FIGHT AGAINST CLIMATE CHANGE

The Moncler Group considers the fight against climate change as a priority and is committed both to reducing its carbon footprint and to mitigating the risks and potential effects that climate change may have on its activities.

Tackling climate change is a collective challenge that transcends corporate boundaries and includes the entire value chain, goes beyond national borders and involves all sectors, including companies, governments and

non-governmental organisations.

The Group’s climate strategy is based on a phased approach is constantly monitored and is subject to annual review.

In particular, the Moncler Group has committed to reducing, by 2030, absolute scope 1 and scope 2 CO₂e emissions by 70% (in line with the “1.5°C” ambition) and scope 3 CO₂e emissions by 52% per product unit sold compared with 2021 (in line with the “Well-Below 2°C” ambition).
These targets were formally approved by the Science-Based Targets initiative (SBTi)¹ and considered consistent with the contribution required by undertakings to limit the maximum increase in global temperatures compared with pre-industrial levels. In addition, the Group is monitoring the development of the

GHG Protocol Land Sector and Removals Guidance and the Forest, Land and Agriculture (FLAG) targets.

As part of the climate strategy, adopting renewable energy, improving operational efficiency and using “preferred” materials are some of the main levers to reduce greenhouse gas (GHG)² emissions, in accordance with the goals set by the United Nations 2030 Agenda for Sustainable Development (Sustainable Development Goals – SDGs).

The Group is also committed to achieving net

zero emissions³ throughout the entire value chain by 2050, in line with the efforts required under the Paris Agreement to limit the increase in global average temperature to 1.5°C. In this regard, the Group’s ambition will be structured into two complementary phases to be completed by 2050, in line with the Science Based Targets initiative:

• reduce scope 1, 2 and 3 GHG emissions by 90%;
• neutralise all residual emissions with carbon removals.

With this in mind, the Moncler Group is exploring which carbon removal projects and carbon storage activities could support its path toward achieving net zero.

Moncler is committed to reporting and communicating its impact on climate change and the results of mitigation activities in a

transparent way through the Sustainability Statement and the CDP Climate Change questionnaire.

Direct and indirect energy consumption at the Moncler Group’s sites is mainly due to production activities in Italy and Romania and to the Italian logistics hub in Castel San Giovanni (Piacenza), as well as to facility heating, air conditioning and lighting and the use of IT equipment at the

corporate offices and at the Moncler and Stone Island stores.

In 2024, the Moncler Group recorded energy consumption of 62,289 MWh at its sites, marking an increase of about 11%, due to an increase in

direct production, the acquisition and leasing of new buildings, an increase in the workforce (+9%) and the growth of Group’s direct store network. However, there was a decrease in total scope 1 and 2 emissions (market-based).

In order to reduce energy consumption and GHG emissions, the Moncler Group is implementing various activities at its directly managed sites (stores, offices, production sites and logistics hub):

• Use of electricity from renewable sources
The use of electricity from renewable sources is a key measure for the decarbonisation process of the Group’s direct operations.

In line with its commitments, since 2023 the Moncler Group has sourced electricity only from renewable sources for its directly managed corporate sites worldwide.

The Group achieved this result through:

• installation of photovoltaic panels: at the logistics hub in Castel San Giovanni (Piacenza), the photovoltaic system contributed to the generation of over 458 MWh of energy in 2024. Stone Island has also a photovoltaic system at its Ravarino (Modena) headquarters, which in 2024 contributed to the generation of about 38 MWh of energy;
• purchase of electricity from renewable sources: also in 2024 the Group continued to switch conventional energy supply contracts into renewable electricity contracts. In particular, during the year, the Group focused on the retail channel in the EMEA and Americas Region, managing to convert about 20 contracts by incorporating certified energy from renewable sources.
Where no renewable energy supply is available from the energy provider, the Group has continued to purchase Energy Attribute Certificates (EACs), including Guarantees of Origin (GOs), New Zealand Energy Certificates (NZECs), Non-Fossil Value Certificates (NFCs) and International Renewable Energy Certificates (I-RECs). The purchase cost of Energy Attribute Certificates is an integral part of the Group’s annual financial planning, which takes into account both potential expansions of the retail channel, and therefore an increase in energy consumption, and potential changes in the price of the certificates.

