Press releases

2022-06-15 For the second year in a row, the Group leads the overall ranking in the index measuring the degree to which ESG factors are integrated within corporate governance. Hera is the foremost company in Italy for the importance of sustainability policies, fully and consciously incorporated within its business strategies. This is demonstrated, for the second consecutive year, by the Integrated Governance Index, the main quantitative index to measure the integration of ESG factors in corporate governance, managed by ETicaNews and presented today in Milan at the ESG Business Conference. “We are very pleased with this recognition”, remarks the Hera Group’s Executive Chairman, Tomaso Tommasi di Vignano, “since it rewards the attention we have always paid to governance, which has been the key to face successfully the challenges in all these years. This has not only led us to increase by six times the Group’s capitalisation, but also to undergo processes of profound changes and transformation, always guaranteeing strategic consistency and ever-growing results to the benefit of all our stakeholders.” Sustainability at the heart of Hera’s strategies Ever since its foundation, sustainability has been at the core of Hera’s strategy. This award is therefore fully in line with the cultural transformation that began 20 years ago and has concerned all aspects of the Group. ESG factors are indeed fully integrated within the company’s activities and represent a strategic asset in all respects. The Group’s attention to sustainability is also proven by the recent transformation of subsidiary Hera Luce into a Benefit Corporation. This decision represents a further step towards sustainable development, following last year’s introduction of the concept of corporate purpose into the Group’s Articles of Association. The central role played by creating shared value also becomes clear in the Group’s 2021 Sustainability Report, which for the first time reports on activities consistent with the European Union taxonomy, ahead of the regulatory obligation that will only come into force in 2023. Lastly, as far as sustainable finance is concerned and in line with the growing interest shown by investors in ESG factors, Hera – the first company in Italy to issue a “green” bond in 2014 – recently successfully launched its third green bond, offering the market the possibility to invest in the Group’s activities that comply with the criteria in the European Taxonomy. The Group has also published a new Green Financing Framework (GFF), certified by an independent company and already aligned with the Taxonomy. 20220615 PR IGI 2022 HERA Group.pdf 14:12:00 Logo IGI 2022 - vert.jpg See the press release Logo IGI 2022 - vert.jpg

2022-06-08 The Hera Group subsidiary is among the first public lighting companies in Italy to include in its articles of association a commitment to produce benefits for its stakeholders, demonstrating Hera’s focus on sustainable development and creating value for the local areas and communities served At a time when the climate emergency and social demands are current issues, the Hera Group has further strengthened its twenty-year commitment to sustainable development and creating value for the local areas and communities it serves. It has done so by transforming Group subsidiary Hera Luce, one of the nation’s foremost operators in the public lighting sector and a leader in sustainable city lighting services with energy efficiency and circular economy solutions, into a Benefit Corporation. This is not, however, a true revolution for the Bologna-based company, but rather a further step along the path taken by the Hera Group last year, when it introduced the concept of “corporate purpose” into its Articles of Association. One of the first companies in Italy to do so, Hera thus made explicit the objectives it aims to achieve in carrying out its business activities and reaffirmed the focus on sustainability that has characterised it since its establishment. Hera Luce’s Shareholders Meeting approved the transformation of this company into a Benefit Corporation (pursuant to and in accordance with Law no. 208 of 28 December 2015) by amending article 3 of its Articles of Association, which now includes the aim of “operating responsibly, sustainably and transparently towards people, communities, local areas and the environment as well as cultural, social resources and activities, authorities, associations and other stakeholders”. Hera Luce made this choice on a voluntary basis, one of the first in Italy in the public lighting sector to take this initiative: thanks to this change