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