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Business Plan to 2027, operating and financial highlights 2027 Ebitda: 1.650 billion euro (+27% compared to 2022) Five-year investments at 4.4 billion euro Increased return on net invested capital, from 7.9% to 9.5% in 2027 Net debt/Ebitda below 3x over the period covered by the Plan: 2.7x in 2027 7% average annual increase in Earnings per Share Dividends to rise by 28% (up to 16 €cents per share in 2027) Average annual Total Shareholder Return (TSR) at 12%. Business highlights: sustainable growth 2.5 billion euro in investments aligned with the European Taxonomy for Sustainable Investments (98% of eligible investments) Shared-value investments coming to over 70% during the entire five-year plan Increase in shared-value Ebitda, up to over 55% in 2027, reaching 64% of total Ebitda Commitment to reduce total CO2 emissions by 29% within 2027 and by 37% within 2030 confirmed 30% of the investment plan goes towards digitisation and infrastructure innovation 40% of the investment plan contributes to increasing the climate-change resilience of the Group’s infrastructures 10 billion euro distributed over the five-year period 2023-2027 to stakeholders in the areas served by the Group Highlights from 2023 preliminary results Ebitda expected to rise over 1,480 million euro (+14%) Net debt/Ebitda ratio expected to settle below 2.6x (from 3.3x in 2022) Dividend expected at 14 euro cents (+12% over 2022), higher than forecast by the Plan The Hera Group’s Board of Directors, chaired by Cristian Fabbri, reviewed the preliminary results for 2023 and approved the Business Plan to 2027. Growth in all main key operating and financial indicators, from Ebitda to ROI, earnings per share and dividends, accompanies a focus on financial balance, with net debt/Ebitda ratio stably below 3x. The significant investment plan allocated for the 2023-2027 five-year period will support numerous projects and accelerate activities geared towards strengthening resilience and generating shared value and sustainable development. Hera thus confirms itself as a solid point of reference in its reference markets responding to the challenges of the external context and enabling the ecological, energy and digital transition, the circular economy and resource protection. Cristian Fabbri, Executive Chairman of the Hera Group: “4.4 billion in investments aimed at industrial development, sustainable growth and resilience underpin our projections of the Ebitda coming to 1.65 billion euro in 2027, up 28% compared to 2022, along with a dividend increase of 5% CAGR. 40% of capex plan will contribute to making our infrastructures even more resilient. A 29% reduction in carbon emissions and our commitment to resource regeneration are concrete examples of our contribution to the ecological transition, and the Ebitda generated by activities that also meet the targets set out in the UN Agenda will rise to 64%. Furthermore, over the five years covered by the Plan we will distribute 10 billion euro to the stakeholders. This Plan fully responds to our Group’s purpose: to generate sustainable value by promoting a ‘just’ transition. The record growth in Ebitda seen in 2023, which we expect to come to over 1.48 billion euro, and the considerable decrease in debt, with the net debt/Ebitda ratio expected below 2.6x, are promising indications and fundamental building blocks of this Business Plan. They are matched by the provisional awarding of more than one million customers in the Italian electricity market liberalization process, allowing us to more rapidly reach 4.3 million energy customers and to consolidate our position as Italy’s third largest operator in this sector.” Orazio Iacono, CEO of the Hera Group: “With Ebitda expected to reach almost 1.5 billion euro in 2023, and financial leverage strongly improving to less than 2.6x, we will meet and exceed the targets set out in the previous Business Plan to 2026 three years ahead of schedule. These results prove the validity of our Group’s strategic vision in seizing market opportunities and our commitment towards sustainable growth in the areas served. This commitment has been confirmed once again by our new Business Plan, with shared-value Ebitda expected to exceed 1 billion euro in 2027, showing a 55% increase in absolute terms over 2022-2027, higher than the growth rate of overall Ebitda, testifying to the growing importance of initiatives that not only generate margins for our company, but are also in line with the objectives found in the UN Agenda. More than 70% of the investments made over the time covered by the Plan will indeed be allocated to sustainability projects that benefit all our stakeholders. Regarding our various businesses, the next five years will see an important contribution to growth in the Group’s results coming from all activities, in particular the waste management sector, thanks to our strategy that leverages a portfolio of global waste