236 237 MONCLER GROUP
2021
,QWHUQDOFRQWURODQGULVNPDQDJHPHQWV\VWHP,&506PRQLWRULQJRIWKH ILQDQFLDODQGQRQILQDQFLDOUHSRUWLQJSURFHVVSRLQWVDQGRI&RQVRE &RPPXQLFDWLRQ1R
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
,&506DIWHUFRQVXOWLQJWKHFRQWURO5LVNV$QG6XVWDLQDELOLW\&RPPLWWHH LQWKLVUHJDUGUHIHUWRWKH5HSRUWRQ&RUSRUDWH*RYHUQDQFHDQG2ZQHUVKLS 6WUXFWXUH
LL H[DPLQHGWKHVHPLDQQXDOUHSRUWRIWKH&RQWURO5LVNV$QG6XVWDLQDELOLW\ &RPPLWWHHSURYLGHGWRDVVLVWWKH%RDUGRI'LUHFWRUV
LLL H[DPLQHGWKHGRFXPHQWVVXPPDULVLQJWKHDVVHVVPHQWRIWKHDGHTXDF\DQG HIILFDF\RIWKH,&506SUHSDUHGE\WKH,QWHUQDO$XGLW)XQFWLRQ
LY DWWHQGHG DOO WKH PHHWLQJV RI WKH &RQWURO 5LVNV DQG 6XVWDLQDELOLW\ &RPPLWWHH REWDLQLQJ LQIRUPDWLRQ DERXW DQ\ SURMHFW WKH &RPPLWWHH FRQVLGHUHGDSSURSULDWHWRDUUDQJHRUUHTXHVWLQUHVSRQVHWRVSHFLILFLVVXHV
Y REWDLQHG NQRZOHGJH RI WKH WUHQG LQ WKH RUJDQLVDWLRQDO VWUXFWXUHV DQG DFWLYLWLHVSHUIRUPHGE\WKH,QWHUQDO$XGLWDQG&RPSOLDQFH)XQFWLRQV
YL H[DPLQHG WKH UHSRUWV RQ WKH ZRUN GRQH E\ WKH ,QWHUQDO $XGLW DQG &RPSOLDQFH)XQFWLRQVZKLFKZHUHEURXJKWWRWKHDWWHQWLRQRIWKH&RQWURO 5LVNVDQG6XVWDLQDELOLW\&RPPLWWHHDQGRIWKH%RDUGRI'LUHFWRUV
YLL YHULILHGWKHDXWRQRP\LQGHSHQGHQFHDQGIXQFWLRQDOLW\RIWKH,QWHUQDO$XGLW )XQFWLRQDQGPDLQWDLQHGDQGLPSOHPHQWHGDGHTXDWHUHJXODUFRQQHFWLRQV ZLWKWKDWIXQFWLRQ
YLLL H[DPLQHGWKH$XGLW3ODQSUHSDUHGE\,QWHUQDO$XGLWDQGDSSURYHGE\WKH %RDUGRI'LUHFWRUVREVHUYHGWKHFRPSOLDQFHZLWKWKH3ODQDQGUHFHLYHG LQIRUPDWLRQRQWKHUHVXOWVRIWKHDXGLWVDQGRQWKHHIIHFWLYHLPSOHPHQWDWLRQ RIDQ\PLWLJDWLQJRUFRUUHFWLYHDFWLRQV
L[ REWDLQHGLQIRUPDWLRQDERXWWKHFKDQJHVWRWKHVHWRI*URXSSURFHGXUHV [ H[DPLQHGWKHXSGDWHGDXGLWSODQDQGFRPSOLDQFHSODQGXULQJWKHILQDQFLDO
\HDULQYLHZRIWKHFRQWLQXDWLRQRIWKHSDQGHPLFDQGDOVRFRQVLGHULQJWKH ULVNDVVHVVPHQWFDUULHGRXWZLWKUHVSHFWWRWKHDVVRFLDWHGULVNSURILOHV
[L REWDLQHGLQIRUPDWLRQDERXWWKHXSGDWHG&RYLGSURWRFROVDQGJXLGHOLQHV DGRSWHGE\0RQFOHUIRUWKHVDIHPDQDJHPHQWRIRSHUDWLRQVDWWKHFRUSRUDWH RIILFHVDQGLQDOO*URXSVWRUHV
,QWKHFRQWH[WRIWKH,&506¶VVXSHUYLVRU\DFWLYLWLHVZLWKVSHFLILFUHJDUGWR,7DQG F\EHUVHFXULW\WKH%RDUGDFNQRZOHGJHGWKHDFWLRQVRXWOLQHGE\WKH&RPSDQ\WR FRQWURO WKHVHDVSHFWVDQGPRQLWRUHG WKH LPSOHPHQWDWLRQ ,Q2FWREHU WKH F\EHUVHFXULW\IUDPHZRUNRI0RQFOHUDQGRI WKH*URXSZDVUHYLHZHGZLWKWKH DVVLVWDQFHRIH[WHUQDOFRQVXOWDQWVDOVRLQYLHZRIWKHDFTXLVLWLRQRIFRQWURORI63: LQRUGHUWRLGHQWLI\DQ\UHLQIRUFHPHQWDFWLRQV 7KHPDOZDUHDWWDFNRQWKH0RQFOHU*URXS¶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