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

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

by Asia Insider

Maranello (Italy), November 11, 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

(€)

04/11/2024 EXM 3,700 441.6726 1,634,188.62
05/11/2024 EXM 55,000 412.1632 22,668,976.00
06/11/2024 EXM 9,448 409.6892 3,870,743.56
Total 68,148 413.4224 28,173,908.18

(*) 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 November 8, 2024, the total invested consideration has been:

  • Euro 199,999,033.02 for No. 484,498 common shares purchased on the EXM (equal to the full amount of the Fifth Tranche to be executed on EXM as announced on June 28, 2024)
  • USD 45,452,667.64 (Euro 41,004,362.64*) for No. 97,673 common shares purchased on the NYSE.

As of November 8, 2024, the Company held in treasury No. 14,746,497 common shares equal to 5.74% 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 November 8, 2024, the Company has purchased a total of 3,923,733 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 1,163,747,468.36.

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

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