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Financial highlights Revenues at 8,896.0 million euro (+112.8%) Ebitda* at 631.2 million euro (+3.3%) Net profit* at 201.7 million euro (-12.7%) Net financial debt at 3,682.4 million euro, with Net debt/Ebitda* at 2.96x, confirming the Group’s financial solidity Operating highlights Contribution to growth comes from main businesses Further development of initiatives for the ecological transition and the circular economy Solid energy customer base, amounting to roughly 3.5 million The Board of Directors of the Hera Group unanimously approved the consolidated operating results for the first half of 2022. Despite the complicated scenario, marked by ongoing volatility on energy markets and international geopolitical conflicts, the Hera Group’s management policies and its solid and resilient business model have once again proven effective. The Group has thus achieved results that guarantee both quality and continuity of services and the constant creation of value for all stakeholders. As regards changes in the scope of consolidation, the energy areas benefited from the acquisitions, through the subsidiary Hera Comm, of 90% of the Abruzzo company Eco Gas and 100% of the company Con Energia. Also note that Hera Comm was awarded the gradual protection service for electricity supply to SMEs in 9 Italian regions. In the waste management area, compared to June 2021, note the integration of 80% of the Vallortigara Group, which provides services to industries, public administrations and citizens and manages a multi-purpose platform for special waste treatment in the Veneto region. Furthermore, note the acquisition on 30 June 2022, through the subsidiary Marche Multiservizi, of 70% of Macero Maceratese, which operates in the waste management sector. With this additional transaction, the Hera Group has strengthened its nationwide leadership in the waste management sector, and industrial waste management and treatment in particular. Revenues reach roughly 8.9 billion euro In the first half of 2022, revenues amounted to 8,896.0 million euro, with a sharp increase (+112.8%) compared to 4,179.7 million euro seen at 30 June 2021, thanks to the contribution coming from all major business areas. The energy areas in particular showed significant growth, mainly related to the increase in commodity prices. Furthermore, growth in energy services was related to energy efficiency in residential buildings (insulation bonus and 110% super-bonus) and increasing activities involving value-added services for customers. As regards the waste management area, instead, higher revenues mainly came from energy production, the expansion of business customer base and changes in market prices. Ebitda* increases to 631.2 million euro Ebitda* for the first half of 2022 rose to 631.2 million euro (+3.3%), against 610.9 million euro at 30 June 2021, up 20.3 million euro, mainly due to contributions coming from the energy, waste management and water areas. Financial operations improved, pre-tax profit and net profit substantially stable The result of financial operations for the first six months of 2022 came to 50.9 million euro, with a 4.2 million euro improvement compared to 30 June 2021, mainly due to lower financial expenses on long-term debt (the result of debt optimisation operations) and lower expenses from discounting provisions. Compared to the equivalent figures for the previous year, pre-tax profit* thus amounted to 284.0 million euro, up slightly (+0.9%) over the 281.5 million euro seen one year earlier, while net profit* pre-minorities, equal to 201.7 million euro, remained in line with that as at 30 June 2021 (206.4 million euro). Net results* at 201.7 million Net profit* at 30 June 2022 amounted to 201.7 million euro, down from 231.1 million in the first half of 2021, which included non-recurring items amounting to 24.7 million, caused by a tax realignment and the partial repurchase of some bonds. Investments rise; net financial debt affected by the higher value of gas storage In the first half of 2022, the Group’s operating investments, including capital grants, amounted to 287.1 million euro, up sharply (+16.3%) compared to the 246.9 million euro seen during the same period of the previous year, and were mainly related to works on plants, networks and infrastructures. Alongside the latter, regulatory adjustments mainly concerned gas distribution, with a large-scale replacement of meters, and the purification and sewerage area. Net financial debt went from 3,261.3 million euro at 31 December 2021 to 3,682.4 million euro at 30 June 2022, showing an increase coming to roughly 421.1 million euro. This was mainly due to a change in net working capital*, due to the higher value of stored gas, already contracted to better serve the needs of the upcoming thermal season and guarantee quality and continuity of service to customers. The net debt/Ebitda* ratio increased slightly, reaching 2.96x. Conto economico (mln €) giu-22 Inc.% giu-21 Inc.% Var. Ass. Var.% Revenues 8,896.0 4,179.7 +4,716.3 +112.8% Other operating revenues 219.4 2.5% 140.2 3.4% +79.2 +56.5% Raw and other materials (7,062.2) -79.4% (2,135.5) -51.1% +4,926.7 +230.7% Service costs (1,105.2) -12.4% (1,260.1) -30.1% -154.9 -12.3% Other operating expenses (39.3) -0.4% (37.9) -0.9% +1.4 +3.7% Personnel costs (308.7) -3.5% (301.8) -7.2% +6.9 +2.3% Capitalised costs 31.2 0.4% 26.3 0.6% +4.9 +18.7% Ebitda* 631.2 7.1% 610.9 14.6% +20.3 +3.3% Amortization, depreciation and provisions (296.3) -3.3% (274.3) -6.6% +22.0 +8.0% Ebit* 334.9 3.8% 336.6 8.1% 1.7 -0.5% Financial operations (50.9) -0.6% (55.1) -1.3% -4.2 -7.6% Pre-tax result* 284.0 3.2% 281.5 6.7% +2.5 +0.9% Taxes (82.3) -0.9% (75.1) -1.8% +7.2 +9.6% Net result* 201.7 2.3% 206.4 4.9% -4.7 -2.3% Result from special items - 0.0% 24.7 0.6% -24.7 +100.0% Net profit for the period* 201.7 2.3% 231.1 5.5% -29.4 -12.7% Invested capital and sources of financing (mn€) June 22 % Inc. Dec 21 %Inc. Abs. change % change Net non-current assets* 7,385.5 104.7% 7,308.3 109.4% +77.2 +1.1% Net working capital* 297.4 4.2% 2.4 0.1% +295.0 +12,291.7% (Provisions) (626.6) (8.9)% (633.4) (9.5%) +6.8 +1.1% Net invested capital* 7,056.5 100.0% 6,677.3 +100.0% +379.0 +5.7% Equity* 3,373.9 47.8% 3,416.0 51.2% (42.1) (1.2)% Long-term borrowings 4,085.1 57.9% 3,633.1 54.4% +452.0 +12.4% Net current financial debt (402.7) (5.7)% (371.8) (5.6%) (30.9) (8.3)% Net debt 3,682.4 52.2% 3,261.3 48.8% +421.1 +12.9% Total sources of financing* 7,056.3 100.0% 6,677.3 100.0% +379.0 +5.7% * Adjusted results For further information Press release Visit Investors web area banner_primo_piano_1H2022_eng.png The half-year report shows increasing revenues and Ebitda, thanks to the contribution coming from the Group’s main business areas img_110x150_1H2022.jpeg

