investment, which as of 2019 will contribute to results in the waste management area, and the contribution coming from Aliplast, a national and international leader in plastic collection and recycling. Sorted waste going towards recycling showed an unprecedented increase in 2018: almost five percentage points, going from 57.7% in 2017 to 62.5%, thanks to the numerous projects implemented across all areas served. The positive performance in sorted waste is also due to a few municipalities where services have been modified as preparation for the shift to unit pricing, with Ferrara representing one outstanding example. Investments coming to 77.7 million euro were mainly dedicated to maintaining and upgrading plants. The waste management area accounted for 24.4% of Group Ebitda. Electricity The electricity area, which includes services in electricity production, distribution and sales, recorded an Ebitda coming to 183.5 million, essentially in line with the 184.5 million recorded the previous year. This result was mainly due to higher revenues from sales and distribution, along with higher margins and operating efficiencies which largely offset lower revenues in trading and the lower income from electricity generation caused by regulatory modifications and temporarily suspended plants in Campania. Electricity customers rose to 1.1 million (+8.9%), up 87.1 thousand, with significant growth seen above all on the free market thanks to reinforced marketing initiatives, in particular in regions of Central Italy. Investments amounting to 23 million euro went mainly to non-recurring maintenance on plants and networks in the Modena, Imola, Trieste and Gorizia areas. The amount of Group Ebitda accounted for by the electricity area came to 17.8%. Statement by Executive Chairman Tomaso Tommasi di Vignano “We are particularly satisfied with the results achieved, since the various indicators confirm that the Hera Group’s growth is a healthy one: it corresponds, indeed, to further increases in the rates of return, with ROI and ROE continually progressing over the last 4 years. This is due to a growing and efficient capital allocation, expansion on free markets, the enhanced efficiency attained, and the innovations introduced, all of which has brought about a 6% growth in Ebitda per employee. Furthermore, we have confirmed our tendency to create value for all stakeholders, beginning with our shareholders, to whom we will pay a 10 cent per share dividend, showing a further increase with respect to the past and in line with what we have presented in our Business plan. They will additionally benefit from a higher stock liquidity, thanks to our recent entry in the FTSE MIB.” Statement by CEO Stefano Venier “The Hera Group’s excellent results, largely produced by internal growth, bear witness to the actions we have undertaken to improve efficiency and sustainability to an even greater degree, and also to broaden our reference market through tenders and boost our ability to compete on free markets. Our positive operating management has been matched by an improved financial management and tax optimisations, as is fully reflected by the Group’s growing profits. I feel it is important to mention that our growth is proceeding at the same rate as our attention towards sustainability and creating shared value, both fundamental levers in our strategy. Evidence of this can be seen in both the Group’s rising Ebitda that, in 2018 as well, was fully in line with the principles of shared value, and in our innovative financial operations, such as launching the first sustainable revolving line of credit last May, after we pioneered the first green bond on the Italian market in 2014.” PROFIT & LOSS (M€) 31/12/2018 INC.% 31/12/2017 INC.% CH. CH. % Sales 6,134.4 5,612.1 +522.3 +9.3% Other operating revenues 492.0 8.0% 524.8 9.4% (32.8) (6.3%) Raw material (2,984.1) (48.6%) (2,606.8) (46.4%) +377.3 +14.5% Services costs (2,040.5) (33.3%) (1,952.2) (34.8%) +88.3 +4.5% Other operating expenses (62.5) (1.0%) (84.6) (1.5%) (22.1) (26.1%) Personnel costs (551.4) (9.0%) (551.6) (9.8%) (0.2) (0.0%) Capitalisations 43.3 0.7% 43.0 0.8% +0.3 +0.7% Ebitda 1,031.1 16.8% 984.6 17.5% +46.5 +4.7% Depreciation and provisions (521.0) (8.5%) (505.3) (9.0%) +15.7 +3.1% Ebit 510.1 8.3% 479.3 8.5% +30.8 +6.4% Financial inc./(exp.) (91.7) (1.5%) (101.5) (1.8%) (9.8) (9.7%) Pre tax profit 418.4 6.8% 377.8 6.7% +40.6 +10.7% Tax (121.8) (2.0%) (111.8) (2.0%) +10.0 +8.9% Net profit before special items 296.6 4.8% 266.0 4.7% +30.6 +11.5% Special items 0.0 0.0% 0.8 0.0% (0.8) (100.0%) Net profit 296.6 4.8% 266.8 4.8% +29.8 +11.2% Attributable to: Shareholders of the Parent Company 281.9 4.6% 251.5 4.5% +30.4 +12.1% Minority shareholders 14.7 0.2% 15.3 0.3% (0.6) (3.9%) BALANCE SHEET(M€) 31/12/2018 INC.% 31/12/2017 INC.% CH. CH.% Net fixed assets 5,905.1 108.7% 5,780.6 110.5% +124.5 +2.2% Working capital 115.4 2.1% 23.2 0.4% +92.2 +397.4% (Provisions) (588.2) (10.8%) (574.8) (10.9%) (13.4) +2.3% Net invested capital 5,432.3 100.0% 5,229.0 100.0% +203.3 +3.9% Net equity 2,846.7 52.4% 2,706.0 51.7% +140.7 +5.2% Long term net financial debt 2,558.8 47.1% 2,735.4 52.4% (176.6) (6.5%) Short term net financial debt 26.8 0.5% (212.4) (4.1%) +239.2 (112.6%) Net financial debts 2,585.6 47.6% 2,523.0 48.3% +62.6 +2.5% Net invested capital 5,432.3 100.0% 5,229.0 100.0% +203.3 +3.9% Self-assessment of the Board of Statutory Auditors It should be noted that today the Board of Directors has taken note of the self-assessment report of the Board of Statutory Auditors of Hera S.p.A. that has carried out, according to the current legislation, its own self-assessment, based on the analysis of the suitability of its own members and the proper composition of the body. The Board has ascertained in particular that its members meet the requirements of professionalism, competence, integrity and experience. 2019-03-27 For further informations 870x320_eng.1553708795 (1).jpg The multi-utility, included as of Monday 18 March in the FTSE MIB, closed the year with all main results improving beyond expectations, reaching the milestone of a one billion-euro Ebitda and crowning a history of 16 years of uninterrupted growth. Proposed dividends also rise to 10 cents per share, in line with the content of the business plan. /-/hera-group-approves-results-at-31-12-2018-1 /group_eng/investors Press release Investor relations centrata Hera Group approves results at 31/12/2018

Bilancio d'esercizio 2018 16 years of brilliant results thanks to a dynamic and sustainable strategy The 2018 financial statements reported improved results, better than the expectations. Growth to which all company sectors contributed: energy, water and environmental. The numbers confirm the Hera Group's excellent positioning among multi-service companies in the Italian landscape. They reward innovation and are testimony to the effectiveness of the initiatives implemented in the field, to achieve ever-increasing efficiency, quality and sustainability. The solidity of the business model and a dynamic strategy lay the foundations for seizing the opportunities that emerge from an evolving scenario. "We are very satisfied with the results of 2018, which recorded growth once again. Constant improvement over time since 2002, the year Hera was founded. Healthy growth, which has always focused on the excellence of the services offered and attention to environmental and social sustainability, built together, step after step, thanks to the efforts and commitment of those who work with proficiency and dedication on a daily basis. These excellent results allow us to distribute a dividend of Euro 10 cents per share to our shareholders." President Tomaso Tommasi di Vignano went on to say at the end of the Board of Directors meeting of 27 March. Chief Executive Officer, Stefano Venier, added: "There were many interesting results, I'll draw attention to just three which I believe are cause for satisfaction and reassurance for many citizens: separate waste collection, for protection of the environment, has improved throughout the entire area served; the number of customers who have chosen Hera for gas and lighting has risen; Group investments have increased in water plants to protect this precious resource. I want to stress that our sustainable growth is being achieved hand in hand with the creation of shared value, with important benefits for the territory in which Group operates, which it is deeply rooted in". 2018 Economic results - Comments of the Hera Group executive chairman Tomaso Tommasi di Vignano 2019-07-18 16 years of brilliant results thanks to a dynamic and sustainable strategy. The 2018 financial statements reported improved results, better than the expectations. Growth to which all company sectors contributed: energy, water and environmental /-/hera-group-approves-results-at-31-12-2018-1 /documents/1514726/4185885/Sustainability_report_2018.1556277857.pdf/e8a25dc7-edaa-719e-d625-9cc85bbfe8fb?t=1595941280703 /documents/1514726/4185885/Sustainability_report_2018_Highlights.1555672617.pdf/c2074c5c-8f84-7d5a-5147-88d55123b939?t=1595941282958 /group_eng/investors Read the press release on Y2018 results Sustainability Report 2018 complete version 2018 Sustainability Report Highlights Find out the Investor Relations area Bilancio d'esercizio 2018

