2016: A YEAR OF RECORDS… ON THE WAY TO ITS 70TH ANNIVERSARY IN 2017

• Total shipments reached 8,014 units, up 350 units (+4.6%)
• Net revenues grew 8.8% (+9.4% at constant currencies) to Euro 3,105 million
• Adjusted EBITDA^[1] of Euro 880million, margin now at 28.3% (30% without FX hedges^[2]
• Adjusted EBIT⁽¹⁾ of Euro 632 million, 380 bps margin increase to 20.4% (22.2% without FX hedges⁽²⁾
• Adjusted net profit⁽¹⁾ up 37.1% to Euro 425 million
• Net industrial debt⁽¹⁾ reduced to Euro 653 million
• Cash distribution proposal of Euro 120 million or Euro 0.635 per common share^[3]

Maranello (Italy), February 2^nd, 2017– Ferrari N.V. (NYSE/MTA: RACE) (“Ferrari” or the “Company”) today announces its consolidated preliminary results^[6] for the fourth quarter and twelve months ended December 31, 2016.

Shipments

Shipments totaled 8,014 units in FY 2016, up 350 units or +4.6% vs. prior year. This achievement was driven by a 5% increase in sales of our 8 cylinder models (V8), led by the success of both the 488 GTB and the 488 Spider. Shipments of the 12 cylinder models (V12) were up 4% thanks to the newly launched GTC4Lusso and LaFerrari Aperta, which are ramping up, as well as the strong performance of the F12tdf. LaFerrari finished its limited series run.

All regions positively contributed. EMEA⁽⁷⁾ expanded by 8% with Italy, Germany and France growing at double-digit pace. Rest of APAC⁽⁷⁾ increased by 3%, Americas⁽⁷⁾showed a 2% increase while deliveries in Greater China⁽⁷⁾ were up only 1% due to Ferrari’s decision to terminate the current distributor in Hong Kong in the fourth quarter of 2016.

Total net revenues

Net revenues for FY 2016 were Euro 3,105 million, an increase of Euro 251 million or +8.8% (+9.4% at constant currencies) from FY 2015. Revenues in Cars and spare parts⁽⁸⁾ (Euro 2,180 million) were up 5% vs. prior year led by higher volumes of the 488 GTB, the 488 Spider, the F12tdf, the newly launched models GTC4Lusso and LaFerrari Aperta, the non-registered car FXX K, the strictly limited edition F60 America, along with higher contribution from our personalization programs and pricing increase from the fourth quarter of 2016. This was partially offset by LaFerrari that finished its limited series run. Engines⁽⁹⁾ revenues (Euro 338 million, +55%) showed a significant increase mainly due to strong sales to Maserati and higher rental revenues from other Formula 1 teams. Sponsorship, commercial and brand⁽¹⁰⁾ revenues (Euro 488 million, +11%) were up mostly due to better 2015 championship ranking compared to 2014, higher sponsorship revenues and positive contribution from brand related activities

Other⁽¹¹⁾ revenues (Euro 99, -14%) decreased mostly due to lower collateral revenues, including the deconsolidation of the European Financial Services business.

Adjusted EBITDA⁽¹⁾ and Adjusted EBIT⁽¹⁾

FY 2016 adjusted EBIT⁽¹⁾ was Euro 632 million, up Euro 159 million (+34%) vs. prior year as a result of higher volume (Euro 69 million), thanks to the 488 family, the F12tdf and the newly launched GTC4Lusso together with positive contribution from our personalization programs. Mix was negatively impacted (Euro -28 million) by lower sales of LaFerrari, that finished its limited series run, partially offset by the newly launched LaFerrari Aperta, the strictly limited edition F60 America, a positive range model mix as well as pricing increase. Research and development costs and industrial costs grew (Euro -3 million) mainly due to F1 costs, partially offset by lower D&A for the 458 family phase-out and LaFerrari, that finished its limited series run, along with industrial cost savings. SG&A^[12] decreased (Euro 15 million) mostly due to the different ranking in F1 racing activity in 2016 and the deconsolidation of the European Financial Services business, partially offset by higher costs related to new directly operated stores. FX, excluding hedges, had a negative impact (Euro -7 million) on transaction exchange rates mainly due to GBP, partially offset by JPY. Other (Euro 42 million) had a strong contribution from racing for sponsorship and commercial, Engines to Maserati and other F1 teams, as well as brand and other supporting activities.

FY 2016 adjusted EBIT⁽¹⁾ excluded charges of Euro 37 million due to Ferrari’s decision, following the ACRO (Amendment to the Coordinated Remedy Order) issued by NHTSA in December 2016, to review its previous estimates in connection with the extension of the Takata airbag inflator recalls worldwide on all vehicles mounting non-dessicated Takata passenger airbag inflators^[13].

Tax rate dropped to 29.5% in FY 2016 from 33.2% in FY 2015, mainly due to the combined effect of the Italian Government’s decision to reduce the nominal tax rate to 24% from 27.5% in 2017 and additional deductions related to eligible research and development costs in accordance with Italian tax legislation.

As a result of the items described above, adjusted net profit⁽¹⁾ for the FY 2016 was Euro 425 million, up Euro 115 million (+37%).

Industrial free cash flow⁽¹⁾ for the twelve months ended December 31, 2016 was Euro 280 million, primarily driven by a strong increase in cash flow from operating activities, including a positive change from advances on the newly launched LaFerrari Aperta, partially offset by slightly negative change in working capital, capex of Euro 340 million and taxes, which included FY 2015 tax balance and FY 2016 tax advance payments.

FY 2015 included one-time Euro 160 million related to the reimbursement by Maserati of its inventory in China and Euro 37 million one-time cash inflow from the sale of investment properties to Maserati.

