Annual Report and Accounts

CELEBRATING 110 YEARS OF INNOVATION ANNUAL REPORT AND ACCOUNTS 2023

WELCOME S TR A TE G I C R E P O R T G O VE R NAN C Aston Martin is an iconic, globally recognised brand, with a unique E position transcending ultra-luxury and high performance. F For more than a century, our brand has symbolised exclusivity, I elegance, power, beauty, sophistication, innovation, performance NAN and an exceptional standard of styling and design. C IAL S T A T E M E N T S F U R T What’s under the bonnet H E R INF STRATEGIC REPORT CORPORATE GOVERNANCE FINANCIAL STATEMENTS FURTHER INFORMATION OR 06 Strategic Pillars 74 Governance at a glance 132 Independent Auditor’s 207 Glossary M A 12 At a glance 75 Executive Chairman’s Report 208 Shareholder information T I 13 Business highlights introduction to governance 142 Consolidated Financial ON 14 Executive Chairman’s 76 Board of Directors Statements Statement 80 Executive Committee 147 Notes to the Financial 18 Chief Executive OfÏcer’s 82 Leadership and governance Statements Statement 86 Board activities 200 Parent Company Statement 22 Our market 89 Board and workforce of Financial Position 24 Stakeholder engagement engagement 202 Notes to the Parent 28 Section 172 Statement 90 Investor engagement Company Financial 30 Business model 92 Board and Committee Statements 32 Strategy evaluation 34 Key performance indicators 94 Nomination Committee 36 Chief Financial OfÏcer’s Report Statement 98 Audit and Risk Committee 38 Group Financial Review Report 42 Environmental, social 106 Sustainability Committee and governance Report 58 Task Force on 108 Directors’ Remuneration Climate-related Financial Report Disclosures 123 Directors’ Report 64 Risk management 129 Statement of Directors’ 70 Viability Statement Responsibilities 71 Non-financial and sustainability information statement

S S TR TR A A TE TE G G I I C C R R E E P P O O R R T T G G O O VE VE R R NAN NAN C C E E F F I I NAN NAN C C IAL IAL S T S R T A T A T A T T E E M O S M E E N H T N S T T S U S P F O F U U U R R R T HI T H H E S E R T R INF OR INF Y OR E OR L M E M C A T A T R T I IF I ON IE ON D A STORY 110 YEARS LONG ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 01

astonmartin.com

STRATEGIC REPORT A STORY 110 YEARS IN THE MAKING S TR A Over a century of pursuing TE G I C R perfection and finding E P O R T intensity. At every turn G O VE R 2 7 NAN 2 Broken in at Brooklands 4 A new name to the legacy 19 Our wheels rolled their first race here 19The war is gone and as the nation returns to normal C in the 1920s. Spinning all the way to life, the search for new owners accelerates. When E record-breaking heights. David Brown, a wealthy industrialist, is looking for a new investment opportunity, he sees an advert for a F I high-end motor business. It is Aston Martin, and the NAN first lines of a new chapter are written. C IAL S T A T E M E N T 1913 S F U R T H E R INF 9 Bonjour to victory 5 OR Voila. In 1959 the DBR1 takes the top 19 M two places in the famous Le Mans A T I 24 hours, just weeks after the debut of ON the DBR4 single seat car in Formula One. Aston Martin are back on track. 4 3 Breaching 100mph 19 The highlight of the 3rd Series cars came in 1934 with the Ulster. Designed from the shape of a Works racing car, with a modified engine to produce 85bhp. Unholstering a top speed that tops 100mph. 13 Two icons form one legend 9 1 15 January 1913. Robert Bamford and Lionel Martin set up shop in premises previously belonging to Hesse & Savory. Severely underwhelmed by the cars they sell and service, they clench their jaws, hoist their sleeves and decide to make their own. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 02

S S TR TR A A TE TE G G I I C C R R E E P P O O R R T T 9 Enter the mighty V12 9 G 3 Bonded to Bond 9 G O 6 As the end of the 90s draws near, 1 O VE 19 With the evolving desire for luxury the now legendary V12 engine, VE R and power, the charismatic 4.0 litre in its original 420bhp form pushed R NAN DB5 was born. An icon forever NAN the DB7 even further. C immortalised in the Bond movies, C E Goldfinger and Thunderball. E F F I I NAN NAN C C IAL 7 IAL S A 170mph arrival 7 S With a top speed of 170mph the arrival of 19 T T A A T the V8 Vantage bursts onto the scene, T E E M cementing Aston Martin as the first and M E E N only British supercar maker. N T T S S F F U U R R T 0 T H 7 Royalty driven H E E R 19The future King Charles III becomes the proud R INF owner of a Seychelles blue DB6 Volante, INF OR commencing a lifelong passion for Aston Martin. OR The car has since been converted to run on M Vanquish 01 M 0 A by-products of the wine and cheese industries. We unveil a new car in 2001, the V12 Vanquish. Using 2 A T T I I ON aluminium and carbon fibre along with traditional ON craftsmanship to construct its body and chassis. The first in a new evolution of cars that will set hearts racing and Aston Martin on a path to success. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 03

STRATEGIC REPORT A STORY 110 YEARS IN THE MAKING CONTINUED S TR A TE G I C R E 3 P 0 Made in Gaydon O R 20 After 50 years, we change gear and T move to our global headquarters in Gaydon. Our first purpose-built G facility. A cutting edge, needle-eyed O precise, state-of-the-art VE manufacturing centre. 19 Welcome to Wales R 0 NAN 2 Behold the opening of the gates of St Athan. A new purpose-built C facility in South Wales. This site E will be the home of the all new, all conquering, DBX ultra luxury F I performance SUV. NAN C IAL S One with Formula One® 21 T 0 A We make our return to Formula One® 2 T E and take our rightful place in the pit M E lane. At the peak of the pinnacle of N T the epitome of the sport. S F U R T H E R INF OR M A T I Impossible. Driven. 21 ON 0 The Valkyrie. As close as possible 2 to being a Formula One ® car without being restricted to the track. Space-age technology, handcrafted beauty and gravity-defyingly fast. Limitless luxury. 10 A four-door supercar 0 2 A surprise in the shape of a four-door coupe. The Rapide is the first Aston Martin to have four doors since the 1930s. The world’s most elegant four-door that will forever be a cult modern classic. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 04

S 23The world’s first super tourer S TR 0 TR 2 DB12. Redefining and reinventing what it means to A A TE be a tourer. An icon risen from 73 years of category TE G defining marvels. Cutting through continents, G I I C C R bruising benchmarks and taming tradition. R E E P P O O R R T T G G O O VE VE R R NAN NAN C C E FOUR E F F I I NAN NAN C C IAL IAL S PILLARS HAVE S T T A A T T E E M M E E N N T T S CONSISTENTLY S 2023 F F U U R R T T H FUELLED H E E R R INF 23110 years. 110 Aston Martins. INF 0 2 OR One very special lap. OR M A celebration of Aston Martin’s past, present and future. M OUR WINNING A A parade without parallel. A T T I I ON 110 Aston Martins. One for every year of our rich history. ON 110 years. 110 cars. Driving as one, for one lap. At the Formula One® Aramco British Grand Prix 2023. BLOODLINE… ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 05

STRATEGIC REPORT OUR STRATEGIC PILLARS S S TR TR A A TE TE G G I I C C R R E E P P O O R R T T G G O O VE VE R R NAN …THESE FOUNDATIONS NAN C C E E F F I I NAN ARE OUR KEY NAN C C IAL IAL S S T T A A T T E E M M E E N STRENGTHS WHICH N T T S S F F U U R R T T H H E E R R INF DRIVE OUR INF OR OR M M A A T T I I ON STRATEGY AND FUTURE ON GROWTH AMBITIONS. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 06

S TR A TE G I C R E P O R T G O VE R NAN C E F I NAN C IAL S T A T E M E N T S F U R T H E R INF OR M A T I ON READ MORE ABOUT OUR STRATEGY ON PAGES 32-33 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 11

STRATEGIC REPORT OUR STRATEGIC PILLARS CONTINUED 1. Our iconic brand S TR A TE G I C R E P O R T INTENSITY G O VE R Aston Martin is an iconic, globally recognised brand, NAN transcending ultra-luxury and high performance. For more than a century, our brand has been C synonymous with style, luxury, performance, and E exclusivity. Our renown for delivering beautiful, F awe-inspiring vehicles, matched with the best of I NAN British advanced engineering defines Aston Martin as something truly unique within the automotive industry. C Our brand exposure, perception and desirability are IAL strengthened by a strong, passionate, and loyal S T customer base, which has been significantly broadened A T by the successful return of the Aston Martin brand to E M the pinnacle of motorsport in Formula One®. E N T S F U R T H E R INF OR M A T I ON . EN V I DR . Y T I S EN T N I OF G N I EEL F E H T ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 07

S 2. Our relentless pursuit of innovation S TR TR A A TE TE G G I I C C R R E E P P O O R R T T VANGUARD G G O O VE VE R R NAN NAN C C E E F F I I NAN NAN C C IAL IAL S S T T A A T T E E M M E E N N T T S S F F U U R R T T H Driven by our ongoing commitment to innovation, we H E E R are expanding our breathtaking portfolio of ultra-luxury R INF high performance sports cars, including the ongoing INF OR introduction of our next generation of sports cars, OR M continued amplification of our critically acclaimed DBX M A A T SUV range, and our entry into the mid-engine sports car T I I ON segment. The arrival of significant and innovative new ON models is further boosted by our continued investment in establishing Aston Martin as an ultra-luxury, high Y performance brand supercharged with the association, G technology, and knowledge of Formula One®. LO O N H C E F T D O R A U G N A E V H T ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 08

STRATEGIC REPORT OUR STRATEGIC PILLARS CONTINUED S 3. Our promise, Racing. Green. S TR TR A A TE TE G G I I C C R R E E P P O O R R T T PROGRESS G G O O VE VE R R NAN NAN C C E E F F I I NAN NAN C C IAL IAL S S T T A A T T E E M M E E N N T T S S F F U U R R T T H Aston Martin is embracing a new, driving ambition: to H E E R be a world-leading sustainable ultra-luxury automotive R INF business. A key pillar of our overall corporate strategy, INF OR the Racing. Green. sustainability strategy is built on five S OR M core priority areas that reflect Aston Martin’s approach S M A E A T to sustainability. Fully aligned with the UN’s Sustainable R T I I ON Development Goals, our strategy reflects a deep G ON O understanding of the priorities that our customers, R employees and wider stakeholders care about. These R P U five areas are tackling climate change; creating a better R O E environment; investing in people and opportunity; W exporting success; and delivering the highest standards. O L P L I T W A H S T E L P I C N I R P ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 09

S 4. Our world-class talent S TR TR A A TE TE G G I I C C R R E E P P O O R R T T MASTERY G G O O VE VE R R NAN A key element of Aston Martin’s future growth strategy NAN is investing in our people. Led by our world-class C experienced management team that spans all functions C E from engineering, operational to commercial, we are E focused on building an inclusive, collaborative and F F I functional way of working that inspires innovation and I NAN develops a high-performance culture. Committed to NAN C making Aston Martin a Great Place to Work®, we are C IAL establishing company values, creating high quality IAL S employment opportunities, and investing in early S T T A careers, training, and skills. A T T E E M M E E N N T T S S F F U U R R T T H H E E R R INF INF OR OR M Y M A R A T T I I ON TE ON S A M H S ITI R B F O E N O R TH S S E L E M TI E TH ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 10

STRATEGIC REPORT AT A GLANCE S S TR TR A A TE Stronger than the TE G G I I C C R R E sum of our parts E P P O O R R T T G G O Our purpose guides us Our vision lights the way O VE Our purpose is to create vehicles with the ultimate technology, Our vision is to be the world’s most desirable, ultra-luxury VE R R NAN precision and craftsmanship that deliver thrilling performance British performance brand, creating the most exquisitely NAN and a bespoke, class-leading experience. addictive performance cars. C C E E Our values steer us Our strategy drives us F F I I NAN Our values are Unity, Openness, Trust, Ownership, and Courage. Our strategy is built on our key strengths of brand, product NAN At the core of our values is one single guiding tenet: No one innovation, sustainability, and our people, which are the pillars C C IAL builds an Aston Martin on their own. that drive our strategy and future growth ambitions. IAL S S T T A A T T E E M M E Our positioning in the market E N N T T S and product portfolio S Aston Martin is an iconic, globally recognised brand, with a unique position F transcending ultra-luxury and high-performance. For over 110 years our brand F U U R has symbolised exclusivity, elegance, power, beauty, sophistication, innovation, R T T H performance and an exceptional standard of styling and design. Our rich and H E E R prestigious heritage of delivering beautiful, awe-inspiring vehicles defines R INF INF Aston Martin as something truly unique within the automotive industry. OR OR M READ MORE ABOUT OUR MARKET ON PAGES 22-23 M A A T T I I ON ON ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 12

S S TR Our business highlights TR A A TE TE G REVENUE OPERATING LOSS TOTAL AVERAGE TOTAL SCOPE 1 & 2 G I I C C R SELLING PRICE (ASP) EMISSIONS R E E P P O O R £1.6bn £111m £231k 13,617 R T 2022: £1.4bn 2022: £142m 2022: £201k 2022: 14,843 T G G O O VE ADJUSTED EBITDA WHOLESALE VOLUMES NET DEBT ACCIDENT FREQUENCY VE R RATE R NAN NAN C £306m 6,620 £814m 0.4 C E 2022: £190m 2022: 6,412 2022: £766m 2022: 0.5 E F F I I NAN NAN C C IAL UK Where we operate EMEA2 IAL     S S T ASTON MARTIN ASTON MARTIN T A A T 1 T DEALERS DEALERS E E M M E E N N T 20 54 T S 2022: 21 2022: 52 S F WHOLESALE VOLUME WHOLESALE VOLUME F U U R R T T H H E 1,141 1,994 E R R INF 2022: 1,110 2022: 1,508 INF OR 1 All dealers are third-party 2 EMEA includes Europe, Middle OR M dealers, with the exception East and Africa (excluding the M A of one in the UK UK and South Africa) A T T I I ON ON AMERICAS ASIA PACIFIC     ASTON MARTIN ASTON MARTIN DEALERS DEALERS 44 45 2022: 44 2022: 48 WHOLESALE VOLUME WHOLESALE VOLUME 2,037 1,448 2022: 1,980 2022: 1,814 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 13

STRATEGIC REPORT EXECUTIVE CHAIRMAN’S STATEMENT SS TRTR AA Accelerating forward TETE GG II CC R R in our vision EE PP OO RR TT GG OO VEVE RR NANNAN CC EE FF II NANNAN CC th IALIAL he historic year of our 110 anniversary, 2023 marked an important EXECUTIVE ECHAIRMAN S S crossroads for Aston Martin Lagonda. An opportunity to reflect on TT C our rich heritage and progress to date, whilst accelerating forward AA L TT in our vision for the Company. EE L MM N EE NN E It’s now almost four years since I became Executive Chairman. As TT O I outlined at our Capital Markets Day in June 2023, we have made SS R R tremendous progress within that time, transforming our brand, our T FF Tproduct portfolio, and our balance sheet. UU RR S TT AW HH In 2023, Aston Martin delivered significant strategic milestones and EE RR L further financial progress, driven by continued strong demand for INF INF our ultra-luxury, high-performance products. OROR As a high-performance car enthusiast myself, I take immense personal MM AA pride in the collection of stunning new models we’ve introduced to our TT II community of owners and enthusiasts around the world. From our ONON critically acclaimed DBX707 luxury SUV, through to our instantly iconic new front-engine sports cars and groundbreaking mid-engine programme. In 2023, the rich mix of sales from this breathtaking product portfolio, driven by our ongoing commitment to innovation, supported growth in average selling prices to record levels. This, combined with our ongoing portfolio transformation, resulted in a significantly enhanced In 2023, Aston Martin delivered gross margin, remaining on track to achieve our longstanding target of around 40% gross margin in 2024. significant strategic milestones and Aligned to our vision of creating the most comprehensive product further financial progress, driven portfolio in our segment, we launched the highly acclaimed DB12 by continued strong demand in 2023. We have seen a clear demonstration of DB12 and our other ultra-luxury vehicles addressing the growing demand for unique for our ultra-luxury, personalised products, driving increased options revenue while high-performance products.” also attracting new customers to the brand. This arrival of important and innovative new products is further boosted by our continued investment in establishing Aston Martin as an ultra-luxury, high-performance brand – supercharged by our successful return to the pinnacle of motorsport, Formula One®. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 14

SS S TRTR TR AA A TETE TE GG G II I CC C R R R EE E PP P OO O RR R TT T GG G OO O VEVE VE RR R NANNAN NAN CC C EE E FF F II I NANNAN NAN CC C IALIAL IAL S S S TT T AA A TT T EE E MM M EE E NN N TT T SS S FF F UU U RR R TT T HH H EE E RR R INF INF INF OROR OR MM M AA A TT T II I ONON ON ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 15

STRATEGIC REPORT EXECUTIVE CHAIRMAN’S STATEMENT CONTINUED SS Our fantastic partnership with the Aston Martin F1® Team sits at TRTR the heart of our brand, with other key marketing activities in 2023 AA th TETE including the global celebration of our historic 110 anniversary and GG II continued implementation of our renewed corporate identity across CC our network. R R EE PP OO A key landmark in that ultra-luxury retail strategy was achieved in June RR TT 2023, with the opening of our first global flagship location, Q New York, on one of the most prominent corners of Midtown Manhattan. Where Savile Row meets Park Avenue, the new showroom brings GG the highest levels of our Q by Aston Martin bespoke service to OO VEVE North America for the very first time, providing the most sophisticated RR luxury specification experience available anywhere in the world. NANNAN CC Looking ahead to 2024, it is a year that promises to be a significant EE and exciting one for the brand, with the highly anticipated arrival of thrilling new products. This includes the future development of our FF portfolio with the completion of our line-up of next generation, front- II engine sports cars, following the recent unveil of Vantage, and NANNAN the continuation of our Specials programmes. These and other CC advancements will support the delivery of the Company’s near- and IALIAL T S S medium-term financial targets, as we unleash the power of our S E TT brand and continue our growth trajectory. AA N T TT I EE A MM R Alongside my fellow leaders and consortium members, I couldn’t EE H NN be more enthusiastic about the opportunities ahead for Aston Martin. A TT I thank you for joining us on our exciting journey as we continue to L B SS L deliver our strategy and move forward on the pathway we’ve now O R T FF forged towards our targets. UU E S RR C TT N HH LAWRENCE STROLL A EE L RR EXECUTIVE CHAIRMAN INF INF In the 2023 season, Aston Martin experienced a 20% increase in on-line configurations sent to dealers on OROR race weekends compared with non-race weekends. MM AA TT II ONON Looking ahead to 2024, it is a year that promises to be a significant and exciting one for the brand, with the highly anticipated arrival of thrilling new products.” ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 16

SS S TRTR TR AA A TETE TE GG G II I CC C R R R EE E PP P OO O RR R TT T GG G OO O VEVE VE RR R NANNAN NAN CC C EE E FF F II I NANNAN NAN CC C IALIAL IAL S S S TT T AA A TT T EE E MM M EE E NN N TT T SS S FF F UU U RR R TT T HH H EE E RR R INF INF INF OROR OR MM M AA A TT T II I ONON ON 88% of luxury car buyers interested in Formula One® are more likely to buy an Aston Martin because of the brand’s involvement in the sport. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 17

STRATEGIC REPORT IN CONVERSATION WITH OUR CEO SS TRTR AA Aligning the organisation for TETE GG II CC R R its positive future direction EE PP OO RR TT GG OO VEVE RR NANNAN CC EE FF II NANNAN CC IALIAL medeo Felisa was appointed as Chief Executive OfÏcer of Aston Martin CHIEF EXECUTIVE OFFICER in May 2022, with a focus on leading a new phase of growth and S S O TT development for the Company. AA TT A EE MM DE S A former CEO of Ferrari with three decades of experience within the EE I NN ultra-luxury automotive segment, Amedeo is one of the most TT highly regarded leaders and engineering professionals in the sector. SS ME Formerly a Non-executive Director of Aston Martin, he previously FEL FF A Aserved as Chairman of the Company’s Product Strategy Committee. UU RR TT HH He reflects on an important year for the business in 2023. EE RR INF INF IT’S NOW APPROACHING TWO YEARS SINCE YOU BECAME CEO. HOW MUCH PROGRESS HAS BEEN MADE DURING OROR THAT PERIOD? MM AA When I first became CEO in 2022, I identified immediate priorities TT II ONON across three key areas; our product, processes, and people. I think we’ve made considerable progress on all fronts. From a product perspective, I’m very pleased at how the business capitalised commercially on the strength of DBX707, which really marked the start of our heightened focus on ultra-luxury and high-performance. That has now been followed up with the first of our next generation of sports cars, DB12, and the introduction of magnificent new Specials which have generated high demand from our top customers and supported our gross margin and incredibly We’ve also introduced a host of strong average selling price and growth in total options revenue. new processes to improve our We’ve also introduced a host of new processes to improve our product product development, development, engineering, and manufacturing capabilities, while engineering, and manufacturing importantly continuing to invest in people, skills, and our facilities. These combined, will make Aston Martin a Great Place to Work® capabilities, while importantly and truly align the organisation for accelerated growth. continuing to invest in people, skills, and our facilities.” ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 18

SS S TRTR TR AA A TETE TE GG G II I CC C R R R EE E PP P OO O RR R TT T GG G OO O VEVE VE RR R NANNAN NAN CC C EE E FF F II I NANNAN NAN CC C IALIAL IAL S S S TT T AA A TT T EE E MM M EE E NN N TT T SS S FF F UU U RR R TT T HH H EE E RR R INF INF INF OROR OR MM M AA A TT T II I ONON ON ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 19

STRATEGIC REPORT IN CONVERSATION WITH OUR CEO CONTINUED TH SS 2023 SAW ASTON MARTIN CELEBRATE ITS 110 OVERALL, HOW DO YOU ASSESS THE COMPANY’S TRTR ANNIVERSARY. HOW IMPORTANT WAS THAT MILESTONE FINANCIAL PERFORMANCE IN 2023? AA FOR THE BRAND? At our Capital Markets Day in June 2023, we spoke about accelerating TETE GG th II At the start of 2023, we said that we wanted our 110 year to be just as progress and I think we have demonstrated our ability to execute CC R R exciting as our first, and I believe we’ve firmly lived up to that promise! with improved financial performance this year. This has been EE The anniversary itself has been a fantastic opportunity to celebrate supported by continued demand for our new and existing ultra-luxury PP OO not just our unique heritage and brand equity, but also look firmly high-performance vehicles. RR to the future through the new products we’ve launched and the TT global series of events that have taken place to bring our community The rich mix of sales, driven by our ongoing commitment to product of customers even closer to the brand. innovation, supported growth in total and core average selling prices. GG OO Combined with ongoing business transformation efforts, this provided VEVE th Our 110 anniversary special edition Valour has proved to be a a significantly improved gross margin, continuing progress towards RR monumental commercial success and demonstrated our unique our mid-40s% gross margin target in 2027/28. NANNAN ability to operate at the very highest levels of the luxury automotive CC segment and attract new customers and collectors to the brand. THE FOURTH QUARTER HELD HUGE SIGNIFICANCE FOR EE ASTON MARTIN, WITH RECORD Q4 ADJUSTED EBITDA. IT HAS BEEN ANOTHER YEAR OF EXCITING NEW PRODUCT DOES THIS SHOW THE POTENTIAL OF THE BUSINESS? FF LAUNCHES FOR ASTON MARTIN. HOW SIGNIFICANT IS As expected, due to the timing of new models, Q4 was very strong II PRODUCT INNOVATION TO THE OVERALL with around a third of the year’s wholesales recorded in the period. NANNAN TRANSFORMATION OF THE COMPANY? Despite the slight delay to the DB12 ramp up, we saw strong ASP CC It’s essential. We know that to achieve our growth ambitions for the growth due to the pricing of our next generation sports cars and IALIAL Company we must have leading products in all of the fastest growing Specials, supporting record adjusted EBITDA in Q4. S S TT segments of the ultra-luxury market. The introduction of DB12, and AA TT now Vantage, has driven huge reappraisal of Aston Martin amongst Whilst pleased at our overall operational performance and ability to EE MM new audiences, as well as engaged and excited loyal customers adapt, clearly the longer-term opportunity for our business from 2025 EE NN who have always adored the brand. onwards is to deliver greater consistency across the year, underpinned TT by our product planning. SS 2024 now sees us begin to complete our vision to have a world-class FF product portfolio, with an incredible line-up of new front-engine HOW IMPORTANT HAS INVESTMENT IN PEOPLE UU RR sports cars to be completed by the end of this year, joining the best BEEN IN 2023? TT HH performance SUV in our segment. Then to complement the portfolio Driving forward investment in our people and culture has been one of EE RR we have an incredible, mid-engine supercar in Valhalla on the horizon, my key priorities since becoming CEO. In 2023, we launched new INF INF with prototype testing already taking place and the model currently company values which are at the heart of our commitment to making on course to enter production before the end of 2024. Aston Martin a Great Place to Work®. We’ve also completed phase OROR one of our plans to enhance communal facilities at our Gaydon MM AA WHAT INSIGHTS AND LEARNINGS HAVE THE DB12 LAUNCH headquarters and expanded our employee engagement programme TT II PRESENTED FOR THE BUSINESS AS YOU PREPARE TO with new internal initiatives and events, including a family weekend, ONON REVEAL FURTHER SPORTS CARS IN 2024? which saw more than 10,000 employees and their friends and families Commercially, I think the successful launch of DB12 has reinforced the attend. market opportunity we saw in our new positioning at the crossroads of ultra-luxury and high-performance. Media and customer feedback As part of our efforts to deepen our colleagues relationship with the about the design, performance and driving dynamics of the car have Company, during 2023 we also successfully launched our first been incredible, while the new interior and bespoke infotainment all-employee share plan, “Sharing Success”, which awarded 425 free system have been viewed as a huge positive for our future product shares to 2,541 employees. direction. The model was recently awarded “Car of the Year” for 2024 by Robb Report and confirmed by Autocar magazine as a true “Super GT”. This year we also welcomed a breadth of new talent to complement our skilled and passionate team. This ranges from an enhanced early On an operational level, clearly, during Q3 readiness and EE platform careers intake through to the recruitment of more than 100 people to integration issues caused initial production ramp up delays of DB12, new manufacturing positions at Gaydon and senior appointments which led to slightly lower wholesale volumes than we originally in areas such as electrification. Supported by our Electrification expected for the year. We have built stronger resilience in our supply Centre of Excellence, we continued our journey towards the first chain and product development processes over the last 18 months battery electric Aston Martin, with 205 colleagues completing over through increased alignment and investment in our relationships with 2,377 hours of specialist EV-related instructor-led training. suppliers. However, as we bring new products to the market in 2024 and navigate a challenging global environment, we must continue AMEDEO FELISA to build even more resilience. CHIEF EXECUTIVE OFFICER ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 20

SS S TRTR TR AA A TETE TE GG G II I CC C R R R EE E PP P OO O RR R TT T GG G OO O VEVE VE RR R NANNAN NAN CC C EE E FF F II I NANNAN NAN CC C IALIAL IAL S S S TT T AA A TT T EE E MM M EE E NN N TT T SS S FF F UU U RR R TT T HH H EE E RR R INF INF INF OROR OR MM M AA A TT T II I ONON ON 100+ new manufacturing positions at Gaydon and senior appointments in areas such as electrification ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 21

STRATEGIC REPORT OUR MARKET S TR A Positioned to address demand for TE G I C R ultra-luxury high-performance E P O R T G O VE R NAN The Global Luxury Market Sustainable long-term growth in demand for luxury goods globally C HOW WE’RE RESPONDING E as the world’s Ultra High Net Worth Individual (UHNWI) population is expected to increase by 29% between 2022 and 2027* LINK TO STRATEGY: F I WHAT THIS MEANS FOR OUR BUSINESS 1 2 NAN – Operating as an ultra-luxury brand with a demand-led strategy C – Investing in our brand and international marketing, events and IAL sponsorship to grow our appeal to ultra-luxury consumers LINK TO RISKS: S 1 2 3 7 8 9 12 T – Investing in our ultra-luxury customer journey and retail A T experience in partnership with our dealer network E M – Creating limited and special models to cater for our most E N exclusive customers T S *2023 Knight Frank Wealth Report F Market Expansion U R T Opportunity to expand Aston Martin’s brand presence and market H HOW WE’RE RESPONDING E R share for ultra-luxury cars in both established and expanding regions INF across a broader demographic LINK TO STRATEGY: 1 2 3 4 OR WHAT THIS MEANS FOR OUR BUSINESS M A – Continuing product innovation to develop portfolio plans as well T I as brand strategy and creative identity that give Aston Martin LINK TO RISKS: ON significant presence in ultra-luxury market segments 1 2 3 5 7 8 9 11 12 – Strengthening regional leadership, including appointment of a new Regional President and Managing Director in China – Connecting with dealers and customers through targeted events – Growing our brand awareness and desirability through the global platform of Formula One® Personalisation and Customisation Growing demand for unique and bespoke personalised products HOW WE’RE RESPONDING amongst ultra-luxury consumers LINK TO STRATEGY: WHAT THIS MEANS FOR OUR BUSINESS 1 2 – Expanding our Q by Aston Martin offering – our ultimate bespoke personalisation service, with an increase in options revenue in 2023 – Opening Q New York, our first global ultra-luxury flagship location LINK TO RISKS: providing the most sophisticated luxury specification experience 2 3 7 9 12 available anywhere in the world – Launching limited-edition Specials for our most distinguished customers including Valour in 2023 – Expanding our award-winning online configurator ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 22

A REMINDER OF OUR STRATEGIC PILLARS PRINCIPAL RISKS SEE MORE ON PAGES 32-33 SEE MORE ON PAGES 65-68 1 Macroeconomic and political instability   2 Brand/reputational damage our relentless   3 Technological advancement   S our iconic pursuit of 4 Climate change S TR 1. brand 2.innovation 5   TR A Liquidity A   TE 6 Impairment of capitalised development costs TE   G 7 G I Compliance with laws and regulations I C   C R 8 Talent acquisition and retention R   E 9 Programme delivery E   P P O 10 Achieving financial and cost-reduction targets O   R Our promise, our world class R T 11 Cyber security and IT resilience T 3.Racing. Green. 4.talent   12 Supply chain disruption   G G O O VE VE R R NAN NAN Geopolitical and Macroeconomic Environment C C E Continued global political and economic uncertainty in a post- HOW WE’RE RESPONDING E COVID-19 era of inflationary pressures and higher interest rates LINK TO STRATEGY: F F I WHAT THIS MEANS FOR OUR BUSINESS I NAN – Maintaining our production and business operations through 2 3 4 NAN C diligent workplace health and safety practices C IAL – Deleveraging our balance sheet to accelerate net leverage IAL S reduction and support longer-term growth LINK TO RISKS: S T 1 2 5 6 7 8 9 10 11 12 T A – Working in close partnership with suppliers to identify supply A T T E chain improvements and recovery tactics E M M E – Supporting our colleagues with the higher cost of living through E N N T pay rises and industry-leading employee wellbeing initiatives T S S F F U Vehicle Electrification U R R T T H Transition away from the internal combustion engine (ICE) to a H E HOW WE’RE RESPONDING E R R INF range of technologies that use electricity to propel vehicles INF LINK TO STRATEGY: OR WHAT THIS MEANS FOR OUR BUSINESS 1 2 3 4 OR M – Signed our strategic supplier agreement with Lucid Group Inc M A A T (Lucid) for access to industry-leading technologies in a long-term T I I ON relationship whereby Lucid will supply select powertrain components ON for initial and future battery electric vehicles (BEV) models LINK TO RISKS: – Investing in new electrification skills across our business 2 3 4 5 7 8 9 12 – Project ELEVATION, a six-partner collaborative research and development project led by Aston Martin awarded £9 million – Preparing for our first plug-in hybrid elecric vehicle (PHEV), Valhalla, which is on course to enter production in 2024 Sustainability The need for businesses to act responsibly in order to protect the HOW WE’RE RESPONDING planet, their people and local communities WHAT THIS MEANS FOR OUR BUSINESS LINK TO STRATEGY: 2 3 4 – Continuing our Racing. Green. sustainability strategy with ambitious commitments to become a world-leading sustainable luxury automotive business LINK TO RISKS: – Investing in key initiatives and setting ambitious targets to achieve 2 3 4 7 8 12 improved biodiversity and net-zero manufacturing facilities – Enhancing our gender diversity aspiration, targeting women in 25% of leadership positions by 2025 and in 30% of leadership positions by 2030 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 23

STRATEGIC REPORT STAKEHOLDER ENGAGEMENT S TR A TE G I C Engaging our R E P O R stakeholders T G O We believe that stakeholder engagement is a key element VE of delivering a sustainable business and this activity is R NAN undertaken across our business at different levels of the Customers and Enthusiasts organisation. C Customers and enthusiasts are key to our brand and our business E A summary of who our key stakeholders are, what matters success. Their emotional connection with the brand enables us to build a strong and loyal customer community. to them, how we engage with them and the outcome of F I our engagement is set out on the following pages and is WHAT MATTERS TO THEM? NAN reinforced throughout this Report. Engagement at Board C level is highlighted with B. – Quality and safety of products IAL – Car design and performance S – Brand strength Our Section 172 statement which sets out how the Board T – Exclusivity and scarcity A has taken into account the interests of the Company’s T – Ultra-luxury customer experience E stakeholders in its decision-making is set out on pages 28-29. M – Cost of ownership E N – Environmental commitment T – Sense of community S HOW WE ENGAGE F – Bespoke customer communications and customer relationship U R management strategy T H – Investment in ultra-luxury customer journey E R Through effective engagement – Innovative and engaging content across our website and social INF media channels with our stakeholders we – Major brand campaigns, including our high-profile campaign on OR Sphere at the Las Vegas Grand Prix M can understand what matters A – Relaunch of Aston Martin’s luxury customer magazine T I – Bespoke customer events, such as car reveals and driving ON to them and what their experiences B priorities are.” – Dealership events th – Customer rallies and community gatherings, including our 110 anniversary celebration lap at the British Grand Prix and Aston Martin Arcadia event in Tokyo B – Formula One® hospitality and events programmes B – Executives actively meeting customers at leading luxury automotive events such as Pebble Beach and Goodwood Festival of Speed B – Global communications strategy, driving coverage across automotive and lifestyle media – Launch of ultra-exclusive, special products such as Valour, limited to 110 examples – Opening of first ultra-luxury flagship store in New York B OUTCOMES OF ENGAGEMENT – Strong Net Promoter Score amongst customers – More than 10,000 attendees for global DB12 events – Growing customer community on social media channels – Largest-ever Formula One® marketing programme at the Las Vegas Grand Prix – 60% of sales in 2023 were customers new to the brand ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 24

S S TR TR A A TE TE G G I I C C R R E E P P O O R R T T G G O O VE VE R R NAN NAN Dealer Network Suppliers and Other Partnerships C C E Our third-party dealerships are the direct contact point for our brand Our suppliers are fundamental to our business. Carefully chosen E to our customers. They enable us to maintain control over our brand partnerships provide us with an important source of technical F positioning and luxury customer service in a cost-effective way. expertise and brand enhancement. F I I NAN WHAT MATTERS TO THEM? WHAT MATTERS TO THEM? NAN C C IAL – Brand awareness and desirability – Responsible procurement, trust, ethics and open dialogue IAL S – Brand strength and Company support – Operational improvement S – Programmes to identify and generate sales opportunities – Competitiveness T T A – Increased customer satisfaction and retention targeting ultra-luxury – Strong relationships A T T E segment – Financial performance E M M E – Ultra-luxury product and product refresh – Building capability and expertise E N N T – Return on investment – Design and technical expertise T S S HOW WE ENGAGE HOW WE ENGAGE F – CEO and Board engagement to strengthen dealer relationships – Continuous engagement to create partners, not suppliers F U and support demand-driven strategy B – Strategic Cooperation Agreement with Mercedes-Benz AG securing U R R T – Strengthening and alignment of central and regional senior access to technologies critical to our long-term plans B T H H E management, supporting closer dealer relationship and – Strategic supply arrangement with Lucid to create industry-leading E R R INF communications ultra-luxury high performance electric vehicles B INF – Attendance (physical or virtual) at local dealer conferences held – Sponsorship of Aston Martin Aramco Formula One® Team to provide OR during the year B a direct global marketing platform targeting key customers and OR M – Rollout of dealer network programmes and systems to monitor enhancing the brand B M A A T performance aligned to growth opportunities across all sales and – Dedicated Supplier Quality Development team to manage supplier T I I ON after sales areas quality and performance ON – Implementation of Dealer Operating and new Corporate Identity – Cross functional team working closely with suppliers to resolve standards to drive dealers to consistent ultra-luxury behaviour issues – Introduce new models and maximise launch activities to fully – Commodity team structure established and being used effectively support ultra-luxury brand positioning – Supplier risk meeting cadence working cross-functionally to mitigate – Development of in-house training team to carry out in-dealer potential risks to production product training through the addition of a training content creator – Collaboration with suppliers to deliver innovation and economic – Continued development of digital platforms, supporting increased improvement engagement and elevated brand representation – Supplier scorecards to identify areas for performance improvement OUTCOMES OF ENGAGEMENT OUTCOMES OF ENGAGEMENT – Higher levels of customer engagement and satisfaction – Improved Responsible Procurement Policy to redefine our standards – Increased brand awareness driving greater level of customer and minimum expectations to suppliers enquiries, resulting in increased sales and market share – Implementation of a leading automotive sustainability platform to – Increased demand for Aston Martin products delivering more collate validated sustainability and governance data from suppliers. profitable business for dealers and Aston Martin, across all areas of The platform is a pivotal change to strategically embed the business Environmental, Social and Governance (‘ESG’) into Procurement due – Increased enquiries from ultra-luxury automotive groups wishing to diligence and sourcing activity, to enhance supplier data represent Aston Martin management and risk identification and subsequently enable collaboration with all suppliers to strengthen their sustainabililty performance and scoring. – Rollout of new 2024 Responsible Procurement Policy aims to help suppliers identify and improve their own sustainability goals – Strong relationships with Mercedes-Benz AG and Lucid ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 25

STRATEGIC REPORT STAKEHOLDER ENGAGEMENT CONTINUED S TR A TE G I C R E P O R T G O VE R NAN Our People Investors C Our people are the key to our success. Our performance depends on Continued access to capital is vital to the long-term performance of E our passionate, knowledgeable, experienced and creative people. our business. Our focus is to ensure investors understand our strategy, value drivers, performance, ambition and culture and for us to F I WHAT MATTERS TO THEM? understand their priorities. NAN – Personal development and career opportunities C – Health and safety WHAT MATTERS TO THEM? IAL – Engagement – Consistent delivery of the Company’s strategy S – Feeling listened to and valued – Financial performance relative to expectations T – Reward and benefits – Demonstrate that the Company is a responsible and effective A T – Equity, Diversity and Inclusion steward of capital E M – Environmental and social responsibility – Sustainability E N – Governance and transparency T HOW WE ENGAGE – Confidence in the leadership team S – Family open day in Gaydon – Stability and predictability – C-Suite roundtables with employees B F – Employee Town Halls B HOW WE ENGAGE U R – Dedicated Independent Non-executive Director to gather views – Webcasts, presentations and meetings by the Executive Chair, Chief T H of the workforce and report back to the Board B Executive OfÏcer, Chief Financial OfÏcer and the Investor Relations E R – Employee engagement survey team B INF – Consultation on employee benefits – Capital Markets Day at Gaydon headquarters for equity analysts and – Trade Union Business review large investors held in June, to showcase our strategic and financial OR – Health and Safety review progress and future priorities including electrification programme B M A – Listening sessions supporting our culture and to deep dive – Focused investor relations programme delivered both remotely and T I engagement topics B in person B ON – Aston Martin internal communications platform and AM – Retail shareholders engaged via direct communications, our website, People newsletter press activities, Annual Reports and general meetings B – Aston Martin’s Inclusion Network – For more information see Investor Engagement on page 90 – Local Health and Safety Committees – Local trade union meetings OUTCOMES OF ENGAGEMENT – Received support from largest shareholders along with strong OUTCOMES OF ENGAGEMENT appetite from institutional and retail investors for a £216m placing to – Several initiatives implemented including mental health training facilitate the early redemption of part of the Company’s debt and to and support for all employees support capital investments related to our electrification strategy – New peer recognition programme – Shareholders approved the related party transaction and issue of shares – New Code of Conduct for employees in respect of the strategic supply agreement with Lucid to create – Launched first ever all employee share plan industry-leading ultra-luxury high performance electric vehicles ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 26

S S TR TR A A TE TE G G I I C C R R E E P P O O R R T T G G O O VE VE R R NAN NAN Local Communities and Government and Regulators C C E Non-Governmental Organisations We engage with government and regulators given public policy E We aim to build positive relationships with local communities and and regulatory impacts on our business. F F I organisations interested in our business. I NAN WHAT MATTERS TO THEM? NAN – Compliance with regulations and the law C WHAT MATTERS TO THEM? C IAL – Trust and ethics – Sustainable operations IAL S – Safety – Employment and economic impacts S – Contribution to achieving public policy objectives T – Sustainability and non-financial performance including the T A A T environmental impact of our products T E HOW WE ENGAGE E M – Career opportunities for members of the local community M E – The Board is committed to proactive engagement with key E N – Local operational impact N T stakeholders in government at local, regional and national level B T S HOW WE ENGAGE – We aim to engage positively, constructively and consistently through S – Outreach programmes with local schools, including initiatives to various channels, including meetings, site visits, contributing to F public policy development and responding to consultations F U promote Science, Technology, Engineering and Mathematics and – We welcomed numerous senior politicians to Gaydon and St Athan U R R T careers in the automotive industry – We hosted a Parliamentary reception at the Speakers House T H – Philanthropic activities to contribute social and societal benefits H E attended by over 100 members of Parliament and UK Government E R R INF – Meetings, site visits and dialogue with Non-Governmental ministers B INF Organisations including organisations representing industry, OR social and environmental interests OUTCOMES OF ENGAGEMENT OR M – We were selected to be part of the UK Government’s Global M A OUTCOMES OF ENGAGEMENT A T Investment Summit to showcase British design and engineering T I I ON – 54 visits to local schools, colleges and universities, more than double excellence ON the total in 2022 – We worked with the UK Government to support the GREAT – Engagement on a range of matters including new opportunities for campaign, targeting UK export growth in the USA trade and growth, industry challenges, and Aston Martin’s essential contribution to local economies and communities ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 27

STRATEGIC REPORT SECTION 172 STATEMENT S TR A Key decisions and TE G I C R stakeholder engagement E P O R KEY STAKEHOLDERS T 1 2 3 4 5 Customers and enthusiasts  Dealer network  Our people  Investors  Suppliers and other partnerships  G O 6 Government and regulators  7 Local communities and Non-Governmental Organisations  VE R The Board is pleased to provide a statement that supports Section 172 of NAN the Companies Act 2006. This requires that Directors promote the success Investment by Geely C of the Company for the benefit of the members as a whole, taking into Section 172 matters A, C, E, F E account the interests of the Company’s stakeholders in its decision- making. A description of the Company’s key stakeholders, what matters to Stakeholders considered 4 5   F them and how the Group, including the Board engages with them is set I out on pages 24-27. Some of the key decisions that the Board made during NAN PRINCIPAL DECISION the year and how it took the interests of stakeholders into account in C making those decisions are set out on the following pages. The Board approved the issue of 28 million new ordinary shares at IAL 335 pence per share equating to £95m in cash. The Board further S approved the Company entering into a new Relationship Agreement T The Board recognises that there will sometimes be competing priorities A with Geely giving it the right to appoint a Shareholder T and interests between the stakeholder groups but aims to assess and E Representative Non-executive Director to the Board. M balance those interests to make decisions which are conducive to the long- E N term success of the business, in line with the Company’s reputation for high T standards of business conduct and the Company’s values. CONSIDERING OUR STAKEHOLDERS S Investors: Whilst the issue of shares to Geely was dilutive to our shareholders, the Board considered the transaction to be in the best F Further information on how Section 172(1) has been applied by U interests of shareholders as a whole for creation of long-term value. R the Directors can be found throughout the Report T H E Suppliers and partnerships: The relationship with Geely provides the R SECTION 172 MATTERS Company with the opportunity to better understand the strategic INF A. The likely consequences of any decision in the long term growth market that China represents, as well as the opportunity to OR Our strategy 32 access Geely’s range of technologies and components. M A Business model 30 T I B. The interests of the Company’s employees OUTCOME ON Geely’s stake increased from 7% to 16%. Our strategy 32 Investing in people and opportunity 50 A Relationship Agreement is in place between the Company and C. The need to foster the Company’s business relationships Geely with a Geely Shareholder Representative Non-executive with suppliers, customers and others Director being an important part of the strategic relationship . Our strategy 32 The Company’s relationship with Geely provides better access to Exporting success 54 understanding the growth market of China. D. T he impact of the Company’s operations on the community The relationship provides the potential for future use of Geely’s and the environment products. Tackling climate change 44 Creating a better environment 48 E. The desirability of the Company maintaining a reputation for high standards of business conduct Leadership and governance 82 This transaction enables the creation of Risk management 64 a long-term partnership with Geely and Delivering the highest standards 56 the exploration of joint technology F. The need to act fairly as between members of the Company synergies and new growth Investor engagement 90 opportunities” Leadership and governance 82 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 28

S S TR TR A A TE TE G G I I C C R R E E P P O O R R T T G G O O VE VE R R NAN NAN Placing and reduction of debt Strategic arrangement with Lucid C C E Section 172 matters A, C, E, F Section 172 matters A, B, C, D, E, F E Stakeholders considered 1 3 4 Stakeholders considered 1 4 5 6 F           F I I NAN NAN PRINCIPAL DECISION PRINCIPAL DECISION C C IAL The Board approved a £216m placing to facilitate the early The Board approved a strategic supply agreement with Lucid to IAL S redemption of the Group’s existing second lien split coupon notes. create electric vehicles and approved the issue of 28 million ordinary S T shares to Lucid as part of the consideration. T A A T CONSIDERING OUR STAKEHOLDERS T E E M Investors: The Company consulted with a number of its major CONSIDERING OUR STAKEHOLDERS M E E N shareholders prior to the share offering and respected the principles Customers: The alignment of Aston Martin’s iconic brand with N T T S of pre-emption through the allocation process insofar as possible. Lucid’s advanced technologies will re-define the customer S While the placing was structured as a non-pre-emptive offer within experience for future Aston Martin BEV products. the Company’s existing authorities from shareholders to minimise F F U cost and time to completion, the Company was pleased to provide Investors: Irrevocable undertakings were obtained from the other U R R T T H retail investors with the opportunity to participate in line with the strategic shareholders to confirm their support. In the interests of H E E R Pre-Emption Group guidelines. After consideration of the various the Company’s bondholders, a bond fairness opinion was sought R INF options, the Company concluded that the separate retail offer was before entering into the transaction. INF OR in the best interests of shareholders, as well as wider stakeholders in OR M the Company. Suppliers and partners: The Board approved a restated commitment M A with Mercedes-Benz AG. A T T I I ON Customers: The additional funding allows investment in product People: The Company needs to attract new talent and provide ON innovation for the benefit of our customers. training for new skills in electrification. The Board considered the impact on the Company’s defined benefit pension scheme and People: Supporting our electrification journey includes attracting concluded that it would have a minimal impact in the short term new talent and providing training for new skills in electrification. and over time a positive impact on the scheme. OUTCOME 58 million new ordinary shares were issued raising gross proceeds OUTCOME of £216m which allowed the Company to further deleverage its Lucid now holds a 3.44% shareholding in the Company. The balance sheet, provided an accelerated pathway towards achieving Company’s shareholders voted overwhelmingly in favour of the its net leverage ratio targets and supported capital investments transaction, with the share issue reducing the future cash costs to the Company. The agreement provides for a long-term relationship with related to the Company’s electrification strategy. Lucid and access to Lucid’s industry-leading technologies. The tremendous backing from our The supply agreement with Lucid is a largest shareholders along with the game changer for the future EV-led strong appetite from institutional and growth of Aston Martin.” retail investors demonstrates the continued confidence in Aston Martin and our future direction.” ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 29

STRATEGIC REPORT OUR BUSINESS MODEL S TR A Creating long-term sustainable value TE G I C R E P O R T Our value chain OUR ICONIC BRAND G O Product VE Engineering portfolio R NAN C E Performance-driven product In-house engineering expertise F I portfolio, covering a wide with well-established teams NAN segment of the ultra-luxury for Product Development, C high-performance market Innovation & Advanced IAL OUR RELENTLESS PURSUIT through core models and Technology, Vehicle S special editions Engineering, ICE Powertrain, T OF INNOVATION A ePowertrain, Software & T W E H Clear product advantage Electronics Technology, M Value Engineering and Project E A and desirability utilising the N T W Management & Planning T finest high quality materials, S enhanced through our Q by E P Aston Martin personalisation Teams work in a U service, driving average selling cross-functional structure F U T I price and margins to encourage a collaborative R T N way of working, greater H E Core product portfolio efÏciency and foster cutting R comprises of front-engine edge innovation with a strong INF focus on design sports cars synonymous with OR timeless styling, assertive M driving dynamics and Development processes A T OUR WORLD CLASS TALENT I exhilarating performance, and optimised to maximise ON an SUV range that boasts the cross carline component world’s fastest, most powerful sharing and drive sustainability, and best handling luxury SUV, thereby reducing complexity, DBX707, representing the very improving quality and delivering pinnacle of its segment engineering efÏciencies Exclusive limited volume special Network of strategic partners editions, which are typically to co-develop world-class oversubscribed and are highly technology and vehicle sought after amongst the systems, enhance quality and active global community of deliver technical excellence, automotive collectors and whilst building all our products OUR PROMISE, RACING. GREEN. enthusiasts in the UK OUR SUSTAINABLE APPROACH EMBEDDED ACROSS OUR BUSINESS MODEL READ MORE ON OUR STRATEGY ON PAGES 32 AND 33 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 30

S S TR TR A A TE TE G G I I C C R R E E P P O O R R T T G G O “No one builds O VE Operational Go-to- VE an Aston Martin R excellence market R NAN on their own” NAN C C E E F Quality organisation Intensity. Driven. brand identity Building cross-functional, F I I NAN transformed and strengthened positions the brand at the multi-project teams and NAN with highly experienced crosshairs of ultra-luxury and consistent one-team “Ways of C C IAL management hires high-performance; supported Working” across the business IAL S complementing a vastly by strategic marketing that encourage collaboration S T experienced team initiatives intended to drive and innovation across T A A T new levels of brand awareness, organisational boundaries T E E M New model launch function attract new customers, increase M E loyalty and exclusivity, and build E N transformed to lead the overall Building a performance driven, N T a stronger community T S build strategy and product ultra-luxury focused workforce, S introduction culture and mindset, harnessing Creating long-term Building on strong retail agility, efÏciency and speed sustainable value F distribution, and an ultra-luxury supported by a company-wide F U Culture of continuous for our stakeholders U R improvement embedded, blend of physical and digital performance bonus approach, R T T H enhancing efÏciency, cost and customer experience incorporating key financial and H E E R quality, including the utilisation quality targets Our business is focused on delivering R INF of a pilot line and additional Experienced dealer partners shareholder value and continuing our INF OR quality inspection points with knowledge of the Creating a fulfilling and purpose to create vehicles with the ultimate OR M throughout the build process ultra-luxury segment in all key rewarding experience that technology, precision and craftsmanship M A growth markets globally, with attracts and retains talent, that deliver thrilling performance and a A T T I I ON New practices adopted with the consistent application of our unlocking the potential of our bespoke, class-leading customer experience ON suppliers to optimise the supply corporate identity aligned to people to grow and deliver chain and mitigate disruption to ultra-luxury environment and excellence READ MORE ON OUR STAKEHOLDERS production product portfolio ON PAGES 24-27 Strengthening workforce skills, Renewed supply strategy in Leveraging a demand- knowledge and capability place to develop strategic and driven business model that through ongoing investment sustainable partnerships to strengthens the order book, in our people and training. improve supply chain resilience, supports stronger pricing Fostering engineering quality and performance dynamics and controls excellence and passion within inventory our corporate DNA We are committed to our ambition on tackling climate change and the Science Based Targets Initiative (‘SBTi’) Net-Zero Standards. We have a goal of becoming a world-leading sustainable ultra-luxury business as we develop alternatives to ICE with a blended drivetrain approach between 2025 and 2030, including PHEV and BEV, with a clear plan to have a line-up of electric sports cars and SUV. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 31

STRATEGIC REPORT OUR STRATEGY S TR A Delivering our TE G I C R growth ambitions E P O R T G O P O VE I U LLR Our iconic brand Our relentless R A NAN R pursuit of innovation S C E G S O F OATR U Underpinned by a strong and loyal customer base, and unique Create a breathtaking and comprehensive core portfolio across I A R NAN L TE position transcending ultra-luxury and high-performance, we front-engine, SUV and mid-engine, enhanced by a strategically S have a clear vision to become the world’s most desirable aligned Specials programme C G IAL I C ultra-luxury British performance brand S T A T H C – Impactful brand repositioning and Intensity. Driven. creative – Introduced the first of our next generation of sports cars, DB12, A I H T S YI identity heightened desirability and drove brand reappraisal, with to significant customer and media excitement, with Aston Martin’s E EV M E 60% of customers new to the brand and driving increased options first-ever in-house, bespoke infotainment system E A E N R M revenue – Delivered the most powerful production Aston Martin ever, T EN – Opened our first ultra-luxury flagship, Q New York, providing the the limited edition DBS 770 Ultimate S T th anniversary ultra-exclusive special, Valour, most sophisticated luxury specification experience globally – Launched our 110 S – Introduced new enhancements to our award-winning digital and delivered the stunning open cockpit DBR22, celebrating the F configurator, bringing luxury digital experiences to customers 10th anniversary of the Q by Aston Martin bespoke service U R – Completed a year-long global celebration of Aston Martin’s – Continued our enhanced technology agreement with T H th E 110 anniversary highlighting the brand’s past, present and future Mercedes-Benz AG R – Connected with dealers and customers globally through – Invested in electrification skills across our business that will be INF significant presence at the world’s most prestigious luxury used to electrify our model range with a blended drivetrain automotive event approach between 2025 and 2030 including PHEV and BEV, as OR – Aston Martin F1® Team continued to connect the brand with well as the use of alternative sustainable materials within vehicles M A engaged audiences, with market research indicating that 60% of – Established a landmark new supply agreement with world-leading T I luxury car buyers strongly agree they are more likely to buy an EV technologies company, Lucid ON Aston Martin because of its association with Formula One® – Intensified development of Valhalla supercar, via the use of – Delivered global activations across the 2023 Formula One® Formula One® methodologies, experience and technologies calendar, including the brand’s biggest-ever marketing campaign – Commenced our Aston Martin Valkyrie endurance motorsport for the Las Vegas Grand Prix programme – Introduced new additions to our world-class events sponsorship – Commenced production of Vantage, the second of our next portfolio, and new licensing and design collaborations generation sports car, unveiled in February 2024 F F ORO – Maintain strong visibility and brand desirability through strategic – Drive innovation and deliver products that create desire and 20C U high-profile product launches and campaigns progression, excitement, progressing our vision to have a world-class portfolio 2 S aligned with our ultra-luxury, demand-led strategy of models in the most significant luxury growth segments 4 – Further enhance our Q by Aston Martin bespoke personalisation – Work closely with Apple to introduce the next generation of + service, including strategic expansion of our ultra-luxury retail Apple CarPlay to models from 2024 strategy and new Q flagships – Successfully launch further next generation front-engine sports – Drive digital innovation including continual enhancements to our cars, and new iconic Specials digital estate and configurator – Commence production of our first PHEV, Valhalla, in 2024 – Drive maximum brand value and commercial benefit from our – Optimise product development processes to maximise unique association with Formula One®, including launch of the cross-carline component sharing, reduce complexity and drive new OfÏcial Safety Car of Formula One® engineering efÏciencies – Unleash commercial potential of Aston Martin through new – Continue work with our strong network of strategic partners to strategic licensing and partnerships activities co-develop world-class technology and vehicle systems, enhance – Capitalise on Aston Martin’s unique historic milestones quality, and maximise supply chain resilience, with efÏciencies LINK TO KPIS: 1 2 3 4 7 LINK TO KPIS: 1 2 7 8                   LINK TO RISKS: 2 5 9 11 LINK TO RISKS: 3 4 6 8 9 10 11 12                         ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 32

OUR KEY PERFORMANCE INDICATORS PRINCIPAL RISKS AND UNCERTAINTIES 1 Revenue 1 Macroeconomic and political instability     2 Wholesale volumes 2 Brand/reputational damage     3 Operating profit 3 Technological advancement     4 Adjusted EBITDA 4 Climate change     S 5 5 Liquidity S TR Net Debt   TR   6 Net Debt to adjusted EBITDA 6 Impairment of capitalised development costs A     A TE 7 Free cash flow 7 Compliance with laws and regulations TE     G 8 Quality 8 Talent acquisition and retention G I     I C C R 9 Health & Safety Accident Frequency Rate 9 Programme delivery R     E 10 E Achieving financial and cost-reduction targets   P P O 11 Cyber security and IT resilience O   R 12 R T Supply chain disruption T   G G O O VE P O VE I U R LL R Our promise, Racing. Green. Our world class talent R NAN A NAN R S C C E E F G S O F I OA TR U Deepen the integration of sustainability into our business and Attract and retain a talented and skillful team with experience I NAN A R NAN L TE improving our performance through our Racing. Green. strategy and understanding of the ultra-luxury automotive sector, C S focused on building a collaborative and cross-functional way C IAL G IAL I S C of working S T T A T A H C – Signed a strategic supplier agreement with Lucid for access to – Launched new Company Values of Unity, Openness, Trust, A T I H T E S YI industry-leading technologies in a long-term relationship Ownership and Courage through an internal and external E M EV M E E whereby Lucid will supply select powertrain components for campaign, with training delivered for 1,972 employees and E N A E N T R M initial and future BEV models 181 contractors T S EN – Project ELEVATION, a six-partner collaborative research and – Supporting our colleagues with the higher cost of living through S T development project led by Aston Martin received £9 million pay rises approved by the Remuneration Committee S – Continued our commitment to the SBTi – Held Aston Martin’s first-ever Leadership Conference, aligning F F U – Achieved carbon neutral manufacturing at our Gaydon and senior management on the Company’s strategy and direction U R R T St Athan facilities – Made changes to our organisational structure and operational T H H E – The Company’s sustainability strategy Racing. Green. now improvements focused on enhancing quality and overall E R R INF expands to offsetting Scope 1 and Scope 2 emissions through efÏciencies INF Gold Standard verified projects – Increased employment at our Gaydon headquarters, with the OR – Made progress in reducing our environmental impact, following creation of more than 100 jobs in our manufacturing facility OR M business-wide initiatives to reduce CO emissions from its supporting the launch of our next generation of sports cars M 2 A A T manufacturing processes and wider supply chain – Continued to invest in our world-class team supporting our T I I ON – Continued our commitments to only use renewable electricity at strategic pillars, including the appointment of a Chief Industrial ON Gaydon and St Athan manufacturing facilities, and installed solar OfÏcer, Chief Procurement OfÏcer, and BEV Chief Engineer panels at Newport Pagnell – Expanded our employee communications and listening – Started the decarbonisation of our UK supply chain with the use programme including the staging of regular all-company of Bio-LNG trucks Town Halls and leadership roundtables – Held employee Open Weekend at Gaydon headquarters, attended by more than 10,000 employees, family and friends F F O O – Work towards net-zero manufacturing facilities and a 30% – Strengthen workforce skills, knowledge and capability and R 2C U reduction in supply chain emissions by 2030 fostering engineering excellence and passion within our corporate 0 S – By 2025 we aim to achieve zero single-use plastic packaging from DNA 2 4 + our manufacturing facilities and to reduce our water consumption – Increase the culture of inclusion leveraging the Aston Martin by 15% compared to 2019 values, building awareness through education and measuring – Enhancing our gender diversity aspiration, targeting women in through qualitative data 25% of leadership positions by 2025 and in 30% of leadership – Improve colleague engagement and alignment by becoming a positions by 2030 “Great Place to Work” by 2025 – Improving biodiversity at our manufacturing facilities – Continue building a workplace and culture where all our people feel connected to Aston Martin’s purpose, where they have a voice and can develop to reach their full potential LINK TO KPIS: 3 4 8 9 LINK TO KPIS: 8 9             LINK TO RISKS: 1 3 4 7 9 10 11 12 LINK TO RISKS: 5 8 9 10 11                           ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 33

STRATEGIC REPORT KEY PERFORMANCE INDICATORS S TR A Precision measurement TE G I C R meets performance E P O R T G O A REMINDER OF Financial VE Non-financial R OUR STRATEGIC REVENUE – £’m WHOLESALE VOLUMES OPERATING PROFIT/ ADJUSTED EBITDA NAN NET DEBT – £’m NET DEBT TO FREE CASHFLOW – £’m QUALITY – CUSTOMER HEALTH & SAFETY – PILLARS – units (LOSS) – £’m – £’m ADJUSTED EBITDA – PERCEPTION AUDIT ACCIDENT FREQUENCY C “adjusted leverage” (CPA) – quality score RATE – (AFR) 1,632.8 6,620 6,412 305.9 E 6,178 1,381.5 F I 1,095.3 NAN 1. 190.2 C our iconic 137.9 IAL brand (76.5) S T A (111.2) T E M E (141.8) N T 3 2 1 3 2 1 3 2 1 3 2 1 S 2 2 2 2 2 2 2 2 2 2 2 2 0 0 0 0 0 0 0 0 0 0 0 0 2 2 2 2 2 2 2 2 2 2 2 2 F U Description Description Description Description R Description Description Description Description Description T 2. Revenue measures the This measures sales from Operating profit/(loss) This measures our H Net debt measures the Adjusted leverage This measures the This is an internal measure The AFR is the number of E appeal of our brands, our the Company to its dealers measures our actual, underlying operating R amount of total measures our indebtedness generation and usage of of the quality of each accidents per 100 workers our relentless INF completed car at the end of pursuit of ability to build and sustain and direct customers reported operating profitability, stripping out indebtedness at the compared to one year’s cash, including the impact and measures work related profitability the impact of adjusting of all investment and the production line brand equity and increase Company, net of any cash worth of profitability recordable injuries or Definition items from operating OR innovation market share through and cash equivalents financing decisions illnesses (as defined by the product expansion Number of vehicles, Definition profit/(loss) and interest, M Definition Definition Occupational Health and including Specials, sold by Net revenue, less Cost A Definition Net debt divided by Definition The CPA score is tax, depreciation and T Safety Administration I Definition the Company to its dealers of Sales, less all other amortisation ON Total value of all current adjusted EBITDA over the Cash inflow/(outflow) from determined through the Revenue is defined in note 2 and direct customers operational expenses and non-current last 12 months (See note 34 operating activities plus the audit of each car at the point (OHSA)) that it has completed all the (See note 4 of the Financial Definition cash used in investing of the Financial Statements Remuneration linkage borrowings, inventory of the Financial Statements) Definition production processes and is Remuneration linkage Represents 7.5% of the Statements) Adjusted EBITDA is defined repurchase arrangements Remuneration linkage activities (excluding The AFR measure is in note 34 of the Financial intercepted as it would be None Group scorecard of Remuneration linkage and lease liabilities, less None interest received) plus calculated by the number performance measures for None Statements cash and cash equivalents interest paid in the year, handed over to the outbound of work related recordable 3. Target the annual bonus Remuneration linkage and cash not available for Target less interest received transport company injuries or illnesses (defined The Company expects to Target Represents 50% of the short-term use (See note Below 1.0x in 2027/28 (See note 34 of the Remuneration linkage by the OHSA definition) Our promise, generate revenue of Target Not applicable Group scorecard of 34 of the Financial Financial Statements) Quality measures, including divided by the number of High single-digit % growth Statements) hours worked over a Racing. Green. c. £2.5bn by 2027/28 performance measures for Remuneration linkage CPA score, represent 15% 12-month period ending on in 2024 with continued the annual bonus Remuneration linkage Represents 20% of the of the Group scorecard of 31 December each year focus on value None Group scorecard of measures for the annual Target performance measures in bonus Remuneration linkage The Company expects to Target the annual bonus None. However for 2024 generate c. £800m None Target health and safety will adjusted EBITDA by Target Ambition for continuous represent 5% of the Group 2027/28 The Company expects to year-on-year improvement scorecard of measures for be sustainably free in CPA scores for GT/ the annual bonus 4. cashflow positive from sports cars and DBX H2 2024 Target * Significant progress made our world but stretching target level Ambition for continuous not fully achieved. year-on-year reduction class talent ** One of two targets achieved LINK TO STRATEGY: LINK TO STRATEGY: LINK TO STRATEGY: LINK TO STRATEGY: LINK TO STRATEGY: LINK TO STRATEGY: LINK TO STRATEGY: LINK TO STRATEGY: LINK TO STRATEGY: 1 2 1 2 1 2 1 2 1 2 1 2 1 2 1 3 4 1 2 4                       ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 34

S S TR TR A A TE TE G G I I C C R R E E P P O O R R T T G G O O FinancialVE Non-financial VE R R REVENUE – £’mWHOLESALE VOLUMES OPERATING PROFIT/ADJUSTED EBITDA NANNET DEBT – £’mNET DEBT TO FREE CASHFLOW – £’m QUALITY – CUSTOMER HEALTH & SAFETY – NAN – units(LOSS) – £’m– £’m ADJUSTED EBITDA – PERCEPTION AUDIT ACCIDENT FREQUENCY C “adjusted leverage” (CPA) – quality score RATE – (AFR) C E 891.6 6.5 ** * NM 1.01 E 814.3 765.5 F F I I NAN NAN 4.0 (123.2) C C IAL 2.7 0.53 IAL S 0.40 S T T A A T T E (298.8) E M M E E N (360.0) N T 3 2 1 3 2 1 T S 3 2 1 2 2 2 3 2 1 2 2 2 3 2 1 S 2 2 2 0 0 0 2 2 2 0 0 0 2 2 2 0 0 0 2 2 2 0 0 0 2 2 2 0 0 0 2 2 2 2 2 2 2 2 2 F F U U DescriptionDescriptionDescriptionDescription RDescriptionDescription Description Description Description R T T Revenue measures the This measures sales from Operating profit/(loss) This measures our HNet debt measures the Adjusted leverage This measures the This is an internal measure The AFR is the number of H E E appeal of our brands, our the Company to its dealers measures our actual, underlying operating Ramount of total measures our indebtedness generation and usage of of the quality of each accidents per 100 workers R INF completed car at the end of INF ability to build and sustain and direct customersreported operating profitability, stripping out indebtedness at the compared to one year’s cash, including the impact and measures work related profitabilitythe impact of adjusting of all investment and the production line brand equity and increase Company, net of any cash worth of profitability recordable injuries or Definitionitems from operating OR OR market share through and cash equivalents financing decisions illnesses (as defined by the product expansionNumber of vehicles, Definitionprofit/(loss) and interest, MDefinition Definition Occupational Health and M including Specials, sold by Net revenue, less Cost ADefinitionNet debt divided by Definition The CPA score is A tax, depreciation and T Safety Administration T I I Definitionthe Company to its dealers of Sales, less all other amortisationONTotal value of all current adjusted EBITDA over the Cash inflow/(outflow) from determined through the ON Revenue is defined in note 2 and direct customersoperational expenses and non-current last 12 months (See note 34 operating activities plus the audit of each car at the point (OHSA)) that it has completed all the (See note 4 of the Financial Definition cash used in investing of the Financial StatementsRemuneration linkage borrowings, inventory of the Financial Statements) Definition production processes and is Remuneration linkageRepresents 7.5% of the Statements)Adjusted EBITDA is defined repurchase arrangements Remuneration linkageactivities (excluding The AFR measure is in note 34 of the Financial intercepted as it would be NoneGroup scorecard of Remuneration linkageand lease liabilities, less None interest received) plus calculated by the number performance measures for NoneStatementscash and cash equivalents interest paid in the year, handed over to the outbound of work related recordable Targetthe annual bonusRemuneration linkage and cash not available for Target less interest received transport company injuries or illnesses (defined The Company expects to TargetRepresents 50% of the short-term use (See note Below 1.0x in 2027/28(See note 34 of the Remuneration linkage by the OHSA definition) generate revenue of TargetNot applicableGroup scorecard of 34 of the Financial Financial Statements) Quality measures, including divided by the number of High single-digit % growth Statements) hours worked over a c. £2.5bn by 2027/28performance measures for Remuneration linkage CPA score, represent 15% 12-month period ending on in 2024 with continued the annual bonusRemuneration linkage Represents 20% of the of the Group scorecard of 31 December each year focus on value None Group scorecard of measures for the annual Target performance measures in bonus Remuneration linkage The Company expects to Target the annual bonus None. However for 2024 generate c. £800m None Target health and safety will adjusted EBITDA by Target Ambition for continuous represent 5% of the Group 2027/28 The Company expects to year-on-year improvement scorecard of measures for be sustainably free in CPA scores for GT/ the annual bonus cashflow positive from sports cars and DBX H2 2024 Target * Significant progress made but stretching target level Ambition for continuous not fully achieved. year-on-year reduction ** One of two targets achieved LINK TO STRATEGY:LINK TO STRATEGY:LINK TO STRATEGY:LINK TO STRATEGY:LINK TO STRATEGY:LINK TO STRATEGY:LINK TO STRATEGY:LINK TO STRATEGY: LINK TO STRATEGY: 12121212 1 2 1 2 1 2 1 3 4 1 2 4                    ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 35

STRATEGIC REPORT CHIEF FINANCIAL OFFICER’S STATEMENT SS TRTR AA Significant progress towards TETE GG II CC R R near- and medium-term EE PP OO RR TT financial targets GG OO VEVE RR NANNAN CC EE FF II NANNAN CC IALIAL CHIEF FINANCIAL hroughout 2023 Aston Martin continued to execute its financial goals, OFFICER S S with significant progress towards our near- and medium-term financial G TT targets. During a year in which we commenced the transition to our AA U Y TT next generation of sports cars, our full year financial results are largely EE MM T in line with expectations, driven by robust volumes, records ASPs, EE O NN gross margin improvement and an enriched product portfolio. TT SS D As we approached the final quarter of the year on track to deliver FF FFER Tagainst full year guidance, delays in the initial ramp up phase of the UU RR new DB12 marginally impacted on volume performance. Despite this, TT A HH we delivered a strong Q4 performance with a record gross margin, EE RR L and adjusted EBITDA, supported by DB12 and the ongoing Specials INF INF programmes. 2023 free cash outflow of £360m reflects anticipated higher year-on-year capital expenditure primarily related to the OROR development of our next generation of sports cars and electrification MM AA programme, as well as the timing of DB12 and Valour deliveries at TT II the end of the year, with related receivables unwinding in January 2024. ONON As we transition to the full range of our next generation of sports cars and develop our electrification programme, investment in the product pipeline and innovation continues, ensuring Aston Martin delivers the ultra-luxury high-performance products in the future that our customers expect. In August we completed a £216m share placing to accelerate net leverage reduction and support longer term growth, and in Through continuous engagement with our stakeholders during the consideration of a wide range of factors, we redeemed 50% of the outstanding second lien notes in November 2023. At the end of 2023 our net leverage ratio reduced to 2.7x from 4.0x in 2022. Further year I was pleased to see the to this, we expect to undertake the refinancing exercise of our development of both new and outstanding debt during the first half of 2024. existing strategic relationships as we progress to deliver long-term value to all of our shareholders.” ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 36

SS S TRTR TR AA A TETE TE GG G II I CC C R R R EE E PP P OO O RR R TT T GG G OO O VEVE VE RR R NANNAN NAN CC C EE E FF F II I NANNAN NAN CC C IALIAL IAL S S S TT T AA A TT T EE E MM M EE E NN N TT T SS S FF F UU U RR R TT T HH H EE E RR R INF INF INF OROR OR MM M AA A TT T II I ONON ON ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 37

STRATEGIC REPORT FINANCIAL REVIEW S Through continuous engagement with our stakeholders during the – FY 2023 core ASP of £188k, up 6% (FY 2022: £177k) TR year, I was pleased to see the development of both new and existing – Q4 2023 core ASP of £196k, up 7% (Q4 2022: £184k) A strategic relationships as we progress to deliver long-term value to all • Higher year-on-year Specials volumes with consistent delivery TE G I of our shareholders. This included increased investment by Geely of Aston Martin Valkyrie (87 compared to 80 in FY 2022) C Holding Group to become our third largest shareholder as part of a R including deliveries of the first Aston Martin Valkyrie Spiders, E new relationship agreement, a new strategic supply arrangement with DBR22 and Valour limited edition models: P O Lucid to propel Aston Martin’s high-performance electrification – FY 2023 total ASP of £231k, up 15% (FY 2022: £201k) R strategy, and increased investment by Yew Tree Consortium, – Q4 2023 total ASP of £255k, up 20% (Q4 2022: £213k); T demonstrating their continuing confidence and belief in the future reflecting richer mix of Aston Martin. – Significant increase in gross profit and margin progressing towards G O longstanding c. 40% target in FY 2024/25; reflecting benefits from VE Overall, 2023 has been a significant year of financial and strategic the ongoing portfolio transformation, driving favourable pricing R progress for Aston Martin. I am pleased with the steps we have made dynamics, product mix and volumes: NAN towards achieving our near- and medium-term financial targets, which • FY 2023 gross profit increased by 42% to £639m (FY 2022: C are underpinned by the exciting product transformation that we are £451m); gross margin at 39% (FY 2022: 33%) E undertaking. I thank all the teams that have supported the business • Q4 2023 gross profit increased by 63% to £268m to deliver our objectives this year and I’ll continue to work closely (Q4 2022: £165m); gross margin at 45% (Q4 2022: 31%) F with the Board to ensure we deliver value to all of our stakeholders. – FY 2023 adjusted EBITDA increased 61% to £306m (FY 2022: I NAN £190m) translating to an adjusted EBITDA margin increase of DOUG LAFFERTY 490 basis points to 18.7%; primarily driven by higher gross profit, C CHIEF FINANCIAL OFFICER IAL partially offset by 26% increase in adjusted operating expenses, including reinvestments into brand and marketing activities S T and inflationary impacts on the cost base, while recognising A T £11m relating to upward revaluation of investment in AMR E M GP Holdings Limited E N – FY 2023 operating loss decreased by 22% to £111m (FY 2022: T S £142m loss), including £78m year-on-year increase in depreciation 2023 has been a significant and amortisation; Q4 2023 operating profit increased to £34m year of financial and strategic F (Q4 2022: £7m) U R progress for Aston Martin.” – Net cash inflow from operating activities of £146m T H (FY 2022: £127m); Free cash outflow of £360m (FY 2022: E R £299m outflow) reflecting: INF • Q4 free cash outflow of £63m (Q4 2022: £37m inflow) impacted by timing of DB12 and Valour deliveries in December 2023 with OR related receivables unwinding in January 2024 M A 2023 FULL YEAR FINANCIAL SUMMARY • Higher year-on-year capital expenditure of £397m (FY 2022: T I – Delivered robust wholesale volumes during a period of ongoing ON £287m), primarily related to new models and next generation product portfolio transformation: sports car developments, as well as development of the • FY 2023 wholesale volumes increased 3% to 6,620 (FY 2022: Company’s electrification programme including the initial $33m 6,412); driven by 14% Sport/GT growth, reflecting growth in (£27m) payment to Lucid Group, Inc. (Lucid) relating to the new DB12 and DBS 770 Ultimate volumes in H2’23, despite slight strategic supply agreement delays to the initial production ramp up of DB12 • Net cash interest payments of £109m (FY 2022: £139m) • As expected, Q4 2023 wholesale volumes increased 54% • Working capital outflow of £86m (FY 2022: £15m outflow) sequentially compared with Q3 2023; decreased 6% to 2,222 reflecting timing of December deliveries and the unwinding of compared to prior year period (Q4 2022: 2,352) due to elevated customer deposits on delivery of Special wholesales, partially Q4 2022 wholesales offset by a reduction in inventory and payables – FY 2023 revenue increased 18% to £1,633m reflecting continued – Year-end cash of £392m (2022: £583m), following the redemption execution of our growth strategy; enhanced positioning of our of 50% of the outstanding second lien notes in November 2023 ultra-luxury brand and enriched product portfolio driving growth – Net debt of £814m (2022: £766m), including a positive £61m in volumes and record average selling prices (ASPs): impact of non-cash FX revaluation of US dollar-denominated debt • Strong pricing dynamics in the core portfolio and favourable as sterling strengthened against the US dollar during 2023; mix from DBS 770 Ultimate, DBX707, V12 Vantage Roadster disciplined strategic delivery supported ongoing deleveraging and new DB12: with net leverage ratio improving to 2.7x (2022: 4.0x) ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 38

S S TR FINANCIAL REVIEW Aston Martin continues to operate a demand-led approach, aligned TR A Wholesale and revenue analysis with its ultra-luxury high performance strategy. Prior to the initial A TE Number of vehicles FY 2023 FY 2022 Change Q4 2023 Q4 2022 Change TE G production ramp up delays of DB12, retail volumes (retails) were G I I C Total wholesale 6,620 6,412 3% 2,222 2,352 (6%) ahead of wholesale volumes (wholesales) for the year. However, C R Core (excluding 6,469 6,323 2% 2,139 2,313 (8%) R similar to the profile experienced at the end of 2022, and as a direct E Specials) E P result of the timing of DB12 deliveries in December 2023, wholesales P O O R were temporarily ahead of retails at the end of the year. Following R T By region: the unwinding of this position, the Company expects to see retails T UK 1,141 1,110 3% 367 416 (12%) outpace wholesales in FY 2024 as it continues the transition to its next Americas 2,037 1,980 3% 620 828 (25%) G 1 generation of sports cars. G O EMEA ex. UK 1,994 1,508 32% 727 628 16% O VE APAC1 1,448 1,814 (20%) 508 480 6% Geographically, wholesale volumes remained well balanced across all VE R R NAN By model: regions. The Americas and EMEA excluding UK were the largest NAN regions in FY 2023, collectively representing 61% of total wholesales, C Sport/GT 3,530 3,104 14% 1,440 920 57% C E SUV 2,939 3,219 (9%) 699 1,393 (50%) driven by strong demand for DBX707, DBS 770 Ultimate and DB12. In E Specials 151 89 70% 83 39 113% our home market, the UK, wholesales grew 3% year-on-year, driven by DBS 770 Ultimate and DB12 deliveries. Finally, FY 2023 wholesale F F I Note: Sport/GT includes Vantage, DB11, DB12, and DBS; 1 2022 numbers restated. volumes in APAC were impacted by lower sales in China, which I NAN NAN decreased by 47% compared to 2022, which more than offset growth C Total wholesales of 6,620 increased by 3% year-on-year (FY 2022: in wholesale volumes including DBX707 and DBS 770 Ultimate outside C IAL IAL of China. China continues to be a market where we see significant 6,412), driven by high demand for DBS 770 Ultimate and DB12, despite S expected impacts of the ongoing product portfolio transition. This opportunity for long-term growth. Wholesale volumes in APAC S T T A included 151 Specials in FY 2023 (FY 2022: 89), comprised of a mature excluding China were up 12% year-on-year (FY 2022: 10%). A T T E E M cadence of 87 Aston Martin Valkyries (FY 2022: 80), as well as DBR22 M E and initial Valour deliveries, demonstrating the Company’s unique Revenue by category E N N T £m FY 2023 FY 2022 % Change T S ability to operate at the very highest levels of the luxury automotive Sale of vehicles 1,531.9 1,291.5 19% S segment and attract new customers and collectors to the brand. Sale of parts 80.0 70.8 13% F Servicing of vehicles 9.8 9.3 5% F U As expected, total wholesales of 2,222 units in Q4 2023 increased by U R Brand and motorsport 11.1 9.9 12% R T 54% compared to Q3 2023, though decreased by 6% year-on-year, T H Total 1,632.8 1,381.5 18% H E due to elevated Q4 2022 SUV wholesales following the resolution of E R R INF supply chain and logistics disruptions in Q2 and Q3 2022. INF FY 2023 revenue increased by 18% to £1.6bn (FY 2022: £1.4bn), OR primarily due to strong wholesale ASP growth, with both core and OR SUV wholesales remained robust in FY 2023, with ASPs benefiting M from the planned change in mix to DBX707 in line with the Company’s total ASP reaching record levels and, to a lesser extent, due to higher M A A T ultra-luxury high-performance strategy. The DBX707 is now clearly wholesale volumes. Total ASP of £231k (FY 2022: £201k) increased T I I ON established as the benchmark in the ultra-luxury SUV segment and by 15% year-on-year, reflecting richer mix including deliveries of the ON th full range of Aston Martin Valkyrie models and the 110 anniversary represented 71% of SUV wholesales in FY 2023 (FY 2022: 52%), with volumes increasing 25% in 2023 compared with the prior year. SUV Special, Valour, and DBR22, as well as higher core ASPs. Core ASP wholesales decreased both on a FY 2023 and Q4 2023 year-on-year of £188k (FY 2022: £177k) increased by 6% year-on-year driven by strong pricing and favourable mix dynamics, despite some foreign basis (9% and 50% decreases, respectively), reflecting portfolio transition and the previously mentioned elevated Q4 2022 wholesales exchange headwinds. following disruptions earlier in 2022. Q4 2023 revenue increased by 13% to £593m (Q4 2022: £524m), Q4 2023 Sport/GT wholesales of 1,440 units increased by 57% driven by strong ASP growth. Total Q4 2023 ASP of £255k (Q4 2022: (Q4 2022: 920), reflecting considerable contribution from DB12. £213k) increased by 20%, reflecting 113% increase in Special edition wholesale volumes. Q4 2023 core ASP of £196k (Q4 2022: £184k) The temporary peak in DB12 wholesales reflected partial delays in increased by 7%, driven by strong pricing and favourable mix dynamics Q3 2023 deliveries due to supplier readiness and EE platform integration issues. from new DB12 and exclusive DBS 770 Ultimate, and despite foreign exchange headwinds in Q4 2023. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 39

STRATEGIC REPORT FINANCIAL REVIEW CONTINUED S Summary income statement and analysis The operating loss of £111m compared to a £142m loss in the prior TR £m FY 2023 FY 2022 Q4 2023 Q4 2022 year. The 22% decrease year-on-year was primarily driven by: A Revenue 1,632.8 1,381.5 593.3 524.3 TE G Cost of sales (993.6) (930.8) (324.9) (359.8) I – Higher year-on-year gross profit as described above C Gross profit 639.2 450.7 268.4 164.5 R E Gross margin % 39.1% 32.6% 45.2% 31.4% These factors were partially offset by: P O R 1 (718.9) (568.6) (213.0) (154.2) T Adjusted operating expenses – A £78m year-on-year increase in depreciation and amortisation, of which depreciation & 385.6 308.1 119.4 100.1 primarily related to cadence of Specials delivery, DBS 770 Ultimate amortisation 2 and DB12 launch, as well as full year DBX707 charges G Adjusted EBIT (79.7) (117.9) 55.4 10.3 – Increased investment in brand and product launches such as O Adjusting operating items (31.5) (23.9) (21.3) (3.7) VE Operating (loss)/profit (111.2) (141.8) 34.1 6.6 V12 Vantage, DBS 770 Ultimate, DB12, Valhalla and Valour, and R marketing activities at events such as the Goodwood Festival NAN of Speed, Pebble Beach, and Las Vegas Grand Prix Net financing (expense)/income (128.6) (353.2) (14.1) 9.7 C of which adjusting financing (36.5) (20.1) (8.2) (39.1) – Higher general costs, including inflationary pressures E (expense)/income (Loss)/profit before tax (239.8) (495.0) 20.0 16.3 Net financing costs of £129m were down from £353m in 2022, F comprising a positive non-cash FX revaluation impact of £61m, as I Tax credit/(charge) 13.0 (32.7) 13.2 (26.0) sterling strengthened against the US dollar (FY 2022: negative NAN (Loss)/profit for the period (226.8) (527.7) 33.2 (9.7) £156m). Adjusting operating items of £32m (FY 2022: £24m) C 1,2 IAL Adjusted EBITDA 305.9 190.2 174.8 110.4 predominantly related to ERP implementation costs and one-off legal S Adjusted EBITDA margin 18.7% 13.8% 29.5% 21.1% expenses. The £37m net adjusting finance charge (FY 2022: £20m) T Adjusted (loss)/profit (171.8) (451.0) 49.5 was due to movements in fair value of outstanding warrants, and A T before tax1 59.1 financing expenses associated with the partial repayment of the E M second lien notes. E N EPS (pence) (30.5) (124.5) T Adjusted EPS (pence) (21.4) (114.1) S The loss before tax was £240m (FY 2022: £495m loss), an improvement of £255m year-on-year and the loss for the period was £227m 1 Excludes adjusting items. F 2 Alternative Performance Measures are defined in note 34 on page 198. (FY 2022: £528m), an improvement of £301m year-on-year, both U R impacted by the significant reduction in net financing costs related T H In FY 2023, gross profit of £639m increased by £189m, or 42% to the US dollar-denominated Senior Secured Notes. E R (FY 2022: £451m). This translated to a gross margin of 39%, expanding INF by 650 basis points compared to the prior year (FY 2022: 33%). The tax credit on the adjusted loss before tax was £13m, and the total effective tax rate for the period to 31 December 2023 was 5.4% which OR The gross margin performance reflected benefits from the ongoing is predominantly due to recognising deferred tax on accelerated M portfolio transformation strategy, driving favourable pricing A capital allowances and UK tax losses, as well as movements in deferred T dynamics, product mix and volumes, which was particularly strong in I tax on the amount of interest the Group can deduct for tax purposes. ON Q4 2023 with a gross margin of 45% (Q4 2022: 31%). Throughout FY 2023 this was partially offset by higher manufacturing, logistics and The weighted average share count at 31 December 2023 was other costs, as well as FX headwinds. The Company continues to target over 40% gross margin from future products, aligned with 748 million, following the placing of new ordinary shares to the Company’s ultra-luxury strategy. Lucid Group, Inc. in November and to Geely International (Hong Kong) Limited in May. 66 million shares in relation to the warrants remain Adjusted EBITDA increased by 61% year-on-year to £306m in FY 2023 outstanding and are exercisable until 2027, giving an adjusted EPS of (21.4)p (2022: (114.1)p). (FY 2022: £190m), or by £116m. This translated to an adjusted EBITDA margin of 19% (FY 2022: 14%), a year-on-year expansion of approximately 490 basis points. The year-on-year increase in adjusted EBITDA was primarily due to higher year-on-year revenue and gross profit, as described above, partially offset by 26% increase in adjusted operating expenses including reinvestments into brand and marketing activities and inflationary impacts on the cost base, while recognising £11m relating to upward revaluation of investment in AMR GP Holdings Limited. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 40

S S TR Cash flow and net debt £m 31-Dec-23 31-Dec-22 TR £m FY 2023 FY 2022 Q4 2023 Q4 2022 A Loan notes (980.3) (1,104.0) A TE Cash generated from 145.9 127.1 114.5 184.0 TE G Inventory financing (39.7) (38.2) G I operating activities I C Bank loans and overdrafts (89.4) (107.1) C R Cash used in investing activities (396.9) (286.9) (121.9) (73.5) R Lease liabilities (IFRS 16) (97.3) (99.8) E (excl. interest) E P Gross debt (1,206.7) (1,349.1) P O Net cash interest paid (109.0) (139.0) (55.8) (73.7) O R Cash balance 392.4 583.3 R T Free cash (outflow)/inflow (360.0) (298.8) (63.2) 36.8 Cash not available for short term use – 0.3 T Cash inflow/(outflow) 182.2 456.2 (80.6) (210.5) Net debt (814.3) (765.5) from financing activities G (excl. interest) G O O VE (Decrease)/increase (177.8) 157.4 (143.8) (173.7) Cash as at 31 December 2023 includes the remaining £106m of VE R in net cash proceeds from August’s share placing, following the redemption R NAN Effect of exchange rates (13.1) 7.0 (7.6) (14.8) of a portion of the outstanding second lien notes in November, and NAN on cash and cash equivalents £95m proceeds from the new shares issued to Geely International C Cash balance 392.4 583.3 392.4 583.3 C E (Hong Kong) Limited in May. E Net cash inflow from operating activities was £146m (FY 2022: £127m). Net debt of £814m (2022: £766m), including a positive £61m impact of F F I I NAN The year-on-year change in cash flow from operating activities was non-cash FX revaluation of US dollar-denominated debt as the sterling NAN primarily driven by a £116m increase in adjusted EBITDA, as explained strengthened against the US dollar during the year. Disciplined C above, and mostly offset by a working capital outflow of £86m C IAL strategic delivery and EBITDA growth supported ongoing IAL (FY 2022: £15m outflow). The largest driver was an £82m increase in S deleveraging with net leverage ratio improving to 2.7x (2022: 4.0x). S receivables (FY 2022: nil movement), driven by timing on the delivery T T A of DB12 and Specials, as well as higher volumes in December 2023. A T T E E M This was partially offset by a decrease in inventories of £12m (FY 2022: M E E N £78m increase) due to reduced work-in-progress and finished goods, N T T S and a £51m increase in payables (FY 2022: £82m) due to higher S production in December 2023. Due to the high volume of Specials delivered in Q4 2023, there was a £66m decrease (FY 2022: £18m F F U decrease) in deposits held, as balances on accounts unwound in the U R R T quarter, partially offset by ongoing Valour deposit collections. T H H E E R R INF Capital expenditure was £397m in 2023, an increase of £111m year- INF on-year, with investment focused on the future product pipeline, OR particularly the next generation of sports cars, as well as development OR M of the Company’s electrification programme including a $33m M A A T T I (£27m) payment to Lucid in Q4 2023 relating to the new strategic I ON ON supply agreement. Free cash outflow of £360m in 2023 compared to a £299m outflow in 2022, is due to an increase in capital expenditure as detailed above, partially offset by the improvement in cash flow from operating activities. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 41

