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

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

Hera’s Ordinary Shareholders Meeting, chaired by Tomaso Tommasi di Vignano, was held this morning in Bologna to approve the 2022 financial statements and the payment of a dividend rising to 12.5 cents per share, in line with what was previously announced during the presentation of the Business Plan to 2026. 2022 financial statements approved with results showing growth The Assembly approved the 2022 financial statements, which confirmed growth in key operating and financial indicators and in investments. These figures demonstrate, once again, the validity of the management policies implemented by the Group, which, together with its solid and resilient multi-business industrial model, have proved effective in responding to the complex external scenario, enabling it to guarantee continuity and quality of services and to create value for the company and all stakeholders, while pursuing sustainable development. Dividends paid rise to 12.5 cents per share The Shareholders Meeting then approved the Board of Directors’ proposal to distribute a dividend coming to 12.5 cents per share, up 4.2% compared to the last dividend paid. The ex-dividend date was set at 19 June 2023, with payment as of 21 June 2023. The dividend will be paid to shares recorded on 20 June 2023. The dividend paid, based on the Hera share price at 31/12/2022, corresponds to an annual return of 4.94%. Sustainability Report: Shared-value Ebitda up sharply to 670.3 million euro The 2022 Sustainability Report was also presented during the Shareholders Meeting, showing that improvement in operating and financial indicators goes hand in hand with the Group’s focus on sustainability and its attention towards all stakeholders. More specifically, in 2022, shared-value Ebitda, which refers to business activities that also respond to the drivers for sustainable growth and therefore involve operations that help meet the targets on the Global Agenda, rose to 670.3 million euro, up significantly compared to 2021 (+17.5%) and corresponding to 51.8% of overall Ebitda. Board of Directors and the Board of Statutory Auditors renewed The Board of Directors and the Board of Statutory Auditors were renewed for the next three years (their mandate expiring on the date of the Shareholders Meeting held to approve the 2025 financial statements). As an outcome of the vote, the following directors were appointed: majority list (representing Hera’s public shareholders agreement): Cristian Fabbri, Orazio Iacono, Gabriele Giacobazzi, Fabio Bacchilega, Gianni Bessi, Grazia Ghermandi, Alessandro Melcarne, Lorenzo Minganti, Milvia Mingozzi, Marina Monassi and Monica Mondardini minority lists: Francesco Perrini, Paola Gina Maria Schwizer, Alice Vatta, Bruno Tani. The CVs of the new directors can be consulted at: https://eng.gruppohera.it/group_eng/corporate-governance/board-of-directors As regards the Board of Statutory Auditors, the following auditors were appointed: majority list (representing Hera’s public shareholders agreement): Marianna Girolomini, Antonio Gaiani (standing auditors), Susanna Giuriatti (alternate auditor) minority list: Myriam Amato (Chairman), Stefano Gnocchi (alternate auditor). The CVs of the new auditors can be consulted at: https://eng.gruppohera.it/group_eng/corporate-governance/board-of-statutory-auditors Executive Chairman, Vice Chairman and CEO appointed The inaugural meeting of Hera’s Board of Directors, appointed in the morning by the Shareholders Meeting, was held this afternoon in Bologna. The Board appointed the Chairman, Vice Chairman and CEO. Cristian Fabbri, who has been with the company since 2006, was appointed Executive Chairman. Within the Group, he held positions involving increasing responsibilities before becoming Hera’s Central Market Director, CEO of Group subsidiaries Hera Comm and EstEnergy, and a member of the Boards of Directors of other Group companies. Gabriele Giacobazzi was confirmed as (non-executive) Vice-Chairman, the role he has covered since 2020. President of the Association of Engineers, he has been a professor at the Faculty of Engineering of the University of Modena and Reggio Emilia. Orazio Iacono was confirmed as CEO, the position he has held at Hera since May 2022. He previously worked at RFI and later Trenitalia, eventually acting as CEO and General Manager, a position he held until 2020. In 2021 he was Senior Advisor Oaktree Capital Management/PwC Italy and later became Chief Operating Officer Sustainable Infrastructures at Saipem. Lastly, the Board of Directors thanked Tomaso Tommasi di Vignano, whose term of office came to an end after more than 20 years at the helm of the Hera Group, for his fundamental contribution to the company’s growth. “I am honored to have been appointed Executive Chairman of Hera and I thank the Shareholders and the Board of Directors for their trust - declared the new Executive Chairman of the Hera Group, Cristian Fabbri -. I have been working in this Group since its constitutive phases in 2002. In 21 years we have achieved ambitious growth and value creation goals by working to eliminate the carbon neutrality of our activities and those of our customers, the regeneration of resources and the resilience of the system of services in the area. Together with the CEO Orazio Iacono, all the management and employees, we will continue in this direction for the benefit of the local ecosystem, future generations, our customers and our shareholders. I take the baton from Dr. Tomaso Tommasi di Vignano who led the Hera group for 21 years in an uninterrupted growth path and who leaves a solid company ready to face new challenges and hit ambitious goals. Special thanks to him." For further information Press release Shareholders’ Meeting 2023 Online Report FY2022 Online Sustainability Report 2022 primo_piano_assemblea_azionisti_2023_870.png The Group continues along its path of growth, creating value shareholders and the local areas served. Cristian Fabbri appointed Executive Chairman of the Board of Directors and Orazio Iacono confirmed as CEO assemblea_azionisti_2023_110.jpg