Hera Group Hera has been included, as of today, Monday 18 March, in the FTSE MIB, the main index of Borsa Italiana, which comprises the 40 largest stocks listed on the Italian stock exchange in terms of capitalisation, liquidity and trading volume. Hera, one of Italy's leading multi-utilities, has become part of this index based on the amount of free-float capitalisation and the value of shares traded over the last six months (+52% compared to the 2018 average). This achievement was made possible by Hera's path of uninterrupted growth, which began 16 years ago and is based on a multi-business model that combines internal and external growth and shows a mix of activities offering resilience towards the main macro-variables seen in its reference scenario. The new Business plan to 2022 shows further prospects for growth in Ebitda (+200 million euro in the period from 2018 to 2022), sustained by 3.1 billion in investments (of which 1.1 going towards development). Increases in cash generation will also ensure the Group's ability to maintain its financial soundness (with the 2022 target for the net debt/Ebitda ratio coming to 2.9). The Plan also confirms the importance of creating value for shareholders, with a dividend policy aimed at paying 11 cents per share in 2022 (compared to the 9.5 cents paid in 2018). 2019-03-18 For more information sede_hera_1.1565014838.bmp As of today, Monday 18 March, the multi-utility is part of the index comprising the 40 largest companies listed on the Italian stock exchange /group_eng/investors Go to Investor Relations Hera Group

ATR-CMV_110 Following the approval of the related Shareholders' Meetings on 20 December, the transaction was formalized today which provides for the integration of the energy activities of CMV Servizi, including the subsidiary A Tutta Rete (ATR), and CMV Energia e Impianti in the Group Hera, respectively in Inrete Distribuzione Energia with regard to natural gas distribution activities and in Hera Comm for energy sales activities. The integration into the Hera Group, operational since 1 March 2019, involves around 30,000 redelivery points (26,500 in the Ferrara area and over 3,100 in the Bologna area) for the distribution of natural gas and about 25,000 customers (21,300 gas and 3,500 electricity), who will receive a bill communication to welcome them and explain all the news. In particular, the Customer Service number 800.688.690 will remain active for energy CMV customers and the current branches will be maintained, including that of Viale Cavour in the recently renovated Ferrara city center, already integrated with the services of the Hera Group. From March 1, those who connect to the CMV website will be automatically redirected to the new dedicated pages. In addition to maintaining the territorial safeguards and the current personnel employed in the two branches of activity of CMV Servizi and CMV Energia e Impianti, with convergence with respect to the other activities of the multi-utility in the same territory, the Hera Group solutions and policies will be applied, for the benefit of of the quality and innovation of the service dedicated to customers. ATR-CMV_870 20190226_From_1_March_the_energy_activities_of_CMV_Servizi_and_CMV_Energia_e_Impianti_go_to_Hera_Group.1564137027.pdf 2019-07-26 ATR_CMV_870.1551343799.1564137025.png Last formal step for the integration between the natural gas distribution activities of Inrete and CMV Servizi and between the energy sales activities of Hera Comm and CMV Energia e Impianti. CMV's energy customers will receive a dedicated communication with all the news on their bills Read more ATR-CMV_110

ATR-CMV_110 Following the approval, on 20 December, by the associated shareholders' meetings, the transaction was formalised today which makes provision for the integration of the energy activities of CMV Servizi, including the subsidiary A Tutta Rete (ATR), and CMV Energia e Impianti in the Hera Group, respectively in Inrete Distribuzione Energia as regards natural gas distribution activities and in Hera Comm for energy sale activities. The integration in the Hera Group, operational from 1 March 2019, concerns around 30,000 redelivery points (26,500 in the Ferrara area and more than 3,100 in the Bologna area) for natural gas distribution and around 25,000 customers (21,300 gas and 3,500 electricity), who will receive a communication in their bill to welcome them and explain all the changes. In particular, for CMV energy customers, the customer service number 800.688.690 will remain active and the current branches will be retained, including that of Viale Cavour in the historical centre of Ferrara, recently renovated and already integrated with the services of the Hera Group. From 1 March, those who connect to the CMV website will automatically be redirected to the new dedicated pages. In addition to maintaining the regional coverage and current personnel employed in the two business units of CMV Servizi and CMV Energia e Impianti, with convergence with respect to the other activities of the multiutility in the same territory, the solutions and policies of the Hera Group will be applied, for the benefit of the quality and innovativeness of the service dedicated to customers. ATR-CMV_870 20190301_Energy_activities_of_CMV_Servizi_and_CMV_Energia_e_Impianti_to_the_Hera_Group.1563432305.pdf 2019-07-18 ATR_CMV_870.1551343799.1563432304.png The last formal step on today's date for the integration of the natural gas distribution activities of Inrete and CMV Servizi and the energy sale activities of Hera Comm and CMV Energia e Impianti. The energy customers of CMV will receive a special communication in their bill with all the updates ATR-CMV_110

Potentialpark_110 Just a few weeks after the Top Employers certification, the Hera Group is confirmed among the most "talent friendly" companies in Italy for the third consecutive year. This is proclaimed by the new Italian edition of the Online Talent Communication studio, created by the Swedish research company Potentialpark which, each year, compiles the classification of companies that, through on-line communication, are more attractive for candidates looking for work. In the 2019 edition of Potentialpark, the multiutility, in addition to joining the Top-Ten Italia, obtained an excellent position in three categories: first place in the ATS category, for the quality of the portal through which applications are managed; second place for the Mobile category, for the ease with which candidates can apply using a mobile phone/smartphone; third place in the category "Career Website", thanks to the constant improvements made to the "Working at Hera Group" section on the company website (www.gruppohera.it/gruppo/lavorare_gruppohera). Significant results attributable to the constant commitment shown by the Hera Group to creating, disseminating and personalising content and information on the policies regarding human resources in the different web communication tools: from the positions open to internship offers, to training courses or agreements with the universities. In fact, numerous activities were implemented in the field to make the application process easier and provide all the necessary information for understanding "life" at Hera. As regards social networks, the multiutility is recognised for its good strategy both in terms of promoting open positions and the content of the activities described, thanks to the growing interaction through the company page on LinkedIn, the professional platform par excellence, where Hera now has more than 46 thousand contacts, and the use of other channels, starting with Twitter. Potentialpark_870 20190301_CS_Potentialpark_Hera_DEF.1563432613.pdf 2019-07-18 Potentialpark_870.1551441116.1563432612.png For the third consecutive year, the multiutility is awarded by major Swedish research company Potentialpark for being the most "talent friendly" company in on-line communication targeted at young new graduates looking for employment. An award received just a few weeks after the prestigious Top Employers certification for the job conditions offered to employees Potentialpark_110

toputility_110 The Hera Group focuses on communication to create a direct relationship and open dialogue with the local area in which it operates. A commitment that saw it achieve first place in the "Communication" category of the seventh edition of the Top Utility award which, each year, analyses and enhances the evolution and performance of the top 100 Italian utility companies. The award ceremony was held today in Milan, during the Top Utility Analysis convention entitled "Utilities, the driver of sustainable growth". Quality and transparency: Top Utility rewards Hera communication "Capacity to establish relationships with all stakeholders and listen to the numerous requests from the communities in which it operates, as well as a high level of administrative transparency": these are the factors that have made the difference for the members of the Scientific Community (lecturers and researchers at the most important Italian universities) who chose to give the award to Hera. In particular, indicators relating to the quality of the website, transparency and exhaustiveness of financial, institutional and environmental communications were used for the evaluation. But also the quality of communication with customers and the various stakeholders. The recognition this year for communication is a repeat of the one obtained in the same area in 2014 and augments the Top Utility Assoluto award received in 2012 and the Top Utility Sostenibilità award in 2015 and 2018. The website, apps and social channels: Hera close to citizens An always updated and highly interactive website, with dedicated on-line services for customers, plus numerous channels for dialogue with citizens and operating support for services, including social and the app. "My Hera", an extremely valuable application that Hera Group customers can use to manage their utilities; but also "Rifiutologo" and l'"Acquologo", which turn smartphones and tablets into digital assistants for separate waste collection and water services: these are some of the strong points of communication that have brought the multiutility to the summit of the Top Utility classification. Not only these, numerous initiatives constantly implemented in the field to spread awareness of the economic and sustainability data. Together with multiple editorial activities to inform citizens about particularly important themes, an example of which are the annual reports on the themes of water, energy, waste and initiatives for citizens and customers. toputility_870 20190221_CSpremioTopUtility_DEF.1563431901.pdf 2019-07-18 Read more top_utility_870.1550754098.1563431900.png The prize was given today in Milan at the seventh edition of the award, which analyses and enhances the performances of the most important public service companies in the country http://www.toputility.it/ https://twitter.com/GruppoHera https://www.instagram.com/gruppohera/ Visit Top Utility website Visit Hera Group Twitter profile Visit Hera Group Instagram profile toputility_110

