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thomson reuters_110 The Hera Group has been confirmed as one of the most interesting companies, in Italy and worldwide, for investors who sustain all those committed to promoting diversity and inclusion. The results, which stem directly from the integration of these policies within the Group's strategy, have been approved by the 2018 edition of Thomson Reuters Diversity and Inclusion Index, whose candidate universe is made up of over 7,000 publicly traded companies worldwide. Hera, with a score of 73.5 points, proved to be the 2nd company in Italy and the 22nd across the world of this international ranking. Moreover, its position within its own sector was outstanding, coming in first worldwide among multi-utilities. The "Diversity and Inclusion Index" is an indicator, conceived and realised by Thomson Reuters, an international giant in financial information, that analyses companies' performances based on a range of factors, grouped into four areas: diversity, inclusion, people development and news & controversies. The performances of the Hera Group were therefore highly positive: giving concrete form to the strategic relevance of its diversity and inclusion policies, this multi-utility is indeed continuing its work in developing internal and personalised career paths, an approach that allowed the company to reach an amount of women in roles with responsibility coming to 31.3% in 2017. Rising overall, the percentage of female personnel furthermore ranked above the sector average (24.3%, as compared to 15.9%). This data is accompanied by a percentage of employees with disabilities that reaches 4.3% of the company's total workforce and also includes roles in management. From all these points of view, the contribution coming from training is significant, with particularly important initiatives such as leadership and smart working courses favouring the development of human resources, based on factors including the diverse characteristics of each resource (gender, age, training, ability, inclination and ability). Further positive effects no doubt derived from the corporate welfare plan, which sustains employees and their families in many different forms. Not by chance, encouraging results continue to emerge from this enquiry into the Group's corporate milieu, with further confirmation coming from a complete lack of controversies involving diversity and inclusion. Lastly, many initiatives make plurality management concrete, including agreements with daycare centres, summer camps, a range of programmes aimed at creating a positive work-life balance and the arrangements made for leave time, available not only for mums and dads but also for those who provide assistance to relatives or the elderly. The Hera Group's commitment to policies promoting inclusion and diversity, in any case, has a long history. It was first consolidated in 2009, when the Charter for equal opportunity and equality on the workplace was signed: with this document the company engaged, alongside other private and public bodies, in the struggle against discrimination on the workplace. The introduction in 2011 of a Diversity Manager, whose task involves giving even greater emphasis to developing policies aimed at inclusion and the valorisation of diversity, was also fundamental. Lastly, for some time now Hera has adhered to the fifth of the United Nation's objectives for sustainable development, specifically dedicated to gender equality. thomson reuters_870 20180906_Hera_ranked_once_again_in_top_25_of_the_Thomson_Reuters_Diversity_and_Inclusion_Index.1536159314.pdf 2018-09-05 Read more Logo_diversity_and_inclusion_870png.1536149260.png Conceived to provide orientation for investors showing interest towards companies committed to promoting diversity, inclusion and people development, this index evaluates over 7,000 of the world's publically listed companies and this year, once again, includes the Group among the most outstanding firms. With 73.5 points overall, Hera indeed comes in 2nd in Italy and 22nd worldwide. And, among multi-utilities, it ranks first in the world thomson reuters_110

hera-salesforce_110 The message from overseas arrives loud and clear: focusing on innovation and digitalisation means meeting customers' needs. This is evidenced by the new agreement signed by Hera Group and Salesforce, the global leader in CRM. Herambiente, national leader and European benchmark in the waste treatment industry, selects Salesforce Sales Cloud to support its sales force with advanced sales applications, customer support, marketing and community management support, and other important management tools based on artificial intelligence and data analytics. The agreement just signed, in particular, aims to accompany the development and reinforcement of a big industrial reality such as Herambiente, providing increasingly innovative tools to better manage the relationship with its customers, who can rely on integrated services for taking on every type of waste. Herambiente treats 6.3 million tons of waste every year and nowadays is facing a growth path that new CRM applications can direct towards further efficiency and functionality objectives, by optimizing and harmonizing the processes of its various companies. Moreover, the agreement includes other innovative tools that will allow Area Managers of Hera Group to manage relations with public administrations in a more flexible and collaborative way, in the interest of local communities and in line with the orientation of the Italian multiutility, historically oriented to team up with local territories. Hera Group and Salesforce also agree on a common business concept, oriented for both companies to creating shared value. The two companies are committed to promoting renewable energy use: Hera electricity consumption is 100% offset by renewable sources which are equally used by Salesforce for two of its office buildings at global headquarters in San Francisco. All this means lower carbon emissions in support of the fight against climate change, a cause which both companies are particularly active and involved. Both Hera Group and Salesforce are members of CDP, formerly the Carbon Disclosure Project, non-profit organization that offers companies, countries, regions and cities, a system to measure, detect, manage and share information on their environmental impact at global level, with the aim of encouraging all parties to undertake sustainable development. hera-salesforce_870 20180904_press_release.1536059516.pdf 2018-09-04 Read more hera_salesforce_870.1536059515.png The Italian multiutility company signed an agreement with Salesforce aimed to ensure benefits not only to Herambiente's customers, thanks to new tools for relations with the company, but also to local area and communities, providing dedicated solutions to improve communications with public administrations. Positive effects expected also for the environment hera-salesforce_110

Hera BoD approves 1H2018 results Financial highlights Revenues at € 2,996.7 million (+7.7%) Ebitda at € 523.6 million (+3.5%) Ebit at € 273.6 million (+4.3%) Net profits for Shareholders at € 158.1 million (+12.1%) Net debt at € 2,625.0 million Operating highlights Good contribution to growth coming from gas and waste management, respectively due to volumes sold and positive trends in market prices Management characterised by the results of internal growth Solid customer base in energy sectors (roughly 2.5 million), up by 110,000 over 1H2017 Sorted waste increases to anaverage of 60% across all areas served Today, the Hera Group’s Board of Directors unanimously approved the financial results for the first half-year, which confirm the ongoing positive trend and show all main indicators rising. These results once again reward the Group’s balanced and agile way of operating, following a business model that has always combined the strategic levers of internal growth and external development. In addition to remarkable internal growth, partially deriving from higher efficiencies, developments in market shares and positive trends in tariffs and prices benefitted the accounts for the first half of 2018. Revenues amount to almost € 3 billion In the first half of 2018, revenues reached € 2,966.7 million, up € 212.7 million (+7.7%) over the € 2,754.0 million seen in the same period of 2017. The factors most responsible for this result include a higher amount of trading along with increased revenues from gas and electricity sales and waste management. Ebitda rises to € 523.6 million Ebitda settled at € 523.6 million, showing growth amounting to € 17.7 million (+3.5%) over June 2017. This increase is due to the good performances seen in all the Group’s main activities, and the gas area in particular thanks to higher volumes sold and income for sales and trading. Positive results also came from waste management and the integrated water cycle. Financial management among the factors responsible for an 8.4% increase in pre-tax profits Ebit rose to € 273.6 million, up 4.3% over the € 262.2 seen in the same period of 2017. Financial management also improved, settling at € 39.2 million, € 6.7 million less than the same period in 2017, a performance made possible by efficiency in rates and higher financial income for commercial activities. In light of this situation, pre-tax profits increased by 8.4%, going from € 216.3 million at 30 June 2017 to € 234.4 million at the same date in 2018. Sharp increase in net profits for Shareholders, reaching € 158.1 million (+12.1%) Profits pertaining to Group Shareholders at 30 June 2018 rose to € 158.1 million, +12.1% compared to the € 141.0 million seen in the first half of 2017. The elements underlying this result include an improvement in the tax rate, which went from 31.6% to 30.1%, thanks to the Group’s continuous commitment to grasping the tax opportunities offered by large and very large amortisations related to major investments made in introducing Utility 4.0, in addition to tax credits for research and development and the final balance on previously acquired benefits, as well as € 4.8 million in capital gains from divestments. Approximately € 184 million in investments, financial position essentially stable The Group’s operating investments for the first six months of 2018, including capital grants, amounted to € 183.8 million, up € 13.7 million (+8.1%) over June 2017. Operating investments mainly involved interventions on plants, networks and infrastructures, as well as regulatory upgrading involving gas distribution above all, with a large-scale metre substitution, and the purification and sewerage areas. Net debt came to € 2,625.0 million at 30 June 2018, with a slight increase over the € 2,523.0 million seen at 31 December 2017 but essentially stable compared to the € 2,611.7 million witnessed in the first half of 2017, in spite of the higher amount of dividends paid (9.5 cents/share, instead of the 9 cents paid one year earlier). Net debt/Ebitda, an indicator of financial solidity, improved from 2.74 in the first half of 2017 to 2.62 at 30 June 2018. Gas Ebitda for the gas area, which includes services in natural gas distribution and sales, district heating and heat management, reached € 188.4 million in the first half of 2018, up compared to the € 171.8 million seen at 30 June 2017 (+9.6%), thanks to higher volumes of gas sold, an increase in trading and higher income from distribution services. The number of gas customers, which came to roughly 1.41 million, rose by 1.9% compared to the same period in 2017; this growth was brought about by expanding market shares and the entry of Blu Ranton and Verducci Servizi within the Group’s scope of operations. The gas area accounted for 36.0% of Group Ebitda. Water cycle Ebitda for the integrated water cycle area, which includes aqueduct, purification and sewerage services, went from € 111.3 million in the first half of 2017 to € 112.8 million at 30 June 2018, up 1.3%, thanks to higher revenues from dispensing and higher recognised costs. The integrated water cycle area accounted for 21.5% of Group Ebitda. Waste management In the first half of the year, Ebitda for the waste management area, which includes waste collection, treatment and disposal services, reached € 125.9 million (+3.8%), rising over the € 121.3 million seen at 30 June 2017. Initiatives aimed at recovering materials and improving energy efficiency contributed to this positive trend, in particular the full operation of Aliplast, as well as further development of an accurately focused marketing plan intended to broaden the customer portfolio and a continuous presence in the tender market. Moreover, the positive trend seen in prices for special waste treatment continued during this half-year, with double-digit growth rate. Further increases were also witnessed in sorted waste, which went from 58% in the first half of 2017 to 60% at 30 June 2018, thanks to the numerous services offered. The waste management area accounted for 24% of Group Ebitda. Electricity Ebitda for the electricity area, which includes services in electricity production, distribution and sales, went from € 91.6 million in the first half of 2017 to € 84.0 million at 30 June 2018, owing to the temporary closure of a few plants for planned maintenance. This area recorded additional growth in total customers, which increased by 82.8 thousand (+8.9%) compared to the first half of 2017, reaching 1.01 million customers, and also saw a 22.1% rise in volumes sold on both the free and safeguarded markets. This noteworthy result owes much to the Group’s continuous reinforcement of marketing actions and a broadening of its customer base. The electricity area accounted for 16% of Group Ebitda. Statement by Executive Chairman Tomaso Tommasi di Vignano “This half-year report confirms the trend of uninterrupted growth shown by the Hera Group over the last 15 years, respecting the content of its Business plan, in spite of an often difficult macroeconomic scenario. At present, the increase in Ebitda indicates that we should reach the milestone of one billion by the end of 2018, while the profits accumulated over the last six months, corresponding to 10.8 cents per share, already entirely cover the 10 cent dividend foreseen by the Business plan for the current year. These figures and outlooks provide further confirmation of the solidity of our multi-business model and the constant attention we show towards our shareholders”. Statement by CEO Stefano Venier “The results for the first half of 2018 once again reward the accuracy of the choices and initiatives implemented regarding operations, taxes and finance. Internal growth, as defined by factors including the efficiencies achieved, has brought ROE to 10%. These results are also sustained by all quantitative performance measures, which show positive trends, with an energy customer base growing by 110,000 in only 12 months and bringing us just one step away from 2.5 million customers. Taken as a whole, these elements allow us to show further determination towards reaching all of the objectives outlined in the Business plan”. The manager responsible for drafting the company’s accounting statements, Luca Moroni, declares, pursuant to article 154-bis paragraph 2 of the TUF, that the information contained in the present press release corresponds to the documentation available and to the account books and entries. The half-year financial report and related materials will be made available to the public pursuant to the terms established by law at Company Headquarters, on the website www.gruppohera.it and on the authorised storage platform 1Info (www.1info.it). Unaudited extracts from the Abbreviated Consolidated Half-Year Financial Statements at 30 June 2017 are attached. PROFIT & LOSS(M€) 30/06/18 INC% 30/06/17 INC.% CH. CH. % Sales 2,966.7 2,754.0 +212.7 +7.7% Other operating revenues 209.8 7.1% 202.3 7.3% +7.5 +3.7% Raw material (1,327.6) -44.7% (1,178.4) -42.8% +149.2 +12.7% Services costs (1,031.6) -34.8% (981.7) -35.6% +49.9 +5.1% Other operating expenses (30.3) -1.0% (25.8) -0.9% +4.5 +17.5% Personnel costs (281.7) -9.5% (282.4) -10.3% (0.7) (0.2%) Capitalisations 18.3 0.6% 17.9 0.6% +0.4 +2.2% Ebitda 523.6 17.6% 505.9 18.4% +17.7 +3.5% Depreciation and provisions (250.0) -8.4% (243.7) -8.9% +6.3 +2.6% Ebit 273.6 9.2% 262.2 9.5% +11.4 +4.3% Financial inc./(exp.) (39.2) -1.3% (45.9) -1.7% (6.7) (14.6%) Pre tax profit 234.4 7.9% 216.3 7.9% +18.1 +8.4% Tax (72.0) -2.4% (68.3) -2.5% +3.7 +5.4% Net profit before special items 162.4 5.5% 148.0 5.4% +14.4 +9.7% Special items 4.8 0.2% - 0.0% +4.8 +100.0% Net profit 167.2 5.6% 148.0 5.4% +19.2 +13.0% Attributable to: Shareholders of the Parent Company 158.1 5.3% 141.0 5.1% +17.1 +12.1% Minority shareholders 9.1 0.3% 7.0 0.3% +2.2 +30.9% BALANCE SHEET (M€) 30/06/2018 INC.% 31/12/2017 INC.% CH. CH.% Net fixed assets 5,828.2 109.1% 5,780.6 110.5% +47.6 +0.8% Working capital 84.2 1.6% 23.2 0.4% +61.0 +262.9% (Provisions) (571.8) (10.7%) (574.9) (10.9%) +3.0 (0.5%) Net invested capital 5,340.6 100.0% 5,229.0 100.0% +111.6 +2.1% Net equity 2,715.6 50.8% 2,706.0 51.7% +9.6 +0.4% Long term net financial debt 2,847.4 53.4% 2,735.4 52.4% +112.0 +4.1% Short term net financial debt (222.4) (4.2%) (212.4) (4.1%) (10.0) +4.7% Net financial debts 2,625.0 49.2% 2,523.0 48.3% 102.0 +4.0% Net invested capital 5,340.6 100.0% 5,229.0 100.0% +111.6 +2.1% 1H 2018 2018-07-30 For further informations 1H 2018 The consolidated half-year report at 30 June confirms growth in operating and financial indicators, in line with the first quarter, with a positive contribution coming from business areas, gas and waste management in particular. Thanks to the efficiencies achieved, ROE reaches 10%. /-/hera-bod-approves-1h-2018-results?inheritRedirect=true /documents/1514726/4880892/GruppoHera_relazione_semestrale_consolidata_al_30_06_2018_eng.1533290641.pdf/61b32b21-49d9-70cc-d10d-6383dfc8c8a2?t=1610019108070 http://investornews.gruppohera.it/en/?n=56 Press release Financial report as at 30/06/2018 Newsletter as at 30/06/2018 centrata Il CdA Hera approva i risultati del terzo trimestre 2018

