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Hera Group's BoD approves results for the first quarter of 2026

13/05/2026

Hera Group's BoD approves results for the first quarter of 2026

The consolidated three-month report as at 31 March shows improved performance and an increase of over 24% in capital expenditures.

Economic and financial highlights

Revenue at € 3,517.6 million
EBITDA at € 418.9 million (+0.2%)
Net profit attributable to shareholders: € 154.6 million (+0.6%)
Capital expenditures of € 237.7 million (+24.1%)
Net financial position at € 4,028.6 million, with net debt/EBITDA at 2.62x

The Hera Group's Board of Directors, chaired by Executive Chairman Cristian Fabbri, today approved the consolidated results as at 31 March 2026.
The results for the first quarter are set against a complex global macroeconomic backdrop, characterised by the further geopolitical tensions that began in February 2026 and the continued volatility of energy markets. However, Hera Group’s quarterly performance showed to be resilient to the external environment, which closed with an overall improvement in gross business margins and financial results compared to the same period of the previous year, confirming the Group’s ability to generate value on an ongoing basis.

This continuity and stability are also reflected in the company’s governance, as evidenced by the reappointment, on 29 April, of the Executive Chairman and the Chief Executive Officer for a further three-year term, and are further demonstrated by the company’s attractive dividend policy. Indeed, in June 2026, a dividend of 16 eurocents per share, gross of statutory withholding taxes, will be distributed, up 6.7% compared with the last dividend paid and higher than the forecast in the previous Business Plan, which was 15.5 eurocents.
More generally, the established strategy, based on a balance between regulated and free-market activities, business diversification, and the ability to seize opportunities arising from the external environment in a timely manner, remain the multi-utility's key assets for addressing the uncertainties and challenges anticipated for the remainder of 2026. Furthermore, they enable the Hera Group to continue to effectively pursue the industrial growth and sustainability targets set out in the five-year strategy document approved in January of this year.

With regard to sector consolidation activities, the Hera Group expanded its scope compared to the first quarter of 2025 and further strengthened its activities in the water and waste sectors through the acquisition of:
100% of Ambiente Energia, a Veneto-based company specialising in the treatment of industrial liquid waste, consolidated as of the second half of 2025;
100% of STA and the related stakes in the subsidiaries belonging to the Sostelia Group, a major privately owned Italian player in industrial and civil water treatment and technology;
52% of the share capital of Servizi Ecologici Ambientali (SEA), which operates a multifunctional special waste storage and treatment facility located in Camerata Picena (Ancona), in addition to the 31% already acquired by HASI in 2021, thereby increasing its overall stake to 83% of the share capital.

Cristian Fabbri, Executive Chairman of the Hera Group, stated:
“The positive results achieved in the first quarter, achieved in a complex external environment and without the contribution of certain temporary factors, confirm the resilience and effectiveness of our strategy and enable us to be on track with the targets of our Business Plan. As at 31 March 2026, EBITDA stood at € 418.9 million, highlighting a structural growth of 9% and enabling a further increase in Net profit. Capital expenditures, fully self-financed thanks to increased cash flows, reached almost € 240 million, an increase of over 24%. These results, together with the increased dividend we will distribute in June, and our numerous projects aligned with the UN Sustainable Development Goals, once again confirm our ongoing focus on creating value for all our stakeholders and our ability to combine business growth with sustainable development”.

Orazio Iacono, CEO of the Hera Group, stated:
“The results achieved by the Hera Group in the first quarter of 2026 and the strong financial performance have enabled us to continue our growth, with net profit attributable to shareholders rising to € 154.6 million. Our strong cash flow generation enabled us to finance the increase in capital expenditures and a significant portion of the € 142 million invested in M&A, which means we close the quarter with good financial flexibility, with a net debt/EBITDA ratio of 2.62x. This confirms our ability to continue our growth trend, also through acquisitions, with our most recent purchases of Sostelia and a further 52% stake in SEA: two transactions that represent new key additions to our water and waste value chains”.

Revenue of over 3.5 billion
As at 31 March 2026, revenue stood at € 3,517.6 million, down from € 4,321.3 million in the previous financial year, primarily due to lower average prices for energy commodities during the quarter, despite the increase in March, lower volumes of gas and electricity sold to end customers, mainly for the last-resort markets and Consip, and lower revenue from trading activities in both the gas and electricity businesses.

