Susquehanna Dublin Limited (UK Branch) Tax Strategy

The Susquehanna International Group of Companies ("SIG") is a world-leading technology-empowered financial trading group. Founded in 1987, SIG has grown from an options trading firm on the floor of the Philadelphia Stock Exchange to one of the world's largest privately held financial institutions. Today, with offices around the world, SIG trades almost every major financial product and is recognised for its disciplined and quantitative trading approach and its leading-edge trading systems.

SIG's European presence was established in Ireland in 1999 and includes affiliates such as Susquehanna Dublin Limited ("SDL"), which provides trading and support service personnel to affiliate companies.

SDL pays corporate taxes, employment related taxes, value-added taxes ("VAT") and other applicable taxes. The taxes paid represent a significant contribution to the economy and SDL is committed to complying with tax laws and having open and constructive relationships with tax authorities (the "Revenue Authorities").

The UK branch of SDL was established in 2022 and provides trading and sales support services to the operations of its affiliates, Susquehanna International Securities Limited and CVI Advisors, LLC, in the UK.

Tax Risk
SDL UK Branch has exposure to UK corporate taxes, VAT and employment related taxes.

Management of Tax Risk
SDL identifies, assesses, and manages tax risks and accounts appropriately. SDL employs risk management measures which include use of dedicated in-house accountants, access to SIG's tax department, and the engagement of external advisers as appropriate to assist in management of tax risk.

Governance
The board of directors of SDL (the "Board") has ultimate responsibility for the management of the affairs of the company including development and ongoing review of strategy and policies. In order to correctly manage SDL's affairs, the Board established a management committee (the "Management Committee") and delegated certain powers to the Management Committee regarding the management and oversight of SDL. The head of tax function in SDL is a member of the Management Committee and is responsible for ensuring that policies and procedures are in place, maintained, and used consistently for supporting the management of tax risk and ensuring compliance with tax law. The head of tax function in SDL is also tasked with ensuring that the tax team has the necessary skills and experience to manage tax risk and ensure tax compliance. SDL is averse to governance risk.

Tax Planning
SDL engages in tax planning in order to support its business, correctly reflect commercial activity, and adhere to relevant tax law. Transactions between group companies are conducted on an arm's-length basis and in accordance with current principles of the Organisation for Economic Co-operation and Development. External advisors are engaged as required to assist with tax planning.

Working with Revenue Authorities
SDL seeks to build and maintain a constructive relationship with Revenue Authorities. Where possible, SDL engages with Revenue Authorities in order to achieve certainty and agreement on the tax treatment of particular events.