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. The current phase, the Fifth Tranche, involves a Euro 250 million share buyback announced on June 28, 2024. From July 22 to July 29, 2024, Ferrari purchased 49,500 common shares on the Euronext Milan (EXM) for a total of Euro 18,885,484.70.

Since the Fifth Tranche began, Ferrari has invested Euro 61,099,908.57 for 157,450 shares on EXM and USD 699,921.73 for 1,627 shares on NYSE. As of July 29, 2024, Ferrari held 14,324,743 treasury shares, representing 5.57% of its total issued share capital. The company has purchased 3,500,639 shares worth Euro 984,488,773.30 since the program's inception on July 1, 2022.

Maranello (Italy), July 30, 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 (€)
22/07/2024	EXM	7,700	385.8775	2,971,256.75
23/07/2024	EXM	7,300	388.7945	2,838,199.85
24/07/2024	EXM	8,500	382.4366	3,250,711.10
25/07/2024	EXM	9,000	375.8606	3,382,745.40
26/07/2024	EXM	8,500	378.7360	3,219,256.00
29/07/2024	EXM	8,500	379.2136	3,223,315.60
Total	-	49,500	381.5249	18,885,484.70

(*) 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 29, 2024, the total invested consideration has been:

• Euro 61,099,908.57 for No. 157,450 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 29, 2024, the Company held in treasury No. 14,324,743 common shares equal to 5.57% 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 29, 2024, the Company has purchased a total of 3,500,639 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 984,488,773.30.

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 30 July 2024 ENG

FAQ

How many shares did Ferrari (RACE) buy back between July 22 and July 29, 2024?

Ferrari (RACE) bought back 49,500 common shares on the Euronext Milan (EXM) between July 22 and July 29, 2024.

What was the total value of Ferrari's (RACE) share buybacks from July 22 to July 29, 2024?

The total value of Ferrari's (RACE) share buybacks from July 22 to July 29, 2024 was Euro 18,885,484.70.

How much has Ferrari (RACE) invested in the Fifth Tranche of its buyback program as of July 29, 2024?

As of July 29, 2024, Ferrari (RACE) has invested Euro 61,099,908.57 for shares on EXM and USD 699,921.73 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 July 29, 2024?

As of July 29, 2024, Ferrari (RACE) held 5.57% of its total issued share capital in treasury, equivalent to 14,324,743 common shares.

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

Since the program started on July 1, 2022, Ferrari (RACE) has spent Euro 984,488,773.30 on share buybacks, purchasing a total of 3,500,639 shares.