services that will further strengthen our leadership in this market, and the networks sector, which will see a significant investment plan, accompanying the areas served towards the green transition.” Business Plan to 2027 The strategic objective underlying the Hera Group’s new Business Plan is to create value benefitting all stakeholders, thanks to financial, environmental and social sustainability objectives, along with a business model and an industrial structure that are resilient to the negative effects of climate change and external market crises. Creating value: 2027 Ebitda up to 1.650 billion and dividend up to 16 €cents (+28%) The projects planned will bring overall Ebitda to more than 1,650 million euro in 2027, with a 355 million euro improvement compared to the 2022 result. Taking into account a number of business opportunities that will no longer be present during the time covered by the Plan and that contributed with roughly 120 million euro to the 2022 result, the growth will reach 475 million euro with an average annual rate coming to 7%. Sustainable growth to support the ecological transition: shared-value Ebitda at 64% in 2027 and economic contribution to local areas at 10 billion euro The Hera Group has confirmed its focus on the circular economy and decarbonisation, in order to encourage and support the ecological transition of the areas served with initiatives aimed at citizens, public administrations and industrial customers, offering its extensive set of plants and the know-how it has accumulated in various business sectors. The initiatives set out in the Business Plan to 2027 make it possible to project a path that is perfectly consistent with achieving the industrial objectives to 2030 in terms of circular economy and decarbonisation. As regards the circular economy, for example, the route to be followed confirms 2030 targets such as an increase in recycled plastics (+150% compared to 2017) and the reuse of wastewater (reaching 18% of total wastewater by 2030). Balanced growth in the multi-business portfolio and increased resilience The Business Plan expects growth to be equally distributed among the three main lines of business (networks, energy and waste management), maintaining their current balance. Continuity is also expected in the Group’s development model, which has ensured a high degree of resilience in results within all scenarios witnessed over the last twenty years, allowing for uninterrupted growth in both sustainability targets and operating-financial and service performances. Total investments at 4.4 billion euro, with additional projects funded by 400 million in grants coming from the NRRP and other institutions The investment plan amounts to 4.4 billion euro, 48% of which will go to development initiatives and M&As. 55% of investments will be earmarked for regulated businesses, while the remaining 45% will support growth in free-market businesses. The over 870 million euro invested each year on average will accelerate the Group’s commitment to the ecological transition (with roughly 60% of the entire investment plan going to decarbonisation and the circular economy) and to generate sustainable development in the areas served. In this sense, more than 70% of the investment plan will be allocated to initiatives capable of creating shared-value Ebitda. In light of the introduction of the new aspects related to the European Taxonomy, the Group estimates that operational investments coming to 2.5 billion euro (or 98% of eligible investments) will be aligned with the requirements of the European framework, and will therefore be able to gain full access to subsidised sustainable finance instruments, with benefits in terms of financial costs as well. For further information Press release Investors web area Hera Overview img_banner_piano_industriale_2027_primo_piano_eng.png Development, resilience and creating shared value for stakeholders are at the heart of the Group’s new strategic document, which foresees investments totalling 4.4 billion to speed up the ecological transition and enhance asset resilience to climate change 110x150_Business_Plan_2023-2027_EN.jpg

We are certified Top Employer for the 15th year in a row, ranking among the top three Italian companies, standing out for employment policies. Awarded by the Dutch Top Employers Institute, a global certifying body for HR excellence, this is among the most prestigious international recognitions for companies meeting high standards in human resources management. The certification is granted after a meticulous and increasingly selective annual analysis, focusing on specific parameters such as remuneration policies, working conditions, career opportunities, corporate culture, training and people development. Well-being of individuals, training, professional growth, and enhancement of individual skills with a focus on people and their talents: these are the key assets that have earned us the recognition. The role