125 COnSOLIdATed FInAnCIAL STATeMenTS124 COnSOLIdATed FInAnCIAL STATeMenTS MONCLER GROUP 2023

The taxable amount on which deferred tax assets have been calcu- lated is detailed in the following table:

DEFERRED TAX ASSETS AND LIABILITIES

(Euro/000) Taxable Closing balance Taxable Closing balance Amount 2023 31/12/2023 Amount 2022 31/12/2022 Tangible and intangible assets 105,883 27,597 91,866 24,220 Financial assets 0 0 0 0 Inventories 725,407 180,685 548,879 135,993 Trade receivables 15,860 4,372 8,769 2,157 derivatives 1,119 269 8,409 2,018 employee benefits 13,892 3,548 10,692 2,791 Provisions 69,542 20,060 72,163 20,881 Trade payables 28,545 7,981 28,657 7,997 Other temporary items 25,799 6,789 41,536 9,482 Tax loss carried forward 3,896 896 1,748 393 Tax assets 989,943 252,197 812,719 205,932 Tangible and intangible assets (218,050) (56,437) (55,066) (10,338) Financial assets (1,264) (303) (1,534) (378) Inventories 945 263 (5,106) (1,425) Trade receivables 0 0 0 0 derivatives (2,210) (530) (6,687) (1,605) employee benefits (57) (14) (454) (109) Provisions 0 0 (1,163) (279) Trade payables (18,464) (5,197) (194) (48) Other temporary items (3,103) (816) (3,456) (1,008) Tax loss carried forward 0 0 0 0 Tax liabilities (242,203) (63,034) (73,660) (15,190) Net deferred tax assets (liabilities) 747,740 189,163 739,059 190,742

5.5 INVENTORY

As at 31 december 2023 Inventory amounted to eUR 453.2 million (eUR 377.5 million as at 31 december 2022) and is broken down as follows:

INVENTORY

(Euro/000) 31/12/2023 31/12/2022 Raw materials 141,913 134,521 Work-in-progress 54,173 60,714 Finished products 519,529 424,143 Inventories, gross 715,615 619,378 Obsolescence provision (262,437) (241,829) Total 453,178 377,549

Inventory (gross amount) increased by approximately eUR 96.2 mil- lion (+15.5%) and mainly included raw materials and finished prod- ucts for the forthcoming seasons.

The obsolescence provision was calculated using manage- ment s best estimate based on the season needs and the inventory balance based on passed sales trends through alternative chan- nels and future sales volumes. This assumption is expressed dif- ferently for the Regions in which the Group operates, taking into account the characteristics of each market.

The change in the obsolescence provision is summarised in the fol- lowing table:

OBSOLESCENCE PROVISION - MOVEMENTS

(Euro/000) 01/01/2023 Other Accrued Used Translation 31/12/2023 movements Difference Obsolescence provision (241,829) 0 (63,917) 36,915 6,394 (262,437) Total (241,829) 0 (63,917) 36,915 6,394 (262,437)

OBSOLESCENCE PROVISION - MOVEMENTS

(Euro/000) 01/01/2022 Other Accrued Used Translation 31/12/2022 movements Difference Obsolescence provision (229,650) (427) (41,416) 28,824 840 (241,829) Total (229,650) (427) (41,416) 28,824 840 (241,829)

5.6 TRADE RECEIVABLES

As at 31 december 2023 Trade receivables amounted to eUR 325.6 million (eUR 296.6 million as at 31 december 2022) and they are as follows:

TRADE RECEIVABLES

(Euro/000) 31/12/2023 31/12/2022 Trade account receivables 341,155 311,691 Allowance for doubtful debt (14,764) (15,009) Allowance for discounts (783) (132) Total, net value 325,608 296,550

Trade receivables are related to the Group s wholesale and conces- sion business and they include balances with a collection time not greater than three months. during 2023 and 2022, there were no concentration of credit risk greater than 10% associated to individ- ual customers. Please refer to note 9.1 for information regarding the exposure of trade receivables to currency risks.

The change in the allowance for doubtful debt and sales return is detailed in the following tables:

DOUBTFUL DEBT AND DISCOUNTS ALLOWANCE

(Euro/000) 01/01/2023 Changes in Accrued Used Translation 31/12/2023 consolidation Difference area Allowance for doubtful debt (15,009) 0 (280) 433 92 (14,764) Allowance for discounts (132) 0 (654) 0 3 (783) Total (15,141) 0 (934) 433 95 (15,547)

DOUBTFUL DEBT AND DISCOUNTS ALLOWANCE

(Euro/000) 01/01/2022 Changes in Accrued Used Translation 31/12/2022 consolidation Difference area Allowance for doubtful debt (13,871) 0 (1,601) 540 (77) (15,009) Allowance for discounts (92) 0 (36) 0 (4) (132) Total (13,963) 0 (1,637) 540 (81) (15,141)

The allowance for doubtful debt was calculated in accordance with management s best estimate based on the ageing of accounts re- ceivable as well as the solvency of the most aged accounts and also taking into consideration any balances turned over into col- lection proceedings. Trade receivables written down are related to specific balances that were past due and for which collection is un- certain. In addition, the bad debt provision includes an estimate of the expected loss relating to trade receivables in bonis to take in- to account the changed economic context and also covers any risk of revocation on trade receivables.