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The year ended positively, despite the nationwide impact coming from the Coronavirus emergency, during which Hera stood by its stakeholders and provided support. Thanks to its solid, efficient and sustainable multi-business strategy, Hera thus continued to grow and create value for shareholders and local communities The Hera Group closed the 2020 financial year positively, as well as in all quarters, even during a particularly difficult year on account of the Coronavirus emergency. The Group’s Board of Directors unanimously approved the consolidated economic results along with the Sustainability report. Thanks to its solid and efficient multi-business model, and good operating, financial and fiscal management, Hera succeeded in maintaining growth in its results while at the same time supporting its stakeholders. Even during the lockdown, indeed, Hera guaranteed continuity, safety, quality and efficiency in all services and also provided help not only for its own employees but also its customers, suppliers and local communities. This consisted first in allowing customers to pay with delays or by instalments and offering reverse factoring to small and medium businesses, and later participating in specific solidarity initiatives across the areas served. These initiatives were appreciated by customers, as appears in the recent customer satisfaction poll which, despite the difficult external context, confirmed a high customer satisfaction rate (73/100), with approval of the management and services provided during the emergency coming to 85/100. The Hera Group succeeded in continuing along the path of uninterrupted growth seen since its establishment in 2002, once again leveraging its own strategy: a balanced mix of internal and external growth, with significant economies of scale and higher synergies than expected. All of this while continuously striving to create value for its stakeholders, respecting the directions set out by the new Business Plan to 2024, which aims at accompanying all areas served in a recovery that respects European strategies and the goals on the UN’s 2030 Agenda. “These results indeed reflect our uninterrupted activities, in spite of the pandemic, supporting the economic fabric in which we operate. Quarter after quarter, we succeeded in meeting the challenges posed by the emergency, reacting quickly to reorganise our work and find solutions to protect our assets on the one hand, and customers on the other. In a complex context, we defined new projects and signed agreements with outstanding partners, and in the second half of 2020, gaining speed in particular towards the end of the year, we benefitted from the overall recovery seen in economic activities in the areas we serve. These positive results were reflected in all main indicators and are all the more significant in light of the difficulties caused by the health emergency: we thus confirmed our track record of 18 years of growth and further improved our financial solidity, with positive consequences for our public and private shareholders, to whom we have decided to pay, already this year, an increased dividend coming to 11 cents per share”. Executive President, Tomaso Tommasi, di Vignano went on to say at the end of the Board of Directors meeting of 24 March. Chief Executive Officer, Stefano Venier, added: “The growth achieved by the Hera Group was strongly supported by its partnership with Ascopiave, which enabled the Group to expand further in the Triveneto region. Despite the complex context, we were able to immediately extract a significant part of the expected synergies, thus giving a crucial contribution to the increase in our cash flows in 2020. The year was also dedicated to further progress in fully integrating sustainability into our business strategies: we are committed to promoting further development in this direction, with projects for circularity, carbon neutrality and technological innovation, respecting European policies and the goals on the UN’s 2030 Agenda. This also includes a few collaborations recently launched, such as the one with Snam for developing hydrogen”. News_BS_870px_eng.jpg /group_eng/investor-relations/results-and-presentations/y2020 See the interactive 2020 annual report https://eng.gruppohera.it/group_eng/sustainability/sustainability-report/sr See the sustainability report 2020 /-/hera-bod-approves-y2020-results Read the press release on Y2020 results /documents/1514726/7351398/Bilancio+di+sostenibilit%C3%A0+2020+Highlight.pdf/773fb31e-68a1-a8b4-b487-435b139c741b?t=1618991300290 2020 Sustainability Report Highlights /group_eng/investors Find out the Investor Relations area Tomaso Tommasi di Vignano e Stefano Venier Tomaso Tommasi di Vignano e Stefano Venier 2019-07-18

On World Water Day 2021, we renew our commitment to protecting this precious natural resource. Investments of over one billion Euro have been allocated to the water cycle in our 2024 Business Plan. Our priorities are an efficient use of water and reducing consumption. Sede Hera World Water Day celebrates water and raises awareness. On World Water Day 2021, dedicated to the theme 'The role of water in our society and how to defend it’, we renew our commitment to encouraging the responsible use of water. Protecting water and reducing consumption have always been of paramount importance for us, and the service we manage, according to a circular economy approach, has specific and challenging goals. Investments of more than 1 Billion Euro have been allocated to the Water Cycle in the 2024 Business Plan Our strategies to ensure quality, efficiency and resilience require major