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SDG_Action_110 Hera is part of the international team which collaborated in the conception and design of SDG Action Manager, the tool launched on 29 January 2020 by the United Nations Global Compact and BLAB with the aim of involving all cultural and business sectors in the building a Common Global Agenda, to improve people's lives and save our planet. SDG Action Manager offers a transversal way, to every type of business, an opportunity to know, manage and directly improve sustainability performance. The tool brings together the characteristics of B Lab's B Impact Assessment, the Ten Principles of the UN Global Compact and the Sustainable Development Goals UN agenda, and enables commercial activities to self-evaluate themselves in a dynamic way, arriving at a comparative analysis and a subsequent improvement. The international team also includes 2 other Italian companies, Enel and Chiesi Farmaceutici, also included, like the Hera Group, among 65 stakeholders who stand out for good industry practices: 30 business companies with competence in corporate sustainability and 36 bodies of the civil society, UN organizations and academia. SDG_Action_870 2020-01-31 Read more sdg_870.1580463032.jpg The tool provides all types of business an opportunity to learn about, manage, and directly improve their sustainability performance https://bcorporation.net/welcome-sdg-action-manager Visit B Corporation website SDG_Action_110

TE_2020_110 Never change a winning team. On the contrary: invest in it, to make it bigger and stronger. The Hera Group knows this well, and continues to dedicate resources, attention and commitment to its 9,000 employees. All of this has been certified, for the eleventh consecutive time, by the Holland-based Top Employers Institute, which has been researching quality standards in people practices since 1991. Hera has once again been recognised for its strategy, focused on people, and its best practices in terms of welfare, workplace environment, development and training. Top Employers is one of the most prestigious awards in this area, internationally. The exacting process through which companies are selected and certified is based on data analyses and detailed assessments concerning: investments in training and development, welfare policies and on-boarding for new hires, careful planning of selection processes and career paths, strategies aimed at increasing talent, corporate culture and a constructive workplace. Attention towards human resources is a key part of the Hera Group's strategic management. After all, the rapid changes seen in its external context, with factors including the environment, society, markets and technology, call for businesses to become increasingly agile, geared towards continuous improvement and able to do business while pursuing goals that are in the common interest. The Group's organisational procedures themselves are highly innovative, based on getting all employees involved, so that they can give meaning to their concrete operations, in line with the company's purpose. In so doing, Hera relies on a few of the best practices that have distinguished it for some time. Most importantly, "Hextra", the integrated corporate welfare plan intended for all Group employees (with investments reaching 4.9 million euro in 2019), which is characterised by an amount of monetary resources that can be "customised" by each worker, based on their own needs, as well as the possibility of converting part of their bonus for results into further welfare benefits. In order to improve work quality and agility, offices and workplaces have been made increasingly comfortable, functional and collaborative. As early as 2017, smart working was introduced, which, after a trial phase that produced positive and significant results, now involves over 1,500 employees. The Group's commitment to guaranteeing equal opportunity, along with inclusion and diversity valorisation, remains constantly present, as is proved by its recent inclusion in the 2020 Bloomberg Gender-Equality Index and the Refinitiv (priorly Thomson Reuters) "Diversity & Inclusion Index", which in 2019 saw Hera rank third in Italy and fourteenth worldwide, furthermore qualifying as the leading multi-utility overall. These are important results, considering that diversity and inclusion is an increasingly central issue for the international financial community, with investors becoming more interested in listed companies with excellent policies in this area. TE_2020_870 20200130_Top_Employers_2020.1580396096.pdf 2020-01-30 Read more top_employer_2019_870x320.1580396135.png The Group has been certified for the eleventh consecutive year, rewarding a strategic management that focuses on people and gets them involved in pursuing shared goals. Investments in welfare, training, diversity and innovation continue https://www.top-employers.com/en/ /group_eng/working-at-hera-group Visit Top Employers website Visit the "Working in Hera Group" web area Further Informations TE_2020_110

ede_hera_110 The "Bloomberg Gender-Equality Index" (GEI) has included Hera, together with nine other important Italian companies such as Mediobanca, Snam, Acea, Enea, Intesa Sanpaolo and Unicredit, among the 325 most committed companies, globally, in the promotion of gender equality through the development of dedicated policies and projects and transparency in the dissemination of information. The index, presented as part of the World Economic Forum in Davos, in Switzerland, from 21 to 24 January 2020, assesses the financial performance of companies active in terms of equality, and measures their tangibility through five parameters: female leadership and talent enhancement, gender pay equality, inclusive culture, rigid harassment policy and corporate recognition for women. sede_hera_870 2020-01-22 Further informations Hera_870.1579685805.jpg The index, presented at the World Economic Forum in Davos, brings together the 325 companies globally most committed to promoting gender equality policies https://www.bloomberg.com/company/press/bloombergs-2020-gender-equality-index-expands-to-include-325-public-companies-globally/ Read the news ede_hera_110

Hera Group promotes Circular View by Silvia Camporesi Silvia Camporesi - BIOGRAPHY Silvia Camporesi was born in 1973 in Forlì. With a degree in philosophy, she uses the languages of photography and video to develop stories inspired by ancient myths, literature, religions and real life. In recent years her work has focused on the Italian landscape. Since 2004 she has held solo exhibitions in Italy - Dance dance dance at the MAR in Ravenna in 2007, Planasia at the European Photography Festival in Reggio Emilia in 2014, Genius Loci at the MAC in Lissone in 2017 - and abroad - À perte de vue at the Chambre Blanche in Quebec in 2011; 2112, Saint James Cavalier in Valletta in 2013; Atlas Italiae exhibited at the Abbaye de Neumünster in Luxembourg in 2015, and Art Musings in Mumbai in 2017 and Desfours Palace in Prague in 2018. Group exhibitions she has participated in include: Italian camera, Isola di San Servolo, Venice in 2005; Con gliocchi, con la testa, col cuore at MART in Rovereto in 2012; Italy inside out at Palazzo della Ragione, Milan in 2015; Extraordinary Visions at MAXXI in Rome in 2016 and at the Kolkata Centre in Kolkata in 2019, and The Quest of Happiness at Serlachius Museums in Mantta, Finland. In 2007 she won the Celestial Award for Photography; she was among the finalists of the Talent Prize in 2008 and the Terna Award in 2010; she won the Francesco Fabbri award for photography in 2013, the 2015 Artefiera Rotary Award, and the 2016 BNL Award. She has published five books: La Terza Venezia (Trolley, 2012); Journey to Armenia (Quaderni di Gente di Fotografia, 2014), Atlas Italiae (Peliti Associati, 2015), Il mondo è tutto ciò che accade (Danilo Montanari Editore, 2019) and Doppio sguardo (Contrasto Books, 2019). She complements her artistic work with teaching. Her works are present in public and private collections, among which: MAXXI, Rome; MART, Rovereto; BNL Group, Milan. Hera Group promotes Circular View by Silvia Camporesi 2019-07-23 870x500_eng.1579256714.jpg After the SCART exhibition in 2018 and the Gasometro M.A.N. n.3 exhibition by Carlo Valsecchi in 2019, the Hera Group promotes Circular View by Silvia Camporesi, curated by Carlo Sala, from 24 January to 24 February 2020 at Spazio Carbonesi, Bologna. Hera Group promotes Circular View by Silvia Camporesi

