Tax Transparency

Sea Oil Public Company Limited and its subsidiaries ("the Company") recognize the importance of prudent tax management and compliance with applicable tax laws and regulations. The Group is committed to ensuring consistency in tax planning and tax-related operations across the organization, based on the principles of accuracy, transparency, and accountability, while considering the interests and fairness of all stakeholder groups in alignment with its sustainable business practices. Accordingly, the Group has established the following Tax Policy:

1. To manage tax affairs, tax planning, tax payments, and the utilization of tax incentives in compliance with applicable laws, regulations, and tax requirements, with the objective of maximizing value for the Group and its stakeholders.
2. To ensure timely filing and payment of taxes in accordance with statutory deadlines, and to effectively manage tax payments and tax refund claims in order to optimize the Group's liquidity and operational efficiency.
3. To manage tax risks by assessing tax implications and available tax incentives for new transactions or investment projects, ensuring alignment with business strategies, legal compliance, and the interests of stakeholders.
4. To establish transfer pricing for transactions among group companies and related parties in accordance with the Arm's Length Principle, ensuring appropriateness and compliance with applicable tax regulations.
5. To promote knowledge and awareness regarding accounting standards, information systems, and tax laws in order to minimize risks that may result in financial or reputational damage to the Company. Tax personnel shall receive continuous training and development on relevant tax laws and regulations.
6. To engage qualified tax advisors with appropriate expertise in reviewing complex transactions, with the objective of mitigating tax risks and potential tax impacts, while ensuring proper and compliant tax practices.

1. To assign qualified tax personnel with the necessary knowledge, skills, and communication capabilities to coordinate with government tax authorities, maintain appropriate and transparent communication with government tax authorities and ensure compliance with applicable laws and regulatory requirements.
2. The Company is committed to providing accurate and factual tax information reflecting its business operations when subject to tax audits or reviews by government authorities. In the event of a tax dispute that may have a material impact on the amount of tax payable, the relevant tax implications shall be assessed and reported to the Chief Executive Officer for consideration of the most appropriate course of action.