EBITDA, net operating profit and pre-tax profit all up
EBITDA rose to € 418.9 million, up 0.2% compared to the result as at 31 March 2025: the contributions of the electricity, water cycle, waste and other services areas were particularly positive. This performance is even more noteworthy when one considers that the first quarter of last year benefited from margins related to temporary opportunities amounting to approximately € 33 million and from one-off tariff adjustments totalling approximately € 13 million.
The EBIT margin amounted to € 248.8 million, up by 0.6% compared to the first quarter of 2025, while pre-tax profit amounted to € 234.5 million, up by 0.2%.

Net profit attributable to shareholders up to 154.6 million
Thanks to strong operating and financial performance, net profit rose to € 165.1 million (up 0.8%), compared with € 163.8 million as at 31 March 2025, despite the increase in the IRAP (regional business tax) rate for the energy sectors as a result of the ‘Bills Decree’. Net profit attributable to the Group’s shareholders increased by 0.6% to € 154.6 million, compared to € 153.7 million in Q1 2025.

Increased capital expenditures maintaining Group's financial strength
Capital expenditures reached € 237.7 million in the first quarter of 2026, an increase of 24.1% compared to the previous year, reflecting the Group's commitment to strengthening the resilience of the regulated assets under management and enhancing their technological capabilities, including in support of the green transition. Strong cash flow generation made it possible to finance a significant portion of the € 142 million invested in the quarter for M&A; indeed, net debt increased by only € 84.2 million, reaching € 4,028.6 million. The net debt/EBITDA ratio in the first quarter of 2026 was 2.62x, maintaining substantially unchanged the multi-utility's financial strength and flexibility, which will enable it to continue seizing further growth opportunities, both organically and through M&A.

Gas
In the gas area – which covers services in natural gas distribution and sales, district heating and energy performance services – EBITDA for the first quarter amounted to € 170.5 million, compared with € 187.3 million as at 31 March 2025, mainly due to normalized margins in the last-resort markets and in regulated distribution revenue, which in the previous year benefited from extraordinary revenue recognition. Traditional sales markets, trading activities, district heating and energy efficiency activities all performed well.
Capital expenditures in the gas area amounted to € 48 million, up € 9.6 million compared with the previous year (up 25%), primarily due to the expansion of district heating operations.
The number of gas customers stood at 1.8 million.
The gas area contributed 40.7% of the Group’s total EBITDA.

Electricity
EBITDA for the electricity area – which includes services in electricity distribution, sales and generation, as well as public lighting – rose to € 74.2 million, an increase of € 13.4 million compared with Q1 2025. This increase is attributable to sales activities, trading, value-added services, public lighting, and insurance payouts following a damage at the Imola cogeneration plant at the end of 2024. There was a slight decrease in electricity distribution, which in 2025 benefited from the recognition of inflation from previous years under Resolution 130/2025/R/com, which revised the criteria for the Regulation by Expenditure and Service Targets (ROSS) introduced by Resolution 497/2023/R/com.
In the electricity segment, capital expenditure amounted to € 32.1 million euro, an increase of € 5.7 million euro compared to the previous Q1 2025 (+21.6%). In the distribution sector, work mainly involved extraordinary maintenance and upgrading of regulated networks and plants in the Modena, Imola, Trieste and Gorizia areas, as well as the work to improve regulated asset base resilience.
With regard to public lighting, the management of approximately 26 thousand additional lighting points was acquired during the quarter. The percentage of lighting points using LED lamps also increased, exceeding 68% of the total, confirming the Group’s ongoing focus on increasingly efficient and sustainable public lighting management.
As at 31 March 2026, the number of electricity customers stood at almost 2.5 million.
The electricity area contributed 17.7% of the Group’s total EBITDA.

Water cycle
As at 31 March 2026, the EBITDA of the integrated water cycle area – which includes aqueduct, wastewater treatment and sewerage services – rose to € 74.6 million, up 4.9% compared with € 71.2 million in the first quarter of 2025, primarily due to higher regulated revenue as a result of tariff adjustments related to the recognition of RAB and inflation.
During the first quarter of 2026, capital expenditures in the regulated integrated water cycle area amounted to € 92.5 million, up 22% compared with the previous year, broken down as follows: 56.5 million in aqueducts, 26.7 million in sewerage and 9.3 million in wastewater treatment.
The integrated water cycle area contributed 17.8% of the Group’s total EBITDA.