of HerAcademy, our corporate university founded in 2011 and the first of its kind in Italy in the multiutility sector, has proved vital. Through competence development, the academy guides individuals and the organization in addressing changes in view of the ongoing energy, environmental, digital, and technological transition. An example is the training center in Ferrara. This multifunctional facility - among the first in the country - is equipped with innovative tools and provides hands-on learning for safe operations on water, gas, and electric networks. A real training ground that offers an ideal space for experimenting and developing specific technical skills. On the welfare front, involving 99% of the company's population, we invest over 6 million euros annually. Each worker can allocate his per capita shares for health benefits, insurance, social security, personal services, well-being and income support. The plan is highly flexible, as workers may even convert part of their performance bonuses into services. It is an inclusive plan that leaves no one behind and makes no distinction between contractual levels. For further information Press release img_primo_piano_top_employer (1).png Once again in 2024, we confirm our position among the best performers in human resources management, thanks to substantial investments in welfare, training, and skill development Heracademy_110.jpg

for the fourth year in a row, we were included in the Dow Jones Sustainability Index, in both the global and European indices. The composition of the DJSI, the authoritative international stock market index, includes the best performing listed companies in the Environmental, Social and Governance & Economics dimensions. We achieved the highest score in the Environmental and Social areas among the companies in the Multi-Utility & Water sector included in the indices. This inclusion provides further recognition of the company’s achievements in creating shared value benefitting all stakeholders in line with our purpose. For further information Press release Visit Sustainability web area primo_piano_GH_sede-centrale.png Once again recognizing decades-long strategy for long-term value creation for shareholders and for all stakeholders new_sede_hera_110.jpg

The Hera Group, acting through its subsidiary Hera Comm, and Ascopiave signed a deed of transfer from the latter of a 15% shareholding in EstEnergy, for a counter value of 137.5 million euro. EstEnergy is the commercial joint venture established in 2019 that with over one million customers is North-Eastern Italy’s largest energy operator. As a result of today’s transaction, the Hera Group’s holding in EstEnergy rises to 75%, while Ascopiave’s falls to 25% of the share capital. The right to sell this shareholding remains unchanged, at the previously defined conditions, and the current governance rights are maintained. This transaction will allow the Ascopiave Group to improve the sustainability of its asset structure, consistently with the goals in its strategic plan, contributing to the financial coverage of medium-term investments in core and diversification activities. For further information Press relase sede-hera_870.png Following Ascopiave’s partial exercise of the put option, the Hera Group, through its subsidiary Hera Comm, now holds 75% of EstEnergy, the largest energy operator in North-Eastern Italy new_sede_hera_110.jpg

Financial highlights Ebitda* at 1,006.8 million euro (+15.1%) Net profit attributable to shareholders* at 235.5 million euro (+10.0%) Net investments and corporate acquisitions at 593 million euro (+18.7%) Net financial debt and net debt/Ebitda* ratio show considerable improvement, coming to 4,148.9 million euro and 2.91x respectively ROI also improves, rising to 9% Operating highlights Significant contribution to growth coming from the energy sectors and the waste management area Ongoing growth in the energy customer base, now at 3.8 million, up 8.9% over 12 months Further initiatives for the green transition and increased investments in innovation, reinforcing the resilience of the assets managed Today, the Board of Directors of the Hera Group, chaired by Cristian Fabbri, unanimously approved the consolidated results at 30 September 2023. The first nine months of the year saw rising investments and record results compared to previous years, showing remarkable resilience when faced with extreme weather events in the area served and a global context that remains uncertain and continues to show widespread increases in inflation and in the cost of money. In particular, the significant investments reflect the Group’s commitment to boosting the resilience of the assets managed and its ongoing focus on projects designed to accelerate the green transition, fully respecting its corporate purpose. Cristian Fabbri, Executive Chairman of the Hera Group: “This period’s results show a relevant creation of value for all stakeholders. In the first nine months we