Governance Disclosures

19 September 2024

(1) - Departing Director remuneration – Amedeo Felisa

The information below is provided pursuant to section 430(2B) Companies Act 2006.

Amedeo Felisa stepped down as Chief Executive Officer and an Executive Director of the Company on 1 September 2024. The following remuneration arrangements apply in connection with the termination of Amedeo Felisa's employment:

- Amedeo has a 12-month notice period which commenced on 1 September 2024. He will remain employed and available to the Group to aid the smooth transition of leadership until 31 December 2024 at which point his employment will terminate. He will be paid his normal salary and receive benefits as an employee until his employment ends and will then be paid £616,667 (salary only less applicable tax deductions) in lieu of the unserved part of his notice period.

- Amedeo will remain eligible to receive an annual bonus for his 2024 period of service (the full financial year, from 1 January 2024 to 31 December 2024). Any 2024 annual bonus due (subject to 2024 performance) will be delivered 50% in cash and 50% in deferred shares under the Deferred Bonus Share Plan (DBSP). The Remuneration Committee determined that Amedeo be treated as a good leaver, and so his outstanding 2023 and 2024 DBSP awards over 5,820 and 109,677 shares respectively will be released in full on the original release dates (of 24 May 2026 and 5 June 2027 respectively).

- In respect of his outstanding 2024 LTIP award, the Remuneration Committee determined that Amedeo be treated as a good leaver, and this award will be pro-rated based on period of service from grant date to the termination date. The pro-rata number of shares under this award (394,936 shares) will remain subject to the original performance conditions and vesting date.

- Amedeo will be required to retain all those shares in the Company that he holds as at 1 September 2024 (including shares under the DBSP awards) for a period of two years until 31 August 2026.

- Amedeo will continue to be covered by the Company’s D&O insurance.

- No payments for loss of office will be paid to Amedeo.

(2) - New Chief Executive Officer remuneration – Adrian Hallmark

Adrian Hallmark's service agreement, remuneration and benefits are consistent with Aston Martin Lagonda's Remuneration Policy as approved by shareholders at the 2022 AGM:

- Base salary of £1,000,000 per annum

- Pension in line with the majority of the workforce

- Other benefits in accordance with the Remuneration Policy

- Annual bonus opportunity of up to 200% of salary

- Annual award under the Long-Term Incentive Plan of up to 300% of salary

- Shareholding guideline of 300% of salary

(3) - Leadership team remuneration review

As part of the leadership change, the Executive Chairman and Remuneration Committee reviewed remuneration for the leadership team, recognising the importance of stability across the team.

As part of this review, in the context of positioning his salary appropriately in the range for the leadership team and recognising external reference points, Doug Lafferty’s (CFO) salary was increased to £640,000, with an effective date of 1 June 2024.

22 March 2024

The Trustee of the Aston Martin Lagonda Limited Pension Scheme has a fiduciary duty to consider its approach to the stewardship of investments to maximise the financial returns for the benefit of Scheme members and beneficiaries over the long term. The statement at the link below sets out how, and the extent to which, in the opinion of the Trustee, the policies (set out in the Statement of Investment Principles) on the exercise of rights attaching to the investments and engagement activities have been followed during the year ending 5 April 2023.

For and Behalf of the Trustees of the Aston Martin Lagonda Limited Pension Scheme.

View the statement

17 May 2023

The information below is provided pursuant to section 430(2B) Companies Act 2006.

As announced on 13 April 2023, Antony Sheriff stepped down from the Board on 17 May 2023. Antony is not entitled to any remuneration payments or payments for loss of office in connection with him ceasing to be a director of the Company.

The information below is provided pursuant to section 430(2B) Companies Act 2006.

Tobias Moers stepped down as an Executive Director of the Company and as CEO on 4 May 2022. The following remuneration arrangements apply in connection with the termination of his employment:

- Tobias Moers has a 12 month notice period which commenced on 4 May 2022. He will remain employed and available to the Group until 31 July 2022 at which point his employment will terminate. He will be paid his normal salary and receive benefits as an employee until his employment ends and will then be paid £664,041 (less applicable tax deductions) in lieu of the unserved part of his notice period.

- Tobias Moers will remain eligible to receive a pro-rata annual bonus for the period of service from 1 January 2022 to 31 July 2022. Any 2022 annual bonus due (subject to 2022 performance) will be delivered 50% in cash and 50% in deferred shares under the Deferred Bonus Share Plan (DBSP). His outstanding 2021 DBSP awards over 1,866 shares will be released in full on the original release date (14 June 2024).

