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. From September 2 to September 9, 2024, the company purchased a total of 41,198 common shares at an average price of €435.6410, for a total consideration of €17,947,536.96. These purchases were made on both the Euronext Milan (EXM) and New York Stock Exchange (NYSE).

This is part of the €250 million share buyback program announced on June 28, 2024, which is the fifth tranche of a larger multi-year buyback program of approximately €2 billion expected to be executed by 2026. Since the announcement of this fifth tranche, Ferrari has invested a total of €94,397,365.70 for 233,891 common shares.

As of September 9, 2024, Ferrari held 14,399,557 treasury shares, representing 5.60% of its total issued share capital. Since the start of the multi-year program in July 2022, the company has purchased 3,575,453 common shares for a total of €1,017,141,438.41.

Maranello (Italy), September 10, 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)		(€)	(€)		($)	($)	(€)*		(€)*	(€)*
02/09/2024	4,600	445.6153	2,049,830.38	-	-	-	-	4,600	445.6153	2,049,830.38
03/09/2024	4,500	447.8750	2,015,437.50	2,049	487.8168	999,536.62	905,787.61	6,549	446.0567	2,921,225.11
04/09/2024	4,700	438.4323	2,060,631.81	3,084	486.3047	1,499,763.69	1,357,252.21	7,784	439.0910	3,417,884.02
05/09/2024	5,000	431.8014	2,159,007.00	4,194	476.8310	1,999,829.21	1,802,135.00	9,194	430.8399	3,961,142.00
06/09/2024	5,000	430.2781	2,151,390.50	2,971	471.1957	1,399,922.42	1,260,850.60	7,971	428.0819	3,412,241.10
09/09/2024	5,100	428.4734	2,185,214.34	-	-	-	-	5,100	428.4734	2,185,214.34
	28,900	436.7305	12,621,511.53	12,298	479.6757	5,899,051.96	5,326,025.43	41,198	435.6410	17,947,536.96
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 9, 2024, the total invested consideration has been:

• Euro 86,272,640.26 for No. 215,050 common shares purchased on the EXM
• USD 8,998,310.03 (Euro 8,124,725.44 *) for No. 18,841 common shares purchased on the NYSE.

As of September 9, 2024, the Company held in treasury No. 14,399,557 common shares equal to 5.60% 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 9, 2024, the Company has purchased a total of 3,575,453 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 1,        017,141,438.41.

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 10 September 2024 ENG

FAQ

How many shares did Ferrari (RACE) buy back between September 2-9, 2024?

Ferrari (RACE) bought back 41,198 common shares between September 2-9, 2024.

What was the average price per share for Ferrari's (RACE) recent buyback?

The average price per share for Ferrari's (RACE) recent buyback was €435.6410.

How much has Ferrari (RACE) spent on share buybacks since June 28, 2024?

Ferrari (RACE) has spent €94,397,365.70 on share buybacks since June 28, 2024, when the fifth tranche of its buyback program was announced.

What percentage of Ferrari's (RACE) total issued share capital is held in treasury as of September 9, 2024?

As of September 9, 2024, Ferrari (RACE) held 5.60% of its total issued share capital in treasury.

How much has Ferrari (RACE) spent on its multi-year share buyback program since July 2022?

Since July 2022, Ferrari (RACE) has spent €1,017,141,438.41 on its multi-year share buyback program.