Press Releases and Notices

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

2018-03-27 be2017_870x320_slide_eng.1522151642.jpg Improvement seen in all operating, financial and sustainability indicators. These results, which exceeded expectations, crown a path of development that has led the multi-utility to quintuple its EBITDA over its 15 years of operations. The Group's multi-business model and the balance between internal and external growth prove once again to be key factors in its success. Proposed dividends rise to 9.5 cent/share. S&P upgrades the outlook from stable to positive. Hera Group approves results at 31/12/2017 /group_eng/investor-relations/results-and-presentations/y2017 /documents/1514726/4210743/Financial+results+as+of+31_12_2017.pdf/103e1350-e7eb-ee2d-5f2f-6e985bffc353?t=1629971620065 /documents/1514726/4210743/GH_Analyst_Presentation_Y2017.1522145272.pdf/c3609f23-0deb-f41b-fc1f-3605403b85f5?t=1597908284022 http://investornews.gruppohera.it/en/?n=54 /documents/1514726/4210743/Dati_finanziari_31_12_17_eng.1522145521.xls/62fdb8c6-aa55-736c-1dfb-5e5c82422c2b?t=1597908283687 https://www.slideshare.net/Gruppo_Hera/analyst-presentation-y2017 /group_eng/investor-relations/results-and-presentations/archive/benchmark-by-business /group_eng/investor-relations/results-and-presentations/archive/financial-benchmark /group_eng/investor-relations/results-and-presentations/interactive-data HTML Y2017 results Financial results as at 31/12/2017 Analyst presentation: Y2017 results ( 1077kb - PDF) Newsletter: Y2017 results Financial data as at 31 December 2017 Slideshare Y2017 Benchmark by business Benchmark of consolidated results Interactive data Financial highlights Turnover at € 6,136.9 million (+10.3%) EBITDA at € 984.6 million (+7.4%) Net profits at € 266.8 million (+21.1%) Net debt improves, coming to € 2,523.0 million Proposed dividends rise to 9.5 cent/share S&P rating: BBB with positive outlook Operating highlights Contributions to growth come from all business areas, in particular free market activities, such as the Electricity and Waste Benefits derive from recent Group acquisitions in liberalised waste management and energy markets (most notably Aliplast) Further reinforcement of the energy customer base, reaching 2.4 million users, thanks to marketing operations, recent acquisitions and the tender awarded for safeguarded services Improvement in all sustainability indicators, with 2017 shared value EBITDA rising by 10% to € 329 million Today, the Hera Group’s Board of Directors unanimously approved the consolidated financial results at 31 December 2017, along with the Sustainability Report. All operating, financial and sustainability indicators improve, crowning 15 years of uninterrupted growth The 2017 financial year closed for the Hera Group with results higher than expected, and with all operating, financial and sustainability indicators showing clear improvement over 2016. These particularly positive results, in line with the content of the Business Plan to 2021, confirm the validity of the company’s multi-business strategy, which allows it 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, furthermore permitted the Group to achieve continued growth, which resulted from factors including its ability to foresee and grasp the best opportunities in an increasingly challenging regulated and free-market scenario, whose models for future development continue to evolve. These results represent the culmination of a path that has led the multi-utility to achieve significant goals over its 15-year lifespan: from a quintupled EBITDA to almost eight times the amount of net profits (compared to 2002), only to mention a couple, without counting the 25 acquisitions brought to completion, which have produced considerable synergies. Moreover, the results reached confirm the Group’s constant pursuit of objectives involving all aspects of sustainable development: environmental, social and economic. A 10% rise in shared value created was in fact seen in 2017, through activities that meet the UN Agenda’s drivers for sustainable development and the goals defined by various levels of government. Turnover exceeds 6 billion, rising by 10.3% In 2017, turnover came to € 6,136.9million and, on equal terms, showed an increase over the € 5,561.5 seen in the previous year (+10.3%). This result reflects, in addition to the entrance of the Aliplast Group and other minor acquisitions now part of the company’s scope of operations, a higher amount of trading, a rise in regulated revenues from the water service and an increase in revenues and volumes of gas and electricity sold. EBITDA grows to € 984.6 million (+7.4%) EBITDA rose to € 984.6 million, with a sharp increase over the € 916.6 million seen in 2016 (+7.4%). This growth in EBITDA was sustained by the good performance shown by all businesses, above all the energy areas, which recorded a € 50.3 million increase. This rise was driven above all by Electricity, ensuing from higher earnings in asset management and trading activities, and in free market and safeguarded sales. The contribution coming from the waste area was also remarkable, for reasons including an enhancement of recycling activities. Operating results and pre-tax profits rise, and financial management improves Operating profits increased to € 479.3 million, compared to the € 457.1 million recorded in 2016 (+4.9%), in spite of the higher amortisation owing to changes in the scope of operations and higher provisions for bad debt, mainly involving the new safeguarded customers acquired through the tenders held in late 2016. Pre-tax profits increased to € 377.8 million (+11.2% compared to the € 339.7 million seen in 2016), as an effect of the improvement in financial management, which contributed with € 16 million more than in the previous year. These good performances can be ascribed to higher financial revenues and a more efficient and flexible financial structure, which allowed the cost of debt to be lowered. Strong increase in net profits, reaching € 266.8 million (+21.1%) Group net profits rose to € 266.8 million, with a significant increase (+21.1%) compared to the € 220.4 million witnessed in the previous year, owing among other things to a lower average tax rate, which settled at 29.6% instead of the 35.1% seen in 2016. Profits pertaining to Group Shareholders came to € 251.5 million, up 21.3% over the previous year. Investments reach € 440 million, Net debt/EBITDA ratio further improves to 2.56, S&P rating BBB with positive outlook In 2017, Group investments amounted to € 396.2 million. Including approximately € 44 million in capital