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.

In 2024, no amendments to Ferrari's strategy and business model occurred. The sustainability statement may not include every impact, risk, and opportunity or additional entity-specific disclosure that each individual stakeholder (group) may consider important in its own particular assessment. For more information about the engagement of stakeholders in the process of double materiality, refer to the paragraph 'Double materiality assessment methodology'.

Significant negative impacts include energy consumption and related GHG emissions (Scope 1/Scope 2/Scope 3) with negative impacts on climate change and the community. These impacts are concentrated in own operations, upstream, and downstream value chains. The group’s contribution to pollution due to substances of concern and substances of very high concern is another negative impact, concentrated in own operations. These impacts influence affected communities, workers in the value chain, consumers, and the environment.

The material impacts such as energy consumption and GHG emissions, and pollution due to substances of concern, are connected to the sustainability strategy pillar of reducing the environmental footprint. These impacts are linked to the business dimensions of Sports Cars, Racing, and Lifestyle, indicating their connection to Ferrari's strategy and business model.

The time horizon for material impacts such as energy consumption and GHG emissions, and pollution due to substances of concern, is short term.

Material impacts such as energy consumption and GHG emissions arise from own operations and are directly linked through business relationships in upstream and downstream activities. Pollution due to substances of concern arises from own operations and is caused through the group’s activities.

In 2024, no amendments to Ferrari's strategy and business model occurred. The sustainability statement may not include every impact, risk, and opportunity or additional entity-specific disclosure that each individual stakeholder (group) may consider important in its own particular assessment.

In 2024, no amendments to Ferrari's strategy and business model occurred. The sustainability statement may not include every impact, risk, and opportunity or additional entity-specific disclosure that each individual stakeholder (group) may consider important in its own particular assessment.

In 2024, no amendments to Ferrari's strategy and business model occurred. The sustainability statement may not include every impact, risk, and opportunity or additional entity-specific disclosure that each individual stakeholder (group) may consider important in its own particular assessment.