Zignago Vetro S p A : Consolidated non financial report 2023 - 2023

GLASS MEETS NATURE

1.0

Letters to the stakeholders_ ____________ 4

2.0

Methodological note

and reporting scope___________________ 6

3.0

Zignago Vetro: history,

mission and business__________________ 10

4.0

ESG Highlights_______________________ 28

5.0

The Zignago Vetro Group's ESG Strategy__ 34

6.0

The environment_____________________ 56

7.0

Social topics_________________________ 142

8.0

Zignago Vetro Group governance_________ 190

9.0

GRI Index_ __________________________ 246

10.0

Notes______________________________ 254

ZIGNAGO VETRO | Sustainability report 2023



1.0

Letter to the stakeholders

We also devoted more time and attention to employee training and the prevention of work-related injuries.

In 2023, we successfully operated without any reports of violations in key areas such as human rights, environmental protection, finance and taxation, and the proper management of market relations.

In addition, the Board of Directors and the Company, specifically through its ESG Committee, have consistently strived to build a fully sustainable management

Sustainability| 2023report

Nicolò MarzottoVETROZIGNAGO

2023 has been a very challenging year, in more ways than one. In the first few months, the glass container market exhibited growth, demanding increased production volumes and new products from the Group. However, it later encountered challenges associated with the broader economic landscape, marked by slowing consumption and rising interest rates. Nevertheless, despite the difficulties and uncertainties, glass has proven to be rewarded by consumer choices, a testament to its unique character and extraordinary qualities in terms of health, safety, recyclability, and thus sustainability.

In the face of several difficulties linked to the overall economic environment, we persevered through turbulent times for the input markets, notably scrap and energy.

We experienced another year of hard work on the sustainability front, one that saw us pursue our pre-stated objectives with both determination and perseverance, while also adding challenging new goals and important milestones to the mix, even if in some cases, phenomena beyond our control slowed down the achievement of set goals.

Despite the challenges encountered sourcing raw cullet, the percentage of our production made using post- consumer recycled glass (PCR) remained very high, reaching 48.6%. This outcome was strongly influenced by high levels of demand, further driven by speculative phenomena. Glass is the undisputed frontrunner in terms of recyclability as it can be fully recycled indefinitely without compromising the quality of the resulting container. No other material comes close to competing with the intrinsic properties of glass. We have therefore set ourselves even more challenging recycling goals, despite the glass cutlet collection and processing market being highly competitive and speculative.

Together, our companies operating in the glass recycling sector represent a significant share of overall national waste management, setting a benchmark for the circular economy and local reuse for glass manufacturing plants.

The Group is also firmly committed to continuously enhancing energy efficiency, primarily through ongoing investments in more efficient plants.

The quantity of energy used for production decreased slightly, partly due to production shutdowns prompted by market conditions. This led to higher consumption per tonne of glass. The share of electricity from renewable sources further increased to 46% of the total, which is impressive considering the extremely challenging energy market context.

In 2023, alongside the highlighted initiatives, we further developed our Decarbonisation Plan, organising a set of interventions that will substantially reduce emissions in the coming years while also laying the groundwork for an energy source development programme.

We also made great progress in terms of water consumption in 2023: further investments and increasingly prudent industrial management allowed us to reduce our water consumption per tonne of molten glass by more than 24%, and we have confirmed some very ambitious strategic targets.

We have undertaken several initiatives to support worthy environmental, social, and cultural causes. Some of these include contributions to reforestation initiatives, seabed clean-up activities, sustainable winemaking (Gambero Rosso award), and the provision of aid to local institutions supporting people and families in need, and to health care facilities. Finally, we supported several cultural initiatives. The Group continued its "Zignago Vetro e l'Arte" project in 2023, which supports artists and the arts, including glass art. This involved sponsoring the Maggio Musicale Fiorentino and the Mazzotti Gambrinus literary prize.