Net industrial debt⁽¹⁾ at December 31, 2016 was reduced to Euro 653 million from Euro 797 million at December 31, 2015. The reduction was primarily due to the industrial free cash flow⁽¹⁾ generation, partially offset by cash distribution to the holders of common shares and dividends paid to non-controlling interest.

2017 Outlook

The Group is expecting the following performance in 2017, assuming FX consistent with current market conditions:

• Shipments: ~ 8,400 including supercars
• Net revenues: > Euro 3.3 billion
• Adjusted EBITDA: > Euro 950 million
• Net industrial debt: ~ Euro 500 million, including a cash distribution to the holders of common shares and excluding potential share repurchases

Distribution proposal

Subject to the approval of a cash distribution by the Board of Directors of the Company and to the adoption of the Company’s 2016 Annual Accounts by the Shareholders’ Annual General Meeting, the Company intends to make a cash distribution to the holders of common shares of Euro 0.635 per common share, corresponding to a total cash distribution to shareholders of approximately Euro 120 million.

Financial transactions

On December 14^th, 2016 Ferrari Financial Services Inc. renewed a USD 100 million unsecured bank loan facility of which USD 25 million were drawn.

On December 16^th, 2016 Ferrari N.V. prepaid a second tranche of Euro 300 million out of a Euro 1.5 billion Term Loan provided by a syndicate of banks in 2015, further reducing the outstanding to Euro 900 million.

On December 28^th, 2016 Ferrari Financial Services Inc. performed a revolving securitization program for funding of up to USD 120 million by pledging credit lines to Ferrari customers secured by personal vehicle collections and personal guarantees in the United States of America as collateral. The notes bear interest at a rate per annum equal to the aggregate of LIBOR plus a margin of 150 basis points.

On December 30^th, 2016 Ferrari N.V. and Ferrari Financial Services Inc. paid respectively Euro 92 million and USD 9 million as a first installment calculated on the outstanding Euro 900 million Term Loan originally provided by a syndicate of banks in 2015 for an initial amount of Euro 1.5 billion.

J50

On December 13^th, 2016 during a special celebration held at the National Art Center in Tokyo, Ferrari released the first images of the J50, a strictly limited edition car to commemorate the 50^th anniversary in Japan. Already presold, the 10 masterpieces will be mainly delivered in 2018. The J50, based on the 488 Spider, is powered by a specific 690 cv version of the 3.9-litre V8 that won the overall 2016 International Engine of the Year Award.

Hublot

On December 19^th, 2016 Hublot and Ferrari signed a multiyear renewal of their sponsorship and licensing agreements, extending the partnership started in 2011.

About Ferrari

Ferrari is among the world’s leading luxury brands focused on the design, engineering, production and sale of the world’s most recognizable luxury performance sports cars. Ferrari brand symbolizes exclusivity, innovation, state-of-the-art sporting performance and Italian design. Its history and the image enjoyed by its cars are closely associated with its Formula 1 racing team, Scuderia Ferrari, the most successful team in Formula 1 history. From the inaugural year of Formula 1 in 1950 through the present, Scuderia Ferrari has won 224 Grand Prix races, 16 Constructor World titles and 15 Drivers’ World titles. Ferrari designs, engineers and produces its cars in Maranello, Italy, and sells them in over 60 markets worldwide.

Forward Looking Statements

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 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; 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; competition in the luxury performance automobile industry; reliance upon a number of key members of executive management and employees; 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; 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; exchange rate fluctuations, interest rate changes, credit risk and other market risks; potential conflicts of interest due to director and officer overlaps with the Group’s largest shareholders 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.

Non-GAAP financial measures

Operations are monitored through the use of various Non-GAAP financial measures that may not be comparable to other similarly titled measures of other companies.

Accordingly, investors and analysts should exercise appropriate caution in comparing these supplemental financial measures to similarly titled financial measures reported by other companies.

We believe that these supplemental financial measures provide comparable measures of financial performance which then facilitate management’s ability to identify operational trends, as well as make decisions regarding future spending, resource allocations and other operational decisions.

Certain totals in the tables included in this document may not add due to rounding.

EBITDA is defined as net profit before income tax expense, net financial expenses/(income) and depreciation and amortization.

Adjusted EBITDA is defined as EBITDA as adjusted for income and costs, which are significant in nature, but expected to occur infrequently.

Adjusted Earnings Before Interest and Taxes (“Adjusted EBIT”) represents EBIT as adjusted for income and costs, which are significant in nature, but expected to occur infrequently.

Adjusted net profit represents net profit as adjusted for income and costs, which are significant in nature, but expected to occur infrequently.

Adjusted EPS represents EPS as adjusted for income and costs, which are significant in nature, but expected to occur infrequently.

Net Industrial Debt: defined as total Net Debt excluding the funded portion of the self-liquidating financial receivables portfolio, is the primary measure to analyze our financial leverage and capital structure, and is one of the key indicators used to measure our financial position.

Free Cash Flow and Free Cash Flow from Industrial Activities are two of management’s primary key performance indicators to measure the Group’s performance. Free Cash flow is defined as net cash generated from operations less cash flows used in investing activities. Free Cash Flow from Industrial Activities is defined as Free Cash Flow adjusted for the change in the in the self-liquidating financial receivables portfolio.

On February 2^nd, 2017, at 5p.m. CET, management will hold a conference call to present the Q4 2016 and full year 2016 results to financial analysts and institutional investors. The call can be followed live and a recording will subsequently be available on the Group website http://corporate.ferrari.com/en/investors. The supporting document will be made available on the website prior to the call.