in its articles of association, transparency and benefits for stakeholders have definitively become part of its corporate DNA. Three specific purposes are involved in the shared benefit that Hera Luce intends to pursue: contributing to the prosperity of the local communities in which the company operates, by designing and implementing sustainable, resilient and innovative models for urban development, to approach interventions on cities (Hera Luce for smart circular city/land); pursuing carbon neutrality, by acting through interventions aimed at energy efficiency and the energy transition towards renewable sources; leading the transition towards a circular economy model through means including measuring circularity from a lifecycle perspective. These are specific goals related to environmental issues, energy efficiency and transition as well as the circular economy. This Hera Group subsidiary aims to achieve them by ensuring the best working conditions for its own employees and those of its suppliers, and by promoting public-private collaboration in a multi-stakeholder approach. By becoming a Benefit Corporation, in compliance with current legislation, Hera Luce will be required to draw up an annual report on its pursuit of shared benefits, to be attached to the company’s financial statements, which will be published on Hera Luce’s website. “At Hera, we are aware that we have a great responsibility towards the local areas in which we operate”, states Tomaso Tommasi di Vignano, Executive Chairman of the Hera Group. “In our twenty years of activity, the Hera Group has placed the sustainable development of its businesses and the communities it serves at the centre of its strategy, always putting the generation of value at the heart of its relationship with all stakeholders served by the company, first and foremost its own employees, and extending it to institutions, local communities, shareholders, customers and suppliers. The transformation of our subsidiary Hera Luce into a Benefit Corporation reinforces our Group’s commitment to balanced and sustainable development through concrete and innovative projects for the energy transition, circular economy and technological evolution.” “This is a very important goal, that comes on top of the certification of the Material Circularity Report we obtained at the beginning of this year”, explains Alessandro Battistini, General Manager of Hera Luce. “Becoming a Benefit Corporation represents a commitment and a responsibility of which we are deeply aware. For Hera Luce, projects have always been characterised by their value in social and environmental terms, as well as their transparency. This choice represents a further step towards concretely achieving the model of corporate sustainability required by the market.” Legally introduced in Italy in 2016, Benefit Corporations represent an evolution of the concept of a company, with a view to sustainability and common benefit. They are, in fact, companies that decide to integrate within their corporate purpose, in addition to the objectives of profit and profit sharing, the aim of having a positive impact on society and the biosphere. 20220608_Hera Luce becomes benefit corporation FINAL.pdf 11:26:00 Economia circolare 2.jpg See the press release Economia circolare 2.jpg

2022-06-06 Please note that the deed of execution dated 18 May 2022 relating to the issue by Hera S.p.A. of a 500 million euro Green Bond is available to the public at its registered office, on the website www.gruppohera.it, and on the authorised storage mechanism 1INFO (www.1Info.it). 20220606_comunicato_pubblicazione Green Bond Hera_ENG.pdf 10:42:00 Nuova_Palazzina_110x150.1533218221.jpg See the press release Nuova_Palazzina_110x150.1533218221.jpg

2022-05-17 The new Green Financing Framework of the Hera Group, together with the “second party opinion” released by Sustainalytics, sets out the guidelines for issuance of green bonds and for new green facility agreements. Hera is the first multiutility in Europe to publish a framework certified as being in line with the EU Taxonomy, as confirmation of the commitment of the company to “green” issues, also on the basis of the new challenging European standards The Hera Group – which pioneered sustainable finance since 2014 when it issued the first green bond in Italy – has published its new Green Financing Framework (GFF) that consolidates the transparency policy pursued by the multiutility towards the investors. Sustainability and ecological transition at the core of the new GFF The new GFF is a landmark for issuance of green bonds and for new green facility agreements related