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HeraGroup_110 Increasingly "smart" digital payments. This is the objective that the Hera Group has set itself to continue to improve and facilitate its relationship with its customers. An multi-faceted and challenging process for which the multi-utility has signed a cooperation agreement with UniCredit to develop a "Virtual Account" service, which will promote a significant simplification of payments and of the related book-keeping. Under this agreement, the bank has generated 6 million dedicated "virtual" IBANs that Hera - the first company in Italy to do so on a large scale - will make available to each customer, in their bill or invoice. As a result, customers will be able to pay conveniently from their online bank account, without waiting in queues, and with an automatic and unambiguous acknowledgement of the payment. UniCredit will then credit the multi-utility's account with all incoming transfers, regardless of their type, and send the company a statement of the transactions carried out. In addition to the "virtual" IBAN system, Hera is developing additional mobile payment methods for its customers, such as digital wallets, to make transactions increasingly easy, straightforward and user-friendly. Hera has thus consolidated its position as one of the most focused and innovative companies in adopting advanced digitalisation solutions, also aimed at constantly improving the customer experience. The initiative belongs to its more extensive process of digitalising infrastructures and services that the Hera Group initiated some time ago, with the goal, among others, of identifying and responding to the needs of an increasingly "connected" and demanding clientele. The process supports the objectives of the UN Agenda for 2030, and is also entirely consistent with the European Union's strategy on the creation of a digital single market based on three pillars: improving access to digital goods and services for consumers and businesses, creating an environment conducive to the development of digital networks and services, and maximising the growth potential of the digital economy. HeraGroup_870 HeraGroup_870 20180723_smart_payments_agreement_with_UniCredit_for_6_million_digital_accounts.1534760361.pdf 2018-08-20 sede_Gruppo_Hera_4505.1534760417.jpg The agreement with UniCredit, the first of its kind in Italy, will make available a "virtual" IBAN to each of the multi-utility's customers, thus greatly facilitating payments and increasing cost efficiency. For Hera, the initiative is part of its overall service digitalisation process, to provide more payment options for customers and to respond to an increasingly "connected" and demanding clientele HeraGroup_870 Read more HeraGroup_110

GH-Lepida_110 In case of emergency, the last thing you need is an emergency logic. This is why the Hera Group, with Acantho - Digital Company of the Group, and Lepida have decided to carry on, by signing an important strategic collaboration agreement in the field of civil protection which contributes to improving the safety of the reference territories. Following a memorandum of understanding previously signed by the Region and the multi-utility, the agreement concerns the strengthening of the Regional Radiomobile Network (ERretre), the digital cellular network based on the European TETRA standard that supports all emergency services, guaranteeing efficiency and security of communications, from which the safeguard of the territory and the security of the local communities depend. Thanks to the agreement, Hera will initially make three of its sites available to Lepida, with which additional radio equipment will be installed that can increase the ERretre network and improve its efficiency. In particular, the sites identified are three piezometric reservoirs located in San Lazzaro di Savena in Bologna, and in Alfonsine and Cervia in the Ravenna area. In turn, the multi-utility can use the ERretre network to support its emergency services, improving the flow of communications to the Civil Protection and other bodies. In this way it will be possible to increase the overall level of functional integration among all the players who are in charge of various critical situations in the area. A key role was played by Acantho, Digital Company of the Hera Group, which has worked to set the scene for the signing of the agreement and will supply the TETRA standard radio terminals necessary to use the ERretre network. The Hera Group has always been committed to collaborating with the relevant public bodies, thus confirming its historic vocation to continuously improve its work. The agreement with Lepida, more precisely, is fully inscribed within the framework of a medium and long-term planning thanks to which the multi-utility, also in the face of particularly critical situations such as the drought events of 2017 or the bad weather in the Apennines of the winter just ended, aims to guarantee quality and continuity of the services provided, in the interests of the environment and local communities. GH-Lepida_870 20180702_Hera_signs_with_Lepida_for_the_use_of_the_ERretre_mobile_radio_network.1563281077.pdf 2019-07-16 GH_Lepida_870.1563281076.png A strategic collaboration that aims to increase the resilience of the regional territory in the field of civil protection: the multi-utility, in fact, will be able to use the ERretre regional mobile radio network to support its emergency services, making three of its sites already available to Lepida for the implementation of other radio installations, to further consolidate the existing network. Among these is the piezometric tank of San Lazzaro di Savena in Bologna read more GH-Lepida_110