grants, the Group’s overall investments came to € 440.5 million, growing by roughly 14% compared to the previous year and mainly destined to interventions on plants, networks and infrastructures. These were flanked by regulatory upgrading above all concerning gas distribution, with an intensive meter substitution, and the purification and sewerage areas. Net debt in 2017 came to € 2,523.0 million, improving by roughly € 36 million compared to the € 2,558.9 recorded in 2016, thanks to an increase in operating cash flows that allowed higher investments and M&A operations to be financed and June’s annual dividend payment to be entirely covered (coming to € 140 million overall). The net debt/EBITDA ratio fell to 2.56, with a further decrease following the one seen in 2016; this ratio benefitted from both rising operational results and a reduction in net debt. The results reached, the resilience of the Group’s business model and the solid foundations of its Business plan allowed it to obtain a revision in the outlook of its rating from Standard & Poor’s, going from stable to positive. Further improvement in the Group’s sustainability profile, along with a 10% increase in shared value EBITDA The positive operating results were matched by data confirming the multi-utility’s growing attention towards sustainability, as witnessed by the approval of the Sustainability Report at the same time as the year-end financial statements for the twelfth consecutive year. Furthermore, the Hera Group was among the first to introduce, as of last year, a new and evolved approach to sustainability, including shared value in its financial reporting, i.e. all business activities that in addition to generating EBITDA for the company respect the drivers of sustainable development defined by the UN Agenda and the goals set by various levels of government. In 2017, the Hera Group’s shared value EBITDA reached € 329 million, increasing by 10% over the previous year: this result perfectly reflects the path marked out in the Business Plan, in which this indicator is projected to reach 40% by 2021. Improvements were seen in all performances measured by energy consumption (from decarbonisation to energy efficiency operations and renewable source development), and by material recovery (from indicators concerning recycling, landfill use and initiatives promoting the concrete development of a circular economy), in addition to all social and local factors involved. In line with this perspective, the Group is now part of international programs such as the CEO Water Mandate and the Ellen MacArthur Foundation’s CE100, a network made up of the world’s 100 companies most committed to the transition towards a circular economy. Proposed dividends rise to 9.5 cent/share The Board of Directors, in light of the results achieved and the solidity of the Group’s assets, has decided to put a dividend of 9.5 cents per share to the Shareholders Meeting to be held on 26 April, higher than in the past and in line with the content of the Business Plan. The ex-dividend date has been set at 18 June 2018, with payment as of 20 June 2018. Gas EBITDA for Gas, which includes services in natural gas distribution and sales, district heating and heat management, rose to € 301.7 million, fundamentally in line with the € 300.6 million seen in 2016. This result was obtained mainly thanks to internal growth, with positive contributions coming from the management of distribution and sales activities, an expanded customer base, the positive trend seen in prices and higher volumes of trading. These positive results proved more than able to offset lower earnings in district heating. The results were also sustained by the acquisition of the Abruzzo company Verducci Servizi and the default gas service, which allowed volumes sold to increase, with the number of customers rising to roughly 1.4 million (+14,900 customers), to which sales activities and customer loyalty programs also contributed. Net investments in Gas exceeded € 100 million in 2017, with a € 6.2 million increase compared to 2016, mainly destined to non-recurring maintenance on networks and plants and the large-scale meter substitution introducing new-generation devices and making the networks smarter. The gas business accounted for 30.6% of Group EBITDA. Water cycle The integrated water cycle, which includes aqueduct, purification and sewerage services, recorded an EBITDA of € 229.9 million, showing a slight growth over the € 228.8 million seen in 2016, thanks to higher regulated revenues and operative efficiencies, which offset the lower revenues for new connections. Owing to the high level of service quality, moreover, the corresponding bonuses were granted by the Authority. Net investments in the integrated water cycle amounted to € 113.1 million. Including capital grants, investments in this area came to € 156.6 million (up compared to the € 131.8 million seen in 2016), of which € 63.8 million in the aqueduct, € 42 million in sewerage and € 50.8 million in purification. The integrated water cycle business accounted for 23.3% of Group EBITDA. Waste EBITDAfor Waste, which includes waste collection, treatment and disposal services, settled at € 246.0 million, growing by 6.6% over the € 230.7 million recorded in 2016. This positive result is due to both changes in the scope of operations, with the 2017 acquisitions of the Aliplast Group and Teseco, which gave an important impulse towards a circular economy and the management of industrial waste, and internal growth sustained by higher volumes of market waste treated and a positive trend in prices. This allowed the loss of incentives concerning the Isernia plant and a few non-recurring entries to be offset, the latter mainly involving a temporary halt in some WTE plants (in the first part of the year) and costs for demolition in the S. Agata Bolognese site, where one of Italy’s first plants for bio-methane production is now in the advanced stages of construction, which will become operational within 2018. Good results were also seen in the area of sorted urban waste collection, which rose to 57.7%, compared to the 56.4% seen in 2016, thanks to a range of projects implemented across all areas served. The waste management business accounted for 25% of Group EBITDA. Electricity Electricity, which includes services in electricity production, distribution and sales, recorded an EBITDA of € 184.5 million, with a sharp improvement compared to the € 135.3 million recorded in 2016 (+36,4%), thanks to activities in trading, higher income in production and in free market and safeguarded market sales. The number of electricity