1. Tax Strategy

2. Modern Slavery Act Statement

Kobalt Music Group Intermediate Ltd - Tax Strategy for the Year Ended 30 June 2025

This tax strategy is published in accordance with the UK legal requirements set out in Schedule 19 of the Finance Act 2016. It outlines the approach of Kobalt Music Group Intermediate Limited and its UK subsidiaries (together, “Kobalt”) to the administration of tax and the management of tax risks.

The approach of the group to risk management and governance arrangements in relation to UK taxation

Qualified staff within Kobalt are responsible for understanding the tax implications of the group’s activities and ensuring that tax risks are identified and addressed.

Where risks or areas of genuine uncertainty are identified, external advice may be sought and/or appropriate disclosures may be made to HMRC.

We consider the tax implications of any major business decision we make, to ensure that we continue to comply with applicable tax laws as the business grows and develops. We also ensure that we are kept informed of legislative changes in the UK and elsewhere so that we can take appropriate steps to remain compliant.

Responsibility for Kobalt’s tax strategy, tax policies and management of tax risk ultimately rests with the group Chief Financial Officer. Responsibility for implementation rests with the Vice President of Tax and other members of the finance team.

The attitude of the group towards tax planning (so far as affecting UK taxation)

Kobalt does not engage in any artificial tax arrangements. Where tax incentives or exemptions are relevant to Kobalt, we seek to apply them for their intended purpose only.

Kobalt’s affairs are structured so as to achieve our commercial objectives. Where different options exist to meet these commercial objectives, the tax position of these options will be considered, but we do not enter into transactions whose primary purpose is the avoidance of tax.

Transactions between Kobalt entities are on an arm’s-length basis and in accordance with OECD principles.

The level of risk in relation to UK taxation that the group is prepared to accept

Kobalt seeks to comply with all relevant tax legislation in the UK and elsewhere. We do not knowingly adopt any position on tax which might be considered contentious.

Where appropriate, clearance is sought from HMRC in advance of any transaction which might have a significant element of tax risk.

Approach to dealings with HMRC

Kobalt seeks to maintain amicable and transparent relationships with HMRC and with other tax authorities worldwide.

We aim to respond promptly and constructively to any requests for information from HMRC or other tax authorities.

Modern Slavery and Human Trafficking Transparency Statement

Kobalt Music Group Limited

September 2024

We understand that the introduction of section 54 of the Modern Slavery Act 2015 requires Kobalt Music Group Limited (“Kobalt”) to publish a Modern Slavery and Human Trafficking Statement in respect of the financial year ending 30 June 2024.

In preparing this statement, we have considered our supply chains and assessed the risk of slavery and human trafficking taking place within them. The following sets out Kobalt's position.

As a business which does not supply goods and provides the vast majority of its services using our in house team, our supply chains are limited in number and type. From time to time we outsource some work but it tends to be on project or temporary basis. Our permanent supply chains include those businesses which supply and maintain our offices.

As yet, we have not identified any real risks of slavery or human trafficking in our supply chains.

We do not have specific policies on slavery and human trafficking but we expect and trust all of our employees and suppliers to operate ethically and with integrity. Before we do business with any supplier we can, where reasonably practical to do so, use reasonable endeavours to carry out a due diligence process.

We will keep the subject matter of this statement under review and if we feel that the risks in our supply chains have increased, we will review the steps we take to combat slavery and human trafficking and take appropriate action.