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sede_hera_110-2.jpg centrata Financial highlights Revenues at 8,187.4 million euro (-25.3%) Ebitda* at 1,037.6 million euro (+3.1%) Net profit for Shareholders* at 282.9 million euro (+20.1%) Gross operating capex at 561.1 million euro (+9.2%) Net financial debt at 4.175,0 million euro and Net debt/Ebitda ratio at 2.74x Increased return on invested capital, with ROI rising to 9.5% Business highlights Growth in operating results sustained by increased volumes in energy sales and volumes treated in the waste management area, which confirmed its resilience within a less expansive macroeconomic context Positive contribution to operating growth also coming from all regulated activities, following the Authority’s revisions of tariff systems and ongoing cost-efficiency projects Continuous growth in the customer base: over 7.5 million citizens with at least one service provided by the Group Innovative initiatives maintained to accompany the ecological transition in the local areas served and strengthen the resilience of assets, in line with the strategy to achieve Net Zero by 2050 Today, the Hera Group’s Board of Directors, chaired by Executive Chairman Cristian Fabbri, unanimously approved the consolidated quarterly report at 30 September 2024. The first nine months of 2024 showed a decrease in turnover, caused by lower energy prices, and a confirmation of growth in operating results and capex, even compared to the significant growth achieved in 2023, sustained by non-recurring components as well. More specifically, the 9.2% increase in operating capex demonstrates the Group’s ongoing focus on developing, enhancing and strengthening the resilience of the assets under management, whose reliability was confirmed once again during the extreme weather and climate phenomena recently recorded in Emilia-Romagna region. Moreover, Hera’s commitment to projects capable of accelerating the path towards the green transition of the communities served remained constant, fully in line with its five-year Business Plan to 2027. Excellent results were achieved in business operations, with growth in both free market and regulated activities, which sustained the increase in Ebitda and operating income and ensured solid value creation for all stakeholders. Cristian Fabbri, Executive Chairman of the Hera Group: “Fully in line with the first half of 2024, the results for the nine months of the year point towards significant growth in all main indicators of our income statement and steady progress in the value created for all stakeholders. In particular, the rise in net profit attributable to Shareholders, which increased by more than 20%, and the increase in return on invested capital, now at 9.5%, confirm that we are fully implementing our Business Plan. The positive financial results were accompanied by an ongoing focus on sustainable growth in the areas in which we operate, and this commitment was confirmed by shared-value Ebitda, which came to roughly 54% of overall Ebitda. These results leverage the Group’s ability to grow in both its free market and regulated activities, continuing along the path of ‘structural’ sustainable development in favour of the communities served. With the beginning of the Gradual Protection Service “STG” provided to customers, and our continuous commercial development, we now supply at least one service to over 7.5 million citizens.” Orazio Iacono, CEO of the Hera Group: "The report as at 30 September shows an increase coming to over 20% in net profit attributable to Shareholders, which rose to approximately 283 million euro. The Group achieved particularly solid growth, with an important contribution coming from regulated businesses, which benefited from changes in the regulatory framework, and from the waste management business, which showed a continuously increasing Ebitda, especially in the free market, consolidating its leadership in this sector despite a complex macroeconomic context. The operational performance, already positive, was accompanied by a significant contribution from financial management, which are progressively benefitting in 2024 from the liability management and debt rationalisation initiated in the second half of 2023. Moreover, partially thanks to the contribution coming from the EIB financing line, the Group continued to accelerate along its path of green transition, decarbonisation, circular economy and protection of water resources in the territories served. Gross operating investments were up by approximately 10%, and have been rising for many years precisely to work towards a major infrastructure development, with the aim of improving the quality of services and the resilience of all assets. The net debt to Ebitda ratio, which remained steadily at around 2.74x, provides the Group with significant financial solidity and flexibility, allowing it to successfully grasp opportunities for external growth, in line with the targets of the Business Plan.” Revenues at over 8 billion euro At 30 September 2024, revenues amounted to 8,187.4 million euro, down from 10,955.0 million euro in the same period of 2023 (-25.3%), mainly due to the drop in energy commodity prices and a reduction in incentivised activities on energy-saving services. The decrease in turnover due to lower volumes of gas was more than offset by the higher volumes of electricity sold, thanks to significant commercial development, and by higher tariff revenues in network services for regulated businesses, based on the Authority’s new return benchmarks. Ebitda* rises to 1,037.6 million euro Ebitda* for the first nine months of 2024 increased to 1,037.6 million euro (+3.1%), as against 1,006.8 million euro at 30 September 2023. This growth was entirely organic and structural, driven by the water cycle and the good performances of the waste management and electricity areas, which allowed the Group to fully offset the loss of margins linked to the super-ecobonus, included in the gas area, and confirming once again the solidity of its multi-business portfolio. Ebit* increases to 522.5 million euro Ebit* for the first nine months of 2024 rose to 522.5 million euro, up 3.5% from 504.6 million euro in the same period of 2023. This increase was supported by a normalisation of provisions, due to a standardisation in the prices of commodities in energy markets; this partly offset the increase in amortisation related to the trend in investments over the last few years, mainly linked to the development of plants in the waste management sector and in water and energy distribution networks. Financial operations: excellent results in the first 9 months Financial operations for the first nine months of 2024 amounted to 