GH-Lepida_110 In case of emergency, the last thing you need is an emergency logic. This is why the Hera Group, with Acantho - Digital Company of the Group, and Lepida have decided to carry on, by signing an important strategic collaboration agreement in the field of civil protection which contributes to improving the safety of the reference territories. Following a memorandum of understanding previously signed by the Region and the multi-utility, the agreement concerns the strengthening of the Regional Radiomobile Network (ERretre), the digital cellular network based on the European TETRA standard that supports all emergency services, guaranteeing efficiency and security of communications, from which the safeguard of the territory and the security of the local communities depend. Thanks to the agreement, Hera will initially make three of its sites available to Lepida, with which additional radio equipment will be installed that can increase the ERretre network and improve its efficiency. In particular, the sites identified are three piezometric reservoirs located in San Lazzaro di Savena in Bologna, and in Alfonsine and Cervia in the Ravenna area. In turn, the multi-utility can use the ERretre network to support its emergency services, improving the flow of communications to the Civil Protection and other bodies. In this way it will be possible to increase the overall level of functional integration among all the players who are in charge of various critical situations in the area. A key role was played by Acantho, Digital Company of the Hera Group, which has worked to set the scene for the signing of the agreement and will supply the TETRA standard radio terminals necessary to use the ERretre network. The Hera Group has always been committed to collaborating with the relevant public bodies, thus confirming its historic vocation to continuously improve its work. The agreement with Lepida, more precisely, is fully inscribed within the framework of a medium and long-term planning thanks to which the multi-utility, also in the face of particularly critical situations such as the drought events of 2017 or the bad weather in the Apennines of the winter just ended, aims to guarantee quality and continuity of the services provided, in the interests of the environment and local communities. GH-Lepida_870 20180702_Hera_signs_with_Lepida_for_the_use_of_the_ERretre_mobile_radio_network.1563281077.pdf 2019-07-16 GH_Lepida_870.1563281076.png A strategic collaboration that aims to increase the resilience of the regional territory in the field of civil protection: the multi-utility, in fact, will be able to use the ERretre regional mobile radio network to support its emergency services, making three of its sites already available to Lepida for the implementation of other radio installations, to further consolidate the existing network. Among these is the piezometric tank of San Lazzaro di Savena in Bologna read more GH-Lepida_110

scolarships_110 Hera Group repeated its commitment to support the school-age children of its employees and enriched the programme once again, for 2018. In fact, in addition to the 40 scholarships provided for the second year in a row to the most deserving university students, this year ten more have been added for high school students, who will be able to participate in study experiences abroad in collaboration with the Intercultura foundation. The initiative, launched to reward scholastic achievement based onto principles of fairness and meritocracy, as well as the ability to rise to challenges right from the educational stage, reached its conclusion today as prizes were awarded during a ceremony held in Bologna, at the Spazio Hera, attended by the Executive Chairman, Tomaso Tommasi di Vignano. The forty most deserving university students were identified by an excellence ranking drawn up according to the following parameters: being on schedule with the 2016-2017 academic year exam deadlines, the number of credits obtained and the average number of exams passed during the year. The company received more than 170 applications (more than twice as many as last year). Each of the 40 winners (graduates and undergraduates in economics, engineering, humanities and medicine) was awarded an individual scholarship worth 750 euro, for a total of 30,000 euro invested by the company. Among the winners there were also students studying abroad: a way to support a more complex life choice and to stimulate value creation, determined by acquiring experience in a range of settings. For high school students, on the other hand, the selection was carried out entirely by Intercultura's experts and consisted of aptitude tests, individual and group interviews, a meeting with the family and a health check-up. The ten winners were awarded 2,000 euro grants that will support the cost of attending a one-month study period abroad in Europe (UK, Finland and Denmark are the most popular destinations), the US (Washington is the favourite location) and South America (Argentina). scolarships_870 20180621_scholarships_for_the_children_of_its_employees.1534759933.pdf 2018-08-20 Read more borsedistudio_870.1534759932.jpg In addition to the 40 scholarships of 750 euro each awarded for the second year in a row to the most deserving university students, ten 2,000 euro scholarships were also awarded to high school students to help them participate in study experiences with Intercultura. The initiative, backed by a total investment of 50,000 euro, is part of "HExtRA", the multi-utility's corporate welfare plan scolarships_110

sachs_110 Among the conference guests there was Prof Jeffrey Sachs, of Columbia University, who played an important role in drawing up the Sustainable Developments Goals identified by the UN Agenda for 2030, which the Hera Group has chosen as a guideline for its commitment to sustainability. In its sustainability report, in fact, the multi-utility reports the shared value, i.e. the portion of EBITDA that comes from activities that generate operating margins for the company and also meet 10 of the 17 sustainability objectives set out in the Global Agenda. This share, up 10% compared to 2016, amounted to 329 million euro in 2017 (1/3 of total EBITDA) and the objective is to increase it to 40% of the EBITDA by 2021, thus contributing more and more to the needs of the area it serves and to the challenges for change. The investments already made were quite significant, and in 2017 alone contributed to generating the shared value of 200 million euro, i.e. 41% of the total. Among the main measures, there was the construction in Sant'Agata Bolognese of an important plant to produce biomethane from organic waste. In addition, the development of waste recycling through the Aliplast and Waste Recycling companies is also essential in order to fully implement the circular economy. The upgrade of the wastewater treatment service, the digitalisation of services from a Utility 4.0 perspective and, lastly, investments in innovation to make networks increasingly smart, complete the picture. [block]div:row-fluid::db:hr_press_comunicazione::box:111[/block] Moreover, in the new edition of the Sustainability Report, which from this year also offers useful food for thought on the national and international scenario, shared value has become the true hub around which Hera has organised the document's entire content, so as to highlight the contribution that the various activities make to its generation. The information contained in the report is divided into three main areas: smart use of energy, efficient use of resources, innovation and contribution to local development. 2017 Sustainability report embraces shared value https://www.youtube.com/watch?v=vRUqhHO3MGI 20180604_Sustainability_a_Hera_conference_in_Bologna_to_rethink_development.1533303274.pdf 2018-08-01 Read more valore_condiviso_870x320_eng.1533281374.png At the European Week for Sustainable Development, the multi-utility relaunches the debate on the challenges facing companies, countries and the international community, and illustrates the excellent results contained in its sustainability report, with almost 2 billion euro distributed by Hera in 2017 alone to local stakeholders and suppliers. Among the guests there was also Prof Jeffrey Sachs, one of the proponents of the UN's sustainability objectives, to which Hera contributed around 330 million euro of shared-value EBITDA last year alone sachs_110

sedeGH_110 Today, the Hera Group formalised an agreement with four credit institutions to activate a new € 200 million sustainable revolving credit line, intended to contribute to and maintain its financial solidity while at the same time enhancing the mix of financial products and instruments adopted by the company. This agreement is the first of its kind in Italy. The new credit line, named “ESG Linked RCF Facility”, introduces elements of sustainability through a bonus mechanism tied to specific environmental, social and governance objectives (ESG). In the commitment signed with the banks, indeed, a number of ESG performance measures were defined, which will determine the Group’s ability to benefit over time from more favourable rates. The sustainability objectives concern, for example, further reductions in the carbon footprint from energy production, new targets in energy efficiency and improvements in sorted waste collection. Hera has been a leader in all these areas for some time, as is recorded in its latest sustainability report, which at 2017 showed a 16% fall in the carbon footprint, a 3.6% reduction in the Group’s own energy consumption since 2013, with the goal of reaching a 5% decrease within 2020, and sorted waste at 57.7%, above the national average. After launching Italy’s first green bond in 2014, the Hera Group thus confirms its role as a pioneer in identifying innovative financial instruments linked to sustainability. "Environmental, social and governance objectives have long been a significant part of our Group's strategic planning", comments Stefano Venier, Hera's CEO, "and contribute to charting our course, in line with the goals set out in the UN's 2030 Agenda. We therefore consider it to be natural, perhaps even inevitable, for our financial instruments as well to reflect this vision, in addition to respecting the market's increasing sensitivity towards ESG issues. Hera has proven able to keep in step with this renewal in basic terms, interpreting the changes currently underway and providing itself with innovative models that now allow it not only to be appealing for the market, but also to explore paths that have never been followed before". In defining the agreement, the Hera Group collaborated with Vigeo Eiris, a leading European social and environmental rating agency. Vigeo Eiris formulated a second-party opinion concerning the importance of the measures defined and the degree of future improvements that can be expected as regards these same measures, which will determine the success of the operation. Hera was sustained within the club deal by: BBVA acting as Sustainable Coordinator, BNP Paribas and UniCredit acting as Documentation Agents, Crédit Agricole CIB acting as Facility Agent. All financial institutions acted also as Mandated Lead Arrangers. Sede Hera 20180517_press_release.1526553280.pdf 2018-05-17 Read more Sede Hera After launching the first green bond in 2014, the Group now confirms its place at the nations' forefront in the use of new sustainable financial instruments. Signed with four financial institutions, the € 200 million credit line is linked to a system of bonuses subject to reaching specific goals in environmental sustainability /group_eng/investor-relations/debt-and-rating/bond-issuances /group_eng/investor-relations/hera-strategy Hera Green Bond Hera Group strategy and shared value centrata sedeGH_110

Hera BoD approves 1Q 2018 results Financial highlights Revenues at € 1,741.3 million (+10.4%) Ebitda at € 322.7 million (+5.2%) Net profits for shareholders at € 120.5 million (+9.6%) Net debt decreased, coming to € 2,502.1 million Operating highlights Good contribution to growth coming from the main businesses, and the gas area in particular Solid customer base in Energy, increasing to roughly 2.4 million customers Management geared towards extracting efficiencies and expansion Today, the Hera Group’s Board of Directors unanimously approved the consolidated operating results for the first quarter of 2018, which confirm the ongoing positive trend and show rises in all main performance measures. These results were achieved thanks to the Group’s time-tested multi-business strategy, balanced between regulated and free market activities. This model was pursued by calibrating internal growth with the opportunities offered by the market and external development. In particular, the changes in the scope of operations witnessed during the first quarter were due to the consolidation of the Aliplast Group and Verducci Servizi, the transfer of Medea to Italgas and the exclusion of waste collection and street sweeping services in the Forlì area. M&As, instead, were concentrated above all in the energy area, with the acquisitions of Blu Ranton and 49% of Sangroservizi, in addition to 13,000 new “maggior tutela” customers served in the municipality of Gorizia through EnergiaBaseTrieste. Revenues amount to roughly € 1.74 billion Revenues for the first quarter of 2018 came to € 1,741.3 million, increasing compared to the € 1,577.8 million seen in the same period of 2017. A larger amount of commodity trading and higher revenues coming from gas and electricity sales were mainly responsible for this result, as were revenues from the waste management area and energy efficiency certificates. Ebitda rises to € 322.7 million Ebitda went from € 306.8 million in the first quarter of 2017 to € 322.7 in the same period of 2018, recording an increase of almost € 16 million (+5.2%). While this growth is due to the good performances seen in the Group’s main areas, the gas area contributed in particular, thanks to higher volumes sold and an increase in income from trading. Operating results and pre-tax profits increase, financial management improves Operating profits at 31 March 2018 came to € 197.6 million, up compared to the € 187.3 million recorded at the same date in 2017 (+5.5%). A € 5.6 million improvement was seen in financial management, coming to € 17.5 million at the end of the first quarter, thanks to efficiency in interest rates and higher income for interest derived from safeguarded customers. In light of this situation, pre-tax profits went from € 164.2 million in the first three months of 2017 to € 180.1 million in the same period of 2018, showing an increase in the rate of growth, which came to +9.7%. Net profit for shareholders grow to € 120.5 million (+9.6%) Net profit at 31 March 2018 rose to € 125.9 million, up compared to the € 115.3 million seen in 2017. € 120.5 million is the profit pertaining to Group shareholders, which increased by € 10.6 million over the € 109.9 million in the same period in 2017. These results, corresponding to a tax rate of 30.1%, are due to the Group’s continuous commitment to grasping opportunities recognised by law regarding the amortisation of the consistent investments made in a move towards Utility 4.0, in addition to tax credits for research and development and the final balance of previously acquired benefits. Roughly € 85 in investments, and a slightly improved net debt In the first three months of 2018, Group investments amounted to € 84.6 million, including the acquisitions made in the companies Blu Ranton and Sangroservizi. Operating investments grew by 5.9% and mainly concerned interventions on plants, networks and infrastructures, in addition to investments in an extensive meter substitution and in the purification and sewerage areas. Net debt improved for the third consecutive quarter, coming to € 2,502.1 million (compared to the € 2,523.0 million recorded at 31 December 2017). This was due to a positive and increasing cash generation, which among other things allowed the recent acquisitions to be financed. The 12-month rolling net debt/Ebitda ratio settled at 2.5, pointing towards further improvement in financial solidity. Gas Ebitda for the gas business, which covers services in natural gas and LPG distribution and sales, district heating and heat management, came to € 148.2 million in the first quarter of 2018, an increase over the € 135.6 million recorded at 31 March 2017 (+9.3%), thanks to higher volumes of gas sold, a rise in trading volumes and the larger scope of operations for this service. The number of gas customers rose to 1.4 million, up 1.1% over the same period in 2017, thanks to marketing initiatives. The gas business accounted for 45.9% of Group Ebitda. Water cycle Ebitda for the integrated water cycle, which covers aqueduct, purification and sewerage services, went from € 53.3 million in the first quarter of 2017 to € 55.6 million in the same period of 2018 (+4.3%), thanks above all to higher revenues from dispensing. These results also benefited from “quality premium”, granted by the regulatory authorities based on current methods for tariff calculation. The integrated water cycle accounted for 17.2% of Group Ebitda. Waste management Ebitda for the waste management business, which covers services in waste collection, treatment, recovery and disposal, went from € 64.0 million in the first quarter of 2017 to € 66.5 million at 31 March 2018 (+3.9%). This trend is mainly due to the encouraging results achieved in the area of waste treatment, which followed positive market trends. Good results were also seen in sorted waste, which rose to 59.5% compared to the 57.5% recorded in the first three months of 2017, thanks to the many projects launched over all areas served. The waste management area accounted for 20.6% of Group Ebitda. Electricity Ebitda for the electricity business, which covers services in electricity production, distribution and sales, showed a slight drop, going from € 48.4 million in the first quarter of 2017 to € 45.3 million at 31 March 2018, owing to the temporary suspension of some plants for planned maintenance. In spite of this, electricity reached the goal of 1 million customers for the first time, rising 10.6% over the first quarter of 2017, and also saw a 23.7% overall increase in volumes sold, with considerable growth in both the free and safeguarded markets. This significant result is due to the Group’s continuous reinforcement of marketing initiatives and the enlargement of its customer base. The electricity area accounted for 14% 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 quarterly management report and related materials are available to the public at Company Headquarters and on the website www.gruppohera.it. Unaudited extracts from the Interim Financial Statements at 31 March 2018 are attached. PROFIT & LOSS (M€) 31/03/2018 INC% 31/03/2017 INC.% CH. CH. % Sales 1,741.3 1,577.8 +163.5 +10.4% Other operating revenues 95.3 5.5% 89.8 5.7% +5.5 +6.1% Raw material (831.4) -47.7% (732.2) -46.4% +99.2 +13.5% Services costs (538.5) -30.9% (488.8) -31.0% +49.7 +10.2% Other operating expenses (12.7) -0.7% (12.0) -0.8% +0.7 +5.8% Personnel costs (140.0) -8.0% (137.2) -8.7% +2.8 +2.0% Capitalisations 8.7 0.5% 9.4 0.6% -0.7 -7.5% Ebitda 322.7 18.5% 306.8 19.4% +15.9 +5.2% Depreciation and provisions (125.0) -7.2% (119.6) -7.6% +5.4 +4.5% Ebit 197.6 11.3% 187.3 11.9% +10.3 +5.5% Financial inc./(exp.) (17.5) -1.0% (23.1) -1.5% -5.6 -24.3% Pre tax profit 180.1 10.3% 164.2 10.4% +15.9 +9.7% Tax (54.2) -3.1% (48.9) -3.1% +5.3 +10.8% Net profit 125.9 7.2% 115.3 7.3% +10.6 +9.2% Attributable to: Shareholders of the Parent Company 120.5 6.9% 109.9 7.0% +10.6 +9.6% Minority shareholders 5.4 0.3% 5.4 0.3% -0.0 -0.1% BALANCE SHEET (M€) 31/03/2018 INC.% 31/12/2017 INC.% CH. CH.% Net fixed assets 5,792.4 109.1% 5,780.6 110.5% +11.8 +0.2% Working capital 92.3 1.7% 23.2 0.4% +69.1 +297.8% (Provisions) (576.7) (10.8%) (574.9) (10.9%) (1.9) +0.3% Net invested capital 5,308.0 100.0% 5,229.0 100.0% +79.0 +1.5% Net equity 2,805.9 52.9% 2,706.0 51.7% +99.9 +3.7% Long term net financial debt 2,739.9 51.6% 2,735.4 52.4% +4.5 +0.2% Short term net financial debt (237.8) )4.5%) (212.4) (4.1%) (25.4) +12.0% Net financial debts 2,502.1 47.1% 2,523.0 48.3% (20.9) (0.8%) Net invested capital 5,308.0 100.0% 5,229.0 100.0% +79.0 +1.5% 1Q 2018 2018-05-10 For further informations 1Q 2018 The consolidated quarterly report at 31 March shows growth in all operating and financial indicators, with a positive contribution coming from all business areas and further improvement in net debt /-/hera-bod-approves-1q-2018-results-1?inheritRedirect=true /documents/1514726/4880892/GruppoHera_relazione_trimestrale_consolidata_al_31_03_2018_eng.1525946951.pdf/eb209a34-d9c9-040c-9f99-624083c0090a?t=1610019058696 http://investornews.gruppohera.it/en/?n=55 /documents/1514726/4667212/Dati_finanziari_ed_operativi_di_sintesi_1Q_2018_eng.1525768847.xls/0def4519-5b1f-7457-26b8-3919a059699f?t=1608550138175 Press release Financial results as at 31/03/2018 Newsletter as at 31/03/2018 Fiancial data as at 31/03/2018 centrata Hera BoD approves 3Q 2018 results

