Ermenegildo Zegna N : Zegna Group - Sustainability Report 2023

Sustainability Report 2023

Table of Contents

• Chairman & CEO Letter

• Ermenegildo Zegna Group

8	The Brands
12	Our Filiera
18	Our Activities
19	Key Highlights

1. Our Sustainability Strategy
2. Our Sustainability Commitments

25	Our Stakeholders
30	Our ESG Materiality Assessment

1. Governance & Ethical Commitment
2. Corporate Governance

42	Code of Ethics and Responsible Business Practices
44	Whistleblowing
45	Data Privacy & Cybersecurity

1. Social Commitment
2. Ermenegildo Zegna Group People

51	Diversity, Equity & Inclusion
55	Employee Welfare, Health & Safety
58	Talent Management
64	Group Academy

1. Supply Chain
2. Our Suppliers

71	Raw Material Traceability & Circularity

2

1. Environmental Commitment
2. Climate

91	Packaging & Waste
93	Water
96	Biodiversity

97 Oasi Zegna: Guardians of our local community for over 110 years

1. Zegna Forest
2. Methodological Note

1. Annex

1. GRI Content Index

1. SASB Report

1. SASB Disclosure Index

1. TCFD Disclosure

1. Independent Auditor's Report

3

SUSTAINABILITY REPORT 2023

ERMENEGILDO ZEGNA GROUP

Chairman & CEO Letter

Since our founding in 1910, our commitment to people, community, and nature has been at the core of our journey. We have always believed that the highest quality products come from the highest quality natural resources, and that these resources must be cared for. The Sustainability Report we are issuing today - the third for the Group - is rooted in these simple principles that have guided us yesterday and today and will continue to lead our path tomorrow.

At our Capital Markets Day in December 2023, we shared the next chapter in the Ermenegildo Zegna Group's strategy. We are now home to three authentic, distinctive and complementary brands - ZEGNA, Thom Browne, and TOM FORD FASHION

• and to our unique Filiera: a one of-a-kind textile platform integrated with state-of-the-art industrial know-how, which brings together the best Italian craftsmanship and innovation to ensure excellence and utmost quality. Our Filiera is also one of the primary reasons we continue to be an innovator in the development of sustainable materials and traceability - an area where I am particularly proud of our progress.

In 2023, ZEGNA debuted Oasi Lino, a collection made from 100% certified traceable European linen products by 2024. This same commitment to traceability (and accountability) is mirrored in Oasi Cashmere, the winter collection we introduced last year. Motivated by the possibility of these collections, we are doubling down on our use of certified traceable raw materials, and further integrating the Group's ESG and business strategies.

4

SUSTAINABILITY REPORT 2023

ERMENEGILDO ZEGNA GROUP

We achieved another important sustainability milestone last year: the Science Based Targets initiative (SBTi) approved the Group's net-zero emissions reduction targets. These ambitious targets reaffirm our commitment to address climate challenges and to safeguard our planet for future generations.

I am also proud of the evolution our diversity, equity, and inclusion (DE&I) strategy has undergone in just one year. This year, we focused on making sure everyone was aware of our DE&I policies through our manifesto, which is available to all employees and prominently displayed at all our locations and production sites. As part of our commitment to ensuring everyone within the Group knows the importance of the role they play in maintaining our increasingly inclusive culture, we carried out diversity and inclusion training for more than 80% of our workforce. These are just the first steps on Our Road to Inclusion, and I am confident we will continue to make progress on these important efforts.

I am also particularly proud that in June 2023 we were honored with the United Nations High Commissioner for Refugees (UNHCR) "Welcome. Working for Refugee Integration". This designation underscores our commitment in collaborating with society to provide stable employment opportunities for refugees.

None of these important steps along Our Road would have been possible without the support of our people worldwide; so I would like to thank each and every one of them across the whole Group.

Our Road started in 1910; that's almost 114 years of growth, resilience, transformation, expansion, and success. The values that inspired my grandfather and namesake, Ermenegildo Zegna, still inspire us daily: creativity, authenticity, passion, giving back to our community, accountability, excellence, and entrepreneurship. These are the values that brought us to today. As we face the future and consider the work still ahead of us, these are the values that will pave Our Road to Tomorrow.