89 million euro, improving by 50.7 million compared to the same period of the previous year, mainly due to the rationalisation of the financial structure. Net profit pertaining to Shareholders* up by over 20% At 30 September 2024, net profit* amounted to 312.1 million euro (+16.8%), compared to 267.1 million in the same period of 2023, with a tax rate coming to 28%, up slightly mainly due to lower tax benefits. Net profit attributable to Shareholders* rose to 282.9 million euro, up 20.1% compared to the 235.5 million euro seen at 30 September 2023. Strong growth in operating investments and the Group’s financial solidity confirmed In the first nine months of 2024, operating investments, including capital grants, amounted to 561.1 million euro, up 47.1 million euro compared to the previous year (+9.2%) and mainly related to development work on plants, networks and infrastructures, as well as regulatory upgrading, particularly in energy and water networks. The Group’s financial solidity was fully confirmed, with a net debt/Ebitda* ratio of 2.74x. This figure remained constant throughout the year, leaving ample financial flexibility for potential new opportunities in the future. The total amount of net financial debt in the first nine months of 2024 came to 4,175 million euro, in line with the 4,148.9 million euro seen at 30 September 2023. Financial returns improved both on invested capital, which stood at almost 8 billion euro, and on equity: ROI rose to 9.5% (from 9% at 30 September 2023) and ROE to 11.7% (from 10.6% in the first nine months of the previous year). Gas Ebitda for the gas area, which includes natural gas distribution and sales, district heating and energy services, stood at 308.7 million euro at 30 September 2024, compared to 334.1 million euro in the same period of 2023. This result, an improvement over the first half of the year, was sustained by growth in margins in commercial activities, also due to the lower impact of modulation costs, and by regulated distribution revenues, thanks to the recovery of higher inflation and WACC, which partially succeeded in offsetting non-recurring business opportunities of the previous year, above all energy efficiency enhancement activities that benefited from tax incentives (110% eco-bonus). In the first nine months of 2024, gross investments made in the gas area amounted to 126.2 million euro, as against to 138.1 million euro during the previous year, mainly due to the absence of the non-recurring investments made in 2023. The number of gas customers stood at 2 million. The gas area accounted for 29.7% of Group Ebitda. Electricity Ebitda for the electricity area, which includes electricity generation, distribution and sales services as well as public lighting, rose to 200.7 million euro (+7.2%) at 30 September 2024, as against 187.3 million euro in the same period of 2023. Growth was sustained by higher commercial margins, thanks to development and a reduction in modulation costs. Distribution also increased, due to the application of the ROSS regulatory criterion, inflation recovery and the increased regulatory WACC. In the electricity area, gross investments amounted to 85.9 million euro, up 3.9% compared to the same period of the previous year. In the electricity distribution segment, investments were mainly related to upgrading on plants and networks, aimed at increasing their hosting capacity, as well as the ongoing large-scale meter replacement and interventions aimed at improving network resilience. In the public lighting segment, investments in activities related to the acquisition of new customers increased. The investments also include the Smart Grid project, financed by the NRRP, to upgrade Trieste’s electricity grid and create new plants to supply Trieste’s port terminals and meet the city’s evolving need for electricity. Also note that, as of 1 July 2024, with the end of the greater protection system, the Group acquired approximately 1 million customers after being awarded 7 lots (the maximum allowed out of the total 26) in the tender for the Gradual Protection Service for household customers in 37 provinces, strengthening its presence in several Italian regions and further consolidating its position as the third largest energy operator nationwide. Partially thanks to the positive contribution coming from activities to strengthen its commercial action on the free market, the number of customers increased by 56.2% compared to the same period in 2023, reaching roughly 2.7 million. As regards public lighting, in the first nine months of 2024 the Hera Group acquired 25.6 thousand lighting points in 15 new municipalities, mainly in Tuscany, Umbria, Emilia-Romagna, Liguria and Lombardy. The percentage of lighting points managed using LED bulbs also increased, confirming the Group’s constant focus on increasingly efficient and sustainable management of public lighting. The electricity area accounted for 19.3% of Group Ebitda. Water cycle Ebitda for the integrated water cycle area, which includes aqueduct, purification and sewerage services, rose to 234.5 million euro at 30 September 2024, up 12.1% from 209.3 million euro in the first nine months of 2023. This result is mainly attributable to inflation recovery and the increase in regulatory WACC. Gross investments in the water cycle area amounted to 174.9 million euro (107.9 million euro in the aqueduct, 39.8 million euro in sewerage and 27.2 million euro in purification), mainly for extensions, reclamation, and upgrading on networks and plants, as well as regulatory adjustments mainly in the purification and sewerage areas. The main interventions include: in the aqueduct, ongoing reclamation activities on networks and connections and specific renewal and upgrading operations, including interventions on the aqueduct in the Padua and Trieste areas, which had access to NRRP funding; in sewerage, upgrading on the sewerage network in other areas served, works to adapt discharges, the construction of a first rainwater basin in the municipality of Cattolica and the sewerage works involved in the extension of the Forlì and Modena bypasses; in purification, upgrading and expansion of the Ravenna and Lugo purification plants and the construction of the new plant using power-to-gas technology at the IDAR purification plant in Bologna, partly financed by the NRRP. In the Marche region, the first construction sites became operative to digitise and make the water network in the province of Pesaro more efficient, also with access to NRRP funds (19.5 million euro out of a total investment of 27 million euro). The integrated water cycle area accounted for 22.6% of Group Ebitda. Waste management At 30 September 2024, Ebitda for the waste management