73 bOaRD OF DIREcTORS REPORT72 MONCLER GROUP 2022bOaRD OF DIREcTORS REPORT

tinctive and characterizing languages to strengthen the unique po- sitioning of the brand, which has its own identity and value matrix rooted in the culture of research and experimentation.

SUSTaINabLE aND RESPONSIbLE GROWTH The Moncler Group believes in a sustainable and responsible de- velopment, under shared values that are reflective of stakehold- er expectations and consistent with the Group long-term strategy. an approach based not only on the commitment to set increasing- ly challenging goals, but also on the awareness that every action has an impact on the society and the environment in which we op- erate. In 2023 Moncler commits to implement the actions and proj- ects necessary to pursue the sustainability objectives published in the 2020-2025 plan. The five strategic priorities of the Sustainabil- ity Plan are: climate change and biodiversity, circular economy and innovation, responsible supply chain, enhancement of diversity and support for local communities.

RESEaRcH aND DEVELOPMENT Since the Moncler Group s success depends in part on the image, prestige and recognition of the brands, and in part on the ability to manufacture a set of collections in line with market trends, the Group conducts research and development in order to design, cre- ate and implement new products and new collections. Research and development costs are expensed in the income statement as they occur on an accrual basis.

REcONcILIaTION bETWEEN NET RESULT aND SHaREHOLDERS EQUITY OF THE PaRENT cOMPaNY aND THE GROUP S aMOUNTS The reconciliation between the Group s net result and sharehold- ers equity at the end of the period and the parent company Mon- cler s S.p.a. net result and shareholders equity is detailed in the following table:

Reconciliation between result and new equity Result Net equity Result Net equity of the Parent and the Group 2022 31/12/2022 2021 31/12/2021 Parent company balance 278,836 1,467,615 136,482 1,363,511 Inter-group dividends (19,622) 0 (2,519) 0 Share of consolidated subsidiaries net 361,131 1,019,066 286,511 693,584 of book value of relates equity interest allocation of the excess cost resulting 0 605,298 (14,583) 605,298 the from acquisition of the subsidiaries and the corresponding Equity Elimination of the intercompany profit and losses (13,245) (137,120) (11,204) (123,693) Translation adjustments 0 (11,515) 0 869 Effects of other consolidation entries (403) (41,174) (1,154) (40,583) TOTAL GROUP SHARES 606,697 2,902,170 393,533 2,498,986 Minority interest 9 116 20 108 TOTAL 606,706 2,902,286 393,553 2,499,094

SEcONDaRY OFFIcES The company does not have any secondary offices.

cERTIFIcaTION PURSUaNT TO aRT. 2.6.2, PaRaGRaPH 8 aND 9 OF THE RULES OF THE MaRKETS ORGaNISED aND MaNaGED bY THE ITaLIaN STOcK EXcHaNGE In relation to art. 15 of consob Regulation adopted with resolution n. 20249 on 28 December 2017 as amended and integrated, con- cerning the conditions for the listing of companies with subsidiaries established and regulated under the laws of countries outside the European Union and of significance for the consolidated financial statements, please note that the above mentioned regulation is ap- plicable to five companies belonging to the Group (Moncler Japan, Moncler USa, Moncler asia Pacific, Moncler Shanghai and Mon- cler Korea) and that adequate procedures to ensure full compliance with said rules have been adopted and that the conditions referred to in that article 15 were met.

OTHER INFORMaTION

cERTIFIcaTION PURSUaNT TO aRTIcLE 16, PaRaGRaPH 4 OF THE MaRKETS REGULaTION aDOPTED bY cONSOb WITH RESOLUTION 20249 OF 28 DEcEMbER 2017

Moncler S.p.a. is controlled by Remo Ruffini through Ruffini Partecipazioni Holding S.r.l. (RPH) and Double R S.r.l. (DR, formerly Ruffini Partecipazioni Sr.l.). In particular, Remo Ruffini holds the en- tire share capital of RPH, which controls DR, that at 31 December 2021 held 19.9% of the share capital of Moncler S.p.a.

Moncler S.p.a. is not managed or coordinated by Ruffi- ni Partecipazioni Holding S.r.l.; for relative evaluations, reference is made to the Report on corporate Governance and Ownership Structure, available at www.monclergroup.com, Governance / Shareholders Meeting section.