UK Tax Strategy

UK Tax Strategy of Under Armour, Inc. and Subsidiaries

This UK Tax Strategy statement is published on behalf of Under Armour UK Limited and UA UK Retail Limited and is approved by their respective Boards of Directors. The publication of this statement is regarded as satisfying the statutory obligation under paragraph 16 (2) of Schedule 19 Finance Act 2016. It applies for the financial year ended 31 March 2025.

Tax Policy

Under Armour, Inc. and Subsidiaries’ (“Under Armour” or “Company”) tax policy is to comply with all statutory regulations and full transparency to tax authorities. Under Armour manages the tax affairs of all legal entities, including those doing business in the UK, under Under Armour’s high standards of governance and in accordance with the following principles:

Governance

The ultimate responsibility for the tax strategy sits with the Board of Directors. Day to day responsibility is delegated to the Chief Financial Officer and Vice President of Global Tax to manage tax risk through the Global Tax Department and through operational accounting functions of legal entities doing business in the UK.

Tax Risk Management

Under Armour recognizes there is some level of tax risk in the UK, as in all countries, due to complexity of taxes, including frequent changes in laws, and the subjectively of transfer pricing of goods, services and financing between Under Armour group companies in various jurisdictions.

Under Armour monitors proposed changes in UK tax legislation to identify its potential impact on the Company’s UK business, including seeking external professional opinions, and will realign its tax arrangements when necessary to comply with the tax regulations. In relation to intercompany transactions, Under Armour complies with the OECD guidelines and ensures that the transfer pricing policies respect arm’s length standards.

Tax Planning

It is Under Armour’s policy to comply with all tax rules and regulations in the UK as well as the rest of the world, and to ensure tax planning is aligned with its business activities. Under Armour does not engage in tax planning strategies in which the business objectives do not support the position. Under Armour additionally considers the potential impact on Under Armour’s reputation, brand, corporate and social responsibilities for all tax planning.

UK Tax Authority - HMRC

We engage with HMRC, with honesty, integrity, respect, and fairness in a spirit of co-operative compliance. Should HMRC have any inquires, audits or examinations, Under Armour’s goal will be to establish and maintain a transparent and constructive relationship with HMRC. Under Armour will demonstrate ongoing compliance with tax legislation and if disagreements arise, Under Armour will seek to resolve the issues by mutual agreement with HMRC, where possible.