president_110 Hera's Ordinary Shareholders Meeting called to approve the 2017 financial statements was held in Bologna this morning. Furthermore, the 2017 sustainability report (a consolidated non-financial statement drafted pursuant to legislative decree 254/2016) was presented and the appointment of Alessandro Melcarne, priorly co-opted as member of the Board of Directors during the session held on 8 November 2017, was confirmed. Approval of the financial statements and a dividend rising to 9.5 cent/share In the Ordinary session, the Shareholders Meeting approved the balance sheets pertaining to 2017, which showed improvement in all operating-financial indicators, with results exceeding expectations: turnover reached € 6,136.9 million, up 10.3% over the previous year, Ebitda came to € 984.6 million (+7.4%) and net profits amounted to € 266.8 million (+21.1%). In 2017, overall Group investments, including capital grants, came to € 440.5 million (+14% compared to 2016). Net debt improved, amounting to € 2,523 million and the net debt/EBITDA ratio saw a further decrease compared to the previous year, settling at 2.56, thanks to growth in operating results and the reduction in net debt. These results are particularly positive, and confirm the validity of the Group's multi-business strategy, which allows the company to successfully balance regulated and free-market activities in addition to maintaining a sustainable risk profile. The combination of two fundamental levers, internal growth and external development, moreover allowed the Group to continue expanding, owing to factors including its ability to anticipate and grasp the best opportunities seen within an increasingly challenging regulated and market scenario, whose development models are progressively evolving. These results, in line with the content of the Business Plan to 2021, are the crowning achievement of the multi-utility's 15 years of activity, which have seen it reach significant goals: from a quintupled Ebitda to net profits that have grown by almost 8 times compared to 2002, without counting the 25 acquisitions completed, producing remarkable synergies. The Meeting then approved the Board of Directors' proposal to pay a 9.5 cent/share dividend, showing an increase over the past and in line with what had previously been announced in the Business Plan to 2021. The ex coupon date has been set at 18 June 2018, with payment beginning on 20 June 2018. The dividend paid, based on the price of Hera stock at 31/12/2017, corresponds to an annual return of over 3%. This confirms once again the Group's high degree of attention towards the creation of shared value, as indicated in the recent Business Plan, which calls for a policy of rising dividends compared to the Group's historical trend, with a further increase foreseen reaching 10 cent/share in 2018 and 2019, and coming to 10.5 cents in 2020 and 2021. The results achieved, the business model's resilience and the solid bases of the Business Plan, it is worthwhile noting, all recently allowed the Hera Group to obtain a revision of the company's outlook rating from Standard & Poor's, going from stable to positive. An entirely renewed sustainability report, with shared value Ebitda coming to € 329 million The 2017 sustainability report was also presented during the Meeting: entirely renewed from every angle, regarding both editorial criteria and content, it brings to light an increasingly strong attention towards the creation of shared value. This is accomplished by recording business activities that, in addition to generating operating income for the company, are also in line with the drivers for sustainable growth set out in the UN Agenda. More specifically, the Hera Group's shared value Ebitda amounted to € 329 million, up 10% over the previous year. This result perfectly matches the path marked by the Business Plan, which expects this value to reach 40% by 2021. Furthermore, in 2017 the Group also invested roughly € 200 million (approximately 41% of total investments) in the development of shared value. A rise was also seen in the overall wealth distributed in local areas, benefiting workers, shareholders, financers, banking institutions, public administrations, local communities and suppliers. This wealth came close to 2 billion euro in 2017, showing a 6.5% growth over 2016, with positive consequences for local economies and employment rates. The main interventions involved producing biomethane from the organic portion of waste, developing waste recycling, upgrading the wastewater purification service and digitalising services in a move towards utility 4.0. With sorted waste rising to 57.7% of the total, the Hera Group has continued reducing the use of landfills, which decreased to 7% as compared to the European target of 10% within 2035. An excellent performance was moreover seen in packaging recycling, which reached 68%, already over the European target of 65% by 2025. The strategic companies in recovering materials were Waste Recycling and Aliplast: in 2017 alone, the latter's plants in fact produced roughly 103 thousand tonnes of recycled plastic. The Group continues to show commitment to decarbonisation, with a 16% reduction in the carbon footprint in energy production compared to 2015. In the area of energy efficiency, the interventions implemented allowed the company to decrease its own energy consumption by 3.6% compared to 2013, surpassing the target of 3% and approaching the 5% set for 2020. Furthermore, for all the activities it manages in the Emilia-Romagna region, as of 2017 Hera has been using exclusively renewable energy, a choice made this year by AcegasApsAmga and Marche Multiservizi as well. Moreover, 67.5% of the energy produced by the Group itself comes in turn from renewable sources and cogeneration. Other resolutions approved The Meeting approved the renewal of its authorisation for the Board of Directors to purchase treasury shares (and arrangements for their disposal), for a maximum amount of € 200 million over 18 months, at the same time annulling the unimplemented part of the prior resolution, dating to the previous year.This renewal of authorisation was requested to pursue the aims provided for by current regulations and accepted market practices, including investment opportunities entailing the use of treasury shares to increase the creation of value, any acquisitions of holdings that may involve equity trading, and transactions involving financial instrument issuance. The Meeting furthermore approved the remuneration policy report, in line with international best practices. Lastly, the report on corporate governance was presented to the Meeting. The appointment of Alessandro Melcarne as member of the BoD confirmed The meeting lastly confirmed the appointment of Alessandro Melcarne as member of the Board of Directors of Hera S.p.A. Melcarne had previously been appointed by cooptation during the Board of Directors meeting held on 8 November 2017, substituting the resigning Aldo Luciano, and will remain in office until the date set for the appointment of the next Board of Directors, i.e. until the Meeting called to approve the financial statements for 2019. Director Melcarne confirmed that he meets the independence requisites foreseen by law and does not hold any shares in Hera S.p.A. His CV can be consulted on the website www.gruppohera.it, within the Corporate Governance/BoD section. Presidente e AD del Gruppo Hera 2018-04-26 For further informations TTV_SV_870.1524741022.png Improvement seen in all operating-financial and sustainability indicators, with results exceeding expectations and a renewed commitment to creating shared value. Appointment of Alessandro Melcarne, co-opted last November as member of the Board of Directors, confirmed /-/hera-shareholders-meeting-2017-financial-statements-and-dividends-rising-to-9.5-cent-share-approved-1?inheritRedirect=true /group_eng/corporate-governance/shareholders-meetings /documents/1514726/4210743/Financial+results+as+of+31_12_2017.pdf/103e1350-e7eb-ee2d-5f2f-6e985bffc353?t=1629971620065 Press release Go to Stakeholders' meeting session 2017 Financial results president_110

LUOTW_110 The Hera Group - Italy's second operator in the water cycle, with 300 million m 3 of water sold and 3.6 million citizens served - has now become part of the Leading Utilities of the World (LUOW), a network that brings together the planet's most innovative and successful companies in the water and wastewater sector and aims at promoting shared knowledge, projects and new objectives, in addition to favouring collaboration. This new entry came about during the 2018 Global Water Summit, which was brought to a close yesterday in Paris. Hera is Italy's first operator to obtain this recognition, which chronologically follows its membership in the CEO Water Mandate, an initiative launched by the Global Compact of the United Nations and designed to encourage companies to show greater commitment in sustainable water management. In order to become part of the LUOW, the Hera Group passed the four phases involved in selection. The company was requested to provide extensive documentation proving its commitment and innovative contribution to managing water and wastewater activities. Following an additional phase of dialogue with the evaluation committee, which took place in France during the last few days, the Group became the twenty-eighth company to join the network. Hera thus confirms the international status of its activities, which for some time now - as recorded in detail in its sustainability report - have been fully in line with the path set out by the European Union and the UN's 2030 Global Agenda. The water sector, after all, is the area in which Hera has always concentrated the majority of its investments, coming to an average of more than 110 million per year over the last five years. This allows the Group to maintain over 53 thousand km of network in good health, in addition to approximately 900 production, treatment and purification plants. All users are thus provided with safe and inexpensive water, guaranteed by over 2 thousand analyses per day and capable of successfully overcoming periods of serious drought, such as the one seen during 2017. One of the strong points of Hera's integrated water service lies in its orientation towards innovation, with cutting-edge solutions based on automation and remote control of networks and plants, to guarantee continuity in supply and maintain leakage in its networks among the lowest in the country. This context includes, for example, the development of a technique involving satellite research for water leaks that Hera, the first to do so in Italy, developed in collaboration with the Israeli company Utilis, significantly increasing the amount of water recovered. Acting together with the National Health Institute, moreover, Hera is currently implementing the Water Safety Plans, a European protocol for monitoring all phases involved in drinking water production and distribution. LUOTW_870 https://www.leadingutilities.org/ press_release_leading_utilities_.1524143605.1524149783.pdf 2018-04-19 Read More Hera_SpA_2380_GWI_870.1524149606.jpg The first Italian company to be admitted within this network, Hera confirms the international standing of its activities in the water cycle, reflecting its participation in the Global Compact's CEO Water Mandate and its entry as part of the CE100. The Group's commitment takes concrete shape with over 110 million invested in the sector each year /group_eng/sustainability/thematic-reports/in-good-waters /group_eng/business-activities/water https://www.leadingutilities.org/ In good waters - thematic report on water quality Water: Hera Group's key figures Water: Hera Group's key figures - external link - the link will open in a new window Visit the Leading Utilities of the World website LUOTW_110

Tommasi_Galli_Venier110 Hera and Italgas completed today in Milan the transfer of 100% of Medea S.p.A., the company holding the concession for gas distribution and sales in the city of Sassari. This acquisition follows up on the binding agreement signed by the parties on 21 December 2017 and results from all conditions set forth in the contract having been met. Medea's overall enterprise value was set at € 24.1 million. The entire price was paid on a cash basis, net of debt. This transaction is part of a larger process through which the Hera Group is rationalising its holdings and concentrating on its own reference territories. The baton was handed to Italgas, Italy's main operator in the gas distribution sector, following a fruitful twenty-year collaboration between Hera and the municipals administrations in office over this period of time, which allowed Medea to be transformed into the largest company of its kind in Sardinia. Thanks to investments reaching over 20 million euro in favour of this area, the company now serves approximately 13,000 customers, all of whom reside in the city centre of Sassari and to whom it distributes a volume of over 5 million m3 per year. Hera-Italgas870 press_release.1523003727.pdf 2017-12-21 Read more Hera_Italgas870.1513853697.jpg All conditions set forth in the agreement having been fulfilled, the 100% divestment of the company holding concessions for gas distribution and sales in the city of Sassari has been completed. Hera thus continues in its process of rationalizing the Group's holdings Read more Tommasi_Galli_Venier110

Hera Group approves results at 31/12/2017 Financial highlights Turnover at € 6,136.9 million (+10.3%) EBITDA at € 984.6 million (+7.4%) Net profits at € 266.8 million (+21.1%) Net debt improves, coming to € 2,523.0 million Proposed dividends rise to 9.5 cent/share S&P rating: BBB with positive outlook Operating highlights Contributions to growth come from all business areas, in particular free market activities, such as the Electricity and Waste Benefits derive from recent Group acquisitions in liberalised waste management and energy markets (most notably Aliplast) Further reinforcement of the energy customer base, reaching 2.4 million users, thanks to marketing operations, recent acquisitions and the tender awarded for safeguarded services Improvement in all sustainability indicators, with 2017 shared value EBITDA rising by 10% to € 329 million Today, the Hera Group’s Board of Directors unanimously approved the consolidated financial results at 31 December 2017, along with the Sustainability Report. All operating, financial and sustainability indicators improve, crowning 15 years of uninterrupted growth The 2017 financial year closed for the Hera Group with results higher than expected, and with all operating, financial and sustainability indicators showing clear improvement over 2016. These particularly positive results, in line with the content of the Business Plan to 2021, confirm the validity of the company’s multi-business strategy, which allows it to successfully balance regulated and free-market activities, in addition to maintaining a sustainable risk profile. The combination of two fundamental levers, internal growth and external development, furthermore permitted the Group to achieve continued growth, which resulted from factors including its ability to foresee and grasp the best opportunities in an increasingly challenging regulated and free-market scenario, whose models for future development continue to evolve. These results represent the culmination of a path that has led the multi-utility to achieve significant goals over its 15-year lifespan: from a quintupled EBITDA to almost eight times the amount of net profits (compared to 2002), only to mention a couple, without counting the 25 acquisitions brought to completion, which have produced considerable synergies. Moreover, the results reached confirm the Group’s constant pursuit of objectives involving all aspects of sustainable development: environmental, social and economic. A 10% rise in shared value created was in fact seen in 2017, through activities that meet the UN Agenda’s drivers for sustainable development and the goals defined by various levels of government. In line with this perspective, the Group is now part of international programs such as the CEO Water Mandate and the Ellen MacArthur Foundation’s CE100, a network made up of the world’s 100 companies most committed to the transition towards a circular economy. Gas EBITDA for Gas, which includes services in natural gas distribution and sales, district heating and heat management, rose to € 301.7 million, fundamentally in line with the € 300.6 million seen in 2016. This result was obtained mainly thanks to internal growth, with positive contributions coming from the management of distribution and sales activities, an expanded customer base, the positive trend seen in prices and higher volumes of trading. These positive results proved more than able to offset lower earnings in district heating. The results were also sustained by the acquisition of the Abruzzo company Verducci Servizi and the default gas service, which allowed volumes sold to increase, with the number of customers rising to roughly 1.4 million (+14,900 customers), to which sales activities and customer loyalty programs also contributed. Net investments in Gas exceeded € 100 million in 2017, with a € 6.2 million increase compared to 2016, mainly destined to non-recurring maintenance on networks and plants and the large-scale meter substitution introducing new-generation devices and making the networks smarter. The gas business accounted for 30.6% of Group EBITDA. Water cycle The integrated water cycle, which includes aqueduct, purification and sewerage services, recorded an EBITDA of € 229.9 million, showing a slight growth over the € 228.8 million seen in 2016, thanks to higher regulated revenues and operative efficiencies, which offset the lower revenues for new connections. Owing to the high level of service quality, moreover, the corresponding bonuses were granted by the Authority. Net investments in the integrated water cycle amounted to € 113.1 million. Including capital grants, investments in this area came to € 156.6 million (up compared to the € 131.8 million seen in 2016), of which € 63.8 million in the aqueduct, € 42 million in sewerage and € 50.8 million in purification. The integrated water cycle business accounted for 23.3% of Group EBITDA. Waste EBITDA for Waste, which includes waste collection, treatment and disposal services, settled at € 246.0 million, growing by 6.6% over the € 230.7 million recorded in 2016. This positive result is due to both changes in the scope of operations, with the 2017 acquisitions of the Aliplast Group and Teseco, which gave an important impulse towards a circular economy and the management of industrial waste, and internal growth sustained by higher volumes of market waste treated and a positive trend in prices. This allowed the loss of incentives concerning the Isernia plant and a few non-recurring entries to be offset, the latter mainly involving a temporary halt in some WTE plants (in the first part of the year) and costs for demolition in the S. Agata Bolognese site, where one of Italy’s first plants for bio-methane production is now in the advanced stages of construction, which will become operational within 2018. Good results were also seen in the area of sorted urban waste collection, which rose to 57.7%, compared to the 56.4% seen in 2016, thanks to a range of projects implemented across all areas served. The waste management business accounted for 25% of Group EBITDA. Electricity Electricity, which includes services in electricity production, distribution and sales, recorded an EBITDA of € 184.5 million, with a sharp improvement compared to the € 135.3 million recorded in 2016 (+36,4%), thanks to activities in trading, higher income in production and in free market and safeguarded market sales. The number of electricity customers is now over 980,000 (+9% compared to 2016), thanks to reinforced marketing operations and the larger customer base deriving from the tender awarded for safeguarded services. The amount of Group EBITDA accounted for by the electricity area rose to 18.7%. Statement by Executive Chairman Tomaso Tommasi di Vignano "The results reached allow us to draw a few conclusions as to the path of growth followed by Hera over these first 15 years of its history: an operating performance that clearly shows through in Group EBITDA, which has quintupled compared to the one seen in 2002, without counting the positive effects of financial and fiscal management, which in turn bear witness to an even more considerable growth, given that 2017 net profits reached 7.8 times those recorded in 2002. Opportunities for internal and external development (with 25 companies acquired over the years) have led not only to an increase in size, but above all to higher efficiencies and productivity, as is proven by EBITDA per employee, which has virtually tripled. The central role given to creating value for our shareholders has also been confirmed: on the basis of the results reached, we will put to the Shareholders Meeting a dividend of 9.5 cents/share, up 5.5% compared to the dividend paid in 2016 and in line with the policy communicated last January. The return implied by this dividend would thus come to 3.3% and, considering the 32.8% rise in the price of Hera stock seen over 2017, the overall return for shareholders will exceed 36%." Statement by CEO Stefano Venier "The 2017 results confirm the validity of our actions in financial planning and management, to the point that they have already allowed us to lower our debt more than was expected. The substantial improvement in operating and financial indicators, furthermore, was accompanied by excellent working performances, confirming the quality of the business initiatives deployed to achieve a long-lasting and sustainable growth. Even the targets met in terms of higher creation of shared value allow us to affirm that 2017 was, for us, an important milestone along our path of growth and, in various senses, represented a new starting point to give an effective response and a tangible contribution to the noteworthy challenges that lie in the future." BE 2017 2018-03-27 For further informations BE 2017 Improvement seen in all operating, financial and sustainability indicators. These results, which exceeded expectations, crown a path of development that has led the multi-utility to quintuple its EBITDA over its 15 years of operations. Proposed dividends rise to 9.5 cent/share. /-/hera-group-approves-results-at-31-12-2017-1 /documents/1514726/4210743/Financial+results+as+of+31_12_2017.pdf/103e1350-e7eb-ee2d-5f2f-6e985bffc353?t=1629971620065 http://investornews.gruppohera.it/en/?n=54 http://15anni.gruppohera.it/en/ Press release Financial results as at 31/12/2017 Newsletter as at 31/12/2017 Visit the website 'Hera: a 15-year stream of services' centrata Hera Group approves results at 31/12/2017

The project for an incorporation of Megas.Net and Marche Multiservizi (MMS), the largest multi-utility in the Marche region and part of the Hera Group (which currently holds 49.59% of MMS), has now become reality. Today, indeed, the two companies' Shareholders Meetings approved, in an extraordinary session, the project for a merger by incorporation of Megas.Net into Marche Multiservizi. The merger, which had already been given the go-ahead by the majority of the town councils of the two companies' Municipality shareholders and by trade unions, complies with the regulatory indications provided by legislative decree 175/2016 (so-called "Madia decree"). Above all, however, it represents a strategic operation for the area in question, allowing a range of objectives to be reached, including enhanced service efficiency, expense rationalisation and a more consolidated MMS. The final act of this corporate operation will see the stipulation of a deed of merger, after the amount of time required by law as of the shareholders meetings' resolutions. When the operation is concluded, public shareholders will hold roughly 55% of the share capital of Marche Multiservizi. MMS_Megas_870 press_release.1533042727.pdf 2018-07-31 Read more MMS_Megas870.1520433311.1533042726.png Today, the two companies' Shareholders Meetings approved, in an extraordinary session, the project for merger by incorporation of Megas.Net into Marche Multiservizi mms_megas110.1520433314.1533042728.png