investments, in order to upgrade infrastructures, even with the use of innovative technologies. That is why, we have allocated investments of over 1 billion Euro to the water cycle in our 2024 Business Plan. Many projects are planned such as the partitioning of the networks into districts, strengthening interconnections, to reduce water loss and guarantee water supplies even in critical situations, as well as water reuse projects. Reducing consumption and efficient use of water One of the goals of the 2030 UN Agenda for Sustainable Development is to substantially increase water-use efficiency across all sectors within 2030. We have set our internal water saving goal by 2030 as 25%, and have already reduced consumption by 5% in 2019 (with respect to consumption in 2017). Monitoring consumption to promote a conscious use of water We have provided numerous free tools to our customers to make them aware of the properties of the water they use every day. The water bill, for example, shows the water label with details (territory by territory) of the main benchmarks. This data is also provided by the report “In Good Waters”, which is published online, and contains, amongst other things, information about the quality of the water managed, which is monitored with almost 3,000 tests a day. The Acquologo (the Water Expert), on the other hand, is a free App for tablets and smartphones that is yet another communications channel with the citizens we serve. Its functions include self-reading of your own water meter or access to data about the water quality in your municipality. The App, which in 2020 alone was downloaded almost 12,000 times, sends warnings to users about the interruption to the water supply for routine maintenance and water leakages or burst pipes on land in the public domain. Our website also has a web area dedicated to water (eng.gruppohera.it/acqua), with useful information and insights. Finally, to encourage a conscious use of water, we were the first to create in Italy, a free tool called, the Consumption Diary, in which users may monitor their water consumption in order to modify the way they use water, giving a saving on water bills while ensuring positive impact on the environment. The project, in collaboration with Milan Polytechnic University, has to date involved over 145,000 domestic users and will gradually be extended to all customers who provide an email address to the company. World Water Day World Water Day For further information World Water Day World Water Day 2013-08-28

The Group has received Gold Class status for ranking as “Industry leader” in the Dow Jones Sustainability Index. Hera also given special mention as “Industry mover” The Hera Group has received a worldwide gold medal for social responsibility. S&P Global, indeed, has awarded the company its Gold Class 2021, the highest recognition reserved for companies included in the Dow Jones Sustainability Index (DJSI), the authoritative international stock market index assessing the ESG factors of roughly 3,500 listed companied with the highest capitalisation globally. This prestigious result was released with the publication of the Sustainability Yearbook 2021, a report that contains the results of analyses carried out for gaining access to the index last year, and the names of companies that achieved the highest sustainability scores. Following its inclusion in the FTSE MIB in 2019, Hera participated in the selection process for the DJSI and, in only 2 years, rapidly rose in the classification, being included in the World and European indices at the same time and ranking as “Industry leader”, i.e. the best “Multi-utility and Water” in the world, with a score of 87/100, compared to a sector average coming to 45/100. Compared to the other companies assessed by the DJSI, Hera stood out in particular for its environmental and economic sustainability, and its governance. The Sustainability Yearbook 2021 gives particular emphasis to the significant results achieved by Hera in the areas identified as most challenging for its sector, such as resource management and protection, the ability to grasp market opportunities and relations with stakeholders. In addition to Gold Class status, Hera also received special mention as “Industry mover”, that is, the company that recorded the most significant improvement, rising by no less than 19 points compared to the score of 68/100 in 2019. S&P Global's Sustainability Award S&P Global's Sustainability Award For further information /group_eng/sustainability Visit "Social Reponsibility" website area /group_eng/investors Visit "Investors" website area /-/hera-2021-gold-medal-in-s-p-global-s-sustainability-award Press release S&P Global's Sustainability Award S&P Global's Sustainability Award 2013-08-28

Sede Hera The Hera Group pays close attention to gender equality and to promoting diversity and inclusion, and stands out in particular for its transparency in providing information on these issues and its harassment prevention and sanctioning policies. The Group has indeed been included this year as well – after becoming part of it for the first time in 2020 – in the Bloomberg Gender-Equality Index, which evaluates 11,700 companies worldwide committed to promoting and creating equal and inclusive workplaces. Diversity awareness is indeed an increasingly important issue for the international financial community, with investors showing growing interest towards listed companies with outstanding policies in this area. Hera’s confirmation within the Bloomberg Gender-Equality Index – achieving significant results, even compared to the average in the utility sector – bears witness to the quality