Moncler Group | Annual Report 2024 Separate Financial Statements 443 Moncler Group | Annual Report 2024 Separate Financial Statements 442

The changes related to the right of use assets arising from

the application of the IFRS 16 are reported here below:

4.4 Investments in subsidiaries

Investments in subsidiaries are detailed in the following table:

Financial information related to the subsidiaries

are detailed in the following table:

ACCUMULATED DEPRECIATION AND IMPAIRMENT PPE

EUR/000 Land and

buildings

Plant and

Equipment

Fixtures and

f ittings

Leasehold

improvements

Other f ixed

assets

Assets in

progress and

advances

TOTAL

1 January 2023(1,749)(114)(171)(45)(691)0(2,770)

Depreciation(928)(4)(21)(22)(197)0(1,172)

Disposals 788 0 0 0 139 0 927

Other movements,

including transfers

0 0 0 0 0 0 0

31 DECEMBER 2023(1,889)(118)(192)(67)(749)0(3,015)

RIGHT OF USE ASSETS

EUR/000 Land and buildings Other f ixed assets TOTAL

1 January 2024 4,150 243 4,393

Acquisitions 39 237 276

Disposals(3,192)(36)(3,228)

Depreciation(784)(218)(1,002)

31 DECEMBER 2024 213 226 439

INVESTMENTS IN SUBSIDIARIES% ownership Carrying amount

EUR/000 Country 31 December 2024 31 December 2023 31 December 2024 31 December 2023

Industries S.p.A.Italy 100%100%403,370 377,045

Sportswear Company S.p.A.Italy 100%100%596,642 593,742

TOTAL 1,000,012 970,787

SUMMARY OF SUBSIDIARY’S

FINANCIAL INFORMATION

31 December 2024

EUR/000 Assets Liabilities Net equity Revenues Prof it/(Loss)

Industries SpA2375611 836959 1538652 1718529 443419

Sportswear Company SpA307512 123550 183962 317296 20442

TOTAL 2683123 960509 1722614 2035825 463861

SUMMARY OF SUBSIDIARYS

FINANCIAL INFORMATION

31 December 2023

EUR000 Assets Liabilities Net equity Revenues Prof itLoss

Industries SpA2268256 835075 1433181 1629954 305894

Sportswear Company SpA354634 91957 262677 393839 47156

TOTAL 2622890 927032 1695858 2023793 353050

The carrying amounts of the investments in Industries S.p.A.

and Sportswear Company S.p.A. also include the greater value

recognised upon their acquisition (2008 and 2021), allocated

to the goodwill associated with the Moncler and the Stone Island

businesses, respectively.

At the reporting date, management found that there were

no risks of impairment of the amounts recognised, based

on the performance of the Moncler and Stone Island businesses

and expectations of the development plans. These considerations

are also supported by the impairment tests carried out

on the Moncler and Stone Island business cash generating units

described in the Moncler Group's Consolidated Financial

Statements. The increase in the value of the investment was due

to the accounting treatment of the stock option and performance

share plans adopted by the Company and described in section 8.2.

Furthermore, the market capitalisation of the Company,

based on the average price of Moncler share in 2024,

shows a positive dif ference with respect to the net equity, indirectly

conf irming the value of the goodwill.

Please refer to the Consolidated Financial Statements

for a complete list of the Group companies directly and indirectly

controlled by the Company.

4.5 Deferred tax assets and deferred tax liabilities

Deferred tax assets and deferred tax liabilities are of fset

only

when there is a law within a given tax jurisdiction which

p

rovides for such right to of fset. The balances were as follows

as at 31 December 2024 and 31 December 2023:

DEFERRED TAXATION

EUR/000 31 December 2024 31 December 2023

Deferred tax assets 4,126 1,859

Deferred tax liabilities (93,959)(49,437)

NET AMOUNT(89,833)(47,578)