TAX STRATEGYThis document refers to the financial year to 31 December 2023
INTRODUCTION AND SCOPE
Campari Group (the “Group”), founded in 1860, is a major player in the global spirits industry, with apor�olio of over 50 premium and super premium brands, spreading across Global, Regional and Local
priori�es.
The Group has a global distribu�on reach, trading in over 190 na�ons around the world with leadingposi�ons in Europe and in the Americas.
Headquartered in Sesto San Giovanni (Italy) with its legal oﬃce registered in the Netherlands, theGroup owns several plants worldwide and has its own distribu�on network in almost 22 countries. The
shares of the parent company, Davide Campari-Milano N.V. (Reuters CPRI.MI - Bloomberg CPR IM),
have been listed on the Italian Stock Exchange since 2001.
Glen Grant Limited (“Glen Grant”) is a company belonging to the Group engaged in the manufacturingof the Single Malt Scotch Whisky Glen Grant, as well as in the distribu�on ac�vi�es of the Campari
por�olio brands.
Glen Grant is located in the United Kingdom, it carries out its own manufacturing and dis�lla�onac�vity in Rothes, Aberlour (Scotland) and its commercial business at 14-16 Gt Portland Street,London.
This tax strategy applies to Glen Grant Limited in accordance with of Paragraph 16(4) of Schedule 19
to the Finance Act 2016, and this document aims to describe the main aspects of the tax strategy,
which is applied consistently to all companies within the Group, including Glen Grant Limited. It applies
from the date of publica�on un�l superseded.
APPROACH TO TAX RISK MANAGEMENTThe Group acts responsibly in all of its tax maters.
The Group is aware of the importance of its economic impact on the communi�es in which itoperates. Among other things, such impact includes the tax contribu�ons of the Group.
In light of the above, the management of the tax risks is carried out in order to ensure compliancewith all the applicable tax laws and regula�ons in the countries in which the Group operates,
including the �mely payment of the correct amount of taxes and the proper fulﬁlment of the tax
repor�ng and disclosure requirements.
Glen Grant Limited t/a Campari UK
14-16 Great Portland Street, London W1W 8QW - T: +44 (0)20 3100 9600
www.camparigroup.com – office.uk@campari.com - Company Number SC292101
Registered in Scotland
Registered Office: Glen Grant Distillery, Rothes, Morayshire, AB38 7BS – T: +44 (0)1340 832103

At this aim, mul�ple levels of review are performed, in order to ensure a diligent professional careand judgment to iden�fy, monitor and manage poten�al tax risks.
The local management is in charge of the tax compliance, with the support of local staﬀ who areappropriately trained and experienced. General coordina�on is provided by the group tax func�on,which is located at the headquarters in Sesto San Giovanni (Milan - Italy).
In case of uncertainty on the applica�on or interpreta�on of tax law, appropriate writen advice istaken from third party advisers.
ATTITUDE TO TAX PLANNING
The Group makes a good faith eﬀort to remain compliant with applicable tax laws while remaining
focused on crea�ng sustained value for its stakeholders. In this context, tax planning is considered
and undertaken only if it is supported by, and in the spirit of, the law and consistent with both thebusiness of the Group and its mission and values, as deﬁned by the Group Code of Ethics.
This means that the Group structures its business, transac�ons and investments in a manner which isat the same �me tax-eﬃcient and compliant with the regulatory, legal and commercial environment.
As a general principle, corpora�on tax is paid by the Group in the country in which the value arises.
An objec�ve view of the interpreta�on of the tax laws and regula�ons is taken in rela�on to eachcountry in which the Group is present, also, if appropriate, with the support of the external advisors.
LEVEL OF RISK THAT GLEN GRANT IS PREPARED TO ACCEPTTax risk is managed in a manner consistent with the management of all other risks within the Group,
taking into account the approach and a�tude to tax maters set-out above. In par�cular the tax risks
are minimized through the adop�on of adequate internal controls and by conforming to the bestinterpreta�on of the laws and principles of each relevant jurisdic�on, taking into account interna�onal
prac�ce, when applicable, and seeking the advice of external counsel, when appropriate. Speciﬁcally,a tax risk assessment procedure for decision making is followed within the Group. All the Group tax
func�on members are ac�vely involved in the process. In this context, ﬁnancial risks (e.g. likelihood ofincome statement impact) and poten�al reputa�onal risks are also taken into considera�on.
APPROACH TO WORKING WITH HMRC
The Group adopts transparent, construc�ve and collabora�ve rela�onships at all �mes with HM HM
Revenue & Customs (as well with the other tax authori�es of the countries in which the Groupoperates).
Glen Grant Limited t/a Campari UK
14-16 Great Portland Street, London W1W 8QW - T: +44 (0)20 3100 9600
www.camparigroup.com – office.uk@campari.com - Company Number SC292101
Registered in Scotland
Registered Office: Glen Grant Distillery, Rothes, Morayshire, AB38 7BS – T: +44 (0)1340 832103

This means that, where appropriate, the Group is engaged in a fully dialogue with HM Revenue& Customs to discuss all the relevant items.
In the event that HM Revenue & Customs requests further informa�on, a prompt response is provided
as soon as possible and any inadvertent errors in submissions made to HM Revenue & Customs are
fully disclosed as soon as reasonably prac�cable a�er they are iden�ﬁed.

Glen Grant Limited t/a Campari UK
14-16 Great Portland Street, London W1W 8QW - T: +44 (0)20 3100 9600
www.camparigroup.com – office.uk@campari.com - Company Number SC292101
Registered in Scotland
Registered Office: Glen Grant Distillery, Rothes, Morayshire, AB38 7BS – T: +44 (0)1340 832103