Zignago Vetro S p A : Consolidated non financial report 2022 - 2022

ZIGNAGOVETRO

Sustainability report 2022

CONSOLIDATEDNON-FINANCIAL STATEMENTPURSUANTTOLEGISLATIVE

DECREENO.254/2016

2022

Glass meets nature

1.0

Letter to the Stakeholders ________________ 4

2.0

ZIGNAGOVETRO| Sustainabilityreport2022

Methodological note and reporting scope __ 6

3.0

Zignago Vetro: history, mission,

and business __________________________ 10

4.0

ESG Highlights _________________________ 32

5.0

The Zignago Vetro Group's ESG Strategy ___ 38

6.0

The environment _______________________ 58

7.0

Social topics ___________________________ 132

8.0

Zignago Vetro Group governance ________ 180

9.0

GRI Index _____________________________ 228

10.0

Notes ________________________________ 236

1.0

Letter to the stakeholders

The United Nations decided to dedicate the year 2022 to glass, a material with a rich history spanning thousands of years, unique properties, and a truly vast variety of applications.

Despite challenging circumstances, glass experienced a surge in demand and appreciation from users in 2022, proving itself to be a greatly sustainable commodity. Even through difficult times, it has been rewarded by consumer choices, a testament to its unique character and extraordinary qualities in terms of health, safety, and recyclability. Glass is an infinite resource with ancient roots that is becoming increasingly popular.

Against this backdrop, the Zignago Vetro Group has successfully pursued economic and sustainable growth, despite the complex general economic and geopolitical conditions. We have faced soaring production factor costs, particularly in energy, raw materials, packaging, transportation, and other areas. Additionally, we witnessed a conflict erupt in the heart of Europe.

However, this year we also left behind the pandemic and its restrictions, resuming the pleasure of social relationships and everyday life.

We experienced a year of hard and constructive work on the sustainability front, one that saw us pursue our pre-stated objectives with both determination and perseverance, while also adding challenging new goalsand important milestones to the mix.

The percentage of our production made from post-consumer recycled glass (PCR) increased yet again, surpassing our targets and reaching 53.4%. 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. Julia Vitrum S.p.A., our new company and the third Group initiative in the glass recycling sector, has grown steadily and is now a point of reference in the circular economy and local reuse field in North-East Italy.

Meanwhile, Zignago Vetro has installed a new furnace at its Fossalta di Portogruaro facility, guaranteeing significantly improved sustainability and energy efficiency. This allows the Group to produce fewer emissions and make significant energy savings while producing an identical product.

The amount of energy consumed to produce a tonne of glass decreased by -2.4% compared to the previous year, and the Group intends to decrease this figure by an additional -13% by 2030. The share of electricity from renewable sources remained high at nearly 45% of the total, which is impressive considering the extremely challenging energy market context. We also made great progress in terms of water consumption in 2022: further investments and increasingly prudent industrial management allowed us to reduce our water consumption per tonne ofmolten glass by more than -36%, and we have confirmed some very ambitious strategic targets. The energy market, specifically the gas market, experienced severe tensions, threatening production disruptions due to supply interruptions. Despite these challenges, Zignago Vetro responded with its characteristic flexibility, redirecting energy sources to guarantee operational continuity. However, the ongoing situation did hinder our target of reducing CO₂ emissions per tonne of molten glass, which nevertheless remains a crucial long-term goal for the Group.

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 2022, which supports artists and the arts, including glass art. This involved sponsoring 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. We also devoted more time and attention to employee training and the prevention of work-related injuries.

To complement the above, we enlisted the help of external professionals to assess our progress towards the United Nations Sustainable Development Goals (SDGs). This enabled us to paint a clear picture of our progress towards these goals and the extent to which we have already accomplished them. This is an important activity that the Group wishes to continue, using the appropriate methodology to monitor its degree of consistency with the United Nations' SDGs over time.

In 2022, 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 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 2022. New ratings were awarded and existing ones upgraded, thus positioning 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 financialresults 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. Moreover, we have made every possible effort to fulfil our customers' needs, despite significant market tensions and strong demand for containers.

