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Press Release
ACEA, CLARIFICATIONS REGARDING THE HALF-YEAR DATA AS OF JUNE 30 , 2026
Rome, 9 September 2026 – Acea S.p.A. (“Acea”), further to the announcement made on 23 July 2026 regarding the approval of the results for the first half of 2026, announces that certain financial and economic data reported in the consolidated income statement and in the consolidated cash flow statement as of 30 June 2026 , already included in the press release of 23 July 2026 , have been reclassified to better reflect the accounting effects of the disposal of the equity interest in Acea Energia and the 50% stake in Umbria Energy.
It is clarified that the reclassifications do not result in any changes to EBITDA, Operating Result, Net Financial Position, Net Result attributable to the Group and non -controlling interests, Shareholders' Equity and cash flows in the consolidated cash flow statement regarding reported, pro forma, or organic data previously submitted and attached to the press release dated July 23, 2026.
The reclassifications concern:
i) the gain realized upon the disposal of the equity investment in Acea Energia and the 50% stake in Umbria Energy, moving it from the consolidated income statement line “ Profit /(Loss ) on investments” to the line “ Net Profit /(Loss) from discontinued operations” ;
ii) the cash flow relating to the aforementioned disposal, from the consolidated cash flow statement line “Disposal of companies (or business divisions) ” to the line “Cash flow from investing activities attributable to discontinued operations ”.
Below are the consolidated income statement and consolidated statement of cash flows as of June 30, 2026 , previously included in the press release dated July 23, 2026 , updated to reflect the aforementioned reclassifications.
The half -yearly financial report will be made available as soon as possible in accordance with the terms and conditions set forth by applicable legislation.
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CONSOLIDATED INCOME STATEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2026
€000
30 June 2026 Discontinued Effects 30 June 2026 Proforma 30 June 2025 Discontinued Effects 30 June 2025
Proforma
Revenues from electricity sales and services 465,175 10,980 476,155 444,961 63,028 507,989 Revenues from gas sales 12,471 0 12,471 12,753 (1,428) 11,325 Revenues from electricity incentives 6,602 0 6,602 6,495 0 6,495 Revenues from integrated water services 664,884 0 664,884 639,660 0 639,660 Revenues from overseas water management 47,660 0 47,660 47,204 0 47,204 Revenues from waste delivery and landfill management 113,240 0 113,240 119,431 0 119,431 Revenues from customer services 117,688 5,114 122,802 89,903 93 89,996 Connection fees 14,991 532 15,523 13,345 251 13,596 Revenues from sustainable development 2,040 0 2,040 1,420 0 1,420 Sales and service revenues 1,444,751 16,626 1,461,378 1,375,171 61,944 1,437,115 Other operating income 92,744 526 93,270 86,513 211 86,724 Consolidated net revenues 1,537,495 17,152 1,554,648 1,461,684 62,155 1,523,839 Staff costs (176,807) 0 (176,807) (160,176) (1,176) (161,352) Energy, gas, fuels (261,569) (938) (262,508) (211,448) (54,434) (265,882) Materials (63,678) 0 (63,678) (54,985) (3) (54,988) Services and contracts (245,529) (3,475) (249,004) (239,392) (2,908) (242,300) Concession fees (39,809) 0 (39,809) (33,458) 0 (33,458) Use of third -party assets (24,054) 0 (24,054) (24,161) (115) (24,275) Sundry operating costs (30,183) 96 (30,087) (29,430) (78) (29,508) Cost of materials and overheads (664,823) (4,318) (669,141) (592,875) (57,538) (650,413) Consolidated operating costs (841,630) (4,318) (845,948) (753,051) (58,714) (811,765) Profit/(loss) on non -financial investments 12,253 0 12,253 22,726 0 22,726 Net profit/(loss) from commodity risk management 0 0 0 0 0 0 Gross Operating Profit 708,118 12,835 720,953 731,359 3,441 734,800 Amortisation and Depreciation (343,073) 0 (343,073) (311,653) (1,450) (313,102) Provisions (7,567) 0 (7,567) (3,195) 0 (3,195) Net impairment losses/(reversals of impairment losses) on trade receivables (31,900) 0 (31,900) (38,949) (5,132) (44,081) Amortisation, Depreciation and Write -downs (382,540) 0 (382,540) (353,796) (6,582) (360,378) Operating Profit/(Loss) 325,579 12,835 338,413 377,562 (3,141) 374,422 Finance income 10,116 348 10,464 15,600 (1,000) 14,599 Finance costs (79,506) (594) (80,100) (78,893) (2,643) (81,536) Financing Activities (69,391) (245) (69,636) (63,293) (3,643) (66,936) Profit/(Loss) on investments * 3,747 0 3,747 261 0 261 Profit/(Loss) before tax 259,935 12,589 272,524 314,530 (6,784) 307,747 Income tax expense (93,089) 0 (93,089) (97,693) 1,548 (96,145) Net Profit/(Loss) from continuing operations 166,846 12,589 179,436 216,837 (5,236) 211,602 Net Profit/(Loss) from discontinued operations * 305,568 (12,589) 292,978 32,972 5,236 38,207 Net Profit/(Loss) 472,414 0 472,414 249,809 0 249,809 Net Profit/(Loss) attributable to non -controlling interests 17,960 0 17,960 23,192 0 23,192 Net Profit/(Loss) attributable to the Group 454,454 0 454,454 226,617 0 226,617
* The capital gain realized from the disposal of the equity interest in Acea Energia and the 50% stake in Umbria Energy , amounting to €260,856 thousand , has been reclassified from the line “ Profit/(Loss) on investments ” - which stood at €264,603 thousand in the statement previously submitted and attached to the press release - to the line “ Net Profit/(Loss) from discontinued operations ”, which stood at €44,711 thousand in the statement previously submitted and attached to the press release.
