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From 7 to 10 November 2023, “Ecomondo” (the European fair that acts as a reference point on ecological transition, technological and industrial innovation of environmental services and green economy, particularly waste and resources, circular bio-economy, and water) is at the Fiera di Rimini. We are there again this year, in Hall C1 at Stand 500, with a two-storey exhibition space covering 550 square metres: the entire Hera Group is present with Hera S.p.A., Herambiente, Aliplast, Hera Comm, HERAtech and Hera Luce. During the fair, the business offers of the Group's trading companies are also presented. As every year, the stand is decorated with works of art made from recycled materials by SCART, the Hera Group project devoted to the artistic regeneration of industrial waste, in full compliance with the circular economy. Once again this year, SCART presents a new project in collaboration with the Fine Arts Academies of Florence, Ravenna and Rimini and the young people from the San Patrignano rehab centre. These are 30 new works made up of waste from sports activities. Even outside the expo, it is possible to admire a Formula 1 car created with the waste collected by the Group following the floods of May 2023. For further information Visit the Ecomondo website ecomondo_2023_870x320.png 110x150_Ecomondo_2023.jpg Ecomondo_2023_1.jpg Ecomondo_2023_2.jpg Ecomondo_2023_3.jpg Ecomondo_2023_4.jpg Ecomondo_2023_5.jpg Ecomondo_2023_6.jpg Ecomondo_2023_7.jpg Ecomondo_2023_8.jpg Ecomondo_2023_9.jpg Ecomondo_2023_10.jpg Ecomondo_2023_11.jpg Ecomondo_2023_12.jpg Ecomondo_2023_13.jpg Ecomondo_2023_14.jpg Ecomondo_2023_15.jpg Ecomondo_2023_16.jpg Ecomondo_2023_17.jpg Ecomondo_2023_18.jpg Ecomondo_2023_19.jpg Ecomondo_2023_20.jpg Ecomondo_2023_21.jpg Ecomondo_2023_22.jpg Ecomondo_2023_23.jpg Ecomondo_2023_24.jpg Ecomondo_2023_25.jpg

The consolidated half-year report at 30 June shows growth in all main operating-financial indicators, confirming Hera’s financial solidity and once again demonstrating the effectiveness of the choices made by management Financial highlights Ebitda at 718.3 million euro (+13.8%) Net profit attributable to shareholders at 187.7 million euro (+2.4%) Overall investments rise to 403.4 million euro (+22.4%) Net debt at 4,145.7 million euro, down by 104.1 million euro compared to the 31/12/22 figure, with net debt/Ebitda ratio at 3x Business highlights Significant contribution to growth from the energy sectors, the waste management area and the water business Ongoing growth in the energy customer base, which rose to over 3.7 million, up 7.9% in 12 months Further development of initiatives for the energy transition and the circular economy, thanks to state-of-the-art plants and increasingly green services The Board of Directors of the Hera Group, chaired by Cristian Fabbri, unanimously approved the consolidated results for the first half of 2023. The first half of the year ended with operating results and investments up compared to the previous year, although in the first months of 2023 some of the served areas were affected by extreme weather phenomena and the uncertain global context continues to generate volatility in commodity prices, a generalised rise in inflation and an increase in the interest rates. The consolidated half-year report at 30 June, indeed, shows positive operating and financial performances, demonstrating once again the Group’s financial solidity and strength of its business model, balanced between internal and external growth and between regulated and free market activities. Cristian Fabbri, Executive Chairman of the Hera Group: “The first half of 2023 closed with substantial growth in results, with Ebitda reaching 718.3 million euro, up 13.8%, mainly due to the overall contribution coming from the energy area, which also saw an increase in services for decarbonisation, while growth in the waste management area confirms our commitment to the circular economy. The results for this half-year see us moving rapidly towards achieving the goals set out in our Business Plan and are the fruit of our consolidated multi-business strategy, which has always been geared towards combining corporate growth with the sustainable development of the local ecosystem. This is additionally confirmed by the 22% rise in investments, both for developing the Group’s industrial assets and for M&As that focus on growth towards the ecological transition, innovation and resilience. Our business model is capable of continuously innovating while maintaining strong local roots, and has allowed us to once again respect the commitments made to our shareholders, to whom a dividend up by 4.2% was paid last month, consistent with what was announced during the presentation of the Business Plan to 2026.” Orazio Iacono, CEO of the Hera Group: “The consolidated half-year financial report at 30 June shows significant growth in Ebitda, with a contribution coming from all business areas, in particular the energy sector with 239 million euro (+30%) and the waste management area with 162.9 million euro (+8%), and increased investments and M&A transactions, amounting to over 400 million euro. All of this was made possible by a significant cash generation and a solid financial position. The financial structure was further reinforced during