FERRARI PARTICIPATED AS A PURCHASER IN EXOR'S ACCELERATED BOOKBUILD OFFERING
Maranello (Italy), February 27, 2025 – Ferrari N.V. (NYSE/EXM: RACE) ("Ferrari" or the "Company") announces that, following the accelerated bookbuild offering made by Exor N.V. ("Exor") on February 26, 2025, the Company has participated in the offering by agreeing to repurchase 666,666 common shares for a total consideration of Euro 300 million, at the same price per share determined by the offering (the "Transaction"). The Transaction is being financed by Ferrari's cash on hand.
The Transaction represents the seventh tranche of the multi-year share buyback program of approximately Euro 2.0 billion announced during our 2022 Capital Markets Day (the "Program") and it falls within the limitations of the share buyback mandate approved at the April 17, 2024 Annual General Meeting of Shareholders, duly communicated to the market, which authorized the purchase of up to 10% of the Company's common shares during the eighteen-month period following such Shareholders' Meeting.
The Transaction is expected to settle on March 3, 2025.
Following the Transaction, the Company will continue to execute the Program consistently with the progress of its Industrial Free Cash Flow generation.
A comprehensive overview of the transactions carried out under the buyback program is available on Ferrari's corporate website under the Buyback Programs section (https://www.ferrari.com/en[1]EN/corporate/buyback-programs).
A registration statement on Form F-3 (including a prospectus) relating to the offering of Ferrari's common shares by Exor has been filed with the U.S. Securities and Exchange Commission (the "SEC") on February 26, 2025. Copies of the prospectus can be accessed for free through the SEC's website at www.sec.gov. Alternatively, copies may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at [email protected] and [email protected]; Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316, or by email at [email protected].
This press release contains information that qualifies, or may qualify, as inside information as defined in article 7(1) of Regulation (EU) 596/2014 of 16 April 2014 (the Market Abuse Regulation).
This notice does not constitute an offer to sell or a solicitation of an offer to buy securities in any jurisdiction where such offer or solicitation would be unlawful.
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