reached over 1 billion of Ebitda, which shows a double-digit growth of 15%. We furthermore increased capex and investments by 19% and achieved a 9% return on invested capital, while continuing to reduce financial debt. All of our businesses contributed to this growth, more than 80% underpinned by Energy supply business due to a 9% increase in customer base, which reached 3.8 million, and further expansion of decarbonisation services. Another significant factor was the contribution coming from last resort markets, which we consolidated in September by winning 17 of the 18 available gas lots. Internal growth and the 5 corporate transactions carried out during these nine months were driven by innovation, resilience, decarbonisation and the circular economy. All of this contributed to an increase in shared-value Ebitda, now over 54% of total Ebitda, which continues to generate incremental benefits for all areas served. We are rapidly following the path for development set out in the business plan, by keeping our business portfolio balanced and seizing opportunities for creating value that allow us to accelerate its implementation.” Orazio Iacono, CEO of the Hera Group: “The effectiveness of our management decisions and our solid multi-business industrial strategy enabled us to achieve positive economic and financial results and, in particular, to further strengthen our leadership in the waste management sector, posting a raising Ebitda and on the back of larger volumes of waste treatments. In a partnership with ACR, which recently joined the Group, we won important concessions in the private oil&gas sector and are participating in tenders to access PNRR funds to reclaim public sites. Thanks to our positive cashflow and strong financial position, we achieved a net debt/Ebitda ratio coming to 2.91x, similar to the one seen before the sharp rise in energy prices. This financial soundness gives us all the flexibility we need to take advantage of new opportunities for development in our target markets. Finally, we are particularly proud of the recognition we received from Arera for the technical quality of our services, particularly in the water business, where we achieved the best performance nationwide.” Revenues at approximately 11 billion At 30 September 2023, revenues amounted to 10,955.0 million euro, slightly down from 14,320.1 million euro at the same date in 2022, mainly due to the decrease of energy commodity prices and lower volumes of gas sold on account of the mild weather in the first half of the year. An increase was seen, instead, in revenues thanks to the higher volumes of electricity sold, commercial development actions, Consip tenders, the safeguarded tenders awarded in electricity, “gradual protection service” lots awarded, higher revenues from “energy efficiency services” linked to incentives in residential buildings and increased activities in value-added services for customers, as well as revenues from the waste treatment business and, above all, to the M&A activity. Ebitda* up sharply to 1,006.8 million Ebitda* for the first nine months of 2023 rose to 1,006.8 million euro (+15.1%), as against 874.8 million euro at 30 September 2022. Of this increase, the contribution coming from the energy areas amounted to 111.8 million euro and the good performance of the waste management area accounted for 11.8 million euro, while 3.5 million euro came from the integrated water cycle and 4.8 million euro from the other services area. Net operating result* rises to 504.6 million euro The net operating result* for the nine months ended 30 September 2023 rose to 504.6 million euro, up 15.5% from 437.0 million euro in the first nine months of 2022, at same growth path signed by Ebitda. Net profit post minorities* up by 10% In September 2023, net profit* rose to 267.1 million euro (+7.5%), up from 248.4 million euro in the same period of 2022, and the tax rate improved to 26.8%. Net profit post minorities* rose to 235.5 million euro, up 10% from 214.1 million euro at 30 September 2022. Strong increase in capital expenditure and M&A In the first nine months of 2023, the Hera Group made net investments including M&A coming to 593.0 million euro (+18.7% compared to the same period in 2022). Operating investments, including capital grants, amounted to 514.0 million euro, up 50.7 million euro year-on-year (+10.9%), and mainly for the development of plants, networks and infrastructures including the large-scale meter replacement in gas distribution and on the purification and sewerage infrastructures. Income statement (mn€) Sep 23 % inc. Sep 22 % inc. Abs. change % change Revenues 10,955.0 0.0% 14,320.1 0.0% (3,365.1) (23.5)% Other operating revenues 441.4 4.0% 345.3 2.4% 96.1 27.8% Raw and other materials (7,480.9) (68.3)% (11,642.5) (81.3)% (4,161.6) (35.7)% Service costs (2,421.9) (22.1)% (1,693.9) (11.8)% 728.0 43.0% Other operating expenses (58.2) (0.5)% (56.6) (0.4)% 1.6 2.8% Personnel costs (477.6) (4.4)% (449.8) (3.1)% 27.8 6.2% Capitalised costs 49.0 0.4% 52.2 0.4% (3.2) +(6.1)% Ebitda * 1,006.8 9.2% 874.8 6.1% +132.0 +15.1% Amortization, depreciation and provisions (502.2) (4.6)% (437.8) (3.1)% 64.4 14.7% Ebit * 504.6 4.6% 437.0 3.1% 67.6 15.5% Financial operations (139.7) (1.3)% (89.5) (0.6)% 50.2 56.1% Pre-tax result * 364.9 3.3% 347.5 2.4% 17.4 5.0% Taxes (97.8) (0.9)% (99.1) (0.7)% (1.3) (1.3)% Net result * 267.1 2.4% 248.4 1.7% 18.7 7.5% Attributable to: Shareholders of the Parent Company * 235.5 2.2% 214.1 1.5% 21.4 10.0% Minority shareholders 31.6 0.3% 34.3 0.2% (2.7) (7.9)% Invested capital and sources of financing (mn€) sep-23 Inc.