MONCLER ANNUAL REPORT AT 31 DECEMBER 2020ATTACHMENTS 199198

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quinquiedecies of the Issuers Regulation with regard to the limits on the number of corporate offices held. The outcome of the assessment performed for each member of the Board also confirmed compliance with the requirements as set out in the Bylaws and the Code of Self-governance (from 1 January 2021, the Code of Corporate Governance), which the company has adopted. The Board of Statutory Auditors now reports on its activities in 2020. The relevant information is provided below in accordance with the applicable provisions.

1. Supervision of compliance with laws, regulations and statutory provisions

During the year, the Board performed its activities by holding 15 meetings of which 3 were held by the Board of Statutory Auditors previously in office, and 12 were held by the Board currently in office. The current Board also attended 14 meetings of the Board of Directors, and was present, either through all of its members or through its chairman and/or another auditor:

 at 4 meetings of the Control, Risks and Sustainability Committee;

 at 7 meetings of the Nomination and Remuneration Committee ;

 at 6 meetings of the Related Parties Committee . As part of its control activity the Board, among other things:

- oversaw compliance with laws, the company bylaws and industry regulations, also with reference to obligations concerning regulated or insider information, or information requested by the regulatory authorities;

- oversaw compliance with the principles of sound administration, and the functioning and adequacy of the company s organisational structure and of its internal control, accounting and administration systems, by collecting data and information from the heads of the company departments involved, from the Officer Responsible for the Preparation of the Company s Financial Statements and from KPMG, the firm engaged for the legal auditing of the accounts;

- oversaw the adequacy of the Company s control functions, and their independence; - in accordance with Article 149, para. 1 c-bis of Legislative Decree 58/1998, it oversaw the

methods used in practice to implement the Code of Corporate Governance for listed companies, which the Company has adopted;

- checked that the criteria and verification procedures used by the Board to assess the various requirements for directors and statutory auditors have been properly applied;

- conducted its supervision of the internal control system, relying also on the activity of the Head of Internal Audit who attended some of the Board meetings ;

- oversaw the conformity of the regulation approved by the Board of Directors concerning related party transactions with the principles contained in Consob resolution no. 17221 of 12 March 2010 as amended, and oversaw compliance with said Regulation;

- met with the Supervisory Body set up in accordance with Legislative Decree 231/2001;

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- met the Board of Statutory Auditors of the Group company Industries S.p.A., discussing, among other things, procedures for properly exchanging information about their activities;

- oversaw the adoption of remuneration policies that are subject to approval by the shareholders meeting;

- held meetings and obtained information, also by attending the meetings of the Control, Risks and Sustainability Committee, from the Director in charge of the Internal Control and Risk Management System, also in his role as Officer Responsible for the Preparation of the Financial Statements, and from the CFO and heads of other company departments who were involved from time to time in the Board s supervisory activities.

With regard to the provisions of Article 2408 of the civil code, the Board of Statutory Auditors hereby informs the Shareholders Meeting that no complaints were received from shareholders in 2020, concerning reportable events. During the year, as far as the Board is aware there was no case of breach of the directors duties as provided for in Articles 2406 and 2409 of the civil code.

2. Respect for the principles of sound administration and relations with related parties

The Board of Statutory Auditors oversaw the Company s compliance with laws and with the company bylaws and the principles of sound administration, with particular reference to operations which were significant in terms of profit or loss, financial aspects or equity, by regularly attending the meetings of the Board of Directors and by examining the documents provided. In this regard, the Board of Statutory Auditors obtained from the CEO and from the Board of Directors information about the activities performed and about the major financial and equity operations carried out by the Company, also through its direct or indirect subsidiaries; that information is represented in detail in the Board of Directors Report, to which please refer. On the basis of the information made available to the Board, it can reasonably be considered that these operations were carried out in accordance with the law and the company bylaws, and that they were not manifestly imprudent, reckless nor did they conflict with the resolutions passed by the shareholders meeting, nor would they compromise the integrity of the Company s assets. In particular the Board was informed about any operations in which the directors declared an interest either on their own account or on behalf of a third party, and they have no observations to make regarding the legal compliance of the related decisions.

2.1 Significant events Information about the significant events involving the Company and the Group in 2020 and in the first part of 2021 is contained in the Annual Report and Consolidated Financial Statements for 2020. These events include, in particular: -When initial reports were received about the spread of Covid-19, the Company promptly appointed an internal Task Force dedicated to managing the public health emergency, and immediately implemented