The description below summarizes the guidelines and the principles followed by Ferrari in order to define and implement the remuneration policy applicable to the executive Directors and non-executive Directors of the Company, as well as members of the Ferrari Leadership Team (FLT). The form and amount of compensation received by the Directors of Ferrari for the year ended December 31, 2024, was determined in accordance with the remuneration policy. 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 Board of Directors determines the compensation for our executive Directors following the recommendation of the Compensation Committee and with reference to the remuneration policy. The compensation structure for executive Directors and FLT members includes a fixed component and a variable component based on short and long-term performance. Our remuneration policy is aligned with Dutch law and the Code. In particular, the Code requires listed companies to disclose certain information about the compensation of their Board and executive Directors. Through this remuneration strategy, Ferrari fulfills the requirements of the Code ensuring full transparency with our shareholders. The main goal of Ferrari’s remuneration strategy is to develop a system which consistently supports the business strategy and value creation for all shareholders, establishing a compensation structure that allows us to attract and retain the most highly qualified executive talents and motivate such executives to achieve business and financial goals that create long-term value for shareholders in a manner consistent with our core business and leadership values and taking into account the social context around the Company.

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.