FERRARI ANNOUNCES VOTING RESULTS FROM ITS ANNUAL GENERAL MEETING

Rhea-AI Summary

Ferrari (NYSE/EXM: RACE) held its Annual General Meeting (AGM) in Amsterdam on April 16, 2025, where shareholders approved all proposed resolutions. Key decisions include:

- Approval of 2024 Annual Accounts and Remuneration Report
- Declaration of €2.986 cash dividend per common share (total ~€534 million)
- Ex-dividend dates: April 22 (EXM) and April 23 (NYSE)
- Payment date: May 6, 2025

The AGM appointed John Elkann and Benedetto Vigna as executive directors, along with ten non-executive directors. Shareholders renewed the Board's authority to:
- Issue common shares
- Grant subscription rights
- Repurchase up to 10% of common shares
- Limit/exclude pre-emptive rights

Deloitte Accountants B.V. was re-appointed as independent auditor for 2025.

Positive

• Substantial dividend payment of €534 million approved
• Board authorization renewed for share buyback program up to 10% of shares
• All proposed resolutions passed successfully at AGM

Negative

• None.

Maranello (Italy), 16 April 2025 - Ferrari N.V. (“Ferrari” or the “Company”) (NYSE/EXM: RACE) announced today that all resolutions proposed to Shareholders at the Ferrari’s Annual General Meeting of Shareholders (the “AGM”) held today in Amsterdam, the Netherlands, were passed.

The Shareholders approved the 2024 Annual Accounts, expressed a positive advice with respect to the Remuneration Report 2024 and approved a dividend in cash¹ of Euro 2.986 per outstanding common share, totalling approximately Euro 534 million. The outstanding common shares will be quoted ex-dividend from April 22, 2025 on EXM and from April 23, 2025 on NYSE. The record date for the dividend will be April 23, 2025 on both EXM and NYSE and the dividend on the outstanding common shares will be paid on May 6, 2025. Shareholders holding the Company’s common shares on the record date that are traded on the NYSE will receive the dividend in U.S. dollars at the official European Central Bank EUR/USD exchange rate of April 17, 2025.

The AGM appointed all Ferrari directors standing for election. John Elkann and Benedetto Vigna were elected as executive directors of Ferrari. Piero Ferrari, Delphine Arnault, Francesca Bellettini, Eduardo H. Cue, Sergio Duca, John Galantic, Maria Patrizia Grieco, Adam Keswick, Michelangelo Volpi and Tommaso Ghidini were elected as non-executive directors of Ferrari.

The AGM renewed the existing delegations to the Board of Directors of the Company of the authority to issue common shares (for a period of 18 months from the date of the AGM), to grant rights to subscribe for common shares and to limit or exclude pre-emptive rights for common shares (for a period of 18 months from the date of the AGM), subject to certain maximum amount thresholds.

Furthermore, the AGM renewed, for a period of 18 months from the date of the AGM, the existing authorization of the Board of Directors to repurchase up to a maximum of 10% of the Company’s common shares issued as of the date of the AGM. Pursuant to the authorization, which does not entail any obligation for the Company but is designed to provide additional flexibility, the Board of Directors may repurchase common shares in compliance with applicable regulations, subject to certain maximum and minimum price thresholds.
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[1] The coupon number of the dividend is 10 (ten).
The Shareholders also re-appointed Deloitte Accountants B.V. as the Company’s independent auditor for the financial year 2025.

The Shareholders further approved the awards of (rights to subscribe for) common shares in the capital of the Company to the executive directors.

Details of the resolutions submitted to the AGM are available on the Company’s corporate website at https://www.ferrari.com/en-EN/corporate.

This press release contains forward-looking statements. These statements are based on the Group’s current expectations and projections about future events and, by their nature, are subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them. Actual results may differ materially from those expressed in such statements as a result of a variety of factors, including: volatility and deterioration of capital and financial markets, including possibility of new Eurozone sovereign debt crisis, changes in commodity prices, changes in general economic conditions, economic growth and other changes in business conditions, weather, floods, earthquakes or other natural disasters, changes in government regulation, production difficulties, including capacity and supply constraints and many other risks and uncertainties, including global economic conditions, macro events, pandemics and conflicts, including the ongoing conflict between Russia and Ukraine and the more recent hostilities between Israel and Hamas, most of which are outside of the Group’s control.

Attachment

• FNV AGM PR 16.4.2025 ENG

FAQ

What is the dividend amount per share announced by Ferrari (RACE) for 2024?

Ferrari announced a cash dividend of €2.986 per outstanding common share, totaling approximately €534 million.

When will Ferrari (RACE) pay its 2024 dividend to shareholders?

The dividend payment date is May 6, 2025, with ex-dividend dates of April 22, 2025 (EXM) and April 23, 2025 (NYSE).

What share buyback authorization was approved at Ferrari's 2025 AGM?

Shareholders authorized the Board to repurchase up to 10% of Ferrari's common shares over an 18-month period.

Who were appointed as Ferrari's executive directors at the 2025 AGM?

John Elkann and Benedetto Vigna were elected as executive directors of Ferrari.