Waste
EBITDA for the waste management area – which includes waste collection, treatment and recovery services – increased to € 91.8 million, primarily due to the positive contribution from treatment and recovery activities, driven by the higher sales volumes at Aliplast, and the good performance of ACR, as well as the benefit of changes in the scope of consolidation of the Sostelia Group and SEA. These factors more than offset the decline in energy management, linked to the normalization of the commodity prices, and the lower volumes of waste delivered to some of the Group's landfill sites (Feronia, Asa and Cà Asprete). Regulated Urban hygiene activities also grew, in particular due to the recognition of inflation and the increased demand for supplementary services in the managed areas that were the subject of tenders in previous years.
The rate of sorted waste collection at 31 March 2026 rose to 76.8%, up 1.3 percentage points compared to 75.5% in the first quarter of 2025.
Capital expenditures in the waste management area amounted to € 46.5 million, up 46.7% compared with the previous year, and were mainly allocated to maintenance and the development of waste treatment and recovery plants, such as the construction of Line 4th at the Padua waste-to-energy plant. The waste management area contributed 21.9% of the Group’s total EBITDA.

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Hera Group approves 1Q2026 financial results

Online from 13 May 2026 at 13:07

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17/07/2026

Hera confirmed in the FTSE4Good Index Series for the seventh consecutive year

The Group's continued inclusion in the index confirms the strength of its ESG profile, standing above the Utilities and Multiutilities sector average in key areas including Climate Change, Labour Standards, Governance and Anti-Corruption.

Hera confirmed in the FTSE4Good Index Series for the seventh consecutive year

Hera stock has been confirmed, for the seventh consecutive year, as a constituent of the FTSE4Good Index Series, FTSE Russell's sustainability index that includes companies worldwide recognised for their commitment to responsible and sustainable business practices.
The 2026 assessment confirms the Group's inclusion in the index with a score well above the utilities sector average, reflecting the effectiveness of Hera’s long-standing commitment to environmental, social and governance excellence.

Among the areas in which Hera achieved particularly strong performance are climate change management, labour standards, the robustness of its corporate governance framework and its anti-corruption practices. These are key pillars of the Group's strategy, as demonstrated by its Climate Transition Plan, which targets net-zero emissions by 2050, and by the signing of the Good Work Pact with trade unions.

Inclusion in the FTSE4Good Index Series therefore represents a further recognition of Hera's sustainable growth journey, underpinned by a business model focused on creating shared value for local communities, customers, employees and shareholders. Shared value creation accounts for 77% of the investments envisaged under the Group's Business Plan, with the objective of increasing shared value EBITDA to 68% of total EBITDA by 2029, while delivering a structural Total Shareholders' Return averaging 10% per year, while maintaining a low-risk profile.

FTSE4Good Index Series
The FTSE4Good Index Series was created by FTSE Russell to support investment in companies that meet globally recognised environmental, social and governance standards. It serves as an important benchmark for the development of sustainable investment portfolios and indices.
Companies included in the FTSE4Good Index meet rigorous ESG criteria and are therefore considered to be better positioned to capture the benefits associated with responsible business conduct.

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Hera confirmed in the FTSE4Good Index Series for the seventh consecutive year 20260717

Online from 17 July 2026

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17/07/2026

Online since 17/07/2026

Hera confirmed in the FTSE4Good Index Series for the seventh consecutive year

14/07/2026

M&A

This transaction contributes to the execution of the strategy aimed at doubling the capacity of its subsidiary Aliplast to over 210,000 tonnes per year of high-quality recycled plastic raw materials, consolidating its leadership in the sector in Europe. The acquisition will be finalised by the end of 2026.

Hera Group strengthens its leadership in plastics regeneration by acquiring 70% of Kronos Polymer Polska

