17 BOARd OF dIReCTORS RePORT16 BOARd OF dIReCTORS RePORT MONCLER GROUP 2023

dear Shareholders, As we reflect on the achievements of 2023, I cannot help but re- call that this year marked a significant milestone for our company the 10-year anniversary of our listing on the Milan Stock exchange.

We are delighted to celebrate this important occasion with an excellent set of 2023 results.

Highlights of our performance include reaching a record of 2.98 billion euros in Group revenues, more than 5 times the level of ten years ago, registering an eBIT margin of 30%, and surpassing for the first time 1 billion euros of net cash.

While I am very proud of these financial achievements, I am even more proud of what they represent. They are a reflection of a decade of thinking beyond conventions, a constant search for prod- uct excellence, a consistent customer-centric focus, and above all, a brand-first strategy that continues to guide our Group and inspire our people.

Looking ahead, our journey continues. At Moncler, we remain committed to strengthening the three dimensions of our brand Col- lection, Genius and Grenoble ensuring continued resonance with existing communities while reaching new ones. Meanwhile, Stone Island is embarking on an exciting new chapter under a new brand and communication strategy, poised to unleash its full potential.

Sustainability remains key for our Group, as we continue to integrate social and environmental elements into our business model. Our collections are including more and more recycled, or- ganic and other certified materials, and we continue to collaborate with our supply chain to make larger scale improvements. even if our efforts have been recognized externally by major global eSG rating agencies, we know that there is much more to achieve.

The operating environment remains complex and unpredict- able. We will continue to navigate through these uncertainties re- maining vigilant while leveraging on our agility and reactivity. At the same time, we will continue to invest in our organisation, in our brands and in the exceptional talent within our Group.

Our long-term vision, our emotions, and our passion continue to drive us onward, just as they did back in 2013. We are fuelled by our dreams and determined to achieve new ambitious goals.

In closing, I extend my heartfelt gratitude to our sharehold- ers, our customers, and all our employees for their unwavering sup- port and commitment. Together, we will continue to push for higher peaks and create value for all stakeholders.

Thank you.

ReMO RUFFInI CHAIRMAn And CeO

CHAIRMAN S LETTER