of the path chosen by the Group, which over time has been enriched with new content and increased dimensions, involving a growing number of employees. Today, diversity valorisation policies are an integral part of the Group’s strategy, and are also defined in its Business Plan to 2024. Promoting diversity, inclusion and people development is central in human resource management. At Hera, equality in access to development and professional growth is reached through meritocratic systems designed and calibrated to guarantee their own concrete application. The tools used include compensation and benefits focused on performance, the complexity of one’s role and market comparisons, regardless of gender or generation, and career paths that see an increasing percentage of women with roles of responsibility, now coming to roughly 30%. Bloomberg 2021 Bloomberg 2021 For further information /group_eng/investor-relations/hera-overview/creation-of-shared-value Hera Group's Diversity & Inclusion Main Parameters /-/hera-group-part-of-the-2021-bloomberg-gender-equality-index Press release bloomberg_2021_110.1611654387.png 2013-08-28

Sede Hera A company’s workers are the true key to its success. The Hera Group knows this well, and continues to dedicate resources, attention and commitment to its team of over 9,000 employees. And the results are clear to all, as is shown by Top Employer, an international certification of excellence in human resource management, awarded to Hera in 2021 as well, for the 12th consecutive year. This recognition comes from the Holland-based Top EmployerInstitute, which carries out research on the quality of human resource management, examining over 1,600 businesses. The Group also stands out for its organisational methods, which promote worker agility and digitalisation, with a smart working project launched in 2017 that created the bases to effectively face the emergency that struck our country, with no effect on service quality and efficiency, protecting at the same time the health and safety of its employees and customers. In 2020, Hera immediately introduced a range of measures that ensured it would remain close to its workers: from upgrading technological tools favouring collaboration and communication among employees, to redesigning training in order to meet new obligations concerning remote work, and setting in place a Covid-19 insurance policy for its employees, with all expenses covered by the company. Hera’s most outstanding human resource policies include Hextra, the integrated corporate welfare plan intended for all Group employees, investments for which reached 4.5 million euro in 2020 alone. The Group also offers its employees campaigns aimed at awareness, prevention, cure, overall wellbeing and education. Hera has also confirmed its ranking among the leading Italian businesses that invest in their employees’ personal and professional development, with 26 hours of training per capita each year and a total of roughly 236,000 hours provided, thanks to investments coming to approximately 2 million euro. In this area, a fundamental role is played by HerAcademy, the Group’s corporate university that allows it to communicate with businesses and the main local institutions. Furthermore, through the Hera Educational set of initiatives, the Group constantly reinforces its role in the area served, consolidating its partnerships with various figures in the educational system. Lastly, a special focus goes to sustainability and guaranteeing equal opportunity, inclusion and diversity valorisation. This is proved by the Group’s presence in the 2020 Refinitiv “Diversity & Inclusion Index” (formerly Thomson Reuters) and its entrance in the 2020 “Bloomberg Gender-Equality Index”. In November 2020, as regards ESG factors, which also cover human resource management and development, Hera was recognised as “Industry leader” and included in the Dow Jones Sustainability Index World and Europe, one of the most authoritative stock market indices evaluating social responsibility, which brings together the companies showing the best sustainability performances in the world. Top employer 2021 Top employer 2021 For further information /group_eng/working-at-hera-group Workers in Hera /-/hera-a-top-employer-for-the-12th-time Press release top_employer_2021_110.1611329648.png 2013-08-28

Sede Hera Tomaso Tommasi di Vignano, Hera Executive Chairman The reference scenario for the upcoming five years shows challenges and opportunities, which Hera has proven able to grasp in advance, by basing its strategy and its own approach to sustainability on them, well in advance. Today, with the new Business Plan, we can capitalise on the efforts made until present and increase our targets for growth to 2024. To support our goals, we have drawn up a significant investment plan which will expand our assets, at the same time making them increasingly sustainable, in line with the indications coming from international institutions. We have furthermore confirmed all of our operating-financial policies, most importantly maintaining a conservative asset profile, allowing us to finance potential investments not included in the Plan. Stefano Venier, Hera CEO Hera has always managed its activities through a sustainable approach, integrated into its business strategies. Therefore, with our new Business Plan we can promote further development, with projects dedicated to circularity, carbon neutrality and technological innovation, fully respecting the guidelines introduced by the Authority and benefiting from our past actions, in areas including premiums for service quality. We furthermore wish to report to our stakeholders, with the