Press releases

2020-03-25 Financial results as at 31/12/2019 The Group, included one year ago in the FTSE MIB, closed the year with improvement in all main results, continuing along its path of uninterrupted growth and creating value for shareholders and local areas. Proposed dividends at 10 cents per share, in line with the content of the Business plan. Financial results at 31/12/2019 /group_eng/investor-relations/results-and-presentations/y2019 /documents/1514726/4210686/Financial+results+as+of+31_12_2019.pdf/ca71a0b9-a147-d1af-4660-7e0a8c6f7b6b?t=1629971549137 /documents/1514726/4210686/GruppoHera_FY19_Analyst_presentation.1585141240.pdf/207393c0-65d8-5cf4-d8ee-aa99c4513c29?t=1597849359551 /documents/1514726/4880888/GruppoHera+Y2019+eng.1585218776.mp3/c5a801fa-0307-c97b-3ac2-3fd6ba0c29b2?t=1610038357991 http://investornews.gruppohera.it/en/?n=181 /documents/1514726/4210686/Dati_finanziari_31_12_19_eng.1585130996.xls/19917ed5-b596-4b3f-0409-8a2de7b77c51?t=1597849358948 https://www.slideshare.net/Gruppo_Hera/analyst-presentation-y2019 /group_eng/investor-relations/results-and-presentations/interactive-data HTML Y2019 results Financial results as at 31/12/2019 Analyst presentation: Y2019 results Audioconference: Y2019 results Newsletter: Y2019 results Financial data as at 31 December 2019 Slideshare Y2019 Interactive data Financial highlights Turnover at 7,443.6 million euro (+12.3%) Ebitda at 1,085.1 million euro (+5.2%) Net profits at 402.0 million euro (+35.5%) Net profits for Shareholders at 385.7 million euro (+36.8%) Adjusted net debtat 2,690.8 million euro, while Net debt/Ebitda improves to2.48x excluding the transaction with Ascopiave Proposed dividends at 10 Euro cents per share Operating highlights Good contribution to growth coming from business areas, especially the gas, water and waste management sectors Positive results thanks to both internal and external growth Sharp rise in energy customers, which reach roughly 3.3 million thanks to the partnership with Ascopiave Sorted waste increases to an average of 64.6% across the areas served Improvement in all sustainability indicators, with shared value Ebitda growing to 422.5 million euro (+13%) Today, the Hera Group’s Board of Directors, chaired by Tomaso Tommasi di Vignano, unanimously approved the consolidated economic results at 31 December 2019 and theReport on remuneration policies and compensation paid, along with the Sustainability report. 17 years of uninterrupted growth, with improvement in all main operating-financial and sustainabilityindicators The Hera Group closed the 2019 financial year with improved results and Ebitda higher than the figure included in the forecast published in January, a significant achievement made despite the effects of a further partial reduction in incentives for waste-to-energy plants and lower income from safeguarded customers. The partnership with Ascopiave, completed last December and responsible for the creation of the largest energy operator in North-Eastern Italy, will be consolidated in the results for 2020. The Group’s path of development, 17 years after its birth, balances regulated and free-market activities and combines internal and external growth, reaching significant economies of scale and increasing synergies, thanks to a multi-business approach that over time has proven to be a winning strategy for Hera, now Italy’s leading multi-utility by capitalisation. The improvement seen in operating-financial results was accompanied by an increased creation of shared value, which for some time now has measured the progress made by the company toward sustainability.  Turnover above 7.4 billion, up 12.3% The Hera Group’s 2019 turnover rose to 7,443.6 million euro, with an 817.2 million increase (+12.3% compared to the 6,626.4 seen in 2018), thanks in particular to trading and higher volumes of gas and electricity sold, as well as higher revenues for waste treatment. Ebitda grows to 1,085.1 million (+5.2%) Group Ebitda increased to 1,085.1 million euro (+5.2%), up 54 million compared to the 1,031.1 million seen in 2018. This growth was sustained by the Group’s various business activities, with the energy areas rising by 20.1 million overall, mainly thanks to a good performance in the gas area and positive contributions also coming from the water and waste management areas. Operating results and pre-tax profits increase Operating results also rose, reaching 542.5 million euro, with a 32.4 million increase (+6.4% compared to the 510.1 seen in 2018), despite higher operating amortisation for capital expenditures made in developing infrastructures. Pre-tax profits went from 418.5 million euro in 2018 to 442.5 million (+5.7%), up 24 million euro, and financial management increased by 8.3 million. Net profits pertaining to Shareholders increase to 385.7 million euro (+36.8%) Group net profits grew to 402.0 million euro (+35.5%), showing a 105.4 million increase over the 296.6 seen one year earlier. Without considering the non-recurring effects of the transaction with Ascopiave, net profits pre-minorities would amount to 317.1, up 6.9%. The adjusted tax rate, based on pre-tax results net of special items, came to 28.3%, improving compared to the 29.1% recorded at 31 December 2018, thanks in particular to the Group’s commitment towards sustaining capital expenditures for technological, digital and environmental transformation, along the lines of Utility 4.0. Profits pertaining to Shareholders came to 385.7 million euro (+36.8%), with a sharp increase over the 281.9 million seen in 2018. Capital expenditures rise to 533.8 million euro, with Net debt/Ebitda ratio showing further improvement at 2.48 Including capital grants, overall 2019 capital expenditures came to 533.8 million euro, up 15.4% compared to the 462.6 million seen one year earlier. Capital expenditures mainly went towards interventions on plants, networks and infrastructures, in order to guarantee efficiency, safety, resilience and innovation, in addition to regulatory upgrading that primarily concerned gas distribution, with an intensive meter substitution, and the purification and sewerage areas. Net capital expenditures amounted to 509.2 million. Adjusted net debt, excluding the transaction with Ascopiave, settled at 2,690.8 million euro, rising compared to the previous year (2,585.6 million in 2018), mainly as a result of adopting the new accounting standard IFRS 16. An increase in operating cash flow generation allowed higher capital expenditure and higher dividends, in addition to the M&A transactions seen over the year, to be almost entirely covered. Further improvement was seen in the Net debt/Ebitda ratio, which fell to 2.48x (compared to 2.51 in 2018), not including the financial impact of the Ascopiave transaction; including the latter, this indicator came to 3.02x. The Group’s financial solidity is reflected by the opinions expressed by major rating agencies: Baa2 with a Stable outlook from Moody’s and BBB with a Positive outlook from Standard & Poor’s. Further improvement in the Group’s sustainability, shared value Ebitda rises to 39% These positive operating results were matched by the Group’s ever-increasing attention towards sustainability. The Hera Group was among the first to introduce, in 2016, shared value reporting, covering all business activities that in addition to generating Ebitda for the company respect the drivers of sustainable development defined by the UN’s 2030 Agenda and, more generally speaking, various national and international policies. The Hera Group’s 2019 shared value Ebitda amounted to 422.5 million euro, accounting for 39% of overall Ebitda (+13% compared to the 375.2 million seen one year earlier). This result is perfectly in line with the path set out by the Business plan, in which this indicator is projected to reach 42% by 2023, and testifies to the Group’s strong commitment towards the issues involved in sustainability. Proposed dividends at 10 cents per share The Board of Directors, in light of the positive results achieved, has decided to put a dividend of 10 cents per share to the Shareholders Meeting called for 29 April 2020, in line with the previously published content of the Business plan. In agreement with Borsa Italiana, the ex-dividend date has been set at 6 July 2020, with payment as of 8 July 2020. The dividend will be paid to shares recorded on 7 July 2020. Notice of call for the Shareholders Meeting The Shareholders Meeting has been called for 29 April 2020. Considering the current epidemiological emergency caused by COVID-19 and its developments, which cannot be foreseen at the moment, the Company reserves the right, if and when so allowed or required by any possible future legislation and regulations, and within the limits defined therein, to: postpone the date of the Shareholders Meeting and, consequently, the deadlines for exercising the shareholders’ rights indicated in the notice; indicate the specific forms in which Shareholders may participate in the meeting; in any case, adopt all measures and introduce all initiatives deemed necessary or even only appropriate in order to allow the meeting to be held in safe conditions, in accordance with the aforementioned legislation. In this event, the notice of call, as potentially modified, will be communicated to Shareholders and made available to the public in the forms ordinarily foreseen by the law and the Articles of Association, unless otherwise indicated by future developments in legislation. Approval for the Report on remuneration policies and compensation paid The Board of Directors furthermore approved the Report on remuneration policies and compensation paid, in line with international best practices. Gas area Ebitda for the gas area – which includes services in natural gas distribution and sales, district heating and heat management – grew significantly compared to the previous year, in terms of both margins and volumes sold, rising to 341.6 million euro (+7.9%), 25.1 million higher than the 316.5 million seen in 2018. This result was reached mainly thanks to a larger amount of trading and higher sales margins recorded for both final customers and in default market and last-resort supply (FUI) services. For the latter two services, a lower number of customers was awarded for the period from 1 October 2019 to 30 September 2020 compared to the previous year, but with more advantageous margins. The overall number of gas customers increased by almost 600 thousand (+40.8%), reaching a total of 2 million users, mainly due to the transaction with Ascopiave, which brought marketing companies acquired through EstEnergy and Amgas Blu into the Group’s consolidated scope. Net operating capex coming to 138.3 million euro were made in 2019, with a sharp increase over the 115.4 million seen in 2018. This involved both distribution, to guarantee and improve the high quality standards of networks and plants, both with an intensive meter substitution and further work in cathodic protection in the areas served by AcegasApsAmga, and sales, concerning activities involved in acquiring new customers. The contribution of the gas area to Group Ebitda rose to 31.5%. Water cycle area In 2019, the integrated water cycle area – which includes aqueduct, purification and sewerage services – recorded Ebitda amounting to 265.3 million euro, with a 15.6 million euro (+6.2%) increase over the 249.7 seen one year earlier. This growth was mainly due to higher revenues from new connections and distribution, which reflected the tariffs introduced by the Authority for 2016-2019, and the premiums awarded for contract quality. Net operating capex amounted to 151.5 million euro (showing strong growth over the 127.6 recorded in 2018). Including capital grants, capex totalled 175.8 million and were mainly dedicated to extensions, network and plant upgrading and reclamations, including interconnections in the water system, for example in the Modena area, and interventions aimed at creating district-based networks. Work continued on the Rimini seawater protection plan, one of the most important interventions, at the forefront nationwide as regards sewerage and purification, in addition to upgrading the sewerage network in many areas, including those served by the company AcegasApsAmga. The water cycle area accounted for 24.5% of Group Ebitda. Waste management area Ebitda for the waste management area – which includes waste collection, treatment and disposal services – also grew, coming to 264.2 million euro (+4.8%), up 12.2 million over the 252.0 million seen in 2018. The Group further consolidated its position as a national leader in the waste management sector, thanks to outstanding performances in the area of sorted waste, which went from 62.5% in 2018 to 64.6% at the end of 2019, and to roughly ninety advanced plants handling all types of waste (and supporting a circular economy), which represent a fundamental strategic lever, above all considering the country’s lack of plants. This increase in Ebitda was mainly sustained by higher prices for special and industrial waste treatment, the contribution coming from Aliplast and new facilities, such as the waste treatment plant completed in Cordenons (PN) and the innovative biomethane production plant in Sant’Agata Bolognese (BO), both now fully operational. The results also benefitted from the acquisitions of Cosea Ambiente, including the Gaggio Montano (BO) landfill, and Pistoia Ambiente, further reinforcing the basic capacity on which the Group’s set of waste recycling, reuse and regeneration plants can rely. As regards efficiency enhancement, note furthermore the merger of Waste Recycling into Herambiente Servizi Industriali, which is now Italy’s largest industrial waste management company, and Aliplast, which continues to show growth thanks to market development and merger synergies. These positive results were able to more than offset the lower incentives seen for electricity production. Operating capex amounting to 81.5 million euro, up over the previous year, went mainly to plant maintenance and upgrading. The waste management area accounted for 24.3% of Group Ebitda. Electricity area The electricity area – which includes services in electricity production, distribution and sales – recorded an Ebitda coming to 178.5 million, essentially in line with the 183.5 million seen the previous year. This result was mainly due to lower margins in the safeguarded market, which were offset by higher margins in electricity production in the distribution service market, for reasons including the plants in Campania, operational once again, higher volumes sold and lower costs for acquiring energy customers. Electricity customers rose to 1.3 million (+17.2%), up 184.2 thousand, thanks to the entry of EstEnergy and Amgas Blu within the Group’s consolidated scope, in addition to growth on the free market – which contributed with roughly 82 thousand new customers and 60 thousand new contracts for added value services – thanks to reinforced marketing initiatives, in particular in regions of Central Italy. This growth more than offset the fall in safeguarded customers. Operating capex amounting to 43.4 million euro, almost twice as much as the previous year, went mainly to non-recurring maintenance of plants and networks in the Modena, Imola, Trieste and Gorizia areas. An increase was also seen in requests for new connections. The electricity area accounted for 16.4% of Group Ebitda. Statement by Executive Chairman Tomaso Tommasi di Vignano These results demonstrate the merits of Hera’s multi-utility formula which, in a year made difficult by factors including a significant negative impact in the safeguarded customer segment, was able to deploy a wide range of development projects that guaranteed, quarter after quarter, positive growth in all activities. Our expectations were thus outperformed and, at the same time, our track record with 17 years of uninterrupted growth was confirmed, further improving our financial solidity in a year in which unprecedented efforts were seen in capital expenditures. In 2019, furthermore, two fundamental targets included in the business plan to 2022 were reached in advance: the finalised transaction with Ascopiave led the Hera Group to amply meet its objective of 3 million energy customers and, with our enlarged set of waste treatment plants, we were fully able to grasp the positive market trends seen as of 2019. Statement by CEO Stefano Venier The growth achieved with these results confirms the creation of value, as can be deduced by the rates of return on capital, maintained well above its average cost. The progress made by this value shows that it is increasingly shared, respecting 11 out of the 17 fundamental goals defined by the UN. The Group’s risk profile, now more important than ever, continues to be extremely conservative, and has allowed the Group to continue expanding through a transaction, involving Ascopiave, that brought us among the highest-ranking companies in Italy for energy sales, only behind the two ex-incumbent energy groups. These are solid grounds, therefore, on which to rely in difficult moment, such as the one currently witnessed due to COVID-19, with respect to which we were able to activate, in a short period of time, all measures necessary to guarantee that our activities are not interrupted and health protection is provided for our employees and for all our stakeholders, along with proactive assistance for all our customers, whether households or companies. 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 ), within 8 April 2020. Unaudited extracts from the Financial Statements at 31 December 2019 are attached. Profit & Loss (m€) 31/12/19 Inc.% 31/12/18 Inc.% Ch. Ch. % Sales 6,912.8 6,134.4 +778.4 +12.7% Other operating revenues 530.8 7.7% 492.0 8.0% +38.8 +7.9% Raw material (3,458.2) (50.0%) (2,984.1) (48.6%) +474.1 +15.9% Services costs (2,318.2) (33.5%) (2,040.5) (33.3%) +277.7 +13.6% Other operating expenses (59.3) (0.9%) (62.5) (1.0%) (3.2) (5.1%) Personnel costs (560.4) (8.1%) (551.4) (9.0%) +9.0 +1.6% Capitalisations 37.6 0.5% 43.3 0.7% (5.7) (13.2%) Ebitda 1,085.1 15.7% 1,031.1 16.8% +54.0 +5.2% Depreciation and provisions (542.6) (7.8%) (521.0) (8.5%) +21.6 +4.1% Ebit 542.5 7.8% 510.1 8.3% +32.4 +6.4% Financial inc./(exp.) (100.0) (1.4%) (91.7) (1.5%) +8.3 +9.1% Pre tax profit 442.5 6.4% 418.5 6.8% +24.0 +5.7% Tax (125.4) (1.8%) (121.9) (2.0%) +3.5 +2.9% Net profit 317.1 4.6% 296.6 4.8% +20.5 +6.9% Special items 84.9 1.2% 0.0 0.0% +84.9 +100.0% Net profit 402.0 5.8% 296.6 4.8% +105.4 +35.5% Attributable to: Shareholders of the Parent Company 385.7 5.6% 281.9 4.6% +103.8 +36.8% Minority shareholders 16.3 0.2% 14.7 0.2% +1.6 +10.9% Balance Sheet (m€) 31/12/19 Inc.% 31/12/18 Inc.% Ch. Ch. % Net fixed assets 6,846.3 108.9% 5,905.1 108.7% +941.2 +15.9% Working capital 87.0 1.4% 115.4 2.1% (28.4) (24.6%) (Provisions) (649.1) (10.3%) (588.2) (10.8%) (60.9) +10.4% Net invested capital 6,284.2 100.0% 5,432.3 100.0% +851.9 +15.7% Net equity 3,010.0 47.9% 2,846.7 52.4% +163.3 +5.7% Long term net financial debt 3,383.4 53.8% 2,558.8 47.1% +824.6 +32.2% Short term net financial debt (109.2) (1.7%) 26.8 0.5% (136.0) (507.5%) Net financial debts 3,274.2 52.1% 2,585.6 47.6% +688.6 +26.6% Net invested capital 6,284.2 100.0% 5,432.3 100.0% +851.9 +15.7% Financial results as at 31/12/2019 Press release results at 31/12/2019 2020-03-23 13:19:00 Financial results at 31/03/2020

2020-03-17 Kindly note that the following documentation, pertaining to the Shareholders Meeting convened for 29 April 2020, is available to the public at the Company headquarters, on the authorised storage website 1INFO (www.1Info.it) and on Hera Group's website (www.gruppohera.it/gruppo/corporate_governance/assemblee/): Hera S.p.A. Board of Directors' Explanatory Report regarding item 1 on the Agenda - Extraordinary session Hera S.p.A. Board of Directors' Explanatory Report regarding item 2 on the Agenda - Extraordinary session Hera S.p.A. Board of Directors' Explanatory Report regarding item 3 on the Agenda - Ordinary session Hera S.p.A. Board of Directors' Explanatory Report regarding item 4, 5, 6, and 7 on the Agenda - Ordinary session 20200317_Publication_of_documents_pertaining_to_the_Shareholders_Meeting_of_29_April_2020.1584430422.pdf 2019-03-28 08:30:00 110x150_heraspa.1475082913.jpg

2020-01-31 Hera acquires 2.5% of Ascopiave's share capital from Amber Hera acquires 2.5% of Ascopiave's share capital from Amber. The shareholding purchase operation, which arose from a market opportunity, was shared with Asco Holding. It further reinforces the partnership launched with the transaction finalised last December and will be followed by a similar transaction by Ascopiave. 20200131_comunicato_azioni_Ascopiave_ENG.1580457419.pdf 2020-01-31 08:51:00 Hera acquires 2.5% of Ascopiave's share capital from Amber

2020-01-30 Tomaso Tommasi di Vignano - Hera's Executive Chairman The Group has been certified for the eleventh consecutive year, rewarding a strategic management that focuses on people and gets them involved in pursuing shared goals. Investments in welfare, training, diversity and innovation continue. The Hera Group is once again a Top Employer "Receiving this certification for the eleventh consecutive year proves that the path we have taken is valid", states Hera's Executive Chairman, Tomaso Tommasi di Vignano. "This does not lead us to believe, however, that it is sufficient. Indeed, we wish to continue dedicating significant resources to our employees, in terms of development, wellbeing and training. We will thus offer them the best working conditions possible, which also means guaranteeing an inclusive and participative workplace. Hera is a constantly growing company, and its results are due to the commitment shown by its employees, who with their daily activities create value in the areas we serve. The path before us leads to the best services for citizens and local communities, and without people, without putting them at the centre of value-creating processes, without giving them a sense of being protagonists in the business and the challenges of our times, no strategy could be converted into reality". Tomaso Tommasi di Vignano - Hera's Executive Chairman 20200130_comunicato_Top_Employers_2020_eng.1580395393.pdf 2020-01-30 sinistra 15:02:00 The Hera Group is once again a Top Employer

2020-01-24 The multi-utility has now become part of this index, which measures gender equality and the promotion of diversity and inclusion, examining 325 listed companies, 10 of which Italian, in 42 countries worldwide Hera Group included in the 2020 Bloomberg Gender-Equality Index The multi-utility has now become part of this index, which measures gender equality and the promotion of diversity and inclusion, examining 325 listed companies, 10 of which Italian, in 42 countries worldwide The Hera Group has once again been confirmed among the Italian and foreign companies most attentive to gender equality and diversity and inclusion promotion. It has indeed become part of the 2020 Bloomberg Gender-Equality Index, which examines 325 listed companies in 42 countries worldwide, committed to promoting and creating equal and inclusive workplaces, thanks to the development of specific policies and projects. Ten Italian companies are included in the index. Attention towards diversity is unquestionably an increasingly central issue for the international financial community, with investors showing a growing interest in listed companies with outstanding policies in this area. This index evaluates companies' diversity activities based on five main parameters, analysed both quantitatively and qualitatively: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, specifically structured harassment prevention and sanctioning policies, a brand that recognisably and holistically supports the female gender. The evaluation criteria also include transparency in information provided on the issue of gender equality. The Hera Group reached particularly outstanding results in the latter area, with a score of 93.94%, outdoing the best practices of international companies (whose average comes to 89.92%) and the utility sector (with an average of 92.73%). Excellent results were also seen in the multi-utility's harassment prevention and sanctioning policies, with a score coming to 80.00% (as opposed to a national average of 57.75%, and 57.92% in the utility sector). Lastly, Hera also achieved quite good results in "female leadership and pipeline" (52.63%) and as a "brand that recognisably supports women" (65.00%). "The Hera Group is pleased to be included in the Bloomberg Gender-Equality Index", states Hera CEO Stefano Venier. "This fact recognises the quality and authenticity of the path taken by the Group, which over time has been enriched with new contents and dimensions, involving an ever-wider set of female and male colleagues, as well as external bodies committed toward these issues. Indeed, if advances of this type are made, they make sense above all when they are shared by the entire socio-economic system. We will thus interpret this as an invitation to continue along the same path and to consolidate an orientation that puts gender inclusion at the very heart of our development policies". Additional evidence of the Hera Group's attention towards promoting diversity, inclusion and people development comes from the score it achieved in the 2019 Refinitiv "Diversity & Inclusion Index" (formerly Thomson Reuters), that each year evaluates over 7,000 listed companies across the world. Last year, Hera ranked as the 3rd company in Italy and 14th internationally, further improving its position (after coming in 22nd in 2018) and confirming itself as the leading multi-utility in this global ranking. The Hera Group's commitment to diversity and inclusion policies, moreover, began quite some time ago and was consolidated in 2009 when it signed the Charter for equal opportunity and fairness on the workplace. A key element was the introduction, in 2011, of a Diversity Manager, whose goal is to additionally favour the development of inclusion policies and diversity valorisation. With these activities, Hera actively contributes to the United Nations' fifth sustainable development goal (SDG), specifically dedicated to gender equality. Furthermore, Hera continues to work on developing internal and personalised career paths, and this orientation has allowed it to reach a percentage of women with roles of responsibility that in 2019 came to 29%. The amount of female personnel, which increased overall, settled at 26.5%. In addition to this data, one must also add that the percentage of disable employees reaches 4.9% of the total, which corresponds to a significant amount of support for inclusion of people with special needs. A significant contribution also comes from training. 99% of the Group's workers were involved in training activities in 2019, with a per capita average of approximately 28.6 hours. The various initiatives include the extension of smart working and leadership courses, which favour the development of human resources based on the different characteristics of each employee (gender, age, training, aptitude and skills). Nor should one forget the introduction of innovative training activities that use the gamification methodology, such as the recent Diversity@work, conceived precisely to raise awareness of diversity and inclusion culture among the all of the company's employees. Other positive effects unquestionably come from the company welfare plan, Hextra, which in many ways supports employees and their families (the overall value of the services provided came to 4.5 million euro in 2019). Lastly, many significant projects give concrete shape to plurality management, such as scholarships, agreements with summer schools, work-life balance initiatives and the availability of parental leave, given not only to mothers and fathers but also those who care for elderly relatives. Not by chance, the results that emerge from enquiries on the company climate continue to be encouraging and are additionally confirmed by the absence of litigation involving diversity and inclusion. 20200124_Bloomberg_Gender_Equality_Index_engl.1579880776.pdf 2020-01-24 11:19:00 Hera Group included in the 2020 Bloomberg Gender-Equality Index

2020-01-21 Calendar of events CALENDAR OF CORPORATE EVENTS (*) In accordance with art. 2.6.2 (Required Reporting) of the "Rules of the markets organised and managed by Borsa Italiana S.p.A.", please find below our annual calendar of corporate events: 25 March 2020 - Meeting of the Board of Directors to approve the previous year's preliminary financial statements. 29 April 2020 - Shareholders' Meeting to approve the previous year's financial statements. 13 May 2020 - Meeting of the Board of Directors to approve additional financial information for the period ending on 31 March 2020. 29 July 2020 - Meeting of the Board of Directors to approve the half-year financial report as at 30 June 2020. 11 November 2020 - Meeting of the Board of Directors to approve additional financial information for the period ending on 30 September 2020. The Board of Directors, as communicated for the previous financial year and in line with the past, in order to guarantee regularity in the information provided to the financial market and investors, has decided to continue preparing and publishing this information quarterly, on a voluntary basis and in line with current regulations. (*) barring changes CS_CALENDAR_OF_CORPORATE_EVENTS_2020_ENG.1579599066.pdf 2017-01-26 09:48:00 Related contents Calendario degli eventi

