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Moncler has adopted an integrated Enterprise Risk Management (ERM) system based on international best practices. The system involves the governance bodies, each with regard to their respective competences.

In line with guidance and best practice in the field, the main objective of ERM is to ensure the effective identification, measurement, management and monitoring of risks.

The ERM system covers all types of risk that can potentially affect the achievement of strategic objectives, impair company assets or undermine the value of the brand. ERM is incorporated into strategic decisions and key decision-making processes.

The risks identified may be of an internal or external nature to the Company. External risks are tied to situations in the sector or market, but may also be connected to the perception stakeholders have of Moncler’s way to operate.

Moncler’s ERM system categorizes risks into four classes:

Strategic Risks: Strategic Risks encompass changes in business or an inadequate response to changes in the competitive playing field. Sustainability risks fall within this class of risk;

Business Risks: Business risks are connected with the sector of reference and company operations;

Business Support Risks: concern the organisational structure, control processes and IT and reporting systems of the Group;

Compliance and Integrity Risks: are connected with breaches of internal procedures or laws and regulations applicable to company operations at the national or international level.

Each class of risk is assigned a risk owner, tasked with overseeing relative risk factors, the proper functioning of controls and the implementation or improvement of mitigation actions.

All these risks and relative mitigation actions are recorded in a Risks Register. The register is updated regularly in concert with risk owners, on the basis of an annual plan approved by the Board of Directors, with the support of the Control, Risks and Sustainability Committee.

The proposed plan is periodically updated to include any new elements of risk or to take into account any increased likeli- hood or impact of a risk arising.

Mr. Sergio Bongiovanni is the Executive Director appointed to monitor the Internal Control and Risk Management System.

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