These initiatives have allowed the Group to keep the scope 2 (market-based) GHG emissions related to the consumption of purchased electricity at zero at all sites worldwide.

• Energy efficiency initiatives
With regards to energy efficiency, in 2024 the Moncler Group has also continued with the installation of low-consumption lighting systems and the optimisation of heating and of air conditioning systems.

At the Moncler corporate sites, in line with the previous years, refurbishment and installation of more efficient lighting systems continued, through the replacement of traditional lighting systems with Light-Emitting Diode (LED)¹⁷ bulbs and thermal insulation systems to ensure greater energy efficiency.
To date, the entire production site in Romania and the logistics hub in Castel San Giovanni (Piacenza) are equipped with LED systems. At the Milan headquarters, almost all lighting systems are more efficient than conventional systems, while at the corporate site in Trebaseleghe (Padua), approximately 90% of lighting systems are lower consumption ones. In addition, the renovation of the new Hub in Ravarino (Modena) continued and is expected to be completed in 2025, including the installation of both LED and heat pump heating systems.
Regarding stores, to date, more than 99%¹⁸ of Moncler stores worldwide (100% in the United States, South Korea, Japan and Europe) are equipped with LED lighting systems. The same type of system has also been planned by Stone Island worldwide, and will be installed in all new stores.

In line with previous years, also in 2024 the Group continued to implement activities aimed at renewing store electrical systems using new technologies that ensure energy-saving.
In this regard, since 2021 Moncler began equipping stores with Building Management Systems (BMSs) for the integrated management of all the technological functions of each space, from access control to lighting and air conditioning, with the aim of implementing more

efficient management of energy consumption.

• Leed and breem environmental certifications
Since 2021 the Group has initiated an environmental and energy certification process for its stores and all new corporate buildings according to the LEED standard. By adopting this certification, which requires the implementation of energy efficiency measures, the Group is committed to implementing best practices in energy management for each new project.

Since 2023, the Moncler Group has been committed to obtaining LEED certification for all new stores¹⁹.

Given this commitment, the Moncler Group currently has:
• eight stores certified according to the LEED standard for Building Operations and Maintenance and three stores under certification;
• 27 stores certified according to the LEED standard for Interior Design and Construction and 10 stores under certification.
As for the production sites, in 2023 the Group obtained the certification according to LEED standard for Building Design and Construction for the extension of the production site in Romania and started, in 2024, the process for the new knitwear factory in Padernello di Paese (Treviso).

Lastly, BREEAM In-Use certification (Excellent level) was obtained for the logistics hub in Castel San Giovanni (Piacenza), proving a more efficient management of the building and an energy and environmental performance improvement.

• Low environmental impact car fleet
During the year, the Group continued to introduce low environmental impact vehicles into its car fleet, exceeding its target and bringing the ratio of low-impact vehicles in its company fleet to 98%.

In 2024, the Group maintained carbon neutrality²⁰ for all directly managed sites worldwide.

To maintain climate neutrality, and in line with what was done over the past years, scope 1 and 2 (market-based) emissions were reduced (-6% compared with the previous year), while unavoidable residual emissions were compensated through three projects certified on the voluntary market and focused, respectively, on the circular economy and renewable energy.

The first project supported, certified according to Gold Standard, relates to the expansion of a highly energy efficient plastic waste recycling

plant in Romania. This initiative adds to the contribution towards the implementation of two projects that aim to increase access to energy from renewable sources: a photovoltaic plant, certified according to the Verified Carbon Standard, in the Mauritius islands, and an off-shore wind plant, certified according to the Gold Standard, in Vietnam. The three projects are important not only from an environmental point of view but also from a social perspective as they have created new job opportunities and raised awareness among local communities on environmental topics and the importance of recycling and of sustainable management of local resources.
To monitor the reduction and compensation of

greenhouse gas emissions at its sites, the Group on an annual basis:
• monitors the implementation of the Group guidelines for the procurement of renewable energy;
• collaborates with the relevant corporate departments to continuously identify areas for improvement in energy efficiency;
• monitors energy consumption and related CO₂ emissions using dedicated company tools and with the support of a consulting firm;
• collaborates with recognised partners to purchase renewable energy certificates (EACs) and CO₂ credits aligned to major international standards such as the Gold Standard or Verified Carbon Standard (VCS)

With reference to GHG emissions generated along the value chain, in 2024 the Group’s scope 3 emissions, calculated for all significant categories, amounted to approximately 227,986 tonnes of CO₂e, registering a decrease of approximately 5%²¹ in absolute terms compared with the previous year.