2020-01-10 In light of the positive preliminary results for 2019, showing higher growth than expected in the previous Plan, and the M&A transactions carried out, the Group has presented its new five-year strategic document. This reflects its commitment towards further industrial development, sustained by investments, innovation and an eye to sustainability. Hera has confirmed its role as a "local multi-utility", capable of creating value for the areas in which it operates and for all stakeholders. In light of the positive preliminary results for 2019, showing higher growth than expected in the previous Plan, and the M&A transactions carried out, the Group has presented its new five-year strategic document. This reflects its commitment towards further industrial development, sustained by investments, innovation and an eye to sustainability. Hera has confirmed its role as a "local multi-utility", capable of creating value for the areas in which it operates and for all stakeholders. [block]div:row-fluid::db:hr_ir::box:177[/block] Operating and financial highlights 2023 Ebitda: 1,250 million euro (+219 million over 2018 Ebitda) Overall industrial and financial investments: roughly 2.9 billion euro 2023 Net debt/Ebitda ratio at 2.8 Further increase expected in dividends, reaching 12.0 cents per share in 2023 (+20% over the five years) Industrial highlights Strategy based on 3 directives: industrial growth, risk management and circular economy Development driven by a balanced mix between internal and external (M&A) growth Goal of 3.5 million energy customers by 2023, with strong growth thanks to the recent partnership with Ascopiave, which allowed the target included in the previous Business plan to be met 2 years in advance 2023 Shared Value: 530 million euro Preliminary results for 2019 show Ebitda at 1,081 million; a new Plan to accompany development Today, the Hera Group's Board of Directors, chaired by Tomaso Tommasi di Vignano, approved the Business plan to 2023. The year-end projections confirm results exceeding expectations, due to both the highly positive results seen in the third quarter report at 30 September 2019, and the performances projected for the last quarter of the year. Ebitda is expected to reach roughly 1,081 million euro, up 4.85% compared to the 1,031.1 million seen in 2018, with the Net debt/Ebitda ratio settling at roughly 2.5, before including the financial impact of the Ascopiave transaction, which brings this indicator to roughly 3.05. In light of these positive results - and following up on 17 years of uninterrupted growth, which has led Hera to consolidate a position of leadership in all businesses - the Group now presents its new five-year strategic document, which reflects its strong commitment towards further industrial growth, along with a renewed emphasis on circularity and risk management and mitigation. The new Business plan confirms and consolidates Hera's role as a "local multi-utility", which bases its own growth on the creation of increasing value for the ecosystem in which it operates and for all its stakeholders. The scenario: options for growth, along with a range of opportunities Even within a complex national economic scenario, marked by limited prospects for growth, Hera intends to continue along its path of development and maintain the resilience it has shown over time in this type of context. This will be achieved by relying on its noteworthy available asset portfolio, the skills of its employees, the diversified portfolio mix and the opportunities now emerging in its various business areas. The growing attention shown by European institutions towards promoting sustainable growth, with interventions such as the recent "A European Green Deal" program, will give further value to the goals already pursued by the Group in recent years, in terms of sustainability, innovation and circularity in its business management models. In regulated sectors, growth opportunities are linked to the reassignment of concessions through tenders and ongoing changes in Arera tariff regulation which, as of 2020, will be responsible for the waste management sector as well. In free market waste management activities, the persistent shortcomings in waste treatment plants on a national and European level sustains a positive trend in prices and demand, going to the advantage of operators provided with adequate infrastructures. As regards free market energy sales, over the period of time covered by the Plan, new yearly/two-year tenders for assigning last resort services are expected to be held and a process of liberalising protected electricity customers "maggior tutela" is expected to be gradually introduced. Growth, risk management and circular economy: the three pillars of the new Business plan In such context, Hera has defined its Plan to 2023 by elaborating marketing and industrial growth strategies based on an increasingly sustainable business model, making the most of the opportunities offered by new technologies and digital evolution. The new strategic document aims at leveraging upon the competitive advantages of its multi-utility portfolio: a wide service portfolio marked by a significant amount of regulated services; solidity in assets and finance; an ability to fund significant investments; a corporate environment and experience geared towards efficiency and innovation; and the investments constantly made in training its roughly 9,000 employees. In particular, the Group has set out its Plan to 2023 by following 3 strategic directives. Firstly, industrial growth, which is indispensable in order to be able to continue distributing value to an increasing degree. Secondly, risk management, with the medium- long-term approach required to anticipate the actions involved in mitigating the risks to which multi-utilities are exposed, first and foremost the ones tied to climate change. Lastly, circular economy, continuing to promote projects and concrete initiatives that are effective in orienting objectives including reduction, reuse, recycling, recovery or regeneration. Attention towards sustainability remains a fundamental aspect of the Group's strategy, reflecting the goals set out in the 2030 Agenda that concern the Group's activities (covering 11 of the UN's 17 SDGs): almost 3/4 of the growth expected over the period covered by the Plan will be sustained by projects that respond to this "call to action", thus bringing shared value Ebitda - i.e., the value of business activities which, in addition to generating operating income,respond to the drivers for sustainable growth - to reach 530 million euro in 2023 (or 42% of overall Ebitda). Almost 2.9 billion euro in investments; solidity confirmed in assets and finance The new Business plan foresees investments coming to roughly 2.9 billion euro, of which roughly 2 billion will go towards maintenance of currently owned plants and 900 million in plant expansion. In particular, investments for internal plant development are expected to rise, now coming to 540 million, 120 more (+30%) than in the previous plan. The investments included in the Plan, as usual, will mainly be concentrated in regulated activities, which have now acquired higher visibility thanks to the new tariff system recently approved by the Authority. 73% of the total will go towards networks and urban waste management, with interventions aimed at modernising and developing infrastructures, confirming the Group's particular attention towards resilience, innovation and quality in the services provided to local areas. The investment plan, lastly, is entirely covered from a financial point of view, thanks to both the results that exceeded expectations in 2019, and an increased cash generation foreseen over the period covered by the Plan, which will also be able to cover the dividends paid. On this matter, one must note that the attention Hera has shown over time to the solidity of its assets and its financial balance has allowed it to include projects for expansion through M&As in its new strategic document, in addition to the ones already finalised over the previous year, including the partnership with Ascopiave. At the same time, space to manoeuvre remains, as does the flexibility required to grasp any additional opportunities for external growth in the upcoming years, not included in the current Plan. The ratio between net debt and Ebitda is expected to settle at 2.8 in 2023, improving over the previous Plan, which forecasted this ratio at 2.9 in 2022. Ebitda up to 1,250 million, showing a balanced mix: between business areas and localities served, between regulated and free market activities, and between internal and external growth In line with these investments, the Hera Group expects Ebitda to reach 1,250 million euro in 2023, increasing by 219 million over the 1,031.1 million seen at the end of 2018, with an average annual increase coming to roughly 44 million, and 65 million higher than the final figure projected in the previous plan (in 2022). The trends expected in Ebitda are the result of contributions coming from all areas (networks, waste management and energy, but also telecommunications and public lighting), with evenly distributed and sustainable growth, and the usual balance between internal and external development, and between regulated and free market activities. Thanks to synergies, efficiency-enhancing initiatives, expansion in market share and investments supporting industrial development, the contribution to increased Ebitda coming from internal growth amounts to 112 million (123 including lower incentives for waste-to-energy activities), while external development is expected to provide an additional 107 million in growth. Value for shareholders and rising dividends The new Plan confirms the Group's attention towards creating shared value for all stakeholders, beginning with shareholders, and towards transparency in its dividend policies. The dividend due for 2019, set at 10.0 cents per share, will indeed rise to 10.5 cents per share in 2020, 11.0 in 2021 and 11.5 in 2022, ultimately reaching 12.0 cents per share in 2023 (+20% compared to the last dividend paid in 2018). The rate of growth is thus higher than the one included in the previous Business plan, which called for an increase in dividends every two years. Innovation, resilience and resource protection for networks: from new meters to interventions for the business continuity and the reuse of water Almost half of the Ebitda expected by the end of the period covered by the Plan will involve networks, which include services in electricity and gas distribution, the water cycle and district heating: Ebitda forecasted for 2023 comes to 537 million euro, up over the 464 million seen in 2018. The Hera Group will invest most of its resources from 2019 to 2023 in networks (roughly 1,900 million), dedicated to extending, modernising and technologically upgrading them, to guarantee resilience and business continuity in its services. A significant part of these resources will go towards renewing meters: over the period covered by the Plan, over 500,000 water meters are expected to be installed, along with 150,000 electricity meters and 650,000 gas meters, of which 300,000 NexMeter, Hera's new smart gas meter 4.0, provided with advanced technology and functions in the event of leaks or earthquakes. These interventions will help further improve the services provided to customers and will contribute to making localities we serve become smart cities. The greater resources available for networks is partially linked to changes in the timing expected for tenders in gas distribution in areas served by the Group. Indeed, based on an updated analysis of the state of progress the of activities of contracting authorities, as well as the timing and the outcome of the few tenders already concluded nationwide, a decision was made to postpone the expected tenders by roughly two years, thus shifting beyond 2023 part of the investments that the previous Plan had designated to detecting outgoing third party delivery points following the expected confirmation of the Group in the areas it serves. In the water cycle, the Group's main projects will be designed to provide a response to climate change, contributing to facing it through a notable reduction of the Group's "water footprint": "water management" responsibilities will be developed and reinforced both inside and outside the Group, interventions will take place supporting the resilience of water networks, even in case of drought or excessive precipitation, and projects favouring protection of water resources will be promoted. As regards the latter point, the focus will go to reusing purified water, as a fundamental tool to manage situations in which water is scarce. Among the initiatives already ongoing, note the projects launched in Bologna (Idar and other minor purifiers) and a potential extension in the area surrounding Modena (involving the Sassuolo and Savignano sul Panaro purifiers). Over the period covered by the Plan, these initiatives are expected to be extended to other areas as well (Rimini, Forlì, Ravenna, Ferrara), so as to reach an overall volume of purified and reusable waste water coming to roughly 20 million cubic metres per year. As regards the district heating sector, Hera has confirmed its growing interest in the technological solutions that will play a significant role in decarbonisation across the area, with 75% of the heat injected into networks by the Group coming from renewable and comparable sources. Among the projects currently under evaluation to extend the contribution coming from district heating networks, note the possible connection between the two district heating systems found in Bologna (in San Giacomo and the Pilastro CAAB system), in order to generate significant synergies and extract further environmental benefits that go to the advantage of the area. Leader in the waste management area, thanks to sorted waste, solutions for waste transportation and outstanding projects for a circular economy Increases are also expected for Ebitda in the waste management area, which will go from 252 million in 2018 to 307 in 2023, with 618 million in investments expected between 2019 and 2023. In this sector, the Group aims at confirming its commercial and technological leadership in the integrated waste cycle, thanks to its avant-garde set of plants which are in line with European best practices, which will be further developed in the years to come with the goal of increasing resource protection and maximising reuse. One example comes from biomethane production plants. The experience acquired from the Sant'Agata Bolognese (BO) plant - which transforms the organic portion of sorted waste into compost and biomethane which fuels buses, taxis and private vehicles - will lead new projects to be introduced in areas served by the Group, supporting the model of a circular economy. In particular, over the period covered by the Plan, the Voltana anaerobic digester, located in the area surrounding Ravenna, will also be partially reconverted to produce biomethane. Within 2023 the Hera Group furthermore expects an additional rise in sorted waste in the areas served, up from the 62.5% seen in 2018 to 75% in 2023. The Group's objective is to improve its quality as well, thanks to numerous campaigns designed to raise awareness and initiatives meant to get citizens involved. The circular model, indeed, in addition to the appropriate type of plants, also requires coherent individual and collective behaviour. A larger and better amount of sorted waste leads to further circular business opportunities. One example can be seen in the partnership between Hera and Eni intended to produce biofuel from waste oil brought by citizens, which is expected to be extended to other areas served by the Group, outside Emilia-Romagna, where the pilot project took place. A second example lies in the 62% growth, compared to 2017 and expected by the end of the period covered by the Plan, in the amount of plastic recycled by Aliplast, which results from the company's new activity in recycling rigid plastics. In this way, the Group will further contribute to a sustainable development of the plastic sector, a central issue in Italian and European policies, as well as current debate. The possibility, unique nationwide, of offering integrated and circular solutions and of extracting synergies between Herambiente and Aliplast's customer portfolio will boost growth in customers in the waste sector, with marketing offers adapted to specific needs and able to offer the largest customers a complete consultancy, with across-the-board solutions, also covering circularity in water resources and energy services. The energy sector: over 3.5 million customers in 2023, thanks to factors including the partnership with Ascopiave and new opportunities for growth In 2023, Ebitda for the energy sector will amount to 363 million euro, up compared to the 286 seen in 2018, while the investments foreseen over the period covered by the Plan will come to 295 million. In the next few years, the Group will continue along its path of enlarging its customer base, with the goal of reaching 3.5 million customers in the energy sector within 2023. This target has been revised with respect to the previous plan, now higher thanks to the effect of the recent partnership with Ascopiave, which consolidated the Groups presence in the North-East and allowed the previously defined target (3 million customers) to be met over 2 years in advance. The transaction with Ascopiave furthermore brought Hera to rank third in energy sales nationwide. This growing customer base will be achieved thanks to both marketing development - supported by innovative offers, services with added value and increasing customer experience for each type of customer - and the opportunities ensuing from new assignments of last resort services and the gradual disappearance of the protected electricity market. The most noteworthy marketing offers will be those oriented towards promoting circularity within the energy sector, i.e. accompanied by "green" supply or new initiatives in energy savings, with methods including the application of behavioural economics to modify individual habits. Energy efficiency interventions will affect not only Hera's customers, but Group companies as well: the new objective for 2023 in reducing Hera's consumption Hera comes to 6.5% compared to the amount required in 2013. Again reflecting a rationale of circularity and attention towards resources, and in line with national and European objectives, the Group aims at developing further solutions for energy saving in local authorities, industrial units and apartment buildings, with offers tailored to the specific needs of each category. Lastly, Hera also creates multi-business circular and energy-efficiency solutions, combining energy services and public lighting. In the latter area, over 560,000 lighting points, 25% of which Led, are expected to be managed by 2023. Tomaso Tommasi di Vignano, Hera Executive Chairman The goals set out in the Business plan we are presenting today are in line with our history: for 17 years, we have been growing uninterruptedly, creating value for the areas in which we operate and for all stakeholders, beginning with our shareholders. This value translates into concrete benefits, concerning for example the investments made in services and plants, which become assets of the area itself, and in the activities in which Hera involves citizens, institutions, workers, suppliers and members of the third sector, acting as an "enabler" for their own growth. Our Plan is able to rely on both a solid initial basis - with preliminary year-end results 3% higher than expected - and significant growth in 2020, sustained among other things by the transaction with Ascopiave, which will now begin to contribute to our results. At the same time, we expect our growth to continue thanks to further M&As, while maintaining the financial flexibility required to grasp additional opportunities. The Group's development has indeed been achieved by always maintaining, and even improving its financial soundness, now expecting the net debt/Ebitda ratio to reach 2.8 in 2023, instead of the 2.9 set down in the previous Plan. Dividends will also rise, with a rate of growth coming to 0.5 cents per year, ultimately reaching 12.0 cents per share pertaining to 2023. Stefano Venier, Hera CEO Our Business plan's orientations, just like the initiatives carried out by Hera in previous years, reflect our growing attention towards sustainable development, circular economy and decarbonisation. Within the Group, sustainability is built into our corporate strategies themselves: by 2023, 42% of Ebitda will involve "shared value", that is, projects that respond to the goals contained in the Un Agenda. In this area, investments will come to over 950 million euro over the period covered by the Plan, of which 330 million to make our cities increasingly smart, thanks to innovation and technological evolution, or again projects promoting energy efficiency, recovery and reuse of materials, air quality and network resilience, in order to face climate change. What's more, we are looking even farther into the future, with the objective of reducing the impact of our activities up to 2030, in all areas in which we operate: this involves our "footprint" not only as regards carbon, but also water and the use of natural resources. Our goals for 2030 include an increase in the amount of urban waste recycled, reaching 67% and thus overcoming the EU target set at 65%; a further reduction in the Group's energy consumption, which will fall by 10% compared to 2013; and eliminating linear leakage in the water cycle by 7% compared to 2018. These commitments are perfectly in line with the principles of a circular economy and the very nature of our businesses. 2020-01-10 13:10:00

2020-01-10 In light of the positive preliminary results for 2019, showing higher growth than expected in the previous Plan, and the M&A transactions carried out, the Group has presented its new five-year strategic document. This reflects its commitment towards further industrial development, sustained by investments, innovation and an eye to sustainability. Hera has confirmed its role as a "local multi-utility", capable of creating value for the areas in which it operates and for all stakeholders. Hera Group approves Business Plan to 2023 In light of the positive preliminary results for 2019, showing higher growth than expected in the previous Plan, and the M&A transactions carried out, the Group has presented its new five-year strategic document. This reflects its commitment towards further industrial development, sustained by investments, innovation and an eye to sustainability. Hera has confirmed its role as a "local multi-utility", capable of creating value for the areas in which it operates and for all stakeholders. [block]div:row-fluid::db:hr_ir::box:177[/block] Operating and financial highlights 2023 Ebitda: 1,250 million euro (+219 million over 2018 Ebitda) Overall industrial and financial investments: roughly 2.9 billion euro 2023 Net debt/Ebitda ratio at 2.8 Further increase expected in dividends, reaching 12.0 cents per share in 2023 (+20% over the five years) Industrial highlights Strategy based on 3 directives: industrial growth, risk management and circular economy Development driven by a balanced mix between internal and external (M&A) growth Goal of 3.5 million energy customers by 2023, with strong growth thanks to the recent partnership with Ascopiave, which allowed the target included in the previous Business plan to be met 2 years in advance 2023 Shared Value: 530 million euro Preliminary results for 2019 show Ebitda at 1,081 million; a new Plan to accompany development Today, the Hera Group's Board of Directors, chaired by Tomaso Tommasi di Vignano, approved the Business plan to 2023. The year-end projections confirm results exceeding expectations, due to both the highly positive results seen in the third quarter report at 30 September 2019, and the performances projected for the last quarter of the year. Ebitda is expected to reach roughly 1,081 million euro, up 4.85% compared to the 1,031.1 million seen in 2018, with the Net debt/Ebitda ratio settling at roughly 2.5, before including the financial impact of the Ascopiave transaction, which brings this indicator to roughly 3.05. In light of these positive results - and following up on 17 years of uninterrupted growth, which has led Hera to consolidate a position of leadership in all businesses - the Group now presents its new five-year strategic document, which reflects its strong commitment towards further industrial growth, along with a renewed emphasis on circularity and risk management and mitigation. The new Business plan confirms and consolidates Hera's role as a "local multi-utility", which bases its own growth on the creation of increasing value for the ecosystem in which it operates and for all its stakeholders. The scenario: options for growth, along with a range of opportunities Even within a complex national economic scenario, marked by limited prospects for growth, Hera intends to continue along its path of development and maintain the resilience it has shown over time in this type of context. This will be achieved by relying on its noteworthy available asset portfolio, the skills of its employees, the diversified portfolio mix and the opportunities now emerging in its various business areas. The growing attention shown by European institutions towards promoting sustainable growth, with interventions such as the recent "A European Green Deal" program, will give further value to the goals already pursued by the Group in recent years, in terms of sustainability, innovation and circularity in its business management models. In regulated sectors, growth opportunities are linked to the reassignment of concessions through tenders and ongoing changes in Arera tariff regulation which, as of 2020, will be responsible for the waste management sector as well. In free market waste management activities, the persistent shortcomings in waste treatment plants on a national and European level sustains a positive trend in prices and demand, going to the advantage of operators provided with adequate infrastructures. As regards free market energy sales, over the period of time covered by the Plan, new yearly/two-year tenders for assigning last resort services are expected to be held and a process of liberalising protected electricity customers "maggior tutela" is expected to be gradually introduced. Growth, risk management and circular economy: the three pillars of the new Business plan In such context, Hera has defined its Plan to 2023 by elaborating marketing and industrial growth strategies based on an increasingly sustainable business model, making the most of the opportunities offered by new technologies and digital evolution. The new strategic document aims at leveraging upon the competitive advantages of its multi-utility portfolio: a wide service portfolio marked by a significant amount of regulated services; solidity in assets and finance; an ability to fund significant investments; a corporate environment and experience geared towards efficiency and innovation; and the investments constantly made in training its roughly 9,000 employees. In particular, the Group has set out its Plan to 2023 by following 3 strategic directives. Firstly, industrial growth, which is indispensable in order to be able to continue distributing value to an increasing degree. Secondly, risk management, with the medium- long-term approach required to anticipate the actions involved in mitigating the risks to which multi-utilities are exposed, first and foremost the ones tied to climate change. Lastly, circular economy, continuing to promote projects and concrete initiatives that are effective in orienting objectives including reduction, reuse, recycling, recovery or regeneration. Attention towards sustainability remains a fundamental aspect of the Group's strategy, reflecting the goals set out in the 2030 Agenda that concern the Group's activities (covering 11 of the UN's 17 SDGs): almost 3/4 of the growth expected over the period covered by the Plan will be sustained by projects that respond to this "call to action", thus bringing shared value Ebitda - i.e., the value of business activities which, in addition to generating operating income,respond to the drivers for sustainable growth - to reach 530 million euro in 2023 (or 42% of overall Ebitda). Almost 2.9 billion euro in investments; solidity confirmed in assets and finance The new Business plan foresees investments coming to roughly 2.9 billion euro, of which roughly 2 billion will go towards maintenance of currently owned plants and 900 million in plant expansion. In particular, investments for internal plant development are expected to rise, now coming to 540 million, 120 more (+30%) than in the previous plan. The investments included in the Plan, as usual, will mainly be concentrated in regulated activities, which have now acquired higher visibility thanks to the new tariff system recently approved by the Authority. 73% of the total will go towards networks and urban waste management, with interventions aimed at modernising and developing infrastructures, confirming the Group's particular attention towards resilience, innovation and quality in the services provided to local areas. The investment plan, lastly, is entirely covered from a financial point of view, thanks to both the results that exceeded expectations in 2019, and an increased cash generation foreseen over the period covered by the Plan, which will also be able to cover the dividends paid. On this matter, one must note that the attention Hera has shown over time to the solidity of its assets and its financial balance has allowed it to include projects for expansion through M&As in its new strategic document, in addition to the ones already finalised over the previous year, including the partnership with Ascopiave. At the same time, space to manoeuvre remains, as does the flexibility required to grasp any additional opportunities for external growth in the upcoming years, not included in the current Plan. The ratio between net debt and Ebitda is expected to settle at 2.8 in 2023, improving over the previous Plan, which forecasted this ratio at 2.9 in 2022. Ebitda up to 1,250 million, showing a balanced mix: between business areas and localities served, between regulated and free market activities, and between internal and external growth In line with these investments, the Hera Group expects Ebitda to reach 1,250 million euro in 2023, increasing by 219 million over the 1,031.1 million seen at the end of 2018, with an average annual increase coming to roughly 44 million, and 65 million higher than the final figure projected in the previous plan (in 2022). The trends expected in Ebitda are the result of contributions coming from all areas (networks, waste management and energy, but also telecommunications and public lighting), with evenly distributed and sustainable growth, and the usual balance between internal and external development, and between regulated and free market activities. Thanks to synergies, efficiency-enhancing initiatives, expansion in market share and investments supporting industrial development, the contribution to increased Ebitda coming from internal growth amounts to 112 million (123 including lower incentives for waste-to-energy activities), while external development is expected to provide an additional 107 million in growth. Value for shareholders and rising dividends The new Plan confirms the Group's attention towards creating shared value for all stakeholders, beginning with shareholders, and towards transparency in its dividend policies. The dividend due for 2019, set at 10.0 cents per share, will indeed rise to 10.5 cents per share in 2020, 11.0 in 2021 and 11.5 in 2022, ultimately reaching 12.0 cents per share in 2023 (+20% compared to the last dividend paid in 2018). The rate of growth is thus higher than the one included in the previous Business plan, which called for an increase in dividends every two years. Innovation, resilience and resource protection for networks: from new meters to interventions for the business continuity and the reuse of water Almost half of the Ebitda expected by the end of the period covered by the Plan will involve networks, which include services in electricity and gas distribution, the water cycle and district heating: Ebitda forecasted for 2023 comes to 537 million euro, up over the 464 million seen in 2018. The Hera Group will invest most of its resources from 2019 to 2023 in networks (roughly 1,900 million), dedicated to extending, modernising and technologically upgrading them, to guarantee resilience and business continuity in its services. A significant part of these resources will go towards renewing meters: over the period covered by the Plan, over 500,000 water meters are expected to be installed, along with 150,000 electricity meters and 650,000 gas meters, of which 300,000 NexMeter, Hera's new smart gas meter 4.0, provided with advanced technology and functions in the event of leaks or earthquakes. These interventions will help further improve the services provided to customers and will contribute to making localities we serve become smart cities. The greater resources available for networks is partially linked to changes in the timing expected for tenders in gas distribution in areas served by the Group. Indeed, based on an updated analysis of the state of progress the of activities of contracting authorities, as well as the timing and the outcome of the few tenders already concluded nationwide, a decision was made to postpone the expected tenders by roughly two years, thus shifting beyond 2023 part of the investments that the previous Plan had designated to detecting outgoing third party delivery points following the expected confirmation of the Group in the areas it serves. In the water cycle, the Group's main projects will be designed to provide a response to climate change, contributing to facing it through a notable reduction of the Group's "water footprint": "water management" responsibilities will be developed and reinforced both inside and outside the Group, interventions will take place supporting the resilience of water networks, even in case of drought or excessive precipitation, and projects favouring protection of water resources will be promoted. As regards the latter point, the focus will go to reusing purified water, as a fundamental tool to manage situations in which water is scarce. Among the initiatives already ongoing, note the projects launched in Bologna (Idar and other minor purifiers) and a potential extension in the area surrounding Modena (involving the Sassuolo and Savignano sul Panaro purifiers). Over the period covered by the Plan, these initiatives are expected to be extended to other areas as well (Rimini, Forlì, Ravenna, Ferrara), so as to reach an overall volume of purified and reusable waste water coming to roughly 20 million cubic metres per year. As regards the district heating sector, Hera has confirmed its growing interest in the technological solutions that will play a significant role in decarbonisation across the area, with 75% of the heat injected into networks by the Group coming from renewable and comparable sources. Among the projects currently under evaluation to extend the contribution coming from district heating networks, note the possible connection between the two district heating systems found in Bologna (in San Giacomo and the Pilastro CAAB system), in order to generate significant synergies and extract further environmental benefits that go to the advantage of the area. Leader in the waste management area, thanks to sorted waste, solutions for waste transportation and outstanding projects for a circular economy Increases are also expected for Ebitda in the waste management area, which will go from 252 million in 2018 to 307 in 2023, with 618 million in investments expected between 2019 and 2023. In this sector, the Group aims at confirming its commercial and technological leadership in the integrated waste cycle, thanks to its avant-garde set of plants which are in line with European best practices, which will be further developed in the years to come with the goal of increasing resource protection and maximising reuse. One example comes from biomethane production plants. The experience acquired from the Sant'Agata Bolognese (BO) plant - which transforms the organic portion of sorted waste into compost and biomethane which fuels buses, taxis and private vehicles - will lead new projects to be introduced in areas served by the Group, supporting the model of a circular economy. In particular, over the period covered by the Plan, the Voltana anaerobic digester, located in the area surrounding Ravenna, will also be partially reconverted to produce biomethane. Within 2023 the Hera Group furthermore expects an additional rise in sorted waste in the areas served, up from the 62.5% seen in 2018 to 75% in 2023. The Group's objective is to improve its quality as well, thanks to numerous campaigns designed to raise awareness and initiatives meant to get citizens involved. The circular model, indeed, in addition to the appropriate type of plants, also requires coherent individual and collective behaviour. A larger and better amount of sorted waste leads to further circular business opportunities. One example can be seen in the partnership between Hera and Eni intended to produce biofuel from waste oil brought by citizens, which is expected to be extended to other areas served by the Group, outside Emilia-Romagna, where the pilot project took place. A second example lies in the 62% growth, compared to 2017 and expected by the end of the period covered by the Plan, in the amount of plastic recycled by Aliplast, which results from the company's new activity in recycling rigid plastics. In this way, the Group will further contribute to a sustainable development of the plastic sector, a central issue in Italian and European policies, as well as current debate. The possibility, unique nationwide, of offering integrated and circular solutions and of extracting synergies between Herambiente and Aliplast's customer portfolio will boost growth in customers in the waste sector, with marketing offers adapted to specific needs and able to offer the largest customers a complete consultancy, with across-the-board solutions, also covering circularity in water resources and energy services. The energy sector: over 3.5 million customers in 2023, thanks to factors including the partnership with Ascopiave and new opportunities for growth In 2023, Ebitda for the energy sector will amount to 363 million euro, up compared to the 286 seen in 2018, while the investments foreseen over the period covered by the Plan will come to 295 million. In the next few years, the Group will continue along its path of enlarging its customer base, with the goal of reaching 3.5 million customers in the energy sector within 2023. This target has been revised with respect to the previous plan, now higher thanks to the effect of the recent partnership with Ascopiave, which consolidated the Groups presence in the North-East and allowed the previously defined target (3 million customers) to be met over 2 years in advance. The transaction with Ascopiave furthermore brought Hera to rank third in energy sales nationwide. This growing customer base will be achieved thanks to both marketing development - supported by innovative offers, services with added value and increasing customer experience for each type of customer - and the opportunities ensuing from new assignments of last resort services and the gradual disappearance of the protected electricity market. The most noteworthy marketing offers will be those oriented towards promoting circularity within the energy sector, i.e. accompanied by "green" supply or new initiatives in energy savings, with methods including the application of behavioural economics to modify individual habits. Energy efficiency interventions will affect not only Hera's customers, but Group companies as well: the new objective for 2023 in reducing Hera's consumption Hera comes to 6.5% compared to the amount required in 2013. Again reflecting a rationale of circularity and attention towards resources, and in line with national and European objectives, the Group aims at developing further solutions for energy saving in local authorities, industrial units and apartment buildings, with offers tailored to the specific needs of each category. Lastly, Hera also creates multi-business circular and energy-efficiency solutions, combining energy services and public lighting. In the latter area, over 560,000 lighting points, 25% of which Led, are expected to be managed by 2023. Tomaso Tommasi di Vignano, Hera Executive Chairman The goals set out in the Business plan we are presenting today are in line with our history: for 17 years, we have been growing uninterruptedly, creating value for the areas in which we operate and for all stakeholders, beginning with our shareholders. This value translates into concrete benefits, concerning for example the investments made in services and plants, which become assets of the area itself, and in the activities in which Hera involves citizens, institutions, workers, suppliers and members of the third sector, acting as an "enabler" for their own growth. Our Plan is able to rely on both a solid initial basis - with preliminary year-end results 3% higher than expected - and significant growth in 2020, sustained among other things by the transaction with Ascopiave, which will now begin to contribute to our results. At the same time, we expect our growth to continue thanks to further M&As, while maintaining the financial flexibility required to grasp additional opportunities. The Group's development has indeed been achieved by always maintaining, and even improving its financial soundness, now expecting the net debt/Ebitda ratio to reach 2.8 in 2023, instead of the 2.9 set down in the previous Plan. Dividends will also rise, with a rate of growth coming to 0.5 cents per year, ultimately reaching 12.0 cents per share pertaining to 2023. Stefano Venier, Hera CEO Our Business plan's orientations, just like the initiatives carried out by Hera in previous years, reflect our growing attention towards sustainable development, circular economy and decarbonisation. Within the Group, sustainability is built into our corporate strategies themselves: by 2023, 42% of Ebitda will involve "shared value", that is, projects that respond to the goals contained in the Un Agenda. In this area, investments will come to over 950 million euro over the period covered by the Plan, of which 330 million to make our cities increasingly smart, thanks to innovation and technological evolution, or again projects promoting energy efficiency, recovery and reuse of materials, air quality and network resilience, in order to face climate change. What's more, we are looking even farther into the future, with the objective of reducing the impact of our activities up to 2030, in all areas in which we operate: this involves our "footprint" not only as regards carbon, but also water and the use of natural resources. Our goals for 2030 include an increase in the amount of urban waste recycled, reaching 67% and thus overcoming the EU target set at 65%; a further reduction in the Group's energy consumption, which will fall by 10% compared to 2013; and eliminating linear leakage in the water cycle by 7% compared to 2018. These commitments are perfectly in line with the principles of a circular economy and the very nature of our businesses. 20200110_comunicato_Piano_industriale_al_2023_ENG.1578659562.pdf 2020-01-10 13:10:00 Hera Group included in the 2020 Bloomberg Gender-Equality Index

