approved the Diversity Policy. It describes the characteristics considered optimal for their composition, with the aim of integrat- ing diverse professional profiles to combine with the diversity of gender, age groups and seniority of the members of the bodies. Ahead of the renewal of the Board that will be submitted to the Shareholders Meeting of 21 April 2022, the Board has reviewed and updated the Policy also taking into account the results of the self-assessment activity (Board Review).

RELATED-PARTY TRANSACTIONS

Information relating to related party transactions are provided in Note 10.1 to the Consolidated Financial Statements and Note 8.1 to the Separate Financial Statements.

ATYPICAL AND/OR UNUSUAL TRANSACTIONS

There are no positions or transactions deriving from atypical and/or unusual transactions that could have a significant impact on the results and financial position of the Group and the Parent Company.

TREASURY SHARES

Moncler owns 4,106,680 Company shares at 31 December 2021, equal to 1.5% of the current share capital.

SIGNIFICANT EVENTS OCCURRED DURING THE FINANCIAL YEAR 2021

INTEGRATION OF STONE ISLAND INTO MONCLER S.P.A. In the first quarter of 2021 the activities aimed at finalising the aggregation of Sportswear Company S.p.A. ( SPW ), that holds Stone Island brand, in Moncler S.p.A., continued, as already an- nounced to the market on 7 December 2020. More specifically, on 23 February 2021, in line with the provision of the framework agreement executed on 6 December 2020 between the Compa- ny and the SPW s shareholders referable to the Rivetti family (the Rivetti Shareholders ), Moncler, the Rivetti Shareholders and Venezio Investments Pte Ltd (vehicle fully indirectly controlled by Temasek Holdings (Private) Limited) ( Venezio ) signed the contractual documentation aimed at the purchase of the 100% of SPW s share capital by Moncler S.p.A.

On 25 March 2021 the Extraordinary Shareholders Meeting of Moncler S.p.A. approved the proposal to increase the share cap- ital against payment with exclusion of the pre-emptive right pur- suant to Article 2441, paragraphs 5 and 6, of the Italian Civil Code, reserved for subscription to the Rivetti Shareholders and Venezio. As a result of the subscription and payment of the reserved share capital increase (a) Rivetex S.r.l. (a company referable to Carlo Rivetti) received no. 7,680,413 shares; (b) Mattia Rivetti Riccar- di received no. 779,732 shares; (c) Ginevra Alexandra Shapiro received no. 779,732 shares; (d) Pietro Brando Shapiro received no. 779,732 shares; (e) Alessandro Gilberti received no. 711,507 shares; (f) Venezio received no. 4,599,050 shares. The essential information regarding the contractual documentation executed in the context of the transaction are available on Moncler website (www.monclergroup.com, Section Governance/Documents and procedures ).

On 31 March 2021 the acquisition of the entire share capital of SPW was completed and Carlo Rivetti was appointed as mem- ber of Moncler S.p.A. Board of Directors.

AMENDMENTS TO THE BY-LAWS The Extraordinary Shareholders Meeting held on 25 March 2021, in addition to having approved the capital increase serving the transaction, approved the single proposal of amendments to the By-laws of Moncler S.p.A.. In particular, the Shareholders Meet- ing resolved upon amending (i) Artt. 8 and 12 to delete the quo- rums to convene meetings and pass resolutions for the approval by the Extraordinary Shareholders Meeting of resolutions on cer- tain matters and application of quorums provided by applicable law; (ii) Art. 13 to replace the fixed number of directors (11 or 13), with the indication of a minimum number of 9 directors and a max- imum number of 15 directors, and to increase the number of in- dependent directors who shall be the majority of Board members.

DIVIDENDS On 22 April 2021, the Ordinary Shareholders Meeting approved the Moncler S.p.A Financial Statements for FY 2020 and approved the distribution of a gross dividend of EUR 0.45 per share.

COMPOSITION OF THE BOARD OF DIRECTORS On 22 April 2021, the Ordinary Shareholders Meeting, amending the resolution taken on 16 April 2019, which resolved to increase from 11 to 12 the number of members of the Board of Directors (which will remain in offi ce until the date of the Shareholders Meet- ing called for the approval of the fi nancial statements at 31 Decem- ber 2021) as well as to appoint Carlo Rivetti as a new Director.

On the same date, the Board of Directors of Moncler S.p.A., met following the Shareholders Meeting, and designated Carlo Rivetti as Manager with Strategic Responsibilities of the Moncler Group.

MONCLER JAPAN CORPORATION During the first quarter of 2021, Moncler acquired from its lo- cal partner (Yagi Tsusho Limited) the third tranche (representing 28.9% of the share capital) of its stake in Moncler Japan Corpora- tion for a net cash outlay of EUR 44.3 million. As a result of this ac- quisition, Moncler Group now owns a stake representing 94.9% of Moncler Japan Corporation.

2020 PERFORMANCE SHARES PLAN On 14 June 2021, the Board of Directors, having obtained the fa- vourable of the Nomination and Remuneration Committee, re- solved to implement a second attribution cycle of the plan called 2020 Performance Shares Plan approved by the Sharehold- ers Meeting on 11 June 2020, and consequently resolved the granting of 463,425 shares to 59 beneficiaries including also the Chairman and Chief Executive Officer Remo Ruffini, the Execu- tive Director, Roberto Eggs, and one Manager with Strategic Re- sponsibilities.

MALWARE ATTACK On 22 December 2021, Moncler detected an unauthorised ran- somware access on its IT systems (malware). The Group s securi- ty systems ensured the immediate identification of the attack and all necessary measures were taken to stop its spread, also with the support of technical consultants and legal experts in cybersecu- rity. During the forensic investigation, it was found that some data referring to employees and former employees, suppliers, consul- tants and business partners, as well as some customers registered in its database, have been illegally exfiltrated. The criminals made a ransom demand, which has been rejected by the Company.

All the relevant authorities have been promptly informed and, with the reference to the data breach, Moncler notified the Italian Data Protection Authority and foreign ones, where neces- sary. To date, the IT systems have been completely restored with- out compromising the integrity of data. The malware attack and the consequent system outage did not have a significant impact on the Group s economic results, despite having occurred in an important period for the Moncler business. In terms of costs, over EUR 2 million of extraordinary operating costs related to the mal- ware were accounted to date, in particular for reinforcement activ- ities of the Group s IT protection systems.

BOARD OF DIRECTORS REPORT78 79 MONCLER GROUP

2021BOARD OF DIRECTORS REPORT