Moncler — Investor Presentation 2015

Nov 9, 2015

9M 2015 Financial Results

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This presentation might contain certain forward-looking statements that reflect the Company's management's current viewswith respec^t to future events and financial and operational performance of the Company and its subsidiaries. These forwardlooking statements are based on Moncler S.p.A.'s current expectations and projections about future events. Because theseforward-looking statements are subject to risks and uncertainties, actual future results or performance may differ materiallyfrom those expressed in or implied by these statements due to any number of different factors, many of which are beyond theability of Moncler S.p.A. to control or estimate. You are cautioned not to ^place undue reliance on the forward-lookingstatements contained herein, which are made only as of the date of this presentation. Moncler S.p.A. does not undertake anyobligation to publicly release any updates or revisions to any forward-looking statements to reflect events or circumstancesafter the date of this presentation.

Any reference to pas^t performance or trends or activities of the Moncler Group shall not be taken as ^a representation orindication that such performance, trends or activities will continuein the future.

This presentation does not constitute an offer to sell or the solicitation of an offer to buy Moncler's securities, nor shall thedocument form the basis of or be relied on in connection with any contract or investment decision relating thereto, orconstitute ^a recommendation regarding the securities of Moncler.

Moncler's securities referred to in this document have not been and will not be registered under the U.S. Securities Act of ¹⁹³³ and may not be offered or sold in the United States absent registration or an applicable exemption from registrationrequirements.

Luciano Santel, the Manager in charge of preparing the corporate accounting documents, declares that, pursuan^t to art. 154 bis, paragraph 2, of the Legislative Decree no. 58 of February 24, 1998, the accounting information contained hereincorrespond to document results, books and accounting records.

GAMME ROUGESPRING/SUMMER 2016

5

• • Consolidated Revenues: Eur 561.5m, +25% YoY growth reported (+17% at constant exchange rates)1
• • International markets: Eur 454.1m, 81% of total revenues (77% in 9M 2014) 2
• • Retail Revenues: Eur 334.2m, 60% of total revenues (49% in 9M 2014) 3
• • Comparable Store Sales Growth: ⁺13%4
• • EBITDA Adjusted(**): Eur 174.5m with a margin on sales of 31.1% (30.3% in 9M 2014) 5
• • EBIT Adjusted(**): Eur 147.6m, with a margin on sales of 26.3% (26.0% in 9M 2014) 6
• • Net Income: Eur 92.7m with a margin on sales of 16.5% (15.7% in 9M 2014) 7
• • Net Debt: Eur 152.9m vs. Eur 111.2m as of December 2014 and vs. Eur 217.8m as of September 20148

(*) This applies to all pages: rounded figures and unaudited data(**) Before non-recurring items

Revenues by Region

• • Solid double-digit growth achieved in the period1
• • International markets now account for 81% of total sales (vs. 77% in 9M 2014)2
• • Americas achieved solid results in both channels3
• • Asia continued to show double-digit growth, despite macro uncertainties4
• • Europe confirmed its robust trend, driven by France and the UK. Positive results in Italy5

Revenues by Distribution Channel

1

• • Strong retail performance driven by both solid organic growth and newly opened stores
• • Retail channel now accounts for 60% of consolidated revenues (vs. 49% in 9M 2014)2
• • Comparable DOS sales (Comp-Store Sales) rose 13% in the first nine months3
• • Wholesale, excluding the conversion of the Korean business, increased 5% at reported currencies4

Monobrand Stores Network

	3 0 / 0 9 / 2 0 1 4	3 / 2 / 2 0 1 1 1 4	3 0 / 0 9 / 2 0 5 1
l R i t e a	1 2 7	1 3 4	1 6 6
l I t a y	1 9	1 9	1 9
( l. l ) E M E A I t e c a x y	4 9	5 1	5 3
A R W i & s a o	4 7	5 0	7 8
A i m e r c a s	1 2	1 4	1 6
h l l W o e s a e	3 6	3 8	3 3
O A T T L	6 3 1	2 1 7	9 9 1

• • At end of Sept, the retail network consisted of 166 monobrand stores1
• • 32 retail stores were opened in 9M 2015, including:2
• 20 new retail stores, of which 13 in Q3 (including Berlin, Macau, Singapore, Boston)
• • 12 Korean stores converted from wholesale to retail
• • 7 further openings expected in Q4, including the flagship in Tokyo Ginza (opened in October)3

