The materiality analysis is the process of identifying the topics that are relevant for the Group, based on an assessment of impacts, risks, and opportunities. In 2024, a double materiality analysis was conducted according to the European Sustainability Reporting Standard and related guidelines. The analysis is updated annually based on regulatory developments, business developments, and stakeholder engagement. The table on page 189 shows the link between ESRS topics and Ferrari’s material topics, including climate change, pollution, resource use and circular economy, and various workforce-related topics.

The significant impacts, risks, and opportunities identified include:

• Climate change: Energy consumption and related GHG emissions within the organization (Scope 1/Scope 2) and for upstream and downstream activities (Scope 3) with negative impacts on climate change and the community. These are concentrated in own operations, upstream, and downstream value chains.

• Natural resources management: Group’s contribution to pollution due to substances of concern and substances of very high concern, concentrated in own operations.

These impacts are linked to the sustainability strategy pillar of reducing the environmental footprint and are involved in the business dimensions of Sports Cars, Racing, and Lifestyle. The impacted stakeholders include own workforce, affected communities, workers in the value chain, consumers, and the environment.