STRATEGIC REPORT EXECUTIVE CHAIRMAN’S STATEMENT SS TRTR AA Accelerating forward TETE GG II CC R R in our vision EE PP OO RR TT GG OO VEVE RR NANNAN CC EE FF II NANNAN CC th IALIAL he historic year of our 110 anniversary, 2023 marked an important EXECUTIVE ECHAIRMAN S S crossroads for Aston Martin Lagonda. An opportunity to reflect on TT C our rich heritage and progress to date, whilst accelerating forward AA L TT in our vision for the Company. EE L MM N EE NN E It’s now almost four years since I became Executive Chairman. As TT O I outlined at our Capital Markets Day in June 2023, we have made SS R R tremendous progress within that time, transforming our brand, our T FF Tproduct portfolio, and our balance sheet. UU RR S TT AW HH In 2023, Aston Martin delivered significant strategic milestones and EE RR L further financial progress, driven by continued strong demand for INF INF our ultra-luxury, high-performance products. OROR As a high-performance car enthusiast myself, I take immense personal MM AA pride in the collection of stunning new models we’ve introduced to our TT II community of owners and enthusiasts around the world. From our ONON critically acclaimed DBX707 luxury SUV, through to our instantly iconic new front-engine sports cars and groundbreaking mid-engine programme. In 2023, the rich mix of sales from this breathtaking product portfolio, driven by our ongoing commitment to innovation, supported growth in average selling prices to record levels. This, combined with our ongoing portfolio transformation, resulted in a significantly enhanced In 2023, Aston Martin delivered gross margin, remaining on track to achieve our longstanding target of around 40% gross margin in 2024. significant strategic milestones and Aligned to our vision of creating the most comprehensive product further financial progress, driven portfolio in our segment, we launched the highly acclaimed DB12 by continued strong demand in 2023. We have seen a clear demonstration of DB12 and our other ultra-luxury vehicles addressing the growing demand for unique for our ultra-luxury, personalised products, driving increased options revenue while high-performance products.” also attracting new customers to the brand. This arrival of important and innovative new products is further boosted by our continued investment in establishing Aston Martin as an ultra-luxury, high-performance brand – supercharged by our successful return to the pinnacle of motorsport, Formula One®. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 14