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