scolarships_110 Hera Group repeated its commitment to support the school-age children of its employees and enriched the programme once again, for 2018. In fact, in addition to the 40 scholarships provided for the second year in a row to the most deserving university students, this year ten more have been added for high school students, who will be able to participate in study experiences abroad in collaboration with the Intercultura foundation. The initiative, launched to reward scholastic achievement based onto principles of fairness and meritocracy, as well as the ability to rise to challenges right from the educational stage, reached its conclusion today as prizes were awarded during a ceremony held in Bologna, at the Spazio Hera, attended by the Executive Chairman, Tomaso Tommasi di Vignano. The forty most deserving university students were identified by an excellence ranking drawn up according to the following parameters: being on schedule with the 2016-2017 academic year exam deadlines, the number of credits obtained and the average number of exams passed during the year. The company received more than 170 applications (more than twice as many as last year). Each of the 40 winners (graduates and undergraduates in economics, engineering, humanities and medicine) was awarded an individual scholarship worth 750 euro, for a total of 30,000 euro invested by the company. Among the winners there were also students studying abroad: a way to support a more complex life choice and to stimulate value creation, determined by acquiring experience in a range of settings. For high school students, on the other hand, the selection was carried out entirely by Intercultura's experts and consisted of aptitude tests, individual and group interviews, a meeting with the family and a health check-up. The ten winners were awarded 2,000 euro grants that will support the cost of attending a one-month study period abroad in Europe (UK, Finland and Denmark are the most popular destinations), the US (Washington is the favourite location) and South America (Argentina). scolarships_870 20180621_scholarships_for_the_children_of_its_employees.1534759933.pdf 2018-08-20 Read more borsedistudio_870.1534759932.jpg In addition to the 40 scholarships of 750 euro each awarded for the second year in a row to the most deserving university students, ten 2,000 euro scholarships were also awarded to high school students to help them participate in study experiences with Intercultura. The initiative, backed by a total investment of 50,000 euro, is part of "HExtRA", the multi-utility's corporate welfare plan scolarships_110

sachs_110 Among the conference guests there was Prof Jeffrey Sachs, of Columbia University, who played an important role in drawing up the Sustainable Developments Goals identified by the UN Agenda for 2030, which the Hera Group has chosen as a guideline for its commitment to sustainability. In its sustainability report, in fact, the multi-utility reports the shared value, i.e. the portion of EBITDA that comes from activities that generate operating margins for the company and also meet 10 of the 17 sustainability objectives set out in the Global Agenda. This share, up 10% compared to 2016, amounted to 329 million euro in 2017 (1/3 of total EBITDA) and the objective is to increase it to 40% of the EBITDA by 2021, thus contributing more and more to the needs of the area it serves and to the challenges for change. The investments already made were quite significant, and in 2017 alone contributed to generating the shared value of 200 million euro, i.e. 41% of the total. Among the main measures, there was the construction in Sant'Agata Bolognese of an important plant to produce biomethane from organic waste. In addition, the development of waste recycling through the Aliplast and Waste Recycling companies is also essential in order to fully implement the circular economy. The upgrade of the wastewater treatment service, the digitalisation of services from a Utility 4.0 perspective and, lastly, investments in innovation to make networks increasingly smart, complete the picture. [block]div:row-fluid::db:hr_press_comunicazione::box:111[/block] Moreover, in the new edition of the Sustainability Report, which from this year also offers useful food for thought on the national and international scenario, shared value has become the true hub around which Hera has organised the document's entire content, so as to highlight the contribution that the various activities make to its generation. The information contained in the report is divided into three main areas: smart use of energy, efficient use of resources, innovation and contribution to local development. 2017 Sustainability report embraces shared value https://www.youtube.com/watch?v=vRUqhHO3MGI 20180604_Sustainability_a_Hera_conference_in_Bologna_to_rethink_development.1533303274.pdf 2018-08-01 Read more valore_condiviso_870x320_eng.1533281374.png At the European Week for Sustainable Development, the multi-utility relaunches the debate on the challenges facing companies, countries and the international community, and illustrates the excellent results contained in its sustainability report, with almost 2 billion euro distributed by Hera in 2017 alone to local stakeholders and suppliers. Among the guests there was also Prof Jeffrey Sachs, one of the proponents of the UN's sustainability objectives, to which Hera contributed around 330 million euro of shared-value EBITDA last year alone sachs_110

