News

Results as at 30 september 2020 Financial highlights Revenues at 4,905.9 million euro (-3.1%) Ebitda at 806.2 million (+2.6%) Net profit at 244.7 million (+1.1%) Net debt stable at 3,284.5 million Operating highlights Resilience guaranteed by a mix of internal and external growth Good contributions come mainly from the gas and electricity areas A solid base, with over 3.3 million customers in energy sectors, showing strong growth thanks to the Ascopiave partnership Today, the Hera Group's Board of Directors, chaired by Tomaso Tommasi di Vignano, unanimously approved the consolidated third-quarter report at 30 September 2020. This report shows improvement in the Group's main economic indicators compared to the same period in the previous year, confirming its positive trends and solid fundamentals, and allowing it to overcome the inevitable impact of the health emergency affecting our country. More specifically, the most significant results for the first three quarters of 2020 - in line with the growth expected by the Business plan to 2023 - include a rise in Ebitda coming to over 20 million euro and a better Net debt/Ebitda ratio, as well as ongoing creation of value for stakeholders, beginning with shareholders who were paid, as foreseen, dividends coming to over 150 million euro. As usual, M&A transactions, along with internal growth sustained by higher efficiency and investments, were the driving force behind the Group's results. The most important factor was the recent partnership with Ascopiave, consolidated at the beginning of the year. Through EstEnergy, this partnership gave way to the largest energy operator in North-Eastern Italy and led to over 3.3 million customers overall in the energy sectors. These results furthermore point towards a high ESG profile, with strong attention going to the environment, social and governance, which is expected to remain stable over the next three years after top management was confirmed by the Shareholders Meeting held on 29 April. This attention appeared all the more clearly during the emergency that struck our country: in recent months, indeed, Hera has always guaranteed full service continuity and introduced many forms of protection for employees, suppliers and customers, including easier terms for paying bills. Sustainability, in any case, has been an integral part of the Group's strategy since its establishment, and contributes - alongside all operating-financial indicators - to its growth, creating value for local communities and all areas served. At the same time, the Group's solidity and its valid multi-business strategy, based on a range of diversified levers, balanced between internal and external growth, have enabled it to guarantee a high degree of resilience, even in difficult contexts such as the current one. The effects on the Coronavirus pandemic on the Group's businesses, its financial situation and its operating performance have thus been contained, as already appeared in the first-quarter report at 31 March 2020 and the half-year report at 30 June 2020. Revenues at 4,905.9 million euro In the first three quarters of 2020, revenues came to 4,905.9 million euro. This result was mainly due to lower revenues from electricity and gas trading, generation and sales, the lower price of commodities, lower volumes sold and the heat management and district heating services. Various factors helped mitigate this impact, including changes in the scope of operations and an increase in regulated energy revenues. Ebitda increases to 806.2 million euro Ebitda went from 785.8 million euro in the first nine months of 2019 to 806.2 million euro at 30 September 2020, up 2.6%, despite the negative impact of milder winter temperatures and the Coronavirus emergency. This growth - seen over the entire duration of the first nine months of 2020 - was achieved above all thanks to the performance of the energy areas (gas and electricity), owing to the Ascopiave partnership. Positive results were also recorded in the water cycle area, which saw efficiency-enhancing initiatives aimed at resilience and sustainability, and in other services, including public lighting and telecommunications. Operating results rise to 414.7 million euro Operating results increased to 414.7 million euro, up 2.3% compared to the 405.5 million seen at 30 September 2019. Financial operations settled at 79.5 million in the first nine months of 2020, with a 12.4 million change compared to the same period in the previous year due on the one hand to lower financial charges and on the other to higher non-monetary charges, prevalently linked to the Ascopiave transaction. Pre-tax profit remained essentially unchanged at 335.2 million euro. Net profits increase to 244.7 million (+1.1%) Net profits at 30 September 2020 rose to 244.7 million euro (+1.1%) compared to the 242.0 million recorded one year earlier, with profits pertaining to Group shareholders increasing to 233.1 million euro, compared to the 230.8 million seen at 30 September 2019 (+1.0%). These results benefitted from a tax rate coming to 27%, with further improvement compared to the 28.5% recorded during the previous year, thanks in particular to the Group's commitment to making significant investments in technological, digital and environmental transformation, along with the benefits introduced