Original filing text · Part I

Item 11 — Quantitative and Qualitative Disclosures About Market Risk

Ermenegildo Zegna N.v. · 20-F · FY 2025 · Period ended Dec 31, 2025

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For information relating to the market risks that the Company is exposed to, refer to Note 35 — Qualitative and quantitative information on financial risks to the Consolidated Financial Statements included elsewhere in this report.