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.

In 2024, a series of training activities, both online and in person, have been carried out involving employees. Moreover, in 2024, Ferrari continued to implement a training and verification project in different departments aimed at raising awareness on the specific topic of information confidentiality safeguards. Furthermore, specific Business Ethics and Compliance (“BEC”) surveys are conducted by the Internal Audit and Compliance functions as part of audit activities carried out according to the yearly audit plan, to assess the Ferrari Group's worldwide workforce awareness of the Code of Conduct and other ethics-related procedures. In 2024, BEC surveys were conducted on topics such as: Code of Conduct, Whistleblowing procedure, Gifts and Entertainment Expenses’ Management procedure, Group Regulatory Framework and Information Confidentiality. Based on the related outcomes dedicated and targeted training sessions and awareness activities were delivered.