to the following areas: “Sustainable Water and Wastewater Management”, “Circular Economy and Pollution Prevention and Control” and “Energy Efficiency and Energy Infrastructure”, selected in compliance with the Green Bond Principles 2021 (GBP) published by the International Capital Market Association (ICMA) and the Green Loan Principles 2021 (GLP) published by the Loan Market Association (LMA). Furthermore, the GFF sets out the commitment shown by the Hera Group in the direction of the EU Taxonomy (Regulation 2020/852) and of the Climate Transition Finance Handbook. Consistently with the positioning characteristic of the Hera Group since its establishment and with the strategies outlined in the 2025 Business Plan, the new GFF intends to promote, also through the sustainable finance leverage, the achievement of the goals related to the ecological transition, to which the multiutility directs the development of its businesses. The “second party opinion” by Sustainalytics Sustainalytics, one of the leading independent agencies in research, sustainability analysis and ESG rating, has issued a “second party opinion” certifying the GFF consistency with the main international reference standards (the GBP of ICMA and the GLP of LMA), with the EU Taxonomy and with the Climate Transition Finance Handbook. The Hera Group is the first multiutility in Europe to publish a GFF in line with the EU Taxonomy and certified by an independent agency. 20220517 PR Green Financing Framework & SPO Hera Group.pdf 12:11:00 Nuova_Palazzina_110x150.1533218221.jpg See the press release Nuova_Palazzina_110x150.1533218221.jpg

2022-05-12 Kindly note that as of today the minutes of the Shareholders Meeting held on 28 April 2022, as well as the articles of association containing the amendments approved by the Shareholders' Meeting, are available at company headquarters, on the Hera Group’s website (https://eng.gruppohera.it/group/ ) in the section dedicated to Corporate Governance, and on the authorised storage website 1INFO. We also inform that the aforementioned minutes was registered with the Companies' Register of Bologna on 10 May 2022. Press releasae publication of documents pertaining to the Shareholders Meeting.pdf 14:37:00 Nuova_Palazzina_110x150.1533218221.jpg See the press release Nuova_Palazzina_110x150.1533218221.jpg

2022-05-11 In today's meeting, the Board of Directors – following the resignation of CEO Stefano Venier, announced on 5 April and effective as of 26 April 2022 – appointed Orazio Iacono by co-optation as Hera S.p.A.’s new CEO, conferring on him all the related powers. Orazio Iacono, who was co-opted pursuant to Article 2386 of the Italian Civil Code and Article 17.10 of the Company’s Articles of Association, qualifies as a non-independent executive director following his appointment and, based on the information available Orazio Iacono was also appointed as a member of the Executive Committee. Mr. Iacono, 54 years old and an engineer, previously held positions with increasing responsibility in the Trenitalia Group, acting as CEO and General Manager in 2017-2020; subsequently, he worked as Senior Advisor in a leading international consulting firm and in 2021 he became Saipem’s Chief Operating Officer for Sustainable Infrastructures. His full curriculum vitae is available on the company’s website, at www.gruppohera.it (Governance/CdA section). 20220511_nomina AD.pdf 14:05:00 Nuova_Palazzina_110x150.1533218221.jpg See the press release Nuova_Palazzina_110x150.1533218221.jpg

2022-05-11 The consolidated quarterly report at 31 March shows growth in revenues and Ebitda, proving the solidity and resilience of the Hera Group’s business model even in this difficult economic context. The Group confirms its commitment to sustainable development, with a strategic approach aimed at creating value for all stakeholders, starting from the local areas and communities it serves. Financial highlights Revenues at 5,312 million euro (+133.8%) Ebitda at 374.0 million euro (+3.3%) Net profits at 137.8 million euro (-1.8%) Net debt at 3,455.2 million euro, with net debt/Ebitda ratio at 2.8x Operating highlights Good contribution to growth comes from the main businesses, in particular the energy sectors and the waste management area Further development of initiatives for the ecological transition and the circular economy, thanks to state-of-the-art plants and increasingly green services Solid energy customer base, with approximately 3.5 million customers Today, the Hera Group’s Board of Directors, chaired by Tomaso Tommasi di Vignano, unanimously approved the consolidated results for the first quarter of 