FORMULA 1
2O24 GENDER PAYGAP REPORT®

INTRODUCTION
Formula 1® remains committed to building a more diverse and inclusive sport, breaking
down barriers and encouraging people from all backgrounds to get involved in the sport,
as we aim to create a Formula 1 that reflects the world in which we race.
In 2017, Formula 1® was acquired by Liberty Media with a change of ownership and leadership and since then the organisation has
set out a comprehensive plan to improve diversity in the sport alongside detailed plans to become more accessible and inclusive.
Strong progress has been made against these plans and there’s more to come in the months and years ahead.
In the area of diversity and inclusion the focus is on:¬ Promoting diversity in the workplace;¬ Working with the teams, increasing diversity across the sport;¬ Making progress to address the gender pay gap;
¬ Increasing access and support for STEM education opportunities;¬ Improving access and opportunity for underrepresented groups in all roles in Formula 1.

GENDER PAY
Closing the gender pay gap continues to be a key priority for Formula 1®. The organisation continues to make progress inimproving female representation, and diversity more broadly, across all levels of the business.
This graphic shows the percentage of men and women permanently employed at Formula 1.

GENDER SPLIT

63%

37%

2023

2023

PAY QUARTILESLOWER
QUARTILE

LOWER MIDDLEQUARTILE

UPPER MIDDLEQUARTILEUPPERQUARTILE

49.7%

66.9%

65.2%

70.8%

51.1% in 2022

73.7% in 2022

67.9% in 2022

69.4% in 2022

46.7% in 201779.3% in 201783.7% in 201777.4% in 2017

50.3%

33.1%

34.8%

29.2%

48.9% in 2022

26.3% in 2022

32.1% in 2022

30.6% in 2022

53.3% in 201720.7% in 201716.3% in 201722.6% in 2017

ACTUAL GENDER PAY GAP+20.7%+17.2%

Mean Gap

Median Gap+20.2% in 2022
+51.9% in 2017+10.9% in 2022
+26.7% in 2017

DIVERSITY AND INCLUSION
Formula 1® has continued to promote a culture of inclusion in the workplace and acrossthe sport, attracting and retaining new diverse talent. Initiatives include:
F1® ACADEMYIn 2023 F1® Academy completed its inaugural season as a support race at the FORMULA 1 UNITED STATES GRAND PRIX in Austin.
Following seven rounds of competitive racing, Marta Garcia was crowned as the first F1 Academy Champion. The finale was the firstround to be broadcast live and was shown in more than 100 territories. The continuation of that live programming is one of manychanges that will be made for the second season of F1 Academy further raising the profile of the series and of women in motorsport.
As F1 Academy Champion, Marta Garcia will compete next season in FRECA in a fully funded seat, enabling her to continue her
single-seater competition at a higher level. In 2024, all 10 F1 teams will each have their own livery on a car and will nominate a driverto compete in the series, with the remaining five drivers and cars being supported by other commercial partners.
Formula 1® is providing visibility and support to F1 Academy, through having the series as a support event across seven of theGrands Prix™ in 2024 and providing financial support for each seat.

F1® ACADEMY DISCOVER YOUR DRIVE
In 2023 F1® Academy also launched a global initiative called ‘F1 Academy Discover Your Drive’ aimed at increasing the female
talent pool in motorsport both on and off the track. With a focus on the four pillars of Youth Engagement, Talent Identification,Participation & Progression, and Community, the initiative offers girls and young women the opportunity to take part in entry-level
programmes and professional schemes to promote and enhance female participation in the sport. The programme is operated byMotorsport UK, the governing body for four wheeled motorsport in the UK.
Throughout the 2024 season, F1 Academy Discover Your Drive will run activations around the world in the days leading up to race
weekends. These events look to engage local communities and invite girls aged 8-18 to attend a variety of workshops and activities
to inspire them to consider a future in motorsport.

SCHOLARSHIP PROGRAMME
Last year (2023) five leading universities in the UK and Italy offered the Formula 1® Engineering Scholarship to a new cohort ofengineering students as part of the ongoing Formula 1 scholarship programme, which was first announced in 2021.
Each scholarship covers the full cost of the student’s tuition alongside living expenses for the full duration of their degree. Thescholars also undertake work experience at one of the ten F1® teams during the second year of study as well as having access tocareer workshops and mentoring.
The scholarship programme is part of Formula 1’s wider commitment to make motorsport more diverse and accessible, withthe vision to increase career opportunities for students from underrepresented groups. Since the beginning of the scholarshipprogramme, 30 students from five partner universities have entered the scheme and in 2022 Formula 1 announced that it had
been extended until 2025 inclusive, supporting 50 students in total.

