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

Rhea-AI Summary

Ferrari N.V. announces the purchase of common shares under a Euro 350 million buyback program, part of a larger program totaling Euro 2 billion by 2026. The company bought shares on Euronext Milan and NYSE, totaling Euro 163,798,675.39 and USD 54,391,165.62. As of April 5, 2024, Ferrari held 13,835,338 common shares in treasury, representing 5.38% of the total issued share capital. Since July 1, 2022, Ferrari has repurchased 2,987,859 own common shares for Euro 786,537,719.76.

Maranello (Italy), April 8, 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)		(€)	(€)		($)	($)	(€)*		(€)*	(€)*
02/04/2024	3,824	398.8495	1,525,200.49	-	-	-	-	3,824	398.8495	1,525,200.49
03/04/2024	3,928	385.3645	1,513,711.76	-	-	-	-	3,928	385.3645	1,513,711.76
04/04/2024	3,917	385.4223	1,509,699.15	5,938	420.9621	2,499,672.95	2,303,421.44	9,855	386.9224	3,813,120.59
05/04/2024	3,916	384.8764	1,507,175.98	6,443	419.0244	2,699,774.21	2,490,336.88	10,359	385.8976	3,997,512.86
	15,585	388.5651	6,055,787.38	12,381	419.9537	5,199,447.16	4,793,758.32	27,966	387.9549	10,849,545.70
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 April 5, 2024, the total invested consideration has been:

• Euro 163,798,675.39 for No. 477,885 common shares purchased on the EXM
• USD 54,391,165.62 (Euro 49,994,518.23*) for No. 140,501 common shares purchased on the NYSE.

As of April 5, 2024, the Company held in treasury No. 13,835,338 common shares equal to 5.38% 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 April 5, 2024, the Company has purchased a total of 2,987,859 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 786,537,719.76.

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 8 April 2024 ENG

FAQ

How much has Ferrari invested in common shares under the buyback program?

Ferrari has invested Euro 163,798,675.39 and USD 54,391,165.62 (Euro 49,994,518.23*) in common shares under the buyback program.

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

Ferrari's treasury shares amount to 5.38% of the total issued share capital as of April 5, 2024.

How many common shares has Ferrari repurchased since July 1, 2022?

Since July 1, 2022, Ferrari has repurchased a total of 2,987,859 own common shares under the buyback program.

Where can detailed information about Ferrari's buyback programs be found?

Detailed information about Ferrari's buyback programs, including transaction details, can be found on Ferrari's corporate website under the Buyback Programs section.