Zegna Results Presentation Deck

FY 2022 NET FINANCIAL INDEBTEDNESS / (CASH SURPLUS) ● ● €122.2 million Cash surplus* on December 31, 2022, down 16% from €144.6 million at December 31, 2021; with the decline a result of, among others €26 million in dividends ^ €73.3 million in Capital Expenditures - mostly on the store network €41.3 million from higher Trade Working Capital* €33 million in real estate settlements Inventory up 21% y-o-y to € 411 million on December 31, 2022 Planned increase to secure raw materials and Essential ZEGNA One Brand products ● ● ● ● April 6, 2023 Disruptions in the GCR in the fourth quarter Anticipated reopening in the GCR is presenting an opportunity to capture improved demand with a ready inventory of core products Trade Working Capital (€ millions) 21.3% on sales €276 million 338 160 -223 2021 Ermenegildo Zegna Group ■Trade receivables 21.2% on sales. €317 million 411 177 -271 2022 Inventories ■Trade payables & customer advances ^ Including dividends paid by entities of the Group participated by minorities Please see pages 20 to 32 for Non-IFRS Financial Measures and definition and reconciliation of such non-IFRS measures to the most directly comparable IFRS measures 16

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