STRATEGIC REPORT ENVIRONMENTAL, SOCIAL AND GOVERNANCE S TR A Building a sustainable TE G I C R ultra-luxury business E P O R T G O VE R Our journey building a world-leading sustainable ultra-luxury automotive business continues. It is a key NAN focus of our corporate strategy and the central objective of our sustainability strategy, Racing. Green. C E Racing. Green. is built on five priority areas that reflect Aston Martin’s approach to sustainability aligned with the United Nation’s Sustainable Development Goals, and a deep understanding of the priorities that F our customers, employees and other stakeholders care about. I NAN These five areas are tackling climate change; creating a better environment; investing in people C IAL and opportunity; exporting success; and delivering the highest standards. S T A T E M E N T S 2023 highlights F U R T H E R INF OR M 23.3% 11.2% 63.6% A T I Fall in CO emissions per car manufactured Decrease in total energy consumption Waste recycled in 2023, compared ON 2 e)* between 2022 and 2023 (MWh) with 58.8% in 2022 (tonnes) in 2023 compared with 2022 (tCO2 100% ~£2bn ~£2m Renewable electricity powering Planned investment in advanced technologies Sale value of vehicles donated all manufacturing sites over the next 5 years, with investment shifting by Aston Martin to auction for charity to BEV 50% 89.07 54 Increase in the proportion of women Biodiversity score for Gaydon, Visits to local schools, colleges and universities, in our early careers intake compared with 88.87 in 2022 more than double total in 2022 24.5% Improvement in Accident Frequency Rate compared with 2022 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 42

2023 TARGETS AND GOALS S S TR TR A A TE 01 02 03 04 05 TE G G I TACKLING CREATING INVESTING IN EXPORTING DELIVERING I C C R CLIMATE A BETTER PEOPLE AND SUCCESS THE HIGHEST R E CHANGE ENVIRONMENT OPPORTUNITY STANDARDS E P P O O R SEE PAGE 44 SEE PAGE 48 SEE PAGE 50 SEE PAGE 54 SEE PAGE 56 R T T Transforming products Minimising impacts Employee wellbeing Working with government Embracing industry – Next generation Plug-In – Zero single-use plastic – Target zero accidents – Continue to work with best practice G Hybrid Electric Vehicle packaging waste from – Continue to deliver the UK Government G O – Continue commitment O VE (PHEV) commencing our manufacturing industry-leading to showcase the very to the Science Based VE R delivery in 2024 facilities by 2025 initiatives to support best in advanced Targets initiative (‘SBTi’) R NAN – First Battery Electric – Zero waste to landfill employee wellbeing British engineering – Continue commitment NAN Vehicle (BEV) targeted from our manufacturing and design worldwide to the Task Force on C for launch in 2025 operations Advancing diversity – Maintain engagement C E Climate-related E – Fully electrified sports – 15% reduction in water and inclusion with government to – Women in 25% of Financial Disclosures cars and SUV portfolio consumption at our support sustainable leadership positions (‘TCFD’) F by 2030 manufacturing growth across the UK – Understand and F I I NAN operations by 2025 by 2025 and in 30% automotive sector, NAN Transforming production engage in emerging (compared with 2019) of leadership positions including expansion areas of sustainability C – Carbon neutral by 2030. C IAL manufacturing facilities Maximising sustainable – Increase the culture of of the UK-based best practice IAL S – Net Zero manufacturing materials inclusion by leveraging supply chain Pioneering leadership S – Help achieve the UK T T A facilities by 2030 – Continue to work with the Aston Martin Values Government’s aim to – Understand and engage A T T E – 100% use of renewable supply chain partners to – Improve workplace increase UK exports in emerging areas of best E M electricity in our enable the use of more engagement and culture, practice such as the M E to £1tn E N manufacturing facilities sustainable materials and secure accreditation Science Based Targets N T T S – Reduce CO emissions as a Great Place to Work® Network for Nature S 2 Boosting biodiversity from our manufacturing – Improve Biodiversity by 2025 and the Taskforce operations by 2.5% on Nature-related F at our manufacturing Growing talent and F U year-on-year* Financial Disclosures U R facilities raising aspirations R T – Reduce CO emissions (‘TNFD’) T 2 H – Sustain new apprenticeship H E intensity and energy E R recruitment R INF consumption per car – Update skills and training INF by 2.5% year-on-year* OR – Implement ISO 50001 to support transition to OR electric vehicle production M Energy Management M A Systems at key – Continue commitment A T T I to promoting STEM I ON manufacturing ON facilities by 2025 – 30% reduction in supply chain CO emissions 2 by 2030 (compared to 2020) – Net zero across our supply chain by 2039. * Scope 1 CO emissions 2 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 43

STRATEGIC REPORT ENVIRONMENTAL, SOCIAL AND GOVERNANCE CONTINUED SS TRTR AA TETE GG II CC R R EE PP OO RR TT GG OO VEVE RR NANNAN CC 01 EE FF II NANNAN Tackling climate change CC IALIAL S S TT AA Introduction Highlights TT EE The automotive industry continues on a MM EE journey of transformation driven by the NN TT expectations of customers, employees, 23.3% SS investors and policymakers focused on fall in CO emissions per car 2 the need to tackle climate change. We manufactured in 2023 compared with FF continued to act on climate change, 2022 (tCO e)* UU 2 RR TT focussing on two key areas: HH EE – Transforming products. RR – Transforming production. INF INF 11.2% In 2023, key activities included: decrease in total energy consumption OROR between 2022 and 2023 (MWh) MM – Progressing the Electric Vehicle AA TT II transformation programme, ONON supported by strategic partners. – Action taken to reduce emissions ~£2bn from manufacturing operations and investment in advanced technologies supply chain including the completion over the next 5 years, with investment of the UK Government’s mandatory shifting to battery electric vehicles Energy Saving Opportunities Scheme (‘ESOS’) which requires large UK UN Sustainable Development Goals businesses to identify ways to conserve energy and decrease CO 2 emissions. – Work on establishing a pathway to reduce CO emissions and achieve our 2 * Scope 1 CO emissions net-zero targets, intensifying our 2 focus on Scope 3 emissions. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 44

SS S TRTR TRANSFORMING PRODUCTS BUSINESS CONTEXT TR AA The automotive industry continues a journey of transformation driven A TETE 2023 TARGETS AND GOALS PROGRESS by the expectations of customers, employees, investors and TE GG G II Next generation Plug-In Hybrid – First PHEV mid-engined supercar, I CC policymakers focused on the need to tackle climate change. We C R R Electric Vehicle (‘PHEV’) Valhalla, on course to enter understand society’s expectations of the need for urgent action to R EE commencing delivery in 2024 production in 2024. E PP limit the average rise in global temperatures to 1.5°C by 2100 as P OO – First BEV now targeted for launch O RR highlighted by the United Nations Framework Convention on R TT First Battery Electric Vehicle in 2026. Climate Change. T – 205 colleagues completed (‘BEV’) targeted for launch in 2,377 hours of EV-related GG 2025 instructor-led training. Governments at both a national and local level are continuing to G OO – Aston Martin approved to deliver introduce legislation to reduce emissions from transport to address O VEVE Institute of the Motor Industry- both climate change and local air quality. Around the world, many VE RR Electrified line-up of sports R NANNAN cars and SUVs by 2030 approved Electric Vehicle (‘EV’) governments are introducing legislation which will end the sale of NAN Level 2 and 3 training in-house. internal combustion engine vehicles (‘ICEs’) in the coming years. For CC – Project ELEVATION, a six-partner C EE collaborative research and example, the UK Government will require all new vehicles sold in E development project led by Aston the UK to be zero emission at the tailpipe by 2035. Martin awarded £9m supporting FF F II Our 2023 materiality assessment indicates that climate change I NANNAN development of innovative remains a top priority for stakeholders. Climate change-related NAN modular BEV platform. CC risks are also deemed capable of causing a significant financial impact C IALIAL over the medium to long-term, centring around the EV transition IAL S S TRANSFORMING PRODUCTION and supply chain. These are risks that the Company continues to S TT T AA 2023 TARGETS AND GOALS PROGRESS manage as it works to seize the opportunities presented by vehicle A TT T EE electrification. E MM Carbon Neutral – Aston Martin Lagonda Ltd & Aston M EE manufacturing facilities Martin Works Ltd certified by the E NN N TT Carbon Trust as carbon neutral for T SS 2022 in accordance with PAS 2060. S Policy and standards All manufacturing operations at In 2023 we introduced our new Code of Conduct which reflects our FF Gaydon, St Athan and Newport F UU values in action, particularly in areas with key ethical or legal U RR Pagnell locations carbon neutral. R TT T HH – Certification based on offsetting considerations, marking what we stand for and what we expect H EE E RR Scope 1 and Scope 2 emissions from each other. Outlining the key policies and behaviours that R INF INF INF through Gold Standard verified everyone should follow, the Code is intended to guide the way that the projects. business and our people operate. We believe that high integrity, OROR Net-Zero manufacturing – Solar Photovoltaic (‘PV’) delivers high performance and includes managing our environmental OR MM M AA facilities by 2030 generation installation at Newport commitments. A TT T II I ONON Pagnell complete. Our Environment Policy ensures that we comply with all relevant ON 100% use of renewable – All manufacturing facilities at electricity in our Aston Martin continue to be legislation and commits to ongoing reductions in our carbon manufacturing facilities powered by 100% renewable footprint as well as assessing through a risk-based approach the electricity since 2019. threats and opportunities of climate change to the Company. Reduce CO emissions from our – 16.8% reduction in CO emissions 2 2 manufacturing operations by from our manufacturing For more information see 2.5% year -on-year* operations compared with 2022. www.astonmartinlagonda.com/sustainability/policies. Reduce CO emissions intensity – 23.3% reduction in CO emissions 2 2 and energy consumption per intensity and energy consumption car by 2.5% year-on-year* per car manufactured compared with 2023. Implement ISO 50001 Energy – Work ongoing. Management Systems at key manufacturing facilities by 2025 30% reduction in supply – Responsible Procurement Policy chain CO emissions by 2030 signed by 94% of production and 2 (compared to 2020) indirect suppliers. – 8 bio-LNG trucks introduced by DHL Supply Chain to replace diesel trucks supporting the Company’s supply chain. Net-zero across our supply – Work ongoing. chain by 2039 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 45

STRATEGIC REPORT ENVIRONMENTAL, SOCIAL AND GOVERNANCE CONTINUED S MANUFACTURING FACILITIES TR Our manufacturing facilities are powered by 100% renewable A electricity, using supplies backed by Renewable Energy Guarantees of Certified TE G I Origin. However, to reduce our dependency on the national electricity C distribution network and increase the supply of renewable electricity R carbon E to others, we continued to advance renewable electricity generation P O projects across our sites. In 2023, we completed the installation of R Solar PV generation at our historic works at Newport Pagnell. We neutral T continue to progress our plans for solar PV generation at St Athan and During 2023, Aston Martin Lagonda Ltd and Aston Martin Works Gaydon. An agreement to secure access to the national electricity G distribution network to enable the St Athan Solar PV project has Ltd were certified by the Carbon Trust as carbon neutral for 2022 O taken longer than expected and discussions with the local planning in accordance with PAS 2060. This covered several sites including VE R authority are continuing. main manufacturing sites at Gaydon and St Athan, heritage works NAN at Newport Pagnell, and multiple additional support sites utilised for supply chain operations and prototype testing. C We continue to invest in advanced energy management systems E as we aim to achieve ISO 50001 accreditation for all our key manufacturing facilities. Carbon neutral status was achieved by offsetting Scope 1 and Scope 2 emissions through Gold Standard verified projects that F I NAN are making a difference in tackling climate change. Working in partnership with Climate Impact Partners, specialists in carbon C market solutions for climate action, Aston Martin’s offsetting IAL commitment is financing projects that reduce CO emissions S 2 now, while supporting the transition to a low carbon global T A T economy. Specifically, the Company is proud to support a wind E M power portfolio project in Turkey, which has seen more than 120 E N wind turbines installed, generating approximately 575,000 MWh T of clean electricity every year to a nation heavily reliant on natural S gas and oil, with infrastructure severely damaged by devastating earthquakes in 2023. F U R T H E R INF OR Living Wall M A T I A new Living Wall installed in ON Gaydon and planted with 30 varieties of plants will act as a natural CO sink in support of 2 our biodiversity efforts. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 46

S S TR Total greenhouse gas emissions (tCO2e) TR A A TE 2020 2021 2022 2023 TE G GHG Emissions Under Scope 1 9,200.67 8,705.35 8,831.22 7,327.74^ G I I C C R GHG Emissions Under Scope 2 – Location based 7,545.86 7,366.72 6,011.58 6,289.76^ R E GHG Emissions Under Scope 2 – Market based 687.28 192.38 251.63 178.38^ E P P O GHG Emissions Under Scope 3 6,620.37 6,446.74 11,187.29 8,478.32 O R R T UK Total Gross Scope – Scope 1 & Scope 2 – Location based 16,642.17 15,984.15 14,779.22 13,416.81^ T Rest of World Total Gross Scope – Scope 1 & Scope 2 – Location based 104.36 101.82 182.37 200.68^ Total Gross Scope – Scope 1 & Scope 2 – Location based 16,746.53 16,085.97 14,842.80 13,617.49^ G G O ^ Values assured by ERM CVS O VE VE R R NAN Greenhouse gas emissions per unit NAN 2020 2021 2022 2023^ C Manufactured Volume (units) 3,343 5,778 6,404 6,587 C E Total Scope 1 Emissions per unit 2.75 1.51 1.45 1.11 E Total Scope 2 Emissions per unit 2.26 1.27 0.92 0.95 F ^ Values assured by ERM CVS F I I NAN NAN C Total energy consumption within organisation (MWh) C IAL 2020 2021 2022 2023^ IAL S Electricity 33,973.01 32,144.15 30,764.90 30,073.08 S T T A Gas 43,574.51 44,796.00 40,518.26 32,255.10 A T T E Diesel 14.92 4.34 530.81 512.86 E M M E Gasoline 2,712.98 1,779.25 4,717.14 5,121.31 E N N T LPG 563.60 43.52 371.28 367.50 T S UK Total Consumption 80,839.02 78,573.14 76,313.45 67,658.44 S Rest of World Total Consumption – 194.11 588.95 671.41 F Total 80,839.02 78,767.26 76,902.39 68,329.85 F U U R ^ Values assured by ERM CVS R T T H H E 2022 data has been updated following additional work carried out by the Carbon Trust. E R R INF The fall in Scope 1 CO emissions between 2022 and 2023 was principally driven by the use of actual instead of estimated data on gas consumption. INF 2 During 2023 we have developed our full scope 3 inventory using a baseline of 2022. The results of this data are included on page 27 of the Sustainability Report. Further work will be carried out to update our scope 3 emissions total for 2023; this and our scope 3 emissions for 2024 will both be reported in our 2024 sustainability report, published in 2025. OR OR M M A A T GREENHOUSE GAS EMISSIONS Scope 2 – Includes indirect emissions from the generation of purchased T I I ON Our greenhouse gas (‘GHG’) emissions reported are in accordance energy. Emissions are reported using the location-based methodology ON with the Greenhouse Gas Protocol Corporate Standard for the year and market-based methodology. Location based methodology refers to 31 December 2023. The intensity ratio is measured as tonnes of to the average emissions intensity of grids on which energy equivalent per car manufactured. CO2 consumption occurs (using mostly grid-average emission factor data). A market-based methodology refers emissions from electricity that METHODOLOGY companies have purposefully chosen (or their lack of choice). We calculate our GHG emissions in the following way: Scope 3 – Includes emissions from business air travel, management Scope 1 – Includes emissions of gas, petrol on site, diesel used for car miles, personal car mileage, employee commute figures, water emergency heating and firing pumps, refrigerant refill, LPG and fuel consumed, and supply chain logistics from our main logistics provider. from Company pool cars. Figures are obtained through utility bills, direct from suppliers and through the Company’s internal systems. For further information on methodology, including emission factors used to calculate the scope 1, 2 and 3 figures, please see our 2023 Sustainability Report. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 47

STRATEGIC REPORT ENVIRONMENTAL, SOCIAL AND GOVERNANCE CONTINUED SS TRTR AA TETE GG II CC R R EE PP OO RR TT GG OO VEVE RR NANNAN CC EE 02 FF II NANNAN Creating a better environment CC IALIAL S S TT AA Introduction Highlights TT EE Our natural world continues to endure MM EE the impact of human activity in many NN TT areas, such as plastic waste pollution, 63.6% SS water scarcity, and habitat destruction. of waste recycled in 2023, compared Businesses are expected, by society, to with 58.8% in 2022 (tonnes) FF UU help combat these challenges. As well as RR TT tackling climate change, our work to HH EE create a better environment centres on: RR – Minimising impacts. 100% INF INF of wood used in vehicles Forest – Maximising sustainable materials. OROR – Boosting biodiversity. Stewardship Council (‘FSC’) certified MM AA TT II In 2023, key activities included: ONON – Starting a dedicated project 2 to eliminate single-use plastic biodiversity management plans for packaging waste. Gaydon and St Athan – Continuing research into the use of more sustainable materials in UN Sustainable Development Goals our products. – Completing 3-year biodiversity management plans for Gaydon and St Athan. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 48

SS S TRTR MINIMISING IMPACTS WASTE TR AA The management of Aston Martin’s waste is governed by a stringent A TETE 2023 TARGETS AND GOALS PROGRESS regulatory framework and our facilities at Gaydon, Wellesbourne and TE GG G II Zero single-use plastic – Dedicated project underway to I CC Wolverton Mill are certified to ISO 14001:2015, an international C R R packaging waste from our identify opportunities to eliminate standard for environmental management systems. We continue to R EE manufacturing facilities by single-use plastic packaging E PP focus on reducing waste as part of a wider commitment to minimising P OO 2025 waste. O RR our impact on the environment and are working with suppliers to help R TT Zero waste to landfill from our – 0.002% (0.009 tonnes) of waste us achieve zero single-use plastic packaging waste by 2025. T manufacturing operations was discharged to landfill GG 15% reduction in water – Exploring further approaches to In 2023, the volume of waste generated by the Company increased G OO by 46.8%. This increase was the result of several strategic waste and O VEVE consumption at our asset-use optimisation and options VE RR manufacturing operations by for rainwater harvesting. other one-off projects such as asset replacement. In 2023, the R NANNAN 2025 (compared with 2019) – Water consumption 11.4% higher Company’s recycling rate was 63.6%, rising from 58.8% in 2022. NAN in 2023 compared to 2019. CC C EE Waste (Tonnes) 2020 2021 2022 2023 E BOOSTING BIODIVERSITY Total Waste 2,830.97 4,155.60^ Total Waste* 394.39 858.62 2,366.21 4,075.81^ FF 2023 TARGETS AND GOALS PROGRESS F II I NANNAN Improve Biodiversity at our – Biodiversity management plans Reused* 8.72 6.40 –** –** NAN Recycled* 243.82 380.60 1,391.44 2,591.61^ CC manufacturing facilities now in place for Gaydon and C IALIAL Recovered – Waste to IAL St Athan. Energy* 141.85 471.62 972.88 1,478.51^ S S Incineration – Not recovered* - - 0.54*** 5.64^ S TT T AA Non-hazardous landfilll - 0.09 A TT MAXIMISING SUSTAINABLE MATERIALS T EE Hazardous Waste (tonnes)^^ E MM M EE 2023 TARGETS AND GOALS PROGRESS Recovered 504.74 887.39 E NN N TT Continue to work with supply – Specialists investigating further Incineration-Not recovered* 0.85 0.00 T SS chain partners to enable options such as recycled carbon Treatment 0.50 0.05 S the use of more sustainable fibre from Formula One cars and Recycled 189.55 318.39 FF materials bio-based leather. F UU – Using low carbon leather to create ^ Total waste values per waste stream ERM CVS assured. Assurance does not cover U RR R TT landfill. T HH ultra-luxury interiors. ^^ Breakdown of 2022 & 2023 hazardous waste data included to show proportion of H EE hazardous in reported total waste figures. E RR R INF INF * Data excludes Newport Pagnell. See page 73 of the Sustainability Report. INF BUSINESS CONTEXT ** No data available due to transition of new waste contractor. *** Re-stated following further data review. OROR As well as tackling climate change, creating a better environment OR MM means reducing our use of water, creating less waste, embracing the Notes: M AA In 2023, we expanded the scope of our waste reporting and introduced new processes A TT circular economy, and enhancing biodiversity. T II to optimise the management of waste streams including temporary contractor waste I ONON from facilities and maintenance projects. We also undertook several strategic waste ON Our natural world continues to endure the impacts of human activity projects at key sites including at Wolverton Mill and St Athan to address legacy waste on those sites. Several improvements projects were implemented, including at in many areas, such as plastic waste pollution, water scarcity, and Wolverton Mill, where we installed a new racking system which meant large volumes of habitat destruction. Businesses are, rightly, expected to help combat metal waste were sent for scrap. We undertook large scale building projects at Gaydon, which created additional waste, this included an updated VIP reception area, an 2 these challenges and Aston Martin is no exception. overhaul of the Gaydon canteen and work to improve around 5,000m of ofÏce space in Gaydon. The weight of clinical (sanitary) waste has been estimated using an established waste management method. In 2023, a small amount of waste went to landfill. A review of waste management and Policy and standards controls will be carried out in 2024. Our Environment Policy ensures that we comply with all relevant WATER legislation and commit to ongoing reductions in energy, water and We aim to reduce water consumption by 15% by 2025 (compared other resource consumption in the manufacture and operation of our with 2019). We continue to investigate a range of measures to vehicles and an ongoing reduction in our carbon footprint. deliver savings, including rainwater harvesting systems. Reported For more information see water consumption in 2023 remained broadly stable at 66,004.9 m3, www.astonmartinlagonda.com/sustainability/policies. a slight decrease compared to 2022. 3 Water use (m ) 2020 2021 2022 2023^ 34,477.65 64,681.40 66,279.99 66,004.90 ^ Values assured by ERM CVS Notes: Water is supplied by water utility companies after abstraction via licence from the Environment Agency. The used water is discharged after treatment by the relevant water utility company via a foul sewer for which consents for various discharges to be maintained. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 49

STRATEGIC REPORT ENVIRONMENTAL, SOCIAL AND GOVERNANCE CONTINUED SS TRTR AA TETE GG II CC R R EE PP OO RR TT GG OO VEVE RR NANNAN CC 03 EE FF II NANNAN Investing in people and opportunity CC IALIAL S S TT AA Introduction Highlights TT EE ‘Investing in people and opportunity’ MM EE covers a range of areas that are critical NN TT to the Company’s human and social 32% SS capital, and therefore important for its of early careers intake made up of success and sustainability. To achieve women, compared to 21% in 2022. FF our objectives, we focus on: UU RR TT – Employee wellbeing. HH EE – Advancing equity, diversity and 20% RR inclusion. INF INF – Growing talent and raising aspirations. increase in number of hours dedicated to training, rising to 23,515 hours in 2023. OROR MM In 2023, key activities included: AA TT II – Completing the procurement of a new ONON safety management system. ~£2m – Inclusion training was delivered as sale value of cars donated by Aston part of 110 Aston Martin Values Martin to help raise money for charity. training sessions. – STEM engagement activity UN Sustainable Development Goals programme more than doubled, with over 50 visits to local schools, colleges and universities in 2023. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 50

SS S TRTR EMPLOYEE WELLBEING BUSINESS CONTEXT TR AA ‘Investing in people and opportunity’ covers a range of areas that are A TETE 2023 TARGETS AND GOALS PROGRESS critical to the Company’s human and social capital, and therefore TE GG G II Target zero accidents – Successful procurement of new I CC important for its success and sustainability. Ensuring health and safety C R R safety reporting system. of employees is paramount. We want everyone who works at Aston R EE – In 2023, the Company’s Accident E PP Martin to get home safely every day. P OO Frequency Rate (‘AFR’) improved O RR R TT by 25%, falling from 0.53 Maximising employee wellbeing, promoting mental health, ensuring a T recordable incidents per 100 employees in 2022 to 0.40. diverse and inclusive workplace, and delivering industry-leading GG Continue to deliver industry- – Several initiatives implemented training are all key to strengthening business performance, including G OO by enhancing the Company’s appeal to socially conscious consumers. O VEVE leading initiatives to support including mental health training Supporting relevant and local charities and communities is important VE RR employee wellbeing and support for all employees. R NANNAN for a socially responsible business like ours. NAN CC ADVANCING DIVERSITY AND INCLUSION C EE The results of our 2023 materiality assessment highlighted the E 2023 TARGETS AND GOALS PROGRESS growing importance of ‘Employee engagement, talent retention, Women in 25% of leadership – 2023 early careers intake 37% welfare, and benefits’ among stakeholders. This shift in priorities FF F II positions by 2025 and in 30% of women compared with 21% in compared to 2022 indicates that stakeholders are placing greater I NANNAN leadership positions by 2030 2022. emphasis on how a company treats its employees and the impact it NAN CC – Various initiatives delivered has on their wellbeing. The materiality assessment also indicated C IALIAL including International Women’s the potential for employee engagement, talent retention, welfare IAL S S Day. S and benefits to have potentially significant financial impacts over the TT T AA Increase the culture of – Inclusion immersion part of 110 short- to medium-term. A TT T EE inclusion by leveraging the Aston Martin Values training E MM M EE Aston Martin Values sessions. E NN N TT – 1,972 employees and 181 Policy and standards T SS contractors trained in inclusive S behaviours, totalling 4,306 training At Aston Martin we expect everyone to comply with the law, act with hours. integrity and do what is right. In 2023, we introduced our new Code FF F UU of Conduct which reflects our values in action, particularly in areas U RR Improve workplace – New peer recognition programme. R TT T HH engagement and culture, and – Employee engagement survey with key ethical or legal considerations marking what we stand for H EE E RR secure accreditation as a Great completed and survey insight and what we expect from each other. Outlining the key policies and R INF INF Place to Work® by 2025 driving action. behaviours that everyone should follow, the Code is intended to guide INF – All directors participating in new the way that the business and our people operate. We believe that OROR Director-level development high integrity, delivers high performance. OR MM programme, ‘Accelerate’. M AA A TT – All first line managers engaged in T II I ONON new training programme, ‘Ignite’. Our Code of Conduct incorporates many of our key policies including: ON Diversity and Inclusion, Health and Safety, Anti-Bribery, Gifts and Hospitality and Confidential Reporting. GROWING TALENT AND RAISING ASPIRATIONS 2023 TARGETS AND GOALS PROGRESS For more information see Sustain new apprenticeship – 19 apprentices recruited www.astonmartinlagonda.com/code of conduct. recruitment compared with 20 in 2022. – 12 graduate trainees recruited compared with 23 in 2022. Update skills and training to – Aston Martin approved to deliver support transition to electric Institute of the Motor Industry- vehicle production approved Electric Vehicle (‘EV’) safety training in-house. – 2,377 hours of EV-related training. – EV-related training delivered to 205 colleagues, compared with 149 in 2022. Continue commitment – Visits to schools, colleges and to promoting Science, universities more than doubled Technology, Engineering and from 20 in 2022 to 54 in 2023. Mathematics (STEM) ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 51

STRATEGIC REPORT ENVIRONMENTAL, SOCIAL AND GOVERNANCE CONTINUED S APPROACH TR We are committed to a workplace and culture where our people feel A connected to Aston Martin’s purpose, that they have a voice, are TE G I listened to and will receive equal treatment to develop and reach their C full potential irrespective of their age, disability, gender reassignment, R E marriage and civil partnership, pregnancy and maternity, race, sex and P O sexual orientation, identity or expression, or any other characteristic R protected by law. In 2023, we continued to focus on delivering our T Equity, Diversity and Inclusion (‘EDI’) strategy. Activities during 2023 included events and engagement coinciding with Black History Month, G International Women’s Day, National Inclusion Week, Pride and O Transgender Week. VE R NAN C Our vision. E F I Our values. NAN C We aim to create a fulfilling and rewarding experience that IAL enables our people to flourish. S T At the core of our values is one single A Our People Strategy has been developed to accelerate progress T E in creating and sustaining a world-class employee experience. guiding tenet: No one builds an M E We deliver our strategy through three strategic pillars: N Aston Martin on their own. Our T Organisation, Culture, and Personal and Career Development. S Our EDI approach encompasses all these pillars. values are: Unity, Openness, Trust, Ownership and Courage.” F At the core of our values is one single guiding tenet: No one builds U R T an Aston Martin on their own. Our values are: Unity, Openness, H E Trust, Ownership and Courage. These values set the tone for how R we do things and the culture we want to establish. This is supported INF by our New Code of Conduct, which sets out a decision-making tool for situations where colleagues aren’t sure whether they would OR M be doing the right thing. A T I ON I AM Inclusion ed I A Our Inclusion Network meets monthly to support employees and seeks to rac M b Ge m n break potential stigma across the organisation by talking about issues that E de affect our employees. We have five dedicated strands within our network AM r I who focus on different areas of equity, diversity, and inclusion. The strands are I AM Gender, I AM Pride, I AM Ability, I AM Embraced, I AM Well. Our network and our strands are voluntary groups that are made up of people who are passionate about inclusion, challenging how things are done and supporting I y people to have a voice. AM lit bi I AM Embraced – Addresses racial I AM Well – Focus on physical and Pr A id M justice, multiculturalism and bias mental health, self-care, stress e I AM Inclusion A management I I AM Pride – Connects LGBTQ+ employees, celebrates pride events I AM Ability – Support for disability, I l and advocates for equality and chronic illness and neurodivergence AM Wel acceptance I AM Ability – Focus on gender identity, equality, work-life balance ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 52

S S TR Employees by gender (as at 31 December 2023)^ TR A A TE Male Female % Female TE G Senior management team 10 0 0.0% G I I C C R Senior leadership team 75 14 15.7% R E Other leadership 288 63 18.0% E P P O Other employees 1,995 387 16.3% O R R T Total 2,368 464 16.4% T G Employees by region (as at 31 December 2023)^ G O Male Female % Female O VE Asia Pacific 24 24 50.0% VE R R NAN EMEA 62 9 12.7% NAN UK 2,253 419 15.7% C Americas 29 12 29.3% C E Total 2,368 464 16.4% E F F I I NAN Average employee tenure by gender (as at 31 December 2023) (Years) NAN Male Female C C IAL 6.7 4.9 IAL S S T T A Average employee turnover by gender during 2023 (%) A T T E Male Female Company E M M E 8.2% 10.1% 8.6% E N N T T S New hire employees in 2023 S Male Female F F U 475 132 U R R T T H Note: Data by gender and region is shown for 2,832 permanent Company employees only ^ Values assured by ERM CVS H E E R R INF INF OR GENDER PAY GAP OR M The difference between men and women’s average pay (expressed M A A T as a percentage of the men’s pay) was a mean pay gap of 10.3% and T I I ON a median pay gap of 5.2% in 2023, favouring men. These have ON increased very slightly compared to 2022 (mean pay gap of 9.9% and median pay gap of 4.9%, also favouring men). Our mean pay gap is largely due to the make-up of the senior team (which includes significantly more men) and working patterns, particularly in Production roles, where shifts (that more men than women choose to work) command shift premium and overtime payments. We are working to improve gender equality which will contribute to narrowing the gap, with the ultimate aim to close it completely. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 53

STRATEGIC REPORT ENVIRONMENTAL, SOCIAL AND GOVERNANCE CONTINUED SS TRTR AA TETE GG II CC R R EE PP OO RR TT GG OO VEVE RR NANNAN CC 04 EE FF II NANNAN Exporting success CC IALIAL S S TT AA Introduction Highlights TT EE Aston Martin sells its world-class MM EE products in more than 50 countries NN TT worldwide and represents the very best 83% SS of British advanced engineering and of total wholesale cars exported design. As we continue to serve as a flag FF UU bearer for British industry and exporters, RR TT we are committed to supporting the 53 HH EE wider success of UK exporters and the RR UK automotive industry by working with countries with Aston Martin dealerships INF INF government. OROR MM In 2023, key activities included: ~1.3bn AA TT II – High-profile product launch events estimated value of wholesale cars ONON worldwide. exported in 2023 – Support for the UK Government’s GREAT campaign featuring their UN Sustainable Development Goals ambassador, Katherine Jenkins OBE. – Parliamentary reception attended by over 100 parliamentarians and UK Government ministers. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 54

SS S TRTR WORKING WITH GOVERNMENT TR AA A TETE 2023 TARGETS AND GOALS PROGRESS TE GG G II Continue to work with the – Supported the UK Government’s I CC C R R UK Government to showcase GREAT campaign featuring R EE the very best in advanced campaign ambassador, Welsh E PP P OO British engineering and design singer, Katherine Jenkins OBE. O RR R TT worldwide – Worked with the UK Consulate T Help achieve the UK in New York to support a VIP Government’s aim to increase celebration of the coronation of GG HM King Charles III. G OO UK exports to £1 tn per year – Delivered high-profile product O VEVE by 2030 launch events worldwide. VE RR R NANNAN – 5,515 wholesale cars exported NAN in 2023. Global CC Maintain engagement with – Parliamentary reception hosted in C EE government to support the Speaker’s House attended by E sustainable growth across over 100 parliamentarians and UK Investment Summit FF the UK automotive sector, Government ministers. F II I NANNAN including expansion of the UK- – Selected to showcase British In November, Aston Martin was delighted to be part of the UK NAN based supply chain engineering and design at the UK Government’s Global Investment Summit. Speaking alongside CC C IALIAL Global Investment Summit. the Secretary of State for Business and Trade, Rt Hon Kemi IAL S S Badenoch MP and other automotive industry leaders, Aston S TT BUSINESS CONTEXT Martin Executive Chairman Lawrence Stroll discussed the T AA A TT strength of the UK’s engineering talent, the unrivalled quality of T EE Aston Martin is a global business and leading UK exporter with 145 E MM British luxury craftsmanship and why the future is bright for the M EE dealerships overseas in 53 countries. Since 2020, the number of Aston E NN country’s advanced manufacturing sector. N TT Martin cars wholesaled internationally has more than doubled. In T SS 2023, we exported 83% of our production, with export volumes rising S 3.6% to 5,515 wholesale cars, supporting UK exports to the value of Apprentices from our Gaydon and St Athan manufacturing facilities proudly showcased DBX707 and DB12 at Hampton FF around £1.3bn. Nine out of the top ten Aston Martin dealerships are F UU Court Palace, sharing their Aston Martin journey with attendees U RR located overseas, with our Tokyo dealership emerging as the number R TT T HH one location for new car sales globally in 2023. As a flag bearer for including the Secretary of State for Transport, Rt Hon Mark H EE E RR British industry and innovation, we are committed to supporting the Harper MP, Rt Hon David Davies MP, Secretary of State for Wales R INF INF wider success of UK exporters and the UK automotive industry by and Automotive Minister Nusrat Ghani MP. INF OROR working with government. This plays a key role in advancing our OR MM positive social and economic impact. The Company’s success as M AA A TT an exporter currently helps underpin 2,672 direct jobs in the UK T II I ONON and further jobs across the wider supply chain, with the Company ON spending more than £200m in the UK procuring components and Policy and standards services every year. We are committed to building a responsible supply chain with our partners. Our approach and expectations of our suppliers is set out in the Aston Martin Responsible Procurement Policy which was revised in 2023 by defining our business values, the expected behaviours & minimum requirements of all Aston Martin suppliers. The policy will be rolled out in 2024. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 55

STRATEGIC REPORT ENVIRONMENTAL, SOCIAL AND GOVERNANCE CONTINUED SS TRTR AA TETE GG II CC R R EE PP OO RR TT GG OO VEVE RR NANNAN CC 05 EE FF II NANNAN Delivering the CC IALIAL S S highest standards TT AA TT EE MM EE Introduction Highlights NN TT A commitment to delivering the highest SS standards forms the bedrock of our 30 business, focused on: FF – Embracing industry best practice. UU Sustainability Working Group meetings RR TT – Pioneering leadership. HH EE RR In 2023, key activities included: INF INF 97% – Responding to the Science Based of production suppliers compliant with OROR Targets initiative (‘SBTi’) consultation ISO 14001:2015 environmental MM on a new draft pathway for AA management standard TT II automakers to cut their scope 1, 2 and ONON 3 CO emissions. 2 – Continuing to monitor new developments and engage with New specialist consultants on topics such Code of Conduct as biodiversity. UN Sustainable development goals ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 56

SS S TRTR EMBRACING INDUSTRY BEST PRACTICE Policy and standards TR AA A TETE 2023 TARGETS AND GOALS PROGRESS Our policy is to conduct all our business in accordance with all relevant TE GG G II Continue commitment to the – Work continues towards I CC laws and regulations. We have a zero tolerance approach to bribery C R R Science Based Targets initiative developing short- and medium- R and corruption. We encourage staff to speak up using our confidential EE term targets to support pathway E PP reporting processes if they have any concerns that our Code of P OO to net zero. O RR Conduct, its underlying policies or our values are not being adhered to. R TT Continue commitment to the – Continue to report according to T Task Force on Climate-related requirements set out by the Task For more information see Financial Disclosures Force on Climate-related Financial www.astonmartinlagonda.com/code of conduct. GG Disclosures. G OO O VEVE Understand and engage – Continue to monitor and explore VE RR in emerging areas of best practice across areas R NANNAN sustainability best practice including growing requirements NAN CC around physical resilience to C EE Climate Change. E FF PIONEERING LEADERSHIP F II I NANNAN 2023 TARGETS AND GOALS PROGRESS NAN CC C IALIAL Understand and engage – Continue to monitor new IAL S S in emerging areas of best developments, supported by S practice such as the Science specialist consultants where TT T AA Based Targets Network for appropriate. A TT T EE Nature and the Taskforce E MM M EE on Nature-related Financial E NN N TT Disclosures T SS S BUSINESS CONTEXT FF F UU Delivering the highest standards defines everything we do. We are U RR R TT striving to meet international best-practice standards in areas such as T HH H EE occupational health and safety, environmental management systems and E RR R INF INF energy management systems. We operate in a heavily regulated sector INF and work hard towards ensuring compliance with legal and regulatory OROR obligations in areas ranging from anti-slavery to vehicle safety. OR MM M AA A TT T II In 2023, our materiality assessment highlighted that stakeholders I ONON continue to regard product quality and product safety as the most ON New Code of Conduct significant sustainability issue for the business. It also revealed a significant increase in the importance stakeholders attach to corporate governance and risk management, ranking it the third most important In 2023, we introduced our new Code of Conduct which reflects our th out of 22 sustainability topics (this compared to 12 position last year). values in action, particularly in areas with key ethical or legal Other key governance topics regarded as significant and growing considerations, marking what we stand for and what we expect priorities included sustainability governance and management, supply from each other. chain and sourcing, cyber security and fair and ethical conduct. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 57

STRATEGIC REPORT TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES S TR A Task Force on Climate-Related TE G I C R Financial Disclosures E P O R T OVERVIEW GOVERNANCE OF CLIMATE RELATED RISKS Our Task Force on Climate-related Financial Disclosures (‘TCFD’) Aston Martin is committed to doing business in an ethical and G statement has been produced to address the requirements of Listing transparent manner, overseen by good corporate governance. In 2021 O VE Rule 9.8.6R(8) and the TCFD Recommendations and Recommended the Board established our Board Sustainability Committee to oversee R Disclosures set out in Implementing the Recommendations of the and monitor the delivery of our Racing. Green. strategy. The NAN Task Force on Climate-related Financial Disclosures published Committee is chaired by Anne Stevens, Independent Non-executive C in October 2021. Director, in 2023 the Committee met quarterly. It provides strategic E guidance and scrutiny of management’s assessment and management This statement details the risks and opportunities arising from climate of climate-related risks, opportunities, targets and environmental F change, the potential impact on the business and the actions we’re matters with reporting to the Board following each Committee. The I taking to respond. We also integrate climate related disclosures NAN work of the Sustainability Committee influences Board strategic throughout this report including in our ‘Tackling Climate Change’ decisions in areas such as the development of the future product C report on pages 44-47. A detailed breakdown of our emissions can be IAL portfolio such as the planned move towards an electrified line-up of found on page 47. sports cars and SUVs by 2030. In addition to the Non-executive S T Directors, the Committee is also attended by members of the A T We have structured our statement in line with the four key thematic Executive Committee including the Chief Executive OfÏcer, Chief E M TCFD pillars: Financial OfÏcer, Chief People OfÏcer, Chief Industrial OfÏcer, E N Executive Consultant to the CEO and General Counsel. T – Governance S – Strategy A full report on the Sustainability Committee is included on page 106. F – Risk Management Some of the relevant topics included on the agenda during 2023 U R – Metrics and Targets included: T H E R – Environmental performance review including energy data INF – Net zero plan update – Working Group updates OR – Carbon neutral facilities plan M A – ESG risk T I ON ASTON MARTIN LAGONDA GLOBAL HOLDINGS PLC RISK MANAGEMENT COMMITTEE BOARD SUSTAINABILITY COMMITTEE Key sustainability issues are Sustainability Committee has delegated Board authority to approve listed on the Company’s risk Environmental, Social and Governance (‘ESG’) strategy and act on register and regularly ESG-related matters reviewed by the Risk Management Committee EXECUTIVE COMMITTEE WORKING GROUPS ENERGY AND WATER MODERN SLAVERY ENVIRONMENT WASTE ELECTRIC VEHICLES SUSTAINABLE SUSTAINABILITY DIVERSITY AND HEALTH AND SAFETY DESIGN AND SUPPLY CHAIN COMMUNICATIONS INCLUSION (ISO 45001) SUSTAINABILITY INNOVATION ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 58

S S TR The Sustainability Committee is supported by ten dedicated CLIMATE-RELATED STRATEGY TR A sustainability working groups focused on areas ranging from energy The automotive industry is having to rapidly respond to address A TE management to development of a sustainable supply chain. The role the regulatory, customer and stakeholder demands resulting from TE G G I I C of these groups is to develop and execute credible action plans to the need to combat climate change. Some of the solutions being C R achieve clear targets in their respective areas. At each meeting, the R implemented include shifting to the production of more fuel-efÏcient E E P Sustainability Committee receives performance updates on key vehicles, use of cleaner fuels and a move towards electrified P O O R indicators from each of the Working Group leads to monitor progress. powertrains. R T In addition, deep dive sessions are held as required to provide greater T visibility and discussion. In line with the recommendations of the TCFD we categorise climate- G related risks and opportunities using the TCFD recommended G O O VE We also have a specialist sustainability team, reporting into the Chief classifications as follows: VE R Financial OfÏcer. This team supports the working groups and wider R NAN business divisions in developing relevant sustainability strategies Physical risks: Relate to the physical impacts of climate change over NAN including climate change whilst also driving external advocacy and time (e.g., increased rainfall, sea level rise, prolonged drought, C C E partnerships. In addition, included within key functions such as increased frequency and severity of extreme weather events E procurement and facilities we have experts who are focused on the sustainability agenda including climate related matters. Their activities Transition risks: Relate to the transition to a lower carbon economy F F I include developing relevant policies and procedures. over time (eg policy, legal, technology and market changes to address I NAN NAN mitigation and adaptation requirements related to climate change) C Significant climate-related risks are reviewed by the Company’s Risk C IAL Management Committee and managed using our business-wide Opportunities: Climate change presents opportunities in several IAL S enterprise risk management procedures. Climate-related risks are S areas including resource efÏciency, transition to renewable energy T T A incorporated into the corporate risk register where appropriate. sources, new products and services, new markets and customer A T T E Significant climate-related risks are assigned to functional Risk E M groups. M E Champions to develop appropriate risk mitigation plans. Each function E N N T maintains a risk register which is reviewed twice a year by the Climate change has been identified as a risk factor impacting many of T S Company’s Risk Management Committee. The Audit and Risk the key risks faced by our business. In the short to medium term (the S Committee then provides oversight of the corporate climate-related next five years) we face transition risks arising from changing policy F F U and other risks. and regulations, changing consumer preferences and accelerated U R R T technology change as the move to electrification and other non- T H H E To date, management remuneration has not been linked to climate- carbon solutions intensifies. Physical risks arise in the short term due E R R INF related performance objectives. The Remuneration Report provides to disruption linked to extreme weather events but also continue to INF further detail as this is being considered for the financial year ending be relevant in the longer term (beyond five years) with the potential OR 31 December 2024. impact of more severe and frequent weather events on our supply OR M chain and distribution network. The potential impacts of climate M A A T change are taken into account in developing our overall business T I I ON strategy and supported by our Racing. Green. strategy which ON incorporates both short and long term environmental targets. In 2023, we established the baseline inventory for our Scope 3 emissions (see page 27 of our Sustainability Report 2023) and will develop a full transition plan in 2024 across all Scopes. Our targets towards tackling climate change are included on page 45 and through our wider environmental focus on pages 48-49. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 59

STRATEGIC REPORT TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES CONTINUED S RISK MANAGEMENT When considering climate-related risks and opportunities we assess TR The Board is ultimately responsible for ensuring that the Company has their potential impact over three time horizons, short term (< 2 years), A TE an effective Enterprise Risk Management Framework and System medium term (2–5 years), covering the five year business plan period, G I (‘ERMFS’) implemented across the business to facilitate delivery of its and long term (beyond 5 years and up to 2050). All risks included C strategic objectives. For further information on this refer to the Risk within the corporate risk register are assigned a Risk Owner responsible R E and Viability Report on pages 64-70 and the Audit and Risk Committee for performing periodic likelihood and impact risk assessments and P O Report on pages 98 to 105, where we outline how risks and developing formal documented risk management plans. R T opportunities, including those specifically related to climate change, are identified, assessed and managed through the deployment of A summary of the key significant risks and opportunities which have the Aston Martin ERMFS. been assessed and incorporated within the scenario analysis has been G O As part of our annual risk assessment activity we have considered how presented on the next page and a summary of some of the key VE mitigating activities that have been taken, or are planned to be taken R the impact of climate change affects our existing corporate risks, as to manage the significant climate-related risks are disclosed in the NAN well as identified any new and emerging climate-related risks and table on page 62. C opportunities. We also engage with external risk management E networks to develop a broader understanding of the global impact We further categorise climate-related risks and opportunities using of climate change. the TCFD recommended classifications for transition risks and F physical risks: I In 2021 we engaged a third-party consultancy to build our scenario NAN analysis model which we have used to evaluate the potential impact Transition Risks Physical Risks C of both transitional and physical risks and opportunities on Aston – Policy and legal risk – Acute IAL Martin, with risks being categorised in accordance with the TCFD – Technology Risk – Chronic S T Recommendations in three warming pathways, as depicted in the – Market Risk A T table below. We plan to re-review the scenario analysis in 2024. – Reputation Risk E M E N Key inputs into the model included the physical geographical footprint Our key risks are grouped according to these. Whilst physical risks T S of the Company; supply chain and global dealer network; historical have been identified in the short term related to supply chain and and predicted sales volumes by market; Scope 1, 2 as well as available distribution impacts, we have focused on transition risks as these F Scope 3 GHG emissions data; and vehicle material content. We used represent the material risks identified within the short and medium U R the Representative Concentration Pathways (RCPs) as our framework term for our company, these are highlighted in the following table. In T H for modelling different emissions pathways and the associated impact summary, we are transforming our products and the way they are E R on the climate. To explore the associated market and customer trends manufactured to help tackle climate change. In 2024 Aston Martin is INF underpinning our commercial resilience we also considered different on course to enter production of Valhalla, our first PHEV, followed by socioeconomic futures, known as the Shared Socioeconomic our first BEV targeted for launch in 2026 and a clear plan to have a line- OR Pathways (SSPs). up of electric sports cars and SUVs by 2030. Whilst embracing M A electrification, we also believe our sustainability ambitions must be T I broader than just producing tailpipe emissions-free vehicles. We want ON to ensure our manufacturing footprint is sustainable enabling the production of our vehicles with a reduced environmental impact. SCENARIO PATHWAYS Scenario Steady path to sustainability Middle of the road Fossil-fuelled global growth SSP/RCP* SSP 1/RCP 2.6 SSP 2/RCP 3.4 SSP 5/RCP 8.5 Description Globally coordinated efforts to reduce Imperfect efforts to reduce emissions lead to Global collaboration focused on protecting emissions to moderate progress but exacerbate inequalities the population from a changing climate (as net-zero by 2050 and avert the worst effects of opposed to reducing human-induced climate climate change change) Societal response Proactive Proactive Reactive Global Open, collaborative, global Independent, regional Open, collaborative, global dynamics Temperature rise 1.5°C 2–2.4°C 4°C Likelihood Low High Medium * SSP – Shared Socioeconomic Pathway, RCP – Representative Concentration Pathway ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 60

S S TR Our key material risks are included below: TR A A TE KEY TE G G I I C Manufacturing C R S Supply chain M C Customer R S Short term M Medium term L Long term & distribution E E P P O O R R T Physical Potential financial Time TCFD risk T Risks arise across all warming scenarios 1.5°C, 2°C & 4°C. Risks Risk type impact horizon classification Supply chain – Increased Physical G disruption S M costs G S Acute & O As we see the frequency and severity of extreme weather events – Decreased Chronic O VE increase as a result of climate change, the potential impact of these on revenue VE R our distribution chain through increasing delays in deliveries of our Distribution – Increased R NAN disruption M C costs Physical NAN cars though to our dealership network, but also through disruption in – Decreased S Acute & Chronic C the supply chain, exacerbated by our reliance on single source vendors. revenue C E Increasing – Increased Physical E insurance costs M operating L Acute costs F F I I NAN NAN C C IAL Transitional Potential financial Time TCFD risk IAL Risks Risk type impact horizon classification S Risks arise across warming scenarios 1.5°C and 2°C and also in a 4°C Inability to – Increased S T scenario in the case of risk related to the EV transition. maintain costs T A Technology A S M C S T pace with – Decreased T E E M As we transition to a lower carbon economy our technological innovation revenue M E E N advancements and ability to remain competitive will need to keep Brand and – Increased N T reputation costs T S Reputation S pace with the change, linking with the potential need to create a more damage S M C – Decreased S diverse product portfolio that is price competitive and manages to revenue convert a traditional ICE customer base to alternative propositions EV transition – – Increased F access to skills, F U based on a blended drivetrain approach between 2025 and 2030, costs U R increased market Market R S M C S M T including Plug-in Hybrid Electric Vehicle (‘PHEV’) and Battery Electric – Decreased T H segmentation, revenue H E Vehicle (‘BEV’), with a clear plan to have a line-up of electric sports market disruption) E R R INF cars and SUVs. As regulations move to mitigate and adapt to the Increasing – Increased INF regulation C M costs Policy and challenges of climate change the need to keep pace will become key, and policy – Decreased S Legal OR as well as the ability to adapt to the potential emergence of carbon revenue OR M M A markets and taxes. Brand and reputation damage as a result of not Customer base – Increased A T and market costs T I keeping pace and association with potentially unethical supply chain C Market I ON activities is a core risk in this changing landscape. changes – Decreased S ON revenue Opportunities Opportunity Potential financial Time Opportunities arise across all warming scenarios 1.5°C, 2°C & 4°C. Opportunities type impact horizon Cost efÏciencies – Decreased linked to reduced S M operating Climate change also presents opportunities for the Company, in resource use costs S particular linked to securing operational cost efÏciencies through the Stronger ESG – Increased reduction and more efÏcient use of materials and resources including narrative building C revenue energy, water and waste, which links back to decreased operating M brand reputation costs. Alongside this, potential for increased revenues as a result Maximise revenue – Increased of building a reputation and strong ESG narrative across our whole and profit from C revenues value chain. last generation S core ICE vehicles ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 61

STRATEGIC REPORT TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES CONTINUED S POLICY – R&D investment to develop lower fleet emissions portfolio TR Managing our exposure to changes in – Maintenance of small volume derogation status exemptions where available A – Establishment of emissions-pooling agreements with third parties to manage exposure to carbon pricing TE legislation G I – Consideration of forward purchasing of carbon offsets to manage exposure to increased pricing and reduced capacity C TECHNOLOGY – R&D investment in EV technology R E Modifying our product offering – Improving energy efÏciency in our manufacturing plants P O – Selection of a strategic partner to provide access to EV powertrain technology R – Investment in use of alternative sustainable materials within vehicles T MARKET – Launch of our Racing. Green. sustainability strategy Adapt to meet customer needs and desires – Continued focus on waste reduction and elimination with zero single-use plastic waste target to be achieved by 2025 G – Working with our supply chain to reduce global emissions and waste O – Development of electrified powertrain options within the product portfolio and increased use of sustainable materials VE to meet customers’ evolving requirements R REPUTATION – Development of our Racing. Green. sustainability strategy to respond proactively to climate change NAN Positioning Aston Martin as an ultra-luxury – Transparent disclosure of our GHG emissions through publication of our Sustainability Report C sustainable brand – Enhanced communication of actions already taken to address climate change E – Development of credible plans to achieve net zero carbon emissions within our plants by 2030 – Deployment of our bold new brand strategy – Clear strategy to electrify our product portfolio and increase use of sustainable materials (including green aluminium) F I NAN METRICS AND TARGETS unit (tCO2e per car manufactured) as a metric for a normalizing our C Our sustainability strategy Racing. Green. incorporates a number emissions data. This emission intensity metric showed a 23.3% drop IAL of climate-related metrics and targets which demonstrate the Company’s compared with 2022. Our progress in 2023 section on page 45 S commitment to tackling climate change in the short-, medium- and highlights the key accomplishments in 2023 related to minimising our T A T longer-term as well as assessing and managing these risks. emissions impact. E M E N We listen to our stakeholders and monitor developments from We previously committed to the SBTi Net-Zero Standard and this year T regulatory and governance bodies to provide input into our materiality have developed our full Scope 3 inventory and are in the process of S assessment for climate-related disclosure purposes. The targets and setting near and long term Company-wide emissions reduction metrics disclosed have been identified by the Sustainability Committee targets in line with the standard. In November 2023 we responded F U as being those that have a material impact on our business due to their to the SBTi consultation on the automaker sectors pathway and R T nature, size or complexity. Our Scope 1, 2 and limited Scope 3 metrics await SBTi reopening validation for automakers. H E as well as energy consumption data are included on page 49 of this R report and form part of this TCFD disclosure. We continue to enhance our data collection methods, working across INF our value chain, and seek to obtain external assurance to validate a OR In summary total Scope 1 and 2 emissions during 2023 amounted to number of our reportable metrics as outlined in our Sustainability M A 13,617.49 tCO2e, a 25% drop from 2022, reflecting a all in total energy Report. We continually review our processes and will do so as we T I use of 11.2%. To provide greater clarity over our actions and the results develop our targets aligned with the SBTi Net-Zero standard, our ON of energy saving and efÏciency measures we use GHG emissions per current relevant climate change targets include: KEY TARGETS – TACKLING CLIMATE CHANGE 100% Net-Zero Clear plan to have Use of renewable manufacturing 30% a line up of electricity to power facilities Reduction in supply electric sports our manufacturing Our first PHEV enters chain CO emissions 2 cars and SUVs operations production (from 2020 baseline) 2019 2022 2024 2025 2030 2039 Zero single-use Target for launch Net-Zero across 2.5% plastic packaging 15% our supply chain of our first BEV Reduce CO emissions Reduction in water 2 waste in 2026 from our manufacturing consumption (from operations by 2.5% 2019 baseline) year-on-year* * Scope 1 emissions as per Racing. Green. strategy. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 62

S S TR TR A TCFD Disclosure Overview A TE TE G G I I C C R R E E P P O O R Disclosure level F Full P Partial O Omitted R T Pillar Recommended Disclosures and disclosure level Response Disclosure locations T Governance a) Describe the board’s oversight F The Board is responsible for climate ambition, strategy and risk and has Pages 58, 60 and G Disclose the of climate-related risks and established the Sustainability Committee to oversee delivery of the 64-66 G O organisation’s opportunities Group’s Racing. Green. strategy. O VE governance VE b) Describe management’s role in F The Executive Committee members are responsible for managing Pages 58 and R R NAN around climate- assessing and managing climate- risks and opportunities within their functions by deploying the ERMFS. 64-66 NAN related risks and related risks and opportunities. They are supported by Functional Risk Champions who attend the Risk C opportunities. Management Committee on a quarterly basis. C E E The Head of Government Affairs and Sustainability holds management responsibility for the Sustainability Committee. Strategy F a) Describe the climate-related risks and F We face multiple climate-related risks, primarily arising from the Pages 60-61 F I I NAN Disclose the actual opportunities the organisation has transition to a low-carbon economy and the need for us to address NAN and potential identified over the short, medium, and technological, legal, market and reputational risks. C impacts of climate- long term. Physical risks pose a lesser threat to our direct operations, whilst we do C IAL related risks and recognise their potential impact on our supply chain. IAL S opportunities on S b) Describe the impact of climate- F We are investing in electrification of our product portfolio to mitigate Pages 60-61 T T A the organisation’s related risks and opportunities on the the technological and regulatory risks associated with transition to a A T T E businesses, organisation’s businesses, strategy, low carbon economy together with investment in sustainable materials. E M M E strategy, and and financial planning. We are also investing in our manufacturing facilities to drive increased E N financial planning N T energy efÏciency and reduced waste. T S where such S c) Describe the resilience of the P Our business plan takes into account planned investment and capital Pages 58-62 information is organisation’s strategy, taking into expenditure to electrify our powertrains, and capital projects to reduce material. consideration different climate- carbon emissions from within our facilities and operations. Disclosures F F U related scenarios, including a 2°C or regarding the resilience of our strategy in each of the warming U R R T lower scenario. scenarios will be further enhanced in 2024. T H H E Risk Management a) Describe the organisation’s processes F Our ERMFS is used to identify, assess and manage all types of risks Pages 60, 61, 64 E R R INF Disclose how for identifying and assessing climate- across the business. This includes specific consideration of both and 66 INF the organisation related risks. transitional and physical climate-related risks. OR identifies, assesses, b) Describe the organisation’s processes F In 2021 we identified and disclosed a new principal risk relating to Pages 60-61 OR M and manages for managing climate-related risks. climate change and the need for the business to transition its product and 64 M A A T climate-related portfolio to electrified powertrains over the medium term and reduce T I I ON risks. our carbon footprint. ON c) Describe how processes for F Climate-related risks are considered and managed within our ERMFS. Pages 58-62 and identifying, assessing, and managing 64-66 climate-related risks are integrated into the organisation’s overall risk management. Metrics and a) Disclose the metrics used by the P We have identified and disclosed a wide range of climate-related Pages 47 and 62 Targets Disclose organisation to assess climate-related metrics in order to manage our exposure to climate risks and the metrics and risks and opportunities in line with opportunities. Additional interim targets will be developed for our targets used to its strategy and risk management longer-term ambitions during 2024. assess and manage process. relevant climate- b) Disclose Scope 1, Scope 2, and, if P We have disclosed our Scope 1 and Scope 2 emissions for our own Page 47, related risks and appropriate, Scope 3 greenhouse operations and made partial disclosure in relation to our Scope 3 Sustainability opportunities gas (GHG) emissions, and the related emissions (covering business travel). We recognise that our current Report page 27 where such risks. Scope 3 disclosures are not sufÏcient to fully comply with the TCFD information is Recommendations. During 2023 we have collated our baseline material. inventory for Scope 3, however due to the timing of this data collation exercise we have chosen not to fully report the data within this years report. c) Describe the targets used by the F We are in the process of establishing interim targets, to enable us to Pages 47 and 62, organisation to manage climate- track progress towards our stated longer term net-zero targets Current Sustainability related risks and opportunities and targets are disclosed in the Sustainability section of this Annual Report Report page 27 performance against targets. and Accounts with further detail in the Sustainability Report. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 63

STRATEGIC REPORT RISK AND VIABILITY REPORT SS TRTR AA Risk Management TETE GG II CC R R EE PP OO RR RISK GOVERNANCE THE KEY ELEMENTS AND ACTIVITIES SUPPORTING TT We deploy our Enterprise Risk Management Framework and System OUR ERMFS INCLUDE: (‘ERMFS’) to manage risks and provide the Board, the Audit and Risk – annual review and approval of the ERMFS and Risk Management GG Committee and the Executive Committee with a robust assessment of OO Policy; VEVE our principal and emerging risks. The Board is ultimately responsible – bi-annual review of principal risks to assess the gross, net and RR for oversight of our risk management and internal control systems target risks for potential impact and likelihood; NANNAN and determines our risk appetite. – maintenance of corporate and functional risk registers; CC The Board has delegated its responsibility for monitoring the – undertaking top-down/bottom-up risk assessments including EE horizon scanning to identify emerging risks; effectiveness of the Group’s risk management and internal control – creating formal risk mitigation plans for all principal risks; and FF systems to the Audit and Risk Committee. The Committee fulfils this – provision of independent and objective assurance by the Internal II responsibility by directing and reviewing the work of executive NANNAN Audit team over the effectiveness of principal risk mitigation plans management and the key governance functions within the Group, to the Audit and Risk Committee. CC including the Internal Audit & Risk Management team (‘IA&RM’) IALIAL and the Risk Management Committee. The Chair of the Audit and CHANGES TO ASTON MARTIN’S RISK PROFILE S S TT Risk Committee updates the Board on the Committee’s activities in The most significant changes to the Group’s principal and emerging AA TT this regard as appropriate. risks in the year were: EE MM EE NN HOW WE MANAGE RISK – Talent acquisition and retention – risk reducing due to the positive TT Our IA&RM team maintains the ERMFS and coordinates risk impact of investment in the talent acquisition team and improved SS management activities across the Group, leveraging a network of employee engagement driving lower levels of employee churn. FF functional Risk Champions embedded within management (our first – Programme Delivery – risk increasing reflecting the volume of UU RR line of defence). Each principal risk has a risk mitigation plan programme activity planned for 2024 and the importance of TT HH incorporating management’s assessment of gross, net and target launching programmes on time and within budget. EE RR risk together with an assessment of the effectiveness of mitigating – Macroeconomic uncertainty and political instability – risk INF INF controls and activities currently implemented, and those which need increasing reflecting growing societal and political polarisation, to be implemented in order to reduce the risk to the target level ongoing conflicts, cost of living crisis and remaining inflationary OROR commensurate with the Group’s risk appetite. These plans are updated challenges. MM AA routinely throughout the year with any changes being incorporated – Inadequate protection against cybersecurity threats – risk TT II into the corporate risk register. increasing due to increasing technological content in connected ONON cars, presenting greater opportunities for attack which need to be appropriately mitigated against. Our Internal Audit & Risk Management team maintains the ERMFS and coordinates risk management activities across the Group, leveraging a network of functional Risk Champions embedded within management.” ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 64

SS S TRTR RISK APPETITE OUR PRINCIPAL RISKS TR AA The Board determines the amount of risk the Group is willing to accept Our risk management system is designed to identify a broad range of A TETE in pursuit of the Group’s strategic objectives. This varies dependent on risks and uncertainties which could adversely impact the profitability TE GG G II I CC the type of risk and may change over time. In exploring risks and or prospects of the Group. Our principal and emerging risks are those C R R opportunities, we prioritise the interests and safety of our customers which could have the most significant effect on the achievement of our R EE E PP and employees and seek to protect the long-term value and reputation strategic objectives, our financial performance and our long-term P OO O RR of the brand, while maximising commercial benefits to support sustainability. R TT responsible and sustained growth. T The following pages set out the Group’s principal and emerging risks, Risk category Risk appetite GG how they align to our strategy, example risk factors and the primary G OO Compliance Zero tolerance mitigating actions implemented for each risk during the year ended O VEVE Financial Low tolerance VE RR Climate change Low tolerance 31 December 2023. Principal risks evolve over time as some risks R NANNAN Strategic Moderate tolerance assume greater importance and others may become less significant. NAN CC Operational Moderate tolerance C EE We categorise principal risks within one of the following categories: E Strategic, Operational, Compliance, Climate Change and Financial, and link each risk to one or more of our strategic pillars that underpin FF F II our business plan. I NANNAN NAN CC C IALIAL IAL S S S TT T AA A TT T EE E MM M EE E NN N TT T SS S FF F UU RISK MANAGEMENT GOVERNANCE U RR R TT T HH H EE E RR INTERNAL AUDIT & RISK MANAGEMENT RISK MANAGEMENT BOARD AND AUDIT R INF INF COMMITTEE AND RISK COMMITTEE INF OROR – Co-ordinates deployment of the ERMFS OR MM – Maintains the corporate risk register M AA – Identifies and assesses new – The Board has delegated A TT T II – Presents Board, Audit and Risk Committee and Executive and emerging risks oversight of the ERMFS I ONON Committee risk status updates – Performs deep-dive reviews to the Audit and Risk ON – Provides resources and training to support risk management of risk mitigation plans Committee activities and support Functional Risk Champions – Meets quarterly and reports – The Board has ultimate – Evaluates the design and operating effectiveness of principal to the Audit and Risk responsibility for risk mitigation plans on a rotational basis Committee and Executive establishing a framework Committee of prudent and effective – Representation from controls which enable risk to FUNCTIONAL RISK CHAMPIONS AND RISK OWNERS all functions across the be assessed and managed business – Determine risk appetite – Ensures risks are managed in – Review effectiveness of – Responsible for risk management at a functional level accordance with the Board’s risk mitigation plans and – Maintain functional (bottom-up) risk registers and manage and defined risk appetite assurance activity develop risk mitigation plans for principal risks – Champions effective risk – Monitor status of risk – Champion adherence to ERMFS principles and guidance within management and control management activity and their functions across the business reporting – Consider emerging risks and escalate to the Risk Management – Review outputs of principal Committee as appropriate risk mitigation plan reviews ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 65

STRATEGIC REPORT PRINCIPAL RISK SUMMARY S STRATEGIC RISKS CLIMATE CHANGE RISKS TR A Macroeconomic and Brand / reputational Technological Climate TE political instability damage advancement change G I C R Exposure to multiple political and Our brand and reputation are critical It is essential to maintain pace with The impact of climate change could R I S economic factors could impact in securing demand for our vehicles technological development to meet significantly impact demand for our E K customer demand or affect the and in developing additional revenue evolving customer expectations, vehicles, our ability to sell within P DE O markets in which we operate. streams. remain competitive and stay ahead of certain markets or have financial R S regulatory requirements. consequences through increased T C carbon pricing, taxes and other R regulatory restrictions on ICE I P T vehicles. G I O ON Risk movement Risk appetite Risk movement Risk appetite Risk movement Risk appetite Risk movement Risk appetite VE MODERATE LOW LOW LOW R Link to strategy Link to strategy Link to strategy Link to strategy NAN 1   2   3   1   2   3   2   3   4   1   2   3   4   C E P – Global economic slowdown – Product recall or quality issues – The Group is reliant on strategic Transition risks O reducing demand for vehicles could impact customer confidence partnerships with third parties to – Policy – new tailpipe emissions T – Unfavourable movement in and result in reduced demand support development of new and reduction targets or loss of small F E I N exchange rates increasing – Late delivery of new models / emerging technologies volume derogation status could NAN T input costs or affecting price variants could impact customer – Competitors may have better lead to increased carbon taxes and I A competitiveness confidence and loyalty and delay access to funding to develop new import tariffs C L I – Adverse economic global sales technology faster and be first to – Market – customer preferences IAL M conditions could adversely impact – Dealer network may not be market may move towards non-ICE S P A our dealer network or supply effective in raising, maintaining and – Changing and more stringent powertrain options faster than T C chain promoting brand awareness regulations may make current anticipated A T O – Commodity price increases and – Inadequate dealer training in new technology obsolete and increase – Technology – disruption from T E N B other inflationary pressure products and technologies could the risk of future non-compliance new technologies or new market M – Increasing interest rates impair the customer experience – Failure to incorporate new entrants together with increased E U impacting the affordability of – A slower transition to alternative technology into vehicles may affect demand for sustainable products N T S finance for customers powertrain vehicles could affect our ability to remain competitive – Reputation – inability to create a S I N the Group’s ability to target new credible sustainability proposition E customer groups as we manage the transition from S S ICE to EV powertrains, or brand F damage caused by activist activity U R Physical risks T – Increased frequency / severity of H E extreme weather events causing R supply chain disruption INF – Potential increased insurance costs as more claims are made due to OR climate-related physical damage / M business disruption A T I R – Regular operational and financial – Standardised embedded quality – Strategic arrangements with key – Progress on activities supporting ON I S reviews of the business procedures (e.g., 300 Call partners, including the strategic our Racing. Green. sustainability K – £216m proceeds from August Procedure, Customer Perception supply agreement with Lucid strategy and ongoing oversight M 2023 Share Offering Audit, Parts Approval Process) to and the Strategic Co-operation by the Board Sustainability ITI – Business plan developed maintain focus on vehicle quality Agreement with Mercedes-Benz Committee G taking account of current – Expanded dealer network and AG, to provide powertrain and – Strategic co-operation A macroeconomic environment improved training to ensure delivery electrical architecture agreements in place with various TI – Monitoring global market trends of a luxury customer experience – Development of commodity suppliers providing access to new O to target areas for future growth – Regional marketing plans strategy plans powertrain technology N – Routine monitoring of dealer developed quarterly to drive sales – Investment in Electrical Engineering – Investment in R&D to develop stock levels to support build-to- pipeline team PHEV and BEV powertrain order strategy – Fixed marketing investment – Development of new interiors capabilities to support delivery of – Dealer network development programme to drive increased for new sports cars commencing electrified powertrains strategy to target growth in brand awareness and salience, with DB12 in 2023 and Vantage in – Investment in R&D to reduce emerging markets including sponsorship of the Aston early 2024 average fleet GHG emissions Martin Aramco Formula One® Team – Establishment of Connected Car – Forward purchase / pooling of – Quality-led production ramp up for team to develop stronger customer carbon credits to reduce exposure new vehicle programmes proposition for in-car technology to carbon-related financial – Opening of the Q New York Flagship – Creation of an Innovation and penalties and taxes and carbon brand store in June 2023 Advanced Technology group with offsetting dedicated budget and process to – Sourcing of 100% renewable advance innovative technology electricity for our manufacturing in advance of programme operations requirements – Committing to the SBTi to establish and track GHG reduction targets to establish a credible roadmap to net-zero in our manufacturing facilities by 2030 and our supply LEGEND chain by 2039 – Setting target to increase 1 Brand  2 Product innovation  3 Sustainability  4 Team biodiversity at our operations. – Setting annual 2.5% reduction in Scope 1 emissions targets ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 66

S S TR FINANCIAL RISKS COMPLIANCE RISKS OPERATIONAL RISKS TR A A TE Liquidity Impairment of capitalised Compliance with laws Talent acquisition TE G development costs and regulations and retention G I I C C R R The Group may not be able to The value of capitalised development Non-compliance with local laws We may fail to retain, engage and R I E S generate sufÏcient cash to fund its costs continues to grow as we invest in or regulations could damage our develop a productive workforce or E P K capital expenditure, service its debt and expand our product portfolio. corporate reputation and subject develop key talent. P O DE O R or sustain its operations. the Group to significant financial R T S penalties and / or trading sanctions / T C restrictions. R I P G T G O I O VE ON Risk movement Risk appetite Risk movement Risk appetite Risk movement Risk appetite Risk movement Risk appetite VE R LOW LOW ZERO MODERATE R NAN Link to strategy Link to strategy Link to strategy Link to strategy NAN C 1   2   2   2   3   4   1   3   4   C E E P – Significant leverage levels – Vehicle sales volumes fall below – Non-compliance with product – Failure to build the right O may inhibit our ability to raise lifecycle plans and targets regulations (including emissions, capabilities and behaviours in our F T additional capital as a result of the impact of noise, connected car security etc.) leadership team F I E I NAN N – Significant debt servicing macroeconomic factors such as could inhibit the Group’s ability to – Failure to engage or equip our NAN T requirements reduce cash the current cost of living crisis sell in certain markets teams to deliver our strategy or I C A available to support other and continuing global economic – Non-compliance with corporate address key capability gaps C IAL L I operational needs uncertainty and inflationary conduct laws and regulations – Inability to fill key open positions IAL S M – Liquidity restrictions could impact pressure or rising interest costs (including data protection may inhibit our ability to electrify S P T A planned R&D investment – Vehicle pricing and contribution laws, supply chain laws, human our product portfolio in line with T A C – Delays in payment to suppliers reduce to levels which no longer rights laws etc.) could result in published timeframes A T T O to manage short-term cash support the carrying value of the financial penalties and / or brand / T E E M N B requirements could result in attributable capitalised costs reputational damage M E supply chain disruption – Uncertainty of ‘Carry Over – Carry – Failure to keep pace with increasing E N U Across’ utilisation on future vehicle stakeholder expectations to go N T T S S models and derivatives beyond evolving ESG reporting S I N – Rapid pace of technological change requirements could result in brand E results in technology being made / reputational damage which could S F S obsolete earlier than anticipated ultimately affect our sales pipeline F U and planned growth U R R T T H H E E R R INF INF OR OR M M A A T T I I ON R – £216m of proceeds received from – Annual review and approval – Procedures are in place to – Remuneration Committee ON I S Equity capital raise in August 2023 of Capitalisation policy and obtain Vehicle Type Approval oversight of senior leadership K – £654m equity capital raise and procedures and homologation for all new remuneration to ensure it is aligned M $200m debt tender in prior year – Impairment reviews performed production vehicles from the to the strategy and appropriate for ITI – Renewed wholesale financing where triggering events have been appropriate vehicle certification staff retention G facilities implemented to facilitate identified agencies to ensure that vehicles – Regular review of talent and A faster cash collection – Regular vehicle line reviews meet the required performance resource risks leveraging TI – New products targeting minimum undertaken to monitor sales volume standards for the markets they are succession plans and employee O contribution levels of 40% to drive and contribution performance sold in engagement survey results N profit and cash generation for all car lines with any concerns – Processes in place to track and – Benchmarking of bonus and – Regular management review of communicated to Finance monitor compliance with emissions remuneration packages to drive cash and working capital balances for consideration of potential reduction targets and other employee performance and – Regular expenditure reviews held impairment regulatory standards behaviours and remain attractive with the CEO and CFO and regular – New product set entry level – Corporate policies define our to external candidates in a buoyant liquidity-focused Board reviews investment targets of 40% minimum standards of behaviour in relation UK job market – Monthly Treasury Committee contribution levels to key compliance areas (including – Embedding Company values; – Ongoing transformation activity anti-bribery and corruption, Unity, Openness, Trust, Ownership to deliver targeted cost savings data protection, responsible and Courage, based around the and efÏciencies procurement, health and safety, concept that “no-one builds an – Cash pooling and repatriation of anti-slavery and human trafÏcking, Aston Martin on their own” cash to ensure funds are available environmental). These policies have – Talent review exercise undertaken for Group priorities been significantly updated and for senior management and above reissued in 2023 and a new Code of population Conduct developed. – Company-wide performance – Refreshed campaign to promote bonus scheme to drive Speak-Up, our confidential performance, embedding key reporting system, overseen by finance and quality measures and the Audit and Risk Committee, targets LEGEND which enables the reporting of – Successful recruitment of key any suspected breach of policy or senior leadership positions in 2023 1 Brand  2 Product innovation  3 Sustainability  4 Team misconduct ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 67

STRATEGIC REPORT PRINCIPAL RISK SUMMARY CONTINUED S OPERATIONAL RISKS TR A Programme delivery Achieving financial and Cyber security Supply chain TE cost-reduction targets and IT resilience disruption G I C R Failure to implement major The Group’s size and low-volume Breach of cyber security could result Supply chain disruption could result in R I S programmes on time, within demand-led strategy may inhibit in a system outage, impacting core production stoppages, delays, quality E K budget and to the right technical its ability to deliver targeted cost operations and / or result in a major issues and increased costs. P DE O specification and quality could reductions or work within budget data loss leading to reputational R S jeopardise delivery of our strategy constraints while delivering the damage and financial loss. T C and have significant adverse financial planned vehicle programme. R and reputational consequences. I P T G I O ON Risk movement Risk appetite Risk movement Risk appetite Risk movement Risk appetite Risk movement Risk appetite VE MODERATE LOW LOW LOW R Link to strategy Link to strategy Link to strategy Link to strategy NAN 2   3   4   2   3   4   1   3   C E P – InsufÏcient funds to support – High levels of complexity across – Cyber attack resulting in disruption – Suppliers may be unable to meet O current programme investment car lines can drive increased to operational services, possible delivery schedules due to being in T requirements engineering requirements with data loss and related business financial distress F E I N – Inability to manage third-party associated increased resource and outages – Unforeseen supplier failures, or NAN T delivery in line with programme cash requirements – Legacy systems reaching end of life disruption, can lead to production I A timelines and milestones – Inflationary pressure on key may no longer be supported and stoppages caused by delays in C L I – Failure to adhere to the “Mission” input costs (e.g., raw materials, become more susceptible to breach sourcing parts IAL M programme delivery governance commodities, energy, labour) – InsufÏcient investment in – Raw material shortages (including S P A framework could result in delayed makes achievement of targeted systems and resource leads to semi-conductors) due to increased T C launch of vehicles or unforeseen reductions more challenging limited protection with critical demand and global supply chain A T O quality issues – Instability in the supply base due vulnerabilities not being addressed issues could impact Aston Martin’s T E N B – Delays in new Enterprise Resource to economic volatility may reduce in a timely manner ability to meet planned production M Planning (“ERP”) system go-live opportunities to identify cost volumes E U dates could expose the Group savings – Disruption caused by ongoing N T S to increased risk of IT failure and – Ultra-luxury positioning demands global conflicts (e.g. Russia / S I N resultant disruption to production the necessary marketing spend Ukraine, Gaza / Israel, Red Sea E and engineering activities to generate brand and product activity) can result in longer lead S S awareness to build desirability and times and increased freight costs F create future demand U – Increased logistics costs associated R T with disruption due to conflict (e.g. H E Red Sea shipping route disruption) R can lead to unforseen inflationary INF pressures OR M A T I ON R – Deployment of an established – Cross functional team – Project continuing to deliver a – Cross functional weekly risk I S programme delivery transformation activity with agreed new ERP system through 2023 to reviews with key departments to K methodology and regular Product cost target process and regular transition away from end-of-life identify current supply issues and M Committee status reporting and CEO-led cost reviews legacy systems and drive efÏciency actions to resolve ITI oversight – Development of commodity within the IT infrastructure – Supplier scorecards and G – Restructure of business to Project strategy with strategic suppliers to – Enhanced IT general controls for performance metrics developed to A Team focus with a Team Leader drive resilience and cost efÏciency access management, network drive improvement and encourage TI responsible for financials/quality/ – Synergies from leveraging common access controls, remote access (e.g., best practice O timing commodity strategies across multi-factor authentication) and – Internal Customs team established N – Enhanced focus on R&D financial platforms password management to manage and mitigate forecasting for all capital – Increased focus on supply chain – 24/7 vulnerability monitoring using procedural/policy changes expenditure risk analysis and proactive risk security tools including Darktrace, – Periodic due diligence performed – Addition of innovation team management SentinelOne and cyber incident on key suppliers including Dun & to create new technologies to – Targeted marketing activity with response procedures Bradstreet financial health checks an appropriate Technology/ support from key external agencies – Significant investment in in-house – Supplier strategy implemented to Manufacturing Readiness Level to ensure the necessary return Information Security team to develop strategic and sustainable – New model pilot production line on investment is obtained from mature cyber security control partnerships to improve supply established in Gaydon to facilitate marketing spend framework chain resilience new product development – Budget and business planning – Benchmarking of cyber security – Supply chain and logistics – Establishment of New Model activity reassessed in consideration controls against the National transformation project Quality and Quality Business of current inflationary headwinds Institute of Standards & Technology commenced Planning teams to improve quality (“NIST”) governance framework management activity LEGEND 1 Brand  2 Product innovation  3 Sustainability  4 Team ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 68

S S TR RISK MANAGEMENT ACTIVITIES IN 2023 AND PLANS Management actions and deep dives TR A FOR 2024 The IA&RM team incorporates independent validation reviews of the A TE TE G Identification of risks principal risk mitigation plans within its annual Audit Plan, the purpose G I I C We identify and manage risk using a top-down bottom-up approach. being to provide independent assurance to management, the Audit C R – Top-down – Identification, assessment, prioritisation, mitigation, R and Risk Committee and the Board on the effectiveness and sufÏciency E E P monitoring and reporting of risk at a corporate level. Overseen by of management actions to mitigate risks down to an acceptable level. P O O R the Audit and Risk Committee and the Risk Management R T Committee. The team works with functional Risk Champions to maintain formal T – Bottom-up – Identification, assessment, prioritisation, mitigation risk mitigation plans to clearly articulate the nature and extent of G and monitoring of risk across all operational and functional areas. the principal risks and their associated mitigating actions. These are G O used to provide the Board and Audit and Risk Committee with O VE The corporate and functional risk registers have been maintained and VE R management self-assessments on the effectiveness of risk mitigation R NAN updated to reflect changes in the business and the external plans and activities. NAN environment. These continue to be periodically reviewed by the Risk C C E Management Committee. The updated corporate risk register is During 2023 the following key risk management activities have E reviewed and formally re-evaluated at the half and full year to identify been undertaken: any changes required to the disclosed principal risks. These changes – Three Risk Management Committee meetings with focus on the F F I and the summary of principal and emerging risks are then presented following areas: I NAN to the Audit and Risk Committee for review and approval. – Electric vehicle transition plan and associated risks NAN C – Legal and certification compliance risk management C IAL Risk management system – Supply chain resilience IAL S The Aston Martin ERMFS continues to be deployed across the Group. – Emerging risks and horizon scanning S T T A This was subject to an annual review and approved by the Executive – Fraud risk assessment A T T E Committee and the Audit and Risk Committee in July 2023. The Risk – Independent cyber security risk and control maturity assessment E M M E Management Committee met three times during 2023. and benchmarking against the NIST global framework E N N T – Engagement with a third-party and key supply chain stakeholders T S to develop a tool to provide enhanced visibility of the DB12 supply S chain and associated interdependencies F F U – Executive Committee review and agreement of the Group’s U R R T principal and emerging risks T H H E – Annual review of ERMFS and Risk Management Policy E R R INF INF The following principal risk mitigation plan reviews have been OR included within the 2024 Internal Audit plan: OR M – Talent acquisition and retention M A A T – Program delivery T I I ON – Supply chain disruption ON ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 69

STRATEGIC REPORT PRINCIPAL RISK SUMMARY CONTINUED S TR VIABILITY STATEMENT A The Directors have carried out a robust review of the principal risks of In the event of one or more risks occurring which has a particularly TE G I the Group, which are set out on pages 65-68, identifying the nature and severe effect on the Group, the assessment assumed that all appropriate C potential impact of those risks on the viability of the Group, together actions would be taken in a timely manner by management to mitigate R E with the likelihood of them materialising. as far as possible the impact of the risks. Potential mitigating actions P O include constraining capital spending, seeking additional funding and/or R This analysis has then been used to carry out an assessment of the ability a number of other adjustments to operations in the normal course of T of the Group to continue in operation and meet its obligations. The business. assessment covers the five-year period from January 2024 to December G O 2028. This was considered appropriate by the Directors because it aligns In all scenarios it is assumed that any borrowings that mature in the VE with the business plan and the Group’s normal planning horizon and is review period will be renewed or replaced with facilities of similar size. R indicative of the investment and development cycle of new products in The projections show that, even in stressed conditions, the Group NAN the luxury car market. The assessment includes the costs anticipated in should be able to refinance these facilities on commercially acceptable C relation to our strategy and our views of the impact of climate change terms, assuming that debt markets continue to operate as currently. E (see note 1 of the Financial Statements). Inevitably, the degree of certainty decreases over this period. In addition, we have assumed that no additional legislative action will be F taken that impacts the sale of our products within the Viability I The assessment process consisted of stress testing the base case in the Statement timeframe. NAN business plan for scenarios designed to reflect the potential impact of C the principal risks materialising in a compound scenario, including the IAL The Directors have assessed the viability of the Group over the five-year following: period to 31 December 2028 and, based on this assessment and the S T – A severe but plausible reduction in sales volumes as a result of factors assumptions stated above, the Directors have a reasonable expectation A T such as a material reduction in the size of the luxury market due to that the Group will be able to continue in operation and meet its E M external factors (such as delayed product launches, a decrease in liabilities as they fall due over the period to 31 December 2028. E N demand from High Net Worth Individuals, increased direct and T indirect taxation and changes in consumer habits away from luxury S vehicles) F – Incremental fixed and variable costs U R – Incremental working capital requirements such as increased T H inventory during product launches reduced deposit inflows or E R increased deposit outflows INF – The impact of strengthening sterling:dollar exchange rates OR M A T I ON ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 70

NON-FINANCIAL INFORMATION STATEMENT S S TR Non-financial and sustainability The policies mentioned below form part of the Company’s Group TR A policies which are brought together in our Code of Conduct and act A TE TE information statement as the strategic link between our Purpose and Values and how we G G I I C manage our day-to-day business. C R This section of the Strategic Report constitutes the Non-Financial and R E E P Sustainability Information Statement of the Company, produced to The Strategic Report was approved by the Board and signed on its P O O R comply with sections 414CA and 414CB of the Companies Act 2006. behalf by: R T The information listed in the table below is incorporated by cross T references to other areas of the Annual Report, Sustainability Report AMEDEO FELISA G and the Company website where further information can be CHIEF EXECUTIVE OFFICER G O found. The majority of policies can be found on our website: 27 February 2024 O VE www.astonmartinlagonda.com. VE R R NAN NAN C C E E F F I I NAN NAN Reporting requirements Policies and standards which govern our approach Where material information can be found C C IAL Climate-related financial disclosures – TCFD report pages 58-63 IAL S – Risk Management pages 64-69 S T Environmental Matters – Environmental Policy – Creating a better environment pages 48-49 T A A T – Code of Conduct – Stakeholder engagement, pages 24-27 T E E M – TCFD report pages 58-63 M E E N – Sustainability Report www.astonmartinlagonda.com N T T S Employees – Diversity and Inclusion Policy – Investing in people and opportunity pages 50-53 S – Group Health and Safety Policy – Audit and Risk Committee Report, pages 98-105 – Confidential Reporting Policy – Directors’ Remuneration Report, pages 108-122 F – Gender Pay Gap Report – Gender Pay Gap Report, page 53 and F U U R – Code of Conduct www.astonmartinlagonda.com R T T H Anti-Bribery and Corruption – Anti-Bribery and Corruption Policy – Delivering the highest standards pages 56-57 H E E R – Group Conflicts of Interest Policy – Audit and Risk Committee Report, pages 98-105 R INF – Hospitality and Gifts Policy – www.astonmartinlagonda.com INF – Anti-Money Laundering Policy OR – Code of Conduct OR M M A Human Rights – Anti-Slavery and Human TrafÏcking Policy – www.astonmartinlagonda.com A T T I – Modern Slavery Statement I ON – Code of Conduct ON Stakeholder – Responsible Procurement Policy – Exporting success pages 54-55 – Data Protection Policy – Stakeholder engagement, pages 24-27 – Code of Conduct – s.172 Statement, pages 28-29 – www.astonmartinlagonda.com Social – Environmental Policy – Creating a better environment pages 48-49 – Code of Conduct – Exporting success pages 54-55 – Stakeholder engagement, pages 24-27 Non-Financial Key – Key performance indicators, pages 34-35 Performance Indicators – Strategic Report, pages 1-70 Principal Risks – Risk management pages 64-69 – Business model, pages 30-31 Business Model – Business model, pages 30-31 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 71

GOVERNANCE S TR A TE G I C R E P O R T G O VE R NAN C E F I NAN C IAL S T A T E M E N T S F U R T H E R INF OR M A T I 02ON ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 72

