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, part of a larger Euro 2 billion multi-year initiative announced during the 2022 Capital Markets Day. From July 15-19, 2024, Ferrari purchased 36,950 common shares on the Euronext Milan (EXM) for a total of Euro 14,403,960.96, with an average price per share of Euro 389.8230.

Since the announcement of the Fifth Tranche, Ferrari has invested Euro 42,214,423.87 for 107,950 shares on EXM and USD 699,921.73 for 1,627 shares on NYSE. As of July 19, 2024, Ferrari held 14,275,243 treasury shares, representing 5.55% of its total issued share capital. The company has purchased a total of 3,451,139 shares worth Euro 965,603,288.60 since the program's inception on July 1, 2022.

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Maranello (Italy), July 22, 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 (€)
15/07/2024	EXM	7,000	397.9224	2,785,456.80
16/07/2024	EXM	7,300	390.2112	2,848,541.76
17/07/2024	EXM	7,650	387.3960	2,963,579.40
18/07/2024	EXM	7,500	388.4716	2,913,537.00
19/07/2024	EXM	7,500	385.7128	2,892,846.00
Total	-	36,950	389.8230	14,403,960.96

(*) 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 July 19, 2024, the total invested consideration has been:

• Euro 42,214,423.87 for No. 107,950 common shares purchased on the EXM
• USD 699,921.73 (Euro 644,792.02*) for No. 1,627 common shares purchased on the NYSE.

As of July 19, 2024, the Company held in treasury No. 14,275,243 common shares equal to 5.55% 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 July 19, 2024, the Company has purchased a total of 3,451,139 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 965,603,288.60.

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 22 July 2024 ENG

FAQ

How many shares did Ferrari (RACE) buy back between July 15-19, 2024?

Ferrari (RACE) bought back 36,950 common shares on the Euronext Milan (EXM) between July 15-19, 2024.

What was the total amount spent by Ferrari (RACE) on share buybacks from July 15-19, 2024?

Ferrari (RACE) spent a total of Euro 14,403,960.96 on share buybacks from July 15-19, 2024.

What is the average price per share Ferrari (RACE) paid in its recent buyback?

The average price per share Ferrari (RACE) paid in its recent buyback from July 15-19, 2024 was Euro 389.8230.

How many treasury shares does Ferrari (RACE) hold as of July 19, 2024?

As of July 19, 2024, Ferrari (RACE) held 14,275,243 treasury shares, equal to 5.55% of its total issued share capital.

What is the total value of shares Ferrari (RACE) has bought back since July 1, 2022?

Since July 1, 2022, Ferrari (RACE) has bought back shares worth a total of Euro 965,603,288.60.