HERA : Announcement of sale of maximum of 25,681,834 ordinary shares of HERA S.P.A.

QUESTO COMUNICATO E QUALSIASI INFORMAZIONE CONTENUTA IN QUESTO DOCUMENTO NON POSSONO ESSERE PUBBLICATI O DISTRIBUITI, DIRETTAMENTE O INDIRETTAMENTE, IN TUTTO O IN PARTE NEGLI STATI UNITI D'AMERICA, CANADA, SUD AFRICA, AUSTRALIA, GIAPPONE O IN UNA QUALSIASI GIURISDIZIONE IN CUI L'OFFERTA E LA VENDITA SAREBBERO VIETATE DALLE LEGGI APPLICABILI. IL PRESENTE COMUNICATO È SOLO A SCOPO INFORMATIVO E NON È DESTINATO AD ESSERE, NÉ COSTITUISCE, UN'OFFERTA DI VENDITA O UNA SOLLECITAZIONE A COMPRARE ALCUNA AZIONE IN NESSUNA GIURISDIZIONE, COMPRESI GLI STATI UNITI D'AMERICA, CANADA, SUD AFRICA, AUSTRALIA, GIAPPONE. QUESTO COMUNICATO STAMPA E QUALSIASI INFORMAZIONE CONTENUTA IN QUESTO DOCUMENTO NON POSSONO COSTITUIRE LE BASI PER, O ESSERE CONSIDERATI IN RELAZIONE AD ALCUNA OFFERTA O IMPEGNO DI QUALUNQUE TIPO IN NESSUNA GIURISDIZIONE

COMUNICATO STAMPA DI AZIONISTI PUBBLICI DI HERA S.P.A.

Comunicato stampa diffuso su richiesta e per conto di n. 13 Azionisti Pubblici di Hera S.p.A.

AVVIATA LA Vendita di MASSIME NUMERO 25.681.834 azioni ordinarie HERA S.P.A.

22 Giugno 2017 - I Comuni di Castelfranco Emilia, Cervia, Cesena, Fiorano Modenese, Formigine, Maranello, Pianoro, Padova, Portomaggiore, San Mauro Pascoli, Sassuolo, Trieste e Rimini Holding S.p.A., azionisti pubblici ('Azionisti Pubblici') di Hera S.p.A. ('Hera' o la 'Società ') aderenti al patto parasociale sottoscritto da n. 118 azionisti di Hera in data 23 giugno 2015, hanno avviato la cessione di massime n. 25.681.834 azioni ordinarie Hera, corrispondenti a circa l'1,7% del capitale della Società, attraverso una procedura accelerata di raccolta ordini riservata ad investitori qualificati in Italia e ad investitori istituzionali all'estero ('Operazione').

Mediobanca - Banca di Credito Finanziario S.p.A., agisce in qualità di Sole Bookrunner dell'Operazione.

Gli Azionisti Pubblici si riservano il diritto di chiudere il collocamento in qualsiasi momento. Gli Azionisti Pubblici daranno comunicazione dell'esito del collocamento al termine dello stesso.

Gli Azionisti Pubblici si sono impegnati con il Sole Bookrunner a non vendere ulteriori azioni Hera per un periodo di 90 giorni, senza il preventivo consenso del Sole Bookrunner come da prassi di mercato.

EQUITA SIM S.p.A. svolge il ruolo di consulente finanziario degli Azionisti Pubblici.