sedeGH_110 Today, the Hera Group formalised an agreement with four credit institutions to activate a new € 200 million sustainable revolving credit line, intended to contribute to and maintain its financial solidity while at the same time enhancing the mix of financial products and instruments adopted by the company. This agreement is the first of its kind in Italy. The new credit line, named “ESG Linked RCF Facility”, introduces elements of sustainability through a bonus mechanism tied to specific environmental, social and governance objectives (ESG). In the commitment signed with the banks, indeed, a number of ESG performance measures were defined, which will determine the Group’s ability to benefit over time from more favourable rates. The sustainability objectives concern, for example, further reductions in the carbon footprint from energy production, new targets in energy efficiency and improvements in sorted waste collection. Hera has been a leader in all these areas for some time, as is recorded in its latest sustainability report, which at 2017 showed a 16% fall in the carbon footprint, a 3.6% reduction in the Group’s own energy consumption since 2013, with the goal of reaching a 5% decrease within 2020, and sorted waste at 57.7%, above the national average. After launching Italy’s first green bond in 2014, the Hera Group thus confirms its role as a pioneer in identifying innovative financial instruments linked to sustainability. "Environmental, social and governance objectives have long been a significant part of our Group's strategic planning", comments Stefano Venier, Hera's CEO, "and contribute to charting our course, in line with the goals set out in the UN's 2030 Agenda. We therefore consider it to be natural, perhaps even inevitable, for our financial instruments as well to reflect this vision, in addition to respecting the market's increasing sensitivity towards ESG issues. Hera has proven able to keep in step with this renewal in basic terms, interpreting the changes currently underway and providing itself with innovative models that now allow it not only to be appealing for the market, but also to explore paths that have never been followed before". In defining the agreement, the Hera Group collaborated with Vigeo Eiris, a leading European social and environmental rating agency. Vigeo Eiris formulated a second-party opinion concerning the importance of the measures defined and the degree of future improvements that can be expected as regards these same measures, which will determine the success of the operation. Hera was sustained within the club deal by: BBVA acting as Sustainable Coordinator, BNP Paribas and UniCredit acting as Documentation Agents, Crédit Agricole CIB acting as Facility Agent. All financial institutions acted also as Mandated Lead Arrangers. Sede Hera 20180517_press_release.1526553280.pdf 2018-05-17 Read more Sede Hera After launching the first green bond in 2014, the Group now confirms its place at the nations' forefront in the use of new sustainable financial instruments. Signed with four financial institutions, the € 200 million credit line is linked to a system of bonuses subject to reaching specific goals in environmental sustainability /group_eng/investor-relations/debt-and-rating/bond-issuances /group_eng/investor-relations/hera-strategy Hera Green Bond Hera Group strategy and shared value centrata sedeGH_110

2018-05-17 Stefano_Venier.1534258940.jpg After launching the first green bond in 2014, the Group now confirms its place at the nations' forefront in the use of new sustainable financial instruments. Signed with four financial institutions, the € 200 million credit line is linked to a system of bonuses subject to reaching specific goals in environmental sustainability. Hera SpA "Environmental, social and governance objectives have long been a significant part of our Group's strategic planning", comments Stefano Venier, Hera's CEO, "and contribute to charting our course, in line with the goals set out in the UN's 2030 Agenda. We therefore consider it to be natural, perhaps even inevitable, for our financial instruments as well to reflect this vision, in addition to respecting the market's increasing sensitivity towards ESG issues. Hera has proven able to keep in step with this renewal in basic terms, interpreting the changes currently underway and providing itself with innovative models that now allow it not only to be appealing for the market, but also to explore paths that have never been followed before". In defining the agreement, the Hera Group collaborated with Vigeo Eiris, a leading European social and environmental rating agency. Vigeo Eiris formulated a second-party opinion concerning the importance of the measures defined and the degree of future improvements that can be expected as regards these same measures, which will determine the success of the operation. Hera was sustained within the club deal by: BBVA acting as Sustainable Coordinator, BNP Paribas and UniCredit acting as Documentation Agents, Crédit Agricole CIB acting as Facility Agent. All financial institutions acted also as Mandated Lead Arrangers. Hera SpA 17052018_press_release_revolving_credit.1526646602.pdf 2017-06-23 sinistra 13:00:00 Hera SpA Read more CMV Servizi and CMV Energia e Impianti's energy activities part of the Hera Group as of 1 March