% Dec-22 Inc.% Abs. change % change Net non-current assets* 7,887.8 +102.1% 7,522.3 +94.5% 365.5 +4.9% Net working capital* 517.1 +6.7% 1,096.0 +6.7% (578.9) (52.8)% (Provisions) (677.8) (8.8)% (657.6) (8.3)% (20.2) (3.1)% Net invested capital* 7,727.1 100.0% 7,960.7 100.0% (233.6) (2.9)% Equity* (3,578.2) +46.3% (3,710.9) +46.6% 132.7 +3.6% Long-term borrowings (4,492.1) +58.1% (5,598.5) +70.3% 1,106.4 +19.8% Net current financial debt 343.2 (4.4)% 1,348.7 (16.9)% (1,005.5) (74.6)% Net debt (4,148.9) +53.7% (4,249.8) +53.4% 100.9 +2.4% Total sources of financing* (7,727.1) (100.0)% (7,960.7) +100.0% 233.6 +2.9% * Adjusted results For further information Press release Investors web area img_primo_piano_9m23_en.png The first nine months of the year ended with strong growth in all economic and financial indicators, confirming the Group’s solidity and the effectiveness of its multi-business strategy 110x150_risultati_9M_23.jpg

From 7 to 10 November 2023, “Ecomondo” (the European fair that acts as a reference point on ecological transition, technological and industrial innovation of environmental services and green economy, particularly waste and resources, circular bio-economy, and water) is at the Fiera di Rimini. We are there again this year, in Hall C1 at Stand 500, with a two-storey exhibition space covering 550 square metres: the entire Hera Group is present with Hera S.p.A., Herambiente, Aliplast, Hera Comm, HERAtech and Hera Luce. During the fair, the business offers of the Group's trading companies are also presented. As every year, the stand is decorated with works of art made from recycled materials by SCART, the Hera Group project devoted to the artistic regeneration of industrial waste, in full compliance with the circular economy. Once again this year, SCART presents a new project in collaboration with the Fine Arts Academies of Florence, Ravenna and Rimini and the young people from the San Patrignano rehab centre. These are 30 new works made up of waste from sports activities. Even outside the expo, it is possible to admire a Formula 1 car created with the waste collected by the Group following the floods of May 2023. For further information Visit the Ecomondo website null null null null null null null null null null null null null null null null null null null null null null null null null Ecomondo_2023_1.jpg Ecomondo_2023_2.jpg Ecomondo_2023_3.jpg Ecomondo_2023_4.jpg Ecomondo_2023_5.jpg Ecomondo_2023_6.jpg Ecomondo_2023_7.jpg Ecomondo_2023_8.jpg Ecomondo_2023_9.jpg Ecomondo_2023_10.jpg Ecomondo_2023_11.jpg Ecomondo_2023_12.jpg Ecomondo_2023_13.jpg Ecomondo_2023_14.jpg Ecomondo_2023_15.jpg Ecomondo_2023_16.jpg Ecomondo_2023_17.jpg Ecomondo_2023_18.jpg Ecomondo_2023_19.jpg Ecomondo_2023_20.jpg Ecomondo_2023_21.jpg Ecomondo_2023_22.jpg Ecomondo_2023_23.jpg Ecomondo_2023_24.jpg Ecomondo_2023_25.jpg null null null null null null null null null null null null null null null null null null null null null null null null null null null null null null null null null null null null null null null null null null null null null null null null null null ecomondo_2023_870x320.png 110x150_Ecomondo_2023.jpg

Financial highlights Ebitda at 718.3 million euro (+13.8%) Net profit attributable to shareholders at 187.7 million euro (+2.4%) Overall investments rise to 403.4 million euro (+22.4%) Net debt at 4,145.7 million euro, down by 104.1 million euro compared to the 31/12/22 figure, with net debt/Ebitda ratio at 3x Business highlights Significant contribution to growth from the energy sectors, the waste management area and the water business Ongoing growth in the energy customer base, which rose to over 3.7 million, up 7.9% in 12 months Further development of initiatives for the energy transition and the circular economy, thanks to state-of-the-art plants and increasingly green services The Board of Directors of the Hera Group, chaired by Cristian Fabbri, unanimously approved the consolidated results for the first half of 2023. The first half of the year ended with operating results and investments up compared to the previous year, although in the first months of 2023 some of the served areas were affected by extreme weather phenomena and the uncertain global context continues to generate volatility in commodity prices, a generalised rise in inflation and an increase