92 COnSOLIdATed FInAnCIAL STATeMenTS MONCLER GROUP 2023

CONSOLIDATED STATEMENT OF CASH FLOWS

(Euro/000) Year of which Year of which 2023 related parties 2022 related parties Cash flow from operating activities Consolidated result 611,902 606,706 depreciation and amortization 291,700 264,917 net financial (income)/expenses 23,204 27,216 equity-settled share-based 39,966 37,015 payment transactions Income tax expenses 258,733 140,625 Changes in inventories (72,862) (120,225) - (Increase)/decrease Changes in trade receivables (47,934) 15,644 (88,124) (8,051) - (Increase)/decrease Changes in trade payables 67,282 27,895 163,314 8,911 - Increase/(decrease) Changes in other current assets/liabilities 23,565 2,229 (21,574) (56) Cash flow generated/(absorbed) 1,195,556 1,009,870 from operating activities Interest and other bank charges received 8,334 14 Income tax paid (285,112) (342,127) Changes in other non-current (3,913) (5,180) assets/liabilities Net cash flow from operating 914,865 662,577 activities (a)

Cash flow from investing activities Purchase of tangible (176,423) (169,853) and intangible fixed assets Proceeds from sale of tangible 2,355 2,754 and intangible fixed assets Net cash flow from (174,068) (167,099) investing activities (b)

Cash flow from financing activities Repayment of borrowings (8,197) (11,803) Investments in government bonds (68,605) 0 Repayment of current (200,796) (170,502) and non-current lease liabilities Short-term borrowings variation (15,584) (2,565) dividends paid to shareholders (303,443) (160,960) Treasury Shares variation 0 (48,352) Other changes in net equity 0 2,929 Net cash flow from (596,625) (391,253) financing activities (c) Net increase/(decrease) in cash 144,172 104,225 and cash equivalents (a)+(b)+(c) Cash and cash equivalents 882,254 802,715 at the beginning of the period Effect of exchange rate changes (27,627) (24,686) Net increase/(decrease) 144,172 104,225 in cash and cash equivalents Cash and cash equivalents 998,799 882,254 at the end of the period

On behalf of the Board of directors of Moncler S.p.A.

ReMO RUFFInI CHAIRMAn And CHIeF exeCUTIVe OFFICeR