Online since 14/07/2026

17/06/2026

The multi-utility tops the ranking, marking its sixth consecutive year on the podium, the only Italian company to achieve this result. The recognition rewards the credibility and consistency with which the Group integrates ESG factors into its strategy, governance and corporate culture. centrata Hera Group ranked first in the 2026 ESG Identity Corporate Index, developed by ET.Group to measure the extent to which ESG factors are integrated into companies’ strategies and decision-making processes. The results of the eleventh edition were presented today in Milan at the ESG Business Conference. The Group’s growth, together with the progressive evolution and increasing maturity of its ESG model, has gone hand in hand with continuous advances in governance, enabling the multi-utility to rank among the Top 10 for 9 consecutive years and on the podium for six years in a row. A more selective assessment focused on ESG credibilityThe recognition is even more significant as it is the outcome of a rigorous assessment process carried out against a benchmark that continues to rise. The 2026 edition included a record 109 companies, all demonstrating increasingly advanced levels of ESG maturity. The assessment itself has also become more demanding, shifting the focus from disclosure alone to companies’ ability to demonstrate the effective integration of ESG factors into strategy, decision-making processes and corporate culture. The analysis centres on the development of a robust and coherent ESG strategy geared towards value creation, transparent reporting of results, and the ability to anticipate and manage risks. For Hera Group, particular emphasis was placed on: governance as an enabler, supported by the active involvement of dedicated governance bodies; the integration of ESG targets into remuneration policies and long-term strategies; the ability to foster a cross-functional ESG culture involving all business functions and the entire value chain. Hera Group builds its ESG narrative on its strategy, its commitments and its ability to translate them into tangible results. Over more than twenty years, the multi-utility has combined sustained economic growth with the evolution of its governance towards increasingly demanding targets, clear accountability and measurable performance. The credibility of the Group’s commitments rests on a consistent track record of delivery, as demonstrated by significant investments, completed projects and reported impacts. The same rigour underpins investment in people development through skills, inclusion and professional growth, as well as incentive systems that embed sustainability targets. For Hera Group, ESG is therefore the practical framework through which the company governs, grows and creates value over time. 2026-06-17 sede-hera-110.jpg

