#1Ermenegildo Zegna Group CAPITAL MARKETS DAY Oasi Zegna, 17TH May, 2022 17/05/22 Ermenegildo Zegna Group#2DISCLAIMER Non-IFRS Financial Measures 17/05/22 Ermenegildo Zegna Group Zegna's management monitors and evaluates operating and financial performance using several non-IFRS financial measures including: adjusted earnings before interest and taxes ("Adjusted EBIT"), Net Financial Indebtedness/(Cash Surplus) and Capital Expenditure. Zegna's management believes that these non-IFRS financial measures provide useful and relevant information regarding Zegna's financial performance and financial condition, and improve the ability of management and investors to assess and compare the financial performance and financial position of Zegna with those of other companies. They also provide comparable measures that facilitate management's ability to identify operational trends, as well as make decisions regarding future spending, resource allocations and other strategic and operational decisions. While similar measures are widely used in the industry in which Zegna operates, the financial measures that Zegna uses may not be comparable to other similarly named measures used by other companies nor are they intended to be substitutes for measures of financial performance or financial position as prepared in accordance with IFRS. Please see the Non-IFRS Financial Measures on Page 133 for Non-IFRS Measures definitions and reconciliation tables. Forward Looking Statements This communication contains forward-looking statements that are based on beliefs and assumptions and on information currently available to us. In some cases, you can identify forward-looking statements by the following words: "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing," "target," "seek" or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Any statements that refer to expectations, projections or other characterizations of future events or circumstances, including strategies or plans, are also forward-looking statements. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Although we believe that we have a reasonable basis for each forward-looking statement contained in this communication, we caution you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. In addition, risks and uncertainties are described in our filings with the SEC. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Most of these factors are outside our control and are difficult to predict. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us and our directors, officers or employees or any other person that we will achieve our objectives and plans in any specified time frame, or at all. The forward-looking statements in this communication represent our views as of the date of this communication. Subsequent events and developments may cause that view to change. However, while we may elect to update these forward-looking statements at some point in the future, we disclaim any obligation to update or revise publicly forward-looking statements. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this communication. 2#3For Your 17/05/22 SAFONA C T CF4 CA MAXD EET CURRY FIL** ****** FR DO OS EG (5₂ DO DO GREGA DO FA La H FA FF 000 H P FP B E *** E M E TCH THE *** liw AST CHE CAPITAL MARKETS DAY OASI ZEGNA, TRIVERO MAY 17TH 2022 AGENDA 1. GILDO ZEGNA WELCOME, INTRODUCTION AND LONGTERM VISION AND GOALS 2. EDOARDO ZEGNA SUSTAINABILITY STRATEGY: FROM OASI ZEGNA TO SUSTAINABILITY AND ESG COMMITMENTS 3. GILDO ZEGNA THE EZ GROUP INDUSTRIAL EXCELLENCE 4. EDOARDO ZEGNA ZEGNA: WHAT SETS US APART 5. ANGELO ZEGNA ZEGNA: THE RETAIL EXCELLENCE Ermenegildo Zegna Group 6. RODRIGO BAZAN THOM BROWNE :THE ROADTO 2X 7. GIANLUCA TAGLIABUE Q1 UPDATE & GUIDANCE 8. Q&A 3#417/05/22 OUR ROAD TO TOMORROW Ermenegildo Zegna Group#517/05/22 Ermenegildo Zegna Group OUR ROAD TO TOMORROW OUR ROAD BEGAN WITH A VISION AND A DREAM OF A MAN WHO TRANSFORMED IDEAS INTO FABRICS, WEAVING A FOREST, A COMMUNITY AND A NEW STYLE OF LIFE INSPIRED BY THE JOURNEY HE TRAVELED SO FAR, WE MOVE FORWARD ON OUR ROAD TO TOMORROW#617/05/22 OUR ROAD TO TOMORROW THE ROAD AHEAD THAT ZEGNA KEEPS RUNNING ORIGINATED IN 1910, UNWINDING THROUGH ERA DEFINING MILESTONES WHILST POINTING FIRMLY TOWARD WHAT'S NEXT Ermenegildo Zegna Group 6#717/05/22 Ermenegildo Zegna Group OUR ROAD TO TOMORROW SUCH LANDMARKS INCLUDE THE ORIGINATION OF A WOOL MILL THAT TURNED INTO A LUXURY MENSWEAR BRAND ZEGNA, WHICH SPAWNED A WHOLE GROUP, ENCOMPASSING THE BRAND THOM BROWNE; AN UNRIVALLED TEXTILE MANUFACTURING PLATFORM; AN ENVIRONMENTAL PROJECT SET UP EARLY ON, KNOWN AS OASI ZEGNA; LASTLY, THE LISTING OF THE ZEGNA GROUP AT THE NEW YORK STOCK EXCHANGE 7#817/05/22 Ermenegildo Zegna Group OUR ROAD TO TOMORROW THIS ROAD IS OUR INSPIRATION AS IT DEFINES OUR PATH, WOVEN INTO EVERYTHING WE DO FOR OVER 110 YEARS BY ECHOING THE ESSENTIAL TRUTH OF OUR FOUNDER ERMENEGILDO TO WEAVE THE FABRIC OF A TOMORROW THAT FEELS WORTHY OF OUR DREAMS 8#917/05/22 Ermenegildo Zegna Group OUR ROAD TO TOMORROW IS ABOUT _OUR BRANDS _OUR LUXURY TEXTILE LABORATORY PLATFORM _OUR SUSTAINABILITY/ESG AMBITIONS _OUR MEDIUMTERM GOALS 9#1017/05/22 FABRIC IS OUR SUPER POWER THE ESSENTIAL TRUTH OF ZEGNA HAS BEEN WOVEN INTO EVERYTHING WE DO FOR OVER 110 YEARS Ermenegildo Zegna Group IT'S OUR FABRIC WHICH WAS THE BOLD AMBITION OF OUR FOUNDER TO BE A FORCE FOR GOOD IN THE WORLD OUR FABRICTALKS ABOUT OUR CULTURE OF BEAUTY AS FAR AS ZEGNA REMAINS AN INDUSTRIOUS MASTER OF IT WITH AN UNRIVALLED MANUFACTURING LEGACY, AUTHENTICALLY SETTLED AS A FORWARD-LOOKING SIGN OF CREATIVE, TECHNICAL AND SUSTAINABLE INNOVATION 10#1117/05/22 Ermenegildo Zegna Group FABRIC IS OUR NATURE SOURCED FROM ALL OVER THE WORLD WHERE EXCELLENCE IS, WE SHARE OUR FABRICS WITH OTHER BRANDS AND CREATORS AS FAR AS WE ACT AS A PLATFORM FOR THEIR IMAGINATION IN A CONSTANT QUEST FOR CREATIVITY, INNOVATION AND QUALITY FABRIC IS ELEMENTALTO ZEGNA. IT IS OUR HEARTBEAT, OUR PASSION OUR LIFEBLOOD. IT IS IN OUR DNA AS IT PROTECTS US, WARMS US AND COMFORTS US OUR FOUNDER HAD A CLEAR VISION, TO WEAVE THE FABRIC OF A BRIGHTER FUTURE. AND AS WE MOVE FORWARD INTO THIS CENTURY, WE CONTINUE THIS LEGACY, TO WEAVE THE FABRIC OF SOCIETY, CULTURE, AND A NEW STYLE OF LIFE 11#1217/05/22 Ermenegildo Zegna Group EXCELLENCE IS OUR CREDO EXELLENCE IS INSTRUMENTAL IN GENERATING NEW THOUGHT, IN CREATING CONNECTIONS AND DIALOGUE, IN PRODUCING VALUES SHARED COLLECTIVELY AND INTERNATIONALLY EXCELLENCE IS INDEED A DEEP ORGANIC PLATFORM, BEING THE RESULT OF AN ETHOS THAT KEEPS TOGETHER PEOPLE AND ENVIRONMENT, VALUES AND WELLBEING, IN AN AUTHENTIC SYSTEM OF ACTIONS, MINDSETS AND PRODUCTS WITH A RESPONSIBLE SOUL EXCELLENCE IS THE FUELTHAT ULTIMATELY ACTIVATES MOVEMENT ON OUR ROADTOTOMORROW 12#1317/05/22 Ermenegildo Zegna Group OUR ETHIC OF BEAUTY VERTICALLY INTEGRATED AND WITH A WIDENING SPAN OF ACTIVITIES, THE IDENTITY OF ZEGNA IS BASED ON A FEARLESS VISION AND A CONTINUOUS QUEST FOR INNOVATION, FOSTERING BEAUTY AS A VALUE INVESTING IN A CULTURE OF BEAUTY FOR THE BRAND MEANS PROMOTING KNOWLEDGE AND A SOCIAL CAPITAL OF RELATIONS AND TRUST F 13#1417/05/22 Studlo BBCS RESPONSIBILITY IS OUR MINDSET AT THE CORE, WHAT SETS OUR GROUP APART, IS THE VIEW OF THE INDUSTRY AS SOMETHING INTEGRATED INTO THE WIDER SOCIAL SCENARIO, LOCAL AS WELL AS GLOBAL F411 Ermenegildo Zegna Group AT ZEGNA GROUP, RESPONSIBILITY MEANS THAT INDUSTRIAL ACTIVITIES SHOULD NOT HARM THE ENVIRONMENT, TO CREATE A LIFESTYLE WHICH MARCHES TO THE RHYTHM OF THE MODERN TIMES WHILE NURTURING A BOND TO THE NATURAL WORLD FOR A BETTER PRESENT AND FUTURE CLA 14#1517/05/22 Ermenegildo Zegna Group A CROSS-GENERATIONAL MISSION SUCH ATTENTION TO THE WORLD OUTSIDE THE FACTORY IS MANDATORY FOR THE GROUP: THE MISSION, PASSED ON FROM ONE GENERATION TO THE NEXT TOGETHER WITH VISIONARY ENTREPRENEURIAL FINESSE, TO CREATING BEAUTIFUL THINGS OF THE FINEST QUALITY, KNOWING THAT BEAUTY AND ETHICS, WHICH ESSENTIALLY MEANS A RESPONSIBLE APPROACH TO PRODUCTION, SHOULD MATCH IN THIS SENSE SUPERB FABRICS, IMPECCABLE CLOTHING, OUTSTANDING ACCESSORIES, COME TOGETHER PRESERVING A UNIQUE ECOSYSTEM. 