FERRARI RENEWS ITS PARTNERSHIP WITH PHILIP MORRIS INTERNATIONAL

12/3/25 6:19:09 AM ET

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Maranello (Italy), December 3, 2025 – Ferrari N.V. (NYSE/EXM: RACE) ("Ferrari" or "the Company") announced today that Ferrari S.p.A., its wholly-owned Italian subsidiary, has renewed and strengthened its multi-year partnership with Philip Morris International (NYSE:PM).

Under the agreement – signed today and taking effect on January 1, 2026 – Philip Morris International becomes a Premium Partner of Scuderia Ferrari HP and a Series Partner of the Ferrari Challenge Trofeo Pirelli, continuing a collaboration that has spanned more than 50 years.

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Company	Date	Price Target	Rating	Analyst
Ferrari N.V. $RACE	12/8/2025	$425.00	Overweight → Equal-Weight	Morgan Stanley
Ferrari N.V. $RACE	10/2/2025	$470.00	Hold → Buy	HSBC Securities
Ferrari N.V. $RACE	9/16/2025		Buy	Berenberg
Ferrari N.V. $RACE	9/2/2025		Hold → Buy	Deutsche Bank
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