CHAIRMAN S LETTER

Dear shareholders, summarising what has been done in one year is never easy, but it is certainly important in order to properly evaluate the progress that has been made. And it is crucial to do it together with all of you.

Our financial results in 2021 were exceptional despite the difficulties associated with the pandemic. The Moncler Group ex- ceeded two billion euro in revenues up 28% over the pre-pandem- ic period, with more than 410 million euro in net profit and 730 million euro in cash.

Yet numbers, these numbers, are not just the result of ac- tions; they prove the soundness and clarity of our strategic vision.

On 1 April we became a Group: Moncler and Stone Island. Two Italian families, two histories, two unique brands have joined forces to form a Group, which has its founding values in the re- spect and protection of the uniqueness of its brands and in the recognition that strength can only come through a contamination of knowledge and know-how. In recent months, our people have started working together, and they have done so with great energy and commitment. I was able to know and admire the Stone Island team, in which I found unique skills, and at the same time I got con- firmation of the great professionalism of Moncler s people, always ready to serve the Group.

It was also an important year because we completed the in-sourcing of Moncler s e-commerce site. This is a fundamen- tal step in enhancing our digital culture and preparing for the challenges that lie ahead. We know that an omnichannel vision powered and supported by digital is essential to enhance the uniqueness of our brands and continuously engage our commu- nities. We also opened major stores in many parts of the world, in- cluding the Chengdu and the Milan Galleria flagship stores, with a focus on connecting with our younger clients.

In September, Moncler launched a highly innovative phys- ical and digital show Mondogenius which brought audiences into the Brand s cultural evolution through five cities, 11 different creative visions and the 2021 Moncler Genius collections: Mon- cler changed luxury before & it s about to do it again, has been written of Mondogenius.

In recent months, we have continued to make sustainabil- ity a cornerstone of the Group s strategy. This has enabled us to achieve in 2021 major milestones and awards. We are proud of the progress that we have made even though we know there is much more to be done.

Finally, I would like to thank our Board of Directors, who have guided and supported us throughout this term. It is because of them and all of you, who constantly stimulate and support us that we are able to work each day to make our many projects a re- ality and our future plans even more challenging and ambitious.

Thank you!

Remo Ruffini Chairman and Ceo

BOARD OF DIRECTORS REPORT18 19 MONCLER GROUP

2021BOARD OF DIRECTORS REPORT