The GHG emissions generated by the production of raw materials, textile processing and production of finished garments represent about 72% of the Group’s scope 3 emissions. In 2024, Moncler continued the process of improving the completeness of the quality of the data included in emissions calculations thanks to the information collected through the traceability

process and the in-depth collection of data on suppliers’ energy consumption. The inclusion in the collections of “preferred” materials, such as nylon and polyester made from recycled raw materials and organic cotton, avoided about 10,000²² tonnes of CO₂e (for more details on the Group’s progress made on “preferred” materials). The Group expects that over the years these choices, along with the other activities taken on the chain will continue to contribute over the years to the reduction of GHG emissions in line with the commitments made under the SBTi.

In 2024, the emissions related to the Group’s

industrial and distribution logistics²³ amounted to approximately 23,329 tonnes of CO₂e²⁴, registering a reduction of more than 15% compared with the previous year, mainly thanks to the efforts made to optimise distribution logistics volumes and promote lower-impact means of transportation.

Emissions related to business travels and commuting recorded an increase compared with 2023 due to the growth in the number of Group employees.

Below are the scope 3 emissions for 2024 and 2023, broken down by the categories considered significant for the Group.

Due to the nature of its business model, in which production is mainly managed through suppliers, the Moncler Group’s most significant environmental impacts are indirect (scope 3), accounting for more than 98% of the Group’s total emissions. To reduce the indirect impact associated with the production and distribution of their products, and within the limits of their sphere of influence, Moncler and Stone Island encourage production and logistics partners to apply environmental best practices.

• “Preferred” materials
Among the raw materials used, including materials for finished products and packaging, wool and cotton are the main source of GHG emissions, followed by synthetic materials, such as nylon and polyester.

To reduce this impact, the Moncler Group has begun to replace virgin materials with alternatives from recycled, organic or regenerative agricultural origin that guarantee a reduction in terms of emissions generated and therefore represent a key lever of the Group’s climate strategy. This approach not only supports the Group’s commitment against climate change but also contributes to the mitigation of other environmental impacts.
In particular, Moncler Group has identified a set of intermediate targets to be achieved by 2025:
• 50% “preferred” nylon;
• 50% “preferred” cotton;
• 70% of wool certified to specific standards (e.g., Responsible Wool Standard – RWS, Nativa, Sustainawool).

The targets listed above contribute to reaching over 50% of yarns and fabrics from “preferred” materials in all collections by 2025.

In 2024, in particular, the Group used about 37% recycled or organic cotton, more than 50% “preferred” nylon (e.g., recycled) and about 70% certified wool, such as Responsible Wool Standard (RWS), Nativa and Sustainawool. Thanks to the purchase of these materials, with the exception of wool, for which an emission factor to account for the benefit of switching to a lower-impact solution has not yet been defined, the Group avoided emitting over 10,000 tonnes of CO₂e in 2024 compared with the purchase of the equivalent conventional raw materials.

In addition, in 2024 the Group published the Raw Material Manual, which outlines the criteria and thresholds to guide the choice of materials and accessories with the lower environmental impact and in line with best practices on animal welfare. All key raw materials are in line with what is defined in the Manual.

The Moncler Group is also committed to reduce the consumption of packaging materials and to research and apply lower impact alternatives. In recent years, the Group has launched a series of programmes for improving packaging design, focused mainly on recyclability, re-usability³⁵ and ability to last over time, as well as on reducing the materials used.
Since 2022, the packaging intended for the end client has been made with “preferred” and the same applies to the logistics packaging starting from 2023.

• Regenerative agriculture
Since 2023, the Moncler Group has supported projects dedicated to regenerative agriculture practices along the cotton and wool supply chains, with mitigation effects on both GHG emissions and impacts on biodiversity, and the implementation of new impact measurement methodologies in line with the latest reference standards. In particular, among the projects launched on the cotton supply chain, the Group has joined a project of regenerative agriculture developed in Tennessee in collaboration with Ecosystem Services Market Consortium (ESMC³⁶) on around 200 hectares that has enabled the removal of approximately 100 tonnes of CO₂e from the atmosphere. The impacts of the project were verified and certified by SustainCERT³⁷ during 2024.