BOSTON

BERLIN

SINGAPORE ION

Consolidated Income Statement

	9 M 2 0 1 5		9 M 2 0 1 4		F Y 2 0 1 4
	E r m u	%	E r m u	%	E r m u	%
R e v e n u e s	6 5 1. 5	1 0 0. 0 %	9. 3 4 4	1 0 0. 0 %	6 9 2 4.	1 0 0. 0 %
Yo Y g h t ro w	% 2 5 +		% 1 6 +		% 2 0 +
C f l t o s o s a e s	( ) 1 5 5. 3	( ) 2 7. 7 %	( ) 1 3 4. 8	( ) 3 0. 0 %	( ) 1 9 2. 5	( ) 2 7. 7 %
G i r o s s m a r g n	0 6. 2 4	7 2. 3 %	3 1 4. 5	7 0. 0 %	0 5 1. 7	7 2. 3 %
S l l i e n g e x p e n s e s	( 1 6 2. 2 )	( % ) 2 8. 9	( 1 1 4 ) 7.	( % ) 2 6. 2	( 1 8 3. 0 )	( % ) 2 6. 4
G l & A d i i i t t e n e r a m n s r a v e e x p e n s e s	( 6. 8 ) 5	( 1 0. 1 % )	( 4 6. 8 )	( 1 0. 4 % )	( 6 6. 0 )	( 9. % ) 5
A d i i & P i t t v e r s n g r o m o o n	( 3 9. 6 )	( 0 % ) 7.	( 3 3. 3 )	( 4 % ) 7.	( 4 6. 1 )	( 6. 6 % )
E B I T A D J	1 4 7. 6	2 6. 3 %	1 1 7. 0	2 6. 0 %	2 0 6. 6	2 9. 8 %
* N i i t o n- r e c u r r n g e m s	( ) 7. 9	( 1. 4 % )	( ) 3. 1	( 0. 7 % )	( ) 5. 0	( 0. 7 % )
E B I T	3 9. 1 7	2 9 % 4.	3. 9 1 1	2 3 % 5.	2 0 6 1.	2 9. 0 %
** N f i i l l t t e n a n c a r e s u	( ) 2. 1	( ) 0. 4 %	( ) 5. 2	( ) 1. 1 %	( ) 6. 1	( ) 0. 9 %
E B T	3 1 7. 7	2 4. 5 %	0 8. 1 7	2 4. 2 %	9 1 5. 5	2 8. 2 %
T a x e s	( 4 0 ) 5.	( % ) 8. 0	( 3 8. 4 )	( % ) 8. 5	( 6 4 ) 5.	( % ) 9. 4
Ta Ra te x	% 3 2. 7		% 3 5. 3		% 3 3. 4
C l i d d N I t t o n s o a e e n c o m e	9 2. 7	1 6. 5 %	0. 3 7	1 5. 7 %	3 0. 1 1	1 8. 7 %
M i i l t t n o r y r e s u	0. 0	% 0. 0	0. 2	% 0. 0	0. 2	% 0. 0
N I t e n c o m e	9 2. 7	1 6. 5 %	7 0. 5	1 5. 7 %	1 3 0. 3	1 8. 8 %
Yo Y g h t ro w	% 3 1 +		% 8 2 +		% 7 1 +
E B I T D A A D J	1 7 4. 5	3 % 1. 1	3 6. 1 1	3 0. 3 %	2 3 2. 9	3 3. % 5
Yo Y g h t ro w	2 8 % +		1 9 % +		2 1 % +

(*) Non-recurring items include non-cash costs related to the stock option plans and a revised valuation of the "Other Brands Division" sale

(**) Net Financial Result includes FX Gain/(Losses): Eur 2.0m in 9M 2015, Eur 3.2m in 9M 2014, Eur 5.8m in FY 2014

Consolidated Capex (*)

