39 BOARd OF dIReCTORS RePORT38 BOARd OF dIReCTORS RePORT MONCLER GROUP 2023

cler s strong commitment to sustainable development, are key ele- ments in the process of attracting talent, especially among younger generations. The Group needs their strong technical, professional and managerial skills, as well as their passion, dynamism, flexibili- ty, vision, drive for innovation and harmony with the Group s values.

To identify top talent, the Group has been using a perfor- mance evaluation system that measures the skills demonstrated in achieving assigned objectives for years for the Moncler brand and it is now gradually implementing this system at Stone Island as well.

Knowledge, problem-solving and impact on the business are the meta-dimensions taken into account by the evaluation model underlying the remuneration review process, providing it with a sol- id basis of fairness, equal opportunities, meritocracy and competi- tiveness with the market.

The Group s remuneration system includes: short-term variable remuneration systems, annual MBO (man-

agement by objectives) for executives, managers and pro- fessionals, mainly based on the achievement of measurable qualitative and quantitative economic objectives linked to ac- tivities and processes of strategic importance to the business, identified according to a balanced scorecard. All those involved in implementing the Sustainability Plan in the MBO system are assigned social or environmental objectives related to the im- plementation of the Plan. Risk management indicators are also included in the schemes, with the aim of spreading a cul- ture of risk assessment and management in decision-making;

team and individual sales commission systems that reward service excellence and quality and business development for sales network employees;

medium-to-long-term incentive systems, such as perfor- mance share plans, for top management and key roles, which have a particular impact on the business, regardless of or- ganisational level. These systems are linked to medium-to- long-term performance conditions and eSG indicators as evidence of management s commitment to sustainability is- sues. The medium-to-long-term incentive system is an im- portant component of the pay mix and makes up the majority of total compensation for the top management.

All of Moncler s variable remuneration systems are designed to en- courage the achievement of distinctive results through mecha- nisms that reward overperformance by increasing the value of the bonus that can be obtained, starting from a certain threshold, if the objectives assigned as targets are exceeded. Finally, the com- pensation package offered to employees is rounded out by various benefits, including life insurance, pension and welfare plans and in- formation and prevention programmes.

International mobility a pillar of the people development strat- egy is regulated by the Global Mobility Policy, laying down the Com- pany s commitment to ensure a fair, competitive, incentive-based and globally consistent economic treatment of expatriates.

Through its remuneration policy, the Group promotes and en- hances an inclusive culture: during 2023, the analysis aimed at ob- taining equal pay certification progressed further, confirming the approach aimed at closing the gender pay gap.

The progress made towards gender balance targets are mea- sured through a de&I dashboard, developed in 2022, which allows to analyse the most important KPIs in this area.

de&I

Moncler is committed to strengthening the culture of inclusion and enhancing diversity, inside and outside of the company, through a diversity, equity & Inclu- sion (de&I) program. nurture Uniqueness is indeed one of the five pillars of the 2020-2025 sustainability plan dedicated to promoting diversity and inclusion.

during 2023, efforts continued in the area of diversity promotion to raise everyone s awareness of inclusiveness issues. A training session on promoting diversity within complex organisations was conducted, physically involving em- ployees at the Headquarters and simultaneously broadcasting the content to all regions. This event represents the first step in a programme that will focus on in- clusive leadership in 2024.

A specific module on Unconscious Bias continues to be available for the en- tire company population, which can be accessed via the internal training platforms.

As regards the differences between genders, the percentage weight of wom- en on the total workforce is predominant. In fact, the female presence stands at 69%, substantially in line with 2022. The percentage of women is high in all geo- graphical areas and in the managerial bracket (managers, executives and se- nior executives) is equal to 51%. Women represent 71% of the population with permanent contracts and 57% of those with temporary contracts. 61% of the contracts transformed into permanent contracts in 2023 are for women. By an- alyzing the breakdown by gender in terms of company seniority, distribution by age group, level of education, no deviations from the general trend are observed.

TRAINING Training plays a key role in the process of harnessing the potential of individuals. It is fundamental to developing and consolidating indi- vidual skills to encourage the constant upskilling of key knowledge necessary to support a constantly changing business.

The head office training strategy, MAKE (Moncler Academy for Knowledge and Excellence), continued to evolve. This strategy has three main pillars:

Leadership as a key factor in organisational development; Recognising that learning is a part of every activity; Individual knowledge becomes a collective asset through

sharing.

The main activities carried out in 2023 were: MOnCampus: a programme now in its third year, designed

for talented young people and managed entirely by internal trainers;

Makers Lab: a programme where internal Company experts share their knowledge of specific activities, processes and tools;

eMpower: the project, launched in February 2023, represents a tangible commitment to support and empower new employ- ees through targeted training programmes. during 2023, the initiative involved 188 people for a total of 1,565 training hours.

In 2023, the third edition of the MATE project took place, an internal technical training academy for recent graduates from technical and vocational institutions.

The Company remains committed to completion of mandato- ry training: GdPR, Law 231, Health and Safety and the Code of eth- ics are the main chapters developed by the Group at a global level.

during 2023, efforts continued in the area of diversity promo- tion to raise everyone s awareness of inclusiveness issues. A train- ing session on promoting diversity within complex organisations was conducted, physically involving employees at Headquarters and simultaneously broadcasting the content to all regions. This event represents the first step in a programme that will focus on in- clusive leadership in 2024.

A specific module on Unconscious Bias continues to be available for the entire population, which can be accessed via inter- nal training platforms.

In 2023 the Group delivered 305,161 total training hours. As at 31 december 2023 the Group had 7,510 employees

(7,203 full-time equivalents or FTes), of whom approximately 48% were employed in direct stores, compared with 49% in 2022. The Moncler brand had 6,754 employees (6,483 FTes) and Stone Is- land 756 (720 FTes).

At Group level, the distribution by geographical area sees the eMeA area employing 67% of total FTes, followed by Asia with 26% and the Americas with 7%.