valuetoenergy_110 Giving "Value to energy", because the advantageous effects of the circular economy model are actually visible in energy savings. And this is one of the objectives of the Hera Group which, on Monday 18 February, celebrates International Energy Efficiency Day. An imperative that is also the title of the sustainability report in which the Hera Group details the results obtained over the last eleven years on the energy efficiency front. Now in its fourth edition, the report - verified by an independent certification body - analyses all the aspects which embody the multiutility's commitment to energy savings and efficient energy use, focusing on environmental and economic sustainability and to the interests of the local areas and more than 4 million customers. Decarbonisation is actually crucial for tackling climate change. Both the multiutility's energy efficiency initiatives and the other projects for promoting the production of renewable energy are implemented with this in mind.The Hera Group also contributes to 6% of the national white certificates target, by incentivising energy efficiency and financing projects with measurable and certified savings. The figures are telling: 507 projects have been implemented in the field by the Group over the last 11 years to save energy (of which 133 in companies in the local area), with 753 thousand toe (tonnes of oil equivalent) saved, corresponding to annual consumption of 529 thousand households, and 1.4 million tonnes of avoided CO2, equivalent to approximately one million less cars in circulation (with 10,000 km of travel). In order to reach these energy efficiency objectives, Hera therefore makes all its know-how available to local companies, by supporting them in carrying out energy analyses, with the objective of encouraging the implementation of energy efficiency initiatives. In the Bologna area alone, the last two projects, which concerned the construction and management of a new technology-energy hub for a company which produces bioplastics and a new cooling plant for a well-known company that produces salami and cold pork meat, generated a total energy saving of 413 toe per year. The confirmation of the multiutility's general objective of cutting its energy consumption by 5% by 2020 (with respect to 2013 consumption) should also be emphasised, following the increase from 3% to 5% which occurred last year. These initiatives generated a saving of over Euro 8 million, of which Euro 4.5 million relating to the water service, with subsequent benefits on citizens' bills. The results have been made possible by integrated efficiency programmes, implemented in the field continuously by the Hera Group, first and foremost within its plants and offices and which, in 2017 alone, enabled the company to improve the heating energy efficiency index of its premises by 6.3%. As regards plants, an important example is on show in the water sector, in which Hera implemented 115 efficiency initiatives, for a total of 2,876 toe saved. Significant efforts were expended in the public lighting sector, in which Hera manages more than 518 thousand lighting points scattered throughout Italy, 71% low consumption and 51% with consumption optimisation, augmented by 65% of traffic lights with led lights. Stratagems which, in 2017, contributed to an energy saving of 10.2%. valuetoenergy_870 20190215_CS_Hera_per_la_giornata_internazionale_dell_efficienza_energetica_BO_DEF.1563431443.pdf 2019-07-18 Read more value_to_energy_870.1563431442.jpg Over 11 years, with 507 projects, with a saving of 753 thousand toe (tonnes of oil equivalent), equal to annual consumption of 529 thousand households and benefits in terms of tackling climate change. The multiutility looks to 2020, aiming to reduce consumption by 5%. All the available data in the Value to Energy report, dedicated to the Hera Group's commitment to energy efficiency valuetoenergy_110

Valsecchi_110 The Hera Group promotes the project by Carlo Valsecchi, which from February 1 to March 31, 2019 exhibits fourteen photographs of the Gasometer M.A.N. #3 at the Pinacoteca Nazionale di Bologna. The photographs by Carlo Valsecchi tell in a completely new and original way the metamorphosis of the gasometer during the reclamation and restoration works promoted by the same multi-utility. Outside of any archaeological intent, Valsecchi's work presents the structure of the gasometer as a living organism in continuous transformation and not as inert testimony of an industrial past. The project, in addition to the free exhibition, is accompanied by a volume edited by Luca Massimo Barbero, published by Silvana Editoriale. Carlo Valsecchi's work stems from a continuous and direct dialogue with the places he faces in his projects from time to time, be they architecture, an urban landscape, heavy industry, high-tech industry, or natural infinity. The analogical and geometric-analytical approach to large-format photography - a medium that distinguishes the entire production of Valsecchi - leads him to break down and recompose the subject to return it in a completely new form. "We wanted this exhibition - comments Tomaso Tommasi di Vignano, Executive Chairman of the Hera Group - to bring out the distinctive element of our recovery intervention, which goes beyond a merely conservative dimension and gives the city a structure capable of actively interacting with the his physical and emotional landscape: an important artist like Carlo Valsecchi - continues Tommasi - thanks to his experience at international level, he was able to fully grasp this aspect, allowing us to represent also through art the spirit with which we put ourselves daily at the service of our reference territories ". [block]div:row-fluid::db:hr_press_comunicazione::box:117[/block] Valsecchi_870 2019-07-23 mostra_valsecchi_870x.1547559528.1563890557.jpg The exhibition will be open for free from February 1 to March 31 2019 at the Pinacoteca Nazionale of Bologna Valsecchi_110

The Hera Group firmly holds its place among the companies that set themselves apart for their commitment to providing the best working conditions for their employees and for implementing best practices focused on the development and well-being of its people. It was certified by the Dutch organisation Top Employers Institute which, since 1991, has been carrying out research focused on quality standards in terms of human resources management. Moreover, with this year's achievement, Hera has achieved ten consecutive Top Employers certifications: a factor that further enhances the value of the recognition and confirms the Group's ongoing focus on the development and continuous improvement of its strategies in this field. For the Dutch institute, in fact, what qualifies Hera for certification are "the working conditions offered to employees and the ability to develop a human resources strategy focused on putting people first". Top Employers is one of the most prestigious international awards. Its selection and certification process requires in-depth data surveys and validation. The parameters the Institute analyses include: investment in learning and development, corporate welfare and on-boarding, career and succession management, talent strategy, corporate culture and the working environment. The level required for each of them is very high, which makes access to certification very challenging. Hera's best practices include: Hextra, the integrated corporate welfare plan for the Group's almost 9,000 employees, in which workers can "customise" a quota of economic resources according to his or her needs, as well as the possibility of converting part of one's performance bonus into an additional welfare quota; work-life balance measures and initiatives to raise awareness on health, safety and well-being issues. Also, Hera Group's commitment to equal opportunity and the appreciation of diversity is paramount. Hera is once again among the leading Italian companies that invest in the personal and professional development of its employees, with 29 hours of training per capita per year, well above the national average for multi-utilities. Heracademy, the corporate university that facilitates the Group's interaction with companies and the main public local organisations, has played a pivotal role in this context. It has also provided targeted training opportunities, such as workshops focused on the macrotrends of business and society. Not to mention the significant investments to increase organisational agility and to develop digital skills. Hera has also implemented many projects thanks to partnerships with important local and national companies, focussing on innovation and circular economy. The new generations are also at the heart of Hera's commitments, to train tomorrow's employees today and pass on the Group's values and mission. An example is the ever-increasing number of joint school-work experiences that Hera has organised, based on adding business skills to those acquired in secondary schools, which starting this year will also take place in the Veneto and Friuli-Venezia Giulia regions. In addition, the focus on sustainability and generating shared value remains strong, as reflected by Hera's participation in the network of companies involved in the "Insieme per il Lavoro" [Together for Work] project, in which the Group engaged in implementing horizontal cooperation, training and mentoring practices to help people in need or scarcely independent and seeking employment. "To receive the Top Employers certification for the tenth consecutive year makes us particularly proud because it acknowledges our commitment in the field of training and investments directed to the well-being of our workers, our primary resource - declared Tomaso Tommasi di Vignano, Executive Chairman of Hera. Moreover, it confirms our front-line involvement on behalf of the new generations, to whom we try to hand down the distinctive values of our corporate culture: integrity, transparency, personal accountability and continuous improvement". Top employer 2019 20190131_comunicato_Top_Employers_2019_EN_DEF.1549895226.pdf 2019-01-10 top_employer_2019_870x320.1548921797-2.png Innovative human resource strategies, excellent working conditions, initiatives for personal and professional development for the entire company and the new generations: this is how Hera achieved the prestigious certification for the tenth consecutive year. https://www.top-employers.com/it/ Go to the Top Employer site centrata top_employer_2019_110x150.1549895228.png

