Mueller Europe Approach to Tax

Mueller Europe, Ltd. (“MEL” or “the company”) is a leading manufacturer of copper tube and related products based in Bilston. MEL is committed to compliance with legal and regulatory requirements in all areas of our business for the benefit of our customers, our employees, the environment, and all other stakeholders of our company.

This commitment includes our responsibilities with respect to the tax compliance and payment obligations related to our operations, which include corporate income taxes, employment taxes, value-added taxes, and other various taxes in the UK. The taxes paid by MEL complement the company’s significant investments in capital and employment opportunities to provide significant contributions to the UK economy. Our commitment to tax compliance is directed by the following principles, which are provided pursuant to paragraph 22(2), Schedule 19 of the Finance Act 2016. This information is also being provided for our sister company, Mueller Europe Investment Co., Ltd., which is a UK holding company.

Approach to Risk Management and Governance Arrangements

Managing tax risk is predicated on identifying those transactions and issues that create tax risk and then ensuring that these are properly reported. Responsibility for the tax function lies with the Tax Department of our ultimate parent, Mueller Industries, Inc., which is based in the United States. MEL is committed to minimizing tax risk to the company through collaborative efforts and open communication between members of the Tax Department, our business and financial leaders in the UK, and when necessary, consultation with outside tax and legal advisors.

These parties work together to ensure that any areas of risk with respect to the company’s tax obligations are timely identified so that issues and transactions may be analysed in light of relevant tax law and regulatory requirements. We then work to verify that the results are reported appropriately to company stakeholders, including both shareholders and governmental authorities.

Tax Planning

The company does not view its efforts to comply with all legal requirements with respect to its tax affairs to be at odds with its goal of returning value to its shareholders. The global initiatives to ensure that the tax liabilities of multinational organizations are reported in correlation to where profits are earned are consistent with the company’s approach to tax planning. We engage in tax planning efforts in various jurisdictions to provide the greatest opportunities for tax-efficient capital allocation and investment while ensuring that any such planning has legitimate economic substance and is consistent with the legal and regulatory requirements, including OECD guidance, which is consistent with the company’s risk tolerance with respect to taxation.

Relationships with Taxing Authorities

The company is committed to transparency and openness in its reporting to taxing authorities as well as in its relationships with those authorities when they review our filings.