MONCLER ANNUAL REPORT AT 31 DECEMBER 2020CONSOLIDATED FINANCIAL STATEMENTS 101100

3.

SCOPE FOR CONSOLIDATION

As far as the scope of consolidation is concerned, the following changes occurred during the year 2020 compared to 31 December 2019: in the first quarter of 2020 the company Moncler USA Retail LLC has been merged in the company Moncler USA Inc.; the company Moncler New Zeland Limited was established in the second quarter of 2020 and it was included in the consol-

idation scope starting from the date of its establishment. We highlighted that, in the first quarter of 2020, the Group acquired, from the local partner, the first tranche (equal to 39.01% of total share capital) of the partner s stake in Moncler Shinsegae Inc., bringing the percentage of ownership to 90.01%. Please note that Moncler Shinsegae Inc., Moncler Istanbul Giyim ve Tekstil Ticaret Ltd. sti. and Moncler Japan Corporation, are fully consolidated, same as in the previous periods, without attribution of interest to third parties, following to the accounting treatment of the agreements between the partners.

Investments (in associates for consolidation) Registered office Share capital Currency % of ownership Parent company

Moncler S.p.A. Milan (Italy) 51,670,525 EUR

Industries S.p.A. Milan (Italy) 15,000,000 EUR 100.00% Moncler S.p.A.

Moncler Deutschland GmbH Munich (Germany) 700,000 EUR 100.00% Industries S.p.A.

Moncler España S.L. Madrid (Spain) 50,000 EUR 100.00% Industries S.p.A.

Moncler Asia Pacific Ltd Hong Kong (China) 300,000 HKD 100.00% Industries S.p.A.

Moncler France S.à.r.l. Paris (France) 8,000,000 EUR 100.00% Industries S.p.A.

Moncler US A Inc New York (USA) 1,000 USD 100.00% Industries S.p.A.

Moncler UK Ltd London (United Kingdom) 2,000,000 GBP 100.00% Industries S.p.A.

Moncler Japan Corporation (*) (**) Tokyo (Japan) 150,788,654 JPY 65.97% Industries S.p.A.

Moncler Shanghai Commercial Co. Ltd Shanghai (China) 82,483,914 CNY 100.00% Industries S.p.A.

Moncler Suisse SA Chiasso (Switzerland) 3,000,000 CHF 100.00% Industries S.p.A.

Moncler Belgium S .p.r.l. Bruxelles (Belgium) 1,800,000 EUR 100.00% Industries S.p.A.

Moncler Denmark ApS Copenhagen (Denmark) 2,465,000 DKK 100.00% Industries S.p.A.

Moncler Holland B.V. Amsterdam (Holland) 18,000 EUR 100.00% Industries S.p.A.

Moncler Hungary KFT Budapest (Hungary) 150,000,000 HUF 100.00% Industries S.p.A.

Moncler Istanbul Giyim ve Tekstil Ticaret Ltd. Sti. (*) Istanbul (Turkey) 1,000,000 TRY 51.00% Industries S.p.A.

Moncler Sylt Gmbh (*) Hamm (Germany) 100,000 EUR 51.00% Moncler Deutschland GmbH

Moncler Rus LLC Moscow (Russian Federation)

590,000,000 RUB 99.99% 0.01%

Industries S.p.A. Moncler Suisse SA

Moncler Brasil Comércio de moda e acessòrios Ltda. Sao Paulo (Brazil) 10,000,000 BRL 95.00% 5.00%

Industries S.p.A. Moncler USA Inc.

Moncler Taiwan Limited Taipei (China) 10,000,000 TWD 100.00% Industries S.p.A.

Moncler Canada Ltd Vancouver (Canada) 1,000 CAD 100.00% Industries S.p.A.

Moncler Prague s.r.o. Prague (Czech Republic) 200,000 CZK 100.00% Industries S.p.A.

White Tech Sp.zo.o. Katowice (Poland) 369,000 PLN 70.00% Industries S.p.A.

Moncler Korea Inc. (* ) (** *) Seoul (South Korea) 2,833,000,000 KRW 90.01% Industries S.p.A.

Moncler Middle East FZ-LLC Dubai (United Arab Emirates)

3,050,000 AED 100.00% Industries S.p.A.

Moncler Singapore PTE, Limited Singapore 5,000,000 SGD 100.00% Industries S.p.A.

Industries Yield S.r.l. Bacau (Romania) 25,897,000 RON 99.00% 1.00%

Industries S.p.A. Moncler Deutschland GmbH

Moncler UAE LLC (*) Abu Dhabi (United Arab Emirates)

1,000,000 AED 49.00% Moncler Middle East FZ-LLC

Moncler Ireland Limited Dublin (Ireland) 350,000 EUR 100.00% Industries S.p.A.

Moncler Australia P TY LTD Melbourne (Australia) 2,500,000 AUD 100.00% Industries S.p.A.

Moncler Kazakhs tan LLP Almaty (Kazakhstan) 250,000,000 KZT 99.00% 1.00%

Industries S .p.A. Moncler Rus LLC

Moncler S weden AB Stockholm (Sweden) 1,000,000 SEK 100.00% Industries S.p.A.

Moncler Norway AS Oslo (Norway) 3,000,000 NOK 100.00% Industries S.p.A.

Moncler Mexico, S. de R.L. de C .V. Mexico City (Mexico) 33,000,000 MXN 99.00% 1.00%

Industries S.p.A. Moncler USA Inc

Moncler Mexico Services, S. de R.L. de C.V. Mexico City (Mexico) 11,000,000 MXN 99.00% 1.00%

Industries S.p.A. Moncler USA Inc

Moncler Ukraine LLC Kiev (Ukraine) 47,367,417 UAH 99.99% 0.01%

Industries S.p.A. Moncler Suisse SA

Moncler New Zealand Limited Auckland (New Zealand) 2,000,000 NZD 100.00% Industries S.p.A.

(*) Fully consolidated (without attribution of interest to third parties) (**) Share capital value and % of ownership take into consideration the treasury shares held by Moncler Japan Corporation. (***) Company previously named Moncler Shinsegae Inc.

As at 31 December 2020 the Consolidated Financial Statements of the Moncler Group include the parent company Moncler S.p.A. and 36 consolidated subsidiaries, as detailed in the following table: