225224 MONCLER GROUP 2022

7

the control functions, are required to make a coordinated and interdependent contribution to the functioning of this system. The Board of Statutory Auditors oversaw the adequacy of the ICRMS adopted by the Company and the Group and checked that it functioned correctly. In particular, the Board of Statutory Auditors: (i) noted the adequacy rating given by the Board of Directors in relation to the

ICRMS, after consulting the control, Risks And Sustainability Committee; in this regard, refer to the Report on Corporate Governance and Ownership Structure;

(ii) examined the semi-annual report of the Control, Risks And Sustainability Committee provided to assist the Board of Directors;

(iii) examined the documents summarising the assessment of the adequacy and efficacy of the ICRMS, prepared by the Internal Audit Function;

(iv) attended all the meetings of the Control, Risks and Sustainability Committee, obtaining information about any project the Committee considered appropriate to arrange or request in response to specific issues;

(v) obtained knowledge of the trend in the organisational structures and activities performed by the Internal Audit and Compliance Functions;

(vi) examined the reports on the work done by the Internal Audit and Compliance Functions which were brought to the attention of the Control, Risks and Sustainability Committee and of the Board of Directors;

(vii) verified the autonomy, independence and functionality of the Internal Audit Function, and maintained and implemented adequate, regular connections with that function;

(viii) examined the Audit Plan prepared by Internal Audit and approved by the Board of Directors, observed the compliance with the Plan and received information on the results of the audits and on the effective implementation of any mitigating or corrective actions;

(ix) obtained information about the changes to the set of Group procedures. In light of the above, taking into account the changes in the ICRMS, our analysis and the information we have obtained, nothing has emerged that would lead this Board to consider that the Company s overall system of internal controls and risk management is inadequate.

8

5.2 Administration and accounting system, and the financial reporting process

With regard to the accounting and administration system and the financial reporting process, the Board of Statutory Auditors, among its other activities, monitored the work done by the Company in continuously assessing the adequacy and concrete functioning of the system in practice. The Report on Corporate Governance and Ownership Structure describes the main characteristics of the system. Discussions with the managers of the external auditing firm to exchange information relevant to the performance of their respective duties pursuant to Article 150, paragraph 3 of the TUF, did not reveal any issue that would require a mention in this report. At the meeting on 17 March 2023, the Board of Statutory Auditors examined the draft supplementary report prepared by the external auditing firm Deloitte & Touche under Article 11 of EU Regulation 537/2014 and issued on 27 March 2023, and found that the report did not reveal any significant deficiencies in the internal control system with regard to the financial reporting process. The content of that report was then discussed and investigated further during the periodic exchanges of information between the Board of Statutory Auditors and the external auditing firm.

5.3 Non-financial reporting process The Board of Statutory Auditors would like to remind the shareholders that under Legislative Decree 254/2016 as amended and the related enacting regulation issued by CONSOB in its deliberation No. 20267 of 18 January 2018, the Company is required to prepare and publish a consolidated Non-Financial Report ( NFR ). Under Article 4 of Legislative Decree 254/2016, the NFR provides non-financial information about the Company and its subsidiaries to the extent necessary to ensure a clear understanding of the Group s activities, its performance, its results and the impact thereof . As provided for in Article 3, paragraph 7 of Legislative Decree 254/2016, the Board of Statutory Auditors, in performing its legal functions, oversaw the compliance with the regulations requiring the preparation and publication of a non-