Regarding the wool supply chain, a project was launched in Australia in 2023 together with PUR Projet³⁸, which was extended in 2024 to include two additional farms.
The Group continues to monitor the development of the GHG Protocol Land Sector and Removals Guidance and the SBTi FLAG (Forest, Land and Agriculture) in order to include the assessment of the positive impacts of these projects in its reporting. In this regard, in 2024, the Group calculated its FLAG emissions, which represent more than 20% of the total scope 3.

• Decarbonisation of the supply chain
The Group actively collaborates with its suppliers to monitor energy consumption and define targets and plans aimed at reducing their carbon footprint.
In recent years, it began mapping energy consumption and the type of energy used along the supply chain in order to integrate primary data from production processes into the Group’s carbon footprint and identify, together with its suppliers, opportunities for energy efficiency

improvements and for the transition to energy from renewable sources.
This activity continued in 2024, with the collection and integration of primary data relating to energy consumption and the type of energy used at over 115 production sites of direct suppliers and their sub-suppliers. To date, around 30% of the electricity consumed at these sites comes from renewable sources. In particular, 44 of these production sites have photovoltaic systems.
This process, supported by external partners for the data verification phase, allows the Group to improve the quality of the data used in calculations of environmental impacts and to monitor over time the virtuous actions implemented by its suppliers.
In 2024, thanks to the consultancy support financed by the Group, some suppliers implemented energy efficiency measures identified during the energy assessments, while others started the transition to the use of electricity from renewable sources.
During the year, collaboration was also intensified with a selected group of suppliers, through an awareness campaign that promotes the adoption of best industry practices, the definition of emission reduction targets and the increased use of renewable energy. Given this commitment, the Group has become a partner of the Apparel Impact Institute (AII).
Looking forward, the Group will continue to work with suppliers with more energy intensive processes (for example dyeing or finishing) to encourage them to implement energy efficiency programmes.
To further strengthen this approach, in 2024 the Moncler Group set up a Committee dedicated to overseeing the supply chain decarbonisation programme. Composed of key figures from top management, Purchasing & Procurement team managers, the Sustainable Supply Chain team and the Sustainability Unit, the Committee combines strategic and operational expertise, ensuring an integrated and multidisciplinary approach. Among others, its main responsibilities include guiding the supplier engagement strategy for emissions reduction, overseeing the activities implemented and monitoring progress, in order to ensure the achievement of the Group’s decarbonisation targets. This body represents a fundamental pillar in promoting an effective energy transition throughout the supply chain, favouring collaboration between corporate functions and suppliers.

The Group has put in place a series of measures to mitigate the effects of the theoretical risk deriving from the intensification of extreme and chronic weather phenomena (for example heavy rainfall, heat or cold waves, drought phenomena, etc.), which could affect the physical sites, resulting in the potential interruption or reduction of production levels (operational continuity). In particular, it adopts insurance coverage aimed at limiting the economic impact deriving from any potential damage due to extreme weather phenomena and regularly assesses physical risks related to climate (for example, the exposure of the area to hydrogeological and geomorphological risks). Based on the results of the risk assessments, the Group adapts the design of its site in order to

minimise its exposure to the identified risks. In addition, the Group has defined action plans to deal quickly and effectively with any potential emergency situations relating to its logistics services in order to guarantee business continuity.

Compared with the risk associated with changes in the purchasing dynamics of clients with potential preferences for lower impact products or lighter garments, the Group has begun to introduce products with “preferred” materials into its collections for years, from the bio-based down jacket in 2019, to the range of garments created with recycled fabrics in the 2021 Moncler Grenoble collection and to the launch, in the Moncler collections, of a selection of

“Born To Protect” jackets, a project that became a total look in 2022, including sustainable garments and accessories. Currently, thanks to the collaboration of the Design, Fabric and Research and Development, and Operations and Merchandising teams, the Group is progressively integrating into the collections fabrics and yarns with a lower impact than conventional solutions (over 43% in the 2024 collections). In addition, Moncler has expanded the range of products over the years, including, along with other new categories (including t-shirts, sweatshirts, knitwear, shoes and other accessories) lightweight down jackets, which can be worn at milder temperatures, or multilayer solutions that offer more opportunities for use.