Hera Group ranks first in the 2026 ESG Identity Corporate Index

Online since 17/06/2026

16/06/2026

The €100 million project, launched in 2019, has been completed to support local regeneration and the circular economy. sede Hera 110x150.jpg centrata Ravenna, June 16, 2026 – The Ravenna environmental hub, a center dedicated to the circular economy and industrial waste management, is now a reality. The project by Eni and Hera, and in particular their subsidiaries Eni Rewind and Herambiente, represents a model based on industrial regeneration and ecological transition: thanks to the environmental remediation activities carried out by Eni Rewind, which owns the area, and to a total investment of €100 million, a 26-hectare decommissioned site located within the Ravenna district has been restored and repurposed for a new industrial development initiative The Ravenna Environmental Hub’s facilities will help reduce the structural shortage of plants for managing special waste in Italy, maximizing material recovery and reducing reliance on landfills. In particular, the HEA platform - a joint venture between HASI (Herambiente Servizi Industriali) and Eni Rewind - is one of the most significant integrated industrial waste management projects in Italy. The HEA platform is a multifunctional facility for the pretreatment of special waste, both solid and liquid, from industrial and remediation activities. It will replace the historic HASI storage platform in Ravenna, introducing more advanced technologies, greater capacity, and increased operational flexibility to meet the needs of Eni Group operations and the wider industrial market. With a treatment capacity of up to 60,000 tons per year and a multi-line plant configuration, the platform enables a wide range of operations, from storage and repackaging to shredding and mixing. Its main objective is to maximise material recovery and reduce disposals, increasing the efficiency of operations and supporting economies of scale. The HEA platform is strategically important for Ravenna, a major industrial district and one of Italy’s largest producers of special waste. It contributes strengthening local treatment capacity, reducing transfers to facilities outside the region or abroad, and providing companies with more efficient local services. It supports competitiveness, operational continuity and the development of new circular supply chains as well. The Hub also hosts Eni Rewind’s biorecovery plant, which can treat up to 80,000 tons per year of hydrocarbon-contaminated soils from remediation activities. The plant uses a biological aerobic biodegradation process to treat soils which can then be reused as backfill in remediation sites, minimizing the use of virgin materials. A dedicated chemical laboratory managed by Labanalysis Environmental Services, an Italian sector leader in which Eni Rewind holds a stake, will monitor processes and ensure compliance. In addition, Plenitude, an Eni subsidiary, has also built a renewable energy production facility as part of the Hub. Operational since 2024, the photovoltaic plant has a capacity of 6 MWp and covers 11 hectares, with more than 10,000 installed panels. The plant optimizes energy production by using solar panels which can capture light on both sides and are mounted on mobile structures that follow the path of the sun throughout the day. These structures are installed on special supports placed directly on the impermeable cover built as part of the site’s permanent safety measures. In April 2026, the project added an experimental energy storage system based on a new generation of vanadium flow batteries. The system has been completed and connected to the existing photovoltaic installation. Eni Rewind began the overall redevelopment of the Ca’ Ponticelle area in 2019 implementing environmental remediation activities. In 2021, the works had been completed to permanently secure the area, which was once part of a petrochemical complex. In 2023, following the update of the Municipality of Ravenna’s Urban Plan, construction began on the new environmental infrastructure that is expected to become operational in July 2026. “The Ravenna Environmental Hub is being developed on a site deeply rooted in Enihistory. We have transformed the decommissioned Ca’ Ponticelle site into an environmental platform capable of combining remediation, industrial redevelopment, and industrial competitiveness. The site is strategically positioned to meet market needs and will host Eni Rewind’s first two waste treatment plants, alongside the more than 40 plants we operate in Italy for water treatment” said Paolo Grossi, Chief Executive Officer of Eni Rewind. “Our environmental services offering is further enhanced by bioremediation plants for soil recovery and by the industrial waste pre-treatment platform, developed in partnership with Herambiente. The Ravenna Environmental Hub is a concrete example of sustainable development, and we hope it can serve as a replicable model in other regions to reduce infrastructure gaps and the environmental impact of waste management.” “With the new multifunctional HEA platform within the Ponticelle Environmental Hub, the Herambiente Group is taking another step in strengthening its position in industrial waste management. The project is part of a development path aimed at creating a unique plant system in Italy that helps bridge the country’s infrastructure gap and reduce waste exports abroad,” said Andrea Ramonda, Chief Executive Officer of Herambiente. “The HEA facility, developed through the joint venture with Eni Rewind, is equipped with the best available technologies and is designed to maximize the recovery of materials and energy. It will efficiently manage flows related to Eni Group activities and those of the wider market, with tangible benefits for the competitiveness and operational continuity of the local production system. The project also strengthens Ravenna’s strategic role. Herambiente first launched its operations here, and the industrial zone is now part of a circular economy hub serving the industries across Central and Northern Italy.” “The Ravenna Environmental Hub is the result of a vision that began to take shape in 2019, when we started working with Eni, Hera and all the stakeholders involved in the redevelopment of a strategic area such as Ca’ Ponticelle. Today this project shows how environmental regeneration can become a driver of industrial development, innovation, and skilled employment. Ravenna is reaffirming its role as a major national energy and industrial hub, with an increasingly strong focus on the circular economy and sustainability,” said Michele de Pascale, President of Emilia-Romagna Region. “The ability to reclaim disused areas, develop technologically advanced facilities, and create new supply chains linked to material recovery represents a key lever for the future competitiveness of the territory. This investment strengthens Ravenna’s role as one of Italy’s leading laboratories for ecological and industrial transition and offers new opportunities for economic and employment growth for the city, the regional production system, and future generations.” “Today, from Ravenna, a strong message is being sent to the country through a project that combines industrial reconversion and environmental protection, representing a strategic infrastructure not only for our city but also for Italy. This is the model we would like to set the course for the future: fewer landfills, more recovery, more skilled jobs, and investments in photovoltaics, with a view to advancing the circular economy” said Alessandro Barattoni, Mayor of Ravenna. “Thanks to an investment of €100 million, a 26-hectare former industrial site, fully reclaimed from an environmental standpoint, will host new initiatives supporting industry, waste cycle management, and the ecological transition, under a model of competitiveness that combines productivity with environmental sustainability.” Scan here to access the media kit For more information about the HEA platform, visit the website: https://ha.gruppohera.it/herambiente-group/hea 2026-06-16 sede-hera-110.jpg

Eni and Hera: the Environmental Hub is established in Ravenna in the Ca’ Ponticelle area

