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UK Tax Strategy

The UK Finance Act 2016 requires qualifying entities in the UK to publish their tax strategy and policy in conducting their tax affairs and dealing with tax risk. Russell Reynolds Associates Inc. (“RRA” and “Company”) and its UK subsidiary Russell Reynolds Associates Ltd. (“RRA-UK”), as approved by RRA’s Board of Directors (“Board”), has prepared and published a UK Tax Strategy and Policy in accordance with this requirement. The publication is complies with our duty under paragraph 22 (2) Schedule 19, of the UK Finance Act 2016.

Board Statement

In accordance with our global Code of Business Conduct & Ethics (the “Code”), RRA and its affiliates (“RRA Group”) respect and comply with the laws of the various countries where our Company operates with regards to taxation of our corporate activities. RRA Group pays all taxes due, including payments of corporate income tax, indirect taxes such as VAT, GST and sales tax and employer’s tax liabilities.

Approach to Tax Risk and Governance

RRA-UK is committed to complying with its UK tax obligations and operating within the Code. Ultimate responsibility and accountability for RRA-UK’s tax risk and affairs rest with the Chief Financial Officer of RRA who liaises regularly with the Global Tax team. Day-to-day responsibility for managing RRA-UK’s tax risk lies with the UK Finance function with support as appropriate from the Global Tax team.

RRA gives tax risk management an appropriate level of consideration which allows the Company to identify, measure, manage and report UK tax risks. Where there is potential uncertainty or complexity in relation to a UK tax risk, external advice may be sought.

Tax Planning

Any planning considers our Code and the potential impact on our reputation and broader organizational goals. RRA does not enter into artificial or aggressive arrangements with a sole purpose of minimizing or reducing its tax liabilities. RRA’s policy is to operate within both the letter and spirit of the UK tax law at all times.

Transactions between the RRA Group entities are conducted on an arms-length basis in accordance with appropriate transfer pricing rules and OECD principles.

Level of Tax Risk

RRA has a low appetite for tax risk. Our internal framework operates to support compliance with tax laws and regulations in the UK and to ensure we identify, assess and mitigate tax risks.

Working with HMRC

RRA and the Global Tax team endeavor to deal professionally, transparently and appropriately with the UK tax authority. We seek to ensure that our relationship with HMRC is professional, open and honest, and is undertaken in a spirit of cooperation.

15 December 2022