📄 What This Document Is

This is a 6-K filing, which is a report foreign companies like Ferrari (domiciled in the Netherlands) submit to the U.S. SEC to disclose major events. This specific report is an update on their active share buyback program. Think of it as a routine progress report showing shareholders exactly how the company is spending money to repurchase its own stock.

👉 In short: Ferrari is giving the market the receipt for its recent stock purchases.

🏎️ What The Company Does

In simple terms, Ferrari designs, manufactures, and sells luxury performance sports cars. They are an iconic Italian brand competing at the very high end of the automotive market, known for exclusivity, racing heritage, and high price tags. Their stock ticker is RACE, fitting for a company born on the racetrack.

💶 Buyback Program Details

Ferrari is executing a multi-year, €3.5 billion share buyback plan announced at its 2025 Capital Markets Day, expected to run until 2030. This filing updates on the €250 million "First Tranche" of that plan, which was specifically announced on December 16, 2025.

👉 Why it matters: Buybacks are a way for a company to return cash to shareholders. By reducing the number of shares outstanding, each remaining share represents a larger piece of the company, often boosting earnings per share (EPS).

📊 Recent Purchases & Totals

The report details purchases made during the week of March 23-28, 2026, on both the Italian (Euronext Milan) and New York (NYSE) stock exchanges.

Weekly Snapshot (March 23-27, 2026):

• Total Shares Bought: 107,859 common shares
• Total Cash Spent: €30,102,584 (≈ $32.5 million)
• Key Buying Days: Purchases were made every day, with the largest single-day spend (€8.6 million) on March 25, which included buys on both exchanges.

Cumulative Progress (Since Jan. 5, 2026):

• Total Shares Bought (Program to Date): 737,600 shares
• Total Cash Spent: €217,227,659 (≈ $235 million)
• Progress Against First Tranche: They have now spent €217 million of the €250 million allocated for this first phase.

🏦 Impact on Company Ownership

As of March 27, 2026, after these purchases, Ferrari holds 17,382,206 of its own shares in treasury.

• This represents 8.96% of all common shares issued.
• When including special voting shares, it represents 9.36% of total share capital.

👉 Why it matters: A rising treasury share count means fewer shares are "out in the wild" for public investors. This concentration can support the stock price and amplify future earnings growth.

🔮 What's Next

The buyback program will continue systematically. The company directs readers to the "Buyback Programs" section on its corporate website for a comprehensive, ongoing log of all transactions: https://www.ferrari.com/en-EN/corporate/buyback-programs. The larger €3.5 billion plan remains on track through 2030.

⚖️ Big Picture

👍 Strengths:

• Strong Cash Flow: Committing €3.5B to buybacks signals robust financial health and confidence in future cash generation.
• Shareholder Alignment: Directly returns capital to owners, a classic sign of a mature, cash-generative business.
• Disciplined Execution: Reporting details daily shows transparency and adherence to a planned program.

⚠️ Risks/Considerations:

• Use of Cash: Money spent on buybacks isn't spent on R&D, new factories, or acquisitions.
• Execution Risk: Buying shares at high prices can reduce the program's effectiveness. The average prices paid (~€279) are the benchmark.
• Program Scale: While €3.5B is large, it's spread over 4+ years, so the daily impact is gradual.

🧠 The Analogy

Ferrari is like a wealthy, successful family business that is buying back pieces of ownership from partners. Instead of letting those ownership slices get diluted or spread too thin, the family uses its profits to buy some back, making each remaining slice (share) more valuable for those who hold on.

📇 Key Contacts & People

• Media Relations Email: [email protected]

🧩 Final Takeaway

This is a mechanical but important update showing Ferrari efficiently executing its promised, multi-billion euro plan to shrink its share count. It's a financial engineering move designed to boost shareholder value over the long term, powered by the company's strong luxury brand and cash flows.