S S TR TR A A TE TE G GOVERNANCE G I I C C R R E E P 74 Governance at a glance P O O R 75 Executive Chairman’s introduction to governance R T 76 Board of Directors T 80 Executive Committee G 82 Leadership and governance G O O VE 86 Board activities VE R 89 Board and workforce engagement R NAN 90 Investor engagement NAN 92 Board and Committee evaluation C C E 94 Nomination Committee Report E 98 Audit and Risk Committee Report 106 Sustainability Committee Report F F I I NAN 108 Directors’ Remuneration Report NAN 123 Directors’ Report C C IAL 129 Statement of Directors’ Responsibilities IAL S S T T A A T T E E M M E E N N T T S S F F U U R R T T H H E E R R INF INF OR OR M M A A T T I I ON ON 23 Annual General 0 2 Meeting ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 73

GOVERNANCE GOVERNANCE AT A GLANCE SS BOARD GENDER STATISTICS TRTR AA Governance TETE GG II 27% CC R R at a glance of our total Board is female (2022: 30%) EE PP OO RR TT 50% 67% Governance is essential to building a successful business that is of Board positions which are of our Independent Non- sustainable for the longer term. Aston Martin is committed to ensuring not shareholder nominated executive Directors are GG OO and maintaining high standards of corporate governance to enhance are held by women women VEVE performance and strengthen stakeholder confidence. RR 2023 50% 2023 67% NANNAN CC 2022 38% 2022 50% EE FF II BOARD NATIONALITY STATISTICS OUR BOARD COMPOSITION NANNAN CC British 7 Shareholder Representative IALIAL American 4 Directors (including the S S TT Canadian 1 Executive Chairman) 7 AA TT Italian 2 Executive Directors 3 EE MM Saudi Arabian 1 Independent EE NN Chinese 1 Non-executive Directors 6 TT SS FF UU RR TT HH EE RR INF INF OROR MM AA TT II Natalie Massenet has dual British and American nationality ONON BOARD SECTOR EXPERIENCE OUR MAJOR SHAREHOLDERS % Engineering 2 Yew Tree Automotive 3 Consortium* 25.32 Luxury brand 6 Public Finance/banking 4 Investment Fund* 17.06 Marketing/ Geely* 16.09 commercial 3 Mercedes-Benz* 8.90 Legal 1 Invesco 3.62 Human Resources 1 Lucid 3.44 * Denotes a major shareholder with Board representation in accordance with the respective Relationship Agreement Some members of the Board have sector experience in more than entered into between the Company and that shareholder. one category ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 74

EXECUTIVE CHAIRMAN’S INTRODUCTION TO GOVERNANCE SS S TRTR In October we announced the appointment of Jean Tomlin as an TR AA Independent Non-executive Director and member of the Nomination A TETE Committee. Jean’s HR background combined with her luxury and TE GG G II I CC automotive sector experience will be of great benefit to the Board and C R R I look forward to working with Jean in the year ahead. R EE E PP P OO O RR BOARD INDEPENDENCE R TT The composition of our Board is unique. With the Board changes T during the year, we now have seven Shareholder Representative GG Directors on the Board. As a result, we no longer meet the G OO independence requirements of the UK Corporate Governance Code. O VEVE However, I am comfortable that this does not present a governance VE RR R NANNAN issue. Our Shareholder Representative Directors are diverse and act NAN independently of one another and all our Independent Non-executive CC C EE Directors are highly experienced. To comply with the independence E requirements of the Code would make our Board unwieldy and we need to maintain the Board at such a size to continue to promote FF F II effective discussion and decision making. I NANNAN NAN CC BOARD DIVERSITY C IALIAL Recognising the unique composition of our Board, our Board Diversity IAL S S LAWRENCE Policy states that we seek to achieve and maintain 40% of Board S TT T AA STROLL positions which are not subject to shareholder appointments to be A TT T EE EXECUTIVE CHAIRMAN held by women. That percentage is currently 50%. Of our total Board E MM M EE positions, 27% are held by women. The Board is committed to E NN N TT achieving and maintaining diversity at Board level and throughout the T SS business and will continue to monitor the progress being made. S DEAR SHAREHOLDER FF F UU I am pleased to introduce the Governance section of this year’s Annual BOARD EVALUATION U RR R TT Report. In this section we provide detail on the Board’s roles and Due to the composition of the Board significantly changing again this T HH H EE responsibilities, an overview of the activities of the Board and our year, we decided to undertake an internal Board evaluation again with E RR R INF INF Committees over the year and our compliance with the UK Corporate the assistance of a third-party provider which assisted with the INF Governance Code. questionnaires and the analysis of the results and provided external OROR benchmark data. More information on our Board evaluation is set out OR MM Our commitment to effective corporate governance supports the on pages 92-93. M AA A TT decisions we make to create long-term sustainable value for the T II I ONON ON benefit of all our stakeholders. Good governance also provides a I would like to thank all the members of the Board for their significant platform for us to achieve cultural change and creates a balance of efforts and valuable contributions during the year and take this accountability and empowerment, in line with our values. opportunity to thank our employees, our customers, our shareholders and all our other stakeholders for your continued support. BOARD CHANGES The composition of our Board has continued to evolve this year. We Yours sincerely, have welcomed two new Shareholder Representatives to the Board. As a result of Geely’s investment in the Company, Daniel Li joined the LAWRENCE STROLL Board in July. Cyrus Jilla joined the Board in October as a representative EXECUTIVE CHAIRMAN of Ernesto Bertarelli, a significant member of the Yew Tree Consortium. Both appointments are an important part of the Company’s relationships with our strategic shareholders and I value the contribution and perspective that Daniel and Cyrus bring to our Board discussions. Antony Sheriff stepped down from the Board at our Annual General Meeting in May to focus on his other directorships and commitments. As a result, Sir Nigel Boardman became our Senior Independent Director. I am very grateful for the support that Sir Nigel provides me in my role as Executive Chairman and his leadership of the Non-executive Directors. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 75

GOVERNANCE BOARD OF DIRECTORS S TR A Leading from TE G I C R the front E P O R T G EXECUTIVE DIRECTORS O VE R NAN C E F I NAN C IAL S T LAWRENCE STROLL AMEDEO FELISA DOUG LAFFERTY A T Executive Chairman Chief Executive OfÏcer Chief Financial OfÏcer E N R W W W M E N Appointed: April 2020 Appointed: May 2022 Appointed: May 2022 T Nationality: Canadian Nationality: Italian Nationality: British S F U R Skills and relevant experience Skills and relevant experience Skills and relevant experience T Lawrence joined the Company as Executive Amedeo was appointed Chief Executive OfÏcer Doug was appointed Chief Financial OfÏcer in H E Chairman after leading the Yew Tree Consortium in May 2022 having previously served on the May 2022. Prior to joining Aston Martin, Doug R investment in the Company in April 2020. Board as a Non-executive Director since July INF was the Chief Financial OfÏcer of FTSE 250-listed Lawrence has a long career of acquiring and 2021. Amedeo brings to the Board his extensive fuel retailer Vivo Energy plc. He previously spent OR building luxury brands including Polo Ralph automotive industry and technical and three years as Chief Financial OfÏcer for Williams M Lauren, Tommy Hilfiger and Michael Kors and commercial experience. Amedeo spent 26 years Grand Prix Holdings plc and 16 years in a wide A brings his wealth of leadership and executive of his career with Ferrari S.p.A in senior range of senior finance and leadership roles at T I experience to the Board. He has also been an management roles, the last eight years of which British American Tobacco. ON active investor in the automotive and motorsport as the Chief Executive OfÏcer. Doug is a member of CIMA and holds a BSc Hons sectors, leading a consortium to acquire the Prior to joining Ferrari, Amedeo was a product in Management Studies from Royal Holloway, Force One India racing F1® team in 2018, which development team leader at Alfa Romeo S.p.A. University of London. was subsequently rebranded as the Aston Martin Amedeo was awarded a degree in mechanical F1® Team. engineering from the Milan Polytechnic External appointments Lawrence is a shareholder representative of the University. – None Yew Tree Consortium. External appointments External appointments – Atop S.p.A (Chairman) – Co-owner Aston Martin Aramco Formula – IMA Group (Senior Advisor to the Chairman) One® Team – AMR GP Services Limited (Director) – AMR GP Limited (Director) – AMR Performance Group Limited (Director) Key Chair  Observer     A Audit and Risk Committee  N Nomination Committee  R Remuneration Committee  S Sustainability Committee W Warrant Share Committee           ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 76

S S TR INDEPENDENT NON-EXECUTIVE DIRECTORS TR A A TE TE G G I I C C R R E E P P O O R R T T G G O O VE SIR NIGEL BOARDMAN ROBIN FREESTONE DAME NATALIE MARIGAY MCKEE, MBE VE R R NAN Senior Independent Independent Non-executive MASSENET, DBE Independent Non-executive NAN Non-executive Director Director Independent Non-executive Director C A N S A N R Director S N C E Appointed: October 2022 Appointed: February 2021 R Appointed: July 2021 E Nationality: British Nationality: British Appointed: July 2021 Nationality: British F Nationality: British/American F I I NAN NAN C Skills and relevant experience Skills and relevant experience Skills and relevant experience Skills and relevant experience C IAL Sir Nigel joined the Board in Natalie brings her wealth of luxury IAL Robin is a qualified chartered Marigay has extensive retail sales, S October 2022 and became Senior accountant, with significant retail sales, marketing and marketing and luxury brand S T Independent Non-executive financial, management, business commercial experience to the experience. In 2018, Marigay T A A T Director in May 2023. Sir Nigel was transformation and diversification Board. Natalie is the co-founder co-founded Fernbrook Capital LLC, T E E M partner at the law firm Slaughter experience within leading UK-listed and managing partner of Imaginary a venture fund based in New York M E E N and May from 1982 until 2019 global businesses. Previously, Robin Ventures, a capital firm focusing on and Los Angeles, specialising in N T specialising in mergers and held a number of senior executive innovations at the intersection of consumer tech. Marigay started her T S acquisitions and corporate advisory retail and technology. Previously, S finance roles in the industrial sector career at Estée Lauder in Europe, and remained a consultant at the Natalie revolutionised luxury retail (1985-2004) with ICI plc, and then joined Harrods in 1999 as F firm until 2022. Sir Nigel was Amersham International plc and when she founded Net-a-Porter in Head of its beauty department. In F U awarded a Knighthood in the Henkel Ltd where he was the Chief 1999, and subsequently, the Outnet her 14 years at Harrods, she spent U R R T Queen’s Birthday Honours List in Financial OfÏcer. He subsequently and Mr Porter growing the group of the last six years as Chief Merchant T H H E June 2022 for services to the legal joined the publishing company brands into one of the world’s most OfÏcer where she developed and E R R INF profession. Sir Nigel is Chair of Help Pearson plc in 2004, the last nine influential fashion businesses. executed a strategic vision to make INF for Heroes, a military veterans years of which he served as its Chief Natalie has also held several Harrods the gold standard for the OR charity, is Trustee and Chair Financial OfÏcer. non-executive and advisory exclusive launch of luxury and OR M designate of The Medical College Robin has wide Non-executive positions as a Director of NuOrder premium brands. In 2013, Marigay M A of Saint Bartholomew’s Hospital Inc (2021), a Director and Co- joined Saks Fifth Avenue in New A T Director experience and was T I I ON Trust, is Trustee Emeritus and previously a Non-executive Chairman of Farfetch Inc (2017- York as its President rebuilding ON member of the audit committee for Director at eChem Limited, Chair of 2020) and the Chairman of British Saks’ luxury launch platform for the British Museum and is Deputy the 100 Group and Senior Fashion Council (2012-2017). new and emerging and Chair of the London Philharmonic Independent Director and Chair of In 2016 Natalie was made Dame international brands. Orchestra. the Audit Committee of Cable & Commander of the British Empire in In the 2022 Queen’s New Year Wireless Communications plc. recognition of her contributions to Honours List, Marigay was awarded External appointments – Arbuthnot Latham (Chair) Robin holds a BA in Economics the UK fashion and retail industry. an MBE in recognition of her – Arbuthnot Banking Group from Manchester University. services to British retail overseas. External appointments (Non-executive Director) – Imaginary Ventures – Mile Group Unlimited (Chair) External appointments External appointments – Glyde Group Unlimited (Chair) – Moneysupermarket.com (Chair (Managing Partner) – Fernbrook Capital LLC (Director) and Nomination Committee – Everlane Inc (Director) – EShopWorld (Advisory Council – EON Group Holdings Inc Member) Chair) – Capri Holdings Limited (Non-executive Director) – The Webster (Board Member) (Lead Director) ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 77

GOVERNANCE BOARD OF DIRECTORS CONTINUED S INDEPENDENT NON-EXECUTIVE DIRECTORS CONTINUED SHAREHOLDER REPRESENTATIVE DIRECTORS TR A TE G I C R E P O R T G O DR. ANNE STEVENS JEAN TOMLIN, OBE MICHAEL DE PICCIOTTO FRANZ REINER VE R Independent Non-executive Independent Non-executive Non-executive Director, Non-executive Director, NAN Director Director Representative of the Yew Tree Representative of Mercedes- A N R S N Consortium Benz AG C Appointed: February 2021 Appointed: October 2023 A W A N R E Nationality: American Nationality: British Appointed: April 2020 Appointed: July 2021 Nationality: Italian Nationality: American F I NAN WORKFORCE ENGAGEMENT Skills and relevant experience Skills and relevant experience Skills and relevant experience C DIRECTOR Jean joined the Board in October Michael is a prominent investor and Franz has been the CEO of IAL 2023 as an Independent businessman who has extensive Mercedes-Benz Mobility AG since S Skills and relevant experience Non-executive Director. experience in investments, June 2019. The company finances T Anne brings to the Board significant A management and finance. and leases every second vehicle T operational, commercial and Jean is the founder and CEO of E transformational experience in delivered by Mercedes-Benz. M Chanzo Limited, a firm that Michael started his career at RBC E global businesses. Anne is an Under his management, N provides consulting, operational Dominion Securities, a global Mercedes-Benz Mobility has T engineer and started her career in delivery and international Canadian investment bank before established itself viable for the S the chemical industry with Exxon recruitment services to major event joining Union Bancaire Privée (UBP), Corporation before moving to and sport sectors. a family-owned Swiss private bank future with its three core financial automotive with the Ford Motor services activities, fleet F Jean served as Director of Human in London and Geneva where he management and digital mobility U Company (1990-2006). During her R Resources of the London worked for 27 years until 2015. solutions. Since joining the T 16-year tenure at Ford, Anne held a During his tenure at UBP, Michael H Organising Committee of the company in 1992, the industrial E number of senior positions, held a number of senior leadership R culminating in her being the Chief Olympic and Paralympic Games positions including responsibility engineer has held various positions, INF from 2006 to March 2013. Jean was including Head of Sales & Operating OfÏcer for the Americas. also the Group HR Director at for UBP’s global financial activities. Marketing and Member of the OR On retiring from Ford, Anne joined He also served as a long-standing Carpenter Technology Corporation Marks & Spencer plc and prior to member of the Executive Board Board of Management for the M that she spent 15 years at private and corporate customer A (2006-2009) as its Chairman, of UBP. T I President and Chief Executive Prudential plc and nine years at business of Mercedes-Benz Bank. ON Ford Motor Company in various In March 2016 Michael became a In 2009, Franz Reiner was appointed OfÏcer. Anne has extensive human resources management large shareholder and the to the Management Board of Non-executive Director experience positions. Vice-Chairman of the Supervisory Mercedes-Benz Mobility – initially and has previously served as Board of Engel & Volkërs AG, a responsible for the Americas Chairman, CEO and Principal of SA External appointments Hamburg-based leading global region, and from 2011 for the IT (2011-2014), as a Non-executive – Chanzo Limited (CEO) real estate group, which was sold in Europe region. Director on the board of XL Group – Capri Holdings Limited August 2021 to the investment fund and Lockheed Martin before joining External appointments GKN plc as a Non-executive (Non-executive Director) Permira. – Hakluyt & Company Ltd – Mercedes-Benz Mobility AG Director where she was briefly CEO In 2018, Michael joined a (CEO and Chairman of the during the hostile takeover by (Non-executive Director) consortium of investors to buy out Melrose plc in 2018. Anne received Board) what would become the Aston – VfB Stuttgart 1983 AG a BS in Materials and Mechanical Martin Formula One team and in Engineering from Drexel University (Supervisory Board Member) 2020 joined the Yew Tree – Mercedes-Benz Leasing in 1980 and was elected to the Consortium in the acquisition of its Deutschland GmbH (Supervisory National Academy of Engineering stake in Aston Martin. in 2004. Board member) Michael studied at the Ecole des – Allianz Global Corporate and Speciality SE (Advisory Council) External appointments Hautes Etudes Commerciales at the – Harbour Energy plc University of Lausanne. (Non-executive Director and External appointments Remuneration Committee Chair) – AMR GP Holdings Limited (Director) – AMR Performance Group Key Limited (Director) Chair  Observer     A Audit and Risk Committee  N Nomination Committee  R Remuneration Committee  S Sustainability Committee W Warrant Share Committee           ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 78

S S TR SHAREHOLDER REPRESENTATIVE DIRECTORS CONTINUED TR A A TE TE G G I I C C R R E E P P O O R R T T G G O O VE AHMED AL-SUBAEY SCOTT ROBERTSON DANIEL LI CYRUS JILLA VE R R NAN Non-executive Director: Non-executive Director: Non-executive Director: Non-executive Director: NAN Representative of the Representative of the Representative of Geely Representative of Ernesto C Public Investment Fund Public Investment Fund A N Bertarelli C E A N R Appointed: 28 July 2023 E Appointed: November 2022 Appointed: November 2022 Nationality: Chinese Appointed: 27 October 2023 F Nationality: Saudi Nationality: American Nationality: British F I I NAN NAN C Skills and relevant experience Skills and relevant experience Skills and relevant experience Skills and relevant experience C IAL Ahmed joined the Board as Scott joined the Board as Daniel joined the Board as Cyrus joined the Board in October IAL S Representative Non-executive Representative Non-executive Representative Non-executive 2023 representing Ernesto S T Director of the Public Investment Director of the Public Investment Director of Geely in July 2023. Bertarelli, a significant member of T A A T Fund in November 2022. Fund in November 2022. the Yew Tree Consortium. T E Daniel is currently the Chief E M M E Ahmed is Chief Executive OfÏcer of He is a Senior Director and the Executive OfÏcer of Geely Holding Cyrus is Group Managing Partner at E N N T Bahri, the National Shipping Head of Public Investments in the Group having joined Geely in April B-FLEXION, a private investment T S Company of Saudi Arabia, which is International Investments Division 2011 as Vice President and Chief firm, overseeing their portfolio of S listed on the Saudi Stock Exchange. at the Public Investment Fund (PIF) Financial OfÏcer. Daniel is also a operating businesses and He was previously the CEO of S-Oil of the Kingdom of Saudi Arabia. member of the Board of Volvo Cars investment partnerships. F F U in South Korea and has held various Prior to joining the Public and Polestar. Prior to joining B-FLEXION, Cyrus U R leading roles in Saudi Aramco, most R T Investment Fund in 2018, Scott was, most recently, a President and T H recently Vice President for External appointments H E worked in various investment OfÏcer at Fidelity International E R Marketing, Sales and Supply – Geely Automotive Holdings Co. R INF Planning. Ahmed holds a BSc and positions at Soros Fund Limited (CEO) Limited (FIL), where he had primary INF Masters degree in electrical Management, Paulson & Co. and – Polestar Automotive Holding UK responsibility for FIL’s proprietary OR engineering from the University of Stonepeak Partners. Scott holds a PLC (Member of the Board) investments. OR M Arizona and an executive MBA from Bachelor of Arts in Economics from – Volvo Car AB (Member of the M A Cornell University, where he External appointments A T Stanford University. Board) T I – B-FLEXION (Group Managing I ON graduated Phi Beta Kappa. – Lotus Technology Inc. (Chairman ON Partner) External appointments of the Board) – Bahri (CEO) External appointments – YTO International Express and – Public Investment Fund Supply Chain Technology (Senior Director) Limited (Independent Non- executive Director) COMPANY SECRETARY Skills and relevant experience variety of legal and company Liz joined Aston Martin as Company secretariat roles and prior to that in Secretary in June 2022. Liz is a private practice at Linklaters. Liz is a solicitor and company secretary Fellow of the Chartered with significant experience of listed Governance Institute. company governance and The Company Secretary provides compliance. advice and support to the Board, its Prior to joining Aston Martin, Liz Committees and the Chairman, and was Company Secretary at is responsible for corporate LIZ MILES Landsec, a FTSE 100 property governance across the Group. Company Secretary investment and development The appointment and removal of company, having previously the Company Secretary is a matter worked at Vodafone Group Plc in a for the Board as a whole. Appointed: June 2022 Nationality: British ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 79

GOVERNANCE EXECUTIVE COMMITTEE S Our Executive Committee is made up of our Executive Chairman, Chief Executive OfÏcer, Chief Financial OfÏcer TR (details of whom are set out on page 76) and the Chief roles set out below. A TE G I C R E P O R T G O MICHAEL STRAUGHAN, MAREK REICHMAN MARCO MATTIACCI VINCENZO REGAZZONI VE R OBE Chief Creative OfÏcer Chief Global Brand and Chief Industrial OfÏcer NAN Executive Consultant Commercial OfÏcer to the CEO Appointed: May 2005 Appointed: April 2023 C Nationality: British Appointed: October 2021 Nationality: Italian E Appointed: December 2020 Nationality: Italian Nationality: British F I NAN Michael joined the business in Marek joined Aston Martin Marco joined the business in Vincenzo is Chief Industrial OfÏcer C December 2020 and having Lagonda in 2005 and is the Chief October 2021 and is the Chief of Aston Martin and was appointed IAL previously served as the Chief Creative OfÏcer responsible for all Global Brand and Commercial in 2023 to oversee all S Operating OfÏcer responsible for design developments for the OfÏcer of Aston Martin Lagonda, manufacturing operations. T A all manufacturing operations for Company. During his professional responsible for all sales and T Working as an advisor to Aston E the Company, is now Executive career he has held design roles at marketing and communications for M Martin prior to his appointment, E Consultant to the CEO. Ford, BMW, Land Rover, Rover Cars the Company. N and Nissan and Chief Designer for Vincenzo has more than two T Michael has over 30 years of the reinvention of Rolls-Royce Marco has over 30 years of decades of experience in the low S automotive experience, holding Motor Cars. Prior to joining Aston automotive experience gained all volume, ultra-luxury automotive senior positions in Nissan, Volvo over the world. Marco spent the segment, including his most recent Martin Lagonda, he was Design F Cars, LDV and Jaguar Land Rover, Director at Ford North America. first ten years of his career at position as Chief Manufacturing U then joining the Board of Bentley R Jaguar Cars in the UK and then OfÏcer of Ferrari. T Motors before becoming the Chief Marek holds a BA in Industrial moved to Ferrari, where he spent H E Operating OfÏcer of luxury yacht Design from Teesside University over 15 years in the roles of CEO of R manufacturer Sunseeker in 2017. and an MDes in Vehicle Design Ferrari North America, CEO of INF from the Royal College of Art, Ferrari Asia Pacific and Managing Michael has a proven track record London. In 2011, Marek received an Director and Team Principal of the OR of delivery, turnaround and honorary doctorate from Teesside Scuderia Ferrari Formula One™ M restructuring, creating shareholder A University. racing team. In 2016, Marco joined T I value. Faraday Future in the USA, as its ON Michael has a BSc in Engineering Global Chief Brand OfÏcer and and is a Fellow of the Institution of Chief Commercial OfÏcer. Upon Engineering and Technology. He leaving Faraday in 2017, Marco received an OBE in the King’s advised automotive clients with Birthday Honours list in 2023 for McKinsey & Company. Services to the UK Automotive Industry. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 80

S S TR TR A A TE TE G G I I C C R R E E P P O O R R T T G G O O VE ROBERTO FEDELI GIORGIO LASAGNI MICHAEL MARECKI SIMON SMITH VE R R NAN Group Chief Technology Chief Procurement OfÏcer General Counsel Chief People ofÏcer NAN OfÏcer C Appointed: January 2023 Appointed: July 2007 Appointed: April 2022 C E Appointed: June 2022 Nationality: Italian Nationality: American Nationality: British E Nationality: Italian F F I I NAN NAN C Roberto is Group Chief Technology Giorgio joined Aston Martin in Michael joined Aston Martin Simon joined Aston Martin C IAL IAL OfÏcer at Aston Martin Lagonda, January 2023 to lead the Lagonda in July 2007 and is the Lagonda in April 2022 as Chief S leading the engineering team, procurement function. Giorgio has General Counsel. Michael is People OfÏcer. S T having joined the Company in June extensive experience of responsible for all legal and T A Simon has extensive HR experience A T 2022. procurement and supply chain regulatory matters for the T E across the engineering and E M management and strategy. Company. M E Roberto is a proven leader in the manufacturing sector, starting his E N N T luxury high-performance sports Giorgio joined Aston Martin from Prior to his current position, career with Peugeot and spending T S cars sector. He is considered the Zoppas Industries S.p.A, an Italian Michael worked for the Ford Motor a significant part of his career at S creator of Ferrari LaFerrari, the heating element company where Company Inc (1988-2007), latterly both Alstom and Rolls-Royce. More Italian company’s first hybrid he was Global Purchasing and as the Assistant General Counsel, recently Simon has held F F U supercar as well as some of its most Supplier Development Director Environment and Safety. transformation and strategy U R iconic models during his 26 year and redesigned the purchasing and R T Michael holds a Juris Doctor from leading HR roles at Johnson T H tenure. supplier development functions. Matthey and Legal and General H E Georgetown University Law Center E R Prior to that Giorgio was at Robur Modular Homes. R INF Roberto brings his extensive S.p.A, and Candy Hoover Group and a Bachelor of Arts from INF knowledge, passion for innovation S.p.A, holding a number of Business Fordham University. Simon is a fellow of the CIPD, is a OR and his most recent experiences in Unit Director and procurement qualified Executive Coach and OR M the implementation of positions. holds a BA Hons in Politics and M A electrification technologies during International Relations from A T T I I ON his time at BMW. Giorgio spent just under eight years Lancaster University. ON Roberto holds a Master’s degree in of his career at Ferrari S.p.A, Aerospace. holding a variety of roles including Purchasing and Supplier Development Director and Ferrari & Maserati Engine Manufacturing Director. Giorgio holds a Master’s degree in Architecture from the Politecnico of Milan. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 81

GOVERNANCE LEADERSHIP AND GOVERNANCE S Leadership and governance Cyrus Jilla representing Ernesto Bertarelli, a significant member of the TR Yew Tree Consortium) joining the Board in 2023. The Board needs to A balance the independence requirement with the overall size of the TE OVERVIEW G I Board in order to ensure that effective discussion and decision making C This Report sets out the Board’s corporate governance structures and is facilitated. The Board is now comprised of 15 Directors and the R work from 1 January 2023 to 31 December 2023. Together with the E Board has concluded, upon recommendation of the Nomination P Directors’ Remuneration Report on pages 108-122, it includes details O Committee, that to add further Independent Non-executive Directors R of how the Company has applied and complied with the principles and T could negatively impact the Board’s effectiveness. The Board is provisions of the 2018 UK Corporate Governance Code (the “Code”). confident that the independent decision making of the Board is not The Code is published by the Financial Reporting Council (“FRC”) and impacted by its Board composition as the Shareholder Representatives G further information can be found on its website (www.frc.org.uk). The are diverse and act independently of one another and the Independent O Code is supported by the FRC’s Guidance on Board Effectiveness, Non-executive Directors are all highly skilled and experienced. The VE which the Board uses to support its approach to governance and R decision-making. composition of all the Board Committees are compliant with the NAN independence requirements of the Code. C COMPLIANCE WITH THE UK CORPORATE GOVERNANCE Code provision 21 recommends that the chair should consider having E CODE a regular externally facilitated board evaluation. In FTSE 350 The Code requires companies to describe in their annual report how F companies this should happen at least every three years. I they have applied the main principles of the Code and also any areas The Board evaluation was due to be externally facilitated in 2021 but NAN where companies do not comply with the Code provisions. The with the extensive number of Board changes in the year it was C Directors consider that the Company has been compliant with the IAL considered that this would be of limited benefit. Due to more Board Code provisions as applied during the year ended 31 December 2023, S changes in 2022, with a new Chief Executive OfÏcer, a new Chief other than the exceptions as set out below. It is noted that the T Financial OfÏcer, a new Independent Non-executive Director and two A composition of the Board is impacted by the rights of the significant T new Shareholder Representative Directors joining the Board, the E shareholders under their respective Relationship Agreements (see the M Board concluded once again there would be little value in an externally E Directors’ Report, page 126). N facilitated evaluation. Therefore it was agreed that a rigorous internal T evaluation would be carried out for 2022, with the assistance of a S Code provision 9 recommends that the chair should be independent third-party survey which provided a platform for more meaningful on appointment. Lawrence Stroll assumed the position of Executive F Chairman in April 2020 and was not independent on appointment as analysis of results. Due to the further changing dynamics of the Board U R during 2023 with two more Shareholder Representatives joining the T he is a member of the Yew Tree Consortium, a major shareholder. His H Board and a new Independent Non-executive Director, the Board E appointment was a condition of the Yew Tree Consortium’s investment R in the Company and was in accordance with the Relationship concluded to repeat an internal evaluation in 2023 using the same INF Agreement entered into between the Company and the Yew Tree third-party platform for the survey. Further details can be found on Consortium. The Nomination Committee and the Board consider that pages 92-93. During 2024, the Board will take a decision, upon the OR recommendation of the Nomination Committee, as to the best M Lawrence Stroll has demonstrated objective judgement throughout A method of Board evaluation for 2024, taking all relevant factors at T I his tenure and him continuing in the role of Executive Chairman for the the time into account. ON foreseeable future is in the best interests of the Group and its stakeholders in order to utilise his proven leadership qualities and his EFFECTIVE BOARD AND ITS ROLE significant experience in building luxury brands. He has offered himself The Board is composed of highly skilled professionals who bring a for re-election every year since his appointment and shareholders range of skills, perspectives and corporate experience to the Board. have overwhelmingly voted in favour of his re-election. In the Board’s The Directors and their biographies and skills and experience are set opinion, the Company’s governance checks and balances are strong out on pages 76-79. Details of the changes to the Board during 2023 and effective: are set out on page 75. At the date of this Report the Board comprised – the Executive Chairman is subject to challenge from the Company’s 15 members: the Executive Chairman, the Chief Executive OfÏcer, the Senior Independent Director, the Executive Directors and the Chief Financial OfÏcer and 12 Non-executive Directors, of whom six are considered independent for the purposes of the Code. Independent Non-executive Directors; and – there is a clear division between the responsibilities of the The Directors are appointed by the Board and are subject to annual Executive Chairman, the Senior Independent Director, the Executive Directors and the Independent Non-executive Directors, re-election by shareholders. The Company’s significant shareholder which ensures accountability and oversight. groups, in line with the respective Relationship Agreements, have nominated Directors who have been appointed to the Board; further Code provision 11 recommends that at least half the Board, excluding details of these arrangements are set out on page 126 of the Directors’ the Chair, should be independent. Excluding the Chair, 43% of Report. The Board is satisfied that there is a sufÏcient balance between the Board is independent which falls below the recommended Executive and Non-executive Directors on the Board to ensure that threshold of the Code. This was as a result of two further no one individual has unfettered decision-making powers and that Shareholder Representatives (Daniel Li representing Geely and Directors are able to discharge their duties and responsibilities. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 82

S S TR GOVERNANCE FRAMEWORK THE BOARD’S TERMS OF REFERENCE STATE THAT IT TR A The Company’s corporate governance framework is set out on pages A TE 85-87 and provides an overview of the roles of the Board, its MUST CONSIDER AND APPROVE THE FOLLOWING: TE G G I I C Committees and members of the Executive Committee which The Group’s strategic aims, objectives and commercial strategy C R provides clear lines of accountability and responsibility. The Board R E E P and its Committees have established terms of reference that set out P O Review of performance relative to the Group’s business plans and O R specific responsibilities and matters for approval. The terms of budgets R T reference are available for review on the Company’s website at T www.astonmartinlagonda.com. Reports from each of these Major changes to the Group’s corporate structure, G Committees are provided in this governance report. including acquisitions and disposals G O O VE VE R A total of ten Board meetings were held during the year: six The system of internal controls and Risk Management Policy R NAN scheduled and four unscheduled. Attendance is set out below. NAN 1 Major changes to the capital structure including tax and treasury Lawrence Stroll 10/10 C management C E Amedeo Felisa2 9/10 E Major changes to accounting policies or practices F Doug Lafferty 10/10 F I I NAN Financial statements and the Group dividend policy including NAN 3 Ahmed Al-Subaey 8/10 C any recommendation of a final dividend C IAL Sir Nigel Boardman4 9/10 IAL S The Group’s corporate governance and compliance arrangements S T 5 T A Michael de Picciotto 9/10 A T T E The Group’s risk appetite E M M E Robin Freestone 10/10 E N N T T S 6 S Natalie Massenet 6/10 Marigay McKee 10/10 In instances where unscheduled Board meetings were called upon F F U short notice, following the meeting the Company Secretary updated U R 7 R T Franz Reiner 9/10 any Board members unable to attend and the Directors were invited to T H H E provide any comments or observations to the Executive Chairman. E R Scott Robertson 10/10 R INF INF Anne Stevens8 9/10 An agenda and accompanying pack of detailed papers are circulated OR to the Board in advance of each Board meeting. All Directors are able OR M to request additional information on any of the items to be discussed. M A New Directors A T Additionally, Directors have access to the advice and services of the T I 9 I ON Daniel Li 1/3 Company Secretary and independent and professional advice at the ON Cyrus Jilla 3/3 Company’s expense should they determine that this is necessary to discharge their duties. Jean Tomlin 3/3 All Board and Committee meetings are minuted and formally Former Directors approved at the next meeting. Board minutes contain details of the 10 Antony Sheriff 2/3 Directors’ decision-making processes and any follow-up actions or concerns raised by the Directors. The Executive Chairman works closely with the Company Secretary to plan and schedule Board and 1 Lawrence Stroll was recused from one meeting due to a conflict of interest. Committee meetings and to make quality information available in 2 Amedeo Felisa missed one unscheduled Board meeting due to the meeting being called at very short notice. a timely fashion. 3 Ahmed Al-Subaey missed two unscheduled Board meetings due to the meetings being called at very short notice. 4 Sir Nigel Boardman missed one unscheduled Board meeting due to the meeting DISCLOSURE COMMITTEE being called at very short notice. 5 Michael de Picciotto missed a scheduled Board meeting in December due to The Board delegates responsibility for the final approval of its financial disrupted travel. He was also recused from one meeting due to a conflict of interest. results disclosures and Annual Report to the Disclosure Committee. 6 Natalie Massenet missed three unscheduled Board meetings due to the meetings being called at very short notice and the Board Strategy Day due to personal The Disclosure Committee is also responsible for the identification circumstances. and disclosure of inside information. The Disclosure Committee is 7 Franz Reiner missed one unscheduled Board meeting due to the meeting being called at very short notice. 8 Anne Stevens missed one unscheduled Board meeting due to the meeting being chaired by the Chief Financial OfÏcer with the Chief Executive OfÏcer, called at very short notice. General Counsel, Company Secretary, Head of Investor Relations, 9 Daniel Li missed one unscheduled Board meeting due to the meeting being called at Director of Internal Audit & Risk, Group Financial Controller and very short notice and one scheduled Board meeting due to other commitments the Director of Financial Planning & Analysis as members of which were pre-existing prior to Daniel joining the Board. 10 Antony Sheriff was absent for one scheduled Board meeting. the Committee. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 83

GOVERNANCE LEADERSHIP AND GOVERNANCE CONTINUED SS GOVERNANCE STRUCTURE TRTR AA THE BOARD TETE GG II CC The role of the Board is to promote the long-term success of the Company, generating value for shareholders and contributing to wider society by providing R R EE effective leadership and direction to the business as a whole. It sets the Group’s strategy and ESG strategy, having regard to stakeholders, while maintaining a PP OO balanced approach to risk within a framework of effective controls. It has also established the Company’s purpose and values and monitors culture to ensure RR TT alignment. It sets the tone and approach to corporate governance and is responsible for the overall financial performance of the Group. GG OO BOARD COMMITTEES VEVE RR NANNAN Nomination Committee Audit and Risk Committee Warrant Share Committee Remuneration Committee Sustainability Committee CC Reviews Board composition Oversees the Group’s Responsible for approval Determines the Directors’ Oversees the Company’s EE and diversity, proposes new financial reporting and of the allotment and the Remuneration Policy and ESG strategy and broader Board appointments and reviews the integrity of the issue of Warrant Shares in sets remuneration for stakeholder engagement on reviews succession planning Group’s Financial Statements, accordance with the terms of the Executive Chairman, behalf of the Board. FF II and talent development. the adequacy and the Warrant Instrument. The Executive Directors and NANNAN effectiveness of the Group’s Warrant Share Committee Group Executive Committee CC systems of internal control meets as required. For taking into account wider IALIAL and risk management, and information on warrants Group remuneration policies. S S maintains the relationship exercised during the year, see Approves performance- TT AA with the External Auditor. page 206. linked pay schemes and share TT EE incentive plans. MM EE NN TT SS EXECUTIVE COMMITTEE FF UU RR The Board delegates the execution of the Company strategy and the day-to-day running of the business to the Executive Committee. TT HH The Executive Committee meets twice a month. One meeting is focused on operations and the other meeting is focused on performance. EE RR INF INF OROR TRANSACTION COMMITTEES OF THE BOARD Relationship Agreements MM AA For practical reasons, the Board delegated authority for final approval At the start of the financial year, the Company had three groups of TT II of the Geely investment, the placing and the Lucid strategic supply ONON significant shareholder, the Yew Tree Consortium, Mercedes-Benz AG arrangement to a Transaction Committee of the Board consisting of and the Public Investment Fund. In May 2023, Geely became a Lawrence Stroll, Sir Nigel Boardman, Doug Lafferty and Michael de significant shareholder. The relationships between the Company Picciotto. The Transaction Committee met a total of seven times to and each of these significant shareholder groups are governed by discuss and ultimately approve these transactions. separate Relationship Agreements. The purpose of these Relationship Agreements is to ensure that the Company can carry on its business INDEPENDENCE OF THE BOARD independently and for the benefit of shareholders as a whole. The Board has identified which Directors are considered to be independent on pages 77-79. As at 31 December 2023, 43% of the Each of the Relationship Agreements provides that each significant Board (excluding the Chair) are Independent Non-executive Directors. shareholder group is entitled to nominate Director(s) to the Board and The Independent Non-executive Directors play an important role in the Nomination Committee and an observer to each of the ensuring that no individual or group dominates the Board’s decision- Remuneration and Audit and Risk Committees subject to the size of its making. The Board has reconfirmed that the Independent Non- interest in the voting rights of the Company. The Relationship executive Directors remain independent from executive management Agreements also provide that the Company will not take any action in and free from any business or other relationship which could materially relation to certain significant matters without the prior approval of at interfere with the exercise of their judgement. For further information least two-thirds of members of the Board present and entitled to vote. on independence of the Board please refer to pages 95-96 in the Further information on the Relationship Agreements is set out in the Nomination Committee Report. Directors’ Report on page 126. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 84

SS S TRTR DIVISION OF RESPONSIBILITIES TR AA There is clear division between Executive and Non-executive responsibilities which ensures accountability and oversight. The roles of Chairman A TETE TE GG and Chief Executive OfÏcer are separately held and their responsibilities are well defined, set out in writing and regularly reviewed by the Board. G II I CC C R R R EE E PP P OO O RR EXECUTIVE CHAIRMAN CHIEF EXECUTIVE OFFICER R TT The Executive Chairman, Lawrence Stroll, is responsible for T The Chief Executive OfÏcer, Amedeo Felisa, is responsible for leading and managing the business of the Board primarily developing, implementing and delivering the agreed strategy GG focused on strategy, performance, value creation and and for the operational and strategic management of the G OO accountability, setting and sustaining the culture and purpose Company. He is also responsible for supporting Directors’ O VEVE VE of the Company and ensuring the Board’s overall effectiveness, induction into the business by providing the necessary RR R NANNAN governance and Director succession planning. He also ensures resources for developing and updating their knowledge and NAN the effective communication between the Board, management, capabilities concerning the Company, including access to CC shareholders and the Company’s wider stakeholders. Company operations and members of the workforce. C EE The Executive Chairman works collaboratively with the E Chief Executive OfÏcer, Amedeo Felisa, in constructively FF challenging and helping to develop proposals on strategy, F II I NANNAN setting the Board agenda and ensuring that any actions agreed NAN CC by the Board are effectively implemented. C IALIAL IAL S S S TT T AA A TT T EE E MM M EE E NN N TT T SS CHIEF FINANCIAL OFFICER SENIOR INDEPENDENT DIRECTOR S The Chief Financial OfÏcer, Doug Lafferty, is a member of the The Senior Independent Director, Sir Nigel Boardman, supports Executive Committee team and reports to the Chief Executive the Executive Chairman in his role and leads the Non-executive FF F UU OfÏcer. His role is to lead the financial management, risk, Directors. The Senior Independent Director is also available as U RR R TT investor relations and internal control teams and to oversee the an additional point of contact for shareholders. T HH H EE Company’s relationship with the investment community. E RR R INF INF INF OROR OR MM M AA A TT T II I ONON ON WORKFORCE NON-EXECUTIVE DIRECTOR COMPANY SECRETARY The designated Non-executive Director gathering the views of The Company Secretary, Liz Miles, acts as secretary to the the workforce during the year was Anne Stevens. Views are Board and each of the Committees. She is responsible for gathered by attendance at key employee and business events, supporting the Executive Chairman and the Board in delivering reviewing the outcome of employee surveys and monitoring the Company’s corporate governance agenda. the effectiveness of employee engagement programmes. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 85

GOVERNANCE BOARD ACTIVITIES S Board activities TR A AYAnnual General Meeting TE The Board met during the year for six scheduled Board meetings, M G Annual General Meeting of shareholders held I C including a Board Strategy Day and an additional four unscheduled providing an overview of 2022 financial and R meetings. The four unscheduled Board meetings, were convened to E operational performance. P discuss the investment in the Company by Geely, the placing and O R repayment of debt and the strategic arrangement with Lucid. Articles of Association amended to allow T Transaction Committees of the Board were established to discuss general meetings, including annual general these transactions in further detail and the Board delegated authority meetings to be held electronically as well as G to the Transaction Committee to provide final approval for the physically. O transactions. VE R At every Board meeting the Board receives a report from the CEO Q1 Results NAN updating it on brand, marketing, communications and sales, – Approval of the Q1 results announcement C operations, procurement, engineering and people. The CFO also and investor presentation E – Update on Geely proposed investment provides a report at every meeting on latest financial performance. The Chairs of the Committees update the Board on significant – Plans for Annual General Meeting F I matters discussed at their Committees. NAN C The Board’s key activities during the year are set out over the next IAL two pages. The Company’s Section 172 Statement can be found on S pages 28-29. T A T E Board attendance for 2023 is set out on page 83. M E N T S 2023 F U R T H E R INF RYFull year results AYInvestment by Geely A M U – Approval of preliminary results The Board approved investment by Geely OR R B announcement, including going concern to become the third largest shareholder M E F A and viability analysis in Aston Martin and entry into a Relationship T I – Approval of Investor Presentation Agreement between the Company and ON – Approval of Annual Report Geely which provided Geely with a right to nominate a Shareholder Representative Director to the Board. Board Strategy Day The Board met in Gaydon for in-depth discussions with management on brand and product, engineering, procurement, manufacturing, people, ESG and finance. The Board also enjoyed a design studio tour and a tour of the factory. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 86

S S TR TR A A TE Strategic arrangement with Lucid TE G UNE G I J The Board approved the Company entering into a strategic supply I C C R agreement with Lucid to support its future battery electric vehicle, R E E P subject to shareholder approval and the satisfaction of certain P O O R regulatory and other conditions. R T T Related to this, the Board approved an amendment and restatement of G the Strategic Co-operation Agreement with Mercedes-Benz AG, under G O which the original agreement to issue additional Aston Martin shares to O VE Mercedes-Benz in exchange for access to further technology was VE R R NAN replaced with a restated commitment to the existing strategic NAN collaboration allowing the parties to discuss future access to C technology for cash. C E ERQ3 results E OB– Approval of Q3 results announcement Capital Markets Day T F C F I and presentation I NAN Aston Martin’s senior management team showcased its exciting new O – Approval of part repayment of second NAN and upcoming product range and gave presentations covering C lien debt C IAL operational excellence, supplier strategy, sustainability, vehicle – Government affairs strategy update IAL S platforms, electrification, commercial strategy and branding. – Approval of 2023/24 insurance programme S T T A A T T E E M M E E N N T T S S F F U U R R T T H H E E R R INF LYHalf year results ER Governance and INF U B J OR – Approval of half year financial results M preparations for year end OR E M announcement and investor presentation C M A DE – Reviewed and adopted revised Committee A T – Update on Lucid transaction T I I ON Terms of Reference and Matters Reserved ON for the Board – Conducted the annual Board evaluation in respect of the effectiveness of the Board and its Committees and discussed the output of the review R General Meeting to approve MBE E Lucid transaction PT Shareholder meeting to approve the related SE party transaction and issue of shares to Lucid. This was the first General Meeting to be held virtually following the amendment to the Company’s Articles of Association at the AGM in May. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 87

GOVERNANCE BOARD ACTIVITIES CONTINUED S TR R A Board visit to the TE MBE G I EMonza Grand Prix C PTIn September, the Board met informally at the R SE E Monza Grand Prix. The Board enjoyed two P O days at the track and a Board dinner on the R Saturday evening. T Spending time with other G O VE members of the Board informally R NAN is extremely valuable to build relationships and understanding C E of individual Board members’ skills and experience” F I NAN NON-EXECUTIVE DIRECTOR C IAL S T A T E M E N T S F U R T H E R INF OR M A T I ON ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 88

BOARD AND WORKFORCE ENGAGEMENT S S TR Board and TR A A TE TE workforce engagement G G I I C C R R E E P P O O R R T H T RCBoard/Employee A G M coaching sessions G O In conjunction with International Women’s Day O VE VE in March, members of the Board offered their R R NAN time for 1-1 coaching sessions with employees NAN of all levels. This was a great opportunity for C employees to hear about Board members’ C E careers and experiences and to gain some E tips on how to navigate the challenges and F F I opportunities of the corporate world. I NAN NAN C It also enabled the Board members involved C IAL to get an insight into employee experience at IAL S Aston Martin and a sense of culture. S T T A A T T E E M M E E N N T T S S 2024 F F U U R R T T H H E E R R INF AY Board Strategy Day 24 Designated workforce INF M 0 OR Holding the Board Strategy Day at Gaydon in 2 Non-executive Director OR M May allowed the Board to engage with a CH M R With effect from March 2024, Jean Tomlin A A A T number of employees below Executive T I M has taken over from Anne Stevens as our I ON Committee level, many of these individuals designated Workforce Non-executive ON formally presenting to the Board and there was Director. We are working with Jean to also time to informally meet with the Board. establish a programme of Board/employee engagement events for 2024 which we will During the tours of the Design Studio and report on in next year’s report. For further Factory, the Board was able to see employees in information on workforce engagement see their work environment and ask any questions. pages 50-53. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 89

GOVERNANCE INVESTOR ENGAGEMENT S SHAREHOLDER ENGAGEMENT MAIN METHODS OF ENGAGEMENT WITH TR The Board is committed to maintaining good communications with A existing and potential shareholders. Shareholders play a valuable role in SHAREHOLDERS IN 2023 TE G Shareholder consultation I safeguarding the Group’s governance through, for example, the annual C re-election of Directors, monitoring and rewarding their performance and The Executive Chairman, Chief Executive OfÏcer and Chief R Financial OfÏcer met a large number of shareholders after each E engagement and constructive dialogue with the Board. The Group aims to P financial results announcement. The Executive Chairman has also O be as transparent as possible with the information it provides to investors engaged with institutional shareholders to discuss the Company’s R and welcomes face-to-face interaction, as well as virtual meetings and performance and Board governance matters and communicated T conferences. their views to the Board. The Company will always seek to engage with shareholders when considering material changes to either our Board, strategy or remuneration policies. G The Board’s primary contact with existing and prospective institutional O shareholders is through the Head of Investor Relations who is responsible Investor meetings VE The Company held almost 230 investor meetings with almost 170 R for all primary contact with shareholders, potential investors and equity individual existing and potential investors and analysts. These were a NAN research professionals. The Executive Chairman, Chief Executive OfÏcer blend of physical and virtual meetings. The meetings were attended by a combination of the Executive Chairman, Chief Executive C and Chief Financial OfÏcer provide regular engagement support together E with other executive management team members. Details of shareholder OfÏcer, Chief Financial OfÏcer and Investor Relations team and engagement activities in 2023 are set out in the table opposite. some members of the Executive Committee. The Head of Investor Relations was a regular Board attendee to provide feedback from F I these meetings and updates on other market matters. In June a NAN There is a regular programme of meetings with major institutional number of investors and analysts met the management team at a shareholders to consider the Group’s performance and prospects. The Capital Markets Day at Gaydon, to see at first hand the Company’s C Group’s investor reach is global, and the Company liaised with investors in progress towards its medium-term targets, and progress on its IAL the UK, USA, Canada, France, Italy, Germany, Switzerland, Ireland, the product and electrification strategy. For further information about S this investor visit, please see page 91. T Netherlands, Norway, Hong Kong, Singapore, Malaysia, South Africa A Investor presentations T and Australia during the last financial year. E The Group hosted virtual webcasts for all reported results and M E market updates and took questions from investors and analysts N ensuring an open dialogue with the market. In addition, investor T roadshows were held following the full year and half year results. S Investor conferences The Investor Relations team presented to investors at six conferences F GEOGRAPHIC DISPERSION % U during 2023, with the Chief Financial OfÏcer attending five of them, R T leading group and 1 on 1 meetings about the Company. H UK 10.8 E General meetings R Europe (ex UK) 16.3 The AGM provides an opportunity for private shareholders in INF North America 38.0 particular to question the Directors and the Chairs of each of the Asia 34.0 Board Committees. Information on the 2024 AGM is on page 208. OR Rest of World 0.1 The Notice of AGM is issued at least 20 working days in advance M A Unknown 0.8 of the AGM date, to provide shareholders with the appropriate T I time to consider matters, as set out in the FRC’s Guidance on Board ON Effectiveness. A further General Meeting was held in September 2023 to approve the related party transaction and issue of shares to Lucid. Annual Report The Company’s Annual Report is available to all shareholders. Through our electronic communication initiatives, we look to make our Annual Report as accessible as possible. Shareholders can opt to receive a hard copy in the post or PDF copies via email or from our website. SHAREHOLDER TYPES % Corporate website The corporate website, www.astonmartinlagonda.com, has a Corporate stakeholders 53.8 dedicated Investors section which includes our Annual Reports, Foreign institutions 30.2 results presentations (which are made to analysts and investors at Private stakeholders/ the time of the interim and full year results) along with all results and other regulatory announcements as well as further information for investors 0.1 investors including our financial calendar for the upcoming year. Domestic institutions 6.3 Senior Independent Director Hedge funds 0.7 If shareholders have any concerns, which the normal channels of Domestic brokers 4.4 communication to the Chief Executive OfÏcer, Chief Financial OfÏcer Foreign brokers 3.8 or Executive Chairman have failed to resolve, or for which contact is Employees etc 0.2 inappropriate, then our Senior Independent Director is available to Unknown 0.5 address them. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 90

S S TR TR A A TE TE G G I I C C R R E E P P O O R R T T G G O O VE VE R R NAN NAN The event marked the C beginning of a new era where C E E the Company now has a F competitive and up-to-date F I I NAN NAN GT/Sports and SUV portfolio” C C IAL CAPITAL MARKETS DAY ATTENDEE IAL S S T T A A T T E E M M E E N N T T S S F F U U R R T T H H E E R R INF INF UNECapital Markets Day in Gaydon OR J In June, the Company hosted a Capital Markets Day at its OR M headquarters in Gaydon for institutional investors and M A A T sellside analysts. The Company’s senior management T I I ON team showcased its exciting new and upcoming product ON range and gave presentations covering operational excellence, supplier strategy, talent management, sustainability, vehicle platforms, electrification, commercial strategy and branding. The Company confirmed that The day included presentations from and opportunities for it expects to substantially achieve Q&A with the Executive Chairman, Chief Executive OfÏcer, its 2024/25 financial targets in Chief Financial OfÏcer, Chief Global Brand & Commercial OfÏcer, Chief Technology OfÏcer, Chief Creative OfÏcer 2024, which aims to deliver and Head of Product and Market Strategy. c. £2bn in revenue and c. £500m Participants were provided with a hands-on opportunity of adjusted EBITDA by 2024/25.” with upcoming products, Gaydon’s bespoke Q personalisation experience, and further details on the Company’s strategic suppliers and partners over the next five years, including the strategic supplier agreement with Lucid for its electrification strategy. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 91

GOVERNANCE BOARD AND COMMITTEE EVALUATION S Board and Committee evaluation TR A TE G I C The Board recognises the importance of continually monitoring and Two improvements were introduced during the year to increase the R E improving its performance. The annual performance evaluation flow of information from management to the Board. The Chairman P O provides the opportunity for the Board to reflect on the effectiveness hosted informal update calls on occasions when there was a longer R of its activities, its decision making, the contribution of individual gap between Board meetings and the CFO circulated a monthly T members of the Board and how it operates as a whole. finance dashboard to keep the Board updated on financial performance. This enhanced communication flow was welcomed G In line with the recommendations of the Code, the 2021 evaluation by the Board. O VE process should have been the Company’s first externally facilitated R evaluation. However, the Board concluded, given the appointment of AREAS OF EXCELLENCE IDENTIFIED FROM NAN all the Independent Non-executive Directors to the Board during the 2023 EVALUATION C year, that an externally facilitated evaluation was unlikely to provide E any benefit. The Board has the knowledge and experience required to support delivery of the strategy. F Given the further significant changes to Board composition during I NAN 2022, including a new Chief Executive OfÏcer, Chief Financial OfÏcer, The Board is confident that the Company has the right strategy two Shareholder Representative Directors and one Independent Non- C executive Director, last year the Board took the decision that an to fulfil its purpose. IAL external evaluation for 2022 would again not be of value. Therefore, S There is good alignment between the Board and the T the Board agreed to carry out a more rigorous internal evaluation, A management team regarding core strategic priorities T using BoardClic, a third-party (with no connection to the Company or E M the individual Directors) platform to assist with the provision of the E N questionnaire and analysis of results. With the continuing changes of T Board dynamics in 2023, two new Shareholder Representative Overall, it was the collective view of the Directors that the Board S is effective in discharging its responsibilities, operating with an open appointments and an additional Independent Non-executive Director, culture that allows challenge and debate. F the Board concluded to repeat the internal evaluation using the same U R third party provider for the 2023 evaluation. The benefit of using this T AREAS IDENTIFIED FROM THE EVALUATION WHICH H third-party platform was that it enabled the data to be broken down E COULD ENHANCE THE BOARD’S EFFECTIVENESS R between Executive Directors, Independent Non-executive Directors INF and Shareholder Representative Directors so that alignment between IN 2024 the three groups of directors could be assessed. It also enabled OR the results to be benchmarked against the results of other FTSE Balance of strategy and operational discussions M A companies. Using the same survey for 2023 as for 2022 allowed a Carefully monitor the balance of time spent at the Board T I comparison of results year-on-year which provided additional value. discussing operational matters as opposed to strategic matters ON The conclusions of the evaluation were very positive, concluding that Succession planning More focus on succession planning for key roles in the the Board is highly effective and there is alignment between the views of the Shareholder Representative Directors, Independent Directors management team and Executive Directors. Governance The provision of more concise and timely Board papers should facilitate more effective and focused discussion at Board meetings. This is particularly important given the size of the Board to ensure that there is sufÏcient time for all Board The Chairman is doing an excellent members to engage in discussion and debate job of pushing our business Board interaction forward with investments in people It is appreciated by the members of the Board that as the Board and product, positioning us for has grown in size, it is more challenging to hold meetings in person. However, the Board would welcome more in person growth today and in the future.” interaction, both in formal meetings and informally in the year NON-EXECUTIVE DIRECTOR ahead These suggestions will be addressed in the year ahead and progress made will be reported in the 2024 report. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 92

S S TR OUTPUTS OF THE 2022 BOARD EVALUATION AND PROGRESS MADE TR A The output of last year’s internal evaluation and progress made is set out below. A TE TE G G I I C BOARD EVALUATION OUTPUT 2022 C R R E E P P O O R Strategy Risk Succession planning Culture and purpose R T More time for focused discussion More discussion time on risk More focus on succession Continue to monitor progression T by the Board on strategy would would be beneficial. planning for key roles in the of cultural change and talent G enhance effectiveness of the management team. development. G O O VE Board to help drive the strategy VE R forward. R NAN NAN C PROGRESS MADE DURING 2023 C E E F The Board held a strategy day in The Audit and Risk Committee The Nomination Committee has The Board received regular F I I NAN May to discuss strategy for all has oversight of risk appetite and focused on succession planning updates on equity, diversity and NAN C aspects of the business. management and significant for management and reported inclusion activities, monitored C IAL Progression on execution of areas of risk are further discussed back to the Board. The Board attrition rates and trends, IAL S strategy is discussed at every at the Board. Transaction acknowledges that more focus on reviewed the output of employee S T Board meeting and the balance Committees of the Board were succession planning for all engagement and learning and T A A T T E between strategic and utilised for the Board’s significant management roles will continue development initiatives. The E M M E operational discussions at Board decisions to ensure that in the year ahead. Board intends to increase its E N N T meetings is monitored closely. associated risks were discussed. focus further on culture and T S employees in the year ahead. S F F U U R R T T H H E E R R INF The Board is large but is well INF OR OR M managed and represents diverse M A A T T I I ON groups. The skill set of the ON Independent Non-executive Directors is high and the Shareholder Representative Directors are diverse and act independently of one another.” INDEPENDENT NON-EXECUTIVE DIRECTOR ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 93

GOVERNANCE NOMINATION COMMITTEE REPORT S Nomination Committee Report DEAR SHAREHOLDER TR On behalf of the Nomination Committee I am pleased to present the A Committee’s Report for the year ended 31 December 2023. The TE G I Report details the role of the Committee and describes how the C Committee has carried out its responsibilities during the year. R E P O BOARD COMPOSITION AND APPOINTMENTS R During the year, the Committee oversaw the process for the T appointment of Jean Tomlin as an Independent Non-executive Director. Jean has also joined the Nomination Committee and I know G that given Jean’s HR background, she will be a very valuable addition O to the Committee. VE R NAN The Committee has carefully monitored the composition of the Board C as it has evolved over the year and debated the impact that the E additional two Shareholder Representative Director appointments has on the overall independence of the Board. The Committee F concluded that meeting the independence requirements of the UK I Corporate Governance Code needed to be balanced with not NAN increasing the Board to such a size that could become unwieldy and C IAL LAWRENCE hinder effective debate and decision making. The Board does not therefore currently meet the independence requirements of the Code. S T STROLL However, the Committee is satisfied that the Shareholder A T CHAIR, NOMINATION COMMITTEE Representatives act independently of one another and of management E M and the powers of decision making are unfettered. E N T DIVERSITY S 2023 OVERVIEW The Board remains committed to increasing and maintaining diversity F in the broadest sense, not just gender and ethnicity but also experience, U – Assessment of composition and independence of the Board R skills and professional background and on this basis our Board is very T – Appointment of Jean Tomlin as Independent Non-executive H diverse. This is important as diversity at Board level sets the tone for E Director and member of Nomination Committee R – Appointment of Sir Nigel Boardman as Senior Independent diversity throughout the business. Diversity brings new ideas and INF Director and member of Sustainability Committee fresh perspectives and will position us to achieve our strategy and – Appointment of Marigay McKee to Nomination Committee long-term growth. OR M A In terms of gender diversity, our Board Diversity Policy reflects the T I Nomination Committee membership unique composition of our Board and sets the Company’s target to ON Committee members Meeting attendance achieve and maintain at least 40% of members of the Board who are Lawrence Stroll (Chair) 5/5 Sir Nigel Boardman 5/5 not Shareholder Representatives as female. Currently 50% of our Robin Freestone 5/5 Board, excluding Shareholder Representatives, are female which is Marigay McKee 3/3 above our target. 27% of the whole Board (Executive Directors, Jean Tomlin 1/1 Shareholder Representatives Directors and Independent Directors) Anne Stevens 5/5 are female. Franz Reiner 5/5 Scott Robertson 5/5 The Board recognises that the gender balance across the leadership 1 positions in the Company remains an area for further improvement, Daniel Li 0/2 and the Company has set itself a target that at least 30% of leadership positions will be occupied by women by 2030. LOOKING AHEAD In 2024, the Committee will continue to focus on succession planning for the executive and senior management positions together with promoting diversity of the senior management in the Company and the Board. I look forward to reporting on our further progress in 2024. LAWRENCE STROLL CHAIR, NOMINATION COMMITTEE 1 Daniel Li was unable to attend due to pre-existing commitments having only 27 February 2024 joined the Board in July 2023 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 94

S S TR ROLE AND RESPONSIBILITIES OF THE COMMITTEE The Committee meets at least twice a year and has formal terms TR A The Committee’s role is to provide oversight of the leadership needs of reference which can be viewed on the Company’s website, A TE of the business, both Executive and Non-executive, with a view to www.astonmartinlagonda.com. TE G G I I C ensuring the continued ability of the Company to compete effectively C R in the marketplace, to implement the strategy and achieve the R The Committee met five times during 2023. The Committee members‘ E E P Company’s objectives. The Committee takes into account the attendance for the period is set out on page 94. Committee meetings P O O R challenges and opportunities facing the Company and the skills, usually take place prior to a Board meeting. The activities of the R T experience and knowledge required for the future. Committee and any matters of particular relevance were reported by T the Committee Chair to the subsequent Board meeting. G Key responsibilities G O O VE – Reviewing the structure, size and composition of the Board Key activities of the Committee during the year VE R to ensure it has the proper balance of skills, experience, – Considered the appointment of additional Independent R NAN independence, and diversity, and of its Committees and Non-executive Directors and made a recommendation to NAN making recommendations to the Board on any changes the Board for approval for the appointment of Jean Tomlin C C E required to meet current and future needs – Considered and recommended to the Board for its approval E – Succession planning for Directors and senior executives and the appointment of Sir Nigel Boardman as Senior Independent ensuring that plans and processes are in place for the orderly Director F F I I NAN succession of Directors, Executive Committee and other key – Reviewed the size, structure and composition of the Board NAN members of the senior management team and the Executive Committee with respect to the needs of C C IAL – Overseeing the development of a diverse talent pipeline for the business IAL S succession, considering the challenges and opportunities – Discussed Executive succession S T facing the Company and the skills, experience and knowledge – Discussed Board independence T A A T required of the Board in the future T E E M – Identifying and nominating candidates to fill Board vacancies M E E N for approval by the Board and ensuring that the procedure Board independence and conflicts of interest N T T S for appointing Directors is formal, rigorous, transparent, The independence, effectiveness and commitment of each of the S objective, merit-based and has regard for diversity Non-executive Directors has been reviewed by the Committee. The – Reviewing the Non-executive Directors’ time commitment, Committee is satisfied with the contributions and time commitment of F F U independence and external appointments, and the annual all the Non-executive Directors during the year. The Committee will U R R T performance evaluation results relating to the composition always discuss the additional commitments of all Directors (including T H H E of the Board the Chairman) before recommending their approval to the Board. It E R R INF – Keeping under review potential conflicts of interests of considers potential conflict issues as part of that assessment. This INF Directors disclosed to the Company and reviewing annually process is supported by an annual conflicts review by the Committee OR OR any conflict declarations by the Directors and any conflict whereby the Committee reviews the Directors’ conflicts of interest M M A authorisations granted by the Board register and seeks confirmation from each Director of any changes or A T T I – Making recommendations for the re-election by shareholders updates to their position. No new conflicts were declared during I ON of each Director having due regard to their performance, the year. ON ability and contribution to the Board in the light of their skills, experience and knowledge Following discussion with the Committee, Antony Sheriff stepped down from the Board due to the potential conflict of interest presented by his appointment as Chairman of the Supervisory Board at Rimac COMMITTEE MEMBERSHIP AND COMMITTEE MEETINGS Group and at Bugatti-Rimac. The Committee considered that this The Committee currently consists of the Executive Chairman Lawrence presented a potential significant conflict of interest that could not Stroll who is Chair of the Committee and five Independent be easily managed. Antony Sheriff therefore took the decision to Non-executive Directors: Robin Freestone, Anne Stevens, resign from the Board to focus on his Rimac appointments. Sir Nigel Boardman, Marigay McKee (who was appointed to the In considering Jean Tomlin’s appointment to the Board, the Committee Committee in May 2023) and Jean Tomlin (who was appointed to the discussed the current cross-directorship that Jean shares with Robin Committee in October 2023). In addition, the Relationship Agreements Freestone. Jean and Robin both sit on the Board of Capri Holdings with the significant shareholder groups (see page 126) provide that each may appoint a Director to the Committee. Franz Reiner represents Limited. However, Capri Holdings Limited is in the process of being Mercedes-Benz AG, Scott Robertson represents the Public Investment sold to Tapestry Inc. and the sale is expected to complete during Fund and in July Daniel Li joined the Committee as representative of 2024. The Committee further noted that a cross-directorship is just Geely. The Executive Chairman represents the Yew Tree Consortium. one potential indication that independence could be impaired Attendance at each meeting comprises the Committee members, the and concluded that in these circumstances, the independence of Jean Company Secretary who is secretary to the Committee and, at the and Robin was not impacted. request of the Committee, the Chief Executive OfÏcer, General The Committee is confident that each of the Non-executive Directors Counsel, Chief People OfÏcer, Director of Reward, and other members of the senior management team and external advisors who may be remains independent and will be in a position to discharge their duties invited to attend all or part of any meeting, as and when appropriate. and responsibilities in the coming year. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 95

GOVERNANCE NOMINATION COMMITTEE REPORT CONTINUED S The Committee discussed the impact of the additional two Y TR Shareholder Representative Director appointments during the year on A A the overall independence of the Board. The Committee concluded TE N D G O I that appointing an additional three Independent Non-executive I C T R Directors to comply with the independence requirements of the Code C U E would take the Board up to a total of 18 Directors which could be D P N O detrimental to the effective operation of the Board. Ensuring that the R D I T Board is kept at a manageable size so as to continue to facilitate R A effective discussion and decision making needs to be balanced with O the benefits that independence brings. The Committee also noted the N B G I O Shareholder Representative Directors act independently of one L another so there is no dominant collective voice in the boardroom. M VE O R The Board has a high calibre of experienced Independent N T NAN A Non-executive Directors who ensure effective independent challenge E J C and debate at Board meetings. Therefore, despite not being in E compliance with the independence requirements of the Code, the Committee is comfortable that the Board operates with sufÏcient All new Directors are also provided with access to the Company F independence of thought and power. electronic Board paper system which provides easy and immediate I access to all key governance documents, including Board and NAN The composition of the Committee meets the independence Committee papers, and terms of reference. C requirements of the Code, as does the Audit and Risk Committee and IAL the Remuneration Committee. Where appropriate, new Directors also meet with institutional S T investors, the Company’s External and Internal Auditors and A T Overboarding remuneration consultants. Continuing training and education E M The Board follows the Institutional Shareholder Services (ISS) proxy opportunities are available to all Directors to support the fulfilment of E N voting guidelines on overboarding and accordingly deems all its their individual duties or collective Board role and to develop their T Non-executive Directors to be within these guidelines. The Board understanding of the business. The arrangements are overseen by the S appreciates that other proxy bodies and institutional investors impose Company Secretary and can be internally or externally facilitated. F more stringent guidelines than ISS and that each individual’s portfolio Directors are also encouraged to participate in seminars and events U R of appointments must be considered on a case-by-case basis, which hosted by external organisations in different sectors to keep abreast T H the Board duly does before approving any appointments and then, on of broader societal trends, expectations and issues with a view to E R an annual basis, to assess whether each member of the Board is able to developing broader perspectives and insights and developing wider INF continue contributing effectively. The Board was not asked to approve debate within Board discussions. any additional significant external appointments for any of our OR Directors during the year. SUCCESSION PLANNING M A The Board has a duty to ensure the long-term success of the Company, T I Election and re-election of Directors which includes ensuring that it has a steady supply of talent for ON The election, in accordance with the Company’s Articles of Association, executive positions and established succession plans for Board of Daniel Li, Jean Tomlin and Cyrus Jilla will be proposed for positions. Throughout the year the Committee has reviewed and shareholder approval at the Annual General Meeting in May 2024. All assessed the composition of the Board and its aggregate skills, the other Directors will stand for re-election at the Annual General experience and knowledge and the current and future needs of the Meeting in May 2024 with the support of the Board. The Board Board as new appointments to the Board have been made. considers all Directors to be effective and committed to their roles and to have sufÏcient time to perform their duties. The Committee will continue to consider the Group’s succession planning on a regular basis to ensure that any further changes to the Director induction and training Board are proactively planned and coordinated. The Committee Following appointment, all Directors receive a comprehensive and monitors the development of the Executive Committee’s direct tailored induction programme which is designed through discussion reports team to ensure that there is a diverse supply of senior with the Chair and the Company Secretary having regard to existing executives in the talent pipeline. The Committee intends to focus expertise and any prospective Board Committee roles. The induction more on Executive Committee succession planning in the year ahead. includes but is not limited to face-to-face meetings with Board members and the Executive Committee as appropriate, briefings on During the year, the Executive Committee was strengthened by the the Company’s strategy, investor relations, Board and Company appointments of Giorgio Lasagni as Chief Procurement OfÏcer and policies, processes and procedures and training on the role of a Vincenzo Regazzoni as Chief Industrial OfÏcer. Their biographies and director of a listed company. those of the other members of the Executive Committee can be found on pages 80-81. As at 31 December 2023, the Executive Committee Jean Tomlin spent a day in Gaydon as part of her induction. Jean had consists of the three Executive Directors and eight other Chief a tour of the Design Studio, the factory and spent time with the roles. Further information on the role of the Executive Committee is on CEO, CFO and other members of senior management. page 84. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 96

S S TR DIVERSITY AND INCLUSION Independent Non-executive Directors), thereby comprising 50%. TR A The Board acknowledges that the Board’s perspective and approach 67% of our Independent Non-executive Directors are female. A TE can be greatly enhanced through diversity of gender, social and ethnic TE G G I I C backgrounds, cognitive and personal strengths, tenure and relevant (ii) None of our senior Board positions are filled by women. When the C R experience. There is also a recognition that to deliver the Company’s R vacancy for a Chief Executive OfÏcer, Chief Financial OfÏcer, Chair E E P strategy it is important to promote a high-performing culture, or Senior Independent Director arises, a diverse search will be P O O R characterised by a diverse and inclusive workforce. Diversity and undertaken and a selection made on all relevant criteria. R T inclusion bring new ideas and fresh perspectives which fuel innovation T and creativity. The Committee considers diversity, in its widest sense (iii) We exceed the requirement that at least one Director should be G (and not limited to gender), during Board composition reviews and from a minority ethnic background. Our Board is diverse in G O O VE the development of recruitment specifications in connection with background and includes Chinese and Saudi Arabian Directors. VE R appointment of new Board members. R NAN The Board will continue to promote diversity at Board and Executive NAN The Committee notes the new Listing Rule targets on diversity which Committee level and throughout the business. The Company C C E we are required to report on for the first time in our Annual Report this acknowledges that it needs to improve diversity at leadership level E year. The targets are: (i) at least 40% of the Board should be women; and this will be a continued focus for the Committee. For gender (ii) at least one of the senior board positions (the Chair, Chief Executive balance of senior management and their direct reports, please see F F I OfÏcer, Senior Independent Director and/or Chief Financial OfÏcer) page 53. The Committee monitors the talent pipeline to ensure we I NAN NAN should be a woman; and (iii) at least one member of the board should have a diverse succession pool of talent being developed and C be from a minority ethnic background. importantly maintained at all levels of the business. Maintaining a C IAL diverse workforce is as important as diverse recruitment and the IAL S Taking each target in turn: Committee will focus on overseeing the work being carried out by the S T T A business to achieve this. A T T E (i) We do not meet the requirement that 40% of the Board are women. E M M E Our Board currently stands at 27% female. The composition of our COMMITTEE PERFORMANCE EVALUATION E N N T Board is unique, with seven Shareholder Representative Directors The Committee was evaluated as part of the internal effectiveness T S appointed. Therefore, we state in our Board Diversity Policy that review of the Board and its Committees (details of which can be found S we seek to maintain as a minimum, 40% of Board members not on pages 92-93). F F U subject to significant shareholder appointments to be women, U R R T provided this is consistent with the prevailing skills and diversity The Committee also reviewed its own performance and was satisfied T H H E requirements of the Company as and when seeking to appoint a that it continued to perform effectively and was rated highly by the E R R INF new Director. Consequently, under our Board Diversity Policy, as at members. A key continued focus for the Committee for the year ahead INF the date of this Report, there are four women out of eight relevant is succession planning at Executive Committee level. OR Board members (being the two Executive Directors and six OR M M A A T T I I ON BOARD AND EXECUTIVE MANAGEMENT DIVERSITY ON Prepared in accordance with UK Listing Rule 9.8.6R(10) as at 31 December 2023. 1 Gender identity or sex Number of senior Number positions on the Number in Percentage of of Board Percentage Board (CEO, CFO, executive executive members of the Board 2 management SID and Chair) management Men 11 73% 4 8 100% Women 4 27% 0 0 0% Other categories – – – – – Not specified/prefer not to say – – – – – Ethnic background Number of senior Number positions on the Number in Percentage of of Board Percentage Board (CEO, CFO, executive executive members of the Board 2 management SID and Chair) management White British or other White (including minority-white groups) 12 80% 4 8 100% Mixed/Multiple Ethnic Groups – – – – – Asian/Asian British 1 6.7% – – – Black/African/Caribbean/Black British 1 6.7% – – – Other ethnic group, including Arab 1 6.7% – – – Not specific/prefer not to say – – – – – Notes: 1 The data reported is on the basis of gender identity. 2 Excludes Executive Directors. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 97

GOVERNANCE AUDIT AND RISK COMMITTEE REPORT S Audit and Risk Committee Report DEAR SHAREHOLDER TR On behalf of the Audit and Risk Committee, I am pleased to present A the Committee’s Report for the year ended 31 December 2023. This TE G I Report details the role of the Committee and describes how the C Committee has carried out its responsibilities during the year and R E provided assurance on the integrity of the 2023 Annual Report P O and Accounts. R T FINANCIAL REPORTING The Committee monitors the integrity of the Company’s reporting G O processes and financial management, reviewing and discussing in VE detail the half year and full year financial results and the conclusions of R the External Auditor. The Committee reviews and discusses the critical NAN accounting judgements made and sources of estimation and C uncertainty when applying the Group’s significant accounting policies, E the going concern and viability analysis and any other significant matters which impact financial reporting. F I RISK MANAGEMENT NAN On behalf of the Board, the Committee oversees the process by which C IAL ROBIN risks are identified, assessed and managed. The Committee considered the principal risks contained in the Group’s corporate risk register as S T FREESTONE the basis for its activity during the year and leverages the three lines of A T CHAIR, AUDIT AND RISK COMMITTEE defence model and assurance mapping to monitor how the Company E M manages these risks and obtains assurance over its principal risks. E N T S TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES (TCFD) F 2023 OVERVIEW The Committee recognises the importance of the disclosures required U R – Review and assessment of full year and half year financial in accordance TCFD framework. Our TCFD report which is largely T H reporting consistent with the recommendations of the TCFD and the new E R – Monitoring of internal audits and remediation plans climate regulations required by the Non Financial and Sustainability INF – Oversight of risk management Information Statement, can be found on pages 58-63 and the – Overview of compliance activities statement of compliance is on page 71. OR M – Monitoring confidential reporting reports, investigations and A INTERNAL AUDIT T processes I – Review of progress of ERP implementation This year, the Internal Audit plan incorporated a number of audits ON – Deep dive on cyber and information security strategy including human resources core activities, finished vehicle inventory – Responding to Financial Reporting Council review of 2022 and sales logistics procedures, Aston Martin China key financial Annual Report controls and ESG reporting governance procedures. The Committee reviews all Internal Audit findings and monitors the implementation of Audit and Risk Committee membership remediation actions that are identified. Committee members Meeting attendance Robin Freestone (Chair) 4/4 AUDIT AND FINANCIAL REPORTING REFORM Sir Nigel Boardman 4/4 The Committee has monitored the proposals of the Financial Anne Stevens 4/4 Reporting Council (FRC) for audit reform and received updates at Antony Sheriff 2/2 every meeting on the Company’s progress to design, implement, embed and test enhanced internal controls across finance and IT operations in preparation for the new financial reporting regime. Finally, I would like to thank the members of the Committee, the management team, Internal Audit and our External Auditor for their continued commitment throughout the year, for the open discussions that take place in our meetings and for the contribution they all provide in support of the Committee’s work. ROBIN FREESTONE CHAIR, AUDIT AND RISK COMMITTEE 27 February 2024 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 98

S S TR COMMITTEE MEMBERSHIP AND COMMITTEE MEETINGS Key responsibilities of the Committee TR A The Committee currently comprises three Independent A TE Non-executive Directors: Robin Freestone who is Chair of the – Reviewing and assessing the integrity of the Group’s financial TE G G I and narrative statements, formal announcements of the I C Committee, Anne Stevens and Sir Nigel Boardman. The Committee C R therefore meets the requirements of the Code. Group’s performance and significant financial reporting issues R E E P and judgements which they may contain and recommending P O O R In accordance with the Relationship Agreements with the significant these for approval by the Board R T – Advising the Board on whether the Annual Report and T shareholder groups (see page 126), each may appoint an observer of the Committee with no voting rights. Michael de Picciotto, Franz Accounts, taken as a whole is fair, balanced and G Reiner, Scott Robertson and Daniel Li currently serve as observers. understandable and provides the information necessary for G O shareholders to assess the Company’s performance, business O VE The Committee meets at least three times a year at appropriate model and strategy VE R R NAN intervals in the financial reporting and audit cycle and otherwise as – Ensuring compliance with accounting standards and policies, NAN required. The Committee has formal terms of reference which can be and reviewing and challenging the application of such C standards and policies and, if unsatisfied, reporting its views C E viewed on the Company’s website, www.astonmartinlagonda.com. to the Board E This year the Committee met four times. The Committee members’ attendance for the period is set out on page 98. The activities of the – Reviewing for approval by the Board the Company’s going F concern and viability statements and providing advice to the F I Committee and any matters of particular relevance were reported by I NAN the Committee Chair to the subsequent Board meeting. There is time Board on how the Company’s prospects have been assessed, NAN C made available at the end of each meeting for private sessions for the taking into account the Company’s position and principal risks C IAL Committee to discuss matters with the External Auditor and the – Receiving and reviewing reports from the Company’s External IAL S Director of Internal Audit & Risk without members of management Auditor, monitoring its effectiveness and independence and S T T A being present. making recommendations to the Board in respect of its A T T E remuneration and appointment E M M E – Overseeing policies on the engagement of the External E N N T Auditor for the supply of non-audit services and assessing T S S whether non-audit services have a direct or a material effect on the audited financial statements F – Reviewing the Group’s internal financial, operational and F U Effective governance over financial U R compliance controls and Enterprise Risk Management R T T H reporting and risk management, Framework and system and considering Group policies for H E E R R INF identifying and assessing risks and arrangements for INF together with a robust system of employees to raise concerns using the “Speak Up” OR internal controls, are critical to Confidential Reporting process about possible improprieties OR M while ensuring appropriate safeguards are in place M A achieving our strategy.” A T – Reviewing and approving the annual Internal Audit plan and T I I ON discussing the findings of any internal investigations and ON management’s response Attendees at each meeting comprise the Committee members, the observers and the Company Secretary who is secretary to the KEY ACTIVITIES OF THE COMMITTEE DURING THE YEAR Committee. The Chief Executive OfÏcer, the Chief Financial OfÏcer, Financial reporting the General Counsel, the Director of Internal Audit & Risk, the External – Considered and reviewed the UK Corporate Governance Code Auditor, Ernst & Young LLP (“EY”), and other senior members of the requirements relating to year-end matters including, among others, finance team also routinely attend meetings upon invitation by the the review of the Group’s accounting policies, key accounting Chairman. estimates, significant financial reporting matters, principal risks, going concern and viability, the effectiveness of the Group’s risk The Code stipulates that the Committee, as a whole, shall have management and internal control systems and “fair, balanced and competence relevant to the sector in which the Company operates. All understandable” reporting in the 2022 Annual Report Committee members have past employment experience of financial – Reviewed the half year accounts, including the material reporting and/or international business or engineering and collectively judgements and estimates have a broad range of expertise that enables them to provide oversight – Received and considered reports from the External Auditor on the of both financial and risk matters, and to advise the Board accordingly. full year and half year audits As such the Board is satisfied that the Committee, as a whole, has the – Reviewed the Financial Statements, announcements and other competence relevant to the business sector. At least one Committee financial reporting matters including the approval of the interim member should have recent and relevant financial experience and results announcement, trading updates and the review of the 2022 Robin Freestone meets this requirement having previously held the Annual Report position of Chief Financial OfÏcer of Pearson plc and as a qualified – Considered the correspondence from the FRC which raised a chartered accountant. Details of the Committee members’ experience number of questions relating to the Company’s 2022 Annual can be found in their biographies on pages 77-79. Report and reviewed management’s responses ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 99

GOVERNANCE AUDIT AND RISK COMMITTEE REPORT CONTINUED S External audit Financial reporting and significant financial judgements and TR – Assessed the External Auditor’s independence, objectivity and estimates A TE effectiveness One of the Committee’s principal responsibilities is to review and G I – Considered and recommended to the Board the reappointment report to the Board on the clarity and accuracy of the Group’s Financial C of the External Auditor Statements, including the Annual Report and the Interim Results R E – Considered External Auditor fees and their terms of engagement Statement. The Annual Report seeks to provide the information P O – Reviewed the Non-Audit Services Policy necessary to enable an assessment of the Company’s position and R – Reviewed the External Auditor non-audit services and fees performance, business model and strategy. The Committee assists T the Board with the effective discharge of its responsibilities for Risk management and internal controls financial reporting, and for ensuring that appropriate accounting G – Monitored the Company’s corporate risk register, including the policies have been adopted and that management has made O VE identification and assessment of the Group’s principal and appropriate estimates and judgements. In preparing the Financial R emerging risks and movement in such exposures Statements for the period, there were a number of areas requiring the NAN – Reviewed the effectiveness of the Group’s Enterprise Risk exercise of a high degree of estimation. These areas have been C Management Framework and System and internal control systems discussed with the External Auditor to ensure the Group reaches E – Considered responses, and their timeliness, to audit findings and appropriate conclusions and provides the required level of disclosure. recommendations for control improvements The significant issues considered by the Committee in respect of the F – Reviewed the risk management and internal controls disclosures in Annual Report are set out on page 101. I the half year accounts and Annual Report NAN – Reviewed and approved the updated Confidential Reporting Management are responsible for establishing and maintaining C IAL Policy, including an analysis of investigations undertaken during the adequate internal controls over financial reporting. These are year designed to provide reasonable assurance regarding the reliability of S T – Received regular reports related to the implementation of the new financial reporting and the preparation of Financial Statements for A T ERP system and reviewed the key challenges and risks associated external reporting purposes. The financial reporting internal control E M with the project system covers the financial reporting process and the Group’s process E N – Received regular reports on the developments of the FRC’s for preparing consolidated accounts. It includes policies and T proposals for corporate governance and audit reform ahead of procedures which require the following: S the proposed new financial reporting regime – The maintenance of records that, in reasonable detail, accurately F – Reviewed the Annual Fraud Risk Assessment and related fraud U and fairly reflect transactions including the acquisition and disposal R prevention and detection control activities T of assets H – Received updates on material litigation E R – Reasonable assurance that transactions are recorded as necessary INF Internal Audit to permit preparation of Financial Statements in accordance with – Approved the annual Internal Audit plan and approach for 2024, International Financial Reporting Standards OR including its alignment to the principal risks, emerging areas of risk, – Reasonable assurance regarding the prevention or timely M A coverage across the Group and continuing review of the Group’s detection of unauthorised use of the Group’s assets T I processes and controls ON – Monitored and reviewed the effectiveness and independence of There are also specific disclosure controls and procedures around the the Internal Audit function including consideration of key Internal approval of the Group’s Financial Statements. Audit reports, and the implementation of Internal Audit Fair, balanced and understandable recommendations The Board recognises its duty to ensure that the Annual Report and – Provided oversight of delivery of the 2023 Internal Audit plan, Accounts, taken as a whole, are fair, balanced and understandable and reviewing Internal Audit reports and findings issued during the year provides the information necessary for shareholders to assess the and the status of implementation of recommended corrective actions Group’s position and performance, business model and strategy. To Other areas enable the Board to have confidence in making this statement, it – Reviewed and recommended to the Board for approval the revised requested that the Committee undertake a review and report to the Committee terms of reference Board on its assessment. The key elements of the assurance framework – Reviewed the results of the evaluation of the effectiveness of the which supports the assessment by the Committee were: Committee – the process by which the Annual Report and Accounts were – Approved TCFD disclosures for the Annual Report prepared, including detailed project planning and a – Received an update on tax matters for the Group and reviewed and recommended to the Board approval of the Group’s annual tax comprehensive review process; strategy and publication on the Company website – review of the drafting and verification processes for the Annual – Received a treasury update Report and Accounts by the Disclosure Committee; – Received a pension strategy update – comprehensive reviews undertaken by the Executive Directors, members of the Executive Committee and other members of senior management comprising the Annual Report and Accounts drafting team to consider content accuracy, regulatory compliance, messaging and balance; ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 100

S S TR – the review of the Annual Report and Accounts by the Audit and Financial Reporting Council (FRC) TR A Risk Committee placing reliance on the experience of the In July 2023, the Company received a letter from the FRC requesting A TE Committee members; additional information and explanations on two principal areas of TE G G I I C – reports prepared by senior management regarding critical disclosure in the Company’s 2022 Annual Report and Accounts. The C R R accounting judgements, estimates and key financial areas; and FRC requested information on how the claims filed against the E E P – discussions with, and reports prepared by, the External Auditor. Company by Nebula Project AG were reflected in the accounts, and as P O O R a result of the Company’s response, this query was closed. The FRC R T T The Committee received confirmation from management that the also asked for further information on how the Company satisfied the assurance framework had been adhered to for the preparation of the requirements of IAS 36 in determining that the Parent Company G 2023 Annual Report and Accounts. The Committee provided a carrying value of the investment was not impaired at 31 December G O recommendation to the Board that the fair, balanced and 2022. A full review of the disclosures within the Parent Company O VE understandable statement could be given on behalf of the Directors. accounts and discussion with the Company’s External Auditor and VE R R NAN The Board’s confirmation is set out on page 129. review by the Committee, concluded there were three adjustments NAN required to the Parent Company financial statements for the year C C E ended 31 December 2022: E Significant matters for the year ended 31 December 2023 and how the Committee addressed these matters (i) Impairment of the Parent Company investment in subsidiaries F F I (ii) Reversal of the Expected Credit Loss provision made against the I NAN intercompany receivable balance between the Company and NAN Impairment of finite life intangible assets C The Committee considered the Group’s process in determining Aston Martin Lagonda Limited; and C IAL whether any asset, covered within the scope of IAS 36 Impairment IAL (iii) Reclassification of the intercompany receivable from current to S of Assets, requires impairment. The Committee considered whether non-current. S T there were any indicators of impairment of assets with a finite life T A A T and concluded that the assumptions made, conclusions reached and T E Each of these adjustments relate to technical accounting matters with E M disclosures given were appropriate. M E no impact on the Group’s results or Group financial statements. The E N N T prior year restatement can be found on page 158. The FRC confirmed T S S Recognition and measurement of deferred tax assets its agreement to this restatement and the matter has now been closed. The Group has considered the forecasts presented by management F that indicated the capability of the Group to generate future taxable F U The Company acknowledges that the FRC’s review of its Annual U R profits to recover the deferred tax asset of £156.3m. The Committee R T Report 2022 provided no assurance that the Annual Report is correct T H concluded that the recognition of the deferred tax asset and the H E in all material respects and that the FRC’s role is not to verify E R disclosures given were appropriate. R INF information provided but to consider compliance with reporting INF requirements. The FRC accepts no liability for reliance on its letters by OR Going concern and viability statement reporting the Group or any third party, including but not limited to investors and OR M The Committee discussed the Group’s considerations in assessing shareholders. M A the appropriateness of adopting the going concern basis of A T T I I ON accounting and considered the financial statement disclosures ON in respect of adopting the going concern basis in preparing the In February 2024, the FRC’s Audit Quality Review Team (AQRT) completed a review of EY’s audit of the Company’s financial statements financial information. The Committee concluded that adopting the going concern basis and the disclosures given were appropriate. for the period ended 31 December 2022. The Committee considered the final inspection report findings, noted the area of good practice The Committee discussed the key assumptions used in evaluating and discussed the results with the lead audit partner including the the long-term viability of the Group, the time period for the Viability actions the audit team have taken in conducting the 2023 audit. The Statement and the stress and reverse stress testing used as a basis Committee noted the overall assessment by the AQRT, as part of for conducting the overall assessment. The Committee concluded that the assumptions made and the wording included in the viability its assessment of the quality and effectiveness of the external audit. statement were appropriate. Committee’s oversight of external audit The Committee oversees the work undertaken by EY. EY was Other matters appointed as External Auditor with effect from 24 April 2019, following At the November 2023 and February 2024 meetings, the Committee an audit tender process. Shareholders approved EY’s re-appointment also considered management’s papers on the following subjects and at the Company’s Annual General Meeting on 17 May 2023. The concluded that the assumptions made and the approaches adopted Committee’s responsibilities include making a recommendation on were appropriate: the appointment, re-appointment and removal and remuneration of – the Group’s revenue recognition policies; – accounting for defined benefit pension obligations; the External Auditor. The Committee assesses the qualifications, – recognition and measurement of the Group’s warranty provision; expertise, resources and independence of the External Auditor and – recognition and measurement of adjusting items; the effectiveness of the audit process. The Committee Chair also has – accounting for the placing and debt repurchase; regular contact with the external audit partner outside of Committee – accounting for the exercise of the AMR GP warrants; and meetings without the presence of management. During the period the – accounting for the Lucid transaction Committee approved the External Audit plan, the proposed audit fee and terms of engagement of EY for FY 2023. It has reviewed the audit ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 101

