71 bOaRD OF DIREcTORS REPORT70 MONCLER GROUP 2022bOaRD OF DIREcTORS REPORT

2% of the Group s revenues in 2021 (before the start of the conflict). With regard to its supply chain, Moncler Group can confirm

that it does not purchase raw materials in Ukraine or Russia, nor use third-parties producers based there. both the direct produc- tion site located in bacau, Romania, and all third-party manufactur- ers based in neighbouring areas operated without any disruption due to the conflict in Ukraine. also at logistics level there have not been significant issues.

SHaRES bUY-bacK PROGRaM On 3 March 2022, Moncler S.p.a. announced the launch of a buy- back program up to 1,000,000 of ordinary shares (equal to the 0.4% of its share capital), servicing stock-based incentive schemes or other allocations of shares to employees, members of the board of Directors and consultants of Moncler and of its subsidiaries. The program terminated on 25 March 2022 and at 31 December 2022 Moncler S.p.a. held 4,858,416 treasury shares.

cOMPOSITION OF THE bOaRD OF DIREcTORS On 21 april 2022, the Ordinary Shareholders Meeting has appoint- ed the new board of Directors for the three-year period 2022-2024 and confirmed the composition of 12 members. The board of Direc- tors will remain in charge until the Shareholders Meeting is called to approve the Financial Statements as of 31 December 2024. The board is composed as follows: Remo Ruffini (charmain and chief Executive Officer), Diva Moriani (Independent Director), car- lo Rivetti (Non-Executive Director), alessandra Gritti (Independent Director), Marco De benedetti (Non-Executive Director), Jeanne Jackson (Independent Director), Maria Sharapova (Independent Di- rector), bettina Fetzer (Independent Director), Robert P. Eggs (Ex- ecutive Director), Luciano Santel (Executive Director) and Gabriele Galateri di Genola (Independent Director).

DIVIDENDS On 21 april 2022, the Ordinary Shareholders Meeting approved the Moncler S.p.a Financial Statements at 31 December 2021 and ap- proved the distribution of a gross dividend of EUR 0.60 per share.

2022 PERFORMaNcE SHaRES PLaN On 21 april 2022, the Ordinary Shareholders Meeting approved, pursuant to art. 114-bis of the TUF, the adoption of a stock grant plan called Performance Shares 2022 Plan reserved to Executive Directors, Executives with Strategic Responsibilities, employees, collaborators and consultants of Moncler and its subsidiaries.

REaLIGNMENT OF THE TaX VaLUE OF THE STONE ISLaND bRaND On 28 June 2022, the board of Directors approved the realignment of the tax value of the Stone Island brand to its statutory value in the financial statements, opting for the regime pursuant to art. 15 of Italian Decree Law no. 185/2088.

STONE ISLaND JaPaN On 1 august 2022, the distribution of the Stone Island brand in the Japanese market was internalised through the establishment of a joint venture with a local partner, in which Stone Island holds the majority (80%), to directly manage the local business composed of 16 DOS and the relationship with local wholesale partners.

STONE ISLaND UK On 1 august 2022, the DTc business of the Stone Island brand in the UK market, currently composed of the online store and the Lon- don DOS, was internalised.

No significant events occurred after the reporting date.

DOW JONES SUSTaINabILITY INDIcES WORLD aND EUROPE For the fourth year in a row, Moncler has been confirmed in the Dow Jones Sustainability Indices DJSI World and Europe, obtaining in the S&P Global Corporate Sustainability Assessment 2022 the highest score (91/100) of the Textiles, apparel & Luxury Goods (data as of 14 February 2023).

cDP In cDP climate change questionnaire 2022, the Group has main- tained the leadership level with an a- score for its environmental transparency and actions to mitigate climate risks. cDP is a glob- al non-profit that runs the world s leading environmental disclosure platform.

MOODY S Moncler ranked second in the Moody s ESG Solutions 2022 ESG Overall Score ranking for the sector of Specialised Retail with a score of 62/100, obtaining the level advanced .

MScI In 2022 Moncler was rated aa by MScI ESG Research that pro- vides MScI ESG Ratings on global public companies and a limited number of private companies on a scale of aaa (leader) to ccc, ac- cording to exposure to industry-specific ESG risks and the ability to manage those risks relative to peers.

SUSTaINaLYTIcS In January 2023, Moncler confirmed the Industry Top-Rated badge as well as the Regional Top-Rated badge from Sustainalytics, a leading research and ESG & corporate Governance rating compa- ny that supports investors in the development and implementation of responsible investment strategies.

The global macroeconomic context at the beginning of 2023 re- mains complex, with uncertainties related to recession risks, infla- tionary pressure and a volatile geopolitical situation.

With regards to the chinese market, after three years of ex- tremely restrictive pandemic containment measures, we observed an encouraging reopening in the first few months of the year, al- though the health situation remains unstable.

In light of this uncertainty and unpredictability, the Group con- tinues to work to maintain an agile, flexible and reactive organization, fostered by a portfolio of unique brands and by clear and effective development strategies, in order to remain on a solid growth path.

These are the main strategic lines of development.

STRENGTHENING OF aLL MONcLER bRaND DIMENSIONS During 2023 Moncler will further strengthen the three dimensions of the brand (Moncler Collection, Moncler Grenoble and Moncler Genius) through distinctive events and focused communication strategies. Moncler Genius is evolving the traditional concept of collaboration entering a new phase of co-creation, thanks to the in- volvement of new talents who embrace new forms of creativity be- tween design, entertainment, music and sport going well beyond fashion, as presented in London on 20 February. Moncler collection will see the celebration in a new and modern key of other iconic gar- ments that have made the history of the brand. Moncler Grenoble will continue to strengthen its awareness, with dedicated market- ing initiatives and a wider and more complete performance-orient- ed collection suitable for all the seasons of the year.

DEVELOPMENT OF THE STONE ISLaND bRaND aT INTERNaTIONaL LEVEL aND IN THE DIREcT-TO-cONSUMER (DTc) During 2023 Stone Island will continue to strengthen its position in core markets, such as the European countries, and increase its pen- etration in the ones less mature but with a high potential. The expan- sion of Stone Island in the DTc channel will also continue, with the opening of some selected DOS under the new store design and with targeted clienteling and communication strategies, as well as dis-

SIGNIFIcaNT EVENTS OccURRED aFTER THE REPORTING DaTE

SUSTaINabILITY RaTINGS UPDaTE

bUSINESS OUTLOOK