15#16A LEADING, MODERN AND INTEGRATED GROUP ZEGNA BRAND: LEADER IN GLOBAL LUXURY MENSWEAR* 17/05/22 ZEGNA SEGMENT LEVERAGINGTHE GROWTH OF LUXURY LEISUREWEAR €847 MILLION REVENUES 66% OF GROUP REVENUES *** ONE OF A KIND MADE IN ITALY LUXURY TEXTILE LABORATORY PLATFORM ONE-OF-A-KIND PLATFORM PRODUCING THE HIGHEST QUALITY FABRICS €102 MILLION REVENUES 8% OF GROUP REVENUES *** €111 MILLION ADJUSTED EBIT AND 10.7% OF REVENUES NOTE: All numbers in this page are for the Financial year ended 31 December 2021 * Refers to Zegna branded products ** Thom Browne Segment *** Revenues refer to their respective product line, net of eliminations; complement to 100% is related to Third Party Brands and other Ermenegildo Zegna Group THOM BROWNE SEGMENT DISTINCTIVE MODERN LUXURY A UNIQUE BRANDWITH BROAD-BASED OPPORTUNITIES €264 MILLION REVENUES ** 20% OF GROUP REVENUES €38 MILLION ADJUSTED EBIT AND14.4% OF REVENUES 16#1717/05/22 KFRRRK XXX THE LUXURY INDUSTRY IS CHANGING Ermenegildo Zegna Group 17#1817/05/22 ZGN LISTED N SE III ZEGNA AND WE CHANGED WITH IT.... OUR ROAD TO TOMORROW NOW AS A PUBLIC COMPANY NEW YORK STOCK EXCHANGE 11 Ermenegildo Zegna Group ildo Zegna Gr LISTED NYSE ZBONA 18#1917/05/22 THE LUXURY INDUSTRY CHANGED: CONSUMERS ARE... A YOUNGER MORE DOMESTIC 2019-2021: WE CHANGED WITH IT ATTRACTING NEW CONSUMERS WHILE CULTIVATING THE LOYALTY OF EXISTING CUSTOMERS FROM FORMAL TO LUXURY LEISUREWEAR Ermenegildo Zegna Group ZEGNA AS ONE BRAND AND THOM BROWNE CRM TOOLS AND LOCAL CLIENT ENGAGEMENT COMMUNICATION AND DISTINCTIVE LOCAL INITIATIVES 19#2017/05/22 THE LUXURY INDUSTRY CHANGED: CONSUMERS ARE... MORE CONNECTED MORE SELECTIVE AND DEMANDING ● ● ● 2019-2021: WE CHANGED WITH IT DEVELOPED A FULLY INTEGRATED OMNICHANNEL APPROACH ACROSS MULTIPLE TOUCHPOINTS DIGITAL AS A SERVICE THE POWER OF DATA ANALYTICS Ermenegildo Zegna Group LEVERAGE ON SUSTAINABILITY DNA AND BOLDLY COMMUNICATE BRAND VALUES DEVELOPING A BRAND COMMUNITY INCREASED PRODUCT CONTENT, QUALITY AND ICONICITY PRICING REPOSITIONING AND REDUCTION OF MARKDOWNS SUPPLY CHAIN INVESTMENTS 20#2117/05/22 COUTTURA WE ARE A 112 YEARS YOUNG COMPANY... ...WITH VAST OPPORTUNITIES AHEAD OF US ● ● ● ● Ermenegildo Zegna Group MARKET SHARE OPPORTUNITY AND UNDERLYING CASUALWEAR AND LEISUREWEAR MARKET GROWTH TO DRIVE A REBALANCING IN GEO MIX FOCUS ON DIRECT DISTRIBUTION AND OMNICHANNEL PRODUCTIVITY OPPORTUNITY IN OUR RETAIL NETWORK ACCELERATE ON DIGITAL LEVERAGE ON DISTINCTIVE STRENGTH (MTM, ICONS, EXCELLENCE) ENHANCED PRODUCT CONTENT TO CONTINUE TO DRIVE REPOSITIONING THOM BROWNE GROWTH STRATEGY 21#2217/05/22 ZEGNA ONE BRAND STRATEGY FOCUSED UNIQUENESS AND DISTINCTIVENESS OF THE BRAND UNDISPUTED AUTHORITY IN MEN CATEGORIES AUTHENTICITY AND QUALITY AS KEY VALUES IDENTIFY AND AMPLIFY ON KEY PILLARS PRICING REFLECTIVE OF PRODUCT QUALITY Ermenegildo Zegna Group 22#2317/05/22 THOM BROWNE HIGH POTENTIAL THOM BROWNE IS A SMALL, ICONIC PLAYER, WITH THE POTENTIAL TO DOUBLE IN THE MID TERM Ermenegildo Zegna Group re 23#24OUR MADE IN ITALY PLATFORM OUR TEXTILE AND MANUFACTURING PLATFORMS TO SUPPORT THIS GROWTH INDUSTRIAL KNOW-HOW & MADE IN ITALY INTERNALIZATION OF CORE COMPETENCES A UNIQUE COMPETITIVE ADVANTAGE MADE IN ITALY OVER 75%* 17/05/22 VERTICAL INTEGRATION CONSOLIDATION AND FURTHER INVESTMENTS HIRING IN ITALY ● INNOVATION DRIVING EXCELLENCE OF MANUFACTURING AND DELIVERIES/SERVICE PRODUCT EXCELLENCE AND QUALITY OF SERVICE SUSTAINABILITY ● ● *Including Ticino Ermenegildo Zegna Group 1101 HIGH 24#2517/05/22 ALA INVESTING IN OUR ASSETS INVESTING IN OUR BRANDS ● STEPPING UP MARKETING INVESTMENTS TO SUPPORT GROWTH INVESTING IN PEOPLE Ermenegildo Zegna Group MADE IN ITALY MANUFACTURING PLATFORM SUPPORTS ITALIAN NET HIRING NURTURETALENTS ACCADEMIA DEI MESTIERI DRIVING INCLUSIVITY: REFUGEES INITIATIVE 25#2617/05/22 INVESTING IN OUR ASSETS INVESTING IN TECHNOLOGY & DISTRIBUTION ● ● ● INVESTING IN INNOVATION ● ● STRENGTHENING OMNICHANNEL CRM AND CLIENTELING CAPABILITIES - Z2C (Zegna To Consumer) ALWAYS UPDATING OUR RETAIL NETWORK &THOM BROWNE FOOTPRINT EXPANSION SOURCING: QUALITY AND TRACEABILITY RECYCLING, CIRCULAR ECONOMY PRODUCT/MATERIALS: Ermenegildo Zegna Group ● USETHE EXISTING MANUFACTURING - STATE OF THE ART INFRASTRUCTURE 26#27SUSTAINABILITY 17/05/22 OUR COMMITMENT TO SUSTAINABILITY OUR LEGACY:TRUE TO OUR ROOTS AND OUR VALUES MADE IN ITALY LUXURY TEXTILE PLATFORM TRACEABILITY CIRCULARITY RENEWABLE ENERGY RESPECT FOR THE WORKFORCE ● ● ● WALK THE WALK: EMBED ESG VALUES IN OUR PRODUCTS OASI AS A SYNONYM OF SUSTAINABILITY OASI CASHMERE ● Ermenegildo Zegna Group 27#2817/05/22 OUR MEDIUM TERM FINANCIAL AMBITION.... 1.3 2021 REVENUES - € BILLION ~2.0 Mid-term ADJ. EBIT AS % OF REVENUES 11.5% 2021 >15.0% Mid-term Ermenegildo Zegna Group 28#2917/05/22 Ermenegildo Zegna Group SUSTAINABILITY STRATEGY: FROM OASI ZEGNA TO SUSTAINABILITY AND ESG COMMITMENTS 29#3017/05/22 OUR ROAD TO TOMORROW 1930: ERMENEGILDO ZEGNA SUSTAINABILITY REPORT A DREAM 1. GIVE LIFE TO A MOUNTAIN 2. BUILD A COMMUNITY AND GIVE BACK 3. CONNECT TO THE WORLD WORDS BECAME REALITY Ermenegildo Zegna Group 1. PLANTED MORE THAN 500,000 TREES 888 2. DEVELOPED OUR HOMETOWN, BUILDING A HOSPITAL, AN ORPHANAGE, AND A SWIMMING POOL 3. BUILT A 26KM ROAD CONNECTING TRIVERO TO THE SURROUNDING AREA ACTIONS Trivero Cer 30#31Importance of selected topics according to Stakeholders - scores 1 to 4 17/05/22 3.8 3.6 3.4 3.2 3.0 2.8 2.6 OUR ROAD TO TOMORROW 2022: WE ASKED OUR STAKEHOLDERS WHAT MATTERS TO THEM Sustainable Finance Remuneration. 2.8 Management of ESG Related risks O Carbon Emissions & Energy MGMT Biodiversity Loss & Deforestation Stakeholder Enagagement Education & Training Board - Level Accountability Of ESG Issues TOP MATERIALS TOPICS Employees Well Being DE&I Packaging & Plastic Pollution Transparency, Reporting & Responsible Communication Sustainability Ambassadorship Circularity, Durability & Eco Design Sustainable Sourcing Community & Philantrophy Water MGMT Animal Welfare Human & Labor Rights Raw Materials Traceability & Chemical MGMT Data Privacy & Cybersecurity 3.0 3.2 Potential Impact of EZ Group on selected topics according to Management - scores from 1 (low) to 4 (high) 3.4 Ermenegildo Zegna Group Governance Social Enviromental 3.6 31#3217/05/22 COMMITMENT 1 OUR ROAD TO TOMORROW OUR COMMITMENTS MADE IN ITALY, TRANSPARENTLY! COMMITMENT 2 WEAVING THE FABRIC OF TOMORROW TRUE TO OUR FOUNDER'S VISION Ermenegildo Zegna Group COMMITMENT 3 OASI, HOME OF OUR VALUES 32#3317/05/22 EGNA SHOMIL mun AND M Ermenegildo Zegna Group OUR ROAD TO TOMORROW OUR COMMITMENTS COMMITMENT 1: MADE IN ITALY, TRANSPARENTLY! WE ARE PROUDLY ITALIAN AND WE COMMITTO HAVING THE MAJORITY OF OUR VALUE CHAIN IN ITALY, MARKING THE CLOTHING WE PRODUCE WITH A "MADE IN" LABEL THAT REFLECTS THE HIGHEST QUALITY AND CRAFTMANSHIP IN THE WORLD WE COMMITTO FURTHER ENHANCETHETRACEABILITY OF OUR RAW MATERIALS AND MANUFACTURING PROCESSES. FROM SHEEP, TO SHOP WE WILL CONTINUE OUR COMMITMENT TO TURN MATERIALS FROM SOURCE TO RESOURCE AND WILL UPDATE OUR #USETHEEXISTING INITIATIVE TO MAXIMIZE WASTE REUSE 33#34OUR ROAD TO TOMORROW COMMITMENT MADE IN ITALY, TRANSPARENTLY! 1 17/05/22 N TRANSPARENCY & TRACEABILITY OF PRODUCTS AND PRODUCTIONS AREAS OF INTERVENTION GOVERNANCE AND SOURCING POLICIES RESPONSIBLE SOURCING AND SUPPLY CHAINS Ermenegildo Zegna Group 34#3517/05/22 FEFFER Ermenegildo Zegna Group OUR ROAD TO TOMORROW OUR COMMITMENTS COMMITMENT 2: WEAVING THE FABRIC OF TOMORROW TRUE TO FOUNDER'S VISION SINCE 1910, WE HAVE CULTIVATED ITALIAN CRAFTSMANSHIP AND KNOW-HOW AND INVESTED IN THE ITALIAN COMMUNITIES. THIS IS ONE OF THE WAYS WE GIVE BACK TO WHO HAS GIVEN US THE MOST, ITALY. WE ALSO WANT TO GIVE BACK TO THE COMMUNITIES WE OPERATE IN, AROUND THE WORLD: FROM THE HEART OF OUR BUSINESS TO THE WORLD AROUND US. ECHOING THE DREAMS OF OUR FOUNDER WE WEAVE THE FABRIC OF A TOMORROW THAT FEELS WORTHY OF OUR DREAMS 35#36OUR ROAD TO TOMORROW COMMITMENT 2 WEAVING THE FABRIC OF A TOMORROW TRUE TO OUR FOUNDER'S VISION 17/05/22 N COLLABORATIONS WITH UNIVERSITIES NGOS AND INSTITUTIONS AREAS OF INTERVENTION DIVERSITY, EQUITY & INCLUSION EMPLOYEES' WELL-BEING RESPONSIBLE FARMING Ermenegildo Zegna Group 36#3717/05/22 Ermenegildo Zegna Group OUR ROAD TO TOMORROW OUR COMMITMENTS COMMITMENT 3: OASI, HOME OF OUR VALUES OASI AS ONGOING ACTIONS OF SUSTAINABLE IDENTITY OASI ZEGNA IS OUR ECOSYSTEM. IT IS A UNIQUE EXAMPLE OF A MAN-GROWN NATURAL TERRITORY WITH A PERFECT BALANCE OF PEOPLE, NATURE, AND WILDLIFE IT ALSO EMBODIES OUR VISION AND A MISSION TO EXTEND OUR ENVIRONMENTAL LEGACY GLOBALLY OUR GOAL IS TO SHOWCASE HUMANITY'S BETTER NATURE, GROUNDED BY A THOUGHTFUL SPIRIT TOTHINK AND ACT RESPONSIBLY, AS AN EXAMPLE COMMITTING PLANT 10K TREES IN EVERY CITY WHERE WE OPEN OR RELOCATE A ZEGNA BOUTIQUE 37#38OUR ROAD TO TOMORROW COMMITMENT 3 OASI, HOME OF OUR VALUES OASI AS ONGOING ACTIONS OF SUSTAINABLE IDENTITY 