HUMAN CAPITAL

The Moncler Group has always believed that human capital is a crucial resource for creating long-term value and has invested attention, energy and resources in selecting the best talents, in encouraging professional and personal growth and in promoting welfare within the Company.

The Group has clear policies in place to provide a healthy, safe working environment, which is stimulating and rewards merit, where each person feels free to best express its abilities, poten- tial and talent and where everyone s diversity is valued. Welcoming everyone, always valuing diversity and free expres- sion are integral aspects of the Group s culture and crucial to its growth and business model. Moncler thrives in a multicultural en- vironment and engages in dialogue with all generations and cul- tures, aware that diversity is an essential factor for success.

Also important in this regard was the activity carried out immediately with the Stone Island s people who joined the Group since 1 April 2021 and were gradually integrated into the main hu- man resources processes, incentive plans, training and profes- sional development activities.

DE&I

The definition of a specific agenda for diversity, equality and inclusion was another im- portant step taken in 2021. Governance was defined in the first half of the year. The Moncler DE&I Council, led by the Chief Corporate Strategy & Communication Officer and sponsored by the Chairman, involves the participation of some of the Group s strategic functions: the Chief Brand Officer of Moncler, the Chief People & Organisation Officer, all the regional Chairmen and the Art Director of Stone Island. The Council is in charge of laying down the vision and strategy and ensuring compliance with the Group s objectives and commitments; it also acts as a liaison with regional Councils through their Chairmen.

The Council s proposals are validated by the Strategic Committee. The DE&I Oper- ational Team, composed of representatives of the main functions and regions, is responsible for implementing the strategy, executing the action plan, setting KPIs and targets and ensuring a connection between the central and regional Councils. The Operational Team then developed the project, which consisted of three phases: 1. Assessment phase: highlighting of the clear strengths (a sense of belonging,

awareness of its contribution to the success of the Company and strong interper- sonal bonds) and some areas for improvement (strengthening protective mechanisms, greater opportunities for exchange and development of teambuild- ing and mentorship programs) through a series of 1:1 interviews, focus groups and an inclusion survey conducted within Moncler at a global level;

2. Envisioning phase: identification of the objectives the Group aims to pursue to respond to the requirements that emerged during the assessment phase;

3. Action phase: definition of a comprehensive global action plan.

The search for best talents worldwide and the ability to retain them have always been at the top of the Group s business agenda. It is the opportunity to work in an international, dynamic, multicultur- al and meritocratic environment, together with Moncler s strong commitment to sustainable development, that are key elements in the process of attracting talents, especially among younger generations. The Group needs their strong technical, profession- al and managerial skills, as well as passion, dynamism, flexibility, vision, strive for innovation and harmony with the Group s values.

To identify top talents, since many years, Moncler adopted a performance evaluation system that measures the skills demon- strated in achieving assigned objectives and is now gradually im- plementing this system at Stone Island as well.

Knowledge, problem-solving and impact on the business are the meta-dimensions taken into account by the evaluation model underlying the remuneration review process, providing it with a solid basis of fairness, equal opportunities, meritocracy and competitiveness with the market.

The REMUNERATION SYSTEM includes: short-term variable remuneration systems, such as annual

MBO (Management by Objectives) for Executives, Manag- ers and Professionals, primarily based on the achievement of measurable economic, qualitative and quantitative tar- gets linked to activities and strategic processes of the busi- ness, according to Balanced Scorecard principles. All those involved in implementing the Sustainability Plan are as- signed, in the MBO system, with social or environmental objectives related to the implementation of the Plan. Risk management indicators are also included in the schemes, with the aim of spreading a culture of risk assessment and management in decision-making;

team and individual sales commission systems that reward excellence, quality service and business development for the employees of the distribution network;

long-term incentive systems, such as Performance Share plans, for top management and key roles, which express a particular impact on the business, regardless of the or- ganisational level. These systems are linked to long-term performance conditions and to ESG indicators witnessing management s commitment to sustainability issues. The long-term incentive systems are an important component of the pay mix, and even represent the predominant part of Total Compensation at top management level.

All of Moncler s variable remuneration systems are designed to encourage the achievement of distinctive results through mecha- nisms that reward overperformance by increasing the value of the bonus that can be obtained, starting from a certain threshold, if the assigned objectives are exceeded.

The remuneration package offered to employees is com- pleted by a series of benefits, which include life insurance, pen- sion and welfare plans, and information and prevention programs. In addition, in 2021, employees in Italy requiring medical advice for pre-existing or new disorders had access to a telemedicine service launched in November 2020 with the San Raffaele Hospi- tal in Milan. In 2021 another agreement was reached with the San Raffaele Hospital to allow access to a series of services includ- ing visits, examinations and home services (for example labora- tory and X-ray tests).

In the area of international mobility increasingly a pillar for the development of individuals and the Group s success Mon- cler has adopted a Global Mobility Policy, which defines the Com- pany s commitments to ensure a fair, competitive, supportive and consistent economic treatment of expatriates at the global level.

Investment in young people, which has always been a dis- tinctive trait of Moncler, is also reflected in the large number of internship contracts transformed into employment contracts. In Italy, where the highest number of interns is concentrated, 35% of those concluded in 2021 led to actual employment contracts.

TRAINING plays a key role in the process of enhancement of the potential of individuals. It is fundamental to develop and consol- idate individual skills to encourage the constant upskilling of key knowledge necessary to support a constantly changing business.

BOARD OF DIRECTORS REPORT40 41 MONCLER GROUP

2021BOARD OF DIRECTORS REPORT