2020-01-03 (drafted pursuant to article 85-bis, paragraph 4-bis, of Consob Regulation 11971 / 14 May 1999) Communication of the overall amount of voting rights Bologna, 3 January 2020 - The following table contains the data concerning the shares outstanding and the number of voting rights representing the share capital at 31 December 2019. Updated situation Previous situation Number of shares constituting the Share capital Number of voting rights Number of shares constituting the Share capital Number of voting rights Total of which: 1,489,538,745 2,251,438,785 1,489,538,745 2,251,436,801 Ordinary shares (regular dividend rights: 01.01.2019) - cod. ISIN IT0001250932 Current coupon: n. 18 727,638,705 727,638,705 727,640,689 727,640,689 Ordinary shares with increased voting rights (regular dividend rights: 01.01.2019) - cod. ISIN IT0005159972 Current coupon: n. 18 761,900,040 1,523,800,080 761,898,056 1,523,796,112 20200103_Communication_overall_amount_of_voting_rights_art_85_bis_RE_eng.1578056395.pdf 2019-07-03 10:59:00 Comunicazione dell'ammontare complessivo dei diritti di voto

2019-12-19 Gruppo Hera e Ascopiave The transaction between the two companies, finalised today, marks the birth, through EstEnergy, of the largest energy operator in North-Eastern Italy, whose BoD was also appointed. Ascopiave acquires new assets in gas distribution, reinforcing its position in the sector and reaching 775,000 users served. The Hera Group now has roughly 3.3 million energy customers overall, meeting the target included in its Business plan well ahead of time. Partnership between Hera and Ascopiave now operational The transaction between the two companies, finalised today, marks the birth, through EstEnergy, of the largest energy operator in North-Eastern Italy, whose BoD was also appointed. Ascopiave acquires new assets in gas distribution, reinforcing its position in the sector and reaching 775,000 users served. The Hera Group now has roughly 3.3 million energy customers overall, meeting the target included in its Business plan well ahead of time. The Hera Group and Ascopiave S.p.a. have finalised the transaction that formalises, as of today, the birth of the largest operator in the energy sector in North-Eastern Italy, with over one million customers, while at the same time redefining gas distribution between the two partners. Today's closing, which follows up on the framework agreement signed on 30 July and the subsequent approvals granted by the appropriate authorities and bodies, involves an exchange of assets having an equal value between the Hera Group and Ascopiave, in energy sales on the one hand, and gas distribution on the other. The economic aspects of the transaction did not change with respect to what had been made public previously, except for adjustments in the closing date included in last July's framework agreement, and settlements defined for governance and management options for Ascopiave's shareholdings in EstEnergy and Hera Comm. This transaction is an important step along the evolution of the Hera Group and Ascopiave's business portfolios, and fully respects the orientations in development approved by their respective Boards of Directors. The Hera Group, indeed, will achieve the goal set out in its Business plan to 2022 in advance, reaching roughly 3.3 million customers in energy sales. Ascopiave, instead, will implement its own strategic repositioning plan, through a sales agreement with a leading figure and a consolidation of its own position in the core business of gas distribution. As regards energy sales, EstEnergy will manage commercial activities in the Veneto, Friuli-Venezia Giulia and Lombardy regions, with over one million customers (including roughly 795,000 gas contracts and roughly 265,000 electricity contracts). More specifically, the new company, whose value before the transaction came to 191.7 million euro, now includes the sales companies of the Ascopiave Group (Ascotrade S.p.a., Ascopiave Energie S.p.a. and Blue Meta S.p.a. as well as the joint ventures Asm Set S.r.l. and Etra Energia S.r.l.) and a shareholding in Sinergie Italiane S.r.l., for an overall value of 474.2 million euro, as well as those of the Hera Group (Hera Comm Nord-Est S.r.l), whose value comes to 159.0 million euro. The Hera Group holds 52% of the share capital of the new EstEnergy, while 48% is held by Ascopiave (which purchased this amount for a price of 395.9 million euro, based on the total equity value of EstEnergy, equivalent to 824.9 million euro). The Board of Directors is made up of 5 members, 3 appointed by Hera and 2 by Ascopiave, in line with the Shareholders Agreement signed today. The members, appointed today, are, for the Hera Group: Stefano Venier, CEO of the Hera Group; Cristian Fabbri, Group Market Manager and CEO of Hera Comm, who will also act as CEO of the new EstEnergy; Isabella Malagoli, Director of Sales and Marketing at Hera Comm. Ascopiave's members are: Giovanni Zoppas, CEO of Thelios, who will also act as Chairman, and Nicola Cecconato, Chairman and CEO of Ascopiave Group. As regards the reorganisation of gas distribution, Ascopiave purchased from the Hera Group, for a price set at 168 million euro, an area of concessions comprising roughly 188,000 users in the Veneto and Friuli-Venezia Giulia regions, which as of 31 December 2019 will come together in the newly created company named AP Reti Gas Nord-Est. Thanks to this transaction, the Ascopiave Group will manage roughly 775,000 users and a network with a total length of over 12,000 Km, thus consolidating its position in the national ranking. Lastly, as indicated in the agreement signed in late July, 3% of the share capital of Hera Comm was purchased by Ascopiave today, for a price of 54 million euro. Furthermore, Chairman and CEO Nicola Cecconato was appointed in the company's Board of Directors. Furthermore, as part of the overall redefinition of energy sales activities, Hera Comm directly acquired 100% of the share capital of Amgas Blu, a company entirely held by Ascopiave, which operates in the province of Foggia and has roughly 50,000 customers, for a price of 42.5 million euro. "We are very satisfied with the positive conclusion of this transaction, one of the sector's largest in recent years and highly significant for our multi-utility as well, as regards the quality of the assets involved and the geographical area in question" states Tomaso Tommasi di Vignano, Executive Chairman of the Hera Group. "This transaction is entirely in line with our strategic goals and allows us to reach one of the main targets contained in our Business plan well in advance. Today, we have consolidated our presence in an area, the Triveneto region, where we have operated for years and where we count on further extending the concrete benefits that our business model has proved able to generate for some time now: increasing quality in services, investments, innovation and environmental and resource protection. Transactions such as this, moreover, fully respect our own history: Hera's growth has been sustained by mergers and acquisitions that have contributed to our development. Lastly, I would like to take this chance to thank the people who have worked with us in gas distribution, showing passion and commitment, and who, now within AP Reti Gas Nord-Est, will continue to operate as they had in the past, taking up new challenges in a Group such as Ascopiave, equally solid and with strong local roots". "This transaction has great strategic significance for us" states the Chairman and CEO of the Ascopiave Group, Nicola Cecconato. "Indeed, it allows us to meet two primary goals: on the one hand, reinforcing our core business of gas distribution, and on the other giving greater value to our sales activities, through the creation of a partnership with a valid figure in this market. We believe that the transaction finalised today, which respects a choice made at the end of a period of deep reflection in which we evaluated various opportunities and alternatives, represents the best solution for our Group, since it reinforces its prospects for industrial development. Thanks to this close commercial partnership with Hera, we are jointly participating in an enterprise that has reached a significant critical mass, able to meet the necessary requirements for this sort of business. In gas distribution, instead, we have reinforced our presence in highly important geographical areas, close to the ones we already serve. This will allow us to create synergies and efficiencies in management, maintaining and, if possible, improving the level of quality, continuity and safety in this service. If necessary, this will lead us to invest significantly in order to preserve and improve the functionality of our networks and plants. This strategic repositioning raises new challenges for Ascopiave, which we will face by giving ever greater attention towards the interests of our shareholders and by respecting our corporate mission, alongside local administrations, serving communities and local areas". The Ascopiave Group mainly operates in two segments of the natural gas sector, distribution and sales to end customers. Thanks to its wide customer base and the amount of gas sold, Ascopiave is currently one of the nation's foremost operators in this sector. The Group holds concessions and direct assignments for managing distribution activities in over 228 Municipalities, offering this service to a customer base that includes 1.5 million inhabitants, through a distribution network that covers a length of 10,000 kilometres. Activities in natural gas sales are carried out through various companies, some of which jointly controlled. Taken as a whole, in 2018 the Group's companies sold over 1 billion cubic metres of gas to end customers. As of 12 December 2006, the company Ascopiave has been listed on the Star segment of Borsa Italiana. The Hera Group is one of Italy's leading multi-utilities and operates in the waste management (waste collection and treatment), energy (electricity and gas distribution and sales) and water (aqueduct, sewerage and purification) sectors. Almost 9,000 employees work within the Group, committed every day to meeting the various needs of over 4.4 million citizens. The over 350 municipalities served are mainly located in the Emilia-Romagna, Marche, Toscana, Abruzzo, Veneto and Friuli-Venezia Giulia regions. Listed in 2003, as of 18 March 2019 the Group was included in the FTSE MIB. Gruppo Hera e Ascopiave 20191219_closing_Hera_Group_Ascopiave_ENG.1576776135.pdf 2019-12-19 18:09:00 2020 Integrated Governance Index: Hera once again ranked at the top of sustainable finance

2019-12-03 (drafted pursuant to article 85-bis, paragraph 4-bis, of Consob Regulation 11971 / 14 May 1999) Communication of the overall amount of voting rights Bologna, 3 December 2019 - The following table contains the data concerning the shares outstanding and the number of voting rights representing the share capital at 30 November 2019. Updated situation Previous situation Number of shares constituting the Share capital Number of voting rights Number of shares constituting the Share capital Number of voting rights Total of which: 1,489,538,745 2,251,436,801 1,489,538,745 2,251,468,601 Ordinary shares (regular dividend rights: 01.01.2019) - cod. ISIN IT0001250932 Current coupon: n. 18 727,640,689 727,640,689 727,608,889 727,608,889 Ordinary shares with increased voting rights (regular dividend rights: 01.01.2019) - cod. ISIN IT0005159972 Current coupon: n. 18 761,898,056 1,523,796,112 761,929,856 1,523,859,712 20191203_Communication_overall_amount_of_voting_rights_art_85_bis_RE_eng.1575385385.pdf 2019-07-03 15:35:00 Communication of the overall amount of voting rights

2019-11-13 NexMeter_450x.1573641982.jpg The 2019 European Utility Week includes a preview of the new smart gas meter 4.0, provided with advanced technology and functions, and features that are unique on the international scene. Thanks to investments coming to 45 million euro, the first 300,000 units will be installed in some areas served by Hera. NexMeter NexMeter, the new gas meter 4.0 conceived by the Hera Group, looks towards the future, today: provided with avant-garde technology and functions, above all concerning safety, and "environment friendly", its features cannot be found elsewhere on the international scene. This "smart" device was born out of the experience gained by Hera, one of Italy's largest multi-utilities. The fruit of the know-how accumulated over time in gas distribution service management, it also owes much to the continuous investments made in innovation and research and development. The Hera Group has already allocated roughly 45 million euro in investments to install the first 300,000 meters over the upcoming three years. The companies chosen as partners are among the most qualified, nationally and internationally: the Japanese multinational Panasonic, a global leader in electronic product and component manufacturing, and Pietro Fiorentini, one of Italy's foremost enterprises involved in providing products and services for the entire natural gas sector. Precisely because of its advanced functions and the international team involved in its development, a preview of NexMeter was given yesterday afternoon in Paris, in the prestigious setting of the 2019 European Utility Week, the sector's most important showcase. A "mini-computer", leading the way in innovation and safety NexMeter is much more than a gas meter: it's a "mini-computer" whose features outperform the other devices now seen on the market. Provided with advanced technology - now, for the first time, contained within the device itself and based on algorithms, sensors and ultrasounds - and characteristics giving it an unrivalled precision, it offers advanced safety functions, supporting a fundamental aspect of gas services. The specific monitoring and warning tools with which it is provided allow it to prevent accidents in a range of situations, offering greater protection to buildings and citizens, along the lines of electric circuit breakers. For example, the system's regular functioning is constantly checked by verifying supply and network pressure, immediately reporting any excess or drop. The meter is able to signal any kind of gas leak: not only large, short-term losses due to breakage or voluntary damage, but also the smaller, continuous leaks that customers might not notice right away. It can thus interrupt supply in case of irregularities, making the system safe. Furthermore, it is able to detect tremors caused by earthquakes in real time, and in this case as well it interrupts gas supply and thus acts towards providing better safety. Real time communication between metres, control systems and users In addition to periodically sending ordinary information as to actual consumption, like other smart gas meters, in case of emergency NexMeter is activated and contacts the Group's central remote control facility in Forlì. This avant-garde technological centre is one of Europe's largest, and monitors Hera's networks and plants across the entire area served in real time. In turn, the remote control facility, if it has a certain way to contact the user, attempts to send them an warning signal. In any event, the device's status can be checked by customers themselves on the meter's display, thanks to a simple and immediately comprehensible interface. NexMeter is environment friendly Not only is NexMeter "smart" and precise, it's also a green assistant who will help cut spending for consumption. Thanks to its ability to detect even slight gas leaks and signal them to users, NexMeter contributes to reducing the cost of bills. Furthermore, it benefits the environment by promoting a smart use of energy and favouring a rational use of resources. By eliminating leaks, indeed, it also reduces methane dispersion, which is highly pollutant, while the entire process of optimising gas network management has a positive effect on the performance and emissions of many devices, first and foremost hot water heaters. NexMeter - in addition to being entirely compatible with all kinds of networks and plants - is already suitable for future "clean gas" systems, such as biomethane. One can only add that it is the first meter built out of materials that contain recycled plastic, reflecting Hera's long-standing attention towards the environment and a circular economy. Moving in this same direction, Hera was the first company in Italy to introduce recycled plastic materials into the tubes of its own networks. An opportunity for local areas: the first installations and the next steps Following up on the opportunities offered by the large-scale gas meter substitution foreseen by Italian regulations (resolution ARG/gas 155/08), Hera's new 4.0 meter meets possible developments in legislation in advance, introducing features that go beyond current requirements and putting innovative technology at the service of the needs shared by household and non-household users. As early as the next few months, installation of the device will be launched in some areas served by the Group: overall, during the next three years, 300,000 devices will be installed in localities served by Hera, mainly in Friuli-Venezia Giulia and Emilia-Romagna, in the provinces of Modena and Ferrara, areas classified as being at risk of earthquakes or in which similar events have recently occurred. A valuable project NexMeter's features respect the interventions outlined in the 2019-2021 strategic framework drafted by Italy's Energy, Network and Environment Authority (ARERA). These objectives are challenging in terms of innovation, safety and attention towards the environment, with respect to which the Italian authority orients sector companies. The presentation of NexMeter confirms that the Hera Group is fully able and ready to act on these indications, making the most of its employees' professional skills and potential for innovation. "With NexMeter", states Stefano Venier, CEO of the Hera Group, "we are bringing a new wave of innovation into a business, gas distribution, that is still quite traditional. To develop it in the best way possible, we have brought together our considerable experience in the gas distribution sector together with the skills of the most qualified national and international partners. In a broader sense, innovation is one of our strategic priorities, sustained by a significant economic investment, coming to over 380 million euro in the five years covered by our latest Business plan. It is with initiatives such as this, indeed, that the Hera Group carries out its own mission, already today, with technology coming from the future, meeting the needs of the citizens who live in the areas we serve. All of this is accompanied by constant attention towards the environment: our meter in fact promotes a smart use of energy and an efficient use of resources, which are two of the drivers according to which the Hera Group has established its commitment towards sustainability". "This project could not be accomplished without Gruppo Hera's solid desire and intention to develop and deploy new gas smart meter which equipped with safety functions. It is honourable for Panasonic to contribute as a key devices supplier of which technology had been proven more than 35 years with 120 million sets delivered in Japan and will enormously enhance the safety level in the gas distribution network in Italy" said Anton Terasaki, Managing Director of Smart Energy System Business Division Appliances Company, Panasonic Corporation. "We are very enthusiastic about our work on this innovative project for smart meters with advanced features in safety and reliability. It will provide Hera's customers and the entire supply chain with a significant amount of data, fundamental for a safe, efficient and enlightened use of gas", states Cristiano Nardi, Executive Chairman of the Pietro Fiorentini Group. "Our collaboration with Panasonic fully respects our policy of open innovation that leads us to collaborate with many international partners, universities and research centres". The Hera Group is among Italy's largest multi-utilities, working mainly in the environment (waste collection and treatment), energy (electricity and gas distribution and sales, energy services) and water (aqueduct, sewerage and purification) sectors. Other services offered include public lighting and telecommunications. The Group employs almost 9,000 employees who meet the needs of 4.4 million citizens in over 350 municipalities mainly located in Emilia-Romagna, Veneto, Friuli-Venezia Giulia, Marche, Tuscany and Abruzzo. A listed company since 2003, as of 18 March 2019 Hera has been included in the FTSE MIB. Panasonicis worldwide leader in the development and manufacture of electronic products for a wide range of consumer, business, and industrial needs. Based in Osaka, Japan, the company recorded consolidated net sales of 8.0 Trillion Yen for the year ended in March 31 2019. The Company's shares are listed on the Tokyo, Osaka, Nagoya, and New York (NYSE: PC) stock exchanges. Pietro Fiorentini is an international group comprising twenty-six branches and subsidiaries. Based in Arcugnano (Vicenza), it provides a wide range of products, systems and services to the Oil & Gas sector, with eleven manufacturing facilities worldwide. It was recently included by the Centro Studi ItalyPost in a list of the one hundred Italian companies having an annual turnover coming to between 120 and 500 million euro who have performed the best operationally and financially from 2011 to the present. Pietro Fiorentini's mission is strongly oriented towards customer centricity and environmental protection, applying the most modern technologies to meet the needs of the market and to promote the development of clean and safe energy, thanks to new solutions including renewable gas and hydrogen. NexMeter 20191113_comunicato_NexMeter_eng_DEF.1573641879.pdf 2019-11-11 sinistra 10:50:24 NexMeter

2019-11-13 Results as at 30 September 2019 The Group closed the first nine months of the year with particularly positive results, higher than expectations, and with the third quarter showing further improvement over the previous quarters. All main operating and financial figures showed growth, as did investments, with a special focus on innovation as a lever for development. /documents/1514726/4210689/Hera_Group_Consolidate_quarterly_report_30_09_2019.1573637094.pdf/defd4ead-13a2-5287-e021-e98632136f4f?t=1597849421357 /documents/1514726/4210689/Dati_finanziari_ed_operativi_di_sintesi_9M2019_eng.1573554938.xls/5d5959ed-5c5e-5629-d45e-f55bb509685e?t=1597849419918 /documents/1514726/4210689/GruppoHera_Analyst_presentation_9M_2019.1573652645.pdf/160d8073-d000-e92e-8721-f959debafed8?t=1597849420673 http://investornews.gruppohera.it/en/?n=174 /documents/1514726/4880888/GruppoHera+9M+2019+eng.1573723184.mp3/847e4cdb-1900-e9b1-5be8-7359534b94b5?t=1610038221010 Financial report as at 30 September 2019 Financial data: Results as at 30 September 2019 Analyst presentation: Results as at 30 September 2019 Newsletter: Results as at 30 September 2019 Audioconference: Results as at 30 September 2019 Financial highlights Revenues at 5,063.2 million euro (increased by 16.4%) Ebitda at 785.8 million (increased by 5.0%) Net result at 242.0 million (increased by 12.1%) Net debt at 2,740.7 million, with Net debt/Ebitda reduced to 2.57x Operating highlights Good contribution to growth coming from business areas, especially the gas, water and waste management sectors Positive results thanks to both internal growth and M&A Sharp increase in energy customers, now almost 2.65 million, more than triple the historical average Today, the Hera Group’s Board of Directors, chaired by Tomaso Tommasi di Vignano, unanimously approved the consolidated financial results at 30 September 2019, which shows particularly positive results and further improved the growth already seen in the previous quarters. The trends seen over the first nine months of the year, which were higher than expected, reflected the Group’s effective implementation of its Business plan to 2022, having already reached 42% of the expected 200 million euro growth in Ebitda, ahead of the projected timeline. Some strategic projects, including M&As to be concluded in the near future, will be included in the upcoming Business plan to 2023. An excellent contribution came from internal growth, both in free market activities – which saw an increase in energy customers, now almost 2.65 million, and further expansion in the area of waste treatment – and regulated ones. The M&A operations carried out during the first nine months include the integrations of ATR in gas distribution and CMV Energia e Impianti’s energy sales operations, both of which are companies operating in the Ferrara area, the acquisition of Cosea Ambiente, with the Cosea Consorzio landfill in the Tuscan-Emilian Apennine area, and Pistoia Ambiente in Tuscany. Furthermore, a definitive formalisation of the Ascopiave deal is underway, according to the timeline previously set out. In general, the results for the first nine months confirm the Group’s winning strategy, based on a business model that balances regulated and free market activities, and brings internal growth together with an eye towards M&A opportunities. Sustainability and innovation have proven to be increasingly important competitive levers underpinned higher amount of investments, focused on “circular economy model” and “resource regeneration”, with the goal of creating value for the local area and all stakeholders. Revenues increase to 5,063.2 million euro In the first nine months of 2019, revenues came to 5,063.2 million euro, increased by 16.4% over the 4,348.4 million recorded at 30 September 2018, thanks to the contribution coming from all business areas. Trading operations and higher revenues and volumes sold in gas and electricity were particularly significant. Ebitda rises to 785.8 million Consolidated Ebitda at 30 September 2019 increased from 748.6 million euro to 785.8 (increased by 5.0%). This growth mainly came from the good performance seen in the Group’s various business areas, especially the gas and water businesses. Positive results were also recorded in the waste treatment business. Operating result and pre-tax profit up thanks to factors including financial operations The operating result grew to 405.5 million euro, compared to the 376.5 seen at 30 September 2018 (increased by 7.7%), and pre-tax profit rose to 338.4 million compared to the 311.0 recorded one year earlier (increased by 8.8%). Financial income and expenses at the end of the first nine months of 2019 settled at 67.1 million euro, substantially in line with the figure seen at 30 September 2018. Net result increases to 242.0 million (increased by 12.1%) The net result at 30 September 2019 rose to 242.0 million euro (increased by 12.1%), compared to the 215.9 million seen at the same date one year earlier, while the Net profit post minorities increased to 230.8 million, compared to the 208.7 million recorded at 30 September 2018 (increased by 10.6%). These results benefitted from factors including an average tax rate that came to 28.5%, an improvement over the 30.1% seen in the same period of the previous year, thanks in particular to the Group’s commitment to investing in technological and digital transformation, along the lines of Utility 4.0. Over 343 million euro in investments and reduction in the Net debt/Ebitda ratio At 30 September 2019, the Group’s operating investments, including capital grants, amounted to 343.1 million euro, increased by 15.7% over the same date in 2018 and in line with the indications set out in the Business plan to 2022. Operating investments mainly involved interventions on plants, networks and infrastructures, furthering their development and resilience in order to better face the challenges coming from climate change. Investments also went to regulatory upgrading above all in the purification and sewerage area, in addition to gas distribution, with a large-scale gas smart meter installation. These interventions also include Hera’s increasing investments in the field of innovation: yesterday, at Paris’ European Utility Week, the most important conference in the sector, NexMeter was launched, the innovative smart gas meter 4.0 created by the Hera Group alongside leading national and international partners and provided with advanced safety functions and technology. Thanks to investments coming to 45 million euro, the first 300,000 smart meters will be installed over the next three years. At 30 September 2019, net debt came to 2,740.7 million euro, remaining basically stable, thanks to a cash flow that entirely financed the investments made, including those aimed at development, and the annual dividend payment. The change compared to the 2,585.6 million recorded at 31 December 2018 was mainly due to figurative debts booked in application of accounting standard IFRS16 and, to a lesser degree, the M&A operations carried out recently, which will contribute to growth in results in the fourth quarter as well. Financial leverage reduced, with the net debt/Ebitda ratio coming to 2.57x, compared to the 2.62x seen at 30 September 2018. Gas Ebitda for the gas business – which includes services in natural gas distribution and sales, district heating and heat management – came to 239.8 million euro at 30 September 2019, increased by 7.9% over the same period in the previous year, in terms of both revenues and volumes sold. These results were obtained thanks to a larger amount of trading activities and the market expansion in the default and last resort supply services. A very significant rise was seen in gas customer base – almost 1.5 million overall, at the end of the third quarter of 2019 – with growth coming to 52,400 (increased by 3.7%) compared to the same period in the previous year, mainly due to the consolidation of the companies Sangroservizi and CMV Servizi, new customers in the default and last resort markets and marketing initiatives. The gas area accounted for 30.5% of Group Ebitda. Water The water business – which includes aqueduct, purification and sewerage services – showed a 7.4% growth in Ebitda, which reached 200.0 million euro, compared to the 186.2 million seen in September 2018. This growth was caused above all by higher revenues for new connections and supply; the latter reflected the results of the tariffs introduced by the Authority for the period from 2016 to 2019 and bonuses for contract quality. The integrated water cycle business accounted for 25.4% of Group Ebitda. Waste management In the waste management business – which includes services in waste collection, treatment, recovery and disposal – the Hera Group further consolidated its leadership, with a set of avant-garde plants that offers solutions across the board and supporting the evolution of activities towards “circular economy model”. Important results were also reached in sorted waste, which went from 61.4% in the first nine months of 2018 to 63.4% in the same period of the current year. At 30 September 2019, Ebitda rose to 192.0 million euro, showing a 2.0% increase over the 188.2 million seen at 30 September 2018, mostly achieved in the third quarter. This positive trend – which fully offset lower revenues due to a drop in volumes treated – was sustained among other things by trends in prices for special and industrial waste treatment, the contribution coming from Aliplast and new structures such as the waste treatment plant inaugurated in Cordenons (PN) and the innovative biomethane production plant in Sant’Agata Bolognese (BO), both having progressively become fully operational. These results furthermore benefitted from the acquisitions of Cosea Ambiente, including the landfill in Gaggio Montano (BO), and Pistoia Ambiente. As regards the higher efficiency reached, moreover, also note the merger of Waste Recycling into Herambiente Servizi Industriali, which thus became Italy’s largest company involved in industrial waste management, and Aliplast, which continued to show growth through market development and the extraction of synergies through integrations. The waste management business accounted for 24.4% of Group Ebitda. Electricity Ebitda for the electricity business – which includes services in electricity generation, distribution and sales – went from 133.2 million in the first nine months of 2018 to 129.1 million at 30 September 2019. This result is even more appreciable considering the effects of the new tender for 2019-2020 safeguarded services, in which a high degree of competition led to lower prices than the previous two-year period. This factor was almost entirely offset by higher volumes sold and higher revenues, as well as the positive contribution coming from activities in electricity trading and generation. Significant growth was also seen in the number of customers, which came to 132,400, up 12.7% over the same period in 2018, thanks above all to marketing initiatives in the free market area. At 30 September 2019, customers amounted to almost 1.2 million. The electricity business accounted for 16.4% of Group Ebitda. The manager responsible for drafting the company’s accounting statements, Luca Moroni, declares, pursuant to article 154-bis paragraph 2 of the TUF, that the information contained in the present press release corresponds to the documentation available and to the account books and entries. The third-quarter management report and related materials are available to the public at Company Headquarters and on the website www.gruppohera.it. Unaudited extracts from the Intermediate Management Report at 30 September 2019 are attached. Profit & Loss (m€) 30/09/19 Inc.% 30/09/18 Inc.% Ch. Ch. % Sales 5,063.2 4,348.4 +714.8 +16.4% Other operating revenues 366.7 7.2% 321.1 7.4% +45.6 +14.2% Raw material (2,504.9) (49.5%) (1,966.6) (45.2%) +538.3 +27.4% Services costs (1,698.4) (33.5%) (1,529.2) (35.2%) +169.2 +11.1% Other operating expenses (45.6) (0.9%) (42.9) (1.0%) +2.7 +6.3% Personnel costs (418.7) (8.3%) (410.1) (9.4%) +8.6 +2.1% Capitalisations 23.5 0.5% 28.0 0.6% (4.5) (16.1%) Ebitda 785.8 15.5% 748.6 17.2% +37.2 +5.0% Depreciation and provisions (380.3) (7.5%) (372.2) (8.6%) +8.1 +2.2% Ebit 405.5 8.0% 376.5 8.7% +29.0 +7.7% Financial inc./(exp.) (67.1) (1.3%) (65.5) (1.5%) +1.6 +2.4% Pre tax profit 338.4 6.7% 311.0 7.2% +27.4 +8.8% Tax (96.4) (1.9%) (95.1) (2.2%) +1.3 +1.4% Net profit 242.0 4.8% 215.9 5.0% +26.1 +12.1% Special items - 0.0% 4.8 0.1% (4.8) (100.0%) Net profit 242.0 4.8% 220.7 5.1% +21.3 +9.7% Attributable to: Shareholders of the Parent Company 230.8 4.6% 208.7 4.8% +22.1 +10.6% Minority shareholders 11.2 0.2% 11.9 0.3% (0.7) (6.0%) Balance Sheet (m€) 30/09/19 Inc.% 31/12/18 Inc.% Ch. Ch. % Net fixed assets 6,151.2 108.9% 5,905.1 108.7% +246.1 +4.2% Working capital 109.6 1.9% 115.4 2.1% (5.8) (5.0%) (Provisions) (610.0) (10.8%) (588.2) (10.8%) (21.8) +3.7% Net invested capital 5,650.8 100.0% 5,432.3 100.0% +218.5 +4.0% Net equity 2,910.1 51.5% 2,846.7 52.4% +63.4 +2.2% Long term net financial debt 2,846.5 50.4% 2,558.8 47.1% +287.7 +11.2% Short term net financial debt (105.8) (1.9%) 26.8 0.5% (132.6) (494.8%) Net financial debts 2,740.7 48.5% 2,585.6 47.6% +155.1 +6.0% Net invested capital 5,650.8 100.0% 5,432.3 100.0% +218.5 +4.0% Results as at 30 September 2019 Results as at 30 September 2019 2019-11-11 13:36:24 Il Gruppo Hera approva i risultati al 31/03/2019

