TAXATION STATEMENT

Tax Strategy

Scope

This tax strategy applies to Reesink UK LTD. in accordance with provisions of Schedule 19 to the Finance Act 2016 in respect of the financial year ended 31 December 2019 and applies from the date of publication until it is superseded.

References to ‘UK Taxation’ are to the taxes and duties set out in paragraph 15(1) of the Schedule which include Income Tax, Corporation Tax, VAT, PAYE, Diverted Profits Tax, Insurance Premium Tax, Stamp Duty Land Tax, Customs Duties, Excise Duties and National Insurance Contributions. References to ‘tax’, ‘taxes’ or ‘taxation’ are to UK taxation and to all corresponding worldwide taxes and similar duties in respect of which the Reesink UK LTD. has legal responsibilities.

Aim

Reesink UK LTD. is committed to full compliance with all statutory obligations and full disclosure to relevant tax authorities. Reesink UK LTD’s tax affairs are managed in a way which takes into account the group’s wider corporate reputation in line with Reesink UK LTD.’s overall high standards of governance.

Reesink UK LTD. tax strategy supports the groups business strategy and therefore supports genuine commercial activity.

Governance in relation to UK taxation

• Ultimate responsibility for the global tax strategy sits with the groups Finance Director who reports to the Chief Financial Officer (‘CFO’) both based in Reesink Group’s Dutch headquarters;

• Responsibility for UK tax matters sits with the Manager International Tax who oversees all UK tax matters. The Manager International Tax has an obligation to manage and monitor risk and to ensure the adequacy and appropriateness of governance procedures for Reesink UK LTD.;

• Day to day management of UK tax affairs is overseen by the business unit controller, with additional responsibilities delegated to other employees and accountants where appropriate;

• The Finance and Tax team are staffed with appropriately qualified individuals;

• The CFO is the Board member with executive responsibility for tax matters;

• The Board ensures that the global tax strategy is one of the factors considered in all investments and significant business decisions taken.

Risk management

• Reesink UK LTD. operates a system of tax risk assessment and controls as a component of the overall internal control framework applicable to the group’s financial reporting system;

• Reesink UK LTD. seeks to reduce the level of tax risk arising from its operations as far as is reasonably practicable by ensuring that reasonable care is applied in relation to all processes which could materially affect its compliance with their tax obligations;

• Processes relating to different taxes are allocated to appropriate process owners, who carry out a review of activities and processes to identify key risks and mitigating controls in place. These key risks are monitored for business and legislative changes which may impact them and changes to processes or controls are made when required;

• Appropriate training is carried out for staff who manage or process matters which have tax implications;

• Advice is sought from external advisers where appropriate.

Attitude towards tax planning and level of risk

• Reesink UK LTD. manages risks to ensure compliance with legal requirements in a manner which ensures payment of the right amount of tax.

• When entering into commercial transactions, Reesink UK LTD. seeks to take advantage of available tax incentives, reliefs and exemptions in line with, and in the spirit of, tax legislation. Reesink UK LTD. does not undertake tax planning unrelated to such commercial transactions.

• The level of risk which Reesink UK LTD. accepts in relation to UK taxation is consistent with their overall objective of achieving robustness in the group’s tax affairs. At all times Reesink UK LTD. seeks to comply fully with their regulatory and other obligations and to act in a way which upholds their reputation as responsible corporate citizens. In relation to any specific issue or transaction, the Board is ultimately responsible for identifying the risks, including tax risks, which need to be addressed and for determining what actions should be taken to manage those risks, having regard to the materiality of the amounts and obligations in question.

Relationship with HMRC

• Reesink UK LTD. seeks to have a transparent relationship with HMRC ensuring that relevant information in respect of developments in its business, current, future and retrospective tax risks, and interpretation of the law in relation to all relevant taxes are made available as and when required.

• Reesink UK LTD. ensures that HMRC is kept aware of significant transactions and changes in the business. When submitting tax computations and returns to HMRC, Reesink UK LTD. discloses all relevant facts and identifies any transactions or issues where it considers that there is potential for the tax treatment to be uncertain.

• Any inadvertent errors in submissions made to HMRC are fully disclosed as soon as reasonably practicable after they are identified.