🔎 What This Document Is

This is a 6-K filing, which is a periodic report foreign companies like Ferrari (based in the Netherlands but operating in Italy) file with the U.S. SEC to keep investors updated. Specifically, this report provides an update on Ferrari's ongoing program to buy back its own shares.

👉 In simple terms: Ferrari is telling the market, "Here's the latest batch of our own stock we've purchased this week as part of our big multi-year plan."

🏎️ What The Company Does

Ferrari N.V. (Ticker: RACE) is the iconic Italian luxury sports car manufacturer. Beyond cars, their brand extends to merchandise, licensing, and exclusive experiences. They operate in the ultra-high-end segment where brand value and exclusivity are paramount.

👉 Why it matters: Understanding Ferrari's brand power is key to understanding why it has the cash and strategic desire to buy back its own shares.

💰 The Buyback Program: The Big Picture

Ferrari is executing a massive, multi-year share buyback program totaling approximately €3.5 billion, expected to run until 2030. This was announced during their 2025 Capital Markets Day. The current report focuses on the "First Tranche," a specific €250 million portion of that larger plan.

👉 The signal: This is a strong, long-term commitment from management to return capital to shareholders and demonstrate confidence in the company's future value.

📊 Recent Purchases: The Weekly Detail

The filing details purchases made over four days from March 30 to April 2, 2026. Here’s the breakdown:

• On the Euronext Milan (EXM): Ferrari bought 36,500 shares for a total of €10.49 million.
• On the New York Stock Exchange (NYSE): Ferrari bought 14,693 shares for $5.00 million (which converted to about €4.34 million).
• Combined Total for the Week: 51,193 shares were purchased for a total consideration of €14.83 million.

👉 Key takeaway: They are actively using both their home and U.S. markets to execute this program, spreading out the purchases.

📦 The Cumulative Picture & Treasury Shares

Since the program's start date (January 5, 2026), Ferrari has spent a total of €232.06 million to buy back 788,793 shares. This brings their total holdings of treasury stock (shares they own themselves) to 17,433,399 shares.

👉 Why this matters: That treasury pile represents 8.99% of all Ferrari's common shares outstanding. When a company holds a large chunk of its own stock, it reduces the number of shares available on the open market, which can support the share price.

⚖️ Big Picture: Strengths & Implications

👍 Strengths:

• Financial Firepower: Spending hundreds of millions on buybacks shows strong, confident cash flow.
• Shareholder Alignment: This directly benefits remaining shareholders by increasing their ownership percentage of the company.
• Strategic Discipline: They are executing on a publicly stated, long-term capital allocation plan.

⚠️ Considerations:

• Opportunity Cost: The billions used for buybacks could also be invested in new factories, electric vehicle technology, or other growth initiatives.
• Execution Risk: The effectiveness of buybacks depends on the price paid; buying high isn't as beneficial.

🔮 What's Next

The buyback program is ongoing. Ferrari will continue purchasing shares on both exchanges under the rules of the program until the €250 million first tranche is complete, and then likely proceed with subsequent tranches toward the €3.5 billion total goal.

👉 For investors: This creates a steady, predictable source of demand for the stock over the next several years.

🧠 The Analogy

Think of Ferrari as the ultimate luxury brand deciding to buy back its own limited-edition watches from collectors. By doing so, they reduce the number in public circulation, making each remaining watch (share) potentially more exclusive and valuable. It’s a sign the brand believes its own "limited editions" are currently undervalued.

🧩 Final Takeaway

Ferrari is steadily executing its promised, multi-billion euro share buyback, spending €14.83 million in the latest week. This ongoing program signals management's confidence and systematically increases the ownership stake of long-term investors.

For further information: Media Relations Email: [email protected]