2018-05-10 Results as at 31 March 2018 The consolidated quarterly report at 31 March shows growth in all operating and financial indicators, with a positive contribution coming from all business areas and further improvement in net debt. Hera BoD approves 1Q 2018 results /documents/1514726/4880892/GruppoHera_relazione_trimestrale_consolidata_al_31_03_2018_eng.1525946951.pdf/eb209a34-d9c9-040c-9f99-624083c0090a?t=1610019058696 /documents/1514726/4667212/Dati_finanziari_ed_operativi_di_sintesi_1Q_2018_eng.1525768847.xls/0def4519-5b1f-7457-26b8-3919a059699f?t=1608550138175 /documents/1514726/4667212/GruppoHera_Analyst_Presentation_1Q_2018.1525940338.pdf/8f6496cb-d392-7c7f-01a3-43a2f3de9304?t=1608550138945 /group_eng/investor-relations/results-and-presentations/archive/financial-benchmark http://investornews.gruppohera.it/en/?n=55 Financial results as at 31 March 2018 Financial data as at 31 March 2018 Analyst presentation: financial results as at 31 March 2018 Benchmark of consolidated results Newsletter: financial results as at 31 March 2018 Financial highlights Revenues at € 1,741.3 million (+10.4%) Ebitda at € 322.7 million (+5.2%) Net profits for shareholders at € 120.5 million (+9.6%) Net debt decreased, coming to € 2,502.1 million Operating highlights Good contribution to growth coming from the main businesses, and the gas area in particular Solid customer base in Energy, increasing to roughly 2.4 million customers Management geared towards extracting efficiencies and expansion Today, the Hera Group’s Board of Directors unanimously approved the consolidated operating results for the first quarter of 2018, which confirm the ongoing positive trend and show rises in all main performance measures. These results were achieved thanks to the Group’s time-tested multi-business strategy, balanced between regulated and free market activities. This model was pursued by calibrating internal growth with the opportunities offered by the market and external development. In particular, the changes in the scope of operations witnessed during the first quarter were due to the consolidation of the Aliplast Group and Verducci Servizi, the transfer of Medea to Italgas and the exclusion of waste collection and street sweeping services in the Forlì area. M&As, instead, were concentrated above all in the energy area, with the acquisitions of Blu Ranton and 49% of Sangroservizi, in addition to 13,000 new “maggior tutela” customers served in the municipality of Gorizia through EnergiaBaseTrieste. Revenues amount to roughly € 1.74 billion Revenues for the first quarter of 2018 came to € 1,741.3 million, increasing compared to the € 1,577.8 million seen in the same period of 2017. A larger amount of commodity trading and higher revenues coming from gas and electricity sales were mainly responsible for this result, as were revenues from the waste management area and energy efficiency certificates. Ebitda rises to € 322.7 million Ebitda went from € 306.8 million in the first quarter of 2017 to € 322.7 in the same period of 2018, recording an increase of almost € 16 million (+5.2%). While this growth is due to the good performances seen in the Group’s main areas, the gas area contributed in particular, thanks to higher volumes sold and an increase in income from trading. Operating results and pre-tax profits increase, financial management improves Operating profits at 31 March 2018 came to € 197.6 million, up compared to the € 187.3 million recorded at the same date in 2017 (+5.5%). A € 5.6 million improvement was seen in financial management, coming to € 17.5 million at the end of the first quarter, thanks to efficiency in interest rates and higher income for interest derived from safeguarded customers. In light of this situation, pre-tax profits went from € 164.2 million in the first three months of 2017 to € 180.1 million in the same period of 2018, showing an increase in the rate of growth, which came to +9.7%. Net profit for shareholders grow to € 120.5 million (+9.6%) Net profit at 31 March 2018 rose to € 125.9 million, up compared to the € 115.3 million seen in 2017. € 120.5 million is the profit pertaining to Group shareholders, which increased by € 10.6 million over the € 109.9 million in the same period in 2017. These results, corresponding to a tax rate of 30.1%, are due to the Group’s continuous commitment to grasping opportunities recognised by law regarding the amortisation of the consistent investments made in a move towards Utility 4.0, in addition to tax credits for research and development and the final balance of previously acquired benefits. Roughly € 85 in investments, and a slightly improved net debt In the first three months of 2018, Group investments amounted to € 84.6 million, including the acquisitions made in the companies Blu Ranton and Sangroservizi. Operating investments grew by 5.9% and mainly concerned interventions on plants, networks and infrastructures, in addition to investments in an extensive meter substitution and in the purification and sewerage areas. Net debt improved for the third consecutive quarter, coming to € 2,502.1 million (compared to the € 2,523.0 million recorded at 31 December 2017). This was due to a positive and increasing cash generation, which among other things allowed the recent acquisitions to be financed. The 12-month rolling net debt/Ebitda ratio settled at 2.5, pointing towards further improvement in financial solidity. Gas Ebitda for the gas business, which covers services in natural gas and LPG distribution and sales, district heating and heat management, came to € 148.2 million in the first quarter of 2018, an increase over the € 135.6 million recorded at 31 March 2017 (+9.3%), thanks to higher volumes of gas sold, a rise in trading volumes and the larger scope of operations for this service. The number of gas customers rose to 1.4 million, up 1.1% over the same period in 2017, thanks to marketing initiatives. The gas business accounted for 45.9% of Group Ebitda. Water cycle Ebitda for the integrated water cycle, which covers aqueduct, purification and sewerage services, went from € 53.3 million in the first quarter of 2017 to € 55.6 