2019-10-03 (drafted pursuant to article 85-bis, paragraph 4-bis, of Consob Regulation 11971 / 14 May 1999) Communication of the overall amount of voting rights Bologna, 3 October 2019 - The following table contains the data concerning the shares outstanding and the number of voting rights representing the share capital at 30 September 2019. Updated situation Previous situation Number of shares constituting the Share capital Number of voting rights Number of shares constituting the Share capital Number of voting rights Total of which: 1,489,538,745 2,251,468,601 1,489,538,745 2,265,606,939 Ordinary shares (regular dividend rights: 01.01.2019) - cod. ISIN IT0001250932 Current coupon: n. 18 727,608,889 727,608,889 713,470,551 713,470,551 Ordinary shares with increased voting rights (regular dividend rights: 01.01.2019) - cod. ISIN IT0005159972 Current coupon: n. 18 761,929,856 1,523,859,712 776,068,194 1,552,136,388 20191003_COMMUNICATION_OF_THE_OVERALL_AMOUNT_OF_VOTING_RIGHTS_art_85_bis_RE_eng.1570098629.pdf 2019-07-03 11:18:00 Hera acquires 2.5% of Ascopiave's share capital from Amber

2019-09-26 Announcement of sale of maximum of 14,426,407 ordinary shares of Hera S.p.A. Press release issued upon request and on behalf of n. 8 Public Shareholders of Hera S.p.A. ANNOUNCEMENT OF SALE OF MAXIMUM OF 14,426,407 ORDINARY SHARES OF HERA S.P.A. 26 September 2019 - The Municipalities of Bologna, Castelfranco Emilia, Maranello, Montefiorino, Palagano, Pavullo nel Frignano and Ravenna Holding S.p.A., Rimini Holding S.p.A., public shareholders ("Public Shareholders") of Hera S.p.A. ("Hera" or the "Company") subscribers of a shareholder agreement signed by n. 111 Hera shareholders on 26 June 2018, announce the sale of maximum n. 14,426,407 Hera ordinary shares equal to approximately 1% of the share capital of the Company by means of an accelerated bookbuilding procedure addressed to qualified institutional investors in Italy and institutional investors abroad (the "Transaction"). Mediobanca - Banca di Credito Finanziario S.p.A. will act as Sole Bookrunner of the Transaction. Public Shareholders reserve the right to terminate the sale at any time. Public Shareholders will announce the results of the sale only once completed. The Public Shareholders agreed with the Sole Bookrunner not to sell further shares of Hera for a period of 90 days, without the prior written consent of the Sole Bookrunner. PROMETEIA ADVISOR SIM S.p.A. is acting as financial advisor to the Public Shareholders. COMUNICATO_STAMPA_LANCIO_ABB_eng.1569517915.pdf 2019-09-26 18:39:34 Hera acquires 2.5% of Ascopiave's share capital from Amber

2019-09-26 Conclusion sale of ordinary shares of Hera S.p.A. Press release issued upon request and on behalf of n. 8 Public Shareholders of Hera S.p.A. CONCLUSION SALE OF ORDINARY SHARES OF HERA S.P.A. 26 September 2019 - The Municipalities of Bologna, Castelfranco Emilia, Maranello, Montefiorino, Palagano, Pavullo nel Frignano and Ravenna Holding S.p.A., Rimini Holding S.p.A., public shareholders ("Public Shareholders") of Hera S.p.A. ("Hera" or the "Company") subscribers of a shareholder agreement signed by n. 111 Hera shareholders on 26 June 2018, announce the sale of n. 14,426,407 Hera ordinary shares equal to approximately 1% of the share capital of the Company by means of an accelerated bookbuilding procedure addressed to qualified institutional investors in Italy and institutional investors abroad (the "Transaction"). Mediobanca - Banca di Credito Finanziario S.p.A. acted as Sole Bookrunner of the Transaction. The aggregate proceeds from the sale of Public Shareholders' shares is equal to EUR 53,521,970. The settlement of the transaction is 1st October 2019. The Public Shareholders agreed with the Sole Bookrunner not to sell further shares of Hera for a period of 90 days, without the prior written consent of the Sole Bookrunner. PROMETEIA ADVISOR SIM SIM S.p.A. acted as financial advisor to the Public Shareholders. COMUNICATO_STAMPA_CHIUSURA_ABB_eng.1569526762.pdf 2019-09-26 21:09:00 2020 Integrated Governance Index: Hera once again ranked at the top of sustainable finance

2019-09-16 logo_diversity_inclusion_2019_350x.1568272576.png This index, conceived to orient investors interested in companies committed to promoting diversity, inclusion and people development, carries out an annual evaluation of over 7,000 listed companies worldwide. In 2019 as well, the Hera Group reached outstanding results, further improving its raking compared to 2018, confirming itself as the world's leading multi-utility. Diversity and Inclusion Index The "Diversity & Inclusion Index", conceived and carried out by the international financial information giant Refinitiv(the new name for Thomson Reuters' Financial and Risk division), analyses the performance of companies based on a range of ESG (environmental, social and governance) factors, mainly focusing on four areas: diversity, inclusion, people development and news controversy. 150 researchers participate in one of the world's largest and most accurate projects in data collection and analysis concerning companies committed towards these issues, which find significant room in the Hera Group. The multi-utility, indeed, continues to invest in developing internal and personalised career paths, an orientation that has allowed it to reach a percentage of women having roles of responsibility that in 2018 came to 32.3%, increasing over the previous year. The amount of female personnel, which grew overall, is once again higher than the national sector average (24.7%, as compared to 15.9%). Alongside this figure, one must also consider that workers with disabilities account for 4.5% of the company's employees, significantly moving in the direction of inclusion for people with special needs. In terms of work-life balance as well, notably, in 2018 all 71 requests for part-time jobs were accepted. An important contribution also came from training. In 2018, 99.4% of Group employees were involved in training activities, with a per capita average of roughly 30 hours, yet another figure that is higher than the sector average. Among the various initiatives, mention must go to further promotion of smart working and leadership courses, that encourage human resource development based on each worker's characteristics (sex, age, training, ability, aptitude and skills). Nor can one forget the introduction of innovative training activities that use gamification methods, such as the recent Diversity@work, specifically conceived to raise awareness among the company's entire workforce as to a diverse and inclusive environment. Other positive effects unquestionably come from Hera's corporate welfare plan, Hextra, which supports employees and their families in many ways (the overall value of services claimed in 2018 came to 4.2 million euro). Lastly, numerous significant projects give concrete reality to managing plurality, such as scholarships, agreements with summer schools, work-life balance initiatives and arrangements for paid family leave, not only for mothers and fathers but also those who must take care of relatives or the elderly. Not by chance, the results of surveys on the company climate continue to be encouraging and are further confirmed by the lack of news controversies involving diversity and inclusion. The Hera Group's commitment to policies promoting inclusion and diversity, in any case, has a long history. It first took concrete shape in 2009, when the Charter for equal opportunity and equality on the workplace was signed. The introduction in 2011 of a Diversity Manager, whose task involves giving even greater emphasis to developing policies aimed at inclusion and the valorisation of diversity, was also fundamental. With these initiatives, Hera actively contributes to the fifth of the United Nation's objectives for sustainable development (SDG), specifically dedicated to gender equality. "The confirmation of our presence among the world's top 25 companies in the 'Diversity & Inclusion Index' reflects the many policies we have promoted over the years", comments Tomaso Tommasi di Vignano, Executive Chairman of Hera Group. "Our workersare one of the company's key resources and this is why we continually invest in projects aimed at personal and professional wellbeing and development, paying close attention to innovation and inclusion. For the Hera Group, diversity is a value, an integral part of its corporate strategy, and this recognition encourages us to reinforce our commitment in this area to an even greater degree, with projects aimed at supporting the inclusion, integration and growth of our employees." Diversity and Inclusion Index 20190916_Hera_nel_Diversity_Inclusion_Index_ENG.1568275442.pdf 2019-07-03 sinistra 12:35:00 Diversity and Inclusion Index

2019-08-01 (drafted pursuant to article 85-bis, paragraph 4-bis, of Consob Regulation 11971 / 14 May 1999) Communication of the overall amount of voting rights Bologna, 1 August 2019 - The following table contains the data concerning the shares outstanding and the number of voting rights representing the share capital at 31 July 2019. Updated situation Previous situation Number of shares constituting the Share capital Number of voting rights Number of shares constituting the Share capital Number of voting rights Total of which: 1,489,538,745 2,265,606,939 1,489,538,745 2,266,332,400 Ordinary shares (regular dividend rights: 01.01.2019) - cod. ISIN IT0001250932 Current coupon: n. 18 713,470,551 713,470,551 712,745,090 712,745,090 Ordinary shares with increased voting rights (regular dividend rights: 01.01.2019) - cod. ISIN IT0005159972 Current coupon: n. 18 776,068,194 1,552,136,388 776,793,655 1,553,587,310 20190801_COMMUNICATION_OF_THE_OVERALL_AMOUNT_OF_VOTING_RIGHTS_art_85_bis_RE_eng.1564661783.pdf 2019-07-03 13:04:00 Comunicazione dell'ammontare complessivo dei diritti di voto

2019-07-30 The Hera Group extends the scope of its activities in Tuscany and consolidates its leadership in environmental services for businesses by acquiring the Serravalle Pistoiese landfill and the associated liquid waste treatment plant. 100% of Pistoia Ambiente goes to Herambiente The Hera Group extends the scope of its activities in Tuscany and consolidates its leadership in environmental services for businesses by acquiring the Serravalle Pistoiese landfill and the associated liquid waste treatment plant. Herambiente, a Hera Group company and Italian leader in waste treatment, has acquired Pistoia Ambiente, which manages the Serravalle Pistoiese landfill and the associated liquid waste treatment plant. This transaction, which follows up on others brought to a conclusion in previous years (from Waste Recycling and Teseco in Tuscany, to Geo Nova and Aliplast in Treviso), is part of Herambiente's path of growth in the sector of industrial waste treatment and environmental services for businesses. More specifically, Herambiente has further consolidated its own set of plants dedicated to companies, which is unique nationwide, having over 15 poly-functional sites active in treating industrial waste. The Serravalle landfill and the liquid treatment plant will mainly treat waste coming from industrial contexts, guaranteeing new opportunities for marketing and technical synergies with other the plants and services managed by the Group, furthermore allowing Herambiente to become the reference operator in the waste sector in Tuscany as well. The strategic priority pursued by Herambiente, which can rely on the roughly ninety plants it owns, all certified and at the forefront in bringing together efficiency, competitiveness in costs and sustainability, is to provide companies with waste treatment solutions that follow the principles of a circular economy. The technology currently used in rounding off the circle of waste treatment still requires final waste disposal sites such as landfills, able to safely deal with non-recoverable waste coming from treatment plants. The acquisition of Pistoia Ambiente is therefore in line with this strategic orientation and will guarantee positive results in this area. "With this acquisition, we are continuing to pursue an important strategic development in the industrial waste sector", comments Tomaso Tommasi di Vignano, Chairman of the Hera Group's Board of Directors. "We have completed the waste management chain, which begins with recovery of waste from businesses and comes to a close with the actual disposal of the portion that cannot be recovered. We thus guarantee service continuity and competitiveness to companies that would otherwise be forced to find final solutions abroad or in other regions of Italy, with a significant increase in logistical costs for the industrial sector." 20190730_comunicato_Pistoia_Ambiente_eng.1564502043.pdf 2019-07-30 14:08:00 2020 Integrated Governance Index: Hera once again ranked at the top of sustainable finance

2019-07-30 GH_ASCOPIAVE_870.1565010551.jpg Energy partnership between Hera and Ascopiave in the North-East gets the green light Today, the Boards of Directors of Hera S.p.A. and Ascopiave S.p.A., the latter based on the favourable opinion of its committee of independent administrators, following the binding agreement signed this last June 17th and in full compliance with the timescales indicated therein, resolved to sign the framework agreement that will launch this commercial partnership through the joint venture EstEnergy aimed at developing an energy sector leader in the North-East with over one million customers, while at the same time restructuring the two partners' respective gas distribution activities. As already announced on June 17th, on the occasion of the signing of the binding term sheet, the operation involves exchanging assets of equal value between Hera and Ascopiave, considered strategic for the development of the two companies in the fields of both energy sales and gas distribution, in keeping with the strategic objectives of the two groups. On the commercial energy front, a single operator will be created to handle the respective commercial activities in the regions of Veneto, Friuli-Venezia Giulia and Lombardy, through EstEnergy S.p.a., already jointly controlled by Ascopiave S.p.a. and Hera Comm S.r.l., which will thus hold approximately 795,000 gas contracts and approximately 265,000 electrical contracts, bringing it over the threshold of one million contracts. EstEnergy, when fully operational, will have a consolidated EBITDA of approximately € 69 million - on a 2018 basis and excluding the participation of companies held with minority interests. 52% of EstEnergy's share capital will be held by the Hera Group and 48% by Ascopiave. In addition, on the closing date Ascopiave will acquire a 3% stake in the capital of Hera Comm, acquiring the right to appoint a member of the Board of Directors; while Hera Comm will directly acquire 100% of the capital of Amgas Blu, a company operating in the province of Foggia. The reorganisation of gas distribution activities, on the other hand, will involve Ascopiave purchasing from the Hera Group a series of concessions covering 188,000 users in Veneto and Friuli-Venezia Giulia. As a result of this operation, the Ascopiave Group will directly manage approximately 775,000 users and over 12,000 km of network. Following the completion of due diligence activities, the economic elements of the operation have not changed with respect to what was already communicated on June 17th, and neither have the closing adjustment mechanisms or agreements defined for the governance and options for handling Ascopiave's shareholdings in EstEnergy and Hera Comm. The operation will be subject to the usual conditions established for this type of operation and to all the required notifications and approvals by the authorities and agencies in charge, as well as, with regard to the only shareholdings involved, to the non-exercise of the right of pre-emption and approval by the other shareholders in relation to the shareholdings held by Ascopiave S.p.a. in the joint ventures ASM Set S.r.l., Etra Energia S.r.l. and Sinergie Italiane S.r.l. in liquidation. The parties expect to finalise the transaction by December 31st 2019. Through this operation Ascopiave is carrying out a strategic repositioning plan, drawing up an agreement on commercial areas with a key player and consolidating its presence in the core business of gas distribution. The Hera Group, for its part, expects to reach the target of 3 million energy sales customers (3.2 million with reference to 31.12.2018) as established in the 2019-2022 business plan through these agreements with Ascopiave. Ascopiave is being assisted with the financial component of this operation by the Rothschild&Co. team and with the legal component by Bonelli Erede, while Hera is availing itself of Lazard and the Grimaldi firm. The Ascopiave Group operates in the natural gas sector, mainly in the segments of distribution and sale to end users. Thanks to its broad customer base and the quantity of gas sold, Ascopiave is currently one of the main operators in the industry at a national level. The Group owns concessions and direct assignments for the management of distribution activities in over 228 Towns, supplying the service to a market segment of 1.5 million inhabitants, through a distribution network which spreads over 10,000 kilometres. The sale of natural gas is performed through different companies, some under joint control. Overall, in 2018, the companies of the Group sold over 1 billion cubic metres of gas to end users. Ascopiave has been listed under the Star segment of Borsa Italiana since 12th December 2006. Hera Group is one of Italy's largest multi-utility providers working in environment (waste collection and treatment), energy (electricity and gas distribution and sale) and water (aqueduct, sewerage and purification) sectors. The Group employs over 9,000 people and works every day to meet the many and varied needs of over 4.4 million citizens. It serves over 350 local municipalities mainly in the Emilia-Romagna, Marche, Tuscany, Abruzzo, Veneto and Friuli-Venezia Giulia regions. Listed since 2003, on March 18th 2019 Hera shares were included in the FTSE MIB of Borsa Italiana. 20190730_comunicato_GruppoHera_Ascopiave_eng.1564510591.pdf 2019-07-30 23:38:46 Hera acquires 2.5% of Ascopiave's share capital from Amber

2019-07-30 Results for 1H 2019 A highly positive half-year, thanks to the organic growth achieved in all business areas. At the same time, intense activity in external development and an increase in the Group's set of plants will support further expansion as early as the second half-year, leading the targets included in the Business plan to be reached ahead of time. Hera BoD approves 1H 2019 results /group_eng/investor-relations/results-and-presentations/1h2020 /documents/1514726/4210501/Financial+report+as+at+30+June+2020.pdf/a5287bfa-a98e-420f-d73f-23e47c51a443?t=1604674186742 http://investornews.gruppohera.it/en/?n=66 /documents/1514726/4210501/Analyst+presentation+financial+results+as+a+30+June+2020.pdf/7b5a868c-d996-ebe1-629f-fde7749501b9?t=1600699756543 /documents/1514726/4210501/Financial+data+as+at+30+June+2020.xls/50fdccac-c5bc-dcab-9bf5-585bd6e4f4d2?t=1600699670816 /documents/1514726/4210501/Audioconference+financial+results+as+at+30+June+2020.mp3/a1c5bc2b-6a0e-1690-6cf5-66d1ac58cdf7?t=1600699652407 First Half 2019 report in HTML format Financial Report as at 30 June 2019 Newsletter: H1 2019 Analyst presentation: H1 2019 Financial data as at 30 June 2019 Audioconference H1 2019 Financial highlights Revenues at 3,371.6 million euro (+13.6%) Ebitda at 545.9 million euro (+4.3%) Net profit at 173.9 million euro (+7.1%) Net debt at 2,685.2 million euro Operating highlights Excellent contribution from all business areas Growth mainly internal, generally in free market activities Further increase in energy customers, now above 2.6 million Today, the Hera Group’s Board of Directors, chaired by Tomaso Tommasi di Vignano, unanimously approved the consolidated economic results at 30 June 2019, which confirm the multi-utility’s positive trend, with indicators rising in all business areas: gas, water cycle, waste management and electricity. An excellent contribution came from internal growth, both in free market activities – which benefitted from an increase in energy customers, now 2.6 million, and from further expansion in waste treatment – and in regulated activities, above all the water sector. The first six months saw acquisitions including the company ATR in gas distribution and CMV Energia e Impianti’s energy sales activities, both operating in the Ferrara area and both acquired in March, as well as Cosea Ambiente, acquired in May with the concession of the Cosea Consorzio landfill, located in the Tuscan-Emilian Apennine area, assigned as of the second half of 2019. The effects of additional M&A transactions are expected to arrive in the second half of the year, along with constantly increasing waste treatment capacity, thanks to the new waste treatment plants coming from Pistoia Ambiente in Tuscany and Cordenons in Friuli-Venezia Giulia. Furthermore, work on formalising the definitive agreement with Ascopiave is ongoing, as set out in the binding Term Sheet signed on 17 June and respecting its timeline. Overall, the half-year results confirm the Group’s winning strategy, based on a business model that balances regulated and free-market activities, and brings internal growth together with attention towards the opportunities in external growth offered by the market. Revenues increase to almost 3.4 billion euro In the first half of 2019, revenues came to 3,371.6 million euro, up 404.9 million (+13.6%) over the 2,966.7 million seen in the same period of 2018. This result was reached above all thanks to growth in revenues for trading and higher revenues and higher volumes in gas and electricity sales. The remaining growth was due to higher revenues in electricity generation and waste treatment. Ebitda rises to 545.9 million euro Ebitda settled at 545.9 million euro, increasing by 22.3 million (+4.3%) over the 523.6 million recorded at 30 June 2018. This result is particularly remarkable considering the 22 million euro drop in Ebitda coming from last resort markets, and the growth ensued from the good performances in all Group activities, in particular the water cycle and gas. Positive results also came from the electricity, waste management and other services areas, including public lighting. Operating result and pre-tax profits show growth Operating profits increased to 288.9 million euro, up 15.3 million (+5.6%) over the 273.6 million seen one year earlier. Financial operations came to 44.9 million euro, owing to lower non-recurring income and lower profits from affiliated companies and joint ventures, as well as the application of international accounting standard IFRS16 on operating leases. Pre-tax profit grew by 9.6 million (+4.1%), going from 234.4 million euro in the first half of 2018 to 244.0 million euro at 30 June 2019. Net result rises to 173.9 million euro (+7.1%) The net profit at 30 June 2019 rose to 173.9 million, with growth coming to 11.5 million (+7.1%) over the 162.4 million recorded at the same date one year earlier, without the non-recurring effects coming from the transfer of Medea to Italgas in April 2018. This result is due to factors including a further improvement in the tax rate, which went from 30.1% to 28.7%, thanks to the Group’s continuous commitment towards investing in assets moving towards technological and digital transformation and utility 4.0, which benefitted from “super and iper” amortisations, alongside additional incentives and tax credits. Profits pertaining to Group shareholders amounted to 166.2 million euro, with an 8.1 million (+5.1%) increase over the 158.1 million recorded in the first half of 2018. Almost 215 million in investments, and financial position stable In the first six months of 2019, the Group’s operating investments, including capital grants, amounted to 214.6 million euro, up 30.8 million (+16.8%) over the 183.8 million seen in June 2018, and mainly went to interventions on plants, networks and infrastructures, in addition to regulatory upgrading above all in gas distribution, with an intensive meter substitution, and the purification and sewerage areas. The Group’s financial solidity is confirmed by the net debt/Ebitda ratio, which in the first half of 2019 settled at 2.55x, improving compared to both the 2.62x seen at 30 June 2018 and the 2.74x recorded at the same date in 2017. Further confirmation comes from the Roe and Roi indicators, which respectively came to 10.2% and 9.5%. Net debt remained stable, thanks to a cash generation that entirely financed investments and the yearly dividend payment. Net debt closed at 2,685.2 million at 30 June 2019, up 100 million compared to the 2,585.6 million recorded at 31 December 2018, exclusively due to the new accounting standard IFRS16 on leasing contracts. Gas Ebitda for the gas area, which includes services in natural gas distribution and sales, district heating and heat management, reached 195.6 million euro in the first half of 2019, improving over the 188.4 million seen at 30 June 2018 (+3.8%). This growth is essentially due to higher volumes sold, due to increases in the scope of operations, and better results in default and last resort supply services. Customers, now totalling almost 1.5 million, rose by 4% over the first half of 2018, for reasons including the higher number of default and last resort supply tenders awarded, as well as the effectiveness of marketing programs. The gas area accounted for 35.8% of Group Ebitda. Water cycle In the first half of 2019, the integrated water cycle area, which includes aqueduct, purification and sewerage services, recorded Ebitda amounting to 122.8 million euro, up 8.8% over the 112.8 million euro seen one year earlier, mainly owing to higher revenues from supply and new connections, as well as operating efficiencies. As was the case one year earlier, these results benefitted from the bonuses awarded by the Authority for high service standards. The integrated water cycle accounted for 22.5% of Group Ebitda. Waste In the first half of 2019, Ebitdafor the waste management area, which includes waste collection, treatment and disposal services, settled at 126.3 million euro, in line (+0.3%) with the 125.9 million recorded at 30 June 2018. This result benefitted from the launch of the new Sant’Agata Bolognese (BO) biomethane production plant, fully operational as of October 2018; the expansion and full integration within the Group of Aliplast, a national and international leader in plastic recycling and regeneration according to the model of a circular economy; and the positive trend in prices for special waste treatment seen across all European markets. These positive growth factors more than offset the limited availability of some of the Group’s waste-to-energy plants, undergoing both regular and non-recurring maintenance, and the more general lack of landfills affecting Italy and other large European countries. Sorted waste went from 59.8% in the first half of 2018 to 63.4% in the same period of 2019, up 3.6 percentage points. The waste management area accounted for 23.1% of Group Ebitda. Electricity Ebitda for the electricity area, which includes services in electricity generation, distribution and sales, went from 84 million in the first half of 2018 to 86.3 million at 30 June 2019, rising by 2.8%. This result only partially reflects the higher revenues coming from electricity generation, secondary services and volumes sold compared to the previous year, which proved able to more than offset the lower revenues coming from the safeguarded market. A significant increase in customers, which now reach over 1.1 million, up 134.5 thousand (+13.3%) over 30 June 2018, thanks in particular to expansion in the free market and reinforced marketing initiatives, above all in Central Italy. The electricity area accounted for 15.8% of Group Ebitda. Significant transactions in the waste management area: the Cordenons and Serravalle Pistoiese plants The waste management area saw important events recently, whose effects will be felt in the second half of the year. The Hera Group, the nation’s leader in the waste management sector with over 6 million tons of waste treated each year, thanks to investments totalling over 60 million euro has further enlarged its set of plants, which already includes around ninety structures nationwide. In particular, on 29 June a new plant was inaugurated in Cordenons (PN) for non-dangerous special waste treatment, and on 17 July Pistoia Ambiente was acquired, which manages the Serravalle Pistoiese (PT) landfill and the associated liquid waste treatment plant. Both are located in strategic positions that allow the Group to additionally reinforce its activities in industrial waste treatment and environmental services for businesses. These transactions, along with the fully operational status of the new Sant’Agata Bolognese biomethane production plant, built with investments coming to 37 million euro, provide a concrete response to the country’s overall lack of plants, which in many cases leads waste to be exported, causing increased costs especially for businesses. Furthermore, Hera can now rely on increased plant capacity in waste treatment (coming to an additional 2.4 million tons, considering the enlargement of the Ravenna landfill as well), which will allow it to continue pursuing its plans for expansion over the years in markets characterised by increasing demand and higher prices. Statement by Executive ChairmanTomaso Tommasi di Vignano “These half-year results confirm the Hera Group’s trend of uninterrupted growth and fully respect its track record, thanks to organic growth and the numerous projects implemented in internal and external development. The increase in Ebitda, the profits gained and the attentive management of financial operations allowed the Group to fully cover both investments and annual dividend payments to our Shareholders, which rose to 10 cents per share (+5.3%). The further increase in waste treatment plants managed and the joint venture with Ascopiave in the energy sector, currently being formalised, will allow us to implement plans for growth as early as the second half of 2019 on the one hand, and on the other to expand in the Triveneto area, strategically important for a further development of the Group’s activities, already ensuring at present, after only 18 months, 60% of the growth in Ebitda foreseen within 2022 by the Business plan.” Statement by CEO Stefano Venier “The results for the first half of 2019 confirm the solid financial management that has allowed the Group to maintain stability in both debt and the net debt/Ebitda ratio, which now comes to 2.55x, providing evidence of its high financial flexibility. The debt profile has also improved, thanks to the placement, on 26 June, of our second green bond, amounting to 500 million euro, intended for projects in environmental sustainability. This has allowed us to grasp available M&A opportunities and confirm our leadership through further consolidation in the markets, still fragmentary, in which all of our businesses operate. One factor that cannot be overlooked, in continuing to pursue our strategy of growth, is the attention given to sustainability, which for us is a true business lever, and the principles underlying a circular economy, in order to continue creating shared value for all our stakeholders.” The manager responsible for drafting the company’s accounting statements, Luca Moroni, declares, pursuant to article 154-bis paragraph 2 of the TUF, that the information contained in the present press release corresponds to the documentation available and to the account books and entries. The half-year financial report and related materials will be made available to the public pursuant to the terms established by law at Company Headquarters, on the website www.gruppohera.it and on the authorised storage platform 1Info (www.1info.it). Unaudited extracts from the Abbreviated Consolidated Half-Year Financial Statements at 30 June 2019 are attached. Profit & Loss (m€) 30/06/2019 Inc.% 30/06/2018 Inc.% Ch. Ch. % Sales 3.371,60 2.966,70 404,9 13,60% Other operating revenues 249 7,40% 209,8 7,10% 39,2 18,70% Raw material -1.699,20 -50,40% -1.327,60 -44,70% 371,6 28,00% Services costs -1.075,10 -31,90% -1.031,60 -34,80% 43,5 4,20% Other operating expenses -29,8 -0,90% -30,3 -1,00% -0,5 -1,70% Personnel costs -286,6 -8,50% -281,7 -9,50% 4,9 1,70% Capitalisations 16 0,50% 18,3 0,60% -2,3 -12,60% Ebitda 545,9 16,20% 523,6 17,60% 22,3 4,30% Depreciation and provisions -257 -7,60% -250 -8,40% 7 2,80% Ebit 288,9 8,60% 273,6 9,20% 15,3 5,60% Financial inc./(exp.) -44,9 -1,30% -39,2 -1,30% 5,7 14,50% Pre tax profit 244 7,20% 234,4 7,90% 9,6 4,10% Tax -70,1 -2,10% -72 -2,40% -1,9 -2,60% Net profit 173,9 5,20% 162,4 5,50% 11,5 7,10% Special items - 0,00% 4,8 0,20% -4,8 -100,00% Net profit 173,9 5,20% 167,2 5,60% 6,7 4,00% Attributable to: Shareholders of the Parent Company 166,2 4,90% 158,1 5,30% 8,1 5,10% Minority shareholders 7,7 0,20% 9,1 0,30% -1,4 -15,40% Balance Sheet (m€) 30/06/2019 Inc.% 31/12/2018 Inc.% Ch. Ch. % Net fixed assets 6.064,10 109,80% 5.905,10 108,70% 159 2,70% Working capital 59,8 1,10% 115,4 2,10% -55,6 -48,20% (Provisions) -599,9 -10,90% -588,2 -10,80% -11,7 2,00% Net invested capital 5.524,00 100,00% 5.432,30 100,00% 91,7 1,70% Net equity 2.838,80 51,40% 2.846,70 52,40% -7,9 -0,30% Long term net financial debt 2.754,30 49,90% 2.558,80 47,10% 195,5 7,60% Short term net financial debt -69,1 -1,30% 26,8 0,50% -95,9 -357,80% Net financial debts 2.685,20 48,60% 2.585,60 47,60% 99,6 3,90% Net invested capital 5.524,00 100,00% 5.432,3 100,00% 91,7 1,70% Results for 1H 2019 Press release results for 1H 2019 2017-05-08 13:31:53 Related contents Il Gruppo Hera approva i risultati al 31/03/2019

