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

Ferrari N.V. has been actively engaged in a share buyback program, with the recent purchase of common shares totaling around Euro 9 million.

Rhea-AI Summary

Ferrari N.V. has been actively engaged in a share buyback program, with the recent purchase of common shares totaling around Euro 9 million. This is part of a larger program aiming to buy back approximately Euro 2 billion worth of shares by 2026. The company has already purchased over 3 million of its own common shares since the initiation of the program in 2022. As of April 29, 2024, Ferrari holds around 5.40% of its total issued share capital in treasury.

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Maranello (Italy),  April 30 2024 – 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   (€)
22/04/2024	EXM	3,955	383.0612	1,515,007.05
23/04/2024	EXM	3,825	390.8463	1,494,987.10
24/04/2024	EXM	3,792	394.5558	1,496,155.59
25/04/2024	EXM	3,922	389.1743	1,526,341.60
26/04/2024	EXM	3,873	390.2185	1,511,316.25
29/04/2024	EXM	3,786	392.6326	1,486,507.02
Total	-	23,153	390.0278	9,030,314.61

(*) translated at the European Central Bank EUR/USD exchange reference rate as of the date of each purchase

Since the announcement of such Fourth Tranche till April 29, 2024, the total invested consideration has been:

• Euro 187,894,758.95 for No. 539,743 common shares purchased on the EXM
• USD 54,391,165.62 (Euro 49,994,518.23*) for No. 140,501 common shares purchased on the NYSE.

As of April 29, 2024, the Company held in treasury No. 13,873,821 common shares equal to 5.40% 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 April 29, 2024, the Company has purchased a total of 3,049,717 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 810,633,803.31.

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 30 April 2024 ENG

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much has Ferrari spent on the buyback program?

Ferrari has spent approximately Euro 810.6 million on the buyback program.

What is the total number of common shares purchased by Ferrari under the program?

Ferrari has purchased a total of 3,049,717 common shares under the buyback program.

Where can details of Ferrari's buyback program transactions be found?

Details of Ferrari's buyback program transactions can be found on the corporate website under the Buyback Programs section.