The structure of the remuneration applicable to our executive Directors, non-executive Directors and other key management under Ferrari’s remuneration policy has not changed in 2024 and consists of the following elements:

1. Fixed Remuneration linked to the third pillar of Ferrari’s remuneration policy (Competitiveness) with the objective of attracting, retaining and motivating our qualified executives and effective leaders. For this reason, we periodically benchmark comparable salaries paid to executives with similar experience by comparable companies;

2. Short-Term Incentives (STI) linked to the first and second pillars of Ferrari’s remuneration policy (Alignment with Ferrari’s Strategy and Pay for Performance) and tied to specific financial targets which are set at challenging levels; short-term incentives are also linked to the contribution of the individual member (Individual Performance Factor) in order to motivate its beneficiaries to achieve challenging targets. In particular, Ferrari’s 2024 achievements, success and developments were driven by organization-wide alignment with the Company’s strategy and values, through incentives that reward the achievement of those goals;

3. Long-Term Incentives (LTI) linked to the first and fourth pillars of Ferrari’s remuneration policy (Alignment with Ferrari’s Strategy and Long-Term Shareholder Value Creation) with the aim to align the behavior of executives critical to the business with shareholders’ interests, motivate executives to achieve long-term strategic objectives, and enhance retention of key resources;

4. Non-Monetary Benefits which are related to the overall remuneration and linked to the third pillar of Ferrari’s remuneration policy (Competitiveness).

Regarding the LTI, during 2024, Ferrari had three long-term equity incentive plans in place, consistent with the Company’s business plan presented at the Capital Markets Day in June 2022 and awarding to their beneficiaries, as the case may be, a combination of performance share units (“PSUs”) and restricted share units (“RSUs”), each representing the right to receive one Ferrari common share. The long-term equity incentive plans are based, among other factors, on an ESG-related Factor Goal which accounts for 20 percent of the total LTI performance. The ESG-related Factor Goal focuses on an Environment Factor and a Social Factor:

• 50 percent of it is based on the Reduction CO2 Carbon Emission following the milestones of the Ferrari’s sustainability plan – Rolling KPI until 2030: for the intermediate years leading up to 2030, the amount of incentive attributed to this KPI will be assessed based on targets calculated through a year-by-year reduction proportional to product development up to 2030. This methodical approach ensures a progression towards the final targets established for the year 2030, allowing for a consistent and measurable tracking of the CO2 emission reduction efforts in alignment with Ferrari’s long-term sustainability objectives.

• 50 percent of it is based on the maintenance of the Equal Salary certification or equivalent certification. The award of this certification is based not only on equal pay for men and women, but in a more extensive way on targets of continuous improvement of diversity and inclusion culture and inclusive environment.

The ESG-related Factor Goal focuses on an Environment Factor and a Social Factor:

• 50 percent of it is based on the Reduction CO2 Carbon Emission following the milestones of the Ferrari’s sustainability plan – Rolling KPI until 2030: for the intermediate years leading up to 2030, the amount of incentive attributed to this KPI will be assessed based on targets calculated through a year-by-year reduction proportional to product development up to 2030. This methodical approach ensures a progression towards the final targets established for the year 2030, allowing for a consistent and measurable tracking of the CO2 emission reduction efforts in alignment with Ferrari’s long-term sustainability objectives.

• 50 percent of it is based on the maintenance of the Equal Salary certification or equivalent certification. The award of this certification is based not only on equal pay for men and women, but in a more extensive way on targets of continuous improvement of diversity and inclusion culture and inclusive environment.

Percentage of variable remuneration dependent on sustainability-related targets and/or impacts ("Premio di Competitività") is 30.4%. Percentage of variable remuneration dependent on sustainability-related targets and/or impacts (Long-term Incentive) is 12.3%.

The Compensation Committee oversees the remuneration policy, remuneration plans and practices of Ferrari and recommends changes when appropriate. The Committee is solely comprised of non-executive Directors from the Board of Directors who are independent pursuant to the Dutch Corporate Governance Code (the “Code”). Ferrari’s current remuneration policy was approved by shareholders at the 2024 AGM and will be resubmitted to a vote by the Company’s General Meeting at least every four years.

The table below provides a mapping of the information related to the due diligence process.

The sustainability reporting process is subject to internal controls that are based on risk assessment. The internal control system focuses on a set of disclosures identified as 'high-priority' KPI, determined based on a list of selected parameters, such as feasibility, complexity, potential reputational and reporting risks. The high priority KPIs are included in a 'risk control matrix', where controls are formalized and tracked.

The internal control system has been defined following the guidelines of the Internal Control over Sustainability Reporting (ICSR) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) and based on the COSO Internal Control-Integrated Framework (ICIF). For the set of selected KPIs, the entire data flow is mapped from primary data collection to consolidation and final validation, clearly defining roles and responsibilities. To mitigate the most relevant risks resulting from those selected KPIs, the Group has implemented an internal control process to ensure data consistency and accuracy. The nature and frequency of the controls varies based on the risks associated with each KPI. Depending on the control to be performed, different tools are used, including internal files specifically designed to support the control and various software.

The risk assessment approach involves identifying disclosures as 'high-priority' KPIs based on selected parameters such as feasibility, complexity, potential reputational, and reporting risks. These high-priority KPIs are included in a 'risk control matrix', where controls are formalized and tracked. The internal control system is defined following the guidelines of the Internal Control over Sustainability Reporting (ICSR) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) and based on the COSO Internal Control-Integrated Framework (ICIF). For the set of selected KPIs, the entire data flow is mapped from primary data collection to consolidation and final validation, clearly defining roles and responsibilities.

The main risks identified involve potential misstatements due to data elaboration or consolidation from primary sources. The risks identified are:

• Potential misstatements due to incorrect manual data entry, in relation to data referred to Energy, Waste, F-gas, Emissions, and Social areas;
• Potential misstatements due to incomplete data (in relation to the same areas of reporting as above);
• Potential misstatements due to incoherent or wrongly measured data (Energy, Waste, F-gas and Social);
• Potential misstatements due to incorrect data extraction from IT systems (in relation to the same areas of reporting as above);
• Potential misstatements due to errors in calculations, in particular for GHG data and social data;
• Potential misstatements due to wrong selection of conversion factors for calculations (Energy and GHG emissions).

As mitigation strategies, envisaged controls (also at entity level) can be either preventive or detective, depending on whether they are aimed at finding potential misstatements (detective) or rather avoid them (preventive). In relation to these mitigation strategies, a monitoring plan was introduced at the end of 2024 to prospectively test the adequacy of the design and the effectiveness of the controls in place to mitigate and reduce the identified risks.

The risk assessment performed during 2024 for the definition of the 'high-priority' KPIs will be updated in order to progressively include disclosures contained in the sustainability statement in the internal control framework. The Group Internal Control and Sox Compliance Function is responsible for the risks mitigation and related findings, and they periodically report updates and potential findings to the relevant management and supervisory bodies, in particular the FLT and the Audit Committee respectively.