OSG UK group tax strategy

This document relates to the UK Tax Strategy of all UK tax resident entities and permanent establishments under the ownership of OSG Corporation. This document is published by OSG UK Limited on behalf of itself and the entities listed in the Appendix (the “OSG UK Group”) in accordance with Paragraph 19(2), Schedule 19 of the UK Finance Act 2016.

This document was approved by the Board of Directors of OSG UK Limited on 31^st March 2026 and will be updated as necessary, to ensure it is reflective of the OSG UK Group’s approach to UK tax.

Business overview

The OSG UK Group’s principal activity is the procurement, manufacture, re-grinding and the eventual sale of engineers cutting tools to end users and distribution. Our customers are primarily UK-based but sales are also made to other countries world-wide, including sales to our sister companies. Primary business sectors in which our customers operate are Automotive, Aerospace, Die & Mold, Medical & Orthopaedic, as well as independent sub-contract engineering.  

We also sell our own brand of engineers’ cutting tools, primarily to end-users and distributors through our UK subsidiary Brunswick Tooling Limited.

Management of UK tax risks

We are committed to complying with all relevant tax laws and regulations, including in the UK.

UK tax falls within the remit of the Finance Manager of OSG UK Limited, who has the requisite skills and professional experience and qualifications to carry out their responsibilities relating to UK tax.

We ensure through our finance function that our obligations with respect to UK tax are complied with robustly. The preparation and submission of our UK tax computations and returns are outsourced to a third-party provider, reviewed by the OSG UK Group and are filed accurately and in a timely manner. Tax payments are also made in a timely manner through the Quarterly Instalment Payments regime.

All related party transactions are undertaken under the arm’s length principle in line with relevant Transfer Pricing regulations. Transfer Pricing Documentation is prepared to document the pricing of such transactions.

Where there is any uncertainty with respect to UK tax, we engage with third-party tax advisors as appropriate.

Attitude to tax planning

We do not engage in any artificial tax planning or implement any transactions or structures which are not for commercial purposes.

We make use of tax reliefs available to us in line with the relevant tax legislation and our business strategy of maximising value for our shareholders.

Attitude towards tax risk

Through internal governance and controls, we aim to comply with all relevant tax laws and regulations and reduce the level of tax risk within our business to an acceptable level.

We engage with specialist advisors or will approach HMRC as required if there is any uncertainty with respect to our UK tax position.

Working with HMRC

We aim for an open, transparent and honest relationship with HMRC in order to meet local tax obligations.

Through accurate and timely submission of our UK tax returns and settlement of our UK tax payments, we are committed to a good relationship with HMRC.

Where there are any enquiries into our UK tax matters by HMRC, we will work with HMRC constructively.

Approved by the Board of Directors of OSG UK Limited on 31^st March 2026.

Appendix

• Brunswick Tooling Limited