DOW JONES SUSTAINABILITY INDICES WORLD AND EUROPE Moncler has been confirmed for the third year in a row in the Dow Jones Sustainability Indices DJSI World and Europe, obtain- ing the highest score (89/100) of the Textiles, Apparel & Luxury Goods industry according to the S&P Global Corporate Sustain- ability Assessment 2021.

MSCI In 2021, Moncler was rated A by MSCI ESG Research that pro- vides ratings on global public companies and a limited number of private companies on a scale of AAA (leader) to CCC, according to exposure to industry-specific ESG risks and the ability to manage those risks relative to peers.

CDP In 2021, for the first time, Moncler disclosed its climate change impact through CDP Climate Change questionnaire, a global non-profit organisation that runs the world s leading environmen- tal disclosure platform. The Group has achieved the leadership level with an A- score for its environmental transparency and ac- tions to mitigate climate risks.

SIGNIFICANT EVENTS OCCURRED AFTER THE REPORTING DATE

STONE ISLAND KOREA Starting from 1 January 2022, the distribution of the Stone Island brand in the Korean market has been internalised through the es- tablishment of a joint venture with a local partner, in which the Group holds 51%.

SUSTAINALYTICS In January 2022, Moncler obtained the Industry Top-Rated Badge as well as for the Regional Top-Rated Badge from Sustainalytics, a leading research and ESG and Corporate Governance rating com- pany that supports investors in the development and implemen- tation of responsible investment strategies.

SHARES BUY-BACK PROGRAM On 3 March 2022, Moncler S.p.A. announced the launch, start- ing from 4 March 2022, of a buy-back program up to 1,000,000 of its ordinary shares (equal to the 0.4% of its share capital), for a maximum countervalue of EUR 56 million, without a par value, in execution of the shareholders meeting resolution dated 22 April 2021, pursuant to Arts. 2357 and 2357-ter of the Italian Civil Code.

The buy-back program s purpose is to meet obligations arising from stock-based incentives schemes or other allocations of shares to employees, members of the Board of Directors and consultants of Moncler and of its subsidiaries, within the param- eters prescribed by the Market Abuse Regulation (EU) 596/2014, the Commission Delegated Regulation (EUR) 2016/1052 and Consob regulation no. 11971/1999 and in compliance with all pa- rameters (including prices and daily volumes), terms and condi- tions resolved upon by Moncler Shareholders Meeting held on 22 April 2021 and publicly available.

At the date of the approval of the Draft Consolidated Re- sults, the program is still ongoing.

GEOPOLITICAL UPDATE With reference to the conflict in Ukraine started on 24 February, Moncler Group s management confirms that both the store in Kiev and all commercial activities in Russia have also been temporarily closed. The Group is present in the two countries with dedicated e-commerce, and for the brand Moncler with two directly operated stores (DOS) and three wholesale mono-brand stores (SiS). More- over, the Group has around 100 multi-brand wholesale doors.

The total exposure to the two countries in FY 2021 in- cluding revenues generated by Russian tourists buying outside Russia was less than 2% of the Group s revenues. Although the uncertainty regarding the development of the situation and its possible impacts on global economies remains very high, signifi- cant consequences on FY 2022 results are currently not foreseen.

With regard to its supply chain, Moncler Group specifi es that it does not purchase raw materials in Ukraine or Russia, nor use third-par- ties producers based there. At the date of the approval of the Draft Consolidated Results, both the direct production site located in Ba- cau, Romania, and all third-party manufacturers based in neighbor- ing areas are operating without any disruption due to the confl ict in Ukraine. Moreover, whilst at logistics level the current situation could have an impact on the transportation systems and might lead to delays in the shipments of goods, there are currently no signifi - cant issues. Regarding the rising of the production costs, not only linked to the geopolitical situation, and to the potential increase in logistics costs, the Group confi rms that at the moment it does not expect any impact on profi tability for FY 2022.

In Russia and Ukraine, Moncler employs 19 people with whom it is in constant contact to ensure all necessary support is being provided. In particular, with regards to its employees in Ukraine that have decided to leave the country, the Group is pro- viding economic and organizational aids.

The Moncler Group also supports UNHCR, the United Na- tions High Commissioner for Refugees which protects and as- sists refugees around the world, and other organizations active in the area.

BUSINESS OUTLOOK

Despite the continuing uncertainty on the geopolitical, economic and health front, the Moncler Group believes it has a portfolio of unique brands and a clear and effective strategy to continue to grow in 2022.

These are the main strategic lines of development.

STRENGTHENING OF ALL MONCLER BRAND DIMENSIONS. 2022 will be an important year for Moncler in which the devel- opment lines will be defined based on the strengthening of the three dimensions of the Brand: Moncler Collections, Moncler Ge- nius and Moncler Grenoble. Moncler will also continue to consoli- date its omnichannel approach supported by the digital business through many initiatives, also related to the celebration of the 70th anniversary of the Brand, aimed at strengthening the Brand s unique relationship with its customers and increasing knowledge and loyalty.

DEVELOPMENT OF THE STONE ISLAND BRAND AT INTERNATIONAL LEVEL AND IN THE DTC. During the year 2022, Stone Island will continue its path towards the internalisation of markets still managed by distributors, start- ing with Korea (run from 1/1/2022 by a joint venture of which Stone Island holds a majority stake), the strengthening of core markets, such as the European ones, and the penetration of less mature markets but with high potentials such as North America and China. The expansion of Stone Island in the Direct-To-Con- sumer (DTC) channel will also continue not only with selected DOS openings but also by researching with a new store design, and with targeted clienteling and communication strategies distinc- tive and unique languages to strengthen the unique positioning of the Brand, which has the culture of research and experimentation in its own identification and value matrix.

SUSTAINABLE AND RESPONSIBLE GROWTH. The Moncler Group believes in sustainable, responsible, long- term development, in pursuit of shared value that meets the ex- pectations of its stakeholders. Its Sustainability Plan is built on five strategic priorities: climate action, circular economy and in- novation, fair sourcing, enhancing diversity, and giving back to local communities. In 2022, Moncler is committed to reach the tar- get communicated in the 2020-2025 plan.

PERVASIVE DIGITAL CULTURE. Developing and implementing its strategy digitally is an increas- ingly important goal for a Group that believes in a Digital First approach. Everything from the conceptualisation of collections to product development and event designing must be actioned with digital platforms as the first point of contact, before extending to other channels.

BOARD OF DIRECTORS REPORT80 81 MONCLER GROUP

2021BOARD OF DIRECTORS REPORT