Zegna Investor Day Presentation Deck

CAPITAL MARKETS DAY INVESTING TO FUEL AND SUSTAIN THE MEDIUM-TERM GROWTH TRAJECTORY OF TOM FORD FASHION CAPEX Significant investments in 2024 and 2025 to set the foundation for medium-term expected Top Line growth • Planned reinforcement of TOM FORD FASHION retail network through renovations (~40% of total retail Capex) and new openings (~ 60% of total retail Capex), mainly in EMEA and APAC • Consistent investments also foreseen to strengthen corporate structure ● TOM FORD FASHION OPEX • TOM FORD FASHION expected to continue investing in brand equity to sustain and secure the positioning OPEX to include royalties ● P 05.12.23 46

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