| Schedule of Transactions with Related Parties |
The following table summarizes transactions with related parties for the years ended December 31, 2025, 2024 and 2023. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the years ended December 31, | | 2025 | | 2024 | | 2023 | | (€ thousands) | Revenues | | Cost of sales | | Selling, general and administrative expenses | | Marketing expenses | | Financial income/(expenses) | | Foreign exchange gains/(losses) | | Revenues | | Cost of
sales | | Selling, general and administrative expenses | | Marketing expenses | | Financial income/(expenses) | | Foreign exchange gains/(losses) | | Revenues | | Cost of
sales | | Selling, general and administrative expenses | | Marketing expenses | | Financial income/(expenses) | | Foreign exchange gains/(losses) | | Associates | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | TFI Group(1)(2) | — | | — | | — | | — | | — | | — | | — | | — | | — | | — | | — | | — | | 3,233 | | 288 | | 740 | | — | | (7) | | — | | Filati Biagioli Modesto S.p.A. | — | | 4,016 | | 20 | | — | | — | | — | | — | | 5,782 | | 65 | | — | | — | | — | | 5 | | 4,782 | | 141 | | — | | 96 | | — | | Norda Run Inc. | — | | — | | 1 | | — | | — | | (1) | | — | | 138 | | (4) | | — | | — | | — | | — | | 2,072 | | 122 | | — | | — | | (14) | | Luigi Fedeli e Figlio S.r.l. | 15 | | — | | — | | — | | — | | — | | 62 | | 547 | | 4 | | — | | (5) | | — | | 86 | | 85 | | — | | — | | — | | — | | Total associates | 15 | | 4,016 | | 21 | | — | | — | | (1) | | 62 | | 6,467 | | 65 | | — | | (5) | | — | | 3,324 | | 7,227 | | 1,003 | | — | | 89 | | (14) | | Companies controlled by Monterubello or its shareholders, the Company’s directors or Senior Management Team | | EZ Real Estate | 14 | | 2,618 | | 3,871 | | 2,040 | | (691) | | — | | 14 | | 2,534 | | 4,187 | | 2,106 | | (744) | | — | | 4 | | 2,580 | | 4,100 | | 2,072 | | (545) | | — | | Schneider Group | — | | 8,979 | | 73 | | — | | — | | 15 | | 6 | | 13,398 | | (1) | | — | | — | | — | | 25 | | 14,209 | | 14 | | — | | — | | — | | Alan Real Estate S.A. | — | | 1,765 | | 3,492 | | — | | (1,627) | | 11 | | — | | 1,730 | | 3,160 | | — | | (1,708) | | — | | — | | 1,650 | | 3,100 | | — | | (310) | | (8) | | Agnona S.r.l. | 206 | | 42 | | 275 | | 57 | | — | | (3) | | 70 | | 55 | | 261 | | 67 | | (1) | | — | | 64 | | 35 | | 210 | | 32 | | (1) | | (1) | Other companies controlled by Monterubello or its shareholders, the Company’s directors or Senior Management Team(2) | 150 | | 5,127 | | 593 | | 14 | | 1 | | 3 | | 341 | | 5,632 | | 1,311 | | 39 | | 4 | | — | | 195 | | 5,827 | | 614 | | 6 | | 3 | | — | | Other related parties connected to directors and shareholders | | UBS Group AG | — | | — | | 1,273 | | — | | 419 | | (971) | | — | | — | | 559 | | — | | (1,519) | | (1,746) | | — | | — | | 3,108 | | — | | (1,522) | | 350 | | Other | — | | — | | 2,628 | | — | | — | | — | | — | | — | | 2,754 | | — | | — | | — | | — | | — | | 3,038 | | — | | — | | — | | Total transactions with related parties | 385 | | 22,547 | | 12,226 | | 2,111 | | (1,898) | | (946) | | 493 | | 29,816 | | 12,296 | | 2,212 | | (3,973) | | (1,746) | | 3,612 | | 31,528 | | 15,187 | | 2,110 | | (2,286) | | 327 | | Total for the Group | 1,916,947 | | 622,910 | | 1,033,871 | | 120,686 | | (8,962) | | 9,000 | | 1,946,647 | | 650,087 | | 1,008,324 | | 121,384 | | (25,967) | | (11,338) | | 1,904,549 | | 680,235 | | 901,364 | | 114,802 | | (30,839) | | (5,262) |
______________________ (1)Costs with TFI Group include royalties prior to the completion of the TFI Acquisition amounting to €181 thousand for the year ended December 31, 2023. (2)Includes transactions with Fondazione Zegna, Finissaggio e Tintoria Ferraris S.p.A. and Pettinatura di Verrone S.r.l.
