Exor Press Release - ABO Launch

Amsterdam, 27 February 2025

EXOR ANNOUNCES THE SUCCESSFUL PRICING OF THE ACCELERATED BOOKBUILD OFFERING FOR APPROXIMATELY 4% OF FERRARI’S OUTSTANDING SHARES

Exor N.V. ("Exor”) announces the successful pricing of the previously announced accelerated bookbuild offering involving the sale of approximately 7 million common shares of Ferrari N.V. ("Ferrari”) (representing approximately 4% of the outstanding common shares of Ferrari) to institutional investors (the "Offering”) for total proceeds of €3 billion.

Following completion of the transaction, EXOR will remain Ferrari’s single largest shareholder with approximately 20% of the economic rights and 30% of the voting rights in Ferrari’s share capital¹ and remains fully committed as a long-term shareholder of Ferrari. Moreover, in the context of the transaction, Exor has entered into a 360-day lock-up commitment, with respect to its remaining common shares of Ferrari.

The Offering is expected to settle on 3 March 2025.

Goldman Sachs Bank Europe and J.P. Morgan are acting as joint global coordinators and joint bookrunners (the "Joint Global Coordinators") and BNP Paribas, IMI – Intesa Sanpaolo, Société Générale CIB and UniCredit are acting as joint bookrunners (the "Joint Bookrunners") for the Offering.

About Exor

Exor N.V. (AEX: EXO) has been building great companies since its foundation by the Agnelli Family. For more than a century, Exor has made successful investments worldwide, applying a culture that combines entrepreneurial spirit and financial discipline. Its portfolio is principally made up of companies in which Exor is the largest shareholder including Ferrari, Stellantis, Philips and CNH.

For more information, please contact Investor Relations at ir@exor.com or Media at media@exor.com.
This press release contains information that qualifies, or may qualify, as inside information as defined in article 7(1) of Regulation (EU) 596/2014 of 16 April 2014 (the Market Abuse Regulation).

This communication does not constitute or form part of any offer to sell or a solicitation of an offer to buy any securities in the United States or any other jurisdiction. This communication does not constitute a prospectus or other offering document. No securities may be offered, sold or delivered in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended, and any public offering of securities in the United States is being made by means of a prospectus that may be obtained from Owl or Bee and that will contain detailed information about Owl and management, as well as financial statements. Owl has filed with the U.S. Securities and Exchange Commission a registration statement with respect to the Offering. 

No public offering is being made in any other jurisdiction where such an offering is restricted or prohibited or where such offer would be unlawful. The distribution of this announcement may be restricted by applicable laws and regulations. Persons who are physically located in those jurisdictions and in which this announcement is circulated, published or distributed must inform themselves about and observe such restrictions.

This communication is addressed in any member state of the European Economic Area only to those persons who are qualified investors in such member state ("Qualified Investors”) within the meaning of Regulation (EU) 2017/1129 and such other persons as this announcement may be addressed on legal grounds, and no person that is not a Qualified Investor may act or rely on this announcement or any of its contents.

This communication is directed only at (i) persons who are outside the United Kingdom, (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order”) or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons”). Any investment activity to which this communication relates will only be available to, and will only be engaged in with, relevant persons. Any person who is not a relevant person should not act or rely on this communication.

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¹ With economic rights based on outstanding common shares and voting rights based on outstanding common shares and special voting shares. As a result, these percentages may slightly differ from the percentages of share capital included in the public register of notifications held by the AFM.

Attachment

• Exor Press Release - ABO Pricing