MANAGEMENT AND DEVELOPMENT

The current constantly transforming and evolving scenario requires new skills, professionalism and adaptability. At the same time, it is essential for a company to be able to attract and value talent in order to face present and future challenges. The Group is committed to creating an international working environment, characterised by deep and unique expertise, where the sharing of ideas and experiences stimulates creativity and innovation. In this context, recruitment, selection and hiring processes play a key role and several initiatives have been implemented to support these efforts.
 
The Group’s Recruitment, Selection and Hiring Policy was recently updated to reflect the insights from an internal survey on diversity-related topics. This document further strengthens the processes and makes them increasingly transparent and inclusive by basing them on objective criteria.

During 2024, the Talent Acquisition Department continued the process of revising, in an inclusive way, the language to be adopted from the job description phase to the interview phase. To support this initiative, training sessions were organised for the staff involved in the recruitment, selection and hiring processes at a global level.
 
The activity of internal job posting, among functions and Regions, is also included in the context of the recruitment, selection and hiring process. Each employee, through the dedicated area on the company platform, can apply for open positions that best align with their profile, level of experience and aspirations, ten days before the external job announcement is published. In Moncler in 2024 positions filled via internal job posting accounted for around 15% at the global level. Specifically, they accounted for around 15%

in Europe, 9% in America and 18% in Asia. In Stone Island, approximately 10% of searches were covered through internal job posting during the year.
 
One fundamental aspect of attracting talent that aligns with the corporate culture and shares the organisation’s goals is the Employee Value Proposition (EVP), which the Group defined in 2024. The EVP represents what distinguishes and values the two Brands as employer, highlighting the characteristics that make their respective organisations unique and thus improving the perception of Moncler and Stone Island in the labour market. As part of this initiative, internal focus groups and surveys were organised helping to identify the distinctive elements of the two Brands as employers, by analysing what makes them unique and relevant to external candidates.

Particularly important for market research are also collaborations with the top vocational schools, universities and business schools worldwide, with which Moncler has established relationships, offering internship programmes for students and recent graduates, involvement in project development, participation in working groups and visits to operational sites. To access the most diversified talent pool, the Moncler Group has identified a panel of universities recognised by the QS Sustainability Ranking for their ability to attract students while ensuring a high level of diversity. Since 2023, selection processes for students have been initiated in each of the Group’s regions, resulting in internships at the company.
 
Moncler and Stone Island offer several internship

opportunities each year, providing high-potential young people with the chance to experience the company and gain valuable training. In 2024, around 170 internships were activated within the Group both curricular and extra-curricular. In particular, Moncler’s Italian corporate offices hosted young interns from 11 different countries during the year. Among these two types of internships, 31% of them resulted in job contracts in 2024.
 
In 2024, Moncler continued organising meetings with students from partner schools. Workshops, business cases and recruitment sessions were designed for these occasions, based on ad hoc programmes designed for each school. As part Executive Master’s in Luxury Management

(EMiLUX) at SDA Bocconi, Moncler participated in the Behind the Scenes project, hosting two students at the Montenapoleone flagship store in Milan for an immersive retail experience alongside the Client Advisors. In addition, it again collaborated with the Luxury Business Management MBA at SDA Bocconi to develop The Moncler Way and Cross Selling project. It also hosted a delegation from the Columbia Business School Retail & Luxury Goods Club, offering the opportunity to discuss the new brand platform with Stone Island’s Chief Executive Officer and client strategy with Moncler’s Chief Retail Officer. Finally, the collaboration continued to identify new resources to be included in the retail channel with the Ecole Hotelèrie de Lausanne.

To ensure the correct application of its remuneration policy, the Group monitors that entry-level salaries, without differences between men and women, are equal to or above the minimum required by law or collective bargaining in all the countries in which it operates. This commitment is also confirmed by the analysis on living wage carried out annually for the entire corporate population¹, including the production site in Romania, according to the Fair Wage Network methodology.
 