million in the same period of 2018 (+4.3%), thanks above all to higher revenues from dispensing. These results also benefited from “quality premium”, granted by the regulatory authorities based on current methods for tariff calculation. The integrated water cycle accounted for 17.2% of Group Ebitda. Waste management Ebitda for the waste management business, which covers services in waste collection, treatment, recovery and disposal, went from € 64.0 million in the first quarter of 2017 to € 66.5 million at 31 March 2018 (+3.9%). This trend is mainly due to the encouraging results achieved in the area of waste treatment, which followed positive market trends. Good results were also seen in sorted waste, which rose to 59.5% compared to the 57.5% recorded in the first three months of 2017, thanks to the many projects launched over all areas served. The waste management area accounted for 20.6% of Group Ebitda. Electricity Ebitda for the electricity business, which covers services in electricity production, distribution and sales, showed a slight drop, going from € 48.4 million in the first quarter of 2017 to € 45.3 million at 31 March 2018, owing to the temporary suspension of some plants for planned maintenance. In spite of this, electricity reached the goal of 1 million customers for the first time, rising 10.6% over the first quarter of 2017, and also saw a 23.7% overall increase in volumes sold, with considerable growth in both the free and safeguarded markets. This significant result is due to the Group’s continuous reinforcement of marketing initiatives and the enlargement of its customer base. The electricity area accounted for 14% 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 quarterly management report and related materials are available to the public at Company Headquarters and on the website www.gruppohera.it. Unaudited extracts from the Interim Financial Statements at 31 March 2018 are attached. Profit & Loss (m€) 31/03/2018 Inc% 31/03/2017 Inc.% Ch. Ch. % Sales 1,741.3 1,577.8 +163.5 +10.4% Other operating revenues 95.3 5.5% 89.8 5.7% +5.5 +6.1% Raw material (831.4) -47.7% (732.2) -46.4% +99.2 +13.5% Services costs (538.5) -30.9% (488.8) -31.0% +49.7 +10.2% Other operating expenses (12.7) -0.7% (12.0) -0.8% +0.7 +5.8% Personnel costs (140.0) -8.0% (137.2) -8.7% +2.8 +2.0% Capitalisations 8.7 0.5% 9.4 0.6% -0.7 -7.5% Ebitda 322.7 18.5% 306.8 19.4% +15.9 +5.2% Depreciation and provisions (125.0) -7.2% (119.6) -7.6% +5.4 +4.5% Ebit 197.6 11.3% 187.3 11.9% +10.3 +5.5% Financial inc./(exp.) (17.5) -1.0% (23.1) -1.5% -5.6 -24.3% Pre tax profit 180.1 10.3% 164.2 10.4% +15.9 +9.7% Tax (54.2) -3.1% (48.9) -3.1% +5.3 +10.8% Net profit 125.9 7.2% 115.3 7.3% +10.6 +9.2% Attributable to: Shareholders of the Parent Company 120.5 6.9% 109.9 7.0% +10.6 +9.6% Minority shareholders 5.4 0.3% 5.4 0.3% -0.0 -0.1% Balance Sheet (m€) 31/03/2018 Inc.% 31/12/2017 Inc.% Ch. Ch.% Net fixed assets 5,792.4 109.1% 5,780.6 110.5% +11.8 +0.2% Working capital 92.3 1.7% 23.2 0.4% +69.1 +297.8% (Provisions) (576.7) (10.8%) (574.9) (10.9%) (1.9) +0.3% Net invested capital 5,308.0 100.0% 5,229.0 100.0% +79.0 +1.5% Net equity 2,805.9 52.9% 2,706.0 51.7% +99.9 +3.7% Long term net financial debt 2,739.9 51.6% 2,735.4 52.4% +4.5 +0.2% Short term net financial debt (237.8) )4.5%) (212.4) (4.1%) (25.4) +12.0% Net financial debts 2,502.1 47.1% 2,523.0 48.3% (20.9) (0.8%) Net invested capital 5,308.0 100.0% 5,229.0 100.0% +79.0 +1.5% Press release 1Q2018 2017-05-08 11:30:53 Hera BoD approves 1Q 2018 results

2018-04-26 Improvement seen in all operating-financial and sustainability indicators, with results exceeding expectations and a renewed commitment to creating shared value. Appointment of Alessandro Melcarne, co-opted last November as member of the Board of Directors, confirmed. Hera Shareholders Meeting Hera's Ordinary Shareholders Meeting called to approve the 2017 financial statements was held in Bologna this morning. Furthermore, the 2017 sustainability report (a consolidated non-financial statement drafted pursuant to legislative decree 254/2016) was presented and the appointment of Alessandro Melcarne, priorly co-opted as member of the Board of Directors during the session held on 8 November 2017, was confirmed. Approval of the financial statements and a dividend rising to 9.5 cent/share In the Ordinary session, the Shareholders Meeting approved the balance sheets pertaining to 2017, which showed improvement in all operating-financial indicators, with results exceeding expectations: turnover reached € 6,136.9 million, up 10.3% over the previous year, Ebitda came to € 984.6 million (+7.4%) and net profits amounted to € 266.8 million (+21.1%). In 2017, overall Group investments, including capital grants, came to € 440.5 million (+14% compared to 2016). Net debt improved, amounting to € 2,523 million and the net debt/EBITDA ratio saw a further decrease compared to the previous year, settling at 2.56, thanks to growth in operating results and the reduction in net debt. These results are particularly positive, and confirm the validity of the Group's multi-business strategy, which allows the company to successfully balance regulated and free-market activities in addition to maintaining a sustainable risk profile. The combination of two fundamental levers, internal growth and external development, moreover allowed the Group to continue expanding, owing to factors including its ability to anticipate and grasp the best opportunities seen within an increasingly challenging regulated and market scenario, whose development models are progressively evolving. These results, in line with the content of the Business Plan to 2021, are