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

Rhea-AI Summary

Ferrari N.V. (NYSE/EXM: RACE) has provided an update on its share buyback program. Under the €250 million fifth tranche announced on June 28, 2024, Ferrari purchased 17,800 common shares on EXM between October 21-25, 2024, at an average price of €445.9434, totaling €7,937,793.27.

Since the fifth tranche announcement, Ferrari has invested €163,653,199.63 for 398,050 shares on EXM and USD 45,452,667.64 for 97,673 shares on NYSE. As of October 25, 2024, Ferrari held 14,661,389 treasury shares, representing 5.71% of total issued share capital.

This is part of Ferrari's larger €2 billion multi-year buyback program announced during the 2022 Capital Markets Day, under which the company has purchased 3,837,285 shares for €1,127,401,634.97 since July 1, 2022.

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Maranello (Italy), October 28, 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 (€)
21/10/2024	EXM	3,500	443.8089	1,553,331.15
22/10/2024	EXM	3,400	442.4936	1,504,478.24
23/10/2024	EXM	3,700	444.4588	1,644,497.56
24/10/2024	EXM	3,600	449.2991	1,617,476.76
25/10/2024	EXM	3,600	449.4471	1,618,009.56
Total	-	17,800	445.9434	7,937,793.27

(*) 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 October 25, 2024, the total invested consideration has been:

• Euro 163,653,199.63 for No. 398,050 common shares purchased on the EXM
• USD 45,452,667.64 (Euro 41,004,362.64*) for No. 97,673 common shares purchased on the NYSE.

As of October 25, 2024, the Company held in treasury No. 14,661,389 common shares equal to 5.71% 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 October 25, 2024, the Company has purchased a total of 3,837,285 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 1,127,401,634.97.

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 28 October 2024 ENG

FAQ

How many shares did Ferrari (RACE) purchase between October 21-25, 2024?

Ferrari purchased 17,800 common shares on the Euronext Milan (EXM) between October 21-25, 2024, at an average price of €445.9434 per share.

What is the total value of Ferrari's (RACE) current share buyback program announced in June 2024?

The current fifth tranche of Ferrari's buyback program, announced on June 28, 2024, is valued at €250 million.

How many treasury shares does Ferrari (RACE) hold as of October 25, 2024?

As of October 25, 2024, Ferrari held 14,661,389 treasury shares, representing 5.71% of the total issued share capital.

What is the total value of Ferrari's (RACE) multi-year buyback program announced in 2022?

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