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Q2 2017 Results August 2Nd, 2017

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Q2 2017 Results August 2Nd, 2017 Q2 2017 Results August 2nd, 2017 1 SAFE HARBOUR STATEMENT This document, and in particular the section entitled “2017 Outlook”, contains forward-looking statements. These statements may include terms such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “remain”, “on track”, “successful”, “grow”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “outlook”, “prospects”, “plan”, 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; the Group’s ability to keep up with advances in high performance car technology and to make appealing designs for its new models; the challenges and costs of integrating hybrid technology more broadly into Group’s car portfolio over time; the Group’s ability to preserve its relationship with the automobile collector and enthusiast community; the Group’s low volume strategy; the ability of Maserati, the Group’s engine customer, to sell its planned volume of cars; changes in client preferences and automotive trends; changes in the general economic environment and changes in demand for luxury goods, including high performance luxury cars, which is highly volatile; the impact of increasingly stringent fuel economy, emission and safety standards, including the cost of compliance, and any required changes to its products; 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 ability to service and refinance its debt; competition in the luxury performance automobile industry; 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 Group’s ability to provide or arrange for adequate access to financing for its dealers and clients, and associated risks; 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; product recalls, liability claims and product warranties; continued compliance with customs regulations of various jurisdictions; 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; ability to ensure that its employees, agents and representatives comply with applicable law and regulations; the adequacy of its insurance coverage to protect the Group against potential losses; potential conflicts of interest due to director and officer overlaps with the Group’s largest shareholders; ability to maintain the functional and efficient operation of its information technology systems and other factors discussed elsewhere in this document. 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. Q2 2017 Results August 2nd, 2017 22 RECORD QUARTERLY EBIT • Solid revenues of €920 million (+13.5%) driving adj. EBIT(1) to €202 million (+29.3%) • 812 Superfast just launched, waiting list beyond 2018 • Strong success of Ferrari’s client relations activities • Scuderia Ferrari fighting at the top • “International Engine of the year” and “Red Dot: Best of the Best” design awarded for the second and third year running respectively • 2017 Outlook confirmed ON TRACK FOR ANOTHER GREAT YEAR Note:(1) Reconciliations to non-gaap financial measures are provided in the appendix Q2 2017 Results August 2nd, 2017 3 Q2 2017 HIGHLIGHTS Shipments Q2 '17 2,332 Net revenues Q2 '17 920 (units) +5.3% (€M) +13.5% Q2 '16 2,214 Q2 '16 811 Total shipments up 118 units mainly driven by 36% increase in V12 models. V8 substantially in Net revenues up 13.5% (12.8% at constant currencies) line: • Cars and spare parts leading the way with volume and mix Solid performance of the 488 and the California T in its 4th year of • Solid Engines performance, mainly attributable to strong sales to Maserati GTC4Lusso families commercialization and the F12berlinetta • Partially offset by the deconsolidation of the European Financial Services business (November LaFerrari Aperta slightly offset by LaFerrari phasing-out 2016) 812 Superfast yet to arrive on the market F12tdf finishing its limited series run Adjusted EBITDA(1) Q2 '17 270 29.4% Adjusted EBIT(1) Q2 '17 202 21.9% (€M and +24.1% (€M and +29.3% margin %) Q2 '16 217 26.9% margin %) Q2 '16 156 19.3% Adjusted EBITDA(1) grew by 24.1% primarily driven by higher volumes, mix thanks to V12, Adjusted EBIT(1) margin increased by 260 bps driven by strong adjusted