Online since 16/06/2026

09/06/2026

centrata The Board of Directors of Hera S.p.A., which met today, assessed the independence of its directors appointed by the Shareholders’ Meeting of 29 April 2026. On the basis of the statements made by the Directors and the information available to the company, the Board of Directors of Hera S.p.A. assessed that all directors meet the independence requirements set out in Article 148 of Legislative Decree No. 58/1998, with the exception of the Executive Chairman, the Chief Executive Officer and directors Gianni Bessi and Enrico Di Stasi. The Board also assessed that directors Fabio Bacchilega, Benedetta Brighenti, Roberta Calderisi, Marina Monassi, Francesco Perrini, Paola Schwizer, Bruno Tani, Fabrizio Toselli and Alice Vatta meet the independence requirements set out in the Corporate Governance Code. It should also be noted that, in compliance with the provisions of the Corporate Governance Code, the Board of Statutory Auditors verified that all its members meet the independence requirements, reporting the outcome of these checks to the Board of Directors. The members of the Internal Committees were also appointed: for the “Executive Committee”, the following were appointed: Cristian Fabbri, as Chairman; Tommaso Fabbri, as Deputy Chairman; Orazio Iacono and Vanessa Camani, as members; for the “Control and Risk Committee” (whose composition is the same as that of the Related-Party Transactions Committee) the following were appointed: Paola Schwizer, as Chairwoman; Benedetta Brighenti, Marina Monassi and Francesco Perrini, as members; for the “Remuneration Committee”, the following were appointed: Alice Vatta, as Chairwoman; Fabio Bacchilega, Tommaso Fabbri and Francesco Perrini, as members. Finally, with regard to the "Ethics and Sustainability Committee”, the following were appointed: Tommaso Fabbri, as Chairman; Alice Vatta, Filippo Bocchi and Nicoletta Tranquillo, as members. 2026-05-13 13:34:00 sede-hera-110.jpg

Independence requirements verified for directors and statutory auditors; internal Committees appointed

Online since 13/05/2026 at 13:34

Hera Group's BoD approves results for the first quarter of 2026

The consolidated three-month report as at 31 March shows improved performance and an increase of over 24% in capital expenditures.

Online since 13/05/2026 at 13:07

Hera Group and Saipem launch strategic partnership to support the energy transition and circular economy of Italian industry

A collaboration agreement has been signed to support companies and local areas on their path towards the energy transition and circular economy, through innovative solutions that combine sustainability with competitiveness sede Hera 110x150.jpg centrata Saipem, a global leader in the engineering and construction of major projects in the energy and infrastructure sectors, and Hera Group, one of Italy’s leading multi-utilities, have signed a strategic collaboration agreement, initially lasting three years, with the aim of supporting Italian companies in their energy efficiency, decarbonisation and circular economy journeys. The partnership draws on Saipem’s engineering and technological expertise and Hera Group’s long-standing experience in waste, water and energy services. Both companies share a firm commitment to sustainability and emissions reduction. The agreement between the two organisations aims to support companies and local areas in the energy transition, offering concrete, integrated solutions to reduce emissions, improve consumption efficiency and enhance resource recovery. Particular attention will be paid to the needs of the most energy-intensive industrial sectors, such as ceramics, glass, paper, chemicals, cement, steel and other industries characterised by processes that are difficult to electrify, all of which face an increasingly complex and challenging path towards Net Zero. Through this partnership, Saipem and Hera Group will make their multidisciplinary expertise available, offering a comprehensive portfolio of technologies and integrated solutions for energy efficiency, renewable energy, hydrogen and carbon capture systems. The objective is to identify, on a case-by-case basis, the most effective energy transition pathway from a technical, energy and economic perspective. Interested companies will be able to benefit from a free preliminary audit designed to assess the best possible decarbonisation pathway from an energy and economic standpoint, as well as support in evaluating incentive schemes available at national and European level to help make projects feasible. This represents a concrete contribution across the entire energy transition value chain, a rapidly evolving sector that is increasingly strategic for the competitiveness of the production system. For Saipem, the agreement with Hera Group forms part of its strategy to support the energy transition of the most complex industrial sectors. The partnership enhances the Group’s engineering and technological expertise and its ability to integrate innovative solutions, strengthening Saipem’s role as a technology partner for Italian industry. It also broadens access to solutions for energy efficiency, renewables, hydrogen and CO₂ capture, in line with Saipem’s evolution towards increasingly sustainable business models. This agreement is fully aligned with the path outlined by Hera Group in its Business Plan to 2029, which envisages €3 billion in investments dedicated to the energy transition and circular economy of local areas and businesses. Also moving in this direction is the cutting-edge project for the capture of CO₂ emissions at the Ferrara waste-to-energy plant, proposed by Hera Group as lead partner in collaboration with Saipem. The project was selected in October 2024 to receive funding under the fourth call for mid-scale projects of the EU Innovation Fund, confirming the multi-utility’s commitment to promoting advanced technologies and strategic partnerships to make a concrete contribution to national and European climate targets. Hera Group Hera Group is one of Italy’s largest multi-utilities and operates in the environment, energy and water sectors, with over 10,500 employees. More than 7.5 million citizens receive at least one service provided by the Group. Listed since 2003, it is among the top 40 Italian companies by market capitalisation, is included in the FTSE MIB index and has been part of the Dow Jones Sustainability Index since 2020, recently renamed the Dow Jones Best-in-Class Index. https://eng.gruppohera.it/group_eng/ Saipem Saipem is a global leader in the engineering and construction of major projects in the energy and infrastructure sectors, both offshore and onshore. Saipem is a “One Company” organised into business lines: Asset Based Services, Drilling and Sonsub, Energy Carriers, Offshore Wind and Sustainable Infrastructures. The company has five fabrication yards and an offshore fleet of 17 owned construction vessels and 12 drilling rigs, nine of which are owned. Always focused on technological innovation, the company’s vision is “Engineering for a sustainable future”. For this reason, Saipem is committed every day to supporting its clients on their energy transition journey towards Net Zero, using increasingly digital means, technologies and processes geared towards environmental sustainability. Listed on the Milan Stock Exchange, Saipem operates in more than 50 countries worldwide and employs around 30,000 people of over 130 nationalities. Website: www.saipem.com Download Press release Hera Group and Saipem launch strategic partnership .pdf 2026-05-06 sede Hera 110x150.jpg