Hera Group - Business Plan to 2022 The Hera Group is promoting Carlo Valsecchi's "Gasometro M.A.N. n.3" project, on display from 1 February to 31 March 2019 at the Pinacoteca Nazionale of Bologna in the Salone degli Incamminati. In an entirely new and original view, Carlo Valsecchi’s fourteen photographs tell the story of the iconic gas holder’s metamorphosis throughout the reclamation and restoration works sponsored by the multiutility. Far from any archaeological intent, Valsecchi's work presents the gasometer’s structure as a living organism in continuous transformation and not as an inert testament to an industrial past. In addition to the free exhibition, the project is complemented by a publication curated by Luca Massimo Barbero, published by Silvana Editoriale. Carlo Valsecchi's work stems from a continuous and direct dialogue with the places he encounters from time to time in his projects, whether they be architecture, an urban landscape, heavy industry, highly technological industry, or the infinity of nature. His analogical and geometric-analytical approach to large-format photography - a medium that distinguishes all of Valsecchi's production - leads him to break down and recompose subjects, to bring them back to life with a completely new appearance. “With this exhibition - comments Tomaso Tommasi di Vignano, Executive President of the Hera Group - we wanted to draw attention to the distinctive element of our recovery operation, which goes beyond its merely conservatory aspect and gives the city a structure capable of actively interacting with its physical and emotional landscape. An important artist like Carlo Valsecchi - continues Tommasi - thanks also to his experience at an international level, has been able to grasp this aspect in depth, allowing us to represent through art the spirit with which we put ourselves daily at the service of our territories of reference”. The project is part of ART CITY Bologna. Pinacoteca Nazionale di Bologna Sala degli Incamminati via Belle Arti 56, Bologna Open to the public from 1 FEBRUARY to 31 MARCH 2019 from Tuesday to Sunday 10.00 a.m. - 7.00 p.m. Free admission Saturday 2 February special opening until 11.00 p.m. for the ART CITY White Night event The poster of the Gasometro M.A.N. n.3 exhibition (2525 Kb - PDF) Carlo Valsecchi – BIOGRAPHY Carlo Valsecchi was born in Brescia in 1965. He lives and works in Milan. In 1992 his work was selected for the Venice Architecture Biennale exhibition, and he later held exhibitions in Italy and abroad. He has exhibited his photographs in galleries, public and private institutions and events around the world, including the Istituto Italiano di Cultura, New York (1999); Fondazione Peggy Guggenheim, Venice (2000); Galerie 213, Paris (2001); Studio Casoli, Milan (2001); Semaines européennes de l’image – Le bâti, le vivant, Luxembourg (2002); GAMeC, Bergamo (2003); Guido Costa project, Turin (2006); Triennale di Milano (2006); Paris Photo, Statements, Paris (2007); Kunstforum, Vienna (2009); Musée de l’Elysée, Lausanne (2009); Walter Keller Gallery, Zurich (2009); Galleria Carla Sozzani, Milan (2011). His exhibitions also include: San Luis, MaRT – Museo d’Arte Moderna e Contemporanea di Trento e Rovereto, Rovereto (2011); the 54th Mostra internazionale di arti visive of the Venice Biennale, Italy Pavillion, Norman Foster selection, Venice (2011); Subverted, Ivorypress, Madrid (2012); Landmark: the Fields of Photography, Somerset House, London (2013); Mare Nostrum, Walter Keller Gallery, Zurich (2013); Museo della Merda, Piacenza (2015); Industria, oggi, MAST Foundation, Bologna (2015); No Man Nature, Palazzo Da Mosto, Fotografia europea, Effetto Terra, Reggio Emilia (2015); Fotografie dell’Emilia-Romagna al lavoro, MAST Foundation, Bologna (2016); Sviluppare il Futuro, Ex Ospedale dei Bastardini, Biennale di Fotografia dell’Industria e del Lavoro, Bologna (2017); Civilization: the way we live now, MMCA Seoul, South Korea (2018). In 2010, the book Lumen (Hatje Cantz, 2009) was given the silver award at the Deutscher Fotobuchpreis, the German photo book award of the year. Bologna's Gasometer - HISTORY The "Gasometro Man n. 3" has characterised Bologna's skyline for almost a century. It is located inside the headquarters of the Hera Group, one of the largest Italian multiutilities, that provides waste management, water and energy services. In operation since 1930, it was used until 1984 to store gas used in the city. It is 52 meters high with a diameter of 30 and is considered a jewel of industrial architecture in the heart of the capital of Emilia. It was built using the so-called "dry" construction method, at the time very widespread abroad but not yet tested in Italy. The gasometer consists of a 16-sided prismatic sheet metal casing that rests on a concrete base. An iron cap with a ventilation dome covers its top. Outside, three walkways are linked to each other by a staircase that wraps around the building. The last coal distillation furnace was shut down on 7 October 1960 and for a few years gasometers were used to store the new methane-based natural gas. In the 1980s, with the introduction of new storage facilities, the gasometer was definitively decommissioned. By restoring it, the Hera Group has made it the absolute protagonist of its headquarters area, which was recently inaugurated after major modernisation and redevelopment works. 2019-01-10 From 01/02/2019 to 31/03/2019 Pinacoteca Nazionale di Bologna (the national art gallery of Bologna), V. Belle Arti 56 Tuesday to Sunday 10.00 a.m. - 7.00 p.m. Hera Group - Business Plan to 2022

