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quologo 110 Use your smartphone to read your own water metre, receive prompt notifications about temporary water service interruptions for scheduled work, report leaks in the road and discover average tap water quality values, all with a simple click. Starting today, all of this is possible with the Acquologo (Water Expert), the new free app created by Hera. After the success of the Rifiutologo (Waste Expert), which helps to best separate waste and makes it possible to send geolocalised photo-reports about litter, the multiutility company is offering yet another app dedicated to residents in the communities it serves, to put a new, innovative and immediate tool in the palm of their hands, with all of the information about the local water service. The Acquologo is available for iOS, Android and Windows Phone operating systems. Water metre self-reading with one click With the Acquologo, customers that have a contract with Hera can simply and quickly read their own water metres and report their actual water consumption using a smartphone. All they need to do is select "Water metre reading", enter the contract code and then send the numbers from their metre. The self-reading function is valid for all users that receive a Hera bill for their water service. It is not available for customers that rely on other metre reading companies. The app provides advance notification of water service interruptions The Acquologo can also notify residents beforehand about water service interruptions for scheduled work (for example, pipeline upgrades or replacements). The notifications system can be activated on any smartphone by simply choosing the post code, allowing customers to always stay informed. Hera customers can also receive a notification by SMS by entering their mobile phone number in addition to the post code. The Acquologo provides information about tap water quality Hera manages the water service while guaranteeing its customers good drinking water, in line with regulatory requirements and with careful oversight along the entire purification and distribution chain. The Acquologo provides additional confirmation of this, as it allows users to use theirsmartphones to check the average values (calcium, pH, hardness, dry residue and much more) of the quality of the water provided in each municipality served by the multiutility company, and also compare them with legal limits. There is also a function that calculates the financial savings generated by consuming tap water rather than bottled water: in the "How much do you save" section, users can enter how many litres of water they drink per week and select the brand they typically buy. The Acquologo will estimate how much they can save. Water leaks can be reported to Emergency Services by sending a photo In the future, it will also be possible to use the Acquologo to send reports, for example about water leaks on public land due to pipe breakages below the road. To do this, users can simply take a photo with their own smartphone and, if necessary, attach a brief description. The report will be sent directly to Hera Emergency Services and, using geolocalisation, the system will identify the exact location where the report was sent, to notify Emergency Services technicians. This service is already active on a trial basis in Bologna. Ask the expert Lastly, the application can be used to contact the Hera experts with questions and requests about the local water service and to read the answers to the most frequently asked questions in this area. This system is synchronised with information available on the Group's website. To ensure that the Acquologo loads all content from the central database, the app should be updated periodically. Acquologo 870 2014-03-19 FOR FURTHER INFORMATION acquologo_870.1469179950.jpg Thanks to this new free application, with just a few clicks you can find out about tap water quality, receive notifications about service interruptions for scheduled work, report leaks in the road and read your own water metre quologo 110

Inrete Hextra is born... It is called Hextra, and it is the new integrated company welfare plan that has been in place since July 2016 for everyone working at the Hera Group. Also thanks to recent tax incentives introduced for welfare initiatives, every year the employees of all of the Hera Group's consolidated companies, which today number more than 8,500, can benefit from the same standardised plan. This is an important commitment which works alongside other employee welfare activities in which the Group has already invested for some time now (canteen, car parks, nurseries, summer programmes, etc.). The welfare plan encompasses a wide range of thematic areas to choose from, corresponding to just as many local sectors for the supply of goods and services: health and healthcare, insurance and social security, support for the education of children, services for individuals, welfare and income support. The investment in education for children is particularly significant and involves an additional contribution provided by