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