FERRARI N.V.: PERIODIC REPORT ON THE BUYBACK PROGRAM

Rhea-AI Summary

Ferrari N.V. (NYSE/EXM: RACE) has reported its latest share buyback activities under the €250 million program announced on June 28, 2024. This represents the fifth tranche of their €2 billion multi-year buyback program expected to run through 2026. From October 28 to November 1, 2024, Ferrari purchased 18,300 common shares on the Euronext Milan (EXM) at an average price of €446.5533, totaling €8,171,925.21.

As of November 1, 2024, the total invested consideration since the fifth tranche announcement includes €171,825,124.84 for 416,350 shares on EXM and $45,452,667.64 for 97,673 shares on NYSE. The company now holds 14,678,349 treasury shares, representing 5.71% of total issued share capital.

Maranello (Italy), November 4, 2024 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) informs that the Company has purchased, under the Euro 250 million share buyback program announced on June 28, 2024, as the fifth 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 “Fifth 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 (€)
28/10/2024	EXM	3,600	452.7015	1,629,725.40
29/10/2024	EXM	3,600	452.9684	1,630,686.24
30/10/2024	EXM	3,700	445.1321	1,646,988.77
31/10/2024	EXM	3,700	440.1004	1,628,371.48
01/11/2024	EXM	3,700	442.2036	1,636,153.32
Total	-	18,300	446.5533	8,171,925.21

(*) translated at the European Central Bank EUR/USD exchange reference rate as of the date of each purchase
        
Since the announcement of such Fifth Tranche till November 1, 2024, the total invested consideration has been:

• Euro 171,825,124.84 for No. 416,350 common shares purchased on the EXM
• USD 45,452,667.64 (Euro 41,004,362.64*) for No. 97,673 common shares purchased on the NYSE.

As of November 1, 2024, the Company held in treasury No. 14,678,349 common shares equal to 5.71% 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 November 1, 2024, the Company has purchased a total of 3,855,585 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 1,135,573,560.18.

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).

For further information:
Media Relations
tel.: +39 0536 949337
Email: media@ferrari.com

Attachment

• FNV BB PR 4 November 2024 ENG

FAQ

How many shares did Ferrari (RACE) buy back between October 28-November 1, 2024?

Ferrari purchased 18,300 common shares on the Euronext Milan (EXM) during this period.

What is the total value of Ferrari's (RACE) current share buyback program announced in June 2024?

The current share buyback program (fifth tranche) is valued at €250 million, part of a larger €2 billion multi-year program running through 2026.

What percentage of treasury shares does Ferrari (RACE) hold as of November 1, 2024?

Ferrari holds 14,678,349 treasury shares, equivalent to 5.71% of the total issued share capital.

How much has Ferrari (RACE) invested in share buybacks since the fifth tranche announcement?

Ferrari has invested €171,825,124.84 for EXM purchases and $45,452,667.64 for NYSE purchases since the fifth tranche announcement.