Ferrari N.v.: Report on the Share Buyback Related to Granting Share Process

Rhea-AI Summary

Ferrari (NYSE/EXM: RACE) has reported key developments in its share buyback program and employee share granting process. On March 13, 2025, the company assigned 113,466 treasury shares to employees and subsequently purchased 47,907 common shares at €414.0109 per share through a cross order transaction on EXM to cover tax obligations.

As of March 14, 2025, Ferrari holds 15,720,318 treasury shares, representing 8.71% of total issued share capital. Since launching its €2 billion multi-year buyback program on July 1, 2022, Ferrari has acquired 5,011,020 common shares across EXM and NYSE, with a total investment of €1,642,569,697.35.

Positive

• Significant progress in €2 billion buyback program with €1.64 billion already executed
• Strong treasury position with 8.71% of total issued share capital
• Continued execution of employee equity incentive plan showing strong compensation practices

Negative

• Substantial cash outflow of €1.64 billion for share buybacks reducing available capital for operations

News Market Reaction – RACE

+1.11%

+1.11% Session move

In the trading session that priced this news, RACE gained 1.11%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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Maranello (Italy), March 17, 2025 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) informs that on March 13, 2025, in the Ferrari Group employees’ granting share process, the Company assigned No. 113,466 common shares held in treasury. On the same day Ferrari purchased at the average price of Euro 414.0109 per share, in a “cross order” transaction executed on the EXM, No. 47,907 common shares sold by the assignees in order to cover their individual's taxable income as standard practice (Sell to Cover).

As of March 14, 2025, the Company held in treasury No. 15,720,318 common shares equal to 8.71% 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 March 14, 2025, the Company has purchased a total of 5,011,020 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 1,642,569,697.35.

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 17 March 2025 ENG Final

FAQ

How many shares did Ferrari (RACE) assign to employees in March 2025?

Ferrari assigned 113,466 treasury shares to employees on March 13, 2025.

What is the current progress of Ferrari's (RACE) €2 billion share buyback program?

As of March 14, 2025, Ferrari has purchased 5,011,020 shares for €1,642,569,697.35 since the program's start on July 1, 2022.

What percentage of Ferrari's (RACE) total issued share capital is held in treasury?

Ferrari holds 15,720,318 treasury shares, representing 8.71% of total issued share capital as of March 14, 2025.

What was the average price per share in Ferrari's (RACE) March 2025 Sell to Cover transaction?

Ferrari purchased shares at an average price of €414.0109 per share in the Sell to Cover transaction.