Potentialpark_110 "In an increasingly competitive and challenging context, we need to know how to adapt continuously in order to attract talents that allow the company to keep up with the times - commented Giancarlo Campri, Central Director of Personnel and Organization of the Hera Group. That is why we are particularly pleased with Potentialpark's recognition, and it confirms that we have chosen the right direction. Both inside and outside the company we have always tried to promote two-way communication that is focused on the Group's values, on its growth objectives and on how we can achieve them. Personnel development is one of the levers to achieve these results and explaining what we do, through forms of storytelling and employer branding, is instrumental not just to promote the company, but to get in touch with people that can add value and contribute to our growth." Giancarlo Campri 20180307_CS_Potentialpark_Hera_ENG_REV_DEF.1533304694.pdf 2018-08-03 Related contents campri.1534241219.jpg Again this year, the renowned Swedish research company Potentialpark has included the multi-utility among the most "talent-friendly" companies, thanks to its online communication aimed at young graduates looking for their first job sinistra Potentialpark_110

toputility110 Achieving excellence in any field or industry is no easy feat, doing so year after year even less so. Yet this is exactly what the Hera Group has succeeded in doing at the sixth edition of Top Utility Analysis, which declared the Bologna-based Group to be Italy's most eco-sustainable public service company out of 100 contenders. The report, drawn up by independent company Althesys, rewarded Hera for its"attention to efficient use of energy and resources, improved corporate social responsibility results and the centrality of sustainability to its strategy". This acknowledgement - a repeat of the recognition obtained in the same area in 2015 - follows the Top Utility Absolute award received in 2013 and the Top Utility Communication award of 2014. A shared goal throughout the company, sustainability is the subject of a specific yearly report that ensures all parties can count on complete up-to-the-minute information on the Group's social and environmental impact. The sustainability report is constantly evolving. Following last year's introduction of an indicator showing what proportion of gross operating margin is generated by activities that respond to UN Global Agenda 2030 goals, next year will see an in-depth overhaul to ensure ever-more effective representation of the direct links between actions taken and the contribution to sustainable development. A clear example of this takes the form of the biomethane plant being built at Sant'Agata Bolognese, expected to come on line in the last quarter of 2018. It has been cited by the Global Compact as a world-class example of how to achieve UN Agenda goal n. 7 ("Clean, accessible energy"). Once fully operational, the use of innovative anaerobic digestion and upgrading technologies will allow the facility to produce 20,000 tons of high-quality natural fertiliser and 8 million cubic metres of biomethane (a 100% renewable fuel) from the separate collection of organic waste every year. This is a major project that aims to convert and modernise an existing facility without taking up any more land. It will save over 6,000 tons of oil a year and provide tangible proof that sustainability is, indeed, the way forward. A way forward that starts with families, by collecting and using their kitchen scraps (i.e. the separated organic waste) and ends with real local benefits in the form of a gas that can, for example, power private vehicles or public transport, with immediate improvements in air quality. While that's just one of many examples of how Hera efficiently blends innovation with sustainable development (a wider set of activities was assessed by the survey), it does, perhaps, best represent how the Group's commitment to sustainability translates into a variety of sound initiatives which positively impact quality of life. toputility870 press_release.1519659248.pdf 2018-02-26 Read more toput870.1519659328.png The Hera Group comes out on top again at the sixth edition of the Award, which analyses and promotes the performance levels of the country's main public utility companies toputility110

petisland110 For the Hera Group, sustainability continues to be synonymous with art. Through Aliplast, the Group company that puts plastic through a treatment process that allows its reutilisation, Hera has, fact, provided the raw material with which artist Matteo Peretti created the works that make up PET Island, an exhibition being held at Fabbrica Arte Rimini (FAR) from 17 February to 2 April. The technical sponsor of Peretti's exhibition, Aliplast, engages, every day, in the fight against the pollution that has created the vast island of plastic floating in the Pacific Ocean. It is this island that the title of the Roman artist's exhibition half-jokingly refers to. In this sense, the perception of public duty behind Peretti's work, which examines the collective and social aspects of the subject matter, immediately won favour with the Hera Group, itself engaged in environmental education projects involving some 100,000 students from local schools. With this initiative the multiutility aims to restate its own distinctive commitment to the circular economy; for some time now, this has involved significant initiatives aimed at involving the art world in the regeneration of materials that would otherwise be headed for disposal. One such initiative is the SCART project, which, thanks to close collaboration between Waste Recycling (another Group company) and students from the Fine Art Academies of Bologna and Florence, has generated several events; these include a travelling exhibition consisting of works made entirely from waste, some of which were incorporated on Hera's stands during the most recent editions of the Rimini-held Ecomondo fair. petislan870 20180215_press_release.1519198486.pdf 2018-02-21 Read more pet870.1519198485.png This Hera Group company, a leader in the plastic recycling sector, provided the material for the artist's works, on show from 17 February to 2 April at Fabbrica Arte in Rimini petisland110

topemployers110 For the ninth consecutive year, the Hera Group has confirmed its position as a leader in Human Resources management. This acknowledgement comes from the Holland-based Top Employers Institute which has, since 1991, been researching workplace quality standards in the world's leading companies. According to the Dutch institute, the Hera Group proved to be deserving of "Top Employer" certification on account of "the excellent working conditions enjoyed by employees, a training and development policy that reaches every level of the company and advanced HR management strategies", all of which make Hera "committed to continuous improvement of policies and best practices". Today, Top Employers is a highly sought-after international acknowledgement. The certification process, which has, over the years, become ever-stricter, is based on analysis of objective data and in-depth checks. Key analysis parameters include investment in training and development, welfare and on-boarding policies for new hires, careful planning of selection processes and career paths, targeted talent-growing strategies, a positive corporate culture and an exciting, constructive workplace. Only those companies that achieve the required standards can be listed as Top Employers. In Italy, some 90 companies have been certified this year. These include the Hera Group (the first multiutility to take part in the project, from 2010 onwards), one of just 11 companies to attain uninterrupted recognition. More specifically, the company stood out on account of the "Hextra" integrated corporate welfare plan; set up in July 2016 and covering almost all the Group's 9,000 employees, it is also characterized by a quota of resources that can be "customised" by individual workers to suit their needs. Moreover, as of 2018 employees can convert their results bonuses into further welfare benefits: measures for striking a better work-life balance (smart working, leave/absence management policies and support when returning to the company), development policies and programmes aimed at raising every employee's level of health and safety awareness. What's more, the Group is one of the top Italian companies when it comes to investing in employee training and personal/professional development (it provides about 29 training hours per capita per year). Training experiences have been made more engaging and effective thanks to HerAcademy, the Corporate University that ensures close collaboration between companies and key academic institutions; moreover, 2017 saw the introduction of new, more personalised ways of getting the best out of training as part of the HER@futura programme. The company's heavy investment in training and its ties with the local communities where it operates are also evident in the Hera Educational programme. The latter focuses on providing students with work experience that aims to merge corporate skills with skills acquired in the secondary schools of Emilia-Romagna. Over 200 work experience programmes have been completed since 2015 and the project will soon be extended to schools in Veneto and Friuli-Venezia Giulia. The full Hera Group profile, with the reasons and criteria behind the certification, can be consulted at: www.topemployers.it topemployer870 press_release.1519658204.pdf 2018-02-26 Read more topemp870.1519658203.png The multiutility confirms its position as a leader in Human Resources management. The working conditions enjoyed by its employees are recognised as nothing less than excellent, as are training and development policies at every corporate level and continuous improvements to best practices topemployers110

CEO_logo110 The Hera Group – Italy’s second operator in the water sector, with 300 million m3 of water sold and 3.6 million citizens served – now endorses the CEO Water Mandate, the United Nations Global Compact initiative promoted to re-launch the commitment shown by companies to a sustainable management of water resources. Active for years in all areas in which the CEO Water Mandate supports interventions, Hera is the second Italian company to endorse it, after Enel, thus joining over 100 companies distributed across the globe, including Veolia, Suez, Engie and E.On. The CEO Water Mandate, more specifically, indicates an approach to water services that is subdivided into six focus areas, to which the Group fully adheres. They begin with measures concerning a company’s direct use of water and continue with those involving the supply chain, with a further focus area centred around collective action, intended to incentivise collaborations with third parties and thus consolidate good practices. Another focus goes to public policy, to promote sustainable water management in public debate, develop knowledge on the topic and encourage activities related to sector associations. The CEO Water Mandate, furthermore, gives significant value to community engagement, inviting companies to operate in this sense by developing water infrastructures and environmental education initiatives. Specific attention, finally, goes to the issue of transparency, to orient companies towards accurate financial reporting as regards their progress in reaching essential objectives, such as those tied to water. After recently becoming part of the CE100, the Ellen MacArthur Foundation program that brings together the world’s 100 organisations most active in the transition towards a circular economy, and after launching its collaboration with the Global Compact Network Italia, Hera now intends to endorse the CEO Water Mandate. This will confirm the international scope of its operations, which for some time now – as recorded in its sustainability report – have fully respected the path set out by the European Union and the UN’s 2030 Global Agenda. The water sector, moreover, is the area in which Hera has always concentrated the majority of its investments, coming to over 110 million per year – on average – over the last five years. This allows the Group to maintain an over 53,000 km network in good conditions, along with roughly 900 production and purification plants, providing all with safe and affordable drinking water, as guaranteed by over 2,000 analyses per day, and successfully dealing with periods of serious drought, such as the one seen in 2017. One of the strong points of Hera’s integrated water service consists in its orientation towards innovation, turning to avant-garde technological solutions based on automation and remote control of networks and plants in order to guarantee a continuous supply and ensure that leakage in its networks remains among the lowest nationwide. This is the context that saw, for example, the implementation of a technique involving satellite research on water leakage that Hera, the first in Italy to do so, developed in collaboration with the Israeli company Utilis, substantially increasing the amount of water recovered. In a collaboration with the National Health Institute, furthermore, Hera is implementing the Water Safety Plans, European protocols for monitoring all phases of the drinking water production and distribution supply chain. "The challenges involved in water resources must be considered on a global scale", states Stefano Venier, Hera Group CEO. "This is why Hera intends to continue giving shape to its efforts according to the framework set out by the United Nations. In this sense", Venier adds, "the CEOWater Mandate represents a valid tool for activation with which companies all over the world can identify, and come together for the future of the planet. After all", concludes the multi-utility's CEO, "Hera has long been active in all of the focus areas indicated by the mandate, demonstrating its ability to anticipate many of the orientations that the international community has rightly chosen." CEO Water Mandate press_release.1517301518.pdf 2018-01-30 Read more CEO Water Mandate The second Italian company to do so, Hera thus confirms its own orientation towards the objectives set out in the UN's 2030 Agenda, re-launching its commitment to a sustainable water resource management, which in the areas served is worth over 110 million in investments per year https://ceowatermandate.org/ https://www.unglobalcompact.org/ https://www.youtube.com/watch?v=CZbpzCTnCqE /group_eng/sustainability/thematic-reports/in-good-waters CEO Water Mandate website UN Global Compact website Video - Curcular economy - Stefano Venier meets Ellen MacArthur Report in good water centrata CEO_logo110

Scart_bo_110 Art works made from waste take their place beneath the Two Towers. From tomorrow until 18 February, the splendid setting of Palazzo Pepoli Campogrande will be hosting "SCART il lato bello e utile del rifiuto", an exhibition organised by Hera Group which brings together works by artists and students from the Fine Arts Academies of Bologna and Florence. For its Bologna visit, the entire exhibition is crowned by a giant 5-metre tall Pinocchio made by Edoardo Malagigi from thousands of old wooden Pinocchio dolls. Angela Nocentini, together with Malagigi, is the coordinator of the installation "Business Wo/men", a group work by the students of the Academies composed of fourteen life-size sculptures of business men and women. Each statue is 100% made from waste materials such as strips of leather, paper, safety belts, frozen pea packages, scraps of fabric, glass, wood and flakes of recycled plastic. The models on which the students created the artworks were made by Nocentini herself, who on Art City White Night on Saturday 3 February will be making the fifteenth model for the installation live. "Waste Anatomy", which is the title of her performance, will begin at 6 pm and involve all those present. On that particularly day, the exhibition can be visited from 10 am to midnight. The exhibition is completed by four wolves by Alberto Salvetti, assembled from tape, paper, wire, bitumen and especially from newspaper pages reporting news about the dispersion of the wolf. [block]div:row-fluid::db:hr_press_comunicazione::box:94[/block] Scart_BO_870 20180129_Con_Scart_in_Bologna.1534756168.pdf 2018-08-20 Read more IMG_20180129_WA0009.1534757655.jpg After Ravenna, Imola, Modena, Udine and Pisa, the travelling exhibition of Hera Group comes to the city tomorrow, to coincide with Arte Fiera. Until 18 February, works made out of waste by young artists can be viewed free of charge at Palazzo Pepoli Campogrande. On Saturday at 6 pm, a performance by Angela Nocentini Scart_bo_110

The European Investment Bank (EIB) and the Hera Group have finalised a € 110 million financing contract intended to support the 2017-2021 development program of this Italian multi-utility, listed on the Milan stock exchange. Through this loan, the European bank chose in particular to finance 19 projects involved in the waste cycle that are in line with EU directives and foresee interventions in various regions of Italy. 50% of the cost of these projects, coming in turn to roughly € 227 million, will thus be covered by financing from the EIB. More specifically, the line of credit will be destined to further improvements in the performance of Hera's waste management services, above all by increasing the amount of sorted waste, as indicated in the regional objectives set out by the areas serves, but also by Herambiente, the Hera Group company that is a nationwide leader in waste treatment, recycling and recovery. The Group aims at increasing the efficiency of its own processes to a greater extent, and improving the sustainability standards of its set of plants, whose emissions are, moreover, already far below the limits set by law. With this financing, which falls within EIB policies, new resources will therefore be made available in the transition towards the model of a circular economy, a transition to which Hera has long contributed, as is shown by its entry as part of the CE100, the program promoted by the Ellen MacArthur Foundation that brings together the 100 most active figures in this field worldwide. An additional positive element, furthermore, lies in the satellite activities and the consequences in employment which, over the period in which the Hera Group's multi-year investment plan is put into effect, are believed to help reinforce growth in the economies of the areas concerned. The operation provides the Hera Group with an important contribution to the consolidation of its own financial structure and follows up on the collaboration set into place over time between the EIB and the Group: four other operations (concerning investments in waste management and networks) have in fact been signed by the EIB and Hera in recent years, amounting to over € 700 million. Hera_870 press_release.1532967070.pdf 2018-07-30 Related contents sede_Gruppo_Hera_4505.1516717240.1532967068.jpg The loan is destined to support investments in the environment area, with the aim of introducing innovative projects to help further increase the percentage of sorted waste and the efficiency of treatment and recovery plants sede_Gruppo110.1516717243.1532967072.jpg