17/05/22 CLIMATE CHANGE, WATER, CHEMICALS, BIODIVERSITY & PLASTICS AREAS OF INTERVENTION Ermenegildo Zegna Group PRESENCE & ENGAGEMENT WITH LOCAL COMMUNITIES 38#39Note: (*) Wool, Cashmere, Cotton, Leather, Man-made cellulosic, Polyester 17/05/22 COMMITMENT 1: MADE IN ITALY, TRANSPARENTLY! ● ● ● ● ● ● ● ● ● ● TOP PRIORITY* RAW MATERIALS WITH AT LEAST 50% TRACED TO GEOGRAPHY OF ORIGIN AND FROM LOWER-IMPACT SOURCES BY 2026 >90% MADE IN ITALY SUPPLY OF YARNS & FABRICS BY 2025 Ermenegildo Zegna Group PRODUCT RAW MATERIALS TRACKING: >95% OF PRODUCTS ENABLED WITH A PRODUCTTRACEABILITY SYSTEM BY 2030 EXPAND INNOVATIVE #UTE INITIATIVE AND EXPLORE NEW AVENUES FOR REUSE OF INDUSTRIAL WASTE AND PRE-CONSUMER GROUP ANIMAL WELFARE POLICY FORMALIZED BY 2022 AND EMBEDDED IN LOWER-IMPACT RAW MATERIAL CERTIFICATIONS ADOPTION OF AN INNOVATIVE AND OPEN DIGITAL PLATFORM TO ALLOW SUPPLIERS TO SHARE ENERGY SOURCES, WATER, CHEMICALS, PRODUCT CERTIFICATIONS, AND EMISSIONS DATA, COVERING AT LEAST 30% OF EZG SUPPLY VOLUME, BY 2024 BOARD OVERSIGHT OF ESG STRATEGY & IMPLEMENTATION TOP EXECUTIVES LONG TERM INCENTIVES LINKED TO ESG TARGETS BY 2022 TRANSPARENT REPORTING (AUDITED GROUP SUSTAINABILITY REPORT, GRI & SASB REPORTING STANDARD) BY 2022 JOIN RELEVANT TRADE ASSOCIATIONS (UNFCCC, TEXTILE EXCHANGE, SUSTAINABLE FIBER ALLIANCE, ZDHC, LWG) BY 2023 39#40COMMITMENT 2: WEAVING THE FABRIC OF TOMORROW ● ● ● ● ● • KICK-OFF THE "ACCADEMIA DEI MESTIERI" BY 2022 ● DEVELOP A BIODIVERSITY LABORATORY IN OASI ZEGNA, IN COLLABORATION WITH NGOS AND UNIVERSITIES, TO STUDY IMPACT AND ADAPTATION STRATEGIES TO CLIMATE CHANGE FOR ALPINE ENVIRONMENTS ● IMPACT INVESTING ON WOOL, CASHMERE & COTTON RAW MATERIAL SOURCES WITH REGENERATIVE AGRICULTURE AND CARBON SEQUESTRATION INITIATIVES, FROM 2023 ONWARD MAP PRIVATE FORESTS OF THE WORLD, PROMOTE AND LEAD THE RESPONSIBLE PRIVATE FOREST MANAGEMENT ASSOCIATION GLOBALLY APPOINTMENT OF THE DE&I OFFICER & GOVERNANCE TO MANAGE THE DEPLOYMENT OF THE DE&I STRATEGY, BY EARLY-2023 DEVELOP TALENT ACQUISITION & RETENTION APPROACH ACCORDING TO DE&I STRATEGY, TO BECOME EQUAL OPPORTUNITY EMPLOYER, BY 2023 PARENTAL LEAVE BENEFITS EXTENDED TO ALL MARKETS, ABOVE LOCAL LAW REQUIREMENTS, BY 2023 80% EMPLOYEES WITH DE&I TRAINING COMPLETED BY 2023 17/05/22 740 Ermenegildo Zegna Group 40#4117/05/22 COMMITMENT3: OASI, HOME OF OUR VALUES ● CLIMATE CHANGE COMMITMENT WITH SBTI, TARGETS SUBMITTED BY 2022 • 100% ELECTRICITY FROM RENEWABLE SOURCES IN EUROPE & US BY 2024, 100% FOR THE GROUP BY 2027 (SCOPE 2) 100% FULLY ELECTRIC OF PLUG-IN HYBRID CORPORATE VEHICLES BY 2025 (SCOPE 1) ASSESS WATER FOOTPRINT & COMMIT TO REDUCTION TARGETS, ALIGNED WITH SBTN EVOLUTION (INTERNAL PRODUCTIONS BY 2022, EXTERNAL BY 2025) ● ● ● Ermenegildo Zegna Group ● CHEMICAL MANAGEMENT: ZDHC FOUNDATIONAL COMPLIANCE LEVEL (MRSL, WASTE WATERS) FOR ALL GROUP PRODUCTION SITES BY 2023 CONSUMER PACKAGING FROM LOWER-IMPACT MATERIALS (PAPER OR RECYCLED PLASTICS FROM 2022) (DISTRIBUTION PACKAGING BY 2030) AT LEAST 50% CONTENT OF PLASTICS FROM RECYCLING IN B2C PACK-AGING BY 2025 (B2B BY 2030) COMMUNITY SERVICES - 1 DAY/YEAR FOR EVERY EMPLOYEE, TO BE DONATED LOCALLY EXPORT OASI ZEGNA TO THE WORLD: 10K TREES CULTIVATED IN EVERY CITY (MINI ZEGNA FORESTS) WHERE ZEGNA GROUP OPENS OR RELOCATES ZEGNA BOUTIQUES STARTING FROM 2023 41#4217/05/22 INDUSTRIAL EXCELLENCE FROM TRADITION TO INNOVATION AND TECH Ermenegildo Zegna Group 42#4317/05/22 INDUSTRIAL EXCELLENCE OUR UNIQUE STORY OF VERTICAL INTEGRATION FROM SHEEP TO SHOP, FROM MEN TO TERRITORY, FROM FACTORY TO PEOPLE Ermenegildo Zegna Group THIS IS OUR FOUNDER'S ORIGINAL DREAM: A FULLY INTEGRATED STRUCTURE CONNECTING ANIMALS TO HUMANS, THE NATURAL ENVIRONMENT TO LOCAL COMMUNITIES, WITH A CIRCULAR SUPPLY CHAIN 43#4417/05/22 889 INDUSTRIAL EXCELLENCE Ermenegildo Zegna Group FROM TRADITION TO INNOVATION & TECHNOLOGY: OUR UNIQUE STORY OF VERTICAL INTEGRATION WE ARE PROUDLY INDUSTRIAL ● ● ONE-OF-A-KIND CRAFTSMANSHIP (THAT SERVICES OUR OWN BRANDS AS WELL AS MAJOR GLOBAL LUXURY PLAYERS) 44#45SUPPLY CHAIN FOOTPRINT PLANTS AND DISTRIBUTION CENTERS New Jersey Second level distribution centre 4 Textile Plants 7 Finished Products 2 Primary DC 2 Secondary DC 2016 BLUE COLLARS AS OF 31 DECEMBER 2021 17/05/22 Ubertino (Biella) (BI) Lanificio Zegna (BI)_ Mens fabrics San Pietro Mosezzo (NO) Sleeve units Verrone (BI) Knitwear Dondi (MO) Jersey fabrics Cappellificio Cervo (Biella) (BI) Mendrisio (CH) Sleeves units, shirts, trousers Parma Outerwear and leather accessories Ismaco (Istanbul) Shirts Bonotto (VI) Fashion fabrics Finished product plants Fabrics plants Shanghai Second level distribution centre Mendrisio (CH) sleeve units, shirts, trousers Cappellificio Cervo (Biella) Ubertino (Biella) Lanificio Zegna (Biella) Mens Fabric Distribution centers San Pietro Mosezzo (Novara) Sleeve units Ermenegildo Zegna Group Verrone (Biella) Knitwear (2) Parma Outerwear and leather accessories Bonotto (Vicenza) Fashion fabrics Dondi (Modena) Jersey Fabric Ismaco (Instanbul) 123 Shirts 45#46INDUSTRIAL EXCELLENCE ROOTED IN SUPPLY CHAIN CONTROL ZEGNA GROUP SUPPLY CHAIN STRATEGY: FULL CONTROL ON KEY ELEMENTS OF THE CHAIN CONTROL LEVEL IN-HOUSE OUTSIDE RATIONALE *Including Ticino 17/05/22 O DESIGN - INTERNAL PROTOTYPING TO HAVE CONTROL OF PRODUCT COST - QUALITY ALLOWS FOR QUICK REACTION TIME (I.E. CAPSULES) ● ● ● ● ● ● ● ● ● PROTOTYPING/SAMPLES SLEEVE UNITS SHIRTS BELTS KNITWEAR MOST OF SHOES PART OF OUTERWEAR JERSEY SMALL/LARGE LEATHER GOODS TROUSERS LEATHER/TECHNICAL OUTERWEAR ● . ● ● Ermenegildo Zegna Group ● >75% MADE IN ITALY* PRODUCTION SLEEVE UNITS MADE-TO-MEASURE MOST OF KNITWEAR 12 OF SHIRTS MOST OF BELTS MOST OF OUTERWEAR MOST OF LEATHER ACCESSORIES/SHOES JERSEY TROUSERS 1/2 OF SHIRTS INTERNAL PRODUCTION ON: HIGH-END PRODUCTS, SUCH AS CASHMERE OR HIGHER PRICED ITEMS MADE-TO-MEASURE (SERVICE) SLEEVE UNITS, DUE TO UNIQUE KNOW-HOW 46#4717/05/22 INDUSTRIAL EXCELLENCE FROM TRADITION TO INNOVATION & TECHNOLOGY: OUR UNIQUE STORY OF VERTICAL INTEGRATION PROCUREMENT PRIVILEGED PROCUREMENT OF FINEST FIBRES AND FABRICS LONG-STANDING RELATIONSHIPS WITH SUPPLIERS ENHANCEDTRACEABILITY AND QUALITY CONTROL OF THE RAW MATERIALS ● ● Ermenegildo Zegna Group RESEARCH AND INNOVATION STRONG R&D FOCUSED ON INNOVATION AND RESEARCH MANUFACTURING MODULAR APPROACH TO THE MANUFACTURING PROCESS DEPENDING ON PRODUCTION NEEDS FLEXIBLE, CIRCULAR & SUSTAINABLE SUPPLY CHAIN ● ● INTERNAL & EXTERNAL DEMAND ALSO SUPPLIES THIRD PARTIES, FOR BOTH TEXTILES AND FINISHED PRODUCTS (THIRD PARTY BRANDS) VERTICALIZED SUPPLY CHAIN SERVES INTERNAL NEEDS ● 47#4817/05/22 in love TURCHESE INDUSTRIAL EXCELLENCE SUPPLY CHAIN CONTROL AND INDUSTRIAL OPERATIONS EXCELLENCE A KEY COMPETITIVE ADVANTAGE ● ● ● ● ● ● ● QUALITY OF PRODUCTS AND SERVICES PROCESSES CONTROL INNOVATION OF PRODUCT AND PROCESS REDUCTION OF COMPLEXITIES SPEED RELIABILITY Ermenegildo Zegna Group SOURCING AND TRACEABILITY SCALE BENEFITS 48#49INDUSTRIAL EXCELLENCE #UsetheExisting Making the dream of zero waste possible Threads 15% waste 17/05/22 Fabric cut outs 15% waste Garments 15% waste DESIGN ADI 01. Prime Matter #UsetheExisting 03. End of Life "This garment includes natural discarded materials, which have been reused with innovative processes" H 02. Creation Winner of the ADI Design Index 2020 Innovation Award Made-To-Measure The king of services MTM garment in <4 weeks Ultra-fast in 2 weeks in selected stores ~10% of Zegna Branded Products revenues with an efficient business model and no waste From formal to leisurewear & accessories Digitalization of the garment From design, to sampling and customer customization DOLLA Ermenegildo Zegna Group Appuntamento per A CONS 1. SWATCHBOOK 2. PATTERN BASED 3D SAMPLES 3. UPLOAD GARMENTS RENDERING DIGITAL SHOWROOM 4. VIRTUAL FITTING 5. CONSUMER AVATARS 49#50MADE-TO-MEASURE: OUR KEY COMPETITIVE ADVANTAGE ZEGNA MTM/MTO TAILORED JACKETS 17/05/22 OUTERWEAR JERSEY KNITWEAR DENIM LLC SHOES Service Source: Company information Notes: 1. 