ONO PHARMA UK LTD Tax Strategy
Scope
ONO PHARMA UK LTD was incorporated as a private limited company under the Companies Act 1985 inthe U.K. ONO PHARMA UK LTD is a wholly owned subsidiary of ONO PHARMACEUTICAL CO., LTD.
ONO PHARMACEUTICAL CO., LTD is a company established in Japan.
This strategy applies to ONO PHARMA UK LTD in accordance with Paragraph 22 of Schedule 19 to theFinance Act 2016. In this strategy, references to ‘ONO PHARMA UK’ and ‘the company’ are all to thisentity. The strategy has been published online in accordance with Paragraph 22(2) of Schedule 19.
In this strategy, references to ‘the Board’ are all to the Board of Directors of ONO PHARMA UK. Thisstrategy has been approved by the Board and will remain in effect until any amendments are approved bythe Board. References to ‘UK Taxation’ are to the taxes and duties set out in paragraph 15(1) of theSchedule which include Income Tax, Corporation Tax, PAYE, NIC, VAT, Insurance Premium Tax, andStamp Duty Land Tax. References to ‘tax’, ‘taxes’ or ‘taxation’ are to UK taxation and to all corresponding
worldwide taxes and similar duties in respect of which the company has legal responsibilities.
Aim
ONO PHARMA UK is committed to full compliance with all statutory obligations and full disclosure torelevant tax authorities. The company’s tax affairs are managed in a way which takes into account thecompany’s wider corporate reputation in line with ONO PHARMA UK’s overall high standards ofgovernance.
Governance in relation to UK taxation
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Ultimate responsibility for ONO PHARMA UK’s tax strategy and compliance rests with the Board;
The Managing Director (‘MD’) is the Board member with executive responsibility for tax matters;
Day-to-day management of ONO PHARMA UK’s tax affairs is delegated to the Corporate Service
Associate Manager , who reports to the MD;
The Corporate Service Department is staffed with appropriately qualified individuals;
The Board ensures that ONO PHARMA UK’s tax strategy is one of the factors considered in allinvestments and significant business decisions taken.

Risk Management••••

ONO PHARMA UK assesses tax risk as part of its accounting affairs and the design of its internalcontrols;
ONO PHARMA UK seeks to reduce the level of tax risk arising from its operations as far as isreasonably practicable by ensuring that reasonable care is applied in relation to all processes which
could materially affect its compliance with its tax obligations;
Appropriate training is carried out for staff who manage or process matters which have tax implications;
External advisers provide tax compliance support and further advice is sought where appropriate.

Attitude towards tax planning and level of risk
ONO PHARMA UK 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, ONO PHARMA UK seeks to take advantage of available tax
incentives, reliefs and exemptions in line with, and in the spirit of, tax legislation. ONO PHARMA UK does
not undertake tax planning unrelated to such commercial transactions.
The level of risk which ONO PHARMA UK accepts in relation to UK taxation is consistent with its overall
objective of achieving certainty in the company’s tax affairs. At all times ONO PHARMA UK seeks tocomply fully with its regulatory and other obligations and to act in a way which upholds its reputation as aresponsible corporate citizen. 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 andobligations in question.
Relationship with HMRC
ONO PHARMA UK ensures that HMRC is kept aware of significant transactions and changes in thebusiness and seeks to discuss any tax issues arising at an early stage. When submitting tax computations
and returns to HMRC, ONO PHARMA UK discloses all relevant facts and identifies any transactions orissues 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.

This tax strategy is published due to meeting the requirements in relation to the financial year ended 31stMarch 2023.

Date of publication: March 2024