Ermenegildo Zegna

Chairman & CEO of Ermenegildo Zegna Group

5

Ermenegildo Zegna Group

6

SUSTAINABILITY REPORT 2023

ERMENEGILDO ZEGNA GROUP

Founded in 1910 in Trivero, Italy, the Ermenegildo Zegna Group (the "Group") is a leading global luxury player, who owns the world-renowned ZEGNA and Thom Browne brands, and operates TOM FORD FASHION1 business through an exclusive long-term license agreement with The Estée Lauder Companies Inc.

At the Group's core is a unique Filiera, a one of-a- kind textile platform integrated with state-of-the- art industrial know-how, which brings together the best Italian craftsmanship and innovation to ensure excellence and utmost quality.

Responsibility towards people, community and the natural world has been at the heart of the Ermenegildo Zegna Group's belief since its founding. As of December 31, 2023, the Group (including Tom Ford Fashion segment) employed 6,925 people2 and had revenues of €1,905 million.

• On April 28, 2023, the Group completed the acquisition of Tom Ford International ("TFI") (the "TFI Acquisition"), through which it acquired the company that owns and operates the TOM FORD FASHION business, as part of a transaction in which sole ownership of the TOM FORD brand, its trademarks, and other intellectual property rights have been acquired by The Estée Lauder Companies Inc. ("ELC"), and TFI has become a long-term licensee of ELC for all TOM FORD men's and women's fashion as well as accessories and underwear, fine jewelry, childrenswear, textile and home design products, for a term of 20 years, subject to renewal at TFI's option for further 10 years subject to certain minimum performance conditions. Please note that Tom Ford Fashion segment is excluded from the 2023 Sustainability Report numbers and indicators, except where explicitly
  mentioned.
  2 The figure does not include 276 temporary employees as of December 31, 2023.

7

The Brands

8

SUSTAINABILITY REPORT 2023

ERMENEGILDO ZEGNA GROUP

ZEGNA

Established as a fabric maker in 1910, ZEGNA has evolved into men's ready-to-wear and is today internationally recognized as a leading global luxury menswear brand.

In more recent years, under the Artistic Direction of Alessandro Sartori, ZEGNA entered an exciting new chapter. Evolving the craft of tailoring in a luxury leisurewear direction is the road Alessandro Sartori follows; reflecting the evolving world while continuing to produce timeless products made with the finest materials. In doing so, the brand's Artistic Director has reset ZEGNA's identity with a clear agenda in which he puts a progressive spin on traditional designs, yet remaining practical and pragmatic to meet the needs of the modern man.

A strong sense of responsibility towards both communities and the natural world has been a driving principle at ZEGNA since its inception. Oasi Zegna3 stands as a living monument to the brand, a home for its enduring values. It is the philosophy embodied by Oasi Zegna that continues to guide all that ZEGNA does and informs the brand's commitment to certifying Oasi Cashmere and Oasi Lino fibers as 100% traceable from 2024.

ZEGNA FW23 collection

• For more information regarding Oasi Zegna, please refer to the "Oasi Zegna: Guardians of our local community for Over 110 years" section of this Report.

9

SUSTAINABILITY REPORT 2023

THOM BROWNE

Thom Browne is widely recognized for challenging and modernizing today's uniform: the suit. By questioning traditional proportions, Thom Browne's designs consistently convey a true American sensibility rooted in superior quality craftsmanship and precise tailoring.

In 2001, Thom Browne began his business with five suits in a small "by appointment" shop in New York City's West Village. In the years following he expanded his business to include complete ready- to-wear and accessories collections for both men (2003) and women (2011). Thom Browne has also become known for his highly conceptual runway presentations, which have gained global attention for their thought-provoking, dramatic themes and settings.

ERMENEGILDO ZEGNA GROUP

Thom Browne has been honored with the CFDA Menswear Designer of the Year Award (2006, 2013, 2016), the GQ Designer of the Year (2008), the FIT Couture Council Award (2017), as well as the Cooper Hewitt National Design Award (2012). His designs are recognized by museums around the world, including the Costume Institute at the Metropolitan Museum of Art, the Museum of Modern Art, the Victoria & Albert Museum, the Costume Museum at Bath and the Mode Museum Antwerpen.

10