- In respect of outstanding 2020 and 2021 LTIP awards, these awards will be preserved but pro-rated based on period of service from grant date to 31 July 2022. The pro-rata number of shares under each award (2020 LTIP award – 147,218 and 2021 LTIP award – 51,732) will remain subject to the original performance conditions and vesting dates. Tobias will not be eligible for a 2022 LTIP award.

- Tobias Moers had not yet achieved his target shareholding of 150% of his base salary and so will maintain his full actual shareholding for two years from the date he stepped down as a director.

- The Company will cover the reasonable costs of advice and assistance for tax filings in respect of payments that he receives from Aston Martin Lagonda. Tobias will continue to be covered by the Company’s D&O insurance and received a contribution towards his legal advice of £6,000 plus VAT.

06 May 2022

The information below is provided pursuant to section 430(2B) Companies Act 2006.

3 May 2022

The information below is provided pursuant to section 430(2B) Companies Act 2006.

Kenneth Gregor stepped down as Chief Financial Officer and an Executive Director of the Company on 1 May 2022. The following remuneration arrangements apply in connection with the termination of Mr. Gregor's employment:

- Kenneth Gregor will continue to be paid salary, pension and receive benefits as an employee in the period to 30 June 2022

- Salary, pension and benefits will cease following the termination date and no payment in lieu of notice will be made for the unserved notice period beyond the termination date

- 2021 bonus – no bonus payment was due in respect of 2021

- 2022 bonus – the Remuneration Committee decided to apply discretion to treat Kenneth as a good leaver. Kenneth will remain eligible for any bonus on a pro-rata basis for his period of 2022 service to the termination date. Any 2022 annual bonus due (subject to 2022 performance) will be delivered 50% in cash and 50% in deferred shares under the Deferred Bonus Share Plan (DBSP)

- In respect of his outstanding 2020 and 2021 LTIP awards, the Remuneration Committee decided to apply discretion to treat Kenneth as a good leaver and these awards will be pro-rated based on period of service from grant date to the termination date. The pro-rata number of shares under each award (2020 LTIP award – 46,510 shares and 2021 LTIP – 15,946 shares) will remain subject to the original performance conditions and vesting dates

- No 2022 LTIP award will be granted

- In respect of his outstanding 2021 DBSP award, the Remuneration Committee decided to apply discretion to treat Kenneth as a good leaver and this award will be released in full on the original release date (884 shares on 14 June 2024).

- Kenneth will be required to retain all those shares in the Company that he holds as at 30 June 2022 (including shares under the DBSP awards) for a period of two years until 30 June 2024.

- Kenneth will continue to be covered by the Company’s D&O insurance and received a contribution towards his legal advice of £3,000 plus VAT.

- No payments for loss of office will be paid to Kenneth.

01 February 2023

The Trustee of the Aston Martin Lagonda Limited Pension Scheme has a fiduciary duty to consider its approach to the stewardship of investments to maximise the financial returns for the benefit of Scheme members and beneficiaries over the long term. The statement at the link below sets out how, and the extent to which, in the opinion of the Trustee, the policies (set out in the Statement of Investment Principles) on the exercise of rights attaching to the investments and engagement activities have been followed during the year ending 5 April 2022.

For and Behalf of the Trustees of the Aston Martin Lagonda Limited Pension Scheme.

View the statement

29 June 2020

The information below is provided pursuant to section 430(2B) Companies Act 2006.

As announced on 26 May, Richard Solomons, Imelda Walsh and Tensie Whelan stepped down from the Board on 23 May 2020. Richard, Imelda and Tensie were not entitled to any remuneration payments or payments for loss of office in connection with their ceasing to be a director of the Company.

19 June 2020

The information below is provided pursuant to section 430(2B) Companies Act 2006.

Dr. Andrew Palmer stepped down as an Executive Director of the Company and as CEO on 25 May 2020. The following remuneration arrangements apply in connection with the termination of Dr. Palmer’s employment:

- Dr. Palmer has a 12-month notice period which began on 25 May 2020. During his notice period he remains on garden leave and as such will be paid his normal salary and receive benefits.

- If Dr. Palmer’s employment ends prior to the expiry of his 12-month notice period, he will receive a payment in lieu of notice for his unserved notice period, calculated by reference to his base salary in respect of any unserved notice period. This will be paid in equal monthly instalments over the relevant period and will be reduced if Dr. Palmer finds alternative employment within this period.

