187 SePARATe FInAnCIAL STATeMenTS186 SePARATe FInAnCIAL STATeMenTS MONCLER GROUP 2023

The following table show 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 636 1,074 From 2 to 5 years 251,665 51,958 Beyond 5 years 1,174 1,954 Total 253,475 54,986

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 997 1,222 From 1 to 5 years 2,441 3,224 Beyond 5 years 1,193 2,009 Total 4,631 6,455

4.15 TAX ASSETS AND LIABILITIES Tax assets amount to eUR 5,365 thousand as at 31 december 2023 (not present as at 31 december 2022).

Tax liabilities amount to eUR 1,723 thousand as at 31 decem- ber 2023, net of current tax assets (eUR 42,656 thousand as at 31 december 2022). The balance pertains to IReS and IRAP payable.

4.16 SHAREHOLDERS 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.

Changes in shareholders equity for 2023 and the compara- tive period are included in the consolidated statements of chang- es in equity. 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 173,321 thousand.

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 and the above-men- tioned reclassification of the IFRS 2 reserve.

In 2023 the Company distributed dividends to the sharehold- ers for an amount of eUR 302,525 thousand (eUR 303,443 thou- sand dividends paid in 2023) compared to eUR 161,288 thousand distributed in 2022 (eUR 160,960 thousand dividends paid in 2022).

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

The following table includes details about how the shareholders re- serve should be used:

INFORMATION ON RESERVES

(Euro) Amount Possible Available Non-available Amounts used Amounts used use amount amount in the previous in the previous 3 years to 3 years for hedge losses other reason Share capital 54,925,535 - - 54,925,535 - - Reserves: Legal reserve 10,985,107 B - 10,985,107 - - Share premium 745,308,990 A, B, C 745,308,990 (*) - - - OCI Reserve (128,830) - - (128,830) - - Revaluation reserve 85,963 A, B 85,963 - - - FTA Reserve (19,585) A, B, C - (19,585) - - IFRS 2 Reserve 57,042,417 A, B, C - 57,042,417 - - Retained earnings 334,653,447 A, B, C 334,524,617 128,830 - 282,562,848 Total share capital and reserves 1,202,853,044 1,079,919,570 122,933,474 - 282,562,848 Non distributable amount 35,677 Distributable remaining amount 1,079,883,893

explanation: A share capital increase - B hedge of losses - C distribution to the shareholders (*) Share premium reserve entirely available after allocating to legal reserve up to 20% of the share capital

In view of the realignment of the Moncler trademark s tax value to the statutory value, as required by Law decree 104/2020 (the so- called August decree), art. 110, par. 8, the Retained earnings re- serve has been appointed as deferred tax reserve for an amount equal to eUR 217,150,636.

The caption OCI ( Other Comprehensive Income ) reserve includes the actuarial risks related to the employee pension fund.

Changes in that reserve are as follows:

OTHER COMPREHENSIVE INCOME

(Euro/000) Employees pension fund - actuarial valuation Fair value IRS Value before Tax effect Value after Value before Tax effect Value after tax effect tax effect tax effect tax effect Reserve as at 1 January 2022 (239) 38 (201) 0 0 0 Reclassification to Other reserves 0 0 0 0 0 0 Changes in the period 23 0 23 0 0 0 Translation differences of the period 0 0 0 0 0 0 Reversal in the income statement 0 0 0 0 0 0 of the period Reserve as at 31 December 2022 (216) 38 (178) 0 0 0 Reserve as at 1 January 2023 (216) 38 (178) 0 0 0 Reclassification to Other reserves 0 0 0 0 0 0 Changes in the period 50 0 50 0 0 0 Translation differences of the period 0 0 0 0 0 0 Reversal in the income statement 0 0 0 0 0 0 of the period Reserve as at 31 December 2023 (166) 38 (128) 0 0 0

5.1 COMMITMENTS

The Company does not have significant commitments arising from operating lease contract or other contractual cases that do not fall within the scope of IFRS 16.

5.2 GUARANTEES GIVEN

As at the date of the financial statements, the Company had no guarantees toward the Group companies nor third parties.

5 COMMITMENTS AND GUARANTEES GIVEN