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

Rhea-AI Summary

Ferrari N.V. announces the purchase of common shares under a multi-year share buyback program, totaling Euro 136,852,792.23 and USD 38,493,941.02. As of March 8, 2024, the company holds 13,771,548 common shares in treasury, representing 5.36% of the total issued share capital. Since the start of the program in July 2022, Ferrari has bought back 2,847,090 own common shares for a total consideration of Euro 731,408,174.47.

Maranello (Italy), March 11, 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) 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)		(€)	(€)		($)	($)	(€)*		(€)*	(€)*
04/03/2024	3,971	380.6999	1,511,759.30	6,039	413.8854	2,499,453.93	2,304,493.76	10,010	381.2441	3,816,253.06
05/03/2024	3,903	379.7996	1,482,357.84	4,132	411.3267	1,699,601.92	1,566,597.77	8,035	379.4593	3,048,955.61
06/03/2024	3,901	379.4956	1,480,412.34	-	-	-	-	3,901	379.4956	1,480,412.34
07/03/2024	3,934	383.8826	1,510,194.15	-	-	-	-	3,934	383.8826	1,510,194.15
08/03/2024	3,882	387.5127	1,504,324.30	-	-	-	-	3,882	387.5127	1,504,324.30
	19,591	382.2698	7,489,047.93	10,171	412.8459	4,199,055.85	3,871,091.53	29,762	381.6995	11,360,139.46
Total

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

Since the announcement of such Fourth Tranche till March 8, 2024, the total invested consideration has been:

• Euro 136,852,792.23 for No. 409,430 common shares purchased on the EXM
• USD 38,493,941.02 (Euro 35,358,621.09*) for No. 103,376 common shares purchased on the NYSE.

As of March 8, 2024, the Company held in treasury No. 13,771,548 common shares equal to 5.36% 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 March 8, 2024, the Company has purchased a total of 2,847,090 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 731,408,174.47.

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 11 March 2024 ENG

FAQ

How much has Ferrari spent on common shares under the share buyback program?

Ferrari has spent Euro 136,852,792.23 and USD 38,493,941.02 on common shares under the program.

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

Ferrari's treasury shares represent 5.36% of the total issued share capital as of March 8, 2024.

How many own common shares has Ferrari repurchased since July 2022?

Ferrari has repurchased a total of 2,847,090 own common shares since July 2022.