In compliance with section 161 and section 19 (2) of schedule 19 Finance Act 2016, we publish

below our tax strategy.

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Our business has a strong focus on ethics and corporate responsibility. We see responsible

administration and payment of taxation as a fundamental part of our obligation to society.

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We aim to create a business that anticipates and mitigates the risks to its future sustainability and look to identify opportunities and promote the organisations ethical code to relevant stakeholders and interested parties.

Our overall tax strategy is to:

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• Comply with all relevant laws, rules, regulations, and reporting and disclosure requirements, wherever we operate

• Pay the correct amount of tax at the right time

• Identify, evaluate, monitor and manage tax, legal and regulatory risks

• Apply professional diligence and care in the management of all risks, including tax matters

• Take an appropriate and balanced approach when considering how to structure tax-sensitive transactions

• Utilise tax reliefs and incentives where available in a manner which is consistent with applicable law and regulations

• Consider the tax impact in major or complex business decisions, for example acquisitions

The Group’s strategic aim is to be low risk in respect to tax compliance and to have a strong relationship with HMRC. The Group seeks to achieve this aim through submission of all UK Tax returns on a timely basis and paying the appropriate amount of tax at the right time.