Hera Group - Business Plan to 2022 Operating and financial highlights 2022 Ebitda: 1,185 million euro (+200 million over 2017 Ebitda) Overall industrial and financial investments: over 3.1 billion euro (+9% over the investments foreseen by the previous Business Plan) Net debt/Ebitda ratio to remain below 3 Further increases expected in dividends, reaching 11 cents per share in 2022 (+16% over the last dividend paid) Business highlights Business strategy once again based on 5 priorities: growth, efficiency, excellence, innovation and agility, all reworked and enhanced to meet the challenges involved in Ecosystems, Circularity and Technology Development driven by a balanced mix of internal and external (M&A) growth Confirmation of tenders currently awarded for gas distribution and urban waste management Goal of reaching over 3 million energy customers by 2022, thanks to leadership in last resort services, the end of the protected market and actions taken towards commercial growth Shared Value coming to over 470 million euro Preliminary consolidated 2018 Ebitda at roughly 1,020 million and a plan geared towards growth This morning the Hera Group’s Board of Directors, which met to discuss the Business Plan to 2022, also examined the forecast of consolidated results for 2018, with year-end Ebitda reaching 1.02 billion euro, up 3.6% over the 984.6 million seen at 31 December 2017 and higher than expected by the previous business plan. The net debt/Ebitda ratio settled at roughly 2.54x, in line with the previous year. On the solid basis of this achievement and the results previously reached, which reflect an uninterrupted path of growth lasting 16 years, the Board approved the new Plan to 2022, which shows a strong commitment towards the Group’s further development in the industry, in spite of an increasingly complex scenario. A deeply changing scenario The macro-economic scenario now appears to be less favourable than in the past (with interest rates rising and an economic outlook less positive than during the previous year), and yet this should not significantly influence the Group’s prospects, thanks to the breakdown of its service portfolio, the changes introduced in its business models in recent years and its large degree of regulated activities. The upcoming years will witness many important events, perhaps most decisively the process, already underway, involving tenders in gas distribution, which is expected to lead to a significant rationalisation in the number of operators. In the waste collection sector as well, the five years covered by the Plan are expected to see the beginning of tenders for service concessions that have already expired or will do so in the near future. Regulatory changes for customer segments in protected services are also foreseen, intended to promote an additional increase in the added value of services offered and higher competition on the marketplace. Mention must also go to continued progress towards consolidation in multi-utility sectors, energy sales and waste treatment services, which are still among the most fragmentary in Europe. Investments amounting to over 3.1 billion euro, financial solidity confirmed In light of the opportunities offered by the scenario, the new Plan to 2022 foresees investments coming to over 3.1 billion euro, up roughly 260 million over the previous strategic document. Three quarters of these investments will be concentrated in regulated activities: approximately 70% will continue to be dedicated to the network system and roughly 6% to urban waste collection. Significant interventions in infrastructure modernisation and development will be deployed, confirming the Group’s commitment to investing in its reference areas and thus offering increasingly innovative, resilient and high-quality services. Investments intended for tenders for gas distribution have thus been confirmed, in order to maintain the major tenders currently managed. Overall, considering the expansion in plants, gas tenders and M&As, roughly 1.1 billion in investments will be dedicated to supporting development in these activities over the next five years. This investment plan is financially sustainable thanks to an increasing cash generation, able to cover investments and pay dividends. The ratio between net financial debt and Ebitda is expected to settle at 2.9 by 2022, in line with the figure seen in the previous plan. Without including the effect of tenders, financial balance will remain similar to the present, guaranteeing sufficient leeway to be able to grasp any possible opportunities for growth not included in the Plan, without harming the Group’s financial solidity. A strategy aimed at grasping opportunities, with a focus on Shared Value as an additional source of competitive advantages The Group’s strategy is focused on Ecosystems, Circularity and Technology, achieved by activating its time-tested principles of efficiency, excellence, growth, innovation and agility, in addition to creating coherent projects that guarantee the full implementation of the Business Plan. Always giving close attention to issues regarding sustainability, the Group has recently defined some lines of development intended to pursue the goals on the UN Agenda which apply to the activities carried out by this multi-utility (covering at least 10 of the 17 goals indicated). Almost 3/4 of the growth expected over the five years covered by the Plan will thus be sustained by projects introduced in order to respond to this “call to action”, thus bringing the amount of shared value Ebitda to exceed 470 million euro by 2022 (corresponding to 40% of overall Ebitda). Ebitda targets growing, balanced among the various business areas, between regulated and free market activities and between internal and external growth Matching the investments implemented over the next five years, 2022 Ebitda is expected to reach 1,185 million euro, with an over 200 million increase compared to the 984.6 million recorded in 2017 and with an average annual increase of roughly 40 million over the period of time covered by the Plan. All areas of activity (networks, waste management, energy and other services such as telecommunications and public lighting) will contribute to this growth, with the Group’s usual balance between income from regulated and free market activities, as well as between internal and external growth. Thanks to higher levels of efficiency and ever more substantial investments, the overall contribution to the increase in Ebitda coming from internal growth is expected to reach 120 million over the period of time covered by the Plan (130 million, taking into account 10 million due to lower incentives), while an 80 million increase in Ebitda is expected from external growth. These goals are in line with the five-year growth of the previous Plan and that benefit from the already consolidated outperformance linked to the trends seen in 2018 and the outcome of tenders for last resort markets, in which Hera has become the leader in all segments. Value for shareholders to increase, with a bold dividend policy The Plan confirms the Group’s attention towards the creation of value and transparency in dividend policies, which have become more challenging than in the past and compared to the content of the previous Business Plan. The dividend established, which had already risen to 9.5 cents per share in 2017, will indeed reach 10 cents per share in 2018 and 2019, 10.5 in 2020 and 2021 and 11 in 2022 (+16% over the most recent dividend payment), with a 0.5 cent increase every 2 years. Networks: efficiency and resilience intended to tackle climate change; innovation and excellence to become a leading figure in a smart economy Most of the growth foreseen by the Plan is expected to come from the networks area: Ebitda related to electricity and gas distribution, the water cycle and district heating will increase from the 424 million euro seen in 2017 to 581 million in 2022, thus making up roughly half of the Group’s overall Ebitda. Many initiatives have been introduced to make networks increasingly “smart”, boosting their efficiency, circularity and resilience as well as contributing to their ability to meet the growing challenges coming from climate change and the environment. These projects include a large-scale installation of “smart” meters, understood as factors able to promote the evolution towards smart cities. One example lies in the new and evolved functions shown by the last-generation gas meters developed by the Group in a partnership with Panasonic, which will allow the service to be constantly monitored and increase safety in case of leaks, earthquakes or network disruptions. In electricity distribution, network upgrading is expected to benefit the continuity of this service, by constructing new primary transformer rooms and carrying out targeted interventions on secondary transformer rooms, also involving network automation and digitalisation to support on-field interventions by personnel. District heating will play a significant role in decarbonising the area, since over 70% of the heat produced over the duration of the Plan will be generated from renewable and comparable sources. As regards the gas area, an opportunity for expansion lies in the tenders to be awarded for grants in gas services; after countless postponements, this should take place within 2022, beginning as of the current year, in all geographical areas in which the contracting authorities have already defined the networks’ VIR (residual industrial value). In this sector, the Hera Group aims at growth mainly by confirming the areas already served, thanks to investments amounting to roughly 470 million. In the water area, lastly, the focus will go to protecting this resource, by upgrading the search for leakage and developing the districtualization of the network, also including innovative projects in water management to promote, both inside and outside the company, increasing sustainability and awareness regarding the use of water. Special attention will go to the reuse of purified water, already implemented with excellent results in the Bologna area and currently being extended to other zones. Consolidating leadership in the waste management sector, by enhancing resource protection and maximising reuse Ebitda in the waste management area is expected to grow from the 246 million euro seen in 2017 to almost 300 million in 2022. The goal set for this area is to be confirmed at the forefront as an operator in the integrated waste cycle, offering concrete solutions for businesses and citizens. Protecting environmental resources will remain a top goal, as will maximising their reuse. Special attention will continue to go to promoting sorted waste, expected to rise from 57.7% in 2017 to over 73% in 2022 and to see qualitative improvement as well, through specific communication campaigns and initiatives designed to get citizens involved. Unit pricing should provide citizens with an incentive to improve the quality of their sorted waste as well, as has been demonstrated by the excellent results, exceeding expectations, reached in a few municipalities where it has already been introduced (attaining over 85% of SW in a local capital such as Ferrara and peaks of close to or over 90% in some municipalities in the Modena area). In waste treatment and recovery, the Herambiente Group will be able to consolidate its national leadership by offering complete and integrated commercial packages. The latter consist in solutions for large industrial clients, including waste and energy services as well as purification and through an avant-garde group of plants able to offer solutions supporting a circular economy. These range from the biomethane production plant recently opened in the Bologna area, to reinforcing Aliplast’s outstanding capabilities in plastic recycling, creating new business opportunities, and lastly launching important partnerships, such as the ones with Eni in biofuel and Bio-on in developing new natural and 100% biodegradable plastic materials. Collecting and analysing data coming from on-field infrastructures (bins, vehicles, etc.) and WTE plants will allow all activities to be optimised, automating processes and reducing costs. Energy: over 3 million customers, thanks to customer experience and new “sustainable” solutions Ebitda for the energy area will settle at 268 million in 2022, showing a slight growth over the objective set in the previous strategic document. The challenging goal the Group has set for itself is to reach over 3 million customers by the end of the period covered by the Plan, confirming its place among the sector’s leaders with a more substantial and loyal customer base, thanks to positive results in customer experience and new solutions geared towards savings and respect for the environment. In addition to internal growth in the customer base and the hypothesis of additional development along the Adriatic coast, the Group can rely on an excellent result that saw it confirmed, in recent months, as a leading player in last resort services in the energy market. One significant opportunity to reinforce the customer base will come from the end of the protected market (i.e. maggior tutela), which according to Hera’s estimates will lead it to gain at least 500,000 customers. Commercial development will depend on offers bringing added value, from those in support of smart homes (smart thermostats, remote sensors, etc.) to combinations of insurance and maintenance products, or again services involving energy efficiency or electric mobility. The country’s objectives in energy efficiency themselves provide an opportunity to develop the Group’s energy services through its specialised companies, able to offer solutions tailored for public administrations, apartment buildings and industrial clients. The Group will furthermore give increasing attention to customer experience, turning to process and payment digitalisation to meet the needs of customers who are ever more “online”, as well as adopting efficient systems for data management and analysis, to guarantee an excellent service and accelerate the “time to market”. Applying behavioural science, combined with precise interventions (such as reporting consumption in bills), will lastly allow an increasingly efficient use of energy to be promoted. Tomaso Tommasi di Vignano, Hera Executive Chairman The growth we have foreseen over the duration of the Plan is entirely visible, considering our track record. Our investment program is significant, increasing by 260 million, and the rise in cash generation will allow the Net debt/Ebitda ratio to be maintained at 2.9x, as had been predicted for the end of the period covered by the previous plan. We have confirmed our strong attention towards creating value for shareholders and a transparent dividend payment policy, year by year. This solidity and visibility is also guaranteed by the prospects offered by the external scenario (M&As, protected services and gas tenders) and taken into account in the Plan, based on a conservative estimate which consists in maintaining current market shares. Stefano Venier, Hera CEO In a five-year period that will see a remarkable expansion in our plant facilities, a new phase is taking shape, with important events on the horizon in almost all our businesses. The Plan’s premise lies in affirming our leadership in services for our reference area and continuing in technological evolution, in order to persist in increasing regeneration in management models for activities and their resilience. Our risk/return tradeoff will improve thanks to a significant development in regulated activities, complemented by trends in free market activities. The Business Plan has been built around globally relevant issues, since we are perfectly aware of our role in enabling circular smart cities, but also the need to adequately respond to the new needs of our customers and the local ecosystem, brought about by digital evolution and environmental challenges. Business Plan to 2022 2019-01-10 870x320.1547131114 (1).jpg Based on solid forecast for 2018, which significantly exceeded the goal of one billion in Ebitda, this new strategic plan confirms the path of uninterrupted growth achieved by the Group since 2002. The focus on investments and innovation will guarantee a place at the forefront of its evolving services, further improving resilience and rising to the challenges of the sector. Efficiency and increased attention towards investment allocation, including a higher level of sustainability, will favour internal growth, with financial solidity fuelling external growth. /-/hera-group-approves-business-plan-to-2022-1 http://investornews.gruppohera.it/en/?n=58 /group_eng/investor-relations/hera-strategy/ Press release Newsletter: business plan to 2022 Strategy and Business Plan centrata Hera Group - Business Plan to 2022

Cesena_110 The Hera Group, one of the largest Italian multi-utilities, has reached an agreement with Amadori, a leading group in the national agri-food sector and a specialist in the poultry sector, to build a cogeneration plant that will provide clean energy for the Cesena production site. An energy efficiency measure that will provide about 15% of primary energy savings with a high overall efficiency in terms of energy conversion, at 70%. Amadori signed the agreement with Hera Servizi Energia, Hera Group's energy service company of reference for the industrial sector, which over the years has built cogeneration production plants using the best technologies available on the market, so as to achieve not only noteworthy energy and economic savings but also major environmental benefits. This new plant, designed to serve Mangimificio Amadori, will be operated striving for optimization and efficiency, and will be supported by 24/7 remote management and control, and emergency services. The plant'score is a 900 kWe cogeneration plant that, thanks to special connections, will also be able to feed - as steam - several thermal users: to transform and process the feed, and to heat offices. This technological complex designed to serve Mangimificio Amadori, will supply electricity and thermal energy in the form of steam and hot water. Hera Servizi Energia will build, operate and maintain the plant, investing a total of over one million euro, under an agreement lasting10 years (or 60,000 hours of total operation of the cogenerator). With this plant Amadori will thus be able to improve the efficiency of its production cycles and positively impact the environment, in line - moreover - with Hera Group's long-standing focus on energy efficiency, which for some years now has been geared towards developing its businesses and those of its partners in line with the ambitious roadmap laid down by the UN's 2030 Agenda. When fully operational the energy complex will be able to provide excellent environmental performance, avoiding each year the consumption of about 400 toe and the emission of 900 tonnes of CO2, equal to the absorption capability of one year of a 150 hectare forest. An environmental benefit that can also be likened to more than 600 fewer diesel cars on the roads. Cesena_870 20181217_HSE_e_Amadori_final_rev_def.1564384756.pdf 2019-07-29 cesena_870x320.1545124289.1564384755.png The increase in the efficiency and sustainability of the production cycles will avoid the emission of about 900 tonnes of CO2 every year, the same "absorbing" power a forest of over 150 hectares has in the same period.The savings of about 15% in terms of primary energy is also significant, achieved thanks to high standards of overall performance of the plant Read more Cesena_110