2 weeks with Ultra Fast 3-4 weeks1 PEER 1 LIMITED 4-7 weeks PEER 2 LIMITED 5 weeks MTM - Made-to-measure MADE-TO-ORDER No change of the morphological measures. The client has the possibility to create is own color combination, change the color of details (like the lining) and sometimes the material. MADE-TO-MEASURE As above but with the possibility to change the measures according to client's morphological measures. PEER 3 LIMITED na MTO Made-to-order PEER 4 LIMITED 6-8 weeks Ermenegildo Zegna Group PEER 5 LIMITED na CONFIDENTIAL 50#5117/05/22 INDUSTRIAL EXCELLENCE INVESTING IN OUR COMPETITIVE ADVANTAGE: CAPEX AND PEOPLE ● ● CONTINUING TO INVEST IN OUR SUPPLY CHAIN AND STRENGTHENING OUR VERTICAL INTEGRATION THROUGH SELECTIVE ACQUISITIONS BIAGIOLI LATEST EXAMPLE, MORE OPPORTUNITIES AHEAD ● EXPANSION OF CAPACITY Ermenegildo Zegna Group ● HEADCOUNT GROWTH IN ITALY ACCADEMIA DEI MESTIERI INVESTING IN SIMPLIFICATION/ REDUCTION OF COMPLEXITY INVESTING IN QUALITY AND SPEED INVESTING IN IMPROVINGTIMETO MARKET AND LEVEL OF SERVICE 51#5217/05/22 WE INNOVATE... MTM ULTRAFAST: 15 DAYS FROM ORDER TO CUSTOMER HANDS N. OF PIECES N. OF STORES 2019 650 SS21 1 SHIRT -26% 2100 FW21 7 8 CATEGORIES OFFERED 2021 PROTOTYPING LEAD TIMES 3000 N. OF DAYS SS22 7 SEASON TO DATE (9 MAY) SLEEVE UNITS -5% 2019 H 2021 ...EFFICIENTLY INDUSTRIAL FIXED COSTS EFFICIENCIES -12% 100 2019 SUPPLIERS RATIONALIZATION 2019 74 2021 2021 85 2022E * *INCREASING NUMBER OF SUPPLIERS FOR THE KILLER CATEGORIES Ermenegildo Zegna Group 52#53SUPPLY CHAIN UPCOMING PROJECTS PROJECT INTERNAL OUTWEAR DEPARTMENT GROWTH LEATHER ACCESSORIES RAW MATERIALS WAREHOUSE CENTRALIZATION LOAFERS REVERSIBLE CONSTRUCTION KNITTING DEPARTMENT UPGRADE NEW WORKSHOP DEDICATED TO COMPLEXITIES AND FAST TRACK SOLAR PANELS INSTALLATION TOTAL 17/05/22 LOCATION PARMA PARMA PARMA VERRONE SAN PIETRO MOSEZZO SAN PIETRO MOSEZZO TARGET INTERNAL PRODUCTION GROWTH TO MEET THE EXPECTED MTM QUANTITIES INCREASE (2X) LOGISTICS PROCESS IMPROVEMENT (FROM 3 REMOTE WAREHOUSES TO 1 LOCAL WAREHOUSE) INSOURCING THE TECHNOLOGY AND THE MAIN PART OF LOAFERS PRODUCTION PROCESS (BETTER QUALITY, MTO PERFORMANCE IMPROVEMENT, COST REDUCTION) NEW KNITTING MACHINERY MIX TO MEET MARKET NEEDS IN TERMS OF FINENESS (OASI CASHMERE, BABY ISLAND) TO CREATE A SMALL DEPARTMENT IN THE FACTORY TO MANAGE PROTOYPING AND SPECIAL PRODUCTS (NEW ZEGNA JACKETS AND THIRD PARTY BRANDS SPECIALS) GREEN ELECTRICITY PRODUCTION WITH MAXIMUM USAGE OF THE ROOFTOP SURFACE. 1.1 MEGAWATT SYSTEM, EQUAL TO 27% OF THE TOTAL CONSUMPTION (YEARLY SAVING OF 0,25 M€) NEW HIRINGS (BC) 18 6 3 14 26 67 Ermenegildo Zegna Group EXPECTED TIMING GO LIVE 4Q 22 GO LIVE 4Q 22 GO LIVE 4Q 22 GO LIVE 4Q 22 GO LIVE 4Q 22 GO LIVE 4Q 22 53#54Established 7/05/22 1910 Acquired Lanificio Zegna Founded by Zegna Group in 1910, specialises in men's fabrics THE MADE IN ITALY LUXURY PLATFORM OUR COMPETENCES ARE ROOTED IN ITALY Established 1932 Acquired 2009 100% Established Tessitura Novara Leader in silk production 1960 Acquired 2012 15% 1 Pettinatura di Verrone Leader in superfine wools, cashmere, vicuna Established 1912 Acquired 2016 60% Bonotto High-end textile manufacturer specialized in furnishing and experimental fabrics Established 1897 Acquired 2018 51% Cappellificio Cervo Hatmaker Established 1970 Acquired 2019 65% Dondi Leader in both men's and women's jersey S Established 1981 Acquired 2021 60% Ermenegildo Zegna Group Tessitura Ubertino Specialises in high-end fabrics for women Established 1967 Acquired 2021 40% Filati Baglioli Modesto Leader in cashmere and manufacturer of carded yarns 54#5517/05/22 THE MADE IN ITALY LUXURY PLATFORM OUR COMPETENCES ARE ROOTED IN ITALY Biella District Lanificio Zegna Tessitura Ubertino Pettinatura di Verrone Pistoia Filati Biagioli Vicenza Bonotto Carpi Gruppo Dondi Ermenegildo Zegna Group 55#56*Revenues net of eliminations 17/05/22 THE BIGGEST TEXTILE LUXURY MANUFACTURING PLATFORM IN ITALY REVENUES OF €102 MILLION* >650 PEOPLE Ermenegildo Zegna Group POTENTIAL FOR BOLT ON ADDITIONS 56#57LANIFICIO ERMENEGILDO ZEGNA WEAVERS OF EXCELLENCE FOUNDED IN 1910 BY ERMENEGILDO ZEGNA, IT IS THE BACKBONE OF THE GROUP GLOBALLY RENOWNED FOR THE UNMATCHED LEVEL OF QUALITY AND UNIQUENESS OF ITS FABRICS FULLY VERTICALLY INTEGRATED, WITH A CENTENNIAL COMMITMENT TO EXCELLENCE AND SUSTAINABILITY COMBINATION OF WELL-TRAINED EMPLOYEES, CRAFTMANSHIP AND CUTTING EDGE TECHNOLOGIES 17/05/22 Trivero Ermenegildo Zegna Group 57#58LANIFICIO ERMENEGILDO ZEGNA OUR PRECIOUS TEXTILES FROM OUR PRECIOUS FABRICS -THE CORE OF OUR PRODUCTS 17/05/22 Cloth Ermenegildo Zegna LANIFICIO LANIFICIO'S COLLECTION INCLUDES FABRICS FOR SUITING AND SOFT ACCESSORIES MADE WITH THE MOST PRECIOUS FIBERS IN THE WORLD TESSITURA DI NOVARA SA TESSITURA di NOVARA ACQUIRED IN 2009, TESSITURA DI NOVARA IS SPECIALIZED IN THE PRODUCTION OF HIGH-END SILK FABRICS. THANKS TO A STRONG ACTIVITY OF R&D, TODAY THE TESSITURA DI NOVARA'S COLLECTION INCLUDES ALSO TECHNICAL FABRICS FOR OUTERWEAR AND FOR AUTOMOTIVE (E.G. MASERATI INTERIORS). Wawa ** CLOTH Ermenegildo Zegna Heritage 196x Wool Ermenegildo Zegna Ermenegildo Zegna Group mite e(13 DEA DIVISION THE WOOL MILL DIVISION SPECIALIZED IN THE STOCK SERVICE. TODAY, DEA DIVISION OPERATES IN 40 FOREIGN COUNTRIES AND SERVES APPROXIMATELY 10.000 TAILORS WORLDWIDE WITHIN THREE DAYS FROM THE ORDER 58#59LANIFICIO BONOTTO THE SLOW FACTORY BONOTTO: UNCONVENTIONAL THINKING WHERE ART AND DESIGN MEET THE INDUSTRY MOSTLY WOMEN'S FABRICS SLOW FACTORY MOVEMENT: A MANIFESTO AGAINST THE INDUSTRIAL STANDARDISATION AND MASS PRODUCTION AT LOW COST HANDCRAFTMASHIP, CREATIVITY AND R&D ARE KEY CREATIVITY ALSO INSPIRED BY THE 24.000 ARTWORKS FROM BONOTTO FOUNDATION COLLECTED INSIDE THE WOOL MILL FROM WOOL TO LYOCELL, FROM VEGAN WOOL TO ORGANIC COTTON. BONOTTO'S COLLECTION IS MADE UP OF MORE THAN 1.000 ARTICLES SUPPLIED TO THE MAJOR FASHION BRANDS THE GREEN SOUL: FROM BOTTLES TO ARTISTIC TAPESTRY 2018 GREEN CARPET FASHION AWARDS WINNER 60% owned 17/05/22 BONOTTO ** Ermenegildo Zegna Group Molvena DREAM Con 59#60GRUPPO DONDI LUXURIOUS KNITTING ITALIAN LEADER IN MANUFACTURING HIGH-QUALITY JERSEY FOR MENS-WEAR AND WOMENSWEAR TOP-QUALITY AND INNOVATIVE PRODUCTS ALMOST 1,4 MILLION MTS PER YEAR OF KNITTED FABRICS PRODUCED WITH OVER 110 CUTTING-EDGE CIRCULAR MACHINES THREE LINES OF PRODUCT: DONDI JERSEY®: MADE WITH PRECIOUS NATURAL FIBERS, EXCLUSIVELY FOR WOMENSWEAR 65% owned 17/05/22 PUNTOTESSILEⓇ: COLLECTION WITH HIGH FASHION CONTENT, ESPECIALLY FOR T-SHIRTS AND KNITTED SHIRTS, FOCUSED ON MILLENIALS AND GEN-Z GRUPPO DONDIⓇ: MADE WITH PRECIOUS FIBERS, THIS COLLECTION IS BOTH FOR MENSWEAR AND WOMENS WEAR AND MAINLY USED FOR SUITING dondi jersey CONT Ermenegildo Zegna Group Carpi 60#61TESSITURA UBERTINO ONE, TWO, TWEED BOUTIQUE MILL DEDICATED FOR MORE THAN 30 YEARS TO THE CREATION OF HIGH-END CREATIVE TWEEDS FOR WOMENSWEAR PRODUCTION IS LIMITED, CUSTOMIZABLE AND OF THE HIGHEST QUALITY FABRICS WOVEN TO PRESERVE THE QUALITY OF THE RAW MATERIAL AND TO ALLOW THE CREATION OF HIGH-END DESIGNS. THE ARTISANS AT TESSITURA UBERTINO CELEBRATE THE ITALIAN TEXTILE TRADITION USING UNIQUE YARNS, SEQUINS, PEARLS, AND TEXTILE TECHNIQUE. USE OF TRADITIONAL LOOMS, JACQUARD LOOMS, KNITTED LOOMS, AND HAND- LOOMS DESIGNED AND CONSTRUCTED IN-HOUSE 60% owned 17/05/22 Trivero Ermenegildo Zegna Group 61#62PETTINATURA DI VERRONE COMBING THE MOST PRECIOUS FIBRES BIGGEST ITALIAN COMBING MILL AND LEADER IN SUPERFINE WOOL FIRST STAGE MANUFACTURING, PROCESSING ALMOST 3.000 TONS OF WOOL EACH YEAR NOT ONLY WOOL: PETTINATURA DIVERRONE PROCESSES AND SUPPLIES THE MOST PRECIOUS ANIMAL FIBERS IN THE WORLD 15% stake. Not consolidated 17/05/22 MERINO WOOL PETTINATURA DI VERRONE MOHAIR LLAMA & GUANACO Verrone VICUÑA Ermenegildo Zegna Group CASHMERE ALPACA 62#63FILATI BIAGIOLI MODESTO IN 2021, ZEGNA GROUP AND PRADA GROUP HAVE ACQUIRED THE MAJORITY SHAREHOLDING IN FILATI BIAGIOLI MODESTO S.P.A., A COMPANY BASED IN MONTALE, PISTOIA, ITALY FOR OVER A CENTURY, IT HAS EXCELLED IN THE PRODUCTION OF CASHMERE AND OTHER NOBLE YARNS AND OFFERED SUPERIORITY IN THE PROCESS OF TRANSFORMING FIBRES, ASSURING PERFECT QUALITY THROUGHOUT THE PRODUCTION PROCESS THE ZEGNA GROUP AND PRADA GROUP SHARE THE SAME VISION FOR THIS PARTNERSHIP IN WHICH KNOW-HOW IS PRESERVED AND VALUE IS CREATED FOR THE CONCEPT OF 'MADE IN ITALY', ALL IN THE NAME OF CRAFTSMANSHIP AND INNOVATION 40% stake. Not consolidated on a line-by-line basis 17/05/22 ww MAFIO Ermenegildo Zegna Group Montale 63#6417/05/22 A SUSTAINABLE LABORATORY PLATFORM OUR CERTIFICATIONS' PORTFOLIO BCI www.bettercotton.org Better Cotton Initiative 0 THE SC Global Recycled Standard RESPONSIBLE WOOL R-W-S STANDARD CERTIFIED Textile Exchange ROADMAP TO ZER content FSC ORGANIC BLENDED standard Associazione Tessile e Salute MOHAIR R-M-S claim RESPONSIBLE RECY STANDARD CERTIFIED Taxille Exchange 100 Standard GLOBAL ORGANIC Ermenegildo Zegna Group 1 TEXTILE GOTS sfa STANDARD 64#65AUTHENTICOⓇ: A TRANSPARENT SUPPLY CHAIN FROM FARM GATE TO WOOL TOPS CERTIFICATION PROTOCOL FOR WOOL FIBER, GUARANTEEING THE FOLLOWING: 17/05/22 ● ● TRACEABILITY FROM GROWER TO WOOL MILL GROWER-CENTRIC PROTOCOL, ALLOWING GROWERS TO BRING INTO THE AUTHENTICO CERTIFICATION ALSO WOOLS ALREADY CERTIFIED UNDER OTHER RELEVANT SCHEMES FAIRWAGES CONDITIONS AT THE FARMER'S SITE ANIMAL WELFARE (ANIMALS' FIVE FREEDOMS AND ESPECIALLY MULESING-FREE), THIRD-PARTY AUDITED ZEGNA WOOL MILL SOURCES 100% OF GREASY WOOL* WITHIN AUTHENTICO PROTOCOL * considering also the wool purchased as yarns, AUTHENTICOⓇ: wool incidence is more than 2/3 of total wool processed by LEZ in a normal year INTEGRITY THE Ermenegildo Zegna Group SCHEME AUTHENTICO SCHNEIDER GROUP 65#6617/05/22 ZEGNA: WHAT SETS US APART Ermenegildo Zegna Group 66#6717/05/22 WHAT SETS US APART CENTRAL PARK, NY 1.3M1² THIS IS OASI ZEGNA 38.6M1² 500,000+ TREES PLANTED SINCE 1910. Ermenegildo Zegna Group 67#68ZEGNA ARE WE THE BEST KEPT SECRET IN LUXURY?