by the government's Relaunch Decree. Operating investments come to 333.6 million euro; net financial position stable During the first nine months of 2020, Hera made operating investments amounting to 333.6 million euro, basically in line with the previous year and respecting the green-oriented projects contained in the Business plan. Investments mainly went to plants, networks and infrastructures, as well as regulatory upgrading in the sewerage and purification areas and a large-scale installation of new-generation gas meters. In addition to financing these investments and paying dividends, the positive cash generation also sustained financial investments, mainly involving the strategic Ascopiave transaction, and purchasing treasury shares based on market opportunities. The Group's solid financial position is reflected by its net debt, which remained unchanged with respect to the 3,274.2 million seen at 31 December 2019, settling after the first nine months of 2020 at 3,284.5 million euro, including the amount of Ascopiave's put option concerning EstEnergy. The Net debt/Ebitda ratio came to 2.97x, improving compared to the 3.02x seen in late 2019. PROFIT & LOSS (M€) 30/09/2020 INC. % 30/09/2019 INC. % CH. CH. % Sales 4,905.9 5,063.2 (157.3) (3.1%) Other operating revenues 355.7 7.3% 366.7 7.2% (11.0) (3.0%) Raw material (2,314.9) (47.2%) (2,504.9) (49.5%) (190.0) (7.6%) Services costs (1,696.9) (34.6%) (1,698.4) (33.5%) (1.5) (0.1%) Other operating expenses (41.8) (0.9%) (45.6) (0.9%) (3.8) (8.3%) Personnel costs (424.0) (8.6%) (418.7) (8.3%) +5.3 +1.3% Capitalisations 22.2 0.5% 23.5 0.5% (1.3) (5.5%) Ebitda 806.2 16.4% 785.8 15.5% +20.4 +2.6% Depreciation and provisions (391.5) (8.0%) (380.3) (7.5%) +11.2 +2.9% Ebit 414.7 8.5% 405.5 8.0% +9.2 +2.3% Financial inc./(exp.) (79.5) (1.6%) (67.1) (1.3%) +12.4 +18.5% Pre tax profit 335.2 6.8% 338.4 6.7% (3.2) (0.9%) Tax (90.5) (1.8%) (96.4) (1.9%) (5.9) (6.1%) Net profit 244.7 5.0% 242.0 4.8% +2.7 +1.1% Attributable to: Shareholders of the Parent Company 233.1 4.8% 230.8 4.6% +2.3 +1.0% Minority shareholders 11.6 0.2% 11.2 0.2% +0.4 +3.6% BALANCE SHEET (M€) 30/09/2020 INC.% 31/12/2019 INC.% CH. CH. % Net fixed assets 6,927.1 109.1% 6,846.3 108.9% +80.8 +1.2% Working capital 67.4 1.1% 87.0 1.4% (19.6) (22.5%) (Provisions) (643.5) (10.1%) (649.1) (10.3%) +5.6 (0.9%) Net invested capital 6,351.0 100.0% 6,284.2 100.0% +66.8 +1.1% Net equity 3,066.5 48.3% 3,010.0 47.9% +56.5 +1.9% Long term net financial debt 3,376.3 53.2% 3,383.4 53.8% (7.1) (0.2%) Short term net financial debt (91.8) (1.5%) (109.2) (1.7%) 17.4 (15.9%) Net financial debts 3,284.5 51.7% 3,274.2 52.1% 10.3 +0.3% Net invested capital 6,351.0 100.0% 6,284.2 100.0% +66.8 +1.1% Results as at 30 september 2020 2013-09-25 For further information Results as at 30 september 2020 The Group closed the first nine months of the year with improvement in the main economic indicators compared to the same period in 2019, offsetting the impact of the Coronavirus emergency. These positive results, in line with the growth foreseen by the Business plan to 2023, were reached through the enlarged scope of operations and the investments made in resilience and sustainability /-/hera-bod-approves-3q-2020-results Press release centrata Results as at 30 september 2020

Accordo Maire Tecnimont S.P.A.e Hera Group Maire Tecnimont S.P.A.andHera Groupannounce today the signing of a strategic agreement between Aliplast, Hera Group’s subsidiary for the collection, recycling and conversion of plastics, and NextChem, Maire Tecnimont Group’s company for the development of projects and technologies for the energy transition. NextChem will provide technology and engineering, procurement and construction services to build a plant which will use proprietary innovative technology MyReplastTMfor upcycling of plastic waste into high value-added polymers. These partners are each leader in their respective sectors. Hera Group’s Herambiente unit – Italy’s pioneer in the treatment of all types of waste – has 90 plants with an important know-how in the management of the entire environmental chain, in which Aliplast contributes with a circular and integrated stronghold in plastic sector. Maire Tecnimont Group is a global leader in process engineering and strongly committed – through its subsidiary NextChem – to developing projects and technologies for the energy transition and circular economy. Maire Tecnimont adopts an innovative industrial approach focused on engineering of transformation processes able to produce polymeric high value-added materials which can replace virgin materials derived from fossil sources. The synergy between skills and resources of these two big players will result in the only plant of its kind in Europe. One of Hera Group’s sites will use the innovative MyReplastTM technology licensed by NextChem and will produce recycled polymers of high quality and purity, with high-level chemical-physical and mechanical performance. The aim of the plant is to treat post-consumer plastic waste to obtain customized recycled products capable of meeting customer requirements and quality market standards, with features and properties on par with virgin polymers from fossil sources. This is a cutting-edge plant engineering experience. Once fully operational, the plant – powered by green sources thanks to Herambiente – will be able to produce up to 30,000 tons of polymers per year. The plant will ensure high security standards and be equipped with innovative features such as processes automation and high digitalization for data analytics, thereby allowing it to maximize energy efficiency, delivering further environmental benefits. Accordo Maire Tecnimont S.P.A.e Hera Group 2013-09-25 For further information Accordo Maire Tecnimont S.P.A.e Hera Group Hera Group’s and Maire Tecnimont Group’s subsidiaries sign strategic agreement to build plant with NextChem’s proprietary MyReplast technology /documents/1514726/4226940/Press+release+NextChem+Aliplast.pdf/2fe1d043-6767-3355-3ec7-75fea6ac6599?t=1603979768825 Press release centrata Accordo Maire Tecnimont S.P.A.e Hera Group

