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

Rhea-AI Summary

Ferrari N.V. announces the purchase of additional common shares under a Euro 350 million share buyback program. The Company has bought 20,099 common shares for approximately Euro 7.4 million on the Euronext Milan. Since the start of the program in 2022, Ferrari has purchased a total of 2,788,692 own common shares on EXM and NYSE, totaling Euro 708.9 million.

Maranello (Italy),  February 26, 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   (€)
19/02/2024	EXM	4,108	360.7820	1,482,092.46
20/02/2024	EXM	4,069	361.0157	1,468,972.88
21/02/2024	EXM	4,098	366.5229	1,502,010.84
22/02/2024	EXM	3,946	376.9490	1,487,440.75
23/02/2024	EXM	3,878	383.9126	1,488,813.06
Total	-	20,099	369.6368	7,429,330.00

(*) 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 23, 2024, the total invested consideration has been:

• Euro 121,879,705.28 for No. 370,670 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 23, 2024, the Company held in treasury No. 13,713,150 common shares equal to 5.34% 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 23, 2024, the Company has purchased a total of 2,788,692 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 708,875,120.52.

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 26 February 2024 ENG

FAQ

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

Ferrari purchased 20,099 common shares under the share buyback program.

What is the total consideration for the common shares purchased on the Euronext Milan?

The total consideration for the common shares purchased on the Euronext Milan is approximately Euro 7.4 million.

How many own common shares has Ferrari purchased since the start of the program?

Ferrari has purchased a total of 2,788,692 own common shares since the start of the program.

Where can more details about the buyback program transactions be found?

More details about the buyback program transactions can be found on Ferrari's corporate website under the Buyback Programs section.