#6917/05/22 THE NEW BRAND POSITIONING 1. FROM 3 BRANDS TO ONLY ONE Ermenegildo Zegna COUTURE XXX Ermenegildo Zegna ZEGNA Z ZEGNA Brioni TOM FORD HERMES ZEGNA BERLUTI PARIS CONSERVATIVE 2. NEW BRANDING POSITIONING BRI OORER CUCINELLI (RE)BRANDING LARDINI HERNO ASPESI Ermenegildo Zegna Group SLA Y Dior PRADA THOM BROWNE NEW YORK GUCCI BD². ami Acne Studios FASHION 69#70•THE GROUP'S MAIN REFERENCE MARKET IS LUXURY MENSWEAR AND ACCESSORIES LEISUREWEAR: OUR LONG-TERM OPPORTUNITY GROWTH OF LUXURY MENSWEAR HAS BEEN SUPPORTED BY CASUALWEAR, WHILE FORMAL WEAR HAS BEEN IN STRUCTURAL DECLINE AND HAS NOW STARTED TO STABILIZE POST COVID •ZEGNA HAS SUCCESSFULLY MANAGED THE TRANSITION FROM FORMAL WEAR TO CASUALWEAR Sources: Company information Notes: 17/05/22 ZEGNA LUXURY LEISUREWEAR ZEGNA LEATHER ACCESSORIES ZEGNA FORMALWEAR 1.Shoes, belts, bags and small and large leather goods, Other 2.Based on Zegna Branded Products revenues (including Licensed goods, Royalties and other Zegna Branded Products that, in addition to the above- mentioned categories, are worth ca. 2%/3% on revenues) FROM STATUS... 2016 38% 15% 44% 2019 45% 14% Ermenegildo Zegna Group 38% ...TO COMFORT AT THE FOREFRONT OF THE MODERN MAN - FROM TAILORING TO LEISUREWEAR 2021 50% 15% 33% 70#71ZEGNA BRAND POSITIONING +34% +137% Dimension is a proxy of Searches Volume 17/05/22 Ermenegildo Zegna ZEGNA Zegna Triple Stitch ↓ +82% Zegna jackets Zegna suit Zegna shoes! +129% +75% +45% Ermenegildo Zegna Group THE POSITIVE TREND OF ORGANIC SEARCHES ON GOOGLE REFLECTS THE IMPACT OF ZEGNA'S REBRANDING STRATEGY, STARTED IN Q4 2021: AS A MATTER OF FACT, "ZEGNA" HAS BECOME THE TOP KEYWORD IN 2022, SURPASSING "ERMENEGILDO ZEGNA". THE NEW STRATEGY OF THE BRAND, SWITCHING THE FOCUS FROM FORMAL TO LUXURY LEISUREWEAR, CAN ALSO BE SEEN INTO AN INCREASE OF THE NEW CORE CATEGORIES-RELATED KEYWORDS, SUCH AS "ZEGNA SHOES" ZEGNA JACKETS AND THE ICONIC "ZEGNA TRIPLE STITCH". " Source: Google Data. Last 12 Months (April 2022). Delta % YoY 71#72GROWING BRAND AWARENESS 17/05/22 Google 6 d Ermenegildo Zegna Group 2021 WECHAT FOLLOWER BASE GROWTH : +32% (VS. 2020) ZEGNA BRAND SEARCH ON GOOGLE PLATFORM: +129% (VS. PY) 2021 WEIBO TOTAL ENGAGEMENT GROWTH: +205% (VS. 2020) ZEGNA DOUYIN CHALLENGE 2021 2,5B VIEWS (JUST ON OUTDOOR CAPSULE) Source: Adobe Analytics. Media Platform, Google 72#7317/05/22 ROAD TO... ICONICITY TRIPLE STITCH CASE STUDY Ermenegildo Zegna Group 73#74TRIPLE STITCH CASE STUDY ROAD TO 100MIL 2020 17/05/22 MKT SPEND 2%* *Mkt spend as a % of Triple Stitch yearly Revenues 2021 400% YEAR-ON- YEAR MKT SPEND 2.8%* 2022 Estimate 100% YEAR-ON- YEAR MKT SPEND 5.3%* Ermenegildo Zegna Group 2023 Estimate 100% YEAR-ON- YEAR ESTIMATED MKT SPEND 8%* 74#75Note: Mix of NEW calculated on global revenues during 12past months (May 14° 2021- May 12° 2022) 17/05/22 Ermenegildo Zegna Group TRIPLE STITCH PENETRATION ON NEW CUSTOMERS IS 42% HIGHER THAN AVERAGE 75#76Ermenegildo Zegna Group ROAD TO ICONICITY: BUILDING €100MIL BLOCKS 17/05/22 76#77Ermenegildo Zegna Group ICONS POWER BRAND RECOGNIZABILITY AND PRICING POWER 17/05/22 SS21 +MSD = SS22 FW21 +HSD FW22 77#7817/05/22 ROAD TO ICONICITY: BUILDING €100 MIL BLOCKS TRIPLE STITCH OASI CASHMERE ZEGNA ZEGNA MADE-TO- MEASURE ESSENTIALS OPPORTUNITY Ermenegildo Zegna Group COLLABORATION OPPORTUNITY + 78#79OUR ROAD TO ICONICITY OASI CASHMERE - ROAD TO TRANSPARENCY 17/05/22 13: 13 0 FROM QR CODE TRANSPARENCY TO MONGOLIA Ermenegildo Zegna Group ZEGNA TO ITALY OASI ZEGNA 79#80ESSENTIALS: COMPLEXITY REDUCTION TO ACCELERATE GROWTH ESSENTIAL RETAIL SALES AND SHARE EVOLUTION, FROM 16% IN 2019 TO 32% IN 2022E (35% H2) ZEGNA Note: MTM and Licensing Excluded. DTC only without outlets 17/05/22 16% 84% 2019 ESSENTIAL 32% 68% Ermenegildo Zegna Group 2022 E ESSENTIAL SEASONAL 80#81ICONS AND COLLABS: ENHANCE OUR CORE TO NEW CUSTOMERS IN AN AUTHENTIC WAY ● 17/05/22 ALWAYS AHEAD OF MARKET CHANGES WITH LOWER RISK ENHANCING BRAND VISIBILITY AND AMPLIFIER OF MESSAGES FEEDS POP IN AND POP UPS Ermenegildo Zegna Group ZEGNA ZEGNA.COM 81#8217/05/22 UNIQUE ZEGNA EXPERIENCES WHAT SETS US APART Ermenegildo Zegna Group 82#83THE ZEGNA CLIENTELING APP: EMPOWERING OUR RETAIL TEAMSTO UNLOCK THEIR OMNI-POTENTIAL VIA ZEGNA CLIENTELING APP 17/05/22 2021 USA pilot go-live ZEGNA CLIENTELING APP ZEGNA ● Access omni-channel client information Creation of styling look- books and product selling features Mobile check-out Q1 2022 Global Roll-out PAST 30 DAYS PERFORMANCE as % of Total Boutique Revenues GLOBALLY 29% USA 37% Note: Clienteling revenues calculated as Boutiques sales generated within 30 days from when a customer advisor has made a personal outreach via the proprietary Zegna Clienteling App; period captured here as 30 days previous to May 14 2022 Ermenegildo Zegna Group 83#84ZEGNA STYLING CONFIGURATOR: THE FUTURE OF STYLING AND SERVICE STARTING AS A LABORATORY IN Q42022 AND FULL DEPLOYMENT IN 2023 CREATE NEW LOOKS 17/05/22 S PLAY WITH COLORS AND FABRICS SHOW DIFFERENT CONFIGURATIONS Ermenegildo Zegna Group SEE HIGH QUALITY DETAILS 84#85ZEGNA#8617/05/22 100 RETAIL EXCELLENCE Ermenegildo Zegna Group 86#87CREATE A UNIQUELY RECOGNIZABLE 17/05/22 ZEGNA RETAIL EXPERIENCE OUR GOALS INCREASE THE SPEND OF HIGH POTENTIAL CLIENTS Note: *as per guidance, 2021 boutique plus outlet plus concession productivity to grow by 50% in the medium-term and by 100% in the long term Ermenegildo Zegna Group DOUBLE OUR PRODUCTIVITY IN THE LONG TERM* 87#8817/05/22 THE RELATIONSHIP BUSINESS MODEL 1 BUILDING RELATIONSHIPS VIA CLIENTELING 2 BRINGING RELATIONSHIPS TO THE NEXT LEVEL Ernegildo Zega 500.000+ Trees planted in Oasi Zegna since 1910- 3 Ermenegildo Zegna Group SHAPING ZEGNA'S FUTURE 88#89Ermenegildo Zegna Group WE ARE SOCIAL CREATURES. EVERYTHING STARTS WITH RELATIONSHIPS. 17/05/22 AS A LUXURY BRAND, WE ARE IN THE BUSINESS OF BUILDING RELATIONSHIPS WITH OUR CLIENTS. CLIENTELING ALLOWS US TO BUILD THESE RELATIONSHIPS WITH OUR CLIENTS BEYOND ZEGNA STORES' FOUR WALLS 89#9017/05/22 CLIENTELING AS A PRODUCTIVITY DRIVER CON ESSA 5 °C3 ZEGNA ZEGNA CUSTOMER ADVISOR WITH A ZEGNA CLIENTELING APP ZEGNA Ermenegildo Zegna Group A COMPLETE ZEGNA STORE 90#9117/05/22 WHY CLIENTELING? CUSTOMER ADVISORS ARE BETTER PREPARED FOR UPCOMING APPOINTMENTS IMPROVED BUSINESS PLANNING RESULTING IN STRONGER LOCAL BUSINESS Note: Jan-April 2022, USA for Boutiques SAME STORE FOOTPRINT, INCREASED SALES Ermenegildo Zegna Group SPEND BY CUSTOMER TYPE +50% Ⓡ1 WALK IN SALES PERSON STYLIST 91#922021 17/05/22 PILOT 6 ZE ZEGNA EGNA OUR JOURNEY TO DATE ZEGNA OASI ZRONA, OUR LEGACY CONTINUES 2022 GLOBAL ROLL-OUT 37% OASIA GNA 2022 YTD USA boutique revenues Mid-term FULL POTENTIAL 50% Note: Clienteling revenues calculated as Boutiques sales generated within 30 days from when a customer advisor has made a personal outreach via the proprietary Zegna Clienteling App. Percentages based on respective revenues base Ermenegildo Zegna Group 92#93Note: Jan-April 2022, USA for Boutiques 17/05/22 HOW WE'VE SUCCEEDED SO FAR PEOPLE ° Hiring Compensation + TECHNOLOGY ZEGNA Proprietary Zegna Clienteling App = Ermenegildo Zegna Group OUTPUT 98% Boutique transactions Identified with client profile 93#9417/05/22 THE FOCUS ON BUILDING RELATIONSHIPS GLOBAL NPS +15% GLOBAL NPS 2021 IS PAYING OFF 2020 Note: Net Promoter Score post purchase customer survey ("How likely are you to recommend this boutique to a friend or colleague?"). *% of net promoters 92%* 2021 USA BOUTIQUE > 1200 RESPONDENTS Ermenegildo Zegna Group 94#95THE RIGHT MESSAGE, THE RIGHT PLACE, THE RIGHT TIME 17/05/22 