the first half of the year by sustainable sources of financing on favourable terms, including the issue of a sustainability-linked bond, a new revolving credit line and a recent EIB loan. These initiatives allowed us to maintain our net debt/Ebitda ratio at roughly 3x, in line with the previous half-year and the targets defined.” Revenues at 8.3 billion In the first half of 2023, revenues amounted to 8,297.5 million euro, as against 8,896.0 million euro at 30 June 2022, mainly due to the drop in energy commodity prices and lower volumes of gas sold, as a result of the mild weather in the first half of the year. Revenues related to the higher volumes of electricity sold, instead, were up, thanks to commercial development actions, Consip tenders and the lots awarded in the protected and gradual protection services, as well as higher revenues from energy services, in which opportunities related to energy efficiency incentives in residential buildings and increased activities in value-added services for customers remained. A positive contribution also came from revenues in the waste management sector, due to increased treatment activities and acquisitions in the industry market. Ebitda rises to 718.3 million euro Ebitda for the first half of 2023 rose to 718.3 million euro (+13.8%), compared to 631.2 million euro at 30 June 2022. This increase is mainly due to the overall contribution coming from the energy areas, amounting to 68.1 million euro, and the positive performance of the waste management area, up by 12.2 million euro. Net operating result grows The net operating result at 30 June 2023 rose to 374.7 million euro, up 11.9% compared to the 334.9 million euro seen one year earlier. This performance remained positive even after higher depreciation and amortisation, due to the significant increase in investments, and conservative provisions for bad debts, due to the increased turnover in last resort markets. Financial charges increased, mainly due to the medium- and long-term credit lines stipulated in 2022 and the significant change in the interest rate scenario, which saw a significant increase in the cost of money. Net profit attributable to shareholders up to 187.7 million euro Net profit rose to 208.0 million euro (+3.1%), compared to 201.7 million euro in the first half of 2022, with a tax rate coming to 26.8%. Net profit attributable to Group shareholders* totalled 187.7 million euro, up (+2.4%) from 183.3 million euro at 30 June 2022. Strong growth in operating investments and Group solidity reinforced In the first half of 2023, the Hera Group made investments and corporate acquisitions totalling 403.4 million euro (+22.4% compared to the same period in 2022). Operating investments, including capital grants, amounted to 318.4 million euro, up by 31.3 million euro compared to the previous year (+10.9%), and were mainly related to the development of plants, networks and infrastructures. In addition, regulatory upgrading mainly concerned gas distribution, with a large-scale meter replacement, and the purification and sewerage area. Income statement (mn€) Jun-23 % inc. Jun-22 % inc. Abs. change % change Revenues 8.297,5 8.896,03 -598,5 -6,7% Other operating revenues 299,3 3,6% 219,4 2,5% +79,9 +36,4% Raw and other materials (5.961,0) -71,8% (7.062,2) -79,4% -1.101,2 -15,6% Service costs (1.576,2) -19,0% (1.105,2) -12,4% +471,0 +42,6% Other operating expenses (41,5) -0,5% (39,3) -0,4% +2,2 +5,6% Personnel costs (330,4) -4,0% (308,7) -3,5% +21,7 +7,0% Capitalised costs 30,6 0,4% 31,2 0,4% -0,6 +1,9% Ebitda * 718,3 8,7% 631,2 7,1% +87,1 +13,8% Amortization, depreciation and provisions (343,6) -4,1% (296,3) -3,3% +47,3 +16,0% Ebit * 374,7 4,5% 334,9 3,8% +39,8 +11,9% Financial operations (90,5) -1,1% (50,9) -0,6% +39,6 +77,7% Pre-tax result * 284,2 3,4% 284,0 3,2% +0,2 +0,1% Taxes (76,2) -0,9% (82,3) -0,9% -6,1 -7,4% Net result * 208,0 2,5% 201,7 2,3% +6,3 +3,1% Attributable to: - - + Shareholders of the Parent Company * 187,7 2,3% 193,3 2,1% +4,4 +2,4% Minority shareholders 20,3 0,2% 18,4 0,2% +1,9 +10,3% Invested capital and sources of financing (mn€) 30-giu-23 Inc.% 31-dic-22 Inc.% Var. Ass. Var.% Net non-current assets* 7791,2 100,7% 7522,3 94,5% 268,9 3,6% Net working capital* 612,2 7,9% 1096,0 13,8% (483,8) (44,1)% (Provisions) (668,1) (8,6)% (657,6) (8,3)% (10,5) 1,6% Net invested capital* 7.773,6 100,0% 7960,7 100,0% (225,4) (2,8)% Equity* 3589,6 46,4% 3710,9 46,6% (121,3) (3,3)% Long-term borrowings 5067,5 65,5% 5598,5 70,3% (531,0) (9,5)% Net current financial debt (921,8) (11,9)% (1348,7) (16,9)% 426,9 (31,7)% Net debt 4145,7 53,6% 4249,8 53,4% (104,1) (2,4)% Total sources of financing* 7735,3 100,0% 7960,7 100,0% 225,4 (2,8)% * Adjusted results For further information Press release Investors web area img_1H_primo_piano_eng.png 110x150_risultati_Q1_23_primo_piano.jpg