GOVERNANCE AUDIT AND RISK COMMITTEE REPORT CONTINUED S process and the quality of the audit delivery and the quality and During FY 2023 the following permitted audit-related services have TR experience of the audit partner engaged in the audit and has also been approved in accordance with this policy: A considered the extent and nature of challenge demonstrated by the TE G I External Auditor in its work and interactions with management. The – Review of the Company’s interim financial statements for the C Committee has considered the objectivity of the External Auditor period ended 30 June 2023 – £59,125. R E including the nature of other work undertaken for the Group as set P O out below. In granting approval for these services, the Chief Financial OfÏcer and R Chair of the Committee considered the nature and level of non-audit T Independence and re-appointment of the External Auditor services provided by the External Auditor and was satisfied that the The Committee reviewed the independence and objectivity of the objectivity and independence of the External Auditor was not G O External Auditor during the year and confirmed that it considers EY to compromised by the non-audit work undertaken during the year. VE remain independent. The Committee also considers that the Company Details of the fees paid to the External Auditor during the financial year R has complied with the Statutory Audit Services for Large Companies can be found in note 4 to the Financial Statements. NAN Market Investigation (Mandatory Use of Competitive Tender C Processes and Audit Committee Responsibilities) Order 2014 for the Internal controls and risk management E financial year under review. The Board is ultimately responsible for the Group’s system of internal controls and risk management and it discharges its duties in this area F The External Auditor is required to rotate the audit engagement by determining the nature and extent of the principal risks it is willing I NAN partner every five years. The current engagement partner, Simon to accept in pursuit of the Group’s strategic objectives (the Board’s O’Neill, began his appointment at the commencement of the 2019 risk appetite); and challenging management’s implementation of C IAL financial year and therefore a new audit engagement partner will be effective systems of risk identification, assessment and mitigation. S appointed with effect from the 2024 financial year. Based on the The Committee is responsible for reviewing the effectiveness of the T Committee’s recommendation, the Board is proposing that EY be Group’s internal control framework and risk management A T re-appointed to ofÏce at the Annual General Meeting on 8 May 2024. arrangements. The system of internal controls is designed to manage E M rather than eliminate the risk of not achieving business objectives and E N Non-audit services can only provide reasonable and not absolute assurance against T The Committee recognises that the independence of the External material misstatement or loss. This process complies with the S Auditor is an essential part of the audit framework and the assurance Guidance on Risk Management, Internal Control and Related Financial F that it provides. The Committee adopted a policy which sets out a and Business Reporting issued by the FRC. It also accords with the U R framework for determining whether it is appropriate to engage the provisions of the Code. Details of the Group’s risk management T H Group’s auditors for permissible non-audit services and for process and the management and mitigation of principal risks E R pre-approving non-audit fees. The overall objective of the policy is to together with the Group’s Viability Statement can be found in the Risk INF ensure that the provision of non-audit services does not impair the and Viability Report on page 70. External Auditor’s independence or objectivity. This includes, but is OR not limited to, assessing: The Board, through the Committee, has carried out a robust M A assessment of the principal risks facing the Group and agreed the T I – any threats to independence and objectivity resulting from the nature and extent of the principal risks it is willing to accept in delivering ON provision of such services; the Group’s strategy (the Board’s risk appetite). It has considered the – any safeguards in place to eliminate or reduce these threats to effectiveness of the system of internal controls in operation across the a level where they would not compromise the Auditor’s Group for the period covered by the Annual Report and up to the date independence and objectivity; of its approval by the Board. This review covered the material controls, – the nature of the non-audit services; and including financial, operational and compliance controls and risk – whether the skills and experience of the audit firm make it the most management arrangements. suitable supplier of the non-audit service. Control environment – internal control framework The total value of non-audit services that can be billed by the External The internal control framework is built upon established entity-level Auditor is restricted by a cap set at 70% of the average audit fees for controls. The Group defines its processes and ways of working the preceding three years which produced a cap for the 2023 financial through documented standards and procedures which guide the way year of c.£400,000. the Group operates, based on a set of Group Framework Policies, which establish the core principles of conduct of the Group and its The approval of the Committee must be obtained before the External employees. These Group Framework Policies address a number of Auditor is engaged to provide any permitted non-audit services. For topics including compliance laws, quality, responsible procurement, permitted non-audit services that are clearly trivial, the Committee equity diversity and inclusion, IT and cyber-security, intellectual has pre-approved the use of the External Auditor for cumulative property, conflicts of interest and confidential reporting. amounts totalling less than £200,000 on the approval of the Chief Financial OfÏcer and Chair of the Committee. On joining the Group all employees are provided with the Group Framework Policies and are asked to confirm that they have read and understood them. Focused training is then provided on these topics at regular intervals, on a targeted basis. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 102

S S TR The Group Framework Policies are supplemented by functional CODE OF CONDUCT: HIGH INTEGRITY. TR A policies, procedures and standards which move away from principles HIGH PERFORMANCE A TE TE G to address specific actions and requirements. These are added to and G I I C enhanced as laws change and practice evolves. C R R E E P There are established procedures for the delegation of authority to P O O R ensure that decisions are made at an appropriate level within the R T business dependent on either the magnitude or nature of the decision. T In particular, access to the Company IT systems and applications is G provided subject to formal access provisioning processes with the G O objective being to limit access, as appropriate, to enable an individual O VE to perform their role and to enforce appropriate segregation of duties VE R R NAN within business processes. The delegations of authority policy was NAN updated during the year to reflect good practice and incorporate C C E some new key elements. E The Company maintained its ISO 9001 accreditation for its quality F F I management system which ensures that policies, standards and I NAN procedures are appropriate for the business, that they are reviewed on NAN C a regular basis and made available to applicable employees and C IAL contractors through the Group intranet. IAL S Two corporate compliance topics have had particular focus in 2023. S T T A Code of Conduct A T (i) Data protection and cyber-security T E The Group launched a new Code of Conduct in 2023, which was E M Aston Martin complies with the UK and EU GDPR and other applicable M E developed in collaboration with colleagues across the business and E N national data privacy laws, when it comes to the processing of N T approved by the Executive Committee. It applies to all companies T S within the Group and to all directors, employees, temporary workers customer, employee and other individuals’ personal data. As the S Company develops its “connected cars” programme, data protection and contractors. becomes increasingly relevant to the design, engineering, production F F U and on-going management of vehicles. This area, alongside the U R R T The Code and the Group Framework Policies referenced within it are vehicle cyber-security standards, has been an area of particular focus T H H E the foundation of the Company’s governance model, but the Code as we strive to ensure that customer and third party personal E R R INF also sets the tone of the Company’s expectations of high ethical information is managed responsibly and compliantly. INF standards in all business conduct. Building on the Company’s Values to OR address expected behaviours in specific areas, the Code of Conduct (ii) Economic and trade sanctions OR M sets out a decision-tree to help colleagues make the right choices, M A In light of the increase in sanctions being imposed by the UK, EU, UN A T even where there is not a policy to provide guidance. This is an T I and other nations (as a result mainly of the on-going conflict in the I ON ON important part of our mission to drive a culture defined by integrity, Ukraine), the Company has had a particular focus on evaluating and which the Company sees as equal to its drive for high performance. reviewing its dealings with third parties, including suppliers and customers. Some sanctions prohibit dealings with designated Compliance individuals, others are directed at the nature and origin of materials. Led by our Corporate Compliance team, reporting to the Executive There has been an increase in anti-circumvention sanctions measures Committee and the Audit and Risk Committee, the Company has which place greater emphasis on assurance down the supply chain embarked on a programme to review and enhance our compliance as to the origin of supply of parts. As a consequence, the Company management system. In 2023, we have prioritised policies, governance has increased the scrutiny on supplies, as well as enhanced its ‘know and training which set the foundations for effective compliance. your customer/supplier’ checks. The Company also adopted a new Sanctions Compliance Policy in 2023. All corporate compliance policies underwent a significant review and update in the year, with additional risk areas being added to the Enterprise Risk Management Framework and System framework to reflect regulatory change and focus. In anticipation of The Group continues to strengthen the control environment by the coming into force of the new UK “failure to prevent fraud” offence, embedding the Enterprise Risk Management Framework and System fraud risk and prevention has been incorporated into a Framework which is supported by Risk Champions within each function. A Policy. Compliance training courses have been reviewed and new summary of the key risk management activities undertaken by the programmes put in place, tailored to the specific audiences. Group is included within the Risk and Viability Report on page 70. The Internal Audit & Risk Management function is responsible for The Company is committed to conducting all business in an honest administering the Enterprise Risk Management Framework and and ethical manner. The Company expects all employees – and anyone System and for providing independent assurance to the Board, the carrying out work on behalf of the Company – to not only comply with Committee and senior management. the law but also to always maintain the highest standards of ethical business conduct and personal behaviour. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 103

GOVERNANCE AUDIT AND RISK COMMITTEE REPORT CONTINUED S The Group uses a three lines of defence assurance model with the Internal Audit TR objective of embedding effective risk management and control The Internal Audit & Risk Management function provides independent, A throughout the business and providing assurance to the Board and the objective assurance and advice to the Board, the Committee and TE G I Committee of the effectiveness of internal controls and risk senior management on whether the existing control and governance C management across the organisation. This comprises the following: R frameworks are operating effectively to meet the Group’s strategic E objectives and to help the Company identify and mitigate any potential P O control weaknesses and identify any emerging risks. R FIRST LINE OF DEFENCE T The Director of Internal Audit & Risk reports to the Chief Financial OfÏcer with an independent reporting line to the Committee Chair. G Functional management who are responsible for embedding risk The Director provides regular reports to the Committee on the O management and internal control systems into their business VE function’s activities, which detail significant audit findings, progress of, R processes. and any changes to, the Internal Audit plan and updates on agreed NAN management actions to rectify control weaknesses. Where C appropriate, the Director will provide a deep dive into an issue where E – either the Committee has requested more information or the Director considers it pertinent. F SECOND LINE OF DEFENCE I NAN The Committee assesses the effectiveness of the Internal Audit & Risk Management function on an annual basis. To ensure that it is meeting C Functions which oversee or specialise in risk management and its objectives, the Internal Audit & Risk Management function has an IAL compliance-related activity. They monitor and facilitate the annual work plan comprising risk-based cyclical audits, reviews of risk S T implementation of effective risk management and control mitigation plans and assessments of emerging risks and business A T activities by the first line. These functions include Financial change activity, together with work mandated for compliance E M Internal Control, Quality Audit, Security, IT, Health and Safety, purposes. At the November 2023 Committee meeting the Internal E N Environmental, Corporate Compliance and the risk management Audit plan for 2024 was approved by the Committee and the T activities performed by the Internal Audit & Risk Management Committee will monitor progress against the plan in the coming year, S team. as well as whether the plan remains focused on the evolving key risks F facing the business. Such reviews will consider any changes to risk U R registers, current hot topics and emerging risks in the industry as well T H as changes based on engagement with the business. E – R INF THIRD LINE OF DEFENCE During the year, 16 internal audits were carried out including human resource core activities, gifts and hospitality policy adherence, OR finished vehicle inventory and sales logistics procedures and key M A financial controls in Aston Martin Lagonda China. The conclusions of T Functions which provide independent objective assurance to the I Board, Audit and Risk Committee and senior management the audits were discussed by the Committee and remediation actions ON were agreed where required. regarding the effectiveness of the first and second lines of defence. This includes Internal Audit & Risk Management and the External Auditor and other external providers of assurance including those which provide assurance over dealer adherence to operating standards and assurance over data within our Sustainability Report. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 104

S S TR The investigation reports are received and reviewed by the Chief TR A Executive OfÏcer, the General Counsel, the Chief People OfÏcer and A TE TE G the Chair of the Committee. The investigation outcomes, significant G I I C findings and status are reported to the Committee on a regular basis, C R R with all significant matters being reported directly to the Board. E E P During the year, 17 new reports were submitted via the confidential P O O R reporting facilities. The Committee monitored and assessed the R T outcome of the resulting investigations. T G G O O VE VE R R NAN NAN The Group has established C C E E procedures to ensure there is an appropriate mechanism for F F I I NAN NAN employees and other stakeholders C C IAL to report any concerns regarding IAL S S suspected wrongdoing or T T A A T misconduct.” T E E M M E E N N T T S S Committee performance evaluation F F U The Committee was evaluated as part of the internal effectiveness U R R T review of the Board and its Committees (details of which can be found T H H E Confidential reporting E R on pages 92-93) and concluded that it continued to perform effectively R INF The Group has established procedures to ensure there are appropriate INF and was rated highly by all the members. There were no areas flagged mechanisms for employees and other stakeholders to report any for improvement, but the Committee requested that reducing the OR concerns regarding suspected wrongdoing or misconduct. The level of detail in the papers and distributing the papers to allow more OR M M A Confidential Reporting Policy sets out the procedures and mechanisms reading time in advance of the meeting would increase effective A T T I for raising concerns in strict confidence. This policy has been revised I ON during the year and is made available to all employees on joining the discussion at the meetings. This will be addressed in the year ahead. ON business, it is included within the new Code of Conduct and the details are published on the Group intranet and employee noticeboards. The systems for confidential reporting are promoted in all new compliance eLearning programmes. Any concerns raised under this Policy are managed by the Director of Internal Audit & Risk Management and investigated with support from Human Resources and/or Compliance teams depending on the nature of the concern. Multiple options have been provided to enable the workforce to “Speak Up” and raise concerns, including through their line manager, senior management and through a third-party managed confidential reporting system. This system enables web, telephone and app based reporting of concerns confidentially, even anonymously if desired, through the third party hotline, which are available throughout the year and across the globe. A poster campaign has been rolled out during the year at all sites to increase awareness of the “Speak Up” confidential reporting hotline. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 105

GOVERNANCE SUSTAINABILITY COMMITTEE REPORT S Sustainability Committee Report DEAR SHAREHOLDER TR On behalf of the Sustainability Committee, I am pleased to present the A Committee’s Report for the year ended 31 December 2023. Achieving TE G I Aston Martin’s ambition to become a world-leading sustainable ultra- C luxury automotive business requires an ongoing commitment to R E deliver our Racing. Green. strategy. Throughout 2023 and into 2024, P O we continue to execute plans to deliver our commitments to tackle R climate change. T Our progress in developing alternatives to the Internal Combustion G Engine continues, enabled by an expanding Electric Vehicle O transformation programme, including partnerships with Mercedes- VE R Benz and Lucid. NAN C Alongside this, we continue to focus on minimizing the impact from E our operations. Our manufacturing facilities at Gaydon, St Athan and Newport Pagnell are now carbon neutral. We are aiming to achieve F net-zero manufacturing facilities by 2030 and across our supply I chain by 2039. NAN C DR. ANNE Aston Martin continues to focus on minimizing its impact on the IAL environment, grow its positive contribution to society and embrace S T STEVENS strong governance. A T CHAIR, SUSTAINABILITY COMMITTEE E M Our customers are key to our brand and our success. For the ultra E N luxury experience, vehicle design, performance, safety and quality are T critical but corporate ethos, as global sustainability, is becoming S 2023 OVERVIEW equally important. F – Deep dive on sustainable design and innovation U R T – Focus on diversity and inclusion H E – Discussion on CO emissions reduction plan R 2 – Close monitoring of progress being made on Racing. Green. INF targets OR Achieving Aston Martin’s ambition M A to become a world-leading T I Sustainability Committee membership ON Committee members Meeting attendance sustainable ultra-luxury Anne Stevens (Chair) 4/4 Marigay McKee 4/4 automotive business requires an Sir Nigel Boardman 2/2 ongoing commitment to deliver Antony Sheriff 1/1 our Racing. Green. strategy.” th In 2023, Aston Martin celebrated its 110 anniversary, reflecting on a proud history that has seen the Company firmly established as an iconic brand in British automotive manufacturing. In the same year, it has been great to see Aston Martin advance so positively towards a new era, where success is increasingly defined by strong sustainability commitment and performance. Our customers, staff, shareholders and other stakeholders expect us to lead in sustainability just as we already do in areas such as design, performance and innovation. Progress must continue in the years ahead. DR. ANNE STEVENS CHAIR, SUSTAINABILITY COMMITTEE 27 February 2024 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 106

S S TR COMMITTEE MEMBERSHIP AND COMMITTEE MEETINGS Key responsibilities of the Committee TR A The Committee currently comprises three Independent Non- A TE executive Directors: Anne Stevens who is Chair of the Committee, Sir – Reviewing and making a recommendation to the Board to TE G G I approve the Sustainability Report and the Modern Slavery I C Nigel Boardman and Marigay McKee. Antony Sheriff stepped down C R from the Committee upon leaving the Board in May 2023. Sir Nigel Statement R E E P Boardman joined the Committee upon Antony Sheriff’s departure. – Reviewing periodically the sustainability strategy and P O O R considering whether there should be any changes, including R T to the targets detailed in the sustainability strategy and T The Chief Financial OfÏcer, Chief Executive OfÏcer, Chief People making a recommendation to the Board for approval OfÏcer, General Counsel, Chief Industrial OfÏcer and Executive G – Monitoring the progress of the sustainability strategy G Consultant to the Chief Executive OfÏcer attend the Committee O – Reviewing the annual Sustainability Materiality Assessment O VE meetings along with the Head of Government Affairs and Sustainability, VE the Director of Internal Audit and Risk and the Head of Investor and providing comments and guidance R R NAN Relations. – Considering and making a recommendation to the Board to NAN approve the Company’s Sustainability Report and where C relevant recommending to the Board any other public C E The Committee meets at least twice a year and has formal terms of documents to be approved for disclosure concerning E reference which can be viewed on the Company’s website, www.astonmartinlagonda.com. This year the Committee met four sustainability-related matters F – Receiving regular updates from the various ESG working F I times. The Committee members’ attendance for the period is set out I NAN on page 106. The activities of the Committee and any matters of groups which are executing the sustainability strategy NAN C particular relevance were reported by the Committee Chair to the – Receiving updates on and reviewing (on an ongoing basis) the C IAL subsequent Board meeting. Company’s external sustainability ratings and accreditations IAL S – Receiving updates on (and reviewing on an ongoing basis) S T T A KEY RESPONSIBILITIES OF THE COMMITTEE sustainability reporting requirements and changes to A T T E The role of the Committee is to oversee, on behalf of the Board, the government strategy, policies and laws impacting E M M E Company’s sustainability strategy, which focuses on five strategic sustainability E N N T pillars: – Monitoring external trends, developments and emerging best T S S practices that may affect the Company’s reputation or – Tackling climate change sustainability and ESG strategy, objectives and targets F – Monitoring the level of resource, competence and F U – Creating a better environment U R commitment applied to the management of sustainability and R T – Investing in people and opportunity T H ESG issues H E – Exporting success E R R INF – Delivering the highest standards – Receiving relevant sustainability audit findings and details of INF sustainability-related assurance activity OR The Sustainability Committee is supported by ten dedicated working OR M groups focused on areas ranging from energy management to M A A T development of a sustainable supply chain. For further information, Key activities of the Committee during the year T I I ON see page 58. – Reviewed and recommended to the Board for approval the ON 2022 Sustainability Report COMMITTEE PERFORMANCE EVALUATION – Reviewed reports from the Company’s sustainability working The Committee was evaluated as part of the internal effectiveness groups review of the Board and its Committees (details of which can be found – Monitored safety performance on pages 92-93). The report is very positive highlighting that the – Discussed the Company’s gender diversity plan Committee is highly effective, with outstanding leadership. The – Carried out deep dives on sustainable design and innovation, Committee concluded that to increase its effectiveness further, it environment strategy, procurement and communications would benefit from greater visibility of what other companies in the – Discussed the Company’s proposed CO emissions reduction 2 automotive industry are doing to promote sustainability and increase plan the time dedicated at meetings to deep dive topics. – Discussed and reviewed progress being made on Racing. Green. targets and requested enhancements to the dashboard reporting of the targets Further information on sustainability can be found on pages 42-63 and also in the Company’s 2023 Sustainability Report at www.astonmartinlagonda.com. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 107

GOVERNANCE DIRECTORS’ REMUNERATION REPORT S Directors’ Remuneration Report DEAR SHAREHOLDER TR I am pleased to present the Directors’ Remuneration Report (DRR) for A the year ending 31 December 2023, which has been approved by both TE G I the Remuneration Committee (the Committee) and the Board. C R E As set out by both the Executive Chairman and CEO in their statements, P O th R 2023 – the historic year of our 110 anniversary – represented another T important year for Aston Martin, with the efforts of our people ensuring significant strategic milestones and financial progress were delivered. The team has worked incredibly hard on our journey to G strengthen Aston Martin’s position as an ultra-luxury brand and key O 2023 achievements included the successful launches of the DB12 and VE R th NAN DB12 Volante, the global celebration of our historic 110 anniversary and the opening of our first global flagship location, Q New York. C E F I NAN C DR. ANNE We successfully launched our first IAL S all-employee share plan, “Aston T STEVENS A Martin Sharing. Success.”, awarding T CHAIR, REMUNERATION COMMITTEE E M 425 free shares to 2,541 E N T employees, giving everyone the S CONTENTS chance to share in the future F 110 Executive Directors’ Remuneration At a Glance success of the Company.” U R 111 Annual Report on Remuneration T H 111 FY 2023 total single figure remuneration E R 111 Salary, pension, and benefits INF 112 Annual bonus 113 Long-term incentive plan FY 2023 annual bonus approach and outcome OR 116 Share interests and shareholding guidelines M The Company-wide annual bonus that operated in 2023 included a A 117 CEO remuneration relative to employees T I 119 Non-Executive Directors’ remuneration Group scorecard of performance measures that applied to annual ON 121 Remuneration Committee in FY 2023 bonus for all employees, providing strong alignment of focus to best reflect annual progress on our business plan and KPIs. For 2023, the scorecard was weighted 85% on financial measures (including a 50% weighting on Adjusted EBITDA, 20% on Free Cash Flow and 15% on volumes) and 15% on Quality performance. All elements of the bonus operated independently, and with our FY 2023 Adjusted EBITDA outcome of £306m just ahead of the target set, a payment of 34% of maximum bonus (68% of target) will be paid based on Adjusted EBITDA, wholesale volumes and quality metrics achieved (and no payment with respect to the FCF or retail volumes measures, where outcomes were below the threshold set). Full details of performance against the 2023 annual bonus targets are set out on page 112. Against the backdrop of the overrall business performance for FY 2023, including the strategic milestones and financial progress delivered, the Committee was comfortable that the formulaic outcome was fair and appropriate, therefore no discretion was exercised in relation to the 2023 annual bonus. FY 2021 Long-Term Incentive Plan (LTIP) outcome Neither the CEO nor CFO held awards under the 2021 operation of the LTIP, as they were both appointed to their current roles during FY 2022. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 108

S S TR FY 2024 REMUNERATION APPROACH Broader workforce reward TR A FY 2024 executive director salaries Passionate, motivated and professional people are critical to the A TE The Committee reviewed the CEO and CFO’s salaries for 2024 and success of Aston Martin and, to attract and retain the best talent TE G G I I C decided to apply an increase of 3%, taking their salaries to £925,000 available, our pay and benefits must be competitive. When considering C R and £485,000 respectively from 1 April 2024. This level of increase the remuneration of the executive directors and executive committee, R E E P is lower than the 2024 average pay increases that will apply for the Committee considers remuneration across the whole Company. P O O R employees across the workforce. The Committee was kept informed of the key areas of focus around R T Aston Martin’s people during 2023. The leadership team continued to T FY 2024 annual bonus demonstrate their commitment to improving workplace engagement G The Committee has decided to broadly maintain the existing approach and culture, setting the goal to secure accreditation as a Great Place G O to the annual bonus. However, for 2024, we are making some important to Work® by 2025. Significant investment into our facilities, culture O VE changes to the Group KPI scorecard to incorporate an additional and organisation could be seen by our employees during 2023, and VE R R NAN non-financial performance element focused on ESG. detailed information on our People and progress during the year is set NAN out on page 50. C C E We have successfully launched and continue to embed and develop E our Sustainability strategy, Racing. Green., across Aston Martin. We On workforce reward more specifically, during the year the Committee strongly believe that an increased focus on ESG performance will help considered information on the policies and practices which are in F F I to improve operational excellence and drive innovation across the place throughout the Company. In particular, during 2023, we I NAN Company. Our ESG ambitions are central to our business and NAN successfully launched our first all-employee share plan, “Aston Martin C sustainability strategy, and are of critical importance to Aston Martin Sharing. Success.”, awarding 425 free shares to 2,541 employees. The C IAL as we focus on developing our culture and improving engagement IAL 2023 free share awards were incredibly well-received, with significant S across the workplace. The Committee believes that now is the right engagement from participants, giving everyone the chance to share in S T T A time for us to take our first steps to linking our incentives to ESG the future success of the Company. An annual award of free shares will A T T E measures aligned with our strategy. be made to all employees once again in 2024, which we believe will E M M E continue to build engagement across the workforce and a culture E N N T The 2024 Group KPI scorecard will therefore include an 80% weighting where our employees feel and behave like owners. T S S on financial measures, down from 85% last year (including a 50% weighting on Adjusted EBITDA, 20% on Free Cash Flow and 10% on In respect of the 2023 bonus, the Committee noted that the Group KPI F F U volumes). The non-financial element will continue to focus on our scorecard applied to bonuses for all employees and that the outcome U R R T Quality performance (with a 15% weighting) and the new ESG element, at 34% of maximum (68% of target) was considered a positive result, T H H E weighted at 5%, will focus on achieving metrics linked to the safety recognising how hard the team had worked and the significant E R R INF of our people. Whilst the Committee recognises that a weighting of continued progress made on the business plan and achievements INF 5% is relatively low compared to market practice, we believe it is during 2023, including the DB12 launch. OR appropriate as we continue to embed our Racing. Green. strategy OR M throughout the business and to also ensure focus is maintained on our We also discussed our approach to, and results of, Aston Martin’s M A A T critical financial and quality priorities. Looking ahead, we will review the Gender Pay Gap (GPG) reporting. Our aim is to foster a culture where T I I ON weighting and type of ESG measures in our incentive plans, including everybody feels valued, motivated and rewarded to achieve their best ON whether they should be incorporated in the annual bonus and LTIP, as work – detailed information on our People, including our Gender Pay we further develop and embed Racing. Green. within the organisation. Gap figures and ED&I strategy, can be found on pages 50 to 53. There is also information on the Board’s engagement with our workforce in There is no change to the bonus opportunity for the executive the People section and with our other stakeholders in the Governance directors. Full details of the 2024 annual bonus approach are set out section on page 26. on page 113. I would like to thank shareholders for the feedback and views shared FY 2024 LTIP with the Committee and for your continued support. If you have The Committee has decided to maintain the existing approach to the any questions on any element of this report, please email LTIP, with updated Adjusted EBITDA targets for 2024 awards [email protected] in the first instance and I hope (accounting for 80%) which reflect the new three-year period we can rely on your support at our forthcoming AGM. (1 January 2024 to 31 December 2026) of the business plan. The remaining 20% will payout based on relative TSR performance. There DR. ANNE STEVENS is no change to the LTIP opportunity for the executive directors, and CHAIR, REMUNERATION COMMITTEE awards will be subject to a 2-year post vesting holding period, in-line 27 February 2024 with our 2022 remuneration policy. Full details of the 2024 LTIP approach are set out on page 115. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 109

GOVERNANCE DIRECTORS’ REMUNERATION REPORT CONTINUED S Executive Directors’ remuneration at a glance TR A TE Our Remuneration Policy was approved by shareholders at the AGM on 25 May 2022 and is set out in full in the 2021 DRR. This can be found in the Annual G I C Report FY 2021 at www.astonmartinlagonda.com. R E P This section explains the outcomes from the implementation of our Policy during FY 2023. O R REMUNERATION OUTCOMES FOR FY 2023 T G FY 2023 Total Single Figure Remuneration for Executive Directors O The table below sets out the 2023 single figure of total remuneration received by the Executive Directors. VE R Amedeo Felisa Doug Lafferty NAN Element CEO (£’000s) CFO (£’000s) Salary 900 470 C Benefits 1,288 133 E Pension 95 50 Annual bonus 608 238 F I LTIP n/a n/a NAN Total 2,891 891 C IAL S Benefits for the CEO include the 2022 and 2023 cost of private flights for travel between Italy and the UK – full details are set out on page 112. T A T 2023 Annual bonus approach and outcome E M The CEO and CFO were eligible to receive an annual bonus of up to 200% and 150% of salary respectively, subject to performance. The table below sets out E N the Group KPI targets that applied for the 2023 annual bonus, the achieved performance and the level of payout as a % of maximum for each element. T S FY 2023 Threshold Target Maximum FY 2023 bonus payment Performance measure (weighting) (20%) (50%) (100%) achieved (% of maximum) F U Adjusted EBITDA (50%) £250m £300m £350m £306m 28% R T Free Cash Flow (20%) – £290m – £240m – £200m – £360m 0% H E Wholesale Volumes (7.5%) 6,400 6,900 7,300 6,620 2.5% R Retail Volumes (7.5%) 6,900 7,400 7,800 5,918 0% INF Quality (15%) Internal: 1 of 2 targets 1.9% OR CPA – Customer Perception Audit – an audit of a car achieved M that has completed all the production processes and is A T intercepted as it would be handed over to the outbound I transport company ON External – Warranty at 3 and 12 months in service: 3 of 8 targets 1.4% (1) CPU – Cost Per Unit achieved (2) DPU – Defects Per Unit Total (100%) 34% ALIGNMENT BETWEEN EXECUTIVE DIRECTORS AND SHAREHOLDERS The CEO and CFO are subject to shareholding guidelines of 300% and 200% of salary respectively, which drives long-term alignment with investors. Having taken up their executive director positions during FY 2022, the CEO held 35,820 shares (value of £81k) and the CFO held 370,990 shares (value of £838k or 178% of salary) as at 31 December 2023. The Committee noted that the CFO had met his shareholding guideline of 200% of salary based on the average share price over the full FY 2023 (which was £2.55). REMUNERATION POLICY AND IMPLEMENTATION IN FY 2024 The implementation of our Remuneration Policy for FY 2024 is set out in the following section (Annual Report on Remuneration). ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 110

S S TR Annual report on remuneration TR A A TE TE G FY 2023 TOTAL SINGLE FIGURE REMUNERATION FOR EXECUTIVE DIRECTORS (AUDITED) G I I C C R The table below sets out the single figure of total remuneration received by the Executive Directors in respect of FY 2023 (and the prior financial year). R E The subsequent sections detail additional information for each element of remuneration. E P P O O R Prior R T company T Total Annual Total incentive Shown in £’000s Salary Benefits Pension fixed bonus LTIP variable Total buyout Total G Executive director G O (1) O Lawrence Stroll VE Year to 31 December 2023 £1 (one) £1 (one) £1 (one) VE R R NAN Year to 31 December 2022 £1 (one) £1 (one) £1 (one) NAN (2) Amedeo Felisa C Year to 31 December 2023 900 1,288 95 2,283 608 n/a 608 2,891 – 2,891 C E Year to 31 December 2022 577 60 60 697 58 n/a 58 755 – 755 E (3) Doug Lafferty F Year to 31 December 2023 470 133 50 653 238 n/a 238 891 – 891 F I I NAN Year to 31 December 2022 299 16 31 346 23 n/a 23 369 1,313 1,682 NAN C C IAL Notes: IAL S 1. Lawrence Stroll has elected to receive a nominal salary only, of £1 per annum, and receives no other elements of remuneration S 2. 2022 remuneration for Amedeo Felisa relates to the period since becoming CEO, 4 May to 31 December 2022. The 2023 benefits figure for Amedeo Felisa includes both the 2022 and 2023 T cost of commuting flights between Italy and the UK, the Company also met the tax payable on these flights – full details are set out on page 112 T A 3. 2022 remuneration for Doug Lafferty relates to the period since joining, 1 May to 31 December 2022. As compensation for incentives he forfeited on leaving his previous employer, Doug A T T E Lafferty received buyout awards in 2022 and full details of these are set out in the Annual Report FY 2022 E M M E E N N T SALARY (AUDITED) T S S The Executive Directors’ 2023 salaries were as follows (effective from 1 January 2023) F – Amedeo Felisa (CEO) – £900,000 F U U R – Doug Lafferty (CFO) – £470,000 R T T H H E E R R INF The Committee reviewed the CEO and CFO’s salaries for 2024 and decided to apply an increase of 3%, taking their salaries to £925,000 and £485,000 INF respectively from 1 April 2024. This level of increase is lower than the average 2024 pay increases that will apply for employees across the workforce. OR OR M The Committee recognises that the CEO and CFO salaries appear high in a UK FTSE 250 context and continues to benchmark remuneration against global M A A T automotive and luxury companies, as these are the most relevant peers. The Committee considers the salary levels to be appropriate, as they: T I I ON ON – reflect the experience these executives have as proven talented automotive and manufacturing leaders – value the skills required to deliver the Company’s strategic objectives and financial targets – recognise the size of the task to deliver the turnaround of Aston Martin to achieve its full potential In his role as Executive Chairman, Lawrence Stroll has elected to receive a nominal salary only, of £1 per annum, and receives no other elements of remuneration. PENSION (AUDITED) Each Executive Director receives a cash allowance in lieu of participation in the defined contribution scheme. They receive an allowance of 12% of salary with a deduction for an amount equal to the employer’s National Insurance contribution. As disclosed in our Remuneration Policy, the Executive Directors’ pension allowances are in line with the majority of employees. The maximum level of employer pension contribution throughout the organisation is the same regardless of seniority (at 12% of salary for UK employees). No Director has a prospective entitlement to receive a defined benefit pension. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 111

GOVERNANCE DIRECTORS’ REMUNERATION REPORT CONTINUED S ALLOWANCES AND BENEFITS (AUDITED) Insurance TR A Car allowance and Life (private medical, Location TE Shown in £’000s Travel personal mileage assurance dental and travel) allowance Total G I Amedeo Felisa C Year to 31 December 2023 £1,183 £14 – – £91 £1,288 R E Year to 31 December 2022 – – – £60 £60 P O Doug Lafferty R Year to 31 December 2023 – £39 £5 £2 £87 £133 T Year to 31 December 2022 – £13 £2 £1 – £16 G O Amedeo Felisa (CEO) and other members of the leadership team have been commuting from their homes in Italy on a weekly basis to be present at Aston VE Martin’s UK sites. Recognising the efÏciency advantages around valuable time saved, productive time working (both as individuals and a team), as well as R privacy, flexibility and convenience, the Committee considered the use of private flights for the commute. NAN C After careful consideration, and with full support from the Executive Chairman, during 2023 the Committee approved the Company to covering the cost E (including any tax payable) of private flights for the commute between Italy and the UK for individuals including the CEO. The CEO will also receive reimbursement for the cost of flights associated with his commute since his appointment in 2022. As the decision was made during 2023, the cost related to F 2023 (at £814k) and 2022 (at £369k) is included in the FY 2023 single figure and above table. I NAN As previously disclosed, the CEO receives an annual cash allowance of £50,000 as location assistance, intended to cover his accommodation and subsistence C in the UK while he is away from his home in Italy during the working week. The Company also meets the tax payable on this allowance. IAL S T The Committee considered the working pattern of the CFO and approved the introduction of a location assistance allowance to recognise that he had a A T significant commute and was therefore renting accommodation away from home during the working week to be present on location at Aston Martin’s E M Gaydon headquarters. This allowance was set at £48,000 p.a. from 1 January 2023, with the Company also meeting the tax payable. E N T ANNUAL BONUS S Annual bonus outcomes for FY 2023 (audited) F The annual bonus in 2023 operated in-line with the Company-wide approach first introduced in 2021, including a Group scorecard of performance measures U R to best reflect annual progress on our business plan and KPIs. The Group scorecard was cascaded throughout the Company to apply to annual bonus for all T H employees, providing strong alignment of focus. E R INF For 2023, the scorecard was weighted 85% on financial measures (including a 50% weighting on Adjusted EBITDA, 20% on Free Cash Flow and 15% on volumes) and 15% on Quality performance. The performance targets for each measure were set by the Committee at the start of the year, considering the OR business plan for 2023 and market expectations. The table below sets out the Group KPI targets, the achieved performance and the level of pay out of the M A bonus as a % of maximum for each element. T I ON 2023 Group KPI targets FY 2023 Threshold Target Maximum FY 2023 bonus payment Performance measure (weighting) (20%) (50%) (100%) achieved (% of maximum) Adjusted EBITDA (50%) £250m £300m £350m £306m 28% Free Cash Flow (20%) – £290m – £240m – £200m – £360m 0% Wholesale Volumes (7.5%) 6,400 6,900 7,300 6,620 2.5% Retail Volumes (7.5%) 6,900 7,400 7,800 5,918 0% Quality (15%) Internal: 1 of 2 targets 1.9% CPA – Customer Perception Audit – an audit of a car achieved that has completed all the production processes and is intercepted as it would be handed over to the outbound transport company External – Warranty at 3 and 12 months in service: 3 of 8 targets 1.4% (1) CPU – Cost Per Unit achieved (2) DPU – Defects Per Unit Total (100%) 34% For 2023, all elements of the bonus operated independently, and with our FY 2023 Adjusted EBITDA outcome of £306m just ahead of the target set, a payment of 34% of maximum bonus (68% of target) will be paid based on Adjusted EBITDA, wholesale volumes and quality metrics achieved (and no payment with respect to the FCF or retail volumes measures). ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 112

S S TR The CEO’s 2023 bonus payment will be delivered 50% in cash and 50% in shares, deferred for three years (as he is yet to meet his shareholding guideline). As TR A set out on page 116, the CFO had met his shareholding guideline during the year and so the Committee determined that his bonus would be paid 100% in cash. A TE TE G G I Maximum bonus Performance 2023 2023 2023 I C opportunity measures/ Level of 2023 bonus payment bonus payment bonus payment C R Annual bonus for FY2023 R (% of salary) targets achievement (% of maximum) (% of salary) (£’000s) E E P Amedeo Felisa* 200% Group KPI See table on 34% 68% £608 P O O R Doug Lafferty 150% targets previous page 34% 51% £238 R T T * 50% of Amedeo Felisa’s net 2023 bonus payment will be delivered in shares, deferred for three years G G O In determining this outcome, the Committee noted that the Group KPI scorecard applied to the 2023 bonus for all employees and that the outcome at 34% O VE VE of maximum was considered a positive result, recognising how hard the team had worked and the significant continued progress made on the business plan R R NAN and achievements during 2023, including the DB12 launch. NAN C ANNUAL BONUS FOR FY 2024 C E As detailed in the Committee Chair’s letter, the 2024 annual bonus will include a Group scorecard of performance measures aligned with our business plan. E For 2024, we are making some important changes to the Group KPI scorecard to incorporate an additional ESG performance measure focused on the safety F of our people. The Board spent time considering what would be the most appropriate ESG metric, and decided to focus on our safety performance as the F I I NAN starting point, with safety being the foundation of any high performing manufacturing business and the importance of everyone across the workforce NAN C focusing on keeping each other safe. C IAL IAL S While we recognise that the weighting on ESG is relatively low compared to market practice, we believe that this is the right approach as we continue to S T T A embed our approach to ESG across the business. We are committed to demonstrating progress over time given its strategic importance and so we will A T T E continue to keep the weighting, measures and inclusion of ESG metrics in the annual bonus and / or LTIP under review as we evolve our approach. E M M E E N N T The 2024 Group KPI scorecard is set out in the table below, the actual targets remain commercially sensitive and will be disclosed retrospectively in the 2024 T S DRR, when the 2024 performance year is complete. S F Group KPI scorecard to apply to 2024 annual bonus F U Area Profit Cash Volumes Quality ESG U R R T T H Measure Adjusted Free Cash Flow Wholesale In-house (CPA) Safety (AFR) H E EBITDA (FCF) volumes External (warranty) E R R INF Weighting 50% 20% 10% 15% 5% INF OR OR M These Group KPI measures are aligned with our Company KPIs as set out in the Strategic Report on pages 34 and 35. The Committee has selected the ESG M A measure of Accident Frequency Rate (AFR) – this is a reported, well-established KPI which ensures we are able to define a target that is quantifiable and A T T I I ON measurable, and clearly aligned with our strategy and the goals we have committed to in our 2024 Sustainability Report. ON We believe this Group KPI scorecard includes the right balance of measures to make progress during 2024 towards delivering our long-term strategy. Full details of our Sustainability strategy, Racing. Green., including our ESG goals can be found in our 2024 Sustainability Report at www.astonmartinlagonda. com. The Committee will continue to have the discretion to adjust bonus outcomes to ensure they are appropriate and reflect underlying business performance/ any other relevant factors. LONG-TERM INCENTIVE PLAN The following section sets out details of: – 2023 LTIP awards granted during FY 2023 – 2023 DBSP awards granted during FY 2023 – Approach to 2024 LTIP awards – CEO 2022 LTIP share award – adjustment to take account of the 2022 open offer ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 113

GOVERNANCE DIRECTORS’ REMUNERATION REPORT CONTINUED S 2023 LTIP AWARDS GRANTED DURING FY 2023 (AUDITED) TR The CEO was not granted an LTIP award in 2023. A TE G I 2023 LTIP share award – CFO C R The approach to 2023 LTIP awards was set out in detail in the 2022 DRR, ahead of the grant date (in May 2023). The table below summarises the LTIP share E award that was granted to the CFO during FY 2023. P O R Number Face value T of shares at grant FY 2023 Type of award Basis of award awarded (£’000s) Doug Lafferty LTIP share award 200% of salary 352,852 £940 G O Notes: VE (1) The LTIP shares were granted on 24 May 2023 and will vest subject to the performance conditions and vesting schedule set out below R (2) The award was granted in the form of nil-cost options NAN (3) The face value of the award was calculated using the 3-day average price prior to the date of grant (£2.66) C The 2023 LTIP award granted to the CFO is subject to the performance conditions detailed below. E 2023 LTIP performance measures and targets F I 2023 LTIP Vesting* NAN (as a % of targets maximum) C Adjusted EBITDA Threshold 400 20% IAL (£m in FY25) Stretch 475 80% S (80% of award) Maximum 550 100% T A Relative TSR** Threshold Rank 6th 20% T E (vs. luxury peers) (median) M E (20% of award) Maximum Rank 3rd 100% N T or above S (80th percentile) F * Vesting will be on a straight-line basis between each of threshold and stretch, and stretch and maximum for the EBITDA element and threshold and maximum for the TSR element. U ** TSR performance will be measured on a ranked basis against the following luxury companies: Burberry, Capri Holdings, Compagnie Financiere Richemont, Ferrari, Hermes International, R T Kering, LVMH, Moncler, Prada and Ralph Lauren. H E R INF The Remuneration Committee retains discretion to adjust the vesting levels to ensure they reflect underlying business performance and any other relevant factors to ensure that the value at vesting is fully reflective of the performance delivered and executives do not receive unjustified windfall gains. OR M Performance period A T I Performance for both measures will be measured over three financial years to 31 December 2025. Subject to performance, awards will vest 3 years from ON grant, following the announcement of results for 2025 but subject to a further 2-year holding period post vest (net of tax). The CFO will be required to hold at least 75% of any shares that vest (net of tax) unless he has met his shareholding guidelines under the shareholding policy at that time. 2023 DBSP awards granted during FY 2023 In accordance with the rules of the Aston Martin Lagonda Deferred Share Bonus Plan 2018 (“DBSP”), the Directors named below were granted nil-cost options over Shares as follows: – Amedeo Felisa (CEO) – 5,820 shares – Doug Lafferty (CFO) – 12,221 shares The DBSP awards are in relation to the 2022 annual bonus which, as disclosed in the 2022 Directors’ Remuneration Report, was to be delivered 50% in cash and 50% in deferred shares. The number of shares granted reflects the net bonus amount (post tax and NI). Shares under the DBSP awards are deferred for a period of 3 years from grant and will be released, subject to continued employment, on 24 May 2026. Malus and Clawback: – Malus and clawback provisions will be operated at the discretion of the Remuneration Committee in respect of awards granted under the LTIP and DBSP where it considers that there are exceptional circumstances. Such exceptional circumstances may include serious reputational damage, a failure of risk management, an error in available financial information, which led to the award being greater than it would otherwise have been or personal misconduct. – Clawback may be applied for a period of up to three years for any LTIP and DBSP awards. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 114

S S TR APPROACH TO 2024 LTIP AWARDS TR A The Committee decided that Adjusted EBITDA continues to be the most appropriate measure of profit for the 2024 LTIP, given market and internal focus on A TE this key metric, which is used to manage the business. The Committee believes strong performance in Adjusted EBITDA is key to delivering strong shareholder TE G G I I C returns. The Adjusted EBITDA targets have been carefully calibrated based on Aston Martin’s latest business plan and external expectations. The range has C R R been set to be stretching (extremely so at the maximum vesting level) yet motivating in the context of our business plan and the continued uncertainty in the E E P current environment. P O O R R T T Relative Total shareholder return (TSR) as the second measure, recognises the importance of shareholder alignment and also the self-calibrating nature of TSR as an objective measure of performance. TSR will be measured on a relative basis, against a select group of luxury companies, which aims to incentivise G further elevation of the Aston Martin brand, by out-performance of these high-end luxury companies. Ultimately, the successful delivery of our business plan G O O VE and strategy (detailed on pages 32 and 33) will be reflected in our Adjusted EBITDA and TSR performance. VE R R NAN It is anticipated that 2024 LTIP awards will be granted in May 2024, with awards at the following levels: NAN – Amedeo Felisa (CEO) – 300% of salary C C E – Doug Lafferty (CFO) – 200% of salary E 2024 LTIP performance measures and targets F Vesting* F I I NAN 2024 LTIP (as a % of NAN targets maximum) C Adjusted EBITDA Threshold 450 20% C IAL (£m in FY26) Stretch 550 80% IAL S (80% of award) Maximum 650 100% S T T A Relative TSR** Threshold Rank 6th 20% A T T E (vs. luxury peers) (median) E M M E (20% of award) Maximum Rank 3rd 100% E N or above N T T S (80th percentile) S * Vesting will be on a straight-line basis between each of threshold and stretch, and stretch and maximum for the EBITDA element and threshold and maximum for the TSR element F F U ** TSR peers as per 2023 LTIP, detailed on page 114 U R R T T H H E The Remuneration Committee retains discretion to adjust the vesting levels to ensure they reflect underlying business performance and any other relevant E R R INF factors to ensure that the value at vesting is fully reflective of the performance. INF OR Performance period OR M Performance for both measures will be measured over three financial years to 31 December 2026. Subject to performance, awards will vest 3 years from M A A T grant, following the announcement of results for 2026 but subject to a further 2 year holding period post vest (net of tax). T I I ON ON The CEO and CFO will be required to hold at least 75% of any shares that vest (net of tax) until they have met their shareholding guidelines under the shareholding policy at that time. CEO 2022 LTIP share award – adjustment to take account of the 2022 open offer In line with standard practice in the event of an equity raise, the share price targets were adjusted during the year to reflect the dilutive effect of the 2022 open offer using the market-standard theoretical ex-rights price (“TERP”) approach (no adjustments were made in respect of the firm placing). This neutralises the dilutive effect of the open offer ensuring the stretch of the targets is maintained, making the revised targets no easier or harder to achieve than when they were originally set. This approach means the CEO’s 2022 LTIP award would continue to meet the incentive objectives for which it was originally granted. The share price performance measure and targets are set out below. 2022 LTIP performance measures and targets (CEO) – Share price performance will be assessed based on the share price of the Company during any period of 30 consecutive days during the performance period (from 13 June 2022 to 12 June 2024) – The shares under the award will commence vesting if the share price exceeds £3.71 and will vest as follows: 2022 LTIP targets Vesting* (as a % of Pre-adjustment Post-adjustment maximum) Share price of the Company to exceed £x for 30 consecutive days Threshold £10 (or less) £3.71 (or less) 0% Maximum £18 £6.67 100% * Vesting will be on a straight-line basis between threshold and maximum ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 115

GOVERNANCE DIRECTORS’ REMUNERATION REPORT CONTINUED S SHARE INTERESTS AND SHAREHOLDING GUIDELINES (AUDITED) TR The CEO and CFO are subject to shareholding guidelines of 300% and 200% of salary respectively, which drives long-term alignment with investors. A TE G I The following table sets out the total beneficial interests of the executive directors (and their connected persons) in ordinary shares of the Company as at C 31 December 2023, as well as the status against the shareholding guidelines. The table also summarises conditional interests in share or option awards. R E P LTIP award O R Shares owned Shares vested Total shares Shareholding shares unvested T but subject owned outright As a % guideline Guideline and subject to 1 2 3 4 As at 31 December 2023 outright to future release or vested of salary (as % of salary) met? performance Amedeo Felisa 30,000 5,820 35,820 9.0% 300% No 872,828 5 G Doug Lafferty 358,769 12,221 370,990 178.4% 200% No 652,107 O Lawrence Stroll6 208,581,263 – 208,581,263 n/a n/a VE R Notes: NAN (1) These shares were awarded under the deferred bonus plan in respect of 50% of the net (post tax and NI) 2022 annual bonus payment (2) There have been no changes in the period up to and including 27 February 2024 C (3) Based on the closing share price on 31 December 2023 of £2.26 E (4) These shares were granted under the 2022 and 2023 LTIP awards (5) The Committee noted that the CFO had met his shareholding guideline of 200% of salary based on the average share price over the full FY 2023 (which was £2.55) (6) The number of shares shown for Lawrence Stroll includes both direct and indirect interests F I TSR PERFORMANCE GRAPH AND CEO REMUNERATION NAN C The Company’s shares started trading on the London Stock Exchange’s main market for listed securities on 8 October 2018. IAL The graph below shows the TSR performance of £100 invested in the Company’s shares since listing, compared to the FTSE 250 index which has been chosen S T A because the Company has been a constituent of this index since listing. T E M E TSR vs. the FTSE250 N T 140 S 120 F U R T 100 H E R 80 INF OR 60 M A T I 40 ON 20 0 8-Oct-18 31-Dec-18 31-Dec-19 31-Dec-20 31-Dec-21 31-Dec-22 31-Dec-23 AML FTSE 250 The table below shows the total remuneration earned by the incumbent CEO over the same period, along with the percentage of maximum opportunity earned in relation to each type of incentive. The total amounts are based on the same methodology as used for the single figure of total remuneration for FY 2023 on page 111. CEO total remuneration 2018(1) 2018(2) 2019 2020 2020 2021 2022 2022 2023 FY (AP) (AP) (AP) (AP) (TM) (TM) (TM) (AF) (AF) Total remuneration (£’000s) 407 1,347 1,353 476 1,341 1,055 402 755 2,891 Bonus (% of maximum) 0% 0% 0% 0% 20% 0% 5.05% 5.05% 34% LTIP (% of maximum) n/a n/a n/a n/a n/a n/a 0 n/a n/a Notes: (1) FY 2018 remuneration shown is for the period 8 October to 31 December 2018, annual bonus was restated to zero as set out in the 2019 DRR (2) The amounts shown for FY 2018 in the second column have been annualised, as if the Remuneration Policy operated since IPO had been in place for the full year (as disclosed in the 2018 DRR, with bonus restated to zero) (3) Amedeo Felisa (AF, CEO from 4 May 2022), Tobias Moers (TM, CEO from 1 August 2020 to 4 May 2022), Dr Andy Palmer (AP, CEO to 25 May 2020) ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 116

S S TR DIRECTOR REMUNERATION RELATIVE TO EMPLOYEES TR A The table below shows the percentage change in Directors’ remuneration and average remuneration of employees on an annual basis. For comparison A TE TE G purposes, only Directors who had periods of service in both 2023 and 2022 have been included and amounts have been adjusted in all years to reflect a full G I I C year equivalent to enable a meaningful reflection of year-on-year change. C R R E 2023 2022 2021 E P P O Year-on-year change (%) Salary/ fees Bonus Benefits Salary/ fees Bonus Benefits Salary/ fees Bonus Benefits O R R T Average employee 12.8% 569% 0.0% 6.0% 23.0% 0.0% T Executive Directors Lawrence Stroll 0.0% – – 0.0% – – 0.0% – – G G O Amedeo Felisa 3.0% 593% 1,317% – – – – – – O VE Doug Lafferty 5.5% 595% 457% – – – – – – VE R Non-Executive Directors R NAN Ahmed Al-Subaey 6.8% – – – – – – – – NAN C Nigel Boardman 35.0% – – – – – – – – C E Robin Freestone 10.6% – – 0.0% – – – – – E Natalie Massenet 6.0% – – 1.0% – – – – – Marigay McKee 19.0% – – 2.0% – – – – – F F I I NAN Franz Reiner 9.2% – – 0.0% – – – – – NAN Scott Robertson 6.1% – – – – – – – – C C IAL Anne Stevens 9.9% – – 19.0% – – – – – IAL S Former Non-Executive Directors S Antony Sheriff –26.2% – – 60.0% – – – – – T T A A T T E Notes: E M M E (1) The comparator group includes all UK employees. This group represents the majority of Aston Martin employees and is the same group used for the pay ratio reporting below. E N (2) For the comparator group of employees, the salary year-on-year change is shown includes the annual salary review from 1 January 2023 but excludes any additional changes made in the N T year, for example on promotion T S (3) For benefits, there were no changes to benefit policies or levels during the year. The 2023 benefits figure for Amedeo Felisa includes both the 2022 and 2023 cost of commuting flights S between Italy and the UK, the Company also met the tax payable on these flights – full details are set out on page 112 (4) NED fees were increased for the 2023 year, as set out in last year’s report. Nigel Boardman took on the role of SID during 2023 and Marigay McKee became a member of the Nomination F Committee during the year – the increases shown reflect fees for these additional roles F U U R R T T H CEO PAY RATIOS H E E R The ratios, set out in the table below, compare the total remuneration of the incumbent CEO (as included in the single figure table on page 111) to the R INF remuneration of the median UK employee as well as employees at each of the lower and upper quartiles. INF OR 25th percentile Median 75th percentile OR M (P25) (P50) (P75) M A A T Salary of employee identified (FY 23) T I I ON Total remuneration of employee identified (FY 23) £42k £42k £42k ON £49k £49k £49k CEO pay ratios (Option A) FY 23 59 to 1 50 to 1 41 to 1 FY 22 26 to 1 22 to 1 18 to 1 FY 21 27 to 1 23 to 1 19 to 1 FY 20 53 to 1 45 to 1 37 to 1 FY 19 34 to 1 29 to 1 24 to 1 The ratios are calculated using ‘option A’ as set out in the disclosure regulations. The employees at the lower quartile, median and upper quartile (P25, P50 and P75) were determined based on total remuneration for FY 2023 using a calculation approach consistent with that used for the incumbent CEO in the single figure table on page 111. The Committee chose to use option A on the basis that it would provide the most accurate approach to identifying the median, lower and upper quartile employees. The Committee considers pay ratios as one of many reference points when considering remuneration. Throughout Aston Martin, pay is positioned to be fair and market competitive in the context of the relevant talent market for each role. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 117

GOVERNANCE DIRECTORS’ REMUNERATION REPORT CONTINUED S RELATIVE IMPORTANCE OF SPEND ON PAY FOR FY 2023 TR The table below sets out the total payroll costs for all employees for FY 2023 compared to distributions to shareholders by way of dividend and share A buyback. Adjusted EBITDA is also shown as context. TE G I C FY 2023 FY 2022 R Adjusted EBITDA £m 306 190 E P % change +61% n/a O R Distributions to shareholders £m 0 0 T % change 0% 0% Payroll costs for all employees £m 221.7 189.4 G % change +17.1% O VE R SERVICE AGREEMENTS NAN The table below sets out information on service agreements for the executive directors. C Executive Director Title Effective date of service agreement Notice period to and from the Company E Lawrence Stroll Executive Chairman 20 April 2020 Mr Stroll’s appointment is terminable in accordance with the Yew Tree F I Relationship Agreement NAN Amedeo Felisa Chief Executive OfÏcer 24 May 2022 12 months C Doug Lafferty Chief Financial OfÏcer 13 January 2022 12 months IAL S The service agreements for Executive Directors are available for inspection by shareholders at the registered ofÏce of the Company. T A T E EXTERNAL APPOINTMENTS M E It is recognised that Non-Executive Directorships can provide a further level of experience that can benefit the Company. As such, Executive Directors may N T usually take up one Non-Executive Directorship (broadly equivalent in terms of time commitment to a FTSE 350 Non-Executive Directorship role) subject to S the Board’s approval as long as there is no conflict of interest. A Director may retain any fee received in respect of such Non-Executive Directorship. Neither the CEO nor the CFO has any Non-Executive Directorships. F U R T PAYMENTS FOR LOSS OF OFFICE H E No payments for loss of ofÏce were made during the financial year. R INF PAYMENTS TO PAST DIRECTORS OR No payments were made to past Directors during the year. M A T I ON ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 118

S S TR NON-EXECUTIVE DIRECTORS’ REMUNERATION (AUDITED) TR A The Policy on remuneration for Non-Executive Directors is set out in the Directors’ Remuneration Report FY 2021 (which can be found in the Annual Report A TE TE G FY 2021 at www.astonmartinlagonda.com). G I I C C R R The table below sets out the single figure of total remuneration received or receivable by the Non-Executive Directors in respect of FY 2023 (and the prior E E P financial year). P O O R R T Shown in £’000s Total fees T Non-Executive Directors Ahmed Al-Subaey G G O Year to 31 December 2023 65 O VE Year to 31 December 2022 10 VE R Nigel Boardman R NAN Year to 31 December 2023 90 NAN C Year to 31 December 2022 17 C E Michael de Picciotto E Year to 31 December 2023 – Year to 31 December 2022 – F F I I NAN Robin Freestone NAN Year to 31 December 2023 94 C C IAL Year to 31 December 2022 85 IAL S Cyrus Jilla S Year to 31 December 2023 – T T A Daniel Li Donghui A T T E E M Year to 31 December 2023 29 M E E N Natalie Massenet N T T S Year to 31 December 2023 71 S Year to 31 December 2022 67 Marigay McKee F Year to 31 December 2023 75 F U U R R T Year to 31 December 2022 63 T H H E Franz Reiner E R R INF Year to 31 December 2023 71 INF Year to 31 December 2022 65 OR Scott Robertson OR M Year to 31 December 2023 71 M A A T Year to 31 December 2022 11 T I I ON Anne Stevens ON Year to 31 December 2023 111 Year to 31 December 2022 101 Jean Tomlin Year to 31 December 2023 13 Former Non-Executive Directors Antony Sheriff Year to 31 December 2023 40 Year to 31 December 2022 145 Notes: (1) Nigel Boardman became the SID on 1 October 2022 (2) Cyrus Jilla joined the Board on 27 October 2023 (3) Daniel Li Donghui joined the Board on 28 July 2023 (4) Marigay McKee became a member of the Nomination Committee on 17 May 2023 (5) Jean Tomlin joined the Board on 27 October 2023 (6) Antony Sheriff stepped down from the Board on 17 May 2023 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 119

GOVERNANCE DIRECTORS’ REMUNERATION REPORT CONTINUED S SUMMARY OF NON-EXECUTIVE DIRECTORS’ FEES FOR FY 2024 TR The table below sets out the annual fee structure for the NEDs for 2024 (there are no changes to the fee levels that applied in 2023). A TE G FY 2023 fee FY 2024 fee I NED role (£’000s) (£’000s) C Basic NED fee 65 65 R E P SID fee 17 17 O R Committee Chair 17 17 T Committee member 6 6 G NON-EXECUTIVE DIRECTOR SHAREHOLDINGS (AUDITED) O The table below summarises the total interests of the Non-Executive Directors (and their connected persons) in ordinary shares of Aston Martin Lagonda VE Global Holdings plc as at 31 December 2023 (or at the date of stepping down, if earlier). R NAN Total number 1 C Non-Executive Directors of shares owned Ahmed Al-Subaey 704,312 E Nigel Boardman 50,376 2 6,285,660 F Michael de Picciotto I Robin Freestone 38,929 NAN Cyrus Jilla – C Daniel Li Donghui – IAL Natalie Massenet 20,000 S Marigay McKee – T A Franz Reiner 13,477 T E Scott Robertson – M E Anne Stevens 35,000 N T Jean Tomlin – S Former Non-Executive Directors 3 – Anthony Sheriff F U R Notes: T (1) Other than those stated below, there have been no changes in the period up to and including 27 February 2024 H E (2) Held via St James Invest SA R (3) Antony Sheriff stepped down from the Board on 17 May 2023 – shareholding shown is as at this date INF LETTERS OF APPOINTMENT OR The Non-Executive Directors have letters of appointment. All Non-Executive Directors’ appointments and subsequent re-appointments are subject to annual M A T re-election at the AGM. Dates of the letters of appointment of the Non-Executive Directors as at the date of this report are set out in the table below. I ON Non-Executive Directors Date of appointment Notice period Ahmed Al-Subaey 1 November 2022 3 months Nigel Boardman 1 October 2022 3 months Michael de Picciotto 24 April 2020 3 months Robin Freestone 1 February 2021 3 months Natalie Massenet 8 July 2021 3 months Marigay McKee 8 July 2021 3 months Cyrus Jilla 27 October 2023 3 months Daniel Li Donghui 28 July 2023 3 months Franz Reiner 8 July 2021 3 months Scott Robertson 1 November 2022 3 months Anne Stevens 1 February 2021 3 months Jean Tomlin 27 October 2023 3 months The terms and conditions of appointment for Non-Executive Directors are available for inspection by shareholders at the registered ofÏce of the Company. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 120

S S TR REMUNERATION COMMITTEE IN FY 2023 TR A Committee membership A TE The following Directors served as members of the Committee during FY 2023: TE G G I I C C R – Anne Stevens (Chair) R E E P – Robin Freestone P O O R – Antony Sheriff (until 17 May 2023 when he stepped down from the Board) R T – Natalie Massenet T G Committee remit G O The Committee’s Terms of Reference are published on www.astonmartinlagonda.com. O VE VE R R NAN In addition to setting the remuneration of the Executive Directors, the Committee continues to directly oversee the remuneration arrangements for the other NAN Chief level roles (including Chief Creative OfÏcer, Chief Global Brand and Commercial OfÏcer, Chief Industrial OfÏcer, Executive Consultant to the CEO, C C E General Counsel, Chief Technology OfÏcer, Chief People OfÏcer and Chief Procurement OfÏcer). E SUMMARY OF MEETINGS F F I The Committee typically meets four to six times a year. During FY 2023, the Committee met six times and the agenda items discussed at these meetings are I NAN summarised below. NAN C C IAL Early February – 2022 quality metrics – review of performance and outcome IAL S – 2022 annual bonus – expected outcome S T – 2023 approach to incentives – financial measure targets T A A T T E – Review of draft FY 2022 DRR E M Late February – Approval of 2022 annual bonus payment M E E N – 2020 LTIP – outcome of Adjusted EBITDA element N T T S – Approval of 2023 incentives – performance measures and targets S – Approval of 2023 LTIP awards – Approval of 2022 Directors’ Remuneration Report F F U – Approval of 2022 Gender Pay Gap report U R R T T H – Approval of all employee share plan (SIP) – rule amendments H E E R – Approval of Chief Industrial OfÏcer remuneration R INF – Approval of Chief population 2023 remuneration INF – Approval of Chief population retention awards OR March – Approval of Chief Procurement OfÏcer remuneration OR M M A – Approval of Chief Global Brand and Commercial OfÏcer remuneration A T T I July – Update on external reward environment I ON – Approval of Chief population – Commuting flights ON – Approval of adjustment to share price targets for CEO 2022 LTIP award October – Approval of Chief Creative OfÏcer remuneration December – Update on external reward environment and latest investor guidelines – Update on broader employee reward, including TU pay negotiations – Expected 2023 annual bonus and 2021 LTIP outcomes – FY 2024 incentives approach – Approval of 2024 all-employee share award – Remuneration Committee annual evaluation – Approval of updated Remuneration Committee terms of reference ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 121

GOVERNANCE DIRECTORS’ REMUNERATION REPORT CONTINUED SS ATTENDANCE AT COMMITTEE MEETINGS TRTR The following table sets out the number of meetings attended by each Committee member during FY 2023 AA TETE GG Director Meetings Attended II CC Robin Freestone 6/6 R R Natalie Massenet 6/6 EE PP Antony Sheriff 3/6 OO RR Anne Stevens 6/6 TT Committee performance evaluation GG The Committee was evaluated as part of the internal effectiveness review of the Board and its Committees (details of which can be found on pages 92 and 93). OO VEVE The Committee also reviewed its own performance and was satisfied that it continued to perform effectively and had worked constructively and collaboratively RR in year of many committee changes and business activities and was rated highly by the members and other respondents to the evaluation survey. NANNAN The focus of the Committee for the forthcoming year will be to review the adequacy of the maintenance of dialogue with key institutional investors and their CC representatives and to improve the dialogue with and visibility of the external advisors and the Committee. EE Advice to the Committee FF II The Chair of the Board and members of the management team are invited to attend Committee meetings where appropriate, except when their own NANNAN remuneration is being discussed. During the year the Executive Chairman, CEO, CFO, VP and General Counsel, Company Secretary, Chief People OfÏcer, CC Executive Consultant to the CEO and Director of Reward attended meetings at the Committee’s invitation. IALIAL S S TT The Committee has received independent advice on remuneration from Willis Towers Watson (WTW). WTW is a member of the Remuneration Consultants’ AA TT Group and, as such, voluntarily operates under the Remuneration Consultants’ Group Code of Conduct in relation to executive remuneration consulting in the EE MM UK. The Committee is satisfied that the advice provided by WTW is independent and objective. WTW has no other connection with the Company. Total fees EE NN received by WTW in relation to remuneration advice provided that materially assisted the Committee during FY 2023 were £38,250, which had been charged TT on a time spent basis. SS Freshfields also provided legal advice to the Committee in relation to the operation of the Company’s share plans, employment law considerations and FF UU compliance with legislation. RR TT HH EE RR REMUNERATION VOTING RESULTS INF INF The table below shows the results of the shareholder votes at the 2023 AGM on the DRR and at the 2022 AGM on the Directors’ Remuneration Policy. AGM voting results Votes for Votes against Votes withheld OROR MM 2023 AGM: To approve the DRR for the year ending 31 December 2022 543,945,821 18,677,537 6,884 AA TT II (96.68%) (3.32%) ONON 2022 AGM: To approve the 2022 Directors’ Remuneration Policy 67,922,049 1,772,525 4,251 (97.46%) (2.54%) APPROVAL This report has been approved by the Board and signed on its behalf by: DR. ANNE STEVENS CHAIR, REMUNERATION COMMITTEE 27 February 2024 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 122

DIRECTORS’ REPORT SS S TRTR ABOUT THE DIRECTORS’ REPORT TR AA This Directors’ Report sets out the information required to be disclosed by the Company in compliance with the Companies Act 2006, the UK Listing Rules A TETE TE GG and the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules (DTRs). It forms part of the management report as required under the G II I CC DTR, along with the Strategic Report (pages 4-71) and other sections of this Annual Report and Accounts including the Corporate Governance Report (pages C R R R 72-122) all of which are incorporated by reference, as outlined in the table below. EE E PP P OO O RR Information Reported in Pages R TT Business model Strategic Report 30-31 T Corporate governance framework Corporate Governance Report 83-85 GG G OO Community and charitable giving Strategic Report 27 and 42 O VEVE Credit market and liquidity risks Financial Statements (note 23) 176-185 VE RR R NANNAN Directors’ conflicts of interest Corporate Governance Report 95-96 NAN CC Directors’ share interests and remuneration Directors’ Report on Remuneration 108-122 C EE Director training and development Corporate Governance Report 96 E Equity, Diversity and Inclusion Strategic Report 50-53 FF F II Nomination Committee Report 97 I NANNAN Employee engagement Strategic Report 50-53 NAN CC Governance Report 89 C IALIAL Financial instruments Financial Statements (note 23) 176-185 IAL S S S TT Future developments and strategic priorities Strategic Report 32-33 T AA A TT T EE Going concern statement Financial Statements (note 1) 147-148 E MM M EE Greenhouse gas emissions Strategic Report 47 E NN N TT T SS Health and safety Strategic Report 51 S Human rights Directors’ Report 127 FF Modern Slavery Statement Strategic Report 71 F UU U RR R TT Principal risks and risk management Strategic Report 64-69 T HH H EE E RR Non-financial and sustainability information Strategic Report 71 R INF INF Non-pro rata allotments for cash Financial Statements (note 27) 191 INF OROR Results Consolidated Income Statement 142 OR MM M AA Risk management and internal control Strategic Report 64-69 A TT T II I ONON Section 172 Statement Strategic Report 28-29 ON Stakeholder engagement Strategic Report 24-27 Statement of Directors’ Responsibilities Directors’ Report 129 Viability Statement Strategic Report 70 Workforce engagement Governance Report 89 Strategic Report 50-53 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 123

GOVERNANCE DIRECTORS’ REPORT CONTINUED S DIRECTORS TR Details of Directors who served throughout the year are set out in the table below. Daniel Li, Jean Tomlin and Cyrus Jilla will be offering themselves for A TE election in accordance with the Company’s Articles of Association at the 2024 AGM and all the remaining existing Directors will be offering themselves for G I re-election. C R Name Date of appointment Date of cessation E P Lawrence Stroll 20 April 2020 O R 1 T Amedeo Felisa 4 May 2022 as CEO Doug Lafferty 1 May 2022 Ahmed Al-Subaey 1 November 2022 G Sir Nigel Boardman 1 October 2022 O Michael de Picciotto 24 April 2020 VE Robin Freestone 1 February 2021 R Cyrus Jilla 27 October 2023 NAN Daniel Li 28 July 2023 C Dame Natalie Massenet, DBE 8 July 2021 E Marigay McKee, MBE 8 July 2021 Franz Reiner 8 July 2021 F I Scott Robertson 1 November 2022 NAN Antony Sheriff 1 February 2021 17 May 2023 C Dr. Anne Stevens 1 February 2021 IAL Jean Tomlin, OBE 27 October 2023 S T 1 Amedeo Felisa was appointed an Independent Non-executive Director on 8 July 2021 and was appointed Chief Executive OfÏcer on 4 May 2022. A T E M DIRECTORS’ INSURANCE AND INDEMNITIES ANNUAL GENERAL MEETING E N The Company’s Articles of Association provide for the Directors and The Company’s Annual General Meeting (AGM) will be held T S ofÏcers of the Company to be appropriately indemnified subject to electronically by audio webcast at 10.30am on Wednesday 8 May the provisions of the Companies Act 2006. In addition, the Company 2024. The Notice of the AGM will be available on the Company’s F maintains Directors’ and OfÏcers’ liability insurance, which provides website at www.astonmartinlagonda.com/investors. U R cover for legal actions brought against its Directors and ofÏcers. T H Neither the Company’s indemnity nor insurance covers claims arising ARTICLES OF ASSOCIATION E R from dishonesty or fraud. In addition, each Director of the Company The Articles of Association set out the internal regulation of the INF also has the benefit of prospectus liability insurance which provides Company and cover such matters as the rights of shareholders, the cover for liabilities incurred by Directors in the performance of their appointment or removal of Directors, and the conduct of the Board OR duties or powers in connection with the issue of the following and general meetings. Copies are available from the Company M A documents (as applicable): Secretary. In accordance with the Articles, Directors can be appointed T I or removed by the Board or by shareholders in a general meeting. ON – The Company’s prospectus dated 20 September 2018 in relation to Amendments to the Articles must be approved by at least 75% of the Company’s listing on the premium listing segment of the those voting in person or by proxy at a general meeting of the Financial Conduct Authority’s OfÏcial List and admission to trading Company. Subject to UK company law and the Articles, the Directors on the Main Market for listed securities of the London Stock may exercise all the powers of the Company, may delegate authorities Exchange. to Committees, and may delegate day-to-day management and – The Company’s combined prospectus and circular dated 27 decision-making to individual Executive Directors. Details of the February 2020 (together with the two supplementary Board Committees can be found on page 84. prospectuses) in relation to the placing of ordinary shares and the rights issue. The rules governing the appointment and removal of a Director are – The Company’s prospectus dated 5 September 2022 in relation to set out in the Company’s Articles of Association. Specific details the placing of ordinary shares and the rights issue. relating to the significant shareholder groups and their right to appoint Directors are set out on page 126. No amount was paid under any of these indemnities or insurances during the year other than the applicable insurance premiums. CORPORATE GOVERNANCE STATEMENT Under the Disclosure and Transparency Rules, a requirement exists for In accordance with Section 236 of the Companies Act 2006, qualifying a Corporate Governance Statement to be included in this Directors’ third-party indemnity provisions are in place for the Directors in Report. The corporate governance statement, explaining how the respect of liabilities incurred as a result of their ofÏce, to the extent Group complies with the Governance Code, is set out on page 82. A permitted by law. Both the insurance and indemnities applied description of the composition and operation of the Board and its throughout the year ended 31 December 2023 and up to the date of Committees is set out on pages 84-122. Other than the areas of non- this Report. compliance identified on page 82, the Company has complied ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 124

S S TR throughout the accounting period with the 2018 UK Corporate set out in the Prospectus dated 5 September 2022 and the TR A Governance Code. announcement by the Company on 28 September 2022 which can be A TE found on the Company’s website. A total of 29,969,919 warrants TE G G I I C GOING CONCERN were exercised during 2023, converting into a total of 8,990,975 C R After due enquiry, the Directors have a reasonable expectation that ordinary shares. R E E P the Group has adequate resources to continue in operational existence P O O R for the foreseeable future and to comply with its financial covenants. On 31 December 2023 the Employee Benefit Trust held a total of R T For these reasons, they continue to adopt the going concern basis in 372,862 ordinary shares (5,872 unallocated shares and 366,990 shares T preparing the Financial Statements. Further details of the going allocated from prior share awards, held as Nominee Shares). The right G concern statement for the Group are set out in note 1 to the Financial to receive any dividend has been waived by the Trustee of the G O Statements and the Viability Statement is set out on page 70. O VE Employee Benefit Trust over the entire unallocated shares and we note VE R that any dividend due to be paid over allocated shares would be paid R NAN DIVIDEND AND RESULTS directly to the Company (as the Trustee Paying Agent) for onward NAN Revenue from the continuing business during the period amounted to distribution to the respective individuals. The Trustee has the right to C C E £1.6bn (2022: £1.4bn). A review of the Group’s consolidated results is exercise any voting rights in respect of the unallocated shares it holds E set out from page 142. and will vote in accordance with the voting instructions received from the beneficial owners of the allocated shares. F F I It is the Directors’ intention to retain the Group’s cash flow to finance I NAN growth and to focus on delivery of its new business plan. The Directors SUBSTANTIAL SHAREHOLDINGS NAN C intend to review, on an ongoing basis, the Company’s dividend policy The Company has received notifications of major interests in its issued C IAL and will consider the payment of dividends as the Group’s strategy ordinary share capital in accordance with Rule 5 of the DTRs. Details of IAL S S matures, depending upon the Group’s Free Cash Flow, financial the position as at the end of the financial year are as follows: T T A condition, future prospects and any other factors deemed by the A T T E Directors to be relevant at the time. The Directors are not Number of % of total E M Shareholder ordinary shares voting rights M E recommending any dividend for the 2023 financial year. 1 E N Lawrence Stroll 208,581,263 25.32 N T T S SHARE CAPITAL The Public Investment Fund 140,504,260 17.06 S Li Shufu (Geely) 132,530,859 16.09 Details of the issued share capital, together with details of movements Ernesto Bertarelli 112,559,889 13.67 F F U in the issued share capital of the Company during the year, are shown Yew Tree Overseas Ltd 80,458,305 9.77 U R R T in note 27 to the Financial Statements. This is incorporated by Mercedes-Benz AG 73,320,195 8.90 T H H E reference and deemed to be part of this Report. Invesco Limited 29,832,865 3.62 E R R INF Lucid Group Inc 28,352,273 3.44 INF At 31 December 2023, the Company had one class of ordinary shares OR which carries no right to fixed income. Each share carries the right to 1 Includes 80,458,305 shares also disclosed by Yew Tree Overseas Ltd and OR M one vote at general meetings of the Company. The ordinary shares are 112,559,889 shares also disclosed by Ernesto Bertarelli. M A A T listed on the premium listing segment of the Financial Conduct T I I ON There have been no changes notified to the Company in accordance ON Authority’s OfÏcial List and traded on the Main Market for listed securities of the London Stock Exchange. with Rule 5 of the DTRs to the holdings disclosed above. As at 31 December 2023, the Company had 823,663,785 ordinary RESTRICTIONS ON TRANSFER OF ORDINARY SHARES shares of £0.10 in issue. The Company does not hold any shares in The Articles do not contain any restrictions on the transfer of ordinary shares in the Company other than the usual restrictions applicable where treasury. Specific powers relating to the allotment and issuance of ordinary shares and the ability of the Company to purchase its own any amount is unpaid on a share. All issued share capital of the Company securities are included within the Articles and such authorities must be at the date of this Annual Report is fully paid. Certain restrictions are also submitted for approval by the shareholders, at the AGM each year imposed by laws and regulations (such as insider trading and marketing requirements relating to closed periods) and requirements of the Market (and were submitted and approved at the 2023 AGM). Abuse Regulation whereby Directors and certain employees of the Following shareholder approval at the general meeting on Company require prior approval to deal in the Company’s securities. 4 December 2020 and pursuant to the Warrant Instrument dated 7 December 2020, as amended on 28 September 2022 (Warrant SHAREHOLDERS’ RIGHTS Holders of ordinary shares have the rights accorded to them under UK Instrument), the Company issued 126,647,852 warrants granting rights to subscribe for up to 37,994,356 ordinary shares of £0.10. Each company law, including the rights to receive the Company’s Annual warrant entitles a warrantholder to subscribe for 0.3 warrant shares at Report and Accounts, attend and speak at general meetings, appoint the subscription price of £1.67 per warrant share. Warrants are proxies and exercise voting rights. No shareholder holds ordinary exercisable during the period starting on 1 July 2021 and ending on shares carrying special rights relating to the control of the Company 7 December 2027. The Warrant Instrument sets out the rights of and, other than as previously publicly disclosed in relation to the Yew warrantholders, including the right to receive shareholder documents Tree Consortium, the voting rights of which are exercised in accordance with instructions of Lawrence Stroll, the Directors are not aware of any and notifications and the right to requisition the Company to convene a meeting of warrantholders. Further information on the warrants is agreements between holders of the Company’s shares that may result in restrictions on voting rights. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 125

GOVERNANCE DIRECTORS’ REPORT CONTINUED S % of voting rights The purpose of these Relationship Agreements is to ensure that the TR to nominate A Company can carry on its business independently and for the benefit one director as of shareholders as a whole. The Relationship Agreements also provide TE a member of G the Nomination I that the Company will not take any action in relation to certain C Committee and R an observer to significant matters without the prior approval of at least two-thirds of % of voting % of voting the Remuneration E the members of the Board present and entitled to vote. The P Significant rights to nominate rights to nominate and Audit and Risk O shareholder group two directors one director Committees Relationship Agreements will terminate upon the relevant significant R Yew Tree 10% or above Between 7% 7% shareholder group ceasing to have the entitlement to exercise a T Consortium and 10% minimum percentage of the voting rights in the Company or the Public 10% or above Between 7% 7% G Company’s shares ceasing to be admitted to the OfÏcial List of the Investment and 10% Financial Conduct Authority and traded on the Main Market for listed O Fund securities of the London Stock Exchange. VE Mercedes- 15% or above Between 7.5% 7.5% R Benz AG and 15% NAN Each of the Relationship Agreements provides that each significant Geely - 7% 7% C shareholder group is entitled to nominate director(s) to the Board and E the Nomination Committee and an observer to the Remuneration and TRANSACTIONS WITH RELATED PARTIES Audit and Risk Committees, subject to the size of its respective interest Details of Related Party Transactions which have been undertaken in F in the voting rights of the Company as set out in the table above. I the year ended 31 December 2023 are included within note 31 to the NAN Financial Statements. On 26 June 2023, the Company announced it had entered into an C amendment and restatement of its Strategic Co-operation Agreement IAL SIGNIFICANT CONTRACTS with MBAG which was originally entered into on 27 October 2020. S At 31 December 2023, the Group had a Revolving Credit Facility of T Under the amended agreement, the Company and MBAG will continue A T £99.4m which contains a change of control clause. The Group also had long-term strategic co-operation, supporting the delivery of current E M US$1,143.7m of 10.50% Senior Secured Notes due 2025, and and future generation Aston Martin vehicles. Under the original E N US$121.7m Second Lien Split Coupon Notes which contain change of agreement the Company would issue additional Aston Martin shares T S control provisions. In aggregate, these financing arrangements are to MBAG in exchange for access to further technology replaced and considered significant to the Group and, in the event of a takeover (i.e. this has now been replaced with a restated commitment to the existing a change of control) of the Company, the amounts outstanding under F strategic collaboration allowing the parties to discuss future access U the Revolving Credit Facility may be cancelled or become immediately R to technology for cash. No further consideration shares, or related T payable and the holders of the Senior Secured Notes and Second Lien H cash top up payments, will be issued or paid to MBAG under the E Notes may require the Group to repurchase their notes. R restated agreement. INF All the Company’s share plans contain provisions relating to a change In addition to the terms agreed in the Strategic Cooperation OR of control. In the event of a change of control or winding up of the Agreement, the Group has a long-standing technical partnership with M A Company (other than an internal reorganisation), LTIP awards will vest MBAG for the provision of engines, electrical architecture and T I subject to the extent to which the performance conditions have been entertainment systems. This partnership began in 2013, when MBAG ON satisfied. Pro rating for service will apply unless the Remuneration Committee decides otherwise. Outstanding deferred bonus awards became one of Aston Martin Holdings (UK) Limited’s shareholders. will vest in full as soon as practicable. In the event of an internal The agreements governing our relationship with MBAG provide that corporate reorganisation, deferred bonus and LTIP awards may (with under certain circumstances MBAG may be entitled to terminate consent from any acquiring company) be replaced by equivalent operational agreements on three or four years’ prior notice (depending awards. Alternatively, the Remuneration Committee may decide that deferred bonus and LTIP awards will vest as in the case of a change of on the operational agreement) if a strategic MBAG competitor control described above. In the event of a demerger, special dividend acquires a sufÏcient interest in AML, acquires certain board appointment rights, or enters into certain strategic arrangements with or other corporate event that will materially impact the share price the AML without MBAG’s consent. Committee may, at its discretion, allow deferred bonus and LTIP awards to vest on the same basis as for a change of control as described In early 2020, the Group entered into a sponsorship agreement, as above. Alternatively, an adjustment may be made to the number of amended in 2022, for a ten-year initial term under which the Racing shares if considered appropriate. Point Formula One® team was re-launched as the Aston Martin Cognizant Formula One® team with effect from the 2021 season, The Company currently has four groups of significant shareholders, bringing an Aston Martin team back to the Formula One® grid for namely the Yew Tree Consortium, The Public Investment Fund, Geely the first time since 1960. The agreement included a sponsorship and Mercedes-Benz AG (‘MBAG’). The relationship between the arrangement effective from 2021 to 2025 with expenses Company and each of these significant shareholder groups is governed commensurate with the Group’s previous annual Formula One® by four separate relationship agreements (“Relationship expenditure. In March 2023, the parties agreed to sponsorship fees for Agreements”). the period from 2026 to 2030. From 2030, the sponsorship arrangements will be renewable at the Board’s discretion for additional ten year periods up to the end of 2060. The Group anticipates that this ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 126

S S TR agreement will strengthen its brand presence without being employment practices, are intended to ensure that individuals are TR A associated with the direct costs of owning an Formula One® team. treated equitably and consistently regardless of age, race, creed, A TE Under the agreement, the Group has enhanced its presence by colour, gender, marital or parental status, sexual orientation, religious TE G G I I C providing the chassis and the team name Aston Martin. beliefs and nationality. C R R E E P On 29 July 2022, the Company entered into a placing agreement with Applications for employment by persons with disabilities are always P O O R The Public Investment Fund (Placing Agreement). The Company fully considered, bearing in mind the respective aptitudes and abilities R T provided certain customary representations, warranties and of the applicant concerned. In the event of employees becoming T undertakings in favour of The Public Investment Fund pursuant to the disabled, every effort is made to ensure their employment with the G Placing Agreement, including an undertaking that, between the date Group is continued and that the appropriate training is arranged. It is G O of the Placing Agreement and 180 calendar days after the settlement the policy of the Group that the training, career development and O VE VE R date of the 2022 capital raise (being 29 March 2023), inclusive, it would promotion of a persons with disabilities should, as far as possible, be R NAN not without the prior written consent of The Public Investment Fund, identical to that of a person who does not have a disability. NAN enter into certain transactions involving or relating to ordinary shares, C C E subject to certain carve-outs and waivers, including the issue of any HEALTH AND WELLBEING E ordinary shares or options or the grant of any right to acquire ordinary The health and wellbeing of employees is central to operating an shares pursuant to any employees’ share schemes that existed at the effective and successful business. The Group also relies on the health F F I date of the Placing Agreement, which were disclosed in the Prospectus and stability of the communities in which it operates. The Group I NAN dated 5 September 2022. recognises its responsibility and the opportunity to make a positive NAN C contribution and is actively engaged with local areas to foster a sense C IAL On 26 June 2023 the Company announced its intention to enter into a of partnership with the Group. The Group continues to educate IAL S supply arrangement with Lucid to access Lucid’s powertrain S employees on its approach to, and specific requirements of, human T T A components to promote the Company’s electrification strategy rights in business operations. In 2023, no human rights violations A T T E and long term growth. The arrangement was subject to shareholder within the Group were reported, nor were any relevant reports E M M E approval and regulatory clearance and became unconditional received regarding the supply network. The health and safety of its E N N T in November 2023. For further information on the transaction see workforce, visitors and the local community is of paramount T S page 194. importance. The Group aims to be a centre of excellence and for the S Aston Martin Health and Safety Management System to be aligned F F U TAX STRATEGY with best practice within the automotive industry. U R R T The Group is committed to complying with its statutory obligations in T H H E relation to the payment of tax including full disclosure of all relevant POLITICAL DONATIONS E R R INF facts to the appropriate tax authorities. In managing its tax affairs, the It is the Company’s policy not to make political donations and no such INF Group recognises its responsibilities as a taxpayer and the need to political donations were made during the period. In line with 2023 and OR protect the corporate reputation inherent in the brand. The Board has reflecting the practice of many other London-listed companies, the OR M ultimate responsibility for the Group’s tax strategy although the day- Board will be seeking shareholder approval for political donations M A A T to-day management rests with the Executive Committee, which at the forthcoming AGM. This is a precautionary measure, for the T I I ON comprises the senior operational personnel of the Group. The Chief Company and its subsidiaries to be able to make donations and/or ON Financial OfÏcer is the Executive Committee member with ultimate incur expenditure which may be construed as “political” by the wide responsibility for tax matters and is the Senior Accounting OfÏcer of definition of that term included in the relevant legislation. Further the Group. details will be provided in the Notice of this year’s AGM. The Chief Financial OfÏcer advises the Board on the tax affairs and risks RESEARCH AND DEVELOPMENT of the Group to ensure: The Group spent £299m (2022: £246m) on research and development during the year. See note 4 to the Financial Statements. – the proper control and management of tax risk; – the tax position is planned in line with the Group’s strategic STRATEGIC REPORT objectives; Aston Martin Lagonda Global Holdings plc is required by the – the tax charge is correctly stated in the statutory accounts and tax Companies Act 2006 to prepare a Strategic Report that includes a fair returns; and review of the Company’s business, the development and performance – all tax compliance is completed in a timely manner to HMRC and of the Company’s business during the period, the position of the other tax authorities. Company at the end of the year ended 31 December 2023, and a description of the principal risks and uncertainties faced by the Further information on the Group’s tax strategy is available on the Company. The Strategic Report on pages 4 to 71 is incorporated by Company’s website. reference and shall be deemed to form part of this Directors’ Report. EQUAL OPPORTUNITIES AND EMPLOYMENT OF PERSONS DISCLOSURE OF INFORMATION TO THE COMPANY’S WITH DISABILITIES AUDITOR The Group has policies on equal opportunities and the employment of Each person who is a Director at the date of approval of this Report persons with disabilities which, through the application of fair and of the Financial Statements confirms that: ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 127

