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