Q1 2019 Result ults May y 7 th th , 2019 Q1 2019 Results May 7 th , - PowerPoint PPT Presentation

Q1 2019 Result ults May y 7 th th , 2019 Q1 2019 Results May 7 th , 2019 1

SAFE HARBOUR STATEMENT This document, and in particular the section entitled “ 2019 Guidance” contains forward-looking statements. These statements may include terms such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “remain”, “continue”, “on track”, “successful”, “grow”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “outlook”, “prospects”, “plan”, “guidance” or similar terms. Forward-looking statements are not guarantees of future performance. Rather, they are based on the Group’s current expectations and projections about future events and, by their nature, are subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them. Actual results may differ materially from those expressed in such statements as a result of a variety of factors, including: the Group’s ability to preserve and enhance the value of the Ferrari brand; the success of Ferrari’s Formula 1 racing team and the expenses the Group incurs for Formula 1 activities, as well as the popularity of Formula 1 more broadly; the Group’s ability to keep up with advances in high performance car technology and to make appealing designs for its new models; Group’s ability to preserve its relationship with the automobile collector and enthusiast community; changes in client preferences and automotive trends; changes in the general economic environment, including changes in some of the markets in which we operate, and changes in demand for luxury goods, including high performance luxury cars, which is highly volatile; competition in the luxury performance automobile industry; the Group’s ability to successfully carry out its growth strategy and, particularly, the Group’s ability to grow its presence in emerging market countries; the Group’s low volume strategy; reliance upon a number of key members of executive management, employees, and the ability of its current management team to operate and manage effectively; the performance of the Group’s dealer network on which the Group depend for sales and services; increases in costs, disruptions of supply or shortages of components and raw materials; disruptions at the Group’s manufacturing facilities in Maranello and Modena; the performance of the Group’s licensees for Ferrari-branded products; the Group’s ability to protect its intellectual property rights and to avoid infringing on the intellectual property rights of others; the ability of Maserati, the Group’s engine customer, to sell its planned volume of cars; continued compliance with customs regulations of various jurisdictions; the impact of increasingly stringent fuel economy, emission and safety standards, including the cost of compliance, and any required changes to its products; the challenges and costs of integrating hybrid technology more broadly into Group’s car portfolio over time; product recalls, liability claims and product warranties; the adequacy of its insurance coverage to protect the Group against potential losses; ability to ensure that its employees, agents and representatives comply with applicable law and regulations; ability to maintain the functional and efficient operation of its information technology systems, including our ability to defend from the risk of cyberattacks on our in-vehicle technology; the Group’s ability to service and refinance its debt; the Group’s ability to provide or arrange for adequate access to financing for its dealers and clients, and associated risks; labor relations and collective bargaining agreements; exchange rate fluctuations, interest rate changes, credit risk and other market risks; changes in tax, tariff or fiscal policies and regulatory, political and labor conditions in the jurisdictions in which the Group operates, including possible future bans of combustion engine cars in cities and the potential advent of self-driving technology; potential conflicts of interest due to director and officer overlaps with the Group’s largest shareholders and other factors discussed elsewhere in this document. The Group expressly disclaims and does not assume any liability in connection with any inaccuracies in any of the forward-looking statements in this document or in connection with any use by any third party of such forward-looking statements. Any forward-looking statements contained in this document speak only as of the date of this document and the Company does not undertake any obligation to update or revise publicly forward-looking statements. Further information concerning the Group and its businesses, including factors that could materially affect the Company’s financial results, is included in the Company’s reports and filings with the U.S. Securities and Exchange Commission, the AFM and CONSOB. Q1 2019 Results May 7 th , 2019 2

FERRARI PORTOFINO DRIVES SOLID Q1 2019 RESULTS Significant revenue growth with reported operating margins consistent with our 2019 guidance Diluted EPS (1) of € 0.95 (+21.8%) and strong industrial free cash flow generation (1) of € 282 million Successfully presented the Ferrari F8 Tributo at the Geneva Immagine Cavalcade Motor Show. Deliveries expected in H2 2019 Ferrari in pole position as world’s strongest brand, according to Brand Finance Ferrari Monza SP1 wins the iF Design Gold Award. Three more iF Design Awards won for the Ferrari Portofino, the 488 Pista and the one-off SP38 FIRING ON ALL CYLINDERS WITH THE FERRARI F8 TRIBUTO, FIRST OF 5 MODELS TO BE UNVEILED IN 2019 Note:(1) Reconciliations to non-GAAP financial measures are provided in the Appendix Q1 2019 Results May 7 th , 2019 3