utmost transparency, on the Group’s commitment towards sustainability, already applying the TCFD’s recommendations to the 2020 financial year. Our future path is very clear and presents no few challenges, so much so that we have already given ourselves targets for 2030, aiming to achieve increasingly ambitious goals in sustainability. A new Plan for development and growth Today, the Hera Group’s Board of Directors, chaired by Tomaso Tommasi di Vignano, approved the Business Plan to 2024. This new five-year strategic document reflects Hera’s renewed commitment towards development and growth, with expectations increased compared to the previous Plan, and actions planned in areas including energy transition and environmental protection, technological evolution and social cohesion. The Group’s strategies for industrial and commercial reinforcement have been set out according to sustainable business models, channelling opportunities coming from innovation and digital technology, and promoting the creation of shared value for all stakeholders. Hera furthermore intends to support local communities in a recovery compliant to European strategies and the goals on the UN’s 2030 Agenda. Supported by the positive preliminary results for 2020, Hera will thus proceed along the path of uninterrupted growth it has followed since its establishment in 2002, with the aim of consolidating its leadership in all main business areas. All of this thanks to the strength of a model that over the years has proven to be winning and resilient and offers, still today, a concrete guarantee of additional future development A solid foundation in the preliminary results for 2020 The Business Plan to 2024 is based on the solid fundamentals seen in the year-end projections for 2020: the preliminary results, indeed, confirm growth in the main indicators over the previous year. Ebitda is expected to have reached 1,118 million euro in 2020, increasing compared to the 1,085 million seen in 2019, while the Net debt/Ebitda ratio shows considerable improvement, settling at 2.9x, as against 3.02x at 31 December 2019. Last year, furthermore, Hera made investments coming to roughly 540 million euro, essentially unchanged with respect to 2019. In 2020, Hera thus overcame the difficulties caused by the pandemic and guaranteed continuity, efficiency and quality in the services provided, as well as offering concrete support to all stakeholders, first and foremost customers, suppliers and employees. The framework of the new Plan: resilience, green transition and digital technology, for recovery To respond to the complex scenario seen in 2020 and limit the impact of the crisis, the European Union has projected a series of extraordinary measures – including the “Next Generation EU” program – with funding going in particular to the green transition and digital technology. Alongside these measures, mention must go to the opportunities found in our country’s particular situation, which shows room for consolidation in markets that remain overly fragmentary, tenders for service concession renewal, and a further liberalisation of electricity sales with the end of the protected customer system. Three focal points of the Business Plan to 2024: the environment, socio-economic factors and innovation The Hera Group has enhanced its strategy, following European directives while at the same time maintaining its coherence towards the 2030 Agenda, which for years has guided the Group’s commitment towards sustainable development. More specifically, the new Plan revolves around three strategic focal points – the environment, socio-economic factors and innovation – according to which all of Hera’s projects will take shape. The environmental focal points include promoting a circular economy by recovering, reusing and regenerating resources, interventions aimed at increasing infrastructural resilience so as to prevent and mitigate risks. More generally, this area also includes all actions aimed at countering climate change – an area in which Hera has been a leading figure for some time – in order to reach carbon neutrality, promoting bioenergies/green gas – such as biomethane, hydrogen and green syngas – and energy efficiency. Contributing to decarbonisation and saving resources will also come about through a drop in consumption within the Group itself: by 2024, energy consumption is expected to fall by 7% (compared to 2013) and internal water consumption by 17% (compared to 2017). The socio-economic factors, instead, involve creating “shared value” for stakeholders and the areas served, making the most of the Group’s physical and commercial assets, with new services having added value for customers, collaborations with external partners and projects for listening to local and social needs, as well as finalising integration transactions or tenders for regulated service assignments. Innovation, lastly, covers the opportunities linked to technological evolution, digitalisation, artificial intelligence and data analysis, to increase efficiency and service quality, with increasingly agile employment solutions, while maintaining the correct balance between people and technology. Investments coming to approximately 3.2 billion euro, up thanks to the Group’s financial solidity The Plan to 2024 calls for increased investments, coming to roughly 3.2 billion euro, 640 million per year on average: these figures are significantly higher (by approximately +40%) than the average seen over the last five years. In particular, an increase is expected in internal development, coming to 2.9 billion, 400 million more than in the previous Plan, with a financial commitment proportionate to Hera’s presence in the areas served and the features of the various business areas. 