the crowning achievement of the multi-utility's 15 years of activity, which have seen it reach significant goals: from a quintupled Ebitda to net profits that have grown by almost 8 times compared to 2002, without counting the 25 acquisitions completed, producing remarkable synergies. The Meeting then approved the Board of Directors' proposal to pay a 9.5 cent/share dividend, showing an increase over the past and in line with what had previously been announced in the Business Plan to 2021. The ex coupon date has been set at 18 June 2018, with payment beginning on 20 June 2018. The dividend paid, based on the price of Hera stock at 31/12/2017, corresponds to an annual return of over 3%. This confirms once again the Group's high degree of attention towards the creation of shared value, as indicated in the recent Business Plan, which calls for a policy of rising dividends compared to the Group's historical trend, with a further increase foreseen reaching 10 cent/share in 2018 and 2019, and coming to 10.5 cents in 2020 and 2021. The results achieved, the business model's resilience and the solid bases of the Business Plan, it is worthwhile noting, all recently allowed the Hera Group to obtain a revision of the company's outlook rating from Standard & Poor's, going from stable to positive. An entirely renewed sustainability report, with shared value Ebitda coming to € 329 million The 2017 sustainability report was also presented during the Meeting: entirely renewed from every angle, regarding both editorial criteria and content, it brings to light an increasingly strong attention towards the creation of shared value. This is accomplished by recording business activities that, in addition to generating operating income for the company, are also in line with the drivers for sustainable growth set out in the UN Agenda. More specifically, the Hera Group's shared value Ebitda amounted to € 329 million, up 10% over the previous year. This result perfectly matches the path marked by the Business Plan, which expects this value to reach 40% by 2021. Furthermore, in 2017 the Group also invested roughly € 200 million (approximately 41% of total investments) in the development of shared value. A rise was also seen in the overall wealth distributed in local areas, benefiting workers, shareholders, financers, banking institutions, public administrations, local communities and suppliers. This wealth came close to 2 billion euro in 2017, showing a 6.5% growth over 2016, with positive consequences for local economies and employment rates. The main interventions involved producing biomethane from the organic portion of waste, developing waste recycling, upgrading the wastewater purification service and digitalising services in a move towards utility 4.0. With sorted waste rising to 57.7% of the total, the Hera Group has continued reducing the use of landfills, which decreased to 7% as compared to the European target of 10% within 2035. An excellent performance was moreover seen in packaging recycling, which reached 68%, already over the European target of 65% by 2025. The strategic companies in recovering materials were Waste Recycling and Aliplast: in 2017 alone, the latter's plants in fact produced roughly 103 thousand tonnes of recycled plastic. The Group continues to show commitment to decarbonisation, with a 16% reduction in the carbon footprint in energy production compared to 2015. In the area of energy efficiency, the interventions implemented allowed the company to decrease its own energy consumption by 3.6% compared to 2013, surpassing the target of 3% and approaching the 5% set for 2020. Furthermore, for all the activities it manages in the Emilia-Romagna region, as of 2017 Hera has been using exclusively renewable energy, a choice made this year by AcegasApsAmga and Marche Multiservizi as well. Moreover, 67.5% of the energy produced by the Group itself comes in turn from renewable sources and cogeneration. Other resolutions approved The Meeting approved the renewal of its 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 renewal of authorisation was requested to pursue the aims provided for by current regulations and accepted market practices, including investment opportunities entailing the use of treasury shares to increase the creation of value, any acquisitions of holdings that may involve equity trading, and transactions involving financial instrument issuance. The Meeting furthermore approved the remuneration policy report, in line with international best practices. Lastly, the report on corporate governance was presented to the Meeting. The appointment of Alessandro Melcarne as member of the BoD confirmed The meeting lastly confirmed the appointment of Alessandro Melcarne as member of the Board of Directors of Hera S.p.A. Melcarne had previously been appointed by cooptation during the Board of Directors meeting held on 8 November 2017, substituting the resigning Aldo Luciano, and will remain in office until the date set for the appointment of the next Board of Directors, i.e. until the Meeting called to approve the financial statements for 2019. Director Melcarne confirmed that he meets the independence requisites foreseen by law and does not hold any shares in Hera S.p.A. His CV can be consulted on the website www.gruppohera.it, within the Corporate Governance/BoD section. Hera Shareholders Meeting press_release_hera_shareholders_meeting_2018.1524735826.pdf 2017-06-23 13:15:59 Hera Shareholders Meeting Read more Hera Shareholders Meeting