Pianoindustriale110 Operating-financial highlights 2021 EBITDA: € 1,135 million (+218 million over 2016 EBITDA) Overall industrial and financial investments: almost € 2.9 billion (+62% over the investments seen in the past five years) Net debt/EBITDA ratio remains below 3 Profits/share to increase by an annual average of roughly 5% over the duration of the Plan Dividends expected to keep rising, reaching 10.5 cents per share as early as 2020 (+17% over the last dividend paid) Industrial highlights The 5 strategic priorities confirmed: growth, efficiency and excellence, with an increasing focus on innovation and agility Group development based on a balanced mix of internal and external (M&A) growth Reconfirmation of current grants in tenders for gas distribution and urban waste collection, and confirmation of the trends of growth in the waste recycling and treatment sector, in line with the principles of a Circular Economy Strategy reflects the main transitions currently underway in the sector: Circular Economy, Customer Experience, Utility 4.0 Objective of over 3 million energy customers at 2021, with 30,000 new gas and electricity customers acquired as of the current year and a reinforcement of commercial synergies, thanks to the recent acquisition of a further 29.5% of Hera Comm Marche Shared value to reach over € 450 million Preliminary consolidated results for 2017 show roughly 980 million in EBITDA, and a plan geared towards growth This morning, the Hera Group's Board of Directors, which met to discuss the Business plan to 2021, also examined the preliminary consolidated results for 2017, which confirm a year-end EBITDA of roughly € 980 million, up almost 7% over the 917 million seen at 31 December 2016 and exceeding the forecast of the previous business plan. The Group's financial solidity will thus see an improvement in the net debt/EBITDA ratio, at approximately 2.6x. On the firm basis provided by this result and by an increased financial flexibility, the Board of Directors approved the new Plan to 2021, which reflects a strong commitment to further growth in the Group's businesses, within a scenario marked by far-reaching changes. A deeply evolving scenario The scenario promises to be denser than ever in events that will bring about a profound evolution in almost all sectors in which the Group is active. In a framework showing clear and positive signals of economic recovery, Italian operators will be called to participate in the process, already underway thanks to the tenders for gas distribution announced by the Authority, of a significant rationalisation in the number of operators. In the waste collection sector, considering the recent transfer of power to the national Authority for energy, gas and the water service (renamed ARERA), service concession tenders which have already expired or will do so during the next five years are expected to be initiated. Other regulatory changes are also expected for segments involving protected energy service customers, intended to promote a further increase in added value for the services offered and greater competition on the marketplace. To this one must add the ongoing processes of consolidation in the energy sales and waste treatment sectors, which are currently among the most fragmentary in Europe and are, in the environmental services sector, at the root of the country's shortcomings in efficiency and infrastructures. The investment plan and the solidity of the Group's assets Faced with the numerous and diversified opportunities offered by the new scenario, the Plan to 2021 foresees investments amounting to almost € 2.9 billion, up roughly 400 million over the previous strategic plan. On the one hand, they will serve to fuel growth over the upcoming five years, and on the other to spark a transformation of Group businesses towards the new industrial paradigms of Circular Economy and Utility 4.0. Over 70% of the investments expected by the Plan will in fact be dedicated to networks, partially going towards a reconfirmation of the concessions for gas distribution in the areas served, and partially to significant interventions in infrastructure modernisation and development, such as installing electronic meters, completing the Rimini seawater protection plan and upgrading the Servola and Cà Nordio purifiers. Furthermore, investments in innovative projects, such as extending smart grids to aqueducts or introducing new technologies for optimising purification sludge recovery, will allow an increase in network efficiency and a reduction in and energy and material consumption. This investment plan proves to be sustainable from a financial point of view, thanks to a positive and rising cash generation, sufficient to cover the investments themselves and dividend payments. The Group's financial solidity, as foreseen by the Plan, expressed in a 2021 net debt/EBITDA ratio of 2.9, will potentially leave room for additional investments, used to grasp opportunities not currently included in the Plan, without jeopardising the parameters that the Group has long maintained as a reference point. Strategy confirmed for seizing the opportunities offered by the scenario and creating shared value The actions envisaged by the Group will be founded on its fundamental principles, efficiency, excellence, growth, innovation and agility; this set of strategic priorities has led the Group to set in place, ahead of time, the necessary preconditions to adequately deal with the changing scenario that lies ahead. The strategy outlined in the Plan is concretely articulated according to the paradigms of a Circular Economy and the opportunities offered by Utility 4.0, through a growing digitalisation of processes, data collection and analysis and the widespread use of "intelligent" infrastructures. The Group, which has always been attentive to the issue of sustainability, in 2016 furthermore began financial reporting as to Shared Value, i.e. the portion of profits generated by projects that benefit the company and at the same time contribute to reaching the UN's 2030 Agenda (covering at least 10 of the 17 objectives indicated). In 2016 this portion accounted for roughly 30% of Group EBITDA and it is expected to rise to 40% or € 450 million overall (amounting to a 150 million increase) within 2021. Increasing EBITDA objectives, balanced between the various business areas, between regulated and free market activities, and between internal and external growth In view of the investment plan to be launched covering the upcoming five years, EBITDA is expected to reach € 1,135 million in 2021, with an almost 220 million increase over the 917 million recorded at the end of 2016. This growth will prove once again to be balanced between the Group's various business areas, while maintaining its current conservative risk profile thanks to the breakdown of its activity portfolio and the wider range of opportunities for growth offered by the reference scenario. A contribution to the increase in EBITDA over the duration of the Plan will indeed come from all areas (Networks, Waste and Energy), and will also be balanced between profits coming from regulated and free market activities and between internal and external growth. As regards internal growth, a high degree of attention towards extracting efficiencies has been confirmed, as has the continuation of plans to expand in markets, with an overall contribution at 2021 of € 138 million (up 17% over the 118 million of the previous five-year plan), sustained by progress in innovation in addition to the support coming from development investments. Further impetus towards growth will come from the lever of gas tenders, with an incremental EBITDA expected to reach 29 million through a reconfirmation of concessions in the current reference areas. For tenders involving waste collection the Plan is based on the idea of reconfirming services in the areas now served, while waiting for the future arrangements set out by the national Authority, ARERA. Concerning external development (M&A), the Plan expects a 107 million euro contribution to growth in EBITDA over the five years in question. This contribution is in line with what the Hera Group has achieved in the past, ever since it was established, through both mergers with other multi-utilities and acquisitions of mono-business companies operating in the energy sales and waste treatment sectors. The latter have been included in the Plan only as regards the operation concerning the Aliplast Group, carried out in 2017 (through the subsidiary company Herambiente, Hera now holds 80% of this Group, with the possibility of acquiring the remaining 20% within 2022), while additional opportunities offered by liberalised markets have been left "on top" of the objectives contained in the Plan. Increasing value for shareholders and an improved dividend policy The Plan confirms the Group's care towards creating value for shareholders, with profits per share increasing by an annual average of approximately 5% and an improved dividend policy with respect to both the past and the forecast of the previous Business plan. The dividend will indeed rise to 9.5 cents/share as of the payment pertaining to 2017 (to be made during the current financial year) and settle at 10.0 cents in 2018 and 2019, reaching 10.5 cents for 2020 and 2021 (+17% compared to the last dividend paid). Networks: smart infrastructures and excellence in services at the root of the Utility 4.0 model The majority of the growth over the duration of the Plan is expected to come from the networks area: EBITDA traceable to electricity and gas distribution, the water cycle and remote heating services will go from € 424 million in 2016 to 552 million in 2021, thus contributing to roughly half of the Group's overall EBITDA. A strong impulse will come from the over 2 billion in investments dedicated to the evolution and modernisation of networks, by adopting innovative technologies able to guarantee an excellent customer service (efficiency, safety, information exchange) and improve management competitiveness, with the aim of reconfirming the concessions already gained in the Group's reference areas. Efficiencies remain a strategic priority, and will contribute to growth over the five-year period with 24 million overall, to which one must add 15 million coming from the innovations introduced in networks (from energy efficiency projects applied to the most energy consuming activities, to automation systems in networks). Consolidating the Group's role as a reference point in the waste sector The waste sector EBITDA is expected to grow from the € 231 million seen in 2016 to 282 million in 2021. This growth will be sustained by the current positive trends in demand, and by approximately € 600 million in investments over the duration of the Plan. The latter will be dedicated to fuelling innovation in environmental services and maintaining an appropriate capacity of waste treatment in the reference area, without neglecting trustworthiness and sustainability. One concrete example of the application of the best technologies currently available is the creation in the Bologna area of the first biomethane production plant, which will become functional within 2018 and allow the circle to be "come home": from collecting the organic part of sorted waste and agricultural trimmings to introducing the methane produced into the network, achieving a particularly sustainable cycle and clear benefits for air quality. Particular attention will continue to go to developing sorted waste, expected to grow from 56% in 2016 to 70% in 2021, including improvement from a qualitative point of view as well, in order to gain the most value from the portions collected and increasingly reduce both environmental impact and tariffs for citizens. Efficiencies remain a cornerstone for the expected results, which will also be sustained by the innovations foreseen (the latter will contribute roughly 8 million to overall growth in the waste area). Furthermore, in 2017 the entrance of Aliplast within the Group's scope of operations has allowed Hera, already a leader in the sector, to introduce a new phase and be among the nation's precursors in developing a model of a circular economy. In the future as well, attention will go to solutions able to further increase the circularity of the Group's activities. The avant-garde position it has reached in treatment, reuse, recycling and energy valorisation thus becomes a heritage made available to industrial customers. The latter already see the Hera Group as a point of reference and a trustworthy partner, able to provide them with support in the evolution of their production processes, in line with the principles of a circular economy, by offering them an all-round service in waste management. Energy: over 3 million customers The energy sector will increase its EBITDA from the € 241 million seen in 2016 to 259 million in 2021. The challenging objective set by the Group is to reach over 3 million energy customers by the end of the Plan, making the most of both internally developing its own customer base, in line with its track record, and the opportunities offered by the market. These involve, for example, extinguishing protected categories in electricity, or the upcoming assignment of last resort services, in which the Hera Group has accumulated a solid experience over the years. Beginning with the over 2.3 million customers reached in 2017, the enlarged customer base will be able to rely on 30,000 new energy clients in the current year: 13,000 protected electricity customers in the municipality of Gorizia, recently acquired through the subsidiary EnergiaBaseTrieste, with 17,000 further gas and electricity customers soon added in the Marche and Abruzzo regions, thanks to a binding deal signed in the last few days. The strong point of both operations lies in integrating a local presence, in a physical sense, that is typical of smaller businesses, with the potential for innovation in services and offers, and the competitiveness that come from belonging to a Group that is among the main operators in the Italian energy market. This is the light in which Marche Multiservizi's acquisition of 29.5% of the share capital of Hera Comm Marche must also be seen, as brought to completion last December, in line with the consolidated decision to reinforce both the integration between Group companies and synergies across the areas served. The customer base will be enlarged thanks to the introduction of new offers, increasingly innovative and personalised, that combine energy sales with the supply of services with added value that are closely tied to the commodity itself (for example, tools for increasing energy efficiency in households). Furthermore, the Group will be able to defend its own customer base with increasing attention to customer experience, turning to digitalised processes and adopting efficient data management and analysis systems to guarantee an excellent service and accelerate the "time to market". Lastly, thanks to the knowhow gained in energy efficiency both within the company and when acting for third parties, the Group will be able to interface with public administrations, condominiums or businesses as reference partners for defining and implementing effective solutions for energy saving, an element which is increasingly crucial in local and national energy strategies. Tomaso Tommasi di Vignano, Hera Chairman The reference scenario shows deep changes occurring in all sectors in which the Group is active, and requires us to "change gears" in order to seize the opportunities that we have been preparing to handle for some time now. The challenging objectives contained in the Plan rest on the solid results achieved until present, and that we wish to turn into further growth from all points of view, both in terms of size and regarding improvements in quality, risk profile and sustainability. The targets reached, as is also demonstrated by the 2017 forecast, allow us to look towards an incremental profit projection compared to the previous Plan, and towards growing payments to shareholders, with an additional increase in dividends, following up on the one announced last year. Stefano Venier, Hera CEO Already today, the new frontiers of circularity and shared value are a reality for the Group, which it can use as levers for an increasingly avant-garde industrial development, with the goal of meeting our customers' evolving needs and facing the urgent drive towards sustainability set out in the agendas of all countries. Our Plan envisages an intense investment program, amounting to almost 3 billion euros, confirming the Group's financial solidity and leaving further room for additional opportunities. Pianoindustriale870 2018-01-10 For further informations pi_2021_870x320.1515584703.jpg Based on the forecast for year 2017, EBITDA amount reached roughly 980 million, the Group's path of growth will continue to focus on investments, innovation and agility, in order to seize the emerging opportunities in the utility sector. Internal growth will be favoured by efficiencies and by innovative and sustainable solutions, while the Group's financial soundness will allow external growth to proceed /-/hera-group-approves-business-plan-to-2021-1 Press release Pianoindustriale110

Jarvis_110 The Bolognese start-up Iooota, in which the telecommunications company Acantho holds an interest, is one of the 10 Italian companies that from January 9 to 12 will exhibit at the Las Vegas Consumer Electronics Show (CES 2018), the world's largest fair of consumer technology products. Selected by ICE-Agenzia with the patronage of the MISE, Iooota will participate in the first Italian, "Made in Italy - The Art of Technology" mission, with which Italy intends to promote its own path towards innovation, to combine technology, style and design. Iooota, in particular, will be present with Jarvis, a small five-sided robot that can "dialogue" with all the devices used in an office or home. Already a winner of a Digital 360 Awards Jarvis transforms homes into intelligent subjects that respond in an integrated, fast and simple way to the needs of those who live in them, under the most modern protocols of the so-called "Internet of Things" (IoT). A real digital butler, in short, who will land in Las Vegas to show the world what he is capable of. It's really tough to find something Jarvis doesn't know how to do or that he can't learn. Energy saving, safety, entertainment, healthcare: there are so many areas in which it can help. Using a simple app on a smartphone, and remotely, Jarvis can control lights, adjust the temperature of individual rooms, run large appliances such as washing machines and also smaller devices such as sound systems, interact with alarm systems, send messages to warn of gas leaks, flooding, fires, break-ins, and it can also be very helpful for those who have elderly relatives living alone or small children. Moreover, by selecting some preset modes - such as "good morning", "good night", "in" and "out" - Jarvis acts simultaneously and in a coordinated manner on several devices: with "good morning", for example, it raises the thermostat temperature, turns on the coffee machine and starts playing music; by selecting "out", instead, it turns off heating and lights and activates the alarm system. If intrusions or suspicious movements occur, it sends security camera pictures to the user's smartphone. Applications don't end there, of course, because Jarvis looks to the future and its technology is designed to interface with devices and services that have yet to reach the market. Jarvis will be available in 2018, with the objective of being a useful tool to simplify the lives of many, helping to save energy, time and money. For all these reasons Acantho has decided to sponsor the project and has become Iooota's industrial partner. The Hera Group - which Acantho belongs to - has always been mindful of the best start-ups that appear in its area, and thus confirms its strategic focus on innovation, especially when it translates into solutions that, as for the robot designed by Iooota, take meaningful steps forward in terms of energy efficiency, consumption control, environmental protection and, more broadly, quality of life. "We are very pleased - says Luca Degli Esposti, Founder and CEO of Iooota - that Jarvis's potential has come to light to the point of offering us the opportunity to participate in the Italian mission to Las Vegas. There is an Italian way for innovation which we deeply believe in and that Jarvis interprets openly and creatively, communicating with those who use it, learning their tastes and habits and thus becoming an additional, active member of the office, of the home, or of the family that hosts it. Cooperation with the other companies - continues Degli Esposti - is also very important to develop the great growth potential of Jarvis: our robot, in fact, can increase the efficiency and sustainability with which resources of primary importance are consumed, such as gas and electricity but it can also raise the value of an increasingly broad set of technological devices, enhancing their functions, bringing them together and giving them, literally, a voice". "Believing in innovation and in dreams - says Roberto Vancini, President of Acantho - means never ceasing to be curious. Ultimately, this is the greatest lesson that comes from a young and fresh business like Iooota, which we are delighted to work with. Fifteen years ago - continues Vancini - we were among the first to invest in the development of a proprietary ultra-wide bandwidth fibre-optic network: we did so to provide increasingly efficient services to our customers but also because we knew that all this would encourage the development of technologies that could not yet even be imagined at the time. Jarvis is one of them. We are extremely pleased with the awards he is receiving internationally, and l can't wait to see how he will be received by the market." Jarvis_870 20180105_Jarvis_the_robot_of_the_Bologna_based_start_up_Iooota_on_stage_in_Las_Vegas.1533304472.pdf 2018-08-03 Related contents jarvis870.1533304471.jpg The young company, in which the telecommunications company Acantho holds an interest, will be at the world's largest exhibition of consumer technology products with its first creation, a small digital butler that helps users - automatically and remotely - manage the devices of their homes and offices. It is an open, smart and expandable solution designed to make life easier while saving energy, time and money Jarvis_110

Tommasi_Galli_Venier110 Italgas and Hera signed today a binding agreement for transferral to Italgas of 100% of Medea S.p.A.. The company has the concession for gas distribution and sale in the city of Sassari. Medea's overall enterprise value has been set at € 24.1 million. At the closing of the transaction, the price will be paid entirely in cash, net of debt. The transaction is expected to be concluded within the first few months of 2018 and is subject to a number of pre-closing requirements. Medea serves roughly 13,000 customers, all residents in the urban area of Sassari, with annual gas volumes distributed amounting to over 5 million cubic meters. The company's potential pool is of approximately 30,000 users. The network, which in the future may be converted to natural gas, extends for over 190 km and is currently fuelled by LPG through a storage and production plant located on the outskirts of the city. Hera-Italgas870 20171221_Press_release.1513849588.pdf 2017-12-21 Read more Hera_Italgas870.1513853697.jpg Thanks to this operation, Italgas will further reinforce its presence in Sardinia while Hera continues its process of rationalising Group subsidiaries Read more Tommasi_Galli_Venier110

aliplast110 Today in Bologna, Herambiente, a Hera Group company and leader in Italy in waste treatment and recovery, completed its purchase of an additional 40% of the shares of Aliplast, a primary national figure in plastic collection and recycling and subsequent regeneration. With this operation, which follows up on the first step taken on 3 April 2017, the amount of Aliplast shares held by the Hera Group rises to 80%. As foreseen by the binding deal signed by both parties in January, the remaining 20% of Aliplast shares will be purchased within June 2022. The sum paid by Herambiente in purchasing the further 40% of Aliplast comes to € 51.8 million, which includes the contribution collected as an energy-intensive company and the earn-out portion for having reached increasing results as regards EBITDA in 2016. The purchase was carried out with the Group's own resources. Since the majority of shares is now held by the Hera Group, Aliplast's governance has been modified. In particular, Aliplast's Shareholders Meeting, which came together immediately following the completion of the additional 40% by Herambiente, resolved to enlarge its Board of Directors, going from five to seven members, four representing the Hera Group and three from Aligroup. The new and thus composed BoD, in its first sitting, which took place on today's date, appointed Carlo Andriolo and Roberto Alibardi respectively as CEO and Chairman of the company. The acquisition of Aliplast, which is to be considered alongside the similar operations finalised in 2015 and 2017 involving the Treviso company Geo Nova and the Tuscan companies Waste Recycling and Teseco, has allowed the Hera Group to consolidate its own market presence with a distinctive trait, both unique and concretely in line with the principles of a circular economy. This element makes it possible to offer the Group's clients trustworthy and ever-more integrated solutions, able to complete and round off the virtual circle of sustainability: from collection and treatment of plastic deriving from production scrap waste, to the regeneration of new products. Due precisely to its own specific features, Aliplast was one of the elements that qualified the Hera Group to be admitted to the Ellen MacArthur Foundation's international CE100 program, which brings together the world's leading 100 companies that stand out for their commitment to the transition to a circular economy. Founded in 1982 by Roberto Alibardi and headquartered in Ospedaletto di Istrana (Treviso), Aliplast is a national leader in industrial plastic waste collection and in regenerated polymer recycling and production, with roughly 80,000 tonnes of plastic material recycled every year. It was the first company in Italy to reach a full integration spanning the entire plastic lifecycle: from environmental services in managing and collecting packaging and industrial scrap waste to manufacturing and market sales of packaging products and materials made out of plastic recycled by the company itself. Aliplast employs approximately 350 people in its five Italian and three foreign (Spain, France and Poland) facilities. firmaaliplast870 press_release.1513253652.pdf 2017-12-14 Read more firma_aliplast870.1513253651.jpg Today, Herambiente completed the purchase of a further 40% of the Treviso company's shares, and the ensuing change in governance. The remaining 20% of the shares of this national leader in plastic recycling will be acquired within June 2022, as foreseen in the deal signed last January http://ha.gruppohera.it Herambiente website aliplast110