The EIB loan will help improve the resilience of the integrated water cycle, energy efficiency and the management of environmental services in the areas served by Hera The European Investment Bank (EIB) has granted a €460 million loan to Hera Group. The main goals of the financing are to strengthen the resilience of integrated water services, increase the production of renewable energy, foster energy efficiency, decarbonisation and the circular economy, and bolster waste processing and collection, all in order to support Hera Group’s areas of operation on their path to a sustainable environmental transition and help combat climate change. This EU bank loan will finance over 60 Hera Group projects aligned with the EU taxonomy and in line with the objectives of the UN 2030 Agenda, helping the communities served by the Italian multi-utility on their path to a green transition closely connected to local society and industry. The EIB financing will therefore cover almost 60% of the total value of these investments (over €800 million) already planned by the company in its 2022-2026 industrial plan. Operations will mainly take place in Emilia-Romagna, but also in other areas served such as Veneto and Friuli-Venezia Giulia. In concrete terms, the EU bank resources will contribute to improving integrated water services via operations to further cut losses and renew rainwater collection and wastewater treatment facilities. Hera Group will increase its capacity for processing, recycling, and recovering waste by renovating existing collection centres and building new, cutting-edge plants for recycling plastic and carbon fibre and for the pre-treatment and storage of industrial waste. The EIB financing will also enable Hera Group to install over 370 000 second-generation smart meters in the regions concerned, as well as develop district heating and combined heat and power systems and build photovoltaic plants — even small-scale ones — to increase renewable energy production. Almost 40% of the EIB-financed investments will be made in the parts of Emilia-Romagna that were hit the hardest by the recent floods. The financed operations will improve the resilience of water services to future extreme weather events, including via the construction of underground rainwater collection tanks in areas of the Romagna coast subject to high hydrogeological risk. Elsewhere, a number of measures will be taken to make the sewerage network more resilient to flooding. The financing announced today is part of the REPowerEU initiative supported by the EIB, which will invest an additional €30 billion over the next five years to unlock €115 billion, promoting the green transition and gradually reducing Europe's dependence on fossil fuels. For further information Press release primo_piano (1).png new_sede_hera_110.jpg

This transaction represents a major new commitment made by the Group to promote the energy transition and decarbonisation in the areas it serves Only two months after the establishment of Horowatt, a NewCo between Hera Group and Orogel that within 2024 will create an innovative and sustainable agrivoltaic plant in the agricultural cooperative’s Cesena facilities, Hera’s programme for developing cutting-edge integrated solutions in the field of clean energy is making rapid progress. Hera Group finalised the acquisition of Tiepolo Srl, owned by Combigas and Greenfield Renewables (each one holding 50% of the shares), which has developed a project for constructing a solar park in Bondeno (Ferrara) capable of meeting the needs of over 5,000 households. The plant, which will have a capacity of 8.9 megawatts and will generate approximately 13 GWh/year when fully operational, is one of the Hera Group’s numerous projects aimed at producing renewable energy and already included in the Business Plan to 2026, to support citizens, businesses and public administrations in the decarbonisation and electrification of their consumption. In order to make a significant contribution to reducing climate-changing gas emissions in all localities served and accompany them towards carbon neutrality, the Group has not only allocated significant investments for the energy transition in its Business Plan but has also set up a new business unit entirely dedicated to renewable energy production and energy management. For further information Press release acquisizionetiepolo_870.png sede-hera-110.jpg

We acquired 60% of the long-standing Rimini-based company, a reference point for technological systems and renewable energy throughout Italy Acting through our subsidiary Hera Comm, we finalised the acquisition of 60% of Fratelli Franchini. Based in Rimini, this company has a consolidated experience in the area of designing, installing and providing maintenance of all types of technological systems for companies, public administrations and hospitality facilities. It has been active for over 17 years in producing high-yield renewable energy sources for public and private industrial customers throughout Italy. The remaining 40% of the company stays in the hands of Franchini Group Srl, owned by brothers Pierpaolo and Marco Franchini, who retain the position of CEOs. This partnership with a long-standing operator, active both locally and nationally, will enable us to acquire new technical skills, particularly in the photovoltaic market, expand its portfolio of solutions for business customers, and respond to the growing demand for systems based on renewable sources, further strengthening its position in the Italian energy market. The details of the partnership Fratelli Franchini boasts over half a century of activity in the system engineering sector: since 1959 it has been building technological systems and since 2006 it has also been working in the renewable energy sector, developing projects for business clients in the hotel, port, hospital, industrial, retail and museum sectors. This company is the partner of choice for clients in the industrial sector, both public and private, to whom it is able to offer integrated solutions in all phases necessary for installing and maintaining of electrical, mechanical, large-scale photovoltaic and energy efficiency systems. It has installed more than 300 systems over the years. This operation boosts our ability to support our customers along the path to decarbonisation, including through the installation of photovoltaic generation systems, from traditional photovoltaic panel systems to new distributed power generation models such as Renewable Energy Communities. For further information Press release Partnership Hera-Franchini_870.JPG Partnership Hera-Franchini_110.jpg

