Tax Strategy of AWIN Ltd

Year Ended 31 December 2024

Business Strategy and Tax Strategy Vision

The company stated above (“Axel Springer UK company”) is part of the Axel Springer Group (“Axel Springer”), whose parent company is Axel Springer SE and is registered in Germany. Axel Springer pursues a strategy of profitable growth, with the overarching goal of becoming the leading digital publisher. Sound, transparent corporate governance is considered to be a crucial element of responsible management, geared to increasing Axel Springer’s value on a sustainable basis. Axel Springer is committed to efficiency and transparency, holding core values of creativity, entrepreneurial spirit and integrity which are embedded in everything it does. It does not restrict its self-image to economic success alone.

Axel Springer’s UK business activities incur a variety of taxes, including corporate income taxes, business rates and employer’s national insurance. The businesses also collect and pay employment taxes and indirect taxes such as VAT. This tax strategy covers all UK taxes.

Axel Springer’s overall vision for tax is to deliver value to key stakeholders in a sustainable and compliant way and to grow our business, tax efficiently and with integrity.

Tax Strategy Objectives

Axel Springer manages tax by focusing on the below objectives.

Approach to Tax Risk Management and Governance

This tax strategy is owned by the Axel Springer Tax Department and the senior management of the Axel Springer UK companies are responsible for its delivery.

Axel Springer aims for the Axel Springer UK companies tax affairs to be compliant with UK tax legislation and the directors across all UK Axel Springer companies in the UK are committed to the delivery of tax compliance.

Axel Springer UK companies have an established business-wide risk management process which is embedded within the organisation to support the identification and effective management of risks across the business, including tax.

Axel Springer actively reviews and updates its tax reporting, tax risk management and governance processes, including how tax risk is identified, assessed and mitigated. Axel Springer UK companies’ UK-specific tax risk management framework, which facilitates the capturing of key UK tax risks such that they can be mitigated through the operation of effective controls, is also regularly reviewed.

The Finance Team of the Axel Springer UK companies are accountable in ensuring all tax filings are made in a timely manner, compliant with UK tax law and that any required tax payments are made on time. All individuals with a tax responsibility are suitably qualified to understand tax issues and keep up to date on tax through training and updates from tax advisors.

The Axel Springer Tax Department reviews all material corporate transactions and external advisors are consulted as necessary when faced with uncertainty, significant transactions or when specialist tax input is required to properly assess and manage significant tax-related risks.

Attitude Towards Tax Planning

Axel Springer UK companies’ attitude to tax risk and tax planning is carefully aligned to the strategic and commercial objectives of the Axel Springer UK companies and the Axel Springer UK companies do not enter into any aggressive tax planning arrangements.

Whilst Axel Springer UK companies aim to comply with all applicable UK laws and regulations, they will consider the most tax efficient way to undertake business transactions to deliver value to their stakeholders where appropriate. Axel Springer UK companies will therefore utilise available tax reliefs, incentives and exemptions, including available tax deductions on capital investments. These are only taken if aligned with commercial and economic activity, are not opposed to the spirit of the law and the UK government intended them to be available to the Axel Springer UK companies.

Axel Springer UK companies’ tax activities shall not compromise Axel Springer’s ethical principles or cause damage to the reputation of Axel Springer.

Level of Tax Risk That Axel Springer is Prepared to Accept

Axel Springer’s appetite for tax risk is low and operations are only structured based on sound commercial and business principles.

Axel Springer acknowledges that the elimination of all tax risk is not practical due to differences in interpretation and the complexity of tax legislation. However, Axel Springer is committed to the identification and monitoring of relevant tax risks within the UK. This is achieved through Axel Springer UK companies’ tax risk management and governance framework which covers tax risk identification, assessment and mitigation to acceptable levels and escalation to the relevant Axel Springer UK company board where necessary. Controls to reduce or avoid tax risks are monitored as part of this process.

Approach Towards Dealing With Tax Authorities

The Axel Springer UK companies are committed to openness and transparency in all of their dealings with HMRC and seek a proactive relationship with HMRC, encouraging open dialogue on a timely basis. Where any tax law is unclear or subject to interpretation, the Axel Springer UK companies will engage with external tax advisers to ensure they remain compliant in all of their operations. Where applicable the Axel Springer UK companies will work with HMRC to attempt to resolve any differences in a timely and professional manner.

This published tax strategy satisfies Schedule 19 of the UK Finance Act 2016.