Business_plan_110 Tomaso Tommasi di Vignano, Hera Executive Chairman The goals set out in the Business plan we are presenting today are in line with our history: for 17 years, we have been growing uninterruptedly, creating value for the areas in which we operate and for all stakeholders, beginning with our shareholders. This value translates into concrete benefits, concerning for example the investments made in services and plants, which become assets of the area itself, and in the activities in which Hera involves citizens, institutions, workers, suppliers and members of the third sector, acting as an “enabler” for their own growth. Our Plan is able to rely on both a solid initial basis – with preliminary year-end results 3% higher than expected – and significant growth in 2020, sustained among other things by the transaction with Ascopiave, which will now begin to contribute to our results. Stefano Venier, Hera CEO Our Business plan’s orientations, just like the initiatives carried out by Hera in previous years, reflect our growing attention towards sustainable development, circular economy and decarbonisation. Within the Group, sustainability is built into our corporate strategies themselves: by 2023, 42% of Ebitda will involve “shared value”, that is, projects that respond to the goals contained in the Un Agenda. In this area, investments will come to over 950 million euro over the period covered by the Plan, of which 330 million to make our cities increasingly smart, thanks to innovation and technological evolution, or again projects promoting energy efficiency, recovery and reuse of materials, air quality and network resilience, in order to face climate change. What’s more, we are looking even farther into the future, with the objective of reducing the impact of our activities up to 2030, in all areas in which we operate. Preliminary results for 2019 show Ebitda at 1,081 million; a new Plan to accompany development Today, the Hera Group's Board of Directors, chaired by Tomaso Tommasi di Vignano, approved the Business plan to 2023. The year-end projections confirm results exceeding expectations, due to both the highly positive results seen in the third quarter report at 30 September 2019, and the performances projected for the last quarter of the year. Ebitda is expected to reach roughly 1,081 million euro, up 4.85% compared to the 1,031.1 million seen in 2018, with the Net debt/Ebitda ratio settling at roughly 2.5, before including the financial impact of the Ascopiave transaction, which brings this indicator to roughly 3.05. The scenario: options for growth, along with a range of opportunities Even within a complex national economic scenario, marked by limited prospects for growth, Hera intends to continue along its path of development and maintain the resilience it has shown over time in this type of context. This will be achieved by relying on its noteworthy available asset portfolio, the skills of its employees, the diversified portfolio mix and the opportunities now emerging in its various business areas. The growing attention shown by European institutions towards promoting sustainable growth, with interventions such as the recent "A European Green Deal" program, will give further value to the goals already pursued by the Group in recent years, in terms of sustainability, innovation and circularity in its business management models. In regulated sectors, growth opportunities are linked to the reassignment of concessions through tenders and ongoing changes in Arera tariff regulation which, as of 2020, will be responsible for the waste management sector as well. In free market waste management activities, the persistent shortcomings in waste treatment plants on a national and European level sustains a positive trend in prices and demand, going to the advantage of operators provided with adequate infrastructures. As regards free market energy sales, over the period of time covered by the Plan, new yearly/two-year tenders for assigning last resort services are expected to be held and a process of liberalising protected electricity customers "maggior tutela" is expected to be gradually introduced. Growth, risk management and circular economy: the three pillars of the new Business plan In such context, Hera has defined its Plan to 2023 by elaborating marketing and industrial growth strategies based on an increasingly sustainable business model, making the most of the opportunities offered by new technologies and digital evolution. The new strategic document aims at leveraging upon the competitive advantages of its multi-utility portfolio: a wide service portfolio marked by a significant amount of regulated services; solidity in assets and finance; an ability to fund significant investments; a corporate environment and experience geared towards efficiency and innovation; and the investments constantly made in training its roughly 9,000 employees. In particular, the Group has set out its Plan to 2023 by following 3 strategic directives: industrial growth, risk management. Attention towards sustainability remains a fundamental aspect of the Group's strategy, reflecting the goals set out in the 2030 Agenda that concern the Group's activities (covering 11 of the UN's 17 SDGs): almost 3/4 of the growth expected over the period covered by the Plan will be sustained by projects that respond to this "call to action". Almost 2.9 billion euro in investments; solidity confirmed in assets and finance The new Business plan foresees investments coming to roughly 2.9 billion euro, of which roughly 2 billion will go towards maintenance of currently owned plants and 900 million in plant expansion. In particular, investments for internal plant development are expected to rise, now coming to 540 million, 120 more (+30%) than in the previous plan. The attention that Hera has shown over time to the solidity of its assets and its financial balance has allowed to include projects for expansion through M&As in its new strategic document, in addition to the ones already finalised over the previous year, including the partnership with Ascopiave. At the same time, space to manoeuvre remains, as does the flexibility required to grasp any additional opportunities for external growth in the upcoming years, not included in the current Plan. Leader in the waste management area, thanks to sorted waste, solutions for waste transportation and outstanding projects for a circular economy Increases are also expected for Ebitda in the waste management area, which will go from 252 million in 2018 to 307 in 2023, with 618 million in investments expected between 2019 and 2023. In this sector, the Group aims at confirming its commercial and technological leadership in the integrated waste cycle, thanks to its avant-garde set of plants which are in line with European best practices, which will be further developed in the years to come with the goal of increasing resource protection and maximising reuse. One example comes from biomethane production plants. The experience acquired from the Sant'Agata Bolognese (BO) plant - which transforms the organic portion of sorted waste into compost and biomethane which fuels buses, taxis and private vehicles - will lead new projects to be introduced in areas served by the Group, supporting the model of a circular economy. In particular, over the period covered by the Plan, the Voltana anaerobic digester, located in the area surrounding Ravenna, will also be partially reconverted to produce biomethane. Within 2023 the Hera Group furthermore expects an additional rise in sorted waste in the areas served, up from the 62.5% seen in 2018 to 75% in 2023. The Group's objective is to improve its quality as well, thanks to numerous campaigns designed to raise awareness and initiatives meant to get citizens involved. The circular model, indeed, in addition to the appropriate type of plants, also requires coherent individual and collective behaviour. A larger and better amount of sorted waste leads to further circular business opportunities. One example can be seen in the partnership between Hera and Eni intended to produce biofuel from waste oil brought by citizens, which is expected to be extended to other areas served by the Group, outside Emilia-Romagna, where the pilot project took place. 2020-01-09 Further informations Business plan to 2023 In light of the positive preliminary results for 2019, showing higher growth than expected in the previous Plan, and the M&A transactions carried out, the Group has presented its new five-year strategic document. This reflects its commitment towards further industrial development, sustained by investments, innovation and an eye to sustainability. Hera has confirmed its role as a "local multi-utility", capable of creating value for the areas in which it operates and for all stakeholders /-/hera-group-approves-business-plan-to-2023-1?inheritRedirect=true http://investornews.gruppohera.it/en/?n=179 /group_eng/investor-relations/hera-strategy/ Press release Newsletter: business plan to 2023 Strategy and Business Plan centrata Read more bp_2023_110x150.1578647530.png

GH-ASCOPIAVE_110 The Hera Group and Ascopiave S.p.a. have finalised the transaction that formalises, as of today, the birth of the largest operator in the energy sector in North-Eastern Italy, with over one million customers, while at the same time redefining gas distribution between the two partners. Today's closing, which follows up on the framework agreement signed on 30 July and the subsequent approvals granted by the appropriate authorities and bodies, involves an exchange of assets having an equal value between the Hera Group and Ascopiave, in energy sales on the one hand, and gas distribution on the other. The economic aspects of the transaction did not change with respect to what had been made public previously, except for adjustments in the closing date included in last July's framework agreement, and settlements defined for governance and management options for Ascopiave's shareholdings in EstEnergy and Hera Comm. This transaction is an important step along the evolution of the Hera Group and Ascopiave's business portfolios, and fully respects the orientations in development approved by their respective Boards of Directors. The Hera Group, indeed, will achieve the goal set out in its Business plan to 2022 in advance, reaching roughly 3.3 million customers in energy sales. Ascopiave, instead, will implement its own strategic repositioning plan, through a sales agreement with a leading figure and a consolidation of its own position in the core business of gas distribution. As regards energy sales, EstEnergy will manage commercial activities in the Veneto, Friuli-Venezia Giulia and Lombardy regions, with over one million customers (including roughly 795,000 gas contracts and roughly 265,000 electricity contracts). More specifically, the new company, whose value before the transaction came to 191.7 million euro, now includes the sales companies of the Ascopiave Group (Ascotrade S.p.a., Ascopiave Energie S.p.a. and Blue Meta S.p.a. as well as the joint ventures Asm Set S.r.l. and Etra Energia S.r.l.) and a shareholding in Sinergie Italiane S.r.l., for an overall value of 474.2 million euro, as well as those of the Hera Group (Hera Comm Nord-Est S.r.l), whose value comes to 159.0 million euro. The Hera Group holds 52% of the share capital of the new EstEnergy, while 48% is held by Ascopiave (which purchased this amount for a price of 395.9 million euro, based on the total equity value of EstEnergy, equivalent to 824.9 million euro). The Board of Directors is made up of 5 members, 3 appointed by Hera and 2 by Ascopiave, in line with the Shareholders Agreement signed today. The members, appointed today, are, for the Hera Group: Stefano Venier, CEO of the Hera Group; Cristian Fabbri, Group Market Manager and CEO of Hera Comm, who will also act as CEO of the new EstEnergy; Isabella Malagoli, Director of Sales and Marketing at Hera Comm. Ascopiave's members are: Giovanni Zoppas, CEO of Thelios, who will also act as Chairman, and Nicola Cecconato, Chairman and CEO of Ascopiave Group. As regards the reorganisation of gas distribution, Ascopiave purchased from the Hera Group, for a price set at 168 million euro, an area of concessions comprising roughly 188,000 users in the Veneto and Friuli-Venezia Giulia regions, which as of 31 December 2019 will come together in the newly created company named AP Reti Gas Nord-Est. Thanks to this transaction, the Ascopiave Group will manage roughly 775,000 users and a network with a total length of over 12,000 Km, thus consolidating its position in the national ranking. Lastly, as indicated in the agreement signed in late July, 3% of the share capital of Hera Comm was purchased by Ascopiave today, for a price of 54 million euro. Furthermore, Chairman and CEO Nicola Cecconato was appointed in the company's Board of Directors. Furthermore, as part of the overall redefinition of energy sales activities, Hera Comm directly acquired 100% of the share capital of Amgas Blu, a company entirely held by Ascopiave, which operates in the province of Foggia and has roughly 50,000 customers, for a price of 42.5 million euro. GH-ASCOPIAVE_870 20191219_closing_Gruppo_Hera_e_Ascopiave_eng_final.1576776341.pdf 2019-12-19 hera_ascopiave_870.1576776340.jpg The transaction between the two companies, finalised today, marks the birth, through EstEnergy, of the largest energy operator in North-Eastern Italy, whose BoD was also appointed. Ascopiave acquires new assets in gas distribution, reinforcing its position in the sector and reaching 775,000 users served. The Hera Group now has roughly 3.3 million energy customers overall Read more GH-ASCOPIAVE_110