In addition, the Group implements an annual remuneration review process to reward the performance of its employees, promoting a culture based on meritocracy. In line with its fair and transparent approach, the Group is also committed to obtaining, by 2025, the EDGE certification from an impartial third party relating to pay equity for the Moncler brand globally, after achieving it at the Italian level.
The remuneration package for 85% of the eligible population includes a variable component, properly balanced with to the fixed component and the individual contribution to the Company’s strategic objectives.
The variable component may be short-term (Management By Objectives or MBO) for the store managers and corporate population; a sales commission for retail staff, at both team and individual level; or medium/long-term (Long Term Incentive or LTI).
 
The MBO system, in particular, is mainly based on annual quantitative objectives of an economic and financial nature, primarily Group consolidated EBIT, and on qualitative objectives of significan

strategic and operational importance for the relevant function. These also include achieving the targets set out in the Strategic Sustainability Plan, reflecting the Group’s commitment to responsible development.
 
For each beneficiary, the MBO system establishes a combination of objectives:
• collective objectives, related to the economic and financial performance of the Group;
• individual and team objectives, focused on the operational and strategic performance of the department to which the individual belongs involving several colleagues;
• project objectives, related to the achievement of milestones relevant to the specific function.
This system is applied to professionals, managers, executives and senior executives at the corporate sites, as well as to store management team. The mechanism encourages the achievement of outstanding results, providing for incremental rewards for overperformance, where the assigned objectives are achieved at a level above target.
 
Lastly, the MBO system aligns performance objectives with risk management, as identified by Enterprise Risk Management (ERM), fostering a corporate culture orientated toward risk assessment and management as an integral part of the employee decision-making process.
 
Regarding the inclusion of Sustainability Plan commitments, within the variable component of the remuneration package, specific sustainability-related objectives are assigned to each employee of the eligible population, relating to their role or area of competence.
 

With regard to the Chairman and Chief Executive Officer, Executive Directors and strategic managers, the MBO system focuses on achieving the objectives of the Sustainability Plan defined for the year. These objectives also include areas such as fighting climate change and protecting biodiversity, circular economy, responsible sourcing, valuing diversity, supporting local communities, as well as people engagement objectives and Diversity, Equity & Inclusion (DE&I) topics.
 
In addition, with regard to the short-term variable component, retail employees are provided with incentive systems based not only on individual and but also store performance that reward excellence and service quality, along with the contribution to business development.
 
As a medium/long-term incentive system, the Moncler Group currently uses Performance Share Plans for key positions within the management population. This approach allows the incentive process for managers and key resources of the Group to be linked to actual company’s results, steer people towards strategies aimed at pursuing sustainable medium/long-term results, align the interests of beneficiaries with those of shareholders and investors and develop policies aimed at attracting and retaining talented professionals.
 
Since 2020, an ESG (Environmental, Social and Governance) indicator has been included in the Performance Share Plans, that entails the achievement of specific sustainability.

The remuneration package offered to employees includes a wide range of benefits. Specifically, it includes pension plans and supplementary healthcare plans, life insurance and financial support in case of disability. In addition, services such as the company canteen or replacement meal vouchers are available, along with additional corporate welfare initiatives to support employee well-being.
 
The benefits provided by the Group to its employees are linked to their professional category, regardless of the type of contract (fixed-term/permanent; full-time/part-time) and follow internationally applied guidelines, with possible changes depending on the local policy of each country.

To develop remuneration policies that not only reward work performance, but also respond in a timely manner to the non-financial needs of its people, Moncler has developed corporate welfare plans, currently in Italy, the United Kingdom and South Korea, to ensure greater care and attention

to the well-being of people. In particular, for all Italian employees, these plans apply to categories up to the managers of the corporate sites employed under permanent or apprenticeship contracts, in force at 31 December of each year and provide a wide range of benefits and services, also offered in part to the employee’s family, from reimbursement of school expenses to vouchers, from leisure solutions to wellness packages. In Italy there is also the option of transferring a portion of one’s welfare credit to supplementary pension funds.
 
