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 set to run until 2026. This current phase, announced on June 28, 2024, is the fifth tranche with a value of Euro 250 million.

From October 7 to October 11, 2024, Ferrari purchased 32,654 common shares at an average price of Euro 412.1392, totaling Euro 13,457,994.09. These purchases were made on both the Euronext Milan (EXM) and New York Stock Exchange (NYSE).

Since the start of the fifth tranche, Ferrari has invested Euro 148,011,402.63 for 362,650 shares on EXM and the equivalent of Euro 141,004,362.64 for 97,673 shares on NYSE. As of October 11, 2024, Ferrari held 14,625,989 treasury shares, representing 5.69% of its total issued share capital.

Maranello (Italy), October 14, 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) 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)		(€)	(€)		($)	($)	(€)*		(€)*	(€)*
07/10/2024	10,500	408.4895	4,289,139.75	4,454	449.0142	1,999,909.25	1,821,079.26	14,954	408.6010	6,110,219.01
08/10/2024	5,000	411.6291	2,058,145.50	-	-	-	-	5,000	411.6291	2,058,145.50
09/10/2024	4,000	418.0341	1,672,136.40	-	-	-	-	4,000	418.0341	1,672,136.40
10/10/2024	5,000	414.6475	2,073,237.50	-	-	-	-	5,000	414.6475	2,073,237.50
11/10/2024	3,700	417.3664	1,544,255.68	-	-	-	-	3,700	417.3664	1,544,255.68
	28,200	412.6566	11,636,914.83	4,454	449.0142	1,999,909.25	1,821,079.26	32,654	412.1392	13,457,994.09
Total

(*) 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 11, 2024, the total invested consideration has been:

• Euro 148,011,402.63   for No. 362,650 common shares purchased on the EXM
• USD$1$1(Euro$141,004,362.64*) for No. 97,673 common shares purchased on the NYSE.

As of October 11, 2024, the Company held in treasury No. 14,625,989 common shares equal to 5.69% 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 11, 2024, the Company has purchased a total of 3,801,885 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 1,111,759,837.98.

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 BB PR 14 October 2024 ENG

FAQ

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

Ferrari's (RACE) current share buyback program is the fifth tranche of a larger Euro 2 billion multi-year initiative, with this specific tranche valued at Euro 250 million.

How many shares did Ferrari (RACE) purchase between October 7-11, 2024?

Ferrari (RACE) purchased 32,654 common shares between October 7-11, 2024, at an average price of Euro 412.1392 per share.

What percentage of Ferrari's (RACE) total issued share capital is held in treasury as of October 11, 2024?

As of October 11, 2024, Ferrari (RACE) held 14,625,989 common shares in treasury, equal to 5.69% of its total issued share capital.

How much has Ferrari (RACE) invested in share buybacks since the start of the fifth tranche?

Since the start of the fifth tranche, Ferrari (RACE) has invested Euro 148,011,402.63 for shares on EXM and the equivalent of Euro 141,004,362.64 for shares on NYSE.

When is Ferrari's (RACE) multi-year share buyback program expected to end?

Ferrari's (RACE) multi-year share buyback program of approximately Euro 2 billion is expected to be executed by 2026, as disclosed during the 2022 Capital Markets Day.