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

Rhea-AI Summary

Ferrari N.V. (NYSE/EXM: RACE) has announced an update on its Euro 250 million share buyback program, which is part of a larger Euro 2 billion multi-year buyback plan set to run until 2026. From September 23 to September 30, 2024, Ferrari purchased 46,419 common shares at an average price of 425.8770 euros, totaling 19,768,783.46 euros.

The company bought shares on both the Euronext Milan (EXM) and the New York Stock Exchange (NYSE). Since the announcement of this fifth tranche, Ferrari has invested 120,198,039.44 euros for 295,150 shares on EXM and 29,095,540.83 USD (26,200,615.14 euros) for 61,595 shares on NYSE.

As of September 30, 2024, Ferrari held 14,522,411 treasury shares, representing 5.65% of its total issued share capital. Since the program's inception on July 1, 2022, the company has purchased 3,698,307 shares for a total of 1,069,142,727.30 euros.

Maranello (Italy), October 1, 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) and on the New York Stock Exchange (NYSE) as follows:

	EXM			NYSE				Total
Trading	Number of common shares purchased	Average price per share	Consideration excluding fees	Number of common shares purchased	Average price per share	Consideration excluding fees	Consideration excluding fees	Number of common shares purchased	Average price per share	Consideration excluding fees
Date		excluding fees			excluding fees				excluding fees
(d/m/y)		(€)	(€)		($)	($)	(€)*		(€)*	(€)*
23/09/2024	4,500	428.3153	1,927,418.85	-	-	-	-	4,500	428.3153	1,927,418.85
24/09/2024	5,000	426.5925	2,132,962.50	3,778	476.4208	1,799,917.78	1,616,741.02	8,778	427.1706	3,749,703.52
25/09/2024	5,200	424.7944	2,208,930.88	5,290	472.5670	2,499,879.43	2,233,231.58	10,490	423.4664	4,442,162.46
26/09/2024	4,700	429.8842	2,020,455.74	3,545	479.5288	1,699,929.60	1,523,917.16	8,245	429.8815	3,544,372.90
27/09/2024	4,900	426.9069	2,091,843.81	3,806	472.9190	1,799,929.71	1,613,129.34	8,706	425.5655	3,704,973.15
30/09/2024	5,700	421.0794	2,400,152.58	-	-	-	-	5,700	421.0794	2,400,152.58
	30,000	426.0588	12,781,764.36	16,419	475.0385	7,799,656.52	6,987,019.10	46,419	425.8770	19,768,783.46
Total

(*) 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 September 30, 2024, the total invested consideration has been:

• Euro 120,198,039.44 for No. 295,150 common shares purchased on the EXM
• USD 29,095,540.83 (Euro 26,200,615.14 *) for No. 61,595 common shares purchased on the NYSE.

As of September 30, 2024, the Company held in treasury No. 14,522,411 common shares equal to 5.65% 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 September 30, 2024, the Company has purchased a total of 3,698,307 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 1,        069,142,727.30.

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 1 October 2024 ENG

FAQ

How many shares did Ferrari (RACE) buy back between September 23-30, 2024?

Ferrari (RACE) bought back 46,419 common shares between September 23-30, 2024.

What was the average price per share for Ferrari's (RACE) recent buyback?

The average price per share for Ferrari's (RACE) recent buyback was 425.8770 euros.

How much has Ferrari (RACE) spent on share buybacks since July 1, 2022?

Since July 1, 2022, Ferrari (RACE) has spent 1,069,142,727.30 euros on share buybacks.

What percentage of Ferrari's (RACE) total issued share capital is held in treasury as of September 30, 2024?

As of September 30, 2024, Ferrari (RACE) held 5.65% of its total issued share capital in treasury.

What is the total value of Ferrari's (RACE) multi-year share buyback program?

Ferrari's (RACE) multi-year share buyback program is valued at approximately 2 billion euros.