FIRE_prize_110 The Hera Group has been recognized among the Italian companies most capable of promoting the rational use of energy. This was decided by the highest national body in the sector: the FIRE (Italian Federation for the Rational Use of Energy), which for the past three years has established the FIRE - Energy Manager Award. The Hera Group has now participated for the first time and immediately took the podium, thus obtaining an important recognition, on an equal footing with two other Italian companies, active in the civil and tertiary sectors. The award ceremony took place on 11th December 2019 in Milan, during the Enermanagement XII, a conference dedicated to energy management, resource management and the core business, at the end of a round table in which Hera Group experts also participated. The award assigned to the Hera Group is of great value, as it recognizes the attention and commitment that the company has always placed in the efficient use of energy in all its activities, starting with the overall goal of reducing its own energy consumption of 5% by 2020, with a saving of over 8 million euro compared to 2013 energy expenditure. FIRE_prize_870 20191212_FIRE_prize_press_release.1576150016.pdf 2019-12-12 Further informations 374AD479_008F_4660_8E5F_7F9B04C4C001.1576150015.jpeg The multi-utility received the FIRE - Energy Manager 2019 award, one of the most coveted awards in the sector at national level. The prize was awarded based on the activities carried out internally within the company to promote the rational use of energy /group_eng/sustainability/thematic-reports/value-to-energy Examine the report "Value to energy" Read more FIRE_prize_110

Hera is still on the podium for web communication Also this year the Hera Group is on the podium of online communication. In the Webranking 2019 edition, in fact, the multi-utility won the bronze medal. The study, published today in Corriere Economia, is conducted by Lundquist and the Swedish Comprend, the two expert digital communication companies that annually examine the corporate sites of the major Italian companies listed on the stock exchange, evaluating their communication strategies on the web in a national ranking. This year, the analysis includes 112 companies. In the 18th edition of the report, Hera ranked 3rd with a score of 90/ 100, ahead of large companies such as Generali, Mondadori, Telecom Italia TIM and ERG. In first position Eni was classified with a score of 93.2 while the third step of the podium is occupied by Snam with a score of 91.3. Hera Group is the best company in the Utilities sector. All results are available at this link. The third position on the podium is the detailed view of the company and its activities provided to the users of the institutional website. In particular, the multiutility proves to be close to the needs of various targets: Press and Careers sections, in fact, are particularly effective in communicating with the relevant public. Furthermore, the completeness of the sections dedicated to sustainability was much appreciated. Not only. The Hera Group's communication also distinguished itself in the first edition of the ".Trust" dossier by Lundquist, which placed the multi-utility in the "Bronze Class" and, in particular, in the parameter of measurement named "Substance", in which the narration is supported by a unified vision of the company mission and by concrete examples of the commitment to this mission. In order to respond to the continuous input and to the new needs of users, in fact, a constant commitment to transparency and renewal of content is needed. This important result is only possible thanks to an incessant and careful team work aimed at excellence and response and dialogue with its stakeholders. Since 2006, the year of its first entry into the top10 of the report, the Group has confirmed itself on the podium for 9 years. Hera Group stands out in the detailed view of the company and its activities and for the completeness of the sections dedicated to sustainability. Webranking 2019-2020 Italy listed Key information on webranking's survey Read the article from Corriere della Sera Download Whitepaper Italy listed 2019 2018-11-12 Further informations header_webranking.1575297694-2.png In the Webranking 2019 report on Italian digital communication conducted by Lundquist, in collaboration with Comprend, the Hera Group wins the third position distinguishing itself by the detailed view of the company and its activities and for the completeness of the web site sections focused on sustainability https://lundquist.it/webranking/webranking-italy-listed-2019-2020/ null To see the full results null Webranking 2019: il Gruppo Hera conquista la terza posizione