360 SINGLE CUSTOMER VIEW KNOW YOUR CUSTOMER... PREDICTIVE AND PRESCRIPTIVE BEHAVIOR ...ANTICIPATE THEIR "NEEDS" Ermenegildo Zegna Group STYLING CONFIGURATOR ...WITH A PERSONALIZED OFFER 95#9617/05/22 THE RELATIONSHIP BUSINESS MODEL BUILDING RELATIONSHIPS VIA CLIENTELING 2 BRINGING RELATIONSHIPS TO THE NEXT LEVEL 3 Ermenegildo Zegna Group SHAPING ZEGNA'S FUTURE 96#9717/05/22 BUILDING RELATIONSHIPS THROUGH ZEGNA EXPERIENCES THAT MONEY CANNOT BUY 2017-ONGOING CIRCLE 300 * Potential sales from expanding from circle 300 to circle 3000 2021 2022 - "CIRCLE 3000" US pilot Mid-term Ermenegildo Zegna Group FULL POTENTIAL €250M* 97#98WHY? WE SEE A HUGE OPPORTUNITY AT THE TOP OF THE PYRAMID THERE ARE >5,000,000 INDIVIDUALS WHO COULD AFFORD TO SPEND YEARLY >€50K AT ZEGNA ULTRAHNWI USD 30M+ MID-TIER MILLIONAIRES USD5M - USD30M Ermenegildo Zegna Group MILLIONAIRES NEXT DOOR USD1M- USD5M NUMBER OF INDIVIDUALS 2020 0.2M (1% OF TOTAL) 1.9M (9% OF TOTAL) 18.0M (90% OF TOTAL) Note: The wealth bandsare based on HNWI's investable assets, excluding primary residence, collectibles, consumables, and consumer durables; 20,000,000 individuals with >$1M investable assets; assuming share of male and >$2M with ~2% yearly spend on Zegna Source: Capgemini Financial Services Analysis, 2021 17/05/22 98#99WE HAVE THESE RELATIONSHIPS: HOW TO GET MORE? 17/05/22 ● BE WHERE THEY ARE BE PART OF THEIR LIVES THE RICHEST OPLE IN AMERICA The Forbes PO The Definitive Ranking of The Wealthiest Americans In 2021 Editor: Kerry A. Dolan Deputy Editor: Chaus Peterson-Withor and Jennifer Wang Forbes t has been a terrible year for many, but the good times keep on rolling for the nation's richest. The 400 wealthiest Americans saw their collective fortune increase 40% over the last year, to $4.5 trillion. Nearly all are 30% PART OF ZEGNA DATABASE Ermenegildo Zegna Group These U.S. billionaires are 99#100THE RELATIONSHIP BUSINESS MODEL IS SHAPING EVERYTHING WE DO ALY # ECNA 17/05/22 SUP HIRING 62 A CONTENT RUS ME BALIA THE RELATIONSHIP MARKETING BUSINESS MODEL OTHER... LOOM MERCHANDISING REAL ESTATE Ermenegildo Zegna Group CRM 100#10117/05/22 OUR MARKETING STRATEGY:RELATIONSHIP MARKETING 1722 MASS PLAYFULNESS MAKES A MAN Zegna metro Negeed caps m 7P10 SOHO NYC <10% CAPTIVE AUDIENCE FEW ZEGNA Ermenegildo Zegna Group PRIVATE AIRPORT LOS ANGELES 100% CAPTIVE AUDIENCE Frieze art fair + Super Bowl 101#10217/05/22 PRIVATE MEMBERS & SPORTS CLUBS RELATIONSHIP MARKETING IS THE FUTURE OF CLIENT ACQUISITION LUXURY HOTELS & RESTAURANTS HAA PRIVATE AVIATION Ermenegildo Zegna Group FAMILY INVESTMENT FIRMS & TECH FUNDS itti 0176 0381 9003 4928 102#103Note: ZEGNA Boston opened Nov 6, 2021 17/05/22 OUR RETAIL STRATEGY: ONE-OF-A-KIND EXPERIENCES PAST Ermenegildo Zegna SHOPPING MALL "ONE OF MANY" PRESENT ZEGNA 33 33 1 NEWBURY STREET "ONE OF A KIND" Ermenegildo Zegna Group 103#104RELATIONSHIP MODEL RETAIL: HALF THE RENT, 3X THE PRODUCTIVITY MALL Note: ZEGNA Boston opened Nov 6, 2021 17/05/22 SIZE NET SQ. FT -46% 1 NEWBURY ST. MALL RENT -45% 1 NEWBURY ST. FULL PRICE REVENUES MALL Ermenegildo Zegna Group +78% 1 NEWBURY ST. SHARE OF NEW CLIENTS INCREASED BY 66% FULL PRICE PRODUCTIVITY >3x WITH HALF RENT 104#10517/05/22 THE RELATIONSHIP BUSINESS MODEL BUILDING RELATIONSHIPS VIA CLIENTELING 2 BRINGING RELATIONSHIPS TO THE NEXT LEVEL HAB 3 Ermenegildo Zegna Group SHAPING ZEGNA'S FUTURE 105#106Ermenegildo Zegna Group SCALING BEYOND 3000: BEING AN INTEGRAL PART OF EVERY CUSTOMERS' LIVES 17/05/22 EXPECTATION: GOAL: KPI: 2010-2019 CUSTOMER COMES TO YOU HOW CAN WE SELL TO OUR WALK-IN MORE UNITS? CONVERSION RATE 2020-ONGOING WE NEED TO GO TO CUSTOMER CUSTOMER IS NOT COMING ANYMORETO THE STORE. HOW CAN WE ENGAGE WITH OUR CUSTOMER MORE OFTEN? CLIENTELING REVENUES 2022-FUTURE WE NEED TO BE IN OUR CUSTOMERS LIFE HOW CAN WE BE IN OUR CUSTOMER LIFE - MAKE THE BRAND AN EXPERIENCE. IT'S NOT ABOUT SELLING CLOTHING, BUT GIVING CUSTOMERS AN UNEXPECTED EXPERIENCE: SURPRISE AND DELIGHT THEM NPS 106#107HOW FAR CAN WE GO? WILL WE ALWAYS NEED STORES? 17/05/22 GROSS DOMESTIC PRODUCT SELECTED ECONOMIES, 2019 $TRN Gross domestic product Selected economies, 2019, $trn Japan Midwest* Germany Britain The Economist 0 1 2 3 4 5 *Combined gross state product TEASER: WHAT COULD THE IMPACT ON PRODUCTIVITY OF "ZEGNA AT HOME" BE? Ermenegildo Zegna Group 107#108THE OUTCOME: USING THE POWER OF RELATIONSHIPS TO CREATE A UNIQUE ZEGNA RETAIL EXPERIENCE, DRIVING PRODUCTIVITY Productivity = 17/05/22 Traffic x Conversion x Average Ticket Value Net selling sqm Note: *as per guidance, 2021 boutique plus outlet plus concession productivity to grow by 50% in the medium-term and by 100% in the long term Ermenegildo Zegna Group 108#10917/05/22 THOM BROWNE. NEW YORK Ermenegildo Zegna Group 109#11017/05/22 Ermenegildo Zegna Group SOME YEYE BY 110#111KEY MID-TERM GOALS... 17/05/22 Continue on path to double revenues in the mid-term Double number of (end) clients while increasing engagement with our current client base 111#11217/05/22 PRODUCT STRATEGIES... Accelerate the development of women's business (to exceed 40% of total revenues) Grow category business across men's and women's, Focusing on: ● ● ● ● Outerwear Sportswear Shirting Ermenegildo Zegna Group Accessories/footwear Internalize key categories such as eyewear and childrenswear. Both are very profitable, have a proven businesss, and significant growth potential Further develop made-to-measure (men's and women's), fragrance, beauty, and homeware 112#113DIRECT TO CONSUMER (DTC) BUSINESS... CONTINUE THE DTC DEVELOPMENT ANCHORED ON: ● ● 17/05/22 Retail network of 90 to 100 DOS (out of c.150 monobrand stores) by 2026, growing clients faster than stores Maintain our "right-size-store" strategy, to keep strong profitability across the entire retail network Exploring opportunities for conversion into concessions Client value management focus to significantly increase client activity 113#11417/05/22 11 THOU HONE DOMOWE RETAIL EXPANSION... OPPORTUNITIES FOR RETAIL EXPANSION AND BROADER GEOGRAPHICAL COVERAGE ● ● ● ● Ermenegildo Zegna Group Current key markets with strong further potential: North America, China, Korea Japan and Europe/UK are focus area Potential for expansion in southeast Asia and Middle East New retail markets for evaluation: Australia/New Zealand and Latin America 114#115E-BUSINESS... ● 17/05/22 Strong focus on e-business, keeping strong double-digit penetration of our DTC business 115#116E-BUSINESS... ESTABLISH FOCUS FOR EACH STORE FRONT 17/05/22 CLIENT... PRODUCT... MARKETING.... UNIQUE EXPERIENCE... BRAND SITE... LOYAL TO BRAND COMPLETE PRICE RANGE COMPLETE CATEGORY RANGE POSITIONING STYLES (FOR LOYALTY) ENDLESS AISLE BRANDING & COMMUNICATION OMNICHANNEL ELEVATED SERVICES E FLAGSHIP WITH 020 FIT SOLUTION MTO ...E-CONCESSIONS... LIKES BRAND SELECT PRICE RANGE SELECT CATEGORY RANGE ICONIC PRODUCT LIMITED EDITION (FOR VISIBILITY) BRANDING & COMMUNICATION SOCIAL MEDIA LOCALIZED SERVICES PRODUCT EXCLUSIVES 3RD PARTY FEATURES ...SOCIAL COMMERCE... LOYAL TO BRAND COMPLETE PRICE RANGE COMPLETE CATEGORY RANGE LIMITED EDITION (FOR TRAFFIC & REVENUE) BRANDING & COMMUNICATION SOCIAL MEDIA OMNICHANNEL PERSONALIZED SERVICES PRODUCT EXCLUSIVES DIGITAL EXCLUSIVES ENGAGEMENT PROGRAM Ermenegildo Zegna Group CURATED PRODUCT SELECTION AND VISUALIZATION RELEVANCE TO PLATFORM OBJECTIVES OPTIMIZED FEATURES AND CLIENT JOURNEYS 116#117MARKETING... Significantly grow our global brand awareness and achieve 10 times greater visibility through: 1/3 shows, vip/celebrities, and events 1/3 global digital communication and marketing 1/3 local client activations ● ● ● 17/05/22 117#11817/05/22 CLIENT VALUE MANAGEMENT... ● ● ● ● ● Complete the rollout of Salesforce Ensure single client view and efficient customer program Continue to evolve our global and regional client program Target 500 sales associates globally, all digitally connected Increase return business from one-time clients Ermenegildo Zegna Group 118#119E-BUSINESS... ESTABLISH FOCUS FOR EACH STORE FRONT 17/05/22 EMPOWERED DTC SALES WITH SINGLE STOCK VIEW, SINGLE CLIENT VIEW TRANSACTION SINGLE CLIENT VIEW WITH SMART SEGMENTATION AND BEHAVIORAL PERSONAS ANALYTICS CONNECTED SYSTEMS TO DELIVER PERSONALIZED JOURNEYS CAMPAIGN HOLISTIC CLIENT PROGRAM DRIVING LOYALTY AND ENGAGEMENT COMMUNITY CLIENT VALUE MANAGEMENT (CVM) GLOBAL OVERSIGHT - REGIONAL EXPERTISE & EXECUTION Ermenegildo Zegna Group OMNICHANNEL CLIENT SERVICES, LOCALIZED TO SUPPORT SALES AND BRAND SERVICE 119#12017/05/22 