the company to employees who meet specific requirements. The goal of this policy is to highlight the importance placed by the Group on culture and education, traditional values underlying the company's mission, which are confirmed in the success of Heracademy, the corporate university designed to develop and enhance worker skills. Lastly, those who choose to do so may allocate part of the value of their own welfare plan to Hera Solidale, the Group project which for years has involved workers in supporting a wide range of solidarity initiatives throughout the communities served by the multiutility company. The plan's investments are also expected to have positive impacts on the communities, thanks to the downstream business generated by the services provided. Therefore, this company welfare approach places the families of workers at the very centre while also developing positive relationships with local communities. Tommasi: "We invest in the welfare of families and the community" "We began with a long phase of listening, using questionnaires and focus groups, to understand how to put together a welfare plan that could improve our commitment to our employees" explains Tomaso Tommasi di Vignano, Chairman of the Hera Group. "We are satisfied with the solution we've developed as, aside from increasing resources, it also allows for a more streamlined use of them and, especially, it allows our workers to decide how to manage their contribution based on their own personal and family needs. If we consider the expansion and consolidation of the Group, Hextra represents a significant step forward, which enables us to create value and efficiency in the interest of everyone involved, while contributing towards protecting the wallets of families during this financially difficult time". Inrete 2014-03-19 870.1469179507.jpg A transversal plan for all Group companies from Emilia-Romagna to the Triveneto region to the Marche, aiming for flexibility to meet the needs of more than 8,500 workers and their families. Inrete

Inrete The Board of Directors of Hera S.p.A. today approved, with effect from 1 July 2016, the transfer of the gas and electricity distribution line of business to the company Inrete Distribuzione Energia, a wholly owned subsidiary of the multi-utility. This marks the completion of the "unbundling" process required by Italian legislation governing the sector (AEEGSI Resolution 296/2015) in order to separate the management of regulated business activities (gas and electricity distribution) from the management of liberalised activities (production, sale and procurement). Distributing gas and electricity in the Emilia-Romagna region, Inrete will serve more than 1.1 million gas users in 140 municipalities, with a gas network covering approximately 14,000 km, and more than 260,000 electricity users in 29 municipalities, with an electricity network of over 10,000 km. In line with the approach always followed by the Group, Inrete will continue to work with commitment in the field of safety and network control, with the aim of confirming the highest possible standards of service quality, consistently above the minimum levels demanded by the Authority. Inrete will draw on the multi-utility's innovative Remote Control Technology Centre, a structure at the cutting edge within Europe. Based in Forlì, this provides integrated management of all the gas plants and networks, as well as receiving and coordinating emergency calls. Similar services for all Inrete's electricity plants and networks will be provided by the Group's Electricity Remote Control Operations Centre in Modena. Alessandro Baroncini, former Director of Energy Networks at the parent company, has been appointed as Inrete's Chief Executive Officer. Inrete 2014-03-19 870.1467015950.jpg A wholly owned subsidiary of the multi-utility, the company will be operational from 1 July 2016 pic.1466602715.bmp

The Hera Group takes the podium for the value it places on female workers: this was the important outcome of the XXVIII edition of the Maria Bellisario "Donne ad Alta Quota" (high-flying women) Award which presented the multi-utility company with the Golden Apple for the "Women-Friendly Company" category. A prestigious award, with Hera selected unanimously by the Bellisario Foundation's awarding commission for its important and innovative policies and strategies to promote the growth and well-being of women in the company. Diversity management, fighting discrimination and support for families: these are the main fronts on which the Group has been working for years to promote the value of a company culture that, rooted in present challenges, always achieves excellence, from all perspectives. And everything starts with equal opportunities. Whilst the utility sector, due to the characteristics of the services provided, has historically seen a prevalently male workforce, the percentage of female employees on permanent contracts in 2015 is at a healthy 23.7%, compared to a national average for the sector, not rising above 16.5% (2010 ISTAT data). This has been a long-term process for Hera, launched back in 2009 