Scart110 The winning companies of the Corporate Art Awards 2017 are, today, receiving their awards at the Ministry of Cultural Heritage in Rome. Those companies include the Hera Group. The multiutility has won this recognition thanks to SCART, an artistic/communication project that focuses on creating works of art and installations out of waste. In illustrating the reasons for the award, the judges stated that SCART represents "the world's leading corporate Waste Art project in terms of breadth, originality and continuity over the years". Hera thus joins the ranks of other leading companies (which received the applause of none other than the President of the Italian Republic, Sergio Mattarella) that have demonstrated excellence in international projects designed to bring the business and art worlds together. Conceived by Maurizio Giani and now with a twenty-year tradition behind it, the SCART project is part of the Hera Group's broader commitment to the circular economy. It boasts a Waste Art collection now over 900 pieces strong that include costumes, pictures, furnishing items, musical instruments and much more besides. Involved in numerous national and international exhibitions, SCART works alongside major research and training institutes such as the Accademie di Belle Arti of Florence and Bologna, as well as internationally renowned artists and critics. Moreover, many of the works created as part of the SCART project embellish offices and other workplaces within the Group, making them an integral part of the way customers are welcomed (as the recent Hera stands at the Ecomondo fair in Rimini and FICO in Bologna clearly demonstrate). With 6.9 million tons of waste processed, a vast pool of processing plants and 3.3 million citizens served, the Hera Group is Italy's number one waste management provider. By placing particular emphasis on industrial waste, SCART makes a sound contribution to building on these results. It does so by using an array of artworks to raise expected standards and by having a positive impact on the way we see recycling and re-utilisation. To get a clearer idea of what the SCART project is all about you can visit the travelling "SCART, il lato bello e utile del rifiuto" show free of charge. Following its success in Ravenna, Imola and Modena, the show is now in Udine at the Tina Modotti Gallery until 30 November. From 7 December to 15 February 2018 the works will be on display at the Chamber of Commerce in Pisa. Scart870 20171122_SCART_ai_Corporate_Art_Awards_2017_BO_en_SD_EP_TTT.1511877115.pdf 2017-11-28 Read more SCART870.1511877114.jpg Assigned in Rome today at the Ministry of Cultural Heritage, this award acknowledges the Hera Group project that makes art out of waste materials Scart110

wbr110 In this 2017 edition of the on-line communications 'Oscars', the Hera Group has again made it onto the Webranking podium. The multi-utility will receive the acknowledgement - obtained as part of a survey carried out by Lundquist and Swedish firm Comprend, both communications experts - on 22nd November, in the Buzzati Room at the headquarters of the Corriere della Sera newspaper in Milan. Every year these two companies analyse the websites of the biggest Italian companies on the stock exchange and their respective on-line communication strategies. They then draw up national rankings for 112 businesses. The purpose of the survey is to promote a modern digital business culture and encourage the development of ever-more effective, innovative ideas that respond to stakeholders' expectations. In this 16th edition of the report Hera was ranked 3rd with a score of 91.5/100, ahead of other major players like ERG, Telecom Italia TIM, Mondadori and Enel. Among the multi-utilities, this year saw Hera come second, immediately after Eni. All results can be found at this link. More specifically, the Group is ranked as one of the best Italian companies in the fields of Financial Transparency, Sustainability and Corporate Governance. Key strong points in the multi-utility's web communication strategy are the on-line publication of its Annual Report and Sustainability Report. The latter, which contains non-financial information, is drawn up by fewer than half of the surveyed companies. Hera, instead, has issued a paper version since 2002 and an on-line one since 2006. Against a background in which still only a few companies focus on stakeholders' expectations, a key role is also played by Hera's years of attentiveness, on its website, to the subject of Governance. Such results can only be obtained through ongoing, meticulous teamwork and a constant quest for excellence. Externally generated inputs also have a role to play, the most important being that from Webranking which, every year, defines best on-line communication practices through stakeholder-focused research. The Hera Group doesn't just see its website as a calling card or a showcase of results that have been achieved. It is, rather, a platform for continuous dialogue with the various stakeholders, packed with engaging content and easily browsed on PC, tablet or smartphone. This is demonstrated, for example, by renewal - in terms of both graphics and content - of sections on subjects such as Investor relations, Social Responsibility and Communications and Media; constant upgrading of the Customer Area so that citizens who use Hera services are well informed at all times; the creation of new pages dedicated to Hera's new challenges, such as the recent "Hera for the circular economy". wbr870 http://www.lundquist.it/wp-content/uploads/2017/11/Whitepaper_Webranking_Italia-2017-2018-1.pdf 2017-11-13 Read more webranking870.1510756159.png Hera website ranked third in Italy's on-line communications 'Oscars'. Rankings stem from a national survey of 112 companies, carried out by Lundquist and Comprend wbr110

Terzo trim eng110 Financial highlights Revenues at € 4,027.8 million (+11.4%) EBITDA at € 724.7 million (+11.4%) Net profit post minorities at € 182.9 million (+28.6%) Net debt at € 2,610.0 million Operating highlights Good contribution to growth coming from all businesses, in particular Energy Results were mainly underpinned by internal growth Positive effects coming from the merger of Aliplast and Gran Sasso Solid customer base in Energy business, with over 2.3 million clients, up 150,000 over the first nine months of 2016 Today, the Hera Group Board of Directors unanimously approved the consolidated economic results at 30 September 2017, which show further growth in all operating and financial indicators, as expected in the business plan. This growth, continuous since the first quarter, confirms the validity of the Group’s multi-business model and of its strategy, that seeks for balance between internal and external growth. In particular, the statements for the first nine months of 2017 show the beneficial results of the entry of the companies Aliplast and Gran Sasso within the Group’s scope of operations, and of the tenders awarded for 2017-2018 last resort, default and safeguarded supply services. Revenues rise, reaching € 4,027.8 million In the third quarter of 2017, revenues came to € 4,027.8 million, up 11.4% compared to the € 3,615.5 million recorded at 30 September 2016. In line with the positive macro-economic framework, this year profited from the entry of Aliplast and Gran Sasso within the Group, as well as from the positive effects ensuing from a higher trading activities, an increase in electricity price, a rise in volumes of gas sold and higher regulated revenues in the water sector. EBITDA increases to € 724.7 million The Group’s consolidated EBITDA at 30 September 2017 grew from € 650.6 to € 724.7 million (+11.4%). The good performance coming from all Group areas is responsible for this result, in particular from the Energy business, which benefitted from higher profits in power generation and in safeguarded and default market sales. Positive results were also reached in the integrated water cycle and waste areas, thanks above all to the acquisition of Aliplast. Ebit and pre-tax profits up, financial management improves EBIT grew to € 357.9 million, against the € 329.2 million seen at 30 September 2016 (+8.7%), while pre-tax profits rose to € 283.4 million compared to € 239.1 million at the same date one year earlier (+18.5%),thanks to improvements in financial management. In particular, this good performance reflects a more efficient financial structure, partially obtained through the liability management operations carried out during the previous year. Net profit post minorities increases to € 182.9 million (+28.6%) Profits pertaining to Group Shareholders rose to € 182.9 million, against € 142.2 million at 30 September 2016 (+28.6%), thanks among other things to a 32% tax rate, notably better than the same figure for the previous year (due to a lower Ires rate and a continuous search for tax efficiency following the enlargement of the Group’s scope of operations). Approximately € 280 million in investments, net debt essentially stable The Group’s operating investments at 30 September 2017, including capital grants, amount to € 277.1 million, up compared to the same period in 2016 and in line with the business plan’s forecast. Operating investments involved above all interventions on plants, networks and infrastructures, in addition to regulatory adaptations mainly concerning gas distribution, with a large-scale meter substitution, and the purification and sewerage area. Net debt came to € 2,610.0 million at 30 September 2017, with a slight reduction compared to first half of 2017 and remaining fundamentally stable with respect to the € 2,558.9 million recorded at 31 December 2016, considering the funds allocated to dividend payments and M&A operations. Gas EBITDA for Gas, which includes services in natural gas and LPG distribution and sales, district heating and heat management, came to € 201.4 million at 30 September 2017, up 8.0% over the same date one year earlier, thanks to growth in trading, higher volumes of gas sold and the larger scope of operations in the default service. The number of gas customers in the first nine months of 2017 totalled 1.4 million, rising by 3.9% over the same period in 2016, partially due to the acquisition of the company Gran Sasso (located in Abruzzo region). The Gas business accounted for 27.8% of Group EBITDA. Water cycle The integrated water cycle, which includes aqueduct, purification and sewerage services, recorded a 2.6% increase in EBITDA, going from the € 173.7 seen at 30 September 2016 to € 178.3 at the same date in 2017, thanks to higher revenues from distribution, in spite of increased operating costs and lower revenues from new connections. The integrated water cycle accounted for 24.6% of Group EBITDA. Waste The results reached in the Waste, which includes services in waste collection, treatment, recovery and disposal, show rising figures, with EBITDA going from € 172.2 million at 30 September 2016 to € 181.4 million at the same date in 2017 (+5.3%). This performance is due to higher volumes commercialised in waste treatment, a positive trend in the price of special waste and the entry within the Group of Aliplast, a national leader in plastic recycling, which consolidated the Group’s position regarding the development of a circular economy. These results are all the more appreciable considering that they suffer from a lower contribution coming from incentives for renewable and assimilated sources, by roughly € 8 million. Further growth was also seen in sorted waste, which went from 55.8% at 30 September 2016 to 56.6% at the same date in 2017, thanks to the numerous new services offered. Waste accounted for 25.0% of Group EBITDA. Electricity Electricity, which includes services in electricity production, distribution and sales, recorded an EBITDA that grew from € 104.3 million at 30 September 2016 to € 147.4 million in September 2017, thanks to higher earnings in free market and safeguarded sales and higher profits in electricity generation. The number of electricity customers increased by 11.6% to 964,000, mainly owing to growth in the free market. Electricity accounted for 20.3%of Group EBITDA. Appointment by co-optation of a new director Furthermore, on today’s date the Board of Directors resolved the appointment by co-optation of Prof. Alessandro Melcarne as a new director of Hera Spa, substituting the resigning Mr. Aldo Luciano. On the basis of statements provided by the director and information at the Company’s disposal, the former meets the requirements of independence provided for by law. Prof. Melcarne has additionally stated that he holds no shares in the Company. The new director’s curriculum vitae is available on the website www.gruppohera.it, in the section Corporate Governance/CdA. 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 3Q financial statement and related materials are available to the public at Company Headquarters and on the website www.gruppohera.it. Unaudited extracts from the Interim Financial Statements at 30 September 2017 are attached. PROFIT & LOSS 30/09/2017 INC.% 30/06/2016 RECLASSIFIED INC.% CH. CH. % Sales 4,027.8 3,615.5 +412.3 +11.4% Other operating revenues 327.3 8.1% 259.9 7.2% +67.4 +25.9% Raw material (1,776.4) -44.1% (1,437.4) -39.8% +339.0 +23.6% Services costs (1,428.6) -35.5% (1,382.7) -38.2% +45.9 +3.3% Other operating expenses (45.3) -1.1% (34.7) -1.0% +10.6 +30.6% Personnel costs (409.1) -10.2% (390.1) -10.8% +19.0 +4.9% Capitalisations 29.0 0.7% 20.0 0.6% +9.0 +45.0% Ebitda 724.7 18.0% 650.6 18.0% +74.1 +11.4% Depreciation and provisions (366.8) -9.1% (321.3) -8.9% +45.5 +14.2% Ebit 357.9 8.9% 329.2 9.1% +28.7 +8.7% Financial inc./(exp.) (74.5) -1.8% (90.2) -2.5% -15.7 -17.4% Pre tax profit 283.4 7.0% 239.1 6.6% +44.3 +18.5% Tax (90.6) -2.3% (87.2) -2.4% +3.4 +3.9% Net profit 192.8 4.8% 151.8 4.2% +41.0 +27.0% Attributable to: Shareholders of the Parent Company 182.9 4.5% 142.2 3.9% +40.7 +28.6% Minority shareholders 9.9 0.2% 9.6 0.3% +0.3 +2.8% BALANCE SHEET (M€) 30/09/2017 INC.% 31/12/2016 INC.% CH. CH.% Net fixed assets 5,670.8 108.5% 5,564.5 108.7% +106.3 +1.9% Working capital 108.8 2.1% 99.9 2.0% (8.9) (8.9)% (Provisions) (553.5) (10.6%) (543.4) (10.7%) (10.1) +1.9% Net invested capital 5,226.1 100.0% 5,121.0 100.0% +105.1 +2.1% Net equity 2,616.1 50.1% 2,562.1 50.0% +54.0 +2.1% Long term net financial debt 2,713.3 51.9% 2,757.5 53.9% (44.2) (1.6)% Short term net financial debt (103.3) (2.0%) (198.6) (3.9%) +95.3 (48.0)% Net financial debts 2,610.0 49.9% 2,558.9 50.0% +51.1 2.0% Net invested capital 5,226.1 100.0% 5,121.0 100.0% +105.1 +2.1% 3Q 2017 2017-11-08 For further informations 3Q 2017 The consolidated third-quarter report at 30 September once again confirms the excellent momentum of growth seen during the current year, with all main operating and financial indicators showing further improvement /documents/1514726/4210740/Hera_Group_Consolidate_Quarterly_Report_as_at_30_September_2017.1510131153.pdf/0586de9d-6af6-0dec-cecd-9c517948fbb5?t=1597908240435 /-/hera-s-bod-approves-3q-2017-results-1?inheritRedirect=true /documents/1514726/4210740/GruppoHera_Newsletter_9M_2017_eng.1510132327.pdf/7298c678-b293-001c-6d78-75208733d8cc?t=1597908239448 /documents/1514726/4210740/Dati_finanziari_ed_operativi_di_sintesi_9M_2017_eng.1510044934.xls/ccad87ad-c3fc-ff2c-357f-9ed1ed5e944c?t=1597908239125 Financial report as at 30/09/2017 Press release Newsletter as at 30/09/2017 Financial data as at 30/09/2017 centrata Terzo trim eng110

Logo CE100 blu 110 In this sense, some crucial elements for Hera's entry within the CE100 include reaching well in advance the targets set by the EU across the areas served by the Group, its commitment in terms of energy efficiency with the target of a 5% reduction in consumption by 2020 and the exclusive use of renewable energy as of 2017, the Sant'Agata Bolognese biomethane project and a significant presence of organic waste recovery through biodigesters for renewable electricity production. Furthermore, the Group has now entered the sector of plastic recycling, with the recent acquisition of Aliplast, and promotes numerous projects for environmental education in schools alongside initiatives for waste reduction through reuse (Scart, Cambia il finale, Ciboamico and Farmacoamico, among others). This recognition confirms and gives new impetus to a strategy which has long been in the works, thanks to which the Hera Group has progressively increased its commitment towards sustainability and a circular economy. Ultimately, it has allowed the Group to quantify - as of the 2016 Sustainability Report - the shared value produced, i.e. the amount of EBITDA generated by pursuing objectives that meet the priorities of the UN's 2030 Agenda (a figure that reached € 300 million in 2016, 33% of the total). Hera's commitment, already in line with EU objectives - reached and surpassed as regards a reduced use of landfills and packaging recycling - can now be seen on an international stage. It thus gains further breadth, qualifying this multi-utility as a protagonist in consolidating models of development that, along the lines set out by the CE100 programme, lead growth and environmental protection to converge. logo testo blu https://www.ellenmacarthurfoundation.org/ce100 Press_Release.1507799175.pdf 2017-10-11 Read more logo_testo_blu.1507715078.jpg The results achieved by the multi-utility in favouring the transition towards a circular economy have once again been recognised, by this pre-competitive innovation programme which was established to enable organisations to develop new opportunities and realise their circular economy ambitions faster sinistra Logo CE100 blu 110