As part of corporate welfare, during the year, the corporate employees of the Trebaseleghe office who used nursery and kindergarten services received full financial support from the Company, supporting their family needs and allowing for a better work-life balance.
In addition, in 2023, a kindergarten was opened for the children of the employees of the production site in Romania. The facility accommodates over 60 children, who are offered an innovative

educational experience based on one of the most internationally renowned teaching approaches developed by the Reggio Children organisation. This innovative approach fosters an environment that nurtures children’s potential and promotes experiential learning through interactions, autonomy, exploration and communication. The kindergarten has obtained “gold” certification from WELL, the world’s leading building certification programme, with the highest standards of health and well-being.
At the production centre in Romania, additional financial support was provided to employees in case of personal emergencies.
 
Lastly, Moncler and Stone Island adhere to Sanimoda, the supplementary health care fund for workers in the Italian fashion industry, which provides health care services supplementary to those of Italian’s National Health System. During the year 1,552 Italian employees signed up with the Fund.

To support the enhancement and development of people’s potential, the Group uses the PIUMA Leadership Model, an annual performance evaluation system that measures the skills people use to achieve the assigned targets. Based on a robust methodology it measures performance by assessing the level of knowledge, problem-solving ability and impact on the business and leadership, then comparing it with the standard expected for the specific role. This allows to verify the level of adherence of the individual to their role, defining potential training and development plans.
 
The assessment is based on values of which every employee must be an ambassador and promoter: integrity, passion, harmony with company culture, ability to build trust-based relationships, global vision and the drive towards innovation. Specifically, one of the dimensions in which each employee is evaluated is a specific area for assessing the compliance of their behaviour with the principles of the Group’s Codes of Ethics.
 
The evaluation system, which aims to improve business performance, has a medium-to-long-term

perspective and is therefore one of the key processes for managing and developing people, defining succession plans and retaining the best talent laying the basis of the salary review process, ensuring equity, equal opportunities, meritocracy and market competitiveness. The employee self-assessment is an important step in the evaluation process. It enables employees to compare the perception of their performance with that of the Company.
 
In the assessment process, each manager evaluates his or her staff using a digital platform. In addition, where applicable, the functional manager is also involved in the assessment. This assessment is subsequently circulated to and finalised within a committee of senior managers, with the aim of ensuring the comparison and calibration of the assessments, thus making them even fairer and more objective. The process ends with the sharing of the assessment between the manager and the employee, in a conversation, in which the areas for improvement identified are discussed, the results achieved are emphasised and an action plan to strengthen future

performance is shared. The process is thus structured to include various steps in order to make the performance evaluation system multidimensional.
The assessment process is applied to all organisational roles, both corporate and retail, at a global level, including the worker population in Romania.
 
The evaluation process is applied to all organisational roles, both corporate and retail, at a global level. During the year, 7,006 people were evaluated in the Group (86% of the workforce at the end of the year), of which 71% were women and 29% were men, a 20% increase compared to the previous year, equal to 100%² of the eligible population³.
In addition to this structured annual evaluation process, the Group promotes continuous processes of agile conversation between managers and employees throughout the year, allowing them to provide and receive ongoing feedback to raise awareness and review objectives and obstacles to achieving performance.

• Inclusion Survey. In 2024, Moncler Group launched its second survey with the aim of further exploring and strengthening the topics related to diversity, equity and inclusion.
The initiative gathered 4,111 responses, achieving 57% participation rate. Based on the survey results, several improvement projects were launched, including efforts to enhance communication about internal growth opportunities and foster a culture where employees feel encouraged to step out of their comfort zones and explore new challenges. To address these areas, the Building Bridges program was launched.
 