- Dr. Palmer will not receive any bonus payment in respect of any part of 2020 or for any unserved notice period.

- Dr. Palmer’s 2019 award under the Aston Martin Lagonda Long-Term Incentive Plan 2018 will lapse and he will not be granted any award in respect of 2020.

- In respect of the shares that Dr. Palmer holds pursuant to the grants he was made prior to the IPO under the Legacy IPO LTIP, the terms of that plan treat him as ceasing employment for a Good Reason so that all vested shares which have not yet been released to him will be released on their respective release dates. These shares will be released to him on subsequent anniversaries of the IPO as follows: 347,026 shares released on 8 October 2020, 347,026 shares released on 8 October 2021 and 347,027 on 8 October 2022. Dr. Palmer has committed to hold the shares acquired through the April rights issue in respect of these shares on the same terms.

- It has been agreed that Dr Palmer will maintain a shareholding with a value of 150% of his base salary for two years from the date he stepped down as a director.

- Dr Palmer will continue to be covered by the Company’s D&O insurance and received a contribution towards his legal advice of £5,000 plus VAT.

28 April 2020

As announced on 23 April 2020, the Company continues to manage the challenges of COVID-19 and has taken various actions including the agreement of senior leadership to a voluntary reduction in pay. Non-Executive Directors are waiving 35% of their fees and the Chief Executive Officer is waiving 35% of his base salary and, as communicated in the 2019 Annual Report, will not participate in the FY 2020 annual bonus plan. Vice Presidents are waiving 20% of their base salaries. Other members of senior management have also been asked to voluntarily waive 5%-10% of base salary depending on salary level. These changes will be applied retrospectively for a three-month period from 1 April and will be kept under monthly review.

In his role as Executive Chairman, Lawrence Stroll has elected to receive a nominal salary only, of £1 per annum. Recently appointed non-executive director Michael de Picciotto has elected to waive his fee for 2020.

21 April 2020

The information below is provided pursuant to section 430(2B) Companies Act 2006.

As announced on 20 April, Dante Razzano stepped down from the Board with immediate effect upon the successful conclusion of the Placing and Rights Issue (on 20 April 2020). He is not entitled to any remuneration payments or payments for loss of office in connection with his ceasing to be a director of the Company.

17 April 2020

The information below is provided pursuant to section 430(2B) Companies Act 2006.

As announced on 27 February 2020, Mark Wilson will step down as CFO and as an Executive Director of the Company on 30 April 2020. He will remain available to the Group to assist with the transition in the period through to 30 June 2020. The following remuneration arrangements apply in connection with the termination of Mr Wilson’s employment:

- Mr Wilson continues to be paid salary and receive benefits as an employee in the period to 30 June 2020. In line with other Executive Committee members, Mr Wilson has waived 20 per cent. of his base salary that he would otherwise receive in that period.

- As Mr Wilson is entitled to 12 months’ notice, he will receive a payment in lieu of notice for his unserved notice period calculated by reference to his base salary. This will be paid in equal monthly instalments over the period to 27 February 2021 and will be reduced if Mr Wilson finds alternative employment and may be reduced with Mr Wilson’s agreement if continuing Company Executive Committee members extend the waiver of their base salary beyond 30 June 2020.

- Mr Wilson will not receive any bonus payment in respect of 2019 or any part of 2020.

- Mr Wilson’s award under the Aston Martin Lagonda Long-Term Incentive Plan 2018 will lapse and he will not be granted any award in respect of 2020.

- In respect of the shares that Mr Wilson holds pursuant to the grants he was made prior to the IPO under the Legacy IPO LTIP, he will be treated as an Intermediate Leaver and so retain an entitlement to a time pro-rated number of shares. These shares will be released to him on subsequent anniversaries of the IPO as follows: 41,927 shares released on 8 October 2020, 27,984 shares released on 8 October 2021 and 20,989 shares released on 8 October 2022. Mr Wilson has committed to hold any shares acquired through the rights issue in respect of these shares on the same terms.

- Other than shares that he forfeits under the Legacy IPO LTIP, Mr Wilson must retain all those shares in the Company that he holds as at 30 June 2020 for a period of two years until 30 June 2022.

- Mr Wilson will continue to be covered by the Company’s D&O insurance and received a contribution towards his legal advice of £5,000.