Ferrari N.V.: Periodic Report on the Buyback Program

Rhea-AI Summary

Ferrari N.V. continues its share buyback program, purchasing over 20,000 common shares on the Euronext Milan stock exchange. The company has invested over Euro 114 million in shares since the announcement of the program. Ferrari now holds over 13 million common shares in treasury, equal to 5.33% of the total issued share capital.

Maranello (Italy),  February 19, 2024 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) informs that the Company has purchased, under the Euro 350 million share buyback program announced on November 7, 2023, as the fourth tranche of the multi-year share buyback program of approximately Euro 2 billion expected to be executed by 2026 in line with the disclosure made during the 2022 Capital Markets Day (the “Fourth Tranche”), the additional common shares - reported in aggregate form, on a daily basis - on the Euronext Milan (EXM) as follows:

Trading Date (dd/mm/yyyy)	Stock Exchange	Number of common shares purchased	Average price per share excluding fees (€)	Consideration excluding fees   (€)
12/02/2024	EXM	4,155	362.2143	1,505,000.42
13/02/2024	EXM	4,255	355.4214	1,512,318.06
14/02/2024	EXM	4,246	355.0780	1,507,661.19
15/02/2024	EXM	4,126	360.3292	1,486,718.28
16/02/2024	EXM	4,106	363.9405	1,494,339.69
Total	-	20,888	359.3469	7,506,037.63

(*) translated at the European Central Bank EUR/USD exchange reference rate as of the date of each purchase

Since the announcement of such Fourth Tranche till February 16, 2024, the total invested consideration has been:

• Euro 114,450,375.28 for No. 350,571 common shares purchased on the EXM
• USD 30,295,782.71 (Euro 27,798,654.09*) for No. 83,738 common shares purchased on the NYSE.

As of February 16, 2024, the Company held in treasury No. 13,693,051 common shares equal to 5.33% of the total issued share capital including the common shares and the special voting shares, net of shares assigned under the Company’s equity incentive plan.
Since the start of the multi-year share buyback program of approximately Euro 2 billion announced during the 2022 Capital Markets Day, on July 1, 2022, until February 16, 2024, the Company has purchased a total of 2,768,593 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 701,445,790.52.

A comprehensive overview of the transactions carried out under the buyback program, as well as the details of the above transactions, are available on Ferrari’s corporate website under the Buyback Programs section (https://www.ferrari.com/en-EN/corporate/buyback-programs).

Attachment

• FNV BB PR 19 February 2024 ENG

FAQ

How many common shares did Ferrari purchase under the buyback program?

Ferrari purchased a total of 20,888 common shares under the buyback program.

What is the total invested consideration by Ferrari for the common shares purchased on the Euronext Milan stock exchange?

The total invested consideration by Ferrari for the common shares purchased on the Euronext Milan stock exchange is Euro 114,450,375.28.

How many common shares does Ferrari hold in treasury as of February 16, 2024?

As of February 16, 2024, Ferrari holds 13,693,051 common shares in treasury.

What percentage of the total issued share capital does Ferrari's treasury shares represent?

Ferrari's treasury shares represent 5.33% of the total issued share capital.

Where can detailed information about Ferrari's buyback programs be found?

Detailed information about Ferrari's buyback programs can be found on Ferrari's corporate website under the Buyback Programs section.