customers is now over 980,000 (+9% compared to 2016), thanks to reinforced marketing operations and the larger customer base deriving from the tender awarded for safeguarded services. The amount of Group EBITDA accounted for by the electricity area rose to 18.7%. Statement by Executive Chairman Tomaso Tommasi di Vignano “The results reached allow us to draw a few conclusions as to the path of growth followed by Hera over these first 15 years of its history: an operating performance that clearly shows through in Group EBITDA, which has quintupled compared to the one seen in 2002, without counting the positive effects of financial and fiscal management, which in turn bear witness to an even more considerable growth, given that 2017 net profits reached 7.8 times those recorded in 2002. Opportunities for internal and external development (with 25 companies acquired over the years) have led not only to an increase in size, but above all to higher efficiencies and productivity, as is proven by EBITDA per employee, which has virtually tripled. The central role given to creating value for our shareholders has also been confirmed: on the basis of the results reached, we will put to the Shareholders Meeting a dividend of 9.5 cents/share, up 5.5% compared to the dividend paid in 2016 and in line with the policy communicated last January. The return implied by this dividend would thus come to 3.3% and, considering the 32.8% rise in the price of Hera stock seen over 2017, the overall return for shareholders will exceed 36%.” Statement by CEO Stefano Venier “The 2017 results confirm the validity of our actions in financial planning and management, to the point that they have already allowed us to lower our debt more than was expected. The substantial improvement in operating and financial indicators, furthermore, was accompanied by excellent working performances, confirming the quality of the business initiatives deployed to achieve a long-lasting and sustainable growth. Even the targets met in terms of higher creation of shared value allow us to affirm that 2017 was, for us, an important milestone along our path of growth and, in various senses, represented a new starting point to give an effective response and a tangible contribution to the noteworthy challenges that lie in the future.” 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 financial statement and related materials will be available to the public pursuant to the terms established by law at the Company Headquarters, on the website www.gruppohera.it and on the authorised storage platform 1Info (www.1info.it), within 4 April 2018. Unaudited extracts from the Financial Statements at 31 December 2017 are attached. PROFIT & LOSS(M€) 31/12/2017 INC% 31/12/2016 RECLASSIFIED* INC.% CH. CH. % Sales 5,612.1 5,131.3 +480.8 +9.4% Other operating revenues 524.8 9.4% 430.2 8.4% +94.6 +22.0% Raw material (2,606.8) -46.4% (2,176.8) -42.4% +430.0 +19.8% Services costs (1,952.2) -34.8% (1,896.7) -37.0% +55.5 +2.9% Other operating expenses (84.6) -1.5% (75.0) -1.5% +9.6 +12.8% Personnel costs (551.6) -9.8% (524.1) -10.2% +27.5 +5.2% Capitalisations 43.0 0.8% 27.8 0.5% +15.2 +54.7% Ebitda 984.6 17.5% 916.6 17.9% +68.0 +7.4% Depreciation and provisions (505.3) -9.0% (459.6) -9.0% +45.7 +9.9% Ebit 479.3 8.5% 457.1 8.9% +22.2 +4.9% Financial inc./(exp.) (101.5) -1.8% (117.4) -2.3% -15.9 -13.5% Pre tax profit 377.8 6.7% 339.7 6.6% +38.1 +11.2% Tax (111.8) -2.0% (119.3) -2.3% -7.5 -6.3% Net profit before special items 266.0 4.7% 220.4 4.3% +45.6 +20.7% Special items 0.8 0.0% - 0.0% +0.8 +100.0% Net profit 266.8 4.8% 220.4 4.3% +46.4 +21.1% Attributable to: Shareholders of the Parent Company 251.5 4.5% 207.3 4.0% +44.2 +21.3% Minority shareholders 15.3 0.3% 13.1 0.3% +2.3 +17.4% *The amount of 2016 revenues has been adjusted (with no effect on results) to account for the reclassification of system charges and contributions coming from former green certificates. BALANCE SHEET(M€) 31/12/2017 INC.% 31/12/2016 INC.% CH. CH.% Net fixed assets 5,780.6 110.5% 5,564.5 108.7% +216.1 +3.9% Working capital 23.2 0.4% 99.9 2.0% (76.7) (76.8)% (Provisions) (574.8) (10.9%) (543.4) (10.7%) (31.4) +5.8% Net invested capital 5,229.0 100.0% 5,121.0 100.0% +108.0 +2.1% Net equity 2,706.0 51.7% 2,562.1 50.0% +143.9 +5.6% Long term net financial debt 2,735.4 52.4% 2,757.5 53.9% (22.1) (0.8)% Short term net financial debt (212.4) (4.1%) (198.6) (3.9%) (13.8) +6.9% Net financial debts 2,523.0 48.3% 2,558.9 50.0% (35.9) (1.4)% Net invested capital 5,229.0 100.0% 5,121.0 100.0% +108.0 +2.1% Press release Y2017 2018-03-22 13:31:00 Hera Group approves results at 31/12/2017

2018-03-20 Nuova_Palazzina_1_870x.1533219432.jpg Headquartered in Atessa (Chieti), Sangroservizi offers natural gas sales services to roughly 7,000 customers. Following the recent acquisition of Blu Ranton and prolonging the operations concluded over the last three years, Hera thus further consolidates its presence and its strong local roots in the Abruzzo region. Hera Group: green light for the merger between Marche Multiservizi and Megas.net Slightly over a month after the acquisition of Blu Ranton, the Hera Group continues consolidating its locally rooted presence in the Abruzzo region. Through its subsidiary Hera Comm, indeed, it has purchased 49% of Sangroservizi S.r.l. from the Municipalities of Atessa, San Vito Chietino and Paglieta (all located in the Province of Chieti). Established in 2003 and legally headquartered in Atessa, Sangroservizi is a company active in natural gas sales with roughly 7,000 customers. This operation prolongs the series of acquisitions involving Fucino Gas, Alento Gas, Julia Servizi, Gran Sasso,Verducci Servizi and Enerpeligna, in addition to the aforementioned Blu Ranton. Thanks to them, in the last three years the Hera Group has become an outstanding operator in Abruzzo and in the adjacent Marche region, where it already provides electricity and gas services to over 240,000 customers, including its progressive integration with Hera Comm Marche. The multi-utility thus continues to pursue its development of a model that brings together the local, physical kind of presence typical of smaller enterprises on the one hand, and on the other the potentialities for innovation in services and offers and the competitiveness that ensue from belonging to a Group that is among the main operators in Italy's energy market. "With this operation, we have reinforced our presence in the Province of Chieti, fully respecting the process of developing our activities in the Abruzzo and Marche regions" explains Cristian Fabbri, CEO of Hera Comm. "Applying our business model, which unites local management of services for citizens and a global vision to guarantee greater opportunities and competitiveness, allows us to have an increasingly widespread and well-structured presence over the localities served. This system makes it possible for us to meet all of our customers' needs, from daily assistance to a growing request for tailor-made services, improving, day after day, their customer experience. Our new customers as well will soon be able to tangibly appreciate this improvement". press_release_sangroservizi.1521563231.pdf 2018-03-09 17:13:00 Read more Hera Group: green light for the merger between Marche Multiservizi and Megas.net