CLOSING REMARKS... Ermenegildo Zegna Group 120#12117/05/22 Q1 UPDATE & GUIDANCE Ermenegildo Zegna Group 121#122ENCOURAGING RESULTS FROM PLAN EXECUTION 2021 REVENUES NEARLY BACK TO 2019 LEVELS DTC: STRONG OUTPERFORMANCE, STRONG CUSTOMER RESPONSE TO OUR BRANDS HIGHER QUALITY OF SALES WITH FULL PRICE SELL THROUGH IMPROVING AND LOWER MARKDOWNS DO 2021 GROUP E-COMMERCE REVENUES MORE THAN DOUBLED VS. 2019 STRONG CASH GENERATED WHE ADJ. EBIT AS % OF REVENUES ABOVE 2019 LEVEL AND ONEYEAR AHEAD OF PIANO FUTURO 17/05/22 B www * The Zegna Group's Plan was published at the time of the announcement of the business combination between the Company and Investindustrial Acquisition Corp. ("IIAC"). The Group's Plan was also disclosed in the Company's registration statement on Form F-4 filed with the SEC (File No. 333-259139), under "Certain Unaudited Zegna Prospective Financial Information," the investor presentations made available by the Company and IIAC on July 19, 2021, and on September 21, 2021, and the presentation made available to financial analysts on November 23, 2021. Ermenegildo Zegna Group ME 122#123ENCOURAGING RESULTS FROM PLAN EXECUTION GROUP REVENUES AHEAD OF PLAN* 17/05/22 1.207 2021 Plan* 1.342 2022 Plan* 1.467 2023 Plan* 1.292 2021 A GROUP ADJ. EBIT ONE YEAR AHEAD OF PLAN* 111 9% 2021 Plan* 142 11% 2022 Plan* 173 12% 2023 Plan* 149 11.5% Ermenegildo Zegna Group 2021 A * The Zegna Group's Plan was published at the time of the announcement of the business combination between the Company and Investindustrial Acquisition Corp. ("IIAC"). The Group's Plan was also disclosed in the Company's registration statement on Form F-4 filed with the SEC (File No. 333-259139), under "Certain Unaudited Zegna Prospective Financial Information," the investor presentations made available by the Company and IIAC on July 19, 2021, and on September 21, 2021, and the presentation made available to financial analysts on November 23, 2021. 123#1242022 STARTED WELL-Q1 2022 SALES REVIEW Q1 UNAUDITED GROUP REVENUES BREAKDOWN BY SEGMENT Q1 REVENUES @ 377.6M€, +25.4% COMPARED TO Q1 2021 PUSHED BY STRONG PERFORMANCE IN BOTH ZEGNA SEGMENT (+27.1%) AND THOM BROWNE SEGMENT (+22.3%) 17/05/22 (Euro thousands in Actual FX) GROUP REVENUES ZEGNA SEGMENT THOM BROWNE SEGMENT ELIMINATIONS Q1 2022A UNAUDITED 377,579 283,523 98,128 (4,072) Ermenegildo Zegna Group Q1 2021A UNAUDITED 301,194 223,056 80,219 (2,081) A% vs 2021A Zegna Segment grew +27.1% in actual FX with robust performance in all product lines Thom Browne Segment revenues increased by +22.3% with consistent performance in both DTC and Wholesale channel +25.4% +27.1% +22.3% N.M. 124#1252022 STARTED WELL-Q1 2022 SALES REVIEW Q1 UNAUDITED GROUP REVENUES BREAKDOWN BY GEOGRAPHY UNITED STATES (+97.2%) AND EMEA (+38.9%) MAIN GROUP GROWTH DRIVERS IN Q1 WHILE GCR SLOWDOWN FROM MARCH IS RELATED TO NEW WAVES OF COVID- RELATED RESTRICTIONS GROUP EXCL. GCR GREW +48% VS Q1 2021 ses the Greater 1 For Zegna's reporting China Region includes the Chinese mainland, Hong Kong S.A.R., Macau S.A.R. and Taiwan NOTE: Revenues are after eliminations. NOTE: Q1 21 and Q1 22 revenues are unaudited. 17/05/22 (Euro thousands in Actual FX) GROUP REVENUES EMEA Of Which Italy Of Which UK NORTH AMERICA Of Which United States LATIN AMERICA APAC Of Which Greater China Region¹ Of Which Japan OTHER ● ● ● Q1 2022A UNAUDITED 377,579 134,456 64,091 10,970 61,803 56,933 5,665 174,816 141,980 14,139 839 Ermenegildo Zegna Group Q1 2021A UNAUDITED 301,194 96,812 48,159 5,177 33,381 28,868 2,995 167,259 141,570 12,812 747 A% vs 2021 A +25.4% +38.9% +33.1% +111.9% +85.1% +97.2% +89.1% +4.5 +0.3% +10.4% +12.3% USA +97.2% compared to Q1 21 with a strong rebound in Zegna branded products DTC thanks to the very strong demand for the Zegna brand's new icons and luxury leisurewear collections Also Latin America almost doubling thanks to Zegna DTC EMEA registered a +38.9% revenues increase, with UAE, UK and France over-performing Greater China Region almost flat vs Q1 21 slowing down since March due to new COVID-related restrictions, which reversed the double-digit positive performance recorded until February Other APAC countries growing +27.8% as many countries lifted COVID-19 restrictions 125#1262022 STARTED WELL-Q1 2022 SALES REVIEW Q1 UNAUDITED GROUP REVENUES BREAKDOWN BY PRODUCT LINE ALL PRODUCT LINES GROWING STRONGLY COMPARED TO Q1 2021 TEXTILE AND THIRD PARTY BRANDS ABOVE +50% (Euro thousands in Actual FX) 17/05/22 GROUP REVENUES Zegna branded products¹ Thom Browne Textile Third Party Brands Agnona Other ● ● ● Zegna branded products include apparel, bags, shoes and small and large leather goods, as well as licensed goods and royalties. NOTE: Revenues are after eliminations. NOTE: Q1 21 and Q1 22 revenues are unaudited. Q1 2022A UNAUDITED 377,579 223,979 97,937 30,244 24,402 25 992 Ermenegildo Zegna Group Q1 2021A UNAUDITED 301,194 183,483 80,223 18,378 15,558 139 3,413 Zegna branded products revenues up by +22.1% vs Q1 21, with over-performance in shoes (+42%, sneakers in particular), Luxury Leisurewear (@ 51% of Zegna branded products revenues in Q1 22) and strong rebound of Made-to-Measure (+38%) Thom Browne @ +22.1% vs Q1 21 growing across all channels / gender (Women growing more than Men) Textile Revenues @ +64.6% vs Q1 21 thanks to healthy demand Third Party Brands up by +56.8% vs Q1 21 reflecting strong supplies to our key third-party customers ▲ % vs 2021A +25.4% +22.1% +22.1% +64.6% +56.8% N.M. (70.9%) 126#1272022 STARTED WELL-Q1 2022 SALES REVIEW Q1 UNAUDITED GROUP REVENUES BREAKDOWN BY CHANNEL +23.1% DTC +31.4% WHOLESALE PUSHED BY TEXTILE AND THIRD-PARTY BRANDS BOTH GROWING STRONGLY COMPARED TO Q1 2021 (Euro thousands in Actual FX) 17/05/22 GROUP REVENUES DTC Zegna branded products¹ DTC Thom Browne TOTAL DIRECT to CONSUMER (DTC) Wholesale Zegna branded products¹ Wholesale Thom Browne Wholesale Third Party Brands and Textile Wholesale Agnona TOTAL WHOLESALE OTHER ● ● Q1 2022A UNAUDITED 1 Zegna branded products include apparel, bags, shoes and small and large leather goods, as well as licensed goods and royalties. NOTE: Revenues are after eliminations. NOTE: Q1 21 and Q1 22 revenues are unaudited. 377,579 183,909 34,181 218,090 40,070 63,756 54,646 25 158,497 992 % on Revenue 100% 58% 42% 0% Q1 2021A UNAUDITED 301,194 149,228 27,947 177,175 34,255 52,276 33,936 139 120,606 3,413 Ermenegildo Zegna Group % on Revenue 100% 59% 40% 1% ▲ % vs 2021A +25.4% +23.2% +22.3% +23.1% +17.0% +22.0% +61.0% (82.0%) +31.4% (70.9%) DTC Zegna branded products: growth @ +23.2% vs Q1 21, pushed by EMEA/Americas, and GCR slightly negative due to COVID restrictions since March DTC Thom Browne: growth @ +22.3% vs Q1 21, with strong growth in EMEA, North America and Japan offset by the Covid-19 related restrictions in the Greater China Region Wholesale Zegna branded products/Thom Browne: both growing solidly vs Q1 21 (respectively +17.0% and +22.0%) thanks to strong SS22 deliveries mostly to Western European markets, US and APAC 127#128MONOBRAND ¹ STORE NETWORK AS OF MARCH 31ST 2022 GROUP MONOBRAND STORES @ 526 AS OF MARCH 31ST 2022 OF WHICH 295 DIRECTLY OPERATED # STORES EMEA Americas APAC DTC EMEA Americas APAC Wholesale Total ZEGNA 69 50 125 244 88 73 32 193 437 as of March 31st, 2022 THOM BROWNE 9 5 37 51 5 3 30 38 89 GROUP 78 55 162 295 93 76 62 231 526 as of December 31st, 2021 ZEGNA 69 50 126 245 89 74 32 195 440 THOM BROWNE 9 LO 5 38 52 5 3 30 38 90 GROUP 78 55 164 297 94 77 62 233 530 as of December 31st, 2020 ZEGNA² 71 39 128 238 99 82 31 212 Ermenegildo Zegna Group 450 THOM BROWNE 6 4 28 38 10 3 23 36 74 GROUP 1. Monobrand store count includes our DOSS (which are divided into boutiques and outlets) and our Wholesale monobrand stores (including also monobrand franchisees). 2. As of December 31st 2020, number of Zegna DTC stores were 255 (and 195 Wholesale) reflecting 17 Korean DOSS, which were converted to franchising in Jan-21. For a more homogenous comparison with end-2021, store numbers have been restated accordingly. 