Nordic Capital is committed to making a positive contribution to society and the communities in which we operate.

This applies to payment of tax in accordance with local laws and regulations.

Nordic Capital believes that all economic policies must be evaluated in the context of sustainability and tax policy is no exception.

We have a well-developed tax policy in place and expect all portfolio companies to take a similar approach.

Nordic Capital supports predictable and stable tax regimes that value long-term investment. It is not the role of investors or businesses to judge what level of taxation is fair and we comply with tax laws designed by governments to promote economic growth.

We expect portfolio companies to pay tax on income in the countries where they operate and believe in the principle that the same income should only be taxed once.

Our aim is that our investors should be taxed as if they had invested directly into the Fund’s portfolio companies. The need for tax transparency and neutrality is currently best served by structuring the Fund and its related holding companies in the jurisdictions of Jersey and Luxembourg.

Nordic Capital has a commercial approach towards its tax expenses and does not engage in stand- alone tax planning.

Nordic Capital encourages portfolio companies to ensure that taxes and charges are paid according to local laws and regulations in the countries they operate. Tax returns must be filed on a timely basis and relevant information requested by the appropriate tax authority must be provided without delay in order to accurately establish any tax liabilities. This approach improves transparency and allows the fund to better manage its tax- related risks throughout the life cycle of each investment.