Moncler - Annual report 2020

MONCLER ANNUAL REPORT AT 31 DECEMBER 2020ATTACHMENTS 205204

At the meeting on 5 March 2021, the Board of Statutory Auditors examined the draft supplementary Report prepared by the external auditing firm KPMG under Art. 11 of Regulation EU 537/2014, later issued on 10th March 2021, and found that it did not reveal any significant deficiencies in the internal control system with regard to the financial reporting process. The content of that report was then discussed and investigated further during the periodic exchanges of information between the Board of Statutory Auditors and the independent auditing firm.

4.3 Non-financial reporting process The Board of Statutory Auditors would like to remind the shareholders that under Legislative Decree 254/2016 as amended and the related enacting regulation issued by CONSOB in its decision 20267 of 18 January 2018, the Company is required to prepare and publish a consolidated Non-Financial Report ( NFR ).In accordance with Legislative Decree no. 254/2016, the NFR provides non-financial information about the Company and its subsidiaries to the extent necessary to ensure a clear understanding of the Group s activities, its performance, its results and the impact thereof . As provided for in Article 3 paragraph 7 of Legislative Decree 254/2016, the Board of Statutory Auditors, in performing its legal functions, oversaw the compliance with the regulations requiring the preparation and publication of a non-financial report. The Board of Directors approved the NFR on 18 February 2021;it was prepared in accordance with Legislative Decree 254/2016, and took into consideration the GRI-Global Reporting Initiative standards. The Board also noted that on 10 March 2021, the external auditing firm issued the Report required under Article 3 paragraph 10 of Legislative Decree 254/2016. In that report, KPMG attested that on the basis of its work, nothing had come to its attention that would lead it to consider that the NFR had not been drafted, in all its material aspects, in accordance with the requirements of Articles 3 and 4 of Legislative Decree 254/2016 or with the Group reporting standards. The Board of Statutory Auditors observed, in turn, that on the basis of its activities it had not received any indications of any elements of non-conformity of the NFR compared to the regulatory provisions governing its preparation and publication.

5.Oversight of the legal auditing of accounts

5.1 Legal auditing of the accounts In accordance with the provisions of Article 19 of Legislative Decree 39/2010, the Board of Statutory Auditors which is identified in that Article as the Audit Committee for Internal Control and Accounts performed the required oversight of the work of the External Auditing Firm. The Board of Statutory Auditors met the External Auditing Firm KPMG S.p.A. on several occasions,

also pursuant to Article 150 TUF, in order to exchange information about that firm s activity. At the meetings, the External Auditing Firm did not highlight anything that could be considered open to criticism, nor any irregularity that would require a mention pursuant to Article 155 paragraph 2 TUF. On 10 March 2021 the Auditing Firm, pursuant to Article 14 of Legislative Decree 39/2010, issued the Independent Auditor s Report on the Separate Financial Statements and the Consolidated Financial Statements for the year ending 31 December 2020. With regard to the opinions and certifications, in its independent auditing report, the External Auditing Firm:

 gave an opinion which indicates that the Separate and the Consolidated Financial Statements of Moncler provide a true and accurate representation of the financial and equity situation of Moncler and of the Group to 31 December 2020, of the profit and loss result and the cash flow for the year ending on the same date, in accordance with the International Financial Reporting Standards adopted by the European Union and with the provisions issued in implementation of Article 9 of Legislative Decree 38/05;

 issued a declaration of consistency, which shows that the Board of Directors Report accompanying the Separate and the Consolidated Financial Statementsas of 31 December 2020 and some of the specific information in the Report on Corporate Governance and Ownership indicated in Article 123a para. 4 TUF, for which the Company s directors are responsible, was prepared in accordance with the provisions of law;

 declared that they had nothing to report, in terms of any significant errors in the Board of Directors Report , on the basis of their knowledge and understanding of the business and its context acquired during the course of the audit activity;

 verified the directors approval of the Non-Financial Report.

After attending the meetings of the Control, Risks and Sustainability Committee, in the presence of the Officer Responsible for the Preparation of the Company s Financial Statements, acting also in his capacity as the Director in charge of the Internal Control and Risk Management System, and of the managers of the External Auditing Firm, the Board of Statutory Auditors has no observations to make as to the proper use of the accounting standards or their consistent use in the preparation of the consolidated financial report. On 10 March 2021, the External Auditing Firm also gave the Board of Statutory Auditors a supplementary report as provided for in Article 11 of Regulation (EU) No. 537/2014. In an annex to that report, the auditing firm also gave the Board of Statutory Auditors a declaration on independence, as required by Article 6 of Regulation (EU) No. 537/2014, which did not reveal any situation that could compromise independence. In accordance with the provisions of Article 19 paragraph 1 a) of Legislative Decree 39/2010, the Board duly sent the supplementary report to the Board of Directors, without making any observations.