• EDGE survey. As part of the EDGE certification process (obtained in 2024 for the Moncler brand’s Headquarters in Italy), the Company conducted a survey involving more than 80% of the Group’s employees in Japan, Chinese mainland, South Korea, Romania, Italy, France and the United States, gathering key data on the Group’s remuneration policies in terms of gender equality, in line with the Sustainability Plan’s target of obtaining worldwide certification for the Moncler brand. The survey results served as a foundation for identifying strengths, existing gaps and opportunities for further development.
 
In addition to the surveys, Moncler Group facilitates employee engagement through dedicated listening sessions and working groups, including the Sounding Board, a group of employees from different Regions, committed

to contributing to strategic business projects. Out of around 200 voluntary applications, 25 participants were selected to take part in discussions on global initiatives such as the Inclusion Survey, inclusive leadership, and the Employee Value Proposition.
 
In addition, listening sessions and feedback on diversity, equity and inclusion initiatives were organised in each Region, where suggestions were received on the development of mentoring pathways, on how to strengthen international mobility and training programmes on unconscious bias and microaggression, helping to improve company policies.
 
Among the activities aimed at fostering direct interaction between employees and the Group’s top management, the Thank Boss It’s Friday! programme, a global initiative launched in 2019, continued. During these sessions, employees have the opportunity to share their curiosities and propose suggestions to top management, with a view to open dialogue. In 2024, approximately 205 employees took part in these sessions. In addition, several meetings were organised, open to all employees, in which financial trends, business results and updates on the most relevant projects were shared.
 
Finally, another key moment to promote teamwork and engage employees is corporate volunteering,

a tool that foster social responsibility and a culture of diversity. In collaboration with Legambiente, the Group continued its environmental awareness project, organizing park cleaning and nature conservation activities. Additionally, projects were launched to restore schools and social centres in various Italian cities.
Since 2021, Moncler has also promoted the Be Warm project in partnership with Officine Buone, encouraging employees to share their artistic talents in Italian hospitals, offering moments of entertainment to both medical staff and patients.
In 2024, Moncler supported the association Casa Lontani da Casa association with the “Stanze e Favole Blu” project, creating welcoming spaces for families travelling for medical treatments and creating podcast fairy tales for children.
Furthemore, thanks to the partnership with Dynamo Camp, an association that provides recreational therapy programs for children suffering from severe or chronic diseases, neurodevelopmental disorders or disabilities, employees had the opportunity to participate in the Volunteer Training session at the Limestre Camp, gaining both theoretical and practical knowledge of Dynamo’s “Recreational Therapy” methodology.
The Group’s Regional teams have also actively contributed to a variety of volunteer initiatives, engaging in projects ranging from environmental conservation to social programs, demonstrating a strong spirit of collaboration and proactivity in addressing both local and global challenges.

The Leadership Academy is designed to fit each employee’s career stage, supporting their growth from entry-level roles to management, with customized development paths.

Targeted programmes are planned for each career stage, designed to ensure the development of essential skills aligned with the various levels of corporate seniority and responsibility, including:
 
• eMpower, a programme launched in February 2023 which represents a tangible commitment by the Moncler Group to develop and empower young professionals, including interns and new hires. Structured around three key pillars – Learning, Networking and Inspirational Talks – eMpower is a three-year pathway designed to facilitate the integration of new generations and develop essential skills for both professional and personal growth. Learning, the first pillar, focuses on the development of fundamental skills, with technical and advanced courses in areas such as Excel, PowerPoint, communication and collaboration. Networking promotes the creation of a professional network through social events, sports competitions and volunteer activities, strengthening the sense of community within the programme. Lastly, Inspirational Talks invites Group managers and leaders to share their experiences and values, offering participants valuable insights into the successful dynamics of at Moncler Group.
In 2024, 875 hours of training were delivered with a total of 193 participants.
 
