In relation to the various comments and opinions that are now circulating regarding the shift of the fiscal residence of Ferrari S.p.A. ("Ferrari") away from Italy, Fiat Chrysler Automobiles N.V. ("FCA") confirms that the proposed separation of Ferrari from FCA does not and will not entail a change in the tax residence of Ferrari. In fact, Ferrari will continue to be organized under Italian law and tax resident in Italy. Ferrari will pay Italian taxes on its income as all Italian tax resident corporations do today.
The IPO and the subsequent distribution of shares to FCA shareholders will involve the parent company of Ferrari, which will be a Dutch incorporated entity.