Hera's BoD approves H1 2017 results Financial highlights Revenues at € 2,754.0 million (+10.0%) EBITDA at € 505.9 million (+7.6%) Net profit post minorities at € 141.0 million (+16.5%) Net debt at € 2,611.7 million Operational highlights All the Group’s businesses contributed to growth, the energy area in particular Results marked internal growth Positive effects from recent acquisitions in liberalised markets, above all in the waste area Solid customer base in the energy sectors (over 2.3 million), rising by 140,000 customers compared to H1 2016 Today, the Hera Group’s Board of Directors unanimously approved the consolidated economic results for the first half of the year, which confirm the Group’s ongoing positive trend with all main indicators showing growth. Having reached these results is yet another reward for the Group’s balanced and agile operational stance and for its business model, which has always combined the two strategic levers of internal and external growth. The figures for the first half of 2017 benefitted from Aliplast and a corporate branch of Teseco becoming part of the Group, and from the tenders awarded for default and safeguarded gas supply services for the two-year period 2017-2018. Revenues amount to over € 2.75 billion In the first half of 2017, revenues came to € 2,754 million, with a € 251.2 million (+10.0%) increase over the € 2,502.8 seen in the same period of 2016. This result was supported not only by recent acquisitions but also by a higher amount of trading activity, higher regulated revenues for the water service and the electricity area as well as higher volumes of gas sold. EBITDA rises to € 505.9 million EBITDA settled at € 505.9 million, recording growth for almost € 36 million (+7.6%) compared to June 2016. This increase is due to the good performance shown by all of the Group’s areas, but in particular the energy areas. Positive results were also seen in the integrated water cycle area and the waste area. Growth in pre-tax profits, partially owing to financial management EBIT came to € 262.2 million, with an increase over the € 257.4 million seen in the same period of 2016. Financial charges also improved, settling at € 45.9 million, down € 12.1 million compared to the same period in 2016. This performance was made possible by a lower average debt and more efficient rates. In light of this situation pre-tax profits grew from € 199.4 million at 30 June 2016 to € 216.3 million in the first half of 2017. Net profit post minorities increase to € 141 million (+16.5%) Profit post minorities at 30 June 2017 rose to € 141 million, +16.5% compared to the € 121 seen in 2016. This was due among other things to a notable improvement in the tax rate, which went from 35.7% to 31.6% (thanks in particular to a decrease in the Ires rate and lesser taxes ensuing from the Group’s wider scope of activity). Over € 170 million in investments, and a financial position fundamentally in line with 2016 In the first six months of 2017 the Group’s investments, including capital grants, amounted to € 170.6 million, up by € 13.4 million (+8.5%) over June 2016. Operating investments mainly involved interventions on plants, networks and infrastructures, in addition to regulatory upgrading concerning gas distribution above all, with a large-scale meter substitution, and the purification and sewage area. Net debt remained basically stable, coming to € 2,611.7 million at 30 June 2017 as against € 2,558.9 million at 31 December 2016. The positive cash flows generated in the first half-year, which amounted to € 188.8 million, allowed the annual dividend payment and M&A operations, in particular the acquisition of Aliplast, to be financed. Gas The gas business, which includes services in natural gas and LPG distribution and sales, district heating and heat management, recorded an EBITDA which settled at € 171.8 million in the first half of 2017, up compared to the € 165.2 million seen at 30 June 2016 (+4.0%). This was due to higher volumes of gas sold, higher profits in trading and the larger area covered in default services. The number of gas customers, roughly 1.4 million, rose by 3.5% compared to the same period in 2016. This growth is due to commercial actions, the tenders awarded for default and last resort gas services, and the acquisition of the Abruzzo company Gran Sasso. The gas area accounted for 34.0% of Group EBITDA. Water The integrated water cycle, which includes aqueduct, purification and sewerage services, recorded an EBITDA that went from € 106.6 million in the first half of 2016 to € 111.3 million at 30 June 2017, up by 4.4% thanks to higher revenues for distribution and higher costs recognised. A further positive factor was the contribution coming from the bonus for service quality awarded by regulatory authorities on the basis of the current tariffary method. The integrated water cycle area accounted for 25.1% of Group EBITDA. Waste EBITDA for the waste business, which includes waste collection, treatment and disposal services, rose to € 121.3 million (+4.1%) in the first half of 2017, compared to the € 116.5 million seen at 30 June 2016. This positive trend was supported not only by the purchase of a branch of Teseco and the higher volumes of market waste treated, but above all by the entrance within the Group’s scope of Aliplast, a national leader in plastic recycling, which consolidated the Group’s position in circular economy development. These results are all the more appreciable considering that, as foreseen by the business plan, the end of incentives for renewables had a negative effect on the half-year amounting to over € 6 million. Further enhancement was also seen in sorted waste, which went from 56.9% in the first half of 2016 to 57.6% in June 2017. The waste area accounted for 24% of Group EBITDA. Electricity The electricity business, which includes services in electricity production, distribution and sales, recorded an EBITDA that grew to € 91.6 million compared to the € 73.1 million seen at 30 June 2016 (+25.2%), thanks to higher profits in safeguarded services, sales on the free market and electricity production. The number of customers in this sector also showed an increase of 8.8% (75.2 thousand), mainly due to growth on the free market following commercial actions and a wider customer base. The electricity area accounted for 18.1% 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 financial statement and related materials will be available to the public pursuant to the terms established by law at the Company Headquarters, on the website www.gruppohera.it and on the authorised storage platform 1Info (www.1info.it ). Unaudited extracts from the Interim Financial Statements at 30 June 2017 are attached. Statement by Executive Chairman Tomaso Tommasi di Vignano “H1 2017 reported figures are positive once again, thanks to the solidity of our multi-business model and our ability to combine the two levers of internal and external growth. In addition to the organic growth seen across all of the Group’s business areas, a significant contribution to these results came from the acquisition of Aliplast, consolidated as of this semester, which will act as a key factor in developing our circular economy system”. Statement by CEO Stefano Venier “The results seen in the H1 2017 report confirm the success of the actions aimed at growth deployed on both an operational level and in fiscal and financial optimisation. Our key performance indicators also showed further improvement, as expected by our business plan. Furthermore, we remain focused on creating value for our stakeholders, providing proof once again of the attention given by our Group to all facets of economic, social and environmental sustainability”. 1H 2017 2014-03-19 For further informations 1H 2017 The consolidated first-half report at 30 June confirms growth in all operating and financial indicators, as already seen in the first quarter, and a positive contribution coming from all business areas, with external growth among the factors responsible. /-/hera-s-bod-approves-h1-2017-results-1?inheritRedirect=true Press release centrata Hera's BoD approves H1 2017 results

110 hextra Perseverence, speed and excellence in educational achievement: academic merit was duly rewarded at Hera's offices in Bologna yesterday. A ceremony was held for the Executive Chairman, Tomaso Tommasi di Vignano, to award 40 scholarships to the children of employees who, during the academic year 2015-2016, distinguished themselves for the results achieved in their university studies. The initiative, which is one of the many activities organised by "Hextra", the Hera Group's welfare plan, to support education, was launched last April to reward commitment by adopting objective evaluation criteria, based on the principles of fairness and merit. Indeed, the forty most deserving students were chosen considering a list that was drawn up taking into account the following parameters: whether the student was on track with the study plan for the academic year, the number of credits acquired and the mean marks of examinations passed during the year. The applications submitted to the company were more than 70. Each of the 40 students awarded was given an individual scholarship of 750 euro, amounting to a total corporate investment of 30,000 euro. This is only the latest initiative of the corporate welfare plan that has, since 2017, also been extended to fixed-term employees who have been working at least 6 months. After initially considering the 8,500 people employed by Group companies, Hera has thus taken the final step to fully involve all its staff. "One year after the launch, we are still investing in our welfare plan and in the progress of our employees and their families," said the Executive Chairman Tommasi di Vignano. In one year Hextra achieved remarkable results; hence, we found it natural to extend its efficacy also to fixed-term employees. This decision ranks our company alongside leading international firms. We wish to go on creating value and efficiency for all subjects involved, contributing to protect the portfolio of families in the economically challenging moment the world is experiencing today". Easy Welfare, a company in the sector that reviewed the best practices of over 350 Italian companies, last June awarded the Hera Group at the "Welfare Awards 2017" for the "Best Communication Plan", which recorded the participation in "Hextra" of almost all its staff (97%), recording an overall sum of 1,902,456 euro used by its employees. "Hextra": the Hera Group's welfare plan The Hera Group launched "Hextra" in July 2016. It is an integrated corporate welfare plan that has been studied to make the most of existing initiatives, harmonising its application in all locations where the multi-utility company operates. A standard and yet highly customisable system for all its companies. As a matter of fact, the special feature is the flexible quota that can be allocated as desired by the individual worker, who will decide on the basis of personal and family needs. The sum envisaged for 2017 is 360 euro (against 200 in 2016) and for 2018 is 385 euro. In addition to this, Hera also supports employees with school-age children with an additional contribution to be solely used for schooling expenses. Requests submitted for the year 2016/2017 totalled 3,821, recording an overall amount of over 380,000 euro. 2017-07-27 20170718_foto_gruppo_870x_s1.1500467957.jpg A contribution of 750 euro for every university student, for a total investment of 30 thousand euro. The initiative is part of activities envisaged by "Hextra" to support education. "Hextra" is the multi-utility company's welfare plan that, from this year, has also been extended to employees with a fixed-term contract. welfare_110x150.1470845183.1500391284.png

Energy efficiency "Regarding energy efficiency, operators must be given the time required to obtain investments, and the public must have the opportunity to make the most of it", said Stefano Venier, CEO of the Hera Group, discussing one of the crucial topics of Italian energy policies. Achieving the increasingly ambitious goal of reducing consumptions presents municipalities with new and highly challenging management solutions. In this regard, "finance is not a problem", said Venier, in the introductory notes to the conference 'Financing Energy Efficiency in the Public Administration Sector', held this morning by CESEF (Energy Efficiency Study Centre) in Hera's Bologna offices. Conversely, efficiency enhancing interventions have several tools to obtain the necessary resources". But the system functions effectively only if the division of roles is clearly defined. "The operative setting is crucial for a positive outcome. The Administration establishes goals and targets", said the CEO Venier, "and the operator is required to implement the functional interventions required to achieve them". "Our Group," said Stefano Venier, "has always played a leading role in terms of energy efficiency. With 117 interventions implemented in 2016, we have already cut down consumptions by 2.6%, compared to the 3% goal established for this year, which will be easily overcome as a result of scheduled activities. This is the reason why we reviewed it with an increment, aiming at 5% within 2020". CESEF's Director, Stefano Clerici, said, "The Public Administration Sector must understand the opportunities generated by energy efficiency in economic, environmental and also political terms. Hence, CESEF is building a tool box for energy efficiency in the Public Administration Sector to provide the most appropriate tools to solve the problems that block investments in this framework. Considering funds, it is essential to use the latest public-private partnership agreements that fairly divide the risks of the project between the Public Administration Sector and private operators and attract the abundant resources that are available especially in the banking world". Some success cases in the Public Administration Sector were presented at the conference organised in partnership with Confservizi Emilia Romagna. Participating institutions included the Emilia Romagna Regional Administration, Bologna and Budrio Municipalities, Modena Agency for Energy and Sustainable Development and ANCI Emilia Romagna. Many companies joined the discussion with Hera Luce, a Group member company that ranks second in Italy for public lighting. Best cases presented by Hera Luce included energy upgrading plans that are currently being implemented in some Emilia Romagna municipalities. Energy efficiency 2017-07-27 Read more efficienza_energetica.1501232935.png During the workshop "Financing Energy Efficiency in the Public Administration Sector", organised by CESEF in Hera's Bologna offices, the company's CEO was favourable to the solution adopted for energy management in the Public Administration Sector. Energy efficiency

wsp 110 Water Safety Plans are European protocols for step-by-step monitoring of potable water production and distribution processes. EU Directive 1787/2015 requests, in fact, that member states implement such protocols as soon as possible, and Hera - true to its own history - has no intention of waiting. With a long-standing record of thorough mains water monitoring and outstanding service performance that guarantees - across all served areas - low-priced, high-quality potable water, the multi-utility has now signed an agreement with the Istituto Superiore di Sanità (ISS) to apply, over the two-year period 2017-2018, complete Water Safety Plans on two of its mains water systems. This will allow us to acquire the methodology and develop the skills laid out in the directive guidelines, letting us extend Water Safety Plans to all our mains water systems. This subject will soon be the focus of a conference for industry experts, to be held at the multi-utility's Bologna headquarters on Wednesday 21 June. Key Group managers will be in attendance, as will other institutions/bodies involved in the project. Safety, then, first and foremost. The introduction of a precise, sound standard for all EU states lends further weight to the dedication shown by Hera in recent years. Thanks to extremely early commitment, in fact, the Group has had the infrastructure, analysis facilities and monitoring systems in place - all used on a daily basis - for some time now, allowing our over 3.6 million customers to drink domestic tap water in complete confidence. Guaranteed by no less than 2,000 checks a day, tap water plays a pivotal role in Hera's plans: indeed, the eighth edition of the annual In buone acque ('In good waters') report has now been published, giving a detailed account of every aspect of this essential service. For some years, in fact, the Group has been working alongside Regione Emilia-Romagna and Arpae to develop an application methodology, based on risk analysis, to define water safety plans. That work has resulted in contributions to the Water Safety Plan Guidelines published by the Istituto Superiore di Sanità in 2014 (ISTISAN report 14/21). "As we see it", states Franco Fogacci, Hera Group's Water Manager, "guaranteeing high quality drinking water has always been a top priority, so we can't help but find ourselves in agreement with the framework laid out in the EU Directive. Water Safety Plans", continues Fogacci, "constitute a major challenge for everyone in the industry: we all need to do a great job of providing a response that ensures their effective, accurate implementation. Indeed, I think that Hera's vast experience", concludes the multiutility's Water Manager, "lets us field the skills and resources that help drive such processes, their outcome going beyond the provision of practical services for served areas to provide great examples for other local areas". wsp 2014-03-19 870.1500390469.jpg With years of excellent results behind it, Hera renews its commitment to outstanding potable water quality and, together with the Istituto Superiore di Sanità (Higher Health Institute), aims to apply EU Water Safety Plans to its own mains water systems. A debate on the subject will be held on Wednesday 21st June. wsp 110

Stefano Venier discusses the goals of the UN's Agenda for 2030 The CEO Stefano Venier intervenes at All4thegreen, in view of G7 Environment that will be held in Bologna, to explain the Hera Group's contribution to 10 of the 17 Sustainable Development Goals defined by the UN's Agenda for 2030. The interview touched on several topics, with special focus on the challenges of energy efficiency and circular economy, which was discussed during the conference that was recently held in the Bologna offices of the multi-utility company on 6 June. An important occasion to underscore the virtual link between sustainability, economic growth and social benefits, and also to explain how the commitment to promote separate waste collection and recycling has enabled Hera to achieve, before others, important goals established by the European Union for 2025 and 2030, thus providing a practical answer to the demands of local bodies and of clients who are increasingly keen on themes of green economy. [block]div:row-fluid::db:hr_press_comunicazione::box:69[/block] Stefano Venier discusses the goals of the UN's Agenda for 2030 https://www.youtube.com/watch?v=NKl1XzGwDF0#prettyPhoto 2017-07-27 venier_big_opt.1497006706.png The CEO Stefano Venier intervenes at All4thegreen, in view of G7 Environment that will be held in Bologna, to explain the Hera Group's contribution to 10 of the 17 Sustainable Development Goals defined by the UN's Agenda for 2030. The interview touched on several topics, with special focus on the challenges of energy efficiency and circular economy, which was discussed during the conference that was recently held in the Bologna offices of the multi-utility company on 6 June. Stefano Venier discusses the goals of the UN's Agenda for 2030

Creativity and innovation [block]div:row-fluid::db:hr_press_comunicazione::box:68[/block] Events related with G7 Environment touch core topics with the conference organised by Hera on circular economy in its Bologna offices. The initiative offers the opportunity to present the sustainability report of the multi-utility company, and witnessed the presence, among others, of the Minister for the Environment, Gian Luca Galletti. He pointed out the central role played by circular economy in the framework of the 4th industrial revolution we are experiencing, underscoring the important progress made by regional administrations, such as Emilia-Romagna. Many leading figures from the business world, institutions and research bodies attended the event organised by Hera today to discuss the transition towards increasingly sustainable development models. Key participants included Enrico Giovannini, Professor of Economic Statistics at the University of Rome; Oscar Farinetti, creator and founder of Eataly; Catia Bastioli, CEO of Novamont S.p.A., and Carlo Ratti, Director at the MIT of Senseable City Lab, just to mention a few. They were preceded by Ellen MacArthur's presentation, who is also known for the namesake foundation, which is the most active and important organisation in the world on the scene of circular economy. "Carbon resources will be depleted over a period of 100 years", said Ms MacArthur, "but saving resources will not suffice. We can adopt it to gain time for the transition from linear economy to circular economy that severs the link between scarce resources and our growth prospects by focusing on innovation, education, training and new generations." [block]div:row-fluid::db:hr_press_comunicazione::box:69[/block] Moreover, "Innovation" and "creativity" are the key words of the conference organised by Hera that, through its senior management, spoke about its commitment for sustainability, showing that the Group is strongly committed to 10 of the 17 goals on the UN's Agenda for 2030. The new version of the sustainability report particularly accounts for the "shared value", namely wealth generated by Hera in pursuing the goals of the Global Agenda. Equal to 1/3 of the overall gross operating margin, the shared value of the multi-utility company amounts to 300 million euro for 2016. Said amount was obtained by focusing on three strategic sectors, namely the intelligent use of energy (with 48 million euro generated by promoting energy efficiency, and 29 million euro by making greater use of renewable energy); the efficient use of resources (with 110 million euro obtained by pursuing the transition to a circular economy, and 83 million euro obtained through sustainable management of water resources); innovation and development in the local area (with 18 million euro resulting from innovative projects and digitalisation, 11 million euro for the protection of air and soil, and 35 million euro for the economic development of local communities and social inclusion projects). "These moments of discussion are very important", says Tomaso Tommasi di Vignano, Hera Group's Executive Chairman, because they confirm the international framework of the excellent results achieved by Hera in terms of development of circular economy. Tommasi goes on to say, "What is at stake is the acceleration of a transition that requires everybody's contribution, with special reference to the need for a stable and more homogeneous regulatory framework that can encourage planning, investments and consolidation processes, which are essential, in the long term, for sustainable and lasting growth". 2017-07-27 Creativity and innovation

HeraSostenibile: facciamo circolare le buone idee On Tuesday, 6 June, at 9.30 am, join #HeraSostenibile and follow the Twitter live broadcast of the conference on circular economy sponsored by the Hera Group. The event will also offer an opportunity to present the 2016 Sustainability Report and to discuss creativity, innovation and corporate models 4.0. Hera's event is organised as part of the scheduled initiatives that will be held in Bologna on 5-12 June with reference to G7 Environment meetings. The Hera Group considers the conference an opportunity to open its official channel on Twitter. It will be an additional tool to communicate all the latest news and to improve interaction with its stakeholders. 2017-07-27 On Tuesday, 6 June, at 9.30 am, join #HeraSostenibile and follow the Twitter live broadcast of the conference on circular economy sponsored by the Hera Group. The event will also offer an opportunity to present the 2016 Sustainability Report and to discuss creativity, innovation and corporate models 4.0. Hera's event is organised as part of the scheduled initiatives that will be held in Bologna on 5-12 June with reference to G7 Environment meetings. The Hera Group considers the conference an opportunity to open its official channel on Twitter. It will be an additional tool to communicate all the latest news and to improve interaction with its stakeholders. HeraSostenibile: facciamo circolare le buone idee