area increased to 271.6 million euro (+5.3%), compared to 258 million euro in the same period of 2023. Ebitda for waste treatment services reached 223.2 million euro, while Ebitda for environmental services including collection and street sweeping rose to roughly 48.3 million euro, mainly due to the gradual implementation of new concessions. Compared to the same period of the previous year, an increase occurred in waste commercialised due to an increase in market waste, due to the consolidation of existing business relations and the development of the customer portfolio, in both the industry and utility sectors. Municipal waste, instead, normalised with respect to the previous year, which included the extraordinary deliveries following the 2023 flood. In the first nine months of the year, in this business area, the Group continued along its path of growth thanks to the diversification of its offer, the breadth of its customer portfolio and its ability to respond with innovative and integrated services, despite a complex macroeconomic context with repercussions in the markets covered as well. More specifically, Herambiente, which thanks to a unique set of plants is Italy’s leading operator in this sector, consolidated its leadership in the industry market with a synergic merger of TRS Ecology. This transaction will strengthen the growth prospects of a well-established local company, with work set to begin on renovating the Caorso platform, aimed at additional environmental protection and growth in material recovery. By supporting large companies in reducing and recycling waste, regenerating resources and achieving their ESG targets, therefore, Hera confirmed its role as a strategic partner for the environmental transition of the industrial sector as well. Environmental sustainability is a priority objective for the Hera Group, as is maximising the regeneration of resources. This is proven by the special attention devoted to developing sorted waste collection, which, thanks to the strong commitment deployed by Hera in all areas served, increased by over two percentage points compared to the figures seen in 2023, rising to 73.9%. Investments in the waste management area amounted to 93.8 million euro and mainly concerned maintenance and upgrading of waste treatment plants, including the work done on line 4 of the Padua plant, which is proceeding smoothly, and the optimisation of collection areas and equipment. In particular, in the sorting and recovery plants sector, an increase was due to the work done by Group subsidiaries HEA, a company in a partnership with Eni Rewind, and Vallortigara, involved in the expansion of the Torrebelvicino plant in Veneto region, in addition to the construction underway in Modena on a plant for recycling rigid plastics, also partially financed by the NRRP. The waste management area accounted for 26.2% of Group Ebitda. 20241113 PR Hera Group 3Q 2024 results ENG.pdf 2024-11-13 12:31:00 sede_hera_110-2.jpg

The Japanese electronics leader consolidates its collaboration with the multi-utility to distribute the 4.0 gas meter NexMeter in the European market. Thanks to its advanced features in measurement and safety in case of dangerous leaks, proven performances in emission reduction and energy efficiency, the device plays an essential role in the decarbonization of consumption centers. sede_hera_110-2.jpg centrata At ENLIT Europe 2024 (Milan, October 22-24), one of the most important fairs for energy transition focusing on innovations in smart grid technologies for decarbonization, Hera Group, one of Italy’s largest multi-utilities, and Panasonic Industry Europe, a subsidiary of the Japanese multinational, strengthen their collaboration by extending the commercial agreement for the distribution of the innovative NexMeter gas meter to the European gas distribution market, with potential future partnerships with global operators. The collaboration between Gruppo Hera and Panasonic dates back to 2019, when the multi-utility launched its 4.0 smart gas meter, equipped with advanced safety and leakage reduction functions, which later evolved in terms of hardware and software. Conceived by an industrial group with a strong focus on sustainability, NexMeter is mainly built with recyclable components. Since 2021, Hera has also introduced recycled plastic components and obtained the “compatibility” label for green gas mixtures such as hydrogen and biomethane. NexMeter is now a consolidated device. The Hera Group’s development plan has led to the installation of about 300,000 meters mainly in Friuli-Venezia Giulia and Emilia-Romagna, areas classified as of high seismic risk. Thanks to its advanced features and shut off valve, the meter can detect gas leaks in the users’ homes, stop the supply in case of dangerous leaks, and alert emergency centers autonomously. To date, 70 alert cases have been recorded, 18 of which avoided serious incidents. Additionally, NexMeter’s extreme sensitivity allows the detection of even small, often hidden leaks, effectively contributing to the reduction of methane emissions into the atmosphere in homes and companies. Initially developed to meet the needs of areas affected by the 2012 Modena and Ferrara earthquake, over time NexMeter has become a safety tool for people and the environment, with significant benefits in emission reduction and consumption efficiency. For the Hera Group, the NexMeter is a strategic lever for reducing Scope 3 emissions as outlined in its Climate Transition Plan with a net zero target by 2050. This document, in line with the scientific community guidelines, quantifies the Group’s current and future emission impacts and illustrates both the contribution of external scenario evolution and the internal decarbonization levers the company will implement with an active stakeholder involvement. One of the most innovative aspects of Hera Group’s net zero plan is the aim to reduce emissions not only within its activities but also along the entire value chain, investing in solutions that promote energy efficiency and electrification at consumption centers. Thanks to the technology adopted for NexMeter, which offers exceptional performance and advanced features, the Hera Group has been a pioneer in smart gas metering. For Panasonic, with over 35 years of market experience, NexMeter represents a significant reference in the European smart gas metering market and fully meets its sustainability goals: among other initiatives by the Japanese group, this project is aimed at creating innovative and green technologies for people’s well-being. This collaboration leverages Panasonic’s experience in the Japanese market, where most meters are equipped with safety functions, particularly through