JX Advanced Metals Group Tax Policy

We, JX Advanced Metals Group, have established the Tax Policy as follows and strictly implement this Policy, aiming at boosting our corporate value through tax optimization and tax transparency, on the premise of ensuring tax compliance and proper tax payments in all countries and regions where we deploy business activities.

The JX Advanced Metals Group builds a global tax governance framework by appointing the Chief Tax Supervisor in the headquarters of JX Advanced Metals Corporation (“JX Advanced Metals”), developing and operating the reporting line between JX Advanced Metals and the department responsible for tax operation in each domestic or foreign group company.

In the conduct of business activities, the JX Advanced Metals Group abides by tax laws and regulations, as well as relevant international tax rules (including the OECD Transfer Pricing Guidelines and the BEPS Action Plan), and aims at appropriate and fair tax operations on a global basis. For this purpose, the JX Advanced Metals Group endeavors to improve tax awareness and compliance within the Group.

The JX Advanced Metals Group endeavors to properly understand tax risks in the conduct of global business activities. If a material tax risk is identified, the JX Advanced Metals Group will promote efforts to mitigate tax risks and prevent their actualization by such means as seeking advice from independent tax experts and obtaining advance rulings from tax authorities.

The JX Advanced Metals Group endeavors to optimize tax burdens through utilizing tax incentives available in each jurisdiction and avoiding international double taxation based on applicable tax treaties, while closely examining and considering the legislative intent of tax laws and regulations, with advice and support from independent tax experts where necessary. Furthermore, the JX Advanced Metals Group undertakes to refrain from tax planning unrelated to business activities and tax avoidance through use of tax havens.

The JX Advanced Metals Group ensures timely and proper tax filing and payment in compliance with each jurisdiction’s tax laws and regulations, sincerely responds to tax authorities’ requests for disclosure of information, and regularly engages in dialog or exchanges opinions with tax authorities with a view to creating trust relationships with tax authorities.

In all countries and regions where the JX Advanced Metals Group deploys business activities, the JX Advanced Metals Group reports and discloses tax information timely and properly as required under relevant laws and regulations and ensures tax transparency.