We achieve second place in the overall ranking published by the index measuring the degree to which ESG factors are integrated within the governance of Italy’s top 100 listed companies Among Italy’s top companies for the last three years, we rank second in 2023 thanks to our full and deliberate integration of sustainability policies into its business strategies and governance structure. This has been confirmed by the Integrated Governance Index, the main quantitative index measuring the integration of ESG factors in the governance of the top 100 Italian listed companies, managed by ETicaNews. Local roots and focus on ESG objectives are one of our hallmarks, showing that we have always been committed to giving full value to people, thus generating a tangible impact and helping the communities served move towards a more equitable future in environmental, economic and social terms. The Group’s sustainable growth is, in fact, the result of a business model that always considers the generation of value as the cornerstone of our relations with all stakeholders, from the local ecosystem and future generations to customers, shareholders, workers and suppliers. Sustainability at the heart of our strategies Ever since the Group was founded, the full and deliberate integration of sustainability in our business strategies has been one of the key elements enabling us to meet all its challenges, because for Hera growth and sustainable development necessarily go hand in hand. This path has been built over time, starting from the Group’s corporate culture: in 2016 we were among the first companies to report shared-value Ebitda, which was later explicitly included in the Business plan and in the management incentive system. This commitment is also shown by the launch, in April 2023, of the second Sustainability-Linked Bond and the activation of a new credit line, the Sustainability-Linked Revolving Credit Facility, thanks to which we will allocate more than 1 billion in financing for projects moving towards the green transition. For further information Press release primo_piano_IGI_2023_870.png centrata IGI_2023_110.jpg

The consolidated quarterly report at 31 March shows growth in the main operating-financial indicators, once again proving the financial solidity and strength of the Group’s multi-business model Financial highlights Revenues at 5,628.9 million euro (+6.0%) Ebitda* at 410.2 million euro (+9.4%) Net profit attributable to shareholders* at 128.2 million euro (+0.7%) Net debt at 3,777.6 million euro, down 11% compared to 31 December 2022, with net debt/Ebitda* at 2.84x Business highlights Good contribution to growth coming from all main businesses, the energy and environment sectors in particular Further development of initiatives for the ecological transition and the circular economy through state-of-the-art plants and increasingly green services Ongoing growth in the energy customer base, reaching almost 3.6 million Today, the Board of Directors of the Hera Group, chaired by Cristian Fabbri, unanimously approved the consolidated results for the first quarter of 2023. For the Hera Group, the first quarter closed with improved operating results and investments compared to one year earlier, even though the scenario still shows a considerable amount of uncertainty, with effects on the commodity prices and a slowdown in production and international trade. Both internal and external growth drivers in Hera’s multi-business portfolio enabled it to achieve an excellent operating and financial performance while pursuing the creation of value for all stakeholders. Cristian Fabbri, Hera Group Executive Chairman: “The first quarter of 2023 closed with increased operating results, supported by the positive performance of the free-market energy and waste management businesses. We have thus confirmed our ability to gain new market shares, to provide services that are favoured by customers, and effectively leverage upon our competitive advantages in all our activities. The significant positive cash flow over the first quarter allowed us to reduce our debt and significantly improve the net debt/Ebitda ratio, which now stands at 2.84x.” Orazio Iacono, Hera Group CEO: “The positive operating cash flow of Q1 was able to fully cover a significant increase both in capital expenditures and investments which mainly concerned strengthening the infrastructures and plants managed, to the benefit of the quality of services provided to the customers as well as the resilience of our infrastructures and plants. We also