Hera BoD approves 3Q 2019 results Financial highlights Revenues at 5,063.2 million euro (increased by 16.4%) Ebitda at 785.8 million (increased by 5.0%) Net result at 242.0 million (increased by 12.1%) Net debt at 2,740.7 million, with Net debt/Ebitda reduced to 2.57x Operating highlights Good contribution to growth coming from business areas, especially the gas, water and waste management sectors Positive results thanks to both internal growth and M&A Sharp increase in energy customers, now almost 2.65 million, more than triple the historical average Today, the Hera Group’s Board of Directors, chaired by Tomaso Tommasi di Vignano, unanimously approved the consolidated financial results at 30 September 2019, which shows particularly positive results and further improved the growth already seen in the previous quarters. The trends seen over the first nine months of the year, which were higher than expected, reflected the Group’s effective implementation of its Business plan to 2022, having already reached 42% of the expected 200 million euro growth in Ebitda, ahead of the projected timeline. Some strategic projects, including M&As to be concluded in the near future, will be included in the upcoming Business plan to 2023. An excellent contribution came from internal growth, both in free market activities – which saw an increase in energy customers, now almost 2.65 million, and further expansion in the area of waste treatment – and regulated ones. The M&A operations carried out during the first nine months include the integrations of ATR in gas distribution and CMV Energia e Impianti’s energy sales operations, both of which are companies operating in the Ferrara area, the acquisition of Cosea Ambiente, with the Cosea Consorzio landfill in the Tuscan-Emilian Apennine area, and Pistoia Ambiente in Tuscany. Furthermore, a definitive formalisation of the Ascopiave deal is underway, according to the timeline previously set out. In general, the results for the first nine months confirm the Group’s winning strategy, based on a business model that balances regulated and free market activities, and brings internal growth together with an eye towards M&A opportunities. Sustainability and innovation have proven to be increasingly important competitive levers underpinned higher amount of investments, focused on “circular economy model” and “resource regeneration”, with the goal of creating value for the local area and all stakeholders. Revenues increase to 5,063.2 million euro In the first nine months of 2019, revenues came to 5,063.2 million euro, increased by 16.4% over the 4,348.4 million recorded at 30 September 2018, thanks to the contribution coming from all business areas. Trading operations and higher revenues and volumes sold in gas and electricity were particularly significant. Ebitda rises to 785.8 million Consolidated Ebitda at 30 September 2019 increased from 748.6 million euro to 785.8 (increased by 5.0%). This growth mainly came from the good performance seen in the Group’s various business areas, especially the gas and water businesses. Positive results were also recorded in the waste treatment business. Operating result and pre-tax profit up thanks to factors including financial operations The operating result grew to 405.5 million euro, compared to the 376.5 seen at 30 September 2018 (increased by 7.7%), and pre-tax profit rose to 338.4 million compared to the 311.0 recorded one year earlier (increased by 8.8%). Financial income and expenses at the end of the first nine months of 2019 settled at 67.1 million euro, substantially in line with the figure seen at 30 September 2018. Net result increases to 242.0 million (increased by 12.1%) The net result at 30 September 2019 rose to 242.0 million euro (increased by 12.1%), compared to the 215.9 million seen at the same date one year earlier, while the Net profit post minorities increased to 230.8 million, compared to the 208.7 million recorded at 30 September 2018 (increased by 10.6%). These results benefitted from factors including an average tax rate that came to 28.5%, an improvement over the 30.1% seen in the same period of the previous year, thanks in particular to the Group’s commitment to investing in technological and digital transformation, along the lines of Utility 4.0. Over 343 million euro in investments and reduction in the Net debt/Ebitda ratio At 30 September 2019, the Group’s operating investments, including capital grants, amounted to 343.1 million euro, increased by 15.7% over the same date in 2018 and in line with the indications set out in the Business plan to 2022. Operating investments mainly involved interventions on plants, networks and infrastructures, furthering their development and resilience in order to better face the challenges coming from climate change. Investments also went to regulatory upgrading above all in the purification and sewerage area, in addition to gas distribution, with a large-scale gas smart meter installation. These interventions also include Hera’s increasing investments in the field of innovation: yesterday, at Paris’ European Utility Week, the most important conference in the sector, NexMeter was launched, the innovative smart gas meter 4.0 created by the Hera Group alongside leading national and international partners and provided with advanced safety functions and technology. Thanks to investments coming to 45 million euro, the first 300,000 smart meters will be installed over the next three years. At 30 September 2019, net debt came to 2,740.7 million euro, remaining basically stable, thanks to a cash flow that entirely financed the investments made, including those aimed at development, and the annual dividend payment. The change compared to the 2,585.6 million recorded at 31 December 2018 was mainly due to figurative debts booked in application of accounting standard IFRS16 and, to a lesser degree, the M&A operations carried out recently, which will contribute to growth in results in the fourth quarter as well. Financial leverage reduced, with the net debt/Ebitda ratio coming to 2.57x, compared to the 2.62x seen at 30 September 2018. Gas Ebitda for the gas business – which includes services in natural gas distribution and sales, district heating and heat management – came to 239.8 million euro at 30 September 2019, increased by 7.9% over the same period in the previous year, in terms of both revenues and volumes sold. These results were obtained thanks to a larger amount of trading activities and the market expansion in the default and last resort supply services. A very significant rise was seen in gas customer base – almost 1.5 million overall, at the end of the third quarter of 2019 – with growth coming to 52,400 (increased by 3.7%) compared to the same period in the previous year, mainly due to the consolidation of the companies Sangroserviziand CMV Servizi, new customers in the default and last resort markets and marketing initiatives. The gas area accounted for 30.5% of Group Ebitda. Water The water business – which includes aqueduct, purification and sewerage services – showed a 7.4% growth in Ebitda, which reached 200.0 million euro, compared to the 186.2 million seen in September 2018. This growth was caused above all by higher revenues for new connections and supply; the latter reflected the results of the tariffs introduced by the Authority for the period from 2016 to 2019 and bonuses for contract quality. The integrated water cycle business accounted for 25.4% of Group Ebitda. Waste management In the waste management business – which includes services in waste collection, treatment, recovery and disposal – the Hera Group further consolidated its leadership, with a set of avant-garde plants that offers solutions across the board and supporting the evolution of activities towards “circular economy model”. Important results were also reached in sorted waste, which went from 61.4% in the first nine months of 2018 to 63.4% in the same period of the current year. At 30 September 2019, Ebitda rose to 192.0 million euro, showing a 2.0% increase over the 188.2 million seen at 30 September 2018, mostly achieved in the third quarter. This positive trend – which fully offset lower revenues due to a drop in volumes treated – was sustained among other things by trends in prices for special and industrial waste treatment, the contribution coming from Aliplast and new structures such as the waste treatment plant inaugurated in Cordenons (PN) and the innovative biomethane production plant in Sant’Agata Bolognese (BO), both having progressively become fully operational. These results furthermore benefitted from the acquisitions of Cosea Ambiente, including the landfill in Gaggio Montano (BO), and Pistoia Ambiente. As regards the higher efficiency reached, moreover, also note the merger of WasteRecycling into Herambiente Servizi Industriali, which thus became Italy’s largest company involved in industrial waste management, and Aliplast, which continued to show growth through market development and the extraction of synergies through integrations. The waste management business accounted for 24.4% of Group Ebitda. Electricity Ebitda for the electricity business – which includes services in electricity generation, distribution and sales – went from 133.2 million in the first nine months of 2018 to 129.1 million at 30 September 2019. This result is even more appreciable considering the effects of the new tender for 2019-2020 safeguarded services, in which a high degree of competition led to lower prices than the previous two-year period. This factor was almost entirely offset by higher volumes sold and higher revenues, as well as the positive contribution coming from activities in electricity trading and generation. Significant growth was also seen in the number of customers, which came to 132,400, up 12.7% over the same period in 2018, thanks above all to marketing initiatives in the free market area. At 30 September 2019, customers amounted to almost 1.2 million. The electricity business accounted for 16.4% of Group Ebitda. Profit & Loss (m€) 30/09/19 Inc.% 30/09/18 Inc.% Ch. Ch. % Sales 5,063.2 4,348.4 +714.8 +16.4% Other operating revenues 366.7 7.2% 321.1 7.4% +45.6 +14.2% Raw material (2,504.9) (49.5%) (1,966.6) (45.2%) +538.3 +27.4% Services costs (1,698.4) (33.5%) (1,529.2) (35.2%) +169.2 +11.1% Other operating expenses (45.6) (0.9%) (42.9) (1.0%) +2.7 +6.3% Personnel costs (418.7) (8.3%) (410.1) (9.4%) +8.6 +2.1% Capitalisations 23.5 0.5% 28.0 0.6% (4.5) (16.1%) Ebitda 785.8 15.5% 748.6 17.2% +37.2 +5.0% Depreciation and provisions (380.3) (7.5%) (372.2) (8.6%) +8.1 +2.2% Ebit 405.5 8.0% 376.5 8.7% +29.0 +7.7% Financial inc./(exp.) (67.1) (1.3%) (65.5) (1.5%) +1.6 +2.4% Pre tax profit 338.4 6.7% 311.0 7.2% +27.4 +8.8% Tax (96.4) (1.9%) (95.1) (2.2%) +1.3 +1.4% Net profit 242.0 4.8% 215.9 5.0% +26.1 +12.1% Special items - 0.0% 4.8 0.1% (4.8) (100.0%) Net profit 242.0 4.8% 220.7 5.1% +21.3 +9.7% Attributable to: Shareholders of the Parent Company 230.8 4.6% 208.7 4.8% +22.1 +10.6% Minority shareholders 11.2 0.2% 11.9 0.3% (0.7) (6.0%) Balance Sheet (m€) 30/09/19 Inc.% 31/12/18 Inc.% Ch. Ch. % Net fixed assets 6,151.2 108.9% 5,905.1 108.7% +246.1 +4.2% Working capital 109.6 1.9% 115.4 2.1% (5.8) (5.0%) (Provisions) (610.0) (10.8%) (588.2) (10.8%) (21.8) +3.7% Net invested capital 5,650.8 100.0% 5,432.3 100.0% +218.5 +4.0% Net equity 2,910.1 51.5% 2,846.7 52.4% +63.4 +2.2% Long term net financial debt 2,846.5 50.4% 2,558.8 47.1% +287.7 +11.2% Short term net financial debt (105.8) (1.9%) 26.8 0.5% (132.6) (494.8%) Net financial debts 2,740.7 48.5% 2,585.6 47.6% +155.1 +6.0% Net invested capital 5,650.8 100.0% 5,432.3 100.0% +218.5 +4.0% Hera BoD approves 3Q 2019 results 2019-11-13 For further informations 870x320_eng.1573644991.jpg The Group closed the first nine months of the year with particularly positive results, higher than expectations, and with the third quarter showing further improvement over the previous quarters. All main operating and financial figures showed growth, as did investments, with a special focus on innovation as a lever for development /-/hera-bod-approves-3q-2019-results-1?inheritRedirect=true Press release Hera BoD approves 3Q 2019 results

