Ferrari N.v.: Completion of the Seventh Tranche of the Multi-Year Share Repurchase Program

Rhea-AI Summary

Ferrari (NYSE/EXM: RACE) has completed the seventh tranche of its multi-year share repurchase program by purchasing 666,666 common shares for €299,999,700 through an accelerated bookbuild offering by Exor N.V. on February 26, 2025.

This transaction is part of Ferrari's €2.0 billion buyback program announced during the 2022 Capital Market Day. As of March 6, 2025, Ferrari holds 15,785,877 treasury shares, representing 8.73% of total issued share capital. Since the program's inception on July 1, 2022, the company has acquired 4,963,113 common shares on EXM and NYSE for a total consideration of €1,622,735,677.17.

Positive

• €300M share buyback demonstrates strong cash position
• 81.1% completion of €2B buyback program shows commitment to shareholder returns
• 8.73% treasury shares provides flexibility for future corporate actions

Negative

• Large cash outflow for buyback reduces funds for operations/investments

News Market Reaction – RACE

+0.64%

+0.64% Session move

In the trading session that priced this news, RACE gained 0.64%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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Maranello (Italy), March 7, 2025 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) informs that, following the accelerated bookbuild offering made by Exor N.V. on February 26, 2025, the Company participated in the offering by purchasing No. 666,666 common shares for a total consideration of 299,999,700 Euro (the “Transaction”).

The Transaction constituted the seventh tranche (the “Seventh Tranche”) of the multi-year share buyback program of approximately Euro 2.0 billion announced during our 2022 Capital Market Day (the ”Program”) and it settled on March 3, 2025.

As of March 6, 2025, following the completion of the Seventh Tranche, the Company held in treasury No. 15,785,877 common shares equal to 8.73% 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.

From the start of the Program, on July 1, 2022, until March 6, 2025, the Company has purchased a total of 4,963,113 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 1,622,735,677.17.

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).

Attachment

• FNV - BuyBack PR March 7 2025 ENG Final

FAQ

How many shares did Ferrari (RACE) purchase in its seventh buyback tranche?

Ferrari purchased 666,666 common shares for €299,999,700 in its seventh buyback tranche.

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

Ferrari's current multi-year share buyback program announced at 2022 Capital Market Day is approximately €2.0 billion.

How many treasury shares does Ferrari (RACE) hold as of March 2025?

As of March 6, 2025, Ferrari holds 15,785,877 treasury shares, equal to 8.73% of total issued share capital.

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

Since July 1, 2022, Ferrari has spent €1,622,735,677.17 to purchase 4,963,113 common shares.