strengthened and optimised our debt structure, thanks to the recent issue of a sustainability-linked bond worth 600 million euro and the simultaneous subscription of a 450 million euro sustainable revolving credit line. These are two additional milestones in sustainable finance and will lead us to allocate more than 1 billion euro in financing to green transition projects, to achieve the goals on the 2030 Agenda with concrete initiatives and respond to the challenges of a sustainable transition rooted in the social and industrial fabric. This operation, particularly appreciated by the market, guarantees additional financial flexibility.” Revenues amounting to over 5.6 billion In the first quarter of 2023, revenues amounted to 5,628.9 million euro, up 6% from the 5,312.0 million euro seen in the same period of 2022. The energy segments above all contributed to this result – mainly due to the higher volumes of electricity sold as a result of reinforced commercial initiatives and the safeguarded lots awarded last autumn – and the waste management area, partially due to acquisitions in the remediation and industrial waste treatment market. Ebitda* rises to 410.2 million Ebitda at 31 March 2023 rose to 410.2 million euro, +9.4% compared to 375.1 million euro in the first three months of 2022. This positive growth was mainly due to the overall contribution coming from the energy areas and the good performance of the waste management area. Increased net operating result* and stable pre-tax result* Ebit* at 31 March 2023 increased to 236.1 million euro, up 6.7% from 221.2 million euro in the first quarter of 2022. This performance was positive even after higher depreciation and amortisation due to the significant increase in investments and provisions for bad debts resulting from the increase in turnover, including last resort markets. Net profit* rises to 140.3 million euro Thanks to a tax rate coming to 26.8%, down from the previous year, net profit* rose to 140.3 million euro (+1.2%), as against 138.6 million euro in the first quarter of 2022. Net profit attributable to Group shareholders* settled at 128.2 million euro, up +0.7% from 127.3 million euro at 31 March 2022. Sharp increase in operating investments and Group solidity reinforced The Group’s capital expenditures, including capital grants, amounted to 155.7 million euro, up sharply (+20.5%) compared to 129.2 million euro at 31 March 2022, and mainly involved work on plants, networks and infrastructures. Regulatory upgrading, instead, mainly concerned gas distribution, with a large-scale meter replacement, and the purification and sewerage area. For further information Press release Investors web area primo_piano_result_Q1_23_EN.png 110x150_risultati_Q1_23_primo_piano.jpg

The 2022 Sustainability Report confirms its commitment to a just transition. Pursuing carbon neutrality, regenerating resources, enabling resilience and innovating remain the main levers for shared value Reporting with clarity and transparency on the results achieved, sharing the challenging objectives on which corporate choices are based with stakeholders and, above all, striving to make people, needs and the enhancement of territories our focus: these criteria once again form the basis underpinning our 2022 Sustainability Report. As in 2021, the document also includes a report on all activities in accordance with the EU taxonomy of environmentally sustainable activities, with particular reference to climate change mitigation and adaptation objectives. In total compliance with Brussels and the primary international policies, the multi-utility thus continues its path towards change, combining climate action and social inclusion, in the belief that no step forward can be sustainable unless it is fully endorsed by everyone. Creating value together with communities: over € 2.3 billion distributed in the serviced territories Our sustainable growth is the result of a business model that continues to enhance people and support the communities it services towards a more just future in environmental, economic and social terms. Compared to 2021, total economic value for stakeholders rose to more than € 3 billion: this includes employees (601.1 million), shareholders (236.3 million), the public administration (151.8 million) and suppliers (approximately 1.4 billion). Over € 2.3 billion of this amount, or 76%, is distributed in the territories serviced, where the multi-utility guarantees service continuity and efficiency, with significant investments to innovate its infrastructure assets, which will be decisive in meeting climate challenges in coming years. Shared-value EBITDA also increased: € 670.6 million (+17%) Among the most significant achievements, the shared-value Gross Operating Margin (EBITDA) - i.e., referring to business activities generating environmental and social benefits in the three areas of carbon neutrality, the circular economy, resilience and innovation - rose to € 670.6 million (+17% compared to 2021) or 52% of total EBITDA, with an improvement across all target parameters. In other words, it means making what has been done even more sustainable and continuing to grow, evolving the business in the right direction. For further information Press release 2022 Sustainability Report Watch the video img_primo_piano_bs_eng.png img_110x150BS_eng.jpg