• Connections is a learning programme launched in 2024 for all employees of the Moncler and Stone Island offices in Italy, which will also be extended to the Group’s Regions. The programme

focuses on building a culture of collaboration, innovation and excellence and is structured around three main pillars. The Excellence pillar is focused on achieving high performance, encouraging employees to pursue ambitious goals and maintain the highest quality standards. Collaboration promotes teamwork and cross-functional networking, fostering the development of solid professional relationships and a collaborative corporate culture. Lastly, Innovation encourages the adoption of new ideas and an open mindset to change, pushing employees to explore creative solutions and to tackle business challenges in a resilient way.
 
• Building Leadership and Building Bridges are two programmes designed for managers, senior managers, and executives, aimed at developing effective leadership skills to guide teams and create cohesive and positive work environments.
The Building Leadership program, launched in 2021, strengthens managerial competencies, preparing participants to face complex challenges and promoting an inclusive, high-performance environment. In 2024, the programme involved 16 managers from Moncler and Stone Island, with diverse backgrounds, with a total of about 370 hours of training delivered on key topics such as communication, delegation, stress and conflict management, constructive feedback and inclusive leadership. Each participant also had access to individual coaching programme, aimed at translating learning into concrete actions in the work context.
Building Bridges is the first global leadership programme of the Moncler Group, designed to foster an inclusive and positive culture in the

Company. Created in response to feedback from the 2024 Inclusion Survey, the programme is designed to equip managers with the skills necessary to create safe work environments, where every opinion is respected and valued.
The program provides practical tools to support an inclusive and collaborative work environment. It represents a long-term commitment to integrating inclusive leadership at all levels of the organisation, with the goal of involving 100% of management (managers, senior managers, executives and senior executives) by 2026.
With its gradual international expansion, Building Bridges aims to support and strengthen the cultural transformation across all geographic areas.
 
Within the Leadership Academy, function managers and regional Presidents are involved in activities designed to strengthen team cohesion and align the leadership with the Group’s evolving challenges. In 2024, an event was organised in collaboration with the IMD Business School, focusing on two key topics: Future Readiness, to provide strategic tools to anticipate market changes, and Inclusive Leadership, aimed at exploring the importance of a psychologically safe and inclusive environment as a key element for innovation and growth.
 
Additionally, within the Leadership Academy, a training course of about 600 hours was developed, specifically for employees with coordination tasks at the “smart factory” in Trebaseleghe (Padua), focusing on communication, feedback, motivation and collaboration.

In parallel with the Leadership Academy training programs, the Group’s commitment to involving employees in development paths continued, including:
 
• MONCampus, an initiative designed to accelerate the growth of young talent at Moncler and Stone Island, by offering an interactive global development pathway for skills enhancement and knowledge exchange. In 2024, the programme was expanded through a collaboration with POLI.Design of the Politecnico di Milano, which introduced new content, and through the international expansion of the initiative, with the involvement of 23 participants from all the Regions in which the Group operates.
The 2024 edition saw the assignment of four strategic projects by top management, to which

participants have to apply the skills acquired in real business contexts. MONCampus‘ leadership and innovation courses, including Leading International Projects and Design-Driven Innovation, provide additional training support. The programme will conclude in July 2025 with the presentation of the projects to the leadership.
 
• MAKERS LAB a global initiative that aims to promote the transfer of technical skills among Moncler and Stone Island employees. In the programme, internal experts (Subject Matter Experts or SMEs) share their know-how on processes and tools with colleagues from various functions, encouraging cross-functional learning. Stone Island experts were also involved in 2024, fostering a mutual skill exchange between the two Brands.

This year, over 1,100 hours of professional development were delivered, reaching more than 650 employees globally.
 
• MATE a specialized three-year training program for new graduates from technical and vocational schools offering advanced skills in sample production, prototyping and quality control, with a focus on down jacket creation. The fourth edition of MATE was launched in 2024, involving 11 new participants and over 19,000 training hours. The programme has also been extended to Stone Island with the Stone Island Atelier Project. At the same time, the Pattern Making School in Romania, active since 2018, continues to train young local talents in modelling and development, strengthening local skills and productivity.