2019-07-05 Repurchase and cancellation of certain notes Following the press releases dated 19 June 2019 and 2 July 2019, notice is hereby given that as at the date hereof Hera S.p.A. (the "Company") repurchased some of the €500,000,000 3.25 per cent. Notes due 4 October 2021 (Codice ISIN: XS0976307040) (the "2021 Notes") and of the €500,000,000 2.375 per cent. Notes due 4 July 2024 (Codice ISIN: XS1084043451) (the "2024 Notes" and, together with the 2021 Notes, the "Existing Notes"), previously subject to the tender offer launched by BNP Paribas S.A. as offeror (the "Offeror") on 19 June 2019 pursuant to the agreements entered into with the Company, settled on 1 July 2019 (the "Offer"). Following the repurchase, the Company requested the cancellation of the portion of Existing Notes so repurchased. Denomination ISIN Notes tendered for purchase Notes accepted by the Offeror Outstanding Principal Amount €500,000,000 3.25 per cent. Notes due 4 October 2021 XS0976307040 39,994,000 39,994,000 249,855,000 €500,000,000 2.375 per cent. Notes due 4 July 2024 XS1084043451 170,610,000 170,610,000 329,390,000 CS_HERA_Repurchase_and_cancellation_Press_Release.1562340635.pdf 2019-07-05 17:08:00 2020 Integrated Governance Index: Hera once again ranked at the top of sustainable finance

2019-07-05 Borsa Italiana welcomes Hera S.p.A.'s new bond to the green & social segment of ExtraMOT PRO New Hera S.p.A. 500 million euro green bond listed on the ExtraMOT PRO segment This green bond hasa 0.875% coupon rate and a 1.084% rate of return The funds raised will finance projects involving energy efficiency, circular economy, sustainable waste management and water infrastructures Today, Borsa Italiana welcomes Hera S.p.A.'s new green bond to the segment dedicated to green and/or social bonds of the ExtraMOT PRO. This is the second green bond issued on Borsa Italiana's markets by Hera, an Italian multi-utility specialised in providing energy, water and environmental services. The issue has a nominal value of 500 million euro, repayable over 8 years, with a coupon rate set at 0.875% and a rate of return coming to 1.084%. The funds raised will be used to finance or refinance numerous projects, already ongoing or included in the Business plan to 2022, that seek to meet one or more of the goals on the UN's 2030 Agenda, in areas including energy efficiency, circular economy, sustainable waste management and water infrastructures. The bond has been included in the segment of Borsa Italiana's ExtraMOT PRO dedicated to green and/or social bonds, created to allow institutional and retail investors to identify the instruments whose return is destined to finance projects with special environmental and/or social benefits or impacts. With Hera S.p.A.'s new bond, the list of bonds oriented towards sustainable development on Borsa Italiana's bond markets increases by yet another corporate issue, reaching 83 financial instruments listed since the segment was created. Pietro Poletto, Head of Borsa Italiana's bond markets, commented: "The sustainable investment market continues to display strong dynamism and constant growth. The increasing attention shown by investors worldwide towards ESG issues, as defined by their own investment policies, confirms Borsa Italiana's winning strategic choice of dedicating a specific segment to green and social bonds, within the range of bonds we offer. Indeed, Borsa Italiana plays an active role in promoting sustainable finance, and has included among its institutional goals its wish to make a concrete contribution towards promoting a financial culture increasingly built around a circular economy. We believe in developing a sustainable market, thanks to issuers such as Hera, who have sensed and embraced the values involved in ESG matters, as is demonstrated by the issue of their second green bond listed on our market". Stefano Venier, Hera's CEO, stated: "Green, or ESG financial instruments are a fundamental lever used to sustain the Hera Group's commitment towards acting on a business model that is increasingly regenerative and resilient. Able to meet the goals contained in the UN's 2030 Agenda, this model will also respond to the many challenges currently facing us, first and foremost climate change, that require innovative solutions and long-term investments. The green bond that we have issued fully respects these standards and aims". PressRelease_Borsa_Italiana_ExtraMOT_PRO_eng.1562333432.pdf 2019-07-05 15:32:00 Borsa Italiana welcomes Hera S.p.A.'s new bond to the green & social segment of ExtraMOT PRO

2019-07-03 (drafted pursuant to article 85-bis, paragraph 4-bis, of Consob Regulation 11971 / 14 May 1999) Communication of the overall amount of voting rights Bologna, 3 July 2019 - The following table contains the data concerning the shares outstanding and the number of voting rights representing the share capital at 30 June 2019. Updated situation Previous situation Number of shares constituting the Share capital Number of voting rights Number of shares constituting the Share capital Number of voting rights Total of which: 1,489,538,745 2,266,332,400 1,489,538,745 2,261,322,400 Ordinary shares (regular dividend rights: 01.01.2019) - cod. ISIN IT0001250932 Current coupon: n. 18 712,745,090 712,745,090 717,755,090 717,755,090 Ordinary shares with increased voting rights (regular dividend rights: 01.01.2019) - cod. ISIN IT0005159972 Current coupon: n. 18 776,793,655 1,553,587,310 771,783,655 1,543,567,310 20190703_Hera_comunicazione_ammontare_complessivo_diritti_di_voto_ENG.1562164016.pdf 2019-07-03 16:03:00 2020 Integrated Governance Index: Hera once again ranked at the top of sustainable finance

2019-07-02 Final results of the tender offer relating to certain notes Following the press release dated 19 June 2019, notice is hereby given that on 1 July 2019 BNP Paribas S.A. announced the final results of the tender offer launched by it, in its capacity as offeror (the "Offeror"), on 19 June 2019 pursuant to the agreements entered into with Hera S.p.A. (the "Company"), addressed to qualified investors only and relating to (i) the"€500,000,000 3.25 per cent. Notes due 4 October 2021" issued by the Company (ISIN Code XS0976307040) (the "2021 Notes") and (ii) the "€500,000,000 2.375 per cent. Notes due 4 July 2024" (ISIN Code XS1084043451) (the "2024 Notes", and, together with the 2019 Notes, the "Existing Notes") (the "Tender Offer"). The Existing Notes validly tendered for purchase pursuant to the Tender Offer are equal to Euro 210,604,000, split as follows: Euro 39,994,000 in principal amount of 2021 Notes and Euro 170,610,000 in principal amount of 2024 Notes. The Offeror has announced its intention to accept for purchase all the Existing Notes validly tendered pursuant to the Tender Offer, equal to Euro 210,604,000. The payments due pursuant to the Tender Offer were settled on 1 July 2019. 20190702_Gruppo_Hera_esito_tender_offer_ENG.1562059640.pdf 2019-07-02 11:04:00 Borsa Italiana welcomes Hera S.p.A.'s new bond to the green & social segment of ExtraMOT PRO

2019-06-26 Strong interest shown by international investors for the multi-utility's second "green" bond, which will finance environmental sustainability projects in 3 areas: energy efficiency, circular economy and sustainable water resource management. Subscriptions have reached seven times the amount offered. Hera: new 500 m€ green bond Strong interest shown by international investors for the multi-utility's second "green" bond, which will finance environmental sustainability projects in 3 areas: energy efficiency, circular economy and sustainable water resource management. Subscriptions have reached seven times the amount offered. The Hera Group aims to continue in its role as a reference point for sustainable finance in Italy and, five years after issuing the country's first "green" bond, it is now launching its second. The bond is being announced at the end of a road show in Europe's main financial centres, aimed at illustrating the structure of the transaction to investors and analysts, in addition to the way in which the resources will be allocated, i.e. by investing in environmental sustainability projects in the waste, water and energy sectors. Considering that it also launched Italy's first ESG-linked revolving line of credit last year, Hera is carrying on with its activity in identifying and implementing innovative instruments. The latter are indeed able to valorise the company's commitment and the results it has reached hereto in this area, along with its future investment policies, thus meeting the market's growing attention towards this sort of endeavour. The characteristics of the new green bond and the projects financed The second green bond issued by the Hera Group (Moody's rating Baa2 with stable outlook and Standard & Poor's rating BBB with positive outlook) amounts to 500 million euro overall, repayable over 8 years with a 0.875% coupon and a 1.084% return. The date of payment for the newly issued bond has been set at 5 July 2019. Furthermore, the new green bond is expected to have the same rating as the Hera Group. A strong demand, coming to seven times the amount offered, and the quality of the orders received have allowed the price to be fixed at an excellent level. The transaction has seen significant participation from international investors (France, Germany, United Kingdom and Holland), most of whom follow green and sustainable criteria. The bond is expected to be listed on the Irish Stock Exchange and the Luxembourg Stock Exchange's regulated markets, and on Borsa Italiana's ExtraMOT PRO. The funds will be used to finance or refinance numerous projects, already implemented or included in the Business plan to 2022, that pursue one or more of the goals in the UN's 2030 Agenda. These projects have been subdivided into 3 areas: energy efficiency (in line with SDGs 7 and 13): from installing smart metres to developing district heating networks and projects in the area of public lighting; circular economy and sustainable waste management (responding to SDG 12): innovative projects in the waste collection systems, further use of unit pricing, creating plants and structures for recycling, recovering and reusing materials, plants for biological/chemical waste treatment and plants for transforming waste into energy, similar to the Sant'Agata Bolognese (BO) biomethane production plant; water infrastructures (meeting SDGs 6 and 14): waste water management projects, sewerage and water infrastructures furthering resilience and adaptation to climate change. In order to guarantee that the funds are correctly and transparently allocated, Hera has introduced a monitoring and reporting process. The amount actually dedicated to each intervention will be published in the Group's Sustainability Report, along with data concerning the environmental performances reached. "Green Financing Framework": Hera transparent in sustainability as well The Hera Group, furthermore, is among the first companies in Europe to have provided itself with a "Green Financing Framework" (GFF). The GFF is a particularly innovative programming document, in line with "Green Bond Principles", that covers not only aspects linked to issuing the green bond, but also sustainable loans and other ESG instruments on the market. The GFF is accompanied by a "Second Party Opinion", drafted by ISS-oekom, which ranked Hera "Prime" in terms of ESG performance (sixth in a panel of 43 worldwide companies), in particular giving an excellent opinion of Hera's contribution to the water sector. Hera's partners in the transaction The Hera green bond issue was coordinated by BNP Paribas, Credit Agricole CIB, Mediobanca and UniCredit, acting as Joint Bookrunners, and BBVA, acting as Bookrunner. The law firm Legance provided Hera with assistance, while the law firm Linklaters assisted the Bookrunners. ISS-oekom is the world's leading rating firm in the field of responsible investment. Based in Rockville (US), it has branches in 30 countries, with over 2,000 institutional clients and 1,800 consultants. Statement by CEO Stefano Venier "Green, or ESG financial instruments are a fundamental lever used to sustain the Hera Group's commitment towards acting on a business model that is increasingly regenerative and resilient. Able to meet the goals contained in the UN's 2030 Agenda, this model will also respond to the many challenges currently facing us, first and foremost climate change, that require innovative solutions and long-term investments. The green bond we are issuing today fully respects these standards and aims". 20190626_CS_Nuovo_green_bond_Hera_final_eng.1561565392.pdf 2019-06-26 17:43:00 2020 Integrated Governance Index: Hera once again ranked at the top of sustainable finance

2019-06-19 The BoD of Hera S.p.A. authorises the issue of new notes and the refinancing of certain notes 1 For information purposes only, the purchase price for the 2021 Notes will, when determined in the manner described herein on the basis of a Settlement Date of 1 July 2019, be 107.704 per cent. Should the Settlement Date in respect of the 2021 Notes accepted for purchase pursuant to the Offer differ from 1 July 2019, the relevant purchase price will be recalculated, all as further described herein. If the aggregate principal amount of the Existing Notes validly tendered for purchase pursuant to the Tender Offer is greater than the amount of the Existing Notes that the Offeror intends to purchase, the Offeror will accept the relevant tenders on a pro rata basis. The Tender Offer, which starts today, will expire on 26 June 2019, subject to the right of the Offeror to extend, re-open, amend and/or terminate it. The settlement date for the Tender Offer is expected to fall on 1 July 2019. Further information on the terms and conditions of the Tender Offer are set out in the Tender Offer Memorandum. Simultaneously with, by separately from, the Tender Offer, the Company may also consider, at its sole discretion, to purchase, through the Offeror, in whole or in part, one or more series of the following series of notes issued by the Company and privately placed to a limited number of investors: (i) €32,000,000 3.5 per cent. Fixed Rate Notes due 22 May 2025 (ISIN Code: XS0935947977); (ii) €30,000,000 5.25 per cent. Fixed Rate Notes due 14 May 2027 (Namesschuldverschreibung); and (iii) €30,000,000 5.25 per cent. Fixed Rate Notes due 14 May 2027 (ISIN Code: XS0782473556). This notice does not constitute an invitation to participate in the Tender Offer in any jurisdiction in which, or to any person to whom, it is unlawful to make such invitation or for there to be such participation under applicable securities laws and regulations. The distribution of this notice or the Tender Offer Memorandum in certain jurisdictions may be restricted by law and regulations. Persons into whose possession this notice comes are required to inform themselves about, and to observe, any such restrictions. Specific restrictions are included in the Tender Offer Memorandum. 20190619_comunicato_Lancio_nuova_emissione_ENG.1560927472.pdf 2019-06-19 08:09:00 Hera acquires 2.5% of Ascopiave's share capital from Amber

2019-06-17 The business partnership, through the joint venture EstEnergy, involves over 1 million customers, with the new entity's overall value coming to 864.5 million euro and its Ebitda amounting to 69 million euro. With this transaction, the Hera Group reaches over 3 million energy customers. Ascopiave grows in gas distribution by 188,000 delivery points, becoming North-East Italy's leading operator with 775,000 delivery points managed and an added Ebitda amounting to 15.9 million euro. The Hera Group and Ascopiave: a large energy partnership in North-East Italy The business partnership, through the joint venture EstEnergy, involves over 1 million customers, with the new entity's overall value coming to 864.5 million euro and its Ebitda amounting to 69 million euro. With this transaction, the Hera Group reaches over 3 million energy customers. Ascopiave grows in gas distribution by 188,000 delivery points, becoming North-East Italy's leading operator with 775,000 delivery points managed and an added Ebitda amounting to 15.9 million euro. Today, the Boards of Directors of Hera S.p.a. and Ascopiave S.p.a. approved the signing of a binding Term Sheet intended to develop a major entity in areas of North-East Italy, which will be able to rely on over one million energy customers, while at the same time redefining their respective activities in gas distribution. The Term Sheet, which will be finalised by a framework agreement within 31 July 2019, defines the geographical areas involved, the economic terms of the agreement and related elements of governance. The agreement reached represents an important strategic transition in the evolution of the two Groups' activity portfolios and fully respects the strategic lines of development approved by the Boards of Directors of Hera S.p.a. and Ascopiave S.p.a., as communicated to investors. More specifically, as regards the gas and electricity marketing area, the agreement calls for a single operator to be created, bringing together the respective sales operations in the Veneto, Friuli Venezia Giulia and Lombardy regions, acting through EstEnergy S.p.a., a company currently jointly controlled by Ascopiave S.p.a. and Hera Comm S.r.l., the Hera Group's sales company. EstEnergy S.p.a.'s activities in the geographical areas indicated will be considerably increased, coming to include the Ascopiave Group's sales activities carried out by the subsidiaries Ascotrade S.p.a., Ascopiave Energie S.p.a. and Blue Meta S.p.a. as well as the joint ventures Asm Set S.r.l. (49%) and Etra Energia S.r.l. (51%), in addition to the liquidating Sinergie Italiane S.r.l. (30.94%) and the company Energia Base Trieste S.r.l. (92,000 contracts managed) and Hera Comm's Veneto and Friuli customers (96,000 gas contracts and 68,000 electricity contracts). A major operator rooted in the North-East will thus emerge with a portfolio totalling over 795,000 gas contracts and 265,000 electricity contracts, based on 31 December 2018 data, which considering the joint venture pro rata component amounts to over 1 million contracts. This new entity, which will take shape through EstEnergy, when fully operational, will have a consolidated Ebitda coming to roughly 69 m€, based on 2018 data, not including the contribution coming from owned companies with minority shareholdings. 52% of EstEnergy's share capital will be held by the Hera Group, and 48% by Ascopiave. The parties involved have disclosed that the overall equity value of the new EstEnergy amounts to 864.5 m€ (with a corresponding enterprise value of 797 m€), based on 31 December 2018 data, and may be subject to standard adjustments following the closing date; of this amount, 601 m€ (543 m€ enterprise value)pertains to sales activities originating from Ascopiave and 263 m€ to activities originating from HeraComm. In order to regulate the new EstEnergy's governance, a Shareholders Agreement will be signed that calls for a Board of Directors made up of 5 members - 3 appointed by Hera, who will also appoint the CEO, and 2 by Ascopiave, who will also appoint the Chairman and the Chairman of the Board of Auditors - and that furthermore includes standard clauses protecting a minority shareholder, a 7-year right of transfer that may be exercised annually, granted to Ascopiave and reaching its entire shareholding in Est Energy S.p.a. and a right of acquisition, granted to Hera Comm in the event that Ascopiave S.p.a. reaches a residual holding in Est Energy S.p.a. coming to less than or equal to 5% of the company's capital. In particular, the transfer option concerning the minority shareholding of EstEnergy may be exercised, wholly or in part, up to the seventh year from the closing date, at a price set at the higher amount between (i) the fair market value of the shareholding, calculated at the exercise date, and (ii) the value of the shareholding, revised by applying a 4% annual interest rate, net of the amount of dividends received and in any case not lower than the value of the shareholding itself. Furthermore, Amgas Blu, a sales company operating in the province of Foggia with roughly 50,000 customers, entirely owned by Ascopiave, will also be involved in the overall reorganisation of the gas and electricity customer marketing area. This company will be directly acquired by Hera Comm at a price coming to roughly 44 m€, including its financial position, once again with reference to 31 December 2018 data. At the closing date, Ascopiave will acquire a shareholding coming to roughly 3.6% of Hera Comm for the price of 65 m€, gaining the right to appoint one member of the company's Board of Directors. For this shareholding as well, a mechanism is expected to grant Ascopiave the right to transfer its shareholding in Hera Comm, extending over the same period of 7 years. As regards the reorganisation of gas distribution activities, instead, Ascopiave is expected to acquire, from the Hera Group, an area of concessions including 188,000 delivery points in the Veneto and Friuli Venezia Giulia regions, with an investment value amounting to 171 m€ and a proforma Ebitda coming to 15.9 m€, both defined by 31 December 2018 data. Through this transaction, the Ascopiave Group will serve roughly 775,000 users and manage over 12,000 km of network, thus becoming the largest operator in the Triveneto Region and consolidating its position in the national ranking. With this transaction, Ascopiave will proceed with its strategic repositioning plan, establishing a marketing agreement with a major player and reinforcing its presence in the core business of gas distribution. As regards the Hera Group, through these agreements with Ascopiave it will reach its target of 3 million energy customers (3.2, according to 31 December 2018 data) set in its business plan to 2022. This represents a further step along the path of growth in this area, that has seen the Group double its energy customer base over the last 10 years, by way of internal growth and M&As. The transaction, in addition to setting a deadline for the final agreement at 31 July 2019, will be subject to the standard conditions foreseen for this type of transaction and all communications and approvals given by authorities and responsible institutions, as well as, solely concerning the shareholdings in question, the consent of other shareholders in the case of Ascopiave S.p.a.'s shareholdings in the joint ventures ASM Set S.r.l., Etra Energia S.r.l. and the liquidating Sinergie Italiane S.r.l.. The parties involved expect the transaction to be concluded within 31 December 2019. Ascopiave is assisted in the transaction by the teams of Rothschild&Co., for the financial part, and by the Bonelli Erede studio, for the legal part, while Hera has called on Lazard and the Grimaldi studio. The Ascopiave Group operates in the natural gas sector, mainly in the segments of distribution and sale to end users. Thanks to its broad customer base and the quantity of gas sold, Ascopiave is currently one of the main operators in the industry at a national level. The Group owns concessions and direct assignments for the management of distribution activities in over 228 Towns, supplying the service to a market segment of 1.5 million inhabitants, through a distribution network which spreads over 10,000 kilometres. The sale of natural gas is performed through different companies, some under joint control. Overall, in 2018, the companies of the Group sold over 1 billion cubic metres of gas to end users. Ascopiave has been listed under the Star segment of Borsa Italiana since 12th December 2006. Hera Group is one of Italy's largest multi-utility providers working in environment (waste collection and treatment), energy (electricity and gas distribution and sale) and water (aqueduct, sewerage and purification) sectors. The Group employs over 9,000 people and works every day to meet the many and varied needs of over 4.4 million citizens. It serves over 350 local municipalities mainly in the Emilia-Romagna, Marche, Tuscany, Abruzzo, Veneto and Friuli-Venezia Giulia regions. Listed since 2003, on 18 March 2019 Hera shares have been included in the FTSE MIB of Borsa Italiana. 20190617_press_release_GruppoHera_Ascopiave_ENG_final.1560793161.pdf 2019-06-17 19:19:00 2020 Integrated Governance Index: Hera once again ranked at the top of sustainable finance

2019-06-10 TOP10_4_Hera_300.1560183835.png The Hera Group ranks fourth in the 2019 edition of the index that measures the integration of ESG factors within the strategies of Italy's main companies, and first, for the second consecutive year, in the area of sustainable finance. 2019 Integrated Governance Index The Hera Group has firmly maintained its excellent position among Italian companies who unite their own strategies with a commitment towards sustainability. Full confirmation of this has come from the 2019 edition of the Integrated Governance Index, an eminent model that analyses the degree to which ESG (Environmental, Social, Governance) factors are integrated within corporate strategies. These factors represent activities that, in addition to pursuing traditional business objectives, take social and environmental aspects into consideration. This year, the Hera Group came fourth in the overall IGI ranking, one position higher than in 2018, and was confirmed, for the second consecutive year, second to none in the special category dedicated to sustainable finance. This result shows once again the multi-utility's attention towards sustainability and the creation of shared value, two key factors in its strategy and top priority elements in defining its financial operations and investments. The Group's best practices Environmental, social and governance objectives have played a significant role in the Hera Group's strategic planning for some time now and contribute to defining its future path, in line with the UN's 2030 Agenda. Evidence of this can be seen in the Group's shared value Ebitda, i.e. the portion of overall Ebitda that derives from business activities able to meet these same goals, globally: in 2018 this indicator came to 375.2 million euro, or 36% of total Ebitda, with the aim - included in the Business plan - of rising to 40% by 2022. The Group's financial instruments also respect both this vision and the market's increasingly acute awareness of ESG issues. Hera has proven able to move within this framework ahead of time, interpreting ongoing changes and providing itself with innovative models which are attractive on the market. This is precisely why the Hera Group has been recognised, within the Italian scenario, as a reference point for new strategies in the area of sustainable finance. After being the first company in Italy to issue a green bond, in 2014, following the example given by other large corporations internationally, last May it introduced the first sustainable revolving line of credit, thanks to a system that offers bonuses for reaching specific environmental sustainability goals. The latter include, for example, a further reduction in the carbon footprint for energy production, new targets in energy efficiency and improvement in sorted waste, all areas in which the Group has been at the forefront for years, as is documented in its sustainability report. The 2019 Integrated Governance Index The Integrated Governance Index (IGI) is currently the only project that quantitatively evaluates the degree to which ESGs are integrated within corporate management (integrated governance). Developed by ETicaNews, with research and legal support provided by associations and specialised advisors, this year marks its fourth edition. In 2019, the IGI invited Italy's top 100 listed companies to participate, along with businesses that publish non-financial statements and the country's top 50 non-listed companies. The Index's overall analysis and ranking process is based on a survey containing 70 questions, subdivided into eight areas, with an additional area of research that changes each year (dedicated to "ESG and human capital" in 2019). 2019 Integrated Governance Index CS_20190610_IGI2019_eng.1560184159.pdf 2019-06-10 sinistra 15:55:00 Integrated Governance Index 2019

2019-06-05 (drafted pursuant to article 85-bis, paragraph 4-bis, of Consob Regulation 11971 / 14 May 1999) Bologna, 5 June 2019 - The following table contains the data concerning the shares outstanding and the number of voting rights representing the share capital at 31 May 2019. Updated situation Previous situation Number of shares constituting the Share capital Number of voting rights Number of shares constituting the Share capital Number of voting rights Total of which: 1,489,538,745 2,261,322,400 1,489,538,745 2,261,329,400 Ordinary shares (regular dividend rights: 01.01.2018) - cod. ISIN IT0001250932 Current coupon: n. 17 717,755,090 717,755,090 717,748,090 717,748,090 Ordinary shares with increased voting rights (regular dividend rights: 01.01.2018) - cod. ISIN IT0005159972 Current coupon: n. 17 771,783,655 1,543,567,310 771,790,655 1,543,581,310 20190605_COMMUNICATION_OF_THE_OVERALL_AMOUNT_OF_VOTING_RIGHTS_art_85_bis_RE_eng.1559743880.pdf 2019-02-04 15:22:00 Hera SpA

