135 CONSOLIDATED FINANCIAL STATEMENTS134 CONSOLIDATED FINANCIAL STATEMENTS MONCLER GROUP 2022

obtaining adequate credit lines to create an adequate debt structure to better use the liquidity provided by the credit system;

continuous monitoring of future cash flows based on the Group budget.

Management believes that the financial resources available today, along with those that are generated by the current operations will enable the Group to achieve its objectives and to meet its invest- ment needs and the repayment of its debt at the agreed upon ma- turity date.

It should also be noted that, with reference to the provisions of IFRS 13, financial liabilities relating to commitment to purchase minority interests are accounted for at fair value based on valuation models primarily attributable to level 3, as explained in the section related to principles.

It is reported in the following table an analysis of the contrac- tual maturities (including interests), for financial liabilities.

CONTRACTUAL CASH FLOWS

(Euro/000) Non derivative financial liabilities Total book Total within 1-2 years 2-5 years more value 1 year than 5 years Bank overdraft 0 0 0 0 0 0 Self-liquidating loans 0 0 0 0 0 0 Financial debt to third parties 0 0 0 0 0 0 Unsecured loans 9,711 9,711 7,453 2,258 0 0 Financial lease liabilities 837,479 837,479 163,194 148,462 305,351 220,472

CONTRACTUAL CASH FLOWS

(Euro/000) Derivative financial liabilities Total book Total within 1-2 years 2-5 years more value 1 year than 5 years Interest rate swap hedging (18) (18) (18) 0 0 0 Forward contracts on exchange rate hedging (2,387) (2,387) (2,387) 0 0 0 - Outflows 9,099 9,099 9,099 0 0 0 - Inflows (11,486) (11,486) (11,486) 0 0 0

9.4 OPERATING AND CAPITAL MANAGEMENT RISKS

In the management of operating risk, the Group s main objective is to manage the risks associated with the development of business in foreign markets that are subject to specific laws and regulations.

The Group has implemented guidelines in the following areas: appropriate level of segregation of duties; reconciliation and constant monitoring of significant transac-

tions; documentation of controls and procedures; technical and professional training of employees; periodic assessment of corporate risks and identification of

corrective actions.

As far as the capital management risk is concerned, the Group s objectives are aimed at the going concern issue in order to ensure a fair economic return to shareholders and other stakeholders while maintaining a good rating in the capital debt market. The Group manages its capital structure and makes adjustments in line with changes in general economic conditions and with the strategic ob- jectives.

10.1 RELATED PARTY TRANSACTIONS

Set out below are the transactions with related parties deemed rel- evant for the purposes of the Related-party procedure adopted by the Group.

The Related-party procedure is available on the Company s website (www.monclergroup.com, under Governance/Corporate documents ).

Transactions and balances with consolidated companies have been eliminated during consolidation and are therefore not commented here.

During 2022, related-party transactions mainly relate to trad- ing transactions carried out on an arm s length basis with the fol- lowing parties:

During 2022, related-party transactions mainly relate to trading transactions carried out on an arm s length basis with the follow- ing parties:

Yagi Tsusho Ltd, counterparty to the transaction, which led to the establishment of Moncler Japan Ltd., acquires finished products from Moncler Group companies (EUR 122.3 million in 2022 and EUR 97.4 million in 2021) and then sells them to Moncler Japan Ltd. (EUR 136.6 million in 2022 and EUR 108.1 million in 2021) pursuant to the contract agreed upon the company s establishment.

Gokse Tekstil Kozmetik Sanayi ic ve dis ticaret limited sirketi, company held by the minority shareholder of Moncler Istan- bul Giyim ve Tekstil Ticaret Ltd. Sti, provides services to that company by virtue of the contract signed at the time of in- corporation of the company. Total costs recognised for 2022 amounted to EUR 0.1 million (EUR 0.1 million in 2021).

The company La Rotonda S.r.l., owned by a manager of the Moncler Group, acquires finished products from Industries S.p.A. and provides services to the same. Total revenues rec- ognised for 2022 amounted to EUR 1.4 million (EUR 1.4 mil- lion in 2021) and total costs recognised amounted to EUR 0.2 million (EUR 0.2 million in 2021).

The company Rivetex S.r.l. (formerly Amanpulo S.r.l.), a com- pany referable to Carlo Rivetti and his family members, rents a building to Moncler Group; in 2022 total costs amounted to EUR 0.5 million (EUR 0.4 million in 2021).

Mr Fabrizio Ruffini, brother of the Chairman of the Board of Directors and Chief Executive Officer of Moncler S.p.A., pro- vides consultancy services relating to research, develop- ment and quality control for Moncler branded products. Total costs recognised for 2022 amounted to EUR 0.6 million (EUR 0.6 million in 2021).

The company Industries S.p.A. adheres to the Parent Company Moncler S.p.A. fiscal consolidation.

COMPENSATION PAID TO DIRECTORS, BOARD OF STATUTORY AUDITORS AND EXECUTIVES WITH STRATEGIC RESPONSIBILITIES Compensation paid to the members of the Board of Directors in 2022 amounted to EUR 8,052 thousand (EUR 7,484 thousand in 2021).

Compensation paid to the members of the Board of Audi- tors in 2022 amounted to EUR 142 thousand (EUR 142 thousand in 2021).

In 2021 total compensation paid to executives with strategic responsibilities amounted to EUR 2,787 thousand (EUR 2,616 thou- sand in 2021).

In 2022 the costs relating to performance share plans (de- scribed in paragraph 10.2) referring to members of the Board of Di- rectors and Key management personnel amounted to EUR 13,833 thousand (EUR 8,916 thousand in 2021).

The following tables summarise the afore-mentioned related- party transactions that took place during 2022 and the prior year.

10 OTHER INFORMATION