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45 bOaRD OF DIREcTORS REPORT44 MONCLER GROUP 2022bOaRD OF DIREcTORS REPORT

ambassadors have been selected from each company s de- partment to raise awareness of social and environmental issues in the departments where they operate and to promote sustainabili- ty initiatives that are in keeping with the Group s objectives. More- over, starting from 2017, Sustainability data owners have also been picked, each responsible in their area, for data and informa- tion published in the consolidated Non-Financial Statement and for achieving the objectives in the Sustainability Plan, for areas in their responsibility.

as further evidence of the degree to which the company s senior management supports and promotes sustainability, the control, Risks, and Sustainability committee was established as a committee of the board of Directors. The committee is composed of three non-executive and independent Directors and was entrust- ed by the board of Director to supervise sustainability issues asso- ciated with the business activities of the Group and its interactions with stakeholders, to define strategic sustainability guidelines and the relevant action plan (Sustainability Plan) including issues on cli- mate change, biodiversity and human rights, and to review the con- solidated Non-Financial Statement.

In terms of financial instruments, Moncler is testing and adopting new mechanisms linked to sustainability performance. In July 2020, the company has signed a financial credit line that consists of a sustainability-linked revolving credit facility with a re- warding mechanism linked to the achievement of environmental impact reduction targets. In November 2020, Moncler signed an agreement for forex risk hedging which provides for a premium in terms of improvement in hedging strikes on currencies based on the recognition of high sustainability standards by an external and independent assessment body.

The Moncler Group, in compliance with article 5, paragraph 3, letter b of Legislative Decree no. 254/2016, has issued a con- solidated Non-Financial Statement, which comprises a separate report and describes the year s main environmental and social ac- tivities and also publishes the results achieved in relation to Sus- tainability Plan objectives. The 2022 consolidated Non-Financial Statement is prepared in compliance with the Global Reporting Ini- tiative Sustainability Reporting Standards (GRI Standards) core option and is partially audited by Deloitte & Touche S.p.a.

In order to continue to improve the transparency of the ESG (Environmental Social Governance) performance and facilitate the comparability of the data and information provided to differ- ent stakeholders, starting from 2020 Moncler has also begun to consider some indicators provided by Sustainability accounting Standards board (SaSb) with the aim of gradually expanding dis- closures in subsequent publications.

THE DIST PROTOcOL as part of its commitment to ensuring animal welfare and the full traceability of the down, Moncler requires and ensures that all its down suppliers comply with the strict standards of the Down Integ- rity System & Traceability (DIST) Protocol. applied since 2015, the DIST Protocol sets out standards for farming and animal welfare, traceability and the technical quality of down. Moncler only pur- chases down that is DIST-certified.

Key requirements that must be met at all levels of the supply chain include:

down must be derived exclusively from farmed geese and as a by-product of the food chain;

no live-plucking or force-feeding of animals is permitted.

Moncler s down supply chain is particularly vertically integrated, and includes various types of entities: white geese farms, slaughterhous- es, the companies responsible for washing, cleaning, sorting and processing the raw materials. Moreover, the supply chain includes façon manufacturers, which, using the down, manufacture finished products. all suppliers must comply scrupulously with the Protocol, to ensure the traceability of the raw materials, respect for animal wel- fare and the highest possible quality throughout the down supply chain: from the farm to the down injection into the garments.

The Protocol, defined taking into consideration the peculiar- ities of the supply chain structure, was the outcome of open, con- structive engagement with a multi-stakeholder forum, established

in 2014 that meets annually to review and reinforce the protocol. The forum considered the expectations of all the various stakehold- ers and ensured a scientific and comprehensive approach to the is- sue of animal welfare and product traceability. Starting from 2023, the Protocol will be integrated with three specific modules on hu- man rights, environment, and the DIST down recycling procedure.

The Protocol assesses animal welfare in an innovative way. alongside a traditional approach that focuses on the farming en- vironment, the DIST, following the European Union guidelines, also evaluates animal welfare through careful observation of an- imal-based Measures (abM7).

Moncler is constantly involved in the on-site auditing process to certify compliance with the DIST Protocol. To ensure maximum au- dit impartiality:

audits are commissioned and paid directly by Moncler and not by the supplier;

certification is conducted by a qualified third-party organisa- tion whose auditors are trained by veterinarians and animal husbandry experts from the Department of Veterinary Medi- cine at the University of Milan;

the certification body s work is in turn audited by an accred- ited external organisation.

The presence of certified down in Moncler garments is guaranteed by the DIST down certified label.

In 2022, 136 audits were conducted by third-parties along the entire supply chain.

as another important step towards a more circular economy, Moncler started recycling DIST-certified down through an innova- tive mechanical process that requires 70% less water compared to traditional down recycling processes.

Stone Island is also committed to ensuring that the down used in its products is obtained with respect for animal welfare. The company purchases only certified duck down according to the Responsible Down Standard (RDS) protocol. Starting in 2023, all suppliers of the brand will have to be compliant with the social and environmental requirements verified through audits.

7 The animal-based Measures are indicators of the real welfare of an animal, determined through the direct observation of its capacity to adapt to specific farming environments. The measures include physiological, pathological and behavioural indicators.

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