280 million will go to M&A operations and tenders for regulated services, with a slight drop compared to the previous Plan due to delays in a few gas tenders, partially offset by higher amount dedicated to external investments. More generally, 60% of these investments will be dedicated to projects respecting European objectives. 42% will go towards activities in line with the “Green Deal”, for reducing emissions, carbon neutrality, business resilience and circular economy. The remaining 18% will be channelled into technological evolution: from increased cybersecurity to remote control, and from “smarty” bins for sorted waste to new meters. This increase in investments was made possible not only by the positive results reached in 2020, but also by Hera’s financial solidity, which leaves room to manoeuvre with additional unforeseen investments. During the period covered by the Plan, in fact, a reduction is expected in the net debt/Ebitda ratio, reaching 2.8x by 2024. Business plan to 2024 Business plan to 2024 For further information /group_eng/investor-relations/hera-strategy Strategy and Business plan https://investornews.gruppohera.it/en/?n=185 Newsletter: business plan to 2024 /-/hera-group-approves-business-plan-to-2024-1 Press release bp2024_110x150.1610525461.jpg 2013-08-28

In the Lundquist Webranking 2020 report on digital communication, the multiutility enters the European ranking for the first time, ranking seventh, and confirms itself among the top ten in Italy distinguishing itself for the detailed vision of the company and its activities, as well as for completeness and transparency in the communication field Sede Hera Again in 2020, for the tenth year running, the Hera Group has been included among the top ten Italian companies in online communication and this year, for the first time, it also appears in the top ten European ranking. The study, published today in Corriere Economia, is conducted by Lundquist and the Swedish company Comprend, the two expert digital communication companies that annually examine the corporate websites of major Italian companies listed on the stock exchange, evaluating their communication strategies on the web ina ranking at national and European level. This year, the survey includes122 companies. In the 19th edition report, Hera placed 6th, in the category "5 Stars" in web communication, with a score of 82.2/100and ahead of large corporations such as Italgas, ERG, Mondadori and Intesa Sanpaolo. All results are available for viewing at this link. Among the strengths listed of the multi-utility company, the study names the detailed presentation of "Corporate Governance" and the "Careers" section, which are deemed particularly effective in communicating with the target audience. The Group was also recognised for its excellent performance in terms of transparencyof digital communication, which earned the Group's admission for the first time into the European ranking (Top 500), straight in at seventh place. Not only that: this edition of Webranking also included the "Palmares" ranking, which lists all the best-performing companies in the field between 2011 and 2020: here theHera Group comes in fifth with three silver and four bronzes in ten years. Regarding the question of sustainability, according to the study by Lundquist and Comprend, the Hera Group website offers "an interesting discussion dedicated to the importance of developing an Environmental, Social and Governance approach (ESG) in the financial sector, based on the results of dialogue with its stakeholders. Ample space is also given to sustainability issues within the section 'Investing in Hera', complete with links to pages for specific in-depth analysis". The health crisis triggered by the Covid-19 virus has also put corporate communication to the test, both in terms of its ability to react to the emergency itself and to recalibrate its vision of business for the future. For both these abilities, the Hera Group has been mentioned by Lundquist as ranking among the companies "to follow" with its dedicated area "Together to overcome this time of crisis", which keeps users constantly updated on all the initiatives put in place by the multi-utility company aimed at its customers and employees. Between the final phase of the lockdown and the first reopenings, the second edition of ".Trust" got well underway - Lundquist's research study which is actively focused on measuring how communication can generate trust and be an effective tool for business growth. This year, the Hera Group was mentioned (from among the 112 major Italian companies listed on the stock exchange that were analysed) in the section "Substance", which evaluates the ability to provide a unified view of the company and its purpose. Hera Group stands out in the detailed view of the company and its activities and for the completeness of the sections dedicated to sustainability. Download Whitepaper Webranking 2020-2021 Italy listed Webranking 2020 Webranking 2020 For further information https://www.comprend.com/webranking/webranking-results/2020-2021/ To see the full results https://lundquist.it/wp-content/uploads/2020/11/Webranking_Italy_2020_White_paper.pdf Download Whitepaper Italy listed 2020-2021 https://www.comprend.com/webranking/webranking-results/2020-2021/italy-2020-2021/ Take a look at the Italian ranking https://www.comprend.com/webranking/webranking-results/2020-2021/europe-500-2020-2021/ Take a look at the European ranking https://lundquist.it/trust/trust-italy-listed-2020/ Read more about ".Trust" webranking2020_110.1606808028.png 2013-08-28