(*) Capex figures are net of assets' disposal

Consolidated Net Working Capital

	3 0 / 0 9 / 2 0 1 5	3 / 2 / 2 0 1 1 1 4	3 0 / 0 9 / 2 0 1 4
	E u r m	E u r m	E u r m
I i b l A t t n a n g e s s e s	4 1 6. 8	4 1 4. 4	4 1 4. 8
T i b l A t a n g e s s e s	9 0. 4	7 7. 3	7 3. 5
O / ( ) h N A L i b i l i i t t t t e r o n- c u r r e n s s e s a e s	1 5. 8	( ) 1 4. 7	( ) 1 4. 0
T l N A t t t o a o n- c u r r e n s s e s	5 2 3. 0	4 7 7. 0	4 7 4. 3
N W k i C i l t t e o r n g a p a	1 4 2 7.	9 1 7.	1 1 9. 7
O C / ( ) h A L i b i l i i t t t t e r u r r e n s s e s a e s	( ) 3 1. 7	( ) 3 4. 1	( ) 9. 5
C T l A t t t o a u r r e n s s e s	1 1 5. 5	6 3. 0	1 1 0. 2
I d C i l t t n v e s e a p a	6 3 8. 5	0. 0 5 4	8 5 4. 5
N D b t t e e	1 5 2. 9	1 1 1. 2	2 1 7. 8
O P i d h P i i t e n s o n a n e r r o v s o n s	8. 5	8. 2	8. 5
S h h l d ' E i t r r a e o e s q u y	4 1 7 7.	4 2 0. 6	3 8. 2 5
S T l t o a o u r c e s	6 3 8. 5	5 4 0. 0	5 8 4. 5

Consolidated Cash Flow Statement

	9 M 2 0 1 5	9 M 2 0 1 4	F Y 2 0 1 4
	E u r m	E u r m	E u r m
E B I T D A A d j d t u s e	1 7 4. 5	1 3 6. 1	2 3 2. 9
C h i N W k i C i l t t a n g e n e o r n g a p a	( 0. 1 ) 5	( 2. 8 ) 7	( 0. 2 ) 5
C / / ( ) h i h l i b i l i i t t t a n g e n o e r c u r r. n o n- c u r r. a s s e s a e s	( ) 3 2. 7	0. 3	2 5. 1
C t a p e n e x,	( 3 9. 0 )	( 3 9. 4 )	( 4 9. ) 5
O C i h F l t p e r a n g a s o w	5 2. 7	2 4. 2	1 5 8. 3
N f i i l l t t e n a n c a r e s u	( ) 2. 1	( ) 5. 2	( ) 6. 1
T a e s x	( 4 0 ) 5.	( 3 8. 4 )	( 6 4 ) 5.
C F h F l r e e a s o w	5. 6	( ) 1 9. 4	8 6. 8
D i i d d i d e n s p a v	( 3 0. 4 )	( 2 8. 6 )	( 2 8. 6 )
C h i i d h h t t a n g e s n e q a n o e r c a n g e s u y	( 1 6. 9 )	1. 3	1. 7
N h F l t e c a s o w	( ) 4 1. 7	( 6. ) 4 7	9. 9 5
f N F i i l P i i B i i P i d t t e n a n c a o s o n e g n n n g o e r o -	1 1 1. 2	1 7 1. 1	1 7 1. 1
N F i i l P i i E d f P i d t t e n a n c a o s o n n o e r o -	1 2. 9 5	2 1 8 7.	1 1 1. 2
C h i N F i i l P i i t t a n g e n e n a n c a o s o n	( ) 4 1. 7	( ) 4 6. 7	5 9. 9