Refinitiv_110 The Hera Group has confirmed its ranking as one of Italy and the world's most interesting companies for investors who look favourably on businesses committed to supporting diversity and inclusion. The outcome has been published in the 2019 edition of the "Diversity & Inclusion Index", which measures the performance of over 7,000 listed companies worldwide. In this international ranking, Hera, with a score of 75, came in third in Italy and 14th globally, further improving its position (after ranking 22nd in 2018). Furthermore, it was confirmed as the leading multi-utility worldwide in this classification. The "Diversity & Inclusion Index", conceived and carried out by the international financial information giant Refinitiv (the new name for Thomson Reuters' Financial and Risk division), analyses the performance of companies based on a range of ESG (environmental, social and governance) factors, mainly focusing on four areas: diversity, inclusion, people development and news controversy. 150 researchers participate in one of the world's largest and most accurate projects in data collection and analysis concerning companies committed towards these issues, which find significant room in the Hera Group. The multi-utility, indeed, continues to invest in developing internal and personalised career paths, an orientation that has allowed it to reach a percentage of women having roles of responsibility that in 2018 came to 32.3%, increasing over the previous year. The amount of female personnel, which grew overall, is once again higher than the national sector average (24.7%, as compared to 15.9%). Alongside this figure, one must also consider that workers with disabilities account for 4.5% of the company's employees, significantly moving in the direction of inclusion for people with special needs. Other positive effects unquestionably come from Hera's corporate welfare plan, Hextra, which supports employees and their families in many ways (the overall value of services claimed in 2018 came to 4.2 million euro). Lastly, numerous significant projects give concrete reality to managing plurality, such as scholarships, agreements with summer schools, work-life balance initiatives and arrangements for paid family leave, not only for mothers and fathers but also those who must take care of relatives or the elderly. The Hera Group's commitment to policies promoting inclusion and diversity, in any case, has a long history. It first took concrete shape in 2009, when the Charter for equal opportunity and equality on the workplace was signed. The introduction in 2011 of a Diversity Manager, whose task involves giving even greater emphasis to developing policies aimed at inclusion and the valorisation of diversity, was also fundamental. With these initiatives, Hera actively contributes to the fifth of the United Nation's objectives for sustainable development (SDG), specifically dedicated to gender equality. Refinitiv_870 20190916_Hera_in_Diversity_Inclusion_Index.1568616308.pdf 2019-09-06 Read more Refinitiv_2019_D_and_I_Top_100_Logo_870.1567771660.png In 2019 as well, the Hera Group reached outstanding results, further improving its raking compared to 2018, confirming itself as the world's leading multi-utility /group_eng/working-at-hera-group/why-work-at-hera/diversity-inclusion Visit the Diversity & Inclusion area on the website Refinitiv_110

Save the Children With HeraSolidale, the project with which we promote the support of voluntary associations active in the territories in which we operate, we concretely contribute to the activities that Save the Children carries out in the three nurseries set up in a refugee camp in Jordan. With 25,000 euros we obtained the distribution of healthy snacks for 200 children for a year. Now we want to achieve the second goal: with an additional 50,000 euros we always guarantee the support of two asylum teachers for a year and we give children 2,000 school kits and books. There is still time to support the project! 2019-08-19 CH18291_800x.1564755264.jpg Thanks to the donations of workers, company and customers, the non-profit organization managed to distribute healthy snacks for 200 children for a year. Save the Children

HA-PTA_110 Herambiente, a Hera Group company and Italian leader in waste treatment, has acquired Pistoia Ambiente, which manages the Serravalle Pistoiese landfill and the associated liquid waste treatment plant. This transaction, which follows up on others brought to a conclusion in previous years (from Waste Recycling and Teseco in Tuscany, to Geo Nova and Aliplast in Treviso), is part of Herambiente's path of growth in the sector of industrial waste treatment and environmental services for businesses. More specifically, Herambiente has further consolidated its own set of plants dedicated to companies, which is unique nationwide, having over 15 poly-functional sites active in treating industrial waste. The Serravalle landfill and the liquid treatment plant will mainly treat waste coming from industrial contexts, guaranteeing new opportunities for marketing and technical synergies with other the plants and services managed by the Group, furthermore allowing Herambiente to become the reference operator in the waste sector in Tuscany as well. The strategic priority pursued by Herambiente, which can rely on the roughly ninety plants it owns, all certified and at the forefront in bringing together efficiency, competitiveness in costs and sustainability, is to provide companies with waste treatment solutions that follow the principles of a circular economy. The technology currently used in rounding off the circle of waste treatment still requires final waste disposal sites such as landfills, able to safely deal with non-recoverable waste coming from treatment plants. The acquisition of Pistoia Ambiente is therefore in line with this strategic orientation and will guarantee positive results in this area. HA-PTA_870 20190730_100_of_Pistoia_Ambiente_goes_to_Herambiente.1564502990.pdf 2019-07-30 HA_PTA_870.1564502906.png The Hera Group extends the scope of its activities in Tuscany and consolidates its leadership in environmental services for businesses by acquiring the Serravalle Pistoiese landfill and the associated liquid waste treatment plant Read more HA-PTA_110

GH-Ascopiave_110 Today, the Boards of Directors of Hera S.p.A. and Ascopiave S.p.A., the latter based on the favourable opinion of its committee of independent administrators, following the binding agreement signed this last June 17th and in full compliance with the timescales indicated therein, resolved to sign the framework agreement that will launch this commercial partnership through the joint venture EstEnergy aimed at developing an energy sector leader in the North-East with over one million customers, while at the same time restructuring the two partners' respective gas distribution activities. As already announced on June 17th, on the occasion of the signing of the binding term sheet, the operation involves exchanging assets of equal value between Hera and Ascopiave, considered strategic for the development of the two companies in the fields of both energy sales and gas distribution, in keeping with the strategic objectives of the two groups. On the commercial energy front, a single operator will be created to handle the respective commercial activities in the regions of Veneto, Friuli Venezia Giulia and Lombardy, through EstEnergy S.p.a., already jointly controlled by Ascopiave S.p.a. and Hera Comm S.r.l., which will thus hold approximately 795,000 gas contracts and approximately 265,000 electrical contracts, bringing it over the threshold of one million contracts. EstEnergy, when fully operational, will have a consolidated EBITDA of approximately € 69 million - on a 2018 basis and excluding the participation of companies held with minority interests. 52% of EstEnergy's share capital will be held by the Hera Group and 48% by Ascopiave. In addition, on the closing date Ascopiave will acquire a 3% stake in the capital of Hera Comm, acquiring the right to appoint a member of the Board of Directors; while Hera Comm will directly acquire 100% of the capital of Amgas Blu, a company operating in the province of Foggia. The reorganisation of gas distribution activities, on the other hand, will involve Ascopiave purchasing from the Hera Group a series of concessions covering 188,000 users in Veneto and Friuli Venezia Giulia. As a result of this operation, the Ascopiave Group will directly manage approximately 775,000 users and over 12,000 km of network. GH-Ascopiave_870 20190730_comunicato_GruppoHera_Ascopiave_ENG.1564515789.pdf 2019-07-30 GH_ASCOPIAVE_870.1560775014.1564513165.jpg GH_ASCOPIAVE_110.1560775016.1564513167.jpg