GOVERNANCE DIRECTORS’ REPORT CONTINUED S (i) so far as such Director is aware, there is no relevant audit TR information of which the Company’s Auditor is unaware; and A TE G I (ii) such Director has taken all the steps that they ought to have taken C as a Director, in order to make themselves aware of any relevant R E audit information and to establish that the Company’s Auditor is P O aware of that information. R T This confirmation is given and should be interpreted in accordance with the provisions of Section 418 of the Companies Act 2006. G O DISCLAIMER VE R As set out in more detail on the inside back cover of this agreement, NAN the purpose of this Annual Report is to provide information to the C members of the Company and it has been prepared for and only for, E the members of the Company as a body, and no other persons. The Company, its Directors and ofÏcers, employees and advisors do not F accept or assume responsibility to any other person to whom this I document is shown or into whose hands it may come and any such NAN responsibility or liability is expressly disclaimed. C IAL A cautionary statement in respect of forward-looking statements S T contained in this Annual Report appears on the inside back cover of A T this document. E M E N The Strategic Report (from pages 4 to 71) and the Directors’ Report T S (as described above) have been approved by the Board on 27 February 2024. F U R By order of the Board T H E R LIZ MILES INF COMPANY SECRETARY OR Aston Martin Lagonda Holdings Plc M A Registered OfÏce: Banbury Road, Gaydon, Warwick, CV35 0DB T I ON Registered in England and Wales. Registered Number: 11488166. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 128

STATEMENT OF DIRECTORS’ RESPONSIBILITIES S S TR STATEMENT OF DIRECTORS’ RESPONSIBILITIES The Directors are responsible for keeping adequate accounting TR A The Directors are responsible for preparing the Annual Report which records that are sufÏcient to show and explain the parent Company’s A TE includes the Strategic Report, the Directors’ Report, the Directors’ and Group’s transactions and disclose with reasonable accuracy at any TE G G I I C Remuneration Report and the Group and parent Company Financial time the financial position of the parent Company and the Group and C R Statements in accordance with applicable law and regulations. enable them to ensure that the parent Company and Group Financial R E E P Statements comply with the Companies Act 2006. They are also P O O R Company law requires the Directors to prepare Group and parent responsible for safeguarding the assets of the Group and parent R T T Company Financial Statements for each financial year. Under that law Company and for taking reasonable steps for the prevention and the Directors have elected to prepare the Group Financial Statements detection of fraud and other irregularities. Under applicable law and G in accordance with UK-adopted international accounting standards regulations, the Directors are also responsible for preparing a G O O VE (IFRSs) and have elected to prepare the parent Company Financial Strategic Report, Directors’ Report, Directors’ Remuneration Report VE R Statements in accordance with United Kingdom Generally Accepted and Corporate Governance Statement that comply with that law and R NAN Accounting Practice (United Kingdom Accounting Standards and those regulations. The Directors are responsible for the maintenance NAN applicable law), including Financial Reporting Standard 101 ‘Reduced and integrity of the corporate and financial information included C C E Disclosure Framework’ (FRS 101). Under company law the Directors on the Company’s website. E must not approve the Financial Statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group STATEMENT OF DIRECTORS’ RESPONSIBILITIES UNDER F F I and parent Company and of their profit or loss for that period. THE DISCLOSURE AND TRANSPARENCY RULES I NAN Each of the Directors at the date of this Report whose names and NAN C In preparing each of the Group and parent Company Financial functions are listed on pages 76-79, confirm to the best of their C IAL Statements, the Directors are required to: knowledge: IAL S S T T A – select suitable accounting policies in accordance with International – that the consolidated Financial Statements, prepared in A T T E Accounting Standard 8 ‘Accounting Policies, Changes in accordance with UK-adopted international accounting standards, E M M E Accounting Estimates and Errors’ and then apply them give a true and fair view of the assets, liabilities, financial position E N N T consistently; and profit or loss of the Company and the undertakings included in T S – make judgements and estimates that are reasonable and prudent; S the consolidation taken as a whole; – present information, including accounting policies, in a manner – that the Annual Report and Accounts, including the Strategic F F U that provides relevant, reliable, comparable and understandable Report, includes a fair review of the development and performance U R R T information; of the business and the position of the Company and undertakings T H H E – provide additional disclosures when compliance with the specific included in the consolidation taken as a whole, together with a E R R INF requirements in IFRSs and, in respect of the parent Company description of the principal risks and uncertainties that they face; INF Financial Statements, FRS 101 is insufÏcient to enable users to and OR understand the impact of particular transactions, other events and – that they consider the Annual Report and Accounts, taken as a OR M conditions on the Group and Company financial position and whole, is fair, balanced and understandable and provides the M A A T financial performance; information necessary for shareholders to assess the Group’s T I I ON – for the Group Financial Statements, state whether UK-adopted position and performance, business model and strategy. ON international accounting standards have been followed, subject to any material departures disclosed and explained in the Financial These statements were approved by the Board on 27 February 2024 Statements; and signed on its behalf by: – for the parent Company Financial Statements, state whether applicable UK accounting standards, including FRS 101, have been AMEDEO FELISA followed, subject to any material departures disclosed and CHIEF EXECUTIVE OFFICER explained in the parent Company Financial Statements; and – prepare the Financial Statements on the going concern basis unless DOUG LAFFERTY it is inappropriate to presume that the Company and/or the Group CHIEF FINANCIAL OFFICER OFFICE will continue in business. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 129

FINANCIAL STATEMENTS S TR A TE G I C R E P O R T G O VE R NAN C E F I NAN C IAL S T A T E M E N T S F U R T H E R INF OR M A T I 03ON ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 130

S S TR TR A A TE TE G FINANCIAL G I I C C R R E E P P O O R R T STATEMENTS T G 132 Independent Auditor’s Report G O 142 Consolidated Financial Statements O VE 147 Notes to the Financial Statements VE R R NAN 200 Company Statement of Financial Position NAN 202 Notes to the Company Financial Statements C C E E F F I I NAN NAN C C IAL IAL S S T T A A T T E E M M E E N N T T S S F F U U R R T T H H E E R R INF INF OR OR M M A A T T I I ON ON 21 0 One with Formula One® 2 We make our return to Formula One® as a full works team and take our rightful place in the pit lane. At the peak of the pinnacle of the epitome of sport ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 131

FINANCIAL STATEMENTS INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF ASTON MARTIN LAGONDA GLOBAL HOLDINGS PLC S OPINION TR A In our opinion: TE G – Aston Martin Lagonda Global Holdings plc’s group financial statements and parent company financial statements (the “financial statements”) give a I C true and fair view of the state of the group’s and of the parent company’s affairs as at 31 December 2023 and of the group’s loss for the year then R ended; E P – the group financial statements have been properly prepared in accordance with UK adopted international accounting standards; O R – the parent company financial statements have been properly prepared in accordance with United Kingdom Generally Accepted Accounting T Practice; and – the financial statements have been prepared in accordance with the requirements of the Companies Act 2006. G O VE We have audited the financial statements of Aston Martin Lagonda Global Holdings plc (the ‘parent company’) and its subsidiaries (the ‘group’) for the year R ended 31 December 2023 which comprise: NAN C Group Parent company E Consolidated statement of financial position Parent company statement of financial position as at 31 December 2023 as at 31 December 2023 F I Consolidated statement of comprehensive income Parent company statement of changes in equity NAN for the year then ended for the year then ended C IAL Consolidated statement of changes in equity Related notes 1 to 6 to the financial statements S for the year then ended including material accounting policy information. T A Consolidated statement of cash flows for the year then ended T E M Related notes 1 to 34 to the financial statements, E N including material accounting policy information T S The financial reporting framework that has been applied in the preparation of the group financial statements is applicable law and UK adopted international F accounting standards. The financial reporting framework that has been applied in the preparation of the parent company financial statements is applicable U R law and United Kingdom Accounting Standards, including FRS 101 “Reduced Disclosure Framework” (United Kingdom Generally Accepted Accounting T H Practice). E R INF BASIS FOR OPINION OR We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those M standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We believe that the audit A T I evidence we have obtained is sufÏcient and appropriate to provide a basis for our opinion. ON INDEPENDENCE We are independent of the group and parent in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard as applied to listed public interest entities, and we have fulfilled our other ethical responsibilities in accordance with these requirements. The non-audit services prohibited by the FRC’s Ethical Standard were not provided to the group or the parent company and we remain independent of the group and the parent company in conducting the audit. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 132

S S TR CONCLUSIONS RELATING TO GOING CONCERN TR A In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial A TE statements is appropriate. Our evaluation of the directors’ assessment of the group and parent company’s ability to continue to adopt the going concern basis TE G G I I C of accounting included the following procedures: C R R E E P – Understanding and walking through management’s process for and controls related to assessing going concern including discussion with management P O O R to ensure all key factors were taken into account; R T – Obtaining management’s going concern assessment, which covers the period to 30 June 2025, and which includes cashflow and liquidity forecasts, T details of facilities available, forecast covenant calculations and the results of management’s downside scenarios, and testing the integrity of the model, G including clerical accuracy; G O – Confirming to the debt agreements both the maturity profile of the debt and the covenants that are required to be met within the going concern period; O VE – Confirming the Group forecasts demonstrate sufÏcient financial resources to repay the current RCF when it matures in August 2025 such that the going VE R R NAN concern period does not need to be extended; NAN – Assessing the reasonableness of forecasts underpinning the going concern model which are based on the Board-approved budget and the Board- C C E approved strategic plan. To do this we specifically considered forecast wholesale volumes compared to historical volumes, current confirmed orders and E competitor volumes, sales margins and capital expenditure plans; – Ensuring that these forecasts appropriately reflect the assessed impact of the current macroeconomic circumstances and the disclosed climate change F F I commitments of the group; I NAN – Analysing the historical accuracy of forecasting by comparing management’s forecasts to actual results, both for 2020, 2021, 2022 and 2023 as well as NAN C through the subsequent events period and performing inquiries to the date of this report to determine whether forecast cash flows are reliable based on C IAL IAL past experience; S – Considering external factors that could impact liquidity/forecasts including reliance on suppliers, recoverability of debtors, the current macroeconomic S T T A climate, and the threat of potential litigations and claims; A T T E – Considering the downside scenario identified by management in their assessment on pages 147-148, assessing whether there are any other scenarios E M M E which should be considered, and assessing whether the quantum of the impact of the downside scenario modelled in the going concern period is E N N T realistic; T S – Performing reverse stress testing on the going concern model by independently determining what reduction in wholesale volumes would be required S before liquidity would be exhausted. This included comparing this scenario to the downside scenario contemplated by management and considering the F F U likelihood of the events required to exhaust available liquidity; U R R T – Evaluating the Group’s ability to undertake mitigating actions should it experience a severe downside scenario, considering likely achievability of both T H H E timing and quantum particularly with respect to constraining capital spending if required; and E R R INF – Assessing the going concern disclosures in the financial statements to ensure they are in accordance with International Financial Reporting Standards. INF OR We observed that while the group achieved lower than forecast total core wholesale volumes than it was originally targeting in 2023, this was driven by OR M supplier readiness and integration of the new infotainment system impacting the timing of production and the related vehicle wholesale. The forecast core M A A T wholesale volumes for the going concern assessment period are reasonable compared to historic performance and the those reported by comparable T I I ON brands in the luxury automotive sector. We observed in previous periods the control exercised over capital expenditure in comparison to amounts forecast ON which corroborates management’s assertion that in the event of the modelled downside occurring capital expenditure could be deferred. Further, the Group has the borrowings disclosed in note 23 which includes details of the maturities of those facilities. We observed that the group forecasts demonstrate sufÏcient financial resources to repay the current RCF when it matures in August 2025 such that the going concern period does not need to be extended. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent company’s ability to continue as a going concern for a period to 30 June 2025. In relation to the group and parent company’s reporting on how they have applied the UK Corporate Governance Code, we have nothing material to add or draw attention to in relation to the directors’ statement in the financial statements about whether the directors considered it appropriate to adopt the going concern basis of accounting. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. However, because not all future events or conditions can be predicted, this statement is not a guarantee as to the group’s ability to continue as a going concern. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 133

FINANCIAL STATEMENTS INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF ASTON MARTIN LAGONDA GLOBAL HOLDINGS PLC CONTINUED S OVERVIEW OF OUR AUDIT APPROACH TR A Audit scope – We performed an audit of the complete financial information of four components and audit procedures on specific balances for a further TE three components. G I – The components where we performed full or specific audit procedures accounted for 100% of Adjusted EBITDA, 100% of Revenue and C R 100% of Total assets. E P Key audit matters – Revenue recognition, specifically: O R – There is a risk that revenue is overstated due to errors in cut-off, including bill and hold arrangements; and T – There is also a risk of overstatement of revenue through inappropriate manual journal entries – Capitalisation and amortisation of development costs – Impairment of capitalised development costs G – Deferred tax asset valuation O – Parent Company Investment Impairment VE R Materiality – Overall Group materiality of £7.5m which represents 2.5% of Adjusted Earnings before interest, tax, depreciation and amortisation (‘EBITDA’). NAN C AN OVERVIEW OF THE SCOPE OF THE PARENT COMPANY AND GROUP AUDITS E Tailoring the scope Our assessment of audit risk, our evaluation of materiality and our allocation of performance materiality determine our audit scope for each company within F I NAN the Group. Taken together, this enables us to form an opinion on the consolidated financial statements. We take into account size, risk profile, the organisation of the group and effectiveness of group-wide controls, changes in the business environment, the potential impact of climate change and other factors such C as recent Internal audit results when assessing the level of work to be performed at each component. IAL S T In assessing the risk of material misstatement to the Group financial statements, and to ensure we had adequate quantitative coverage of significant accounts A T in the financial statements, of the 8 reporting components of the Group, we selected 7 components covering entities within the UK, Europe, USA, Japan and E M China, which represent the principal business units within the Group. E N T S Of the 7 components selected, we performed an audit of the complete financial information of four components (“full scope components”) which were selected based on their size or risk characteristics. For the remaining three components (“specific scope components”), we performed audit procedures on specific accounts within that component that we considered had the potential for the greatest impact on the significant accounts in the financial statements F U either because of the size of these accounts or their risk profile. R T H E R The reporting components where we performed audit procedures accounted for 100% (2022: 100%) of the Group’s Adjusted EBITDA, 100% (2022: 100%) of INF the Group’s Revenue and 100% (2022: 100%) of the Group’s Total assets. For the current year, the full scope components contributed 98% (2022: 98%) of the Group’s Adjusted EBITDA, 96% (2022: 97%) of the Group’s Revenue and 98% (2022: 98%) of the Group’s Total assets. The specific scope component OR contributed 2% (2022: 2%) of the Group’s Adjusted EBITDA, 4% (2022: 3%) of the Group’s Revenue and 2% (2022: 2%) of the Group’s Total assets. The audit M A scope of these components may not have included testing of all significant accounts of the component but will have contributed to the coverage of significant T I accounts tested for the Group. ON Of the remaining one components that together represent 0% of the Group’s Adjusted EBITDA, we performed other procedures, including analytical review to respond to any potential risks of material misstatement to the Group financial statements. The charts below illustrate the coverage obtained from the work performed by our audit teams. ADJUSTED EBITDA REVENUE TOTAL ASSETS 98% Full scope components 96% Full scope components 98% Full scope components 2% Specific scope components 4% Specific scope components 2% Specific scope components ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 134

S S TR Involvement with component teams TR A In establishing our overall approach to the Group audit, we determined the type of work that needed to be undertaken at each of the components by us, as A TE TE G the primary audit engagement team, or by component auditors from other EY global network firms operating under our instruction. Of the four full scope G I I C components, audit procedures were performed on three of these directly by the primary audit team. For the three specific scope components, audit C R procedures were performed directly by the primary audit team. For the component not audited by the primary team, we determined the appropriate level of R E E P involvement to enable us to determine that sufÏcient audit evidence had been obtained as a basis for our opinion on the Group as a whole. P O O R R T The Group audit team continued to follow a programme of planned visits that has been designed to ensure that the Senior Statutory Auditor or his designate T visits full scope component audited by the EY global network firm each year. During the current year’s audit cycle, visits were undertaken by the primary audit G team to the component team in China and these visits continued to be conducted virtually in line with prior periods. These sessions involved meeting with our G O O VE local component team to discuss and direct their audit approach, understanding the significant audit findings in response to the key audit matters and VE R reviewing key audit working papers. The primary team interacted regularly with the component team where appropriate during various stages of the audit, R NAN reviewed relevant working papers and were responsible for the scope and direction of the audit process. This, together with the additional procedures NAN performed at Group level, gave us appropriate evidence for our opinion on the Group financial statements. C C E CLIMATE CHANGE E Stakeholders are increasingly interested in how climate change will impact Aston Martin Lagonda Global Holdings plc. The Group has determined that the F F I most significant future impacts from climate change on its operations will be from the transition to EV (‘Electric vehicle’) powertrains, managing the financial I NAN impact of increasing carbon related costs in response to changes in legislation and managing the brand/reputational impact of continuing to sell ICE (‘Internal NAN C combustion engine’) powered vehicles in the short to medium term. These are explained on pages 58-63 in the required Task Force On Climate Related C IAL Financial Disclosures and on pages 64-69 in the principal risks and uncertainties. They have also explained their climate commitments on pages 44-49. All of IAL S S these disclosures form part of the “Other information,” rather than the audited financial statements. Our procedures on these unaudited disclosures therefore T T A consisted solely of considering whether they are materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or A T T E otherwise appear to be materially misstated, in line with our responsibilities on “Other information”. E M M E E N N T In planning and performing our audit we assessed the potential impacts of climate change on the Group’s business and any consequential material impact on T S S its financial statements. F F U The Group has explained in Note 1 how they have reflected the impact of climate change in their financial statements including how this aligns with their U R R T commitment to the aspirations of the Paris Agreement to achieve net zero emissions by 2050. Significant judgements or estimates relating to climate change T H H E have been factored into the Directors impairment assessments of the carrying value of capitalised development cost intangible assets, parent company E R R INF investment impairment assessment and recoverability of deferred tax assets in the notes to the financial statements. These considerations did not have a INF material impact on the financial reporting judgements and estimates, consistent with the assessment that climate change is not expected to have a significant OR impact on the Group’s going concern assessment to 30 June 2025 nor the viability of the Group over the next five years. OR M M A A T Our audit effort, in considering the impact of climate change on the financial statements, was focused on evaluating management’s assessment of the impact T I I ON ON of climate risk, both physical and transition, managements climate commitments and the effects of material climate risks disclosed on pages 61-62. We focused on whether these have been appropriately reflected in asset values where these are impacted by future cash flows, being the impairment testing of capitalised development costs, impairment of parent company investments and deferred tax asset recoverability and associated sensitivity disclosures (see notes 9 and 13 in the group financial statements and note 3 in the parent company financial statements) following the requirements of UK adopted international accounting standards for the group and United Kingdom Accounting Standards, including FRS 101 “Reduced Disclosure Framework” (United Kingdom Generally Accepted Accounting Practice) for the parent company. As part of this evaluation, we performed our own risk assessment, supported by our climate change internal specialists, to determine the risks of material misstatement in the financial statements from climate change which needed to be considered in our audit. We also challenged the Directors’ considerations of climate change risks in their assessment of going concern and viability and associated disclosures. Where considerations of climate change were relevant to our assessment of going concern, these are described above. Based on our work we have considered the impact of climate change on the financial statements to impact certain key audit matters. Details of our procedures and findings are included in our explanation of key audit matters below. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 135

FINANCIAL STATEMENTS INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF ASTON MARTIN LAGONDA GLOBAL HOLDINGS PLC CONTINUED S KEY AUDIT MATTERS TR Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements of the current period A TE and include the most significant assessed risks of material misstatement (whether or not due to fraud) that we identified. These matters included those which G I had the greatest effect on: the overall audit strategy, the allocation of resources in the audit; and directing the efforts of the engagement team. These matters C R were addressed in the context of our audit of the financial statements as a whole, and in our opinion thereon, and we do not provide a separate opinion on E these matters. P O R Key observations communicated T Risk Our response to the risk to the Audit Committee Revenue Recognition – We confirmed the existence and the design effectiveness of controls Our audit procedures did not (2023: £1,632.8m; 2022: £1,381.5m) within the sales process, paying particular attention to those around identify evidence of material G O Refer to the Audit Committee Report (pages cut-off and bill and hold transactions. misstatements in revenue VE 98-101); Accounting policies (pages 148 to – For a sample of sales transactions, we considered the terms per the recognition arising from the R 149); and Note 3 of the Consolidated Financial contracts and deliveries to ensure revenue has been recognised in risk of cut-off, bill and hold or NAN Statements (page 157) accordance with IFRS 15 and is recorded in the correct period. management override through – For a sample of bill and hold sales we have confirmed the vehicle was journal entries. C There is a risk that revenue is overstated due completed before year end by obtaining the signed quality check E to errors in cut-off, including bill and hold documentation. For that sample we also confirmed the transfer of arrangements whereby revenue is recognised control had occurred by confirming the transaction directly with the F I on a completed vehicle before delivery is third-party dealer and by obtaining the customer requests to hold the NAN made to the customer based on the customer’s vehicles on their behalf. C request. – We performed physical verification on the finished vehicles and agreed IAL In the current year the business and industry these to either the inventory or the bill and hold listings. We ensured for S a sample of vehicles the manufacturing process was complete and that has experienced supply chain challenges and as T the vehicle was not double counted in revenue and inventory. A a result there is an increased risk that revenue T – We performed cut-off testing by tracing a sample of transactions E is recognised ahead of the vehicle build being M around the period end to third party delivery note documentation. E complete. N – We performed data analytical procedures of the double entries in the T There is also a risk of overstatement of revenue general ledger to test the postings from Revenue to Cash, correlating S through inappropriate manual journal entries. the cash conversion of sales. We investigated and obtained evidence for any unusual items identified. F – We performed journal testing procedures to identify unusual journal U R entry postings. We obtained audit evidence for unusual and/or material T H revenue journals. E R – We performed audit procedures over this risk area in the full and INF specific scope locations. Capitalisation and amortisation – We confirmed the existence and the design effectiveness of controls Our audit procedures did not OR M of development costs (Net book value around the intangibles process and in particular around the approval of identify evidence of material A T of capitalised development costs: £848.4m, capitalised development expenditure. misstatement in the amounts of I ON 2022: £843.9m) – For a sample of costs capitalised we confirmed that the costs incurred development costs capitalised in were; capitalised against the correct project; measured correctly; the year or through inappropriate (Amounts capitalised in the year: £268.5m, eligible for capitalisation, and the timing of the expense capitalisation manual journal entries. 2022: £232.0m) (Amortisation charge: was appropriate. £264.0m, 2022: £221.4m) – For a sample of projects we compared the actual spend against the Our audit procedures did not Refer to Accounting policies (page 150); budgeted spend to ensure the projects continue to meet the IAS 38 identify evidence of material and Note 12 of the Consolidated Financial criteria for capitalisation and remain commercially viable. misstatement of the amortisation Statements (page 165) – For capitalised development costs we confirmed the amortisation charge for development costs recorded in the period. There is a risk that costs are capitalised which period was aligned to the period over which commercial benefits are do not meet the criteria set out within IAS 38 or expected to be received and is consistent with the Group’s business that the amortisation period is inappropriate. plan. – We considered the appropriateness of the amount/percentage of costs There is also a risk of overstatement of which are transferred between models as a result of the carry over capitalised development costs through carry across principle (‘COCA’). inappropriate manual journal entries. – We recalculated the amortisation recognised to confirm this was in line with expectations. – We performed journal testing procedures to identify unusual journal entry postings. We obtained audit evidence for any unusual journals related to capitalised development costs. – We performed full scope audit procedures over this risk area in one location, which covered 100% of the risk amount. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 136

S S TR Impairment of capitalised development costs – We confirmed the existence and the design effectiveness of controls Our year end audit procedures TR A A TE (Net book value of capitalised development around management’s impairment assessment for capitalised did not identify evidence of TE G costs: £848.4m, 2022: £843.9m) development costs. material misstatement regarding G I I C (Impairment charge: £nil, 2022 £nil) – We have examined management’s methodology and impairment the carrying value of capitalised C R models for assessing the recoverability of the capitalised development development costs. R E Refer to the Audit Committee Report (pages E P costs to understand the composition of management’s future cash P O 98-101); Accounting policies (pages 151-152); O R flow forecasts, and the process undertaken to prepare them. This R T and Note 13 of the Consolidated Financial T Statements (page 166) includes confirming the underlying cash flows are consistent with the Board approved business plan and reflect appropriately the effects of There is a risk that the value of development material climate risks as disclosed on pages 61-62. G G O costs is not supported by the future forecast – We have re-performed the calculations in the model to test the O VE cashflows from the sale of vehicles to which the mathematical integrity. VE R costs relate. – We have assessed the discount rate used by obtaining the underlying R NAN data used in the calculation and benchmarking it against comparable NAN organisations and market data with the support of our valuation C C E specialists. E – We have analysed the historical accuracy of budgets to actual results to determine whether forecast cash flows are reliable based on past F experience. F I I NAN – We considered market data and the results of wider procedures in our NAN audit in contemplation of whether any contra evidence existed. C C IAL – We calculated the degree to which the key assumptions would need to IAL S fluctuate before an impairment arose and considered the likelihood of S T this occurring. T A A T – We have audited the disclosures in respect of impairment of capitalised T E E M development costs with reference to the requirements of IAS 36 and M E IAS 1 and confirmed their consistency with the audited impairment E N N T models. T S – We performed audit procedures over this risk area in one full scope S location, which covered 100% of the risk amount. F F U Deferred Tax Asset Valuation – We confirmed the existence and the design effectiveness of controls Our year end audit procedures did U R R T (Deferred Tax Asset: £156.3m, 2022: £133.7m) around management’s assessment of the deferred tax asset valuation. not identify evidence of material T H – We considered and challenged the convincing evidence that the group H E misstatement regarding the E R Refer to the Audit Committee Report (pages R INF 98-101); Accounting policies (page 154); will make future taxable profits against which to recognize carried valuation of deferred tax assets. INF and Note 9 of the Consolidated Financial forward losses. OR Statements (page 161-163) – We ensured the forecasts used are consistent with those used for OR M going concern, viability and impairment assessments. This included M A The extent of recognition of deferred tax confirming the underlying cash flows are consistent with the Board A T T I I ON assets is subject to significant estimation approved business plan and appropriately reflect the effects of ON and assumptions particularly in respect of material climate risks as disclosed on pages 61-62. deferred tax assets recognised in respect – We tested the adjustments made to forecast profit before tax to arrive of carried forward losses based on forecast at forecast taxable profits. future taxable profits. – For forecasts beyond the board approved budget, we considered how these forecasts had been prepared and challenged the forecast profitability. – We considered and challenged the level of Deferred Tax Asset recognised for both trade and non-trade losses including the timeframe in which these Deferred Tax Assets will be recovered and whether these forecast profits are considered probable. – We also considered and challenged the rational for the level of Deferred Tax Assets which remain unrecognised. – We performed and considered sensitivities on managements’ future forecasts, both upside and downside, to challenge whether the forecasts used are the best estimate for use in calculation of the deferred tax asset recognised. – We audited the disclosures relating to the Deferred Tax Asset to ensure they are compliant with the requirements of IAS 12. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 137

FINANCIAL STATEMENTS INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF ASTON MARTIN LAGONDA GLOBAL HOLDINGS PLC CONTINUED S Parent Company Investment impairment – We confirmed the existence and the design effectiveness of controls Our year end audit procedures TR A (Investment: £1,051.6m, 2022: £497.3m) around management’s impairment assessment for investment in did not identify evidence of TE (Impairment reversal: £460.1m, 2022 subsidiaries. material misstatement regarding G I Impairment charge: £460.1m) – We considered the indicators of investment reversal, being the new the reversal of the impairment in C medium term targets announced by management at the capital investment in subsidiaries. R Refer to the Audit Committee Report (pages E markets day as well as the increase in the Groups market capitalisation P 98-101); Accounting policies (page 203); The prior year adjustment related O in the year. R and Note 3 of the Parent Company Financial – We examined management’s methodology and model for assessing to the 2022 balance sheet is T Statements (page 205) the VIU for investment in subsidiaries. This included assessing the cash materially stated. There is a risk that the parent company flow forecasts relating to the repayment of intercompany payables to G investment impairment/impairment reversal the parent company. O is not supported by the subsidiaries future – We confirmed the underlying cash flows are consistent with the VE forecast cashflows. Board approved business plan and appropriately reflect the effects of R material climate risks as disclosed on pages 61-62. NAN – We re-performed the calculations in the model to test the C mathematical integrity. E – We calculated the degree to which the key assumptions would need to fluctuate before there is a change in the impairment/impairment reversal. F I – We assessed the discount rate used by obtaining the underlying data NAN used in the calculation and benchmarking it against comparable C organisations and market data with the support of our valuation IAL specialists. S – We have further reviewed managements cash flow forecasts used T A to support the repayment of intercompany payables to the parent T E company (outside of the Group VIU). M – We considered sensitivity analysis about what changes in assumptions E N could individually lead to a different conclusion. T – We audited the disclosures in respect of impairment of investments and S confirm their consistency with the audited impairment models. F U R OUR APPLICATION OF MATERIALITY T H We apply the concept of materiality in planning and performing the audit, in evaluating the effect of identified misstatements on the audit and in forming our E R audit opinion. INF Materiality OR M The magnitude of an omission or misstatement that, individually or in the aggregate, could reasonably be expected to influence the economic decisions of the A T users of the financial statements. Materiality provides a basis for determining the nature and extent of our audit procedures. I ON We determined materiality for the Group to be £7.5 million (2022: £4.75 million), which is 2.5% (2022: 2.5%) of Adjusted EBITDA. We believe that Adjusted EBITDA provides us with an appropriate basis for materiality as it is a key metric used by investors and management in assessing the performance of the Group. We determined materiality for the Parent Company to be £25.4 million (2022: £30.8 million), which is 1% (2022: 1.5%) of Equity. We have reduced the percentage applied to determine materiality in the current year as a result of the prior year adjustments identified. When auditing balances included within to the Group financial statements we reduced this to the Group materiality. Starting basis Adjustments Materiality – Loss before Tax – £239.8m – Adjusting items – £68.0m – EBITDA – £305.9m – Adjusted net finance – Materiality of £7.5m (2.5% of expense – £92.1m materiality basis) – Depreciation and Amortisation – £385.6m During the course of our audit, we reassessed initial materiality and updated this for actual results. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 138

S S TR Performance materiality TR A The application of materiality at the individual account or balance level. It is set at an amount to reduce to an appropriately low level the probability that the A TE aggregate of uncorrected and undetected misstatements exceeds materiality. TE G G I I C C R On the basis of our risk assessments, together with our assessment of the Group’s overall control environment, our judgement was that performance R E E P materiality was 50% (2022: 50%) of our planning materiality, namely £3.75m (2022: £2.4m). We have set performance materiality at this percentage due to P O O R the level of audit adjustments identified in the prior year. R T T Audit work at component locations for the purpose of obtaining audit coverage over significant financial statement accounts is undertaken based on a G percentage of total performance materiality. The performance materiality set for each component is based on the relative scale and risk of the component G O to the Group as a whole and our assessment of the risk of misstatement at that component. In the current year, the range of performance materiality allocated O VE VE R to components was £0.75m to £3.7m (2022: £0.47m to £2.4m). R NAN NAN Reporting threshold C C E An amount below which identified misstatements are considered as being clearly trivial. E We agreed with the Audit Committee that we would report to them all uncorrected audit differences in excess of £0.38m (2022: £0.24m), which is set at 5% F F I of planning materiality, as well as differences below that threshold that, in our view, warranted reporting on qualitative grounds. I NAN NAN C We evaluate any uncorrected misstatements against both the quantitative measures of materiality discussed above and in light of other relevant qualitative C IAL considerations in forming our opinion. IAL S S T T A OTHER INFORMATION A T T E The other information comprises the information included in the annual report set out on pages 1 to 208 other than the financial statements and our auditor’s E M M E report thereon. The directors are responsible for the other information contained within the annual report. E N N T T S S Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in this report, we do not express any form of assurance conclusion thereon. F F U U R R T Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial T H H E statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies E R R INF or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. INF If, based on the work we have performed, we conclude that there is a material misstatement of the other information, we are required to report that fact. OR OR M We have nothing to report in this regard. M A A T T I I ON OPINIONS ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006 ON In our opinion, the part of the directors’ remuneration report to be audited has been properly prepared in accordance with the Companies Act 2006. In our opinion, based on the work undertaken in the course of the audit: – the information given in the strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and – the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: – adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or – the parent company financial statements and the part of the Directors’ Remuneration Report to be audited are not in agreement with the accounting records and returns; or – certain disclosures of directors’ remuneration specified by law are not made; or – we have not received all the information and explanations we require for our audit. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 139

FINANCIAL STATEMENTS INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF ASTON MARTIN LAGONDA GLOBAL HOLDINGS PLC CONTINUED S CORPORATE GOVERNANCE STATEMENT TR We have reviewed the directors’ statement in relation to going concern, longer-term viability and that part of the Corporate Governance Statement relating A TE to the group and company’s compliance with the provisions of the UK Corporate Governance Code specified for our review by the Listing Rules. G I C Based on the work undertaken as part of our audit, we have concluded that each of the following elements of the Corporate Governance Statement is R E materially consistent with the financial statements or our knowledge obtained during the audit: P O R – Directors’ statement with regards to the appropriateness of adopting the going concern basis of accounting and any material uncertainties identified set T out on pages 147-148; – Directors’ explanation as to its assessment of the company’s prospects, the period this assessment covers and why the period is appropriate set out on G O page 70; VE – Director’s statement on whether it has a reasonable expectation that the group will be able to continue in operation and meets its liabilities set out on R pages 70 and 147-148; NAN – Directors’ statement on fair, balanced and understandable set out on pages 100-101 and 129; C – Board’s confirmation that it has carried out a robust assessment of the emerging and principal risks set out on page 102; E – The section of the annual report that describes the review of effectiveness of risk management and internal control systems set out on pages 102-103; – The section describing the work of the audit committee set out on page 98-105. F I RESPONSIBILITIES OF DIRECTORS NAN As explained more fully in the directors’ responsibilities statement set out on page 129, the directors are responsible for the preparation of the financial C IAL statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the S preparation of financial statements that are free from material misstatement, whether due to fraud or error. T A T In preparing the financial statements, the directors are responsible for assessing the group and parent company’s ability to continue as a going concern, E M disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the E N group or the parent company or to cease operations, or have no realistic alternative but to do so. T S AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS F Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to U R fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit T H conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are E R considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of INF these financial statements. OR Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud M A Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined T I above, to detect irregularities, including fraud. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one ON resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 140

S S TR However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the company and management. TR A A TE – We obtained an understanding of the legal and regulatory frameworks that are applicable to the group and determined that the most significant are TE G G I I C frameworks which are directly relevant to specific assertions in the financial statements are those that relate to the reporting framework (UK adopted C R R international accounting standards, FRS 101, the Companies Act 2006 and UK Corporate Governance Code). E E P – We understood how Aston Martin Lagonda Global Holdings plc is complying with those frameworks by making enquiries of management, internal audit, P O O R those responsible for legal and compliance procedures and the company secretary. We corroborated our enquiries through our review of board minutes, R T papers provided to the Audit Committee and correspondence received from regulatory bodies. T – We assessed the susceptibility of the group’s financial statements to material misstatement, including how fraud might occur by meeting with G management and internal audit to understand where they considered there was susceptibility to fraud. We also considered performance targets and the G O O VE potential incentives or opportunities to manage earnings or influence the perceptions of analysts. We considered the programmes and controls that the VE R Group has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those R NAN programs and controls. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These NAN procedures included testing manual journals and were designed to provide reasonable assurance that the financial statements were free from material C C E fraud. E – Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures involved understanding management’s internal controls over compliance with laws and regulations; enquiries of legal counsel, Group management, internal audit, F F I and full and specific scope management; reading internal audit reports and whistleblowing summaries provided to the Audit Committee and performing I NAN focused testing, as referred to in the key audit matters section above. NAN C – Specific enquiries were made with the component team to confirm any non-compliance with laws and regulations and this was reported through their C IAL audit deliverables based on the procedures detailed in the previous paragraph. IAL S S T T A A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at https://www.frc. A T T E org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. E M M E E N N T OTHER MATTERS WE ARE REQUIRED TO ADDRESS T S – Following the recommendation from the audit committee we were appointed by the company on 24 July 2019 to audit the financial statements for the S year ending 31 December 2019 and subsequent financial periods. F F U U R R T The period of total uninterrupted engagement including previous renewals and reappointments is five years, covering the years ending 2019 to 2023. T H H E E R R INF – The audit opinion is consistent with the additional report to the audit committee. INF OR USE OF OUR REPORT OR M This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been M A A T undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. T I I ON To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, ON for our audit work, for this report, or for the opinions we have formed. SIMON O’NEILL (SENIOR STATUTORY AUDITOR) FOR AND ON BEHALF OF ERNST & YOUNG LLP, STATUTORY AUDITOR Birmingham 27 February 2024 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 141

FINANCIAL STATEMENTS S TR Consolidated Statement of Comprehensive Income A TE for the year ended 31 December 2023 G I C 2023 2022 R E P Adjusting Adjusting O Adjusted items* Total Adjusted items* Total R Notes £m £m £m £m £m £m T Revenue 3 1,632.8 – 1,632.8 1,381.5 – 1,381.5 Cost of sales (993.6) – (993.6) (930.8) – (930.8) G Gross profit 639.2 – 639.2 450.7 – 450.7 O Selling and distribution expenses (143.8) – (143.8) (113.0) – (113.0) VE R Administrative and other operating expenses (575.1) (31.5) (606.6) (455.6) (23.9) (479.5) NAN Operating loss 4 (79.7) (31.5) (111.2) (117.9) (23.9) (141.8) C E Finance income 7 74.3 – 74.3 3.0 12.5 15.5 Finance expense 8 (166.4) (36.5) (202.9) (336.1) (32.6) (368.7) Loss before tax (171.8) (68.0) (239.8) (451.0) (44.0) (495.0) F I NAN Income tax credit/(charge) 9 13.0 – 13.0 (32.7) – (32.7) Loss for the year (158.8) (68.0) (226.8) (483.7) (44.0) (527.7) C IAL S Loss attributable to: T A Owners of the Group (228.1) (528.6) T E M Non-controlling interests 33 1.3 0.9 E (226.8) (527.7) N T S Other comprehensive income F Items that will never be reclassified to the Income Statement U R T Remeasurement of Defined Benefit liability 26 (0.1) 6.8 H Taxation on items that will never be reclassified to the E R INF Income Statement 9 – (1.7) Items that are or may be reclassified to the Income Statement OR Foreign currency translation differences (4.0) 3.8 M A Fair value adjustment – cash flow hedges 23 0.7 (6.1) T I ON Amounts reclassified to the Income Statement – cash flow hedges 23 (5.4) 2.9 Taxation on items that may be reclassified to the Income Statement 9 1.2 0.8 Other comprehensive (loss)/income for the year, net of income tax (7.6) 6.5 Total comprehensive loss for the year (234.4) (521.2) Total comprehensive (loss)/income for the year attributable to: Owners of the Group (235.7) (522.1) Non-controlling interests 33 1.3 0.9 (234.4) (521.2) Earnings per ordinary share Basic loss per share 11 (30.5p) (124.5p) Diluted loss per share 11 (30.5p) (124.5p) All operations of the Group are continuing. * Adjusting items are defined in note 2 with further detail shown in note 5. The notes on pages 147 to 199 form an integral part of the Financial Statements. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 142

S S TR TR Consolidated Statement of Comprehensive Income Consolidated Statement of Changes in Equity as at 31 December 2023 A A TE TE for the year ended 31 December 2023 G Capital Retained Non- Total G I I C Share Share Merger redemption Capital Translation Hedge earnings controlling Equity C 2023 2022 R capital premium reserve reserve reserve reserve reserves (restated*) interest (restated*) R E Group £m £m £m £m £m £m £m £m £m £m E P P Adjusting Adjusting O O At 1 January 2023 (restated*) 69.9 1,697.4 143.9 9.3 6.6 6.5 4.3 (1,233.9) 19.5 723.5 Adjusted items*Total Adjusted items* Total R R Notes £m £m £m £m £m £m TTotal comprehensive loss for T Revenue 3 1,632.8 – 1,632.8 1,381.5 – 1,381.5 the year Cost of sales (993.6) – (993.6) (930.8) – (930.8) G G (Loss)/profit for the year – – – – – – – (228.1) 1.3 (226.8) Gross profit 639.2 – 639.2 450.7 – 450.7 O O VE VE Other comprehensive income Selling and distribution expenses (143.8) – (143.8) (113.0) – (113.0) R R Foreign currency translation – – – – – (4.0) – – – (4.0) Administrative and other operating expenses (575.1) (31.5) (606.6) (455.6) (23.9) (479.5) NANdifferences NAN Operating loss 4 (79.7) (31.5) (111.2) (117.9) (23.9) (141.8) Fair value movement – cash flow – – – – – – 0.7 – – 0.7 C C E hedges (note 23) E Finance income 7 74.3 – 74.3 3.0 12.5 15.5 Finance expense 8 (166.4) (36.5) (202.9) (336.1) (32.6) (368.7) Amounts reclassified to the – – – – – – (5.4) – – (5.4) Income Statement – cash flow Loss before tax (171.8) (68.0) (239.8) (451.0) (44.0) (495.0) F F I I NAN hedges (note 23) NAN Income tax credit/(charge) 9 13.0 – 13.0 (32.7) – (32.7) Remeasurement of Defined – – – – – – – (0.1) – (0.1) Loss for the year (158.8) (68.0) (226.8) (483.7) (44.0) (527.7) C C IAL Benefit liability (note 26) IAL S S Tax on other comprehensive loss – – – – – – 1.2 – – 1.2 Loss attributable to: T (note 9) T A A Owners of the Group (228.1) (528.6) T T Total other comprehensive loss – – – – – (4.0) (3.5) (0.1) – (7.6) E E M M Non-controlling interests 33 1.3 0.9 E E Total comprehensive – – – – – (4.0) (3.5) (228.2) 1.3 (234.4) (226.8) (527.7) N N T r T (loss)/income for the yea S S Transactions with owners, Other comprehensive income recorded directly in equity F F Items that will never be reclassified to the Income Statement Issuance of new shares (note 27) 11.5 383.0 – – – – – – – 394.5 U U R R T T Remeasurement of Defined Benefit liability 26 (0.1) 6.8 Issue of shares to Share Incentive 0.1 – – – – – – (0.1) – – H H Taxation on items that will never be reclassified to the EPlan (note 27) E R R INF INF Income Statement 9 – (1.7) Warrant options exercised (note 0.9 14.1 – – – – – 18.6 – 33.6 Items that are or may be reclassified to the Income Statement 27) OR OR Foreign currency translation differences (4.0) 3.8 Credit for the year under equity-– – – – – – – 5.4 – 5.4 M settled share-based payments M A A Fair value adjustment – cash flow hedges 23 0.7 (6.1) T (note 29) T I I ON ON Amounts reclassified to the Income Statement – cash flow hedges 23 (5.4) 2.9 Taxation on items that may be reclassified to the Income Statement 9 1.2 0.8 Tax on items credited to equity – – – – – – – 0.5 – 0.5 (note 9) Other comprehensive (loss)/income for the year, net of income tax (7.6) 6.5 Total transactions with owners 12.5 397.1 – – – – – 24.4 – 434.0 Total comprehensive loss for the year (234.4) (521.2) At 31 December 2023 82.4 2,094.5 143.9 9.3 6.6 2.5 0.8 (1,437.7) 20.8 923.1 Total comprehensive (loss)/income for the year attributable to: * Detail on the restatement is disclosed in note 2. Owners of the Group (235.7) (522.1) Non-controlling interests 33 1.3 0.9 (234.4) (521.2) Earnings per ordinary share Basic loss per share 11 (30.5p) (124.5p) Diluted loss per share 11 (30.5p) (124.5p) All operations of the Group are continuing. * Adjusting items are defined in note 2 with further detail shown in note 5. The notes on pages 147 to 199 form an integral part of the Financial Statements. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 143

FINANCIAL STATEMENTS CONSOLIDATED STATEMENT OF CHANGES IN EQUITY CONTINUED Capital Retained Non- Total S Share Share Merger redemption Capital Translation Hedge earnings controlling Equity TR capital premium reserve reserve reserve reserve reserves (restated*) interest (restated*) A Group £m £m £m £m £m £m £m £m £m £m TE G I At 1 January 2022 (restated*) 11.6 1,123.4 143.9 9.3 6.6 2.7 6.7 (711.4) 18.6 611.4 C Total comprehensive loss for R E the yea P r O R (Loss)/profit for the year – – – – – – – (528.6) 0.9 (527.7) T Other comprehensive income Foreign currency translation G O differences – – – – – 3.8 – – – 3.8 Fair value movement – cash flow VE R hedges (note 23) – – – – – – (6.1) – – (6.1) Amounts reclassified to the NAN Income Statement – cash flow C E hedges (note 23) – – – – – – 2.9 – – 2.9 Remeasurement of Defined F Benefit liability (note 26) – – – – – – – 6.8 – 6.8 I Tax on other comprehensive NAN income (note 9) – – – – – – 0.8 (1.7) – (0.9) C Total other comprehensive IAL S income/(loss) – – – – – 3.8 (2.4) 5.1 – 6.5 T Total comprehensive A T income/(loss) for the yea E r – – – – – 3.8 (2.4) (523.5) 0.9 (521.2) M Transactions with owners, E N T recorded directly in equity S Issuance of new shares (note 27) 58.3 574.0 – – – – – – – 632.3 Credit for the year under equity- F settled share-based payments U R T (note 29) – – – – – – – 1.0 – 1.0 H Total transactions with owners 58.3 574.0 – – – – – 1.0 – 633.3 E R At 31 December 2022 INF (restated*) 69.9 1,697.4 143.9 9.3 6.6 6.5 4.3 (1,233.9) 19.5 723.5 OR * Detail on the restatement is disclosed in note 2. M A T I ON ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 144

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY CONTINUED Capital Retained Non-Total S S Share Share Merger redemption Capital Translation Hedge earnings controlling Equity TR TR Consolidated Statement of Financial Position at 31 December 2023 capital premium reserve reserve reserve reserve reserves (restated*) interest (restated*) A A Group £m £m £m £m £m £m £m £m £m £m TE TE G 31 December 31 December 1 January G I I At 1 January 2022 (restated*) 11.6 1,123.4 143.9 9.3 6.6 2.7 6.7 (711.4) 18.6 611.4 C 2023 2022 (restated*) 2022 (restated*) C Total comprehensive loss for R Notes £m £m £m R E E P P the year Non-current assets O O R R (Loss)/profit for the year – – – – – – – (528.6) 0.9 (527.7) Intangible assets 12 1,577.6 1,394.6 1,384.1 T T Other comprehensive income Property, plant and equipment 14 353.7 369.9 355.5 Investments in equity interests 15 18.2 – – Foreign currency translation G G Right-of-use lease assets 16 70.4 74.4 76.0 O O differences – – – – – 3.8 – – – 3.8 Trade and other receivables 18 5.3 6.3 2.1 Fair value movement – cash flow VE VE Other financial assets – – 0.5 R R hedges (note 23) – – – – – – (6.1) – – (6.1) NAN NAN Deferred tax asset 9 156.3 133.7 156.4 Amounts reclassified to the 2,181.5 1,978.9 1,974.6 Income Statement – cash flow C C Current assets E E hedges (note 23) – – – – – – 2.9 – – 2.9 Inventories 17 272.7 286.2 196.8 Remeasurement of Defined Trade and other receivables 18 322.2 245.7 243.4 F F Benefit liability (note 26) – – – – – – – 6.8 – 6.8 I I Income tax receivable 0.9 1.4 1.5 Tax on other comprehensive NAN NAN Other financial assets 20 3.3 8.8 7.3 income (note 9) – – – – – – 0.8 (1.7) – (0.9) C C Cash and cash equivalents 19 392.4 583.3 418.9 Total other comprehensive IAL IAL 991.5 1,125.4 867.9 S S income/(loss) – – – – – 3.8 (2.4) 5.1 – 6.5 Total assets 3,173.0 3,104.3 2,842.5 T T Total comprehensive A A Current liabilities T T income/(loss) for the yeaE E r – – – – – 3.8 (2.4) (523.5) 0.9 (521.2) M M Borrowings 23 89.4 107.1 114.3 Transactions with owners, E E Trade and other payables 21 840.4 891.2 735.9 N N T T recorded directly in equity S S Income tax payable 2.1 6.3 5.5 Issuance of new shares (note 27) 58.3 574.0 – – – – – – – 632.3 Other financial liabilities 22 25.2 26.2 34.8 Credit for the year under equity-Lease liabilities 16 8.8 7.4 9.7 F F U U settled share-based payments Provisions 25 20.2 18.6 19.9 R R T T (note 29) – – – – – – – 1.0 – 1.0 986.1 1,056.8 920.1 H H E E Total transactions with owners 58.3 574.0 – – – – – 1.0 – 633.3 Non-current liabilities R R INF INF At 31 December 2022 Borrowings 23 980.3 1,104.0 1,074.9 (restated*) 69.9 1,697.4 143.9 9.3 6.6 6.5 4.3 (1,233.9) 19.5 723.5 Trade and other payables 21 122.3 43.2 43.9 OR OR Lease liabilities 16 88.5 92.4 93.7 * Detail on the restatement is disclosed in note 2. M M A A Provisions 25 23.7 22.5 19.0 T T I I Employee benefits 26 49.0 61.2 78.7 ON ON Deferred tax liabilities 9 – 0.7 0.8 1,263.8 1,324.0 1,311.0 Total liabilities 2,249.9 2,380.8 2,231.1 Net assets 923.1 723.5 611.4 Capital and reserves Share capital 27 82.4 69.9 11.6 Share premium 27 2,094.5 1,697.4 1,123.4 Merger reserve 143.9 143.9 143.9 Capital redemption reserve 9.3 9.3 9.3 Capital reserve 6.6 6.6 6.6 Translation reserve 2.5 6.5 2.7 Hedge reserves 23 0.8 4.3 6.7 Retained earnings (1,437.7) (1,233.9) (711.4) Equity attributable to owners of the Group 902.3 704.0 592.8 Non-controlling interests 20.8 19.5 18.6 Total shareholders’ equit y 923.1 723.5 611.4 * Detail on the restatement is disclosed in note 2. The Financial Statements were approved by the Board of Directors on 27 February 2024 and were signed on its behalf by AMEDEO FELISA DOUG LAFFERTY CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER Company Number: 11488166 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 145

FINANCIAL STATEMENTS S TR Consolidated Statement of Cash Flows for the year ended 31 December 2023 A TE 2023 2022 G I Notes £m £m C Operating activities R E P Loss for the year (226.8) (527.7) O R Adjustments to reconcile loss for the year to net cash inflow from operating activities T Tax (credit)/charge on operations 9 (13.0) 32.7 Net finance costs 128.6 353.2 G O Depreciation of property, plant and equipment 4 90.3 77.8 VE Depreciation of right-of-use lease assets 4 9.3 11.0 R Amortisation of intangible assets 4 283.4 219.3 NAN Loss on sale/scrap of property, plant and equipment 2.6 – C Difference between pension contributions paid and amounts recognised in Income Statement (15.0) (12.1) E Decrease/(increase) in inventories 11.9 (78.4) (Increase)/decrease in trade and other receivables (82.3) 0.1 F I Increase in trade and other payables 50.9 81.5 NAN C Decrease in advances and customer deposits (66.0) (17.9) IAL Movement in provisions 3.4 0.7 S Other non-cash movements (0.3) 1.2 T A Other non-cash movements – Movements in hedging position and foreign exchange derivatives (7.2) (3.2) T E M Other non-cash movements – Increase in other derivative contracts (11.2) (2.3) E N Other non-cash movements – Movements in deferred tax relating to RDEC credit 9 (7.4) (3.5) T Cash generated from operations 151.2 132.4 S Decrease in cash held not available for short-term use 19 0.3 1.5 F Income taxes paid 9 (5.6) (6.8) U R T Net cash inflow from operating activities 145.9 127.1 H E Cash flows from investing activities R Interest received 7 13.5 2.2 INF Repayment of loan assets 18 0.5 – OR Payments to acquire property, plant and equipment (91.1) (58.6) M A T Cash outflow on technology and development expenditure (306.3) (228.3) I Net cash used in investing activities (383.4) (284.7) ON Cash flows from financing activities Interest paid 28 (122.5) (141.2) Proceeds from equity share issue 27 310.9 653.9 Proceeds from issue of warrants 27 15.0 – Proceeds from financial instrument utilised during refinancing transactions 7 – 4.1 Principal element of lease payments 28 (7.9) (10.0) Repayment of existing borrowings 28 (129.7) (172.7) Premium paid upon redemption of borrowings 28 (8.0) (14.3) Proceeds from inventory repurchase arrangement 21 38.0 75.7 Repayment of inventory repurchase arrangement 21 (40.0) (60.0) Proceeds from new borrowings 28 11.5 – Transaction fees paid on issuance of shares (7.6) (18.6) Transaction fees paid on financing activities 28 – (1.9) Net cash inflow from financing activities 59.7 315.0 Net (decrease)/increase in cash and cash equivalents (177.8) 157.4 Cash and cash equivalents at the beginning of the year 583.3 418.9 Effect of exchange rates on cash and cash equivalents (13.1) 7.0 Cash and cash equivalents at the end of the year 392.4 583.3 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 146

NOTES TO THE FINANCIAL STATEMENTS S S TR 1 BASIS OF ACCOUNTING Climate change considerations have been factored into the Directors’ TR Consolidated Statement of Cash Flows for the year ended 31 December 2023 A Aston Martin Lagonda Global Holdings plc (the “Company”) is a company impairment assessments of the carrying value of non-current assets (such A TE incorporated in England and Wales and domiciled in the UK. The Group as capitalised development cost intangible assets) through usage of a pre- TE 2023 2022 G G I I Notes £m £m C Financial Statements consolidate those of the Company and its tax discount rate which reflects the individual nature and specific risks C Operating activities Rsubsidiaries (together referred to as the “Group”). relating to the business and the market in which the Group operates. R E E P P Loss for the year (226.8) (527.7) OThe Group Financial Statements have been prepared and approved by the In addition the forecast cash flows used in both the impairment O R R Adjustments to reconcile loss for the year to net cash inflow from operating activities TDirectors in accordance with UK adopted international accounting standards. assessments of the carrying value of non-current assets and T Tax (credit)/charge on operations 9 (13.0) 32.7 The Group Financial Statements have been prepared under the historical the assessment of the recoverability of deferred tax assets reflect the current energy cost headwinds and future costs to achieve net-zero Net finance costs 128.6 353.2 Gcost convention except where the measurement of balances at fair value G O manufacturing facilities by 2030 as well as the forecast volumes for both O Depreciation of property, plant and equipment 4 90.3 77.8 VEis required as explained below. The Financial Statements are prepared in existing and future car lines given current order books and the VE Depreciation of right-of-use lease assets 4 9.3 11.0 Rmillions to one decimal place, and in sterling, which is the Company’s assessment of changing customer preferences. R Amortisation of intangible assets 4 283.4 219.3 NANfunctional currency. NAN Going concern Loss on sale/scrap of property, plant and equipment 2.6 – CClimate change C Difference between pension contributions paid and amounts recognised in Income Statement (15.0) (12.1) EIn preparing the Consolidated Financial Statements, management have The Group meets its day-to-day working capital requirements and E considered the impact of climate change, particularly in the context of the medium term funding requirements through a mixture of $1,143.7m First Decrease/(increase) in inventories 11.9 (78.4) Lien notes at 10.5% which mature in November 2025, $121.7m of Second (Increase)/decrease in trade and other receivables (82.3) 0.1 Fdisclosures included in the Strategic Report this year and the sustainability F I Lien split coupon notes at 15% per annum (8.89 % cash and 6.11% I Increase in trade and other payables 50.9 81.5 NANgoals, including the stated net-zero targets. Climate change is not Payment in Kind) which mature in November 2026, a Revolving Credit NAN C expected to have a significant impact on the Group’s going concern Facility (£99.6m) which matures August 2025, facilities to finance C Decrease in advances and customer deposits (66.0) (17.9) IALassessment to 30 June 2025 nor the viability of the Group over the next inventory, a bilateral RCF facility and a wholesale vehicle financing facility IAL Movement in provisions 3.4 0.7 Sfive years following consideration of the below points. (as described in note 18). As previously announced, the Group expects to S Other non-cash movements (0.3) 1.2 T T A refinance the outstanding debt during the first half of 2024, however, A Other non-cash movements – Movements in hedging position and foreign exchange derivatives (7.2) (3.2) T– The Group has modelled various scenarios to take account of the risks T E E M and opportunities identified with the impact of climate change to the going concern assessment is not dependent on this occurring. M Other non-cash movements – Increase in other derivative contracts (11.2) (2.3) E E N assess the financial impact on its business plan and viability. Under the RCF the Group is required to comply with a leverage covenant N Other non-cash movements – Movements in deferred tax relating to RDEC credit 9 (7.4) (3.5) T T Cash generated from operations 151.2 132.4 S– The Group has a Strategic Cooperation Agreement with Mercedes-tested quarterly. Leverage is calculated as the ratio of adjusted EBITDA S Benz AG. The agreement provides the Company with access to a wide to net debt, after certain accounting adjustments are made. Of these Decrease in cash held not available for short-term use 19 0.3 1.5 range of world-class technologies for the next generation of luxury adjustments, the most significant is to account for lease liabilities under F F Income taxes paid 9 (5.6) (6.8) Uvehicles which are planned to be launched through to 2027. “frozen GAAP”, i.e. under IAS17 rather than IFRS 16. Details of this U R R T – The Group is developing alternatives to the Internal Combustion adjustment are included in note 16. The Group has complied with its T Net cash inflow from operating activities 145.9 127.1 H H E Engine (‘ICE’) with a blended drivetrain approach between 2025 and covenant requirements for the year ended 31 December 2023 and E Cash flows from investing activities R R Interest received 7 13.5 2.2 INF2030, including Plug-in Hybrid Electric Vehicle (‘PHEV’) and Battery expects to do so for the Going Concern period. INF Electric Vehicle (‘BEV’), with a clear plan to have a line-up of electric Repayment of loan assets 18 0.5 – ORsports cars and SUVs. This is supported by significant planned capital The amounts outstanding on all the borrowings are shown in note 23. OR Payments to acquire property, plant and equipment (91.1) (58.6) Minvestment of around £2bn in advanced technologies over the 5 year The Directors have developed trading and cash flow forecasts for the M A A T T Cash outflow on technology and development expenditure (306.3) (228.3) Iperiod from 2024 to 2028, with investment shifting from ICE to period from the date of approval of these Financial Statements through I Net cash used in investing activities (383.4) (284.7) ONBEV technology. 30 June 2025 (the going concern review period). These forecasts show ON Cash flows from financing activities – The Group has formed a landmark new supply agreement with world-that the Group has sufficient financial resources to meet its obligations as Interest paid 28 (122.5) (141.2) leading electric vehicle technologies company, Lucid Group, Inc. which they fall due, including repayment of the current RCF were it needing to will help drive the Group’s high-performance electrification strategy be repaid on 30 June 2025 and to comply with covenants for the going Proceeds from equity share issue 27 310.9 653.9 and its long-term growth. The agreement will see Lucid, a world-concern review period. The forecasts reflect the Group’s ultra-luxury Proceeds from issue of warrants 27 15.0 – leader in the design and manufacture of advanced electric powertrains performance-oriented strategy, balancing supply and demand and the Proceeds from financial instrument utilised during refinancing transactions 7 – 4.1 and battery systems, supply industry-leading electric vehicle actions taken to improve cost efficiency and gross margin. The forecasts Principal element of lease payments 28 (7.9) (10.0) technologies. Access to Lucid’s current and future powertrain and include the costs of the Group's environmental, social and governance Repayment of existing borrowings 28 (129.7) (172.7) battery technology will support the creation of a bespoke, singular BEV (“ESG”) commitments and make assumptions in respect of future market Premium paid upon redemption of borrowings 28 (8.0) (14.3) platform, suitable for all product types from hypercar to SUV. conditions and, in particular, wholesale volumes, average selling price, Proceeds from inventory repurchase arrangement 21 38.0 75.7 – The Group is leading a six-partner collaborative research and the launch of new models, and future operating costs. The nature of the development project, Project ELEVATION, that was awarded £9.0m of Group's business is such that there can be variation in the timing of cash Repayment of inventory repurchase arrangement 21 (40.0) (60.0) government funding through the Advanced Propulsion Centre, further flows around the development and launch of new models. In addition, Proceeds from new borrowings 28 11.5 – supplementing the research and development of its innovative the availability of funds provided through the vehicle wholesale finance Transaction fees paid on issuance of shares (7.6) (18.6) modular BEV platform. facility changes as the availability of credit insurance and sales volumes Transaction fees paid on financing activities 28 – (1.9) – The Group’s first hybrid supercar, Valhalla, is on course to enter vary, in total and seasonally. The forecasts take into account these factors Net cash inflow from financing activities 59.7 315.0 production in 2024, with its first BEV targeted for launch in 2026. to the extent that the Directors consider them to represent their best Net (decrease)/increase in cash and cash equivalents (177.8) 157.4 Consistent with the above, management have further considered the estimate of the future based on the information that is available to them Cash and cash equivalents at the beginning of the year 583.3 418.9 impact of climate change on a number of key estimates within the Financial at the time of approval of these Financial Statements. Effect of exchange rates on cash and cash equivalents (13.1) 7.0 Statements and has not found climate change to have a material impact Cash and cash equivalents at the end of the yeaon the conclusions reached. r 392.4 583.3 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 147

FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S 1 BASIS OF ACCOUNTING CONTINUED Foreign currency translation TR Going concern continued Transactions in foreign currencies are initially recorded in the functional A The Directors have considered a severe but plausible downside scenario currency of the operation by applying the exchange rate ruling at the date TE G I that includes considering the impact of a 15% reduction in DBX volumes of the transaction. Monetary assets and liabilities denominated in foreign C and a 10% reduction in sports volumes from forecast levels covering, currencies are retranslated at the rate of exchange ruling at the reporting R E although not exclusively, instances of reduced volume due to delayed date. All differences are taken to the Income Statement except for the P O product launches, operating costs higher than the base plan, incremental translational differences on monetary items that form part of designated R working capital requirements such as a reduced deposit inflows or hedge relationships. T increased deposit outflows and the impact of the strengthening of the The assets and liabilities of foreign operations are translated into sterling sterling dollar exchange rate. G at the rate of exchange ruling at the reporting date. Income and expenses O The Group plans to make continued investment for growth in the period are translated at average exchange rates for the period. The resulting VE and, accordingly, funds generated through operations are expected to be exchange differences are taken through Other Comprehensive Income R reinvested in the business mainly through new model development and to the translation reserve. On disposal of a foreign entity, the deferred NAN other capital expenditure. To a certain extent, such expenditure is cumulative amount recognised in the translation reserve relating to the C discretionary and, in the event of risks occurring which could have a foreign operation is recognised in the Income Statement. E particularly severe effect on the Group, as identified in the severe but Non-monetary items that are measured in terms of historical cost in a plausible downside scenario, actions such as constraining capital F foreign currency are translated using the exchange rates as at the dates I spending, working capital improvements, reduction in marketing of the initial transactions. Non-monetary items measured at fair value in a NAN expenditure and the continuation of strict and immediate expense control foreign currency are translated using the exchange rates at the date when C would be taken to safeguard the Group’s financial position. the fair value was determined. IAL In addition, we also considered the circumstances which would be needed S Revenue recognition T to exhaust the Group’s liquidity over the assessment period, a reverse A T Revenue is recognised when the Group satisfies its performance E stress test. This would indicate that vehicle sales would need to reduce by obligation to supply a product or service to the customer. Revenue is M E more than 15% from forecast levels without any of the above mitigations N measured at the fair value of the consideration receivable, deducting T to result in having no liquidity. The likelihood of these circumstances dealer incentives, VAT and other sales taxes or duty. The following S occurring is considered remote both in terms of the magnitude of the criteria must also be met before revenue is recognised. reduction and that over such a long period, management could take F substantial mitigating actions, such as reducing capital spending to Sale of vehicles U R preserve liquidity. Revenue from the sale of vehicles is recognised when control of T H the vehicle is passed to the dealer or individual, thus evidencing the E Accordingly, after considering the forecasts, appropriate sensitivities, R current trading and available facilities, the Directors have a reasonable satisfaction of the associated performance obligation under that contract. INF Control is passed when the buyer can direct the use of and obtain expectation that the Group has adequate resources to continue in substantially all of the benefits of the vehicle which is typically at the point OR operational existence for the foreseeable future and to comply with its of despatch. When despatch is deferred at the formal request of the M A financial covenants, therefore, the Directors continue to adopt the going T buyer and a written request to hold the vehicle until a specified delivery I concern basis in preparing the Financial Statements. date has been received, revenue is recognised when the vehicle is ready ON 2 ACCOUNTING POLICIES for despatch and the Group can no longer use or direct the vehicle to an Basis of consolidation alternative buyer. The Consolidated Financial Statements consist of the Financial The Group estimates the consideration to which it will be entitled in Statements of the Group and all entities controlled by the Group. All exchange for satisfaction of the performance obligation as part of the intercompany balances and transactions, including unrealised profits sale of a vehicle. Revenue is recognised at the wholesale selling price arising, are eliminated. net of dealer incentives (variable marketing expense or “VME”). VME is Subsidiaries estimated and accrued for at the time of the wholesale sale to the dealer Subsidiaries are entities controlled by the Group. The Group controls an where no other obligations exist. For those elements of VME connected entity when it is exposed to, or has rights to, variable returns from its with retail sales by the dealer where there is also a contractual involvement with the entity and has the ability to affect those returns requirement for the dealer to make additional wholesale purchases through its power over the entity. In assessing control, the Group takes at that time to receive the incentive, the incentive is accrued at the time into consideration potential voting rights that are currently exercisable. of the retail sale by the dealer to the end customer. The acquisition date is the date on which control is transferred to the acquirer. The financial statements of subsidiaries are included in the Group Financial Statements from the date that control commences until the date that control ceases. The financial statements of subsidiaries used in the preparation of the Consolidated Financial Statements are prepared for the same reporting year as the Group and are based on consistent accounting policies. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 148

NOTES TO THE FINANCIAL STATEMENTS CONTINUED S S 1 BASIS OF ACCOUNTING CONTINUED Foreign currency translation TR2 ACCOUNTING POLICIES CONTINUED Finance expense TR Going concern continued Transactions in foreign currencies are initially recorded in the functional ARevenue recognition continued Finance expense comprises interest payable on borrowings calculated using A The Directors have considered a severe but plausible downside scenario currency of the operation by applying the exchange rate ruling at the date TEWarranties are issued on new vehicles sold with no separate purchase the effective interest rate method, interest expense on the net Defined TE G G I I that includes considering the impact of a 15% reduction in DBX volumes of the transaction. Monetary assets and liabilities denominated in foreign Coption available to the customer and, on this basis, are accounted for in Benefit pension liability, gains and losses on financial instruments that C and a 10% reduction in sports volumes from forecast levels covering, currencies are retranslated at the rate of exchange ruling at the reporting Raccordance with IAS 37. Service packages sold as part of the supply of a are recognised at fair value through the Income Statement and foreign R E E although not exclusively, instances of reduced volume due to delayed date. All differences are taken to the Income Statement except for the Pvehicle are accounted for as a separate performance obligation with the exchange losses on foreign currency denominated financial liabilities. P O O product launches, operating costs higher than the base plan, incremental translational differences on monetary items that form part of designated Rrevenue deferred, based on the term of the package, at the original point R working capital requirements such as a reduced deposit inflows or hedge relationships. Tof sale. The deferred revenue is released to the Income Statement over Interest incurred on lease liabilities accounted for under IFRS 16, interest T increased deposit outflows and the impact of the strengthening of the the shorter of the period that the service package covers or the number charged in relation to significant financing components on customer The assets and liabilities of foreign operations are translated into sterling advance payments, and the unwind of discounting on long term liabilities sterling dollar exchange rate. Gof vehicle services that the end user is entitled to. G at the rate of exchange ruling at the reporting date. Income and expenses O are all recognised within finance expense. O The Group plans to make continued investment for growth in the period are translated at average exchange rates for the period. The resulting VEWhere a sale of a vehicle(s) includes multiple performance obligations, VE and, accordingly, funds generated through operations are expected to be exchange differences are taken through Other Comprehensive Income Rthe Group determines the allocation of the total transaction price by Current/non-current classification R reinvested in the business mainly through new model development and to the translation reserve. On disposal of a foreign entity, the deferred NANreference to their relative standalone selling prices. Current assets include assets held primarily for trading purposes, cash NAN and cash equivalents, and assets expected to be realised in, or intended other capital expenditure. To a certain extent, such expenditure is cumulative amount recognised in the translation reserve relating to the C C discretionary and, in the event of risks occurring which could have a foreign operation is recognised in the Income Statement. ESales of parts for sale or consumption as part of the Group’s normal identifiable E particularly severe effect on the Group, as identified in the severe but Revenue from the sale of parts is recognised upon transfer of control to operating cycle which is assumed to be 12 months. All other assets Non-monetary items that are measured in terms of historical cost in a the customer, generally when the parts are released to the carrier are classified as non-current assets. plausible downside scenario, actions such as constraining capital F F foreign currency are translated using the exchange rates as at the dates Iresponsible for transporting them. Where the dealer is Aston Martin I spending, working capital improvements, reduction in marketing of the initial transactions. Non-monetary items measured at fair value in a NANWorks Limited, an indirect subsidiary of the Company, revenue is Current liabilities include liabilities held primarily for trading purposes in NAN expenditure and the continuation of strict and immediate expense control line with the Group’s identifiable normal operating cycle. These liabilities foreign currency are translated using the exchange rates at the date when Crecognised upon despatch to a customer outside of the Group. C would be taken to safeguard the Group’s financial position. the fair value was determined. IAL are expected to be settled as part of the Group’s normal course of IAL In addition, we also considered the circumstances which would be needed SServicing and restoration of vehicles business. All other liabilities are classified as non-current liabilities. S Revenue recognition TRevenue is recognised upon completion of the service /restoration Customer deposits and advances are typically presented as current, T to exhaust the Group’s liquidity over the assessment period, a reverse A A T T Revenue is recognised when the Group satisfies its performance Etypically when the service or restoration is completed in accordance with although, due to the timing between deposit payment and a sale E stress test. This would indicate that vehicle sales would need to reduce by obligation to supply a product or service to the customer. Revenue is Mthe customers’ requirements. completing, can take longer than 12 months to unwind. M E E more than 15% from forecast levels without any of the above mitigations N N measured at the fair value of the consideration receivable, deducting T T to result in having no liquidity. The likelihood of these circumstances dealer incentives, VAT and other sales taxes or duty. The following SBrands and motorsport Goodwill S occurring is considered remote both in terms of the magnitude of the criteria must also be met before revenue is recognised. Revenue from brands and motorsport is recognised when the performance For acquisitions on or after 1 January 2010, the Group measures goodwill reduction and that over such a long period, management could take obligations, principally use of the Aston Martin brand name or supply of a at the acquisition date as: F F substantial mitigating actions, such as reducing capital spending to Sale of vehicles Umotorsport vehicle, are satisfied. Revenue is recognised either at a point in U R – the fair value of the consideration transferred; plus R preserve liquidity. Revenue from the sale of vehicles is recognised when control of Ttime or over a period of time in line with IFRS 15 according to the terms of T H – the recognised amount of any non-controlling interests H the vehicle is passed to the dealer or individual, thus evidencing the Ethe contract. E Accordingly, after considering the forecasts, appropriate sensitivities, R in the acquiree; plus R current trading and available facilities, the Directors have a reasonable satisfaction of the associated performance obligation under that contract. INFCustomer advance payments – the fair value of the existing equity interest in the acquiree; less INF Control is passed when the buyer can direct the use of and obtain expectation that the Group has adequate resources to continue in substantially all of the benefits of the vehicle which is typically at the point ORThe Group receives advance cash payments from customers to secure – the net recognised amount (generally fair value) of the identifiable OR operational existence for the foreseeable future and to comply with its of despatch. When despatch is deferred at the formal request of the Mtheir allocation of a vehicle produced in limited quantities, typically with assets acquired and liabilities assumed. M A A financial covenants, therefore, the Directors continue to adopt the going Ta lead time of greater than 12 months. The value of the advance, both T buyer and a written request to hold the vehicle until a specified delivery I Costs related to the acquisition, other than those associated with the issue I concern basis in preparing the Financial Statements. date has been received, revenue is recognised when the vehicle is ready ONcontractually refundable or non-refundable, is held as a contract liability of debt or equity securities, are expensed as incurred. ON 2 ACCOUNTING POLICIES for despatch and the Group can no longer use or direct the vehicle to an in the Statement of Financial Position. Upon satisfaction of the Basis of consolidation alternative buyer. performance obligation, the liability is released to revenue in the Income For the purpose of impairment testing, goodwill is allocated to the The Consolidated Financial Statements consist of the Financial Statement. If the deposit is returned to the customer prior to satisfaction related cash-generating unit. The only cash-generating unit of the Group Statements of the Group and all entities controlled by the Group. All The Group estimates the consideration to which it will be entitled in of the performance obligation, the contract liability is derecognised. is that of Aston Martin Lagonda Group as there are no smaller groups of intercompany balances and transactions, including unrealised profits exchange for satisfaction of the performance obligation as part of the Where a significant financing component exists, the contract liability assets that can be identified with certainty which generate specific cash arising, are eliminated. sale of a vehicle. Revenue is recognised at the wholesale selling price is increased over the same period of time as the contract liability is held flows independent of the inflows generated by other assets or groups net of dealer incentives (variable marketing expense or “VME”). VME is to account for the time value of money. A corresponding charge is of assets. Where the recoverable amount of the cash-generating unit is Subsidiaries estimated and accrued for at the time of the wholesale sale to the dealer recognised in the Income Statement within finance expenses. Upon less than the carrying amount, an impairment loss is recognised in the Subsidiaries are entities controlled by the Group. The Group controls an where no other obligations exist. For those elements of VME connected satisfaction of the linked performance obligation, the liability is released Income Statement. entity when it is exposed to, or has rights to, variable returns from its with retail sales by the dealer where there is also a contractual to revenue. Intangible assets involvement with the entity and has the ability to affect those returns requirement for the dealer to make additional wholesale purchases Intangible assets acquired separately from a business are carried initially through its power over the entity. In assessing control, the Group takes at that time to receive the incentive, the incentive is accrued at the time The Group applies a practical expedient for short-term advances at cost. An intangible asset acquired as part of a business combination is into consideration potential voting rights that are currently exercisable. of the retail sale by the dealer to the end customer. received from customers whereby the advanced payment is not adjusted recognised outside of goodwill if the asset is separable or arises from The acquisition date is the date on which control is transferred to the for the effects of a significant financing component. contractual or other legal rights and its fair value can be measured reliably. acquirer. The financial statements of subsidiaries are included in the Finance income Group Financial Statements from the date that control commences until Finance income comprises interest receivable on invested funds Fair value adjustments are considered to be provisional at the first year- the date that control ceases. The financial statements of subsidiaries used calculated using the effective interest rate method, interest income and end date after the acquisition to allow the maximum time to elapse for in the preparation of the Consolidated Financial Statements are prepared currency gains arising on foreign currency denominated borrowings management to make a reliable estimate. for the same reporting year as the Group and are based on consistent (not designated under a hedge relationship) that are recognised in the accounting policies. Income Statement. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 149

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S 2 ACCOUNTING POLICIES CONTINUED Amortisation TR Intangible assets continued Following initial recognition, the historical cost model is applied, with A Purchased intellectual property intangible assets being carried at cost less accumulated amortisation and TE G I Purchased intellectual property that is not integral to an item of property, accumulated impairment losses. Amortisation of these capitalised costs C plant and equipment is recognised separately as an intangible asset begins when the asset is available for use. Intangible assets with a finite R E stated at cost less accumulated depreciation. life have no residual value and are amortised on a straight-line basis over P O their expected useful lives as follows: R Brands T An acquired brand is only recognised in the Statement of Financial Position as an intangible asset where it is supported by a registered Years Purchased intellectual property 5 G trademark, is established in the marketplace, the brand could be sold O separately from the rest of the business and where the brand achieves Development costs 1 to 10 VE R earnings in excess of those achieved by unbranded products. Technology 10 Software and other 3 to 10 NAN The value of an acquired brand is determined by allocating the purchase Dealer network 20 C price consideration of an acquired business between goodwill and the E underlying fair values of the tangible assets, brands and other intangible assets acquired, using an income approach following the multi-period The useful lives and residual values of capitalised development costs are F excess earnings methodology. Acquired brands have an indefinite life determined at the time of capitalisation and are reviewed annually for I when there is no foreseeable limit to the period over which the asset is appropriateness and recoverability. NAN expected to generate cash inflows. C Amortisation of special vehicle development costs are spread evenly IAL Development costs across the limited quantity of vehicles produced and charged to the S Expenditure on internally developed intangible assets, excluding Income Statement at the point of sale for each vehicle. T A T development costs, is taken to the Income Statement in the year in which E it is incurred. Clearly defined and identifiable development costs are Property, plant and equipment M Property, plant and equipment is stated at cost less accumulated E N capitalised under IAS 38 ‘Intangible Assets’ after the following criteria T have been met: depreciation and accumulated impairment losses. Cost comprises the S aggregate amount paid, and the fair value of any other consideration – The project’s technical feasibility and commercial viability, based on an given, to acquire the asset, including directly attributable costs to make F estimate of future cash flows, can be demonstrated when the project the asset capable of operation. Borrowing costs directly attributable to U R has reached a defined milestone according to the Group's established assets under construction are capitalised. T H product development model. E Depreciation is provided on all property, plant and equipment, other than R – Technical and financial resources are available for the project. land, on a straight-line basis to its residual value over its expected useful INF – An intention to complete the project has been confirmed. – The correlation between development costs and future revenues has life as follows: OR been established. Years M A T Freehold buildings 30 I Technology Plant and machinery 5 to 30 ON Patented and unpatented technology acquired in business combinations is valued using the cost approach. The obsolete element is determined by Fixtures and fittings 3 to 12 reference to the proportion of the product lifecycle that had expired at Tooling 1 to 15 the acquisition date. Technology acquired from third parties is measured Motor vehicles 3 to 5 at the acquisition date fair value using the cost approach. Dealer network Tooling is depreciated over the life of the project. Assets in the course Save for certain direct sales of some special edition and buyer- of construction are included in their respective category but are not commissioned vehicles, the Group sells its vehicles exclusively through depreciated until available for use. The carrying values of property, a network of dealers. All dealers in the dealer network are independent plant and equipment are reviewed for impairment if events or changes in dealers with the exception of Aston Martin Works Limited. To the extent circumstances indicate the carrying value may not be recoverable and are that the Group benefits from the network, the dealer network has been written down immediately to their recoverable amount. Useful lives and valued based on costs incurred by the Group. The existing Dealer residual values are reviewed annually and where adjustments are required Network asset arose as part of a business combination. these are made prospectively. An item of property, plant and equipment is derecognised upon disposal. Any gain or loss arising on the derecognition of the asset is included in the Income Statement in the period of derecognition. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 150

NOTES TO THE FINANCIAL STATEMENTS CONTINUED S S 2 ACCOUNTING POLICIES CONTINUED Amortisation TR2 ACCOUNTING POLICIES CONTINUED Right-of-use assets and lease liabilities – IFRS 16 TR Intangible assets continued Following initial recognition, the historical cost model is applied, with AInvestments in equity instruments Leases under which the Group acts as lessee A Purchased intellectual property intangible assets being carried at cost less accumulated amortisation and TEUpon initial recognition, the Group can elect to classify irrevocably its The Group is a party to lease contracts for buildings, plant and machinery TE G G I I Purchased intellectual property that is not integral to an item of property, accumulated impairment losses. Amortisation of these capitalised costs Cequity investments as equity instruments designated at fair value through and IT equipment. The Group recognises a right-of-use asset and a lease C plant and equipment is recognised separately as an intangible asset begins when the asset is available for use. Intangible assets with a finite ROCI when they meet the definition of equity under IAS 32 Financial liability at the lease commencement date. The right-of-use asset is R E E stated at cost less accumulated depreciation. life have no residual value and are amortised on a straight-line basis over PInstruments: Presentation and are not held for trading. The classification initially measured at cost, which comprises the initial amount of the P O O their expected useful lives as follows: Ris determined on an instrument-by-instrument basis. Gains and losses on lease liability adjusted for any lease payments made at or before the R Brands T these financial assets are never recycled to profit or loss. Dividends are commencement date, plus any initial direct costs incurred and an T An acquired brand is only recognised in the Statement of Financial recognised as other income in the statement of profit or loss when the estimate of costs to dismantle and remove the underlying asset or to Position as an intangible asset where it is supported by a registered Years Purchased intellectual property 5 Gright of payment has been established, except when the Group benefits restore the underlying asset or the site on which it is located, less any G trademark, is established in the marketplace, the brand could be sold Ofrom such proceeds as a recovery of part of the cost of the financial asset, lease incentives received. O separately from the rest of the business and where the brand achieves Development costs 1 to 10 VEin which case, such gains are recorded in OCI. Equity instruments VE R R earnings in excess of those achieved by unbranded products. Technology 10 The right-of-use asset is subsequently depreciated using the straight-line Software and other 3 to 10 NANdesignated at fair value through OCI are not subject to impairment method from the commencement date to the earlier of the end of the NAN The value of an acquired brand is determined by allocating the purchase assessment. The Group elected to classify irrevocably its non-listed Dealer network 20 C useful life of the right-of-use asset or the end of the lease term. If the C price consideration of an acquired business between goodwill and the Eequity investments under this category. Group is reasonably certain to exercise a purchase option, the right-of- E underlying fair values of the tangible assets, brands and other intangible Government grants use asset is depreciated over the underlying asset’s useful life. The assets acquired, using an income approach following the multi-period The useful lives and residual values of capitalised development costs are F Government grants are recognised in the Income Statement, either on estimated useful lives of right-of-use assets are determined on the same F excess earnings methodology. Acquired brands have an indefinite life determined at the time of capitalisation and are reviewed annually for I I when there is no foreseeable limit to the period over which the asset is appropriateness and recoverability. NANa systematic basis when the Group recognises the related costs that the basis as those of property, plant and equipment. Moreover, the right-of-NAN grants are intended to compensate for, or immediately if the costs have use asset is periodically reduced by impairment losses, if any, and expected to generate cash inflows. C C Amortisation of special vehicle development costs are spread evenly IALalready been incurred. adjusted for certain remeasurements of the lease liability. IAL Development costs across the limited quantity of vehicles produced and charged to the SGovernment grants related to assets are deducted from the cost of the The lease liability is initially measured at the present value of the lease S Expenditure on internally developed intangible assets, excluding Income Statement at the point of sale for each vehicle. T T A asset and amortised over the useful life of the asset. Government grants payments unpaid at the commencement date, discounted using the A T T development costs, is taken to the Income Statement in the year in which E E it is incurred. Clearly defined and identifiable development costs are Property, plant and equipment Mare recognised when there is reasonable assurance that the Group will interest rate implicit in the lease or, if that rate cannot be readily M Property, plant and equipment is stated at cost less accumulated E E N comply with the relevant conditions and the grant will be received. determined, an estimate of the Group’s incremental borrowing rate at N capitalised under IAS 38 ‘Intangible Assets’ after the following criteria T T have been met: depreciation and accumulated impairment losses. Cost comprises the SResearch and development tax relief in the form of the Research and that point in time. S aggregate amount paid, and the fair value of any other consideration Development Expenditure Credit (“RDEC”) is recognised in the Income The Group estimates the incremental borrowing rate by taking a credit – The project’s technical feasibility and commercial viability, based on an given, to acquire the asset, including directly attributable costs to make F Statement over the periods in which the qualifying expenditure giving rise risk adjusted risk-free rate in addition to making other specific F estimate of future cash flows, can be demonstrated when the project the asset capable of operation. Borrowing costs directly attributable to U U R to the RDEC claim is recognised, as the Group’s assessment of the adjustments to account for certain characteristics in the lease such as R has reached a defined milestone according to the Group's established assets under construction are capitalised. T T H conditions of receipt of the RDEC concludes that it meets the definition geography, type of asset and security pledged. H product development model. E E Depreciation is provided on all property, plant and equipment, other than Rof a Government grant. Certain expenses within the scope of RDEC are R – Technical and financial resources are available for the project. land, on a straight-line basis to its residual value over its expected useful INFcapitalised as part of the Groups development costs. Where this is the Lease payments included in the measurement of the lease liability INF – An intention to complete the project has been confirmed. comprise either fixed lease payments or lease payments subject to – The correlation between development costs and future revenues has life as follows: ORcase, the Group defers the income associated with the claim to deferred periodic fixed increases. The lease liability is measured at amortised cost OR been established. Years Mincome and releases it to the Income Statement in line with the using the effective interest rate method. Lease payments are allocated M A A T amortisation profile of the associated asset. Claims are submitted T Freehold buildings 30 I between principal and interest cost with the interest costs charged to the I Technology Plant and machinery 5 to 30 ONannually based on the qualifying expenditure for a given accounting Income Statement over the lease period. ON Patented and unpatented technology acquired in business combinations period. The cash benefit from the claim is received in the year of the is valued using the cost approach. The obsolete element is determined by Fixtures and fittings 3 to 12 claim and presented in operating cash flows. The liability is remeasured when there is an increase/decrease in future reference to the proportion of the product lifecycle that had expired at Tooling 1 to 15 If the subsidiary submitting the claim is loss-making, the RDEC claim is lease payments arising from a change in an index or rate specified. the acquisition date. Technology acquired from third parties is measured Motor vehicles 3 to 5 restricted by an amount equal to the current rate of UK corporation tax. Short-term leases and leases of low-value assets at the acquisition date fair value using the cost approach. The restricted amount can be applied in discharging any liability of the The Group does not recognise right of-use-assets and lease liabilities Dealer network Tooling is depreciated over the life of the project. Assets in the course subsidiary to pay corporation tax in any subsequent tax period and has for short-term leases that have a lease term of fewer than 12 months Save for certain direct sales of some special edition and buyer-of construction are included in their respective category but are not been accounted for as an unused tax credit in accordance with IAS 12 and leases of low-value assets. The Group recognises the lease payments commissioned vehicles, the Group sells its vehicles exclusively through depreciated until available for use. The carrying values of property, and is included within deferred tax assets. associated with these leases as an expense on a straight-line basis in the a network of dealers. All dealers in the dealer network are independent plant and equipment are reviewed for impairment if events or changes in Income Statement over the lease term. dealers with the exception of Aston Martin Works Limited. To the extent circumstances indicate the carrying value may not be recoverable and are Movements in government grants are presented within operating cashflows. that the Group benefits from the network, the dealer network has been written down immediately to their recoverable amount. Useful lives and Carbon credits Impairment of assets valued based on costs incurred by the Group. The existing Dealer residual values are reviewed annually and where adjustments are required The production and import of vehicles into certain jurisdictions can trigger The Group assesses at each reporting date whether there is an indication Network asset arose as part of a business combination. these are made prospectively. a requirement to eliminate negative carbon credits, which gives rise to a that an asset may be impaired. If any such indication exists, or when liability. From time to time, the Group enters into contracts to purchase annual impairment testing for an asset is required, the Group makes an An item of property, plant and equipment is derecognised upon disposal. estimate of the asset’s recoverable amount. An asset’s recoverable Any gain or loss arising on the derecognition of the asset is included in the positive credits to offset the liability. The annual liability is currently amount is the higher of an asset, or cash-generating unit’s, fair value less Income Statement in the period of derecognition. immaterial to the Group. costs to sell and its value-in-use. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 151