a unique safety logic using pressure, seismic data, and an innovative Ultrasonic Measurement Unit customized for the Italian and European markets. With over 20 million Ultrasonic Measurement Units installed globally, NexMeter is compatible with sustainable energy sources, including hydrogen (up to 23% in the current version and 100% in the next generation) and biogas, and it is also effective for calorific value measurement. “The Italian gas system is undergoing a significant transition and change. An evolutionary path where industrialization and technological advancement go hand in hand with the sector’s focus on sustainability, decarbonization, and energy security. To accelerate this process, teamwork among the main sector companies is essential, sharing skills and knowledge. In this context, Hera Group’s contribution is expressed through extensive research and technological evolution with the development of digital tools like NexMeter. The advanced meter we launched and positively tested on the market for 5 years has achieved positive results in home safety in seismic areas and gas leak detection, playing an important role in reducing methane emissions into the atmosphere. Therefore, it represents one of the industrial evolution tracks that the Hera Group brings as a contribution to the energy transition of the gas distribution sector. Besides, it fully fits within the levers for reducing Scope 3 emissions outlined in the Climate Transition Plan with a net zero target by 2050 defined by the Group. The international extension of the partnership with a market leader like Panasonic Industry reaffirms not only the qualities of NexMeter but also our role as pioneers and early adopters in metering. We hope that this meter can support other countries operators in their transition journey and lead to a reconsideration in terms of remuneration by the Italian regulatory authority,” said Alessandro Baroncini, Central Network Director of Gruppo Hera. Winfried Neumayer, Senior Director of Panasonic Industry Europe, added: “Our participation in this collaboration marks a significant step towards expanding our business in Europe. Extending the commercial agreement with Gruppo Hera to promote the revolutionary NexMeter in the European gas distribution market represents an extraordinary opportunity for Panasonic to establish new partnerships with global gas operators. Our collaboration with Gruppo Hera underscores Panasonic’s commitment to innovation, safety, and sustainability. NexMeter is the ideal solution for European gas distributors to achieve their environmental sustainability goals. Collaborating with Gruppo Hera, Panasonic brings extensive knowledge and experience. While Panasonic specializes in providing advanced components, Gruppo Hera’s extensive expertise in gas distribution makes them an ideal partner for this venture. This union is destined to improve gas distribution by combining Japanese precision with European industry experience.” A technology that also looks confidently at hydrogen blending NexMeter is also “hydrogen ready,” being the only meter field-tested with a methane and hydrogen blend in the gas distribution network of the Italian Castelfranco Emilia (Mo) town. After the second injection test, the multi-utility started a working group involving the Ministry of Environment and Energy Security and the Fire Brigade to test a blend with higher hydrogen percentages. The NexMeter Core Project Thanks to the success of NexMeter’s features over the past 5 years, the multi-utility has decided to replace all its meters with new device evolutions and a subsequent generation of NexMeter starting in 2029. The next meters produced will also be recognizable as “NexMeter Core” thanks to an identifying logo that will be affixed to mark the project’s evolutionary consolidation, both in terms of gas composition measurement, including blending, and its energy value, aiming for greater efficiency and consumption reduction.   cs panasonic.jpg Read the Press Release 20241023_cs Panasonic and Hera Group for international distribution of NexMeter_EN.pdf 2024-10-23 11:25:00 sede_hera_110-2.jpg

Saipem's Bluenzyme technology is expected to be applied to capture CO₂ emissions at the waste-to-energy plant of the subsidiary Herambiente in Ferrara. It will be the first industrial-scale example of CCS applied to a plant of this type in Italy. The project is one of the main decarbonization levers in the multi-utility's Climate Transition Plan to reduce internal emissions sede_hera_110-2.jpg centrata Capturing carbon dioxide emitted from the waste-to-energy plant’s chimneys and storing it in depleted natural gas fields, thereby significantly reducing plant emissions while contributing to the decarbonization of local areas. This is the goal of the pioneering project for the Ferrara plant - proposed by Hera Group, as the lead partner, in collaboration with Saipem - that has been selected to receive funding under the fourth call for mid-scale projects from the EU Innovation Fund. Once the allocation is finalized, the funding for the CO₂ emission capture project will amount to nearly €24 million. This industrial CO₂ capture project is the first of its kind in Italy designed for waste-to-energy plants and among the first in Europe. It involves the application of Bluenzyme™️, Saipem's proprietary and modular solution based on “CO₂ Solutions”, an innovative enzymatic technology for capturing carbon dioxide in industrial processes of small and medium emitters. The initiative was selected by European authorities for its high level of innovation, and its potential replicability in other waste-to-energy plants and other hard-to-abate industrial sectors in Italy, and more generally across Europe. The European Funds will cover a significant portion of the €53 million planned for the construction of the CO₂ capture plant. Depending on opportunities arising from changes in the regulatory framework, the plant is expected to be operational by 2028. The project will fully abate CO₂ emissions from the Ferrara waste-to-energy plant CO₂ capture is a crucial decarbonization tool for waste-to-energy plants, and for now, the Herambiente plant in Ferrara has been identified as the most suitable. The project will enable, in fact, the capture of approximately 90% of the emissions from one of the plant's two lines, amounting to 64 thousand tons of CO₂ per year (equivalent to the annual emissions of around 37 thousand cars), which represent the entirety of the CO₂ emitted, making the entire energy production from the waste-to-energy process sustainable. The remaining share of the CO₂ emitted by the plant is biogenic in nature and therefore environmentally neutral. The captured CO₂ will be