With the second “sustainability-linked bond” and the activation of a new “Sustainability-Linked Revolving Credit Facility”, we will allocate more than 1 billion Euro in financing to projects in favour of the green transition. In particular, the Euro 600 million of the new non-convertible bond is part of the sustainability strategy aimed at decarbonising and recycling plastics, while the new Euro 450 million “Sustainability-Linked Revolving Credit Facility” further expands the innovative financial products and instruments adopted, contributing to maintain its financial soundness. The characteristics of the second “sustainability-linked bond” The aggregate amount of the second “sustainability-linked bond”, reserved to qualified investors, to be issued under the company’s Euro Medium-Term Notes Programme, is equal to Euro 600 million, repayable after 10 years. Also this second “sustainability-linked bond”, like the one launched in 2021, met a great interest from international investors. In fact, the transaction saw significant participation from international investors (France, Germany, the Netherlands and the United Kingdom), most of them specialised in sustainable finance products. The strong demand, with subscription requests of approximately 2.7 billion euro, equal to 4.5 times the offer, and the quality of the orders received have therefore allowed the price to be set at excellent levels. The bond provides for an annual fixed-rate coupon of 4.250%, while the yield at the time of issue is 4.310%. Starting from the interest payment date of 2032, a possible step-up (interest rate increase) is foreseen in case the company does not reach the targets of (1) reduction of Green House Gas emissions expressed in CO₂ tonnes (rate increase of 0.30%) and (2) increase in the amount of recycled plastic, expressed in thousands of tonnes (rate increase of 0.20%). The sustainability-linked bond is part of our strategy aimed at reducing greenhouse gas emissions and increasing the amount of recycled plastic. In particular, we intend to reduce greenhouse gas emissions by 37% by 2030 (compared to 2019), thanks to concrete internal actions and to the involvement of suppliers and customers, in relation to the sale of electricity and gas: one of the most ambitious goals for a company in Italy, validated by the highly respected international network Science Based Target initiative (SBTi). For further information Press release primo_piano_hera_870.png Strong interest of international investors for the second sustainability-linked bond of the multiutility, for an amount equal to Euro 600 million and a maturity of 10 years, which received subscription requests for about Euro 2.7 billion, 4.5 times higher than the amount offered centrata 009__DSC8293-LOWRES.jpg