	Q 1 2 0 1 5		Q 1 2 0 1 4		Gr Q Yo Y h % 2 2 0 1 5 t ow		Q Gr 2 2 0 1 4 Yo Y t ow		h %	Q 3 2 0 1 5		Q 3 2 0 1 4		Gr Yo Y h % t ow
	€m	%	€m	%	Re p.	F X ex	€m	%	€m	%	Re p.	F X ex	€m	%	€m	%	Re p.	F X ex
I ly ta	3 4. 9	% 1 7	3 2. 6	% 2 2	% 7 +	% 7 +	1 6. 6	% 1 8	1 4. 9	% 2 1	% 1 1 +	% 1 1 +	6. 0 5	% 2 1	6. 3 5	% 2 4	% -1	% -1
( ) E M E A l. I ly ta ex c	6 4. 6	3 2 %	5 3. 3	3 7 %	2 1 % +	1 9 % +	3 4. 3	3 6 %	2 9. 3	4 0 %	1 7 % +	1 5 % +	9 1. 1	3 4 %	8 1. 2	3 5 %	1 2 % +	1 1 % +
As ia & Ro W	3 7 5.	% 3 8	4 4 5.	% 3 1	% 6 6 +	% 4 8 +	2 4 7.	% 2 9	2 1. 3	% 2 9	% 2 9 +	% 1 0 +	6 7. 7	% 2 6	6 1. 1	% 2 7	% 1 1 +	% 2 +
Am ica er s	2 6. 2	1 3 %	1 4. 1	1 0 %	8 5 % +	6 1 % +	1 6. 5	1 7 %	7. 4	1 0 %	1 2 2 % +	8 3 % +	5 0. 9	1 9 %	3 2. 4	1 4 %	5 7 % +	3 3 % +
To l Re ta ve nu es	2 0 0 1.	0 0 % 1	1 4 5. 4	0 0 % 1	3 8 % +	3 0 % +	9 8 4.	0 0 % 1	2. 9 7	0 0 % 1	3 0 % +	2 0 % +	2 6 5. 7	0 0 % 1	2 3 0 1.	0 0 % 1	% 1 5 +	9 % +

	Q 1 2 0 1 5		Q 1 2 0 1 4		Gr % Yo Y h t ow		Q 2 2 0 1 5		Q 2 2 0 1 4		Gr % Yo Y h t ow		Q 3 2 0 1 5		Q 3 2 0 1 4		Gr % Yo Y h t ow
	€m	%	€m	%	Re p.	F X ex	€m	%	€m	%	Re p.	F X ex	€m	%	€m	%	Re p.	F X ex
Re i l ta	1 3 8. 1	% 6 9	8 1. 8	% 5 6	% 6 9 +	% 5 4 +	6 3. 2	% 6 7	4 0. 1	% 5 5	% 5 8 +	% 4 3 +	1 3 2. 8	% 5 0	9 7. 7	% 4 2	% 3 6 +	% 2 8 +
W ho les le a	6 2. 9	3 1 %	6 3. 6	4 4 %	-1 %	-2 %	3 1. 6	3 3 %	3 2. 8	4 % 5	-4 %	-9 %	1 3 2. 9	0 % 5	1 3 3. 3	8 % 5	0 %	% -5
To l Re ta ve nu es	2 0 0 1.	0 0 % 1	1 4 5. 4	0 0 % 1	3 8 % +	3 0 % +	9 8 4.	0 0 % 1	2. 9 7	0 0 % 1	3 0 % +	2 0 % +	2 6 5. 7	0 0 % 1	2 3 0 1.	0 0 % 1	% 1 5 +	9 % +