Homage to both the model’s uncompromising layout and to the most powerful V8 engine in the Prancing Horse history for a non-special series car Q1 2019 Results May 7 th , 2019 4 4

Q1 2019 HIGHLIGHTS SHIPMENTS (2) NET REVENUES (UNITS) ( € M) Q1 '19 Q1 '19 2,610 940 +22.7% +13.1% Q1 '18 Q1 '18 2,128 831 DILUTED EARNINGS PER SHARE (1) ADJUSTED EBITDA (1) ( € M and margin %) ( € ) Q1 '19 0.95 Q1 '19 4 311 33.1% +14.1% +21.8% Q1 '18 0.78 Q1 '18 272 32.8% Positive impact from IFRS 16 first time adoption (simplified approach) NET INDUSTRIAL DEBT (1) INDUSTRIAL FREE CASH FLOW (1) ( € M) ( € M) Q1 '19 282 Mar. 31, 2019 (192) (63) (51) n.m. -48.4% Q1 '18 91 Dec. 31, 2018 (370) (100) Net Industrial Debt (1) excluding share repurchases Lease liabilities as per IFRS 16 first time adoption (simplified approach) Share repurchases Note: (1) Reconciliations to non-GAAP financial measures are provided in the Appendix (2) Refer to notes to the presentation in the Appendix Q1 2019 Results May 7 th , 2019 5 2019 results reflect IFRS 16 first time adoption (simplified approach). Certain totals in the tables included in this document may not add due to rounding

Q1 2019 – SHIPMENTS (2) SHIPMENTS BY REGION (3) SHIPMENTS BY PILLAR T otal shipments increased by 482 units (+22.7% vs. PY) supported by a 30.6% increase in V8 AMERICAS -% models and a 4.1% increase in V12 models: EMEA +9.6% +26.5% ICONA (46% vs. 52% PY) (28% vs. 27% PY)  Robust deliveries for the Ferrari Portofino  488 family currently lower than prior year due 18% 45% SPECIAL to the 488 GTB and Spider approaching the SPORT SERIES end of lifecycle, partially offset by the 488 Pista in ramp up phase. The 488 Pista Spider 37% yet to arrive on the market GT  V12 supported by the 812 Superfast REST OF APAC  Geographic mix shifted in favor of Mainland MAINLAND CHINA, PILLAR BREAKDOWN +29.3% HONG KONG AND China to accelerate deliveries in advance of (13% vs. 13% PY) TAIWAN +79.2% the early implementation of new emission (13% vs. 8% PY) regulations ATTRACTING NEW FERRARISTI THANKS TO THE FERRARI PORTOFINO Q1 2019 Results Note: (2) (3) Refer to notes to the presentation in the Appendix May 7 th , 2019 6

NET REVENUES BRIDGE Q1 2018-2019 +13.1%, + € 109 million at current currency  Car ars an and spar are par arts: growth reflecting +11.1%, + € 92 million at constant currency (8) volume increase of the Ferrari Portofino, the 812 Superfast as well as ( € M) ramp up of the 488 Pista, partially offset +18.3% -23.4% -1.2% +3.9% by lower sales of LaFerrari Aperta and 940 918 22 111 1 the 488 GTB as well as the 488 Spider 831 826 19 18 128 (19) (1) 124 phase out. Personalization programs 17 17 (5) 58 125 125 58 also positively contributed, along with 77 77 deliveries of the FXX K EVO.  Engin ines es: erosion reflecting lower 735 718 shipments to Maserati 612 607  Sponso nsorshi hip, com comme mercial cial an and bra rand: lower revenues from other brand related activities Q1 2018 FX hedges Q1 Q1 2018 w/o Cars and spare Engines (5) Sponsorship, Other (7) Q1 2019 at Change in FX Q1 2019 at 2018 FX hedges parts commercial constant 2018 vs. 2019 current (4) (8) (6)  Curr ncy (8) : net positive impact from and brand currency 2018 & FX hedges currency urrency Q1 2019 translation, transaction and hedges, Cars and spare parts Engines Sponsorship, commercial and brand Other mainly USD Note: (4) (5) (6) (7) (8) Refer to notes to the presentation in the Appendix Q1 2019 Results May 7 th , 2019 7