MONCLER ANNUAL REPORT AT 31 DECEMBER 2020ATTACHMENTS 209208

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Corporate Governance. The process of Board evaluation is described in the Report on Corporate Governance and Ownership Structure. The process and results of the self-assessment of the Board of Directors carried out for the 2020 financial year were presented, discussed and agreed by the Board of Directors with the assistance of the external advisor Morrow Sodali, at the Board meeting on 18 February 2021 which was attended by the Board of Statutory Auditors. The Board of Statutory Auditors verified the correct application of the criteria and procedure used by the Board of Directors to evaluate the independence of the directors qualified as independent . Likewise it verified the existence of the criteria for its own independence, and sent the results to the Board of Directors. On 26 January 2021 the Board of Statutory Auditors performed a self-assessment of its composition and functioning, and discussed and agreed the overall results. On the same day, the Board of Statutory Auditors again gave a positive assessment for each member following the process of self-assessment of the criteria for exercising the position of statutory auditor, which had already been verified immediately after the positions were accepted on 11 July 2020. Through the participation of the Chairman and/or a delegate auditor at all the meetings of the Nomination and Remuneration Committee and the Control, Risks and Sustainability Committee, the Board of Statutory Auditors has verified the corporate procedures that led to the definition of the Company s remuneration policies, with particular reference to the criteria for the remuneration and bonuses of the heads of the Control Functions, and of the Officer Responsible for the Preparation of the Company s Financial Statements .

7. Omissions or reprehensible facts, opinions rendered and initiatives taken

During the year, the Board did not receive any complaints or reports of irregularities pursuant to Article 2408 of the civil code. During the year the Board gave opinions in accordance with the requirements of the Corporate Governance Code of Self-governance (criteria 7.C.1. and 7.C.2.) in relation to the following activities within the remit of the Board of Directors, having positively verified compliance with the requirements for the operation or activity in question: approval of the audit plan prepared by the Head of Internal Audit; determination of the variable remuneration for the Head of Internal Audit, in line with company policies ; A positive opinion was also given in relation to the determination of the remuneration of a director with specific duties (Article 2389 paragraph 3 civil code), and the cohesion of this proposal with the Company s remuneration policy was also verified. Finally, on 18 February 2021, with regard to the approval of the Audit Plan for 2021, the Board expressed a favourable opinion and recommended a review of the resources given to the Internal Audit Function upon completion of the Stone Island acquisition, taking into account the fact that Stone Island

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does not have its own internal audit function. During the course of the activities performed, and on the basis of the information obtained, no omissions, reprehensible events, irregularities or any other significant circumstances have emerged that would require a mention in this report.

***** Referring to all the considerations made in this Report, the Board of Statutory Auditors, taking into account the specific duties of the External Auditing Firm with regard to the control of accounting and verification of the reliability of the financial statements, has no observations to make to the Shareholders Meeting pursuant to Article 153 TUF regarding approval of the Financial Statements for the year ended 31 December 2020, accompanied by the Board of Directors Report, or on the proposed allocation of profits for the year and the distribution of dividends as made by the Board.

Rome, 12 March 2021

Board of Statutory Auditors

Riccardo Losi, Chairman

Carolyn Dittmeier

Nadia Fontana