Today, the Board of Directors of the Hera Group, chaired by Tomaso Tommasi di Vignano, unanimously approved the consolidated operating results at 31 December 2022 and the Report on remuneration policies and compensation paid, as well as the Sustainability report. Uninterrupted growth in business and value created for stakeholders Thanks to its consolidated multi-business model, balanced between regulated and free-market activities, and its good operational, financial and fiscal management, the Hera Group closed 2022 with operating results and investments up on the previous year. It therefore dealt positively with a particularly complicated external scenario, marked by ongoing volatility on the energy market and a highly unstable international geopolitical situation. The management policies implemented by the Group, together with its solid and resilient industrial model, once again proved effective in responding to these external complexities, making it possible to guarantee continuity and quality in services and creation of value for all stakeholders, while at the same time pursuing sustainable development. In addition to the flexibility shown towards suppliers, who were allowed to revise their supply conditions based on inflation, numerous initiatives were introduced to support customers, with particular attention to those facing hardship, including reinforcing instalment plans for bills, extending protocols with municipalities and social bonuses for district heating, and supporting digital tools and qualified operators for consumption analysis and efficiency. The Group thus proved able to turn challenges into opportunities and confirmed its significant volume of investments in the energy transition, the circular economy and innovation, with concrete projects coherent with the main national and international policies. More specifically, in 2022 an increase coming to over 20% was seen in investments compared to 2021, demonstrating the Group’s ongoing focus on valorising and strengthening the resilience of assets under management, with the ultimate goal of continuing to create value for stakeholders. “The 2022 financial year closed positively – Executive President, Tomaso Tommasi di Vignano, emphasized – with results exceeding expectations and fully consistent with previous quarters. After 2021, this is one of the best growth rates recorded in more than twenty years by the Hera Group, all the more appreciable in light of the external context in which it was achieved. Relying on the strength of our consolidated business model and our risk-averse policies, we have once again confirmed our commitment to creating value for the company and for all our stakeholders. The proposed increase in dividends, coming to 12.5 cents per share and in line with the communications made when presenting the Business Plan to 2026, also goes in this direction. On the one hand, we have continued to make investments, in order to face the energy crisis and ensure that all our assets remain resilient and performing, thus ensuring that our strategic plans are carried out and the quality of the services managed stays high. On the other, we have pursued the company’s development along external lines, with M&A transactions in the energy and waste management sectors, with the goal of consolidating our position in the reference markets and further improving the competitiveness and efficiency of the solutions we offer to our customers.” "The positive results – Chief Executive Officer, Orazio Iacono, added – achieved allow us to face the future with confidence, continuing to invest to grow and increase the resilience and digitisation of our infrastructure. Our efficient financial management, along with cash flow generation, allowed us to close the financial year 2022 with a net debt/Ebitda ratio coming to 3.28x, which, excluding the gas storage investments now falling back into line, drops to below 3x, in line with the Group’s historically prudential policy. Shared-value Ebitda rose to 670 million, 51.8% of total Ebitda, and showed growth outpacing that of overall Ebitda, which proves that we are progressively making our operations more and more sustainable. 2022 was also a record year for investments, which came to over 700 million euro, 62% of which were put in place to pursue carbon neutrality, promote the circular economy, enable resilience and innovate. A number of innovative initiatives in the area of renewables also moved in this direction: for example, in 2022 we expanded our biomethane production capacity by around 50% with the construction of a second plant, and we were the first in Italy to introduce a hydrogen-natural gas blend into a city’s network intended for households. Partially thanks also to this latter operation, our gas distribution networks have become fully aligned to the European Taxonomy.” For further information Press release Interactive 2022 annual report Visit Investors area 2022 sustainability report 2022 Sustainability Report Highlights primo_piano_BE2022.png The year ended positively, with growth in the main operating and financial indicators. The dividends proposed rise to 12.5 cents per share 110x150_BE2022_primo-piano.jpg