Quarterly Consolidated Income Statement

	Q 2 0 1 1 5	Q 2 0 1 1 4	Q 2 2 0 1 5	Q 2 2 0 1 4	Q 3 2 0 1 5	Q 3 2 0 1 4
	€ m	€ % m %	€ m %	€ m %	€ m %	€ m %
R e v e nu e s Yo Y g h t ro w	2 0 1. 0 1 0 0. 0 3 8 % +	1 4 5. 4 % % 1 0 0. 0 1 6 % +	9 4. 8 % 1 0 0. 0 3 0 % +	7 2. 9 % 1 0 0. 0 2 7 % +	2 6 5. 7 % 1 0 0. 0 1 5 % +	2 3 1. 0 % 1 0 0. 0 1 2 % +
C f l t o s o s a e s	( ) 5 2. 7 ( 26 .2 %	( ) 4 0. 2 ) ( 27 % ) .7	( ) 2 8. 1 ( 29 .6 % )	( ) 2 3. 1 ( 3 1.7 % )	( ) 7 4. 5 ( 28 .0 % )	( ) 7 1. 5 ( 3 1.0 % )
G i r o s s m a r g n	8. 3 1 4 7 3. 8	0 2 1 5. % 7 2. 3 %	6 6. 7 7 0. 4 %	9. 8 4 6 8. 3 %	9 2 1 1. 7 2. 0 %	9. 1 5 5 6 9. 0 %
S l l i e n g e p e n s e s x	( ) 5 7. 3 ( 28 .5 %	( ) 3 8. 6 ) ( 26 .5 % )	( ) 4 5. 1 ( 47 .6 % )	( ) 3 2. 9 ( 45 .2 % )	( ) 5 9. 8 ( 22 .5 % )	( ) 4 5. 9 ( 19. 9 % )
G l & A d i i iv t t e n e r a m n s r a e e x p e n s e s	( 1 8. 8 ) ( 9. 3 %	( 1 6. 4 ) ) ( 11. 3 % )	( 1 9. 1 ) ( 20 .2 % )	( 1 4. 8 ) ( 20 .3 % )	( 1 8. 8 ) ( 7.1 % )	( 1 ) 5. 5 ( 6.7 % )
A d i i & P i t t v e r s n g r o m o o n	( ) 1 4. 9 ( % 7.4	( ) 1 0. 5 ) ( % ) 7.2	( ) 6. 0 ( % ) 6. 3	( ) 6. 7 ( % ) 9. 1	( ) 1 8. 7 ( % ) 7.0	( ) 1 6. 1 ( % ) 6. 9
E B I T A D J	3 5 7. 2 8. 5	3 9. 7 % 27 3 %	( 3. ) 5 ( 3. 7 % )	( 6 ) 4. ( 6. 3 % )	9 3. 9 3 5. 3 %	8 2. 0 3 5. 5 %
N i i t o n- r e c r r n g e m s u	( 1. 4 ) ( 0.7 %	( 0. 6 ) ) ( 0. 4 % )	( 4. 4 ) ( 4.7 % )	( 1. 2 ) ( 1.6 % )	( 2. 1 ) ( 0. 8 % )	( 1. 4 ) ( 0. 6 % )
E B I T	5 5. 9 27 8	3 9. 1 % 2 6. 9 %	( ) 7. 9 ( 8. 4 % )	( ) 5. 8 ( 7. 9 % )	9 1. 8 3 4.5 %	8 0. 6 3 4. 9 %
f N i i l l t t e n a n c a r e s u	3. 8 1.9	( ) 3. 1 % ( % ) 2.1	( ) 0. 7 ( % ) 0.7	( ) 2. 0 ( % ) 2.8	( ) 5. 2 ( % ) 2.0	( ) 0. 1 ( % ) 0. 1
E B T	9. 5 7 2 9. 7	3 6. 0 % 24 8 %	( 8. 6 ) ( 9. % ) 1	( 8 ) 7. ( 0. % ) 1 7	8 6. 6 3 2. 6 %	8 0. 5 3 8 % 4.
T a e s x	( 2 0. 0 ) ( 10. 0 %	( 1 2. 6 ) ) ( 8.7 % )	3. 1 3. 2 %	2. 5 3. 4 %	( 2 8. 1 ) ( 10. 6 % )	( 2 8. 2 ) ( 12. 2 % )
C l i d d N I t t o n s o a e e n c o m e	3 9. 7 1 9. 8	2 3. 4 % 1 6. 1 %	( 5. 6 ) ( 5. 9 % )	( 5. 3 ) ( 7. 3 % )	5 8. 5 2 2. 0 %	5 2. 3 2 2. 6 %
M i i l ty t n o r r e s u	( ) 0. 1 ( % 0. 0	0. 1 ) % 0. 1	0. 0 % 0. 0	( ) 0. 1 ( % ) 0. 1	0. 1 % 0. 1	0. 1 % 0. 1
N I t e n c o m e	3 9. 6 9. 1 7	2 3. 5 % 6. % 1 1	( 6 ) 5. ( 9 % ) 5.	( ) 5. 4 ( % ) 7.4	8. 5 7 2 2.1 %	2. 5 4 2 2.7 %
E B I T D A A D J	6 5. 7 3 2.7	4 5. 0 % 3 1. 0 %	5. 2 5. 5 %	1. 4 1. 9 %	1 0 3. 5 3 9. 0 %	8 9. 7 3 8. 8 %
Yo Y g h t ro w	4 6 % +	1 5 % +	2 7 1 % +	d. n.	1 5 % +	1 4 % +

Shareholding Structure, Upcoming events, IR Contacts

Source: Consob, MonclerLast update: 9 November 2015 ²⁰¹⁵ Upcoming Events

•¹ December – Capital Markets Day

Investor Relations Teaminvestor.relations@moncler.com

•Paola Durante

Investor Relations and Strategic Planning Directorpaola.durante@moncler.com

• Anna Rita TrevisanInvestor Relations Associateannarita.trevisan@moncler.com