We made a concerted effort to improve our working conditions and to provide a safe and healthy place to work for our employees.

model that promotes a respect for human rights and transparent governance. As a result, Zignago Vetro's sustainability achievements were recognised by the entities responsible for assigning sustainability ratings, as demonstrated by largely positive feedback in 2023. New ratings were awarded that position the Group as a leader in sustainability. Furthermore, Zignago Vetro was included in the first group of sustainable companies to be listed on the Italian Stock Exchange. This achievement is a testament to the virtue of our actions and the commitment we have shown towards sustainability.

Alongside all this, we are pleased with the economic and financial results we have achieved, in addition to the value generated by the Group for the benefit of all stakeholders, with whom we have managed to maintain a healthy relationship, despite the challenges we have faced.

We are very proud of the professionalism and reliability for which the Group is well known.

The results and improvements we were able to achieve in 2023 are owed to our extraordinary, motivated, and expert team. For this, we would like to extend a big thank you to each and every one of you.

To conclude, for all those who regard the Group as a source of value and opportunity in making use of their savings and capital, we believe we continue to represent a trusted partner.

All of this makes us very proud and gives us a reason to believe that the Group is adequately pursuing ethical growth, capable of combining passion, care and attention to business management with the requests of its partners, in full awareness that its growth and results are based precisely on this.

Notwithstanding the progress we have made and the results we have achieved, there remains much to be done, and we are committed to persevering and making improvements every day to construct a sustainable, ever- changing future for the Zignago Vetro Group.

CHAIRPERSON

Roberto Cardini

CEO

1.0Letter to the stakeholders

2.0 Methodological note and reporting scope

This document is the Group's fifth Sustainability Report (hereinafter also "Report") and is the seventh consolidated non-financial statement to be published annually.

ZIGNAGO VETRO | Sustainability report 2023

ZIGNAGO VETRO POLSKA S.A. C

TRĄBKI, POLAND

ZIGNAGO VETRO S.P.A.

FOSSALTA DI PORTOGRUARO, ITALY

ITALIAN GLASS MOULDS S.R.L. E A

Zignago Vetro S.p.A. is part of an industrial group, which is headed by Zignago Holding, a company in which the glass business merges with other businesses, in particular the wine business and production of electricity from renewable sources.

The scope of this Report extends to all the Group's companies that fall under the consolidated financial statements prepared in compliance with the IFRS 11.

Specifically, it includes (consolidated line-by-line):

1. ZIGNAGO VETRO S.P.A.

THE PARENT COMPANY

FOSSALTA DI PORTOGRUARO, ITALY

EMPOLI, ITALY

1. ZIGNAGO VETRO FRANCE S.A.S.

VIEUX ROUEN SUR BRESLE, FRANCE

1. ZIGNAGO VETRO POLSKA S.A.

TRĄBKI, POLAND

1. VETRO REVET S.R.L.

EMPOLI, ITALY

1. ITALIAN GLASS MOULDS S.R.L (*)

PORTOGRUARO, ITALY

The following companies have not, however, been included, despite being consolidated on a line-by-line basis:

• Zignago Glass USA Inc., which operates in Central and North America and has been deemed irrelevant for the purposes set out in this document;

The companies Vetri Speciali S.p.A., Vetreco S.r.l., and Julia Vitrum S.p.A. are also consolidated at equity.

Hereinafter, the above-mentioned Group, headed by the Parent Company Zignago Vetro S.p.A. is also simply referred to as the "Group", or "Zignago Vetro".

1. Included in the consolidation scope since January 1, 2023: acquired in October 2022

PORTOGRUARO, ITALY

2.0 Methodological note and reporting scope

7

3.0

Zignago Vetro: history, mission, and business

3.1 History

3.2

Mission, Vision and Values

3.3

Structure and activity of the Zignago Vetro Group

3.4

Business Units

3.5

Business Model and strategic orientation

3.6

Glass and its main features

3.7

The reduction in the consumption of virgin raw materials and increase in recycling

ZIGNAGO VETRO | Sustainability report 2023

3.0 Zignago Vetro: history, mission, and business

3.1 History

Zignago Vetro's story begins in the mid-twentieth century, when, on the initiative of Gaetano Marzotto, a vast tract of land, until then uncultivated, was converted to agro- industrial production, which later gave impetus to the first production of glass containers. This is how Zignago Vetro was born, with its first plant located in Fossalta di Portogruaro.