1H_2019_110 Financial highlights Revenues at 3,371.6 million euro (+13.6%) Ebitda at 545.9 million (+4.3%) Net profit at 173.9 million euro (+7.1%) Net debt at 2,685.2 million euro Operating highlights Excellent contribution from all business areas Growth mainly internal, generally in free market activities Further increase in energy customers, now above 2.6 million Today, the Hera Group’s Board of Directors, chaired by Tomaso Tommasi di Vignano, unanimously approved the consolidated economic results at 30 June 2019, which confirm the multi-utility’s positive trend, with indicators rising in all business areas: gas, water cycle, waste management and electricity. An excellent contribution came from internal growth, both in free market activities – which benefitted from an increase in energy customers, now 2.6 million, and from further expansion in waste treatment – and in regulated activities, above all the water sector. The first six months saw acquisitions including the company ATR in gas distribution and CMV Energia e Impianti’s energy sales activities, both operating in the Ferrara area and both acquired in March, as well as Cosea Ambiente, acquired in May with the concession of the Cosea Consorzio landfill, located in the Tuscan-Emilian Apennine area, assigned as of the second half of 2019. The effects of additional M&A transactions are expected to arrive in the second half of the year, along with constantly increasing waste treatment capacity, thanks to the new waste treatment plants coming from Pistoia Ambiente in Tuscany and Cordenons in Friuli-Venezia Giulia. Furthermore, work on formalising the definitive agreement with Ascopiave is ongoing, as set out in the binding Term Sheet signed on 17 June and respecting its timeline. Overall, the half-year results confirm the Group’s winning strategy, based on a business model that balances regulated and free-market activities, and brings internal growth together with attention towards the opportunities in external growth offered by the market. Revenues increase to almost 3.4 billion euro In the first half of 2019, revenues came to 3,371.6 million euro, up 404.9 million (+13.6%) over the 2,966.7 million seen in the same period of 2018. This result was reached above all thanks to growth in revenues for trading and higher revenues and higher volumes in gas and electricity sales. The remaining growth was due to higher revenues in electricity generation and waste treatment. Ebitda rises to 545.9 million euro Ebitda settled at 545.9 million euro, increasing by 22.3 million (+4.3%) over the 523.6 million recorded at 30 June 2018. This result is particularly remarkable considering the 22 million euro drop in Ebitda coming from last resort markets, and the growth ensued from the good performances in all Group activities, in particular the water cycle and gas. Positive results also came from the electricity, waste management and other services areas, including public lighting. Operating result and pre-tax profits show growth Operating profits increased to 288.9 million euro, up 15.3 million (+5.6%) over the 273.6 million seen one year earlier. Financial operations came to 44.9 million euro, owing to lower non-recurring income and lower profits from affiliated companies and joint ventures, as well as the application of international accounting standard IFRS16 on operating leases. Pre-tax profit grew by 9.6 million (+4.1%), going from 234.4 million euro in the first half of 2018 to 244.0 million euro at 30 June 2019. Net result rises to 173.9 million euro (+7.1%) The net profit at 30 June 2019 rose to 173.9 million, with growth coming to 11.5 million (+7.1%) over the 162.4 million recorded at the same date one year earlier, without the non-recurring effects coming from the transfer of Medea to Italgas in April 2018. This result is due to factors including a further improvement in the tax rate, which went from 30.1% to 28.7%, thanks to the Group’s continuous commitment towards investing in assets moving towards technological and digital transformation and utility 4.0, which benefitted from “super and iper” amortisations, alongside additional incentives and tax credits. Profits pertaining to Group shareholders amounted to 166.2 million euro, with an 8.1 million (+5.1%) increase over the 158.1 million recorded in the first half of 2018. Almost 215 million in investments, and financial position stable In the first six months of 2019, the Group’s operating investments, including capital grants, amounted to 214.6 million euro, up 30.8 million (+16.8%) over the 183.8 million seen in June 2018, and mainly went to interventions on plants, networks and infrastructures, in addition to regulatory upgrading above all in gas distribution, with an intensive meter substitution, and the purification and sewerage areas. The Group’s financial solidity is confirmed by the net debt/Ebitda ratio, which in the first half of 2019 settled at 2.55x, improving compared to both the 2.62x seen at 30 June 2018 and the 2.74x recorded at the same date in 2017. Further confirmation comes from the Roe and Roi indicators, which respectively came to 10.2% and 9.5%. Net debt remained stable, thanks to a cash generation that entirely financed investments and the yearly dividend payment. Net debt closed at 2,685.2 million at 30 June 2019, up 100 million compared to the 2,585.6 million recorded at 31 December 2018, exclusively due to the new accounting standard IFRS16 on leasing contracts. Statement by Executive ChairmanTomaso Tommasi di Vignano “These half-year results confirm the Hera Group’s trend of uninterrupted growth and fully respect its track record, thanks to organic growth and the numerous projects implemented in internal and external development. The increase in Ebitda, the profits gained and the attentive management of financial operations allowed the Group to fully cover both investments and annual dividend payments to our Shareholders, which rose to 10 cents per share (+5.3%). The further increase in waste treatment plants managed and the joint venture with Ascopiave in the energy sector, currently being formalised, will allow us to implement plans for growth as early as the second half of 2019 on the one hand, and on the other to expand in the Triveneto area, strategically important for a further development of the Group’s activities, already ensuring at present, after only 18 months, 60% of the growth in Ebitda foreseen within 2022 by the Business plan.” Statement by CEO Stefano Venier “The results for the first half of 2019 confirm the solid financial management that has allowed the Group to maintain stability in both debt and the net debt/Ebitda ratio, which now comes to 2.55x, providing evidence of its high financial flexibility. The debt profile has also improved, thanks to the placement, on 26 June, of our second green bond, amounting to 500 million euro, intended for projects in environmental sustainability. This has allowed us to grasp available M&A opportunities and confirm our leadership through further consolidation in the markets, still fragmentary, in which all of our businesses operate. One factor that cannot be overlooked, in continuing to pursue our strategy of growth, is the attention given to sustainability, which for us is a true business lever, and the principles underlying a circular economy, in order to continue creating shared value for all our stakeholders.” 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 half-year financial report and related materials will be made available to the public pursuant to the terms established by law at Company Headquarters, on the website www.gruppohera.it and on the authorised storage platform 1Info (www.1info.it ). Unaudited extracts from the Abbreviated Consolidated Half-Year Financial Statements at 30 June 2019 are attached. Profit & Loss (m€) 30/06/2019 Inc.% 30/06/2018 Inc.% Ch. Ch. % Sales 3.371,60 2.966,70 404,9 13,60% Other operating revenues 249 7,40% 209,8 7,10% 39,2 18,70% Raw material -1.699,20 -50,40% -1.327,60 -44,70% 371,6 28,00% Services costs -1.075,10 -31,90% -1.031,60 -34,80% 43,5 4,20% Other operating expenses -29,8 -0,90% -30,3 -1,00% -0,5 -1,70% Personnel costs -286,6 -8,50% -281,7 -9,50% 4,9 1,70% Capitalisations 16 0,50% 18,3 0,60% -2,3 -12,60% Ebitda 545,9 16,20% 523,6 17,60% 22,3 4,30% Depreciation and provisions -257 -7,60% -250 -8,40% 7 2,80% Ebit 288,9 8,60% 273,6 9,20% 15,3 5,60% Financial inc./(exp.) -44,9 -1,30% -39,2 -1,30% 5,7 14,50% Pre tax profit 244 7,20% 234,4 7,90% 9,6 4,10% Tax -70,1 -2,10% -72 -2,40% -1,9 -2,60% Net profit 173,9 5,20% 162,4 5,50% 11,5 7,10% Special items - 0,00% 4,8 0,20% -4,8 -100,00% Net profit 173,9 5,20% 167,2 5,60% 6,7 4,00% Attributable to: Shareholders of the Parent Company 166,2 4,90% 158,1 5,30% 8,1 5,10% Minority shareholders 7,7 0,20% 9,1 0,30% -1,4 -15,40% Balance Sheet (m€) 30/06/2019 Inc.% 31/12/2018 Inc.% Ch. Ch. % Net fixed assets 6.064,10 109,80% 5.905,10 108,70% 159 2,70% Working capital 59,8 1,10% 115,4 2,10% -55,6 -48,20% (Provisions) -599,9 -10,90% -588,2 -10,80% -11,7 2,00% Net invested capital 5.524,00 100,00% 5.432,30 100,00% 91,7 1,70% Net equity 2.838,80 51,40% 2.846,70 52,40% -7,9 -0,30% Long term net financial debt 2.754,30 49,90% 2.558,80 47,10% 195,5 7,60% Short term net financial debt -69,1 -1,30% 26,8 0,50% -95,9 -357,80% Net financial debts 2.685,20 48,60% 2.585,60 47,60% 99,6 3,90% Net invested capital 5.524,00 100,00% 5.432,3 100,00% 91,7 1,70% H1 2019 2019-07-30 Read more be_870x320_slide_eng.1564478551.png A highly positive half-year, thanks to the organic growth achieved in all business areas. At the same time, intense activity in external development and an increase in the Group's set of plants will support further expansion as early as the second half-year, leading the targets included in the Business plan to be reached ahead of time /-/hera-bod-approves-results-for-1h-2019-1 Press release 1H_2019_110

Piazzale_Kennedy_110 Piazzale Kennedy is now open to the public, the heart of the Piano di Salvaguardia della Balneazione (PSBO), created by Hera and the Municipality of Rimini together with Romagna Acque and Amir, one of the main hydraulic works of recent years in Italy, thanks to total investments for over 150 million euros, and reported by the UN for its importance in safeguarding marine environments. After months of incessant work on the building site, under the Construction Management of the Hera Group, the area was in fact returned to the city and the first of the two viewpoints was completed. The high lookout (the so-called "torrino") is still not accessible, although partially completed, which will remain fenced for safety reasons until the end of the summer period, also thanks to panels that show the citizens the most important phases of the intervention. Let us remember that Piazzale Kennedy is a project of great importance, not only from a plant engineering point of view, which the city of Rimini has undertaken. It is in fact the result of an important work of coherence between hydraulic works and urban planning and redevelopment guidelines. A synthesis of planning and architectural and landscape integration of the plant system in the city system. Piazzale Kennedy is one of the most important construction sites of the PSBO both in terms of impact and complexity: started in 2016, the shipyard sees today completed about 90% of the works. At the end of the summer season the works will resume in the remaining part of the area to reach the final phase of the redevelopment, the most visible and spectacular, with the opening of the lookout above the new hydraulic garrison. The underground part The new hydraulic facility provides an important accumulation infrastructure characterized by a total volume of almost 40,000 cubic meters, consisting of a first tank of 14,000 cubic meters of volume, which collects the first rainwater, and a second tank of 25,000 cubic meters with lamination and accumulation function. The first tank came into operation in mid-June, for the benefit of bathing in the Marina Centro area of Rimini. At the end of September, after the summer break, instead the works of the second larger tank will resume, which aims to limit, through a process of rolling the flood, the mixed flows that will eventually be conveyed to the sea. This tank is preparatory to the subsequent outflow lifting, with a pumping capacity of 18,000 liters per second, or to return to treatment at the Santa Giustina purifier. The large pool will come into operation once the sea pipelines have been completed, whose forecast for completion is scheduled for next autumn. In addition to the creation of new storage volumes and related lifting systems, particular attention was paid to the containment of odors. The project, in fact, provides a system based on forced ventilation that will convey the air drawn in from the tanks (both the first rain and the rolling one) to a treatment system that uses a specific activated carbon technology. Furthermore, the importance of the project must also be highlighted from the point of view of hydraulic protection: thanks to the work put in place it will in fact be possible to prevent flooding phenomena such as those already caused in the past by exceptional weather events. Finally, thanks to appropriate screening and storage treatments of the materials deriving from the excavations fielded by Hera, it was possible to recover over 20 thousand cubic meters of excellent quality sand, already used for the nourishment of the Rimini coasts. The operation is fully part of the initiatives aimed at protecting our beaches, because it helps to combat soil erosion, and as a good practice in a circular economy perspective. 20190713_PSBO_open_to_the_public_Piazzale_Kennedy.1564144575.pdf 2019-07-26 piazzale_kennedy_800_1.1563181364.jpg The viewpoint above the construction site, the heart of the Bathing Safeguard Plan, is now fully accessible Read more Piazzale_Kennedy_110