2019-05-15 Results as at 31 March 2019 Consolidated 1Q report shows growing results and a positive contribution coming from all main business areas, in particular the water cycle and gas. Focus on sustainability and circular economy confirmed. /documents/1514726/4210695/GruppoHera_Consolidate_quarterly_report_as_at_31_March_2019.1557915124.pdf/31dd1b53-c44f-3516-add7-13f6c692d301?t=1597849550053 /documents/1514726/4210695/GruppoHera_Analyst_presentation_1Q2019.1557920950.pdf/65d853c3-56d3-3fc2-6473-718d22ce5506?t=1597849549649 http://investornews.gruppohera.it/en/?n=60 /documents/1514726/4210695/Dati_finanziari_ed_operativi_di_sintesi_1Q_2019_eng.1557820941.xls/62c8b86a-5153-9325-f0b7-b2a872128604?t=1597849548933 https://www.slideshare.net/Gruppo_Hera/analyst-presentation-q1-2019-146001380 /group_eng/investor-relations/results-and-presentations/interactive-data Financial results as at 31 March 2019 Analyst presentation: financial results as at 31 March 2019 Newsletter: financial results as at 31 March 2019 Financial data as at 31 March 2019 Slideshare Q1 2019 Interactive data Financial highlights Revenues at 1,940.4 million euro (+11.4%) Ebitda at 330.8 million euro (+2.5%) Net profit at 129.7 million euro (+3.0%) Net financial position at 2,622 million euro Operating highlights Good contribution to growth coming from all main business, above all the water cycle and gas Solid customer base in energy sectors, rising to approximately 2.6 million customers Today, the Hera Group’s Board of Directors, chaired by Tomaso Tommasi di Vignano, unanimously approved the Group’s consolidated economic results for the first quarter of 2019, which improved over the same period of the previous year, showing constant growth in all main indicators. The company’s winning multi-business strategy was thus confirmed, balanced as it is between regulated and free market activities, with high attention given to sustainability and a circular economy. The Hera Group, indeed, pursues this model through both internal and external growth, always prepared to grasp the opportunities offered by the market also thanks to the financial solidity. The Group’s path of 16 years of uninterrupted growth took a step further on 18 March 2019, when it was included in Borsa Italiana’s FTSE MIB index, which brings together the 40 companies with the highest capitalisation on the Italian stock exchange. In general, the results for the first quarter of 2019 benefited from the higher tariffs on regulated services introduced by the Authority’s updates, in addition to commercial expansion and the creation of efficiencies. Among the changes in the Group’s scope of operations compared to the first quarter of 2018, mention must go to Blu Ranton and Sangroservizi in Abruzzo, Megas Net in the Marche region and, as of March 1st 2019, the integration, in the Ferrara area, of the energy sales activities carried out by CMV Energia e Impianti and the natural gas distribution activities carried out by CMV Servizi, including the subsidiary company ATR. Furthermore, 9 May saw the formal acquisition of 100% of the shares of Cosea Ambiente, a company that manages urban and similar waste services owned by 20 municipalities in the Tuscan-Emilian Apennine. This operation also involved a ten-year concession for the Cosea Consorzio landfill in Gaggio Montano, effective as of the second quarter of 2019. Revenues reach 1.94 billion euro In the first quarter of 2019, revenues amounted to 1,940.4 million euro, rising compared to the 1,741.3 million seen in the same period of 2018. Contributions to this result came above all from growth in revenues from trading activities, power generation and waste treatment business, as well as higher revenues and higher volumes in gas and electricity sales. Ebitda rises to 330.8 million euro Ebitda went from 322.7 million euro in the first quarter of 2018 to 330.8 million at 31 March 2019, showing an 8.1 million increase (+2.5%). This growth is due to the good performances in all Group’s main areas, in particular the water cycle and gas. Improvement was also seen in the results from the waste management area and in other services, while the electricity area remained essentially stable. Operating results and pre-tax profits grow Net operating results also increased, coming to 205.0 million euro at 31 March 2019, up compared to the 197.6 million seen in the same period of 2018 (+3.7%). The change in financial operations came to 3.6 million euro, amounting to 21.1 million at the end of the first quarter, owing to lower dividends received and the application of accounting standard IFRS 16 on operating leases. Pre-tax profits grew by 2.1%, going from 180.1 million in the first quarter of 2018 to 183.9 million euro in the same period in 2019. Net profits up, settling at 129.7 million (+3.0%) Net profits for the first quarter of 2019 increased to 129.7 million euro, as compared to the 125.9 million recorded one year earlier (+3.0%). Profits pertaining to Group Shareholders, instead, came to 124.2 million euro, with a 3.1% growth over the 120.5 million seen in the same period of 2018. These results, considered alongside the improved tax rate (which came to 29.5%, compared to 30.1% in the first quarter of the previous year), are due to factors including the Group’s continuous commitment towards grasping the benefits offered by current legislation, in particular through the depreciations involved in the significant investments made in the direction of Utility 4.0. Over 96 million in investments, net debt stable Including capital grants, overall investments in the first 3 months of 2019 amounted to 96.3 million euro, up 7.4% over the same period of the previous year, and mainly concerned interventions on plants, networks and infrastructures. Additionally, investments were made in a large-scale metre substitution and in the purification and sewerage areas. Net debt remained essentially stable, coming to 2,622.0 million euro at 31 March 2019, compared to the 2,585.6 million seen at 31 December 2018. Excluding the changes ensuing from the application of accounting standard IFRS 16 on operating leases, a positive operating cash flow were seen in the first quarter. The 12-month rolling net debt/Ebitda ratio settled at 2.52x, confirming the Group’s financial solidity. Gas Ebitda for the gas area, which includes services in natural gas distribution and sales, district heating and heat management, settled at 151.0 million euro in the first quarter of 2019, rising compared to the 148.2 million seen at 31 March 2018 (+1.9%), thanks to the new portions of the default and last resort markets obtained. Gas customers increased by almost 80 thousand or 5.6% over the amount seen one year earlier, reaching 1.5 million, for reasons including the incorporation of the companies Blu Ranton, Sangroservizi and CMV Energia e Impianti, new customers in the last resort and default markets, and marketing initiatives. The gas area accounted for 45.6% of Group Ebitda. Water cycle The integrated water cycle area, which includes aqueduct, purification and sewerage services, showed strong growth in Ebitda, which went from 55.6 million euro in the first quarter of 2018 to 58.9 million in the same period in 2019 (+6.0%), thanks to higher revenues from new connections and lower operating costs. As was the case for the previous year, these results benefitted from bonuses awarded by the Authority for high service standards. The integrated water cycle area accounted for 17.8% of Group Ebitda. Waste Ebitda for the waste management area, which includes waste collection, treatment and disposal services, went from 66.5 million euro in the first quarter of 2018 to 67.3 million at 31 March 2019 (+1.2%), thanks in particular to higher revenues coming from waste treatment, the contribution made by Aliplast and the street sweeping business. In this sector, the Hera Group has consolidated its national leadership thanks to complete and integrated service offers, commercial partnerships, participation in tenders, and its roughly 90 avant-garde plants, able to provide efficient and sustainable solutions that support a circular economy. Good results were also achieved in the area of sorted waste, which rose to 64.1%, compared to the 59.5% seen in the first quarter of 2018, thanks to the numerous projects implemented across all areas served. The waste management area accounted for 20.3% of Group Ebitda. Electricity Ebitda for the electricity area, which includes services in electricity production, distribution and sales, went from 45.3 million euro in the first quarter of 2018 to 45.2 million at 31 March 2019, owing to lower income in the last resort market, which was however largely offset by a higher amount of electricity generation. Customers reached over 1.1 million, increasing by 10.3% over 31 March 2018, with over 100 thousand new customers: this significant growth mainly occurred on the free market, due to reinforced marketing initiatives, above all in central Italy, and the incorporation of the company CMV Energia e Impianti. The electricity area accounted for 13.7% 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 first-quarter management report and related materials are available to the public at Company Headquarters and on the website www.gruppohera.it. Unaudited extracts from the Intermediate Management Report at 31 March 2019 are attached. Profit & Loss (m€) 31/03/2019 Inc.% 31/03/2018 Inc.% Ch. Ch. % Sales 1,940.4 1,741.3 +199.1 +11.4% Other operating revenues 121.0 6.2% 95.3 5.5% +25.7 +27.0% Raw material (1,024.6) (52.8%) (831.4) (47.7%) +193.2 +23.2% Services costs (556.7) (28.7%) (538.5) (30.9%) +18.2 +3.4% Other operating expenses (13.1) (0.7%) (12.7) (0.7%) +0.4 +3.1% Personnel costs (142.9) (7.4%) (140.0) (8.0%) +2.9 +2.1% Capitalisations 6.7 0.3% 8.7 0.5% (2.0) (23.1%) Ebitda 330.8 17.0% 322.7 18.5% +8.1 +2.5% Depreciation and provisions (125.8) (6.5%) (125.0) (7.2%) +0.8 +0.6% Ebit 205.0 10.6% 197.6 11.3% +7.4 +3.7% Financial inc./(exp.) (21.1) (1.1%) (17.5) (1.0%) +3.6 +20.6% Pre tax profit 183.9 9.5% 180.1 10.3% +3.8 +2.1% Tax (54.2) (2.8%) (54.2) (3.1%) +0.0 +0.0% Net profit 129.7 6.7% 125.9 7.2% +3.8 +3.0% Attributable to: Shareholders of the Parent Company 124.2 6.4% 120.5 6.9% +3.7 +3.1% Minority shareholders 5.5 0.3% 5.4 0.3% +0.1 +2.3% Balance Sheet(m€) 31/03/2019 Inc.% 31/12/2018 Inc.% Ch. Ch.% Net fixed assets 6,042.1 108.5% 5,905.1 108.7% +137.0 +2.3% Working capital 118.9 2.1% 115.4 2.1% +3.5 +3.0% (Provisions) (591.8) (10.6%) (588.2) (10.8%) (3.6) +0.6% Net invested capital 5,569.2 100.0% 5,432.3 100.0% +136.9 +2.5% Net equity 2,947.2 52.9% 2,846.7 52.4% +100.5 +3.5% Long term net financial debt 2,760.4 49.6% 2,558.8 47.1% +201.6 +7.9% Short term net financial debt (138.4) (2.5%) 26.8 0.5% (165.2) (616.4%) Net financial debt 2,622.0 47.1% 2,585.6 47.6% +36.4 +1.4% Net invested capital 5,569.2 100.0% 5,432.3 100.0% +136.9 +2.5% Results as at 31 March 2019 Press release as at 31 March 2019 2019-03-25 13:32:43 Il Gruppo Hera approva i risultati al 31/03/2019

2019-05-10 Kindly note that as of today the minutes of the Shareholders Meeting held on 30 April 2019 are available at company headquarters, on the Hera Group's website (www.gruppohera.it), in the section dedicated to Corporate Governance, and on the authorised storage website 1info. 20190510_Gruppo_Hera_COMUNICATO_VERBALE_ASSEMBLEA_ENG.1557496121.pdf 2014-04-24 15:12:00 110_assemblea.1393520601.jpg

2019-05-09 Nuova_Palazzina_1_870x.1533219432.jpg The multi-utility has consolidated its leadership in the waste management area by acquiring the entire shareholding of the company operating in waste management, owned by 20 Municipalities in the Tuscan-Emilian Apennine area. Hera Group acquires 100% of Sangroservizi The Hera Group has been definitively awarded the tender for purchasing 100% of the shares of Cosea Ambiente S.p.A., a company managing urban and similar waste services owned by 20 Municipalities in the Tuscan-Emilian Apennine area (15 in the province of Bologna, already Hera Group shareholders, and 5 in the province of Pistoia). The documents involved were signed today, 9 May 2019. The tender was accompanied by a ten-year concession for the Cosea Consorzio's Ca' dei Ladri landfill, in the Municipality of Gaggio Montano, also covering assets and resources involved in its operation. The concession, also dated today, was stipulated between Herambiente and Cosea Consorzio. The 18 Municipalities owning Cosea Consorzio are also shareholders in Cosea Ambiente, even while holding different percentages in the two companies, with the exception of two Municipalities with no shareholding. Thanks to this acquisition, the Hera Group will be able to manage its waste management services in an increasingly synergic way across the entire Province of Bologna. These services will be integrated with the others already offered in the Apennine area (mainly water and gas), guaranteeing at the same time that the personnel currently employed is maintained. As for the Municipalities previously served by Cosea Ambiente, they will benefit from the scale economies ensuing from an advanced industrial approach in service management and fully meet the goals set by the regional law on recycling and recovery. Further benefits will also come from the multi-utility's many infrastructures, which already guarantee a high level of environmental performance in the areas served by Hera (selection, disposal and biomethane production plants, etc.). Additionally, the Hera Group will invest in currently existing infrastructures and activities over the next few months. This operation is to be counted alongside the acquisitions made in previous years of Treviso's Aliplast and Geo Nova and Tuscany's Waste Recycling and Teseco, finding its place along the Hera Group's path of growth and the consequent enlargement of its scope of operations, as pursued for a number of years. It furthermore allows the multi-utility to consolidate to a greater degree its national leadership in the waste management sector, in which it serves 3.3 million citizens in over 170 Municipalities and manages all types of waste, thanks to roughly 90 plants that bring together efficiency, competitiveness in costs and the sustainability dictated by the principles of a circular economy. "This transaction represents another milestone in the ongoing enlargement of our activities in waste management, with the aim of optimising resources and processes, extracting synergies and creating value for the areas served and for all our stakeholders", comments Tomaso Tommasi di Vignano, Executive Chairman of the Hera Group. "All of this allows us to offer quality services and increasingly integrated solutions to citizens and industrial customers, bringing reliability together with sustainability in the collection and treatment of any type of waste." Romano Franchi, Chairman of Consorzio Cosea's Shareholders Meeting, has stated that "All shareholder municipalities have resolved in favour of this operation. There are a number of reasons for this: it allows us to safeguard the system's economic sustainability and to guarantee employment through a local presence, while at the same time reaching regulatory aims. We are leaving Hera a healthy system, confident that the Group will be able to further improve it." Hera Group acquires 100% of Sangroservizi 20190509_press_release_COSEA_acquisition.1557413719.pdf 2018-03-09 16:14:00 Read more Borsa Italiana welcomes Hera S.p.A.'s new bond to the green & social segment of ExtraMOT PRO

2019-05-07 (drafted pursuant to article 85-bis, paragraph 4-bis, of Consob Regulation 11971 / 14 May 1999) Bologna, 7 May 2019 - The following table contains the data concerning the shares outstanding and the number of voting rights representing the share capital at 30 April 2019. Updated situation Previous situation Number of shares constituting the Share capital Number of voting rights Number of shares constituting the Share capital Number of voting rights Total of which: 1,489,538,745 2,261,329,400 1,489,538,745 2,261,381,952 Ordinary shares (regular dividend rights: 01.01.2018) - cod. ISIN IT0001250932 Current coupon: n. 17 717,748,090 717,748,090 717,695,538 717,695,538 Ordinary shares with increased voting rights (regular dividend rights: 01.01.2018) - cod. ISIN IT0001250932 Current coupon: n. 17 771,790,655 1,543,581,310 771,843,207 1,543,686,414 20190507_COMMUNICATION_OF_THE_OVERALL_AMOUNT_OF_VOTING_RIGHTS_eng.1557219263.pdf 2019-02-04 09:47:00 Hera SpA

2019-04-30 HERA_assemblea_azionisti.1556626141.jpg The multi-utility, included in the FTSE MIB as of 18 March 2019, improved all its main operating-financial and sustainability indicators, with results exceeding expectations and Ebitda amounting to over one billion for the first time. Commitment towards creating shared value also confirmed The Hera Ordinary Shareholders Meeting called to approve the 2018 financial statements was held in Bologna this morning, and the 2018 sustainability report (a consolidated non-financial statement drafted pursuant to legislative decree 254/2016) was presented. 2018 financial statements approved with strong growth in results In the ordinary session, the Shareholders Meeting approved the balance sheets pertaining to 2018, which showed improvement in all main operating-financial indicators: turnover reached € 6,626.4 million, up 8% over the previous year, Ebitda exceeded one billion euro for the first time - coming to € 1,031.1 million (+4.7%) - and net profits amounted to € 296.6 million (+11.2%). Overall Group investments in 2018, including capital grants, reached € 462.6 million (+5% over 2017). Net debt settled at € 2,585.6 million, essentially stable compared to the previous year (2,523.0 million in 2017). The quality of these results was confirmed by a drop in the net debt/Ebitda ratio, which fell to 2.51x (compared to the 2.56x seen in 2017), providing further confirmation of the Group's financial solidity, which was also reflected in the opinions released by leading rating agencies (Baa2 with stable outlook from Moody's and BBB with positive outlook from Standard & Poor's). The positive results for 2018, in line with the Business plan to 2022 and higher than the forecasts communicated last January, confirm the Hera Group's ranking among Italy's major multi-utilities and lay the foundations to grasp further opportunities for expansion in the fragmentary markets in which it operates. These figures furthermore bear witness yet again to the strengths of its multi-business strategy: a model balanced between regulated and free market activities, which brings internal growth together with external development, creating efficiencies and synergies that benefit the regions served, while remaining constantly in contact with the main stakeholders. For 16 years, the Hera Group has indeed pursued a path of uninterrupted growth: Ebitda has quintupled and net profits have grown eightfold. The multi-utility has thus reached an outstanding position nationwide in all activities managed (raking first in the waste management sector, second in the integrated water service and third in both gas distribution and energy sales to final customers). This growth was crowned on 18 March 2019, when the stock was included in the FTSE MIB, Borsa Italiana's foremost stock exchange index. Increase in dividends paid, now reaching 10 cents/share The Meeting thus approved the Board of Directors' proposal to pay a dividend of 10 cents per share, up over the amount seen in the past. The ex coupon date has been set at 24 June, with payment beginning on 26 June 2019. The dividend paid, based on the price of Hera shares at 31/12/2018, corresponds to an annual return of 3.7%. This confirms once again the Group's strong commitment to creating value for shareholders, as is also underlined by the most recent Business plan, whose dividend policy expects further growth to occur, reaching 11 cents in 2022. The sustainability report: shared value Ebitda reaches 375.2 million The 2018 sustainability report, presented during the meeting, highlights the Group's attention towards creating shared value, reporting information on those businesses that, in addition to creating operating margins for the company, work towards the objectives for sustainable growth contained in the UN Agenda. The areas in which Group's commitment takes shape fall under three main drivers: a smart use of energy, an efficient use of resources, along with innovation and contribution to local development. The Hera Group's 2018 shared value Ebitda came to 375.2 million euro (+14% over 2017), representing 36% of overall Ebitda: a result which is perfectly in line with the path set out in the Business plan, in which this indicator is projected to reach 40% by 2022. Furthermore, in 2018 the Group invested over 180 million euro (approximately 40% of the total) in initiatives and projects aimed at creating shared value. As regards the smart use of energy, the initiatives introduced allowed internal energy consumption to be reduced by 4.4% compared to 2013, while the Group also made a commitment to reducing CO2 emissions, through means including the use of entirely renewable electricity for the company's activities. Another important projects concern the production of biomethane from the organic part of waste in the Sant'Agata (BO) plant, the production of 600 GWh of renewable energy and a 16% reduction in the Group's carbon footprint in energy production. The amount of greenhouse gasses avoided thanks to the Group's initiatives have been estimated at 2.3 million tonnes, a figure which increased for reasons including its choice to guarantee a supply of electricity coming from renewable sources for all family customers, not only for those who have chosen the "Nature package" option. As regards the efficient use of resources, sorted waste destined to be recycled saw an unprecedented increase in 2018, rising to 62.5% (against 57.7% in 2017, and compared to the national average of 55.5%). Another outstanding example is the amount of packaging recycled, which came to 70%, meaning that the Hera Group has already reached the goal for 2030. A strong commitment towards sustainability was also seen in the sewerage and purification sector, with interventions including the Rimini seawater protection plan and the upgraded Servola purifier in Trieste, fully operational as of June 2018. Lastly, significant results also came from innovation and contribution to local development, with positive repercussions on local economies and their rate of employment. In 2018, the Group created an economic value of almost 2 billion euro in the areas in which it operates, equivalent to 78% of the total economic value (+4% over the previous year). Investments in innovation and digitalisation amounted to 62.4 million in 2018 and went towards projects in four areas: smart city, circular economy, utility 4.0 and customer experience. Other resolutions approved The Meeting furthermore approved the renewal of 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 renewed authorisation to use treasury shares was requested to pursue the aims recognised by current regulations and accepted market practices, in order to increase the creation of value through operations giving rise to investment opportunities and transactions involving financial instrument issuance. The Meeting, lastly, approved the remuneration policy report, in line with international best practices, and the corporate governance report was also presented. Hera Shareholders Meeting 20190430_CS_Assemblea_Soci_Hera_eng.1556625182.pdf 2019-04-30 13:10:29 Hera Shareholders Meeting

2019-04-18 Bologna, 18 April 2019 - The following table contains the data concerning the shares outstanding and the number of voting rights representing the share capital at 17 April 2019. Updated situation Previous situation Number of shares constituting the Share capital Number of voting rights Number of shares constituting the Share capital Number of voting rights Total of which: 1,489,538,745 2,261,381,952 1,489,538,745 2,264,486,952 Ordinary shares (regular dividend rights: 01.01.2018) - cod. ISIN IT0001250932 Current coupon: n. 17 717,695,538 717,695,538 714,590,538 714,590,538 Ordinary shares with increased voting rights (regular dividend rights: 01.01.2018) - cod. ISIN IT0001250932 Current coupon: n. 17 771,843,207 1,543,686,414 774,948,207 1,549,896,414 20190418_Hera_comunicazione_ammontare_complessivo_diritti_di_voto_ENG.1555592350.pdf 2019-02-04 13:26:00 piloni_110x150.1461840758.png

2019-03-28 Kindly note that the following documentation, pertaining to the Shareholders Meeting convened for 30 April 2019, is available to the public at company headquarters, the authorised storage website 1INFO (www.1Info.it) and on the Hera Group's website (www.gruppohera.it/gruppo/corporate_governance/assemblee/): Hera S.p.A. Board of Directors' Explanatory Report regarding item 3 on the Agenda. 20190328_Publication_of_documents_pertaining_to_the_Shareholders_Meeting_of_30_April_2019.1553762005.pdf 2019-03-28 11:22:00 110x150_heraspa.1475082913.jpg

2019-03-27 Results at 31/12/2018 The multi-utility, included as of Monday 18 March in the FTSE MIB, closed the year with all main results improving beyond expectations, reaching the milestone of a one billion-euro Ebitda and crowning a history of 16 years of uninterrupted growth. Proposed dividends also rise to 10 cents per share, in line with the content of the business plan. https://eng.gruppohera.it/group_eng/investor-relations/results-and-presentations/y2018 /documents/1514726/4880892/GruppoHera_Consolidated_Financial_Statements_31_12_2018.1554724349.pdf/44a36885-d73d-277e-aff2-53db3830e0b2?t=1610019133226 /documents/1514726/4880892/GruppoHera_Analyst_Presentation_Y2018.1553697207.pdf/9c5e4a91-9a6f-6051-3cc1-9bf082022a93?t=1610019129901 http://investornews.gruppohera.it/en/?n=59 /documents/1514726/4210707/Dati_finanziari_31_12_2018_eng.1553529410.xls/d37906ea-869f-f70e-61cc-aef86dc37c28?t=1597907641160 https://www.slideshare.net/Gruppo_Hera/analyst-presentation-y2018 /group_eng/investor-relations/results-and-presentations/interactive-data HTML Y2018 results Financial results as at 31/12/2018 Analyst presentation: Y2018 results Newsletter: Y2018 results Financial data as at 31 December 2018 Slideshare Y2018 Interactive data Financial highlights Turnover at 6,626.4 million euro (+8.0%) Ebitda at 1,031.1 million euro (+4.7%) Net profits at 296.6 million euro (+11.2%) Net debt at 2,585.6 million euro Net debt/Ebitda ratio improves to 2.51x Proposed dividends increase to 10 cents per share Operating highlights Good contribution to growth coming from all businesses, in particular the integrated water cycle and the gas area Management marked by good results achieved in internal growth Solid customer base in energy sectors (over 2.5 million), up by roughly 150,000 Sorted waste increases to a 62.5% average over all areas served Improvement seen in all sustainability indicators, with shared value Ebitda growing to 375.2 million euro (+14%) Today, the Hera Group’s Board of Directors, chaired by Tomaso Tommasi di Vignano, unanimously approved the consolidated economic results at 31 December 2018, along with the Sustainability Report. 16 years of uninterrupted growth and winning strategies, with all main operating-financial and sustainability indicators improving The Hera Group closed the 2018 financial year with improved results, exceeding expectations. All business areas contributed to this growth, which was largely sustained by regulated activities. The results achieved confirm the Hera Group’s position of leadership among multi-utilities and the solidity of its business model, preparing it to grasp additional opportunities for expansion in the fragmentary markets in which it operates. The Group’s sixteen-year track record of uninterrupted development combining internal and external growth has allowed it to reach significant economies of scale and ever-increasing synergies thanks to its multi-business industrial approach, balanced between regulated and free-market activities, which has proved to be a winning strategy. Since its birth in 2002, the Hera Group has quintupled its Ebitda, with net profits increasing eightfold: it now ranks among the Nation’s leaders in all business areas (first in waste management, second in the integrated water cycle, third in gas distribution and in energy sales to end customers). These results are accompanied by a strong commitment towards social and environmental sustainability and towards creating shared value, both of which are competitive levers in all respects and bring the company’s development into line with the targets defined in the UN’s 2030 Agenda and the most advanced European goals. Turnover exceeds 6.6 billion, increasing by 8.0% The Hera Group’s 2018 turnover rose to 6,626.4 million euro, up 489.5 million (+8.0% over the 6,136.9 seen in 2017), thanks above all to higher revenues in gas and electricity sales owing to volumes sold, in addition to higher revenues in the waste management area and water services. Ebitda grows to 1,031.1 million (+4.7%) Group Ebitda exceeded one billion euro for the first time, reaching 1,031.1 million (+4.7%), up 46.5 million over the 984.6 million recorded in 2017 and above the forecast released on 10 January 2019 (indicating an estimated 1,020 million 2018 Ebitda). This result was due to the good performances seen in the Group’s various business areas, first and foremost the integrated water cycle and the gas area. Operating results and pre-tax profits increase, financial management improves Net operating results also rose, coming to 510.1 million euro, up 30.8 million (+6.4% compared to the 479.3 seen in 2017), despite higher operating amortisation, depreciation and provisions for new investments in regulated distribution and changes in the scope of operations. Pre-tax profits went from 377.8 million euro in 2017 to 418.4 million (+10.7%), rising by 40.6 million euro thanks to a 9.8 million improvement in financial management. Sharp rise in net profits, reaching 296.6 million euro (+11.2%) Group net profits increased to 296.6 million euro (+11.2%), with a 29.8 million euro rise over the 266.8 seen one year earlier. The average tax rate settled at 29.1%, as against 29.6% at 31 December 2017; the latter moreover benefitted from several exemptions, without which it would have come to 30.8%. The improvement is thus equivalent to 1.7% and is linked to the benefits coming from the Group’s considerable investments in assets going towards technological and digital transformation. Profits pertaining to Group Shareholders came to 281.9 million euro (+12.1%), up 30.4 million over 2017. Investments rise to 462.6 million euro, Net debt/Ebitda ratio further improves to 2.51 Including capital grants, the Group’s overall 2018 investments came to 462.6 million euro, up 5% over the 440.5 million seen the previous year. They mainly went to interventions on plants, networks and infrastructures, to guarantee efficiency, safety, resilience and innovation, in addition to regulatory upgrading above all in gas distribution, with an intensive meter substitution, and the purification and sewerage areas. Net investments came to 431.8 million. Net debt settled at 2,585.6 million euro, improving compared to the 30 September 2018 figure and essentially stable with respect to the previous year (2,523.0 million in 2017), despite higher investments, the M&A operations seen during the year and the treasury shares repurchased. Further improvement was seen in the Net debt/Ebitda ratio, which dropped to 2.51 (compared to 2.56 in 2017). The Group’s financial solidity is reflected by the opinions expressed by major rating agencies: Baa2 with a stable outlook from Moody’s and BBB with a positive outlook from Standard & Poor's. Further improvement in the Group’s sustainability, shared value Ebitda up to 36% These positive operating results were matched by an ever-increasing attention towards sustainability. The Hera Group was among the first to introduce, in 2016, shared value reporting, covering all business activities that in addition to generating Ebitda for the company respect the drivers of sustainable development defined by the UN’s 2030 Agenda and, more generally speaking, various national and international policies. The Hera Group’s 2018 shared value Ebitda came to 375.2 million euro, accounting for 36% of overall Ebitda (+14% compared to the 329 million seen the previous year). This result is perfectly in line with the path set out by the Business plan, in which this indicator is projected to reach 40% by 2022. The Group’s attention towards sustainability is also proven by the fact that 40% of total investments made by the Group – coming to over 180 million euro – go towards initiatives and projects aimed at creating shared value, distributed among the three drivers within which the Hera Group has organised this commitment: 71.3 million invested in innovation and contributions to development, 68.9 million in a more efficient use of resources and 48.3 million in a smarter use of energy. Proposed dividends rise to 10 cents per share, inclusion within the FTSE MIB In 2019 Hera became part of the Borsa Italiana FTSE MIB index, which includes the 40 largest companies listed on the Italian stock exchange, thanks to the amount of free float capitalisation and the value of the shares traded over the last six months. The Board of Directors, considering the positive results achieved and the Group’s sound financial profile, has decided to put a dividend of 10 cents per share to the Shareholders Meeting to be held on 30 April 2019, higher than last June (9.5 cents per share) and in line with the content of the Business plan. The ex-dividend date has been set at 24 June 2019, with payment as of 26 June 2019. Gas Ebitda for the gas area, which includes services in natural gas distribution and sales, district heating and heat management, grew significantly over the previous year in terms of both margins and volumes sold: it indeed reached 316.5 million euro (+4.9%), 14.8 million more than the 301.7 million seen in 2017. This result was reached thanks to commercial development on the free market, increased activity on the default market and in last resort supply, greater efficiency in distribution and the positive effect on consumption coming from the colder winter temperatures. The number of customers rose by 59.6 thousand (4.3%), now totalling 1.5 million users, partially due to the acquisitions of 100% of the Abruzzo companies Blu Ranton and Sangroservizi. Volumes sold increased by 18.2%. In 2018 net investments amounted to 115.4 million euro (+14.3% compared to 2017), to guarantee and improve the high-quality standards in networks and plants, with non-recurring maintenance and work involving cathodic protection for the Trieste network. Investments also rose for heat management and the number of new connections in district heating grew. The gas area accounted for 30.7% of Group Ebitda. Water cycle In 2018, the integrated water cycle area, which includes aqueduct, purification and sewerage services, recorded Ebitda amounting to 249.7 million euro, up 19.8 million euro (+8.6%) over the 229.9 seen over the previous year. This result was mainly obtained through the efficiencies reached, higher revenues resulting from the tariffs introduced by the Authority, the bonuses awarded for high service standards and the change in scope of operations resulting from the operational status of the new Servola (Trieste) purifier and a few items from previous years. Net investments amounted to 127.6 million euro (increasing by 12.8% over 2017). Including capital grants, investments totalled 157.9 million, mainly dedicated to extensions, network and plant upgrading and reclamations, in addition to regulatory upgrading concerning above all purification and sewerage. The main investments also included work on the Rimini seawater protection plan, one of the Group’s most important and at the forefront nationwide as regards sewerage and purification. The integrated water cycle area accounted for 24.2% of Group Ebitda. Waste Ebitda for the waste management area, which includes waste collection, treatment and disposal services, also grew, coming to 252.0 million euro (+2.4%), up 6 million over the 246.0 million recorded in 2017. In the waste treatment sector, in which the Group ranks once again as the nation’s leader with roughly 90 plants handling all types of waste, the positive results were mainly due to fluctuations in the price of special waste and revenues from electricity generation. In waste management and recovery, it is worth mentioning, Hera works with complete and integrated offers, providing its partner companies with all-inclusive solutions that bring together efficiency and sustainability, in line with the principles of a circular economy. This is the strategy underlying the biomethane production plant inaugurated in October in Sant’Agata Bolognese thanks to a 37 million euro investment, which as of 2019 will contribute to results in the waste management area, and the contribution coming from Aliplast, a national and international leader in plastic collection and recycling. Sorted waste going towards recycling showed an unprecedented increase in 2018: almost five percentage points, going from 57.7% in 2017 to 62.5%, thanks to the numerous projects implemented across all areas served. The positive performance in sorted waste is also due to a few municipalities where services have been modified as preparation for the shift to unit pricing, with Ferrara representing one outstanding example. Investments coming to 77.7 million euro were mainly dedicated to maintaining and upgrading plants. The waste management area accounted for 24.4% of Group Ebitda. Electricity The electricity area, which includes services in electricity production, distribution and sales, recorded an Ebitda coming to 183.5 million, essentially in line with the 184.5 million recorded the previous year. This result was mainly due to higher revenues from sales and distribution, along with higher margins and operating efficiencies which largely offset lower revenues in trading and the lower income from electricity generation caused by regulatory modifications and temporarily suspended plants in Campania. Electricity customers rose to 1.1 million (+8.9%), up 87.1 thousand, with significant growth seen above all on the free market thanks to reinforced marketing initiatives, in particular in regions of Central Italy. Investments amounting to 23 million euro went mainly to non-recurring maintenance on plants and networks in the Modena, Imola, Trieste and Gorizia areas. The amount of Group Ebitda accounted for by the electricity area came to 17.8%. Statement by Executive Chairman Tomaso Tommasi di Vignano “We are particularly satisfied with the results achieved, since the various indicators confirm that the Hera Group’s growth is a healthy one: it corresponds, indeed, to further increases in the rates of return, with ROI and ROE continually progressing over the last 4 years. This is due to a growing and efficient capital allocation, expansion on free markets, the enhanced efficiency attained, and the innovations introduced, all of which has brought about a 6% growth in Ebitda per employee. Furthermore, we have confirmed our tendency to create value for all stakeholders, beginning with our shareholders, to whom we will pay a 10 cent per share dividend, showing a further increase with respect to the past and in line with what we have presented in our Business plan. They will additionally benefit from a higher stock liquidity, thanks to our recent entry in the FTSE MIB.” Statement by CEO Stefano Venier “The Hera Group’s excellent results, largely produced by internal growth, bear witness to the actions we have undertaken to improve efficiency and sustainability to an even greater degree, and also to broaden our reference market through tenders and boost our ability to compete on free markets. Our positive operating management has been matched by an improved financial management and tax optimisations, as is fully reflected by the Group’s growing profits. I feel it is important to mention that our growth is proceeding at the same rate as our attention towards sustainability and creating shared value, both fundamental levers in our strategy. Evidence of this can be seen in both the Group’s rising Ebitda that, in 2018 as well, was fully in line with the principles of shared value, and in our innovative financial operations, such as launching the first sustainable revolving line of credit last May, after we pioneered the first green bond on the Italian market in 2014.” 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. From 8 April 2019 the Y18 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 Y18 Financial Statements are attached. PROFIT & LOSS (M€) 31/12/2018 INC.% 31/12/2017 INC.% CH. CH. % Sales 6,134.4 5,612.1 +522.3 +9.3% Other operating revenues 492.0 8.0% 524.8 9.4% (32.8) (6.3%) Raw material (2,984.1) (48.6%) (2,606.8) (46.4%) +377.3 +14.5% Services costs (2,040.5) (33.3%) (1,952.2) (34.8%) +88.3 +4.5% Other operating expenses (62.5) (1.0%) (84.6) (1.5%) (22.1) (26.1%) Personnel costs (551.4) (9.0%) (551.6) (9.8%) (0.2) (0.0%) Capitalisations 43.3 0.7% 43.0 0.8% +0.3 +0.7% Ebitda 1,031.1 16.8% 984.6 17.5% +46.5 +4.7% Depreciation and provisions (521.0) (8.5%) (505.3) (9.0%) +15.7 +3.1% Ebit 510.1 8.3% 479.3 8.5% +30.8 +6.4% Financial inc./(exp.) (91.7) (1.5%) (101.5) (1.8%) (9.8) (9.7%) Pre tax profit 418.4 6.8% 377.8 6.7% +40.6 +10.7% Tax (121.8) (2.0%) (111.8) (2.0%) +10.0 +8.9% Net profit before special items 296.6 4.8% 266.0 4.7% +30.6 +11.5% Special items 0.0 0.0% 0.8 0.0% (0.8) (100.0%) Net profit 296.6 4.8% 266.8 4.8% +29.8 +11.2% Attributable to: Shareholders of the Parent Company 281.9 4.6% 251.5 4.5% +30.4 +12.1% Minority shareholders 14.7 0.2% 15.3 0.3% (0.6) (3.9%) BALANCE SHEET(M€) 31/12/2018 INC.% 31/12/2017 INC.% CH. CH.% Net fixed assets 5,905.1 108.7% 5,780.6 110.5% +124.5 +2.2% Working capital 115.4 2.1% 23.2 0.4% +92.2 +397.4% (Provisions) (588.2) (10.8%) (574.8) (10.9%) (13.4) +2.3% Net invested capital 5,432.3 100.0% 5,229.0 100.0% +203.3 +3.9% Net equity 2,846.7 52.4% 2,706.0 51.7% +140.7 +5.2% Long term net financial debt 2,558.8 47.1% 2,735.4 52.4% (176.6) (6.5%) Short term net financial debt 26.8 0.5% (212.4) (4.1%) +239.2 (112.6%) Net financial debts 2,585.6 47.6% 2,523.0 48.3% +62.6 +2.5% Net invested capital 5,432.3 100.0% 5,229.0 100.0% +203.3 +3.9% Self-assessment of the Board of Statutory Auditors It should be noted that today the Board of Directors has taken note of the self-assessment report of the Board of Statutory Auditors of Hera S.p.A. that has carried out, according to the current legislation, its own self-assessment, based on the analysis of the suitability of its own members and the proper composition of the body. The Board has ascertained in particular that its members meet the requirements of professionalism, competence, integrity and experience. Results at 31/12/2018 Press release as at 31 December 2018 2019-03-25 13:01:43 be_110x150.1553681463.png