The founder's original objective was to radically transform the quality of agricultural labour through the mechanisation of production and professional education.

It was not only an entrepreneurial experience, but also a social one: together with the company the founder created a working structure and buildings dedicated to society (a nursery school, elementary school, theatre, etc.) and to the people (accommodation for employees). This all represented a fundamental step in the birth and development of a new social-economic context that over time has evolved considerably, and even today continues to grow.

Zignago Vetro succeeded in embodying the essence of its Founder's message, developing its businesses over the decades, thanks to the fundamental contribution of its workforce, ties to the territory, and strategic vision, making it possible to seize the growth opportunities that the market offered.

The commitment of the Marzotto family to the community has remained constant, growing alongside the company, and finds its expression through an ongoing attention on the reduction of its environmental impact and important investments in infrastructures and social initiatives.

Today, the Zignago Vetro Group is one of the main producers of hollow glass containers in Italy and is one of the most important international companies in its sector.

This result is the result of steady growth, thanks both to the development of its own plants and the acquisition of manufacturing glass companies and plants, many of which were dealing with situations of dire financial insolvency.

Zignago Vetro has been able to integrate the newly acquired businesses, restoring development and profitability, safeguarding jobs and also developing the referential socio-economic context. Since 1987, six production plants have been acquired - and a new one has been built - which today operate within the four glass companies of the Group, distributed among Italy, France, and Poland. They were carefully curated developments, following a prudent investment logic and efficient allocation of capital.

Moreover, starting from 2013, the Group has integrated its glass-related activities with those dedicated to cullet collection and recycling: this was a fundamental step for the sustainable development and for the glass production. Indeed, glass is a packaging material that is 100% recyclable an infinite number of times, without deteriorating the quality of the new container. Today, the Group has three glass recovery facilities, distributed throughout Italy.

In addition, the Group expanded its mould-making business to produce glass containers.

The Parent Company Zignago Vetro has been listed since 2007 on the Italian Stock Exchange, where it is present in the FTSE Italia Mid Cap and FTSE Euronext STAR Milan indexes.

3.2

Mission, Vision and Values

The Zignago Vetro Group's Code of Ethics defines the underlying inspirational and behavioural principles of the process for value creation (for shareholders, for employees, and for the community in general) and the development of business. This value creation must be implemented

in a long-term and sustainable manner through fair relationships with clients and suppliers and with respect for the dignity of all people who, through their work, contribute to the success of the company itself3.

The Code of Ethics is subject to constant updating and revision in relations with contributions received from stakeholders, as well as with the evolution of legislative measures, international best practise and, finally, according to the know-how acquired in the application of the Code itself.

Mission

To give a future to the tradition of glass by creating innovative and sustainable products that improve people's everyday lives, while taking care of our communities and the environment.

Vision

To give shape to ideas and substance to creativity.

Zignago Vetro combines technology and tradition to achieve sustainable and flexible production, stimulating customers and helping them to develop new projects.

Zignago Vetro is able to create original and innovative products that convey specific values and engage its audience. The Group also plays an active role in the cultural contexts in which it operates.

Values

The founding values shared by the Group are:

Sustainability

Innovation and creativity

Passion and ethics Quality and reliability

Flexibility and efficiency

Safety

and transparency

Identity and a sense of belonging

ZIGNAGO VETRO | Sustainability report 2023

3.0 Zignago Vetro: history, mission, and business

3.3

Structure and activity of the Zignago Vetro Group

The Zignago Vetro Group is now one of the leading companies in the production and commercialisation of glass containers both in Italy and globally. The growth of the Group has featured a progressive diversification of its activities in various market sectors, ranging from beverages, food, cosmetics, perfumery, special containers and pharmaceuticals. This makes Zignago Vetro the most diversified glass group in the world. The Group's growth occurred and even today continues to be based on some strategic principles and business models that focus on flexibility and efficiency in production, on customer service, and on innovation. All these characteristics were made possible by the expertise gained over the years in all the business unit that form the Group.

