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 September 16 to September 20, 2024, Ferrari purchased a total of 42,089 common shares at an average price of Euro 418.8299, for a total consideration of Euro 17,628,132.33. These purchases were made on both the Euronext Milan (EXM) and the New York Stock Exchange (NYSE).

As of September 20, 2024, Ferrari held 14,475,992 common shares in treasury, representing 5.63% of the total issued share capital. Since the start of the multi-year buyback program on July 1, 2022, the company has purchased a total of 3,651,888 common shares for a total consideration of Euro 1,049,375,202.35.

Maranello (Italy), September 23, 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)		(€)	(€)		($)	($)	(€)*		(€)*	(€)*
16/09/2024	5,700	421.4406	2,402,211.42	3,880	463.8439	1,799,714.33	1,617,575.35	9,580	419.6020	4,019,786.77
17/09/2024	5,600	420.9878	2,357,531.68	2,585	464.1307	1,199,777.86	1,078,355.08	8,185	419.7785	3,435,886.76
18/09/2024	6,600	415.0296	2,739,195.36	3,476	460.2462	1,599,815.79	1,438,165.94	10,076	414.5853	4,177,361.30
19/09/2024	5,250	419.5837	2,202,814.43	-	-	-	-	5,250	419.5837	2,202,814.43
20/09/2024	5,600	421.3459	2,359,537.04	3,398	470.8076	1,599,804.22	1,432,746.04	8,998	421.4584	3,792,283.08
	28,750	419.5231	12,061,289.93	13,339	464.7359	6,199,112.21	5,566,842.40	42,089	418.8299	17,628,132.33
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 20, 2024, the total invested consideration has been:

• Euro 107,416,275.08 for No. 265,150 common shares purchased on the EXM
• USD 21,295,884.30 (Euro 19,214,854.56 *) for No. 45,176 common shares purchased on the NYSE.

As of September 20, 2024, the Company held in treasury No. 14,475,992 common shares equal to 5.63% 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 20, 2024, the Company has purchased a total of 3,651,888 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 1,        049,375,202.35.

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

How many shares did Ferrari (RACE) buy back between September 16-20, 2024?

Ferrari (RACE) bought back 42,089 common shares between September 16-20, 2024.

What was the average price per share for Ferrari's (RACE) buyback from September 16-20, 2024?

The average price per share for Ferrari's (RACE) buyback from September 16-20, 2024 was Euro 418.8299.

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

Ferrari (RACE) has spent Euro 1,049,375,202.35 on share buybacks since July 1, 2022.

What percentage of Ferrari's (RACE) total issued share capital is held in treasury as of September 20, 2024?

As of September 20, 2024, Ferrari (RACE) held 5.63% of its total issued share capital in treasury.

What is the total value of the current share buyback program announced by Ferrari (RACE) on June 28, 2024?

The current share buyback program announced by Ferrari (RACE) on June 28, 2024, is valued at Euro 250 million.