Tax Policy

Mando is fully aware that compliance with the tax laws of each country in which the company operates
as well as transparent and thorough tax risk management are basic requirements for a global company
in order to maximize shareholder value, secure customer profits, and contribute to national finances.
Mando recognizes that faithful compliance with the duty to pay taxes is an essential condition
for the company's sustainable management and perpetuity as a global company.

The company has established tax management principles by forming an internal tax management organization
and has been effectively performing corporate wide tax management by building a risk management system.
Also, the company fully understands each country's tax system and relevant tax laws,
faithfully complies with reporting and payment obligations, and responds to tax authorities' requests for tax data.

The Company has established and operates its transfer pricing policies by applying the 'OECD TP Guideline,'
which can be generally accepted in each country's tax jurisdiction, and continuously monitors changes in global tax trends.
The company continuously revises and supplements the transfer pricing policy with the help of external experts
from the relevant field, if necessary, and fully understands the BEPS ('Base Erosion Profit Shifting') system.
Additionally, the company annually discloses its global transfer pricing policies and operation status
in a transparent manner through a relevant report.

The Company does not establish corporations in low-tax countries for the purpose of tax evasion
and does not unfairly transfer income to low-tax countries through transfer pricing transactions.

The Company does not engage in any tax evasion activities by exploiting gaps and mismatches in
the international tax rules, and leaves tax havens out of consideration when entering into overseas markets.

The company is aware that cooperation with tax authorities in each relevant country is an important
and essential part of its tax activities, and hence always builds mutual trust relationships
with the tax authorities in a transparent and reasonable manner.