OUR COMMITMENT TO SUSTAINABILITY

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Creativity, innovation and craftsmanship excellence have been fundamental values for Salvatore Ferragamo since the brand's origins and have found tangible application in the conception and realization of each creation. The deep connection with the territory, its culture and its community has matured in the brand an ever-increasing awareness of the need for a strong commitment to protect the places where it operates and the people who work for the Company, going beyond what is required by national and international laws, rules and regulations.

Ferragamo's determination to pursue a sustainability strategy embedded in its own business model is furthermore undelined by the brand's integration into Euronext's MIB ESG: the index, dedicated to Italian blue-chips, identifies the top 40 listed companies with the best environmental, social and governance (ESG) practices.

SUSTAINABILITY PLAN

For Salvatore Ferragamo, sustainability is deeply integrated into the Business strategy.

As from 2017, the Group adopted a Sustainability Plan, which is updated annually. It aims to create a shared vision of the direction taken at global level and to promote a culture of sustainability that respects, protects and promotes excellence.

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SUSTAINABLE DEVELOPMENT GOALS

Following the publication of the Sustainable Development Goals by the United Nations, the Salvatore Ferragamo Group put in place a process to analyze the SDGs based on coherence in regard to its own sustainability values and relevance in regard to its own activities in the short, medium, and long term. This process ended with the identification and adoption of 6 Sustainable Development Goals to be broken down into concrete actions to be developed internally and on which to focus the Group's resources. After signing the Fashion Pact, in 2019 the Group reinforced its commitment in the field of environmental protection by integrating three additional SDGs into the Sustainability Plan: “Climate action”, “Life below water” and “Life on land”.

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GOOD HEALTH AND WELL-BEING

In line with its own Charity Policy, the Group is committed to promoting and supporting initiatives aimed at protecting the health of women and children.

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QUALITY EDUCATION

The Group, in collaboration with the Fondazione Ferragamo, is committed to investing in the education and training of those who intend to work in the fashion and design world and in the highest and most artistic forms of Italian craftsmanship, in line with the stylistic values and canons expressed in the work of its Founder.

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AFFORDABLE AND CLEAN ENERGY

The Group is committed to protecting and safeguarding the environment through continuous improvement of energy efficiency in its consumption and by promoting the use of renewable sources.

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DECENT WORK AND ECONOMIC GROWTH

The Group focuses its commitment on encouraging and enhancing people's professional development, while respecting the community historical values, in order to encourage innovation and creativity, while also ensuring the healthiness of workplaces.

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SUSTAINABLE CITIES AND COMMUNITIES

The Group is committed to directing significant attention and resources to artistic and cultural initiatives, in order to ensure a more responsible management of urban reality and promote culture in all its forms and expressions.

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RESPONSIBLE CONSUMPTION

The Group is committed to guaranteeing responsible management in its processes to produce and consume resources, raw materials and packaging materials, investing in quality in order to reduce environmental impact and extend the life cycle of its products, and reporting on its business on the basis of the principle of transparency.

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CLIMATE ACTION

With a view to combating climate change, the Group is committed to protecting and safeguarding the environment through strategies and initiatives intended to minimize the environmental impact of its operations.

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LIFE BELOW WATER

The Group is committed to protecting the oceans, seas and marine resources through concrete initiatives such as reducing the use of single-use plastic.

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LIFE ON LAND

In order to restore biodiversity, the Group is committed to implementing meaningful actions to protect species and promote a sustainable use of the terrestrial ecosystem.

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UN GLOBAL COMPACT

In order to implement the universal principles of sustainability and support the United Nations’ goals, in December 2018, the Ferragamo Group joined the United Nations Global Compact, the world's leading voluntary corporate citizenship initiative. The Global Compact offers a universal language for corporate responsibility and a framework for businesses of all sizes, complexity and location, thereby supporting organizations in making responsible strategic decisions to promote internationally-shared corporate goals.

Each year, the Ferragamo takes part in workshops and webinars organized by the Global Compact in order to provide companies with training and support in various areas.

FASHION PACT

Confirming its commitment to environmental sustainability, in 2019 the Salvatore Ferragamo has joined the Fashion Pact, a coalition of 60+ global leading companies from the fashion and textile industry formed to set strategic, tangible goals to reduce the environmental impact of this important industry.

Supported by some of the leading experts across research, science, and conservation, the Fashion Pact has set tangible targets across three areas of focus: implementation of science-based targets (SBTs) for Climate to achieve net-zero carbon impact by 2050; protection of key species as well as the protection and restoration of critical natural ecosystems; and reduction of negative impact the fashion industry has on the ocean environment through the elimination of problematic and unnecessary plastic in packaging.

In 2020, the Fashion Pact published its first Progress Report, which measures progress on the commitment on climate, biodiversity, and oceans and steers actions towards impact.

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SI RATING

Testyfying to the strong committment on managing sustainability in multiple ESG areas (Environmental, Social and Governance), in 2022, Salvatore Ferragamo S.p.A obtained, for the second consecutive year, the highest level - Gold - of the SI Rating certification. Based on internationally recognized tools and on SASB’s materiality map (Sustainability Accounting Standards Board), SI Rating is the first algorithm that includes on a single platform all the internationally recognized tools of the ESG criteria and the 17 SDGs of the United Nations contained in the 2030 Agenda, in order to evaluate the comprehensive level of sustainability in organizations.

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LETTER FROM THE CHAIRMAN

Dear Shareholders,

For Salvatore Ferragamo, 2022 was a strategically important year, albeit in a complex and challenging macroeconomic context. The year was characterized by very intensive and determined work - inspired by the long history of our company and its many unique values and examples - to create a solid foundation for the future on which to consolidate our identity, and a qualified organization to develop the important potential of our brand.

Leonardo Ferragamo, Salvatore Ferragamo S.p.A. Chairman

LETTER FROM THE CEO

Dear Shareholders,

I am delighted to introduce Salvatore Ferragamo’s Annual Report for FY 2022, my first as CEO.

Ferragamo has an extraordinary heritage of innovation and creativity, and through close to a century of history has become a reference in the global luxury industry. I am honored to lead this wonderful organization and excited by the brand’s development potential.

Marco Gobbetti, Salvatore Ferragamo S.p.A. Managing Director and General Manager

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2022
ANNUAL REPORT