LUOTW_110 The Hera Group - Italy's second operator in the water cycle, with 300 million m 3 of water sold and 3.6 million citizens served - has now become part of the Leading Utilities of the World (LUOW), a network that brings together the planet's most innovative and successful companies in the water and wastewater sector and aims at promoting shared knowledge, projects and new objectives, in addition to favouring collaboration. This new entry came about during the 2018 Global Water Summit, which was brought to a close yesterday in Paris. Hera is Italy's first operator to obtain this recognition, which chronologically follows its membership in the CEO Water Mandate, an initiative launched by the Global Compact of the United Nations and designed to encourage companies to show greater commitment in sustainable water management. In order to become part of the LUOW, the Hera Group passed the four phases involved in selection. The company was requested to provide extensive documentation proving its commitment and innovative contribution to managing water and wastewater activities. Following an additional phase of dialogue with the evaluation committee, which took place in France during the last few days, the Group became the twenty-eighth company to join the network. Hera thus confirms the international status of its activities, which for some time now - as recorded in detail in its sustainability report - have been fully in line with the path set out by the European Union and the UN's 2030 Global Agenda. The water sector, after all, is the area in which Hera has always concentrated the majority of its investments, coming to an average of more than 110 million per year over the last five years. This allows the Group to maintain over 53 thousand km of network in good health, in addition to approximately 900 production, treatment and purification plants. All users are thus provided with safe and inexpensive water, guaranteed by over 2 thousand analyses per day and capable of successfully overcoming periods of serious drought, such as the one seen during 2017. One of the strong points of Hera's integrated water service lies in its orientation towards innovation, with cutting-edge solutions based on automation and remote control of networks and plants, to guarantee continuity in supply and maintain leakage in its networks among the lowest in the country. This context includes, for example, the development of a technique involving satellite research for water leaks that Hera, the first to do so in Italy, developed in collaboration with the Israeli company Utilis, significantly increasing the amount of water recovered. Acting together with the National Health Institute, moreover, Hera is currently implementing the Water Safety Plans, a European protocol for monitoring all phases involved in drinking water production and distribution. LUOTW_870 https://www.leadingutilities.org/ press_release_leading_utilities_.1524143605.1524149783.pdf 2018-04-19 Read More Hera_SpA_2380_GWI_870.1524149606.jpg The first Italian company to be admitted within this network, Hera confirms the international standing of its activities in the water cycle, reflecting its participation in the Global Compact's CEO Water Mandate and its entry as part of the CE100. The Group's commitment takes concrete shape with over 110 million invested in the sector each year /group_eng/sustainability/thematic-reports/in-good-waters /group_eng/business-activities/water https://www.leadingutilities.org/ In good waters - thematic report on water quality Water: Hera Group's key figures Water: Hera Group's key figures - external link - the link will open in a new window Visit the Leading Utilities of the World website LUOTW_110

2018-04-18 Hera_SpA_2380_GWI_870_1524149606.1533218688.jpg The first Italian company to be admitted within this network, Hera confirms the international standing of its activities in the water cycle, reflecting its participation in the Global Compact's CEO Water Mandate and its entry as part of the CE100. The Group's commitment takes concrete shape with over 110 million invested in the sector each year. Hera SpA The Hera Group - Italy's second operator in the water cycle, with 300 million m3 of water sold and 3.6 million citizens served - has now become part of the Leading Utilities of the World (LUOW), a network that brings together the planet's most innovative and successful companies in the water and wastewater sector and aims at promoting shared knowledge, projects and new objectives, in addition to favouring collaboration. This new entry came about during the 2018 Global Water Summit, which was brought to a close yesterday in Paris. Hera is Italy's first operator to obtain this recognition, which chronologically follows its membership in the CEO Water Mandate, an initiative launched by the Global Compact of the United Nations and designed to encourage companies to show greater commitment in sustainable water management. In order to become part of the LUOW, the Hera Group passed the four phases involved in selection. The company was requested to provide extensive documentation proving its commitment and innovative contribution to managing water and wastewater activities. Following an additional phase of dialogue with the evaluation committee, which took place in France during the last few days, the Group became the twenty-eighth company to join the network. Hera thus confirms the international status of its activities, which for some time now - as recorded in detail in its sustainability report - have been fully in line with the path set out by the European Union and the UN's 2030 Global Agenda. The water sector, after all, is the area in which Hera has always concentrated the majority of its investments, coming to an average of more than 110 million per year over the last five years. This