MONCLER ANNUAL REPORT AT 31 DECEMBER 2020BOARD OF DIRECTORS REPORT 6564

SIGNIFICANT EVENTS OCCURRED DURING THE FINANCIAL YEAR 2020 COVID-19 PANDEMIC

At the end of 2019, the novel coronavirus Covid-19 was first reported in Wuhan, the capital of Hubei province in China. In February 2020, the virus infected more than 105 million people worldwide and caused around 2.3 million fatalities. In order to contain the pandemic and protect the population, several governments imposed stringent containment and social distancing measures, including the temporary closure of all non-essential activities, which have impacted various areas of Moncler s business.

Since the initial news regarding the spread of Covid-19, the Company promptly appointed an internal Task Force dedi- cated to the management of this emergency, and immediately implement ed important actions and clear procedures aimed at safeguarding the health of its employees and protecting the business.

This situation has generated significant impacts on the financial results of 2020, both in terms of revenues and margins, as already commented in this document.

MONCLER KOREA

On 31 March 2020, Moncler acquired a 39.01% stake in the Korean subsidiary Moncler Shinsegae Inc. from its Korean partner (Shinsegae International Inc.) for a net cash outlay of 15.7 million euros. As a result of this acquisition, Moncler now controls 90.01% of Moncler Shinsegae Inc.

DIVIDENDS

On 11 June 2020, the Annual Shareholders Meeting approved the Moncler S.p.A. Financial Statements as of 31 December 2019 and resolved to carry forward the profit for the year as proposed with the resolution of 22 April 2020 by the Board of Directors, taking into consideration the change in the global economic scenario and the evolution of the regulatory framework after the board meeting of 10 February 2020.

2020 PERFORMANCE SHARES PLAN

On 11 June 2020, the Ordinary Shareholders Meeting has approved, pursuant to art. 114-bis of the Consolidated Law on Finance, the adoption of a Stock Grant Plan denominated 2020

Performance Shares Plan addressed to Executive Directors and/or Key Managers, and/or employees and/or collaborators, therein including Moncler s external consultants and of its subsidiaries.

The information document related to the Plan prepared pursuant to Article 84-bis and Appendix 3A of the Issuers Regulation no. 11971/1999 is available on the Company s website www.monclergroup.com, in the Governance/Share- holders Meeting Section.

The Extraordinary Shareholders Meeting has also approved to delegate the Board of Directors, pursuant to Article 2443 of the Italian Civil Code, for a period of five years from the date of the resolution, with the power to increase the share capital free of charge in tranches, pursuant to Article 2349 of the Italian Civil Code, for an amount not exceeding 400,000 euros by issuing not more than 2,000,000 ordinary shares at a value equal to the par value of the Moncler shares on the date of the execution of the capital increase, to be assigned to the employees of Moncler and of its subsidiaries which are beneficiaries of the 2020 Performance Shares Plan .

The Board of Directors held at the end of the Ordinary and Extraordinary Shareholders Meeting resolved to implement the Stock Grant Plan and, consequently, approved the plan s implementation regulation and resolved the granting of 1,350,000 shares to 106 beneficiaries, including also Executive Directors and Key Managers of the Group.

NEW EXCLUSIVE LICENSE AGREEMENT WITH INTERPARFUMS SA

On 11 June 2020, the Board of Directors of Moncler approved the management s proposal to sign a worldwide exclusive license agreement with Interparfums SA, the renowned French company of prestige perfumes and cosmetics, for the creation, production and distribution of perfumes and fragrance- related products. Under this agreement, Interparfums SA will create and produce perfumes and fragrance-related products and will distribute them in Moncler mono-brand stores as well as selected department stores, specialty stores and duty-free shops. The agreement will last until 31 December 2026, with a potential 5-year extension and the launch of the first fragrance line is expected within the first quarter of 2022.

RELATED-PARTY TRANSACTIONS Information relating to related party transactions are provided in Note 10.1 to the Consolidated Financial Statements and Note 8.1 to the Separate Financial Statements.

ATYPICAL AND/OR UNUSUAL TRANSACTIONS There are no positions or transactions deriving from atypical and/or unusual transactions that could have a significant impact on the results and financial position of the Group and the Parent Company.

TREASURY SHARES Moncler owns 5,585,803 Company shares at 18 February 2021, equal to 2.2% of the current share capital.