FORMULA 1®
ENGINEERINGSCHOLARSHIP
2023

HamzahPatrick

FabbihaSeanSpogmaiJesseMuaaz

F1® IN SCHOOLS PROGRAMME
2023 saw a record 68 teams compete in the 18th F1® in Schools World Finals in Singapore, offering 11–19-year-olds theopportunity to engage in the sport whilst learning STEM subjects. The F1 in Schools Programme is currently available in 60
different countries, and this will expand in the future to become the largest and most successful school-based STEM programmein the world.

DIVERSITY & INCLUSION WORKING GROUP
Representatives from Formula 1®, the FIA and all 10 F1® teams have come together to create the Formula 1 Diversity and Inclusion
Working group. The aim is to work collaboratively to find ways to increase diversity across F1 and the wider motorsport industry.
The focus of the working group to date has been to engage with children from a variety of different backgrounds to educate andinspire them, and diversify the future talent in the sport.

STEM SKILLS WORKSHOPS AT SCHOOLS
Formula 1®, the FIA and F1® teams continue to work together to drive STEM engagement in UK schools through a series of STEM
Challenge Days that are designed to give students a hands-on introduction into engineering and build vital life skills.
As part of the scheme, more than 400 secondary school students have taken part in STEM Challenge Days. The schools wereselected based on the Engineering UK EDI Criteria, which identifies schools that are likely to reach more young people from groups
that are underrepresented in the engineering profession, such as women, ethnic minorities, people with disabilities and from lower
socioeconomic backgrounds.

CAREER INSIGHT DAYSIn 2023 Formula 1® launched Careers Insight Days, a programme that welcomes students from local schools to its Media &Technology Centre to learn about professions in STEM and gain hands-on experience. Students hear from inspirational people atFormula 1 who hold a range of positions in the fields of technology, engineering, media, and broadcasting. They also receive an
exclusive behind-the-scenes tour of the facilities and a presenting masterclass in the F1® Live studio.

DIVERSITY & INCLUSION TRAINING
Formula 1® provides learning and development opportunities for colleagues through a range of courses including Inclusive Cultures
training, which is open to all employees at Formula 1. The course equips individuals with the key principles of equality, equity,diversity, and inclusion, and how to identify and tackle non-inclusive biases.

MY UNTOLD STORYMy Untold Story is a video series produced by F1®, its teams and the FIA that shines a light on the diverse and dynamic people thatmake up the world of F1. It showcases the variety of roles held by men and women in all aspects of the industry including STEM,
broadcasting, officiating, and administration.

THE NEXT GRAND PRIX WORKSHOP
Last year Formula 1® established The Next Grand Prix™ series of business insight workshops with the charity Social Mobility
Business Partnership (SMBP). The workshops are designed to provide meaningful (and fun!) work experience to students aged
16-18 who come from lower income backgrounds, with the aim of introducing them to careers in business.
Over the course of the workshop, students are split into groups and assigned a bid location from a shortlist of fictional fact files.
Each group is tasked with choosing their location’s preferred business strategy and then pitching to a set of judges, with each teammember taking on a C-suite role. This year, the number of work experience placements were doubled, providing placements to 100students across four workshops. Next year the aim is to provide placements to 300 students across 10 workshops. All students are
selected based on a range of social mobility indicators benchmarked by SMBP.

MISSION 44
Formula 1® works with Mission 44 to facilitate social impact events. At Silverstone, more than 50 young people fromunderrepresented backgrounds participated, visiting the paddock and Mercedes Garage. They also had the opportunity to meet
Sir Lewis Hamilton, listen to a sustainability talk from Ellen Jones, Head of ESG at Formula 1, and watch the Formula 1 action
across the weekend.
Similarly, at the USA Grand Prix™ in Austin, F1® Academy worked with Mission 44 to give young people the opportunity toexperience a Formula 1 paddock and hear from drivers and experts from F1 Academy, the Mercedes F1 team and others fromacross the paddock. These social impact programs aim to showcase the various STEM roles available throughout the entire
Formula 1 ecosystem.

Signed by:
Stefano Domenicali
Formula 1® President and CEO

Adrienne Heeley
Director of HR