UK TAX STRATEGY

This document has been prepared and it is intended to satisfy the reporting obligations foreseen under paragraph 16(2) of Schedule 19 of the Finance Act 2016.
This document applies to Valentino England Limited (“VUK” or the “Company”), a UK resident company part of the Valentino Group and directly controlled by Valentino S.p.A. (“Valentino”), and sets out the Company’s approach to tax for the year to 31 December 2023.

In Valentino Group, a strong focus is dedicated to the corporate responsibility, where a responsible administration of tax matters and the accurate payment of taxes are two of its pillars.

1. Scope and purpose

This document has been prepared in accordance with paragraph 16(2) of Schedule 19 to the UK Finance Act 2016 and sets out the approach to taxation of Valentino England Limited ("VUK" or the "Company"), a UK resident company directly controlled by Valentino S.p.A. (the "Valentino Group").

This UK Tax Strategy is fully consistent with and derives from the Valentino Group Tax Strategy, approved by the Board of Directors of Valentino S.p.A. on 13 September 2023, and reflects the Group’s overarching principles of tax compliance, tax risk management and tax transparency.

2. Tax governance framework

2.1 Group principles

VUK conducts its tax affairs in line with:

• the Valentino Code of Conduct;

• the Valentino S.p.A.Tax Strategy;

• applicable UK and international tax laws; and

• recognised best practices in tax governance.

The Valentino Group adopts a zero-tolerance approach to violations of tax laws and rejects any form of aggressive or artificial tax planning that is not supported by economic substance or business purpose.

2.2 Roles and responsibilities

• Overall responsibility for the implementation of tax governance rests with the Board of Directors of VUK, which oversees tax risk management and governance arrangements.

• Day-to-day tax matters are managed by the UK Finance team, in coordination with the Group Tax Function, ensuring accurate, transparent and timely tax reporting.

• The Group Internal Audit Function periodically reviews tax-related risks and controls.

This governance model ensures consistency between UK tax management and the broader Tax Control Framework (TCF) implemented by Valentino S.p.A.

3. Tax risk management

3.1 Approach to tax risk

The Valentino Group recognises tax risk as the risk of:

• non-compliance with tax laws and regulations;

• misinterpretation or uncertain interpretation of tax legislation;

• reputational damage arising from tax positions or behaviours.

VUK applies a structured, preventive and proportionate tax risk management approach, consistent with the Group Tax Control Framework, aimed at identifying, assessing, monitoring and mitigating tax risks.

3.2 Level of acceptable risk

VUK is not prepared to accept more than immaterial levels of tax risk.

Where UK tax legislation is unclear or subject to interpretation, the Company usually requests suppot to local tax advisors or to the Group Tax Function, adopting tax positions that are at least “more likely than not” to be sustainable, ensuring alignment with:

• the wording, intent and spirit of the law;

• prevailing HMRC guidance and practice, where available.

Artificial tax schemes, abusive arrangements or structures aimed at achieving undue tax advantages are expressly excluded.

4. Tax compliance

VUK is liable for a broad range of UK taxes, including:

• Corporation Tax;

• Value Added Tax (VAT);

• PAYE and National Insurance Contributions;

• Stamp Duty Land Tax.

The Company is committed to:

• filing complete, accurate and timely tax returns;

• paying the right amount of tax at the right time;

• maintaining appropriate documentation and audit trails.

Tax returns are prepared with the support of external UK tax advisers, reviewed and approved internally prior to submission.

5. Tax planning

VUK recognises its responsibility to contribute fairly to public finances in the jurisdictions where it operates, while also safeguarding shareholder value through legitimate and responsible tax planning.

Accordingly:

• tax planning is driven by business purpose and commercial substance;

• arrangements are simple, transparent and well understood;

• tax benefits must never override compliance with applicable laws.

This approach is fully aligned with the Group’s policy, prohibiting aggressive tax planning and the use of non-cooperative or low-tax jurisdictions for tax avoidance purposes.

6. Relationship with HMRC and tax transparency

VUK promotes a cooperative, transparent and professional relationship with HMRC, consistent with the Valentino Group’s principles of tax transparency.

The Company is committed to:

• engage proactively with HMRC where appropriate to disclose and resolve uncertain tax positions;

• cooperate fully in the event of tax audits or enquiries;

• participate in consultation processes when tax matters may have a material impact for its business.

VUK may rely on external UK advisers to liaise with HMRC on its behalf, ensuring timely and accurate communication.

7. Controls, training and culture

In line with Valentino S.p.A.’s Tax Strategy:

• tax compliance culture is promoted across the organisation;

• tax considerations are embedded into business decision-making;

• no incentive mechanisms are linked to the achievement of improper reductions in tax burden.

The Board of Directors ensures appropriate "tone at the top", supporting ethical behaviour, transparency and accountability in tax matters.

8. Review and publication

This UK Tax Strategy is reviewed periodically to ensure ongoing alignment with:

• the Valentino S.p.A.’s Tax Strategy;

• changes in UK tax legislation;

• evolving best practices in tax governance.

The document is publicly available in accordance with UK statutory requirements.

Date published: May 25th 2026