transported via pipeline and stored in the depleted gas fields of the Adriatic. The new CO₂ capture plant will ensure high standards of safety and innovation, while maximizing energy efficiency. It will be entirely green, as it will exploit renewable energy, both generated from the waste-to-energy plant itself and from geothermal heat delivered through the multiutility’s district heating network. The enzymatic capture process, with a low environmental impact, can be powered by low-temperature heat, such as geothermal heat. Further CO₂ emissions will therefore be avoided. Hera Group's commitment to decarbonization and the Climate Transition Plan With this initiative, Hera Group, one of the main multiutilities in Italy, reaffirms its commitment to fostering and supporting the ecological transition of the areas it serves, leveraging its extensive plant network and the expertise developed in various sectors. The company confirms itself as a pioneer in pursuing carbon neutrality, a central theme in its strategy: this project represents, in fact, one of the main internal levers outlined in the Hera Group's Climate Transition Plan aimed at reducing emissions with the goal of achieving Net Zero by 2050. Out of the €4.4 billion in investments planned by Hera Group in its industrial plan for the period 2023-2027, more than 30% are dedicated to projects that support decarbonization. “We achieved the highest score in the European Innovation Fund call: this confirms the highly innovative nature of this initiative. This is a very significant achievement, which sees us as pioneers in Italy with this industrial-scale CO₂ capture solution, applied to waste-to-energy plants. As leaders in the environmental sector, we are paving the way for innovation in this field, leveraging investments and expertise. This is a safe technology and replicable in other plants in Italy and abroad, which combines circular economy activities aimed at material recovery with decarbonization processes. With this solution, in a crucial sector like waste treatment and energy generation, we extend the lifespan of plants while increasing their resilience. This technology is among the main internal levers for reducing Scope 1 emissions outlined in our Climate Transition Plan. We are the first multiutility sector player in Italy and among the first in Europe to declare the Net Zero target for 2050 across all three Scopes: while being deeply rooted in the areas we serve, we feel more than any other company the need to create value, fostering sustainable community development and increasing the resilience of our assets through the enabling power of new technologies” – declared Orazio Iacono, CEO of Hera Group. “The recognition from the EU Innovation Fund confirms the high level of innovation in Saipem’s Bluenzyme™️ technology for the decarbonization of small and medium emitters in hard-to-abate sectors with a unique project for Italy and in Europe that strengthens our company's role in supporting its clients in their journey towards carbon neutrality”, declared Alessandro Puliti, CEO of Saipem. Read the Press Release PR Saipem Hera Group.pdf 2024-10-23 07:38:00 sede_hera_110-2.jpg

sede_hera_110-2.jpg centrata The Hera Group’s Director of Investor Relations, Jens Klint Hansen, received the Rising IR Professional 2024 award during the Italian Investor Relations Awards ceremony, organised by the Investor Relations Association in collaboration with Nasdaq and Extel. The event took place at the headquarters of Cassa Depositi e Prestiti in Milan, and the results were published on the Nasdaq Tower in Times Square in New York. Extel, an independent research provider with a strong reputation among institutional investors and financial analysts that has been operating in the market for over 50 years, gave Hansen this award “for the significant increase in the consensus obtained from investors and analysts in the main financial centres”. “I am grateful to receive this award, which confirms how much the financial community appreciates the management of transparent and reliable relations, consolidating the market’s trust in the Hera Group and its strategy for growth. This wealth of relationships goes to the benefit of all stakeholders,” remarked Jens Klint Hansen. After overseeing Hera’s IPO in June 2003, since January 2010 Hansen has been the Group’s Director of Investor Relations, entrusted with defining, implementing and managing communication strategies and relations with financial market institutions.   Read the Press Release 20241002 Hera Group - Jens Klint Hansen Rising IR Professional 2024.pdf 2024-10-02 11:50:00 sede_hera_110-2.jpg

sede_hera_110-2.jpg centrata Financial highlights Revenues at 5,536.8 million euro (-33.3%) Ebitda at 732.7 million euro (+2%*) Net profit for shareholders at 218.4 million euro (+16.4%*) Gross operating investments at 344.4 million euro (+8.2%) Net financial debt at 4,063.5 million euro (-2%), with Net debt/Ebitda ratio at 2.69x (-10%) Business highlights Contribution to structural growth coming from all business areas Significant increase in the energy customer base, further consolidating the Group’s position as Italy’s third largest operator in this sector Ongoing innovative initiatives to support sustainable growth benefitting all stakeholders, with a clear improvement in shared-value Ebitda, at 53% (+1%), and further projects favouring employees, suppliers and the reduction of climate-changing emissions Today, the Board of Directors of the Hera Group, chaired by Executive Chairman Cristian Fabbri, unanimously approved the consolidated results for the first half of 2024. The half-year ended with increased operating results and investments compared to the same period of the previous year, within a more stable market scenario due to the reduced volatility of energy commodity prices. The Group’s good operating and financial performance is the result of its consolidated multi-business model, balanced between regulated and free-market activities. The consolidated half-year report at 30 June demonstrates, once again, Hera’s considerable financial solidity and confirms its focus on the resilient and sustainable growth of the company and the local areas served, creating value for all stakeholders. Cristian Fabbri, Executive Chairman of the Hera Group: “The results for the first half of 2024, with main economic and financial indicators increasing, also testify to the constant generation of value for all our stakeholders. Ebitda rises to 732.7 million euro, thanks to the contribution of core business areas, and a strong improvement in ROI is recorded, which stands at 9.6% - 10% higher than in the same period last year - fully confirming a profitability strongly underpinned