FERRARI N.V.: PERIODIC REPORT ON THE BUYBACK PROGRAM

Rhea-AI Summary

Ferrari (NYSE:RACE) has provided an update on its ongoing share buyback program. Under the €360 million eighth tranche announced on July 31, 2025, the company purchased 65,675 common shares between September 8-12, 2025, for a total consideration of €26.79 million at an average price of €407.95 per share.

Since the eighth tranche began, Ferrari has invested €60.41 million for 146,970 shares on EXM and $20.46 million for 42,456 shares on NYSE. As of September 12, 2025, Ferrari holds 15,895,401 treasury shares, representing 8.20% of total issued common shares. The buyback is part of Ferrari's €2 billion multi-year program announced during the 2022 Capital Markets Day, which has reached total purchases of €1.72 billion.

Positive

• Strong execution of €2 billion buyback program with €1.72 billion completed to date
• Significant return of capital to shareholders through systematic share repurchases
• Company maintains strong cash position enabling continued buyback execution

Negative

• Treasury shares reaching 8.20% of total issued common shares, indicating significant share count reduction
• High average purchase price of €407.95 per share may indicate elevated valuation

Maranello (Italy), September 15, 2025 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) informs that the Company has purchased, under the Euro 360 million share buyback program announced on July 31, 2025, as the eighth 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 “Eighth 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)		(€)	(€)		($)	($)	(€)*		(€)*	(€)*
08/09/2025	11,000	411.9035	4,530,938.50	-	-	-	-	11,000	411.9035	4,530,938.50
09/09/2025	10,000	407.3674	4,073,674.00	9,383	479.5611	4,499,721.80	3,831,506.98	19,383	407.8409	7,905,180.98
10/09/2025	9,200	409.1238	3,763,938.96	8,422	474.3665	3,995,114.66	3,412,586.20	17,622	407.2481	7,176,525.16
11/09/2025	8,670	406.4014	3,523,500.14	-	-	-	-	8,670	406.4014	3,523,500.14
12/09/2025	9,000	406.2020	3,655,818.00	-	-	-	-	9,000	406.2020	3,655,818.00
	47,870	408.3532	19,547,869.60	17,805	477.1040	8,494,836.46	7,244,093.18	65,675	407.9477	26,791,962.78
Total

(*) translated at the European Central Bank EUR/USD exchange reference rate as of the date of each purchase
        
Since the announcement of such Eighth Tranche till September 12, 2025, the total invested consideration has been:

• Euro 60,408,471.24 for No. 146,970 common shares purchased on the EXM
• USD 20,459,185.55 (Euro 17,506,910.54*) for No. 42,456 common shares purchased on the NYSE.

As of September 12, 2025, the Company held in treasury No. 15,895,401 common shares, net of shares assigned under the Company’s equity incentive plan, corresponding to 8.20% of the total issued common shares. Including the special voting shares, the Company held in treasury 8.78% of the total issued share capital.
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 12, 2025, the Company has purchased a total of 5,200,446 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 1,720,485,079.13.

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 15 September 2025 ENG

FAQ

How much has Ferrari (RACE) spent on its current share buyback program?

Ferrari has spent €1.72 billion of its €2 billion multi-year share buyback program announced during the 2022 Capital Markets Day, purchasing 5,200,446 common shares on EXM and NYSE through September 12, 2025.

What is the size of Ferrari's current buyback tranche announced in July 2025?

The current eighth tranche of Ferrari's buyback program amounts to €360 million, announced on July 31, 2025, as part of the larger €2 billion multi-year program.

How many treasury shares does Ferrari (RACE) currently hold?

As of September 12, 2025, Ferrari holds 15,895,401 treasury shares, representing 8.20% of total issued common shares, or 8.78% including special voting shares.

What was the average price Ferrari paid for shares in its latest buyback report?

Between September 8-12, 2025, Ferrari paid an average price of €407.95 per share, purchasing 65,675 common shares for a total consideration of €26.79 million.

When is Ferrari's current buyback program expected to be completed?

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