Q1 2017 Results – May 4th, 2017 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 Group’s integration of hybrid technology more broadly into its car portfolio over time may present challenges and costs; 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. Q1 2017 Results May 4th, 2017 22 A RECORD QUARTER: Shipments at 2,003 units, up by 121 units Recent events vs. previous year (+6.4%) – 812 Superfast unveiled at the Geneva Motor show – Strong contribution of V12 models with the GTC4Lusso, – Scuderia Ferrari achieved five podiums with Sebastian LaFerrari Aperta and the F12tdf Vettel winning two races so far – The 488 family posted a sound performance – 70th anniversary celebration events kicked-off – The F12berlinetta, at its 6th year of commercialization, – Opening of the Ferrari Land in PortAventura phasing-out – Ferrari and Ray-Ban multi-year agreement on licensing – California T at its 4th year of commercialization and sponsorship Financial results 2017 Outlook(3) confirmed – Net revenues at €821 million, up 21.5% – Shipments: ~ 8,400 including supercars – Adjusted EBITDA(1) of €242 million, margin at 29.5% – Net revenues: > €3.3 billion (30.1% without FX hedges(2)) – Adjusted EBITDA: > €950 million – Adjusted EBIT(1) of €177 million, 360 bps margin increase – Net industrial debt(4): ~ €500 million to 21.6% (22.3% without FX hedges(2)) – Adjusted net profit(1) up 60.1% to €124 million – Net industrial debt(1) reduced to €578 million ON THE WAY TO A GREAT YEAR Note: (1) Reconciliations to non-gaap financial measures are provided in the appendix (2) Margins without FX hedges have been calculated excluding FX hedges impact from net revenues, adjusted EBIT and adjusted EBITDA (3) Assuming FX consistent with current market conditions th Q1 2017 Results (4) Including a cash distribution to the holders of common shares and excluding potential share repurchases May 4 , 2017 3 Q1 2017 HIGHLIGHTS Q1 '17 2,003 Q1 '17 821 Shipments +6.4% Net revenues +21.5% (units) Q1 '16 1,882 (€M) Q1 '16 675 Total shipments up 121 units (+6.4% vs. PY) supported by a 50.1% increase in V12 models Net revenues up +21.5% (+20.4% at constant currencies) with sound performance of Cars and spare partially offset by a 3.3% decrease in V8 parts as well as Engines. In detail, Cars and spare parts growth was driven by higher volumes, strong mix, personalization, pricing increases and FX: The 488 family posted a sound performance The F12berlinetta, at its 6th year of Americas: €157 million (+16.1%) due to mix, China, Hong Kong and Taiwan, on a The GTC4Lusso, LaFerrari Aperta and F12tdf commercialization, phasing-out higher volumes along with personalization combined basis: €74 million (+24.8%) due to positively contributing California T at its 4th year of and FX mix, LaFerrari Aperta and higher volumes The GTC4Lusso T just arrived on the market commercialization EMEA: €275 million (+22.0%) due to LaFerrari Rest of APAC: €75 million (+23.2%) due to Aperta, strong volumes and personalization mix, LaFerrari Aperta and volumes as well as partially offset by FX FX (1) Adjusted EBITDA(1) Q1 '17 242 29.5% Adjusted EBIT Q1 '17 177 21.6% (€M and (€M and margin %) Q1 '16 178 26.3% +36.1% margin %) Q1 '16 121 18.0% +46.1% Adjusted EBITDA(1) grew by 36.1%, primarily driven by higher volumes, mix thanks to V12, Adjusted EBIT(1) margin increased by 360 bps driven by strong adjusted EBITDA(1) and higher positive FX and Engines to Maserati partially offset by F1 activities D&A mainly due to the GTC4Lusso family and LaFerrari Aperta Industrial free Q1 '17 76 Net industrial Mar. 31, 2017 (578) cash flow(1) +171.4% debt(1) -11.3% (€M) Q1 '16 28 (€M) Dec. 31, 2016 (653) Industrial free cash flow(1) driven by strong adjusted EBITDA(1) of €242 million partially offset by Net industrial debt(1) reduced to €578 million primarily due to the industrial free cash flow(1) capex of €72 million and €53 million of net change in working capital due to inventory increase generation. Cash distribution and 2017 tax advance payments will impact future quarters. driven by the projected volume growth in line with our 2017 outlook and lower capex payables vs. Q4 2016. Other included approx. €17 million due to 2016 employees’ extra-bonus payments and lack of contribution from advances of LaFerrari Aperta. 2017 tax advance payments will impact future quarters. Note: (1) Reconciliations to non-gaap financial measures are provided in the appendix. Q1 2017 Results Certain totals in the tables included in this document may not add due to rounding. May 4th, 2017 4 Q1 2017 – SHIPMENTS BY REGION(5) Americas EMEA (27% vs. 28% PY of total shipments) (52% vs. 51% PY of total shipments) Americas’ shipments increased by 4.2% EMEA’s shipments expanded by 8.8% USA – in Ferrari’s single largest market shipments increased by • UK – deliveries up 16% with robust performance of the 488 family, the approx. 3% due to strong performance of the 488 family, the F12tdf GTC4Lusso, just arrived on the market, and F12berlinetta. LaFerrari, and the GTC4Lusso which more than offset the California T at its 4th that completed its lifecycle in 2016, partially offset by LaFerrari Aperta. year of commercialization and the FF phase-out. • Germany (+23%) and Italy (+16%) continued to record double-digit F12berlinetta performed better than expected and LaFerrari Aperta growth together with France (+18%) mainly due to the 488 family, the just arrived on the market. GTC4Lusso and LaFerrari Aperta. Other European countries, Africa and Middle East recorded a few units decrease. First deliveries of the GTC4Lusso T. China, Hong Kong and Taiwan, on a combined basis Rest of APAC (8% vs. 8% PY of total shipments) (13% vs. 13% PY of total shipments) China, Hong Kong and Taiwan’s shipments combined grew by 3.2% Rest of APAC’s shipments up 4.0% China – shipments in line with prior year which posted a 67% Japan – deliveries in line with previous year.