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S 2 ACCOUNTING POLICIES CONTINUED designated as hedging instruments in hedging relationships is detailed in TR Impairment of assets continued the hedge accounting policies. A financial asset or liability is derecognised A Where the carrying amount of an asset exceeds its recoverable amount, when the contract that gives rise to it is settled, sold, cancelled or expires. TE G I the asset is considered impaired and is written down to its recoverable C amount. In assessing value-in-use, the estimated future cash flows are Financial assets and liabilities R Financial assets are cash or a contractual right to receive cash or another E discounted to their present value using a pre-tax discount rate that P financial asset from another entity or to exchange financial assets or O reflects current market assessments of the time value of money and the R risks specific to the asset. Impairment losses on continuing operations are liabilities with another entity under conditions that are potentially T recognised in the Income Statement. favourable to the entity. In addition, contracts that result in another entity delivering a variable number of its own equity instruments are G For goodwill, brands and other intangible assets that have an indefinite financial assets. O life, the recoverable amount is estimated annually or more frequently VE when there is an indication that the asset is impaired. Derivative financial instruments, including equity options, are held at fair R value. All other financial instruments are held at amortised cost. NAN For intangible assets, property, plant and equipment, and right-of-use Trade and other receivables C lease assets that have a finite life, the recoverable amount is estimated Trade and other receivables are carried at the lower of their original E when there is an indication that the asset is impaired. invoiced value and recoverable amount. A trade receivable loss Where an impairment loss subsequently reverses, the carrying amount of allowance is measured at an amount equal to the lifetime expected credit F I the asset (or cash-generating unit) is increased to the revised estimate of loss at initial recognition and throughout the life of the receivable. NAN the recoverable amount, but such that the increased carrying amount Receivables are not discounted, as the time value of money is not C does not exceed the carrying amount that would have been determined considered to be material. IAL had no impairment loss been recognised for the asset in prior periods. Trade and other payables S A reversal of an impairment loss is recognised in the Income Statement T A Trade and other payables are recognised and carried at their original T as income immediately. E invoiced value. Trade payables are not discounted to consider the time M E Inventories value of money as the impact is immaterial. N T Inventories are stated at the lower of cost and net realisable value. For Refundable and non-refundable customer deposits are held as contract S service and restoration projects, net realisable value is the price at which liabilities within current trade and other payables. the project can be invoiced in the normal course of business after F allowing for the costs of completion. Inventory sale and repurchase arrangements, which are in substance U R financing transactions, are included in other payables. The difference T Cost includes all costs incurred in bringing each product to its present H between the sale and repurchase value is accounted for as part of the E location and condition, as follows: R effective interest calculation. The effective interest is charged to the INF – Raw materials, service parts and spare parts – purchase cost on a first- Income Statement over the period from sale to repayment. in, first-out basis. OR Hedge accounting M – Work in progress and finished vehicles – cost of direct materials and A The Group uses derivative financial instruments in the form of forward T labour plus attributable overheads based on a normalised level of I activity, excluding borrowing costs. currency contracts, and certain US dollar denominated borrowings, to ON hedge the foreign currency risk of sales (including inter-Group sales) Provisions are made, on a specific basis, for obsolete, slow-moving and of finished vehicles and external purchases of component parts. For the defective stocks and if the cost of the service or restoration project purpose of hedge accounting, hedges are classified as cash flow hedges cannot be fully recovered. Inventories held under financing arrangements when hedging the exposure to variability in cash flows either attributable are recognised when control is transferred to the Group. to a particular risk associated with a recognised asset or liability, or a Cash and cash equivalents highly probable forecast transaction, or the foreign currency risk of an Cash and cash equivalent in the Statement of Financial Position comprise: unrecognised firm commitment. – cash, being cash at banks and in hand as well as demand deposits. At the inception of the hedge relationship, the Group formally designates – cash equivalents, being short-term deposits with an original maturity and documents the hedge relationship and the risk management of three months or less, subject to insignificant changes in value, objectives and strategy for undertaking the hedge. The documentation which are readily convertible to known amounts and held to meet includes identification of the hedging instrument, the hedged item, the short-term commitments. nature of the risk being hedged and how the Group will assess hedge effectiveness. A hedging relationship qualifies for hedge accounting if Derivative financial instruments it meets all the following effectiveness requirements: Derivative financial assets and liabilities are recognised in the Statement – There is an economic relationship between the hedged item and the of Financial Position at fair value when the Group becomes a party to the hedging instrument. contractual provisions of the instrument. The Group uses derivative – The effect of credit risk does not dominate the value changes resulting instruments to manage its exposure to foreign exchange risk arising from from that economic relationship. operating activities. Movements in the fair value of foreign exchange – The theoretical hedge ratio of the hedging relationship is the same derivatives not qualifying for hedge accounting are recognised in finance as practically occurs. income or expense. The accounting policy on derivatives that are ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 152

NOTES TO THE FINANCIAL STATEMENTS CONTINUED S S 2 ACCOUNTING POLICIES CONTINUED designated as hedging instruments in hedging relationships is detailed in TR2 ACCOUNTING POLICIES CONTINUED calculation results in a potential asset for the Group, the recognised asset TR Impairment of assets continued the hedge accounting policies. A financial asset or liability is derecognised AHedge accounting continued is limited to the present value of economic benefits available in the form A Where the carrying amount of an asset exceeds its recoverable amount, when the contract that gives rise to it is settled, sold, cancelled or expires. TEDerivative financial instruments of any future refunds from the plan or reductions in future contributions TE G G I I the asset is considered impaired and is written down to its recoverable CThe effective portion of the gain or loss on the hedging instrument is to the plan. When the calculation results in a deficit for the Group, the C amount. In assessing value-in-use, the estimated future cash flows are Financial assets and liabilities Rrecognised in Other Comprehensive Income in the cash flow hedge recognised liability is adjusted for the discounted value of future deficit R Financial assets are cash or a contractual right to receive cash or another E E discounted to their present value using a pre-tax discount rate that Preserve, while any ineffective portion is recognised immediately in the reduction contributions in excess of the calculated deficit. P financial asset from another entity or to exchange financial assets or O O reflects current market assessments of the time value of money and the RIncome Statement. The Group designates only the spot element of R risks specific to the asset. Impairment losses on continuing operations are liabilities with another entity under conditions that are potentially Tforward contracts as a hedging instrument. The forward element is Remeasurements of the net Defined Benefit asset or liability, which T recognised in the Income Statement. favourable to the entity. In addition, contracts that result in another recognised in Other Comprehensive Income and accumulated in a comprise actuarial gains and losses, the interest on plan assets, and the entity delivering a variable number of its own equity instruments are effect of the asset ceiling or minimum funding requirements, are G separate component of equity under cost of hedging reserve. G For goodwill, brands and other intangible assets that have an indefinite financial assets. O recognised immediately in Other Comprehensive Income. The Group O life, the recoverable amount is estimated annually or more frequently VEFinancial liability as a hedge determines the net interest expense (income) on the net Defined Benefit VE when there is an indication that the asset is impaired. Derivative financial instruments, including equity options, are held at fair RForeign currency differences arising on the retranslation of a financial asset or liability, considering any changes in the net defined asset or R value. All other financial instruments are held at amortised cost. NANliability designated as a cash flow hedge are recognised directly in Other liability during the period as a result of contributions and benefit NAN For intangible assets, property, plant and equipment, and right-of-use Trade and other receivables CComprehensive Income to the extent that the hedge is effective. To the payments. Net interest expense and other expenses related to Defined C lease assets that have a finite life, the recoverable amount is estimated Trade and other receivables are carried at the lower of their original Eextent that the hedge is ineffective, such differences are recognised in the Benefit plans are recognised in the Income Statement. E when there is an indication that the asset is impaired. invoiced value and recoverable amount. A trade receivable loss Income Statement. When the benefits of the plan are changed or when a plan is curtailed, the Where an impairment loss subsequently reverses, the carrying amount of allowance is measured at an amount equal to the lifetime expected credit F F I Subsequent accounting resulting change in benefit that relates to past service cost or the gain or I the asset (or cash-generating unit) is increased to the revised estimate of loss at initial recognition and throughout the life of the receivable. NANThe amounts accumulated in both the cash flow hedge reserve and the cost loss on curtailment is recognised immediately in the Income Statement. NAN the recoverable amount, but such that the increased carrying amount Receivables are not discounted, as the time value of money is not Cof hedging reserve are accounted for depending on the nature of the The Group recognises gains and losses on the settlement of a Defined C does not exceed the carrying amount that would have been determined considered to be material. IALunderlying hedged transaction. If the hedged transaction subsequently Benefit plan when the settlement occurs. IAL had no impairment loss been recognised for the asset in prior periods. Trade and other payables Sresults in the recognition of a non-financial item, the amount accumulated S A reversal of an impairment loss is recognised in the Income Statement T Share-based payment transactions T A in the hedge reserve is removed and included in the initial cost of the hedge A Trade and other payables are recognised and carried at their original T T as income immediately. E The fair value of equity-classified share-based awards with both market E invoiced value. Trade payables are not discounted to consider the time Mitem. For any other cash flow hedges, the amount accumulated in the and non-market-based performance conditions is recognised as an M E E Inventories value of money as the impact is immaterial. Nhedge reserve is reclassified to the Income Statement as a reclassification N T expense within administrative and other expenses in the Income T Inventories are stated at the lower of cost and net realisable value. For Refundable and non-refundable customer deposits are held as contract Sadjustment in the same period or periods during which the hedged cash Statement, with a corresponding increase in equity over the period that S service and restoration projects, net realisable value is the price at which liabilities within current trade and other payables. flow affects profit or loss. the employees become unconditionally entitled to the shares. the project can be invoiced in the normal course of business after F If hedge accounting is discontinued, the amount that has been F allowing for the costs of completion. Inventory sale and repurchase arrangements, which are in substance UThe amount recognised as an expense is adjusted to reflect both non- U R accumulated in the hedge reserve must remain in equity if the hedged R financing transactions, are included in other payables. The difference T market-based conditions, such as continued employment and profit- T Cost includes all costs incurred in bringing each product to its present Hfuture cash flows are still expected to occur. Otherwise, the amount will H between the sale and repurchase value is accounted for as part of the E related metrics, in addition to market-based conditions driven by an E location and condition, as follows: Rbe immediately reclassified to the Income Statement as a reclassification R effective interest calculation. The effective interest is charged to the INFadjustment. After discontinuation, once the hedged cash flow occurs, any estimation of the quantum of awards expected to vest at the date INF – Raw materials, service parts and spare parts – purchase cost on a first-Income Statement over the period from sale to repayment. of grant. in, first-out basis. ORamount remaining in the hedge reserve is accounted for depending OR Hedge accounting Mon the nature of the underlying transaction. Where the Group obtains goods or services in exchange for the issuance M – Work in progress and finished vehicles – cost of direct materials and A A The Group uses derivative financial instruments in the form of forward T of shares, these are accounted for as equity-settled share-based T labour plus attributable overheads based on a normalised level of IBorrowings I activity, excluding borrowing costs. currency contracts, and certain US dollar denominated borrowings, to ONBorrowings are recognised initially at fair value less attributable payments in accordance with IFRS 2. Where the fair value of the goods or ON hedge the foreign currency risk of sales (including inter-Group sales) transaction costs. Subsequent to initial recognition, borrowings are services can be estimated reliably, these are recorded at fair value with a Provisions are made, on a specific basis, for obsolete, slow-moving and of finished vehicles and external purchases of component parts. For the stated at amortised cost with any difference between the amount corresponding increase in equity. defective stocks and if the cost of the service or restoration project purpose of hedge accounting, hedges are classified as cash flow hedges initially recorded and redemption value being recognised in the Income In the instance of a scheme modification, the number of shares comprised cannot be fully recovered. Inventories held under financing arrangements when hedging the exposure to variability in cash flows either attributable Statement as a finance expense over the period of the borrowings on an in an award is adjusted to reflect equity changes in the Group and will are recognised when control is transferred to the Group. to a particular risk associated with a recognised asset or liability, or a effective interest basis. therefore not impact underlying charges. Cash and cash equivalents highly probable forecast transaction, or the foreign currency risk of an Cash and cash equivalent in the Statement of Financial Position comprise: unrecognised firm commitment. Pensions Provisions At the inception of the hedge relationship, the Group formally designates The Group operates a Defined Contribution pension plan under which the The Group provides product warranties on all new vehicle sales. Warranty – cash, being cash at banks and in hand as well as demand deposits. and documents the hedge relationship and the risk management Group pays fixed contributions into a separate entity and has no legal or provisions are recognised when vehicles are sold or when new warranty – cash equivalents, being short-term deposits with an original maturity objectives and strategy for undertaking the hedge. The documentation constructive obligation to pay further amounts. Obligations for programmes are initiated. Based on historical warranty claim experience, of three months or less, subject to insignificant changes in value, includes identification of the hedging instrument, the hedged item, the contributions to Defined Contribution pension plans are recognised as an assumptions are made on the type and extent of future warranty claims, which are readily convertible to known amounts and held to meet nature of the risk being hedged and how the Group will assess hedge expense in the Income Statement in the periods during which services are including non-contractual warranty claims as well as on possible recall short-term commitments. effectiveness. A hedging relationship qualifies for hedge accounting if rendered by employees. campaigns. These assessments are based on the frequency and extent Derivative financial instruments it meets all the following effectiveness requirements: The Group operates a Defined Benefit pension plan, which is contracted of vehicle faults and defects in the past. In addition, the estimates include Derivative financial assets and liabilities are recognised in the Statement out of the state scheme. The Group’s net obligation in respect of Defined assumptions on the potential repair costs per vehicle and the effects of of Financial Position at fair value when the Group becomes a party to the – There is an economic relationship between the hedged item and the Benefit plans is calculated for the plan by estimating the amount of the possible time or mileage limits. The provisions are regularly adjusted to contractual provisions of the instrument. The Group uses derivative hedging instrument. future benefit that employees have earned in the current and prior reflect new information. instruments to manage its exposure to foreign exchange risk arising from – The effect of credit risk does not dominate the value changes resulting periods, discounting that amount and deducting the fair value of any operating activities. Movements in the fair value of foreign exchange from that economic relationship. plan assets. derivatives not qualifying for hedge accounting are recognised in finance – The theoretical hedge ratio of the hedging relationship is the same income or expense. The accounting policy on derivatives that are as practically occurs. The calculation of Defined Benefit obligations is performed annually by a qualified actuary using the projected unit credit method. When the ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 153

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S 2 ACCOUNTING POLICIES CONTINUED Equity instruments TR Provisions continued An equity instrument is any contract that evidences a residual interest in A Restructuring provisions are recognised only when the Group has a the assets of the Group after deducting all of its liabilities. Equity TE G I constructive obligation, which is when: instruments issued by the Group are recorded at the proceeds received, C net of direct issue costs. Dividends and distributions relating to equity R – there is a detailed formal plan that identifies the business or part of the E instruments are debited direct to equity. P business concerned, the location and number of employees affected, O R the detailed estimate of the associated costs, and the timeline; and Adjusting items T – the employees affected have been notified of the plan’s main features. An adjusting item is disclosed separately in the Consolidated Statement of Comprehensive Income where the quantum, nature or volatility of such Income taxes G items would otherwise distort the underlying trading performance of the O Tax on the profit or loss for the period represents the sum of the tax Group, including where they are not expected to repeat in future periods. VE currently payable and deferred tax. Tax is recognised in the Income The tax effect is also included. R Statement except to the extent that it relates to items recognised directly NAN in equity or Other Comprehensive Income whereby the tax treatment Details in respect of adjusting items recognised in the current and prior C follows that of the underlying item. year are set out in note 5. E Current tax assets and liabilities are measured at the amount expected to Critical accounting assumptions and key sources of estimation be recovered from or paid to the taxation authorities, based on tax rates uncertainty estimates F I and laws that are enacted or substantively enacted by the reporting date. The preparation of Financial Statements requires management to make NAN estimates and assumptions that affect the amounts reported for assets C The Group is subject to corporate taxes in a number of different and liabilities as at the reporting date and the amounts reported for IAL jurisdictions and judgement is required in determining the appropriate revenues and expenses during the period. The nature of estimation means S provision for transactions where the ultimate tax determination is that actual outcomes could differ from those estimates. T A uncertain. In such circumstances, the Group recognises liabilities for T E anticipated taxes based on the best information available and where the In the process of applying the Group’s accounting policies, which are M E anticipated liability is both probable and can be estimated. Any interest described in this note, management have made estimates. Other than N T and penalties accrued, if applicable, are included in income taxes in both as set out below, variations in the remaining estimates are not considered S the Consolidated Income Statement and the Consolidated Statement of to give rise to a significant risk of a material adjustment to the carrying Financial Position. Where the final outcome of such matters differs from the amounts of assets and liabilities within the next financial year. The Group F amount recorded, any differences may impact the income tax and deferred considers it appropriate to identify the nature of the estimates used in U R tax provisions in the period in which the final determination is made. preparing the Group Financial Statements and the main sources T H of estimation uncertainty are: E Deferred tax is recognised on all temporary differences arising between R the tax bases of assets and liabilities and their carrying amounts in the – impairment of finite life intangible assets; and INF Financial Statements, with the following exceptions: – the recognition of deferred tax assets OR M – Where the temporary difference arises from the initial recognition of Impairment of finite life intangible assets A T goodwill or of an asset or liability in a transaction that is not a business For intangible assets that have a finite life, the recoverable amount I combination that at the time of the transaction affects neither is estimated when there is an indication that the asset is impaired. ON accounting nor taxable profit or loss. The result of the calculation of the value-in-use is sensitive to the – In respect of taxable temporary differences associated with assumptions made and is a subjective estimate (note 13). investments in subsidiaries, where the timing of the reversal of the temporary differences can be controlled and it is probable that the Recognition of deferred tax assets temporary differences will not reverse in the foreseeable future. Deferred tax assets are first recognised against deferred tax liabilities – Deferred income tax assets are recognised only to the extent that it is relating to the same taxation authority and the same taxable company probable that taxable profit will be available against which the which are expected to reverse in the same period. deductible temporary differences, carried forward tax credits or tax Net deferred tax assets remaining are then only recognised to the extent losses can be utilised. that it is probable that sufficient future taxable profits will be available Deferred tax assets and liabilities are measured on an undiscounted basis against which the deductible temporary difference or unused tax losses at the tax rates that are expected to apply when the related asset is or credits can be recovered or utilised. The Group reviews the same realised or liability is settled. Deferred tax assets and liabilities are underlying assumptions and future forecasts used for impairment testing, disclosed on a net basis where a right of offset exists. going concern and viability assessments to evaluate the level of The Group applied the exception under IAS 12 to recognising and estimated future taxable profits and the associated level of net deferred disclosing information about deferred tax assets and liabilities related to tax assets which are supportable for recognition at the reporting date. Pillar Two income taxes. In considering recoverability of the deferred tax assets, the Group relies upon future forecasts, which inherently increases the level of significant estimation uncertainty in the later periods. Note 9 provides information on the inherent sensitivities. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 154

NOTES TO THE FINANCIAL STATEMENTS CONTINUED S S 2 ACCOUNTING POLICIES CONTINUED Equity instruments TR2 Accounting policies continued TR Provisions continued An equity instrument is any contract that evidences a residual interest in ANew accounting standards A Restructuring provisions are recognised only when the Group has a the assets of the Group after deducting all of its liabilities. Equity TEThe following standards, amendments and interpretations were TE G G I I constructive obligation, which is when: instruments issued by the Group are recorded at the proceeds received, Capplicable for the period beginning 1 January 2023 and were adopted by C net of direct issue costs. Dividends and distributions relating to equity Rthe Group for the year to 31 December 2023. They have not had a R – there is a detailed formal plan that identifies the business or part of the E E instruments are debited direct to equity. Psignificant impact on the Group’s result for the year, equity or disclosures: P business concerned, the location and number of employees affected, O O R R the detailed estimate of the associated costs, and the timeline; and Adjusting items T– Definition of Accounting Estimates – Amendments to IAS 8. T – the employees affected have been notified of the plan’s main features. An adjusting item is disclosed separately in the Consolidated Statement – Deferred Tax related to Assets and Liabilities arising from a Single of Comprehensive Income where the quantum, nature or volatility of such Transaction – Amendments to IAS 12. Income taxes G G items would otherwise distort the underlying trading performance of the O– Disclosure of Accounting Policies – Amendments to O Tax on the profit or loss for the period represents the sum of the tax Group, including where they are not expected to repeat in future periods. VEIAS 1 and IFRS Practice Statement 2. VE currently payable and deferred tax. Tax is recognised in the Income The tax effect is also included. R R Statement except to the extent that it relates to items recognised directly NANThe following are new accounting standards and amendments to existing NAN in equity or Other Comprehensive Income whereby the tax treatment Details in respect of adjusting items recognised in the current and prior standards that have been published and are applicable for the Group’s C C follows that of the underlying item. year are set out in note 5. Eaccounting periods beginning 1 January 2024 onwards, which the Group E Current tax assets and liabilities are measured at the amount expected to Critical accounting assumptions and key sources of estimation has not adopted early: be recovered from or paid to the taxation authorities, based on tax rates uncertainty estimates F– Classification of Liabilities as Current or Non-current and F I I and laws that are enacted or substantively enacted by the reporting date. The preparation of Financial Statements requires management to make NANNon-current Liabilities with Covenants – Amendments to IAS 1. NAN estimates and assumptions that affect the amounts reported for assets C– Lease Liability in a Sale and Leaseback – Amendments to IFRS 16. C The Group is subject to corporate taxes in a number of different and liabilities as at the reporting date and the amounts reported for IAL– Supplier Finance Arrangements – Amendments to IAS 7 and IFRS 7. IAL jurisdictions and judgement is required in determining the appropriate revenues and expenses during the period. The nature of estimation means S S provision for transactions where the ultimate tax determination is The adoption of these standards and amendments is not expected to that actual outcomes could differ from those estimates. T T A A uncertain. In such circumstances, the Group recognises liabilities for Thave a material impact on the Group’s Consolidated Financial Statements. T E E anticipated taxes based on the best information available and where the In the process of applying the Group’s accounting policies, which are M M E E anticipated liability is both probable and can be estimated. Any interest described in this note, management have made estimates. Other than N N T T and penalties accrued, if applicable, are included in income taxes in both as set out below, variations in the remaining estimates are not considered S S the Consolidated Income Statement and the Consolidated Statement of to give rise to a significant risk of a material adjustment to the carrying Financial Position. Where the final outcome of such matters differs from the amounts of assets and liabilities within the next financial year. The Group F F amount recorded, any differences may impact the income tax and deferred considers it appropriate to identify the nature of the estimates used in U U R R tax provisions in the period in which the final determination is made. preparing the Group Financial Statements and the main sources T T H H of estimation uncertainty are: E E Deferred tax is recognised on all temporary differences arising between R R the tax bases of assets and liabilities and their carrying amounts in the – impairment of finite life intangible assets; and INF INF Financial Statements, with the following exceptions: – the recognition of deferred tax assets OR OR M M – Where the temporary difference arises from the initial recognition of Impairment of finite life intangible assets A A T T goodwill or of an asset or liability in a transaction that is not a business For intangible assets that have a finite life, the recoverable amount I I combination that at the time of the transaction affects neither is estimated when there is an indication that the asset is impaired. ON ON accounting nor taxable profit or loss. The result of the calculation of the value-in-use is sensitive to the – In respect of taxable temporary differences associated with assumptions made and is a subjective estimate (note 13). investments in subsidiaries, where the timing of the reversal of the temporary differences can be controlled and it is probable that the Recognition of deferred tax assets temporary differences will not reverse in the foreseeable future. Deferred tax assets are first recognised against deferred tax liabilities – Deferred income tax assets are recognised only to the extent that it is relating to the same taxation authority and the same taxable company probable that taxable profit will be available against which the which are expected to reverse in the same period. deductible temporary differences, carried forward tax credits or tax Net deferred tax assets remaining are then only recognised to the extent losses can be utilised. that it is probable that sufficient future taxable profits will be available Deferred tax assets and liabilities are measured on an undiscounted basis against which the deductible temporary difference or unused tax losses at the tax rates that are expected to apply when the related asset is or credits can be recovered or utilised. The Group reviews the same realised or liability is settled. Deferred tax assets and liabilities are underlying assumptions and future forecasts used for impairment testing, disclosed on a net basis where a right of offset exists. going concern and viability assessments to evaluate the level of The Group applied the exception under IAS 12 to recognising and estimated future taxable profits and the associated level of net deferred disclosing information about deferred tax assets and liabilities related to tax assets which are supportable for recognition at the reporting date. Pillar Two income taxes. In considering recoverability of the deferred tax assets, the Group relies upon future forecasts, which inherently increases the level of significant estimation uncertainty in the later periods. Note 9 provides information on the inherent sensitivities. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 155

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S PRIOR YEAR RESTATEMENT TR The Consolidated Statement of Financial Position as at 1 January 2022 and 31 December 2022 has been restated to reflect a prior period adjustment in A respect of the deferral of tax relief income received under the Research and Development Expenditure Credit (‘RDEC’) regime. The Group previously TE G I recognised the income within Administrative and other operating expenses in the Consolidated Income Statement, in the period in which the qualifying C expenditure giving rise to the RDEC claim was incurred. The Group has reassessed the treatment under IAS 20 in respect of income from RDEC claims where R E the qualifying expenditure has been capitalised. For these capitalised expenses, the RDEC income earned has been deferred to the Consolidated Statement P O of Financial Position and will be released to the Consolidated Income Statement over the same period as the amortisation of the costs capitalised to which R the RDEC income relates. Where the qualifying expenditure is not capitalised, the RDEC income will continue to be recognised in the Consolidated Income T Statement in the year the expenditure is incurred, as has previously been the approach. G The impact of this adjustment is that as at 1 January 2022 and 31 December 2022, £49.0m of deferred income has been recognised on the balance sheet O split between current £14.9m and non-current £34.1m Trade and Other Payables with a corresponding adjustment to retained earnings. There is no VE R adjustment to the Consolidated Income Statement for the year ended 31 December 2022 as the impact of the adjustment is not material to that individual NAN year. There is no change to the Consolidated Statement of Cash Flows as, whilst the accounting impact of the claim is deferred, there is no change to the C timing of the cash receipt. No change in the corporation tax position is recognised for the year ended 31 December 2022 in either the Consolidated Income E Statement or Consolidated Statement of Financial Position, as the recoverability assessment of the Group’s deferred tax position has not been materially changed by this restatement. As there is no adjustment to the Consolidated Income Statement and no change in the income tax position, there is no impact F on earnings per share. I NAN Where the notes included in these Consolidated Financial Statements provide additional analysis in respect of amounts impacted by the above restatement, C the comparative values presented have been re-analysed on a consistent basis. The following tables detail the impact on the Consolidated Statement of IAL Financial Position as at 31 December 2022 and 2021, respectively. S T A T As previously reported Adjustment Restated balance E 31 December 2022 31 December 2022 M E Liabilities £m £m £m N T S Non-current liabilities Trade and other payables 9.1 34.1 43.2 F U R Current liabilities T H E Trade and other payables 876.3 14.9 891.2 R INF Capital and reserves OR Retained Earnings (1,184.9) (49.0) (1,233.9) M A T I ON As previously reported Adjustment Restated balance 1 January 2022 1 January 2022 Liabilities £m £m £m Non-current liabilities Trade and other payables 9.8 34.1 43.9 Current liabilities Trade and other payables 721.0 14.9 735.9 Capital and reserves Retained Earnings (662.4) (49.0) (711.4) ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 156

NOTES TO THE FINANCIAL STATEMENTS CONTINUED S S PRIOR YEAR RESTATEMENT TR3 SEGMENTAL REPORTING TR The Consolidated Statement of Financial Position as at 1 January 2022 and 31 December 2022 has been restated to reflect a prior period adjustment in AOperating segments are defined as components of the Group about which separate financial information is available and is evaluated regularly by the chief A respect of the deferral of tax relief income received under the Research and Development Expenditure Credit (‘RDEC’) regime. The Group previously TEoperating decision-maker in assessing performance. The Group has only one operating segment, the automotive segment, and therefore no separate TE G G I I recognised the income within Administrative and other operating expenses in the Consolidated Income Statement, in the period in which the qualifying Csegmental report is disclosed. The automotive segment includes all activities relating to design, development, manufacture and marketing of vehicles, C expenditure giving rise to the RDEC claim was incurred. The Group has reassessed the treatment under IAS 20 in respect of income from RDEC claims where Rincluding consulting services; as well as the sale of parts, servicing and automotive brand activities from which the Group derives its revenues. R E E the qualifying expenditure has been capitalised. For these capitalised expenses, the RDEC income earned has been deferred to the Consolidated Statement P P O 2023 2022 O of Financial Position and will be released to the Consolidated Income Statement over the same period as the amortisation of the costs capitalised to which RRevenue £m £m R the RDEC income relates. Where the qualifying expenditure is not capitalised, the RDEC income will continue to be recognised in the Consolidated Income TAnalysis by category T Statement in the year the expenditure is incurred, as has previously been the approach. Sale of vehicles 1,531.9 1,291.5 G G The impact of this adjustment is that as at 1 January 2022 and 31 December 2022, £49.0m of deferred income has been recognised on the balance sheet OSale of parts 80.0 70.8 O split between current £14.9m and non-current £34.1m Trade and Other Payables with a corresponding adjustment to retained earnings. There is no VEServicing of vehicles 9.8 9.3 VE R R adjustment to the Consolidated Income Statement for the year ended 31 December 2022 as the impact of the adjustment is not material to that individual NANBrands and motorsport 11.1 9.9 NAN year. There is no change to the Consolidated Statement of Cash Flows as, whilst the accounting impact of the claim is deferred, there is no change to the 1,632.8 1,381.5 C C timing of the cash receipt. No change in the corporation tax position is recognised for the year ended 31 December 2022 in either the Consolidated Income E E Statement or Consolidated Statement of Financial Position, as the recoverability assessment of the Group’s deferred tax position has not been materially changed by this restatement. As there is no adjustment to the Consolidated Income Statement and no change in the income tax position, there is no impact 2023 2022 Revenue £m £m F F on earnings per share. I I NAN Analysis by geographical location NAN United Kingdom 309.9 366.0 Where the notes included in these Consolidated Financial Statements provide additional analysis in respect of amounts impacted by the above restatement, C C IAL 1 IAL the comparative values presented have been re-analysed on a consistent basis. The following tables detail the impact on the Consolidated Statement of The Americas 452.8 401.8 S 2 S Financial Position as at 31 December 2022 and 2021, respectively. Rest of Europe, Middle East and Africa 547.0 260.2 T 3 T A Asia Pacific 323.1 353.5 A T T As previously reported Adjustment Restated balance E E 31 December 2022 31 December 2022 M 1,632.8 1,381.5 M E E Liabilities £m £m £m N1. Within The Americas geographical segment, material revenue of £409.9m (2022: £363.9m) is generated in the United States of America N T T S 2. Within Rest of Europe, Middle East and Africa geographical segment, material revenue of £167.4m (2022: £87.5m) is generated in Germany S Non-current liabilities Trade and other payables 9.1 34.1 43.2 3. Within Asia Pacific geographical segment, material revenue of £91.8m (2022: £205.1m) is generated in China and £134.5m (2022: £68.9m) is generated in Japan F F Non-current assets other than financial instruments and deferred tax assets by geographical location U U R R Current liabilities T Right-of-use Property, plant, Intangible Other T H 1 H lease asset equipment Goodwill assets receivables Total E E Trade and other payables 876.3 14.9 891.2 R As at 31 December 2023 £m £m £m £m £m £m R INF INF United Kingdom 59.0 269.0 85.4 1,160.3 – 1,575.2 Capital and reserves OR The Americas 6.3 6.8 – 188.5 3.3 204.9 OR Retained Earnings (1,184.9) (49.0) (1,233.9) M Rest of Europe 1.7 77.6 – 143.4 2.0 223.2 M A A T Asia Pacific 3.4 0.3 – – – 3.7 T I I ON 70.4 353.7 85.4 1,492.2 5.3 2,007.0 ON As previously reported Adjustment Restated balance 1 January 2022 1 January 2022 1. Within Intangible assets located in Europe, £143.4m is located in Germany. Within Intangible assets located in the Americas, £188.5m is located in the United States of America. These assets Liabilities £m £m £m relate to the technology sharing agreements with Mercedes Benz AG and Lucid Group, Inc. respectively. Non-current liabilities Trade and other payables 9.8 34.1 43.9 Right-of-use Property, plant, Intangible Other 1 lease asset equipment Goodwill Assets receivables Total As at 31 December 2022 £m £m £m £m £m £m Current liabilities United Kingdom 60.7 301.6 85.4 1,155.8 – 1,603.5 Trade and other payables 721.0 14.9 735.9 The Americas 8.3 4.0 – – 4.3 16.6 Rest of Europe 0.1 64.3 – 153.4 2.0 219.8 Capital and reserves Asia Pacific 5.3 – – – – 5.3 Retained Earnings (662.4) (49.0) (711.4) 74.4 369.9 85.4 1,309.2 6.3 1,845.2 1. Within Intangible assets located in Europe, £153.4m is located in Germany. This asset relates to the technology sharing agreements with Mercedes Benz AG. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 157

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S 4 OPERATING LOSS TR The Group’s operating loss is stated after charging/(crediting): A TE 2023 2022 G I £m £m C Depreciation of property, plant and equipment (note 14) 91.2 80.7 R E P Depreciation absorbed into inventory under standard costing (0.9) (2.9) O R Loss on sale/scrap of property, plant and equipment 2.6 – T Depreciation of right-of-use lease assets (note 16) 9.3 11.0 Amortisation of intangible assets (note 12) 280.4 227.4 G Amortisation released from/(absorbed into) inventory under standard costing 3.0 (8.1) O VE Depreciation, amortisation and impairment charges included in administrative and other operating expenses 385.6 308.1 R NAN (Decrease)/increase in trade receivable loss allowance – administrative and other operating expenses (note 23) (1.3) 0.6 C Research and development expenditure tax credit (23.8) (18.4) E Net foreign currency differences 0.3 8.7 F Cost of inventories recognised as an expense 844.0 798.0 I Write-down of inventories to net realisable value 24.2 8.9 NAN C Increase in fair value of other derivative contracts (11.2) (2.3) IAL Lease payments (gross of sub-lease receipts) S Plant, machinery and IT equipment* 0.3 0.7 T A T Sub-lease receipts Land and buildings (0.4) (0.6) E M Auditor’s remuneration: E N T Audit of these Financial Statements 0.3 0.3 S Audit of Financial Statements of subsidiaries pursuant to legislation 0.5 0.4 Audit-related assurance 0.1 0.1 F U Services related to corporate finance transactions – 0.2 R T Research and development expenditure recognised as an expense 30.7 14.1 H E R * Election taken by the Group to not recognise right-of-use lease assets and equivalent lease liabilities for short-term and low-value leases. INF 2023 2022 OR £m £m M A Total research and development expenditure 299.2 246.1 T I Capitalised research and development expenditure (note 12) (268.5) (232.0) ON Research and development expenditure recognised as an expense 30.7 14.1 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 158

NOTES TO THE FINANCIAL STATEMENTS CONTINUED S S 4 OPERATING LOSS TR 5 ADJUSTING ITEMS TR The Group’s operating loss is stated after charging/(crediting): A 2023 2022 A TE £m £m TE 2023 2022 G Adjusting operating expenses: G I I £m £m C C R 1 R Depreciation of property, plant and equipment (note 14) 91.2 80.7 ERP implementation costs (14.5) (6.9) E 2 E P Defined Benefit pension scheme closure costs (1.0) (13.5) P Depreciation absorbed into inventory under standard costing (0.9) (2.9) O O R 7 R Loss on sale/scrap of property, plant and equipment 2.6 – TDirector settlement and incentive arrangements – (3.5) T 3 Depreciation of right-of-use lease assets (note 16) 9.3 11.0 Legal settlement and costs (16.0) – Amortisation of intangible assets (note 12) 280.4 227.4 G G Amortisation released from/(absorbed into) inventory under standard costing 3.0 (8.1) O (31.5) (23.9) O VE Adjusting finance income: VE Depreciation, amortisation and impairment charges included in administrative and other operating expenses 385.6 308.1 R R NAN 4 NAN Foreign exchange gain on financial instrument utilised during refinance transactions – 4.1 5 Gain on financial instruments recognised at fair value through Income Statement – 8.4 (Decrease)/increase in trade receivable loss allowance – administrative and other operating expenses (note 23) (1.3) 0.6 C C Research and development expenditure tax credit (23.8) (18.4) EAdjusting finance expenses: E 4 Net foreign currency differences 0.3 8.7 Premium paid on the early redemption of Senior Secured Notes (8.0) (14.3) 4 F Write-off of capitalised borrowing fees and discount upon early settlement of Senior Secured Notes (9.5) (16.4) F Cost of inventories recognised as an expense 844.0 798.0 I I NAN 4 NAN Write-down of inventories to net realisable value 24.2 8.9 Professional fees incurred on refinancing expensed directly to the Income Statement – (1.9) C 5 C Loss on financial instruments recognised at fair value through Income Statement (19.0) – Increase in fair value of other derivative contracts (11.2) (2.3) IAL (36.5) (20.1) IAL Lease payments (gross of sub-lease receipts) S S Plant, machinery and IT equipment* 0.3 0.7 TTotal adjusting items before tax (68.0) (44.0) T A A T 6 T Tax charge on adjusting items – – Sub-lease receipts Land and buildings (0.4) (0.6) E E M M Auditor’s remuneration: EAdjusting items after tax (68.0) (44.0) E N N T Summary of 2023 adjusting items T Audit of these Financial Statements 0.3 0.3 S1. In the year ended 31 December 2023, the Group incurred further implementation costs for a cloud-based Enterprise Resource Planning (ERP) system for which the Group will not own any S Audit of Financial Statements of subsidiaries pursuant to legislation 0.5 0.4 intellectual property. £14.5m (2022: £6.9m) of costs have been incurred in the period under the service contract and expensed to the Consolidated Income Statement during the business Audit-related assurance 0.1 0.1 readiness phase of the project. The project continued to undergo a phased rollout during 2023, which included HR, ordering and dealer management, and limited aspects of purchasing, F following the previous migration of finance in 2022. Due to the infrequent recurrence of such costs and the expected quantum during the implementation phase, these have been separately F U presented as adjusting. The cash impact of this item is a working capital outflow at the time of invoice payment. U Services related to corporate finance transactions – 0.2 R2. On 31 January 2022, the Group closed its Defined Benefit Pension Scheme to future accrual incurring a past service cost of £2.8m. Under the terms of the closure agreement, employees were R T T Research and development expenditure recognised as an expense 30.7 14.1 Hgranted cash payments both in the current year and the following two financial years totalling £8.7m. These costs have been fully accrued. In addition, the affected employees were each H E granted 185 shares incurring a share-based payment charge of £1.0m during 2022. The terms of the agreement provide the employees with a minimum guaranteed value for these shares E R R * Election taken by the Group to not recognise right-of-use lease assets and equivalent lease liabilities for short-term and low-value leases. INFsubject to their ongoing employment with the Group. The Group will pay the employees a further cash sum as the share price at 1 February 2024 did not meet this value. The charge associated INF with this portion was £1.0m in the year ended 31 December 2022 and is being accounted for in accordance with IFRS2 as a cash settled share-based payment scheme. A cost of £1.0m in the year ended 31 December 2023 relates to the ongoing minimum guaranteed value which will crystallise in early 2024. 2023 2022 OR 3. During the year ended 31 December 2023, the Group was involved in two High Court cases against entities ultimately owned by a former significant shareholder of the Group. The first OR involved AMMENA, Aston Martin’s distributor in the Middle East, North Africa and Turkey region. AMMENA brought a number of claims against the Group, including claims for debts arising £m £m M between 2019-2021 when Aston Martin was acting as AMMENA’s agent and several claims that the Group had acted in bad faith when AMMENA resumed its obligations as distributor. The M A Group successfully defended all the bad faith claims and AMMENA’s 2021 debt claim was dismissed. Aston Martin, however, was unsuccessful in its claim to set off its own counter-claim that A Total research and development expenditure 299.2 246.1 T T I AMMENA (as the region’s distributor) should indemnify the Group in relation to costs incurred in the termination of a retail dealer, so is required to pay AMMENA’s debt claims for 2019 and I Capitalised research and development expenditure (note 12) (268.5) (232.0) ON2020 (totalling £5.3m plus interest of £0.6m). The Group incurred costs of £5.7m in defending AMMENA’s claims and must pay opposition costs of £1.7m. The cash impact of these costs is a ON Research and development expenditure recognised as an expense 30.7 14.1 cash outflow in February 2024 as well as working capital movements during the year ended 31 December 2023 for costs already incurred. The second case involves claims against a retail dealership, which is ultimately owned by entities that are shareholders in one of the Group’s subsidiary entities, including for unpaid debts relating to two agreements from 2015 and 2016. The final judgement has been handed down (and is in AML’s favour on all material issues), but the consequences of that judgement (including quantification of the final judgment sum, interest, and costs) has not yet been determined or ordered by the Court. The Group has incurred costs of £2.7m in the year which in conjunction with the other costs above are considered non-recurring in nature as these are related to historic disputes with former shareholders and not related to the ongoing business of the Group. Whilst disputes and legal proceedings pending are often in the normal course of the Group’s business, in both these cases the opposing party has links to companies that were former significant shareholders of the Group. On that basis the Group has classified these costs as non-recurring in nature. 4. During the year ended 31 December 2023, the Group repaid $121.7m of Second Lien Senior Secured Notes (“SSNs”). In repaying the notes prior to their redemption date, a redemption premium of £8.0m was incurred, of which the cash impact was incurred in the year ended 31 December 2023. Accelerated amortisation of capitalised borrowing costs and discount of £10.1m was recognised which is a non-cash item. In the year ended 31 December 2022, the Group paid down $40.3m of First Lien SSNs and $143.8m of Second Lien SSNs. The early settlement of these notes incurred a redemption premium of £14.3m and transaction fees of £1.9m and resulted in the acceleration of capitalised borrowing costs of £16.4m. The cash impact of the fees and premium are incurred within the year ended 31 December 2022. The acceleration of the borrowing costs is a non-cash item. In order to facilitate the repayment in of the SSNs in 2022, the Group placed a forward currency contract to purchase US dollars. Due to favourable movements in the exchange rates, a gain of £4.1m was realised in the Consolidated Income Statement at the transaction date. The repayment made in 2023 was not hedged. 5. The Group issued Second Lien SSNs during the year ended 31 December 2020 which included detachable warrants classified as a derivative option liability initially valued at £34.6m. The movement in fair value of the liability in the year ended 31 December 2023 resulted in a net loss, including warrant exercises, of £19.0m (2022: gain of £8.4m) being recognised in the Consolidated Income Statement. There is no cash impact of this adjustment. 6. In 2023, nil tax has been recognised as an adjusting item (2022: nil tax) which is not in line with the standard rate of income tax for the Group of 23.5% (2022: 19%). This is on the basis that the adjusting items generate net deferred tax assets (specifically unused tax losses and interest amounts disallowed under the corporate interest restriction legislation). These have not been recognised to the extent that sufficient taxable profits are not forecast (under the defined planning cycle applied for the recognition of deferred tax assets) against which the unused tax losses and interest amounts disallowed under the corporate interest restriction legislation would be utilised. Summary of 2022 adjusting items 7. On 14 January 2022, it was announced that Doug Lafferty would be joining the Group as Chief Financial Officer replacing Ken Gregor who stepped down from the Board on 1 May 2022. On 4 May, it was announced that Tobias Moers would be stepping down as Chief Executive Officer and Chief Technical Officer. Amedeo Felisa was appointed as Chief Executive Officer and Roberto Fedeli was appointed as Chief Technical Officer on the same day. The total cost associated with these changes was £3.5m, of which £1.8m represents joining incentives, £0.7m represents severance (note 6), and £1.0m comprises social security and other costs. Due to the quantum of such costs incurred in the period, they have been separately presented. The cash outflows associated with this expense are expected to be incurred within a period of 12 months from the appointment of each individual. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 159

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S 6 STAFF COSTS AND DIRECTORS’ EMOLUMENTS TR (a) Staff costs (including Directors) A 2023 2022 TE £m £m G I C Wages and salaries 188.0 139.4 R E Social security costs 19.4 16.4 P 1 O Expenses related to post-employment Defined Benefit plan – 16.0 R Contributions to Defined Contribution plans 20.9 17.6 T 228.3 189.4 G 1. The year ended 31 December 2022 includes Defined Benefit plan closure costs of £12.5m as separately described in note 5 alongside the total in-year service costs of £3.5m separately O disclosed in note 26. VE R The average monthly number of employees during the year were: NAN 2023 2022 C By activity Number Number E Production 1,238 1,123 Selling and distribution 342 276 F I Administration 1,160 1,138 NAN 2,740 2,537 C IAL S (b) Directors’ emoluments and transactions T 2023 2022 A £m £m T E M Directors’ emoluments 4.4 3.1 E N Company contributions to pension schemes 0.1 0.1 T Share related awards – 0.8 S Compensation for loss of office – 0.7 F 4.5 4.7 U R T H E All Directors benefited from qualifying third-party indemnity provisions. Further information relating to Directors’ remuneration is set out in the Directors’ R Remuneration Report on pages 108-122. INF (c) Compensation of key management personnel (including Executive Directors) OR 2023 2022 M £m £m A T I Short-term employee benefits 11.0 5.6 ON Post-employment benefits 0.5 0.4 Compensation for loss of office – 0.7 Share related awards 0.2 0.8 11.7 7.5 7 FINANCE INCOME 2023 2022 £m £m Bank deposit and other interest income 13.5 3.0 Foreign exchange gain on borrowings not designated as part of a hedging relationship 60.8 – Finance income before adjusting items 74.3 3.0 Adjusting finance income items: Foreign exchange gain on financial instrument utilised during refinance transactions – 4.1 Gain on financial instruments recognised at fair value through Income Statement (note 23) – 8.4 Total adjusting finance income – 12.5 Total finance income 74.3 15.5 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 160

NOTES TO THE FINANCIAL STATEMENTS CONTINUED S S 6 STAFF COSTS AND DIRECTORS’ EMOLUMENTS TR8 FINANCE EXPENSE TR (a) Staff costs (including Directors) A 2023 2022 A 2023 2022 TE £m £m TE £m £m G Bank loans, overdrafts and senior secured notes 151.3 166.0 G I I C C Wages and salaries 188.0 139.4 RForeign exchange loss on borrowings not designated as part of a hedging relationship – 156.2 R E E Social security costs 19.4 16.4 PInterest on lease liabilities (note 16) 4.1 4.5 P 1O O Expenses related to post-employment Defined Benefit plan – 16.0 RNet interest expense on the net Defined Benefit liability (note 26) 2.7 1.4 R Contributions to Defined Contribution plans 20.9 17.6 TInterest on contract liabilities held (note 21) 7.7 8.0 T 228.3 189.4 Effect of discounting on long-term liabilities 0.6 – G G 1. The year ended 31 December 2022 includes Defined Benefit plan closure costs of £12.5m as separately described in note 5 alongside the total in-year service costs of £3.5m separately OFinance expense before adjusting items 166.4 336.1 O disclosed in note 26. VEAdjusting finance expense items: VE R R The average monthly number of employees during the year were: NANLoss on financial instruments recognised at fair value through Income Statement (note 23) 19.0 – NAN Premium paid on the early redemption of Senior Secured Notes 8.0 14.3 2023 2022 C C By activity Number Number EWrite-off of capitalised borrowing fees upon early settlement of Senior Secured Notes 9.5 16.4 E Production 1,238 1,123 Professional fees incurred on refinancing expensed directly to the Income Statement – 1.9 Selling and distribution 342 276 FTotal adjusting finance expense 36.5 32.6 F I I Administration 1,160 1,138 NANTotal finance expense 202.9 368.7 NAN 2,740 2,537 C C IAL 9 TAXATION IAL S 2023 2022 S (b) Directors’ emoluments and transactions T £m £m T 2023 2022 A A £m £m T T E UK corporation tax on result 0.3 0.2 E M M Directors’ emoluments 4.4 3.1 EOverseas tax 1.7 7.4 E N N Company contributions to pension schemes 0.1 0.1 TPrior period movement (0.1) – T Share related awards – 0.8 STotal current income tax charge 1.9 7.6 S Compensation for loss of office – 0.7 F F 4.5 4.7 U U R Deferred tax credit R T T H Origination and reversal of temporary differences (15.1) 29.4 H E E All Directors benefited from qualifying third-party indemnity provisions. Further information relating to Directors’ remuneration is set out in the Directors’ R R Remuneration Report on pages 108-122. INFPrior period movement 0.2 (4.3) INF Total deferred tax (credit)/charge (14.9) 25.1 (c) Compensation of key management personnel (including Executive Directors) ORTotal income tax (credit)/charge in the Income Statement (13.0) 32.7 OR 2023 2022 M M £m £m A A T T I I Short-term employee benefits 11.0 5.6 ONTax relating to items (charged)/credited to other comprehensive income ON Post-employment benefits 0.5 0.4 Deferred tax Compensation for loss of office – 0.7 Actuarial movement on Defined Benefit plan – 1.7 Share related awards 0.2 0.8 Fair value adjustment on cash flow hedges (1.2) (0.8) 11.7 7.5 (1.2) 0.9 7 FINANCE INCOME Tax relating to items charged in equity – deferred tax 2023 2022 Effect of equity settled share based payment charge (0.5) – £m £m Bank deposit and other interest income 13.5 3.0 Foreign exchange gain on borrowings not designated as part of a hedging relationship 60.8 – Finance income before adjusting items 74.3 3.0 Adjusting finance income items: Foreign exchange gain on financial instrument utilised during refinance transactions – 4.1 Gain on financial instruments recognised at fair value through Income Statement (note 23) – 8.4 Total adjusting finance income – 12.5 Total finance income 74.3 15.5 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 161

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S 9 TAXATION CONTINUED TR (a) Reconciliation of the total income tax (credit)/charge A The tax credit (2022: charge) in the Consolidated Statement of Comprehensive Income for the year is lower (2022: higher) than the standard rate of TE G I corporation tax in the UK of 23.5% (2022: 19%). The differences are reconciled below: C R 2023 2022 E £m £m P O Loss from operations before taxation (239.8) (495.0) R Loss from operations before taxation multiplied by standard rate of corporation tax in the UK of 23.5% (2022: 19.0%) (56.3) (94.0) T Difference to total income tax (credit)/charge due to effects of: G Expenses not deductible for tax purposes 1.2 2.0 O Movement in unprovided deferred tax 43.4 100.3 VE R Derecognition of deferred tax assets – 25.6 NAN Irrecoverable overseas withholding taxes – 0.8 C Adjustments in respect of prior periods 0.1 (4.3) E Difference in UK tax rates (0.7) 1.1 Difference in overseas tax rates 0.2 1.2 F I Other (0.9) – NAN Total income tax (credit)/charge (13.0) 32.7 C IAL S (b) Tax paid T A Total net tax paid during the year was £5.6m (2022: £6.8m). T E M (c) Factors affecting future tax charges E N The UK’s main rate of corporation tax increased from 19% to 25%, effective from 1 April 2023. T S Pillar Two legislation has been enacted or substantively enacted in certain jurisdictions in which the Group operates. The legislation will be effective for the Group's financial year beginning 1 January 2024. The Group has performed an assessment of the Group's potential exposure to Pillar Two income taxes. F The assessment of the potential exposure to Pillar Two income taxes is based on the most recent tax filings, country-by-country reporting and financial U R statements for the constituent entities in the Group. Based on the assessment, the Pillar Two Transitional Safe Harbour provisions are expected to apply in T H each jurisdiction the Group operates in, and management is not aware of any circumstance under which this might change. Therefore, the Group does not E R expect a potential exposure to Pillar Two top-up taxes. The Group has applied the exception in IAS 12 ’Income Taxes’ to recognising and disclosing INF information about deferred tax assets and liabilities related to Pillar Two income taxes. OR (d) Deferred tax M A Recognised deferred tax assets and liabilities. T I Deferred tax assets and liabilities are attributable to the following: ON Assets Assets Liabilities Liabilities 2023 2022 2023 2022 £m £m £m £m Property, plant and equipment (108.5) (76.2) – – Intangible assets – – 182.9 181.3 Employee benefits (12.7) (15.5) – – Provisions (10.4) (8.4) – – 1 RDEC credit (23.5) (16.1) – – 2 RDEC deferred income (13.8) – – 3 Losses and other deductions (168.3) (198.6) – – Share-based payments (2.0) (0.2) – – Other – – – 0.7 Deferred tax (assets)/liabilities (339.2) (315.0) 182.9 182.0 Offset of tax liabilities/(assets) 182.9 181.3 (182.9) (181.3) Total deferred tax (assets)/liabilities (156.3) (133.7) – 0.7 1 Deferred tax assets categorised as ‘RDEC credit’ relate to the cumulative restricted amount of the payable tax credits which can be applied or surrendered in discharging any future corporation tax liability of the claimant company, as detailed in the Government Grants section of the Accounting Policies (Note 2). 2 Deferred tax assets categorised as ‘RDEC deferred income’ relate to expenditure deferred to the Consolidated Statement of Financial position which has previously been included within filed RDEC claims and subject to corporation tax. Any future release of the RDEC deferred income to the Consolidated Income Statement will not be subject to corporation tax for a second time. 3 Deferred tax assets categorised as ‘Losses and other deductions’ relate to tax losses and tax interest amounts disallowed under the corporate interest restriction legislation. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 162

NOTES TO THE FINANCIAL STATEMENTS CONTINUED S S 9 TAXATION CONTINUED TR 9 Taxation continued TR (a) Reconciliation of the total income tax (credit)/charge A(d) Deferred tax continued A The tax credit (2022: charge) in the Consolidated Statement of Comprehensive Income for the year is lower (2022: higher) than the standard rate of TEWhere the right exists in certain jurisdictions, deferred tax assets and liabilities have been offset. TE G G I I corporation tax in the UK of 23.5% (2022: 19%). The differences are reconciled below: C C R Net tax R recognised Net tax Net tax 2023 2022 E 1 January in Income recognised recognised in Other 31 December E £m £m P P O 2023 Statement in OCI equity movement 2023 O Loss from operations before taxation (239.8) (495.0) RMovement in deferred tax in 2023 £m £m £m £m £m £m R Loss from operations before taxation multiplied by standard rate of corporation tax in the UK of 23.5% (2022: 19.0%) (56.3) (94.0) TProperty, plant and equipment (76.2) (32.4) – – – (108.5) T Difference to total income tax (credit)/charge due to effects of: Intangible assets 181.3 1.6 – – – 182.9 G G Expenses not deductible for tax purposes 1.2 2.0 OEmployee benefits (15.5) 2.8 – – – (12.7) O Movement in unprovided deferred tax 43.4 100.3 VEProvisions (8.4) (1.4) (1.2) – 0.6 (10.4) VE R R Derecognition of deferred tax assets – 25.6 NANRDEC credit (16.1) – – – (7.4) (23.5) NAN Irrecoverable overseas withholding taxes – 0.8 RDEC deferred income – (13.8) – – – (13.8) C C Adjustments in respect of prior periods 0.1 (4.3) ELosses and other deductions (198.6) 30.2 – – 0.1 (168.3) E Difference in UK tax rates (0.7) 1.1 Share-based payments (0.2) (1.2) – (0.5) – (2.0) Other 0.7 (0.7) – – – – Difference in overseas tax rates 0.2 1.2 F F I I Other (0.9) – NAN (133.0) (14.9) (1.2) (0.5) (6.7) (156.3) NAN Total income tax (credit)/charge (13.0) 32.7 C C IAL Net tax IAL S recognised Net tax Net tax S (b) Tax paid T 1 January in Income recognised recognised in Other 31 December T A 2022 Statement in OCI equity movement 2022 A Total net tax paid during the year was £5.6m (2022: £6.8m). T T E Movement in deferred tax in 2022 £m £m £m £m £m £m E M M (c) Factors affecting future tax charges E E Property, plant and equipment (111.1) 34.9 – – – (76.2) N N The UK’s main rate of corporation tax increased from 19% to 25%, effective from 1 April 2023. TIntangible assets 186.8 (5.5) – – – 181.3 T S Employee benefits (19.9) 2.7 1.7 – – (15.5) S Pillar Two legislation has been enacted or substantively enacted in certain jurisdictions in which the Group operates. The legislation will be effective for the Group's financial year beginning 1 January 2024. The Group has performed an assessment of the Group's potential exposure to Pillar Two income taxes. Provisions (6.3) (0.9) (1.2) – – (8.4) F F The assessment of the potential exposure to Pillar Two income taxes is based on the most recent tax filings, country-by-country reporting and financial URDEC credit (12.6) – – – (3.5) (16.1) U R R statements for the constituent entities in the Group. Based on the assessment, the Pillar Two Transitional Safe Harbour provisions are expected to apply in T T H Losses and other deductions (192.6) (6.4) 0.4 – – (198.6) H each jurisdiction the Group operates in, and management is not aware of any circumstance under which this might change. Therefore, the Group does not E E R R expect a potential exposure to Pillar Two top-up taxes. The Group has applied the exception in IAS 12 ’Income Taxes’ to recognising and disclosing INFShare-based payments (0.7) 0.5 – – – (0.2) INF information about deferred tax assets and liabilities related to Pillar Two income taxes. Other 0.8 (0.1) – – – 0.7 OR OR (155.6) 25.2 0.9 – (3.5) (133.0) (d) Deferred tax M M A A Recognised deferred tax assets and liabilities. T T I I ON The losses and other deductions of £168.3m (£673.8m gross) comprises of UK tax losses totalling £117.3m (£469.2m gross), China tax losses totalling ON Deferred tax assets and liabilities are attributable to the following: £1.9m (£8.3m gross) and disallowed interest amounts of £49.1m (£196.3m gross). Assets Assets Liabilities Liabilities Net deferred tax assets have been recognised to the extent that it is considered probable that future taxable profits will be available against which the 2023 2022 2023 2022 deductible temporary differences or unused tax losses or credits can be recovered or utilised. In evaluating the level of probable future taxable profits £m £m £m £m Property, plant and equipment (108.5) (76.2) – – the Group reviews the same underlying assumptions and future forecasts used for impairment testing, going concern and viability assessments. Intangible assets – – 182.9 181.3 Given the recent history of accumulating tax losses, the Group has evaluated whether there is convincing other evidence that sufficient taxable profit will be Employee benefits (12.7) (15.5) – – available in determining the supportable level of net deferred tax assets which have been recognised at the reporting date. The significant progress made Provisions (10.4) (8.4) – – both strategically and financially in the past couple of years provides convincing evidence that the current business plan, as set out by the Executive team, 1 will start generating the forecast taxable profits in the UK in the short term in order to support the recognition of deferred tax assets. RDEC credit (23.5) (16.1) – – 2 The future forecasts cover an extended period, which inherently increases the level of significant estimation uncertainty in the later periods. Specifically in RDEC deferred income (13.8) – – 3 this context, for the deferred tax assets held by the main UK trading entity, a defined look-out period for Internal Combustion Engine (‘ICE’) and Plug-In Losses and other deductions (168.3) (198.6) – – Share-based payments (2.0) (0.2) – – Hybrid Vehicle (‘PHEV’) to 31 December 2030 was selected on the basis that this timeframe correlates to existing vehicle life cycles. A longer defined-look Other – – – 0.7 out period of two vehicle life cycles was selected for the recognition of UK tax losses carried forward by the non-trading entities. The extended look out period is considered appropriate on the basis that the utilisation of these UK tax losses is only reliant on a relatively low level of future forecast profits Deferred tax (assets)/liabilities (339.2) (315.0) 182.9 182.0 generated by the Group beyond 2030. The Group has gross deferred tax assets unrecognised at the reporting date totalling £1,253.0m comprised of Offset of tax liabilities/(assets) 182.9 181.3 (182.9) (181.3) £541.2m tax losses, £196.8m accelerated capital allowances, £8.1m US provisions and £506.9m of disallowed tax interest amounts. Total deferred tax (assets)/liabilities (156.3) (133.7) – 0.7 The aggregate amount of temporary differences associated with investments in subsidiaries and branches for which deferred tax liabilities have not been 1 Deferred tax assets categorised as ‘RDEC credit’ relate to the cumulative restricted amount of the payable tax credits which can be applied or surrendered in discharging any future corporation recognised is £1.5m for the financial year ended 31 December 2023 (2022: £38.4m). An increase/decrease of £50m in forecast taxable UK profits by 2030 tax liability of the claimant company, as detailed in the Government Grants section of the Accounting Policies (Note 2). would increase/decrease the level of deferred tax asset that would be recognised on losses by £6.3m under current UK tax legislation. 2 Deferred tax assets categorised as ‘RDEC deferred income’ relate to expenditure deferred to the Consolidated Statement of Financial position which has previously been included within filed RDEC claims and subject to corporation tax. Any future release of the RDEC deferred income to the Consolidated Income Statement will not be subject to corporation tax for a second time. 3 Deferred tax assets categorised as ‘Losses and other deductions’ relate to tax losses and tax interest amounts disallowed under the corporate interest restriction legislation. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 163

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S 10 DIVIDENDS TR No dividends were declared or paid by the Company in the year ended 31 December 2023 (2022: £nil). A TE 11 EARNINGS PER ORDINARY SHARE G I C Basic earnings per ordinary share is calculated by dividing the loss for the year available for equity holders by the weighted average number of ordinary R shares in issue during the year. 1,017,505 ordinary shares were issued under the Group’s share investment plan (note 29). As these shares are held in trust on E P behalf of the Group’s employees and the Group controls the trust they have been excluded from the calculation of the weighted average number of shares. O R T Continuing and total operations 2023 2022 G Basic earnings per ordinary share O Loss available for equity holders (£m) (228.1) (528.6) VE R Basic weighted average number of ordinary shares (million) 748.2 424.7 NAN Basic loss per ordinary share (pence) (30.5p) (124.5p) C E Diluted earnings per ordinary share is calculated by adjusting basic earnings per ordinary share to reflect the notional exercise of the weighted average number of dilutive ordinary share awards outstanding during the year, including the future technology shares and warrants detailed above. The weighted F I average number of dilutive ordinary share awards outstanding during the year are excluded when including them would be anti-dilutive to the earnings per NAN share value. C Continuing and total operations 2023 2022 IAL Diluted earnings per ordinary share S T Loss available for equity holders (£m) (228.1) (528.6) A T E Basic weighted average number of ordinary shares (million) 748.2 424.7 M E Basic loss per ordinary share (pence) (30.5p) (124.5p) N T S 2023 2022 Number Number F U Diluted weighted average number of ordinary shares is calculated as: R T Basic weighted average number of ordinary shares (million) 748.2 424.7 H E 1 R Adjustments for calculation of diluted earnings per share: INF Long-term incentive plans – – Issue of unexercised ordinary share warrants – – OR M Issue of tranche 2 shares – – A T I Weighted average number of diluted ordinary shares (million) 748.2 424.7 ON 1 The number of ordinary shares issued as part of the long-term incentive plans and the potential number of ordinary shares issued as part of the 2020 issue of share warrants have been excluded from the weighted average number of diluted ordinary shares, as including them is anti-dilutive to diluted earnings per share. As part of the Strategic Cooperation Agreement entered into in December 2020 with MBAG, shares were issued for access to tranche 1 technology. The Agreement includes an obligation to issue further shares for access to further technology in a future period (note 30). During the year ended 31 December 2023, the agreement was amended and the Group is no longer required to issue further shares to MBAG. Warrants to acquire shares in the Company were issued alongside the Second Lien SSNs in December 2020 which can be exercised from 1 July 2021 through to 7 December 2027. As a consequence of the rights issue during the period ended 31 December 2022 (note 27) the number of ordinary shares issuable via the options was increased by a multiple of 6 to ensure the warrant holders’ interests were not diluted. As at 31 December 2023, 66,159,325 options, each entitled to 0.3 ordinary shares, remain unexercised. The future issuance of warrants may have a dilutive effect in future periods if the Group generates a profit. Adjusted earnings per share is disclosed in note 34 to show performance undistorted by adjusting items to assist in providing useful information on the underlying performance of the Group and enhance the comparability of information between reporting periods. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 164

NOTES TO THE FINANCIAL STATEMENTS CONTINUED S S 10 DIVIDENDS TR 12 INTANGIBLE ASSETS TR No dividends were declared or paid by the Company in the year ended 31 December 2023 (2022: £nil). A Capitalised Dealer Software A TE Goodwill Brands Technology development cost network and other Total TE 11 EARNINGS PER ORDINARY SHARE G £m £m £m £m £m £m £m G I I C C Cost Basic earnings per ordinary share is calculated by dividing the loss for the year available for equity holders by the weighted average number of ordinary R R shares in issue during the year. 1,017,505 ordinary shares were issued under the Group’s share investment plan (note 29). As these shares are held in trust on EBalance at 1 January 2022 85.4 297.6 163.5 1,613.9 15.4 67.1 2,242.9 E P P behalf of the Group’s employees and the Group controls the trust they have been excluded from the calculation of the weighted average number of shares. O O Additions – – – 232.0 – 5.9 237.9 R R T Balance at 31 December 2022 85.4 297.6 163.5 1,845.9 15.4 73.0 2,480.8 T Continuing and total operations 2023 2022 G Balance at 1 January 2023 85.4 297.6 163.5 1,845.9 15.4 73.0 2,480.8 G Basic earnings per ordinary share O O VE VE Loss available for equity holders (£m) (228.1) (528.6) Additions – – 188.5 268.5 – 6.4 463.4 R Balance at 31 December 2023 85.4 297.6 352.0 2,114.4 15.4 79.4 2,944.2 R Basic weighted average number of ordinary shares (million) 748.2 424.7 NAN NAN Basic loss per ordinary share (pence) (30.5p) (124.5p) C C Amortisation E Balance at 1 January 2022 – – 9.9 780.6 10.8 57.5 858.8 E Diluted earnings per ordinary share is calculated by adjusting basic earnings per ordinary share to reflect the notional exercise of the weighted average number of dilutive ordinary share awards outstanding during the year, including the future technology shares and warrants detailed above. The weighted Charge for the year – – 1.9 221.4 0.8 3.3 227.4 F F I I average number of dilutive ordinary share awards outstanding during the year are excluded when including them would be anti-dilutive to the earnings per NANBalance at 31 December 2022 – – 11.8 1,002.0 11.6 60.8 1,086.2 NAN share value. C C Continuing and total operations 2023 2022 IALBalance at 1 January 2023 – – 11.8 1,002.0 11.6 60.8 1,086.2 IAL Diluted earnings per ordinary share S S Charge for the year – – 9.8 264.0 0.7 5.9 280.4 T T Loss available for equity holders (£m) (228.1) (528.6) ABalance at 31 December 2023 – – 21.7 1,266.0 12.3 66.7 1,366.7 A T T E E Basic weighted average number of ordinary shares (million) 748.2 424.7 M M E E Basic loss per ordinary share (pence) (30.5p) (124.5p) N N Net book value T T S At 1 January 2022 85.4 297.6 153.6 833.3 4.6 9.6 1,384.1 S 2023 2022 At 31 December 2022 85.4 297.6 151.7 843.9 3.8 12.2 1,394.6 Number Number F At 1 January 2023 85.4 297.6 151.7 843.9 3.8 12.2 1,394.6 F U U Diluted weighted average number of ordinary shares is calculated as: R R T At 31 December 2023 85.4 297.6 330.4 848.4 3.1 12.7 1,577.6 T Basic weighted average number of ordinary shares (million) 748.2 424.7 H H E E 1R R Adjustments for calculation of diluted earnings per share: INFOn 7 December 2020, the Company issued 224,657,287 shares to MBAG as consideration for access to the first tranche of powertrain and electronic INF Long-term incentive plans – – architecture via a Strategic Cooperation Agreement. The Group was required to undertake a valuation exercise to measure the fair value of the access to the Issue of unexercised ordinary share warrants – – ORMBAG technology upon its initial capitalisation. The Group selected the ‘With and Without’ income approach which compares the net present value of cash OR M M Issue of tranche 2 shares – – Aflows from the Group’s business plan prior to (‘Without’) and after (‘With’) the access to the technology. This methodology estimates the present value of A T T I the net benefit associated with acquiring the access to the technology. In the Group’s assessment, the fair value of access to this technology is £142.3m. I Weighted average number of diluted ordinary shares (million) 748.2 424.7 ONThe £142.3m represents the assumed cost at acquisition from which point the cost model has been adopted. Amortisation commenced during the year ON 1 The number of ordinary shares issued as part of the long-term incentive plans and the potential number of ordinary shares issued as part of the 2020 issue of share warrants have been ended 31 December 2023 and the carrying value of the technology asset is £134.2m. excluded from the weighted average number of diluted ordinary shares, as including them is anti-dilutive to diluted earnings per share. As part of the Strategic Cooperation Agreement entered into in December 2020 with MBAG, shares were issued for access to tranche 1 technology. On 26 June 2023, the Aston Martin Lagonda Global Holdings plc confirmed a strategic supply arrangement with Lucid Group, Inc. (“Lucid”) providing the The Agreement includes an obligation to issue further shares for access to further technology in a future period (note 30). During the year ended Group with access to select powertrain components for future BEV vehicles (collectively the “technology”). The consideration paid by the Group was a 31 December 2023, the agreement was amended and the Group is no longer required to issue further shares to MBAG. mixture of cash and 28,352,273 newly issued shares in Aston Martin Lagonda Global Holdings plc. The Group was required to undertake a valuation exercise to measure the fair value of the access to the Lucid technology upon its initial capitalisation. The Group selected the ‘With and Without’ income approach Warrants to acquire shares in the Company were issued alongside the Second Lien SSNs in December 2020 which can be exercised from 1 July 2021 through which compares the net present value of cash flows from the Group’s business plan prior to (‘Without’) and after (‘With’) the access to the technology. This to 7 December 2027. As a consequence of the rights issue during the period ended 31 December 2022 (note 27) the number of ordinary shares issuable via the methodology estimates the present value of the net benefit associated with acquiring the access to the technology. In the Group’s assessment, the fair value options was increased by a multiple of 6 to ensure the warrant holders’ interests were not diluted. As at 31 December 2023, 66,159,325 options, each entitled to of access to this technology is £188.5m. The £188.5m represents the assumed cost at acquisition from which point the cost model has been adopted. 0.3 ordinary shares, remain unexercised. The future issuance of warrants may have a dilutive effect in future periods if the Group generates a profit. Amortisation is aligned to when the asset is available for use – i.e. when it is in the location and condition necessary for it to be capable of operating in the Adjusted earnings per share is disclosed in note 34 to show performance undistorted by adjusting items to assist in providing useful information on the manner intended by management. underlying performance of the Group and enhance the comparability of information between reporting periods. Amortisation of capitalised development costs commences when the programme to which the expenditure relates is available for use. As at 31 December 2023, £253.2m (2022: £259.4m) of capitalised development costs were not yet within the scope of amortisation. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 165

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S 13 IMPAIRMENT TESTING TR Indefinite useful life non-current assets A Goodwill and brands acquired through business combinations have been allocated for impairment testing purposes to one cash-generating unit – the Aston TE G I Martin Lagonda Group business. This represents the lowest level within the Group at which goodwill and brands are monitored for internal purposes. C The Group has considered the carrying value of its assets in the context of the Group’s market capitalisation. At this level, it was concluded that the net R E assets of the Group are recoverable owing to the Group’s market capitalisation of £1.9bn at 31 December 2023. P O R Finite useful life non-current assets T Recoverability of non-current assets with finite useful lives include property, plant and equipment, right-of-use lease assets and certain intangible assets. Intangible assets with finite useful lives mainly consist of capitalised development costs and technology. G O The Group reviews the carrying amount of non-current assets with finite useful lives when events and circumstances indicate that an asset may be impaired. VE Impairment tests are performed by comparing the carrying amount and the recoverable amount of the assets. The recoverable amount is the higher of the R assets’ fair value less costs of disposal and its value-in-use. Where non-current assets with finite useful lives are not yet available for use, these are tested for NAN impairment annually. C In assessing the value-in-use, the estimated future cash flows relating to the forecast usage period of the asset, or group of assets, are discounted to their E present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks. F I Key assumptions used in value-in-use calculations NAN Where there are indicators of impairment, the calculation of value-in-use for the assets is most sensitive to the following assumptions: C – Cash flows are projected based on actual operating results and the current five-year plan. IAL – Discount rates are calculated using a weighted average cost of capital approach. They reflect the individual nature and specific risks relating to the S T business and the market in which the Group operates. The pre-tax discount rate used was 14.0% (2022: 14.0%). A T – A long-term growth rate of 2% (2022: 2%) E M E Sensitivity analysis N T – As at 31 December 2023, the gross margin would need to decrease by 36% before any of the finite life assets become impaired. S The Group has considered the carrying value of its assets in conjunction with the trading and cash flow forecasts for the Group including factors related to the Group’s ongoing climate commitments (see note 1). The Group is satisfied no impairment is required at 31 December 2023. No reasonably possible F U change in an assumption could result in a material impact on the impairment assessment in the next twelve months. R T H E R INF OR M A T I ON ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 166

NOTES TO THE FINANCIAL STATEMENTS CONTINUED S S 13 IMPAIRMENT TESTING TR14 PROPERTY, PLANT AND EQUIPMENT TR Indefinite useful life non-current assets A Freehold Plant, machinery, A Goodwill and brands acquired through business combinations have been allocated for impairment testing purposes to one cash-generating unit – the Aston TEland and fixtures Motor TE G buildings Tooling and fittings vehicles Total G I £m £m £m £m £m I Martin Lagonda Group business. This represents the lowest level within the Group at which goodwill and brands are monitored for internal purposes. C C R R The Group has considered the carrying value of its assets in the context of the Group’s market capitalisation. At this level, it was concluded that the net Cost E E assets of the Group are recoverable owing to the Group’s market capitalisation of £1.9bn at 31 December 2023. PBalance at 1 January 2022 71.5 547.6 238.5 0.8 858.4 P O O R R T T Finite useful life non-current assets Additions 2.9 64.1 27.8 0.1 94.9 Recoverability of non-current assets with finite useful lives include property, plant and equipment, right-of-use lease assets and certain intangible assets. Disposals – – (0.6) (0.2) (0.8) Intangible assets with finite useful lives mainly consist of capitalised development costs and technology. Effect of movements in exchange rates 0.3 – 0.1 – 0.4 G G O Balance at 31 December 2022 74.7 611.7 265.8 0.7 952.9 O The Group reviews the carrying amount of non-current assets with finite useful lives when events and circumstances indicate that an asset may be impaired. VE VE Impairment tests are performed by comparing the carrying amount and the recoverable amount of the assets. The recoverable amount is the higher of the R R assets’ fair value less costs of disposal and its value-in-use. Where non-current assets with finite useful lives are not yet available for use, these are tested for NANBalance at 1 January 2023 74.7 611.7 265.8 0.7 952.9 NAN impairment annually. Additions 9.1 45.0 23.8 - 77.9 C C E E In assessing the value-in-use, the estimated future cash flows relating to the forecast usage period of the asset, or group of assets, are discounted to their Disposals (0.1) (2.8) (1.7) (0.1) (4.7) present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks. Effect of movements in exchange rates (0.4) – (0.1) – (0.5) F Balance at 31 December 2023 83.3 653.9 287.8 0.6 1,025.6 F I I Key assumptions used in value-in-use calculations NAN NAN Where there are indicators of impairment, the calculation of value-in-use for the assets is most sensitive to the following assumptions: C C Depreciation – Cash flows are projected based on actual operating results and the current five-year plan. IAL IAL – Discount rates are calculated using a weighted average cost of capital approach. They reflect the individual nature and specific risks relating to the SBalance at 1 January 2022 32.3 363.7 106.7 0.2 502.9 S T T Charge for the year 2.7 60.5 17.3 0.2 80.7 business and the market in which the Group operates. The pre-tax discount rate used was 14.0% (2022: 14.0%). A A T T Disposals – – (0.6) (0.2) (0.8) – A long-term growth rate of 2% (2022: 2%) E E M M E Effect of movements in exchange rates 0.1 – 0.1 – 0.2 E Sensitivity analysis N N T Balance at 31 December 2022 35.1 424.2 123.5 0.2 583.0 T – As at 31 December 2023, the gross margin would need to decrease by 36% before any of the finite life assets become impaired. S S The Group has considered the carrying value of its assets in conjunction with the trading and cash flow forecasts for the Group including factors related Balance at 1 January 2023 35.1 424.2 123.5 0.2 583.0 to the Group’s ongoing climate commitments (see note 1). The Group is satisfied no impairment is required at 31 December 2023. No reasonably possible F F U U Charge for the year 3.8 67.9 19.5 – 91.2 change in an assumption could result in a material impact on the impairment assessment in the next twelve months. R R T T H H Disposals (0.1) (0.9) (1.0) (0.1) (2.1) E E R R INF Effect of movements in exchange rates (0.1) – (0.1) – (0.2) INF Balance at 31 December 2032 38.7 491.2 141.9 0.1 671.9 OR OR M M A A Net book value T T I I ON ON At 1 January 2022 39.2 183.9 131.8 0.6 355.5 At 31 December 2022 39.6 187.5 142.3 0.5 369.9 At 1 January 2023 39.6 187.5 142.3 0.5 369.9 At 31 December 2023 44.6 162.7 145.9 0.5 353.7 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 167

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S 14 PROPERTY, PLANT AND EQUIPMENT CONTINUED TR Property, plant and equipment provides security for a fixed and floating charge in favour of the Aston Martin Lagonda Limited pension scheme. A TE Assets in the course of construction at a cost of £37.4m (2022: £32.9m) are not depreciated until available for use and are included within tooling, plant and G I C machinery. The gross value of freehold land and buildings includes freehold land of £6.1m (2022: £6.1m) which is not depreciated. Capital commitments R are disclosed in note 30. E P O The tables below analyse the net book value of the Group’s property, plant and equipment by geographical location. R T United Kingdom Rest of Europe The Americas Asia Pacific Total At 31 December 2023 £m £m £m £m £m Freehold land and buildings 38.7 1.9 5.7 – 46.3 G O Tooling 83.7 73.7 0.9 0.3 158.6 VE Plant, machinery, fixtures and fittings, and motor vehicles 146.6 2.0 0.2 – 148.8 R 269.0 77.6 6.8 0.3 353.7 NAN C United Kingdom Rest of Europe The Americas Asia Pacific Total E At 31 December 2022 £m £m £m £m £m F Freehold land and buildings 36.6 1.8 2.9 – 41.3 I NAN Tooling 120.3 61.8 1.1 – 183.2 Plant, machinery, fixtures and fittings, and motor vehicles 144.7 0.7 – – 145.4 C IAL 301.6 64.3 4.0 – 369.9 S T A 15 INVESTMENTS IN EQUITY INTERESTS T E On 15 November 2023, the Group subscribed for shares in AMR GP Holdings Limited by exercising its primary warrant option and subscribing for reward M E shares it was entitled to under the initial sponsorship term. The primary warrant became exercisable following the Group entering an agreement with AMR N T GP for a second sponsorship term running from 2026 to 2030. S At the point of subscription, a valuation exercise was undertaken to determine the fair value of the derivatives with a gain being recognised in the F Consolidated Income Statement (see note 20). As the subscription was sufficiently close to the year-end date, and no material changes have occurred in U R underlying business, the same valuation was used to determine the fair value as at 31 December 2023. The fair value of the warrant equity option and T H reward shares was established by applying the proportion of equity represented by the derivatives to an assessment of the equity value of AMR GP Limited, E R which is then adjusted to reflect marketability and control commensurate with the size of the investment. INF The Group has made the election to carry the investment at fair value through other comprehensive income and will continue to fair value the investment in OR line with the requirements of IFRS 9 at future balance sheet dates. This election was made to reduce volatility due to movements in fair value within the M Consolidated Income Statement. A T I ON 2023 2022 £m £m Investments As at 1 January – – Additions 18.2 – As at 31 December 18.2 – ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 168

NOTES TO THE FINANCIAL STATEMENTS CONTINUED S S 14 PROPERTY, PLANT AND EQUIPMENT CONTINUED TR16 LEASES TR Property, plant and equipment provides security for a fixed and floating charge in favour of the Aston Martin Lagonda Limited pension scheme. AThe Group holds lease contracts for buildings, plant and machinery and IT equipment. A TE TE Assets in the course of construction at a cost of £37.4m (2022: £32.9m) are not depreciated until available for use and are included within tooling, plant and Ga) Right-of-use lease assets G I I C C machinery. The gross value of freehold land and buildings includes freehold land of £6.1m (2022: £6.1m) which is not depreciated. Capital commitments RPlant and R Properties machinery IT equipment Total are disclosed in note 30. E £m £m £m £m E P P O O R R The tables below analyse the net book value of the Group’s property, plant and equipment by geographical location. Cost T Balance at 1 January 2022 89.2 15.6 6.5 111.3 T United Kingdom Rest of Europe The Americas Asia Pacific Total At 31 December 2023 £m £m £m £m £m Additions 4.0 – – 4.0 Freehold land and buildings 38.7 1.9 5.7 – 46.3 G G Modifications 3.3 – 0.2 3.5 O O Tooling 83.7 73.7 0.9 0.3 158.6 VE VE Disposals (5.5) (4.5) (5.8) (15.8) Plant, machinery, fixtures and fittings, and motor vehicles 146.6 2.0 0.2 – 148.8 R R 269.0 77.6 6.8 0.3 353.7 NANEffect of movements in exchange rates 1.2 – – 1.2 NAN Balance at 31 December 2022 92.2 11.1 0.9 104.2 C C E E United Kingdom Rest of Europe The Americas Asia Pacific Total Balance at 1 January 2023 92.2 11.1 0.9 104.2 At 31 December 2022 £m £m £m £m £m Additions 4.4 – 1.4 5.8 F F Freehold land and buildings 36.6 1.8 2.9 – 41.3 I I NAN NAN Tooling 120.3 61.8 1.1 – 183.2 Modifications 0.6 – – 0.6 Disposals (3.5) (0.1) (0.1) (3.7) Plant, machinery, fixtures and fittings, and motor vehicles 144.7 0.7 – – 145.4 C C IAL Effect of movements in exchange rates (1.5) – (0.1) (1.6) IAL 301.6 64.3 4.0 – 369.9 S S Balance at 31 December 2023 92.2 11.0 2.1 105.3 T T A A T T 15 INVESTMENTS IN EQUITY INTERESTS E E M M On 15 November 2023, the Group subscribed for shares in AMR GP Holdings Limited by exercising its primary warrant option and subscribing for reward Depreciation E E shares it was entitled to under the initial sponsorship term. The primary warrant became exercisable following the Group entering an agreement with AMR N N Balance at 1 January 2022 24.3 5.1 5.9 35.3 T T GP for a second sponsorship term running from 2026 to 2030. S S Charge for the year 9.9 0.6 0.5 11.0 At the point of subscription, a valuation exercise was undertaken to determine the fair value of the derivatives with a gain being recognised in the Disposals (5.5) (4.5) (5.8) (15.8) F F Consolidated Income Statement (see note 20). As the subscription was sufficiently close to the year-end date, and no material changes have occurred in UEffect of movements in exchange rates (0.7) – – (0.7) U R R underlying business, the same valuation was used to determine the fair value as at 31 December 2023. The fair value of the warrant equity option and T T Balance at 31 December 2022 28.0 1.2 0.6 29.8 H H reward shares was established by applying the proportion of equity represented by the derivatives to an assessment of the equity value of AMR GP Limited, E E R R which is then adjusted to reflect marketability and control commensurate with the size of the investment. INFBalance at 1 January 2023 28.0 1.2 0.6 29.8 INF The Group has made the election to carry the investment at fair value through other comprehensive income and will continue to fair value the investment in OR OR r 8.3 0.4 0.6 9.3 Charge for the yea line with the requirements of IFRS 9 at future balance sheet dates. This election was made to reduce volatility due to movements in fair value within the M M Disposals (3.4) (0.1) (0.1) (3.6) Consolidated Income Statement. A A T Effect of movements in exchange rates (0.7) – 0.1 (0.6) T I I ON Balance at 31 December 2023 32.2 1.5 1.2 34.9 ON 2023 2022 £m £m Carrying value Investments At 1 January 2022 64.9 10.5 0.6 76.0 As at 1 January – – At 31 December 2022 64.2 9.9 0.3 74.4 Additions 18.2 – At 1 January 2023 64.2 9.9 0.3 74.4 As at 31 December 18.2 – At 31 December 2023 60.0 9.5 0.9 70.4 Income from the sub-leasing of right-of-use assets in the year 31 December 2023 was £0.4m (2022: £0.6m). The Group recognises the lease payments received on a straight-line basis over the lease term within administrative and other operating expenses in the Consolidated Income Statement. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 169

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S 16 LEASES CONTINUED TR b) Obligations under leases A The maturity profile of undiscounted lease cash flows accounted for under IFRS 16 is: TE G I C 2023 2022 R £m £m E Less than one year 12.7 9.9 P O R One to five year 40.3 39.1 T More than five years 82.8 90.1 135.8 139.2 G O The maturity profile of discounted lease cash flows accounted for under IFRS 16 is: VE R 2023 2022 NAN £m £m C Less than one year 8.8 7.4 E One to five years 28.5 26.8 More than five years 60.0 65.6 F I 97.3 99.8 NAN Analysed as: C Current 8.8 7.4 IAL Non-current 88.5 92.4 S T A 97.3 99.8 T E M E A reconciliation of the lease liability from 1 January to 31 December for the current and prior year is disclosed within note 28. N T The total lease interest expense for the year ended 31 December 2023 was £4.1m (2022: £4.5m). Total cash outflow for leases accounted for under IFRS 16 S for the current year was £7.9m (2022: £10.0m). Expenses charged to the Consolidated Income Statement for short-term leases for the year ended 31 December 2023 were £0.3m (2022: £0.7m). The portfolio of short-term leases at 31 December 2023 is representative of the expected annual short-term F U lease expense in future years. R T H E The following disclosure has been included to facilitate the understanding of the impact of adopting IFRS 16 on the Group due to covenants in the Group’s R finance arrangements that continue to use IAS 17. INF The impact of IFRS 16 on the Consolidated Income Statement, excluding tax, for the year ended 31 December 2023 is: OR M Excluding A Add back Add back impact of T I As reported IFRS 16 IFRS 16 Less Less IFRS 16 ON 31 December interest depreciation amortisation Less lease IAS 17 31 December 2023 charge charge of legal fees incentives lease cost 2023 £m £m £m £m £m £m £m Revenue 1,632.8 – – – – – 1,632.8 Cost of sales (993.6) – – – – – (993.6) Gross profit 639.2 – – – – – 639.2 Selling and distribution expenses (143.8) – – – – – (143.8) Administrative and other operating expenses (606.6) – 9.3 (0.1) 1.1 (11.7) (608.0) Operating loss (111.2) – 9.3 (0.1) 1.1 (11.7) (112.6) Finance income 74.3 – – – – – 74.3 Finance expense (202.9) 4.1 – – – – (198.8) (Loss)/profit before tax (239.8) 4.1 9.3 (0.1) 1.1 (11.7) (237.1) Adjusted EBITDA (note 34) 305.9 – – (0.1) 1.1 (11.7) 295.2 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 170