in the interest rates. The consolidated half-year report at 30 June, indeed, shows positive operating and financial performances, demonstrating once again the Group’s financial solidity and strength of its business model, balanced between internal and external growth and between regulated and free market activities. Cristian Fabbri, Executive Chairman of the Hera Group: “The first half of 2023 closed with substantial growth in results, with Ebitda reaching 718.3 million euro, up 13.8%, mainly due to the overall contribution coming from the energy area, which also saw an increase in services for decarbonisation, while growth in the waste management area confirms our commitment to the circular economy. The results for this half-year see us moving rapidly towards achieving the goals set out in our Business Plan and are the fruit of our consolidated multi-business strategy, which has always been geared towards combining corporate growth with the sustainable development of the local ecosystem. This is additionally confirmed by the 22% rise in investments, both for developing the Group’s industrial assets and for M&As that focus on growth towards the ecological transition, innovation and resilience. Our business model is capable of continuously innovating while maintaining strong local roots, and has allowed us to once again respect the commitments made to our shareholders, to whom a dividend up by 4.2% was paid last month, consistent with what was announced during the presentation of the Business Plan to 2026.” Orazio Iacono, CEO of the Hera Group: “The consolidated half-year financial report at 30 June shows significant growth in Ebitda, with a contribution coming from all business areas, in particular the energy sector with 239 million euro (+30%) and the waste management area with 162.9 million euro (+8%), and increased investments and M&A transactions, amounting to over 400 million euro. All of this was made possible by a significant cash generation and a solid financial position. The financial structure was further reinforced during the first half of the year by sustainable sources of financing on favourable terms, including the issue of a sustainability-linked bond, a new revolving credit line and a recent EIB loan. These initiatives allowed us to maintain our net debt/Ebitda ratio at roughly 3x, in line with the previous half-year and the targets defined.” Revenues at 8.3 billion In the first half of 2023, revenues amounted to 8,297.5 million euro, as against 8,896.0 million euro at 30 June 2022, mainly due to the drop in energy commodity prices and lower volumes of gas sold, as a result of the mild weather in the first half of the year. Revenues related to the higher volumes of electricity sold, instead, were up, thanks to commercial development actions, Consip tenders and the lots awarded in the protected and gradual protection services, as well as higher revenues from energy services, in which opportunities related to energy efficiency incentives in residential buildings and increased activities in value-added services for customers remained. A positive contribution also came from revenues in the waste management sector, due to increased treatment activities and acquisitions in the industry market. Ebitda rises to 718.3 million euro Ebitda for the first half of 2023 rose to 718.3 million euro (+13.8%), compared to 631.2 million euro at 30 June 2022. This increase is mainly due to the overall contribution coming from the energy areas, amounting to 68.1 million euro, and the positive performance of the waste management area, up by 12.2 million euro. Net operating result grows The net operating result at 30 June 2023 rose to 374.7 million euro, up 11.9% compared to the 334.9 million euro seen one year earlier. This performance remained positive even after higher depreciation and amortisation, due to the significant increase in investments, and conservative provisions for bad debts, due to the increased turnover in last resort markets. Financial charges increased, mainly due to the medium- and long-term credit lines stipulated in 2022 and the significant change in the interest rate scenario, which saw a significant increase in the cost of money. Net profit attributable to shareholders up to 187.7 million euro Net profit rose to 208.0 million euro (+3.1%), compared to 201.7 million euro in the first half of 2022, with a tax rate coming to 26.8%. Net profit attributable to Group shareholders* totalled 187.7 million euro, up (+2.4%) from 183.3 million euro at 30 June 2022. Strong growth in operating investments and Group solidity reinforced In the first half of 2023, the Hera Group made investments and corporate acquisitions totalling 403.4 million euro (+22.4% compared to the same period in 2022). Operating investments, including capital grants, amounted to 318.4 million euro, up by 31.3 million euro compared to the previous year (+10.9%), and were mainly related to the development of plants, networks