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 does not have a formal policy with regard to late payments, however, it adopts clear and well-defined procedures for managing payments to suppliers, especially to small and medium enterprises (SMEs - Small and Medium Enterprises). The Days Payable Outstanding (DPO) is 65 days. Considering SMEs only, the average number of days are the same. These data refer to all payment transactions made to third party suppliers only through cash outflows or offsets by Ferrari S.p.A. in 2024, and the above indicated DPO is computed as the average number of days recorded between the date when the contractual or statutory terms of payment for each invoice starts to be calculated and the actual payment date, weighted by the amount of the invoice. The payment of certain invoices may occur after the original due date as a result of additional verification and control procedures that may be required for certain purchases prior to paying.