2019-03-18 As of today, Monday 18 March, the multi-utility is part of the index comprising the 40 largest companies listed on the Italian stock exchange. Calendar of events Hera has been included, as of today, Monday 18 March, in the FTSE MIB, the main index of Borsa Italiana, which comprises the 40 largest stocks listed on the Italian stock exchange in terms of capitalisation, liquidity and trading volume. Hera, one of Italy's leading multi-utilities, has become part of this index based on the amount of free-float capitalisation and the value of shares traded over the last six months (+52% compared to the 2018 average). This achievement was made possible by Hera's path of uninterrupted growth, which began 16 years ago and is based on a multi-business model that combines internal and external growth and shows a mix of activities offering resilience towards the main macro-variables seen in its reference scenario. The new Business plan to 2022 shows further prospects for growth in Ebitda (+200 million euro in the period from 2018 to 2022), sustained by 3.1 billion in investments (of which 1.1 going towards development). Increases in cash generation will also ensure the Group's ability to maintain its financial soundness (with the 2022 target for the net debt/Ebitda ratio coming to 2.9). The Plan also confirms the importance of creating value for shareholders, with a dividend policy aimed at paying 11 cents per share in 2022 (compared to the 9.5 cents paid in 2018). 20190318_comunicato_Hera_in_FTSE_MIB_eng.1553093323.pdf 2017-01-26 09:00:00 Related contents Hera Group included in the 2020 Bloomberg Gender-Equality Index

2019-02-26 Formal procedures were completed today aimed at integrating Inrete and CMV Servizi's natural gas distribution services, and Hera Comm and CMV Energia e Impianti's energy sales activities. A specific notice with all relevant updates will be included in the bills sent to CMV's energy customers. CMV Servizi and CMV Energia e Impianti's energy activities part of the Hera Group as of 1 March Formal procedures were completed today aimed at integrating Inrete and CMV Servizi's natural gas distribution services, and Hera Comm and CMV Energia e Impianti's energy sales activities. A specific notice with all relevant updates will be included in the bills sent to CMV's energy customers. Following approval by the respective Shareholders Meetings on 20 December 2018, an operation was formalised today calling for the energy activities carried out by CMV Servizi, including the subsidiary A Tutta Rete (ATR), and CMV Energia e Impianti, to be integrated within the Hera Group, with natural gas distribution going to Inrete Distribuzione Energia and Hera Comm becoming responsible for energy sales. The integration within the Hera Group, in effect as of 1 March 2019, concerns roughly 30,000 delivery points (26,500 in the Ferrara area and over 3,100 in the Bologna area) for natural gas distribution and approximately 25,000 customers (21,300 gas and 3,500 electricity). The latter will receive a notice along with their bills, welcoming them and explaining all relevant updates. In particular, the Customer Service number 800 688 690 will continue to be available to CMV's energy customers and the current help desks will be maintained, including the one located in Viale Cavour in the historical centre of Ferrara, recently renovated and already integrated within the Hera Group's services. As of 1 March, all those accessing CMV's website will be automatically redirected to new, dedicated pages. In addition to maintaining local service points and the personnel currently employed in the two branches of activity, CMV Servizi and CMV Energia e Impianti, with a convergence towards the multi-utility's other activities in the same area, the Hera Group's offers and policies will be applied, to the advantage of quality and innovation in customer service. 20190226_integrazione_energy_CMV_eng.1551256803.pdf 2019-02-27 11:40:00 CMV Servizi and CMV Energia e Impianti's energy activities part of the Hera Group as of 1 March

2019-01-28 Calendar of events CALENDAR OF CORPORATE EVENTS (*) In accordance with art. 2.6.2 (Required Reporting) of the "Rules of the markets organised and managed by Borsa Italiana S.p.A.", please find below our annual calendar of corporate events: 27 March 2019 - Meeting of the Board of Directors to approve the previous year's preliminary financial statements. 30 April 2019 - Shareholders Meeting to approve the previous year's financial statements. 15 May 2019 - Meeting of the Board of Directors to approve additional financial information for the period ending on 31 March 2019. 30 July 2019 - Meeting of the Board of Directors to approve the half-year financial report as at 30 June 2019. 13 November 2019 - Meeting of the Board of Directors to approve additional financial information for the period ending on 30 September 2019. The Board of Directors, as communicated for the previous financial year and in line with the past, in order to guarantee regularity in the information provided to the financial market and investors, has decided to continue preparing and publishing this information quarterly, on a voluntary basis and in line with current regulations. (*) barring changes 20190128_Gruppo_Hera_calendario_eventi_societari_ENG.1548674495.pdf 2017-01-26 11:45:00 Related contents Calendar of events

2019-01-10 Based on solid forecast for 2018, which significantly exceeded the goal of one billion in Ebitda, this new strategic plan confirms the path of uninterrupted growth achieved by the Group since 2002. The focus on investments and innovation will guarantee a place at the forefront of its evolving services, further improving resilience and rising to the challenges of the sector. Efficiency and increased attention towards investment allocation, including a higher level of sustainability, will favour internal growth, with financial solidity fuelling external growth. Hera Group approves Business Plan to 2022 Operating and financial highlights 2022 Ebitda: 1,185 million euro (+200 million over 2017 Ebitda) Overall industrial and financial investments: over 3.1 billion euro (+9% over the investments foreseen by the previous Business Plan) Net debt/Ebitda ratio to remain below 3 Further increases expected in dividends, reaching 11 cents per share in 2022 (+16% over the last dividend paid) Business highlights Business strategy once again based on 5 priorities: growth, efficiency, excellence, innovation and agility, all reworked and enhanced to meet the challenges involved in Ecosystems, Circularity and Technology Development driven by a balanced mix of internal and external (M&A) growth Confirmation of tenders currently awarded for gas distribution and urban waste management Goal of reaching over 3 million energy customers by 2022, thanks to leadership in last resort services, the end of the protected market and actions taken towards commercial growth Shared Value coming to over 470 million euro Preliminary consolidated 2018 Ebitda at roughly 1,020 million and a plan geared towards growth This morning the Hera Group's Board of Directors, which met to discuss the Business Plan to 2022, also examined the forecast of consolidated results for 2018, with year-end Ebitda reaching 1.02 billion euro, up 3.6% over the 984.6 million seen at 31 December 2017 and higher than expected by the previous business plan. The net debt/Ebitda ratio settled at roughly 2.54x, in line with the previous year. On the solid basis of this achievement and the results previously reached, which reflect an uninterrupted path of growth lasting 16 years, the Board approved the new Plan to 2022, which shows a strong commitment towards the Group's further development in the industry, in spite of an increasingly complex scenario. A deeply changing scenario The macro-economic scenario now appears to be less favourable than in the past (with interest rates rising and an economic outlook less positive than during the previous year), and yet this should not significantly influence the Group's prospects, thanks to the breakdown of its service portfolio, the changes introduced in its business models in recent years and its large degree of regulated activities. The upcoming years will witness many important events, perhaps most decisively the process, already underway, involving tenders in gas distribution, which is expected to lead to a significant rationalisation in the number of operators. In the waste collection sector as well, the five years covered by the Plan are expected to see the beginning of tenders for service concessions that have already expired or will do so in the near future. Regulatory changes for customer segments in protected services are also foreseen, intended to promote an additional increase in the added value of services offered and higher competition on the marketplace. Mention must also go to continued progress towards consolidation in multi-utility sectors, energy sales and waste treatment services, which are still among the most fragmentary in Europe. Investments amounting to over 3.1 billion euro, financial solidity confirmed In light of the opportunities offered by the scenario, the new Plan to 2022 foresees investments coming to over 3.1 billion euro, up roughly 260 million over the previous strategic document. Three quarters of these investments will be concentrated in regulated activities: approximately 70% will continue to be dedicated to the network system and roughly 6% to urban waste collection. Significant interventions in infrastructure modernisation and development will be deployed, confirming the Group's commitment to investing in its reference areas and thus offering increasingly innovative, resilient and high-quality services. Investments intended for tenders for gas distribution have thus been confirmed, in order to maintain the major tenders currently managed. Overall, considering the expansion in plants, gas tenders and M&As, roughly 1.1 billion in investments will be dedicated to supporting development in these activities over the next five years. This investment plan is financially sustainable thanks to an increasing cash generation, able to cover investments and pay dividends. The ratio between net financial debt and Ebitda is expected to settle at 2.9 by 2022, in line with the figure seen in the previous plan. Without including the effect of tenders, financial balance will remain similar to the present, guaranteeing sufficient leeway to be able to grasp any possible opportunities for growth not included in the Plan, without harming the Group's financial solidity. A strategy aimed at grasping opportunities, with a focus on Shared Value as an additional source of competitive advantages The Group's strategy is focused on Ecosystems, Circularity and Technology, achieved by activating its time-tested principles of efficiency, excellence, growth, innovation and agility, in addition to creating coherent projects that guarantee the full implementation of the Business Plan. Always giving close attention to issues regarding sustainability, the Group has recently defined some lines of development intended to pursue the goals on the UN Agenda which apply to the activities carried out by this multi-utility (covering at least 10 of the 17 goals indicated). Almost 3/4 of the growth expected over the five years covered by the Plan will thus be sustained by projects introduced in order to respond to this "call to action", thus bringing the amount of shared value Ebitda to exceed 470 million euro by 2022 (corresponding to 40% of overall Ebitda). Ebitda targets growing, balanced among the various business areas, between regulated and free market activities and between internal and external growth Matching the investments implemented over the next five years, 2022 Ebitda is expected to reach 1,185 million euro, with an over 200 million increase compared to the 984.6 million recorded in 2017 and with an average annual increase of roughly 40 million over the period of time covered by the Plan. All areas of activity (networks, waste management, energy and other services such as telecommunications and public lighting) will contribute to this growth, with the Group's usual balance between income from regulated and free market activities, as well as between internal and external growth. Thanks to higher levels of efficiency and ever more substantial investments, the overall contribution to the increase in Ebitda coming from internal growth is expected to reach 120 million over the period of time covered by the Plan (130 million, taking into account 10 million due to lower incentives), while an 80 million increase in Ebitda is expected from external growth. These goals are in line with the five-year growth of the previous Plan and that benefit from the already consolidated outperformance linked to the trends seen in 2018 and the outcome of tenders for last resort markets, in which Hera has become the leader in all segments. Value for shareholders to increase, with a bold dividend policy The Plan confirms the Group's attention towards the creation of value and transparency in dividend policies, which have become more challenging than in the past and compared to the content of the previous Business Plan. The dividend established, which had already risen to 9.5 cents per share in 2017, will indeed reach 10 cents per share in 2018 and 2019, 10.5 in 2020 and 2021 and 11 in 2022 (+16% over the most recent dividend payment), with a 0.5 cent increase every 2 years. Networks: efficiency and resilience intended to tackle climate change; innovation and excellence to become a leading figure in a smart economy Most of the growth foreseen by the Plan is expected to come from the networks area: Ebitda related to electricity and gas distribution, the water cycle and district heating will increase from the 424 million euro seen in 2017 to 581 million in 2022, thus making up roughly half of the Group's overall Ebitda. Many initiatives have been introduced to make networks increasingly "smart", boosting their efficiency, circularity and resilience as well as contributing to their ability to meet the growing challenges coming from climate change and the environment. These projects include a large-scale installation of "smart" meters, understood as factors able to promote the evolution towards smart cities. One example lies in the new and evolved functions shown by the last-generation gas meters developed by the Group in a partnership with Panasonic, which will allow the service to be constantly monitored and increase safety in case of leaks, earthquakes or network disruptions. In electricity distribution, network upgrading is expected to benefit the continuity of this service, by constructing new primary transformer rooms and carrying out targeted interventions on secondary transformer rooms, also involving network automation and digitalisation to support on-field interventions by personnel. District heating will play a significant role in decarbonising the area, since over 70% of the heat produced over the duration of the Plan will be generated from renewable and comparable sources. As regards the gas area, an opportunity for expansion lies in the tenders to be awarded for grants in gas services; after countless postponements, this should take place within 2022, beginning as of the current year, in all geographical areas in which the contracting authorities have already defined the networks' VIR (residual industrial value). In this sector, the Hera Group aims at growth mainly by confirming the areas already served, thanks to investments amounting to roughly 470 million. In the water area, lastly, the focus will go to protecting this resource, by upgrading the search for leakage and developing the districtualization of the network, also including innovative projects in water management to promote, both inside and outside the company, increasing sustainability and awareness regarding the use of water. Special attention will go to the reuse of purified water, already implemented with excellent results in the Bologna area and currently being extended to other zones. Consolidating leadership in the waste management sector, by enhancing resource protection and maximising reuse Ebitda in the waste management area is expected to grow from the 246 million euro seen in 2017 to almost 300 million in 2022. The goal set for this area is to be confirmed at the forefront as an operator in the integrated waste cycle, offering concrete solutions for businesses and citizens. Protecting environmental resources will remain a top goal, as will maximising their reuse. Special attention will continue to go to promoting sorted waste, expected to rise from 57.7% in 2017 to over 73% in 2022 and to see qualitative improvement as well, through specific communication campaigns and initiatives designed to get citizens involved. Unit pricing should provide citizens with an incentive to improve the quality of their sorted waste as well, as has been demonstrated by the excellent results, exceeding expectations, reached in a few municipalities where it has already been introduced (attaining over 85% of SW in a local capital such as Ferrara and peaks of close to or over 90% in some municipalities in the Modena area). In waste treatment and recovery, the Herambiente Group will be able to consolidate its national leadership by offering complete and integrated commercial packages. The latter consist in solutions for large industrial clients, including waste and energy services as well as purification and through an avant-garde group of plants able to offer solutions supporting a circular economy. These range from the biomethane production plant recently opened in the Bologna area, to reinforcing Aliplast's outstanding capabilities in plastic recycling, creating new business opportunities, and lastly launching important partnerships, such as the ones with Eni in biofuel and Bio-on in developing new natural and 100% biodegradable plastic materials. Collecting and analysing data coming from on-field infrastructures (bins, vehicles, etc.) and WTE plants will allow all activities to be optimised, automating processes and reducing costs. Energy: over 3 million customers, thanks to customer experience and new "sustainable" solutions Ebitda for the energy area will settle at 268 million in 2022, showing a slight growth over the objective set in the previous strategic document. The challenging goal the Group has set for itself is to reach over 3 million customers by the end of the period covered by the Plan, confirming its place among the sector's leaders with a more substantial and loyal customer base, thanks to positive results in customer experience and new solutions geared towards savings and respect for the environment. In addition to internal growth in the customer base and the hypothesis of additional development along the Adriatic coast, the Group can rely on an excellent result that saw it confirmed, in recent months, as a leading player in last resort services in the energy market. One significant opportunity to reinforce the customer base will come from the end of the protected market (i.e. maggior tutela), which according to Hera's estimates will lead it to gain at least 500,000 customers. Commercial development will depend on offers bringing added value, from those in support of smart homes (smart thermostats, remote sensors, etc.) to combinations of insurance and maintenance products, or again services involving energy efficiency or electric mobility. The country's objectives in energy efficiency themselves provide an opportunity to develop the Group's energy services through its specialised companies, able to offer solutions tailored for public administrations, apartment buildings and industrial clients. The Group will furthermore give increasing attention to customer experience, turning to process and payment digitalisation to meet the needs of customers who are ever more "online", as well as adopting efficient systems for data management and analysis, to guarantee an excellent service and accelerate the "time to market". Applying behavioural science, combined with precise interventions (such as reporting consumption in bills), will lastly allow an increasingly efficient use of energy to be promoted. Tomaso Tommasi di Vignano, Hera Executive Chairman The growth we have foreseen over the duration of the Plan is entirely visible, considering our track record. Our investment program is significant, increasing by 260 million, and the rise in cash generation will allow the Net debt/Ebitda ratio to be maintained at 2.9x, as had been predicted for the end of the period covered by the previous plan. We have confirmed our strong attention towards creating value for shareholders and a transparent dividend payment policy, year by year. This solidity and visibility is also guaranteed by the prospects offered by the external scenario (M&As, protected services and gas tenders) and taken into account in the Plan, based on a conservative estimate which consists in maintaining current market shares. Stefano Venier, Hera CEO In a five-year period that will see a remarkable expansion in our plant facilities, a new phase is taking shape, with important events on the horizon in almost all our businesses. The Plan's premise lies in affirming our leadership in services for our reference area and continuing in technological evolution, in order to persist in increasing regeneration in management models for activities and their resilience. Our risk/return tradeoff will improve thanks to a significant development in regulated activities, complemented by trends in free market activities. The Business Plan has been built around globally relevant issues, since we are perfectly aware of our role in enabling circular smart cities, but also the need to adequately respond to the new needs of our customers and the local ecosystem, brought about by digital evolution and environmental challenges. GH_press_release_business_plan_2022.1547121232.pdf 2019-01-07 14:01:17 Hera Group approves Business Plan to 2022

2018-12-20 Following up on the steps taken during the past few weeks in all Town Councils involved, the project aimed at integrating natural gas distribution between Inrete and CMV Servizi, as well as energy sales between Hera Comm and CMV Energia e Impianti, was approved today by the respective Shareholders Meetings. Hera Group: CMV Servizi and CMV Energia e Impianti Following up on the steps taken during the past few weeks in all Town Councils involved, the project aimed at integrating natural gas distribution between Inrete and CMV Servizi, as well as energy sales between Hera Comm and CMV Energia e Impianti, was approved today by the respective Shareholders Meetings. After the go-ahead given by the Boards of Directors on 24 October and the following phases completed in the Town Councils involved, today the Shareholders Meetings of the companies involved approved the project aimed at integrating the energy activities carried out by CMV Servizi and CMV Energia e Impianti into the Hera Group, respectively becoming part of Inrete Distribuzione Energia for natural gas distribution and Hera Comm for energy sales. Following the operation, which will allow a solid industrial project to be developed in the area surrounding Ferrara, the Municipality Shareholders of CMV Servizi and CMV Energia e Impianti, including the majority shareholder Municipality of Cento and the Municipalities of Vigarano Mainarda, Bondeno, Poggio Renatico, Terre del Reno and Goro, will increase their shareholding in the Hera Group. The integration concerns roughly 25,000 customers (21,300 in gas and 3,500 in electricity) and approximately 30,000 delivery points (26,500 in the Ferrara area and over 3,100 in the Bologna area) for natural gas distribution. The personnel currently employed in the two branches of operations carried out by CMV Servizi e CMV Energia e Impianti is expected to be maintained, as are the local service points, which will come together with other Hera Group activities in the same area. The integrated activities will be able to take advantage of Group solutions and policies, benefitting the quality and innovativeness of the services offered to customers. "The Ferrara area is one to which we are historically tied, and this double operation allows us to consolidate our presence here, following a rationale of valorising services that gives centre stage to the customers and communities concerned, creating efficiency and maintaining our local presence" states Stefano Venier, CEO of the Hera Group. "The actual integration of the companies involved will become operational within the first quarter of 2019. Our objective is to extend to the province of Ferrara a business model that, over time, has amply demonstrated the advantages it brings to all those participating, whether public or private." "I am particularly satisfied with the excellent outcome of the operation, and would like to thank all those who made efforts towards it, as well as Hera, for its precious collaboration" states the Mayor of Cento, Fabrizio Toselli. "Unquestionably strategic for our companies, it will allow them to become more balanced, and will guarantee the continuity provided by an industrial project, for the Local Administration, which among other things will free up a 6 million euro surplus for 2019. This will allow us to lower our debt (in loans) and implement significant investments for the entire area, in terms of employment, services, local presence and spin-offs. The path undertaken will now continue with the merger of Cmv Energia & Impianti into Area Impianti, as defined since the birth of Clara." 20181220_Gruppo_Hera_su_integrazione_attivita_energy_CMV_eng.1545991863.pdf 2018-12-20 16:50:00 CMV Servizi and CMV Energia e Impianti's energy activities part of the Hera Group as of 1 March