by the growth of ‘structural’ activities. This further progress, following up on the extraordinary results of 2023, shows our Group’s ability to achieve the goals included in our Business Plan, creating the conditions for further development, supported by an 8% increase in investments. The creation of value for shareholders, to whom dividends were distributed with a 12% increase, in the first half of the year, was accompanied by significant results in ESG factors, including an increase in shared-value Ebitda, now reaching 53% of total Ebitda, the definition of a strategy to reach the Net Zero target by 2050, the signing of the Good Work Deal and the supplier development programme, which further confirm the centrality of the environment, workers and suppliers as protagonists and beneficiaries of the path for sustainable development defined in our Business Plan, in favour of the communities in which we operate. Moreover, in July we further expanded our Electricity business adding one million customers, following the recent award of the tender for the Gradual Protection Service for non-vulnerable household customers”. Orazio Iacono, CEO of the Hera Group: "Our half-year report shows a significant increase of over 16% in net profit attributable to shareholders, which rose to over 218 million euro. Industrial growth was reinforced by a relevant contribution coming from the financial structure. Financial solidity was guaranteed by the net debt/Ebitda ratio, which stands at 2.69x, confirming a full financial flexibility. Growth in operating margins was due, in particular, to the excellent performance of networks, which in total contributed almost 270 million euro to the Group's EBITDA, equal to 11%, thanks in particular to energy distribution services and the water cycle, and to the acceleration of growth in the waste area, which rose to 172 million euro (+5.3%). An infrastructure platform and an integrated multi-business strategy that makes the most of industrial synergies among the Group’s subsidiaries confirm our role as enabler of the green transition and the resilience of the activities carried out in the served areas. The achievement of the Net Zero target to 2050 will also be supported by technological innovation, such as, for example, the installation of carbon capture and storage technologies on several of the Group's waste-to-energy plants”. Revenues at over 5.5 billion euro Revenues amounted to 5,536.8 million euro, as against 8,297.5 million at June 30, 2023 (-33.3%), mainly due to lower energy prices and lower values in trading activities. More generally, the greater stability seen in commodity prices positively influenced the performance of the entire operating and financial management during the period. Ebitda rises to 732.7 million euro Ebitda for the first half of 2024 rose to 732.7 million euro (+2%*), compared to 718.3 million euro at June 30, 2023. This growth was driven by all core activities in the portfolio, from the integrated water cycle to both regulated and free-market activities in waste management and traditional energy sales and distribution activities, allowing the Group to compensate for the loss of margins related to the super-bonus. EBIT and pre-tax result increase Ebit at June 30, 2024 grew to 385.1 million euro, up 2.8%* from 374.7 million euro seen in the first half of 2023. This positive performance was linked to lower provisions for bad debts, mainly involving energy customers due to lower commodity prices. This decrease almost completely offset the rise in amortisation related to development investments, in line with the Business Plan. Significant improvement was also seen in financial operations, thanks to the gradual easing of the financial absorption caused by the energy crisis and the ensuing financial rationalisation, which led to savings in expenses related to debt, and income from tax credits for incentivised work in 2023. The positive results of operational and financial management led the pre-tax result to stand at 329.6 million euro (+16%*), as against 284.2 million at June 30, 2023. Net profit for shareholders increases significantly, reaching 218.4 million euro The net income rose to 237.3 million euro (+14.1%*), compared to 208 million in the first half of 2023, after a tax rate at 28%, as against 26.8% at June 30, 2023, the latter underpinned by non-recurrent tax benefits. A significant increase also occurred in net profit for Group Shareholders, coming to 218.4 million euro (+16.4%*), as against 187.7 million at June 30, 2023. These results confirm the creation of value for all stakeholders, perfectly in line with the expectations of the Plan. Operating investments rise and Group solidity further strengthened The amount of investments made confirms Hera’s strategic plans and involved significant work on plants, networks and infrastructures. Operating investments in the first half of the year, including capital grants, amounted to 344.4 million euro, up 8.2% from 318.4 million euro at June 30, 2023. The total amount of net financial debt came to 4,063.5 million euro, compared to 3,827.7 million at 31 December 2023 and improving by 2% compared to the first half of 2023. The net debt/Ebitda ratio stood at 2.69x, well below the Group’s historically conservative policy, confirming the Group’s financial solidity. Maintaining low financial leverage gives Hera flexibility to further expand operations. In addition, to secure any additional extraordinary liquidity needs, the Group still has a 450 million euro sustainable revolving line, maturing in 2028, and a 460 million euro EIB financing line, usable within September 2026 with a sixteen-year term. Hera Group becomes the first Italian multi-utility with a Net Zero target to 2050 Today, the Board of Directors also approved the Climate Transition Plan, which outlines Hera Group’s strategy and commitment to achieve Net Zero target by 2050, a goal that will be pursued with reference to both direct and indirect greenhouse gas emissions, to achieve an overall reduction coming to approximately 90% by 2050, compared to 2019, and the removal of all residual emissions at the end of the decarbonisation pathway. This is a further distinctive element of the Group’s strategy, which thus extends to the long term its commitment to being an enabler of the green transition by ensuring the resilience of its customers and the served areas. More details can be found in the dedicated press release. Growth in shared value, the Good Work Deal and the supplier development program further strengthen the Hera Group’s commitment to its stakeholders In the first six months of the year, shared-value Ebitda, i.e. the value of activities that contribute to sustainable development, reached 