ZIGNAGO VETRO | Sustainability report 2023

Vetro Revet

51%

Vetreco

30%

Julia Vitrum

40%

3.0 Zignago Vetro: history, mission, and business

3.4

Business Units

Zignago Vetro S.p.A.

operates in the food & beverages, cosmetics & perfumery and pharmaceuticals markets and operates from two plants, in Fossalta di Portogruaro (VE) and Empoli (FI).

Zignago Vetro France S.A.S.

is a French company that works in the glass containers market for high-end perfumery with a plant located in Normandy, in the heart of a district with a historic tradition in the production of sophisticated bottles for luxury perfumes. It also produces quality bottles to be used for luxury perfumery and spirits, created with semi- industrial production processes.

Vetri Speciali S.p.A.

produces and markets personalised bottles, targeting premium and high-end wines, oils, and liqueurs, created in original shapes with a wide range of colours and also in very small lots. The company operates with four plants located in north-eastern Italy.

Vetreco S.r.l., Vetro Revet S.r.l., and Julia Vitrum S.p.A

are companies that operate in the areas of processing and commercialisation of glass cullet intended for reuse in glass companies. Vetreco operates in central-southern Italy, Vetro Revet operates mainly in central Italy, and Julia Vitrum S.p.A operates mainly in north-eastern Italy.

Zignago Vetro Polska S.A.

with offices and a production plant in Trąbki, in the region of Mazovia, near Warsaw, works in specific niches of the worldwide market of glass containers for cosmetics and perfumery as well as for food and beverage, offering a wide range of personalised products.

Zignago Glass USA Inc.

works as a sales agency to promote the European glass productions of the Group on the American market.

Italian Glass Moulds S.r.l.

manufacturers and recycles moulds for hollow glass containers, a key area of glass container production. The company boasts modern facilities, its own technologies, and an established and significant know-how.

3.5

The Business Model and strategic orientation

The outstanding factors that characterise the Zignago Vetro's business model, on which the Group's strategic orientation is founded, are the following:

• Flexibility and production efficiency, an essential prerequisite that allows the Group to operate in niche yet diverse markets. Indeed, Zignago Vetro offers products that differ greatly, ranging from standard manufacturing to personalised items, to those offering very significant innovations, up to the production of special containers featuring shapes, colours, dimensions, and production lots that are extremely far from the conventional ones;
• Customer service, intended as an added value that is expressed through flexibility in responding to changing market demands, after-sales assistance, and a transparent and collaborative approach;
• Product and process innovation which allows the Group to constantly pay a high attention in making products in the best possible way;
• Focus on the human component, an essential and distinctive element for the growth and strengthening of the Group's position in the market.

A further distinctive element of Zignago Vetro's strategy is vertical integration, which has allowed other complementary activities to develop alongside the production of glass containers, and in particular:

• Decoration services - silk-screen printing and lacquering - on glass containers, produced by Zignago Vetro Polska, which over the years has created and developed a department capable of providing the market and Group companies with high quality services;
• Processing and marketing of cullet originating from urban waste collection: this activity has been constantly expanding over the years and is part of the Group's growth lines for the near future.

The Group wants to maximise the recycling of glass because it represents a significant source of savings in terms of consumption of raw materials and energy, as well as a reduction in climate altering emissions. Glass recycling is therefore one of the key points of the Group's sustainability strategy.

Flexibility and efficiency

Innovation Quality

ZIGNAGO VETRO | Sustainability report 2023

3.0 Zignago Vetro: history, mission, and business