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

Rhea-AI Summary

Ferrari N.V. (NYSE/EXM: RACE) has completed significant share buybacks under its €250 million program announced on June 28, 2024. This represents the fifth tranche of a larger €2 billion multi-year buyback program expected to run through 2026. Between November 4-6, 2024, Ferrari purchased 68,148 common shares on Euronext Milan for €28,173,908.18.

As of November 8, 2024, the total invested amount reached €199,999,033.02 for 484,498 shares on EXM and $45,452,667.64 for 97,673 shares on NYSE. The company now holds 14,746,497 treasury shares, representing 5.74% of total issued share capital. Since the program's inception in July 2022, Ferrari has purchased 3,923,733 shares for a total of €1,163,747,468.36.

Maranello (Italy), November 11, 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 (€)
04/11/2024	EXM	3,700	441.6726	1,634,188.62
05/11/2024	EXM	55,000	412.1632	22,668,976.00
06/11/2024	EXM	9,448	409.6892	3,870,743.56
Total	-	68,148	413.4224	28,173,908.18

(*) 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 8, 2024, the total invested consideration has been:

• Euro 199,999,033.02 for No. 484,498 common shares purchased on the EXM (equal to the full amount of the Fifth Tranche to be executed on EXM as announced on June 28, 2024)
• USD 45,452,667.64 (Euro 41,004,362.64*) for No. 97,673 common shares purchased on the NYSE.

As of November 8, 2024, the Company held in treasury No. 14,746,497 common shares equal to 5.74% 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 8, 2024, the Company has purchased a total of 3,923,733 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 1,163,747,468.36.

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 November 2024 ENG

FAQ

How many shares did Ferrari (RACE) buy back between November 4-6, 2024?

Ferrari purchased 68,148 common shares on Euronext Milan between November 4-6, 2024, at an average price of €413.422 per share.

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

The current share buyback program announced on June 28, 2024, is valued at €250 million and represents the fifth tranche of a larger €2 billion multi-year program.

How many treasury shares does Ferrari (RACE) hold as of November 8, 2024?

As of November 8, 2024, Ferrari held 14,746,497 treasury shares, representing 5.74% of the total issued share capital.

What is the total amount Ferrari (RACE) has spent on buybacks since July 2022?

Since July 2022, Ferrari has spent €1,163,747,468.36 to purchase 3,923,733 common shares on EXM and NYSE.