What we do on an everyday basis and how we achieve our goals speaks volumes about us, it is what defines us. It tells of who we are and the contribution we are striving to make through our work. It shows whether in addition to financial success, we are also looking ambitiously towards the future of our society and the environment.

2019 was an important year that reflected our commitment to integrating sustainability into the way we work, not always an easy task. Our membership of The Fashion Pact is further evidence of our belief that global and urgent challenges require cohesive and wide-ranging commitments.

In September, Moncler was included as an Industry Leader in the prestigious Dow Jones Sustainability World and Europe indices, which rank only the best-in-class companies in terms of sustainability commitment.

This is a recognition for the around 4,600 people of Moncler who inspire the company daily to make a conscious contribution to the future, each within

their own remit and through their way of working.

It is one of our values: Plan Beyond Tomorrow. In 2019, we continued to invest in research and development, exploring more sustainable materials and bringing products to the market made with recycled fabrics and the first bio-based and carbon-neutral down jacket, created with plant-based and natural materials. We have continued with our process to reduce our CO2 emissions, with initiatives aimed at spreading the culture of sustainability through our supply chain, as well as activities to monitor compliance with our environmental and social standards. Last but by no means least, we have strengthened our support for local communities hand in hand with voluntary activities carried out by our people with associations in various fields. I believe all this is evidence that we are on the right path, but we are aware that much remains to be done.

In the pages of this document, we share with you our objectives for the future,

divided into five strategic pillars. Our commitments include working towards a circular economy extending the life of products, combating climate change with the aim of becoming carbon neutral, promoting a responsible and traceable supply chain, focussing on our people and supporting local communities to provide value for all our stakeholders.

The world is currently facing huge and urgent challenges. These challenges require everyone to play their part, both as a company but also as individuals, with a determination to tirelessly seek answers and a tenacity in knowing that small steps lead to big results.

We have both a great opportunity and responsibility: to deliver a bright future for the next generation. It is a worthy goal and we will continue to devote our whole energy, humility and commitment to live up to it.