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 2022 are owed to our extraordinary, united, 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.

Roberto Cardini

CHIEF EXECUTIVE OFFICER

ZIGNAGOVETRO| Sustainabilityreport2022

1.0Lettertothestakeholders

2.0 Methodological note and reporting scope

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

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

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.

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

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

• - Italian Glass Moulds, which operates in Italy and manufactures moulds for hollow glass containers. It was acquired by the Group in October 2022 and its non-financial KPIs for the subsequent portion of 2022 are not considered significant.

Zignago Vetro S.p.A. the parent company

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

FOSSALTA DI PORTOGRUARO, ITALY EMPOLI, ITALY

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".

Zignago Vetro Brosse S.A.S.

VIEUX ROUEN SUR BRESLE, FRANCE

Zignago Vetro Polska S.A.

PILAWA, POLAND

Vetro Revet S.r.l.

EMPOLI, ITALY

The annual reporting period runs from January 1, 2022 to December 31, 2022.

Zignago Vetro S.p.A. prepared this Sustainability Report in accordance with the GRI Standards for the period from January 1, 2022 to December 31, 2022.

The reporting company is Zignago Vetro S.p.A., with registered office at Via Ita Marzotto 8 in Fossalta di Portogruaro (Venice). Zignago Vetro S.p.A. is a private joint-stock company listed on the Euronext STAR Milan market.

The executive responsible for drafting this report is Roberto Celot, Chief Financial Officer of the Zignago Vetro S.p.A. Group.

As recommended by GRI 1 (2021), the 2022 Sustainability Report and related KPIs present data and information from the 2020 and 2021 reports that have not been subject to restatement.

This document is subject to external assurance by KPMG S.p.A.

This Zignago Vetro Sustainability Report performs the function of a Consolidated Non-Financial Statement pursuant to Legislative Decree No. 254 of December 30, 2016. It complies with the GRI Standards - using the "In Accordance with GRI Standards" option - issued by the Global Reporting Initiative (GRI) and applicable to NFS' published after January 1, 2023.

The GRI Standards require the Sustainability Report to contain information relating to material topics that reflect the reporting organisation's significant economic, environmental and social impacts or those that substantively influence the assessments and decisions of stakeholders.

The process of collecting data and information for this Report has been managed in collaboration with the various company divisions with the aim of facilitating a clear and precise indication of the information considered significant for stakeholders in accordance with the GRI Standards' reporting principles of "balance, comparability, accuracy, timeliness, clarity and reliability". Unless otherwise indicated, the data and information in this Sustainability Report refer to the companies belonging to Zignago Vetro Group at December 31, 2022, fully consolidated within the Annual Financial Report.

Figures relating to previous years are shown purely for comparative purposes, in order to allow for an assessment of the performance of the Group's activities over the medium term. Furthermore, any estimates used in quantitative information reported in this document have been appropriately indicated in the various sections.

The 2022 Sustainability Report is our means for communicating the annual results of the Zignago Vetro Sustainability program to its own stakeholders.

This document was prepared using the "Global Reporting Initiative Sustainability Reporting Standards" (hereinafter GRI Standards) issued by the "Global Reporting Initiative" as a technical-methodological reference. These standards are integrated with the Sustainable Development Goals, or SDGs, developed with the UN's 2030 Agenda.

1979

Portogruaro Facility: F&B + C&P

1987

Acquisition of the Empoli facility: F&B

1994

Acquisition of facilities for the production of special containers

1995 then merged into Vetri Speciali

2002

Acquisition of Zignago Vetro Brosse in France: luxury perfumery

2004

Restructuring of the "specialty glass" sector

2007

Listing on the Italian Stock Exchange

2011

Acquisition of Zignago Vetro Polska in Poland: C&P + F&B

2013

Vetreco: cullet recycling

2015

Zignago Glass USA Inc.

2017

Vetro Revet: cullet recycling

2019

Julia Vitrum: cullet recycling

2022

Italian Glass Moulds: production and regeneration of moulds for hollow glass containers

ZIGNAGOVETRO| Sustainabilityreport2022

2.0Methodologicalnoteandreportingscope