Online since 06/05/2026

Hera, a global leader in sustainability: once again at the top of the Dow Jones Best-in-Class Index

The Group, included for the sixth year in both the Dow Jones Best-in-Class Europe and World Indices, confirms its position as the most sustainable Multi & Water Utility at global level. A further recognition that rewards the results achieved and the Group’s approach to creating shared value for all stakeholders. sede Hera 110x150.jpg centrata According to S&P Global, the Hera Group has once again been ranked the world’s leading company in the Multi & Water Utility sector and has been included, for the sixth consecutive year, in the Dow Jones Best-in-Class Index (formerly known as the Dow Jones Sustainability Index), both at European and global level. This result follows an in-depth assessment of performance across environmental, social and governance (ESG) dimensions. The Dow Jones Best-in-Class Index, a leading international stock market index, comprises listed companies demonstrating the highest performance in Environmental, Social and Governance & Economic dimensions. In particular, the multi-utility has reaffirmed its global leadership in its sector, achieving a score of 83/100 compared with a sector average of 37/100. This recognition rewards the quality of the Group’s sustainability reporting, the results achieved by a company that has always been aware of its role within its operating ecosystem, and its strategy of pursuing the creation of shared value for all stakeholders, in line with its purpose. The Group is considered a best practice across multiple areas: In governance, it stands out for the transparency of its reporting, its careful and effective risk management – including cyber risk – and its exemplary ability to manage the supply chain sustainably; In the environmental dimension, it ranks first for the efficient management of energy in its internal processes and for safeguarding biodiversity in the territories in which it operates, and has distinguished itself in particular for its reporting and management of climate change-related risks and opportunities; In the social dimension, it has achieved the highest global score in respect for human rights, the development of its employees’ human capital, customer engagement, data privacy protection and relations with local communities. These assessments confirm the aspects most highlighted by analysts: a company capable of combining economic growth with sustainable development, continuing to generate value for its stakeholders and not only for shareholders. This is also evidenced by a shared value EBITDA, which rose in 2025 to 60% of Group EBITDA (in line with the 2029 target of 68% set out in the business plan), and by an expected double-digit average annual Total Shareholder Return. Listed since 2003 and included in the FTSE MIB since 2019, Hera stock has been part of the Dow Jones Best-in-Class Index Europe & World (formerly the Dow Jones Sustainability Index) and the FTSE4Good Index since 2020, and is also included in the Italian ESG MIB blue-chip index dedicated to best ESG practices. For a decade, the Group has been included in the FTSE Diversity & Inclusion Index Top 100 and, in 2025, reached the global Top 10, according to FTSE Russell certification, in recognition of its commitment to promoting diversity, inclusion and people development. Furthermore, for the past five years it has ranked among the top three companies in the ESG Identity Corporate Index, acknowledging the full and conscious integration of sustainability policies into its governance and business strategies. Download Press release Hera at the top of Dow Jones Best-in-Class Index.pdf 2026-05-04 sede Hera 110x150.jpg

Online since 04/05/2026

29/04/2026

The multi-utility continues on its growth path and value creation for shareholders and local areas served. Executive Chairman Cristian Fabbri and Chief Executive Officer Orazio Iacono have also been reappointed to the Board of Directors for the next three-year term.