with the signing of the "paper for equal opportunities and equality in the workplace". Together with other entities, both public and private, Hera undertook to fight against all forms of discrimination in the workplace. Another fundamental step was the introduction in 2011 of the Diversity Manager, Susanna Zucchelli, supported by an "entirely female" working group made up of women holding very different roles united by the shared objective of further developing and consolidating equal opportunities whilst also managing and promoting diversity. Hera runs many initiatives which consolidate diversity management: from company nurseries and intercompany nurseries, with long opening hours to support the careful balance of home and work life, to provisions regarding family leave, not only available for maternity and paternity but also for those who need to assist other family members or elderly relatives. A particularly good example is "the smooth return to work policies" project, founded and realised by Hera and aimed at improving the management of family leave. This project also saw investment from the Prime Minister's Office, due to the innovative and socially important nature of the approaches employed. "The Golden Apple of the Bellisario Award presented to Hera for the Women-Friendly Company category makes us hugely proud because it represents a recognition of the long and methodical commitment which we have maintained for years in terms of time, enthusiasm, resources and ideas, involving companies of all different levels" - declared Tomaso Tommasi di Vignano, Chairman of the Hera Group. "Our attention to women in the workplace is not our only commitment in terms of personnel policies and diversity management, but this certainly represents an important moment, also because of the genuinely original talent that female employees demonstrate in their work." "A talent that we support through a series of articulated measures aimed at translating rights into practices, to help women in the performance of their daily work and in the management of their time." 2014-03-19 USEFUL LINKS 870Bellisario.1466439403.png The Maria Bellisario Foundation has awarded the multi-utility company with the Golden Apple for Women-Friendly Company. Here are the motivations for this award which recognises the Group's dedication to promoting equal opportunities in the work place. 110.1466439405.png

Hera Board of Directors approves 1st quarter 2016 results Financial highlights Revenues at € 1,235.4 million (-5.8%) EBITDA at € 278.4 million (+0.4%) Net profit post minorities at € 91.2 million (+5.3%) Net debt improves, reaching € 2,504.5 million Operational highlights Management focus on extracting efficiencies and synergies Simultaneously, commercial expansion into new markets continues Solid customer base in energy markets, with approximately 2.2 million customers Good contribution to growth coming from the electricity business Today, the Hera Group’s Board of Directors unanimously approved the consolidated financial statements at 31 March 2016, which confirm the trend of growth in all main indicators, in spite of a difficult first quarter. On the one hand, organic growth aimed at achieving efficiencies and synergies, along with complementary efforts towards market expansion, succeeded in compensating for 75% of the cut in remuneration for regulated activities; on the other, M&A operations, involving above all acquisitions made in late 2015, contributed to growth in results. Note in particular that, with reference to legislative decree 25/2016, an implementation of Directive 2013/50/EU (so-called Transparency Directive), the Hera Group has voluntarily decided to publish its interim financial statements, as in the past, taking into account the high value given to communicating with the stakeholders. This decision may be modified in the future, based on changes in regulations. Revenues amounting to € 1,235.4 million In the first quarter of 2016 revenues came to € 1,235.4 million, dropping compared to the € 1,311.9 million seen in the corresponding period of 2015. The reasons for this decrease include lesser volumes of gas sold, owing to particularly mild temperatures; lesser revenues in electricity and gas sales and trading following a drop in the price of raw materials; the impact on regulated gas, electricity and water cycle services caused by the new method for calculating return on invested capital. These negative effects were only partially compensated by an increase in revenues due to greater volumes of electricity sold and higher revenues due to an increase in disposed waste. EBITDA rises to € 278.4 million EBITDA went from € 277.2 million after the first three months of 2015 to € 278.4 million at the end of March 2016, showing a growth of € 1.2 million (+0.4%). This result is particularly significant if one recalls that it was achieved in the first quarter, the period of the year in which decreases in WACC for gas, electricity and water distribution have, due to seasonal factors, a greater negative impact on revenues and EBITDA, reaching – in the case at hand – € 9.5 million (respectively: 3.9 in gas, 0.7 in electricity and 4.9 in water). The increase in EBITDA was mainly sustained by energy activities, which maintained their margins and more than compensated for the performance of regulated activities. Growth in Ebit and pre-tax profits, improvement in liability management Ebit at 31 March 2016 came to € 170.8 million, up compared to the € 170.1 million seen in the first quarter of 2015 (+0.4%), in spite of higher depreciation due to changes in the operating area, partially compensated by lesser provisions. Liability management improved by € 3.7 million, coming to € 25.7 million at the end of the first quarter (-12.6% compared to the same period in 2015), thanks in particular to lower average debt and greater efficiency in rates. In light of this situation, pre-tax profits went from € 140.7 million in the first three months of 2015 to € 145.1 million in the first quarter of 2016, showing a further increase in the rate of growth (+3.1%). Increased net profits post minorities, reaching € 91.2 million (+5.3%) Net profits recorded an increase of 4.7%, going from € 92.5 million in the first three months of 2015 to € 96.8 million in the corresponding period in 2016, on account of a reduction of the tax burden leading to a tax rate of 33.3% (an improvement compared to the 34.3% applied in the same period in 2015, thanks to the benefits obtained in 2016 deriving from the application of the “patent box” and tax credits for research and development, in addition to tax concessions for maxi amortisations). Profits post minorities came to € 91.2 million, rising by € 4.6 million on the first three months of 2015 (+5.3%), due among other things to reduced minority interests, mainly caused by the complete acquisition of Akron and Romagna Compost. Over 70 million of capital expenditure, reduction of net debt In the first three months of 2016, the Group’s operating capex amounted to 73 million, including 4.5 million in capital grants, with an increase on the same period in 2015 (€ 64.1 million), as foreseen by the business plan. These investments mainly concerned interventions on plants, networks and infrastructures, in addition to regulatory upgrading above all in the gas area, due to a massive meter substitution, and water purifying and sewerage plants. Net debt reduced by no less than € 147 million, going from 2,651.7 in 2015 to 2,504.5 at 31 March 2016 (-5.6%). This result, which is partially natural, tied to seasonal factors in the gas business, was sustained by both a reduction in working capital, owing to a continuous and constant attention in trade receivables management, and the generation of a higher operating cash flow. The debt/equity ratio thus dropped below 0.96x, showing an improvement in financial solidity. Gas EBITDA for the gas business, which includes services in distribution and sales of natural gas and LPG, district heating and heat management, reached € 128.7 million in the first quarter of 2016, with a slight growth compared to the € 128.4 seen at 31 March 2015, thanks to greater margins for activities in sales and trading and greater margins for district heating and heat management services. These positive effects more than compensate for the lesser volumes of gas sold on account of mild temperatures, and the € 3.9 million drop in gas distribution revenues, an effect of the WACC reduction. The gas area accounted for 46.2% of Group EBITDA. Water cycle EBITDA for the integrated water cycle business, which includes aqueduct, purification and sewerage services, went from € 50.5 million in the first three months of 2015 to € 49.8 million in the first quarter of 2016. This result was impacted above all by € 4.9 million in lesser revenues for delivery, an effect of the WACC reduction, which in turn were almost entirely compensated by the operational efficiencies created. The integrated water business accounted for 17.9% of Group EBITDA. Waste management EBITDA for the waste business, which includes services in waste collection, treatment and disposal, went from € 64.9 million in the first quarter of 2015 to € 62.4 million in the corresponding period in 2016. Among the factors with a negative influence, particular attention must go to the tariffs for waste collection and street sweeping, which have not as yet been updated and are currently under local authorities’ approval. As regards activities in waste recycle, treatment and disposal, results were equal to those seen in the previous year, thanks to the contribution obtained from acquisitions carried out in 2015, which compensated for the temporary stall in landfills currently being enlarged, the reduction in prices for energy certificates, and the lower amount of green certificates for the Ferrara WTE plant. Good results were seen in sorted waste, which rose to 56.2%, compared to 55.2% in the first three months of 2015, thanks to the many projects implemented across all geographical areas served. The waste business accounted for 22.4% of Group EBITDA. Electricity EBITDA for the electricity business, which includes services in electricity production, distribution and