SEPARATE FINANCIAL STATEMENTS192 193SEPARATE FINANCIAL STATEMENTS MONCLER GROUP

2021

4.3 PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT

(Euro/000) 2021 2020 Gross value Accumulated Net value Net value depreciation and impairment Land and buildings 7,160 (739) 6,421 1,189 Plant and Equipment 123 (110) 13 0 Fixtures and fittings 234 (146) 88 0 Leasehold improvements 106 (27) 79 2 Other fixed assets 833 (503) 330 194 Assets in progress 26 0 26 16 Total 8,482 (1,525) 6,957 1,401

The changes in property, plant and equipment for 2021 and 2020 is included in the following tables:

As at 31 December 2021

GROSS VALUE PROPERTY, PLANT AND EQUIPMENT

(Euro/000) Land and Plant and Fixtures Leasehold Other Assets in progress Total buildings Equipment and fittings improvements fixed assets and advances 1 January 2021 1,629 5 0 4 459 16 2,113 SPW Incorporation 4,792 118 234 102 91 0 5,337 Acquisitions 1,384 0 0 0 288 33 1,705 Disposals (645) 0 0 0 (12) 0 (657) Other movements, 0 0 0 0 7 (23) (16) including transfers 31 December 2021 7,160 123 234 106 833 26 8,482

ACCUMULATED DEPRECIATION AND IMPAIRMENT PPE

(Euro/000) Land and Plant and Fixtures Leasehold Other Assets in progress Total buildings Equipment and fittings improvements fixed assets and advances 1 January 2021 (440) (5) 0 (2) (265) 0 (712) SPW Incorporation (41) (105) (146) (24) (87) 0 (403) Depreciation (461) 0 0 (1) (163) 0 (625) Disposals 203 0 0 0 12 0 215 Other movements, 0 0 0 0 0 0 0 including transfers 31 December 2021 (739) (110) (146) (27) (503) 0 (1,525) As at 31 December 2020

GROSS VALUE PROPERTY, PLANT AND EQUIPMENT

(Euro/000) Land and Plant and Fixtures Leasehold Other Assets in progress Total buildings Equipment and fittings improvements fixed assets and advances 1 January 2020 1,710 5 0 4 295 108 2,122 Acquisitions 119 0 0 0 164 92 375 Disposals (200) 0 0 0 0 0 (200) Other movements, 0 0 0 0 0 (184) (184) including transfers 31 December 2020 1,629 5 0 4 459 16 2,113

ACCUMULATED DEPRECIATION AND IMPAIRMENT PPE

(Euro/000) Land and Plant and Fixtures Leasehold Other Assets in progress Total buildings Equipment and fittings improvements fixed assets and advances 1 January 2020 (228) (5) 0 (1) (171) 0 (405) Depreciation (315) 0 0 (1) (94) 0 (410) Disposals 103 0 0 0 0 0 103 Other movements, 0 0 0 0 0 0 0 including transfers 31 December 2020 (440) (5) 0 (2) (265) 0 (712)

The changes related to the right of use assets arising from the ap- plication of the IFRS 16 are reported here below:

RIGHT OF USE ASSETS

(Euro/000) Land and Other fixed Total buildings assets 1 January 2021 1,189 94 1,283 Acquisitions 1,384 288 1,672 Disposals (442) 0 (442) Depreciation (461) (123) (584) SPW Incorporation 4,751 0 4,751 31 December 2021 6,421 259 6,680

4.4 INVESTMENTS IN SUBSIDIARIES

Investments in subsidiaries are detailed in the following table:

INVESTMENTS IN SUBSIDIARIES

(Euro/000) Country % ownership Carrying amount 31 December 2021 31 December 2020 31 December 2021 31 December 2020 Industries S.p.A. Italy 100% 100% 332,772 312,663 Sportswear Italy 100% 0% 591,898 0 Company S.p.A. Total 924,670 312,663

Financial information related to the subsidiaries are detailed in the following table:

SUMMARY OF SUBSIDIARY S FINANCIAL INFORMATION

(Euro/000) 31 December 2021 Assets Liabilities Net equity Revenues Profit/(Loss) Industries S.p.A. 1,730,773 799,962 930,811 1,081,382 92,061 Sportswear 272,964 98,256 174,708 317,951 62,703 Company S.p.A. Total 2,003,737 898,218 1,105,519 1,399,333 154,764

SUMMARY OF SUBSIDIARY S FINANCIAL INFORMATION

(Euro/000) 31 December 2020 Assets Liabilities Net equity Revenues Profit/(Loss) Industries S.p.A. 1,444,336 611,970 832,366 933,489 57,663 Total 1,444,336 611,970 832,366 933,489 57,663

The carrying amounts of the investments in Industries S.p.A. and Sportswear Company S.p.A. also include the greater value rec- ognised upon their acquisition (2008 and 2021), allocated to the goodwill associated with the Moncler and the Stone Island busi- nesses, respectively. At the reporting date, management found that there were no risks of impairment of the amounts recognised, based on the perfor- mance of the Moncler and Stone Island businesses and expec- tations of the development plans. These considerations are also supported by the impairment tests carried out on the Moncler and Stone Island business cash generating units described in the Moncler Group s consolidated financial statements. The increase in the value of the investment in Industries S.p.A. was due to the accounting treatment of the stock option and performance share plans adopted by the Company and described in section 8.2.

Furthermore, the market capitalisation of the Company, based on the average price of Moncler share in 2021, shows a positive difference with respect to the net equity, indirectly con- firming the value of the goodwill.

Please refer to the Consolidated Financial Statements for a complete list of the Group companies directly and indirectly con- trolled by the Company.