NOTES TO THE FINANCIAL STATEMENTS CONTINUED S S 16 LEASES CONTINUED TR 16 LEASES CONTINUED TR b) Obligations under leases Ab) Obligations under leases continued A The maturity profile of undiscounted lease cash flows accounted for under IFRS 16 is: TEThe impact of IFRS 16 on the Consolidated Income Statement, excluding tax, for the year ended 31 December 2022 is: TE G G I I C C 2023 2022 R Excluding R £m £m Add back Add back impact of E As reported IFRS 16 IFRS 16 Less Less IFRS 16 E Less than one year 12.7 9.9 P P O 31 December interest depreciation amortisation Less lease IAS 17 31 December O R 2022 charge charge of legal fees incentives lease cost 2022 R One to five year 40.3 39.1 T £m £m £m £m £m £m £m T More than five years 82.8 90.1 Revenue 1,381.5 – – – – – 1,381.5 135.8 139.2 G G Cost of sales (930.8) – – – – – (930.8) O O VE VE Gross profit 450.7 – – – – – 450.7 The maturity profile of discounted lease cash flows accounted for under IFRS 16 is: R R Selling and distribution expenses (113.0) – – – – – (113.0) 2023 2022 NAN Administrative and other NAN £m £m operating expenses (479.5) – 11.0 (0.1) 1.1 (14.5) (482.0) C C Less than one year 8.8 7.4 E E Operating loss (141.8) – 11.0 (0.1) 1.1 (14.5) (144.3) One to five years 28.5 26.8 Finance income 15.5 – – – – – 15.5 More than five years 60.0 65.6 F F Finance expense (368.7) 4.5 – – – – (364.2) I I 97.3 99.8 NAN NAN (Loss)/profit before tax (495.0) 4.5 11.0 (0.1) 1.1 (14.5) (493.0) Analysed as: C C IAL IAL Current 8.8 7.4 S S Adjusted EBITDA (note 34) 190.2 – – (0.1) 1.1 (14.5) 176.6 Non-current 88.5 92.4 T T A A 97.3 99.8 T T E 17 INVENTORIES E M 2023 2022 M E E A reconciliation of the lease liability from 1 January to 31 December for the current and prior year is disclosed within note 28. N £m £m N T T The total lease interest expense for the year ended 31 December 2023 was £4.1m (2022: £4.5m). Total cash outflow for leases accounted for under IFRS 16 SParts for resale, service parts and production stock 157.7 152.2 S for the current year was £7.9m (2022: £10.0m). Expenses charged to the Consolidated Income Statement for short-term leases for the year ended 31 Work in progress 33.2 48.5 December 2023 were £0.3m (2022: £0.7m). The portfolio of short-term leases at 31 December 2023 is representative of the expected annual short-term FFinished vehicles 81.8 85.5 F U U lease expense in future years. R 272.7 286.2 R T T H H E E The following disclosure has been included to facilitate the understanding of the impact of adopting IFRS 16 on the Group due to covenants in the Group’s R R finance arrangements that continue to use IAS 17. INFFinished vehicles include Group-owned service cars at a net realisable value of £49.0m (2022: £44.4m). INF The impact of IFRS 16 on the Consolidated Income Statement, excluding tax, for the year ended 31 December 2023 is: ORDuring the years ended 31 December 2023 and 2022, inventory repurchase arrangements were entered for certain parts for resale, service parts and OR M production stock. These inventories were sold and subsequently repurchased – see note 21 for further details. M Excluding A A Add back Add back impact of T18 TRADE AND OTHER RECEIVABLES T I I As reported IFRS 16 IFRS 16 Less Less IFRS 16 ON 2023 2022 ON 31 December interest depreciation amortisation Less lease IAS 17 31 December £m £m 2023 charge charge of legal fees incentives lease cost 2023 £m £m £m £m £m £m £m Amounts included in current assets Revenue 1,632.8 – – – – – 1,632.8 Trade receivables 216.2 137.0 Cost of sales (993.6) – – – – – (993.6) Indirect taxation 43.8 42.5 Gross profit 639.2 – – – – – 639.2 Prepayments 46.6 46.8 Selling and distribution expenses (143.8) – – – – – (143.8) Other receivables 15.6 19.4 Administrative and other 322.2 245.7 operating expenses (606.6) – 9.3 (0.1) 1.1 (11.7) (608.0) Operating loss (111.2) – 9.3 (0.1) 1.1 (11.7) (112.6) Amounts included in non-current assets Finance income 74.3 – – – – – 74.3 Other receivables 5.3 6.3 Finance expense (202.9) 4.1 – – – – (198.8) (Loss)/profit before tax (239.8) 4.1 9.3 (0.1) 1.1 (11.7) (237.1) Trade and other receivables for non-vehicle receivables are non-interest bearing and generally have terms of less than 60 days. Due to their short maturities, the fair value of trade and other receivables approximates to their book value. Certain vehicle trade receivables are financed through a wholesale Adjusted EBITDA (note 34) 305.9 – – (0.1) 1.1 (11.7) 295.2 finance facility (see below). Where vehicle trade receivables remain a part of the Group’s Consolidated Statement of Financial Position, these receivables bear interest after 60 days. Credit terms for such trade receivables vary between 0 and 180 days. Credit risk is discussed further in note 23. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 171

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S 18 TRADE AND OTHER RECEIVABLES CONTINUED TR The carrying amount of trade and other receivables at 31 December, converted into sterling at the year-end exchange rates, are denominated in the A following currencies (excluding prepayments): TE G I C 2023 2022 R £m £m E Sterling 78.6 75.6 P O R Chinese renminbi 38.3 15.2 T Euro 87.9 50.8 US dollar 17.0 21.7 G Japanese yen 41.0 31.0 O Other 18.1 11.4 VE R 280.9 205.7 NAN C Wholesale finance facility E Sales to third-party Aston Martin franchised dealers are eligible, subject to individual dealer approved credit limits, to be financed through a wholesale finance facility. F I In the year ended 31 December 2022, the Group entered into a multi-currency wholesale finance facility with CA Auto Bank S.p.A. (“CAAB”) and its regional NAN designates. Under the facility, the Group finances dealer trade receivables with CAAB around the time a sale has been made under the Group’s revenue C recognition policy and receives consideration equal to the value of the trade receivable financed. The Group has the option to subvent the dealer financing IAL cost which provides the dealer network an interest-free period. The cost of this subvention is presented as a financing expense in the Consolidated Income S T Statement. The Group has considered the IFRS 9 criteria for asset derecognition in respect of the trade receivables financed through CAAB. The Group is A T satisfied that substantially all the risks are transferred to CAAB. As a result, the wholesale finance facility is off balance sheet. Due to this classification, E M financing costs of £2.5m (2022: £0.3m) associated with the scheme are presented in operating cash flows (note 28). As at 31 December 2023, £83.8m was E N financed under the facility (2022: £65.2m). T S The Group’s previous wholesale finance facility was with Velocitas Funding Designated Activity Company (“Velocitas”) a special purpose vehicle established for the purpose and financed by a panel of banks led by JPMorgan Chase Bank, N.A., London Branch. At 31 December 2022 the multi-currency facility was F closed to new financing, and wound down in the first half of 2023. The remaining senior loan of £0.1m and subordinated loan of £0.5m was received by the U R T Group in the year ended 31 December 2023. H E R INF OR M A T I ON ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 172

NOTES TO THE FINANCIAL STATEMENTS CONTINUED S S 18 TRADE AND OTHER RECEIVABLES CONTINUED TR19 CASH AND CASH EQUIVALENTS TR The carrying amount of trade and other receivables at 31 December, converted into sterling at the year-end exchange rates, are denominated in the A 2023 2022 A following currencies (excluding prepayments): TE £m £m TE G Cash and cash equivalents 392.4 583.3 G I I C C 2023 2022 R R £m £m E E Sterling 78.6 75.6 PCash at bank when placed on deposit earns interest at floating rates based on daily bank deposit rates. The book value of cash and cash equivalents P O O R approximates to their fair value. R Chinese renminbi 38.3 15.2 TCash is held in the following currencies; those held in currencies other than sterling have been converted into sterling at year-end exchange rates: T Euro 87.9 50.8 US dollar 17.0 21.7 2023 2022 G £m £m G Japanese yen 41.0 31.0 O O Other 18.1 11.4 VESterling 143.2 336.8 VE R R 280.9 205.7 NAN Chinese renminbi 21.6 59.8 NAN Euro 38.7 26.1 C C Wholesale finance facility EUS dollar 166.5 130.5 E Sales to third-party Aston Martin franchised dealers are eligible, subject to individual dealer approved credit limits, to be financed through a wholesale Japanese yen 15.9 4.5 finance facility. Other 6.5 25.6 F F I I In the year ended 31 December 2022, the Group entered into a multi-currency wholesale finance facility with CA Auto Bank S.p.A. (“CAAB”) and its regional NAN 392.4 583.3 NAN designates. Under the facility, the Group finances dealer trade receivables with CAAB around the time a sale has been made under the Group’s revenue CIncluded within the above: C recognition policy and receives consideration equal to the value of the trade receivable financed. The Group has the option to subvent the dealer financing IALRestricted cash – 32.8 IAL cost which provides the dealer network an interest-free period. The cost of this subvention is presented as a financing expense in the Consolidated Income S S T T Statement. The Group has considered the IFRS 9 criteria for asset derecognition in respect of the trade receivables financed through CAAB. The Group is ADuring 2021, the Group entered into a bilateral Revolving Credit Facility with HSBC Bank plc (“HSBC”), whereby Chinese renminbi with an initial value of A T T satisfied that substantially all the risks are transferred to CAAB. As a result, the wholesale finance facility is off balance sheet. Due to this classification, E£31.9m were deposited in a restricted account with HSBC in China in exchange for a £30.0m sterling overdraft facility with HSBC in the UK. The restricted E M M financing costs of £2.5m (2022: £0.3m) associated with the scheme are presented in operating cash flows (note 28). As at 31 December 2023, £83.8m was Ecash was revalued at 31 December 2022 to £32.8m and is shown in the cash and cash equivalents value above. The cash in China cannot be withdrawn whilst E N N financed under the facility (2022: £65.2m). Tthe loan remains in place. During the year ended 31 December 2023, the loan was repaid and the restricted cash was released. T S S The Group’s previous wholesale finance facility was with Velocitas Funding Designated Activity Company (“Velocitas”) a special purpose vehicle established 20 OTHER FINANCIAL ASSETS for the purpose and financed by a panel of banks led by JPMorgan Chase Bank, N.A., London Branch. At 31 December 2022 the multi-currency facility was 2023 2022 F F closed to new financing, and wound down in the first half of 2023. The remaining senior loan of £0.1m and subordinated loan of £0.5m was received by the U £m £m U R R T Forward currency contracts held at fair value 3.3 2.3 T Group in the year ended 31 December 2023. H H E E R Loan assets – 0.6 R INF Cash held not available for short-term use – 0.3 INF OR Other derivative contracts – 5.6 OR M 3.3 8.8 M A A T T I I ON Analysed as: ON Current 3.3 8.8 Non-current – – 3.3 8.8 The Group uses forward currency contracts to partly manage the risk associated with fluctuations in exchange rates on future sales contracts. At the reporting date these cash flow hedges are marked-to-market and any assets are shown as other financial assets in the Statement of Financial Position. At 31 December 2022, £0.3m held in certain local bank accounts had been frozen in relation to local arbitration proceedings and the cash held in these accounts did not meet the definition of cash and cash equivalents, and therefore was classified as an other financial asset. During 2023, all amounts have been unfrozen. At 31 December 2022, the Group held £0.5m of subordinated loan and £0.1m of senior loan assets relating to a wholesale financing facility (note 18). The facility fully closed during the year ended 31 December 2023 and the amounts were repaid to the Group. The subordinated loan is presented within financing cashflows owing to its longer term deposit time whereas movements in the senior loan are included in operating cashflow. Other derivative contracts comprise warrant options and non-option derivatives both of which entitle the Group to subscribe for equity in AMR GP Holdings Limited, the immediate parent company of AMR GP Limited. The warrant options were recorded as an embedded option derivative asset at £2.9m on initial recognition on 31 March 2020. The fair value movement in the options for the year ended 31 December 2023 was a £7.4m increase (2022: £1.6m increase) and is recognised within the Consolidated Income Statement in administrative expenses. A corresponding liability was recognised on inception of the arrangement (see note 22) which represented an accrual for that element of future sponsorship payments. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 173

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S 20 OTHER FINANCIAL ASSETS CONTINUED TR The fair value of the warrant equity option above has been established by applying the proportion of equity represented by the derivative to an assessment A of the enterprise value of AMR GP Limited, which is then adjusted to reflect marketability and control commensurate with the size of the investment. TE G I C There is a further embedded derivative in the agreement in respect of an additional economic interest in the equity of AMR GP Holdings Limited which was R assessed as having a carrying value of £nil at inception. This derivative entitled the Group to subscribe for further share capital in AMR GP Limited in the E P event that the sponsorship agreement is extended for a further five-year period. The fair value movement in this derivative for the year ended 31 December O R 2023 was a £3.8m increase (2022: £0.7m increase) and is recognised within the Consolidated Income Statement in administrative expenses. The movement T in the value of this derivative has been estimated using the same method as the warrant equity option disclosed above. There is no corresponding liability recorded as it is a non-option embedded derivative. G O The Group exercised its option and subscribed for equity in AMR GP Holdings Limited during the year ended 31 December 2023. The Group holds one VE further warrant which is exercisable in the event of the Group agreeing a third period of sponsorship for the period 2031 to 2035. The fair value of this R warrant option is currently assessed as £nil owing to the uncertainty that the sponsorship will be renewed so far in the future. NAN 21 TRADE AND OTHER PAYABLES C Current trade and other payables E 2023 2022 £m £m (restated*) F I Trade payables 143.2 151.2 NAN Repurchase liability 39.7 38.2 C Customer deposits and advances 272.1 335.7 IAL Accruals and other payables 356.5 346.0 S T Deferred income – tax relief* 13.8 14.9 A T E Deferred income – service packages 4.7 5.2 M E N Deferred income – other 10.4 – T 840.4 891.2 S * Detail on the restatement is disclosed in note 2 F U Trade payables are non-interest bearing, and it is the Group’s policy to settle the liability within 90 days. R T H Accruals and other payables consist of product development and capital accruals of £115.4m (2022: £135.7m), sales and marketing accruals of £70.4m E R (2022: £59.0m), manufacturing accruals of £44.4m (2022: £40.7m) and administrative and other accruals of £126.3m (2022: £110.6m). INF At 31 December 2023, a repurchase liability of £39.7m including accrued interest of £1.7m, has been recognised in trade and other payables and net debt OR (see note 24). In 2023, £31.4m of parts for resale, service parts and production stock were sold for £38.0m (gross of indirect tax) and subsequently M A repurchased. Under this repurchase agreement, the Group will repay a total of £40.0m (gross of indirect tax). As part of the arrangement, legal title to the T I parts was surrendered, however, control remained with the Group. During 2023, £40.0m had been repaid relating to the liability of £38.2m as at 31 ON December 2022 following further interest accrual. Contract liabilities Changes in the Group’s contract liabilities during the year are summarised as follows: Significant financing Additional Amounts component for Amounts amounts arising recognised which an interest returned At 31 At 1 January during the within charge is and other December 2023 period revenue recognised changes 2023 £m £m £m £m £m £m Customer deposits and advances 335.7 122.7 (156.1) 7.7 (37.9) 272.1 Deferred income – service packages 13.7 4.2 (5.2) – (0.2) 12.5 Significant financing Additional Amounts component for Amounts amounts arising recognised which an interest returned At 31 At 1 January during the within charge is and other December 2022 period revenue recognised changes 2022 £m £m £m £m £m £m Customer deposits and advances 342.6 108.5 (111.0) 8.0 (12.4) 335.7 Deferred income – service packages 14.9 3.2 (4.7) – 0.3 13.7 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 174

NOTES TO THE FINANCIAL STATEMENTS CONTINUED S S 20 OTHER FINANCIAL ASSETS CONTINUED TR21 TRADE AND OTHER PAYABLES CONTINUED TR The fair value of the warrant equity option above has been established by applying the proportion of equity represented by the derivative to an assessment ACustomer deposits and advances are recognised in revenue when the performance obligation, principally the supply of a Limited-Edition vehicle or service A of the enterprise value of AMR GP Limited, which is then adjusted to reflect marketability and control commensurate with the size of the investment. TEof a vehicle, is met by the Group. As part of the operating cycle of Special Vehicle projects, to which these customer deposits primarily relate, the Group TE G G I I C expects to derecognise a significant proportion over the next three years with approximately £167.1m expected to be recognised in 2024. This unwind C There is a further embedded derivative in the agreement in respect of an additional economic interest in the equity of AMR GP Holdings Limited which was Rrelates to the balance held as at 31 December 2023 and does not take into consideration any additional deposits and advances arising during 2024. R assessed as having a carrying value of £nil at inception. This derivative entitled the Group to subscribe for further share capital in AMR GP Limited in the E E P P event that the sponsorship agreement is extended for a further five-year period. The fair value movement in this derivative for the year ended 31 December OIn the year ended 31 December 2023, a finance expense of £7.7m (see note 8) was recognised as a significant financing component on contract liabilities O R R 2023 was a £3.8m increase (2022: £0.7m increase) and is recognised within the Consolidated Income Statement in administrative expenses. The movement Theld for greater than 12 months (2022: £8.0m). Upon satisfaction of the linked performance obligation, the liability is released to revenue so that the total T in the value of this derivative has been estimated using the same method as the warrant equity option disclosed above. There is no corresponding liability amount taken to the Consolidated Income Statement reflects the sales price the customer would have paid for the vehicle at that point in time. recorded as it is a non-option embedded derivative. G The Group applies a practical expedient for short-term advances received from customers whereby the advanced payment is not adjusted for the effects of G O O The Group exercised its option and subscribed for equity in AMR GP Holdings Limited during the year ended 31 December 2023. The Group holds one VEa significant financing component. According to the individual terms of the Special Vehicle contract and the position of the customer in the staged deposit VE further warrant which is exercisable in the event of the Group agreeing a third period of sponsorship for the period 2031 to 2035. The fair value of this Rand vehicle specification process, some deposits are contractually refundable. At 31 December 2023, the Group held £132.8m of contractually refundable R warrant option is currently assessed as £nil owing to the uncertainty that the sponsorship will be renewed so far in the future. NANdeposits (before the impact of significant financing components) (2022: £102.9m). The Special Vehicle programmes are typically oversubscribed and, in the NAN event that a customer requests reimbursement of their advanced payment, the newly created allocation is then given to an alternative customer who is 21 TRADE AND OTHER PAYABLES C C Current trade and other payables Erequired to make an equivalent advanced payment. The cumulative significant financing component associated with a reimbursed advance payment is E 2023 2022 credited in arriving at the net significant finance charge for the year. Further liquidity risk considerations are disclosed in note 23. £m £m (restated*) F Deferred service package income is recognised in revenue over the service package period. F I I Trade payables 143.2 151.2 NANNon-current trade and other payables NAN Repurchase liability 39.7 38.2 C 2023 2022 C Customer deposits and advances 272.1 335.7 IAL £m £m (restated*) IAL Accruals and other payables 356.5 346.0 STrade payables** 71.7 – S T T Deferred income – tax relief* 13.8 14.9 ADeferred income – tax relief* 42.0 34.1 A T T E E Deferred income – service packages 4.7 5.2 MDeferred income – service packages 7.8 8.5 M E E Deferred income – other 10.4 – NOther payables 0.8 0.6 N T T 840.4 891.2 S 122.3 43.2 S * Detail on the restatement is disclosed in note 2 * Detail on the restatement is disclosed in note 2 ** Trade payables consists of discounted deferred payments relating to technology purchases in the year (see note 12). F F U U Trade payables are non-interest bearing, and it is the Group’s policy to settle the liability within 90 days. R R T T H 22 OTHER FINANCIAL LIABILITIES H Accruals and other payables consist of product development and capital accruals of £115.4m (2022: £135.7m), sales and marketing accruals of £70.4m E 2023 2022 E R R (2022: £59.0m), manufacturing accruals of £44.4m (2022: £40.7m) and administrative and other accruals of £126.3m (2022: £110.6m). INF £m £m INF Forward currency contracts held at fair value (see note 23) 2.1 0.7 At 31 December 2023, a repurchase liability of £39.7m including accrued interest of £1.7m, has been recognised in trade and other payables and net debt OROther derivative contracts (see note 20) – 2.9 OR (see note 24). In 2023, £31.4m of parts for resale, service parts and production stock were sold for £38.0m (gross of indirect tax) and subsequently M M A Derivative option over own shares (see note 23) 23.1 22.6 A repurchased. Under this repurchase agreement, the Group will repay a total of £40.0m (gross of indirect tax). As part of the arrangement, legal title to the T T I I parts was surrendered, however, control remained with the Group. During 2023, £40.0m had been repaid relating to the liability of £38.2m as at 31 ON 25.2 26.2 ON December 2022 following further interest accrual. Contract liabilities Analysed as: Changes in the Group’s contract liabilities during the year are summarised as follows: Current 25.2 26.2 Significant Non-current – – financing 25.2 26.2 Additional Amounts component for Amounts amounts arising recognised which an interest returned At 31 At 1 January during the within charge is and other December 2023 period revenue recognised changes 2023 £m £m £m £m £m £m Customer deposits and advances 335.7 122.7 (156.1) 7.7 (37.9) 272.1 Deferred income – service packages 13.7 4.2 (5.2) – (0.2) 12.5 Significant financing Additional Amounts component for Amounts amounts arising recognised which an interest returned At 31 At 1 January during the within charge is and other December 2022 period revenue recognised changes 2022 £m £m £m £m £m £m Customer deposits and advances 342.6 108.5 (111.0) 8.0 (12.4) 335.7 Deferred income – service packages 14.9 3.2 (4.7) – 0.3 13.7 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 175

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S 23 FINANCIAL INSTRUMENTS TR Group A The Group's principal financial instruments comprise cash and cash equivalents, Senior Secured Notes (“SSNs”), a Revolving Credit Facility (“RCF”), a finished TE G I vehicle financing facility, a bilateral RCF, loan assets, derivative options, and forward currency contracts. Additionally, the Group has trade payables and C trade receivables which arise directly from its operations. Included in trade and other payables is a liability relating to an inventory repurchase arrangement. R E These short-term assets and liabilities are included in the currency risk disclosure. The main risks arising from the Group's financial instruments are credit P O risk, interest-rate risk, currency risk and liquidity risk. The Board of Directors has overall responsibility for the establishment and oversight of the Group's risk R management framework. The Group's risk policies are established to identify and analyse the risks faced by the Group, to set appropriate risk limits and T controls, and monitor adherence to limits. The Board of Directors oversees how management monitor compliance with the Group risk management policies and procedures and reviews the adequacy of the risk management framework in relation to specific risks faced by the Group. G O Credit risk VE The Group sells vehicles through a global dealer network. Dealers outside of North America are required to pay for vehicles in advance of their despatch or R use the wholesale financing scheme (see note 18). Credit risk on receivables purchased by CAAB under the wholesale finance facilities is borne by CAAB. NAN The Group has no credit risk associated with the CAAB facility. The Group’s remaining vehicle sales to territories where there is currently no wholesale C financing are made on credit terms ranging from 30 to 180 days. The Group manages the default risk of such sales via a credit risk insurance policy. Dealers E within North America are allowed ten-day credit terms from the date of invoice. In certain circumstances, after thorough consideration of the credit history of an individual dealer, the Group may sell vehicles outside of the credit risk insurance policy or on deferred payment terms. Parts sales, which represent a F I smaller element of total revenue, are made to dealers on net 30-day credit terms. Servicing receivables are due for payment on collection of the vehicle. NAN Trade and other receivables are only written off when the Group has exhausted all options to recover the amounts due and provided for in full when there is C no reasonable expectation of recovery. Indicators that there is no reasonable expectation of recovery include, among others, the failure of the debtor to IAL engage in a repayment plan with the Group and a failure to make contractual payments. An expected credit loss provision is then calculated on the S T remaining trade and other receivables. The expected credit loss related to default of other receivables (note 18) is assessed as zero. A T E In generating the expected credit loss provision for trade receivables, historical credit loss rates for the preceding five years are calculated, including M E N consideration given to future factors that may affect the ability of customers to settle receivables, and applied to the trade and other receivable ageing T buckets at the year end. The Group applies the simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all S trade receivables. The Group has no material contract assets. F U R T As at 31 December 2023 As at 31 December 2022 H E Expected Gross carrying Loss Expected Gross carrying Loss R loss rate amount allowance loss rate amount allowance INF % £m £m % £m £m OR Current * 180.1 – * 129.1 – M 1 – 30 days past due * 28.2 – * 5.8 – A T 31 – 60 days past due * 3.7 – * 1.7 – I ON 61+ days past due 52.2% 8.8 4.6 93.8% 6.5 6.1 220.8 4.6 143.1 6.1 * The expected loss rates for these specific ageing categories are not disclosed, as no material loss allowance is generated when applied against the gross carrying value. The expected loss rate has reduced following the settlement of previously provided receivables. 2023 2022 £m £m Opening loss allowance as at 1 January 6.1 24.6 (Reduction)/increase in loss allowance recognised in the Income Statement – administrative and other operating expenses (1.3) 0.6 Receivables written off during the year as uncollectible (0.2) (19.2) Effect of foreign exchange – 0.1 At 31 December 4.6 6.1 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 176

NOTES TO THE FINANCIAL STATEMENTS CONTINUED S S 23 FINANCIAL INSTRUMENTS TR23 FINANCIAL INSTRUMENTS CONTINUED TR Group A Borrowings A The Group's principal financial instruments comprise cash and cash equivalents, Senior Secured Notes (“SSNs”), a Revolving Credit Facility (“RCF”), a finished TEThe following table analyses Group borrowings: TE G G I I vehicle financing facility, a bilateral RCF, loan assets, derivative options, and forward currency contracts. Additionally, the Group has trade payables and C C trade receivables which arise directly from its operations. Included in trade and other payables is a liability relating to an inventory repurchase arrangement. R2023 2022 R £m £m E E These short-term assets and liabilities are included in the currency risk disclosure. The main risks arising from the Group's financial instruments are credit PCurrent P O O risk, interest-rate risk, currency risk and liquidity risk. The Board of Directors has overall responsibility for the establishment and oversight of the Group's risk R R management framework. The Group's risk policies are established to identify and analyse the risks faced by the Group, to set appropriate risk limits and TBank loans and overdrafts 89.4 107.1 T controls, and monitor adherence to limits. The Board of Directors oversees how management monitor compliance with the Group risk management policies Non-current Senior Secured Notes 980.3 1,104.0 and procedures and reviews the adequacy of the risk management framework in relation to specific risks faced by the Group. G G O Total borrowings 1,069.7 1,211.1 O Credit risk VE VE The Group sells vehicles through a global dealer network. Dealers outside of North America are required to pay for vehicles in advance of their despatch or R R use the wholesale financing scheme (see note 18). Credit risk on receivables purchased by CAAB under the wholesale finance facilities is borne by CAAB. NANTotal borrowings are denominated in the following currencies, in sterling at the year-end exchange rates: NAN The Group has no credit risk associated with the CAAB facility. The Group’s remaining vehicle sales to territories where there is currently no wholesale C 2023 2022 C financing are made on credit terms ranging from 30 to 180 days. The Group manages the default risk of such sales via a credit risk insurance policy. Dealers E £m £m E within North America are allowed ten-day credit terms from the date of invoice. In certain circumstances, after thorough consideration of the credit history Sterling 89.4 107.1 US dollar 980.3 1,104.0 of an individual dealer, the Group may sell vehicles outside of the credit risk insurance policy or on deferred payment terms. Parts sales, which represent a F F I I smaller element of total revenue, are made to dealers on net 30-day credit terms. Servicing receivables are due for payment on collection of the vehicle. NANTotal borrowings 1,069.7 1,211.1 NAN Trade and other receivables are only written off when the Group has exhausted all options to recover the amounts due and provided for in full when there is C C no reasonable expectation of recovery. Indicators that there is no reasonable expectation of recovery include, among others, the failure of the debtor to IALCurrent borrowings IAL engage in a repayment plan with the Group and a failure to make contractual payments. An expected credit loss provision is then calculated on the SThe Group has a RCF attached to the SSNs (see Non-current borrowings below). The carrying amount net of unamortised arrangement fees included in S T T remaining trade and other receivables. The expected credit loss related to default of other receivables (note 18) is assessed as zero. Acurrent borrowings relating to the RCF at 31 December 2023 was £89.4m (2022: £77.1m). At 31 December 2023 £90.0m of the £99.6m RCF was drawn as A T T E cash (2022: £78.5m of the £90.6m facility). E In generating the expected credit loss provision for trade receivables, historical credit loss rates for the preceding five years are calculated, including M M E E N At 31 December 2022, the Group had entered into a bilateral revolving credit facility with HSBC Bank plc (“HSBC”), whereby Chinese Renminbi were N consideration given to future factors that may affect the ability of customers to settle receivables, and applied to the trade and other receivable ageing T T buckets at the year end. The Group applies the simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all Sdeposited in a restricted account with HSBC in China in exchange for a £30.0m Sterling overdraft facility with HSBC Bank plc in the United Kingdom. The S trade receivables. The Group has no material contract assets. restricted cash was revalued at 31 December 2022 to £32.8m and is shown in the cash and cash equivalents. At 31 December 2022, the facility of £30.0m was shown within borrowings in current liabilities on the Statement of Financial Position. During the year ended 31 December 2023, the bilateral revolving F F U credit facility was repaid, but remains available. U R R T T As at 31 December 2023 As at 31 December 2022 HNon-current borrowings H E E Expected Gross carrying Loss Expected Gross carrying Loss R R loss rate amount allowance loss rate amount allowance INFIn December 2020, the Group took out First Lien and Second Lien SSNs at $1085.5m and $335.0m, respectively. All SSNs are secured by fixed and floating INF % £m £m % £m £m charges over certain assets of the Group. In March 2021, the Group issued an additional £70.7m equivalent of 10.5% First Lien SSNs with a nominal value of OR OR Current * 180.1 – * 129.1 – $98.5m at a premium of £6.3m. Transaction costs of £1.7m and the premium are amortised using the effective interest rate. In October 2022, the Group M M 1 – 30 days past due * 28.2 – * 5.8 – repurchased $40.3m of First Lien SSNs and $143.8m of Second Lien SSNs. The portion of unamortised fees and the redemption premium was charged to the A A T T 31 – 60 days past due * 3.7 – * 1.7 – Consolidated Income Statement at the point of redemption as an accelerated charge and presented within adjusting items (note 5). Transaction costs of I I ON £1.9m relating to the repurchase are included in adjusting items (note 5). The US dollar amounts have been converted to sterling equivalents for reporting ON 61+ days past due 52.2% 8.8 4.6 93.8% 6.5 6.1 220.8 4.6 143.1 6.1 purposes. * The expected loss rates for these specific ageing categories are not disclosed, as no material loss allowance is generated when applied against the gross carrying value. The expected loss rate At 31 December 2023, the Group held £980.3m of SSNs (2022: £1,104.0m) comprising First Lien SSNs of $1,143.7m (2022: $1,143.7m) at 10.5% cash has reduced following the settlement of previously provided receivables. interest and Second Lien SSNs of $121.7m (2022: $229.1m) at 8.89% cash interest and 6.11% Payment in Kind (“PIK”) interest respectively. The Second Lien Notes were issued at a 2% discount and include detachable share warrants (see below). The First Lien Notes are repayable in November 2025 and the Second Lien Notes in November 2026. Transaction costs and discounts on issuance are amortised using the effective interest rate. Early repayments of both 2023 2022 First and Second Lien SSNs in the year ended 31 December 2022 and Second Lien SSNs in the year ended 31 December 2023 resulted in one off premium £m £m costs and the acceleration of transaction costs and discounts (see note 5). Opening loss allowance as at 1 January 6.1 24.6 (Reduction)/increase in loss allowance recognised in the Income Statement – administrative and other operating expenses (1.3) 0.6 Derivative option over own shares Receivables written off during the year as uncollectible (0.2) (19.2) The Second Lien SSNs include detachable warrants enabling the warrant holders to subscribe for a number of ordinary shares in the Company at the subscription price of £1.67 (previously £10 per share prior to the rights issue in September 2022). The warrant holders have the right to exchange their Effect of foreign exchange – 0.1 warrant options for a reduced number of warrant shares, resulting in no cash being paid to receive the shares. The ratio at which this exchange can be At 31 December 4.6 6.1 transacted is determined by the share price at execution of the options. A derivative option liability was initially recorded at 31 December 2020 due to the uncertain number of shares which will be issued under the agreement, which is subsequently remeasured at fair value through the Consolidated Income Statement. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 177

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S 23 FINANCIAL INSTRUMENTS CONTINUED TR Borrowings continued A Derivative option over own shares continued TE G I The warrants can be exercised from 1 July 2021 through to 7 December 2027. The issuance of debt with attached warrants required the Group to assess C separately the fair value of the warrants and the debt. The fair value of the warrants was determined using a binomial model used to predict the behaviour R E of the warrant holders and when they might exercise their holdings. The derivative option liability was initially recognised as a derivative forward at fair value P O with changes in the fair value being recognised in the Consolidated Income Statement until issuance of the warrants on 7 December 2020 resulting in an R initial valuation of £34.6m. Upon issuance of the $335m SSNs, the carrying value of the debt was reduced by the same amount. The debt will be increased T via an effective interest charge over the term of the SSNs. During the year ended 31 December 2023, changes to the fair value of the derivative option have resulted in a debit to the Consolidated Income Statement of £19.0m (2022: £8.4m credit to the Consolidated Income Statement) which is presented in G adjusting items. A total of 29,969,927 (2022: nil warrants) were exercised, resulting in a £18.6m reduction to the liability (2022: no change to the associated O liability). VE R NAN Interest rate risk C The Group is exposed interest rate risk on the RCF attached to the SSNs and on the bilateral RCF facility with HSBC when drawn, whereby Chinese renminbi E have been deposited in a restricted account with HSBC in China in exchange for a sterling overdraft facility with HSBC in the UK. The interest rate charged on both facilities is based on SONIA and compounded in arrears. F I Profile NAN At 31 December the interest rate profile of the Group’s interest-bearing financial instruments was: C 2023 2022 IAL £m £m S Fixed rate instruments T A T Financial liabilities 980.3 1,104.0 E M E N T Variable rate instruments S Financial liabilities 89.4 107.1 F U The SSNs, are at fixed interest rates. The rate of interest on the RCF, which is attached to the SSNs, and the bilateral RCF are based on SONIA plus a R T percentage spread. As SONIA varies on a daily basis both the RCF and bilateral RCF are considered to be variable rate instruments. The bilateral is now H E drawn as at 31 December 2023. R INF In 2023 and 2022, the Group entered into an inventory repurchase arrangement (not included within the financial liabilities noted above). The interest charged on this arrangement is determined as the difference between the sales and repurchase value and is therefore fixed at the time of entering into OR the arrangement. The repayment terms of this arrangement are not in excess of 270 days. M A T I Surplus cash funds, when appropriate, are placed on deposit and attract interest at variable rates. ON Interest rate risks – sensitivity The following table demonstrates the sensitivity, with all other variables held constant, of the Group’s loss after tax to a reasonably possible change in interest rates on the bilateral RCF with HSBC and the RCF attached to the SSNs. 2023 2022 £m £m Increase/ Effect Effect (decrease) in on loss on loss interest rate after tax after tax SONIA (3.0%) (2.1) (2.6) SONIA 3.0% 2.1 2.6 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 178

NOTES TO THE FINANCIAL STATEMENTS CONTINUED S S 23 FINANCIAL INSTRUMENTS CONTINUED TR23 FINANCIAL INSTRUMENTS CONTINUED TR Borrowings continued AForeign currency exposure A Derivative option over own shares continued TEThe Group’s exposure to the risk of changes in foreign currency exchange relates primarily to US dollar sales (including inter-Group sales), Chinese renminbi TE G G I I The warrants can be exercised from 1 July 2021 through to 7 December 2027. The issuance of debt with attached warrants required the Group to assess Csales, Japanese yen sales and Euro denominated purchases. C separately the fair value of the warrants and the debt. The fair value of the warrants was determined using a binomial model used to predict the behaviour R R E At 31 December 2023, the Group hedged 25% for 2024 (2022: 29% for 2023) of its US dollar denominated highly probable inter-Group sales, 53% for 2024 E of the warrant holders and when they might exercise their holdings. The derivative option liability was initially recognised as a derivative forward at fair value P P O of its Japanese yen sales (2022: 19% for 2023) and 0% of its Euro denominated purchases for 2024 (2022: 15% for 2023). These foreign currency risks are O with changes in the fair value being recognised in the Consolidated Income Statement until issuance of the warrants on 7 December 2020 resulting in an R R initial valuation of £34.6m. Upon issuance of the $335m SSNs, the carrying value of the debt was reduced by the same amount. The debt will be increased Thedged by using foreign currency forward contracts. T via an effective interest charge over the term of the SSNs. During the year ended 31 December 2023, changes to the fair value of the derivative option have The Group’s sterling equivalents of financial assets and liabilities (excluding borrowings analysed by currency above) denominated in foreign currencies at resulted in a debit to the Consolidated Income Statement of £19.0m (2022: £8.4m credit to the Consolidated Income Statement) which is presented in G31 December were: G adjusting items. A total of 29,969,927 (2022: nil warrants) were exercised, resulting in a £18.6m reduction to the liability (2022: no change to the associated O O liability). VE Chinese VE R Euros US dollars renminbi Japanese yen Other Total R NAN At 31 December 2023 £m £m £m £m £m £m NAN Interest rate risk Financial assets C C The Group is exposed interest rate risk on the RCF attached to the SSNs and on the bilateral RCF facility with HSBC when drawn, whereby Chinese renminbi ETrade and other receivables 94.8 22.2 38.8 41.2 17.2 214.2 E have been deposited in a restricted account with HSBC in China in exchange for a sterling overdraft facility with HSBC in the UK. The interest rate charged on Foreign currency contracts – 3.3 – – – 3.3 both facilities is based on SONIA and compounded in arrears. Cash balances 38.7 166.5 21.6 15.9 6.5 249.2 F F I I Profile NAN 133.5 192.0 60.4 57.1 23.7 466.7 NAN At 31 December the interest rate profile of the Group’s interest-bearing financial instruments was: C Financial liabilities C 2023 2022 IAL Trade and other payables (172.5) (274.0) (27.6) (16.3) (11.6) (502.0) IAL £m £m S Lease liabilities (2.0) (7.7) (0.3) (3.4) – (13.4) S Fixed rate instruments T T A A T Customer deposits and advances (33.8) (54.6) (5.6) (7.4) (8.7) (110.1) T Financial liabilities 980.3 1,104.0 E E M Foreign currency contracts – – – (2.1) – (2.1) M E E N (208.3) (336.3) (33.5) (29.2) (20.3) (627.6) N T T Variable rate instruments SNet balance sheet exposure (74.8) (144.3) 26.9 27.9 3.4 (160.9) S Financial liabilities 89.4 107.1 F F U Chinese U The SSNs, are at fixed interest rates. The rate of interest on the RCF, which is attached to the SSNs, and the bilateral RCF are based on SONIA plus a R R T Euros US dollars renminbi Japanese yen Other Total T percentage spread. As SONIA varies on a daily basis both the RCF and bilateral RCF are considered to be variable rate instruments. The bilateral is now HAt 31 December 2022 £m £m £m £m £m £m H E E drawn as at 31 December 2023. R R Financial assets INF Trade and other receivables 50.8 21.7 15.2 31.0 11.4 130.1 INF In 2023 and 2022, the Group entered into an inventory repurchase arrangement (not included within the financial liabilities noted above). The interest OR OR charged on this arrangement is determined as the difference between the sales and repurchase value and is therefore fixed at the time of entering into Loan assets 0.2 – – – 0.1 0.3 the arrangement. The repayment terms of this arrangement are not in excess of 270 days. M M A A Foreign currency contracts 0.8 1.5 – – – 2.3 T T I I Surplus cash funds, when appropriate, are placed on deposit and attract interest at variable rates. ONCash held not available for short-term use – – 0.3 – – 0.3 ON Interest rate risks – sensitivity Cash balances 26.1 130.5 59.8 4.5 25.6 246.5 The following table demonstrates the sensitivity, with all other variables held constant, of the Group’s loss after tax to a reasonably possible change in 77.9 153.7 75.3 35.5 37.1 379.5 interest rates on the bilateral RCF with HSBC and the RCF attached to the SSNs. Financial liabilities 2023 2022 Trade and other payables (153.1) (134.3) (34.2) (9.5) (5.4) (336.5) £m £m Lease liabilities (0.1) (9.5) (0.7) (5.0) (0.1) (15.4) Increase/ Effect Effect Customer deposits and advances (17.8) (44.3) (7.6) (4.8) (1.9) (76.4) (decrease) in on loss on loss interest rate after tax after tax Foreign currency contracts – (0.1) – (0.6) – (0.7) SONIA (3.0%) (2.1) (2.6) (171.0) (188.2) (42.5) (19.9) (7.4) (429.0) SONIA 3.0% 2.1 2.6 Net balance sheet exposure (93.1) (34.5) 32.8 15.6 29.7 (49.5) ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 179

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S 23 FINANCIAL INSTRUMENTS CONTINUED TR Foreign currency exposure continued A The following significant exchange rates applied: TE G I C Average rate Average rate Closing rate Closing rate R 2023 2022 2023 2022 E Euro 1.15 1.17 1.15 1.13 P O R Chinese renminbi 8.75 8.26 9.04 8.36 T US dollar 1.23 1.25 1.27 1.20 Japanese yen 172.09 160.24 179.72 158.72 G O VE Currency risk – sensitivity R The following table demonstrates the sensitivity to a change in the US dollar, Euro, Chinese renminbi and Japanese yen exchange rates, with all other NAN variables held constant, of the Group’s result after tax (due to changes in the fair value of monetary assets and liabilities) assuming that none of the US dollar or Euro exposures are used as hedging instruments. C E Effect on result Effect on result (Increase)/ after tax after tax decrease 2023 2022 F I in rate £m £m NAN US dollar (5%) (7.3) (7.8) C US dollar 5% 8.1 8.6 IAL Euro (5%) 8.5 12.5 S T Euro 5% (9.4) (13.8) A T Chinese renminbi (5%) (0.3) (4.3) E M E Chinese renminbi 5% 0.4 4.8 N T Japanese yen (5%) (3.4) (1.7) S Japanese yen 5% 3.8 1.9 F U $1,085.5m and $335m Senior Secured Notes R T In December 2020, the Group took out First Lien and Second Lien SSNs at $1085.5m and $335m, respectively. The Group has not hedged the SSNs since H E inception. Foreign currency gains/(losses) on these SSNs, due to exchange rate movements between the US dollar and sterling, are charged to the R Consolidated Income Statement within finance income/(expense). A corresponding change in the translated sterling value of these SSNs is reflected in the INF Consolidated Statement of Financial Position. In March 2021, the Group issued additional First Lien SSNs of $98.5m. During the year ended 31 December OR 2023, the Group paid down $121.7m of Second Lien SSNs (year ended 31 December 2022: $40.3m of First Lien SSNs and $143.8m of Second Lien SSNs). M A No hedging relationship has been established in 2022 or 2023. T I $400m Senior Secured Notes ON The Group had designated $400m of SSNs as a hedging instrument in respect of $400m of highly probable forecast US dollar sales that are not already hedged with forward contracts. These SSNs were repaid in December 2020 and hedge accounting was discontinued from the date of repayment. As the forecast transactions are still expected to occur, the amount accumulated in the cash flow hedge reserve at the repayment date has been fully released to the Consolidated Income Statement in line with the profile of the US dollar sales to which it related. Hedge accounting The Group is primarily exposed to US dollar currency variations on the sale of vehicles and parts, and Euro currency variations on the purchase of raw material parts and services. As part of its risk management policy, the Group uses derivative financial instruments in the form of currency forward contracts to manage the cash flow risk resulting from these exchange rate movements. The Group had designated the foreign exchange movement on $400m of repaid SSNs as part of a cash flow hedging relationship, to manage the exchange rate risk resulting from forecast US dollar intercompany sales. Together, these are referred to as cash flow hedges. The cash flow hedges give certainty over the transactional values to be recognised in the Consolidated Income Statement, and in the case of the forward contracts, certainty around the value of cash flows arising as foreign currencies are exchanged at predetermined rates. The Group hedges significant foreign currency exposures as follows: – Firstly, when practical, with currency forward contracts on a reducing basis with the highest coverage in the year immediately following the year-end date. When practicable, the Group places additional hedges on a regular basis so that the percentage of the foreign currency exposure hedged increases as the time to maturity of the foreign currency exposure reduces. – Secondly, the Group has designated $400m of repaid SSNs as a hedging instrument in respect of $400m of highly probable forecast US dollar sales that are not already hedged with forward contracts. These SSNs were repaid in December 2020. The Group currently has no active currency forward contract cash flow hedges beyond 2024. The Group does not mitigate all transactional foreign currency exposures, with the unhedged proportion converted at exchange rates prevailing on the date of the transaction. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 180

NOTES TO THE FINANCIAL STATEMENTS CONTINUED S S 23 FINANCIAL INSTRUMENTS CONTINUED TR23 FINANCIAL INSTRUMENTS CONTINUED TR Foreign currency exposure continued AHedge accounting continued A The following significant exchange rates applied: TEDerivative financial instruments TE G G I I C Derivative financial instruments are recorded at fair value. The hedging instruments of the cash flow hedge relationship have been designated as the spot C Average rate Average rate Closing rate Closing rate Relement of forward foreign exchange contract, and the forward points are excluded from the hedge relationship. The hedged items have been designated R 2023 2022 2023 2022 E E Euro 1.15 1.17 1.15 1.13 Pas highly probable forecast net sales or purchases denominated in foreign currencies. P O O R R Chinese renminbi 8.75 8.26 9.04 8.36 TWhere the value of the hedging instrument matches the value of the hedged item in a 1:1 hedge ratio, the hedge is effective, and changes in the fair value T US dollar 1.23 1.25 1.27 1.20 of the hedging instrument attributable to the spot risk are considered an effective hedge and recognised in the cash flow hedge reserve within Other Japanese yen 172.09 160.24 179.72 158.72 Comprehensive Income. Changes in fair value attributable to forward points are recognised in the cost of hedging reserve within Other Comprehensive G G O Income. Where the value of hedging instrument is greater than the value of the hedged item, the excess portion is recognised as the ineffective portion O VE of the gain or loss on the hedging instrument and is recorded immediately in the Consolidated Income Statement. VE Currency risk – sensitivity R R The following table demonstrates the sensitivity to a change in the US dollar, Euro, Chinese renminbi and Japanese yen exchange rates, with all other NANWhen the expected volume of hedged highly probable forecast transactions is lower than the designated volume, and a portion of the hedged item is NAN variables held constant, of the Group’s result after tax (due to changes in the fair value of monetary assets and liabilities) assuming that none of the US dollar no longer highly probable to occur, hedge accounting is discontinued for that portion. If the hedged future cash flows are still expected to occur, then or Euro exposures are used as hedging instruments. C C E the accumulated amount in cash flow hedge reserve relating to the discontinued portion remains in the cash flow hedge reserve until the future cash flows E Effect on result Effect on result occur. If the hedged future cash flows are no longer expected to occur, then that amount is immediately reclassified from the cash flow hedge reserve to the (Increase)/ after tax after tax Consolidated Income Statement as a reclassification adjustment. decrease 2023 2022 F F I I in rate £m £m NAN $400m Senior Secured Notes NAN US dollar (5%) (7.3) (7.8) The $400m SSNs were repaid in December 2020. Prior to repayment they were recorded at amortised cost and translated into sterling at the year-end or C C US dollar 5% 8.1 8.6 IALrepayment date closing rates with movements in the carrying value due to foreign exchange movements offset by movements in the value of the highly IAL Euro (5%) 8.5 12.5 S probable forecast sales when translated from US dollars to sterling. When the hedge ratio is 1:1, the value of the hedging instrument matches the value S T of the hedged item. In this case, the change in the carrying value of these SSNs, arising as a result of exchange differences, is recognised through Other T Euro 5% (9.4) (13.8) A A T T Chinese renminbi (5%) (0.3) (4.3) EComprehensive Income into the hedge reserve instead of within finance income/(expense). E M M E E Chinese renminbi 5% 0.4 4.8 NWhen the value of the hedging instrument is greater than the value of the hedged item, the excess portion is recognised as ineffective and is recorded N T T Japanese yen (5%) (3.4) (1.7) Simmediately to finance expense in the Consolidated Income Statement. S Japanese yen 5% 3.8 1.9 The amounts recorded within the hedge reserve, including the cost of hedging reserve, are reclassified to the Consolidated Income Statement when the F hedged item affects the Consolidated Income Statement. Due to the nature of the hedged items, all amounts reclassified to the Consolidated Income F U U $1,085.5m and $335m Senior Secured Notes RStatement are recorded in cost of sales (2022: all cost of sales), except for ineffective amounts relating to the $400m SSNs which would be recorded as R T T In December 2020, the Group took out First Lien and Second Lien SSNs at $1085.5m and $335m, respectively. The Group has not hedged the SSNs since Hfinance expense in the Consolidated Income Statement. H E E inception. Foreign currency gains/(losses) on these SSNs, due to exchange rate movements between the US dollar and sterling, are charged to the R R Consolidated Income Statement within finance income/(expense). A corresponding change in the translated sterling value of these SSNs is reflected in the INFMain sources of hedge ineffectiveness INF Other than previously described, in relation only to forward contracts designated as a hedge, the main sources of potential hedge ineffectiveness relate to Consolidated Statement of Financial Position. In March 2021, the Group issued additional First Lien SSNs of $98.5m. During the year ended 31 December ORpotential differences in the nominal value of hedged items and the hedging instrument should they occur. OR 2023, the Group paid down $121.7m of Second Lien SSNs (year ended 31 December 2022: $40.3m of First Lien SSNs and $143.8m of Second Lien SSNs). M M A A No hedging relationship has been established in 2022 or 2023. TThe impact of hedging instruments on the Statement of Financial Position is as follows: T I I $400m Senior Secured Notes ON 31 December 2023 31 December 2022 ON The Group had designated $400m of SSNs as a hedging instrument in respect of $400m of highly probable forecast US dollar sales that are not already Change in fair Change in fair hedged with forward contracts. These SSNs were repaid in December 2020 and hedge accounting was discontinued from the date of repayment. As the value used for value used for Notional Carrying measuring Notional Carrying measuring forecast transactions are still expected to occur, the amount accumulated in the cash flow hedge reserve at the repayment date has been fully released value value ineffectiveness value value ineffectiveness to the Consolidated Income Statement in line with the profile of the US dollar sales to which it related. £m £m £m £m £m £m Foreign exchange forward contracts – Hedge accounting other financial assets 94.1 3.3 3.3 96.1 2.3 2.3 The Group is primarily exposed to US dollar currency variations on the sale of vehicles and parts, and Euro currency variations on the purchase of raw Foreign exchange forward contracts – material parts and services. As part of its risk management policy, the Group uses derivative financial instruments in the form of currency forward contracts other financial liabilities 52.9 (2.1) (2.1) 33.1 (0.7) (0.7) to manage the cash flow risk resulting from these exchange rate movements. The Group had designated the foreign exchange movement on $400m of $400m Senior Secured Notes – hedge instrument 75.2 – – 105.6 – – repaid SSNs as part of a cash flow hedging relationship, to manage the exchange rate risk resulting from forecast US dollar intercompany sales. Together, these are referred to as cash flow hedges. The cash flow hedges give certainty over the transactional values to be recognised in the Consolidated Income The impact of hedged items on the Statement of Financial Position is as follows: Statement, and in the case of the forward contracts, certainty around the value of cash flows arising as foreign currencies are exchanged at predetermined rates. The Group hedges significant foreign currency exposures as follows: 31 December 2023 31 December 2022 Cash flow hedge Cost of hedging Cash flow hedge Cost of hedging reserve reserve reserve reserve – Firstly, when practical, with currency forward contracts on a reducing basis with the highest coverage in the year immediately following the year-end £m £m £m £m date. When practicable, the Group places additional hedges on a regular basis so that the percentage of the foreign currency exposure hedged increases Foreign exchange forward contracts 1.9 (0.8) 2.9 (0.9) as the time to maturity of the foreign currency exposure reduces. $400m Senior Secured Notes – hedge instrument – – 3.9 – – Secondly, the Group has designated $400m of repaid SSNs as a hedging instrument in respect of $400m of highly probable forecast US dollar sales that Tax on fair value movements recognised in OCI (0.5) 0.2 (1.8) 0.2 are not already hedged with forward contracts. These SSNs were repaid in December 2020. The Group currently has no active currency forward contract cash flow hedges beyond 2024. The Group does not mitigate all transactional foreign currency exposures, with the unhedged proportion converted at exchange rates prevailing on the date of the transaction. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 181

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S 23 FINANCIAL INSTRUMENTS CONTINUED TR Hedge accounting continued A Main sources of hedge ineffectiveness continued TE G I The effect of the cash flow hedge in the Consolidated Income Statement and Other Comprehensive Income is: C R Amount E Total hedging Ineffectiveness Fair value reclassified P (loss)/gain recognised in the movement from OCI to O R recognised Income Income on cash flow the Income Income T in OCI Statement Statement hedges Statement Statement Year ended 31 December 2023 £m £m line item £m £m line item Foreign exchange forward contracts (0.8) – Cost of sales 0.7 (1.5) Cost of sales G $400m Senior Secured Notes – hedge instrument (3.9) – Cost of sales – (3.9) Cost of sales O Tax on fair value movements recognised in OCI 1.2 – – (0.2) 1.4 – VE R NAN Amount C Total hedging Fair value reclassified E gain/(loss) Ineffectiveness movement from OCI to recognised recognised in the Income on cash flow the Income Income in OCI Income Statement Statement hedges Statement Statement Year ended 31 December 2022 £m £m line item £m £m line item F I Foreign exchange forward contracts 1.7 (0.3) Cost of sales (6.1) 7.8 Cost of sales NAN $400m Senior Secured Notes – hedge instrument (4.9) – Cost of sales – (4.9) Cost of sales C IAL Tax on fair value movements recognised in OCI 0.9 – – 1.5 (0.7) – S T A Hedge ineffectiveness recognised within the Consolidated Income Statement relates to differences in the nominal value of the hedged items and the T E hedging instrument. At 31 December 2023 and 2022, there were no balances remaining in the cash flow hedge reserve from hedging relationships for M E which hedge accounting is no longer required. N T All hedging instruments recognised by the Group at 31 December 2023 have a maturity date of less than one year. S Liquidity risk F The Group seeks to manage liquidity risk to ensure sufficient liquidity is available to meet foreseeable needs and, when appropriate, allow placement of U R T cash on deposit safely and profitably. During 2023, the Group undertook a share placing and retail offer to strengthen the liquidity of the business. H E R At 31 December 2022, the Group had entered into a bilateral revolving credit facility with HSBC Bank plc (“HSBC”), whereby Chinese Renminbi were INF deposited in a restricted account with HSBC in China in exchange for a £30.0m Sterling overdraft facility with HSBC Bank plc in the United Kingdom. The restricted cash was revalued at 31 December 2022 to £32.8m and is shown in the cash and cash equivalents. At 31 December 2022, the facility of £30.0m OR was shown within borrowings in current liabilities on the Statement of Financial Position. During the year ended 31 December 2023, the bilateral revolving M A credit facility was repaid. The facility remains available until 31 August 2025 and the total facility size is £50m. T I ON At 31 December 2023 the Group held £972.7m of SSNs (2022: £1,104.0m). In November 2023, the Group repurchased $121.7m of Second Lien SSNs. In October 2022 the Group repurchased $40.3m of First Lien SSNs and $143.8m of Second Lien SSNs. The premium paid on redemption was £8.0m (2022: £14.3m). The First Lien Notes are repayable in November 2025 and the Second Lien Notes in November 2026. The portion of unamortised fees and the redemption premium was charged to the Consolidated Income Statement at the point of redemption as an accelerated charge and presented within adjusting items (note 5). Transaction costs of £Nil (2022: £1.9m) relating to the repurchase are included in adjusting items (note 5). The US dollar amounts have been converted to sterling equivalents for reporting purposes. Attached to the SSNs is a £99.6m (2022: £90.6m) RCF of which £90.0m (2022: £78.5m) was drawn in cash at the reporting date. The amount recorded in the Statement of Financial Position is net of unamortised transaction costs. £4.4m (2022: £5.2m) of the remaining ancillary facility has been utilised through the issuance of letters of credit and guarantees. The RCF attached to the SSNs is available until August 2025. As part of the normal operating cycle of the Group, customers make advanced payments to secure their allocation of Special Vehicles produced in limited numbers. The cash from these advance payments is primarily used to fund upfront costs of the Special Vehicle project, including raw materials and components required in manufacture. In certain circumstances, according to the individual terms of the Special Vehicle contract and the position of the customer in the staged deposit and vehicle specification process, the advanced payments are contractually refundable. At 31 December 2023, the Group held refundable deposits of £132.8m (2022: £102.9m). The Special Vehicle programmes are typically oversubscribed and, in the event that a customer requests reimbursement of their advanced payment, the newly created allocation is then given to an alternative customer, who is required to make an equivalent advanced payment. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 182

NOTES TO THE FINANCIAL STATEMENTS CONTINUED S S 23 FINANCIAL INSTRUMENTS CONTINUED TR23 FINANCIAL INSTRUMENTS CONTINUED TR Hedge accounting continued ALiquidity risk continued A Main sources of hedge ineffectiveness continued TEThe maturity profile of the Group’s financial liabilities at 31 December 2023 based on contractual undiscounted payments, was as follows. TE G G I I The effect of the cash flow hedge in the Consolidated Income Statement and Other Comprehensive Income is: C C R Less than 3 3 to 12 1 to 5 Contractual Cash R On demand months months years >5 years Flows Total Amount E £m £m £m £m £m £m E Total hedging Ineffectiveness Fair value reclassified P P (loss)/gain recognised in the movement from OCI to O O R Non-derivative financial liabilities R recognised Income Income on cash flow the Income Income T T in OCI Statement Statement hedges Statement Statement Bank loans and overdrafts – 90.6 – – – 90.6 Year ended 31 December 2023 £m £m line item £m £m line item Senior Secured Notes – – 102.8 1,133.9 – 1,236.7 Foreign exchange forward contracts (0.8) – Cost of sales 0.7 (1.5) Cost of sales GTrade and other payables – 441.5 120.2 79.5 0.8 642.0 G $400m Senior Secured Notes – hedge instrument (3.9) – Cost of sales – (3.9) Cost of sales O O Tax on fair value movements recognised in OCI 1.2 – – (0.2) 1.4 – VERefundable customer deposits and advances 132.8 – – – – 132.8 VE R R NAN NAN Derivative financial liabilities Amount C C Total hedging Fair value reclassified EForward exchange contracts – 0.3 1.8 – – 2.1 E gain/(loss) Ineffectiveness movement from OCI to 132.8 532.4 224.8 1,213.4 0.8 2,104.2 recognised recognised in the Income on cash flow the Income Income in OCI Income Statement Statement hedges Statement Statement Year ended 31 December 2022 £m £m line item £m £m line item F F I I Foreign exchange forward contracts 1.7 (0.3) Cost of sales (6.1) 7.8 Cost of sales NANIncluded in the tables above and below are interest bearing loans and borrowings at a carrying value of £1,061.8m (2022: £1,211.1m). The liquidity profile NAN associated with leases accounted under IFRS 16 is detailed in note 16. $400m Senior Secured Notes – hedge instrument (4.9) – Cost of sales – (4.9) Cost of sales C C IAL The maturity profile of the Group’s financial liabilities at 31 December 2022 based on contractual undiscounted payments, was as follows. IAL Tax on fair value movements recognised in OCI 0.9 – – 1.5 (0.7) – S Less than 3 3 to 12 1 to 5 Contractual Cash S T T A On demand months months years >5 years Flows Total A Hedge ineffectiveness recognised within the Consolidated Income Statement relates to differences in the nominal value of the hedged items and the T £m £m £m £m £m £m T E E hedging instrument. At 31 December 2023 and 2022, there were no balances remaining in the cash flow hedge reserve from hedging relationships for M M Non-derivative financial liabilities E E which hedge accounting is no longer required. N N T Bank loans and overdrafts – 109.0 – – – 109.0 T All hedging instruments recognised by the Group at 31 December 2023 have a maturity date of less than one year. S S Senior Secured Notes – – 117.0 1,462.4 – 1,579.4 Liquidity risk Trade and other payables – 443.1 138.1 8.6 0.6 590.4 F F U U The Group seeks to manage liquidity risk to ensure sufficient liquidity is available to meet foreseeable needs and, when appropriate, allow placement of Refundable customer deposits and advances 102.9 – – – – 102.9 R R T T H H cash on deposit safely and profitably. During 2023, the Group undertook a share placing and retail offer to strengthen the liquidity of the business. E E R R Derivative financial liabilities At 31 December 2022, the Group had entered into a bilateral revolving credit facility with HSBC Bank plc (“HSBC”), whereby Chinese Renminbi were INFForward exchange contracts – 0.5 0.2 – – 0.7 INF deposited in a restricted account with HSBC in China in exchange for a £30.0m Sterling overdraft facility with HSBC Bank plc in the United Kingdom. The OR OR restricted cash was revalued at 31 December 2022 to £32.8m and is shown in the cash and cash equivalents. At 31 December 2022, the facility of £30.0m 102.9 552.6 255.3 1,471.0 0.6 2,382.4 was shown within borrowings in current liabilities on the Statement of Financial Position. During the year ended 31 December 2023, the bilateral revolving M M A A credit facility was repaid. The facility remains available until 31 August 2025 and the total facility size is £50m. T T I I ON ON At 31 December 2023 the Group held £972.7m of SSNs (2022: £1,104.0m). In November 2023, the Group repurchased $121.7m of Second Lien SSNs. In October 2022 the Group repurchased $40.3m of First Lien SSNs and $143.8m of Second Lien SSNs. The premium paid on redemption was £8.0m (2022: £14.3m). The First Lien Notes are repayable in November 2025 and the Second Lien Notes in November 2026. The portion of unamortised fees and the redemption premium was charged to the Consolidated Income Statement at the point of redemption as an accelerated charge and presented within adjusting items (note 5). Transaction costs of £Nil (2022: £1.9m) relating to the repurchase are included in adjusting items (note 5). The US dollar amounts have been converted to sterling equivalents for reporting purposes. Attached to the SSNs is a £99.6m (2022: £90.6m) RCF of which £90.0m (2022: £78.5m) was drawn in cash at the reporting date. The amount recorded in the Statement of Financial Position is net of unamortised transaction costs. £4.4m (2022: £5.2m) of the remaining ancillary facility has been utilised through the issuance of letters of credit and guarantees. The RCF attached to the SSNs is available until August 2025. As part of the normal operating cycle of the Group, customers make advanced payments to secure their allocation of Special Vehicles produced in limited numbers. The cash from these advance payments is primarily used to fund upfront costs of the Special Vehicle project, including raw materials and components required in manufacture. In certain circumstances, according to the individual terms of the Special Vehicle contract and the position of the customer in the staged deposit and vehicle specification process, the advanced payments are contractually refundable. At 31 December 2023, the Group held refundable deposits of £132.8m (2022: £102.9m). The Special Vehicle programmes are typically oversubscribed and, in the event that a customer requests reimbursement of their advanced payment, the newly created allocation is then given to an alternative customer, who is required to make an equivalent advanced payment. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 183

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S 23 FINANCIAL INSTRUMENTS CONTINUED TR Estimation of fair values A As at 31 December 2023 As at 31 December 2022 TE G Nominal value Book value Fair value Nominal value Book value Fair value I C £m £m £m £m £m £m R E Included in assets P O Level 2 R T Forward foreign exchange contracts – 3.3 3.3 – 2.3 2.3 Loan assets – – – 0.6 0.6 0.6 G Level 3 O VE Investments – 18.2 18.2 – – – R Other derivative contracts – – – – 5.6 5.6 NAN – 21.5 21.5 0.6 8.5 8.5 C E Included in liabilities Level 1 F I $1,143.7m (2022: $1,143.7m) 10.5% US dollar NAN First Lien Notes 897.2 890.0 906.7 950.8 935.0 893.0 C $121.7m (2022: $229.1m) 15.0% US dollar IAL S Second Lien Split Coupon Notes 95.4 90.3 103.6 190.5 169.0 194.4 T A T E Level 2 M E Forward exchange contracts – 2.1 2.1 – 0.7 0.7 N T Derivative option over own shares 33.1 23.1 23.1 48.1 22.6 22.6 S 1,025.7 1,005.5 1,035.5 1,189.4 1,127.3 1,110.7 F U The nominal value, book value and fair value of the Second Lien SSNs includes $9.8m, $10.5m, $10.8m, $6.8m, $7.0m and $7.2m of PIK notes issued in April 2021, November 2021, April 2022, R T November 2022, April 2023 and November 2023 respectively. The total number of Second Lien SSNs in issuance has been reduced by repayments of $143.8m and $121.7m in 2022 and 2023 H respectively. The book value includes accrued PIK notes not issued at each reporting date. E R Under IFRS 7, such assets and liabilities are classified by the way in which their fair value is calculated. The interest-bearing loans and borrowings are INF considered to be level 1 liabilities with forward exchange contracts being level 2 assets and liabilities. IFRS 7 defines each level as follows: OR M – Level 1 assets and liabilities have inputs observable through quoted prices. A T I – Level 2 assets and liabilities have inputs observable, other than quoted prices, either directly (i.e. as prices) or indirectly (i.e. derived from prices). ON – Level 3 assets and liabilities are those with inputs not based on observable market data. Trade and other receivables, current borrowings and trade and other payables are deemed to have the same fair value as their book value and, as such, the table above only includes assets and liabilities held at fair value, and borrowings. The forward currency contracts are carried at fair value based on pricing models and discounted cash flow techniques derived from assumptions provided by third-party banks. Loan assets are held at cost less any expected credit loss provision (note 18). The SSNs are all valued at amortised cost retranslated at the year-end foreign exchange rate. The fair value of these SSNs at the current and comparative period ends are determined by reference to the quoted price on The International Stock Exchange Authority in St Peter Port, Guernsey. The fair value and nominal value exclude the impact of transaction costs. The other derivative contracts related to one option and one issuable derivative for the Group to acquire a minority shareholding in AMR GP Holdings Limited (see note 20). Two derivatives were exercised in the period giving rise to an investment (note 15). The derivative option over own shares reflects the detachable warrants issued alongside the Second Lien SSNs (see borrowings section of note 23) enabling the warrant holders to subscribe for a number of ordinary shares in the Company. The fair value is calculated using a binomial model and updated at each period end, reflecting the latest market conditions. The inputs used in the valuation model include the quoted share price, market volatility, exercise ratio and risk-free rate. The reduction in nominal value represents options exercised by warrant holders during the year. For all other receivables and payables, the carrying amount is deemed to reflect the fair value. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 184

NOTES TO THE FINANCIAL STATEMENTS CONTINUED S S 23 FINANCIAL INSTRUMENTS CONTINUED TR23 FINANCIAL INSTRUMENTS CONTINUED TR Estimation of fair values ACapital management A As at 31 December 2023 As at 31 December 2022 TEThe Board’s policy is to maintain a strong capital base so as to maintain investor and creditor confidence and to sustain the future development of the TE G G Nominal value Book value Fair value Nominal value Book value Fair value I I C business. Given this, the objective of the Group’s capital management is to ensure that it maintains healthy capital ratios in order to support its business and C £m £m £m £m £m £m Rmaximise shareholder value. The capital structure of the Group consists of debt which includes the borrowings disclosed in this note, cash and cash R E E Included in assets P equivalents and equity attributable to equity holders of the parent, comprising share capital and reserves as disclosed in the Consolidated Statement of P O O Level 2 R Changes in Equity. R T T Forward foreign exchange contracts – 3.3 3.3 – 2.3 2.3 Loan assets – – – 0.6 0.6 0.6 24 NET DEBT The Group defines net debt as current and non-current borrowings in addition to inventory repurchase arrangements and lease liabilities, less cash and cash G G Level 3 O equivalents including cash held not available for short-term use. The additional cash flow disclosures required under IAS 7 are made in note 28. O VE VE Investments – 18.2 18.2 – – – 2023 2022 R R Other derivative contracts – – – – 5.6 5.6 £m £m NAN NAN – 21.5 21.5 0.6 8.5 8.5 Cash and cash equivalents 392.4 583.3 C Cash held not available for short-term use – 0.3 C E Inventory repurchase arrangement (39.7) (38.2) E Included in liabilities Level 1 Lease liabilities – current (8.8) (7.4) F F I I $1,143.7m (2022: $1,143.7m) 10.5% US dollar NANLease liabilities – non-current (88.5) (92.4) NAN First Lien Notes 897.2 890.0 906.7 950.8 935.0 893.0 Loans and other borrowings – current (89.4) (107.1) C C $121.7m (2022: $229.1m) 15.0% US dollar IALLoans and other borrowings – non-current (980.3) (1,104.0) IAL S S Second Lien Split Coupon Notes 95.4 90.3 103.6 190.5 169.0 194.4 Net debt (814.3) (765.5) T T A A T T E E Level 2 M Movement in net debt M E E Forward exchange contracts – 2.1 2.1 – 0.7 0.7 N Net (decrease)/increase in cash and cash equivalents (190.9) 164.4 N T T Derivative option over own shares 33.1 23.1 23.1 48.1 22.6 22.6 S Add back cash flows in respect of other components of net debt: S 1,025.7 1,005.5 1,035.5 1,189.4 1,127.3 1,110.7 New borrowings (11.5) – F Proceeds from inventory repurchase arrangement (38.0) (75.7) F U U The nominal value, book value and fair value of the Second Lien SSNs includes $9.8m, $10.5m, $10.8m, $6.8m, $7.0m and $7.2m of PIK notes issued in April 2021, November 2021, April 2022, R R T Repayment of existing borrowings 129.7 172.7 T November 2022, April 2023 and November 2023 respectively. The total number of Second Lien SSNs in issuance has been reduced by repayments of $143.8m and $121.7m in 2022 and 2023 H H respectively. The book value includes accrued PIK notes not issued at each reporting date. ERepayment of inventory repurchase arrangement 40.0 60.0 E R R Under IFRS 7, such assets and liabilities are classified by the way in which their fair value is calculated. The interest-bearing loans and borrowings are INFLease liability payments 7.9 10.0 INF considered to be level 1 liabilities with forward exchange contracts being level 2 assets and liabilities. IFRS 7 defines each level as follows: ORMovement in cash held not available for short-term use (0.3) (1.5) OR M (Increase)/decrease in net debt arising from cash flows (63.1) 329.9 M – Level 1 assets and liabilities have inputs observable through quoted prices. A A T Non-cash movements: T I I – Level 2 assets and liabilities have inputs observable, other than quoted prices, either directly (i.e. as prices) or indirectly (i.e. derived from prices). ONForeign exchange gain/(loss) on secured loan 60.8 (156.2) ON – Level 3 assets and liabilities are those with inputs not based on observable market data. Interest added to debt (14.2) (15.7) Trade and other receivables, current borrowings and trade and other payables are deemed to have the same fair value as their book value and, as such, the Borrowing fee amortisation (26.9) (25.4) table above only includes assets and liabilities held at fair value, and borrowings. The forward currency contracts are carried at fair value based on pricing Lease liability interest charge (4.1) (4.5) models and discounted cash flow techniques derived from assumptions provided by third-party banks. Loan assets are held at cost less any expected credit loss provision (note 18). The SSNs are all valued at amortised cost retranslated at the year-end foreign exchange rate. The fair value of these SSNs at the Lease modifications (0.6) (3.5) current and comparative period ends are determined by reference to the quoted price on The International Stock Exchange Authority in St Peter Port, New leases (5.8) (2.2) Guernsey. The fair value and nominal value exclude the impact of transaction costs. Foreign exchange gain and other movements 5.1 3.7 The other derivative contracts related to one option and one issuable derivative for the Group to acquire a minority shareholding in AMR GP Holdings (Increase)/decrease in net debt (48.8) 126.1 Limited (see note 20). Two derivatives were exercised in the period giving rise to an investment (note 15). Net debt at beginning of the year (765.5) (891.6) The derivative option over own shares reflects the detachable warrants issued alongside the Second Lien SSNs (see borrowings section of note 23) enabling Net debt at the end of the year (814.3) (765.5) the warrant holders to subscribe for a number of ordinary shares in the Company. The fair value is calculated using a binomial model and updated at each period end, reflecting the latest market conditions. The inputs used in the valuation model include the quoted share price, market volatility, exercise ratio and risk-free rate. The reduction in nominal value represents options exercised by warrant holders during the year. For all other receivables and payables, the carrying amount is deemed to reflect the fair value. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 185

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S 25 PROVISIONS TR 2023 2022 A £m £m TE Warranty Total Restructuring Warranty Total G I C At the beginning of the year 41.1 41.1 0.4 38.5 38.9 R Charge for the year 29.7 29.7 – 30.9 30.9 E P O Utilisation (27.4) (27.4) (0.4) (26.5) (26.9) R Effect of movements in exchange rates 0.7 0.7 – (1.5) (1.5) T Release to the Income Statement (0.2) (0.2) – (0.3) (0.3) At the end of the year 43.9 43.9 – 41.1 41.1 G O VE R NAN Analysed as: Current 20.2 20.2 – 18.6 18.6 C Non-current 23.7 23.7 – 22.5 22.5 E 43.9 43.9 – 41.1 41.1 F I In the year ended 31 December 2020, the Group launched a consultation process to reduce employee numbers reflecting lower than originally planned NAN production volumes resulting in an exceptional charge to the Consolidated Income Statement in 2020. The restructuring was substantially completed C during 2021, with the final amounts being utilised during the year ended 31 December 2022. IAL The warranty provision is calculated based on the level of historical claims and is expected to be substantially utilised within the next three years. S T A 26 PENSION OBLIGATIONS T E Defined contribution scheme M E The Group opened a Defined Contribution scheme in June 2011. The total expense relating to this scheme in the year ended 31 December 2023 was N T £20.9m (2022: £17.6m). Outstanding contributions at the 31 December 2023 were £1.9m (2022: £1.5m). Contributions are made by the Group to other S pension arrangements for certain employees of the Group. F Defined Benefit scheme U R The Group operates a Defined Benefit Pension Scheme. During 2017, it was agreed and communicated to its members that the scheme’s benefits would be T H amended from a final pensionable salary basis to a career average revalued earnings (CARE) basis with effect from 1 January 2018. The scheme was closed E R to new entrants on 31 May 2011. The benefits of the existing members were not affected by the closure of the scheme. The assets of the scheme are held INF separately from those of the Group. On 31 January 2022, the scheme was closed to future accrual resulting in a curtailment loss of £2.8m (note 5). OR In constructing the investment strategy for the scheme, the Trustees take due account of the liability profile of the scheme along with the level of disclosed M surplus or deficit. The investment strategy is reviewed on a regular basis and, at a minimum, on a triennial basis to coincide with actuarial valuations. The A T I primary objectives are to provide security for all beneficiaries and to achieve long-term growth sufficient to finance any pension increases and ensure the ON residual cost is held at a reasonable level. The pension scheme operates under the regulatory framework of the Pensions Act 2004. The Trustee has the primary responsibility for governance of the scheme. Benefit payments are from Trustee-administered funds and scheme assets are held in a Trust which is governed by UK regulation. The Trustee comprises representatives of the Group and members of the scheme and an independent, professional Trustee was appointed during 2019. The pension scheme exposes the Group to the following risks: – Asset volatility – the scheme’s Statement of Investment Principles targets around 22% return-enhancing assets and 78% risk-reducing assets. The Trustee monitors the appropriateness of the scheme’s investment strategy, in consultation with the Group, on an ongoing basis. – Inflation risk – the majority of benefits are linked to inflation and so increases in inflation will lead to higher liabilities (although in most cases there are caps in place which protect against extreme inflation). – Longevity – increases in life expectancy will increase the period over which benefits are expected to be payable, which increases the value placed on the scheme’s liabilities. – Changes in bond yields – A decrease in corporate bond yields will increase the value placed on the Scheme liabilities, although this will be partially offset by an increase in the value of the Scheme’s bond holdings. The projected unit method has been used to determine the liabilities. The pension cost is assessed in accordance with the advice of an independent qualified actuary. The latest completed actuarial valuation of the scheme had an effective date of 6 April 2020. The assumptions that make the most significant effect on the valuation are those relating to the rate of return on investments, the rate of increase in salaries and pensions and expected longevity. It was assumed that the investment return would be based on the Bank of England gilt curve plus 0.5% per annum and that salary increases would be equivalent to CPI inflation plus 1.0% per annum. At the 6 April 2020 actuarial valuation, the actuarial value of the scheme assets was £314.6m, sufficient to cover 76% of the benefits which had accrued to members. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 186

NOTES TO THE FINANCIAL STATEMENTS CONTINUED S S 25 PROVISIONS TR 26 PENSION OBLIGATIONS CONTINUED TR 2023 2022 A Defined Benefit scheme continued A £m £m TE On 18 December 2020, the Group agreed to increase the recovery plan contributions from £7.1m per annum to £15.0m per annum effective from TE Warranty Total Restructuring Warranty Total G G I I C 1 January 2021 through to 30 June 2027. Estimated contributions for the year ending 31 December 2024 are £15.0m, although this is subject to C At the beginning of the year 41.1 41.1 0.4 38.5 38.9 Rconsideration as part of the 6 April 2023 valuation, due by July 2024. R Charge for the year 29.7 29.7 – 30.9 30.9 E E P P O The 6 April 2020 valuation was updated by an independent qualified actuary to 31 December 2022 for the 2022 year-end disclosures in accordance with O Utilisation (27.4) (27.4) (0.4) (26.5) (26.9) R R Effect of movements in exchange rates 0.7 0.7 – (1.5) (1.5) TIAS 19R. The initial results of the 6 April 2023 valuation were updated by an independent qualified actuary to 31 December 2023 for the 2023 year-end T disclosures in accordance with IAS 19R. The ongoing valuation as at 6 April 2023 is due to be completed by July 2024 in line with the scheme-specific Release to the Income Statement (0.2) (0.2) – (0.3) (0.3) funding requirements of the Pensions Act 2004. As part of that valuation the Trustee and the Group will review the adequacy of the contributions being At the end of the year 43.9 43.9 – 41.1 41.1 G G O paid into the scheme. O VE VE R Following the High Court ruling in the case of Virgin Media Limited v NTL Pension Trustees II Limited and others in June 2023, it was held that section 37 R NAN NAN Analysed as: of the Pension Schemes Act 1993 operates to make void any amendment to the rules of a contracted out pension scheme without written actuarial Current 20.2 20.2 – 18.6 18.6 confirmation under Regulation 42(2) of the Occupational Pension Schemes (Contracting Out) Regulations 1996, in so far that the amendment relates C C Non-current 23.7 23.7 – 22.5 22.5 Eto members’ section 9(2B) rights. An appeal is due to be heard on 26 June 2024 which, it is hoped, will provide further clarity on the issue. E 43.9 43.9 – 41.1 41.1 The Trustees of the Scheme and the Plan (collectively the “Pension Schemes”) have confirmed that; F F I I In the year ended 31 December 2020, the Group launched a consultation process to reduce employee numbers reflecting lower than originally planned NAN– The Pension Schemes were contracted out of the additional state pension between 1997 and 2016; and NAN production volumes resulting in an exceptional charge to the Consolidated Income Statement in 2020. The restructuring was substantially completed – It was possible that amendments were made to the Pension Schemes that may have impacted on the members’ section 9(2B) rights. C C during 2021, with the final amounts being utilised during the year ended 31 December 2022. IALThe Trustees of the Pension Schemes and the Directors work closely together and take appropriate legal and professional advice when making IAL The warranty provision is calculated based on the level of historical claims and is expected to be substantially utilised within the next three years. Samendments to the Pension Schemes. However, at 31 December 2023, it is not currently possible to determine whether any amendments to section 9(2B) S T T A rights were made to the Pension Schemes that were not in accordance with section 37 of the Pension Schemes Act 1993 requirements. Further, it is not A 26 PENSION OBLIGATIONS T T E currently possible to reliably estimate the possible impact to the defined benefit obligations of the Pension Schemes if these amendments were not in E Defined contribution scheme M M E accordance with section 37 of the Pension Schemes Act 1993 requirements. E The Group opened a Defined Contribution scheme in June 2011. The total expense relating to this scheme in the year ended 31 December 2023 was N N T T £20.9m (2022: £17.6m). Outstanding contributions at the 31 December 2023 were £1.9m (2022: £1.5m). Contributions are made by the Group to other SAssumptions S pension arrangements for certain employees of the Group. The principal assumptions used by the actuary were: F 31 December 31 December F Defined Benefit scheme U 2023 2022 U R R The Group operates a Defined Benefit Pension Scheme. During 2017, it was agreed and communicated to its members that the scheme’s benefits would be T T H Discount rate 4.7% 4.85% H amended from a final pensionable salary basis to a career average revalued earnings (CARE) basis with effect from 1 January 2018. The scheme was closed E E R Rate of increase in salaries N/A N/A R to new entrants on 31 May 2011. The benefits of the existing members were not affected by the closure of the scheme. The assets of the scheme are held INFRate of revaluation in deferment 2.4% 2.45% INF separately from those of the Group. On 31 January 2022, the scheme was closed to future accrual resulting in a curtailment loss of £2.8m (note 5). OR Rate of increase in pensions in payment attracting Limited Price Indexation 2.85% 2.95% OR In constructing the investment strategy for the scheme, the Trustees take due account of the liability profile of the scheme along with the level of disclosed MExpected return on scheme assets 4.7% 4.85% M surplus or deficit. The investment strategy is reviewed on a regular basis and, at a minimum, on a triennial basis to coincide with actuarial valuations. The A A T T I RPI Inflation assumption 2.9% 3.00% I primary objectives are to provide security for all beneficiaries and to achieve long-term growth sufficient to finance any pension increases and ensure the ONCPI Inflation assumption 2.4% 2.45% ON residual cost is held at a reasonable level. The pension scheme operates under the regulatory framework of the Pensions Act 2004. The Trustee has the primary responsibility for governance of the The Group’s inflation assumption reflects its long-term expectations and has not been amended for short-term variability. The mortality assumptions allow scheme. Benefit payments are from Trustee-administered funds and scheme assets are held in a Trust which is governed by UK regulation. The Trustee for expected increases in longevity. The ‘current’ disclosures below relate to assumptions based on the longevity (in years) following retirement at each comprises representatives of the Group and members of the scheme and an independent, professional Trustee was appointed during 2019. reporting date, with “future” relating to an employee retiring in 2043 (2023 assumptions) or 2042 (2022 assumptions). The pension scheme exposes the Group to the following risks: Projected life expectancy at age 65 – Asset volatility – the scheme’s Statement of Investment Principles targets around 22% return-enhancing assets and 78% risk-reducing assets. The Trustee Future Current Future Current monitors the appropriateness of the scheme’s investment strategy, in consultation with the Group, on an ongoing basis. Currently Currently Currently Currently aged 45 aged 65 aged 45 aged 65 – Inflation risk – the majority of benefits are linked to inflation and so increases in inflation will lead to higher liabilities (although in most cases there are 2023 2023 2022 2022 caps in place which protect against extreme inflation). Male 22.3 21.1 22.5 21.3 – Longevity – increases in life expectancy will increase the period over which benefits are expected to be payable, which increases the value placed on the Female 25.1 23.7 25.3 23.9 scheme’s liabilities. – Changes in bond yields – A decrease in corporate bond yields will increase the value placed on the Scheme liabilities, although this will be partially offset by an increase in the value of the Scheme’s bond holdings. Years The projected unit method has been used to determine the liabilities. Average duration of the liabilities in years as at 31 December 2023 19 Average duration of the liabilities in years as at 31 December 2022 19 The pension cost is assessed in accordance with the advice of an independent qualified actuary. The latest completed actuarial valuation of the scheme had an effective date of 6 April 2020. The assumptions that make the most significant effect on the valuation are those relating to the rate of return on investments, the rate of increase in salaries and pensions and expected longevity. It was assumed that the investment return would be based on the Bank of England gilt curve plus 0.5% per annum and that salary increases would be equivalent to CPI inflation plus 1.0% per annum. At the 6 April 2020 actuarial valuation, the actuarial value of the scheme assets was £314.6m, sufficient to cover 76% of the benefits which had accrued to members. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 187

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S 26 PENSION OBLIGATIONS CONTINUED TR Assumptions continued A TE G I The following table provides information on the composition and fair value of the assets of the scheme: C 31 December 31 December 31 December 31 December 31 December 31 December R E 2023 2023 2023 2022 2022 2022 P Quoted Unquoted Total Quoted Unquoted Total O R £m £m £m £m £m £m T Asset class G Overseas equities 5.6 – 5.6 25.9 – 25.9 O Private debt – 30.7 30.7 – 34.6 34.6 VE R Asset-Backed Securities 4.3 – 4.3 37.7 – 37.7 NAN Liability driven investment 133.3 3.3 136.6 26.3 9.5 35.8 Corporate bonds – – – 24.5 – 24.5 C Absolute return bonds – – – – 11.2 11.2 E Diversified alternatives – – – – 0.9 0.9 F I Cash 30.9 – 30.9 12.8 – 12.8 NAN Insurance policies 4.7 – 4.7 3.6 – 3.6 C Total 178.8 34.0 212.8 130.8 56.2 187.0 IAL The scheme assets and funded obligations at 31 December are summarised below: S T 2023 2022 A £m £m T E Total fair value of scheme assets 212.8 187.0 M E N Present value of funded obligations (215.9) (188.9) T Funded status at the end of the year (3.1) (1.9) S Adjustment to reflect minimum funding requirements (45.9) (59.3) F Liability recognised in the Statement of Financial Position (49.0) (61.2) U R T H E The adjustment to reflect minimum funding requirements represents the excess of the present value of contractual future recovery plan contributions, R discounted using the assumed scheme discount rate, over the funding status established through the actuarial valuation. INF Amounts recognised in the Consolidated Income Statement during the year ended 31 December were as follows: OR M 2023 2022 A £m £m T I Amounts charged to operating loss: ON Current service cost – (0.7) Past service cost – (2.8) – (3.5) Amounts charged to finance expense: Net interest expense on the net Defined Benefit liability 0.2 0.1 Interest expense on the adjustment to reflect minimum funding requirements (2.9) (1.5) Total expense recognised in the Income Statement (2.7) (4.9) ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 188

NOTES TO THE FINANCIAL STATEMENTS CONTINUED S S 26 PENSION OBLIGATIONS CONTINUED TR26 PENSION OBLIGATIONS CONTINUED TR Assumptions continued AAssumptions continued A TE TE G G I I The following table provides information on the composition and fair value of the assets of the scheme: CChanges in present value of the Defined Benefit pensions obligations are analysed as follows: C 31 December 31 December 31 December 31 December 31 December 31 December R R E 2023 2022 E 2023 2023 2023 2022 2022 2022 P £m £m P Quoted Unquoted Total Quoted Unquoted Total O O R At the beginning of the year (189.0) (368.4) R £m £m £m £m £m £m TCurrent service cost – (0.7) T Asset class Past service cost – (2.8) G G Overseas equities 5.6 – 5.6 25.9 – 25.9 OInterest cost (9.1) (7.2) O Private debt – 30.7 30.7 – 34.6 34.6 VEExperience losses (20.4) (14.7) VE R R Asset-Backed Securities 4.3 – 4.3 37.7 – 37.7 NANActuarial (losses)/gains arising from changes in financial assumptions (3.5) 190.7 NAN Liability driven investment 133.3 3.3 136.6 26.3 9.5 35.8 Distributions 4.2 11.3 Corporate bonds – – – 24.5 – 24.5 C C Absolute return bonds – – – – 11.2 11.2 EActuarial gains arising from changes in demographic assumptions 1.9 2.8 E Diversified alternatives – – – – 0.9 0.9 Obligation at the end of the year (215.9) (189.0) F F I I Cash 30.9 – 30.9 12.8 – 12.8 NANChanges in the fair value of plan assets are analysed below: NAN Insurance policies 4.7 – 4.7 3.6 – 3.6 C 2023 2022 C Total 178.8 34.0 212.8 130.8 56.2 187.0 IAL £m £m IAL The scheme assets and funded obligations at 31 December are summarised below: SAt the beginning of the year 187.0 363.9 S T T 2023 2022 A Interest on assets 9.3 7.3 A £m £m T T E E Total fair value of scheme assets 212.8 187.0 MEmployer contributions 15.0 15.6 M E E N Return on scheme assets excluding interest income 5.6 (188.5) N Present value of funded obligations (215.9) (188.9) T T Funded status at the end of the year (3.1) (1.9) SDistributions (4.1) (11.3) S Adjustment to reflect minimum funding requirements (45.9) (59.3) Fair value at the end of the year 212.8 187.0 F F Liability recognised in the Statement of Financial Position (49.0) (61.2) U U R R T 2023 2022 T H £m £m H E E The adjustment to reflect minimum funding requirements represents the excess of the present value of contractual future recovery plan contributions, R R discounted using the assumed scheme discount rate, over the funding status established through the actuarial valuation. INFActual return on scheme assets 14.9 (181.2) INF Amounts recognised in the Consolidated Income Statement during the year ended 31 December were as follows: OR OR M Analysis of amounts recognised in the Statement of Financial Position: M 2023 2022 A A £m £m T 2023 2022 T I I Amounts charged to operating loss: ON £m £m ON Current service cost – (0.7) Liability at the beginning of the year (61.2) (78.7) Past service cost – (2.8) Net expense recognised in the Income Statement (2.7) (4.9) – (3.5) Employer contributions 15.0 15.6 Amounts charged to finance expense: (Loss)/gain recognised in Other Comprehensive Income (0.1) 6.8 Net interest expense on the net Defined Benefit liability 0.2 0.1 Liability recognised in the Statement of Financial Position at the end of the year (49.0) (61.2) Interest expense on the adjustment to reflect minimum funding requirements (2.9) (1.5) Analysis of amount taken to Other Comprehensive Income: Total expense recognised in the Income Statement (2.7) (4.9) 2023 2022 £m £m Return on scheme assets excluding interest income 5.6 (188.5) Experience losses arising on funded obligations (20.4) (14.7) (Losses)/gains arising due to changes in financial assumptions underlying the present value of funded obligations (3.5) 190.7 Gains arising as a result of adjustment made to reflect minimum funding requirements 16.3 16.5 Gains arising due to changes in demographic assumptions 1.9 2.8 Amount recognised in Other Comprehensive Income (0.1) 6.8 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 189

