Our decarbonization strategy defined in 2022 is aligned with the trajectory 'well below 2°C' in order to contribute to ambitions at the international, national and regional level, such as the Paris Agreement. In this context, our most significant environmental efforts are deployed through a program for the reduction of polluting and GHG emissions, both direct and indirect. During our 2022 Capital Markets Day we presented our 2022-2026 Strategic Plan and our decarbonization strategy, detailing our commitment to achieving Carbon Neutrality by 2030 on our entire value chain, addressing direct and indirect GHG emissions. Our decarbonization strategy is aligned with the Transport Science-Based Target setting Guidance of 2015 aligned with the trajectory 'well below 2°C' and entails a reduction of at least 90 percent of our Scope 1 and 2 (market-based method) absolute CO2eq emissions and a reduction of at least 40 percent of our Scope 3 emissions per car, with respect to 2021. Our decarbonization strategy is not defined as 'transition plan' as stated by the ESRS E1-1. Given that we plan to develop our new business plan in 2025, we are currently reviewing these targets.

Our decarbonization strategy defined in 2022 is aligned with the trajectory 'well below 2°C' in order to contribute to ambitions at the international, national and regional level, such as the Paris Agreement. In this context, our most significant environmental efforts are deployed through a program for the reduction of polluting and GHG emissions, both direct and indirect. During our 2022 Capital Markets Day we presented our 2022-2026 Strategic Plan and our decarbonization strategy, detailing our commitment to achieving Carbon Neutrality by 2030 on our entire value chain, addressing direct and indirect GHG emissions. Our decarbonization strategy is aligned with the Transport Science-Based Target setting Guidance of 2015 aligned with the trajectory 'well below 2°C' and entails a reduction of at least 90 percent of our Scope 1 and 2 (market-based method) absolute CO2eq emissions and a reduction of at least 40 percent of our Scope 3 emissions per car, with respect to 2021. Our decarbonization strategy is not defined as 'transition plan' as stated by the ESRS E1-1. Given that we plan to develop our new business plan in 2025, we are currently reviewing these targets.

Ferrari is firmly dedicated to respecting the rights of local communities and to positively contributing to their realization, believing that their cultural and natural heritage, as well as traditions and customs, are key elements for the success of its business and for the whole society. Our support to a range of associations and local authorities is evidence of our commitment in this area. For a detailed description of key contents refer to the Code of Conduct, please refer to the 'GI—Business Conduct—Business conduct policies and corporate culture' paragraph. In addition, the attention to affected communities is also outlined in the Human Rights Practice. For additional information please refer to the 'SI—Own workforce—Human Rights' paragraph. In particular, the affected communities can raise their concerns or needs through the Ethics Helpline, available on our corporate website. The Whistleblowing procedure protects the whistleblower against retaliation.

We defined our environmental targets, included in our 2022-2026 Strategic Plan, aligned with the Transport Science-Based Target setting Guidance of 2015 aligned with the trajectory 'well below 2°C'. The GHG emission reduction targets and the related action plan were reviewed by the Board of Directors. Below our emissions targets: a. carbon neutrality in our own operations already starting from 2021, through high-quality projects with climate and social contributions (decreasing by at least 90 percent our Scope 1 and 2 (market-based method) absolute CO2eq emissions - CO2, CH4, N2O and HFCs - by 2030 versus 2021); b. reduction of at least 40 percent of our Scope 3 emissions (CO2, CH4, N2O) per car, focusing mainly on materials and vehicle use phase. In particular, we aim to reduce upstream emissions by 30 percent per car and downstream emissions by 50 percent per car by 2030 versus 2021.

The overall operational and capital expenditure allocated for these activities was about € 4 million (please refer to the paragraph Consolidated Financial Statement) in 2024. For 2025, we have defined activities aligned with the previous year, updates are possible given that we plan to develop our new business plan in 2025.

The overall operational and capital expenditure allocated for these activities was about € 4 million (please refer to the paragraph Consolidated Financial Statement) in 2024. For 2025, we have defined activities aligned with the previous year, updates are possible given that we plan to develop our new business plan in 2025.

The overall operational and capital expenditure allocated for these activities was about € 4 million (please refer to the paragraph Consolidated Financial Statement) in 2024. For 2025, we have defined activities aligned with the previous year, updates are possible given that we plan to develop our new business plan in 2025.

We are in the process of structuring an ESG Due Diligence activity on our suppliers, however, we have not yet formalized a specific action plan to address the material impacts, risks and opportunities on all workers in the value chain. This implies that we have yet to implement systematic measures to identify, assess and mitigate risks that may jeopardize the well-being of workers involved in the different stages of our value chain. Furthermore, we have not developed concrete strategies to exploit opportunities that may arise in relation to the management of labor rights and working conditions within the value chain. However, we recognize the importance of taking a proactive approach in this area and are actively working to structure our due diligence process with the aim of developing a strategic framework for action.

We are in the process of structuring an ESG Due Diligence activity on our suppliers, however, we have not yet formalized a specific action plan to address the material impacts, risks and opportunities on all workers in the value chain. This implies that we have yet to implement systematic measures to identify, assess and mitigate risks that may jeopardize the well-being of workers involved in the different stages of our value chain. Furthermore, we have not developed concrete strategies to exploit opportunities that may arise in relation to the management of labor rights and working conditions within the value chain. However, we recognize the importance of taking a proactive approach in this area and are actively working to structure our due diligence process with the aim of developing a strategic framework for action.