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. The current tranche, announced on June 28, 2024, has a value of Euro 250 million. From September 10 to 13, 2024, Ferrari purchased:

- 21,350 shares on EXM at an average price of €425.4026
- 12,996 shares on NYSE at an average price of $469.2569

The total investment for this period was €14,605,631.61. Since the start of the fifth tranche, Ferrari has invested €95,354,985.16 on EXM and $15,096,772.10 on NYSE. As of September 13, 2024, Ferrari held 14,433,903 treasury shares, representing 5.62% of its total issued share capital.

Maranello (Italy), September 16, 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)		(€)	(€)		($)	($)	(€)*		(€)*	(€)*
10/09/2024	5,250	426.7475	2,240,424.38	4,294	465.7058	1,999,740.71	1,812,837.19	9,544	424.6921	4,053,261.57
11/09/2024	5,600	423.2465	2,370,180.40	3,184	470.9721	1,499,575.17	1,357,941.83	8,784	424.4219	3,728,122.23
12/09/2024	5,300	425.9956	2,257,776.68	2,756	471.5088	1,299,478.25	1,179,628.04	8,056	426.6888	3,437,404.72
13/09/2024	5,200	425.7622	2,213,963.44	2,762	470.5532	1,299,667.94	1,172,879.65	7,962	425.3759	3,386,843.09
	21,350	425.4026	9,082,344.90	12,996	469.2569	6,098,462.06	5,523,286.71	34,346	425.2499	14,605,631.61
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 September 13, 2024, the total invested consideration has been:

• Euro 95,354,985.16 for No. 236,400 common shares purchased on the EXM
• USD 15,096,772.10 (Euro 13,648,012.15 *) for No. 31,837 common shares purchased on the NYSE.

As of September 13, 2024, the Company held in treasury No. 14,433,903 common shares equal to 5.62% 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 September 13, 2024, the Company has purchased a total of 3,609,799 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 1,        031,747,070.02.

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

FAQ

What is the total value of Ferrari's (RACE) multi-year share buyback program announced in 2022?

Ferrari's multi-year share buyback program, announced during the 2022 Capital Markets Day, has a total value of approximately Euro 2 billion and is expected to be executed by 2026.

How many shares did Ferrari (RACE) purchase between September 10-13, 2024?

Between September 10-13, 2024, Ferrari purchased a total of 34,346 shares: 21,350 shares on the Euronext Milan (EXM) and 12,996 shares on the New York Stock Exchange (NYSE).

What was the average price per share for Ferrari's (RACE) purchases on EXM from September 10-13, 2024?

The average price per share for Ferrari's purchases on the Euronext Milan (EXM) from September 10-13, 2024, was €425.4026.

How many treasury shares did Ferrari (RACE) hold as of September 13, 2024?

As of September 13, 2024, Ferrari held 14,433,903 common shares in treasury, equal to 5.62% of the total issued share capital.

What is the total amount Ferrari (RACE) has invested in its buyback program since July 1, 2022?

Since the start of the multi-year share buyback program on July 1, 2022, until September 13, 2024, Ferrari has invested a total of Euro 1,031,747,070.02 in purchasing its own common shares on EXM and NYSE.