17/05/22 77 43 156 276 109 85 54 248 524 128#1292022 GUIDANCE CONFIRMED PREVIOUSLY COMMUNICATED 2022FY GUIDANCE 17/05/22 GREATER CHINA Disruption assumed to ease at end of summer :) US & EMEA Continue to strongly perform (around +30% vs 2021 at Group level, with stronger US and Dubai) KEY ASSUMPTIONS ON 2022 REVENUES RUSSIA/ UKRAINE No further deterioration or geographic extension of the conflict REVENUES Low-teens growth (confirmed) ZEGNA BRANDED PRODUCTS Growing at around 10%, with strong FW 22 wholesale orders and double- digit growth in Made-To-Measure THOM BROWNE Foreseen at around +20% vs 2021 2022 GUIDANCE TEXTILE AND THIRD PARTY BRANDS Good orders (>20% combined vs 2021) E-COMMERCE Growth rate > 2x vs Group's growth rate Ermenegildo Zegna Group BY GEOGRAPHY BY PRODUCT LINE BY CHANNEL OPERATIONS Running at full capacity (good industrial fixed cost absorption) ADJUSTED EBIT Improvement compared to 2021 (confirmed) 129#130ROAD TO 2 BILLION EURO REVENUES KEY DRIVERS STORE PRODUCTIVITY PRICE/MIX INCREASE CATEGORY EXPANSION COLLABS # STORES GEOGRAPHY TEXTILE (i.e. Luxury Laboratory Platform) 17/05/22 ZEGNA SEGMENT GOAL >50% VS 2021 PLANNED FOR FW22, BUT STILL ROOM TO GROW KILLER CATEGORIES, ICONS, MTM LEATHER COLLABS PIPELINE: AT LEAST 3 BY YEAR END ROOM FOR SELECTIVE NET OPENINGS ● READY TO CAPTURE DEMAND OF FABRICS FOR BOTH FORMAL AND LEISUREWEAR THOM BROWNE SEGMENT Ermenegildo Zegna Group ALREADY IN GOOD SHAPE, ROOM FOR IMPROVEMENT IN SOME MARKETS LEATHER, WOMEN, LICENSING N.A. FROM ONLY 51 DOS AS OF MARCH 31ST 2022 TO 90-100 REBALANCING OPPORTUNITY FROM NORTH AMERICA, MIDDLE EAST AND SOUTH EAST ASIA, WITH FOCUS ON LOCALS N.A. 130#131ROAD TO 15% ADJUSTED EBIT ON REVENUES DRIVERS • STORE PRODUCTIVITY (ALSO BY REDUCING NOT-NEEDED SQM) • INCREASING INITIAL MARGIN (DUETO PRICE INCREASE) • OPERATIONAL LEVERAGE, INCLUDING BETTER INDUSTRIAL FIXED COST ABSORPTION ● ● HIGHER INCIDENCE OF CONTINUATIVE ITEMS (AND LOWER LEFTOVER COSTS) ● 17/05/22 ..ALLTHE ABOVE, MORETHAN OFFSETTING THE PLANNED INCREASE OF MARKETING / DEPRECIATIONS COSTS INCIDENCE AMBITIOUS CAPEX SELF-FINANCED WITH POSITIVE CASH SURPLUS 11.5% 2021A Ermenegildo Zegna Group > 15% MIDTERM 131#13217/05/22 Q&A Ermenegildo Zegna Group 132#133NON-IFRS FINANCIAL MEASURES Ermenegildo Zegna Group Zegna's management monitors and evaluates operating and financial performance using several non-IFRS financial measures including: adjusted earnings before interest and taxes ("Adjusted EBIT"), Net Financial Indebtedness/(Cash Surplus), and Capital Expenditure. Zegna's management believes that these non-IFRS financial measures provide useful and relevant information regarding Zegna's financial performance and financial condition, and improve the ability of management and investors to assess and compare the financial performance and financial position of Zegna with those of other companies. They also provide comparable measures that facilitate management's ability to identify operational trends, as well as make decisions regarding future spending, resource allocations and other strategic and operational decisions. While similar measures are widely used in the industry in which Zegna operates, the financial measures that Zegna uses may not be comparable to other similarly named measures used by other companies nor are they intended to be substitutes for measures of financial performance or financial position as prepared in accordance with IFRS. Adjusted EBIT is defined as profit or loss before income taxes plus financial income, financial expenses, exchange losses/(gains), result from investments accounted for using the equity method, impairments of investments accounted for using the equity method, adjusted for income and costs which are significant in nature and that management considers not reflective of underlying operating activities, including, for one or all of the years presented, costs related to the Business Combination, severance indemnities and provision for severance expenses, certain costs related to lease agreements and certain other items. Net Financial Indebtedness/(Cash Surplus) Net Financial Indebtedness/(Cash Surplus) is defined as the sum of financial borrowings (current and non-current), derivative financial instruments and bonds, loans and certain other financial liabilities (recorded within other non-current financial liabilities in the consolidated statement of financial position), net of cash and cash equivalents, derivative financial instruments and certain other current financial assets Capital Expenditure is defined as the sum of cash outflows that result in additions to property, plant and equipment and intangible assets. 17/05/22 133#134NON-IFRS FINANCIAL MEASURES Adjusted EBIT (Euro thousands) (Loss)/Profit for the year Income taxes Financial income Financial expenses Exchange losses/(gains) Result from investments accounted for using the equity method Impairments of investments accounted for using the equity method Costs related to the Business Combination (1) Costs related to lease agreements (2) Severance indemnities and provision for severance expenses (3) Impairment of property, plant and equipment and right-of-use assets (4) Other (5) Adjusted EBIT See explanatory notes on the following slide 17/05/22 Ermenegildo Zegna Group For the year ended December 31, 2021 (127,661) 30,702 (45,889) 43,823 7,791 (2,794) 205,059 15,512 8,996 8,692 4,884 149,115 134#135NON-IFRS FINANCIAL MEASURES Ermenegildo Zegna Group Explanatory Notes (1) Costs related to the Business Combination include: (a) €114,963 thousand relating to share-based payments for listing services recognized as the excess of the fair value of Zegna ordinary shares issued as part of the Business Combination and the fair value of IIAC's identifiable net assets acquired. This amount is related to the Zegna segment; (b) €37,906 thousand for the issuance of 5,031,250 Zegna ordinary shares to the holders of IIAC class B shares to be held in escrow. This amount is recorded within the Zegna segment; (c) €34,092 thousand for transaction costs related to the Business Combination incurred by Zegna, including costs for bank services, legal advisors and other consultancy fees. This amount is related to the Zegna segment; (d) €10,916 thousand for the Zegna family's grant of a one-time €1,500 gift to each employee of the Zegna group as result of the Company's listing on NYSE completed on December 20, 2021. This amount is related to the Zegna segment for €10,120 thousand and to the Thom Browne segment for €796 thousand; (e) €5,380 thousand relating to grant of performance share units, which each represent the right to receive one Zegna ordinary share, the Group's Chief Executive Officer, other Zegna directors, key executives with strategic responsibilities and other employees of the Group, all subject to certain vesting conditions. This amount is related to the Zegna segment for €5,141 thousand and to Thom Browne segment for €239 thousand; (f) €1,236 thousand related to the fair value of private warrants issued, pursuant to the Business Combination, to certain Zegna non-executive directors. This amount is related to the Zegna segment. (g) €566 thousand related to the write-off of non-refundable prepaid premiums for directors' and officers' insurance. This amount is related to the Zegna segment (2) Costs related to lease agreements for the year ended December 31, 2021, are related to Zegna segment and include (i) €12, 192 thousand of provisions relating to a lease agreement in the US following an unfavorable legal claim judgment against the Group, (ii) €1,492 thousand of legal expenses related to a lease agreement in Italy and (iii) €1,829 thousand in accrued property taxes related to a lease agreement in the UK. (3) Zegna incurred costs for severance indemnities of €8,996 thousand. (4) Primarily includes impairments of right-of-use assets for €5,981 thousand and impairments of property plant and equipment for €654 thousand. In particular, the impairment of right-of-use assets and property, plant and equipment primarily relates to the impairment of DOSs of Zegna segment. (5) Other adjustments are related to Zegna segment and include €6,006 thousand related to losses incurred by Agnona subsequent to the Group's sale of a majority stake in Agnona in January 2021, for which the Group was required to compensate the company in accordance with the terms of the related sale agreement, as well as €144 thousand relating to the write down of the Group's remaining 30% stake in Agnona (both of which are recorded within the line item "write downs and other provisions" in the consolidated statement of profit and loss), partially offset by other income of €1,266 thousand relating to the sale of rights to build or develop airspace above a building in the United States (this amount is recorded within the line item "other income" in the consolidated statement of profit and loss). 17/05/22 135