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CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED 30 JUNE 2026
€000
30 June 2026 30 June 2025 Increase/(Decrease) Profit before tax * 259,935 314,530 (54,595) Amortisation, depreciation and impairment losses 343,073 311,653 31,420 Income/(losses) from equity investments * (16,000) (22,987) 6,987 Change in provision for liabilities and charges 4,208 (10,944) 15,152 Net change in staff termination benefits (2,015) (3,205) 1,191 Net financial income/(costs) 68,624 62,106 6,518 Cash flow from operating activities before changes in working capital 657,826 651,153 6,672 Provision for bad debts 31,900 38,949 (7,049) Increase/Decrease in receivables included in current assets (148,027) (240,065) 92,038 Increase/Decrease in payables included in current liabilities (20,083) 12,585 (32,668) Increase/Decrease in inventories (3,946) (19,592) 15,646 Income tax paid (72,424) (52,003) (20,421) Change in working capital (212,580) (260,126) 47,546 Change in other operating assets/liabilities 66,915 34,514 32,401 Operating cash flow from discontinued operations 0 62,283 (62,283) Cash flow from operating activities 512,161 487,825 24,336 Purchase/sale of property, plant and equipment and intangible assets (662,548) (600,442) (62,106) Investments in companies (or business divisions) (190,527) (17,038) (173,488) Disposal of companies (or business divisions) ** 0 0 0 Amounts received from/paid for other financial investments (14,170) 16,207 (30,377) Dividends received 189 4,371 (4,182) Interest received 10,098 15,363 (5,265) Cash flow from investing activities attributable to discontinued operations ** 432.146 (150,558) 582,704
TOTAL CASH FLOW FOR INVESTING ACTIVITIES (424,812) (732,098) 307,286
New long -term financial borrowings 55,000 125,000 (70,000) Repayment of financial borrowings (34,256) (170,135) 135,878 Reduction/increase in other financial borrowings (18,756) 258,056 (276,812) Interest paid (76,078) (73,836) (2,243) Dividends paid (193,933) (153,054) (40,879) Cash flow from financing activities attributable to discontinued operations 0 87,723 (87,723)
TOTAL CASH FLOW FOR FINANCING ACTIVITIES (268,023) 73,755 (341,779)
0
CASH FLOW FOR THE PERIOD (180,674) (170,517) (10,156)
Net cash and cash equivalents at beginning of period 625,399 501,862 123,537 Cash and cash equivalents at beginning of period attributable to discontinued operations 0 (6,449) 6,449 Cash and cash equivalents from acquisitions 25,430 1,000 24,430 Cash and cash equivalents at end of period attributable to discontinued operations 0 (7,000) 7,000
CASH AND CASH EQUIVALENTS AT END OF PERIOD 470,156 332,897 137,259
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* The capital gain realized from the disposal of the equity interest in Acea Energia and the 50% stake in Umbria Energy, amount ing to €260,856 thousand, has been reclassified from the line “Profit/(Loss) on investments ” to the line “Net Profit/(Loss) from discontinued operations ”. This change affected the line “Profit before tax” - which stood at €520, 791 thousand in the schedule previously sent and attached to the press release
- and the line “Income /(losses) from equity investments” - which was a negative €276,857 thousand in the schedule previously sent and attached to the press release.
** In accordance with the aforementioned amendment, the cash flow from investing activities relating to the disposal transaction has been reclassified from the line “ Disposal of companies (or business divisions) ” - which in the statement previously submitted and attached to the press release amounted to €432,146 thousand - to the line “ Cash flow from investing activities attributable to discontinued operations ” - which in the statement previously submitted and attached to the press release was zero.
The Executive Responsible for Financial Reporting, Pier Francesco Ragni, declares, pursuant to section two of Article 154 -bis of the Consolidated Finance Act, that the information contained in this release is consistent with the underlying accounting recor ds.
ACEA Group Contacts
Investor Relations
Tel. +39 0657991 investor.relations@aceaspa.it
Press Office
Tel. +39 0657997733 ufficio.stampa@aceaspa.it Corporate Website: acea.it