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

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

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

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