Bio-On-GH_110 Bio-on, a leader in the high quality bioplastic sector, and Hera Group, one of Italy's largest multi-utility providers, have reached an agreement to take 90% and 10% shares respectively (with the possibility of Hera increasing its share to 49.9%) in LUX-ON, the new company founded by Bio-on aiming to revolutionise the production of PHAs biopolymers using CO₂ captured from the atmosphere and producing energy without using fossil fuels. The new technology developed by Bio-on envisages using carbon dioxide as a zero cost "raw material", in addition to those already used to produce Bio-on bioplastic: sugar beet and sugar cane molasses, fruit and potato waste, carbohydrates, glycerol and waste frying oil. Using CO₂ will also help reduce the amount of carbon dioxide in the atmosphere. The laboratories and first plant of the new Lux-on project will be built by the end of 2019 close to the Bio-on Plants industrial facility at Castel San Pietro Terme (Bologna). It will be designed entirely by Bio-on technicians in collaboration with Hera, with carbon capture plants and a production facility using renewable solar energy. The development of the technology will be aided by the fact that many of the principles and equipment used in the standard technology can also be used in Lux-on's new production systems. This is why the development and pre-industrial phase will be much faster than usual. The plant will occupy an area of 1,500 m2, 600 m2 of which is covered, and will have a flexible production capacity that is rapidly expandable. The electric energy used in Lux-on's innovative production process will be produced by photovoltaic systems which, aside from directly powering production, will also provide storable energy for nocturnal power (24/7 production). For energy storage, partnerships will be entered into with international experts in hydrogen (H) technology. Hydrogen, a nonpolluting gas, will be produced from solar energy, stored and then converted to electric energy to power the plant when the solar panels are not running, i.e. at night or when light levels are poor. Bio-On-GH_870 CS_69_BIO_ON_10_12_2018_final_E.1563287329.pdf 2019-07-16 Bio_On_GH_870.1563287261.png The Newco created by Bio-on will be owned by Hera Group Read more Bio-On-GH_110

Chioggia_110 To extensively reclaim Chioggia's port area and renovate the area to bring it back to life. This is the commitment of a temporary association of companies (ATI) led by Herambiente, a member of the Hera Group and the foremost Italian waste treatment operator, which was awarded a contract to renovate the strategic areas linked to this important seaport. The tender, worth 28.5 million euro, was launched by A.S.Po Azienda Speciale del Porto di Chioggia, owned by the Venice-Rovigo Chamber of Commerce. CGX Costruzioni Generali Xodo Srl, Idea Srl, and Rossi Renzo Costruzioni Srl, all companies in the Veneto region, are technical partners of the temporary association of companies. The contract, which kicks off the work, was signed this morning by Damaso Zanardo, president of A.S.Po, and Andrea Ramonda, the CEO of Herambiente. In particular, the work will begin in 2019 and lead to an overall renovation of some areas of the river-maritime terminal in Val da Rio di Chioggia. On the one hand, the operation will reclaim a 6-hectare area, used as a landfill for solid waste produced in the municipality of Chioggia from 1961 to 1984. This is a strategic intervention for the area because the contract, in line with the circular economy principles that the Hera Group is pursuing on several fronts, also involves recovering inert material amounting to 80% of the total waste, which will be used to build some of the docks in the port, thus increasing the operation's overall sustainability. By doing so, Herambiente will make available to this area all of its know-how in the field of land reclamation, a field in which the Hera Group company has consolidated experience and very high quality and safety standards. Its research, analyses, and projects enable the best possible definition of the scope of each measure. Herambiente's reclamation department, from this point of view, offers an integrated service that at every stage of the process ensures full respect for the environment, for current regulations and, indeed, for the fundamental circular economy principles. Chioggia_870 20181207_Herambiente_awarded_the_reclamation_of_the_port_of_Chioggia_def.1564384226.pdf 2019-07-29 chioggia_870.1564384158.jpg The tender, worth 28.5 million euro, was won by a temporary consortium led by Hera Group, the leading Italian waste treatment operator. The work will begin in 2019 and will lead to an overall renovation of the port area, with new docks using inert materials coming from the reclamation of land previously used as landfill Read more Hera

Oscar_bilancio_2018_110 The Hera Group has won the 2018 "Oscar di Bilancio" award. The 54th edition of the event promoted by Ferpi (Italian Public Relations Federation) to reward virtuous companies for their reporting activities, awarded Hera the prize in the category of "Medium-sized companies listed in the stock market segments FTSE MIB and FTSE ITALIA MID CAP" and, for the first time, a special mention in the new "Innovation in reporting" category. The ceremony was held in Milan, in the main auditorium of the Bocconi University, attended by its Rector Gianmario Verona. One of the strengths that convinced the Oscar's external commission to award Hera among the medium-sized listed companies was, in particular, the overall quality of its financial communication as a whole, both concerning the economic aspects of the content and its social dimension. The jury's motivation was, specifically, "strategy, well-defined objectives supported by the actions, full coverage of sustainability issues, excellent communication impact. Completeness of the statement both for its economic/financial part and for the other topics it covered. The data was also accompanied by an effective 'narrative'". The ability to measure shared value, as gross operating margin from business activities that respond to the drivers of the UN Agenda, as well as the innovative thematic sustainability reports that supplement the annual report were also particularly appreciated, as initiatives that earned Hera its ranking among the most avant-garde Italian companies, obtaining special mention in the new category. Oscar_bilancio_2018_870 20181129_Oscar_di_bilancio_rev_def.1564381357.pdf 2019-07-29 Oscar_bilancio_2018_870.1564381356.png The multi-utility wins the prize for the "Medium-sized listed companies" and a special mention for "Innovation in reporting". Award-winning strategy, completeness and effective storytelling in its reporting activities Read more Oscar_bilancio_2018_110

Eni-GH_110 Eni and Hera, companies long engaged in promoting a circular economy model through the continuous technological and organizational development of their respective businesses, have today signed a partnership aimed at transforming used vegetable oil into biofuel to fuel the Hera waste collection company vehicles. The agreement provides that exhausted vegetable oils for domestic use, such as those for frying, recovered by Hera through approximately 400 road containers and in about 120 collection centers, will be sent to the Eni biorefinery in Venice, in Porto Marghera, the world's first example of conversion of an oil refinery into a biorefinery, which will transform it into green diesel, a completely renewable product which constitutes 15% of Enidiesel +. The biofuel will feed the Hera company vehicles for the collection of urban waste. In the experimental phase Enidiesel + will be used by some thirty large vehicles, in order to optimize the environmental benefit, in the Modena area. The agreement signed today extends the virtuous circle already initiated by Eni with the multi-utility companies of Turin, Venice and Rome and whose tests have already demonstrated important benefits in terms of air quality, economic and industrial. In fact, compared to traditional diesel, Enidiesel + has a renewable component that reduces polluting emissions by up to 40%, saves fuel consumption by around 4% and reduces engine maintenance costs. The same technical improvement parameters deriving from the use of the biofuel will be subject to joint monitoring by the two companies, in collaboration with the CNR Institute of Motors. To further support the initiative, Hera has chosen to enhance the collection of vegetable oils by introducing 300 new dedicated containers in the areas served. In 2017 alone, 800 tons of waste vegetable oils were collected, recovered and then processed to be valued as lubricants or through energy recovery. An increasingly widespread service which, by encouraging correct recovery, also aims to prevent behavior, such as the spillage of oils in the sink, which is harmful to domestic pipes and water purification plants. Eni-GH_870 20181123_Eni_and_Hera_together_for_the_circular_economy.1563283220.pdf 2019-07-16 Eni_GH_870.1563283219.png The partnership will make it possible to transform the Eni bio-refinery in Venice into oils collected by Hera (800 tons in 2017) in Eni green diesel. Relevant environmental benefits with a reduction of up to 40% of polluting emissions Read more Eni-GH_110

Hera is still on the podium for web communication Hera Group manages to be very concrete in the presentation of its sustainability strategy and how it contributes to develop a sustainable business: in fact, it highlights commitments, objectives, data, projects and hard data. Download Whitepaper Italy listed 2018 Key information on webranking's survey 2018-11-12 Further informations infografica_webranking_eng.1542097295.png In the Webranking 2018 report on Italian digital communication conducted by Lundquist together with Comprend, the Hera Group comes in second, standing out for the presentation of its strategy, its business areas and sustainability objectives. Hera is still on the podium for web communication