2018-03-07 MMS_Megas870_1520433311_1533042726.1533218896.png Today, the two companies' Shareholders Meetings approved, in an extraordinary session, the project for merger by incorporation of Megas.Net into Marche Multiservizi. Hera Group: green light for the merger between Marche Multiservizi and Megas.net The project for an incorporation of Megas.Net and Marche Multiservizi (MMS), the largest multi-utility in the Marche region and part of the Hera Group (which currently holds 49.59% of MMS), has now become reality. Today, indeed, the two companies' Shareholders Meetings approved, in an extraordinary session, the project for a merger by incorporation of Megas.Net into Marche Multiservizi. The merger, which had already been given the go-ahead by the majority of the town councils of the two companies' Municipality shareholders and by trade unions, complies with the regulatory indications provided by legislative decree 175/2016 (so-called "Madia decree"). Above all, however, it represents a strategic operation for the area in question, allowing a range of objectives to be reached, including enhanced service efficiency, expense rationalisation and a more consolidated MMS. The final act of this corporate operation will see the stipulation of a deed of merger, after the amount of time required by law as of the shareholders meetings' resolutions. When the operation is concluded, public shareholders will hold roughly 55% of the share capital of Marche Multiservizi. press_release_merger_marchemultiservizi_megasnet.1520583862.pdf 2018-03-09 17:16:00 Read more Hera Group: green light for the merger between Marche Multiservizi and Megas.net

2018-01-30 Stefano_Venier.1534403921.jpg The second Italian company to do so, Hera thus confirms its own orientation towards the objectives set out in the UN's 2030 Agenda, re-launching its commitment to a sustainable water resource management, which in the areas served is worth over 110 million in investments per year. Gruppo Hera "The challenges involved in water resources must be considered on a global scale", states Stefano Venier, Hera Group CEO. "This is why Hera intends to continue giving shape to its efforts according to the framework set out by the United Nations. In this sense", Venier adds, "the CEOWater Mandate represents a valid tool for activation with which companies all over the world can identify, and come together for the future of the planet. After all", concludes the multi-utility's CEO, "Hera has long been active in all of the focus areas indicated by the mandate, demonstrating its ability to anticipate many of the orientations that the international community has rightly chosen." press_release_Hera_CEO_Water_Mandate.1517320783.pdf 2018-01-30 sinistra 13:47:00 Read more Gruppo Hera

2018-01-22 Calendar of events CALENDAR OF CORPORATE EVENTS (*) In accordance with art. 2.6.2 (Required Reporting) of the "Rules of the markets organised and managed by Borsa Italiana S.p.A.", please find below our annual calendar of corporate events: 27 March 2018 - Meeting of the Board of Directors to approve the previous year's preliminary financial statements. 26 April 2018 - Shareholders Meeting to approve the previous year's financial statements. 10 May 2018 - Meeting of the Board of Directors to approve additional financial information for the period ending on 31 March 2018. 30 July 2018 - Meeting of the Board of Directors to approve the half-year financial report at 30 June 2018. 8 November 2018 - Meeting of the Board of Directors to approve additional financial information for the period ending on 30 September 2018. The Board of Directors, as communicated for the previous financial year and in line with the past, in order to guarantee regularity in the information provided to the financial market and investors, has decided to continue preparing and publishing this information quarterly, on a voluntary basis and in line with current regulations. (*) barring changes 20180122_calendar_press_release.1516638074.pdf 2017-01-26 17:26:00 Related contents Calendar of events

2018-01-10 Based on the forecast for year 2017, EBITDA amount reached roughly 980 million, the Group's path of growth will continue to focus on investments, innovation and agility, in order to seize the emerging opportunities in the utility sector. Internal growth will be favoured by efficiencies and by innovative and sustainable solutions, while the Group's financial soundness will allow external growth to proceed. Operating-financial highlights 2021 EBITDA: € 1,135 million (+218 million over 2016 EBITDA) Overall industrial and financial investments: almost € 2.9 billion (+62% over the investments seen in the past five years) Net debt/EBITDA ratio remains below 3 Profits/share to increase by an annual average of roughly 5% over the duration of the Plan Dividends expected to keep rising, reaching 10.5 cents per share as early as 2020 (+17% over the last dividend paid) Industrial highlights The 5 strategic priorities confirmed: growth, efficiency and excellence, with an increasing focus on innovation and agility Group development based on a balanced mix of internal and external (M&A) growth Reconfirmation of current grants in tenders for gas distribution and urban waste collection, and confirmation of the trends of growth in the waste recycling and treatment sector, in line with the principles of a Circular Economy Strategy reflects the main transitions currently underway in the sector: Circular Economy, Customer Experience, Utility 4.0 Objective of over 3 million energy customers at 2021, with 30,000 new gas and electricity customers acquired as of the current year and a reinforcement of commercial synergies, thanks to the recent acquisition of a further 29.5% of Hera Comm Marche Shared value to reach over € 450 million Preliminary consolidated results for 2017 show roughly 980 million in EBITDA, and a plan geared towards growth This morning, the Hera Group's Board of Directors, which met to discuss