Pozzi_110 In Ethiopia, access to drinking water sources is extremely problematic. It is estimated that, on average, only 27% of the population has access to clean water. From all this derive diseases related to intestinal infections that tend to affect the weakest categories such as children, the elderly and women. This project is part of ongoing programs aimed at improving access to water supply for rural populations in the eastern area of the Tigray and Afar, regions in the extreme north of Ethiopia that live in a serious state of economic and social crisis. Here agriculture plays a predominant role employing 90% of the population. During 2018, for the Hera Solidarity project, thanks to the involvement and collaboration of workers, company and customers, we raised 145 thousand euros, of which 15 thousand for Butterfly Onlus. With this important amount, 3 wells were rehabilitated and then inaugurated. But let's not stop there: the goal for the year 2019 is to collect a useful amount to inaugurate another 4 wells, of which another 4,300 people will benefit. 2019-07-29 butterfly_foto1_800.1562838805.jpg Thanks to the donations of workers, company and customers, Butterfly Onlus has inaugurated three wells in Ethiopia that allow over 3 thousand people to drink clean water Pozzi_110

10anni_HA_110 It was July 1st 2009, when Herambiente was born, which takes the expertise and the rich endowment of Hera Group plants into a new reality that is better able to capture the prospects for development in the sector, characterized by a high fragmentation of operators and by a plant infrastructure insufficient to meet the needs of the country. The roots of the company therefore lie in almost 100 years of history, or in the DNA of those municipalities in Emilia Romagna to which the Municipalities entrusted, in the first half of the 1900s, the management of waste and then, over the years, the construction of the plants of urban waste disposal. Exact ten years of constant growth starting from Emilia-Romagna 2013: four years after its birth, Herambiente starts its expansion in the territories of Padua and Trieste with the acquisition of AcegasAps by the Hera Group, thus acquiring the Padua and Trieste waste-to-energy plants and the Padua storage plant. 2014: territorial expansion continues in northern Italy with the acquisition of the Ecoenergy Srl plant in Castiglione delle Stiviere (MN). Here non-hazardous special waste is transformed into CSS, a secondary solid fuel that feeds thermoelectric, cement and waste-to-energy plants, avoiding the use of fossil fuels. This confirms the company's position as a leader in the recovery of materials and energy from waste, completing the value chain downstream of the usual treatment process. 2016: Herambiente completes the acquisition of some environmental business branches of Geo Nova, which has twenty years of experience in the treatment, recovery, disposal of urban and industrial waste, in particular by detecting the storage plant for hazardous and non-hazardous waste at San Vito al Tagliamento (PN) and the active landfills for non-hazardous waste of Loria (TV) and Sommacampagna (VR). Thanks to this operation, the Group further expands its corporate perimeter in the North East following the logic of developing and strengthening sales in areas where it was already active and thus extending its plant park with a more complete offer for Veneto customers and of Friuli Venezia Giulia. 2017: the acquisition process of Aliplast begins, a leading national company in the collection and recycling of industrial plastic waste and in the recycling and production of regenerated polymers, a decision that testifies to Herambiente's desire to combine its business with the values of the circular economy, with a view to environmental sustainability. With this operation, the corporate scope also extends abroad because Aliplast has offices in Italy, Spain, France and Poland; Waste Recycling acquires Teseco, a leading company in the treatment and recovery of industrial waste, with more than 30 years of experience in the sector of special waste and innovative plants. 1 July 2019: in conjunction with the tenth anniversary, Waste Recycling is incorporated by merger and Herambiente becomes the international leader in the industrial waste sector, with 1 million tons managed per year, able to offer an increasingly complete and personalized service based on the needs of individual customers, be they small or medium and large companies. Circular economy and sustainability at the center of the choices As a company specializing in the treatment of urban waste, Herambiente in these 10 years has therefore gradually integrated industrial waste into its business, creating, in 2014, a dedicated company, Herambiente Servizi Industriali. With the subsequent acquisition of Aliplast it then moved towards the production of regenerated plastic. Along this path, by providing innovative services and technologies, the Group was able to make waste a resource, creating a circular economy for the benefit of the communities but also of national and foreign companies of which it is a partner. Together with customers, in fact, high-value services are developed to improve and streamline business processes and impacts, always combining attention to economic resources and sustainability. The increase in the customer portfolio from 370 in 2009 to 3,000 in 2019 is the acknowledgment to Herambiente of being a serious and reliable partner. A result achieved also thanks to the strong investment in the professional development of its resources, which went from 738 to 1,415 in 10 years, through a constant search for innovation and enriching the technical skills of employees. A gift to Ageop for Herambiente's birthday For ten years at the service of companies and territory, Herambiente has decided to celebrate this birthday by donating to the Associazione Genitori Ematologia Oncologia Pediatrica - AGEOP of Bologna a van equipped for the transport of children and their families from the AGEOP Houses to the hospital Sant ' Orsola Malpighi of Bologna. The association has been welcoming and assisting cancer children and their families for thirty-five years to improve their living conditions. The AGEOP facilities, where small patients and parents are welcomed for free all the time of the therapies, make it possible to realize the synergy with the Pediatric Oncology Department of the Policlinico Sant’Orsola Malpighi allowing to resort to the so-called "protected resignations". This means that children can be discharged as soon as possible, continuing therapies "at home" and therefore with a significant improvement in their quality of life. When the children are not from Bologna, the AGEOP structures become "their home" and the high standards of hygiene and health with which they are conceived make them a safe and welcoming haven in which to face the therapeutic period without ever being left alone in front of the illness . consegna_chiavi_veicolo 20190702_Herambiente_sets_solidarity_in_motion.1564143740.pdf 2019-07-26 The Hera Group company celebrates its birthday by donating a van equipped for transporting children and their families to the Sant'Orsola Malpighi hospital at the AGEOP of Bologna sinistra Read more 10anni_HA_110