EBITDA(1) partially offset positive FX and engines to Maserati. Partially offset by higher R&D expenses for innovation, by higher D&A mainly attributable to the GTC4Lusso family and LaFerrari Aperta components and hybrid technology Industrial free Q2 '17 92 Net industrial Jun. 30, 2017 (627) cash flow(1) debt(1) -36.6% -3.9% (€M) Q2 '16 145 (€M) Dec. 31, 2016 (653) Industrial free cash flow(1) driven by strong adjusted EBITDA(1), partially offset by tax payments (FY Net industrial debt(1) reduced to €627 million thanks to positive industrial free cash flow(1) 2016 balance and FY 2017 first advance), capex and lack of contribution from advances of LaFerrari generation partially offset by cash distribution of €120 million Aperta Note: (1) Reconciliations to non-gaap financial measures are provided in the appendix. Q2 2017 Results Certain totals in the tables included in this document may not add due to rounding. August 2nd, 2017 4 Q2 2017 – SHIPMENTS BY REGION(2) Americas +3.0% • USA – up 2% with a strong performance of the 488 family, the GTC4Lusso and the limited edition LaFerrari Aperta. Partially offset by California T (4th year of commercialization), the F12berlinetta (phasing-out) and FF (phased-out in 2016). F12tdf finishing its limited series run. • The GTC4Lusso T yet to arrive on the market EMEA EMEA: +5.0% Americas (43% vs. 43% PY) • UK – shipments up almost 4% supported by the 488 and the GTC4Lusso families (the GTC4Lusso T just arrived on the (34% vs. 35% PY) market) and LaFerrari Aperta. Partially offset by the California T and the F12tdf. • Double-digit growth in France (+27%) and Italy (+25%) and mid single-digit in Germany (+6%) thanks to the 488 and the GTC4Lusso families • Other European countries up single-digit, while Middle East recorded a decrease due to reallocation triggered by tough market conditions China, Hong Kong and Taiwan, on a combined basis: -12.5% • China – single-digit growth driven by the GTC4Lusso family, partially offset by the California T (4th year of commercialization) • Hong Kong – slowdown due to Ferrari’s decision to terminate the distributor in Hong Kong in Q4 2016. New dealership fully operational by Q3 2017. China, Hong • Taiwan – up single-digit due to the GTC4Lusso family and LaFerrari Aperta Kong and Rest of APAC Taiwan, on a (17% vs. 15% PY) Rest of APAC: +20.5% combined basis (6% vs. 7% PY) • Japan – shipments grew by over 3% thanks to the 488 family, the GTC4Lusso and LaFerrari Aperta, partially offset by the California T. The GTC4Lusso T yet to arrive on the market. • Australia – strong increase of 81% primarily thanks to the 488 family and the GTC4Lusso which just arrived on the market • Other APAC – robust growth of 37% primarily due to the 488 and the GTC4Lusso families . SOLID PERFORMANCE OF THE 488 AND THE GTC4LUSSO FAMILIES AS WELL AS LAFERRARI APERTA Q2 2017 Results Note: (2) Refer to notes to the presentation in the Appendix August 2nd, 2017 5 NET REVENUES BRIDGE Q2 2016-2017 (€M) +13.7% +41.9% +5.6% -19.9% 920 80 30 7 811 26 +13.5%, +€109 million (8) (+12.8% at constant currencies) 34 124 117 101 71 589 669 Q2 2016 Cars and spare parts(3) Engines(4) Sponsorship, Other(6) Q2 2017 commercial and brand(5) Cars and spare parts Engines Sponsorship, commercial and brand Other • Cars and spare parts: higher volumes and positive mix led by the 488 and the GTC4Lusso families as well as LaFerrari Aperta along with a greater contribution from personalization programs, pricing increases and FX. Partially offset by the end of LaFerrari lifecycle in 2016 as well as the non-registered racing car FXX K and the strictly limited edition F60 America, completing their limited series run in 2016. • Engines: strong sales to Maserati more than offsetting the termination of the rental agreement with a Formula 1 racing team • Sponsorship, commercial and brand: higher sponsorship revenues, partially offset by lower 2016 championship ranking compared to 2015 • Other: decrease mostly due to the deconsolidation of the European Financial Services business since November 2016 Q2 2017 Results Note: Refer to notes to the presentation in the Appendix August 2nd, 2017 6 ADJ.
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