the Business plan to 2021, also examined the preliminary consolidated results for 2017, which confirm a year-end EBITDA of roughly € 980 million, up almost 7% over the 917 million seen at 31 December 2016 and exceeding the forecast of the previous business plan. The Group's financial solidity will thus see an improvement in the net debt/EBITDA ratio, at approximately 2.6x. On the firm basis provided by this result and by an increased financial flexibility, the Board of Directors approved the new Plan to 2021, which reflects a strong commitment to further growth in the Group's businesses, within a scenario marked by far-reaching changes. A deeply evolving scenario The scenario promises to be denser than ever in events that will bring about a profound evolution in almost all sectors in which the Group is active. In a framework showing clear and positive signals of economic recovery, Italian operators will be called to participate in the process, already underway thanks to the tenders for gas distribution announced by the Authority, of a significant rationalisation in the number of operators. In the waste collection sector, considering the recent transfer of power to the national Authority for energy, gas and the water service (renamed ARERA), service concession tenders which have already expired or will do so during the next five years are expected to be initiated. Other regulatory changes are also expected for segments involving protected energy service customers, intended to promote a further increase in added value for the services offered and greater competition on the marketplace. To this one must add the ongoing processes of consolidation in the energy sales and waste treatment sectors, which are currently among the most fragmentary in Europe and are, in the environmental services sector, at the root of the country's shortcomings in efficiency and infrastructures. The investment plan and the solidity of the Group's assets Faced with the numerous and diversified opportunities offered by the new scenario, the Plan to 2021 foresees investments amounting to almost € 2.9 billion, up roughly 400 million over the previous strategic plan. On the one hand, they will serve to fuel growth over the upcoming five years, and on the other to spark a transformation of Group businesses towards the new industrial paradigms of Circular Economy and Utility 4.0. Over 70% of the investments expected by the Plan will in fact be dedicated to networks, partially going towards a reconfirmation of the concessions for gas distribution in the areas served, and partially to significant interventions in infrastructure modernisation and development, such as installing electronic meters, completing the Rimini seawater protection plan and upgrading the Servola and Cà Nordio purifiers. Furthermore, investments in innovative projects, such as extending smart grids to aqueducts or introducing new technologies for optimising purification sludge recovery, will allow an increase in network efficiency and a reduction in and energy and material consumption. This investment plan proves to be sustainable from a financial point of view, thanks to a positive and rising cash generation, sufficient to cover the investments themselves and dividend payments. The Group's financial solidity, as foreseen by the Plan, expressed in a 2021 net debt/EBITDA ratio of 2.9, will potentially leave room for additional investments, used to grasp opportunities not currently included in the Plan, without jeopardising the parameters that the Group has long maintained as a reference point. Strategy confirmed for seizing the opportunities offered by the scenario and creating shared value The actions envisaged by the Group will be founded on its fundamental principles, efficiency, excellence, growth, innovation and agility; this set of strategic priorities has led the Group to set in place, ahead of time, the necessary preconditions to adequately deal with the changing scenario that lies ahead. The strategy outlined in the Plan is concretely articulated according to the paradigms of a Circular Economy and the opportunities offered by Utility 4.0, through a growing digitalisation of processes, data collection and analysis and the widespread use of "intelligent" infrastructures. The Group, which has always been attentive to the issue of sustainability, in 2016 furthermore began financial reporting as to Shared Value, i.e. the portion of profits generated by projects that benefit the company and at the same time contribute to reaching the UN's 2030 Agenda (covering at least 10 of the 17 objectives indicated). In 2016 this portion accounted for roughly 30% of Group EBITDA and it is expected to rise to 40% or € 450 million overall (amounting to a 150 million increase) within 2021. Increasing EBITDA objectives, balanced between the various business areas, between regulated and free market activities, and between internal and external growth In view of the investment plan to be launched covering the upcoming five years, EBITDA is expected to reach € 1,135 million in 2021, with an almost 220 million increase over the 917 million recorded at the end of 2016. This growth will prove once again to be balanced between the Group's various business areas, while maintaining its current conservative risk profile thanks to the breakdown of its activity portfolio and the wider range of opportunities for growth offered by the reference scenario. A contribution to the increase in EBITDA over the duration of the Plan will indeed come from all areas (Networks, Waste and Energy), and will also be balanced between profits coming from regulated and free market activities and between internal and external growth. As regards internal growth, a high degree of attention towards extracting efficiencies has been confirmed, as has the continuation of plans to expand in markets, with an overall contribution at 2021 of € 138 million (up 17% over the 118 million of the previous five-year plan), sustained by progress in innovation in addition to the support coming from development investments. Further impetus towards growth will come from the lever of gas tenders, with an incremental EBITDA expected to reach 29 million through a reconfirmation of concessions in the current reference areas. For tenders involving waste collection the Plan is based on the idea of reconfirming services in the areas now served, while waiting for the future arrangements set out by the national Authority, ARERA. Concerning external development (M&A), the Plan expects a 107 million euro contribution to growth in EBITDA over the five years in question. This contribution is in line