IMPORTANT NOTICE THIS ANNOUNCEMENT IS NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), CANADA, SOUTH AFRICA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION WHERE SUCH AN ANNOUNCEMENT WOULD BE UNLAWFUL. THE DISTRIBUTION OF THIS ANNOUNCEMENT MAY BE RESTRICTED BY LAW IN CERTAIN JURISDICTIONS AND PERSONS INTO WHOSE POSSESSION THIS DOCUMENT OR OTHER INFORMATION REFERRED TO HEREIN COMES SHOULD INFORM THEMSELVES ABOUT AND OBSERVE ANY SUCH RESTRICTION. ANY FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF ANY SUCH JURISDICTION. THIS ANNOUNCEMENT IS NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES AND DEPENDENCIES, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA). THE SECURITIES REFERRED TO HEREIN (THE 'SHARES') HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES WITHOUT REGISTRATION THEREUNDER OR PURSUANT TO AN AVAILABLE EXEMPTION THEREFROM. NEITHER THIS DOCUMENT NOR THE INFORMATION CONTAINED HEREIN CONSTITUTES OR FORMS PART OF AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, SECURITIES IN THE UNITED STATES. THERE WILL BE NO PUBLIC OFFER OF ANY SECURITIES IN THE UNITED STATES OR IN ANY OTHER JURISDICTION. IN MEMBER STATES OF THE EUROPEAN ECONOMIC AREA ('EEA') WHICH HAVE IMPLEMENTED THE PROSPECTUS DIRECTIVE (EACH, A 'RELEVANT MEMBER STATE'), THIS ANNOUNCEMENT AND ANY OFFER IF MADE SUBSEQUENTLY IS DIRECTED EXCLUSIVELY AT PERSONS WHO ARE 'QUALIFIED INVESTORS' WITHIN THE MEANING OF THE PROSPECTUS DIRECTIVE ('QUALIFIED INVESTORS'). FOR THESE PURPOSES, THE EXPRESSION 'PROSPECTUS DIRECTIVE' MEANS DIRECTIVE 2003/71/EC (AND AMENDMENTS THERETO, INCLUDING THE 2010 PD AMENDING DIRECTIVE, TO THE EXTENT IMPLEMENTED IN A RELEVANT MEMBER STATE), AND INCLUDES ANY RELEVANT IMPLEMENTING MEASURE IN THE RELEVANT MEMBER STATE AND THE EXPRESSION '2010 PD AMENDING DIRECTIVE' MEANS DIRECTIVE 2010/73/EU. IN THE UNITED KINGDOM THIS ANNOUNCEMENT IS DIRECTED EXCLUSIVELY AT QUALIFIED INVESTORS (I) WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS FALLING WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005, AS AMENDED (THE 'ORDER') OR (II) WHO FALL WITHIN ARTICLE 49(2)(A) TO (D) OF THE ORDER, AND (III) TO WHOM IT MAY OTHERWISE LAWFULLY BE COMMUNICATED; ANY OTHER PERSONS IN THE UNITED KINGDOM SHOULD NOT TAKE ANY ACTION ON THE BASIS OF THIS ANNOUNCEMENT AND SHOULD NOT ACT ON OR RELY ON IT. THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES OR INVESTMENTS FOR SALE NOR A SOLICITATION OF AN OFFER TO BUY SECURITIES OR INVESTMENTS IN ANY JURISDICTION WHERE SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL. NO ACTION HAS BEEN TAKEN THAT WOULD PERMIT AN OFFERING OF THE SECURITIES OR POSSESSION OR DISTRIBUTION OF THIS ANNOUNCEMENT IN ANY JURISDICTION WHERE ACTION FOR THAT PURPOSE IS REQUIRED. PERSONS INTO WHOSE POSSESSION THIS ANNOUNCEMENT COMES ARE REQUIRED TO INFORM THEMSELVES ABOUT AND TO OBSERVE ANY SUCH RESTRICTIONS. THIS ANNOUNCEMENT HAS BEEN ISSUED BY AND IS THE SOLE RESPONSIBILITY OF THE SELLER.

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, SOUTH AFRICA, CANADA OR JAPAN OR IN ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW. THIS ANNOUNCEMENT IS NOT AN OFFER TO SELL OR A SOLICITATION TO BUY SECURITIES IN ANY JURISDICTION, INCLUDING THE UNITED STATES, AUSTRALIA, SOUTH AFRICA, CANADA OR JAPAN. NEITHER THIS ANNOUNCEMENT NOR ANYTHING CONTAINED HEREIN SHALL FORM THE BASIS OF, OR BE RELIED UPON IN CONNECTION WITH, ANY OFFER OR COMMITMENT WHATSOEVER IN ANY JURISDICTION

PRESS RELEASE OF PUBLIC SHAREHOLDERS OF HERA S.P.A.

Press release issued upon request and on behalf of n. 13 Public Shareholders of Hera S.p.A.

ANNOUNCEMENT OF SALE OF MAXIMUM OF25,681,834ORDINARY SHARES OF HERA S.P.A.

22 June 2017 - The Municipalities of Castelfranco Emilia, Cervia, Cesena, Fiorano Modenese, Formigine, Maranello, Pianoro, Padova, Portomaggiore, San Mauro Pascoli, Sassuolo, Trieste and Rimini Holding S.p.A., public shareholders ('Public Shareholders') of Hera S.p.A. ('Hera' or the 'Company') subscribers of a shareholder agreement signed by n. 118 Hera shareholders on 23 June 2015, announce the sale of maximum n. 25,681,834 Hera ordinary shares equal to approximately 1.7% of the share capital of the Company by means of an accelerated bookbuilding procedure addressed to qualified institutional investors in Italy and institutional investors abroad (the 'Transaction').

