GOVERNANCE DIRECTORS’ REMUNERATION REPORT CONTINUED S ALLOWANCES AND BENEFITS (AUDITED) Insurance TR A Car allowance and Life (private medical, Location TE Shown in £’000s Travel personal mileage assurance dental and travel) allowance Total G I Amedeo Felisa C Year to 31 December 2023 £1,183 £14 – – £91 £1,288 R E Year to 31 December 2022 – – – £60 £60 P O Doug Lafferty R Year to 31 December 2023 – £39 £5 £2 £87 £133 T Year to 31 December 2022 – £13 £2 £1 – £16 G O Amedeo Felisa (CEO) and other members of the leadership team have been commuting from their homes in Italy on a weekly basis to be present at Aston VE Martin’s UK sites. Recognising the efÏciency advantages around valuable time saved, productive time working (both as individuals and a team), as well as R privacy, flexibility and convenience, the Committee considered the use of private flights for the commute. NAN C After careful consideration, and with full support from the Executive Chairman, during 2023 the Committee approved the Company to covering the cost E (including any tax payable) of private flights for the commute between Italy and the UK for individuals including the CEO. The CEO will also receive reimbursement for the cost of flights associated with his commute since his appointment in 2022. As the decision was made during 2023, the cost related to F 2023 (at £814k) and 2022 (at £369k) is included in the FY 2023 single figure and above table. I NAN As previously disclosed, the CEO receives an annual cash allowance of £50,000 as location assistance, intended to cover his accommodation and subsistence C in the UK while he is away from his home in Italy during the working week. The Company also meets the tax payable on this allowance. IAL S T The Committee considered the working pattern of the CFO and approved the introduction of a location assistance allowance to recognise that he had a A T significant commute and was therefore renting accommodation away from home during the working week to be present on location at Aston Martin’s E M Gaydon headquarters. This allowance was set at £48,000 p.a. from 1 January 2023, with the Company also meeting the tax payable. E N T ANNUAL BONUS S Annual bonus outcomes for FY 2023 (audited) F The annual bonus in 2023 operated in-line with the Company-wide approach first introduced in 2021, including a Group scorecard of performance measures U R to best reflect annual progress on our business plan and KPIs. The Group scorecard was cascaded throughout the Company to apply to annual bonus for all T H employees, providing strong alignment of focus. E R INF For 2023, the scorecard was weighted 85% on financial measures (including a 50% weighting on Adjusted EBITDA, 20% on Free Cash Flow and 15% on volumes) and 15% on Quality performance. The performance targets for each measure were set by the Committee at the start of the year, considering the OR business plan for 2023 and market expectations. The table below sets out the Group KPI targets, the achieved performance and the level of pay out of the M A bonus as a % of maximum for each element. T I ON 2023 Group KPI targets FY 2023 Threshold Target Maximum FY 2023 bonus payment Performance measure (weighting) (20%) (50%) (100%) achieved (% of maximum) Adjusted EBITDA (50%) £250m £300m £350m £306m 28% Free Cash Flow (20%) – £290m – £240m – £200m – £360m 0% Wholesale Volumes (7.5%) 6,400 6,900 7,300 6,620 2.5% Retail Volumes (7.5%) 6,900 7,400 7,800 5,918 0% Quality (15%) Internal: 1 of 2 targets 1.9% CPA – Customer Perception Audit – an audit of a car achieved that has completed all the production processes and is intercepted as it would be handed over to the outbound transport company External – Warranty at 3 and 12 months in service: 3 of 8 targets 1.4% (1) CPU – Cost Per Unit achieved (2) DPU – Defects Per Unit Total (100%) 34% For 2023, all elements of the bonus operated independently, and with our FY 2023 Adjusted EBITDA outcome of £306m just ahead of the target set, a payment of 34% of maximum bonus (68% of target) will be paid based on Adjusted EBITDA, wholesale volumes and quality metrics achieved (and no payment with respect to the FCF or retail volumes measures). ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 112