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 repurchase plan announced on June 28, 2024.

From August 23 to August 30, 2024, Ferrari bought back 33,616 common shares at an average price of €437.4443 per share, totaling €14,705,128.16. These purchases were made on both the Euronext Milan (EXM) and New York Stock Exchange (NYSE). Since the Fifth Tranche began, Ferrari has invested €73,651,128.73 for 186,150 shares on EXM and approximately €9,117,101 for 6,543 shares on NYSE.

As of August 30, 2024, Ferrari held 14,358,359 treasury shares, representing 5.59% of its total issued share capital. Since the multi-year buyback program's inception on July 1, 2022, Ferrari has repurchased 3,534,255 shares for a total of €999,193,901.46.

aranello (Italy), September 2, 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)		(€)	(€)		($)	($)	(€)*		(€)*	(€)*
23/08/2024	4,900	432.3368	2,118,450.32	-	-	-	-	4,900	432.3368	2,118,450.32
26/08/2024	5,000	431.9164	2,159,582.00	-	-	-	-	5,000	431.9164	2,159,582.00
27/08/2024	4,900	433.1704	2,122,534.96	2,448	490.0928	1,199,747.17	1,074,849.65	7,348	435.1367	3,197,384.61
28/08/2024	4,700	438.9988	2,063,294.36	2,468	486.0572	1,199,589.17	1,079,058.35	7,168	438.3863	3,142,352.71
29/08/2024	4,600	441.7712	2,032,147.52	-	-	-	-	4,600	441.7712	2,032,147.52
30/08/2024	4,600	446.7850	2,055,211.00	-	-	-	-	4,600	446.7850	2,055,211.00
	28,700	437.3247	12,551,220.16	4,916	488.0668	2,399,336.34	2,153,908.00	33,616	437.4443	14,705,128.16
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 August 30, 2024, the total invested consideration has been:

• Euro 73,651,128.73 for No. 186,150 common shares purchased on the EXM
• USD$1(Euro$101*) for No. 6,543 common shares purchased on the NYSE.

As of August 30, 2024, the Company held in treasury No. 14,358,359 common shares equal to 5.59% 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 August 30, 2024, the Company has purchased a total of 3,534,255 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 999,193,901.46.

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).

Attachment

• FNV BB PR 2 September 2024 ENG

FAQ

How many shares did Ferrari (RACE) buy back between August 23 and August 30, 2024?

Ferrari (RACE) bought back 33,616 common shares between August 23 and August 30, 2024.

What was the average price per share for Ferrari's (RACE) buyback from August 23 to August 30, 2024?

The average price per share for Ferrari's (RACE) buyback from August 23 to August 30, 2024 was €437.4443.

How much has Ferrari (RACE) invested in the Fifth Tranche of its buyback program as of August 30, 2024?

As of August 30, 2024, Ferrari (RACE) has invested €73,651,128.73 for shares on EXM and approximately €9,117,101 for shares on NYSE in the Fifth Tranche of its buyback program.

What percentage of Ferrari's (RACE) total issued share capital was held in treasury as of August 30, 2024?

As of August 30, 2024, Ferrari (RACE) held 5.59% of its total issued share capital in treasury shares.

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

Since July 1, 2022, Ferrari (RACE) has spent €999,193,901.46 on share buybacks, purchasing a total of 3,534,255 shares.