with what the Hera Group has achieved in the past, ever since it was established, through both mergers with other multi-utilities and acquisitions of mono-business companies operating in the energy sales and waste treatment sectors. The latter have been included in the Plan only as regards the operation concerning the Aliplast Group, carried out in 2017 (through the subsidiary company Herambiente, Hera now holds 80% of this Group, with the possibility of acquiring the remaining 20% within 2022), while additional opportunities offered by liberalised markets have been left "on top" of the objectives contained in the Plan. Increasing value for shareholders and an improved dividend policy The Plan confirms the Group's care towards creating value for shareholders, with profits per share increasing by an annual average of approximately 5% and an improved dividend policy with respect to both the past and the forecast of the previous Business plan. The dividend will indeed rise to 9.5 cents/share as of the payment pertaining to 2017 (to be made during the current financial year) and settle at 10.0 cents in 2018 and 2019, reaching 10.5 cents for 2020 and 2021 (+17% compared to the last dividend paid). Networks: smart infrastructures and excellence in services at the root of the Utility 4.0 model The majority of the growth over the duration of the Plan is expected to come from the networks area: EBITDA traceable to electricity and gas distribution, the water cycle and remote heating services will go from € 424 million in 2016 to 552 million in 2021, thus contributing to roughly half of the Group's overall EBITDA. A strong impulse will come from the over 2 billion in investments dedicated to the evolution and modernisation of networks, by adopting innovative technologies able to guarantee an excellent customer service (efficiency, safety, information exchange) and improve management competitiveness, with the aim of reconfirming the concessions already gained in the Group's reference areas. Efficiencies remain a strategic priority, and will contribute to growth over the five-year period with 24 million overall, to which one must add 15 million coming from the innovations introduced in networks (from energy efficiency projects applied to the most energy consuming activities, to automation systems in networks). Consolidating the Group's role as a reference point in the waste sector The waste sector EBITDA is expected to grow from the € 231 million seen in 2016 to 282 million in 2021. This growth will be sustained by the current positive trends in demand, and by approximately € 600 million in investments over the duration of the Plan. The latter will be dedicated to fuelling innovation in environmental services and maintaining an appropriate capacity of waste treatment in the reference area, without neglecting trustworthiness and sustainability. One concrete example of the application of the best technologies currently available is the creation in the Bologna area of the first biomethane production plant, which will become functional within 2018 and allow the circle to be "come home": from collecting the organic part of sorted waste and agricultural trimmings to introducing the methane produced into the network, achieving a particularly sustainable cycle and clear benefits for air quality. Particular attention will continue to go to developing sorted waste, expected to grow from 56% in 2016 to 70% in 2021, including improvement from a qualitative point of view as well, in order to gain the most value from the portions collected and increasingly reduce both environmental impact and tariffs for citizens. Efficiencies remain a cornerstone for the expected results, which will also be sustained by the innovations foreseen (the latter will contribute roughly 8 million to overall growth in the waste area). Furthermore, in 2017 the entrance of Aliplast within the Group's scope of operations has allowed Hera, already a leader in the sector, to introduce a new phase and be among the nation's precursors in developing a model of a circular economy. In the future as well, attention will go to solutions able to further increase the circularity of the Group's activities. The avant-garde position it has reached in treatment, reuse, recycling and energy valorisation thus becomes a heritage made available to industrial customers. The latter already see the Hera Group as a point of reference and a trustworthy partner, able to provide them with support in the evolution of their production processes, in line with the principles of a circular economy, by offering them an all-round service in waste management. Energy: over 3 million customers The energy sector will increase its EBITDA from the € 241 million seen in 2016 to 259 million in 2021. The challenging objective set by the Group is to reach over 3 million energy customers by the end of the Plan, making the most of both internally developing its own customer base, in line with its track record, and the opportunities offered by the market. These involve, for example, extinguishing protected categories in electricity, or the upcoming assignment of last resort services, in which the Hera Group has accumulated a solid experience over the years. Beginning with the over 2.3 million customers reached in 2017, the enlarged customer base will be able to rely on 30,000 new energy clients in the current year: 13,000 protected electricity customers in the municipality of Gorizia, recently acquired through the subsidiary EnergiaBaseTrieste, with 17,000 further gas and electricity customers soon added in the Marche and Abruzzo regions, thanks to a binding deal signed in the last few days. The strong point of both operations lies in integrating a local presence, in a physical sense, that is typical of smaller businesses, with the potential for innovation in services and offers, and the competitiveness that come from belonging to a Group that is among the main operators in the Italian energy market. This is the light in which Marche Multiservizi's acquisition of 29.5% of the share capital of Hera Comm Marche must also be seen, as brought to completion last December, in line with the consolidated decision to reinforce both the integration between Group companies and synergies across the areas served. The customer base will be enlarged thanks to the introduction of new offers, increasingly innovative and personalised, that combine energy sales with the supply of services with added value that are closely tied to the commodity itself (for example, tools for increasing energy efficiency in households). Furthermore, the Group will be able to defend its