Ferrari

2 FORWARD-LOOKING STATEMENTS Statements contained in this Interim Report, particularly those regarding our possible or assumed future performance, competitive strengths, costs, dividends, reserves and growth as well as industry growth and other trends and projections, are forward-looking statements that contain risks and uncertainties.

SEC original ↗Ferrari — Earnings release (6-K exhibit)EX-99May 5, 2026

We fund our capital expenditures primarily through cash generated from our operating activities.

SEC original ↗Ferrari — Earnings release (6-K exhibit)EX-99May 5, 2026

We also use liquidity to reward our shareholders through a combination of dividends and share repurchases, while maintaining a strong financial position and sufficient financial flexibility.

SEC original ↗Ferrari — Earnings release (6-K exhibit)EX-99May 5, 2026

In 2025, we paid dividends to owners of the parent company of 532 million and completed common share repurchases of 785 million.

SEC original ↗Ferrari — Earnings release (6-K exhibit)EX-99May 5, 2026

At our Capital Markets Day held on October 9, 2025, we announced a new multi-year share repurchase program of approximately 3.5 billion expected to be executed from 2026 to 2030, as well as the increase in our expected dividend payout ratio from 35 percent to 40 percent of Adjusted Net Profit starting from the 2025 annual results.

SEC original ↗Ferrari — Earnings release (6-K exhibit)EX-99May 5, 2026

We believe that our cash generation, together with our available liquidity, including committed credit lines granted by primary financial institutions and our access to debt capital markets, will be sufficient to meet our short term and long term liquidity requirements.

SEC original ↗Ferrari — Earnings release (6-K exhibit)EX-99May 5, 2026

The mix of net revenues by geography primarily reflects our allocation strategy to preserve the brand s exclusivity.

SEC original ↗Ferrari — Earnings release (6-K exhibit)EX-99May 5, 2026

The increase of 12 million in research and development costs was primarily driven by (i) an increase in amortization of capitalized development costs of 17 million, in line with our strategy to innovate and broaden our product portfolio, reflecting the start of production of new models, partially offset by a decrease in research and development costs expensed of 5 million.

SEC original ↗Ferrari — Earnings release (6-K exhibit)EX-99May 5, 2026

In addition to our operating requirements, we require cash to support capital investments aligned with our long-term strategy.

SEC original ↗Ferrari — Earnings release (6-K exhibit)EX-99May 5, 2026

These investments include expenditures for the continuous renewal and expansion of our product portfolio, supporting both current and future models, as well as research and development activities focused on innovation and technological advancement, including hybrid and electric technologies.

SEC original ↗Ferrari — Earnings release (6-K exhibit)EX-99May 5, 2026

Our capital investments also include expenditures related to our industrial activities and related infrastructure, such as manufacturing facilities, production efficiency, capacity development, sustainability initiatives, environmental and regulatory compliance and maintenance activities.

SEC original ↗Ferrari — Earnings release (6-K exhibit)EX-99May 5, 2026

2 FORWARD-LOOKING STATEMENTS Statements contained in this Interim Report, particularly those regarding our possible or assumed future performance, competitive strengths, costs, dividends, reserves and growth as well as industry growth and other trends and projections, are forward-looking statements that contain risks and uncertainties.

SEC original ↗Ferrari — Earnings release (6-K exhibit)EX-99May 5, 2026

These forward-looking statements reflect the respective current views of Ferrari with respect to future events and involve significant risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.

SEC original ↗Ferrari — Earnings release (6-K exhibit)EX-99May 5, 2026

The increase of 32 million in cost of sales was primarily attributable to a change in product mix, higher import tariffs in the United States, as well as higher industrial costs and other supporting activities, partially offset by lower volumes.

SEC original ↗Ferrari — Earnings release (6-K exhibit)EX-99May 5, 2026

The increase mainly comprised the combined effects of (i) a positive sports cars mix impact of 81 million, reflecting deliveries of the F80 and Special Series models despite the absence of the Daytona SP3 and lower sales of the 499P Modificata, a higher contribution from personalization, a positive country mix driven by Americas, net of higher import tariffs in the United States, partially offset by (ii) negative foreign currency exchange impact of 36 million (including foreign currency hedging instruments), mainly driven by the U.

SEC original ↗Ferrari — Earnings release (6-K exhibit)EX-99May 5, 2026

23 Risk Factors We face a variety of risks and uncertainties in our business.

SEC original ↗Ferrari — Earnings release (6-K exhibit)EX-99May 5, 2026

For a description of these risks and uncertainties please see Risk Factors in the Group s Annual Report and Form 20-F for the year ended December 31, 2025 filed with the AFM and the SEC on February 19, 2026.

SEC original ↗Ferrari — Earnings release (6-K exhibit)EX-99May 5, 2026