sales, rose from € 29.3 million in the first quarter of 2015 to € 33.2 million at 31 March 2016 (+13.3%), thanks above all to greater margins both in sales and trading activities and in electricity generation. This increase was only partially reduced by lesser revenues in the regulated distribution service, coming to € 0.7 million. In this area, furthermore, an increase in both customers (almost 60,000 more than in 2015) and volumes sold was seen, thanks among other things to reinforced commercial initiatives. The electricity business accounted for 11.9% of Group EBITDA. The person 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 interim financial statements and related materials are available to the public at the Company Headquarters and on the website www.gruppohera.it. Unaudited extracts from the Interim Financial Statements at 31 March 2016 are attached. PROFIT & LOSS (M€) MAR 2016 INC% MAR 2015 INC.% CH CH % Sales 1,235.4 1,311.9 -76.5 -5.8% Other operating revenues 73.7 6.0% 71.4 5.4% +2.3 +3.2% Raw material (608.5) -49.3% (702.3) -53.5% -93.8 -13.4% Services costs (281.7) -22.8% (266.6) -20.3% +15.1 +5.7% Other operating expenses (12.1) -1.0% (9.9) -0.8% +2.2 +22.2% Personnel costs (132.9) -10.8% (131.4) -10.0% +1.5 +1.1% Capitalisations 4.6 0.4% 4.1 0.3% +0.5 +12.1% Ebitda 278.4 22.5% 277.2 21.1% +1.2 +0.4% Depreciation and provisions (107.6) -8.7% (107.1) -8.2% +0.5 +0.5% Ebit 170.8 13.8% 170.1 13.0% +0.7 +0.4% Financial inc./(exp.) (25.7) -2.1% (29.4) -2.2% -3.7 -12.6% Pre tax profit 145.1 11.7% 140.7 10.7% +4.4 +3.1% Tax (48.4) -3.9% (48.2) -3.7% +0.2 +0.4% Net profit 96.8 7.8% 92.5 7.0% +4.3 +4.7% Attributable to: Shareholders of the Parent Company Minority shareholders 91.2 5.6 7.4% 0.5% 86.6 5.9 6.6% 0.4% +4.6 -0.3 +5.3% -4.8% BALANCE SHEET (M€) MAR 2016 INC% MAR 2015 INC.% CH CH % Net fixed assets 5,509.0 108.0% 5,511.3 106.9% (2.3) 0.0% Working capital 105.0 2.1% 157.0 3.0% (52.0) (33.1%) (Provision) (512.7) 10.1% (513.5) (9.9%) +0.8 (0.2%) Net invested capital 5,101.3 100.0% 5,154.8 100.0% (53.5) (1.0%) Net equity (2,596.8) 50.9% (2,503.1) 48.6% (93.7) +3.7% Long term net financial debt (2,746.5) 53.8% (2,743.6) 53.2% (2.9) +0.1% Short term net financial debt 242.0 (4.7%) 91.9 (1.8%) +150.1 +163.3% Net financial debts (2,504.5) 49.1% (2,651.7) 51.4% +147.2 (5.6%) Net invested capital (5,101.3) 100.0% (5,154.8) 100.0% +53.5 (1.0%) 1Q 2016 2014-03-19 FOR FURTHER INFORMATION 1Q 2016 The interim results at 31 March show positive figures and growth in all main indicators, despite a difficult first quarter, affected by the lesser revenues in gas, electricity and water distribution caused by recent regulatory changes. /documents/1514726/4210758/Hera_Group_Consolidated_quarterly_report_as_at_31_march_2016.1462960176.pdf/dcbc0211-3b72-fa0c-3a16-e9a3b70afea4?t=1597911168892 /-/hera-board-of-directors-approves-1st-quarter-2016-results-1?inheritRedirect=true /documents/1514726/4210758/Hera_Newsletter_Q1_2016.1462957906.pdf/2d938b8c-ba16-4e50-6a1e-888659f993b2?t=1597911167130 /documents/1514726/4210758/Dati_finanziari_ed_operativi_di_sintesi_1Q_2016_eng.1462877519.xls/f1199f02-3765-b6f0-acd6-6714dac6f163?t=1597911166445 Financial report as at 31/03/2016 Press release Newsletter as at 31/03/2016 Financial data as at 31/03/2016 centrata Hera Board of Directors approves 1st quarter 2016 results

Shareholders' meeting 2016 Approval of the financial statements and the sustainability report. Dividend at 9 cent./share In the ordinary session the Meeting approved the financial statements and the sustainability report for 2015, along with the Board of Directors’ proposal to pay dividends of 9 euro cents per share, matching those paid in the previous financial year, as priorly announced in the business plan to 2019. In particular, the 2015 financial year closed with positive economic results and a rise in all main indicators, thanks to the Group’s solid business model and a good operational, financial and fiscal management: revenue reached € 4,487.0 million (+7.1% over the previous year), EBITDA settled at € 884.4 million (+1.9%) and net profit post minorities came to € 180.5 million (+9.5%). The ex coupon date was set at 20 June 2016, with payment beginning on 22 June 2016. The dividend paid, based on the price of Hera stock at 31/12/2015, corresponds to an annual return of approximately 3.7%. Amendment of article 4 of the Articles of Association In the extraordinary session the Meeting approved amendments to article 4 of Hera’s Articles of Association, consisting in an explicit statement that Hera S.p.A.’s company purpose also includes the possibility of engaging in activities involving management and/or supply of integrated energy services. The activities in question are already practiced by the Company, but this must now be specified in the Articles of Association in order for Hera S.p.A. to obtain certification pursuant to UNI CEI 11352 regulations. This is because legislative decree 102/14, which implements EU directive 2012/27, requires companies, as of July 2016, to obtain this certification in order to be qualified to carry out a number of