The Hera Group, through its subsidiary Acantho, and the Ascopiave Group finalised the acquisition of 92% of the shares of Asco TLC, with stakes of 36.8% and 55.2% respectively. The closing follows the award, at the end of November 2022, of the public tender procedure called by Asco Holding for the sale of 92% of the shares of Asco TLC, held by Asco Holding itself and by the Treviso-Belluno Chamber of Commerce, and the subsequent signing on 29 December 2022 of the related contract documentation between the Hera Group and the Ascopiave Group. The cash-settled acquisition price is EUR 37.2 million. For the two groups, the transaction represents a strategic step in the evolution of the business portfolio in the IT-TLC sectors, in line with their respective industrial plans. Moreover, it is the first step of a broader operation that would lead, through the merger of Asco TLC into Acantho, to the birth of a multi-regional operator with significant operational synergies compared to the stand-alone companies, and benefits for customers as well. For further information Press release perfezionamento_acquisizione_Asco_TLC_870.png The transaction represents a strategic step in the business portfolio evolution of both the groups in the IT-TLC sector centrata sede-hera-110.jpg

We have always focused on developing our personnel and considered training as a key element. This commitment has now earned us first place in the “Training” category of the eleventh edition of the Top Utility award, which each year analyses and valorises the evolution and performance of the 100 largest utilities operating in Italy in the electricity, gas, water and waste management sectors. We received the prize “for the completeness of its training programmes in terms of topics covered and duration, as well as for the attention given to employees’ needs for in-depth training, based on their different characteristics and tasks”. Training and developing skills, to rise to future challenges We continue to show our extensive and concrete commitment to corporate training and people development policies, which are one of the Group’s cornerstones. In 2022 alone, 97% of Hera’s workforce, including the most operational part, was involved in courses totalling over 270 thousand hours, equivalent to roughly 30 hours of training per capita, well above the sector average. We guide our choices with an eye to the future, not only in terms of professional growth and skills development, but also with a view to acquiring talented people who can make a contribution to meeting tomorrow’s challenges, first and foremost the energy and environmental transition. One key element in this area continues to be our corporate university, HerAcademy, founded in 2011 with the purpose of generating new knowledge and responding to trends seen in the context, including debate on current issues and collaborations with leading national and international institutions. For further information Press release Visit our Training web area primo_piano_top-utility_2023_870.png The recognition came during the eleventh edition of the Prize that analyses and valorises the performance of the most important Italian companies in the utility sector centrata top-utility_2023_110.jpg

The Executive Chairman of the Hera Group, Tomaso Tommasi di Vignano, after more than twenty years at the head of the company, believes that he has fulfilled his mandate, which expires on 27 April 2023, the date on which the Shareholders Meeting has been called. “I am proud to have contributed to the history of the Hera Group”, states Chairman Tomaso Tommasi di Vignano, “and, working with a top-class management team, to have combined corporate growth with sustainable development. We have created an innovative model that remains ahead of its time, aimed at creating ever more value for our stakeholders and making the areas served increasingly competitive. I therefore wish Cristian Fabbri the best of luck with the important position he will soon cover, after the Shareholders Meeting held on 27 April. It provides recognition for the excellent work he has been doing within the Hera Group since 2006, and I am certain that he will continue to contribute to the company’s development and will also be able to turn future challenges into opportunities.” Tomaso Tommasi di Vignano has been Chairman of the Group since November 2002, and oversaw its initial public offering in June 2003. His guidance has been fundamental in realising the far-sighted vision of the Hera Group’s founding public shareholders, and with his know-how and undisputable management skills, he has helped to guide the company along a path of development and success that has made it one of the most important multi-utility companies nationwide, consolidating its leadership in the sectors in which it operates. This path of uninterrupted growth was crowned in 2019, when Hera was included in the FTSE MIB among the 40 largest companies on the Italian stock exchange, and in 2020, when it was included in the prestigious international Dow Jones Sustainability Index. For more than twenty years, the Group has been committed to creating value for all stakeholders and, thanks to its solid corporate governance, it has confirmed itself over time as a reference point for the areas served and a highly reliable systemic operator. For further information Press release Press release about Shareholders Syndicate Committee Tomaso Tommasi di Vignano_870_primopiano.png Tomaso Tommasi di Vignano_110.jpg