Ferrari Capital Markets DAY, Strategic Plan 2022-2026 | Company

COMMITMENT TO UNIQUENESS, FURTHER ENRICHING THE PORTFOLIO

  • 15 new launches between 2023 and 2026.
  • Over the period of the plan, on average, Icona and Supercar models will represent less than 5% of total volumes, special series around 10%.
  • Purosangue will be unveiled in September 2022. Its average annual contribution to shipments will remain below 20% throughout its life cycle.
  • The highly anticipated new Supercar will arrive within the plan period.
  • The first all-electric Ferrari will be unveiled in 2025, as previously announced.

THREE POWERTRAIN UNITS WITH DISTINCTIVE DRIVING EMOTIONS

  • By 2026, the product offering will be 40% ICE, 60% hybrid and 100% electric.
  • The development of ICE, an essential element of the Company’s heritage, will continue.
  • Hybrid powertrains will continue to benefit from the technology transfer of Ferrari’s racing experience.
  • The electric motors will be designed, handcrafted and assembled in Maranello, to ensure a unique driving experience also derived from racing solutions.
  • The plan prioritizes revenue over volume and implies a strong mix/price contribution, reaching in 2026 an EBITDA of 2.5 to 2.7 billion euros with an EBITDA margin of 38% to 40%.
  • Cumulative capital expenditure of ~€4.4 billion to fuel product development, of which ~75% focused on product and ~25% on infrastructure.
  • Consistently generate strong cumulative industrial free cash flow of €4.6-4.9 billion over the 2022-2026 plan period.
  • Shareholders will be rewarded with a dividend distribution increased from 30% to 35% of adjusted net income from 2022 and a share buyback program of approximately €2 billion by 2026.

ACTING VOLUNTARILY TO ACHIEVE CARBON NEUTRALITY BY 2030

  • For scopes 1 and 2, Ferrari is implementing biomethane for the trigenerator, installing photovoltaic panels and fuel cell-based systems.
  • For Scope 3, electrification will reduce CO2e emissions from the vehicle use phase (at least -50% on average per car by 2030), in addition Ferrari is exploring solutions to reduce (at least -30 % on average per car by 2030) otherwise increasing raw material emissions mainly related to the battery module.
  • Ferrari is committed to setting scientific targets in line with the 1.5°C trajectory.

1 Please see public documents for complete notes and definitions of non-GAAP financial measures

2 OEM SBTi sector policy being revised, Scope 3 objectives subject to more stringent requirements

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