own customer base with increasing attention to customer experience, turning to digitalised processes and adopting efficient data management and analysis systems to guarantee an excellent service and accelerate the "time to market". Lastly, thanks to the knowhow gained in energy efficiency both within the company and when acting for third parties, the Group will be able to interface with public administrations, condominiums or businesses as reference partners for defining and implementing effective solutions for energy saving, an element which is increasingly crucial in local and national energy strategies. Tomaso Tommasi di Vignano, Hera Chairman The reference scenario shows deep changes occurring in all sectors in which the Group is active, and requires us to "change gears" in order to seize the opportunities that we have been preparing to handle for some time now. The challenging objectives contained in the Plan rest on the solid results achieved until present, and that we wish to turn into further growth from all points of view, both in terms of size and regarding improvements in quality, risk profile and sustainability. The targets reached, as is also demonstrated by the 2017 forecast, allow us to look towards an incremental profit projection compared to the previous Plan, and towards growing payments to shareholders, with an additional increase in dividends, following up on the one announced last year. Stefano Venier, Hera CEO Already today, the new frontiers of circularity and shared value are a reality for the Group, which it can use as levers for an increasingly avant-garde industrial development, with the goal of meeting our customers' evolving needs and facing the urgent drive towards sustainability set out in the agendas of all countries. Our Plan envisages an intense investment program, amounting to almost 3 billion euros, confirming the Group's financial solidity and leaving further room for additional opportunities. press_release_business_plan_2021.1515582769.pdf 2018-01-08 15:00:36 Il Gruppo Hera approva il Piano industriale al 2021

2017-12-14 Tomaso_Tommasi_di_Vignano.1509632134.1534411389.jpg Today, Herambiente completed the purchase of a further 40% of the Treviso company's shares, and the ensuing change in governance. The remaining 20% of the shares of this national leader in plastic recycling will be acquired within June 2022, as foreseen in the deal signed last January. Hera Group: control of Aliplast reaches 80% http://ha.gruppohera.it Herambiente "Being part of such a large company having deep roots in the communities served, as well as financial solidity and widely diversified specialisations, such as the Hera Group", explains the Chairman of Aliplast, Roberto Alibardi, "allows us, more and more every day, to broaden our horizons. It furthermore provides additional assuredness in continuing to develop our skills through a greater amount of attention given to research and technological innovation. This is the direction towards which we work on a daily basis, just as, at the same time, we are committed to furthering the process of integration and extending our competence in a sector as complex as plastics, following the business objectives defined together and pursuing new and ever more challenging goals". Tomaso Tommasi di Vignano 20171214_press_release_Aliplast.1513261391.pdf 2017-12-14 sinistra 13:20:00 Read more Hera Group: control of Aliplast reaches 80%

2017-11-08 9M_870x320_slide_eng.1510133724.png The consolidated third-quarter report at 30 September once again confirms the excellent momentum of growth seen during the current year, with all main operating and financial indicators showing further improvement. 9M2015 /documents/1514726/4210740/GruppoHera_9m2017_cs_eng.pdf/c19a2338-014a-5aaa-5d52-6dff0c501c5f?t=1597908238487 /documents/1514726/4210740/Hera_Group_Consolidate_Quarterly_Report_as_at_30_September_2017.1510131153.pdf/0586de9d-6af6-0dec-cecd-9c517948fbb5?t=1597908240435 /documents/1514726/4210740/GruppoHera_9M_2017_Analyst_presentation_def.1510153668.pdf/f240b3a3-7a61-31de-07c7-263dea9a1758?t=1597908239801 /documents/1514726/4210740/GruppoHera_Newsletter_9M_2017_eng.1510132327.pdf/7298c678-b293-001c-6d78-75208733d8cc?t=1597908239448 /documents/1514726/4210740/Dati_finanziari_ed_operativi_di_sintesi_9M_2017_eng.1510044934.xls/ccad87ad-c3fc-ff2c-357f-9ed1ed5e944c?t=1597908239125 Press release Financial report as at 30 September 2017 Analyst presentation: Results as at 30 September 2017 Newsletter: Results as at 30 September 2017 Financial data: Results as at 30 September 2017 Financial highlights Revenues at € 4,027.8 million (+11.4%) EBITDA at € 724.7 million (+11.4%) Net profit post minorities at € 182.9 million (+28.6%) Net debt at € 2,610.0 million Operating highlights Good contribution to growth coming from all businesses, in particular Energy Results were mainly underpinned by internal growth Positive effects coming from the merger of Aliplast and Gran Sasso Solid customer base in Energy business, with over 2.3 million clients, up 150,000 over the first nine months of 2016 Today, the Hera Group Board of Directors unanimously approved the consolidated economic results at 30 September 2017, which show further growth in all operating and financial indicators, as expected in the business plan. This growth, continuous since the first quarter, confirms the validity of the Group's multi-business model and of its strategy, that seeks for balance between internal and external growth. In particular, the statements for the first nine months of 2017 show the beneficial results of the entry of the companies Aliplast and Gran Sasso within the Group's scope of operations, and of the tenders awarded for 2017-2018 last resort, default and safeguarded supply services. Revenues rise, reaching € 4,027.8 million In the third quarter of 2017, revenues came to € 4,027.8 million, up 11.4% compared to the € 3,615.5 million recorded at 30 September 2016. In line with the positive macro-economic framework, this year profited from the entry of Aliplast and Gran Sasso within the Group, as well as from the positive effects ensuing from a higher trading activities, an increase in electricity price, a rise in volumes of gas sold and higher regulated revenues in the water sector. EBITDA increases to € 724.7 million The Group's consolidated EBITDA at 30 September 2017 grew from € 650.6 to € 724.7 million (+11.4%). The good performance coming from all Group areas is responsible for this result, in particular from the Energy business, which benefitted from higher profits in power generation and in safeguarded and default market sales. Positive