2022. Despite the fact that the results for the first quarter of 2022 were achieved against the backdrop of an extraordinarily difficult international scenario, marked by energy market volatility and geopolitical conflicts, Hera’s management policies – based on its solid and resilient business model – proved to be effective and enabled it to show further growth in results. Following up on the indications contained in the Business Plan to 2025, the Group thus continues to create value for stakeholders while ensuring, at the same time, quality and continuity in services. The results achieved are all the more remarkable considering that they fully offset the negative impact of Arera’s Resolution 614/2021 concerning a reduction in returns on capital invested in regulated activities (WACC). As regards changes in the scope of operations, compared to March 2021 two companies were integrated in the waste management area, which contribute to increasing the commercial presence in central-northern Italy: Recycla, a 70% owned company from Friuli that manages three platforms for industrial waste, and the Vallortigara Group, 80% owned, which provides services to industries, public administrations and citizens and manages a multifunctional platform for special waste treatment. The energy areas now benefit from 100% ownership of Atlas Utilities, through its Bulgarian subsidiary Ares Gas, and of the Abruzzo-based company Eco Gas, 90% owned by Hera Comm. Also note that Hera Comm was awarded the graduated protection service for electricity supply to SMEs in 9 regions of Italy. As regards regulated services, in November 2021 Atersir definitively awarded the Hera Group the tender for the concession of the integrated water service for 24 municipalities in the province of Rimini, including the capital, with a contract worth approximately 1.7 billion euro. The Hera Group, which was also the outgoing manager, will therefore be responsible for this service from 2022 to 2039. A few weeks later, lastly, Atersir definitively awarded the Hera Group, for a period of time covering 15 years, the tenders for the municipal waste collection services in the Modena and Bologna areas, with a total scope of 1.5 million inhabitants and a value coming to over 2.5 billion. Revenues at roughly 5.3 billion euro (+133.8%) In the first quarter of 2022, revenues amounted to 5,312.0 million euro, up sharply from 2,271.8 million euro seen in the same period one year earlier. The energy sectors in particular contributed to this result, showing significant growth due to increased trading and the rise in commodity prices, as well as higher volumes of gas sold as a result of new lots won in tenders and lower winter temperatures. In addition, growth in energy services was related to energy efficiency in residential buildings (insulation bonus and 110% tax super-bonus) and increased activities for value-added services for customers. Revenues from the waste management sector were also up, mainly due to energy production, higher prices in the recovery market and new acquisitions in the industrial market. Lastly, revenues from network services increased, both regulated and for third parties, as did revenues from the public lighting service. Ebitda rises to 374.0 million euro (+3.3%) Ebitda went from 362.0 million euro in the first three months of 2021 to 374.0 million euro at 31 March 2022, up 12.0 million euro (+3.3%). The main contributions to this result came from the energy area, up by a total of 6.1 million euro, and the waste management area, up 8.1 million euro, offsetting the slight drop in the other services area. In particular, the activities managed concerning the ecological transition and circular economy were decisive, including energy efficiency services developed for condominiums, a reinforcement of value-added services in the energy sector (from “green” supply to sales and installation of LED devices, smart boilers and thermostats, and energy diagnostics) and the regeneration of resources, through Group subsidiary Aliplast. Operating result and pre-tax profit down slightly Operating results amounted to 220.1 million euro at 31 March 2022, down 1.3% from the 223.1 million euro seen in the first quarter of 2021, mainly due to higher amortisation and depreciation due to changes in the scope of consolidation and higher provisions for bad debts mainly attributable to both last resort and traditional markets as well as the graduated protection service. Financial operations at 31 March 2022 were mainly unchanged, at 29.5 million, compared to 28.8 million euro seen in the first quarter of 2021. This change was caused by lower