activities in the field of energy efficiency promotion, such as energy diagnosis, and to obtain white certificates. Other resolutions approved The Shareholders’ Meeting, in addition to the report on corporate governance and compensation policy, lastly approved the renewal of the Board of Directors’ authorisation to purchase treasury shares (along with the conditions of their disposal), for a maximum exchange value of € 180 million, for 18 months. This authorisation was requested so as to pursue the goals allowed by current regulations and accepted market practices, among which investment opportunities involving the use of treasury shares to increase the creation of value and possible acquisitions of stakeholdings that also include share exchanges. Shareholders' meeting 2016 2014-03-19 For further information sito_1.1461855533.jpg The Hera Shareholders' Meeting was held in Bologna this morning, with both ordinary and extraordinary sessions. /-/hera-shareholders-meeting-dividend-at-9-cents-1?inheritRedirect=true /group_eng/governance Press release Corporate Governance centrata sede hera piloni.png

Financial Results 2015 The year comes to a close with growth in all main indicators, thanks to the Group’s solid business model and its constantly and continuously improving operational, financial and fiscal management. Internal and external growth confirmed as the key factors of development. Proposed dividends set at9 euro cents per share, as forecasted by the business plan. Financial Highlights Revenue at € 4,487.0 million (+7.1%) EBITDA at € 884.4 million (+1.9%) Adjusted net Group profits at € 202.6 million (+11.8%) Net profit post minorities at € 180.5 million (+9.5%) Net debt at € 2,651.7 million Proposed dividends confirmed at 9 cents/euro per share Operational Highlights Growth remains driven by continuous improvement in operational, financial and fiscal management Excellent performance in the gas area, due to greater volumes sold Solid customer base in energy markets, with approximately 2.2 million customers Today, the Hera Group’s Board of Directors unanimously approved the consolidated economic results as at 31 December 2015, along with the Sustainability Report. The 2015 financial year concluded for the Hera Group with all main indicators up from 2014. These positive results are the fruit of a solid business model that has always been distinguished by its balanced multi-service portfolio, focused on core activities, continuous improvement in efficiency across all fields and synergies extracted from integrations. On the one hand the Group’s multi-business strategy guarantees a balanced range of economic and financial actions; on the other, a combination of two forms of leverage, internal growth and M&A, has allowed it to continue to expand in spite of an increasingly challenging scenario from an economic, regulatory and competitive point of view. The results reached confirm, furthermore, the Group’s attention towards the various facets of sustainability: environmental, social and economic. Our purely economic results are in fact flanked by data that bears witness to a reduction in environmental impact, an increase in sorted waste, greater care towards energy efficiency and continuous improvement in customer service, all of which provides further confirmation of the company’s attention towards all stakeholders and the localities in which it operates. Waste Management The waste management business EBITDA, which includes waste collection, treatment and disposal services, reached € 230 million compared to € 241.8 million in 2014. Results in the field of sorted urban waste are positive, with further progress from 54.0% in 2014 to 55.4% in 2015. In addition to a qualitative and quantitative improvement in gathering, activities in the waste management area were focused on increasing the efficiency of and enlarging the plant base, to complete the Group’s presence in new national markets with demand and prices in continuous expansion. In particular, the market position and the new plants deriving from the acquisition in late 2015 of Waste Recycling in Tuscany and some activities of Geo Nova in the Veneto region will fully contribute to operating results in 2016. Water The integrated water cycle business, which includes aqueduct, purification and sewerage services, recorded an EBITDA of € 232.5 million (+7.1%) compared to € 217.1 million in 2014. Net investments in the integrated water cycle area amounted to € 114.9 million, with an increase of € 21.3 million on the previous year. Including capital grants, investments in this area came to € 127.2 million, of which € 59.1 million in aqueducts, € 34.3 million in sewerage and € 33.8 million in purification. The integrated water cycle area accounts for 26.3% of Group EBITDA. Gas The gas business EBITDA, which includes services in natural gas distribution and sales, district heating and heat management, rose to € 295.8 million (+7.2%) from € 276 million in 2014. This result was obtained above all thanks to an increase in volumes of natural gas sold to final customers (332.1 million m3). In 2015, investments in