Ermenegildo Zegna Group Records Double-Digit Revenue Growth in Q2 2026 With Accelerating DTC Momentum1

Q2 2026 Group revenues increased +10.3% year‑on‑year (YoY) to €517.1 million and +11.0% on an organic basis, reflecting sequential acceleration across all brands, with ZEGNA leading the Group’s performance. By Brand: ZEGNA brand revenues rose to €324.3 million up +16.9% YoY and +16.5% organic. Thom Browne revenues were in line with Q2 2025, with a +2.7% organic growth, while TOM FORD FASHION grew +4.5% YoY and +7.1% organic. By Channel: DTC grew to €410.9 million, +16.4% YoY and +17.3% organic, with all three brands delivering double-digit growth, reflecting the Group's strategic decision to prioritize a retail-first business model and direct customer engagement. By Geography: all regions delivered solid growth, led by the Americas, with Greater China Region further strengthening in the quarter. H1 2026 Group revenues reached €987.3 million, +6.4% year‑on‑year (YoY) and +9.3% on an organic basis.2 MILAN--(BUSINESS WIRE)--Ermenegildo Zegna N.V. (NYSE:ZGN) (the “Company” and, together with its consolidated subsidiaries, the “Ermenegildo Zegna Group” or the “Group”) today announced unaudited revenues of €987.3 million in H1 2026, +6.4% YoY from €927.7 million in H1 2025 (+9.3% organic). In the second quarter, revenues reached €517.1 million, +10.3% YoY (+11.0% organic). Ermenegildo “Gildo” Zegna, Executive Chairman of the Ermenegildo Zegna Group, commented: “I am particularly proud to report 11% organic growth in the Group’s revenues in the past quarter, with sequential acceleration across all our brands. This performance reflects the strength of our client-centric model, with Direct-to-Consumer revenues up 17% organically in the quarter and all brands delivering double-digit growth. ZEGNA continued to deepen client engagement with a milestone VILLA ZEGNA event in Los Angeles in June, following a model developed over time on an authentic legacy and supported by our unique Italian Filiera. I am equally encouraged by the performance of Thom Browne and TOM FORD FASHION. Their results confirm that the actions underway follow the right trajectory, although we are conscious that it is still the beginning of the journey and we must remain patient to see progress over time. As we move through the rest of the year, we remain determined and disciplined to invest in the right priorities to deliver on our ambitions.” ____________________ 1 Throughout this press release, revenues for the second quarter of 2026 and 2025 and for the first half of 2026 and of 2025 are unaudited. 2 Revenues on an organic growth basis (organic or organic growth) and on a constant currency basis (constant currency), are non-IFRS financial measures. Constant currency growth is calculated excluding foreign exchange. Organic growth is calculated excluding (a) foreign exchange and (b) acquisitions & disposals. Please see the non-IFRS financial measures section starting on page 7 of this press release for the definition and reconciliation of non-IFRS financial measures. Revenues Analysis for the Six and Three Months Ended June 30, 2026 REVENUES BY BRAND AND PRODUCT LINE (Unaudited) H1 2026 vs H1 2025 Q2 2026 vs Q2 2025 (€ thousands, except percentages) 2026 2025 % Organic 2026 2025 % Organic ZEGNA brand 634,573 570,409 11.2 % 13.9 % 324,281 277,493 16.9 % 16.5 % Thom Browne 123,106 129,154 (4.7 %) (0.1 %) 64,940 64,931 0.0 % 2.7 % TOM FORD FASHION 156,817 152,715 2.7 % 6.4 % 89,090 85,237 4.5 % 7.1 % Textile 67,012 67,061 (0.1 %) (0.3 %) 35,800 37,140 (3.6 %) (3.2 %) Other (1) 5,782 8,351 (30.8 %) (30.3 %) 3,004 4,068 (26.2 %) (25.9 %) Total revenues 987,290 927,690 6.4 % 9.3 % 517,115 468,869 10.3 % 11.0 % ____________________ (1) Other mainly includes revenues from agreements with third party brands. In Q2 2026, revenues for the ZEGNA brand were €324.3 million, compared to €277.5 million in Q2 2025, +16.9% YoY and +16.5% organic, in sequential acceleration driven by strong DTC performance across all regions. In Q2 2026, revenues for Thom Browne amounted to €64.9 million, in line with Q2 2025 (+2.7% organic), with positive organic growth in the DTC channel partially offset by the ongoing rationalization of the wholesale channel. In Q2 2026, revenues for TOM FORD FASHION amounted to €89.1 million, compared to €85.2 million in Q2 2025, +4.5% YoY (+7.1% organic), with a solid performance of the DTC channel reflecting the success of the Spring/Summer collections. In Q2 2026, Textile revenues were €35.8 million, compared to €37.1 million in Q2 2025, -3.6% YoY (-3.2% organic). Other revenues, which mainly include revenues from sales to third party brands3, were €3.0 million in Q2 2026, compared to €4.1 million in Q2 2025, -26.2% YoY (-25.9% organic). ____________________ 3 Includes revenues from the sale of finished products (Ready-to-Wear) to luxury brands outside the group, with which we have long term supply relationships. REVENUES BY DISTRIBUTION CHANNEL (Unaudited) H1 2026 vs H1 2025 Q2 2026 vs Q2 2025 (€ thousands, except percentages) 2026 2025 % Organic 2026 2025 % Organic Direct to Consumer (DTC) ZEGNA brand 573,256 504,501 13.6 % 16.3 % 300,968 253,706 18.6 % 18.4 % Thom Browne 102,697 92,639 10.9 % 18.0 % 51,833 46,351 11.8 % 16.0 % TOM FORD FASHION 106,827 100,895 5.9 % 11.3 % 58,059 52,844 9.9 % 13.1 % Total Direct to Consumer (DTC) 782,780 698,035 12.1 % 15.8 % 410,860 352,901 16.4 % 17.3 % As a percentage of branded products (1) 86 % 82 % 86 % 83 % Wholesale branded ZEGNA brand 61,317 65,908 (7.0 %) (4.5 %) 23,313 23,787 (2.0 %) (3.2 %) Thom Browne 20,409 36,515 (44.1 %) (43.6 %) 13,107 18,580 (29.5 %) (29.3 %) TOM FORD FASHION 49,990 51,820 (3.5 %) (2.8 %) 31,031 32,393 (4.2 %) (2.6 %) Total Wholesale branded 131,716 154,243 (14.6 %) (13.3 %) 67,451 74,760 (9.8 %) (9.5 %) As a percentage of branded products 14 % 18 % 14 % 17 % Textile 67,012 67,061 (0.1 %) (0.3 %) 35,800 37,140 (3.6 %) (3.2 %) Other (2) 5,782 8,351 (30.8 %) (30.3 %) 3,004 4,068 (26.2 %) (25.9 %) Total revenues 987,290 927,690 6.4 % 9.3 % 517,115 468,869 10.3 % 11.0 % ____________________ (1) Branded products refer to the products sold under the three brands that the Group operates, through the DTC or wholesale branded distribution channels. (2) Other mainly includes revenues from agreements with third party brands. DTC Revenues Analysis In Q2 2026, DTC revenues were €410.9 million, compared to €352.9 million in Q2 2025, +16.4% YoY (+17.3% organic), with double-digit organic growth across all brands. ZEGNA DTC revenues were €301.0 million, +18.6% YoY (+18.4% organic), in sequential acceleration driven by double-digit organic growth in all the geographic areas, led by the Americas. GCR reported a sequential improvement in the quarter, and performance in the Rest of APAC continued to strengthen. In EMEA, Europe continued to perform strongly, while Middle East recorded a positive performance during the quarter despite the initial impact of the conflict in the region. At June 30, 2026, ZEGNA counted 279 directly operated stores (DOS), stable compared to the first quarter. Thom Browne DTC revenues were €51.8 million, +11.8% YoY (+16.0% organic), with a strong momentum driven by the Americas, Korea and Japan. At June 30, 2026, Thom Browne had 128 DOS, with 3 net openings in the second quarter including Chicago and Vancouver. TOM FORD FASHION DTC revenues were €58.1 million, +9.9% YoY (+13.1% organic), driven by continued growth in the Americas and Rest of APAC, supported by the strong reception of the Spring/Summer collection. At June 30, 2026, TOM FORD FASHION had 67 DOS, with 1 net closure in the second quarter of a boutique in China. Wholesale Branded Revenues Analysis In Q2 2026, wholesale branded revenues (excluding Textile and Other) were €67.5 million, compared to €74.8 million in Q2 2025, -9.8% YoY (-9.5% organic), reflecting the Group’s strategic decision to focus on the DTC channel. ZEGNA wholesale revenues were €23.3 million, -2.0% YoY (-3.2% organic), consistent with the decision to focus on a retail-first business model based on exclusive customer experiences. Thom Browne wholesale revenues were €13.1 million, -29.5% YoY (-29.3% organic). This performance is the result of i) the continued streamlining of the channel, which is becoming less significant for the brand, in line with a retail-first strategy implementation, and ii) the conversion of the distribution in Hong Kong. TOM FORD FASHION wholesale revenues were €31.0 million, -4.2% YoY (-2.6% organic). The decline, reflecting the Group's retail-first strategy, was partially mitigated by a favorable phasing of deliveries during the quarter. REVENUES BY GEOGRAPHIC AREA (Unaudited) H1 2026 vs H1 2025 Q2 2026 vs Q2 2025 (€ thousands, except percentages) 2026 2025 % Organic 2026 2025 % Organic EMEA (1) 329,978 328,908 0.3 % 1.5 % 177,113 174,819 1.3 % 1.6 % Americas (2) 302,348 262,714 15.1 % 19.8 % 165,320 137,743 20.0 % 21.8 % Greater China Region 236,106 223,101 5.8 % 6.8 % 111,976 99,841 12.2 % 8.6 % Rest of APAC (3) 117,550 111,508 5.4 % 13.6 % 62,050 55,658 11.5 % 19.3 % Other (4) 1,308 1,459 (10.3 %) (9.0 %) 656 808 (18.8 %) (17.5 %) Total revenues 987,290 927,690 6.4 % 9.3 % 517,115 468,869 10.3 % 11.0 % ____________________ (1) EMEA includes Europe, the Middle East and Africa. (2) Americas includes the United States of America, Canada, Mexico, Brazil and other Central and South American countries. (3) Rest of APAC includes Japan, South Korea, Singapore, Thailand, Malaysia, Vietnam, Indonesia, Philippines, Australia, New Zealand, India and other Southeast Asian countries. (4) Other revenues mainly include royalties. EMEA (33% of the Group’s H1 revenues) recorded revenues of €177.1 million in Q2, +1.3% YoY (+1.6% organic), with robust DTC growth across all three brands, partially offset by the negative performance of the wholesale channel. Middle East was positive in the second quarter. Americas (31% of the Group’s H1 revenues) recorded revenues of €165.3 million in Q2, +20.0% YoY (+21.8% organic). The strong performance was supported by double-digit growth in the DTC channel across all brands. GCR (24% of the Group’s H1 revenues) recorded revenues of €112.0 million in Q2, +12.2% YoY (+8.6% organic), with an acceleration in the performance versus Q1. Rest of APAC (12% of the Group’s H1 revenues) recorded revenues of €62.1 million in Q2, +11.5% YoY (+19.3% organic), driven by solid growth in all markets, especially in Korea and Japan. Group Monobrand(1) Store Network at June 30, 2026 At June 30, 2026 At December 31, 2025 At June 30, 2025 Stores ZEGNA Thom Browne TOM FORD FASHION Group ZEGNA Thom Browne TOM FORD FASHION Group ZEGNA Thom Browne TOM FORD FASHION Group EMEA 78 12 12 102 79 10 12 101 81 9 12 102 Americas 78 36 16 130 76 35 14 125 75 32 13 120 Greater China Region 72 37 11 120 74 36 12 122 77 39 13 129 Rest of APAC 51 43 28 122 53 42 28 123 53 40 28 121 Total Direct to Consumer (DTC) 279 128 67 474 282 123 66 471 286 120 66 472 EMEA 39 2 14 55 41 4 16 61 41 5 16 62 Americas 58 1 44 103 57 1 46 104 58 1 46 105 Greater China Region 7 6 — 13 9 9 — 18 11 10 — 21 Rest of APAC 5 4 3 12 5 4 3 12 5 5 1 11 Total Wholesale 109 13 61 183 112 18 65 195 115 21 63 199 Total 388 141 128 657 394 141 131 666 401 141 129 671 ____________________ (1) Monobrand store count includes our DOSs (which are divided into boutiques and outlets) and our Wholesale monobrand stores (including also monobrand franchisees). 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Ermenegildo Zegna Group Records Double-Digit Revenue Growth in Q2 2026 With Accelerating DTC Momentum1

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