Hera BoD approves 3Q 2018 results Financial highlights Revenues at € 4,348.4 million (+8.0%) Ebitda at € 748.6 million (+3.3%) Net profits for Shareholders at € 208.7 million (+14.1%) Net debt at € 2,642.0 million Operating highlights Good contribution to growth coming from all businesses and gas in particular Good results achieved through internal growth Solid customer base in Energy (approximately 2.5 million), rising by approximately 100,000 over the first three quarters of 2017 Sorted waste increases to an average of 61.4% across all areas served Today, the Hera Group's Board of Directors unanimously approved the consolidated financial results at30 September 2018, which confirm the positive trend in operating results seen in previous quarters and show further improvement in financial and fiscal management. These results once again reward the Group's balanced and agile way of operating, following a business model that has always combined the strategic levers of internal and external growth. In addition to remarkable internal growth, partially deriving from higher efficiencies, developments in market shares and an increase in volumes sold in the energy sector both contributed to the accounts for the first three quarters of 2018. Revenues rise to € 4,348.4 million In the first nine months of 2018, revenues amounted to € 4,348.4 million, up 8% over the € 4,027.8 million seen at 30 September 2017, with a contribution coming from all business areas. In particular, trends in gas and electricity trading and sales benefitted from an increase in volumes. Ebitda increases to € 748.6 million The Group's consolidated Ebitda at 30 September 2018 grew from € 724.7 to € 748.6 million (+3.3%). This result is due to the good performance seen in all main activities, and the gas sector in particular, whose contribution included rising earnings derived from sales and trading. Positive results were also seen in the integrated water cycle and waste management areas. Ebit and pre-tax profits grow, owing in part to financial management Ebit grew to € 376.5 million, up compared to the € 357.9 seen at 30 September 2017 (+5.2%), while pre-tax profits rose to € 311.0 million, as against the € 283.5 seen at the same date in 2017 (+9.7%). This was due to financial management, which in the first nine months of 2018 improved by € 8.9 million compared to 30 September 2017, settling at € 65.5 million, with aperformance partly made possible by efficiency in rates and higher financial income for commercial activities. Net profits for Shareholders increase to € 208.7 million (+14.1%) Profits pertaining to Group Shareholders rose to € 208.7 million, compared to the € 182.9 million recorded at 30 September 2017 (+14.1%), for reasons including a tax rate coming to 30.1%, an improvement over the 32% seen in the same period of the previous year. The considerable investments made by the Group in Utility 4.0 projects allowed fiscal optimisation opportunities to be grasped, thanks to incentives for large and very large amortisations. Approximately € 300 million in investments, and an essentially stable financial position The Group's operating investments at 30 September 2018, including capital grants, amounted to € 296.6 million, up 7.0%over the same period in 2017 and in line with the content of the Business plan. Operating investments mainly concerned work done on plants, networks and infrastructures, in addition to regulatory upgrading, above all concerning gas distribution with a large-scale metre substitution, and the purification and sewerage activities. Net debt came to € 2,642.0 million at 30 September 2018, essentially stable compared to the € 2,610.0 million recorded after the first nine months of 2017, considering the dividends paid. Gas Ebitda for the gas business, which includes services in natural gas distribution and sales, district heating and heat management, reached € 222.2 million at 30 September 2018, up 10.3% over the same period one year earlier thanks to commercial development, higher intermediated volumes and higher revenues for distribution services. The number of gas customers came to 1.413 million in the first nine months of 2018, rising by 1.6% over the same period in 2017. This growth was caused by an expansion in market share and by the companies Blu Ranton and Verducci Servizi becoming part of the Group's consolidated scope. The gas business accounted for 29.7% of Group Ebitda. Water cycle Ebitda for the integrated water cycle, which includes aqueduct, purification and sewerage services, increased by 4.4%, going from € 178.3 million in September 2017 to € 186.2 million at 30 September 2018, thanks to higher revenues from dispensing, higher recognised costs and the efficiencies reached. The integrated water cycle accounted for 24.9% of Group Ebitda. Waste management The results for the waste management, which includes services in waste collection, treatment, recovery and disposal, also showed increasing figures, with Ebitda going from € 181.4 million at 30 September 2017 to € 188.2 million at the same date in 2018 (+3.7%). This trend was largely caused by changes in the prices set for waste treatment, along with increased results from Aliplast. Further growth was also seen in sorted waste, which went from 56.6% during the same period in 2017 to 61.4% at 30 September 2018, thanks to the numerous services offered. In the month of September, moreover, the Sant'Agata Bolognese biomethane production plant was launched, fully respecting the timing set out in the Business plan. The waste management area accounted for 25.1% of Group Ebitda. Electricity Ebitda for the electricity business, which includes services in electricity generation, distribution and sales, went from € 147.4 million in the first nine months of 2017 to € 133.2 million at 30 September 2018. Sales and trading results benefitted from a higher amount of intermediated volumes (+15.5%) and the enlarged customer base (+7.8%, reaching 1.039 million), thanks to increased market shares and a wider scope of operations. This result partially offset the effect coming from a few suspended generation plants, which became fully functional once again in the third quarter. The electricity business accounted for 17.8% of Group Ebitda The manager responsible for drafting the company's accounting statements, Luca Moroni, declares, pursuant to article 154-bis paragraph 2 of the TUF, that the information contained in the present press release corresponds to the documentation available and to the account books and entries. The third-quarter management report and related materials are available to the public at Company Headquarters and on the website www.gruppohera.it. Unaudited extracts from the Intermediate Management Report at 30 September 2017 are attached. PROFIT & LOSS (M€) 30/09/2018 INC% 30/09/2017 INC.% CH. CH. % Sales 4,348.4 4,027.8 +320.6 +8.0% Other operating revenues 321.1 7.4% 327.3 8.1% -6.2 -1.9% Raw material (1,966.6) -45.2% (1,776.4) -44.1% +190.2 +10.7% Services costs (1,529.2) -35.2% (1,428.6) -35.5% +100.6 +7.0% Other operating expenses (42.9) -1.0% (45.3) -1.1% -2.4 -5.3% Personnel costs (410.1) -9.4% (409.1) -10.2% +1.0 +0.2% Capitalisations 28.0 0.6% 29.1 0.7% -1.1 -3.8% Ebitda 748.6 17.2% 724.7 18.0% +23.9 +3.3% Depreciation and provisions (372.2) -8.6% (366.8) -9.1% +5.4 +1.5% Ebit 376.5 8.7% 357.9 8.9% +18.6 +5.2% Financial inc./(exp.) (65.5) -1.5% (74.4) -1.8% -8.9 -12.0% Pre tax profit 311.0 7.2% 283.5 7.0% +27.5 +9.7% Tax (95.1) -2.2% (90.7) -2.3% +4.4 +4.9% Net profit before special items 215.9 5.0% 192.8 4.8% +23.1 +12.0% Special items 4.8 0.1% - 0.0% +4.8 +100.0% Net profit 220.7 5.1% 192.8 4.8% +27.9 +14.5% Attributable to: Shareholders of the Parent Company 208.7 4.8% 182.9 4.5% +25.8 +14.1% Minority shareholders 11.9 0.3% 9.9 0.2% +2.1 +20.9% BALANCE SHEET (M€) 30/09/2018 INC.% 31/12/2017 INC.% CH. CH.% Net fixed assets 5,837.0 107.2% 5,780.6 110.5% +56.4 +1.0% Working capital 186.4 3.4% 23.2 0.4% +163.2 +703.4% (Provisions) (578.5) (10.6%) (574.8) (10.9%) (3.7) +0.6% Net invested capital 5,444.9 100.0% 5,229.0 100.0% +215.9 +4.1% Net equity 2,802.9 51.5% 2,706.0 51.7% +96.9 +3.6% Long term net financial debt 2,841.9 52.2% 2,735.4 52.4% +106.5 +3.9% Short term net financial debt (199.9) (3.7%) (212.4) (4.1%) +12.5 (5.9%) Net financial debts 2,642.0 48.5% 2,523.0 48.3% +119.0 +4.7% Net invested capital 5,444.9 100.0% 5,229.0 100.0% +215.9 +4.1% 9M 2018 2018-11-08 For further infotmations 9M 2018 Consolidated 3Q results at 30 September confirm the growth in operating and financial indicators already seen in the first half of the year, with positive contributions coming from the different Group's business areas, gas and waste management in particular. /-/hera-bod-approves-3q-2018-results-1?inheritRedirect=true /documents/1514726/4667212/GruppoHera_Consolidated_ThirdQuarterReport30September2018_eng.1541672459.pdf/4efd185a-8a09-4b8c-a66a-ef1134973617?t=1608550214672 http://investornews.gruppohera.it/en/?n=57 Press release Financial report as at 30/09/2018 Newsletter as at 30/09/2018 centrata Hera BoD approves 3Q 2018 results