53% of total Ebitda, up an additional percentage point compared to the 2023 data. In the second quarter, the Hera Group continued to work intensively on all ESG aspects in order to ensure the full success of its growth and value creation strategies in the medium and long term. In addition to the decarbonisation plan, indeed, the quarter saw the formalisation of the Group’s strategies and concrete actions in favour of two other important stakeholders: personnel and suppliers. The Good Work Deal defines strategies and actions to involve and benefit the Group’s workers in the sustainable growth set out in the Business Plan, focusing on safety, defining a virtuous circle between training, professional development and increased productivity, improving work-life balance, and introducing sustainable growth targets into performance bonuses for all workers. The supplier development program (Hera_PRO) supports supplier growth on issues such as safety and sustainability, confirming the Group’s commitment to enabling the growth of the communities in which it operates. Gas Ebitda for the gas area – which includes natural gas distribution and sales, district heating and energy services – stood at 256.5 million euro in the first half of 2024, compared to 293.1 million euro at June 30, 2023 (-12.5%*). This result was mainly due to changes in government incentives for energy efficiency activities. Indeed, growth occurred in both the performance of traditional sales markets, due to lower modulation costs following the stabilisation of the energy market, and regulated distribution revenues, thanks to the recovery of higher inflation and the adjustment introduced by the Regulatory Authority for Energy Networks and Environment (ARERA) in regulatory WACC. The number of gas customers stood at 2.1 million, in line with the previous year. With the aim of additionally strengthening the presence of Group subsidiary Inrete Distribuzione Energia in its reference area Emilia-Romagna, in June Hera acquired the business unit of Soelia covering plants, natural gas distribution networks and related management services – whose set of plants serves about 10,000 delivery points in Argenta (Ferrara province) – and a 2.85% shareholding in Sinergas. In the first half of 2024, investments made in the gas area amounted to 77.7 million euro. In gas distribution, they mainly involved non-recurring maintenance work on networks and plants, while in gas sales they were aimed at acquiring new customers. The gas area accounted for 35.0% of Group Ebitda. Electricity Ebitda for the electricity area – which includes electricity generation, distribution and sales services as well as public lighting – rose to 144.2 million euro (+18.3%), as against 122 million in the same period of 2023. This growth occurred both in terms of volumes sold to end customers, thanks to the significant commercial development mainly in the free market, which brought an increase of about 147 thousand customers, and in terms of margins, due to the lower cost of modulation activities resulting from the drop and stabilisation of raw material prices. Distribution also increased, due to the application of the ROSS regulatory criterion, inflationary recovery and the rise in regulatory WACC. In the first half of 2024, gross investments made in this area amounted to 59.1 million euro, up 20.4% over the previous year. In electricity distribution, the interventions carried out mainly concerned non-recurring maintenance and upgrading of plants and distribution networks aimed at increasing hosting capacity, as well as the ongoing large-scale meter replacement and interventions to improve network resilience, while in energy sales, investments in activities related to the acquisition of new customers increased. The number of customers, up 9% compared to the same period in 2023, reaches about 1.8 million. We must also recall that, thanks to the 7 lots awarded in the tender for the Gradual Protection Service for non-vulnerable household customers, as of July 1, about 1 million new customers are covered by the electricity service in 37 provinces. The Hera Group has thus strengthened its presence in several regions of Italy, further consolidating its position as the third largest energy operator nationwide. In public lighting, Hera Group acquired 42.7 thousand lighting points in 16 new municipalities during the first half of 2024, mainly in Tuscany, Umbria, Emilia-Romagna, Liguria and Triveneto. The percentage of lighting points that use LED lamps also rose, confirming the Group’s constant focus on an increasingly efficient and sustainable management of this sector. The electricity area accounted for 19.7% of Group Ebitda. Water cycle Ebitda for the integrated water cycle area – which includes aqueduct, purification, and sewerage services – rose to 146.2 million euro at June 30, 2024, up (+13.7%) compared to 128.6 million euro in the first half of 2023. This growth is mainly due to inflation recovery and the increase in regulatory WACC. In the first half of 2024, investments in the water cycle area, including capital grants, amounted to 107.6 million euro (67.1 million in aqueduct, 25.2 million in sewerage and 15.3 million in purification), and mainly involved extensions, reclamation, and upgrading on networks and plants, as well as regulatory adjustments mostly concerning the purification and sewerage area. The main interventions include, in the aqueduct, ongoing reclamation activities on networks and connections as well as specific renewal and upgrading operations; in sewerage, the ongoing implementation of the Rimini seawater protection plan (PSBO) while in the Marche region work began on the rehabilitation of the sewage network in the municipalities of San Costanzo and Petriano (Pesaro e Urbino province), which, once completed, will allow the area to overcome the EU infringement procedure; in purification, the adaptation and upgrading of the Ravenna and Lugo purification plants and the construction of the new plant with power-to-gas technology at the IDAR purification plant in Bologna, partially financed by PNRR funds. The integrated water cycle area accounted for 20% of Group Ebitda. Waste In the first half of 2024, Ebitda in the waste management area continued to rise, reaching 171.5 million euro (+5.3%), up from 162.9 million at June 30, 2023. Ebitda for waste treatment services reached 140.5 million, while Ebitda for environmental services including collection and sweeping increased to about 31 million, mainly due to the gradual implementation of new concessions. Compared to the same period in 2024, an increase was seen in waste commercialised, mainly due to the increase in market waste, thanks to the consolidation of