Zegna Investor Day Presentation Deck

ROAD 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

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