Aston Martin Lagonda Regulatory News (AML)

15 December 2020

Aston Martin Lagonda Global Holdings plc

Notification of transactions by Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them

Aston Martin Lagonda Global Holdings plc (the "Company") announces the following changes in the interests of Directors in the Ordinary Shares in the Company ("Shares"), which took place on 14 December 2020.

In accordance with the rules of the Aston Martin Lagonda Long-Term Incentive Plan 2018 ("LTIP"), the Directors named below were granted nil-cost options over Shares as follows:

· Tobias Moers (CEO) - 211,618 shares (300% of salary)

· Kenneth Gregor (CFO) - 70,539 shares (200% of salary)

The LTIP awards are the 2020 grant which was delayed due to the unprecedented uncertainty and change faced during 2020 (both specifically for the Company and externally due to Covid-19). The Remuneration Committee were able to determine the most appropriate approach and approved the 2020 LTIP grant at its October 2020 meeting, once the new leadership team and an updated business plan were established. The LTIP awards were granted at the first opportunity post this approval, following the General Meeting held on 4 December 2020 and on the first dealing day of the consolidated shares.

These LTIP awards are subject to the performance conditions, performance periods, vesting periods and malus and clawback provisions set out below, in-line with the Remuneration Policy approved in 2019. The targets related to Adjusted EBITDA performance remain commercially sensitive at this point and will be set out in the 2020 Directors' Remuneration Report which is expected to be published in March 2021, along with full details of the LTIP awards.

2020 Performance measures

* Vesting will be on a straight-line basis between each of threshold and stretch, and stretch and maximum for the EBITDA element and threshold and maximum for the TSR element

· TSR performance will be measured on a ranked basis against the following luxury companies: Burberry, Capri Holdings, Compagnie Financiere Richemont, Ferrari, Hermes International, Kering, LVMH, Moncler, Prada and Ralph Lauren.

· The Remuneration Committee retains discretion to adjust the vesting levels to ensure they reflect underlying business performance and any other relevant factors to ensure that the value at vesting is fully reflective of the performance delivered and executives do not receive unjustified windfall gains.

Performance period

· The period over which the EBITDA performance condition will be measured is from 1 January 2020 to 31 December 2022 (three financial years).

· The period over which the TSR performance condition will be measured is from 14 December 2020 to 13 December 2023 (three years from grant date).

Vesting period

· Subject to performance, the element of awards subject to EBITDA performance will vest following the announcement of results for 2022 (early March 2023).

· Subject to performance, the element of awards subject to relative TSR performance will vest three years from grant, following the Remuneration Committee's determination of the performance outcome.

· The CEO and CFO will be required to hold at least 75% of any shares that vest (net of tax) until they have met their shareholding guidelines under the shareholding policy.

Malus and Clawback:

· Malus and clawback provisions will be operated at the discretion of the Remuneration Committee in respect of awards granted under the LTIP where it considers that there are exceptional circumstances. Such exceptional circumstances may include serious reputational damage, a failure of risk management, an error in available financial information, which led to the award being greater than it would otherwise have been or personal misconduct.

· Clawback may be applied for a period of up to three years for any LTIP awards.

Enquiries:

Notification of transactions by Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them

Notification of transactions by Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them