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

Rhea-AI Summary

Ferrari N.V. (NYSE/EXM: RACE) has reported on its ongoing share buyback program, which is part of a larger Euro 2 billion multi-year initiative announced during the 2022 Capital Markets Day. The current phase, known as the Fifth Tranche, involves a Euro 250 million share buyback announced on June 28, 2024.

From October 14 to October 18, 2024, Ferrari purchased 17,600 common shares on the Euronext Milan (EXM) at an average price of €437.7275 per share, totaling €7,704,003.72. Since the Fifth Tranche began, Ferrari has invested €155,715,406.35 for 380,250 shares on EXM and $45,452,667.64 for 97,673 shares on NYSE.

As of October 18, 2024, Ferrari held 14,643,589 treasury shares, representing 5.70% of its total issued share capital. Since July 1, 2022, the company has purchased 3,819,485 shares for a total of €1,119,463,841.70 across both EXM and NYSE.

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Maranello (Italy), October 21, 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 (€)
14/10/2024	EXM	3,700	434.1416	1,606,323.92
15/10/2024	EXM	3,600	437.9289	1,576,544.04
16/10/2024	EXM	3,800	433.2162	1,646,221.56
17/10/2024	EXM	3,200	440.3447	1,409,103.04
18/10/2024	EXM	3,300	444.1852	1,465,811.16
Total	-	17,600	437.7275	7,704,003.72

(*) 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 October 18, 2024, the total invested consideration has been:

• Euro 155,715,406.35        for No. 380,250 common shares purchased on the EXM
• USD 45,452,667.64 (Euro 41,004,362.64*) for No. 97,673 common shares purchased on the NYSE.

As of October 18, 2024, the Company held in treasury No. 14,643,589 common shares equal to 5.70% 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 October 18, 2024, the Company has purchased a total of 3,819,485 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 1,119,463,841.70.

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 21 October 2024 ENG

FAQ

How many shares did Ferrari (RACE) buy back between October 14-18, 2024?

Ferrari (RACE) bought back 17,600 common shares on the Euronext Milan (EXM) between October 14-18, 2024.

What was the average price per share for Ferrari's (RACE) buyback from October 14-18, 2024?

The average price per share for Ferrari's (RACE) buyback from October 14-18, 2024 was €437.7275.

How much has Ferrari (RACE) invested in the Fifth Tranche of its buyback program as of October 18, 2024?

As of October 18, 2024, Ferrari (RACE) has invested €155,715,406.35 for 380,250 shares on EXM and $45,452,667.64 for 97,673 shares on NYSE in the Fifth Tranche of its buyback program.

What percentage of Ferrari's (RACE) total issued share capital was held in treasury as of October 18, 2024?

As of October 18, 2024, Ferrari (RACE) held 5.70% of its total issued share capital in treasury, equivalent to 14,643,589 common shares.

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

Since July 1, 2022, Ferrari (RACE) has spent €1,119,463,841.70 on share buybacks, purchasing a total of 3,819,485 own common shares on EXM and NYSE.