Hera Shareholders’ Meeting: 2025 financial statements approved and dividend increased to 16 eurocents. New Board of Directors appointed

Online since 29/04/2026 at 16:29

07/04/2026

sede Hera 110x150.jpg centrata The minority lists containing candidates for the appointment of the Board of Directors and the Board of Statutory Auditors, accompanied by the respective documents required by current norms, registered within the deadline by shareholders in light of the Shareholders Meeting called for 29 April 2026, are available to the public at the Company headquarters, on Hera Group’s website (https://eng.gruppohera.it/group_eng/corporate-governance/shareholders-meetings), and on the authorised storage website 1INFO (www.1Info.it). Download Press release 20260408 Pubblication of minority lists of candidates.pdf 2026-04-08 17:50:00 sede Hera 110x150.jpg

Minority lists for the appointment of the Board of Directors and the Board of Statutory Auditors published

Online since 07/04/2026 at 17:50

07/04/2026

sede Hera 110x150.jpg centrata Kindly note that the folder containing the draft Separate Financial Statements and Consolidated Financial Statements as of 31/12/2025, including the Report of the Board of Statutory Auditors and the Report of the Independent Auditors has been made available to the public at the company headquarters, on the website https://eng.gruppohera.it/ and on the authorised storage platform 1INFO (www.1Info.it). In the same way, the Corporate Governance Report and the Report on Remuneration Policy and Compensation Paid are also available. Download Press release Press release Financial Statements FY2025.pdf 2026-04-07 17:28:00 sede Hera 110x150.jpg

Publication of the Draft Separate and Consolidated Financial Statements as of 31.12.2025, the Corporate Governance Report, and the Report on Remuneration and Compensation Paid

Online since 07/04/2026 at 17:28

27/03/2026

sede Hera 110x150.jpg centrata Kindly note that the following documentation, pertaining to the Shareholders Meeting convened for 29 April 2026, is available to the public at the Company headquarters, on the authorised storage website 1INFO (www.1Info.it) and on Hera Group’s website (https://eng.gruppohera.it/group_eng/corporate-governance/shareholders-meetings): Hera S.p.A. Board of Directors’ Explanatory Report regarding item 2 on the agenda Hera S.p.A. Board of Directors’ Explanatory Report regarding item 3 on the agenda Hera S.p.A. Board of Directors’ Explanatory Report regarding item 4 on the agenda 2026-03-27 11:48:00 sede Hera 110x150.jpg

Publication of documents pertaining to the Shareholders Meeting to be held on 29 April 2026

Online since 27/03/2026 at 11:48

Price sensitive release

Hera Group approves results at 31/12/2025

The year closed with a 4% increase in net profit attributable to shareholders and a 20% rise in investments. Value creation for all stakeholders and a solid capital structure once again confirm the Group’s ability to combine business growth with sustainable development. The proposed dividend increases to 16 euro cents per share, up 6.7%.

Online since 25/03/2026 at 13:01

24/03/2026

sede Hera 110x150.jpg centrata The majority lists of candidates for the appointment of the Board of Directors and the Board of Statutory Auditors, accompanied by the relevant documentation required by the regulations in force, registered within the deadline by shareholders in light of the Shareholders Meeting called for 29 April 2026, are available to the public at Group’s headquarters, in the dedicated section of the company’s website (https://eng.gruppohera.it/group/corporate_governance/shareholders_meetings/) and on the authorised storage mechanism 1INFO, which can be accessed at www.1Info.it. 2026-03-24 09:23:00 sede Hera 110x150.jpg

Majority lists published for the appointment of the Board of Directors and the Board of Statutory Auditors

Online since 24/03/2026 at 09:23

16/03/2026

M&A

The integration further strengthens the multi-utility’s position in both municipal and industrial water treatment, while activating strong commercial synergies with its subsidiary Herambiente. The transaction, with a total value of €138 million, is expected to contribute more than €20 million to the growth of the Hera Group’s EBITDA.

Hera Group finalises the acquisition of the Sostelia Group and becomes Italy’s leading player in water treatment

Online since 16/03/2026 at 12:49

09/03/2026

M&A