Ferrari N.v.: Periodic Report on the Buyback Program

Rhea-AI Summary

Ferrari N.V. (NYSE/EXM: RACE) has reported the purchase of additional common shares under the Euro 350 million share buyback program. As of November 24, 2023, the Company held in treasury No. 13,324,899 common shares equal to 5.19% of the total issued share capital. Since the start of the multi-year share buyback program, the Company has purchased a total of 2,400,441 own common shares on EXM and NYSE, for a total consideration of Euro 580,724,046.83.

Maranello (Italy), November 27, 2023 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) informs that the Company has purchased, under the Euro 350 million share buyback program announced on November 7, 2023, as the fourth 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 “Fourth 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 (€)
17-Nov-23	EXM	4,888	328.9841	1,608,074.28
20-Nov-23	EXM	4,916	330.7183	1,625,811.16
21-Nov-23	EXM	4,923	331.1810	1,630,404.06
22-Nov-23	EXM	4,865	334.0838	1,625,317.69
23-Nov-23	EXM	4,865	333.3947	1,621,965.22
24-Nov-23	EXM	4,980	334.5616	1,666,116.77
Total	-	29,437	332.1564	9,777,689.18

Since the announcement of such Fourth Tranche till November 24, 2023, the total invested consideration has been:

• Euro 21,527,285.68 for No. 66,157 common shares purchased on the EXM
  
  

As of November 24, 2023, the Company held in treasury No. 13,324,899 common shares equal to 5.19% 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 November 24, 2023, the Company has purchased a total of 2,400,441 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 580,724,046.83.

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 27 November 2023 ENG

FAQ

How many common shares did Ferrari purchase under the share buyback program?

Ferrari purchased a total of 2,400,441 own common shares on EXM and NYSE since the start of the multi-year share buyback program.

What is the total consideration for the shares purchased under the buyback program?

The total consideration for the shares purchased under the buyback program is Euro 580,724,046.83.

Where can I find details of the buyback program transactions?

Details of the buyback program transactions are available on Ferrari's corporate website under the Buyback Programs section.

How many common shares does Ferrari hold in treasury as of November 24, 2023?

As of November 24, 2023, Ferrari held in treasury No. 13,324,899 common shares equal to 5.19% of the total issued share capital.