Page 1

Ermenegildo Zegna Group STRONG SALES AND PROFITABILITY PERFORMANCE IN THE FIRST HALF OF 2021 REVENUES UP 50 % YOY AT EUR 603 MILLION IN THE FIRST HALF OF 2021 PROFIT FOR THE PERIOD OF EUR 32 MILLION AND ADJUSTED EBIT EUR 67 MILLION PROGRESS CONTINUING The Board of Directors of Ermenegildo Zegna Holditalia S.p.A. ( the " Company " or , together with its consolidated subsidiaries , as the context may require , " Zegna " , " Zegna Group " or the " Group " ) has approved the Company's Unaudited Interim Condensed Consolidated Financial Statements for the six - month period ended June 30 , 2021.1 Revenues of EUR 603.3 million , an increase of 49.9 % compared to the first half of 2020. Currency impact was slightly negative . Broad based strength by region with a particular acceleration in Greater China Region Zegna Segment : Revenue EUR 465.9 million² , an increase of 36.1 % compared to EUR 342.3 million in the first half of 2020 Thom Browne Segment : Revenue EUR 142.6 million³ more than doubled compared to EUR 63.2 million in the first half of 2020 Profit / Loss for the period of EUR 32.2 million , which compares to a EUR 87.8 million loss for the period in the first half of 2020 Profit / Loss for the period attributable to Shareholders of the Parent Company of EUR 28.2 million , which compares to a EUR 86.7 million loss for the period in the first half of 2020 Adjusted EBIT of EUR 66.8 million , or 11.1 % as a percentage of revenues , compared to a loss of EUR 52.0 million in the first half of 2020 Net Financial Indebtedness of EUR 73.3 million at June 30 , 2021 which compares to EUR 6.7 million . at December 31 , 2020 Ermenegildo Zegna , CEO of Ermenegildo Zegna Group , commented : " In the last 18 months we have lived through an unprecedented situation . I am grateful and proud of the resiliency , adaptability and motivation that the Zegna Group and all of our people have demonstrated , embracing challenges and turning them into opportunities . Our enhanced focus on our legacy brand , the strengthening of our luxury textile platform and the dynamic pace of Thom Browne have supported a strong recovery during the first half of this year which has accelerated over the summer . While the public health situation remains uncertain globally , we are ready to face the coming months with enthusiasm , focusing on the implementation of the Zegna ONE BRAND strategy . We will continue to invest in creativity , innovation , talent , and technology in order to sustain the Zegna Group's leadership position in the global luxury market . " *** 1 ¹ Throughout this press release , figures are rounded to the first decimal place 2 Before inter - segment elimination of EUR 4.8 million in the first half of 2021 and EUR 2.9 million in the first half of 2020 ³ Before inter - segment elimination of EUR 0.3 million in the first half of 2021 and EUR 0.2 million in the first half of 2020