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based on the information provided :

1.valuations of ferrarri using comparable ratios

(justify why you chose the companies that you choose and the multiples )

2. give reasons why some valuations may not work well

Exhibit 6 Ferrari: The 2015 Initial Public Offering Data for Comparable Companies (in millions of curos) Total Revenue Capital Expend Projected EBITDA Growth Rate Market Value of Equity Total Debt Cash 6.1% 6.9% Auto Manufacturers BMW Daimler Fiat Chaysler Ford Motor General Motors Honda Motor Hyundai Motor Kia Motors Nissan Motor Peugeot Renault Tata Motors Tesla Motors Toyota Motor Volkswagen 80,401 129,872 96,090 108,619 117,554 96,196 63,924 33,730 82,101 53,607 41,055 33,811 2,411 196,622 202,458 6,099 6,307 8,121 5,626 8,946 6,374 3,385 1.446 11,432 2,428 2,703 4,100 731 24,233 16,613 16,426 18,514 8,271 8,537 6,674 12,730 7,233 2,800 10,879 3,318 3,967 5,647 9 30,260 23,048 10.1% 4.5% 6.9% 6,89% 1.6% 6.29% 7.0% 8.9% 5.5% 94.9% 3.29% 3.5% 56,562 77,906 18,657 52,925 46,554 51,128 33,631 16,977 40,013 12,230 23,096 16,701 26,400 186,069 52,916 77,506 66,689 33,724 98,484 38,710 52,483 40,802 3,535 51,796 21,914 36,299 10,952 2,051 147,344 139,021 7,688 15,543 23,601 25,743 24,391 11.427 19.547 5,502 6,698 10,521 14,049 7,125 1,590 40.497 34.143 Luxury Brands Burberry Group Cie Financiere Hermes International LVMH Moet Hennessy Prada Tiffany & Co. 3,221 10,410 4,119 30,638 3,552 3,248 199 708 279 1.848 362 189 745 2,902 1,478 7,027 954 819 2.6% 3.1% 6.8% 2.1% 1.9% 4.7% 7,691 38,986 35,297 80,731 8,772 9,125 90 3,093 41 9,243 519 989 865 8,553 1,481 4,648 720 648 Figures as of end of 2014, except Equity Value, which is as of October 2015. The projectea growth rate is equal to the 5-year compound annual growth rate of operating profits from 2014 actuals to 2010 forecast Data source FactSet the projected growth rate is obtained based on Value Line Investment Survey (August-October 2015) and author estimates Exhibit 6 Ferrari: The 2015 Initial Public Offering Data for Comparable Companies (in millions of curos) Total Revenue Capital Expend Projected EBITDA Growth Rate Market Value of Equity Total Debt Cash 6.1% 6.9% Auto Manufacturers BMW Daimler Fiat Chaysler Ford Motor General Motors Honda Motor Hyundai Motor Kia Motors Nissan Motor Peugeot Renault Tata Motors Tesla Motors Toyota Motor Volkswagen 80,401 129,872 96,090 108,619 117,554 96,196 63,924 33,730 82,101 53,607 41,055 33,811 2,411 196,622 202,458 6,099 6,307 8,121 5,626 8,946 6,374 3,385 1.446 11,432 2,428 2,703 4,100 731 24,233 16,613 16,426 18,514 8,271 8,537 6,674 12,730 7,233 2,800 10,879 3,318 3,967 5,647 9 30,260 23,048 10.1% 4.5% 6.9% 6,89% 1.6% 6.29% 7.0% 8.9% 5.5% 94.9% 3.29% 3.5% 56,562 77,906 18,657 52,925 46,554 51,128 33,631 16,977 40,013 12,230 23,096 16,701 26,400 186,069 52,916 77,506 66,689 33,724 98,484 38,710 52,483 40,802 3,535 51,796 21,914 36,299 10,952 2,051 147,344 139,021 7,688 15,543 23,601 25,743 24,391 11.427 19.547 5,502 6,698 10,521 14,049 7,125 1,590 40.497 34.143 Luxury Brands Burberry Group Cie Financiere Hermes International LVMH Moet Hennessy Prada Tiffany & Co. 3,221 10,410 4,119 30,638 3,552 3,248 199 708 279 1.848 362 189 745 2,902 1,478 7,027 954 819 2.6% 3.1% 6.8% 2.1% 1.9% 4.7% 7,691 38,986 35,297 80,731 8,772 9,125 90 3,093 41 9,243 519 989 865 8,553 1,481 4,648 720 648 Figures as of end of 2014, except Equity Value, which is as of October 2015. The projectea growth rate is equal to the 5-year compound annual growth rate of operating profits from 2014 actuals to 2010 forecast Data source FactSet the projected growth rate is obtained based on Value Line Investment Survey (August-October 2015) and author estimates

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