110 SCART [block]div:row-fluid::db:hr_press_comunicazione::box:64[/block] There are portraits of famous people and sculptures of animals. But above all, they are works of art made by means of reuse of waste materials destined for disposal. Precisely for this reason, they are part of "Scart: the Beautiful, Useful Side of Waste", a travelling exhibition that hosts the work of students from the Academies of Fine Arts of Bologna and Florence. Created in collaboration with Waste Recycling, a Herambiente Group company, the exhibition is free and open to all; its first stop is in Ravenna. Exhibited at Palazzo Rasponi from 5 to 21 May, it can be visited from 4 pm to 7 pm every day except Mondays. In the coming months the exhibition will stop in the cities of Imola and Modena. Accompanied by a catalogue curated by art critic and former director of the Museum of the City of Ravenna, Claudio Spadoni, the Scart exhibition is addressed to a wide audience, particularly children, with various educational and creative workshops offered on Saturdays 6, 13 and 20 May, also provided free of charge. Thanks to these workshops, children will be involved in various creative activities which encourage thought about environmental issues, focusing on problems and approaching the possible solutions through recycling and reuse. Adults can instead "lose themselves" among the exhibition's halls, and be surprised by the thousands of forms that matter can take on when it passes through the regenerating power of art. The faces of Lucio Dalla, Marilyn Monroe, Frida Kahlo, Mother Teresa, David Bowie and still others will share the stage with more sculptural works depicting various animals which, in Spadoni's words, make up "a heterogeneous bestiary of fun, in some cases carefree, with Dadaist-Surrealist tones". The Hera Group thereby continues the Scart tradition: the project was originally organized by Maurizio Giani, CEO of Waste Recycling, over 18 years ago to positively affect the mentality towards recycling and reuse, precisely through art. An integral part of the multi-utility company's daily commitment to circular economy, Scart faces these challenges in an absolutely innovative fashion, undertaking a new path toward a type of reuse and recycling that recognizes an increasing value in waste, giving it unlimited life and transforming it from a cost into a resource. "We are very pleased that a local company as important as Hera - says the Councillor for Cultural Activities of the Municipality of Ravenna, Elsa Signorino, - interprets the sense of their own work with this spirit, contributing to consolidating a culture of sustainability through art which, together with our citizens, we wholeheartedly support. Additionally, our relationship with Hera in Ravenna has always been oriented to the promotion of many cultural initiatives, and it is wonderful that a multi-utility company leverages the profile of its territorial roots in this way, in the interest of the community and in cooperation with the municipal administration". "Art is not a side-effect of matter - says Tomaso Tommasi of Vignano, Executive President of the Hera Group - but constitutes regeneration that can inspire all other regenerations which the circular economy that Hera works towards every day is based on, through people, means, processes and facilities. In this sense, the Scart project expresses important values that touch the heart of our mission. We are therefore very pleased - concludes Tommasi - to have created an exhibition which, in addition to highlighting the important collaboration with the students of Art Academies, is also worthy because it brings the fruit of their work to various cities touched by our services, in an attempt to initiate, so to speak, the virtuous contagion of ideas and emotions". 2014-03-19 Free and open to all, the exhibition of artwork produced using waste materials can be visited from 5 to 21 May in the halls of Palazzo Rasponi. The Hera Group project, carried out in collaboration with the Academies of Fine Arts of Bologna and Florence, also provides educational workshops for children. scart.bmp

Financial highlights Revenues at € 1,585.5 million (+28.3%) EBITDA at € 306.8 million (+10.2%) Net profits for Shareholders at € 109.9 million (+20.5%) Net debt at € 2,548.7 million Operational highlights Good contribution to growth coming from all businesses, especially the energy sales area Solid customer base in the energy sectors, increasing to roughly 2.3 million customers Management geared towards creating efficiencies and synergies Net debt shows further improvement during the quarter, in spite of the recent acquisitions of Aliplast and Teseco Today, the Hera Group’s new Board of Directors, appointed on 27 April 2017, unanimously approved the consolidated first quarter results, which confirm a rising trend in all main indicators. These positive results were supported by the organic growth ensuing from market expansion, which involved recently awarded tenders for default gas and safeguarded electricity services. Efficiencies and synergies were simultaneously pursued, alongside M&A activities concerning above all acquisitions in the energy area carried out in 2016 (Julia Servizi and Gran Sasso), with the contribution coming from Teseco and Aliplast not yet recorded. Revenues reach almost € 1.6 billion In the first quarter of 2017, revenues amounted to € 1,585.5 million, with a sharp increase over the € 1,235.4 seen in the same period of 2016. This result reflects, in addition to a change in the assignment of general system charges introduced by current regulations, a larger amount of trading, higher regulated revenues in water services and the electricity area, and increased volumes of gas sold owing to climatic factors. EBITDA rises to € 306.8 million EBITDA passed from € 278.4 million in the first three months of 2016 to € 306.8 million at 31 March 2017, recording a growth of over € 28 million (+10.2%). This growth is accounted for by the good performances seen in all Group areas, in particular in the energy areas. These results were also influenced by the acquisitions made during 2016. Operational results and pre-tax profits up, financial management improves Operating profits at 31 March 2017 came to € 187.3 million, up over the € 170.8 million seen in the same period of 2016 (+9.7%). Financial management improved by € 2.6 million, amounting to € 23.1 million at the end of the first quarter, thanks to a good contribution coming from affiliated companies and higher income from safeguarded customers. In light of this, pre-tax profits went from € 145.1 million in the first quarter of 2016 to € 164.2 million in the same period in 2017, showing a further increase in the rate of growth (+13.2%). Net profits for Shareholders grow, reaching roughly € 110 million (+20.5%) Profits pertaining to Group Shareholders at 31 March 2017 rose to € 109.9 million, up 20.5% compared to the € 91.2 million seen in 2016. A considerable improvement in the tax rate was among the factors responsible, going from 33.3% to 29.8% (thanks to a decrease in the Ires rate, benefits ensuing from the application of the “patent box” and tax credits for research and development, as well as tax breaks for maxi amortisations). Over € 150 million in investments and a slight improvement in net debt, in spite of recent acquisitions In the first three months of 2017, Group investments amounted to € 154.1 million, including the acquisition of a financial holding in the Aliplast Group and the plant branch of Teseco, without which the amount is in line with the same period in 2016 (€ 68.5 million). Operating investments mainly concerned interventions on plants, networks and infrastructures, to which one must add regulatory upgrading above all in the gas area, involving a large-scale meter substitution, and the purification and sewerage areas. Net debt settled at € 2,548.7 million, with a slight drop compared to the € 2,558.9 million recorded at 31 December 2016, thanks to the positive and rising cash flow generation which allowed, among other things, the recent acquisitions to be financed. The net debt/EBITDA ratio, calculated on a rolling 12-month basis, therefore settled at 2.7, highlighting an improvement in financial solidity. Gas The gas area, which includes services in natural gas and LPG distribution and sales, district heating and heat management, recorded an EBITDA that settled at € 135.6 million in the first quarter of 2017, increasing over the € 130.3 million seen at 31 March 2016 (+4.1%) thanks to higher volumes of gas sold and the wider scope of the service offered. The number of gas customers rose to almost 1.4 million, up 4.2% over the same period in 2016, thanks to commercial actions, the new portions of the default service awarded and the two acquisitions recently carried out in Abruzzo (Julia Servizi and Gran Sasso). The gas area accounted for 44.2% of Group EBITDA. Water cycle EBITDA for the integrated water cycle area, which includes aqueduct, purification and sewerage services, went from € 49.8 million in the first quarter of 2016 to € 53.3 million in the first three months of 2017 (+6.9%), thanks in particular to higher revenues from delivery. A premium for service quality also contributed to the results, granted by the regulatory authorities based on the current tariffary method. The integrated water cycle area accounted for 17.4% of Group EBITDA. Waste The waste area, which includes waste collection, treatment and disposal services, recorded an EBITDA which went from € 62.4 million in the first quarter of 2016 to € 64.0 at 31 March 2017 (+2.6%). This trend is explained by both the good performances in the urban hygiene sector and the higher volumes of market waste treated. The operational status of the Ravenna and Imola plants in the first quarter of 2017, indeed, allowed free market activities to increase by roughly 8%. These good results were able to more than offset the impact of the end of incentives for renewables, largely linked to a WTE plant in the Molise reagion (roughly -3 million). As regards the company Aliplast, instead, given that the acquisition was formally concluded on 3 April 2017, it will contribute to the Group’s half-year results. Good results were seen in the area of sorted waste as well, which rose to 57.5%, compared to the 56.2% seen in the first three months of 2016, thanks to the wide range of projects implemented across all areas served. The waste area accounted for 20.9% of Group EBITDA. Electricity EBITDA for the electricity area, which includes services in electricity production, distribution and sales, rose from € 31.6 million in the first quarter of 2016 to € 48.4 million at 31 March 2017 (+53.2%), thanks above all to a higher amount of sales on the free market and the safeguarded market, as well as profits in electricity production. In this area, furthermore, the number of customers increased to over 900,000 (+5.6% compared to Q1 2016), thanks among other things to reinforced commercial action and the acquisition of customers from the Abruzzo companies. The electricity area accounted for 15.8% 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 interim management report and related materials will be available to the public at Company Headquarters and on the website www.gruppohera.it. Unaudited extracts from the Interim Financial Statements at 31 March 2017 are attached. PROFIT & LOSS (M€) 31/03/2017 INC% 31/03/2016 INC.% CH. CH. % Sales 1,585.5 1,235.4 +350.1 +28.3% Other operating revenues 82.1 5.2% 73.7 6.0% +8.4 +11.4% Raw material (732.2) -46.2% (608.5) -49.3% +123.7 +20.3% Services costs (488.8) -30.8% (281.7) -22.8% +207.1 +73.5% Other operating expenses (12.0) -0.8% (12.1) -1.0% -0.1 -0.8% Personnel costs (137.2) -8.7% (132.9) -10.8% +4.3 +3.2% Capitalisations 9.4 0.6% 4.6 0.4% +4.8 +104.8% Ebitda 306.8 19.4% 278.4 22.5% +28.4 +10.2% Depreciation and provisions (119.5) -7.5% (107.6) -8.7% +11.9 +11.1% Ebit 187.3 11.8% 170.8 13.8% +16.5 +9.7% Financial inc./(exp.) (23.1) -1.5% (25.7) -2.1% -2.6 -10.1% Pre tax profit 164.2 10.4% 145.1 11.7% +19.1 +13.2% Tax (48.9) -3.1% (48.4) -3.9% +0.5 +1.0% Net profit 115.3 7.3% 96.8 7.8% +18.5 +19.1% Attributable to: Shareholders of the Parent Company Minority shareholders 109.9 5.4 6.9% 0.3% 91.2 5.6 7.4% 0.5% +18.7 -0.2 +20.5% -3.5% BALANCE SHEET (M€) 31/03/2017 INC% 31/12/2016 INC.% CH. CH. % Net fixed assets 5,663.7 108.3% 5,564.5 108.7% +99.2 +1.8% Working capital 121.6 2.3% 99.9 2.0% +21.7 +21.7% (Provisions) (553.8) (10.6%) (543.4) (10.7%) (10.4) +1.9% Net invested capital 5,231.5 100.0% 5,121.0 100.0% +110.5 +2.2% Net equity 2,682.8 51.3% 2,562.1 50.0% +120.7 +4.7% Long term net financial debt 2,757.3 52.7% 2,757.5 53.9% (0.2) +0.0% Short term net financial debt (208.6) (4.0%) (198.6) (3.9%) (10.0) +5.0% Net financial debts 2,548.7 48.7% 2,558.9 50.0% (10.2) (0.4%) Net invested capital 5,231.5 100.0% 5,121.0 100.0% +110.5 +2.2% 1Q 2017 2017-05-08 For further information 1Q 2017 Consolidated first quarter report shows growth in all operational-financial indicators and a positive contribution coming from all business areas, alongside continuing improvement in net debt. /documents/1514726/4210734/Hera_Group_Consolidate_quarterly_report_as_at_31_march_2017.1494411806.pdf/431600c0-8838-3de5-7c9a-80eacf5f0884?t=1597908154820 /-/hera-board-of-directors-approves-1q-2017-results-1?inheritRedirect=true /documents/1514726/4210734/Hera_Group_Newsletter_Q1_2017_eng.1494402651.pdf/a7f8511a-3667-8939-9631-07f3357634fe?t=1597908153812 /documents/1514726/4210734/Dati_finanziari_ed_operativi_di_sintesi_1Q_2017_eng.1494320025.xls/5c33e18f-6c76-66b0-43fa-a1bd7751036f?t=1597908153470 Financial report as at 31/03/2017 Press release Newsletter as at 31/03/2017 Financial data as at 31/03/2017 centrata Risultati finanziari

Hera's General Meeting of Shareholders Number of directors passes from 14 to 15, with an additional member representing minority shareholders. Increased presence of women in the Board of Directors and the Board of Statutory Auditors Hera’s Ordinary Shareholders Meeting took place in Bologna this morning. Among the various resolutions adopted, the Meeting appointed the members of the Board of Directors and the Board of Statutory Auditors for the upcoming three years. In addition, the 2016 financial statements were approved, as was the resulting payment of a dividend set at 9 cents per share. Approval of financial statements and dividend at 9 cent./share In its ordinary session, the Meeting approved the financial statements for 2016, which showed improvement in all operating-financial indicators, with results exceeding expectations. The presentation of the sustainability report, furthermore, confirmed the Group’s ever greater attention towards sustainability in all its facets. The key factors in this success, that allowed it to continue its growth in spite of an increasingly challenging regulatory and market scenario, were once again the Group’s consolidated multi-business strategy and its combination of internal and external growth. The 2016 financial year closed with revenues reaching € 4,460.2 million, in line with the previous year, EBITDA at € 916.6 million (+3.6%) and net profits for Shareholders at € 207.3 million (+14.8%). The Meeting therefore approved the Board of Directors’ proposal of paying a dividend of 9 cents per share, in line with the amount paid one year earlier and already announced in the business plan to 2020. It is worth mentioning that this same business plan, in reaffirming a high degree of attention towards the creation of value for shareholders as well, projects an increase in forecasted earnings and a dividend policy showing growth over its historical trend (beginning with the amount paid in 2018), with a gradual change over the upcoming four-year period of 11%. The ex coupon date has been set at 19 June 2017, with payment beginning on 21 June 2016. The dividend paid, based on the price of Hera stock at 31/12/2016, corresponds to an annual return of over 4%. Renewal of the Board of Directors, with an additional director representing minority shareholders Furthermore, the Board of Directors was renewed for the upcoming three years (in office until the Meeting held to approve the financial statements for 2019), with its components passing from the previous 14 to the current 15 members, with an additional director representing minority shareholders. This came about in implementation of the amendment of the Articles of Association (approved by the Shareholders Meeting held on 28 April 2015) calling for an increase, as of 2017, of the number of current members of the Board of Directors from 14 to 15, 4 of whom (instead of 3) to be elected from the lists presented by minority shareholders. As per the outcome of the voting, the following have been appointed to the Board of Directors: Majority list (representing Hera's public shareholders' Agreement): Tomaso Tommasi di Vignano, Stefano Venier, and the independent directors Giovanni Basile, Giorgia Gagliardi, Stefano Manara, Danilo Manfredi, Giovanni Xilo, Sara Lorenzon, Marina Vignola, Aldo Luciano, Federica Seganti. Minority list: the independent directors Massimo Giusti, Erwin Paul Walter Rauhe, Francesca Fiore, Duccio Regoli. Renewal of the Board of Statutory Auditors As regards the Board of Statutory Auditors, the following were appointed: Majority list (representing Hera's public shareholders' Agreement): Marianna Girolomini, Antonio Gaiani (standing auditors), Valeria Bortolotti (alternate auditor) Minority list: Myriam Amato(President), Stefano Gnocchi (alternate auditor) Increased presence of women in the Board of Directors and the Board of Statutory Auditors The composition of the Group's corporate bodies fully implements the provisions contained in Law no. 120 of July 12, 2011 (already transposed into Hera's Articles of Association by the 2013 Shareholders Meeting), which introduced the principle of gender balance in the corporate positions of listed companies. To this end, the law foresees that the breakdown of directors and statutory auditors to be elected be reached in such a manner that the least represented gender obtains at least one third of the members of the Board of Directors and of the Board of Statutory Auditors. The presence of women thus comes to 5 out of the 15 members of the Board of Directors and 2 out of the 3 standing members of the Board of Statutory Auditors. Other resolutions approved The Meeting approved the renewal of its authorisation for the Board of Directors to purchase treasury shares (and arrangements for their disposal), for a maximum amount of € 180 million over 18 months. This authorisation renewal was requested to pursue the aims allowed by current regulations and accepted market practices, including investment opportunities involving the use of treasury shares to increase the creation of value and any acquisitions of holdings that also involve equity trading. The Meeting furthermore confirmed remuneration policies for members of the Board of Directors, maintaining unchanged the amount due. Lastly, the reports on corporate governance was put to the Meeting's attention, which contains a few changes in line with international best practices. Hera top management confirmed The session dedicated to the assignment of Hera's Board of Directors, appointed this morning by the multi-utility's Shareholders Meeting, was held this afternoon in Bologna. The Board appointed the Chairman, the Vice Chairman and the CEO. Tomaso Tommasi di Vignano was confirmed as Hera's Chairman, acting as executive administrator. Born in Brescia, he has been guiding the Hera Group since it was created in 2002, after accumulating at length experience in telecommunications and in the utility sector. Giovanni Basile was confirmed as Hera's (non-executive) Vice Chairman. He has held this office since 2014. Born in Modena, a licensed accountant and auditor, he is a board member and statutory auditor of a number of companies and non-profit organisations in Italy and abroad. Stefano Venier was confirmed as CEO. Born in Udine, he has been part of Hera since 2004, previously holding the position of Development and Market General Director. Prior to that, Venier held positions with increasing responsibility in the Eni Group and at a leading international consulting firm, in which he acted, between 2002 and 2004, as Vice President for Energy & Utilities. Continuity in corporate governance policies has therefore been reaffirmed as one of the Hera Group's main strengths, as shown by a study by Kepler Cheuvreux dating to 14 February 2017 of the four local utilities, in which Hera was positively evaluated thanks to no other than its stable governance and management credibility, along with its solid foundations, low-risk growth strategy, future growth opportunities and attractive dividend policy. 2017 Annual Shareholders' Meeting https://www.youtube.com/watch?v=fsxyokCvJ_g&rel=0#prettyPhoto 2014-04-23 For further information 2017 Annual Shareholders' Meeting Number of directors passes from 14 to 15, with an additional member representing minority shareholders. Increased presence of women in the Board of Directors and the Board of Statutory Auditors /-/hera-shareholders-meeting-corporate-offices-renewed-and-9-cent-dividend-approved-1?inheritRedirect=true /group_eng/corporate-governance/shareholders-meetings Price sensitive press release Go to Shareholders' meetings section centrata 110_Ass.1493215127.bmp