MONCLER ANNUAL REPORT AT 31 DECEMBER 2020ATTACHMENTS 207206

10

The Annual Report, which includes the Board of Directors Report, the Consolidated Financial Statements and the Separate Financial Statements, illustrates the business performance and the growth of the Group. It also contains the appropriate information about Covid-19.

5.2 Activities of the Board of Statutory Auditors with reference to non-audit services During 2020, in accordance with the provisions of Article 19 paragraph 1e) of Legislative Decree 39 2010 and Article 5 paragraph 4 of Regulation EU 537/2014, the Board of Statutory Auditors, in its role as the Audit Committee for Internal Control and Accounts, pre-reviewed the proposals submitted for its attention, regarding the conferral of non-audit services to the Auditing Firm or to companies in its network. In its assessment, the Board of Statutory Auditors verified the compatibility of these services with the prohibitions imposed in Article 5 of Regulation EU 537/2014, and also the absence of potential risks to the auditors independence deriving from the provision of non-audit services, in view of the provisions of Legislative Decree 39/2010 (Article 10 et seq) in the Issuers Regulation (1498 et seq) and Auditing Standard no. 100. Where the legal requirements were met, the Board approved the conferral of the services to KPMG or to other companies in its network. The fees paid for non-audit services provided to the Company and its subsidiaries in 2020 by the External Auditing Firm or by other companies in its network, are itemised, with details of audit services, attestation and other services, in paragraph 10.7 of the Notes to the consolidated accounts, to which please refer. During the course of the year the Board of Statutory Auditors, in its capacity as the Audit Committee for Internal Control and Accounts, also supervised the trend in the payment of fees in light of the limits of Article 4 of Regulation EU 537/2014.

5.3 Activities of the Board of Statutory Auditors in view of conferral of the mandate for the legal auditing of accounts for the nine-year period 2022-2031

In December 2020 the Board of Statutory Auditors, in its capacity as the Audit Committee for Internal Control and Accounts, supported by the competent company offices, commenced a procedure to identify the new auditing firm to whom the mandate for the 2022-2031 period would be given. The decision to start this procedure early, ahead of the expiry of KPMG s mandate (on the approval of the financial statements to 31 December 2021) was dictated mainly by the need to assure compliance with the independence criteria for auditing firms as laid down in Regulation EU 537/2014, by which the Company is bound in its capacity as a public interest entity (PIE). Art. 5 of Regulation EU 537/2014 identifies specific services that the auditor and companies in its network cannot provide to the entity in question or to its subsidiaries, also in the cooling-in period , which is the year immediately prior to the first year of the auditing mandate (in the case of Moncler, in the 2021 financial year). Secondly, the appointment of the new auditor ahead of the expiry of the auditing firm currently under mandate,

11

facilitates the handover between the incoming and outgoing auditors. This allows the incoming auditor to deal more efficiently with its naturally less extensive knowledge of the PIE and its group, with a view to improving the quality of the legal audit.In accordance with the requirements of Article 16 of Regulation EU 537/2014, the procedure for the selection of the new auditor was conducted in a fully transparent, traceable manner and on the basis of clear, non-discriminatory evaluation criteria.The Board of Statutory Auditors has agreed with the Company and with the controlling body of the subsidiary Industries S.p.A., that the award to a single entity of the mandate to audit the accounts of the whole Group allows for greater efficiency and quality in the performance of the audit activities.The single- auditor approach also meets the need for greater consistency in the application of rules regarding auditors independence. In accordance with the applicable laws, auditing firms with experience and competence in auditing the accounts of publicly-listed companies, and with suitable knowledge and offices to perform the auditing mandate within an international group operating in the insurance sector, were invited to take part in the procedure.The Board of Statutory Auditors examined the candidates proposals in detail, and met with their representatives, assisted by the competent company offices. At the end of the tender procedure, at a meeting on 3 March 2021, the Board of Statutory Auditors approved the recommendation required pursuant to Article 16 paragraph2 of Regulation EU 537/2014, which was made available to the Company s shareholders ahead of the meeting to approve the financial statements to 31 December 2020, which was called to authorise the granting of the auditing mandate.In the Recommendation, in accordance with the provisions of Article 16 of Regulation EU 537/2014, the Board of Statutory Auditors indicated two possible alternatives and expressed a duly justified preference for one of the two candidates. The Recommendation also contained a detailed illustration of the phases of the selection procedure, the selection criteria that were applied, and the outcome of the assessments made by the Board of Statutory Auditors.

6. Adoption of the Corporate Governance Code, Composition of the Board of Directors and

Remuneration

As indicated in the Report on Corporate Governance and Ownership Structure, until the end of the 2020 financial year, Moncler adopted the Code of Self-governance for listed companies approved in July 2018 by the Corporate Governance Committee. Moncler then adopted the Corporate Governance Code which became applicable on 1 January 2021.

The Board of Statutory Auditors has assessed the way in which the Corporate Governance Code, promoted by Borsa Italiana (Corporate Governance Code of Self-Governance until 31 December 2020) and adopted by Moncler in the terms illustrated in the Report on Corporate Governance and Ownership Structure was implemented, and has no observations to make in this regard. The Board of Statutory Auditors has noted that the Board of Directors has assessed the function, size and composition of the Board and of its board Committees in accordance with Article 4 of the Code of