ITOCHU Tax Policy Statement
Commercial Context
The ITOCHU Corporation worldwide group of companies (‘ITC’) is a leading example of a type oflarge Japanese corporation known as a ‘trading house’ (sogo shosha). As a trading house, ITC’s
activities are diversified; the group is involved in domestic trading, import / export, and overseas
trading of various products such as textiles, machinery, metals, minerals, energy, chemicals, food,general products, realty, information and communications technology, and finance, as well as having
involvement in business investment in Japan and overseas.
ITC has approximately 120 bases in 63 countries. The UK is a key jurisdiction for the group in light of
its significant operations in the country. The European headquarter company (ITOCHU Europe Plc) is
set up in the UK while a number of group companies operate across a range of industries (in linewith the diversified activities of the global group), with each company focussing on specific productsand services.
Tax profile and commitment to compliance
The UK members of ITC have a diverse range of business activities generate a similarly diverse rangeof tax liabilities and tax compliance obligations.
We pay corporation tax, employment tax, value added tax (‘VAT’), withholding tax, capital / propertytax (including stamp duty), customs duty and excise duty.
We are committed to compliance with tax law and practice, to ensure that we pay the right amountof tax in the right place at the right time.
The international nature of our business means that transfer pricing is a key tax consideration. We
are committed to adhering to UK tax law and OECD principles and documentation standards inrespect of transfer pricing.
Tax risk management and governance
We have a decentralised management structure which means that the management of theindividual UK companies and subgroups have the authority and responsibility for implementing tax
risk management and governance arrangements appropriate for their businesses.
Our Tax Policy Statement is also aligned with our Global Code of Conduct and Group Tax Policy, andhas been approved by the Board of ITOCHU Europe Plc.
Our approach to tax risk management is to ensure that tax risks are proactively identified, measured,managed and reported.

The following are key features of our approach:• Creating an awareness of tax risk at all levels within the organisation;• Instilling a culture of tax risk management and tax risk ownership;• Embedding tax risk management in the way the business is run, based on the likelihood,significance and defined scale of exposure.
Each UK member of ITC is within the scope of the UK’s Senior Accounting Officer (‘SAO’) legislation
which imposes accountability for tax compliance processes on a senior finance officer in relation toeach qualifying company. In line with the decentralised management structure, there are multiple
SAOs within the UK group structure. The SAO of each relevant company is responsible for thedelivery and implementation of our Tax Policy Statement.
The individual SAOs may delegate tasks associated with ensuring the proper management of tax to
one or more appropriate individuals in their team; however, the SAO retains the ultimate
responsibility and accountability.
External advisors are regularly consulted to ensure we remain compliant with our tax obligations.
Any involvement of third party tax advisors is a decision made by the person in charge of therelevant tax, and is a matter for their professional judgement. All decisions to use an external third
party advisors must be signed off by the CFO (or SAO) before proceeding.
Tax Planning
In line with our management philosophy we comply with the letter, spirit and intention of tax
legislation whilst meeting our responsibility to shareholders and other stakeholders to manage ourtax position efficiently.
Tax Risk Appetite
We are exposed to various tax risks due to the diverse nature of our business activities. However,
we have a low tax risk appetite and look to manage tax risk pro-actively as described above.
HMRC relationship
ITOCHU Europe Plc has the primary relationship with the appointed Customer Compliance Manager(‘CCM’). However, the Finance team or responsible individual at each ITOCHU company shares
responsibility for maintaining and developing the relationship with HMRC and in particular therelationship with the CCM.
We seek to develop and maintain an open and proactive relationship with HMRC and otherapplicable tax authorities.

List of ITOCHU companies who have signed up to the ITOCHU Tax Policy Statement:

ITOCHU Europe Plc
CIECO West Qurna Limited
CIECO Energy Service (UK) Limited
I-Solar Investment Limited
I-Environment Investments Limited
I-Environment Investments Middle East Limited
ITC Platinum Development Limited
ITOCHU Treasury Centre Europe Plc
First Response Finance Limited
Plastribution Limited
Eagle Plastics Limited
DTM Renewables Limited
ITOCHU Fibre Limited
European Tyre Enterprise Limited
Stapleton's (Tyre Services) Limited
Speedy 1 Limited
Kwik-Fit Group Limited
Kwik-Fit Finance Limited
Kwik-Fit Holdings Limited
Kwik-Fit (GB) Limited
TPAS (UK) Limited
Kwik-Fit Properties Limited
Central Tyre (Commercial) Limited
Fettle Bike Repair Ltd
Kwik-Fit Euro Limited
Detailagent Limited
Kwik-Fit (NL) Limited
Anglo-Dutch Property (UK) Holding Limited
Tyreplus.co.uk Limited
Murfitts Group Limited
Murfitts Industries Limited
Tyre Recovery Systems Limited
CE Holdings Limited
Credential Environmental Limited
Multiquip (UK) Limited
MCL Group Limited
ITOCHU LOGISTICS (EUROPE) GMBH UK Representative Office
Naes Power Solutions Limited

The publication of this statement is regarded as complying with Part 2 of Schedule 19 of FA 2016 inrespect of ITC’s group as at the end of 31 March 2024.