92 CONSOLIDATED FINANCIAL STATEMENTS MONCLER GROUP 2022

CONSOLIDATED STATEMENT OF CASH FLOWS

(Euro/000) Year of which Year of which 2022 related parties 2021 related parties Cash flow from operating activities Consolidated result 606,706 393,553 Depreciation and amortization 264,917 246,519 Net financial (income)/expenses 27,216 21,608 Equity-settled share-based 36,923 28,432 payment transactions Income tax expenses 140,625 164,059 Changes in inventories (120,225) (20,557) - (Increase)/Decrease Changes in trade receivables (88,124) (8,051) 24,657 (880) - (Increase)/Decrease Changes in trade payables 163,314 8,911 105,780 (2,331) - Increase/(Decrease) Changes in other current (21,482) (56) 46,293 4,572 assets/liabilities Cash flow generated/(absorbed) 1,009,870 1,010,344 from operating activities Interest and other bank charges paid 0 (362) Interest and other bank charges received 14 0 Income tax paid (342,127) (146,715) Changes in other non-current assets/liabilities (5,180) 2,047 Net cash flow from operating activities (a) 662,577 865,314 Cash flow from investing activities Purchase of tangible (169,853) (131,828) and intangible fixed assets Proceeds from sale of tangible 2,754 7,147 and intangible fixed assets Acquisition of Business Unit 0 (496,728) and cash and cash equivalent acquired Net cash flow from investing activities (b) (167,099) (621,409) Cash flow from financing activities Repayment of borrowings (11,803) (32,643) Repayment of current (170,500) (146,301) and non-current lease liabilities Short-term borrowings variation (2,567) (44,836) Dividends paid to shareholders (160,960) (120,679) Treasury Shares variation (48,352) 0 Other changes in Net Equity 2,929 (721) Net cash flow from financing activities (c) (391,253) (345,180) Net increase/(decrease) in cash 104,225 (101,275) and cash equivalents (a)+(b)+(c) Cash and cash equivalents 802,715 923,483 at the beginning of the period Effect of exchange rate changes (24,686) (19,493) Net increase/(decrease) 104,225 (101,275) in cash and cash equivalents Cash and cash equivalents 882,254 802,715 at the end of the period

On behalf of the Board of Directors of Moncler S.p.A.

REMO RUFFINI CHAIRMAN AND CHIEF EXECUTIVE OFFICER