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S 26 PENSION OBLIGATIONS CONTINUED TR A TE Sensitivity analysis of the principal assumptions used to measure scheme liabilities G I At 31 December 2023 the present value of the benefit obligation was £215.9m (2022: £189.0m) and its sensitivity to changes in key assumptions were: C R Present value Present value E of benefit of benefit P obligations at obligations at O R 31 December 31 December T Change in 2023 2022 assumption £m £m Discount rate Decrease by 1.00% 260.3 228.7 G Rate of inflation* Increase by 0.25% 222.5 196.7 O Life expectancy increased by approximately 1 year Increase by one year 223.2 194.7 VE R * This sensitivity allows for the impact on all inflation-related assumptions (salary increases, deferred revaluation and pension increases). NAN C Funding levels are monitored on a regular basis by the Trustee and the Group to ensure the security of members’ benefits. The next triennial valuation, as at E 6 April 2023, is due to be completed by July 2024 in line with the scheme-specific funding requirements of the Pensions Act 2004. As part of that valuation the Trustee and the Group will review the adequacy of the contributions being paid into the scheme. F I NAN Sensitivity analysis of the principal assumptions used to measure scheme liabilities continued C 2023 2022 IAL £m £m Expected future benefit payments S T Year 1 (2023/2024) 10.6 11.2 A T E Year 2 (2024/2025) 10.9 11.6 M E Year 3 (2025/2026) 11.2 11.9 N T Year 4 (2026/2027) 11.6 12.3 S Year 5 (2027/2028) 11.9 12.6 Years 6 to 10 (2029 to 2033) 63.7 67.9 F U R History of scheme experience T H 2023 2022 E R Present value of the scheme liabilities (£m) (215.9) (188.9) INF Fair value of the scheme assets (£m) 212.8 187.0 Deficit in the scheme before adjusting to reflect minimum funding requirements (£m) (3.1) (1.9) OR M Experience gains/(losses) on scheme assets excluding interest income (£m) 5.6 (188.5) A T I Percentage of scheme assets 2.6% (100.8%) ON Return on scheme liabilities (£m) (20.4) (14.7) Percentage of the present value of the scheme liabilities 9.4% 7.8% Total amount recognised in Other Comprehensive Income (£m) (0.1) 6.8 Percentage of the present value of the scheme liabilities 0.0% (3.6%) ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 190

NOTES TO THE FINANCIAL STATEMENTS CONTINUED S S 26 PENSION OBLIGATIONS CONTINUED TR27 SHARE CAPITAL AND OTHER RESERVES TR A Capital A TE Nominal Share Share Merger redemption TE Sensitivity analysis of the principal assumptions used to measure scheme liabilities G Number of value capital premium reserve reserve G I Allotted, called up and fully paid shares £ £m £m £m £m I At 31 December 2023 the present value of the benefit obligation was £215.9m (2022: £189.0m) and its sensitivity to changes in key assumptions were: C C R Opening balance at 1 January 2022 116,459,513 11.6 1,123.4 143.9 9.3 R Present value Present value E E of benefit of benefit P 1 P Private placing 23,291,902 0.1 2.4 75.7 – – obligations at obligations at O O R 2 R T Rights issue T 31 December 31 December 559,005,660 0.1 55.9 498.3 – – Change in 2023 2022 assumption £m £m Discount rate Decrease by 1.00% 260.3 228.7 Balance as at 31 December 2022 and 1 January 2023 698,757,075 69.9 1,697.4 143.9 9.3 G G O Private placing3 O Rate of inflation* Increase by 0.25% 222.5 196.7 28,300,000 0.1 2.8 91.7 – – VE 4 VE Life expectancy increased by approximately 1 year Increase by one year 223.2 194.7 Issuance of shares to SIP 1,017,505 0.1 0.1 – – – R R NAN 5 NAN * This sensitivity allows for the impact on all inflation-related assumptions (salary increases, deferred revaluation and pension increases). Exercise of warrant options 8,990,975 0.1 0.9 14.1 – – Placing6 58,245,957 0.1 5.9 206.9 – – C C Funding levels are monitored on a regular basis by the Trustee and the Group to ensure the security of members’ benefits. The next triennial valuation, as at E7 E Consideration shares 28,352,273 0.1 2.8 84.4 – – 6 April 2023, is due to be completed by July 2024 in line with the scheme-specific funding requirements of the Pensions Act 2004. As part of that valuation the Trustee and the Group will review the adequacy of the contributions being paid into the scheme. F Closing balance at 31 December 2023 823,663,785 82.4 2,094.5 143.9 9.3 F I I NAN 1. On 9 September 2022, the Company issued 23,291,902 ordinary shares by way of a private placing. The shares were issued at 335p raising gross proceeds of £78.1m, with £2.4m recognised as NAN Sensitivity analysis of the principal assumptions used to measure scheme liabilities continued C share capital and the remaining £75.7m recognised as share premium. C 2023 2022 IAL 2. On 28 September 2022, the Company issued 559,005,660 ordinary shares by way of a rights issue. The shares were issued at 103p raising gross proceeds of £575.8m, with £55.9m recognised IAL £m £m as share capital and the remaining £519.9m recognised as share premium. Share premium is reduced by £21.6m, reflecting transaction fees paid, of which £2.9m are accrued as at Expected future benefit payments S31 December 2022. Due to the shares being issued at substantially below market price, a bonus issue is deemed to have taken place. A total of 211.6m shares issued were considered S T bonus shares. The weighted average shares used to calculate earnings per share (see note 11) has been adjusted accordingly. T Year 1 (2023/2024) 10.6 11.2 A3. On 26 May 2023, the Company issued 28,300,000 ordinary shares by way of a private placing. The shares were issued at 335p raising gross proceeds of £94.8m with £2.8m recognised as share A T capital and the remaining £92.0m recognised as share premium. Transaction fees of £0.3m were deducted from share premium. T E E Year 2 (2024/2025) 10.9 11.6 M4. On 30 May 2023, the Company issued 1,017,505 ordinary shares under the Company’s Share Incentive Plan at nominal value. A transfer from retained earnings of £0.1m took place, with £0.1m M E recognised in share capital. E Year 3 (2025/2026) 11.2 11.9 N5. On 4 July 2023, 3,686,017 ordinary shares were issued to satisfy the redemption of certain warrant options. Further issuances of 3,980,921 ordinary shares on 12 July 2023 and 1,324,037 N T T Year 4 (2026/2027) 11.6 12.3 S ordinary shares on 31 July 2023 took place. These transactions resulted in the recognition of £0.9m of share capital with the balance of £14.1m being recognised in share premium. S 6. On 3 August 2023, the Company issued a total of 58,245,957 ordinary shares comprising 56,750,000 placing shares, 1,078,168 retail offer shares and 417,789 Director subscription shares. The Year 5 (2027/2028) 11.9 12.6 shares were issued at 371p raising gross proceeds of £216.1m, with £5.9m recognised as share capital, the remaining £210.2m as share premium, offset by £3.3m of fees. 7. On 6 November 2023, the Company issued consideration shares to Lucid Group, Inc. in part payment for access to technology. The fair value of technology was evaluated (see note 12) which Years 6 to 10 (2029 to 2033) 63.7 67.9 Fdetermined the issue price of the shares. £2.8m was recognised in share capital with an initial £85.8m in share premium. £1.4m of transaction fees were then deducted from share premium. F U U R R History of scheme experience T T H 28 ADDITIONAL CASH FLOW INFORMATION H 2023 2022 E E R Reconciliation of movements of select liabilities to cash flows arising from financing activities R Present value of the scheme liabilities (£m) (215.9) (188.9) INFThe tables below reconcile movements of liabilities classified within net debt (note 24) to cash flows arising from financing activities for the years ended INF Fair value of the scheme assets (£m) 212.8 187.0 Deficit in the scheme before adjusting to reflect minimum funding requirements (£m) (3.1) (1.9) OR31 December 2023 and 2022. OR M Other borrowings $335m 15% M Experience gains/(losses) on scheme assets excluding interest income (£m) 5.6 (188.5) A and inventory Lease $1,184.0m 10.5% Second Lien A T T I arrangements Liabilities First Lien Notes Notes Total I Percentage of scheme assets 2.6% (100.8%) ONLiabilities £m £m £m £m £m ON Return on scheme liabilities (£m) (20.4) (14.7) At 1 January 2023 145.3 99.8 935.0 169.0 1,349.1 Percentage of the present value of the scheme liabilities 9.4% 7.8% Changes from financing cash flows Total amount recognised in Other Comprehensive Income (£m) (0.1) 6.8 Interest paid (3.6) (4.1) (97.9) (16.9) (122.5) Percentage of the present value of the scheme liabilities 0.0% (3.6%) Principal lease payment – (7.9) – – (7.9) Proceeds from new borrowings 11.5 – – – 11.5 Repayment of existing borrowings (30.0) – – (99.7) (129.7) Premium paid on the early redemption of Senior Secured Notes – – – (8.0) (8.0) Inventory repurchase repayment (40.0) – – – (40.0) Inventory repurchase drawdown 38.0 – – – 38.0 Total changes from financing cash flows (24.1) (12.0) (97.9) (124.6) (258.6) Effect of changes in exchange rates – (1.0) (54.0) (6.8) (61.8) New leases under IFRS 16 – 5.8 – – 5.8 Modifications to existing leases – 0.6 – – 0.6 Interest expense 11.0 4.1 106.4 51.4 172.9 Movement in accrued interest (0.6) – 0.5 1.3 1.2 Financing expense in the Income Statement classified as operating cash flow (2.5) – – – (2.5) Balance at 31 December 2023 129.1 97.3 890.0 90.3 1,206.7 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 191

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S 28 ADDITIONAL CASH FLOW INFORMATION CONTINUED TR Reconciliation of movements of select liabilities to cash flows arising from financing activities continued A TE Other borrowings G I and inventory Lease $1,184.0m 10.5% $335m 15% C arrangements Liabilities First Lien Notes Second Lien Notes Total R Liabilities £m £m £m £m £m E P O At 1 January 2022 134.0 103.4 852.5 222.4 1,312.3 R T Changes from financing cash flows Interest paid (4.6) (4.5) (96.3) (35.8) (141.2) G Principal lease payment – (10.0) – – (10.0) O Repayment of existing borrowings (7.8) – (36.1) (128.8) (172.7) VE Premium paid on the early redemption of Senior Secured Notes – – – (14.3) (14.3) R Inventory repurchase repayment (60.0) – – – (60.0) NAN Inventory repurchase drawdown 75.7 – – – 75.7 C Transaction costs paid – – (1.9) – (1.9) E Total changes from financing cash flows 3.3 (14.5) (134.3) (178.9) (324.4) F Effect of changes in exchange rates – 0.7 113.5 42.7 156.9 I New leases under IFRS 16 – 2.2 – – 2.2 NAN C Modifications to existing leases – 3.5 – – 3.5 IAL S Interest expense 12.3 4.5 103.5 82.8 203.1 Movement in accrued interest 0.9 – (0.2) – 0.7 T A T Financing expense in the Income Statement classified as operating cash flow (5.2) – – – (5.2) E M E Balance at 31 December 2022 145.3 99.8 935.0 169.0 1,349.1 N T S 29 SHARE-BASED PAYMENTS F Long-term incentive schemes U R On 24 May 2023, Executive Directors and certain other employees were granted conditional share awards under the Company’s Long-Term Incentive Plan T H (“2023 LTIP”). On 12 December 2023, additional employees were granted conditional share awards under an extension to the same plan. The total charge E R recognised in the Consolidated Income Statement in relation to this scheme was £3.4m (2022: £nil). INF On 13 and 14 June 2022, Executive Directors and certain other employees were granted conditional share awards under the Company’s Long-Term OR Incentive Plan (“2022 LTIP”). On 15 December 2022, additional employees were granted conditional share awards under an extension to the same plan. The M A total charge recognised in the Consolidated Income Statement in relation to this scheme was £1.6m (2022: £0.9m). T I On 14 June 2021, Executive Directors and certain other employees were granted conditional share awards under the Company’s Long-Term Incentive Plan ON (“2021 LTIP”). On 14 December 2021, additional employees were granted conditional share awards under an extension to the same plan. The total charge recognised in the Consolidated Income Statement in relation to this scheme was £nil (2022: £0.4m). Awards made under the 2020 LTIP lapsed during the year as the remaining qualifying criteria were not met. The fair value of equity-settled share options and share awards granted is estimated at the date of grant using share option valuation models. The schemes are valued using the Monte Carlo model. The following tables list the inputs to the models for share based payment costs in the year: 2023 grant 2022 grant 2021 grant of 2023 LTIP of 2022 LTIP of 2021 LTIP Aggregate fair value at measurement date (£m) 18.6 6.1 7.3 Exercise price (p) £nil £nil £nil Expected volatility (%) 70.0% 50.0% 50.0% Dividend yield (%) N/A N/A N/A Risk free interest rate (%) 4.25% 2.16% 0.15% The expected volatility is wholly based on the historical volatility of the Company’s share price over a period from listing in 2018 to date. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 192

NOTES TO THE FINANCIAL STATEMENTS CONTINUED S S 28 ADDITIONAL CASH FLOW INFORMATION CONTINUED TR29 SHARE-BASED PAYMENTS CONTINUED TR Reconciliation of movements of select liabilities to cash flows arising from financing activities continued ALong-term incentive schemes continued A TE The following table details the outstanding options under the LTIP schemes: TE Other borrowings G G I I and inventory Lease $1,184.0m 10.5% $335m 15% C C arrangements Liabilities First Lien Notes Second Lien Notes Total R 2023 2022 R Liabilities £m £m £m £m £m Number Number E E P Options outstanding at 1 January 5,267,164 1,019,892 P O O At 1 January 2022 134.0 103.4 852.5 222.4 1,312.3 R R T Granted 8,329,424 2,177,076 T Changes from financing cash flows Interest paid (4.6) (4.5) (96.3) (35.8) (141.2) Forfeited (499,228) (139,533) Adjustment for rights issue – 1,930,663 G G Principal lease payment – (10.0) – – (10.0) O Lapsed due to non-attainment of conditions (413,234) – O Repayment of existing borrowings (7.8) – (36.1) (128.8) (172.7) VEOptions outstanding at 31 December 12,684,126 5,267,164 VE Premium paid on the early redemption of Senior Secured Notes – – – (14.3) (14.3) R R Inventory repurchase repayment (60.0) – – – (60.0) NANFree employee shares NAN On 19 May 2023, all UK employees of the Group were awarded up to 425 free shares in the Company under a Share Incentive Plan. A total of 1,017,505 Inventory repurchase drawdown 75.7 – – – 75.7 C C Transaction costs paid – – (1.9) – (1.9) Eshares were issued to the Aston Martin Employee Share Trust and immediately vested (see note 26). Employees must remain employed for a period of E three years to earn the shares, otherwise they are forfeited. Employees within the Group not domiciled in the UK were awarded 425 free options under the Total changes from financing cash flows 3.3 (14.5) (134.3) (178.9) (324.4) LTIP rules. A total of 57,322 options were granted to these employees. Provided those employees remain employed by the Company for three years, the F F Effect of changes in exchange rates – 0.7 113.5 42.7 156.9 I I New leases under IFRS 16 – 2.2 – – 2.2 NANnil-cost options will vest with no other performance conditions. NAN C The following table details the outstanding shares under both the UK and non-UK scheme combined: C Modifications to existing leases – 3.5 – – 3.5 IAL 2023 2022 IAL S S Interest expense 12.3 4.5 103.5 82.8 203.1 Number Number Movement in accrued interest 0.9 – (0.2) – 0.7 T T A Awards/options outstanding at 1 January – – A T T Financing expense in the Income Statement classified as operating cash flow (5.2) – – – (5.2) E E M Granted 1,074,827 – M E E Balance at 31 December 2022 145.3 99.8 935.0 169.0 1,349.1 N Forfeited (50,411) – N T T S Awards/options outstanding at 31 December 1,024,416 – S 29 SHARE-BASED PAYMENTS F Other share-based payments F Long-term incentive schemes U U R On 31 January 2022, the Group’s Defined Benefit Pension Scheme was closed to future accrual. As part of the closure cost, the affected employees were R On 24 May 2023, Executive Directors and certain other employees were granted conditional share awards under the Company’s Long-Term Incentive Plan T T H each granted 185 shares incurring a share-based payment charge of £1.0m during the year ended 31 December 2022. A cash-settled share-based payment H (“2023 LTIP”). On 12 December 2023, additional employees were granted conditional share awards under an extension to the same plan. The total charge E E R charge is also recognised associated with the guaranteed future value of the shares awarded to the employees (note 5). In the year ended 31 December R recognised in the Consolidated Income Statement in relation to this scheme was £3.4m (2022: £nil). INF2023, a total charge of £1.0m (2022: £1.0m) was recognised in the Consolidated Income Statement. INF On 13 and 14 June 2022, Executive Directors and certain other employees were granted conditional share awards under the Company’s Long-Term OROn 8 November 2022, a Group Director was granted 659,113 shares for nil consideration in relation to forfeited awards at a previous employer and OR Incentive Plan (“2022 LTIP”). On 15 December 2022, additional employees were granted conditional share awards under an extension to the same plan. The Mtherefore securing his employment with the Group. The award is subject to clawback provisions for a period of 12 months from the award date. The total M A A total charge recognised in the Consolidated Income Statement in relation to this scheme was £1.6m (2022: £0.9m). T T I cost incurred related to this award was £0.8m. I On 14 June 2021, Executive Directors and certain other employees were granted conditional share awards under the Company’s Long-Term Incentive Plan ON ON The total expense arising from equity-settled share-based payments is as follows: (“2021 LTIP”). On 14 December 2021, additional employees were granted conditional share awards under an extension to the same plan. The total charge recognised in the Consolidated Income Statement in relation to this scheme was £nil (2022: £0.4m). 2023 2022 £m £m Awards made under the 2020 LTIP lapsed during the year as the remaining qualifying criteria were not met. 2023 LTIP share option charge 3.4 – The fair value of equity-settled share options and share awards granted is estimated at the date of grant using share option valuation models. The schemes 2022 LTIP share option charge 1.6 0.9 are valued using the Monte Carlo model. 2021 LTIP share option charge – 0.5 The following tables list the inputs to the models for share based payment costs in the year: 2020 LTIP share option credit – (1.4) Grant of shares upon closure of the Defined Benefit Pension Scheme (notes 5, 26) – 1.0 2023 grant 2022 grant 2021 grant Group Director buyout – 0.8 of 2023 LTIP of 2022 LTIP of 2021 LTIP Aggregate fair value at measurement date (£m) 18.6 6.1 7.3 Employee Share Incentive Plan 0.4 – Exercise price (p) £nil £nil £nil 5.4 1.8 Expected volatility (%) 70.0% 50.0% 50.0% Dividend yield (%) N/A N/A N/A Risk free interest rate (%) 4.25% 2.16% 0.15% The expected volatility is wholly based on the historical volatility of the Company’s share price over a period from listing in 2018 to date. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 193

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S 30 CAPITAL COMMITMENTS TR On 27 October 2020, the Group announced that it had entered into an enhanced strategic cooperation arrangement (the “Strategic Cooperation A Agreement”) with one of its existing shareholders, MBAG. Under the Strategic Cooperation Agreement, the Group has agreed, over the period of time TE G I between December 2020 and July 2024 and in several tranches, to issue 458,942,744 ordinary shares of £0.009039687 each (22,947,138 ordinary shares C of £0.10 each following the share consolidation in December 2020) to MBAG in exchange for access to certain technology and intellectual property to be R E provided to the Group by MBAG in several stages. P O R The first tranche of 224,657,287 ordinary shares of £0.009039687 each (11,232,864 ordinary shares of £0.10 each following the share consolidation) was T issued to MBAG on 7 December 2020. A total of 11,714,274 ordinary shares remained unissued at 31 December 2022. During the year ended 31 December 2023 the Group agreed with MBAG that no further shares would be issued and no additional technology as part of the original agreement would be taken. G This announcement was concurrent with entering into an agreement with Lucid Group, Inc. for access to certain aspects of BEV technology (see note 12). O VE Property, plant and equipment expenditure contracts to the value of £37.3m (2022: £10.8m) have been committed but not provided for as at 31 December 2023. R Contracts to the value of £61.3m (2022: £51.4m) have been committed for the acquisition of intangible assets but not provided for as at 31 December 2023. NAN Certain contracts contain financial commitments, in particular purchase commitments and guarantees, which are of a magnitude typical for the industry. C 31 RELATED PARTY TRANSACTIONS E Transactions between Group undertakings, which are related parties, have been eliminated on consolidation and accordingly are not disclosed. F I Transactions with Directors and related undertakings NAN Transactions during 2023 C During the year ended 31 December 2023, a net marketing expense amounting to £19.4m of sponsorship has been incurred in the normal course of IAL business with AMR GP Limited (“AMR GP”), an entity indirectly controlled by a member of the Group’s Key Management Personnel (“KMP”). AMR GP S and its legal structure is separate to that of the Group and the Group does not have control or significant influence over AMR GP or its affiliates. £0.7m T A remains due from AMR GP at 31 December 2023 relating to these transactions. T E M During the year ended 31 December 2023 the Group extended its sponsorship arrangements with AMR GP for a further period of five years commencing E N in 2026. Amounts under this arrangement are due within each financial year from 2026. The Group also exercised its primary warrant option and subscribed T for reward shares under the terms of the original sponsorship arrangement giving the Group a minority stake in AMR GP Holdings Limited, the immediate S parent company of AMR GP limited. The Group paid nominal value for the shares of which £nil was outstanding at year end. Further detail is included in notes 15 and 20. Under the terms of the sponsorship agreement the Group is required to provide one fleet vehicle to the two AMR GP racing drivers free of F U charge. This arrangement is expected to continue for the life of the contract and is not expected to materially affect the financial position and performance R T of the Group. One of the racing drivers is an immediate family member of one of the Group’s KMP. A separate immediate family member of one of the H E Group's KMP incurred costs of less than £0.1m relating to the export and transport of a vehicle. The services were provided by a Group company. £nil was R outstanding at 31 December 2023. INF In addition, the Group incurred costs of £8.5m associated with engineering design on two upcoming vehicle programmes from Aston Martin Performance OR M Technologies Limited (“AMPT”) of which £2.8m is outstanding to AMPT at 31 December 2023. AMPT is an associated entity of AMR GP. A T I During the year ended 31 December 2023, Classic Automobiles Inc. purchased a vehicle for £1.8m of which £nil was outstanding at 31 December 2023. ON Classic Automobiles Inc. is controlled by a member of the Group’s KMP. During the year ended 31 December 2023, a separate member of the Group’s KMP and Non-executive Director purchased a vehicle for £1.8m, having paid a deposit to the Group in the first half of the year. £nil was outstanding at 31 December 2023. On 26 June 2023, the Group announced a strategic supply arrangement with Lucid Group, Inc. (“Lucid”) for future access to powertrain components for future BEV models. The arrangement is considered a Related Party Transaction owing to the substantial ownership of Lucid by the Public Investment Fund (“PIF”). PIF are also a substantial shareholder of the Group and two members of the Group’s KMP & Non-executive Directors are members of PIF’s KMP. The Group recognised an asset of £188.5m in relation to the supply agreement. The agreement is part-settled in equity, which was issued to Lucid in November 2023. An outstanding cash liability of £71.7m relating to the supply arrangement remains at 31 December 2023, all of which is due in more than one year. The supply arrangements, commit to an effective future minimum spend with Lucid on powertrain components of £177.0m. During the year ended 31 December 2023, the Group incurred costs of £2.0m for design and engineering work from Pininfarina S.p.A. A member of the Group’s KMP and Non-executive Director is also a member of Pininfarina S.p.A’s KMP. As of 19 May 2023 the individual ceased to be a member of the Group’s KMP and therefore any future spend under the contract will not be disclosed as a related party transaction. £nil is outstanding as at 31 December 2023. During the year ended 31 December 2023, the Group incurred a rental expense of £1.2m from Michael Kors (USA), Inc., a Company which is owned by Capri Holdings Limited. A member of the Group’s KMP and Non-executive Director is also a member of Michael Kors (USA), Inc.’s KMP. During the year ended 31 December 2023, the Group incurred consultancy costs of £0.2m from a member of the Group’s KMP and Non-executive Director in relation to the oversight of two significant legal claims which the Group has been party to. £0.1m was outstanding as at 31 December 2023. Owing to the unique experience of the individual involved and the specifics of the legal claims, no detailed market price assessment was performed when engaging this service. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 194

NOTES TO THE FINANCIAL STATEMENTS CONTINUED S S 30 CAPITAL COMMITMENTS TR31 RELATED PARTY TRANSACTIONS CONTINUED TR On 27 October 2020, the Group announced that it had entered into an enhanced strategic cooperation arrangement (the “Strategic Cooperation ATransactions with Directors and related undertakings continued A Agreement”) with one of its existing shareholders, MBAG. Under the Strategic Cooperation Agreement, the Group has agreed, over the period of time TETransactions during 2023 continued TE G G I I between December 2020 and July 2024 and in several tranches, to issue 458,942,744 ordinary shares of £0.009039687 each (22,947,138 ordinary shares CDuring the year ended 31 December 2023, an immediate family member of the Group’s KMP & Non-executive Director provided event services at the C of £0.10 each following the share consolidation in December 2020) to MBAG in exchange for access to certain technology and intellectual property to be Ropening of Q New York totalling less than £0.1m of expense. £nil was outstanding at 31 December 2023. No detailed market price assessment was R E E provided to the Group by MBAG in several stages. Pperformed when engaging this service. P O O R R The first tranche of 224,657,287 ordinary shares of £0.009039687 each (11,232,864 ordinary shares of £0.10 each following the share consolidation) was TTransactions during 2022 T issued to MBAG on 7 December 2020. A total of 11,714,274 ordinary shares remained unissued at 31 December 2022. During the year ended 31 December During the year ended 31 December 2022, a net marketing expense amounting to £20.2m of sponsorship has been incurred in the normal course of 2023 the Group agreed with MBAG that no further shares would be issued and no additional technology as part of the original agreement would be taken. business with AMR GP Limited (“AMR GP”), an entity indirectly controlled by a member of the Group’s Key Management Personnel (“KMP”). AMR GP G G This announcement was concurrent with entering into an agreement with Lucid Group, Inc. for access to certain aspects of BEV technology (see note 12). Oand its legal structure is separate to that of the Group and the Group does not have control or significant influence over AMR GP or its affiliates. In addition, O VE the Group incurred costs of £2.0m associated with engineering design on an upcoming vehicle programme from Aston Martin Performance Technologies VE Property, plant and equipment expenditure contracts to the value of £37.3m (2022: £10.8m) have been committed but not provided for as at 31 December 2023. RLimited (“AMPT”) of which £2.0m is outstanding to AMPT at 31 December 2022. AMPT is an associated entity of AMR GP. In addition, AMR GP acquired a R Contracts to the value of £61.3m (2022: £51.4m) have been committed for the acquisition of intangible assets but not provided for as at 31 December 2023. NANvehicle from the Group at a total cost of £0.7m. Less than £0.1m remains due from AMR GP at 31 December 2022 relating to these transactions. Under the NAN Certain contracts contain financial commitments, in particular purchase commitments and guarantees, which are of a magnitude typical for the industry. C terms of the sponsorship agreement the Group is required to provide one fleet vehicle to the two AMR GP racing drivers free of charge. This arrangement C 31 RELATED PARTY TRANSACTIONS Eis expected to continue for the life of the contract and is not expected to materially affect the financial position and performance of the Group. One of the E Transactions between Group undertakings, which are related parties, have been eliminated on consolidation and accordingly are not disclosed. racing drivers is an immediate family member of one of the Group’s KMP. A separate immediate family member of one of the Group’s KMP purchased two F vehicles from a Group company for £0.4m. £nil is outstanding at 31 December 2022. During the year ended 31 December 2022, Classic Automobiles Inc. F I I Transactions with Directors and related undertakings NANplaced a deposit of £0.5m with a Group company for the future purchase of a Group vehicle. Classic Automobiles Inc. is controlled by a member of the NAN Transactions during 2023 Group’s KMP. C C During the year ended 31 December 2023, a net marketing expense amounting to £19.4m of sponsorship has been incurred in the normal course of IALDuring the year ended 31 December 2022, a separate member of the Group’s KMP and Non-executive Director placed a deposit of £1.5m with a Group IAL business with AMR GP Limited (“AMR GP”), an entity indirectly controlled by a member of the Group’s Key Management Personnel (“KMP”). AMR GP S S and its legal structure is separate to that of the Group and the Group does not have control or significant influence over AMR GP or its affiliates. £0.7m company for the future purchase of a vehicle. T T A A remains due from AMR GP at 31 December 2023 relating to these transactions. T T E During the year ended 31 December 2022, a further separate member of the Group’s KMP and Non-executive Director transacted with a Group company E M to undertake service work on a vehicle for a total cost of less than £0.1m. £nil was outstanding at 31 December 2022. M During the year ended 31 December 2023 the Group extended its sponsorship arrangements with AMR GP for a further period of five years commencing E E N N in 2026. Amounts under this arrangement are due within each financial year from 2026. The Group also exercised its primary warrant option and subscribed T T for reward shares under the terms of the original sponsorship arrangement giving the Group a minority stake in AMR GP Holdings Limited, the immediate SDuring the year ended 31 December 2022, the Group incurred costs of £1.3m for design and engineering work from Pininfarina S.p.A. A member of the S parent company of AMR GP limited. The Group paid nominal value for the shares of which £nil was outstanding at year end. Further detail is included in Group’s KMP and Non-executive Director is also a member of Pininfarina S.p.A’s KMP. notes 15 and 20. Under the terms of the sponsorship agreement the Group is required to provide one fleet vehicle to the two AMR GP racing drivers free of FDuring the year ended 31 December 2022, the Group incurred a rental expense of £0.7m from Michael Kors (USA), Inc., a Company which is owned by F U U charge. This arrangement is expected to continue for the life of the contract and is not expected to materially affect the financial position and performance RCapri Holdings Limited. A member of the Group’s KMP and Non-executive Director is also a member of Michael Kors (USA), Inc.’s KMP. R T T of the Group. One of the racing drivers is an immediate family member of one of the Group’s KMP. A separate immediate family member of one of the H H E Terms and conditions of transactions with related parties E Group's KMP incurred costs of less than £0.1m relating to the export and transport of a vehicle. The services were provided by a Group company. £nil was R R outstanding at 31 December 2023. INFSales and purchases between related parties were made at normal market prices unless otherwise stated. Outstanding balances with entities other INF than subsidiaries are unsecured and interest free and cash settlement is expected within 60 days of invoice. Terms and conditions for transactions with In addition, the Group incurred costs of £8.5m associated with engineering design on two upcoming vehicle programmes from Aston Martin Performance ORsubsidiaries are the same, with the exception that balances are placed on inter-company accounts. The Group has not provided or benefited from any OR M M Technologies Limited (“AMPT”) of which £2.8m is outstanding to AMPT at 31 December 2023. AMPT is an associated entity of AMR GP. Aguarantees for any related party receivables or payables. A T T I I During the year ended 31 December 2023, Classic Automobiles Inc. purchased a vehicle for £1.8m of which £nil was outstanding at 31 December 2023. ON32 CONTINGENT LIABILITIES ON Classic Automobiles Inc. is controlled by a member of the Group’s KMP. In the normal course of the Group’s business, claims, disputes, and legal proceedings involving customers, dealers, suppliers, employees or others are During the year ended 31 December 2023, a separate member of the Group’s KMP and Non-executive Director purchased a vehicle for £1.8m, having paid pending or may be brought against Group entities arising out of current or past operations. There is presently a dispute between the Group and the other a deposit to the Group in the first half of the year. £nil was outstanding at 31 December 2023. shareholders of one of its subsidiary entities, which is ongoing and from which a future obligation may arise. The Group denies the claims made and is working to resolve the matter. On 26 June 2023, the Group announced a strategic supply arrangement with Lucid Group, Inc. (“Lucid”) for future access to powertrain components for future BEV models. The arrangement is considered a Related Party Transaction owing to the substantial ownership of Lucid by the Public Investment Fund (“PIF”). PIF are also a substantial shareholder of the Group and two members of the Group’s KMP & Non-executive Directors are members of PIF’s KMP. The Group recognised an asset of £188.5m in relation to the supply agreement. The agreement is part-settled in equity, which was issued to Lucid in November 2023. An outstanding cash liability of £71.7m relating to the supply arrangement remains at 31 December 2023, all of which is due in more than one year. The supply arrangements, commit to an effective future minimum spend with Lucid on powertrain components of £177.0m. During the year ended 31 December 2023, the Group incurred costs of £2.0m for design and engineering work from Pininfarina S.p.A. A member of the Group’s KMP and Non-executive Director is also a member of Pininfarina S.p.A’s KMP. As of 19 May 2023 the individual ceased to be a member of the Group’s KMP and therefore any future spend under the contract will not be disclosed as a related party transaction. £nil is outstanding as at 31 December 2023. During the year ended 31 December 2023, the Group incurred a rental expense of £1.2m from Michael Kors (USA), Inc., a Company which is owned by Capri Holdings Limited. A member of the Group’s KMP and Non-executive Director is also a member of Michael Kors (USA), Inc.’s KMP. During the year ended 31 December 2023, the Group incurred consultancy costs of £0.2m from a member of the Group’s KMP and Non-executive Director in relation to the oversight of two significant legal claims which the Group has been party to. £0.1m was outstanding as at 31 December 2023. Owing to the unique experience of the individual involved and the specifics of the legal claims, no detailed market price assessment was performed when engaging this service. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 195

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S 33 GROUP COMPANIES TR In accordance with Section 409 of the Companies Act 2006, a full list of entities in which the Group has an interest of greater than or equal to 20%, the A registered office and effective percentage of equity owned as at 31 December 2023 are disclosed below. TE G I C Investments in subsidiary undertakings R Proportion of E voting rights P Subsidiary undertakings Holding and shares held Nature of business O R Aston Martin Holdings (UK) Limited* Ordinary 100% Dormant company T Aston Martin Capital Holdings Limited**◊ Ordinary 100% Financing company holding the Senior Secured Notes Aston Martin Investments Limited** Ordinary 100% Holding company G O Aston Martin Capital Limited**◊ Ordinary 100% Dormant company – financing company that held Senior VE Secured Notes that were repaid in 2017 R Aston Martin Lagonda Group Limited** Ordinary 100% Holding company NAN Aston Martin Lagonda of North America Incorporated**^ Ordinary 100% Luxury sports car distributor C Lagonda Properties Limited** Ordinary 100% Dormant company E Aston Martin Lagonda Pension Trustees Limited** Ordinary 100% Trustee of the Aston Martin Lagonda Limited Pension Scheme F I Aston Martin Lagonda Limited** Ordinary 100% Manufacture and sale of luxury sports cars, the sale of NAN parts, brand licensing and motorsport activities C AM Brands Limited**◊ Ordinary 100% Non-trading company IAL Aston Martin Lagonda of Europe GmbH**> Ordinary 100% Provision of engineering and sales and marketing services S T A AML Overseas Services Limited** Ordinary 100% Dormant company T E Aston Martin Lagonda (China) Automobile Distribution Co., Ltd**√ Ordinary 100% Luxury sports car distributor M E N AM Nurburgring Racing Limited** Ordinary 100% Dormant company T Aston Martin Japan GK**> Ordinary 100% Operator of the sales function in Singapore and certain F U other countries in the Asia Pacific region R T H AMWS Limited**◊ Ordinary 50%*** Holding company E R Aston Martin Works Limited** Ordinary 50%*** Sale, servicing and restoration of Aston Martin cars INF All subsidiaries are incorporated in England and Wales unless otherwise stated. OR M ◊ Incorporated in Jersey (tax resident in the UK) A T ^ Incorporated in the USA I > Incorporated in Germany ON > Incorporated in Singapore √ Incorporated in the People’s Republic of China * Held directly by Aston Martin Lagonda Global Holdings plc ** Held indirectly by Aston Martin Lagonda Global Holdings plc *** The Group exercises management control of these legal entities and therefore the results, assets and liabilities have been wholly included in the Consolidated Financial Statements. The individual results, aggregate assets and aggregate liabilities included within the Consolidated Financial Statements are summarised on pages 142-146. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 196

NOTES TO THE FINANCIAL STATEMENTS CONTINUED S S 33 GROUP COMPANIES TR 33 GROUP COMPANIES CONTINUED TR In accordance with Section 409 of the Companies Act 2006, a full list of entities in which the Group has an interest of greater than or equal to 20%, the A Aston Martin Aston Martin A registered office and effective percentage of equity owned as at 31 December 2023 are disclosed below. TE Works Limited AMWS Limited Works Limited AMWS Limited TE G 2023 2023 2022 2022 G I £m £m £m £m I C C Investments in subsidiary undertakings R R Total assets 45.3 – 42.5 – Proportion of E E voting rights P P Total liabilities (4.1) – (3.8) – Subsidiary undertakings Holding and shares held Nature of business O O R R T T Aston Martin Holdings (UK) Limited* Ordinary 100% Dormant company Net assets 41.2 – 38.7 – Aston Martin Capital Holdings Limited**◊ Ordinary 100% Financing company holding the Senior Secured Notes Revenue 42.0 – 40.6 – Profit before tax 2.5 – 1.7 – Aston Martin Investments Limited** Ordinary 100% Holding company G G O O Group’s share of profit 1.3 – 0.9 – Aston Martin Capital Limited**◊ Ordinary 100% Dormant company – financing company that held Senior VE VE Secured Notes that were repaid in 2017 R R Aston Martin Lagonda Group Limited** Ordinary 100% Holding company NANRegistered addresses NAN Aston Martin Holdings (UK) Limited Banbury Road, Gaydon, Warwickshire, CV35 0DB, England Aston Martin Lagonda of North America Incorporated**^ Ordinary 100% Luxury sports car distributor C C Lagonda Properties Limited** Ordinary 100% Dormant company EAston Martin Capital Holdings Limited 28 Esplanade, St Helier, JE2 3QA, Jersey E Aston Martin Lagonda Pension Trustees Limited** Ordinary 100% Trustee of the Aston Martin Lagonda Limited Aston Martin Investments Limited Banbury Road, Gaydon, Warwickshire, CV35 0DB, England Pension Scheme F Aston Martin Capital Limited 28 Esplanade, St Helier, JE2 3QA, Jersey F I I Aston Martin Lagonda Limited** Ordinary 100% Manufacture and sale of luxury sports cars, the sale of NANAston Martin Lagonda Group Limited Banbury Road, Gaydon, Warwickshire, CV35 0DB, England NAN parts, brand licensing and motorsport activities CAston Martin Lagonda of North America Incorporated Floor 22, 11 West 42nd Street, New York, NY, 10036-8002, United States of America C AM Brands Limited**◊ Ordinary 100% Non-trading company IALLagonda Properties Limited Banbury Road, Gaydon, Warwickshire, CV35 0DB, England IAL Aston Martin Lagonda of Europe GmbH**> Ordinary 100% Provision of engineering and sales and marketing services SAston Martin Lagonda Pension Trustees Limited Banbury Road, Gaydon, Warwickshire, CV35 0DB, England S T T A A AML Overseas Services Limited** Ordinary 100% Dormant company TAston Martin Lagonda Limited Banbury Road, Gaydon, Warwickshire, CV35 0DB, England T E E Aston Martin Lagonda (China) Automobile Distribution Co., Ltd**√ Ordinary 100% Luxury sports car distributor MAM Brands Limited 28 Esplanade, St Helier,JE2 3QA, Jersey M E E N N AM Nurburgring Racing Limited** Ordinary 100% Dormant company TAston Martin Lagonda of Europe GmbH Gottlieb-Daimler-Strasse 30, 53520 Meuspath, Germany T Aston Martin Japan GK**> Ordinary 100% Operator of the sales function in Singapore and certain F F U Shanghai, China 200001 U other countries in the Asia Pacific region R R T AM Nurburgring Racing Limited Banbury Road, Gaydon, Warwickshire, CV35 0DB, England T H H AMWS Limited**◊ Ordinary 50%*** Holding company E E R Aston Martin Japan GK 1-2-3 Kita-Aoyama, Minato-ku, Tokyo 107-0061, Japan R Aston Martin Works Limited** Ordinary 50%*** Sale, servicing and restoration of Aston Martin cars INFAston Martin Lagonda – Asia Pacific PTE Limited Baker & McKenzie Singapore – 8 Marina Boulevard, #05-02 Marina Bay Financial INF All subsidiaries are incorporated in England and Wales unless otherwise stated. OR Centre, Singapore 018981 OR M AMWS Limited 28 Esplanade, St Helier, JE2 3QA, Jersey M ◊ Incorporated in Jersey (tax resident in the UK) A A T Aston Martin Works Limited Banbury Road, Gaydon, Warwickshire, CV35 0DB, England T ^ Incorporated in the USA I I > Incorporated in Germany ON ON > Incorporated in Singapore √ Incorporated in the People’s Republic of China * Held directly by Aston Martin Lagonda Global Holdings plc ** Held indirectly by Aston Martin Lagonda Global Holdings plc *** The Group exercises management control of these legal entities and therefore the results, assets and liabilities have been wholly included in the Consolidated Financial Statements. The individual results, aggregate assets and aggregate liabilities included within the Consolidated Financial Statements are summarised on pages 142-146. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 197

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S 34 ALTERNATIVE PERFORMANCE MEASURES TR In the reporting of financial information, the Directors have adopted various Alternative Performance Measures ("APMs"). APMs should be considered in A addition to IFRS measurements. The Directors believe that these APMs assist in providing useful information on the underlying performance of the Group, TE G I enhance the comparability of information between reporting periods, and are used internally by the Directors to measure the Group's performance. C R The key APMs that the Group focuses on are as follows: E P O i) Adjusted EBT is the profit/(loss) before tax and adjusting items as shown in the Consolidated Income Statement. R ii) Adjusted EBIT is operating profit/(loss) before adjusting items. T iii) Adjusted EBITDA removes depreciation, profit/(loss) on sale of fixed assets and amortisation from adjusted EBIT. iv) Adjusted operating margin is adjusted EBIT divided by revenue. G O v) Adjusted EBITDA margin is Adjusted EBITDA (as defined above) divided by revenue. VE vi) Adjusted earnings per share is profit/(loss) after tax before adjusting items as shown in the Consolidated Income Statement, divided by the weighted R average number of ordinary shares in issue during the reporting period. NAN vii) Net debt is current and non-current borrowings in addition to inventory repurchase arrangements and lease liabilities, less cash and cash equivalents C and cash held not available for short-term use as shown in the Consolidated Statement of Financial Position. E viii) Adjusted leverage is represented by the ratio of net debt to the last 12 months (LTM) Adjusted EBITDA. ix) Free cash flow is represented by cash inflow/(outflow) from operating activities less the cash used in investing activities (excluding interest received) F plus interest paid in the year less interest received. I NAN Consolidated Income Statement C 2023 2022 IAL £m £m S Loss before tax (239.8) (495.0) T A T Adjusting operating expenses (note 5) 31.5 23.9 E M Adjusting finance income (notes 5, 7) – (12.5) E N T Adjusting finance expense (notes 5, 8) 36.5 32.6 S Adjusted loss before tax (EBT) (171.8) (451.0) Adjusted finance income (note 7) (74.3) (3.0) F U Adjusted finance expense (note 8) 166.4 336.1 R T H Adjusted operating loss (EBIT) (79.7) (117.9) E R Adjusted operating margin (4.9%) (8.5%) INF Reported depreciation 102.2 88.8 Reported amortisation 283.4 219.3 OR M Adjusted EBITDA 305.9 190.2 A T I Adjusted EBITDA margin 18.7% 13.8% ON ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 198

NOTES TO THE FINANCIAL STATEMENTS CONTINUED S S 34 ALTERNATIVE PERFORMANCE MEASURES TR34 ALTERNATIVE PERFORMANCE MEASURES CONTINUED TR In the reporting of financial information, the Directors have adopted various Alternative Performance Measures ("APMs"). APMs should be considered in AEarnings per share A addition to IFRS measurements. The Directors believe that these APMs assist in providing useful information on the underlying performance of the Group, TE 2023 2022 TE G £m £m G I I enhance the comparability of information between reporting periods, and are used internally by the Directors to measure the Group's performance. C C R Adjusted earnings per ordinary share R The key APMs that the Group focuses on are as follows: E E P Loss available for equity holders (£m) (228.1) (528.6) P O O i) Adjusted EBT is the profit/(loss) before tax and adjusting items as shown in the Consolidated Income Statement. RAdjusting items (note 5) R ii) Adjusted EBIT is operating profit/(loss) before adjusting items. TAdjusting items before tax (£m) 68.0 44.0 T iii) Adjusted EBITDA removes depreciation, profit/(loss) on sale of fixed assets and amortisation from adjusted EBIT. Tax on adjusting items (£m) – – iv) Adjusted operating margin is adjusted EBIT divided by revenue. G G O Adjusted loss (£m) (160.1) (484.6) O v) Adjusted EBITDA margin is Adjusted EBITDA (as defined above) divided by revenue. VEBasic weighted average number of ordinary shares (million) 748.2 424.7 VE vi) Adjusted earnings per share is profit/(loss) after tax before adjusting items as shown in the Consolidated Income Statement, divided by the weighted R R average number of ordinary shares in issue during the reporting period. NANAdjusted loss per ordinary share (pence) (21.4p) (114.1p) NAN vii) Net debt is current and non-current borrowings in addition to inventory repurchase arrangements and lease liabilities, less cash and cash equivalents Adjusted diluted earnings per ordinary share C C and cash held not available for short-term use as shown in the Consolidated Statement of Financial Position. EAdjusted loss (£m) (160.1) (484.6) E viii) Adjusted leverage is represented by the ratio of net debt to the last 12 months (LTM) Adjusted EBITDA. Diluted weighted average number of ordinary shares (million) 748.2 424.7 ix) Free cash flow is represented by cash inflow/(outflow) from operating activities less the cash used in investing activities (excluding interest received) Adjusted diluted loss per ordinary share (pence) (21.4p) (114.1p) F F plus interest paid in the year less interest received. I I NAN NAN Consolidated Income Statement CNet debt C 2023 2022 IAL 2023 2022 IAL £m £m £m £m S Opening cash and cash equivalents 583.3 418.9 S Loss before tax (239.8) (495.0) T T A A T Cash inflow from operating activities 145.9 127.1 T Adjusting operating expenses (note 5) 31.5 23.9 E E M Cash outflow from investing activities (383.4) (284.7) M Adjusting finance income (notes 5, 7) – (12.5) E E N N T Cash inflow from financing activities 59.7 315.0 T Adjusting finance expense (notes 5, 8) 36.5 32.6 SEffect of exchange rates on cash and cash equivalents (13.1) 7.0 S Adjusted loss before tax (EBT) (171.8) (451.0) r 392.4 583.3 Adjusted finance income (note 7) (74.3) (3.0) Cash and cash equivalents at 31 Decembe F F U Cash held not available for short-term use – 0.3 U Adjusted finance expense (note 8) 166.4 336.1 R R T T H Borrowings (1,069.7) (1,211.1) H Adjusted operating loss (EBIT) (79.7) (117.9) E E R Lease liabilities (97.3) (99.8) R Adjusted operating margin (4.9%) (8.5%) INFInventory repurchase arrangement (39.7) (38.2) INF Reported depreciation 102.2 88.8 Reported amortisation 283.4 219.3 ORNet debt (814.3) (765.5) OR M M A A Adjusted EBITDA 305.9 190.2 T T I Adjusted EBITDA 305.9 190.2 I Adjusted EBITDA margin 18.7% 13.8% ONAdjusted leverage 2.7x 4.0x ON Free cash flow 2023 2022 £m £m Net cash inflow from operating activities 145.9 127.1 Cash used in investing activities (excluding interest received) (396.9) (286.9) Interest paid less interest received (109.0) (139.0) w (360.0) (298.8) Free cash flo ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 199

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS PARENT COMPANY FINANCIAL STATEMENTS PARENT COMPANY FINANCIAL STATEMENTS S TR Parent Company Statement of Financial Position A TE as at 31 December 2023 G I C 31 December 1 January 2022 R E 31 December 2023 2022 (restated*) (restated*) P Notes £m £m £m O R Non-current assets T Investments 3 1,051.5 497.3 957.4 Debtors: amounts falling due after one year 4 1,699.7 1,382.1 749.7 G O VE Current assets R Debtors: amounts falling due within one year 4 – 0.3 – NAN Total assets 2,751.2 1,879.7 1,707.1 C E Current liabilities F I Creditors: amounts falling due within one year 5 (212.8) (213.5) (219.1) NAN Net assets 2,538.4 1,666.2 1,488.0 C IAL Capital and reserves S T Share capital 6 82.4 69.9 11.6 A T E Share premium 2,094.5 1,697.4 1,123.4 M E Capital redemption reserve 6 9.3 9.3 9.3 N T Capital reserve 6 2.0 2.0 2.0 S Merger reserve 6 143.9 143.9 143.9 Retained earnings 206.3 (256.3) 197.8 F U R y 2,538.4 1,666.2 1,488.0 T Shareholder equit H E * Details of the restatement are presented in note 1. R INF The Financial Statements were approved by the Board of Directors on 27 February 2024 and were signed on its behalf by OR AMEDEO FELISA DOUG LAFFERTY M A CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER T I Company Number: 11488166 ON The profit on ordinary activities after taxation amounts to £438.7m (2022 (restated): loss of £454.1m). ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 200

PARENT COMPANY FINANCIAL STATEMENTS PARENT COMPANY FINANCIAL STATEMENTS CONTINUED S S TR TR Parent Company Statement of Financial Position Parent Company Statement of Changes in Equity A A TE TE as at 31 December 2023 Gfor the year ended 31 December 2023 G I I C C 31 December 1 January 2022 R Capital R E E 31 December 2023 2022 (restated*) (restated*) P Share Share redemption Capital Merger Retained Total P Notes £m £m £m O capital premium reserve reserve reserve earnings equity O R R Non-current assets TCompany £m £m £m £m £m £m £m T Investments 3 1,051.5 497.3 957.4 At 1 January 2023 69.9 1,697.4 9.3 2.0 143.9 (256.3) 1,666.2 Debtors: amounts falling due after one year 4 1,699.7 1,382.1 749.7 G G O Total comprehensive income O VE VE for the year Current assets R R NAN NAN Profit for the year – – – – – 438.7 438.7 Debtors: amounts falling due within one year 4 – 0.3 – Total comprehensive income Total assets 2,751.2 1,879.7 1,707.1 C C for the year 438.7 438.7 E E Current liabilities Transactions with owners recorded F F I I NAN NAN Creditors: amounts falling due within one year 5 (212.8) (213.5) (219.1) directly in equity Net assets 2,538.4 1,666.2 1,488.0 Issuance of new shares 11.5 383.0 – – – – 394.5 C C IAL Issuance of new shares to SIP IAL 0.1 – – – – (0.1) – S S Capital and reserves Warrant options exercised 0.9 14.1 – – – 18.6 33.6 T T A A Share capital 6 82.4 69.9 11.6 Group share based payment cost – – – – – 5.4 5.4 T T E E Total transactions with owners 12.5 397.1 – – – 23.9 433.5 Share premium 2,094.5 1,697.4 1,123.4 M M E E N N Capital redemption reserve 6 9.3 9.3 9.3 T T Capital reserve 6 2.0 2.0 2.0 SAt 31 December 2023 82.4 2,094.5 9.3 2.0 143.9 206.3 2,538.4 S Merger reserve 6 143.9 143.9 143.9 Retained earnings 206.3 (256.3) 197.8 F Capital F U U R Share Share redemption Capital Merger Retained Total R y 2,538.4 1,666.2 1,488.0 T T Shareholder equit capital premium reserve reserve reserve earnings equity H Company £m £m £m £m £m £m £m H E E * Details of the restatement are presented in note 1. R R INF INF At 1 January 2022 (restated*) 11.6 1,123.4 9.3 2.0 143.9 197.8 1,488 The Financial Statements were approved by the Board of Directors on 27 February 2024 and were signed on its behalf by OR Total comprehensive income OR AMEDEO FELISA DOUG LAFFERTY M M A for the yea A r CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER T T I I Company Number: 11488166 ONLoss for the year (restated*) – – – – – (454.1) (454.1) ON Total comprehensive income The profit on ordinary activities after taxation amounts to £438.7m (2022 (restated): loss of £454.1m). for the year – – – – – (454.1) (454.1) Transactions with owners recorded directly in equit y Issuance of new shares 58.3 574.0 – – – – 632.3 Total transactions with owners 58.3 574.0 – – – – 632.3 At 31 December 2022 (restated*) 69.9 1,697.4 9.3 2.0 143.9 (256.3) 1,666.2 *Details of the restatement are presented in note 1. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 201

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS S 1 ACCOUNTING POLICIES The nature of the Group's business is such that there can be variation in the TR Authorisation of Financial Statements and statement of compliance with timing of cash flows around the development and launch of new models. In A FRS 101 addition, the availability of funds provided through the vehicle wholesale TE G I The Parent Company Financial Statements of Aston Martin Lagonda Global finance facility changes as the availability of credit insurance and sales C Holdings plc (the “Company”) for the year were authorised for issue by the volumes vary, in total and seasonally. The forecasts take into account these R E Board of Directors on 27 February 2024 and the Statement of Financial factors to the extent that the Directors consider them to represent their best P O Position was signed on the Board’s behalf by Amedeo Felisa and Doug estimate of the future based on the information that is available to them at R Lafferty. The Company is a public limited company incorporated and the time of approval of these Financial Statements. T domiciled in the UK. The Company’s ordinary shares are traded on The Directors have considered a severe but plausible downside scenario that the London Stock Exchange and it is not under the control of any G single shareholder. includes considering the impact of a 15% reduction in DBX volumes and O a 10% reduction in sports volumes from forecast levels covering, although VE An overview of the business activities of Aston Martin Lagonda Global not exclusively, instances of reduced volume due to delayed product R Holdings plc, including a review of the key business risks that the Group launches, operating costs higher than the base plan, incremental working NAN faces, is given in the Strategic Report on pages 2-70. The debt facilities capital requirements such as a reduced deposit inflows or increased deposit C available to the Group and the maturity profile of this debt are shown in outflows and the impact of the strengthening of the sterling dollar exchange E note 23 to the Group Financial Statements. rate. F Going concern The Group plans to make continued investment for growth in the period I The Group meets its day-to-day working capital requirements and medium and, accordingly, funds generated through operations are expected to be NAN term funding requirements through a mixture of $1,143.7m First Lien notes reinvested in the business mainly through new model development and C at 10.5% which mature in November 2025, $121.7m of Second Lien split other capital expenditure. To a certain extent, such expenditure is IAL coupon notes at 15% per annum (8.89 % cash and 6.11% Payment in Kind) discretionary and, in the event of risks occurring which could have a S T which mature in November 2026, a Revolving Credit Facility (£99.6m) which particularly severe effect on the Group, as identified in the severe but A T E matures August 2025, facilities to finance inventory, a bilateral RCF facility plausible downside scenario, actions such as constraining capital spending, M E and a wholesale vehicle financing facility (as described in note 18 of the working capital improvements, reduction in marketing expenditure and the N T Group Financial Statements). As previously announced, the Group expects continuation of strict and immediate expense control would be taken to S to refinance the outstanding debt during the first half of 2024, however, the safeguard the Group’s financial position. going concern assessment is not dependent on this occurring. Under the In addition, we also considered the circumstances which would be needed F RCF the Group is required to comply with a leverage covenant tested U to exhaust the Group’s liquidity over the assessment period, a reverse stress R quarterly. Leverage is calculated as the ratio of adjusted EBITDA to net debt, T test. This would indicate that vehicle sales would need to reduce by more H after certain accounting adjustments are made. Of these adjustments, the E than 15% from forecast levels without any of the above mitigations to result R most significant is to account for lease liabilities under “frozen GAAP”, i.e. in having no liquidity. The likelihood of these circumstances occurring is INF under IAS17 rather than IFRS 16. Details of this adjustment are included in note 16 of the Group Financial Statements. The Group has complied with its considered remote both in terms of the magnitude of the reduction and that OR covenant requirements for the year ended 31 December 2023 and expects over such a long period, management could take substantial mitigating M A actions, such as reducing capital spending to preserve liquidity. T to do so for the Going Concern period. I Accordingly, after considering the forecasts, appropriate sensitivities, ON The amounts outstanding on all the borrowings are shown in note 23 of the current trading and available facilities, the Directors have a reasonable Group Financial Statements. expectation that the Group has adequate resources to continue in The Directors have developed trading and cash flow forecasts for the period operational existence for the foreseeable future and to comply with its from the date of approval of these Financial Statements through 30 June financial covenants, therefore, the Directors continue to adopt the going 2025 (the going concern review period). These forecasts show that the concern basis in preparing the Financial Statements. Group has sufficient financial resources to meet its obligations as they fall The Parent Company Financial Statements are presented in sterling. due, including repayment of the current RCF were it needing to be repaid on 30 June 2025 and to comply with covenants for the going concern review These Financial Statements have been prepared in accordance with period. The forecasts reflect the Group’s ultra-luxury performance-oriented Financial Reporting Standard 101 ‘Reduced Disclosure Framework’ (“FRS strategy, balancing supply and demand and the actions taken to improve 101”). No Income Statement is presented for the Company as permitted cost efficiency and gross margin. The forecasts include the costs of the by Section 408 of the Companies Act 2006. There were no gains or losses Group's environmental, social and governance (“ESG”) commitments and in the year (2022: £nil) in Other Comprehensive Income. The fee relating to make assumptions in respect of future market conditions and, in particular, the audit of these Financial Statements of £0.3m was borne by the Company wholesale volumes, average selling price, the launch of new models, and (2022: £0.3m). future operating costs. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 202

NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS CONTINUED S S 1 ACCOUNTING POLICIES The nature of the Group's business is such that there can be variation in the TR1 ACCOUNTING POLICIES CONTINUED Where the carrying amount of an asset exceeds its recoverable amount, the TR Authorisation of Financial Statements and statement of compliance with timing of cash flows around the development and launch of new models. In ABasis of preparation asset is considered impaired and is written down to its recoverable amount. A FRS 101 addition, the availability of funds provided through the vehicle wholesale TEThe Parent Company Financial Statements have been prepared in In assessing value-in-use, the estimated future cash flows are discounted to TE G G I I The Parent Company Financial Statements of Aston Martin Lagonda Global finance facility changes as the availability of credit insurance and sales Caccordance with FRS 101, as applied in accordance with the provisions of their present value using a pre-tax discount rate that reflects current market C Holdings plc (the “Company”) for the year were authorised for issue by the volumes vary, in total and seasonally. The forecasts take into account these Rthe Companies Act 2006. FRS 101 sets out a reduced disclosure framework assessments of the time value of money and the risks specific to the asset. R E E Board of Directors on 27 February 2024 and the Statement of Financial factors to the extent that the Directors consider them to represent their best Pfor a ‘qualifying entity’ as defined in the standard which addresses the Impairment losses on continuing operations are recognised in the Income P O O Position was signed on the Board’s behalf by Amedeo Felisa and Doug estimate of the future based on the information that is available to them at Rfinancial reporting requirements and disclosure exemptions in the individual Statement in those expense categories consistent with the function of the R Lafferty. The Company is a public limited company incorporated and the time of approval of these Financial Statements. TFinancial Statements of qualifying entities that otherwise apply this impaired asset. T domiciled in the UK. The Company’s ordinary shares are traded on The Directors have considered a severe but plausible downside scenario that recognition, measurement and disclosure requirements of UK adopted IFRS. Where an impairment loss subsequently reverses, the carrying amount of the London Stock Exchange and it is not under the control of any G G single shareholder. includes considering the impact of a 15% reduction in DBX volumes and OFRS 101 sets out amendments to UK adopted IFRS that are necessary to the asset (or cash-generating unit) is increased to the revised estimate of its O a 10% reduction in sports volumes from forecast levels covering, although VEachieve compliance with the Companies Act and related Regulations. The recoverable amount, but so that the increased carrying amount does not VE An overview of the business activities of Aston Martin Lagonda Global not exclusively, instances of reduced volume due to delayed product Rfollowing disclosures have not been included as permitted by FRS 101: exceed the carrying amount that would have been determined had no R Holdings plc, including a review of the key business risks that the Group launches, operating costs higher than the base plan, incremental working NANimpairment loss been recognised for the asset (or cash-generating unit) NAN – A Cash Flow Statement and related notes as required by IAS 7 ‘Statement faces, is given in the Strategic Report on pages 2-70. The debt facilities capital requirements such as a reduced deposit inflows or increased deposit Cin prior periods. A reversal of an impairment loss is recognised as C available to the Group and the maturity profile of this debt are shown in outflows and the impact of the strengthening of the sterling dollar exchange Eof Cash Flows’. income immediately. E note 23 to the Group Financial Statements. rate. – Disclosures in respect of transactions with wholly-owned subsidiaries as required by IAS 24 ‘Related Party Disclosures’. Management have further considered the impact of climate change on a F F Going concern The Group plans to make continued investment for growth in the period I– Disclosures in respect of capital management as required by paragraphs number of key estimates within the Financial Statements and has not found I The Group meets its day-to-day working capital requirements and medium and, accordingly, funds generated through operations are expected to be NAN134 to 136 of IAS 1 ‘Presentation of Financial Statements’. climate change to have a material impact on the conclusions reached. NAN term funding requirements through a mixture of $1,143.7m First Lien notes reinvested in the business mainly through new model development and C– The effects of new but not yet effective IFRSs as required by paragraphs Climate change considerations have been factored into the Directors’ C at 10.5% which mature in November 2025, $121.7m of Second Lien split other capital expenditure. To a certain extent, such expenditure is IAL30 and 31 of IAS 8 ‘Accounting Policies, Changes in Accounting Estimates impairment assessments of the carrying value of non-current assets (such as IAL coupon notes at 15% per annum (8.89 % cash and 6.11% Payment in Kind) discretionary and, in the event of risks occurring which could have a Sand Errors’. the parent company investment) through usage of a pre-tax discount rate S T T which mature in November 2026, a Revolving Credit Facility (£99.6m) which particularly severe effect on the Group, as identified in the severe but A– Disclosures in respect of the compensation of key management which reflects the individual nature and specific risks relating to the business A T T E E matures August 2025, facilities to finance inventory, a bilateral RCF facility plausible downside scenario, actions such as constraining capital spending, Mpersonnel as required by paragraph 17 of IAS 24 ‘Related and the market in which the Group operates. M E E and a wholesale vehicle financing facility (as described in note 18 of the working capital improvements, reduction in marketing expenditure and the NParty Disclosures’. N T Amounts due to Group undertakings T Group Financial Statements). As previously announced, the Group expects continuation of strict and immediate expense control would be taken to S– The requirements of paragraphs 88C and 88D of IAS 12 Income Taxes in Amounts due to Group undertakings are initially recognised at fair value. S to refinance the outstanding debt during the first half of 2024, however, the safeguard the Group’s financial position. respect of the impact of Pillar Two legislation. Subsequent to initial recognition they are measured at amortised cost using going concern assessment is not dependent on this occurring. Under the In addition, we also considered the circumstances which would be needed FAs the Financial Statements of the Group include the equivalent disclosures, the effective interest method. F RCF the Group is required to comply with a leverage covenant tested U U to exhaust the Group’s liquidity over the assessment period, a reverse stress Rthe Company has also taken the exemptions under FRS 101 available in R quarterly. Leverage is calculated as the ratio of adjusted EBITDA to net debt, T Amounts due from Group undertakings T test. This would indicate that vehicle sales would need to reduce by more Hrespect of the following disclosures: H after certain accounting adjustments are made. Of these adjustments, the E Amounts due from Group undertakings are initially recognised at fair value E than 15% from forecast levels without any of the above mitigations to result R R most significant is to account for lease liabilities under “frozen GAAP”, i.e. in having no liquidity. The likelihood of these circumstances occurring is INF– The requirements of paragraphs 45(b) and 46 to 52 of IFRS 2 ‘Share-and subsequently measured at amortised cost on an effective interest basis. INF under IAS17 rather than IFRS 16. Details of this adjustment are included in based Payment’ in respect of group-settled shared based payments. The Company assess the loans for recoverability from surplus undiscounted note 16 of the Group Financial Statements. The Group has complied with its considered remote both in terms of the magnitude of the reduction and that OR– The requirements of paragraphs 91 to 99 of IFRS 13 ‘Fair Value cashflows from the operating Group and determined no loss provision OR covenant requirements for the year ended 31 December 2023 and expects over such a long period, management could take substantial mitigating MMeasurement’ and the disclosures required by IFRS 7 ‘Financial necessary. The Company does not expect to receive payment within the M A A actions, such as reducing capital spending to preserve liquidity. T T to do so for the Going Concern period. IInstruments: Disclosures’. next 12 months and therefore presents the loan as non-current. I Accordingly, after considering the forecasts, appropriate sensitivities, ON ON The amounts outstanding on all the borrowings are shown in note 23 of the current trading and available facilities, the Directors have a reasonable The accounting policies set out herein have, unless otherwise stated, been Financial assets and liabilities Group Financial Statements. expectation that the Group has adequate resources to continue in applied consistently to all periods presented in these Financial Statements. Financial assets are cash or a contractual right to receive cash or another The Directors have developed trading and cash flow forecasts for the period operational existence for the foreseeable future and to comply with its Investments financial asset from another entity or to exchange financial assets or from the date of approval of these Financial Statements through 30 June financial covenants, therefore, the Directors continue to adopt the going The Company recognises investments in subsidiaries at cost less impairment in liabilities with another entity under conditions that are potentially 2025 (the going concern review period). These forecasts show that the concern basis in preparing the Financial Statements. its individual Financial Statements. The Company assesses at each reporting favourable to the entity. In addition, contracts that result in another Group has sufficient financial resources to meet its obligations as they fall date whether there is an indication that an asset may be impaired. If any such entity delivering a variable number of its own equity instruments are due, including repayment of the current RCF were it needing to be repaid on The Parent Company Financial Statements are presented in sterling. indication exists, or when annual impairment testing for an asset is required, financial assets. 30 June 2025 and to comply with covenants for the going concern review These Financial Statements have been prepared in accordance with the Company makes an estimate of the asset’s recoverable amount. An asset’s Derivative financial instruments including equity options are held at fair period. The forecasts reflect the Group’s ultra-luxury performance-oriented Financial Reporting Standard 101 ‘Reduced Disclosure Framework’ (“FRS recoverable amount is the higher of an asset’s or cash-generating unit’s fair value. All other financial instruments are held at amortised cost. strategy, balancing supply and demand and the actions taken to improve 101”). No Income Statement is presented for the Company as permitted value less costs to sell and its value-in-use and is determined for an individual Auditors remuneration cost efficiency and gross margin. The forecasts include the costs of the by Section 408 of the Companies Act 2006. There were no gains or losses asset, unless the asset does not generate cash inflows that are largely Auditors remuneration has been included in the group accounts. The Group Group's environmental, social and governance (“ESG”) commitments and in the year (2022: £nil) in Other Comprehensive Income. The fee relating to independent of those from other assets or groups of assets. accounts are required to comply with regulation 5(1)(b) of the Companies make assumptions in respect of future market conditions and, in particular, the audit of these Financial Statements of £0.3m was borne by the Company (Disclosure of Auditor Remuneration and Liability Limitation Agreements) wholesale volumes, average selling price, the launch of new models, and (2022: £0.3m). Regulations 2008. future operating costs. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 203

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS CONTINUED S Prior year restatement TR Following a review by the Financial Reporting Council (“FRC”), the Company revisited its assumptions used in determining the recoverability of the carrying A value of the investment in subsidiaries. The original assessment had not considered the recoverability of the intercompany balances within the Company TE G I prior to assessing the recoverability of the investment valuation. When updating for this assumption, the net recoverable value of the investment is reduced C from £957.4m to £497.3m at 31 December 2022. The impairment of £460.1m is reflected in the Parent Company Income Statement for the prior year. R E P O As part of the same review it was identified the intercompany receivable was presented as current, however, the Company did not expect to receive R repayment within 12 months from the balance sheet date. The intercompany receivable balance has therefore been restated as a non-current asset in the T prior year Company Balance Sheet. In addition, the Expected Credit Loss provision recognised against the intercompany receivable is deemed not required. This is due to the balance being intercompany in nature and the parent company can allow the benefit of time to its subsidiary in order to recover the G receivable in full from the future cashflows of the subsidiary. As there is no anticipated shortfall in repayment of the receivable over time, no expected O credit loss provision is required. An opening reserves adjustment of £36.0m is made to reflect removing the provision as at 1 January 2022. A £11.2m charge VE R is reflected in the Income Statement for the year ended 31 December 2022, reflecting the movement in the provision previously recognised between NAN 1 January 2022 and 31 December 2022. C The restatements noted above have no impact on the previous, current or future results of the Group. The FRC’s review does not benefit from detailed E knowledge of our business or an understanding of the underlying transactions entered into and therefore provides no assurance that the Annual Report F is correct in all material aspects. I NAN C IAL As previously reported Adjustment Restated balance S 31 December 2022 31 December 2022 T Liabilities £m £m £m A T E M Non-current assets E N Investments 957.4 (460.1) 497.3 T Debtors: amounts falling due in more than one year – 1,382.1 1,382.1 S F Current assets U R Debtors: amounts falling due within one year 1,357.6 (1,357.3) 0.3 T H E R INF Capital and reserves OR Retained Earnings 179.0 (435.3) (256.3) M A The loss on ordinary activities after taxation amounts to £454.1m (previously reported profit of £17.2m). T I ON As previously reported 1 Adjustment Restated balance January 2022 1 January 2022 Liabilities £m £m £m Non-current assets Debtors: amounts falling due in more than one year – 749.7 749.7 Current assets Debtors: amounts falling due within one year 713.7 (713.7) – Capital and reserves Retained Earnings 161.8 36.0 197.8 The profit on ordinary activities after taxation amounts to £70.9m (previously reported profit of £34.9m). 2 DIRECTORS’ REMUNERATION The Company has no employees other than the Directors. Full details of the Directors’ remuneration is given in the Directors’ Remuneration Report. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 204

NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS CONTINUED S S Prior year restatement TR3 INVESTMENTS TR Following a review by the Financial Reporting Council (“FRC”), the Company revisited its assumptions used in determining the recoverability of the carrying A £m A value of the investment in subsidiaries. The original assessment had not considered the recoverability of the intercompany balances within the Company TECost TE G G I I prior to assessing the recoverability of the investment valuation. When updating for this assumption, the net recoverable value of the investment is reduced CAt 1 January 2022 957.4 C from £957.4m to £497.3m at 31 December 2022. The impairment of £460.1m is reflected in the Parent Company Income Statement for the prior year. RAdditions – R E E P P O At 31 December 2022 and 1 January 2023 957.4 O As part of the same review it was identified the intercompany receivable was presented as current, however, the Company did not expect to receive R R repayment within 12 months from the balance sheet date. The intercompany receivable balance has therefore been restated as a non-current asset in the TAdditions 94.1 T prior year Company Balance Sheet. In addition, the Expected Credit Loss provision recognised against the intercompany receivable is deemed not required. At 31 December 2023 1,051.5 This is due to the balance being intercompany in nature and the parent company can allow the benefit of time to its subsidiary in order to recover the GImpairment G receivable in full from the future cashflows of the subsidiary. As there is no anticipated shortfall in repayment of the receivable over time, no expected O O credit loss provision is required. An opening reserves adjustment of £36.0m is made to reflect removing the provision as at 1 January 2022. A £11.2m charge VEAt 1 January 2022 – VE R Impairment during 2022 (restated*) (460.1) R is reflected in the Income Statement for the year ended 31 December 2022, reflecting the movement in the provision previously recognised between NANAt 31 December 2022 and 1 January 2023 (restated*) (460.1) NAN 1 January 2022 and 31 December 2022. C Reversal of impairment during 2023 460.1 C The restatements noted above have no impact on the previous, current or future results of the Group. The FRC’s review does not benefit from detailed EAt 31 December 2023 – E knowledge of our business or an understanding of the underlying transactions entered into and therefore provides no assurance that the Annual Report Carrying value F F is correct in all material aspects. I I NAN At 31 December 2022 (restated) 497.3 NAN At 31 December 2023 1,051.5 C C IAL *Details of the restatement are presented in note 1. IAL As previously reported Adjustment Restated balance S S 31 December 2022 31 December 2022 T T Liabilities £m £m £m AThe Company directly owns 100% of the share capital of Aston Martin Holdings (UK) Limited, a non-trading intermediate holding company registered in A T T E England and Wales. A full list of subsidiary and other related undertakings is given in note 33 to the Group Financial Statements. Additions in the year E M M Non-current assets E represent £88.7m for the issuance of shares to Lucid Group, Inc. in respect of the Technology sharing agreement and £5.4m in relation to Group share E N N Investments 957.4 (460.1) 497.3 T based payment charges for which the Company will issue shares on behalf of employees in subsidiary companies. T Debtors: amounts falling due in more than one year – 1,382.1 1,382.1 S S Impairment testing The Company reviews the carrying amount of its investment when events and circumstances indicate that an asset may be impaired. Impairment tests are F F Current assets U performed by comparing the carrying amount and the recoverable amount of the assets. The recoverable amount is the higher of the assets’ fair value less U R R Debtors: amounts falling due within one year 1,357.6 (1,357.3) 0.3 T T H costs of disposal and its value-in-use. H E E R R INF In assessing the value-in-use, the estimated future cash flows relating to the forecast usage period of the asset, or group of assets, are discounted to their INF Capital and reserves present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks. In performing this analysis OR OR Retained Earnings 179.0 (435.3) (256.3) the Company’s value-in-use calculation supports the recoverability of the full cost of the Company’s investment in subsidiary undertakings and therefore M M a reversal of the impairment recognised in the prior year has been recognised in the year ended 31 December 2023. The Group forecast and business plan A A The loss on ordinary activities after taxation amounts to £454.1m (previously reported profit of £17.2m). Tas at 31 December 2023 give an increased cash flow when compared to twelve months ago, resulting in a higher value-in-use therefore supporting the T I I ON reversal of the impairment. ON As previously reported 1 Adjustment Restated balance Key assumptions used in value-in-use calculations January 2022 1 January 2022 Where there are indicators of impairment, the calculation of value-in-use for the assets is most sensitive to the following assumptions: Liabilities £m £m £m Non-current assets – Cash flows are projected based on actual operating results and the current five-year plan. Debtors: amounts falling due in more than one year – 749.7 749.7 – Discount rates are calculated using a weighted average cost of capital approach. They reflect the individual nature and specific risks relating to the business and the market in which the Group operates. The pre-tax discount rate used was 14.0% (2022: 14.0%). – A long-term growth rate of 2% (2022: 2%) Current assets Debtors: amounts falling due within one year 713.7 (713.7) – Sensitivity analysis – As at 31 December 2023 the discount rate would need to increase by 1.1% before the investment in subsidiary undertakings is impaired. Capital and reserves 4 DEBTORS Retained Earnings 161.8 36.0 197.8 2022 2023 £m £m (restated*) Amounts due from Group undertakings 1,699.7 1,382.1 The profit on ordinary activities after taxation amounts to £70.9m (previously reported profit of £34.9m). Other receivables – 0.3 Total 1,699.7 1,382.4 Analysed as: 2 DIRECTORS’ REMUNERATION Current – 0.3 The Company has no employees other than the Directors. Full details of the Directors’ remuneration is given in the Directors’ Remuneration Report. Non-current 1,699.7 1,382.1 1,699.7 1,382.4 *Details of the restatement are presented in note 1. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 205

FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS CONTINUED S 4 DEBTORS CONTINUED TR A Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand. The Company does not TE G I expect to receive repayment of the loan due from Group undertakings within the next 12 months and has therefore presented the loan as non-current. C R 5 CREDITORS E P 2023 2022 O £m £m R Amounts due to Group undertakings 187.9 187.9 T Accrued expenses 1.8 2.9 G Derivative option over own shares 23.1 22.7 O 212.8 213.5 VE R NAN Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand. C Share warrants E As part of the issue of the Second Lien SSNs by Aston Martin Capital Holdings Limited, the Company issued share warrants enabling warrant holders to subscribe for a number of ordinary shares in the Company at the subscription price of £1.67 per share (previously £10 per share prior to the rights issue in F I September 2022). The warrants can be exercised from 1 July 2021 through to 7 December 2027. The fair value of the warrants is determined at each period NAN end. A charge to the Income Statement of £19.0m has been recognised in the year ended 31 December 2023 (2022: credit of £8.4m). A total of 29,969,927 C warrants were exercised in the year ended 31 December 2023 (2022: no warrants exercised), resulting in the issuance of 8,990,975 ordinary shares (note 6). IAL 6 CAPITAL AND RESERVES S T 2023 2022 A Allotted, called up and fully paid £m £m T E 823,663,785 shares of 10.0p each (2022: 698,757,075 ordinary shares of 10.0p each) 82.4 69.9 M E N T A full reconciliation of the Company’s movement in share capital is presented in note 27 of the Group accounts. S Merger reserve F On 26 June 2020, the Company issued 304.0m ordinary shares through a non-pre-emptive placing and retail offer. The shares were issued at 50p raising U R gross proceeds of £152.1m, with £2.7m recognised as share capital and the remaining £149.4m recognised as merger reserve. The merger reserve is used T H where more than 90% of the shares in a subsidiary are acquired and the consideration includes the issue of new shares by the Company, thereby attracting E R merger relief under the Companies Act 2006. The merger reserve value was reduced by £5.4m of transaction costs associated with the equity raise. INF Capital reserve OR The capital reserve of £2.0m arose from the share-for-share exchange on the acquisition of the entire share capital of Aston Martin Holdings (UK) Limited in 2018. M A T I ON ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 206

FURTHER INFORMATION GLOSSARY S S TR ADJUSTED EBITDA FRC NET-ZERO TR A Removes depreciation, loss/(profit) on sale of fixed Financial Reporting Council Reducing Scope 1, 2, and 3 emissions to zero or A TE assets and amortisation from adjusted operating to a residual level that is consistent with reaching TE G profit/(loss) FREE CASH FLOW net-zero emissions at the global or sector level in G I I C eligible 1.5°C-aligned pathways and neutralising C R ADJUSTED EBITDA MARGIN Cash inflow/(outflow) from operating activities any residual emissions at the net-zero target year R E plus the cash used in investing activities (excluding E P Adjusted EBITDA divided by revenue interest received) plus interest paid in the year less and any GHG emissions released into the P O atmosphere thereafter O R interest received R T ADJUSTED EBT T Profit/(loss) before tax and adjusting items as FTSE PHEV shown in the Consolidated Income Statement Financial Times Stock Exchange Plug-in Hybrid Electric Vehicle G G O O VE ADJUSTED EARNINGS PER SHARE FY PIK VE R Profit/(loss) after income tax before adjusting Financial year, full year Payment-in-kind interest, whereby interest on R NAN items, divided by the weighted average number of a bond is paid by scrip issuance of further bonds, NAN ordinary shares in issue during the reporting period GHG rather than in cash C Greenhouse gas C E ADJUSTED OPERATING MARGIN R&D E Research and development Adjusted operating profit/(loss) divided by revenue GPG F Gender Pay Gap F I RCF I NAN ADJUSTED OPERATING PROFIT/(LOSS) Revolving Credit Facility NAN Profit/(loss) from operating activities before GT C adjusting items Grand Tourer, a sports car with two front seats C IAL plus smaller rear seats RELATIONSHIP AGREEMENTS IAL S AGM Relationship Agreements between the Company S T Annual General Meeting HNWIs and the Yew Tree Consortium dated 27 February T A A T High Net Worth Individuals 2020, MBAG dated 27 October 2020, the Public T E Investment Fund dated 29 July 2022 and Geely E M APM M E dated 18 May 2023 which govern the relationship E N Alternative Performance Measures; for detail HY N T of the measures adopted see note 34 to the between the Company and each of these T S Financial Statements Half year shareholder groups S ICE RETAILS F ASP Internal combustion engine F U Average selling price A volume measure of unit sales of vehicles by U R dealers to customers; and/or Company sales R T T H IFRS of certain Specials direct to customers H E BEV E R International Financial Reporting Standards R INF Battery Electric Vehicle SBTi INF IPO Science Based Targets initiative OR CARBON NEUTRAL OR Initial Public Offering M Carbon neutral means that any CO released into M 2 SECTION 172 OR S.172 A the atmosphere from a company’s activities is A T KPIs Section 172 of the Companies Act 2006 requires T I I ON balanced by an equivalent amount being removed Key Performance Indicators the Board to consider a number of factors in ON CORE its decision-making, including the interests The Company’s models in ongoing production LTIP of its stakeholders excluding Specials. These currently comprise Long Term Incentive Plan SID Vantage, DB11, DB12, DBS and DBX MATERIALITY ASSESSMENT Senior Independent Director EBITDA An assessment which determines an organisation’s Earnings before interest, tax, depreciation material sources of environmental, social and SONIA governance risk and opportunity to inform Sterling Overnight Index Average and amortisation sustainability reporting processes EPS SPECIALS Earnings per share MBAG Vehicles produced in limited numbers Mercedes-Benz AG ERP V8, V12 NED Enterprise resource planning An eight-cylinder internal combustion engine; Non-executive Director a twelve-cylinder internal combustion engine ESG NET DEBT WHOLESALES Environmental, social and governance Current and non-current borrowings in addition A volume measure of unit sales of vehicles by EY to inventory financing arrangements and lease the Company to dealers; and/or company liabilities recognised following the adoption of Ernst & Young LLP, the Company’s current sales of certain specials direct to customers IFRS 16, less cash and cash equivalents, cash held External Auditor not available for short term use FIXED MARKETING OR FM Explicit marketing costs incurred directly by the Company, such as hosting launch events ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 207

FURTHER INFORMATION SHAREHOLDER INFORMATION S GENERAL SHAREHOLDER ENQUIRIES SHAREGIFT TR Enquiries relating to shareholdings, such as the transfer of shares, Shareholders with a small number of shares, the value of which makes A TE change of name or address, lost share certificates or dividend cheques, them uneconomic to sell, may wish to consider donating their shares G I should be referred to the Company’s registrar: to charity through ShareGift, a donation scheme operated by The Orr C Mackintosh Foundation. A ShareGift donation form can be obtained R E Equiniti, Aspect House, Spencer Road, Lancing, West Sussex, BN99 from Equiniti. Further information is available at www.sharegift.org P O 6DA, United Kingdom. or by telephone on 020 7930 3737. R T Equiniti offers a range of shareholder information and services online SHARE PRICE INFORMATION at www.shareview.co.uk. The latest Aston Martin Lagonda Global Holdings plc share price is G available on the Company’s website at www.astonmartinlagonda.com. O SHARE WARRANTS VE R The Company issued warrants granting rights to subscribe for ordinary UNAUTHORISED BROKERS (BOILER ROOM SCAMS) NAN shares in accordance with the terms of the Warrant Instrument dated Shareholders are advised to be very wary of any unsolicited advice, C 7 December 2020. Warrants are exercisable during the period offers to buy shares at a discount or offers of free company reports. E starting on 1 July 2021 and ending on 7 December 2027. A total of These are typically from overseas-based ‘brokers’ who target UK 29,969,919 warrants were exercised during the financial year ended shareholders offering to sell them what often turn out to be worthless F 31 December 2023. or high-risk shares in US or UK investments. These operations are I commonly known as boiler rooms. NAN Further information on the warrants is set out in the combined C prospectus and circular dated 18 November 2020. If you receive any unsolicited investment advice, get the correct name IAL of the person and organisation, and check that they are properly S T ANNUAL GENERAL MEETING authorised by the FCA before proceeding any further. This can be A T Information on the Annual General Meeting, together with the Notice done by visiting www.fca.org.uk/register/. E M of Meeting containing details of the business to be conducted, will be E N posted on our website, www.astonmartinlagonda.com. If you deal with an unauthorised firm, you will not be eligible to receive T payment under the Financial Services Compensation Scheme if things S The voting results for the 2024 Annual General Meeting will also be go wrong. If you think you have been approached by an unauthorised F accessible on www.astonmartinlagonda.com shortly after the firm, you should contact the FCA consumer helpline on 0800 111 6768. U R meeting. T H More detailed information can be found on the FCA website at E R ELECTRONIC COMMUNICATION www.fca.org.uk/consumers/protect-yourself/unauthorised-firms. INF Shareholders may at any time choose to receive all shareholder documentation in electronic form via the internet, rather than in paper REGISTERED OFFICE OR format. Shareholders who decide to register for this option will receive Aston Martin Lagonda Global Holdings plc, Banbury Road, Gaydon M A an email each time a shareholder document is published on the Warwick, CV35 0DB, United Kingdom. T I internet. Shareholders who wish to receive documentation in ON electronic form should register online at www.shareview.co.uk. Registered in England and Wales Registered Number: 11488166 www.astonmartinlagonda.com SHARE DEALING Aston Martin Lagonda Global Holdings plc shares can be traded WEBSITE through most banks, building societies or stockbrokers. Equiniti offers This Annual Report and other information about Aston Martin Lagonda a telephone and internet dealing service. Terms and conditions and Global Holdings plc, including share price information and details of results details of the commission charges are available on request. announcements, are available at www.astonmartinlagonda.com. For telephone dealing, please telephone 03456 037 037 between 8.00am and 4.30pm, Monday to Friday, and for internet dealing visit www.shareview.co.uk/dealing. Shareholders will need their reference number which can be found on their share certificate. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 208

S TR DISCLAIMER A The purpose of this Annual Report is to provide information to the TE members of Aston Martin Lagonda Global Holdings plc. This G I C document contains certain statements with respect to the operations, R performance and financial condition of the Group including, among E P other things, statements about expected revenues, margins, earnings O R per share or other financial or other measures. Forward-looking T statements appear in a number of places throughout this document and include statements regarding our intentions, beliefs or current G expectations and those of our ofÏcers, Directors and employees O VE concerning, among other things, our results of operations, financial R condition, liquidity, prospects, growth, strategies and the business NAN we operate. By their nature, these statements involve uncertainty and are subject to a number of risks since future events and circumstances C E can cause actual results and developments to differ materially from those anticipated. F I The forward-looking statements reflect knowledge and information NAN available at the date of preparation of this document and, unless C otherwise required by applicable law, the Company undertakes no IAL obligation to update or revise these forward-looking statements. S Nothing in this document should be construed as a profit forecast. All T A members, wherever located, should consult any additional disclosures T E that the Company may make in any regulatory announcements or M E documents which it publishes. The Company and its Directors accept N T no liability to third parties in respect of this document save as would S arise under English law. This document does not constitute an invitation to underwrite, subscribe for or otherwise acquire or dispose F U of any Aston Martin Lagonda Global Holdings plc shares, in the R T UK, or in the USA, or under the USA Securities Act 1933 or any H E other jurisdiction. R INF OR M A T I ON This document is printed on Symbol Tatami White, a paper containing fibresourced from responsible FSC® certified forests and other controlled sources. The pulp used in this product is bleached, using an elemental chlorine free (ECF) process. Printed in the UK by PurePrint Group, a CarbonNeutral® company, certificated to Environmental Management System 14001 Designed and produced by Conran Design Group www.conrandesigngroup.com

Video Player is loading.

Play Video

Play

Mute

Current Time 0:00

/

Duration 1:09

Loaded: 0.00%

0:00

Stream Type LIVE

Seek to live, currently behind liveLIVE

Remaining Time -1:09

 

1x

Playback Rate

Chapters

• Chapters

Descriptions

• descriptions off, selected

Captions

• captions settings, opens captions settings dialog
• captions off, selected

Audio Track

Picture-in-PictureFullscreen

This is a modal window.

Beginning of dialog window. Escape will cancel and close the window.

Text

ColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-Transparent

Background

ColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparent

Window

ColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaque

Font Size

50%75%100%125%150%175%200%300%400%

Text Edge Style

NoneRaisedDepressedUniformDropshadow

Font Family

Proportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall Caps

Reset restore all settings to the default valuesDone

Close Modal Dialog

End of dialog window.

ASTONMARTINLAGONDA.COM