Sede Hera It has recently come to the Hera Group’s attention that individuals misrepresenting themselves as Hera Group’s recruiters and managers have contacted people in order to conduct interviews and offer them fraudulent job opportunities within the Hera Group. According to what the victims reported, applicants are invited to conduct an interview using an instant messaging application (e.g. Telegram). After being interviewed, victims are offered jobs, usually in a work-at-home mode, may be required to provide personal or financial data and, in certain cases, to pay upfront for related costs such as job training. Also, false recruiters are using fake email addresses that are not associated with the Hera Group but can look similar (such as “@gruppoherausa.com”). Please be advised that the said interviews/job offers are completely false and are not connected with the Hera Group in any way. The Hera Group DO NOT select personnel through text messaging or e-mail communication alone and NEVER, under any circumstances, request payments of any kind in order for applicants to secure a job. The existing legitimate job opportunities within the Hera Group are available at eng.gruppohera.it under section “Working at Hera Group” - “Available Positions”. If you receive a similar request for an interview/a job offer: DO NOT reply; DO NOT send money; DO NOT disclose personal or financial information; Timely report what happened to the competent authorities; Please keep us informed by writing toinfo@gruppohera.it. We take this matter very seriously and we hope that publishing this information could prevent these scams. We have already reported the facts to the competent authorityseeking the identification and punishment of the impostors. Sede Hera 2019-07-18 Read more Sede Hera It has come to the Hera Group’s attention that individuals misrepresenting themselves as Hera Group’ recruiters and managers have contacted people in order to conduct interviews and offer them fraudulent job opportunities within the Hera Group Sede Hera

top international sports events One such venture has been completed in just twenty days by Regione Emilia-Romagna, APT Servizi Emilia-Romagna, FCI (Italian Cycling Federation), Comitato Organizzatore di Imola2020 (Imola2020 Organising Committee), Enzo e Dino Ferrari Race Circuit of Imola, supported with coordination by CON.AMI and the main sponsor Hera Group. With 2,303 accredited visitors arriving from 70 countries for these World Championships - including teams, staff, professionals and volunteers, authorised personnel and media (200 official journalists from 20 countries) - Italy and the Emilia Romagna region have skilfully demonstrated how it is possible to stage major international sports events in complete safety, despite Covid-19 and the relevant measures imposed to protect public health. As well as the memorable sporting achievements by top athletes and wonderful landscapes featuring the Emilia-Romagna gullies, the 2020 UCI World Cycling Championships of Imola-Emilia Romagna revealed new scenes to hundreds of thousands of TV viewers. “We are very proud of being part of the team that managed to pull off this amazing feat”, commented Hera Group's Executive Chairman, Tomaso Tommasi di Vignano, “and thanks to which the region has received a huge benefit in terms of image and reputation. And we pay our compliments to the champions whose efforts won them the rainbow shirts. The roads on which the race takes place are the very same roads we travel every day to provide our services to citizens and businesses, being fully aware of how important they are for the community, and providing our services with great commitment and dedication. Also on this occasion, we believe we have done a good job, increasing our services to welcome and promote this important event to the best of our abilities.” top international sports events 2019-07-18 Read more top international sports events Hundreds of millions of viewers, 2,303 accredited from 70 countries: the numbers of the 2020 UCI World Championship in Imola, the fastest in history /-/hera-group-s-sustainable-energy-at-the-world-cycling-championships Read news stories dedicated to Hera Group’s sponsorship and the races in the World Cycling Championships top international sports events

World Road Cycling Championships Bike mobility is the most sustainable type of mobility and the Hera Group fully supports it as main sponsor of the World Road Cycling Championships that are to be held in Imola from 24 to 27 September 2020. But the multiutility has developed numerous sustainable mobility projects ranging from charging points for private and company vehicles, to vehicles that travel with biomethane produced from the separate collection of organic waste by citizens, and even garbage collection trucks powered by the vegetable oils collected in the area in which they operate. These are examples that bear witness to a vision of mobilitythat often goes hand in hand with the concept of circular economy, creating virtuous circuits. Try the E-Bike in the Hera area and find out more about e-charging During the World Cycling Championships, the multiutility will be present at the Enzo e Dino Ferrari Race Circuit, where the races start and finish, with an exhibition space to help the public better understand e-mobility through Hera’s products. In the exhibition area, visitors can try the E-Bikes Hera offers, through its business partnerships, and find out more about the electricity and gas deals and its range of e-mobility products. An initiative that has attracted great interest from customers in recent months. It will be possible to cycle electrically, thanks to the bikes distributed, among others, by a company of Castel San Pietro Terme. Hera’s charging points will also be on display in the exhibition area. The environmental services have been improved to ensure the sustainability of the event For the World Cycling Championships, together with the Administration of Imola, Hera has also improved the waste collection and cleaning services along the race routes to keep the city clean and ensure the sustainability of the event. In particular, specific cleaning operations have been planned along the routes of the time trial races and mass start events: sweeping with a driven sweeper and by an operator before the races and manual cleaning, before and after each race (even in the area around the circuit), collecting waste that has been abandoned or thrown on the ground and cleaning out dumpsters. At Imola, in the Circuit area, dumpsters will be unlocked for use by the public that attends the race. From 24 to 27 September, the times of certain waste collection services will differ, due to traffic restrictions. On 24 and 25 September these changes will also be applied in the municipalities of Borgo Tossignano and Casalfiumanese through which the time trial race route passes. Even in Riolo Terme, where the mass start events will be held on 26 and 27 September, as agreed with the municipal administration, Hera has improved the cleaning services before and after the races along the race route roads and in the neighbouring areas, also collecting waste that may be abandoned or thrown on the ground. The times of the dumpster emptying service will change, and door-to-door collection of paper and cardboard on Saturday will also be brought forward. After the World Championships, the roadside along the race route will be cleaned. “This is the first time that our Group has sponsored a high-level sporting event of this kind - said Tomaso Tommasi di Vignano, Executive Chairman of the Hera Group - and we are proud that it will be held in one of the territories that made it possible to found this company and, in a setting, that of the race circuit, that will undoubtedly highlight its importance. The roads on which the race take place are the very same roads we travel every day to provide our services to citizens and businesses, being fully aware of how important they are for the community, and providing our services with great commitment and dedication, with the same effort that these great champions will put into tackling gruelling climbs, giving us an incredible show of perseverance. Much of what we do is invisible, but we try to do our work in the best possible way and on this occasion too we will be at work, as always, every day, improving the services to host the many cycling fans, and helping to make this important event sustainable.” World Road Cycling Championships Press release Hera Group's sustainable energy at the World Cycling Championships 2019-07-18 Read more World Road Cycling Championships The multiutility will be present at the Imola Race Circuit with a space dedicated to e-mobility. The environmental services have been improved to ensure the sustainability of the event https://imola-er2020.it/en/homepage-english/ https://youtu.be/NxOjs3EhhXY Visit the official website Watch the new video World Road Cycling Championships

Firma accordo Fruttagel Circular economy and sustainability are at the heart of the Hera Business Solution protocol, signed today by the Hera Group and Fruttagel, a national leader in the food sector, specialised in the industrial transformation of fresh fruit and vegetables, cereals and beans. Thanks to the Hera Business Solution, a multiservice offer conceived for large companies, the Hera Group will lend its companies’ experience to Fruttagel. The support provided will allow the latter to meet rising and increasingly challenging goals in circularity along its entire production chain, broadening the range of services already provided by the Group and thus allowing it to count on the benefits ensuing from dealing with a single partner. Circular economy, indeed, is a concept often associated only with the waste treatment sector, while actually covering all areas and therefore also concerning the responsible