income from late payment indemnities, partially offset by lower financial charges on long-term debt resulting from debt optimisations. Pre-tax profit amounted to 190.6 million euro, slightly down from 194.3 million euro at 31 March 2021 (-1.9%). Net profit at 137.8 million euro Thanks to a tax rate coming to 27.7%, quite similar to the 27.8% rate of the previous year, net profit stood at 137.8 million euro, as against 140.3 million euro in the first quarter of 2021. Profit pertaining to the Group’s shareholders amounted to 126.5 million euro, down from 132.2 million euro at 31 March 2021, due to an increase in the portion attributable to minority shareholders. Strong growth in operating investments and Group solidity reinforced The Group’s operating investments, including capital grants, amounted to 129.2 million euro, up 11.1% compared to the previous year, and mainly involved work on plants, networks and infrastructures. In addition, regulatory upgrading was carried out, mainly in the gas distribution sector with a large-scale meter replacement, and in the purification and sewerage sector. Net financial debt went from 3,261.3 million euro at 31 December 2021 to 3,455.2 million euro at 31 March 2022, mainly due to a change in net working capital, which increased as a result of the energy scenario and the impact of interventions on “rising bills” also in terms of payment by instalments. The net debt/Ebitda ratio remained substantially stable, at 2.8x, confirming the company’s financial solidity. Gas As regards the gas area – which includes distribution and sales of natural gas, district heating and energy services – Ebitda rose to 201.4 million, showing an increase of 22.9 million, or 12.9%, compared to 31 March 2021. This was mainly due to the increased sales and incentivised energy efficiency activities and district heating. The first quarter of 2022 therefore showed significant growth compared to the same period of 2021, both in terms of margins and volumes sold, thanks to the results achieved in energy efficiency incentives and the 17 lots awarded nationwide to Hera Comm through tenders, including: 6 lots of the last resort gas service in 12 regions of Italy, 9 lots of the default gas distribution service in 19 regions and 2 lots of the Consip GAS14 tender for the supply of natural gas to Public Administrations in Lombardy region. The number of gas customers came to almost 2.1 million, up 1.7% compared to the previous year. The gas area accounted for 53.9% of Group Ebitda. Electricity Ebitda for the electricity area – which includes electricity generation, distribution and sales services – amounted to 30.4 million euro, down compared to the same period of 2021 owing to the different conditions of energy markets in relation to procurement (higher raw material prices) and a lower contribution from generation (less use of the market by dispatching services as a result of normalised conditions in the areas served by the generation plants). At Group level, margins from sales and trading did not witness significant changes overall traceable to the extraordinary situation of energy commodity prices, thanks to the effectiveness of hedging policies and the management of these risks. Also note the positive result coming from commercial growth in free market customers, supported by innovative offers, value-added services and improved customer experience. In addition, Hera Comm Spa was awarded through a tender, for the period from 1 July 2021 to 30 June 2024, the graduated protection service for the supply of electricity to SMEs in nine Italian regions, corresponding to three allocation lots in the national tender called by the Single Buyer. The customer base also continued to grow in the electricity area, reaching almost 1.4 million (+5.3%). This growth occurred on the free market, both as a result of the reinforced commercial actions implemented, accounting for roughly 30 thousand customers, and the graduated protection service awarded, with approximately 37.3 thousand customers. The safeguarded market was also up compared to the same period of the previous year. Alongside the above-mentioned trend, an increase was seen in the number of customers subscribing to value-added services, with approximately 22.5 thousand customers, up 46% compared to the previous year, demonstrating the growing loyalty of the Group’s customer base. The electricity area accounted for 8.1% of Group Ebitda. Water cycle In the first quarter of 2022, the integrated water cycle area – which includes aqueduct, purification and sewerage services – rose from 55 million euro in the first quarter of 2021 to 