results were also reached in the integrated water cycle and waste areas, thanks above all to the acquisition of Aliplast. Ebit and pre-tax profits up, financial management improves EBIT grew to € 357.9 million, against the € 329.2 million seen at 30 September 2016 (+8.7%), while pre-tax profits rose to € 283.4 million compared to € 239.1 million at the same date one year earlier (+18.5%), thanks to improvements in financial management. In particular, this good performance reflects a more efficient financial structure, partially obtained through the liability management operations carried out during the previous year. Net profit post minorities increases to € 182.9 million (+28.6%) Profits pertaining to Group Shareholders rose to € 182.9 million, against € 142.2 million at 30 September 2016 (+28.6%), thanks among other things to a 32% tax rate, notably better than the same figure for the previous year (due to a lower Ires rate and a continuous search for tax efficiency following the enlargement of the Group's scope of operations). Approximately € 280 million in investments, net debt essentially stable The Group's operating investments at 30 September 2017, including capital grants, amount to € 277.1 million, up compared to the same period in 2016 and in line with the business plan's forecast. Operating investments involved above all interventions on plants, networks and infrastructures, in addition to regulatory adaptations mainly concerning gas distribution, with a large-scale meter substitution, and the purification and sewerage area. Net debt came to € 2,610.0 million at 30 September 2017, with a slight reduction compared to first half of 2017 and remaining fundamentally stable with respect to the € 2,558.9 million recorded at 31 December 2016, considering the funds allocated to dividend payments and M&A operations. Gas EBITDA for Gas, which includes services in natural gas and LPG distribution and sales, district heating and heat management, came to € 201.4 million at 30 September 2017, up 8.0% over the same date one year earlier, thanks to growth in trading, higher volumes of gas sold and the larger scope of operations in the default service. The number of gas customers in the first nine months of 2017 totalled 1.4 million, rising by 3.9% over the same period in 2016, partially due to the acquisition of the company Gran Sasso (located in Abruzzo region). The Gas business accounted for 27.8% of Group EBITDA. Water cycle The integrated water cycle, which includes aqueduct, purification and sewerage services, recorded a 2.6% increase in EBITDA, going from the € 173.7 seen at 30 September 2016 to € 178.3 at the same date in 2017, thanks to higher revenues from distribution, in spite of increased operating costs and lower revenues from new connections. The integrated water cycle accounted for 24.6% of Group EBITDA. Waste The results reached in the Waste, which includes services in waste collection, treatment, recovery and disposal, show rising figures, with EBITDA going from € 172.2 million at 30 September 2016 to € 181.4 million at the same date in 2017 (+5.3%). This performance is due to higher volumes commercialised in waste treatment, a positive trend in the price of special waste and the entry within the Group of Aliplast, a national leader in plastic recycling, which consolidated the Group's position regarding the development of a circular economy. These results are all the more appreciable considering that they suffer from a lower contribution coming from incentives for renewable and assimilated sources, by roughly € 8 million. Further growth was also seen in sorted waste, which went from 55.8% at 30 September 2016 to 56.6% at the same date in 2017, thanks to the numerous new services offered. Waste accounted for 25.0% of Group EBITDA. Electricity Electricity, which includes services in electricity production, distribution and sales, recorded an EBITDA that grew from € 104.3 million at 30 September 2016 to € 147.4 million in September 2017, thanks to higher earnings in free market and safeguarded sales and higher profits in electricity generation. The number of electricity customers increased by 11.6% to 964,000, mainly owing to growth in the free market. Electricity accounted for 20.3% of Group EBITDA. Appointment by co-optation of a new director Furthermore, on today's date the Board of Directors resolved the appointment by co-optation of Prof. Alessandro Melcarne as a new director of Hera Spa, substituting the resigning Mr. Aldo Luciano. On the basis of statements provided by the director and information at the Company's disposal, the former meets the requirements of independence provided for by law. Prof. Melcarne has additionally stated that he holds no shares in the Company. The new director's curriculum vitae is available on the website www.gruppohera.it, in the section Corporate Governance/CdA. 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 3Q financial statement 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 30 September 2017 are attached. PROFIT & LOSS 30/09/2017 INC.% 30/06/2016 RECLASSIFIED INC.% CH. CH. % Sales 4,027.8 3,615.5 +412.3 +11.4% Other operating revenues 327.3 8.1% 259.9 7.2% +67.4 +25.9% Raw material (1,776.4) -44.1% (1,437.4) -39.8% +339.0 +23.6% Services costs (1,428.6) -35.5% (1,382.7) -38.2% +45.9 +3.3% Other operating expenses (45.3) -1.1% (34.7) -1.0% +10.6 +30.6% Personnel costs (409.1) -10.2% (390.1) -10.8% +19.0 +4.9% Capitalisations 29.0 0.7% 20.0 0.6% +9.0 +45.0% Ebitda 724.7 18.0% 650.6 18.0% +74.1 +11.4% Depreciation and provisions (366.8) -9.1% (321.3) -8.9% +45.5 +14.2% Ebit 357.9 8.9% 329.2 9.1% +28.7 +8.7% Financial inc./(exp.) (74.5) -1.8% (90.2) -2.5% -15.7 -17.4% Pre tax profit 283.4 7.0% 239.1 6.6% +44.3 +18.5% Tax (90.6) -2.3% (87.2) -2.4% +3.4 +3.9% Net profit 192.8 4.8% 151.8 4.2% +41.0 +27.0% Attributable to: Shareholders of the Parent Company 182.9 4.5% 142.2 3.9% +40.7 +28.6% Minority shareholders 9.9 0.2% 9.6 0.3% +0.3 +2.8% Balance Sheet (m€) 30/09/2017 Inc.% 31/12/2016 Inc.% Ch. Ch.% Net fixed assets 5,670.8 108.5% 5,564.5 108.7% +106.3 +1.9% Working capital 108.8 2.1% 99.9 2.0% (8.9) (8.9)% (Provisions) (553.5) (10.6%) (543.4) (10.7%) (10.1) +1.9% Net invested capital 5,226.1 100.0% 5,121.0 100.0% +105.1 +2.1% Net equity 2,616.1 50.1% 2,562.1 50.0% +54.0 +2.1% Long term net financial debt 2,713.3 51.9% 2,757.5 53.9% (44.2) (1.6)% Short term net financial debt (103.3) (2.0%) (198.6) (3.9%) +95.3 (48.0)% Net financial debts 2,610.0 49.9% 2,558.9 50.0% +51.1 2.0% Net invested capital 5,226.1 100.0% 5,121.0 100.0% +105.1 +2.1% GruppoHera_9m2017_cs_eng.pdf 2015-11-09 14:00:00 9M2015