Ermenegildo Zegna acquisitions, on the record

Word for word“The transaction implied a value for the acquired 85% stake of TFI of $150 million, on a cash-free and debt-free basis and assuming a normalized working capital.” 20-F for 2023

Word for word“On October 23, 2023, the Group executed an agreement with its South Korean franchise partner, pursuant to which the Group acquired the ZEGNA retail business in South Korea and began directly operating the ZEGNA business in South Korea as of January 1, 2024.” 20-F for 2023

Word for word“The Group paid consideration of €4.7 million for 15% of the company.” 20-F for 2023

Word for word“The Group paid cash consideration of €7,991 thousand and recognized deferred consideration of €18,583 thousand, which at December 31, 2023, amounted to €18,991 thousand, of which €9,302 thousand is expected to be paid in 2024 and was classified within current liabilities and €9,689 thousand is expected to be paid in 2025 and was classified within non-current liabilities.” 20-F for 2023

Word for word“On March 31, 2023, the Group completed the acquisition of a 25% interest in Canadian technical trail-running shoe company Norda Run Inc. for consideration of $7.1 million, with the option to gradually increase its stake over the following nine years.” 20-F for 2023

Word for word“In June 2021, we acquired an additional 5% equity interest in Thom Browne Inc.” 20-F for 2023

Word for word“Tessitura Ubertino (in which we acquired a 60% interest in June 2021) is a boutique weaving mill based in Pratrivero, Italy.” 20-F for 2023

Word for word“Dondi (in which we acquired a 65% interest in 2019) is a leader in manufacturing high-quality jersey fabrics for men and women, all Made in Italy.” 20-F for 2023

Word for word“Bonotto (in which we acquired a 60% interest in 2016) is a textile manufacturer based in Molvena, Italy, that was originally founded in 1912.” 20-F for 2023

Word for word“The Group’s expansion continued in 2018 with the acquisition of an 85% interest in Thom Browne, a leading and fast-growing luxury brand focused on high-end menswear and womenswear that was founded by Mr. Thom Browne in 2001 and is based in New York.” 20-F for 2023

Word for word““ Business Combination ” means the business combination between the Company and IIAC, which was completed on December 17, 2021.” 20-F for 2023

Word for word““ Cash Consideration ” means an amount of €455,000,000.” 20-F for 2023

Word for word“In June 2021, the Company acquired an additional 5% interest in Thom Browne and in June 2024 Mr. Thom Browne exercised a put option to sell to the Company an additional 2% of Thom Browne Inc. (the parent company of the Thom Browne group), for total consideration of $25 million (€22,752 thousand), following which the Group holds 92% of the Thom Browne group.” 20-F for 2024

Word for word“As a result of the TFI Acquisition, the Group also obtained 100% of Tizeta S.r.l. (“Tizeta”), of which it previously held a 50% interest.” 20-F for 2024

Word for word“The purchase consideration was €1.1 million and is expected to be paid in the first half of 2026.” 20-F for 2025

Word for word“In 2018, the Group completed the acquisition of an 85% shareholding of Thom Browne Inc., the holding company of the Thom Browne business.” 20-F for 2025