131 COnSOLIdATed FInAnCIAL STATeMenTS130 COnSOLIdATed FInAnCIAL STATeMenTS MONCLER GROUP 2023

The following table shows the breakdown of the long-term borrow- ings in accordance with their maturity date:

AGEING OF THE LONG-TERM BORROWINGS

(Euro/000) 31/12/2023 31/12/2022 Within 2 years 146,829 163,333 From 2 to 5 years 295,161 334,904 Beyond 5 years 222,198 220,472 Total 664,188 718,709

The following tables shows the breakdown of the long-term bor- rowings, excluded financial lease liabilities, in accordance with their maturity date:

AGEING OF LONG-TERM BORROWINGS EXCLUDED LEASE LIABILITIES

(Euro/000) 31/12/2023 31/12/2022 Within 2 years 6,437 14,871 From 2 to 5 years 20,079 29,553 Beyond 5 years 0 0 Total 26,516 44,424

The non-discounted cash flows referring to the lease liabilities are shown below.

AGEING OF THE LEASE LIABILITIES NOT DISCOUNTED

(Euro/000) 31/12/2023 31/12/2022 Within 1 year 192,969 186,391 From 1 to 5 years 475,915 507,103 Beyond 5 years 245,300 237,991 Total 914,184 931,485

Long-term bank loans include outstanding amounts to be repaid to banks relating to unsecured loans taken out by the sub-group Stone Island companies.

Finally, the caption other short-term loans includes also the negative fair value, equal to eUR 4.4 million (compared to eUR 9.0 million negative as at 31 december 2022), related to the contracts to hedge the exchange rate risk. Please refer to note 9.3 for more details.

The net financial position is detailed in the following table:

NET FINANCIAL POSITION

(Euro/000) 31/12/2023 31/12/2022 A. Cash 998,799 882,254 B. Cash equivalents 0 0 C. Other current financial assets 78,308 11,351 d. Liquidity (A)+(B)+(C) 1,077,107 893,605 e . Current financial deBT (15,230) (23,447) F. Current portion of non-current financial debt (169,173) (170,623) G. Current financial indebtedness (e)+(F) (184,403) (194,070) H. net current financial indebtedness (G)+(d) 892,704 699,535 I. non current financial debt (637,672) (676,549) J. debt instruments 0 0 K. non-current trade and other payables (26,516) (42,160) L. non-current financial indebtedness (I)+(J)+(K) (664,188) (718,709) M. Total financial indebtedness (H)+(L) 228,516 (19,174)

net financial position as defined by the eSMA Guidelines of 4 March 2021 (Consob Warning notice no. 5/21 to the Consob Communication deM/6064293 of 28 July 2006).

5.16 SHAREHOLDERS EQUITY

Changes in shareholders equity for 2023 and the comparative peri- od are included in the consolidated statements of changes in equity.

As at 31 december 2023 the subscribed share capital constitut- ed by 274.627.673 shares was fully paid and amounted to eUR 54,925,535 with a nominal value of eUR 0.20 per share.

As at 31 december 2023 4,490,875 treasury shares were held, equal to 1.6% of the share capital, for a total value of eUR 173.3 million.

The legal reserve and premium reserve pertain to the parent company Moncler S.p.A.

In 2023 the Parent Company distributed dividends to the Group Shareholders for a gross unit amount of eUR 1.12 per ordi- nary share, for an amount of eUR 302.5 million (eUR 303.4 million div- idends paid in 2023), compared to eUR 0.60 per share of eUR 161.3 million distributed in 2022 (eUR 161.0 million dividends paid in 2022).

The change in the IFRS 2 reserve is due to the accounting treatment of the performance share plans, i.e., to the recognition of the figurative cost for the period relating to these plans and the re- classification to retained earnings of the cumulative figurative cost of the plans already closed.

The change in retained earnings mainly relates to the alloca- tion of 2022 result, the dividend distributions, the above-mentioned reclassification of the IFRS 2 reserve and the adjustment to the market value of the financial liabilities to non-banking third parties.

The caption FTA reserve includes the effects of the initial ap- plication of the IFRS 16.

The caption other reserves includes other comprehensive in- come comprising the exchange rate translation reserve of financial statements reported in foreign currencies, the reserve for hedging interest rate risks and exchange rates risks and the reserve for ac- tuarial gains/losses. The translation reserve includes the exchange differences emerging from the conversion of the financial state- ments of the foreign consolidated companies. The hedging reserve includes the effective portion of the net differences accumulated in the fair value of the derivative hedge instruments.

Changes to these reserves were as follows:

OTHER COMPREHENSIVE INCOME

(Euro/000) Cumulative translation Other OCI items adj. reserve Value before tax effect Tax effect Value after tax effect Value before tax effect Tax effect Value after tax effect Reserve as at 01/01/2022 869 0 869 (14,628) 3,495 (11,133) Changes in the period (12,383) 0 (12,383) 13,895 (3,321) 10,574 Translation differences of the period 0 0 0 0 0 0 Reversal in the income statement of the period 0 0 0 0 0 0 Reserve as at 31/12/2022 (11,514) 0 (11,514) (733) 174 (559) Reserve as at 01/01/2023 (11,514) 0 (11,514) (733) 174 (559) Changes in the period (28,780) 0 (28,780) (6,416) 1,542 (4,874) Translation differences of the period 0 0 0 0 0 0 Reversal in the income statement of the period 0 0 0 0 0 0 Reserve as at 31/12/2023 (40,294) 0 (40,294) (7,149) 1,716 (5,433)

eARnInG PeR SHARe earning per share for the years ended 31 december 2023 and 31 december 2022 is included in the following table and is based on the relationship between net income attributable to the Group and the average number of shares, net of treasury shares owned.

The diluted earnings per share is in line with the basic earn- ings per share as at 31 december 2023 as there were no signifi- cant dilutive effects arising from stock based compensation plans.

It should be noted that, for the diluted earnings per share cal- culation, the treasury share method has been applied, prescribed by IAS 33 paragraph 45 for stock-based compensation plans.

Earnings per share 2023 2022  net result of the period (euro/000) 611,931 606,697 Average number of shares related to parent s Shareholders 270,106,476 268,974,283 earnings attributable to Shareholders (Unit of euro) 2.27 2.26 diluted earnings attributable to Shareholders (Unit of euro) 2.26 2.24