and infrastructures. In addition, regulatory upgrading mainly concerned gas distribution, with a large-scale meter replacement, and the purification and sewerage area. Income statement (mn€) Jun-23 % inc. Jun-22 % inc. Abs. change % change Revenues 8.297,5 8.896,03 -598,5 -6,7% Other operating revenues 299,3 3,6% 219,4 2,5% +79,9 +36,4% Raw and other materials (5.961,0) -71,8% (7.062,2) -79,4% -1.101,2 -15,6% Service costs (1.576,2) -19,0% (1.105,2) -12,4% +471,0 +42,6% Other operating expenses (41,5) -0,5% (39,3) -0,4% +2,2 +5,6% Personnel costs (330,4) -4,0% (308,7) -3,5% +21,7 +7,0% Capitalised costs 30,6 0,4% 31,2 0,4% -0,6 +1,9% Ebitda * 718,3 8,7% 631,2 7,1% +87,1 +13,8% Amortization, depreciation and provisions (343,6) -4,1% (296,3) -3,3% +47,3 +16,0% Ebit * 374,7 4,5% 334,9 3,8% +39,8 +11,9% Financial operations (90,5) -1,1% (50,9) -0,6% +39,6 +77,7% Pre-tax result * 284,2 3,4% 284,0 3,2% +0,2 +0,1% Taxes (76,2) -0,9% (82,3) -0,9% -6,1 -7,4% Net result * 208,0 2,5% 201,7 2,3% +6,3 +3,1% Attributable to: - - + Shareholders of the Parent Company * 187,7 2,3% 193,3 2,1% +4,4 +2,4% Minority shareholders 20,3 0,2% 18,4 0,2% +1,9 +10,3% Invested capital and sources of financing (mn€) 30-giu-23 Inc.% 31-dic-22 Inc.% Var. Ass. Var.% Net non-current assets* 7791,2 100,7% 7522,3 94,5% 268,9 3,6% Net working capital* 612,2 7,9% 1096,0 13,8% (483,8) (44,1)% (Provisions) (668,1) (8,6)% (657,6) (8,3)% (10,5) 1,6% Net invested capital* 7.773,6 100,0% 7960,7 100,0% (225,4) (2,8)% Equity* 3589,6 46,4% 3710,9 46,6% (121,3) (3,3)% Long-term borrowings 5067,5 65,5% 5598,5 70,3% (531,0) (9,5)% Net current financial debt (921,8) (11,9)% (1348,7) (16,9)% 426,9 (31,7)% Net debt 4145,7 53,6% 4249,8 53,4% (104,1) (2,4)% Total sources of financing* 7735,3 100,0% 7960,7 100,0% 225,4 (2,8)% * Adjusted results For further information Press release Investors web area img_1H_primo_piano_eng.png The consolidated half-year report at 30 June shows growth in all main operating-financial indicators, confirming Hera’s financial solidity and once again demonstrating the effectiveness of the choices made by management 110x150_risultati_Q1_23_primo_piano.jpg

The European Investment Bank (EIB) has granted a €460 million loan to Hera Group. The main goals of the financing are to strengthen the resilience of integrated water services, increase the production of renewable energy, foster energy efficiency, decarbonisation and the circular economy, and bolster waste processing and collection, all in order to support Hera Group’s areas of operation on their path to a sustainable environmental transition and help combat climate change. This EU bank loan will finance over 60 Hera Group projects aligned with the EU taxonomy and in line with the objectives of the UN 2030 Agenda, helping the communities served by the Italian multi-utility on their path to a green transition closely connected to local society and industry. The EIB financing will therefore cover almost 60% of the total value of these investments (over €800 million) already planned by the company in its 2022-2026 industrial plan. Operations will mainly take place in Emilia-Romagna, but also in other areas served such as Veneto and Friuli-Venezia Giulia. In concrete terms, the EU bank resources will contribute to improving integrated water services via operations to further cut losses and renew rainwater collection and wastewater treatment facilities. Hera Group will increase its capacity for processing, recycling, and recovering waste by renovating existing collection centres and building new, cutting-edge plants for recycling plastic and carbon fibre and for the pre-treatment and storage of industrial waste. The EIB financing will also enable Hera Group to install over 370 000 second-generation smart meters in the regions concerned, as well as develop district heating and combined heat and power systems and build photovoltaic plants — even small-scale ones — to increase renewable energy production. Almost 40% of the EIB-financed investments will be made in the parts of Emilia-Romagna that were hit the hardest by the recent floods. The financed operations will improve the resilience of water services to future extreme weather events, including via the construction of underground rainwater collection tanks in areas of the Romagna coast subject to high hydrogeological risk. Elsewhere, a number of measures will be taken to make the sewerage network more resilient to flooding. The financing announced today is part of the REPowerEU initiative supported by the EIB, which will invest an additional €30 billion over the next five years to unlock €115 billion, promoting the green transition and gradually reducing Europe's dependence on fossil fuels. For further information Press release primo_piano (1).png The EIB loan will help improve the resilience of the integrated water cycle, energy efficiency and the management of environmental services in the areas served by Hera new_sede_hera_110.jpg