Ferrari N.V.

Transaction in Own Shares • Jan 28, 2020

Ferrari N.V.: periodic report on the buyback program

Maranello (Italy), 27 January 2020 – Ferrari N.V. (NYSE/MTA: RACE) ("Ferrari" or the "Company") announces that under the third tranche of the common share buyback program announced on 14 November 2019 ("Third Tranche"), the Company has purchased additional common shares - reported in aggregate form, on a daily basis - on the Italian Stock Exchange (MTA) as follows:

Trading Date (dd/mm/yyyy)	Stock Exchange	Number of common shares purchased	Average price per share excluding fees	Consideration excluding fees (€)
20/01/2020	MTA	10,808	157.1680	1,698,672.20
21/01/2020	MTA	14,931	155.0682	2,315,323.06
22/01/2020	MTA	444	156.7412	69,593.10
23/01/2020	MTA	12,510	155.4394	1,944,546.79
24/01/2020	MTA	1,625	156.5320	254,364.55
Total	-	40,318	155.8237	6,282,499.70

Since the announcement of the Third Tranche of the buyback program dated 14 November 2019 till 24 January 2020, the total invested consideration has been:

• Euro 49,447,958.19 for No. 326,577 common shares purchased on the MTA
• USD 2,945,229.74 (Euro 2,650,730.37*) for No. 17,613 common shares purchased on the NYSE

resulting in total No. 8,741,797 common shares held in treasury as of 24 January 2020. As of the same date, the Company held 3.40% of the total issued share capital including the common shares and the special voting shares, net of shares assigned under the Company's equity incentive plan.

To date, since 1 January 2019, the Company has purchased a total of 3,009,323 own common shares on MTA and NYSE for a total consideration of Euro 401,729,178.45.

(*) translated at the European Central Bank EUR/USD exchange reference rate as of the date of each purchase

A comprehensive overview of the transactions carried out under the buyback program, as well as the details of the above transactions, are available on Ferrari's corporate website under the Buyback Programs section (http://corporate.ferrari.com/en/investors/stock-and-shareholder-corner/buybackprograms).

For further information: tel.: +39 0536 949337 Email: media@ferrari.com www.ferrari.com