Additionally, aligned with Ferrari’s ambition to reduce CO2 emissions and to promote circularity, starting from 2026, we plan to introduce 100 percent recycled aluminum alloy for our engines (considering only the parts produced internally in our Maranello plant that weigh more than 80 percent of the engine). This action could reduce aluminum-related CO2 emissions by around 80 percent. This recycled alloy is characterized by high performance without compromising quality, differing mainly from primary alloys. Our ambition is to eliminate the use of primary alloys in our engines by relying on recycled raw materials. To align with market availability, we have developed a flexible process that allows us to use both primary and recycled alloys in engine components. No significant operational or capital expenditures have been allocated to this action in 2024 or are planned for the future.

Additionally, aligned with Ferrari’s ambition to reduce CO2 emissions and to promote circularity, starting from 2026, we plan to introduce 100 percent recycled aluminum alloy for our engines (considering only the parts produced internally in our Maranello plant that weigh more than 80 percent of the engine). This action could reduce aluminum-related CO2 emissions by around 80 percent. This recycled alloy is characterized by high performance without compromising quality, differing mainly from primary alloys. Our ambition is to eliminate the use of primary alloys in our engines by relying on recycled raw materials. To align with market availability, we have developed a flexible process that allows us to use both primary and recycled alloys in engine components. No significant operational or capital expenditures have been allocated to this action in 2024 or are planned for the future.

IROs in relation to resources use and circular economy matters have been identified during the double materiality assessment considering our products and production process. We have not carried out dedicated consultations with affected communities on this topic, but we have an ongoing dialogue with our suppliers to find recycled material solutions to reduce our emissions. For additional information on methodology adopted, please refer to “ESRS 2—General disclosures—Impacts, risks and opportunities management” paragraph.

Ferrari consistently strives for the highest quality in all materials used, ensuring durability over time. The Environmental Practice promotes the reuse of waste materials in the production process according to a circular economy approach. The practice covers impacts and opportunities such as the reduction of waste, promotion of circularity, and the use of recycled materials. Monitoring and management of environmental performance, including waste, is assigned to a team reporting to the Chief Technologies & Infrastructures Officer. IROs in relation to resources use and circular economy matters have been identified during the double materiality assessment considering products and production process. No dedicated consultations with affected communities have been carried out, but there is ongoing dialogue with suppliers. Resource inflows include raw materials like aluminum and polymers. Total resource inflows for 2024 are 34,199 Kg, with 1,577 Kg from secondary materials. Waste management aims to stabilize unit consumption over time, with ongoing projects to minimize waste generation. Total waste generated in 2024 is 9,707 t, with 3,302 t non-recycled waste.

Ferrari seeks to develop a cooperative environment in which the dignity of each individual is respected and that embodies the highest ethical standards in business conduct. The company is dedicated to maintaining a fair, secure, productive, and inclusive workplace for all members of its workforce, in which everyone is valued for their unique contribution. The basis of Ferrari’s governance model is the Code of Conduct that embodies a set of values recognized, adhered to, and promoted by the Company. Ferrari believes that a conduct based on the principles of diligence, integrity, and fairness is a key driver for social and economic development. The values are integrated into the Code of Conduct. The Company promotes its values and corporate culture both internally, through training activities and employee engagements, and externally, by publishing them on the corporate website.

Ferrari has adopted the Ethics Helpline, a channel which allows all stakeholders (employees, customers, suppliers, and partners) and any third parties to request advice and/or report concerns about alleged situations, events, or actions which may be inconsistent with the values set out in the Code of Conduct, Organizational Models, laws and regulations, as well as business practices and corporate rules. The allegations are assessed by the relevant departments of Ferrari and managed in accordance with the Whistleblowing Procedure, prepared on the basis of international best practices as well as applicable laws and regulations. The Ethics Helpline can be accessed either by phone or by web, with multiple languages available, and it is available 24 hours a day, seven days a week. Reports may also be made anonymously.

The Ferrari Group strives to uphold the highest standards of integrity, honesty, and fairness in all internal and external affairs and does not tolerate any kind of bribery. The laws of virtually all countries in which Ferrari operates prohibit bribery and any violation of anti-bribery and anticorruption laws would entail serious consequences for both companies and individuals, which can result in significant fines, imprisonment of individuals, and reputational damages.

The Ferrari Group strives to uphold the highest standards of integrity, honesty, and fairness in all internal and external affairs and does not tolerate any kind of bribery. The laws of virtually all countries in which Ferrari operates prohibit bribery and any violation of anti-bribery and anticorruption laws would entail serious consequences for both companies and individuals, which can result in significant fines, imprisonment of individuals, and reputational damages.

Ferrari has adopted the Ethics Helpline, a channel which allows all stakeholders (employees, customers, suppliers, and partners) and any third parties to request advice and/or report concerns about alleged situations, events, or actions which may be inconsistent with the values set out in the Code of Conduct, Organizational Models, laws and regulations, as well as business practices and corporate rules. The allegations are assessed by the relevant departments of Ferrari and managed in accordance with the Whistleblowing Procedure, prepared on the basis of international best practices as well as applicable laws and regulations. The Ethics Helpline can be accessed either by phone or by web, with multiple languages available, and it is available 24 hours a day, seven days a week. Reports may also be made anonymously.

Ferrari has adopted the Whistleblowing Procedure, in line with the Directive (EU) 2019/1937 of the European Parliament and of the Council, where protection of whistle-blowers is enclosed.