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| Schedule of Balances with Related Parties |
The following table summarizes assets and liabilities with related parties at December 31, 2025 and 2024. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | At December 31, | | 2025 | | 2024 | | (€ thousands) | Non-current
assets | | Current assets | | Non-current liabilities | | Current liabilities | | Non-current
assets | | Current assets | | Non-current liabilities | | Current liabilities | | Associates | | | | | | | | | | | | | | | | | Filati Biagioli Modesto S.p.A. | — | | 91 | | — | | 617 | | — | | 14 | | — | | 780 | | Luigi Fedeli e Figlio S.r.l. | — | | — | | — | | — | | — | | — | | — | | 64 | | Norda Run Inc. | — | | — | | — | | — | | — | | — | | — | | — | | Total associates | — | | 91 | | — | | 617 | | — | | 14 | | — | | 844 | | Monterubello and Companies controlled by Monterubello or its shareholders, the Company’s directors or Senior Management Team | | EZ Real Estate | 34,723 | | 619 | | 28,577 | | 7,036 | | 39,222 | | 81 | | 33,284 | | 8,955 | | Alan Real Estate S.A. | 35,830 | | — | | 32,106 | | 5,410 | | 37,357 | | — | | 33,332 | | 5,153 | | Schneider Group | — | | 3 | | — | | 2,508 | | — | | 211 | | — | | 2,319 | | Agnona S.r.l. | — | | 96 | | — | | 132 | | — | | 33 | | — | | 125 | Other companies controlled by Monterubello or its shareholders, the Company’s directors or Senior Management Team(1) | 329 | | 114 | | — | | 1,441 | | 179 | | 280 | | — | | 1,944 | | Other related parties connected to directors and shareholders | | UBS Group AG | 1,616 | | 10,185 | | 667 | | 2,489 | | 2,542 | | 52,788 | | 1,756 | | 23,254 | | Other | — | | — | | — | | 754 | | — | | — | | — | | 599 | | Total transactions with related parties | 72,498 | | 11,108 | | 61,350 | | 20,387 | | 79,300 | | 53,407 | | 68,372 | | 43,193 | | Total for the Group | 1,644,495 | | 1,190,213 | | 985,235 | | 750,392 | | 1,627,811 | | 1,206,162 | | 998,201 | | 852,885 |
______________________(1)Includes transactions with Fondazione Zegna, Finissaggio e Tintoria Ferraris S.p.A. and Pettinatura di Verrone S.r.l.
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| Schedule of Remuneration and Outstanding Balances With Key Management Personnel Explanatory |
The following table summarizes remuneration of and outstanding balances with the directors of the Group and key executives with strategic responsibilities:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Key Management Personnel | | Outstanding Balance | | (€ thousands) | Short-term employee benefits(1) | | Post- employment benefits | | Other long-term benefits | | Share-based payments | | Employee benefits | | Other current and non-current financial liabilities(2) | | Other current liabilities | | 2025 | 17,871 | | 1,093 | | (3,175) | | 1,286 | | 3,749 | | 90,295 | | 4,495 | | 2024 | 15,849 | | 1,986 | | 3,392 | | 4,058 | | 7,074 | | 127,072 | | 4,912 | | 2023 | 17,516 | | 3,047 | | 9,110 | | 14,251 | | 4,346 | | 138,558 | | 43,034 |
______________________ (1)Includes corporate bodies fees, consultancy fees and personnel compensation. 2025 also includes €2,609 thousand arising from changes in senior management during the year. (2)Primarily relates to liabilities on put contracts entered into as part of the Group’s investment in Thom Browne.
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