55.5 million euro in the first quarter of 2022 (+0.8%), thanks in particular to the contribution coming from higher revenues for new connections. In the first quarter of 2022, investments made in the water cycle area, including capital grants, rose to over 43 million euro (28.3 million euro in the aqueduct, 8.5 million euro in sewerage and 6.6 million euro in purification), mainly involving extensions, reclamation and upgrades on networks and plants, as well as regulatory compliance, especially in the purification and sewerage sectors. The integrated water cycle area accounted for 14.8% of Group Ebitda. Waste management Ebitda for the waste management area – which includes waste collection, treatment and recovery services – increased by 8.1 million euro compared to the same period in 2021, rising to 78.9 million euro at 31 March 2022 (+11.4%), as against 70.8 million euro in the first quarter of 2021. Thanks to its set of plants, which continues to be a distinctive strategic asset on the market, the Group was able to seize opportunities for growth, confirming its ability to react with great resilience to the current market context. In particular, waste treatment contributed to this growth, reaching Ebitda coming to 61 million euro, up 20.8% compared to the 50.5 million euro seen one year earlier. In Italy, the progressive increase in the cost of energy and the difficulties in finding raw materials that began in late 2021 led to a slowdown in production in many manufacturing sectors during the early months of 2022, with repercussions in waste production. Nevertheless, the Group was able to expand its market share in industrial waste treatment, also benefiting from the larger scope of operations ensuing from the M&A transactions mentioned above. Aliplast’s commercial growth in the recovery market continued, due to price increases in all sectors resulting from the high value of virgin polymer and strong market demand, and its consolidated leadership in other markets in which the Group is active. The Hera Group operates in the complete waste cycle, with over 90 plants for municipal and special waste treatment and plastic materials regeneration. The main plants include: 9 waste-to-energy plants, 12 composting/digestion plants and 15 sorting plants. The close attention paid to plants has always been a distinctive element of the Group’s propensity for excellence: indeed, operations are ongoing to provide plants with the best available technologies and to complete the revamping of two waste-to-energy plants, one in Trieste and one in Ravenna. Thanks to the in-depth operational skills possessed by the Group and the other companies in the tender-winning RTIs, the areas served will be equipped with collection models having innovative services and equipment, with a strong focus on sustainability, waste reduction and an increase in recycled materials. The waste management area accounted for 21.1% of Group Ebitda Profit & Loss (mln €) 31/03/2022 Inc.% 31/03/2021 Inc.% Ch. Ch.% Sales 5,312.0 2,271.8 +3,040.2 +133.8% Other operating revenues 100.7 1.9% 100.7 4.4% +0.0 +0.0% Raw material (4,307.8) (81.1%) (1,209.7) (53.2%) +3,098.1 +256.1% Services costs (573.3) (10.8%) (646.9) (28.5%) (73.6) (11.4%) Other operating expenses (17.2) (0.3%) (17.1) (0.8%) +0.1 +0.6% Personnel costs (154.5) (2.9%) (150.1) (6.6%) +4.4 +2.9% Capitalisations 14.1 0.3% 13.3 0.6% +0.8 +6.0% Ebitda 374.0 7.0% 362.0 15.9% +12.0 +3.3% Depreciation and provisions (153.9) (2.9%) (138.9) (6.1%) +15.0 +10.8% Ebit 220.1 4.1% 223.1 9.8% (3.0) (1.3%) Financial inc./(exp.) (29.5) (0.6%) (28.8) (1.3%) +0.7 +2.4% Pre tax profit 190.6 3.6% 194.3 8.6% (3.7) (1.9%) Taxes (52.8) (1.0%) (54.0) (2.4%) (1.2) (2.2%) Net profit 137.8 2.6% 140.3 6.2% (2.5) (1.8%) Attributable to: Shareholders of the Parent Company 126.5 2.4% 132.2 5.8% (5.7) (4.3%) Minority shareholders 11.3 0.2% 8.1 0.4% +3.2 +39.3% Balance Sheet (mln €) 31/03/2022 Inc.% 31/12/2021 Inc.% Ch. Ch.% Net fixed assets 7,294.8 103.4% 7,308.0 109.4% (13.2) (0.2%) Working capital 398.9 5.6% 3.5 0.1% +395.4 +11,297.1% (Provisions) (637.2) (9.0%) (633.4) (9.5%) (3.8) +0.6% Net invested capital 7,056.5 100.0% 6,678.1 100.0% +378.4 +5.7% Net equity 3,601.3 51.0% 3,416.8 51.2% +184.5 +5.4% Long term net financial debt 3,644.6 51.7% 3,633.1 54.4% +11.5 +0.3% Short term net financial debt (189.4) (2.7%) (371.8) (5.6%) +182.4 (49.1%) Net financial debts 3,455.2 49.0% 3,261.3 48.8% +193.9 +5.9% Net invested capital 7,056.5 100.0% 6,678.1 100.0% +378.4 +5.7% Press release Q1 2022.pdf 14:02:00 Nuova_Palazzina_110x150.1533218221.jpg See the press release Nuova_Palazzina_110x150.1533218221.jpg