allows the Group to maintain over 53 thousand km of network in good health, in addition to approximately 900 production, treatment and purification plants. All users are thus provided with safe and inexpensive water, guaranteed by over 2 thousand analyses per day and capable of successfully overcoming periods of serious drought, such as the one seen during 2017. One of the strong points of Hera's integrated water service lies in its orientation towards innovation, with cutting-edge solutions based on automation and remote control of networks and plants, to guarantee continuity in supply and maintain leakage in its networks among the lowest in the country. This context includes, for example, the development of a technique involving satellite research for water leaks that Hera, the first to do so in Italy, developed in collaboration with the Israeli company Utilis, significantly increasing the amount of water recovered. Acting together with the National Health Institute, moreover, Hera is currently implementing the Water Safety Plans, a European protocol for monitoring all phases involved in drinking water production and distribution. Hera SpA press_release_leading_utilities_.1524143605.pdf 2017-06-23 12:14:59 2020 Integrated Governance Index: Hera once again ranked at the top of sustainable finance Read more 2020 Integrated Governance Index: Hera once again ranked at the top of sustainable finance

2018-04-06 Hera_Italgas870_1513853697.1533218766.jpg All conditions set forth in the agreement having been fulfilled, the 100% divestment of the company holding concessions for gas distribution and sales in the city of Sassari has been completed. Hera thus continues in its process of rationalizing the Group's holdings. Hera SpA Hera and Italgas completed today in Milan the transfer of 100% of Medea S.p.A., the company holding the concession for gas distribution and sales in the city of Sassari. This acquisition follows up on the binding agreement signed by the parties on 21 December 2017 and results from all conditions set forth in the contract having been met. Medea's overall enterprise value was set at € 24.1 million. The entire price was paid on a cash basis, net of debt. This transaction is part of a larger process through which the Hera Group is rationalising its holdings and concentrating on its own reference territories. The baton was handed to Italgas, Italy's main operator in the gas distribution sector, following a fruitful twenty-year collaboration between Hera and the municipals administrations in office over this period of time, which allowed Medea to be transformed into the largest company of its kind in Sardinia. Thanks to investments reaching over 20 million euro in favour of this area, the company now serves approximately 13,000 customers, all of whom reside in the city centre of Sassari and to whom it distributes a volume of over 5 million m3 per year. Hera SpA press_release_aprile_2018_medea_italgas.1523006520.pdf 2017-06-23 13:44:59 2020 Integrated Governance Index: Hera once again ranked at the top of sustainable finance Read more 2020 Integrated Governance Index: Hera once again ranked at the top of sustainable finance

Tommasi_Galli_Venier110 Hera and Italgas completed today in Milan the transfer of 100% of Medea S.p.A., the company holding the concession for gas distribution and sales in the city of Sassari. This acquisition follows up on the binding agreement signed by the parties on 21 December 2017 and results from all conditions set forth in the contract having been met. Medea's overall enterprise value was set at € 24.1 million. The entire price was paid on a cash basis, net of debt. This transaction is part of a larger process through which the Hera Group is rationalising its holdings and concentrating on its own reference territories. The baton was handed to Italgas, Italy's main operator in the gas distribution sector, following a fruitful twenty-year collaboration between Hera and the municipals administrations in office over this period of time, which allowed Medea to be transformed into the largest company of its kind in Sardinia. Thanks to investments reaching over 20 million euro in favour of this area, the company now serves approximately 13,000 customers, all of whom reside in the city centre of Sassari and to whom it distributes a volume of over 5 million m3 per year. Hera-Italgas870 press_release.1523003727.pdf 2017-12-21 Read more Hera_Italgas870.1513853697.jpg All conditions set forth in the agreement having been fulfilled, the 100% divestment of the company holding concessions for gas distribution and sales in the city of Sassari has been completed. Hera thus continues in its process of rationalizing the Group's holdings Read more Tommasi_Galli_Venier110

2018-04-04 Publication of the draft Separate and consolidated financial statements at 31/12/2017, the Sustainability report - consolidated non-financial statement and Shareholders meeting documentation Kindly note that the following documents, approved by the Board of Directors, have been made available to the public at company headquarters, on the website www.gruppohera.it and on the authorised storage platform 1INFO (www.1Info.it): folder containing the draft Separate and consolidated financial statements at 31/12/2017; Sustainability report - consolidated non-financial statement drafted pursuant to decree 254/2016. In the same form, the following documents are also available: the Hera S.p.A. Board of Directors' Explanatory report for item 2 on the Agenda; the Hera S.p.A. Board of Directors' Explanatory report for item 3 on the Agenda. press_release_pubblication_report.1522854149.pdf 2018-04-04 18:56:42 Hera Spa