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

Ferrari N.V.
·2-min read
Ferrari N.V.
Ferrari N.V.

Maranello (Italy),  April 22 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

 

(€)

 

15/04/2024

EXM

3,856

392.3434

1,512,876.15

16/04/2024

EXM

3,920

386.4868

1,515,028.26

17/04/2024

EXM

3,833

391.8184

1,501,839.93

18/04/2024

EXM

3,853

389.0851

1,499,144.89

19/04/2024

EXM

3,905

388.3369

1,516,455.59

Total

--

19,367

389.5980

7,545,344.82

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

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Since the announcement of such Fourth Tranche till April 19, 2024, the total invested consideration has been:

  • Euro 178,864,444.33 for No. 516,590 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 19, 2024, the Company held in treasury No. 13,850,668 common shares equal to 5.39% 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 19, 2024, the Company has purchased a total of 3,026,564 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 801,603,488.70.

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).

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