2018-12-10 Newco Lux-on created by Bio-on, alongside Gruppo Hera, to develop a revolutionary technology to produce biopolymers from CO2 (carbon dioxide). Newco Lux-on created by Bio-on, alongside Gruppo Hera, to develop a revolutionary technology to produce biopolymers from CO2 (carbon dioxide). Following 2 years of research by Bio-on scientists working in Italy and USA, the new technology uses CO2 freely available in the atmosphere as a carbon source to produce 100% natural and biodegradable bioplastic. CO2 is added to the other "raw materials" already used to make Bio-on bioplastic: sugar beet and sugar cane molasses, fruit and potato waste, carbohydrates, glycerol and waste frying oil. Using CO2 will also help reduce the amount of carbon dioxide in the atmosphere. Lux-on's bioplastic production will rely solely on renewable solar energy and, thanks to a hydrogen energy management system, will run 24/7. Bio-on, a leader in the high quality bioplastic sector, and Gruppo Hera, one of Italy's largest multi-utility providers, have reached an agreement to take 90% and 10% shares respectively (with the possibility of Hera increasing its share to 49.9%) in LUX-ON, the new company founded by Bio-on aiming to revolutionise the production of PHAs biopolymers using CO2 captured from the atmosphere and producing energy without using fossil fuels. The new technology developed by Bio-on envisages using carbon dioxide as a zero cost "raw material", in addition to those already used to produce Bio-on bioplastic: sugar beet and sugar cane molasses, fruit and potato waste, carbohydrates, glycerol and waste frying oil. Using CO2 will also help reduce the amount of carbon dioxide in the atmosphere. The laboratories and first plant of the new Lux-on project will be built by the end of 2019 close to the Bio-on Plants industrial facility at Castel San Pietro Terme (Bologna). It will be designed entirely by Bio-on technicians in collaboration with Hera, with carbon capture plants and a production facility using renewable solar energy. The development of the technology will be aided by the fact that many of the principles and equipment used in the standard technology can also be used in Lux-on's new production systems. This is why the development and pre-industrial phase will be much faster than usual. The plant will occupy an area of 1,500 m2, 600 m2 of which is covered, and will have a flexible production capacity that is rapidly expandable. The electric energy used in Lux-on's innovative production process will be produced by photovoltaic systems which, aside from directly powering production, will also provide storable energy for nocturnal power (24/7 production). For energy storage, partnerships will be entered into with international experts in hydrogen (H) technology. Hydrogen, a nonpolluting gas, will be produced from solar energy, stored and then converted to electric energy to power the plant hen the solar panels are not running, i.e. at night or when light levels are poor. "We are extremely pleased to work with HERA," explains Bio-on S.p.A. Chairman and CEO Marco Astorri. "The great technological innovation used at Lux-on enables us to increase the industrial sustainability of a new production concept. We are particularly proud to realise humanity's dream to capture CO2 from the atmosphere and produce innovative materials like our PHAs biopolymer. We are ready to face this new challenge, which will further extend our client base in the coming years, consolidating Italy's global leadership in high quality biopolymer production." Following a year of major agreements, fast-growing company Bio-on, is set to begin 2019 with new strategic projects,including its collaboration with Hera. The agreement also envisages a second development line aimed at identifying sustainable by-products for biopolymer production. Renamed PHA-CEL by Hera, this consists in transforming cutting and pruning cellulose into simple sugars that can then be used in fermentation following an enzymatic treatment. This process is made possible by the treatment technology, developed by Gruppo Hera, which is also assessing how to apply it to biogas and biomethane production from cuttings and prunings. All the PHAs (polyhydroxyalkanoates) developed by Bio-on are made from renewable plant sources with no competition with food supply chains, and from CO2 in the coming years. They can replace a number of conventional polymers currently made with petrochemical processes using hydrocarbons; they guarantee the same thermomechanical properties as conventional plastics with the advantage of being completely eco-sustainable and 100% naturally biodegradable. The agreement between the two companies has come out of a highly dynamic territory that represents the technological cutting edge in Italy to be exported around the world. "For Gruppo Hera, which uses innovation and sustainability as the foundations of its multi-utility business," explained Tomaso Tommasi di Vignano, Executive President of Gruppo Hera, "taking a share in the new company founded by Bio-on is the representation of a natural coming together of intentions and an alliance that we believe can be developed successfully beyond our territory and across various sectors. With the breadth and quality of our services, this agreement will give further, fundamental green credentials to a project like Lux-on, which aims to change the bioplastics world, not to mention the joint commitment to transform cuttings and prunings. Considering that Hera collects 200 thousand tons of cuttings and prunings every year, which can be transformed into bioplastic using our technology, this sector has huge growth potential." Further technical information is available in a video at: www.lux-on.com Gruppo Hera It is one of Italy's largest multi-utility providers working in Environment (waste collection and treatment), Energy (electricity and gas distribution and sale) and Water (waterworks, sewers and purification). The Group employs over 9,000 people and works every day to meet the many and varied needs of over 4.4 million citizens. It serves over 350 local municipalities mainly in the Emilia Romagna, Marche, Tuscany, Abruzzo, Veneto and Friuli Venezia Giulia regions. Bio-on S.p.A. Bio-on S.p.A., an Italian Intellectual Property Company (IPC), operates in the bioplastic sector conducting applied research and development of modern bio-fermentation technologies in the field of eco-sustainable and completely naturally biodegradable materials. In particular, Bio-on develops industrial applications through the creation of product characterisations, components and plastic items. Since February 2015, Bio-on S.p.A. has also been operating in the development of natural and sustainable chemicals for the future. Bio-on has developed an exclusive process for the production of a family of polymers called PHAs (polyhydroxyalkanoates) from agricultural waste (including molasses and sugar cane and sugar beet syrups). The bioplastic produced in this way is able to replace the main families of conventional plastics in terms of performance, thermo-mechanical properties and versatility. Bio-on PHAs is a bioplastic that can be classified as 100% natural and completely biodegradable: this has been certified by Vincotte and by USDA (United States Department of Agriculture). The Issuer's strategy envisages the marketing of licenses for PHAs production and related ancillary services, the development of R&D (also through new collaborations with universities, research centres and industrial partners), as well as the realisation of industrial plants designed by Bio-on. CS_69_BIO_ON_10_12_2018_final_E.1544431372.pdf 2018-12-10 08:00:12 lux_on_110x150.1544432143.jpg

2018-12-07 The tender, worth 28.5 million euro, was awarded to a temporary association headed by the Hera Group, Italy's leader in waste treatment. Work will begin in 2019 and will lead to an overall redevelopment of the port area, with new quays constructed using inert materials deriving from reclaimed areas previously containing landfills. The tender, worth 28.5 million euro, was awarded to a temporary association headed by the Hera Group, Italy's leader in waste treatment. Work will begin in 2019 and will lead to an overall redevelopment of the port area, with new quays constructed using inert materials deriving from reclaimed areas previously containing landfills. Undertaking significant reclamation works in the Chioggia port area, redeveloping it and thus bringing it back to life. This is the commitment that brought a temporary association of businesses led by Herambiente, a Hera Group company and the country's foremost operator in the waste treatment sector, to be awarded a public tender for the reclamation of strategic areas linked to this important seaport. The tender, amounting to 28.5 million euro, was announced by A.S.Po, Azienda Speciale del Porto di Chioggia, owned by the Venice-Rovigo Chamber of Commerce. The technical partners included in the temporary association are CGX Costruzioni Generali Xodo Srl, Idea Srl and Rossi Renzo Costruzioni Srl, all companies located in the Veneto region. The tender contract, which launches the works, was signed this morning by Damaso Zanardo, chairman of A.S.Po, and Andrea Ramonda, Herambiente CEO. More specifically, the works will begin in 2019 and will involve a general redevelopment of some areas of the fluvial-maritime terminal in Val da Rio di Chioggia. On the one hand, an area of 6 hectares will be reclaimed, which from 1961 to 1984 had been used as a landfill for solid waste produced in the municipality of Chioggia. This operation is strategic for the entire area, since the tender, in line with the principles of a circular economy and the many senses in which the Hera Group works towards it, also calls for inert materials to be recovered. Coming to 80% of the total waste, these materials will be used to create some of the port's quays, thus increasing the project's overall sustainability. In this way, all of Herambiente's know-how regarding reclamation is made available to the Chioggia area, this being a field in which the company belonging to the Hera Group can boast a large amount of experience and extremely high quality and safety standards. Its research, analyses and projects allow the parameters of each and every intervention to be clearly defined. Herambiente's reclamation department, from this point of view, offers an integrated service that in every phase of the process guarantees full respect for the environment, for current regulations and, to be sure, for the basic principles of a circular economy. "To reclaim an area", explains Tomaso Tommasi di Vignano, Executive Chairman of the Hera Group, "a significant amount of knowledge, resources and professional skills is required. Acting through Herambiente, we are proud to be able put all of this to the service of Chioggia. Our goal is to work towards an overall redevelopment of the port area, taking one specific step at a time, as defined by in-depth studies of the context in which we are about to operate. Moreover, the Adriatic coastline is an area we prize highly and on which we have done a great deal of work, not only in the Veneto region but also in Emilia-Romagna and Friuli Venezia Giulia. The experience we have accumulated will allow us to apply to Chioggia as well a model that is able to guarantee a high degree of efficiency and environmental and economic sustainability." "The deal signed, intensely pursued by the Board, is fundamental in giving new impetus to the Chioggia seaport as a Commercial, Fluvial, Maritime and Tourist Port", comments Damaso Zanardo, chairman of A.S.Po Chioggia. "It will give continuity to the marketing initiatives we have launched in the last few months, demonstrating both how attractive this port is and that a few initial, concrete signs can now be seen that the international economic crisis is being overcome. The professional skills possessed by a group such as Hera, Italy's leader in waste treatment, guarantees that the operation will be carried out with high levels of quality, efficiency and environmental sustainability". CS_69_BIO_ON_10_12_2018_final_E.1544517804.PDF 2018-12-07 12:28:00 Herambiente si aggiudica la bonifica del porto di Chioggia

2018-11-26 Nuova_Palazzina_1_870x.1533219432.jpg The remaining 51% of the company, headquartered in Atessa (Chieti) and providing natural gas sales to approximately 7,000 customers, has now been purchased. The transaction, completed under the same terms as the first stage of the acquisition as finalised last March, allows the Group to further consolidate its presence and local roots in Abruzzo. Hera Group acquires 100% of Sangroservizi The Hera Group, through its subsidiary Hera Comm, has acquired the remaining 51% of Sangroservizi form the Municipalities of Atessa, San Vito Chietino and Paglieta, reaching a 100% shareholding. The transaction was carried out under the same terms as the first stage of the acquisition, completed on 20 March 2018. Established in 2003 and legally headquartered in Atessa, Sangroservizi is a company operating in natural gas sales with roughly 7,000 customers. This transaction follows up on the acquisitions of Fucino Gas, Alento Gas, Julia Servizi Più, Gran Sasso,Verducci Servizi, Enerpeligna and Blu Ranton over the last three years, thanks to which the Hera Group has become a reference operator for the Abruzzo and nearby Marche regions. The company already provides electricity and gas services to over 250,000 customers in these areas. Hera thus continues to develop a model that brings the local, material presence typical of smaller companies together with the potential for innovation in services and offers and the competitiveness ensuing from being part of a Group that is among the major players in Italy's energy market. "We are glad to welcome Sagroservizi's customers, confirming our commitment to a maintained presence in this area", remarks Cristian Fabbri, Hera Comm CEO. "In the upcoming months, we will gradually introduce numerous new services and new offers for gas. Furthermore, it will become possible quite soon to choose offers for electricity supply and services aimed at saving energy and optimising energy and gas management. We are at work every day to offer a service ever more closely tailored to the needs of our most demanding customers". Hera Group acquires 100% of Sangroservizi 20181126_comunicato_su_acquisizione_Sangroservizi_ok_eng.1543238511.pdf 2018-03-09 12:48:00 Read more Hera acquires 2.5% of Ascopiave's share capital from Amber

2018-11-23 This partnership will allow the oil collected by Hera (800 tons in 2017) to be converted into Eni Green Diesel at Eni's Venice bio-refinery. The environmental benefits are significant, with a reduction of up to 40% in polluting emissions. Bologna, 23 November 2018 - Eni and Hera are two companies that have long been committed to promoting a circular economy model by continuously developing the technology and organization of their businesses. Today they signed a partnership agreement with the aim of converting used vegetable oil into biofuel for Hera's waste collection vehicles. The agreement revolves around household waste vegetable oil, such as that used for frying, collected by Hera in around 400 roadside containers and about 120 collection centres. It will be sent to the Eni bio-refinery in Porto Marghera, Venice. This is the first oil refinery in the world to be converted into a bio-refinery for the production of Green Diesel, a completely renewable product that accounts for 15% of Enidiesel+. This biofuel will power Hera's urban waste collection vehicles. During an initial phase, Enidiesel+ will be used by around thirty large vehicles in the Modena area to test and optimise the fuel's environmental benefits. The deal signed today extends the already thriving virtuous circle Eni has established with multi-utility companies in Turin, Venice and Rome. Results from tests have shown major benefits in terms of air quality, the economy and industry. Compared to conventional diesel, Enidiesel+ features a renewable component that reduces polluting emissions by up to 40%, consumption by about 4% and engine maintenance costs. These metrics be monitored by both companies in collaboration with the Institute for Engines (Istituto Motori) at the National Research Council of Italy (CNR). To further support of the initiative, Hera has decided to boost the roadside collection of vegetable oil by introducing 300 new dedicated containers in the areas in which it operates. In 2017 alone, 800 tons of waste vegetable oil were collected, recovered and processed for use either as lubricants or energy. This service is increasingly comprehensive. It also provides an incentive to properly recycle waste oil and also works to prevent behaviour such as pouring oil down the sink, which damages household plumbing and water treatment plants. "The refinery in Venice is the first in the world to be converted into a bio-refinery and will be joined in a few months by the Gela refinery, which is also being calibrated for the bio-cycle," commented Giuseppe Ricci, Eni Chief Refining & Marketing Officer. "Eni has begun the journey towards an energy transition that envisages an increasingly important role for biofuels in the process of decarbonising our planet. The agreement with Hera adds a significant component to our concrete commitment to the circular economy and reinforces the use of waste, specifically cooking oil, as an important raw material for producing the innovative fuel Enidiesel+ and as a replacement for the edible raw materials that are currently used. As a result of the initiatives and deals that Eni has developed following the agreement with CONOE (National Consortium for the Collection and Treatment of Used Oils and Fats) and its individual members, more than 50% of the cooking oil collected in Italy is now converted into biofuel at the Venice bio-refinery, with clear benefits for the environment and the economy." "An economic model is truly circular if it addresses the entire life cycle of resources, with genuine partnerships among the businesses involved and residents. It would go beyond merely managing the final stage of collecting waste that perhaps has been delivered to third parties," explained Stefano Venier, Chief Executive Officer of the Hera Group. "Hera is therefore committed not only to extending the life cycle of materials through recycling and reuse initiatives, but also to developing solutions and plants that can turn substances into new products or draw energy from them, especially within the bio-based supply chain. Our agreement with Eni continues in this direction. It has identified a new way in which we can use waste resources to contribute to decarbonisation and energy efficiency. Waste oil that becomes advanced biofuel with a reduced carbon footprint and is reused for waste collection is a perfect example of the circular economy, one that adds to the progress of the many initiatives we've already launched in this area." ENG_Eni_Hera_23_November_2018.1542978261.pdf 2018-11-23 13:00:00 Hera Spa

2018-11-08 Results as at 30 September 2018 Consolidated 3Q results at 30 September confirm the growth in operating and financial indicators already seen in the first half of the year, with positive contributions coming from the different Group's business areas, gas and waste management in particular. /documents/1514726/4667212/GruppoHera_Consolidated_ThirdQuarterReport30September2018_eng.1541672459.pdf/4efd185a-8a09-4b8c-a66a-ef1134973617?t=1608550214672 /documents/1514726/4880892/GruppoHera_AnalystPresentation_3Q2018.1541667701.pdf/80211312-b744-bbd1-67b4-f34d827d274e?t=1610019123913 http://investornews.gruppohera.it/en/?n=57 https://eng.gruppohera.it/documents/1514726/4210710/Dati_finanziari_ed_operativi_di_sintesi_9M_2018_eng.1541601540.xls/d1d59596-0dd4-d19b-53fb-9b1dd18b0f90?t=1597907689072 /group_eng/investor-relations/results-and-presentations/interactive-data Financial report as at 30 September 2018 Analyst presentation: Results as at 30 September 2018 Newsletter 3Q 2018 Financial data: Results as at 30 September 2018 Interactive data Financial highlights Revenues at € 4,348.4 million (+8.0%) Ebitda at € 748.6 million (+3.3%) Net profits for Shareholders at € 208.7 million (+14.1%) Net debt at € 2,642.0 million Operating highlights Good contribution to growth coming from all businesses and gas in particular Good results achieved through internal growth Solid customer base in Energy (approximately 2.5 million), rising by approximately 100,000 over the first three quarters of 2017 Sorted waste increases to an average of 61.4% across all areas served Today, the Hera Group’s Board of Directors unanimously approved the consolidated financial results at30 September 2018, which confirm the positive trend in operating results seen in previous quarters and show further improvement in financial and fiscal management. These results once again reward the Group’s balanced and agile way of operating, following a business model that has always combined the strategic levers of internal and external growth. In addition to remarkable internal growth, partially deriving from higher efficiencies, developments in market shares and an increase in volumes sold in the energy sector both contributed to the accounts for the first three quarters of 2018. Revenues rise to € 4,348.4 million In the first nine months of 2018, revenues amounted to € 4,348.4 million, up 8% over the € 4,027.8 million seen at 30 September 2017, with a contribution coming from all business areas. In particular, trends in gas and electricity trading and sales benefitted from an increase in volumes. Ebitda increases to € 748.6 million The Group’s consolidated Ebitda at 30 September 2018 grew from € 724.7 to € 748.6 million (+3.3%). This result is due to the good performance seen in all main activities, and the gas sector in particular, whose contribution included rising earnings derived from sales and trading. Positive results were also seen in the integrated water cycle and waste management areas. Ebit and pre-tax profits grow, owing in part to financial management Ebit grew to € 376.5 million, up compared to the € 357.9 seen at 30 September 2017 (+5.2%), while pre-tax profits rose to € 311.0 million, as against the € 283.5 seen at the same date in 2017 (+9.7%). This was due to financial management, which in the first nine months of 2018 improved by € 8.9 million compared to 30 September 2017, settling at € 65.5 million, with aperformance partly made possible by efficiency in rates and higher financial income for commercial activities. Net profits for Shareholders increase to € 208.7 million (+14.1%) Profits pertaining to Group Shareholders rose to € 208.7 million, compared to the € 182.9 million recorded at 30 September 2017 (+14.1%), for reasons including a tax rate coming to 30.1%, an improvement over the 32% seen in the same period of the previous year. The considerable investments made by the Group in Utility 4.0 projects allowed fiscal optimisation opportunities to be grasped, thanks to incentives for large and very large amortisations. Approximately € 300 million in investments, and an essentially stable financial position The Group’s operating investments at 30 September 2018, including capital grants, amounted to € 296.6 million, up 7.0% over the same period in 2017 and in line with the content of the Business plan. Operating investments mainly concerned work done on plants, networks and infrastructures, in addition to regulatory upgrading, above all concerning gas distribution with a large-scale metre substitution, and the purification and sewerage activities. Net debt came to € 2,642.0 million at 30 September 2018, essentially stable compared to the € 2,610.0 million recorded after the first nine months of 2017, considering the dividends paid. Gas Ebitda for the gas business, which includes services in natural gas distribution and sales, district heating and heat management, reached € 222.2 million at 30 September 2018, up 10.3% over the same period one year earlier thanks to commercial development, higher intermediated volumes and higher revenues for distribution services. The number of gas customers came to 1.413 million in the first nine months of 2018, rising by 1.6% over the same period in 2017. This growth was caused by an expansion in market share and by the companies Blu Ranton and Verducci Servizi becoming part of the Group’s consolidated scope. The gas business accounted for 29.7% of Group Ebitda. Water cycle Ebitda for the integrated water cycle, which includes aqueduct, purification and sewerage services, increased by 4.4%, going from € 178.3 million in September 2017 to € 186.2 million at 30 September 2018, thanks to higher revenues from dispensing, higher recognised costs and the efficiencies reached. The integrated water cycle accounted for 24.9% of Group Ebitda. Waste management The results for the waste management, which includes services in waste collection, treatment, recovery and disposal, also showed increasing figures, with Ebitda going from € 181.4 million at 30 September 2017 to € 188.2 million at the same date in 2018 (+3.7%). This trend was largely caused by changes in the prices set for waste treatment, along with increased results from Aliplast. Further growth was also seen in sorted waste, which went from 56.6% during the same period in 2017 to 61.4% at 30 September 2018, thanks to the numerous services offered. In the month of September, moreover, the Sant’Agata Bolognese biomethane production plant was launched, fully respecting the timing set out in the Business plan. The waste management area accounted for 25.1% of Group Ebitda. Electricity Ebitda for the electricity business, which includes services in electricity generation, distribution and sales, went from € 147.4 million in the first nine months of 2017 to € 133.2 million at 30 September 2018. Sales and trading results benefitted from a higher amount of intermediated volumes (+15.5%) and the enlarged customer base (+7.8%, reaching 1.039 million), thanks to increased market shares and a wider scope of operations. This result partially offset the effect coming from a few suspended generation plants, which became fully functional once again in the third quarter. The electricity business accounted for 17.8% of Group Ebitda The manager responsible for drafting the company’s accounting statements, Luca Moroni, declares, pursuant to article 154-bis paragraph 2 of the TUF, that the information contained in the present press release corresponds to the documentation available and to the account books and entries. The third-quarter management report and related materials are available to the public at Company Headquarters and on the website www.gruppohera.it. Unaudited extracts from the Intermediate Management Report at 30 September 2017 are attached. news_engnewsProfit & Loss (m€) 30/09/2018 Inc% 30/09/2017 Inc.% Ch. Ch. % Sales 4,348.4 4,027.8 +320.6 +8.0% Other operating revenues 321.1 7.4% 327.3 8.1% -6.2 -1.9% Raw material (1,966.6) -45.2% (1,776.4) -44.1% +190.2 +10.7% Services costs (1,529.2) -35.2% (1,428.6) -35.5% +100.6 +7.0% Other operating expenses (42.9) -1.0% (45.3) -1.1% -2.4 -5.3% Personnel costs (410.1) -9.4% (409.1) -10.2% +1.0 +0.2% Capitalisations 28.0 0.6% 29.1 0.7% -1.1 -3.8% Ebitda 748.6 17.2% 724.7 18.0% +23.9 +3.3% Depreciation and provisions (372.2) -8.6% (366.8) -9.1% +5.4 +1.5% Ebit 376.5 8.7% 357.9 8.9% +18.6 +5.2% Financial inc./(exp.) (65.5) -1.5% (74.4) -1.8% -8.9 -12.0% Pre tax profit 311.0 7.2% 283.5 7.0% +27.5 +9.7% Tax (95.1) -2.2% (90.7) -2.3% +4.4 +4.9% Net profit before special items 215.9 5.0% 192.8 4.8% +23.1 +12.0% Special items 4.8 0.1% - 0.0% +4.8 +100.0% Net profit 220.7 5.1% 192.8 4.8% +27.9 +14.5% Attributable to: Shareholders of the Parent Company 208.7 4.8% 182.9 4.5% +25.8 +14.1% Minority shareholders 11.9 0.3% 9.9 0.2% +2.1 +20.9% Balance Sheet (m€) 30/09/2018 Inc.% 31/12/2017 Inc.% Ch. Ch.% Net fixed assets 5,837.0 107.2% 5,780.6 110.5% +56.4 +1.0% Working capital 186.4 3.4% 23.2 0.4% +163.2 +703.4% (Provisions) (578.5) (10.6%) (574.8) (10.9%) (3.7) +0.6% Net invested capital 5,444.9 100.0% 5,229.0 100.0% +215.9 +4.1% Net equity 2,802.9 51.5% 2,706.0 51.7% +96.9 +3.6% Long term net financial debt 2,841.9 52.2% 2,735.4 52.4% +106.5 +3.9% Short term net financial debt (199.9) (3.7%) (212.4) (4.1%) +12.5 (5.9%) Net financial debts 2,642.0 48.5% 2,523.0 48.3% +119.0 +4.7% Net invested capital 5,444.9 100.0% 5,229.0 100.0% +215.9 +4.1% Press Release Q32018 2018-11-06 13:00:00 be_110x150.1525945155.png

2018-10-25 The Hera Group's top management and regional alderwoman Gazzolo inaugurated today, just outside Bologna, the first biomethane-from-organic-waste plant created by a multi-utility. Investments totalling 37 million euro have thus given new impetus to the future of renewable energies on an industrial scale, with 7.5 million cubic metres of biomethane and 20 thousand tonnes of compost sustainably fuelling, each year, a range of sectors including motor vehicle transport and agriculture. biomethane plant How can energy amounting to 6 thousand tonnes of oil equivalent be obtained each year, without consuming a single drop of crude oil and thus avoiding 14,600 tonnes of CO2 emissions? As of today, the answer can be found in Sant'Agata Bolognese, just outside the capital city of the Emilia-Romagna region, where the Hera Group has inaugurated a major plant producing biomethane from the organic portion of waste, designed and created on the basis of the most advanced precedents seen in this sector internationally. The opening ceremony - that saw the participation of the region's alderwoman Paola Gazzolo, Hera's top management and the main local and sector institutions - ushered in a new phase in the decarbonisation of energy production, giving further impetus to the circular economy towards which the region has been moving for some time now. Thanks to this plant, indeed, sorted organic waste coming from our houses will serve the community under the form of gas. Once injected into the network, this gas will fuel public and private transportation vehicles running on natural gas, aiding a sector that is increasingly exposed to the issue of carbon dioxide emission. In line with policies adopted by the Region, the National Energy Strategy and the European Union, the Sant'Agata Bolognese plant will now begin extracting value from this 37 million euro investment. The plant furthermore represents an enrichment of the range of plants belonging to Herambiente, the national leader in waste treatment that has been active for years in biogas production for renewable electricity. A 100% renewable combustible from organic waste In terms of volume, the plant is capable of treating 100 thousand tonnes of sorted organic waste each year, in addition to 35 thousand tonnes resulting from plant clipping and pruning. Thanks to the implementation of new and improved technologies in anaerobic digestion and upgrading, in particular, these resources will allow 7.5 million cubic metres of biomethane, a 100% renewable combustible, to be obtained along with 20 thousand tonnes of compost, a bio-fertiliser mainly intended for agriculture. An architectural project conceived to bring the plant and the area served into harmony, minimising its environmental impact With no combustion plants whatsoever, the plant is located within a pre-existing composting site, with no additional land use required for its construction. Planned with an eye to minimising its acoustic and odoriferous impact, the structure furthermore meets architectonic criteria aimed at harmonising it with the surrounding area. Even its outer covering, which will be added over the next few months, will be dense with themes and motifs that relay the sense of what goes on inside: in particular, images will portray vegetation blossoming out of an arid and cracked ground, calling to mind the transformations undergone by the organic product within the plant. Lastly, a redevelopment of the surrounding green areas will be accompanied by the creation of a path intended to welcome those visiting the plant itself. "We have been working with biomethane for some time now", comments Tomaso Tommasi di Vignano, Executive Chairman of the Hera Group. "Today's inauguration, in particular, is a crowning achievement that represents years of work. Our community will now be served by a plant born out of research, studies and European tenders that allowed us to choose the best of what is currently available on the market. What's more, renewable energies must necessarily become part of industrialisation processes capable of expressing their potential on a large scale. In this sense the Sant'Agata plant is an excellent example that can be replicated elsewhere, above all in light of a regulatory framework that is finally favourable and provides fundamental added value for sector development." "The ribbon has been cut in front of a highly innovative construction project that moves towards an energy transition, pointing in the direction of a low carbon economy: biomethane presents a significant opportunity for reducing the use of fossil fuels and lessening our region's energy footprint, with an eye to a circular economy", states the alderwoman of the Emilia-Romagna Region, Paola Gazzolo. "Renewable energy is a fundamental part of the green turn supported by the Emilia-Romagna government with the policies implemented since the beginning of its mandate. This change of pace is intended to offset the effects of climate change as currently seen and reduce the use of raw materials, promoting recovery and reuse. Precisely because these products and materials are available in limited quantities, we must save them and preserve their value: the project realised by Hera in Sant'Agata is headed in exactly this direction". 20181025_Biometano_il_futuro_dellenergia_green_passa_da_SantAgata_Bolognese_final_eng.1540462958.pdf 2017-06-23 13:17:00 biomethane plant

2018-10-24 Approval arrived today for the agreements concerning a planned integration between the natural gas distribution services provided by Inrete and CMV Servizi, as well as energy sales activities of Hera Comm and CMV Energia e Impianti. Hera Spa Today, the Boards of Directors of the companies involved began a process aimed at developing a solid business project in the northern Ferrara area, bearing on CMV Servizi and CMV Energia e Impianti, both active in the energy sector. The two companies are owned by the Municipalities of Cento, Vigarano Mainarda, Bondeno, Poggio Renatico, Terre del Reno and Goro, which following the transaction will see an increase in their shareholding in the Hera Group. The agreement's implementation is subject to the customary conditions applied in similar transactions, as well as the approval of the various shareholders in their respective meetings, as is expected within the end of the year. The transaction will concern roughly 25 thousand customers (21,300 in gas and 3,500 in electricity) and approximately 30 thousand delivery points (26,500 in the Ferrara area and over 3,100 in the area surrounding Bologna) in natural gas distribution. Following the transaction, the personnel currently employed in the two branches of activity of CMV Servizi and CMV Energia e Impianti will be maintained, as will the local business units, which will converge towards other activities carried out by the Hera Group in the same area. CMV will be able to adopt many Group solutions and policies, going to the advantage of the quality and innovative nature of the service offered to its customers. GH_CMV_press_release_eng.1540394806.pdf 2018-10-24 19:05:46 CMV Servizi and CMV Energia e Impianti's energy activities part of the Hera Group as of 1 March

2018-09-06 Logo_Thomson_Reuters_250x_s1_1507625922.1533221375.jpg 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 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. "Diversity has great value for us at the Hera Group", comments Stefano Venier, Group CEO. "Over the years, we have resolutely introduced policies aimed at favouring insertion, integration and growth among our employees. Over one fifth of the latter are in fact women, a figure that rises to 31.3% in management, far above the average seen in the sector. This result must be considered alongside the positive outcome of the welfare policies launched in 2016, giving particular attention to balancing the home and the workplace: the welfare plan, which concerns the Group's almost 9 thousand employees, has gained a virtually unanimous consensus and has enriched a service offer whose value comes to over 3.5 million euro each year." 06092018_CS_diversity_inclusion_eng.1536227548.pdf 2017-06-23 sinistra 11:26:00 Read more Thomson & Reuters

2018-07-30 Results as at 30 June 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 1Q 2018 results /group_eng/investor-relations/results-and-presentations/1h2018 /documents/1514726/4880892/GruppoHera_relazione_semestrale_consolidata_al_30_06_2018_eng.1533290641.pdf/61b32b21-49d9-70cc-d10d-6383dfc8c8a2?t=1610019108070 /documents/1514726/4210713/Dati_finanziari_ed_operativi_di_sintesi_1H_2018_eng.1532612151.xls/82a13ce9-8ebb-99e2-2f9e-cebba27c7aa8?t=1597907726700 /documents/1514726/4880892/GruppoHera_Analyst_Presentation_1H_2018.1532936431.pdf/45de5ad1-4585-c1be-317d-aadef7a99760?t=1610019109893 /group_eng/investor-relations/results-and-presentations/archive/financial-benchmark http://investornews.gruppohera.it/en/?n=56 /group_eng/investor-relations/results-and-presentations/interactive-data First Half 2018 report in HTML format Financial Report as at 30 June 2018 Financial data as at 30 June 2018 Analyst presentation: H1 2018 Benchmark of consolidated results Newsletter: H1 2018 Interactive data 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% Press release 1H2018 2017-05-08 12:29:53 Related contents be_110x150.1525945155.png