the gas area came to € 86.5 million, with an increase of € 7.4 million compared to 2014. Electricity The electricity business, which includes services in electricity production, distribution and sales, recorded an EBITDA of € 104.7 million, with an improvement of € 4 million compared to the 2014 data. This result was reached thanks to the efficiency enhancement initiatives introduced and the greater volumes sold to end customers. Driven above all by growth in the free market area, the number of electricity customers reached over 850,000 (+7.7% compared to 2014), confirming the trend seen in recent years, mainly due to a reinforcement of commercial action. “The year came to an end with positive results and a rising trend, in line with our history. Confirming the validity of our multi-business model, this allows us to put to the Shareholders’ Meeting a payment of dividends per share in line with both the previous year and that which we had announced in our business plan” affirms Tomaso Tommasi di Vignano, Executive Chairman of Hera. “External growth was concentrated in late 2015 on mono-business enterprises whose contribution will become fully visible in the 2016 results, leading the Hera Group to widen its reference markets. We continue, concurrently, to analyse the best opportunities among multi-utilities bordering on the geographical areas in which we operate, to increase synergies and create ever greater value for our shareholders.” “Thanks to our commitment to innovation and greater efficiency in operational and financial structure management, the Hera Group has been able to generate sufficient financial resources to self-finance both its own activities and an enlargement of its operating area”, explains Stefano Venier, CEO at Hera. “These results are all the more appreciable considering that they are accompanied by a creation of value for the entire area in which we operate, amounting to €1.6 billion, and an increase in customer and employee satisfaction, as testified this year as well by surveys carried out by third parties, and the improvement of the various indicators of social and environmental sustainability that appear in the Sustainability Report, approved today by the Board of Directors”. 2014-03-19 For further information Growth in all main indicators, thanks to the Group's solid business model. Internal and external growth confirmed as the key factors of development. Proposed dividends set at 9 euro cents per share. /-/hera-group-approves-results-as-at-31/12/2015-1?inheritRedirect=true Press release Financial Results 2015

Business Plan 110x150 Global warming, air quality, the production of renewable energy, the use of water are just some of the energy and economic environmental emergencies to think about in"A Well of Science", the scientific discovery programme entirely dedicated to high schools and colleges, promoted by Hera Group under the patronage of the Emilia-Romagna Local Educational Authority. The initiative is celebrating its tenth birthday with two months of meetings with more than thirty experts, including exponents from the field of popular science, university lecturers and journalists, to promote the culture of science among young people through an innovative, simple and interactive approach to grab their attention and steer them towards building a better future. This year the "A Well of Science" project aims to familiarise students with therevolutionary power of ideas. The subject that will be discussed is the current and important topic of natural resources and their use on a global scale: it will be an opportunity to take an in-depth look at the most innovative ideas on managing resources, examining at the most daring and visionary international case histories in the field of energy, water and environmental research. After the first stage in Modena on 22 February, the project will involve young people from Ferrara, Bologna, Rimini, Cesena, Faenza, Forlì, Ravenna, ending up in Imola on 20 April. Some numbers From the first editions the "Well" has attracted very keen participation from students, which is continuing to grow year on year. The figures bear witness to this participation. In 2015, 52 schools were involved with a total of 14,000 students taking part, while this year 58 scientific high schools and colleges will be participating, with the project going into 600 classrooms and involving 16,000 students. The 10th edition of "A Well of Science" is brought about with the collaboration of ComunicaMente, the University of Bologna and the Immaginario Scientifico Science Centre of Trieste. Un Pozzo di scienza - Decima edizione https://www.youtube.com/watch?v=Ms_xzu1oC5w#prettyPhoto 2015-11-11 unpozzodiscienza_banner_box_laterale.1456314723.png Global warming, air quality, the production of renewable energy, the use of water are just some of the energy and economic environmental emergencies to think about in"A Well of Science", the scientific discovery programme entirely dedicated to high schools and colleges, promoted by Hera Group under the patronage of the Emilia-Romagna Local Educational Authority. Pozzo scienza 2016