For our circular economy projects, we have obtained from Bureau Veritas Italia, a leading multinational certification company, the certificate for the AFNOR XP X30-901 standard, the first issued to an Italian multi-utility. The French AFNOR XP X 30-901 standard is now the main international reference for implementing a management system for circular economy projects. This model, in fact, provides a point of reference for all companies that, wishing to adopt circular solutions within their production systems, need a certifiable guide on which to base themselves. Certification for the AFNOR standard encourages standardisation of corporate methodologies for project management, achieved by adopting a concrete tool to carry out a critical analysis of these methods in relation to areas of action and environmental, social and economic factors. More specifically, it is based on a matrix that combines the 3 classical factors involved in sustainability (environment, economy, society) with the 7 action areas of the circular economy (Sustainable Procurement, Eco-design, Industrial Symbiosis, Functional Economy, Responsible Consumption, Product Life Extension, Efficient Product and Material Management). We have implemented a management system for our circular economy projects and have set up the following three, according to this matrix: the “HOVE” project to transform the exhausted vegetable oils collected in the served area into biofuel; a project to integrate circularity criteria into procurement; and a project to reuse purified wastewater. Bureau Veritas Italia was therefore called upon to analyse them in detail and has certified the compliance of the company’s management system for circular economy projects with the AFNOR standard. For futher information Press release Visit Bureau Veritas website BV-logo_870.png We have successfully concluded our certification process with the multinational Bureau Veritas, the sector’s leader, confirming the commitment we’ve shown over the years with numerous projects and initiatives favouring the circular economy BV-logo_110.png

The Hera Group, acting through its subsidiary Marche Multiservizi, the leading operator in public utilities in the Marche region, has acquired from the Iesari family 70% of Macero Maceratese, a long-standing company in this area, operating since 1969 in the waste management sector, whose customers are mainly located in the province of Macerata and to a lesser degree in the remaining provinces of the Marche region, as well as in the neighbouring regions of Abruzzo and Umbria. By operating on the free market and creating significant synergies both with the other companies of the Hera Group active in waste treatment and with its own industrial poles already operating in the province of Pesaro and Urbino, Marche Multiservizi expects, when in full force, a 10% increase in turnover and a 5% increase in Ebitda, with an overall benefit for all stakeholders in the area served. History and activities of Macero Maceratese Widely recognised and consolidated in central Italy, for over 50 years Macero Maceratese has been dealing with services related to managing the waste produced by local industries, including SMEs and large-scale retail trade, and activities related to managing municipal waste, partially destined for energy recovery and landfills, and partially for treatment and recovery. With 30 employees working at three sites in Macerata, Piediripa di Macerata and Martinsicuro (Teramo province), in the last three years Macero Maceratese has handled an annual average of 58 thousand tonnes of waste. The main plant in Piediripa di Macerata is home of two large-capacity pressing plants, a shredding plant and a waste sorting plant, which boast ISO 9001, ISO 14001 and OHSAS 18001 certification, modern equipment and qualified personnel. For further information Press release sede MMS_870.png With this additional transaction, which follows up on others carried out in previous years, the Hera Group has strengthened its national leadership in the waste management sector, regarding in particular industrial waste management and treatment sede MMS_110.JPG

According to Arera, the Regulatory Authority for Energy, Networks and the Environment, we are among the top providers in Italy regarding technical quality of the water service. The ranking, drawn up after a careful assessment by the Authority, refers to the two-year period 2018-2019 and is designed to verify the quality and efficiency of water infrastructures. Interruptions to services, leaks, quality of water supplied, adequacy of the sewerage system, quality of purified water and disposal of sludge. These are the 6 macro-indicators on which each of the water service operators active on the national territory has been analysed and classified. By analysing the data up to 17 July 2020, the Authority was able to award a prize to those who have achieved, maintained and improved on the objectives set. We figure at the top of the ranking, scoring particularly well with regard to the levels of service in the regions of Rimini, Bologna, Ravenna and Forlì-Cesena. This result rewards our use of innovative technologies for the efficient management of the water cycle, and the work of our many professionals, who are committed to ensuring continuity, safety and quality of service on a daily basis. The involvement of local governments has also been fundamental to achieving this goal, with whom we have always teamed up to guarantee citizens an increasingly better service. For further information Read Arera's survey Visit our web area dedicated to the water service Img_servizio-idrico-secondo-arera (2).png The ranking, referring to the two-year period 2018-2019, verifies the quality and efficiency of water infrastructures