impianto_biometano_110 How can energy amounting to 6 thousand tonnes of oil equivalent be obtained each year, without consuming a single drop of crude oil and thus avoiding 14,600 tonnes of CO2 emissions? As of today, the answer can be found in Sant'Agata Bolognese, just outside the capital city of the Emilia-Romagna region, where the Hera Group has inaugurated a major plant producing biomethane from the organic portion of waste, designed and created on the basis of the most advanced precedents seen in this sector internationally. The opening ceremony - that saw the participation of the region's alderwoman Paola Gazzolo, Hera's top management and the main local and sector institutions - ushered in a new phase in the decarbonisation of energy production, giving further impetus to the circular economy towards which the region has been moving for some time now. Thanks to this plant, indeed, sorted organic waste coming from our houses will serve the community under the form of gas. Once injected into the network, this gas will fuel public and private transportation vehicles running on natural gas, aiding a sector that is increasingly exposed to the issue of carbon dioxide emission. In line with policies adopted by the Region, the National Energy Strategy and the European Union, the Sant'Agata Bolognese plant will now begin extracting value from this 37 million euro investment. The plant furthermore represents an enrichment of the range of plants belonging to Herambiente, the national leader in waste treatment that has been active for years in biogas production for renewable electricity. A 100% renewable combustible from organic waste In terms of volume, the plant is capable of treating 100 thousand tonnes of sorted organic waste each year, in addition to 35 thousand tonnes resulting from plant clipping and pruning. Thanks to the implementation of new and improved technologies in anaerobic digestion and upgrading, in particular, these resources will allow 7.5 million cubic metres of biomethane, a 100% renewable combustible, to be obtained along with 20 thousand tonnes of compost, a bio-fertiliser mainly intended for agriculture. An architectural project conceived to bring the plant and the area served into harmony, minimising its environmental impact With no combustion plants whatsoever, the plant is located within a pre-existing composting site, with no additional land use required for its construction. Planned with an eye to minimising its acoustic and odoriferous impact, the structure furthermore meets architectonic criteria aimed at harmonising it with the surrounding area. Even its outer covering, which will be added over the next few months, will be dense with themes and motifs that relay the sense of what goes on inside: in particular, images will portray vegetation blossoming out of an arid and cracked ground, calling to mind the transformations undergone by the organic product within the plant. "We have been working with biomethane for some time now", comments Tomaso Tommasi di Vignano, Executive Chairman of the Hera Group. "Today's inauguration, in particular, is a crowning achievement that represents years of work. Our community will now be served by a plant born out of research, studies and European tenders that allowed us to choose the best of what is currently available on the market. What's more, renewable energies must necessarily become part of industrialisation processes capable of expressing their potential on a large scale. In this sense the Sant'Agata plant is an excellent example that can be replicated elsewhere, above all in light of a regulatory framework that is finally favourable and provides fundamental added value for sector development." "The ribbon has been cut in front of a highly innovative construction project that moves towards an energy transition, pointing in the direction of a low carbon economy: biomethane presents a significant opportunity for reducing the use of fossil fuels and lessening our region's energy footprint, with an eye to a circular economy", states the alderwoman of the Emilia-Romagna Region, Paola Gazzolo. "Renewable energy is a fundamental part of the green turn supported by the Emilia-Romagna government with the policies implemented since the beginning of its mandate. This change of pace is intended to offset the effects of climate change as currently seen and reduce the use of raw materials, promoting recovery and reuse. Precisely because these products and materials are available in limited quantities, we must save them and preserve their value: the project realised by Hera in Sant'Agata is headed in exactly this direction". Pictures of the inauguration of the S. Agata plant Watch the photogallery null null null null null null null null null null null null null Press release Biomethane, the road to green energy now passes through Sant’Agata Bolognese 1._Foto_25_10_18_09_09_40.1540463296.jpg 2._Foto_25_10_18_09_12_26.1540463297.jpg 3._Foto_25_10_18_09_16_07.1540463299.jpg 4._Foto_25_10_18_09_25_03.1540463300.jpg 5._Foto_25_10_18_09_36_08.1540463301.jpg 6._Foto_25_10_18_09_44_46.1540463302.jpg 7._Foto_25_10_18_10_25_35.1540463303.jpg 8._Foto_25_10_18_10_31_05.1540463304.jpg 9._Foto_25_10_18_10_31_09.1540463305.jpg 10._Foto_25_10_18_10_47_16.1540463306.jpg 11._Foto_25_10_18_10_50_02.1540463307.jpg 12._Foto_25_10_18_10_50_18.1540463308.jpg 13._Foto_25_10_18_10_51_06.1540463309.jpg 2019-05-27 Read more null null null null null null null null null null null null null null null null null null null null null null null null null null Inaugurated today, just outside Bologna, the first biomethane-from-organic-waste plant created by a multi-utility. Investments totalling 37 million euro have thus given new impetus to the future of renewable energies on an industrial scale, with 7.5 million cubic metres of biomethane and 20 thousand tonnes of compost sustainably fuelling, each year, a range of sectors including motor vehicle transport and agriculture http://ha.gruppohera.it/plants/composting/biometano_project/082.html http://ha.gruppohera.it/plants/main_plants/082.html From waste to biomethane, a circular revolution Herambiente's Main Plants impianto_biometano_110

in_good_waters_110 "In buone acque" turns 10 years old It's the tenth birthday of the "In Good Waters" report that Hera Group prepares to provide detailed and easy-to-read information on the water cycle it manages in 231 municipalities of Emilia-Romagna, Marche, and Triveneto. As the second-largest operator in Italy by volume of water supplied (303 million m3 per year), Hera Group serves over 3.6 million citizens. This report is for them, the everyday users of the water resources the multi-utility manages, to fully inform them on the quality of the water coming out of their taps; a quality that is ensured by strict monitoring. This is proven by the number of analyses carried out last year throughout the company's entire service area: a total of over a million, more than 2,800 per day, on average. The analyses, 38% of which were carried out in the Group's laboratories, also concerned the presence of pesticides and non-regulated aspects, such as emerging pollutants and asbestos fibres. Of the checks carried out, 99.9% yielded results compliant with regulatory limits, confirming the safety of the water Hera distributes. Bologna's water: 134.000 quality assurance analyses In 2017, over a million Bologna residents used a water resource the quality of which was certified by more than 134,000 analyses carried out in the laboratories of the Hera Group and the ASL (local public health authority). The possibility of using tap water on a daily basis depends on the plant resources used by the company to distribute the service: in the Bologna area, tap water comes from 660 sources and travels through more than 9,000 km of aqueduct network, into which 108.4 million m3 of water are fed every year. This ensures a constant and adequate supply. Hera: water-related investments 32% above the Italian average Not only aqueduct but also purification and sewerage; managing the water service means taking care of the entire water cycle, meaning not only its distribution in homes but also the sewerage service and wastewater treatment. This is why the Hera Group has always focused most of its investments in the water sector: in 2017 they exceeded 156 million euro, compared to 130 million euro the previous year (+19%). More specifically, it invested 41% in the mains water network, 32% in the sewer system, and 27% in water treatment. Compared to a national average of 37 euro invested per inhabitant, in the area served by the Hera Group investments in 2017 were about 49 euro per inhabitant. The magnitude of this commitment has allowed Hera to work on more than 35,000 km of its aqueduct network, about 18,600 km of sewerage, 469 water treatment plants and 422 production and drinking water purification plants. All this against a cost of just two euro per thousand litres of tap water, about half of what consumers pay in other European nations. in_good_waters_870 20181003_in_good_waters_def.1564391876.pdf 2019-07-29 in_good_waters_870.1564383254.png Tenth annual appointment with the Group's report on an essential service. The value of the multi-utility's investments in the sector continues to increase: over 156 million euro in 2017 compared to 130 million last year. Excellent quality of the resource supplied, guaranteed by over a million analyses, of which more than 134,000 in the Bologna region alone Read more in_good_waters_110

Infografica_biometano_110 There are three ingredients: circular economy, renewable energy, and gas. But the outcome their combination has just one name, it is called biomethane and is the new way to protect the environment and economic growth. Its potential seems extremely promising. The regulatory scenario is improving, and this is exactly why a major conference will be held on Friday, 21 September in Bologna to enable companies, institutions and trade associations to meet and take stock of the situation. It will be held at the Royal Hotel Carlton, hosted by the Hera Group with the collaboration of the Italian Gas Committee. Italian and international companies will participate, ready to share their experience and research, also in the light of the prospects and opportunities biomethane is opening up on several fronts: from treating organic waste to generating and distributing renewable energy, through the revival of sustainable mobility and the production of natural fertilizers that could give revitalize the entire agro-industrial sector. In addition to the Executive Chairman of the Hera Group Tomaso Tommasi di Vignano, who will inaugurate the conference, the main speakers will include Alessandro Bratti, General Manager of ISPRA, and Giordano Colarullo, General Manager of Utilitalia, who will present the activities of the Biomethane Observatory. The spotlights will also focus on many technical issues related to the production and use of biomethane, with in-depth studies on chemical and sensory research, on the characterization of biomethane, on its monitoring, on the management of the aspects most directly related to distribution, as well as on the matter of odorization, for which Hera and Italgas will present a study. Infografica_biometano_870 20180918_Biometano_a_Bologna_gli_stati_generali_per_la_green_economy_del..._rev_def.1564380704.pdf 2019-07-29 infografica_biometano_1498141070.1535647018.1537263440.1564380703.png Attended by Italian and foreign companies and prominent figures, including the general director of ISPRA Alessandro Bratti, the conference held on Friday, 21 September and organized by Hera in collaboration with the Italian Gas Committee will take stock of the development of biomethane, the progress of its regulatory framework and future prospects http://ha.gruppohera.it/plants/composting/biometano_project/082.html Hera Biomethane Project Read more Infografica_biometano_110