Hasi-WR_110 As of 1 July, Waste Recycling, a subsidiary of Herambiente, is founded through a merger with Herambiente Servizi Industriali (Hasi), which then becomes the largest Italian company dedicated to the management of industrial waste, with registered office in Bologna and three commercial locations in Ravenna, Padua and Pisa. Hasi targets one million tonnes treated per year The objective of the merger is to simplify and further rationalise the overall structure of the company and make corporate coordination activities easier in order to achieve economies of scale with a general improvement in operating efficiency. The entry to Hasi of the three Tuscan multifunctional sites of Waste Recycling (two in Castelfranco di Sotto and one in Pisa, the former Teseco) will also enable an increase in the range of customers, allowing Hasi to transfer more types of waste to the same platform. In Italy, waste from production activities accounts for 80% of all waste produced. With respect to urban waste, industrial waste requires highly professional management systems and cutting edge treatment plants. Thanks to this merger, the volumes treated by Hasi have doubled, up from 550,000 to one million tonnes per year, mainly coming from the chemical-pharmaceutical, petrochemical, iron and steel sectors, and also the manufacturing and food sectors. The same goes for customers, which rose from 1,500 to 3,000, small and medium enterprises and also 250 large customers. The number of employees in the new company Hasi rose from around 40 initially to 200, while turnover reached Euro 140 million per year, compared to Euro 50 million previously. Serving companies Hasi was created in 2014 from an offshoot of Herambiente, the Hera Group company which is a national leader in waste management, with more than 6 million tonnes per year (including urban and special, hazardous and non-hazardous, originating from urban collection and industrial and productive activities). Thanks to the availability of roughly 90 certified Herambiente plants and a network of qualified suppliers throughout the country, Hasi is the Group company that offers services to companies that range from micro collection for small commercial activities to treatment and disposal of all types of waste for SMEs and large industrial groups. With a view to reducing costs and enhancing the circular economy performance of business customers, Hasi's offer has evolved over time, augmenting waste treatment and transport with a comprehensive series of related higher value services: the so-called Global Waste Management, customised solutions to support customers at each phase of management of their waste,always with a focus on recycling and recovery, as also indicated in the EU directives. The companies supported by Hasi with Global Waste Management services actually reach recovery shares of roughly 80%, thanks to efficiency plans proposed to reduce waste produced and an improvement in plant performances. In addition, the synergy with other Hera Group companies allows business customers to access additional services based on the circular economy, such as energy and water efficiency plans, that sit alongside those implemented by Hera regarding waste treatment. Hasi-WR_870 20190628_Nasce_la_pi_grande_realt_italiana_dedicata_alla_gestione_di_rifiuti_industriali_DEF.1563435725.pdf 2019-07-18 hasi_wr_870.1561725495.1563435724.jpg As of 1 July 2019, the Tuscan company Waste Recycling, with its three multifunctional areas in the province of Pisa, joins Herambiente Servizi Industriali (Hasi). Hence, the range of solutions for industrial waste treatment will be expanded. A million tonnes of waste that will be treated annually Read more Hasi-WR_110

sede_berti_110 The Hera Group aims to continue in its role as a reference point for sustainable finance in Italy and, five years after issuing the country's first "green" bond, it is now launching its second. The bond is being announced at the end of a road show in Europe's main financial centres, aimed at illustrating the structure of the transaction to investors and analysts, in addition to the way in which the resources will be allocated, i.e. by investing in environmental sustainability projects in the waste, water and energy sectors. Considering that it also launched Italy's first ESG-linked revolving line of credit last year, Hera is carrying on with its activity in identifying and implementing innovative instruments. The latter are indeed able to valorise the company's commitment and the results it has reached hereto in this area, along with its future investment policies, thus meeting the market's growing attention towards this sort of endeavour. The characteristics of the new green bond and the projects financed The second green bond issued by the Hera Group (Moody's rating Baa2 with stable outlook and Standard & Poor's rating BBB with positive outlook) amounts to 500 million euro overall, repayable over 8 years with a 0.875% coupon and a 1.084% return. The date of payment for the newly issued bond has been set at 5 July 2019. Furthermore, the new green bond is expected to have the same rating as the Hera Group. A strong demand, coming to seven times the amount offered, and the quality of the orders received have allowed the price to be fixed at an excellent level. The transaction has seen significant participation from international investors (France, Germany, United Kingdom and Holland), most of whom follow green and sustainable criteria. The bond is expected to be listed on the Irish Stock Exchange and the Luxembourg Stock Exchange's regulated markets, and on Borsa Italiana's ExtraMOT PRO. The funds will be used to finance or refinance numerous projects, already implemented or included in the Business plan to 2022, that pursue one or more of the goals in the UN's 2030 Agenda. These projects have been subdivided into 3 areas: energy efficiency (in line with SDGs 7 and 13): from installing smart metres to developing district heating networks and projects in the area of public lighting; circular economy and sustainable waste management (responding to SDG 12): innovative projects in the waste collection systems, further use of unit pricing, creating plants and structures for recycling, recovering and reusing materials, plants for biological/chemical waste treatment and plants for transforming waste into energy, similar to the Sant'Agata Bolognese (BO) biomethane production plant; water infrastructures (meeting SDGs 6 and 14): waste water management projects, sewerage and water infrastructures furthering resilience and adaptation to climate change. In order to guarantee that the funds are correctly and transparently allocated, Hera has introduced a monitoring and reporting process. The amount actually dedicated to each intervention will be published in the Group's Sustainability Report, along with data concerning the environmental performances reached. "Green Financing Framework": Hera transparent in sustainability as well The Hera Group, furthermore, is among the first companies in Europe to have provided itself with a "Green Financing Framework" (GFF). The GFF is a particularly innovative programming document, in line with "Green Bond Principles", that covers not only aspects linked to issuing the green bond, but also sustainable loans and other ESG instruments on the market. The GFF is accompanied by a "Second Party Opinion", drafted by ISS-oekom, which ranked Hera "Prime" in terms of ESG performance (sixth in a panel of 43 worldwide companies), in particular giving an excellent opinion of Hera's contribution to the water sector. sede_berti_870 20190626_Cs_Nuovo_green_bond_Hera_final_ENG.1561565634.pdf 2019-06-26 Read more bologna_berti_pichat_870_320.1561565805.jpg Strong interest shown by international investors for the multi-utility's second "green" bond, which will finance environmental sustainability projects in 3 areas: energy efficiency, circular economy and sustainable water resource management /group_eng/investor-relations/strategy/strategy-and-business-plan /group_eng/investors /group_eng/investor-relations/debit-and-rates/green-financing-framework-e-opinion Hera Group Business Plan Investor Relations Green Financing Framework e Second Party Opinion sede_berti_110

Hera-Ascopiave_110 Today, the Boards of Directors of Hera S.p.a. and Ascopiave S.p.a. approved the signing of a binding Term Sheet intended to develop a major entity in areas of North-East Italy, which will be able to rely on over one million energy customers, while at the same time redefining their respective activities in gas distribution. The Term Sheet, which will be finalised by a framework agreement within 31 July 2019, defines the geographical areas involved, the economic terms of the agreement and related elements of governance. The agreement reached represents an important strategic transition in the evolution of the two Groups' activity portfolios and fully respects the strategic lines of development approved by the Boards of Directors of Hera S.p.a. and Ascopiave S.p.a., as communicated to investors. More specifically, as regards the gas and electricity marketing area, the agreement calls for a single operator to be created, bringing together the respective sales operations in the Veneto, Friuli Venezia Giulia and Lombardy regions, acting through EstEnergy S.p.a., a company currently jointly controlled by Ascopiave S.p.a. and Hera Comm S.r.l., the Hera Group's sales company. EstEnergy S.p.a.'s activities in the geographical areas indicated will be considerably increased, coming to include the Ascopiave Group's sales activities carried out by the subsidiaries Ascotrade S.p.a., Ascopiave Energie S.p.a. and Blue Meta S.p.a. as well as the joint ventures Asm Set S.r.l. (49%) and Etra Energia S.r.l. (51%), in addition to the liquidating Sinergie Italiane S.r.l. (30.94%) and the company Energia Base Trieste S.r.l. (92,000 contracts managed) and Hera Comm's Veneto and Friuli customers (96,000 gas contracts and 68,000 electricity contracts). A major operator rooted in the North-East will thus emerge with a portfolio totalling over 795,000 gas contracts and 265,000 electricity contracts, based on 31 December 2018 data, which considering the joint venture pro rata component amounts to over 1 million contracts. This new entity, which will take shape through EstEnergy, when fully operational, will have a consolidated Ebitda coming to roughly 69 m€, based on 2018 data, not including the contribution coming from owned companies with minority shareholdings. 52% of EstEnergy's share capital will be held by the Hera Group, and 48% by Ascopiave. The parties involved have disclosed that the overall equity value of the new EstEnergy amounts to 864.5 m€ (with a corresponding enterprise value of 797 m€), based on 31 December 2018 data, and may be subject to standard adjustments following the closing date; of this amount, 601 m€ (543 m€ enterprise value) pertains to sales activities originating from Ascopiave and 263 m€ to activities originating from HeraComm. As regards the Hera Group, through these agreements with Ascopiave it will reach its target of 3 million energy customers (3.2, according to 31 December 2018 data) set in its business plan to 2022. This represents a further step along the path of growth in this area, that has seen the Group double its energy customer base over the last 10 years, by way of internal growth and M&As. Hera-Ascopiave_870 20190617_press_release_GruppoHera_Ascopiave.1560792483.pdf 2019-06-17 GH_ASCOPIAVE_870.1560783726.jpg The business partnership, through the joint venture EstEnergy, involves over 1 million customers, with the new entity's overall value coming to 864.5 million euro and its Ebitda amounting to 69 million euro. With this transaction, the Hera Group reaches over 3 million energy customers Read more Hera-Ascopiave_110