Mediobanca - Banca di Credito Finanziario S.p.A. will act as Sole Bookrunner of the Transaction.

Public Shareholders reserve the right to terminate the sale at any time. Public Shareholders will announce the results of the sale only once completed.

The Public Shareholders agreed with the Sole Bookrunner not to sell further shares of Hera for a period of 90 days, without the prior written consent of the Sole Bookrunner.

EQUITA SIM S.p.A. is acting as financial advisor to the Public Shareholders.

IMPORTANT NOTICE THIS ANNOUNCEMENT IS NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), CANADA, SOUTH AFRICA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION WHERE SUCH AN ANNOUNCEMENT WOULD BE UNLAWFUL. THE DISTRIBUTION OF THIS ANNOUNCEMENT MAY BE RESTRICTED BY LAW IN CERTAIN JURISDICTIONS AND PERSONS INTO WHOSE POSSESSION THIS DOCUMENT OR OTHER INFORMATION REFERRED TO HEREIN COMES SHOULD INFORM THEMSELVES ABOUT AND OBSERVE ANY SUCH RESTRICTION. ANY FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF ANY SUCH JURISDICTION. THIS ANNOUNCEMENT IS NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES AND DEPENDENCIES, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA). THE SECURITIES REFERRED TO HEREIN (THE 'SHARES') HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES WITHOUT REGISTRATION THEREUNDER OR PURSUANT TO AN AVAILABLE EXEMPTION THEREFROM. NEITHER THIS DOCUMENT NOR THE INFORMATION CONTAINED HEREIN CONSTITUTES OR FORMS PART OF AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, SECURITIES IN THE UNITED STATES. THERE WILL BE NO PUBLIC OFFER OF ANY SECURITIES IN THE UNITED STATES OR IN ANY OTHER JURISDICTION. IN MEMBER STATES OF THE EUROPEAN ECONOMIC AREA ('EEA') WHICH HAVE IMPLEMENTED THE PROSPECTUS DIRECTIVE (EACH, A 'RELEVANT MEMBER STATE'), THIS ANNOUNCEMENT AND ANY OFFER IF MADE SUBSEQUENTLY IS DIRECTED EXCLUSIVELY AT PERSONS WHO ARE 'QUALIFIED INVESTORS' WITHIN THE MEANING OF THE PROSPECTUS DIRECTIVE ('QUALIFIED INVESTORS'). FOR THESE PURPOSES, THE EXPRESSION 'PROSPECTUS DIRECTIVE' MEANS DIRECTIVE 2003/71/EC (AND AMENDMENTS THERETO, INCLUDING THE 2010 PD AMENDING DIRECTIVE, TO THE EXTENT IMPLEMENTED IN A RELEVANT MEMBER STATE), AND INCLUDES ANY RELEVANT IMPLEMENTING MEASURE IN THE RELEVANT MEMBER STATE AND THE EXPRESSION '2010 PD AMENDING DIRECTIVE' MEANS DIRECTIVE 2010/73/EU. IN THE UNITED KINGDOM THIS ANNOUNCEMENT IS DIRECTED EXCLUSIVELY AT QUALIFIED INVESTORS (I) WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS FALLING WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005, AS AMENDED (THE 'ORDER') OR (II) WHO FALL WITHIN ARTICLE 49(2)(A) TO (D) OF THE ORDER, AND (III) TO WHOM IT MAY OTHERWISE LAWFULLY BE COMMUNICATED; ANY OTHER PERSONS IN THE UNITED KINGDOM SHOULD NOT TAKE ANY ACTION ON THE BASIS OF THIS ANNOUNCEMENT AND SHOULD NOT ACT ON OR RELY ON IT. THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES OR INVESTMENTS FOR SALE NOR A SOLICITATION OF AN OFFER TO BUY SECURITIES OR INVESTMENTS IN ANY JURISDICTION WHERE SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL. NO ACTION HAS BEEN TAKEN THAT WOULD PERMIT AN OFFERING OF THE SECURITIES OR POSSESSION OR DISTRIBUTION OF THIS ANNOUNCEMENT IN ANY JURISDICTION WHERE ACTION FOR THAT PURPOSE IS REQUIRED. PERSONS INTO WHOSE POSSESSION THIS ANNOUNCEMENT COMES ARE REQUIRED TO INFORM THEMSELVES ABOUT AND TO OBSERVE ANY SUCH RESTRICTIONS. THIS ANNOUNCEMENT HAS BEEN ISSUED BY AND IS THE SOLE RESPONSIBILITY OF THE SELLER.