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.