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