and efficient use of water and energy. Circular economy across the board with Hera Business Solution The Hera Business Solution protocol signed by Hera and Fruttagel is a valid example of an agreement between different sectors of production that aims at providing solutions for both environmental and production issues, fully deserving a place within the circular economy circuit. This collaboration is part of a process already underway with Fruttagel, that uses a few services offered by the Hera Group, for example managing waste, with plans to reduce it and global service solutions to maximise recovery, and the purification plant; supplying drinking water; selling energy and web tools to analyse and manage energy consumption and evaluate its effects; offering data connectivity, internet and data centre services. Now that the Hera Business Solution protocol has been signed, the multi-utility will launch a phase of consulting to draft a monitoring model that covers all Fruttagel’s activities and provides support in reaching environmental sustainability goals in terms of raising consumption efficiency, improving environmental performances and reducing energy and environmental impact. The bar set for these goals will become even higher, owing to the broader range of coordinated services provided by the Hera Group. With the Hera Business Solution, the Hera Group is indeed available as a partner for large industrial groups, with an overall proposal consisting of integrated energy and environmental solutions, sustainable and well-defined for single businesses, taking their own complexity into account. The goal is to set out new opportunities for growth, working alongside companies, to reduce as much as possible costs for the community, the environment and future generations. All of this will involve regenerating natural resources, lengthening the useful life of goods and resources and developing skills for an efficient use of raw materials. The Circular Economy Report, to describe and measure sustainability Measuring and reporting are ever more crucial to remain competitive on the market, in reputational terms as well. In order to present results or previously launched sustainability projects, the Hera Group will lend Fruttagel its consolidated experience in this field, designing and drafting along with this company a report on the sustainability performance reached. The report will be constructed by including indicators concerning the main services acquired/provided, for example recovery in waste managed, greenhouse gasses avoided, renewable energy used and the primary energy saved thanks to efficiency interventions and cogeneration plants. Through these numbers, it will be possible to better analyse these processes and their impact, introduce plans for improvement and transparently report to stakeholders. Firma accordo Fruttagel Press release Hera Fruttagel 2019-07-18 Read more Firma_accordo_Fruttagel_870.1600351273.jpg The two companies have signed the Hera Business Solution protocol for managing integrated waste, drinking water, purification and energy efficiency enhancement services. This multiservice proposal is offered to large companies who wish to reach goals in sustainability, which are measurable and increasingly demanding in various areas, making the most of the skills provided by a single partner Firma accordo Fruttagel

Refinitiv_110 This year as well, the “Diversity & Inclusion Index” confirms the Hera Group’s presence among the world’s 25 most interesting companiesfor investors inclined towards companies committed to guaranteeing diversity and inclusion. In the 2020 edition, which examined a broader range of listed companies coming to over 9,000 worldwide, Hera’s score of 77 points made it the second company in Italy and 12th in the world, further improving its position (after ranking 14th in 2019). The Group was furthermore confirmed as the leading multi-utility globally. The “Diversity & Inclusion Index” was conceived and is carried out by the international financial information giant Refinitiv (formerly Thomson Reuters), which analyses corporate performance based on a range of ESG (environmental, social and governance) factors. It mainly focuses on four areas: diversity, inclusion, people development and controversies published in the media. These recognitions prove that our company’s attention towards these issues have made it a pioneer, nationally and internationally. As early as 2009, indeed, our multi-utility signed the Charter for equal opportunity and equality on the workplace, and in 2011 it introduced a Diversity Manager who, supported by a team of employees coming from various areas and companies belonging to the Group, is responsible for planning projects that reflect the company’s policy in valorising diversity, equal opportunity and equality on the workplace. Refinitiv Press release Hera in DI Index 2020 2019-07-18 Read more Refinitiv_870.1600240517.png The Hera Group continues to rise in Refinitiv’s international ranking, the “Diversity & Inclusion Index”, a reference point for investors who look with interest towards the businesses committed to promoting diversity, inclusion and people development /group_eng/working-at-hera-group/why-work-at-hera/diversity-inclusion Hera's investments in sustainability, diversity and inclusion Refinitiv_110