existing business relationships and the development of the customer portfolio, particularly in the industry sector. Municipal waste, on the other hand, normalised compared to the previous year, which included extraordinary deliveries for flood waste. In the first half of 2024 as well, all main circular economy initiatives foreseen in the business plan continued to implement the objectives of environmental sustainability and value creation. The Hera Group can now count on more than 100 certified, state-of-the-art plants capable of treating all types of waste (municipal, industrial, and liquid and solid). Moreover, thanks to its sound management policies and the synergistic and operational integration between the Group’s various subsidiaries and ACR – one of Italy’s largest companies in the remediation, industrial waste treatment, decommissioning of industrial plants and civil works related to oil & gas sector, which recently entered the scope of consolidation – Hera has been able to sustain its growth in volumes treated and strengthen its presence, especially in the special waste market. The Hera Group, thanks to its large and diversified set of plants, continued to benefit from the infrastructural shortcomings of the Italian context, focusing on strengthening its leadership in the waste management sector and becoming the leading national operator in remediation and global service activities, with a widespread presence throughout the country. The Group, which also supports large companies in reducing and recycling waste, regenerating resources and achieving its ESG targets, has thus confirmed its role as a strategic partner for the ecological transition of the industrial sector. Protecting environmental resources was confirmed as a priority objective, as was the maximisation of their reuse. This is also proven by the special attention devoted to increasing sorted waste collection, which at 30 June 2024 stood at 74.3%, up 3.9 percentage points compared to the same period in 2023, thanks to the numerous projects implemented in the served areas. In the first half of 2024, gross investments made in the waste management area rose to 54.8 million euro, mainly involving maintenance and upgrading of waste treatment and recovery plants. In particular, in the selecting and recovery plants sector, an increase was due to the work done by the subsidiaries HEA, a company in partnership with Eni Rewind, and Vallortigara, for the expansion of the plant in Torrebelvicino (Vicenza province), as well as the construction of Aliplast’s rigid plastics processing plant in Modena, which has access to PNRR funding. The waste management area accounted for 23.4% of Group Ebitda. Hera Group 1H_2024 results approved.pdf 2024-07-31 12:57:00 sede_hera_110-2.jpg

sede_hera_110-2.jpg centrata Today, the Board of Directors of the Hera Group, one of Italy’s largest multi-utility companies operating in the waste management, energy and water sectors, approved the Climate Transition Plan, a document that presents the Group’s strategy and commitment to achieve Net Zero by 2050. This goal will be pursued as regards both direct and indirect greenhouse gas emissions, reducing them by 90% overall within 2050 (compared to 2019) and removing all residual emissions at the end of the path to decarbonisation. The Climate Transition Plan sets out the key aspects of the Group’s strategy over the short, medium and long term, consistently with the indications and trajectories outlined by the scientific community, starting with the 2015 Paris Agreement, to limit global warming to within 1.5°C at the end of the century, compared to pre-industrial figures. This document therefore presents the Hera Group’s vision and commitments for a sustainable future, quantifying its current and future impact in terms of emissions and illustrating both the internal decarbonisation levers that the company will activate to achieve Net Zero with the full involvement of all stakeholders, and the contribution coming from the evolution of the external scenario. Well integrated within the Group’s more general strategy, the definition of a long-term Net Zero objective contributes to the concrete form taken by its corporate purpose – which explicitly mentions the achievement of carbon neutrality – and is consistent with the decarbonisation commitments already undertaken by the Group with an outlook to 2030. The Hera Group’s strategy for Net Zero The Hera Group’s Climate Transition Plan specifies both the actions under the company’s direct control and the external factors expected from the evolution of the national and European energy scenario. Among the internal decarbonisation levers aimed at reducing its own emissions (Scope 1 and 2) and those of its customers (Scope 3), the Group expects to install carbon capture and storage (CCS) technology on several waste-to-energy plants (Scope 1); to maintain total coverage of internal electricity consumption with certified renewable energy, reducing Scope 2 emissions to zero; to progressively electrify the Group’s customer base and thus supply energy from renewable sources and propose energy-saving and photovoltaic power generation solutions (Scope 3). Externally, the trends of electrification and increased consumption efficiency, the penetration of renewable sources and the introduction of renewable gases into the national energy mix will favour the decarbonisation of the system as a whole, thus supporting a further reduction of the emissions included in Hera’s inventory. Lastly, the Group’s Net Zero strategy is rounded off by the use of tools to remove carbon dioxide from the atmosphere, to neutralise all residual emissions that cannot be further eliminated. Reaching the 2050 Net Zero target will significantly reduce the Group’s carbon footprint: in particular, Scope 3 emissions per energy customer will decrease from 3.3 tonnes in 2019 to less than 0.2 tonnes by 2050. Hera’s path towards reducing greenhouse gas emissions As early as 2021, the Group had defined decarbonisation targets for 2030, validated by the prestigious international network Science Based Targets initiative (SBTi) and in line with the “well-below 2°C” level, equivalent to -37% of absolute greenhouse gas emissions in 2030 compared to 2019. In 2023, overall, the Hera Group’s emissions for the defined perimeter had already decreased by 14% vs 2019. Now, with the Climate Transition Plan, the Hera Group “commits to achieving Net Zero emissions by 2050, through a reduction of Scope 1, 2 and 3 emissions by approximately 90% compared to 2019 and the removal of all remaining emissions at the end of the path to decarbonisation”. Hera Group first multiutility with Net Zero target.pdf 2024-07-31 11:37:00 sede_hera_110-2.jpg