COMPANY INFORMATION DISCLOSURE. This document is available from the company website at:

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1 COMPANY INFORMATION DISCLOSURE Last updated 24 May 2017 This document is available from the company website at: BUSINESS DESCRIPTION Tax Systems plc s portfolio of products automates and simplifies the complexity of corporation tax compliance supported by excellent customer service and provision of an all-inclusive service. The lead product is Alphatax, which deals with virtually all of a company s corporation tax needs and covers practically every aspect of corporation tax. Tax Systems plc is seeking to become a leading supplier in corporation tax and associated software. This will be delivered through a portfolio of products which automate and simplify the complexity of corporation tax compliance and by delivering exemplary levels of customer service and support through provision of an all-inclusive service, where the customer can expect regular product enhancements complemented by a wide range of professional services. Our strategic objective now is to build on the core platform and grow the team in order to accelerate the organic growth of the business whilst seeking opportunities to acquire companies with complementary products and services. GOVERNANCE Directors Names and Biographies Clive Carver, Independent Non-Executive Chairman Clive recently became Non-Executive Chairman, having previously been a Non-Executive Director of the Company. Clive is a Fellow of the Institute of Chartered Accountants in England & Wales, having specialised in corporate tax while qualifying at Coopers & Lybrand. He spent 17 years in the corporate broking arena becoming, successively, head of corporate finance at Seymour Pierce, Williams de Broë and finncap. Since 2006, Clive has been chairman of Caspian Sunrise PLC, becoming executive chairman in June Clive is also non-executive chairman of Ascent Resources plc and 365 Agile Group plc and a nonexecutive director of several other public and private companies. He is also a Fellow of the Association of Corporate Treasurers. Gavin Lyons, Chief Executive Officer Gavin became CEO of Tax Systems in April 2017, having been Executive Chairman since the Company s re-admission to AIM in July Gavin has had a distinguished career in the TMT sector completing close to 20 corporate transactions (including three major exits) totalling more than 200m. Gavin was until recently an operating partner at MXC Capital Limited. Prior to MXC Capital Limited Gavin was CEO of Accumuli plc, a successful buy and build in the IT security sector sold to NCC Group plc for

2 55m. Prior to Accumuli plc, Gavin was Head of Telecoms & Utilities UK&I at SAP, the global market and technology leader in business management software. Prior to SAP, Gavin had considerable executive-level experience derived from his role as Vice President of Sales and Alliances with Identum and three subsequent director positions with Trend Micro. Identum was a venture capitalist backed encryption business that was successfully sold to IT security giant Trend Micro in 2008 for a multimillion dollar sum. Gavin has also worked at Xerox, Compuware and The Caudwell Group and is currently Executive Chairman of Adept4 plc. Kevin Goggin, Chief Financial Officer Kevin joined the group as Chief Financial Officer on 3 April Kevin is a chartered accountant by profession with significant international experience in finance and operations, having previously held CFO and MD positions. Kevin has worked in both listed and private companies, most recently in software and technology and, prior to this, in media storage and logistics. Kevin has completed a number of corporate transactions, including two business sales to private equity. Before joining Tax Systems, Kevin has worked with Monitise plc and was CFO at Bonded Services Group. Linda Beal, Independent Non-Executive Director Linda is a chartered accountant and has worked in major accounting firms for 33 years. During this time, she spent 27 years specialising in tax structuring and tax compliance for UK and international groups. Linda was, until 30th June 2016, a tax partner at Grant Thornton. Prior to Grant Thornton, Linda was at PwC and one of its legacy firms from 1982 until 2013, becoming a tax partner in Linda advised large and medium sized groups operating in the UK and internationally, supporting boards and in house tax teams on tax compliance using Alphatax and other tax compliance software. Paul Gibson, Non-Executive Director Paul Gibson is a partner in MXC Capital Limited and has had a highly successful career in the TMT sector, most recently as Chief Operating Officer of Advanced Computer Software plc ( ACS ) prior to its acquisition by Vista Equity Partners for 725m. In his five years at ACS Paul oversaw a period of exceptional value creation and transformation, with responsibility for driving both organic and acquisitive growth. Prior to ACS, Paul held a number of senior roles in both financial and operational capacities, latterly as Finance Director of Redac Limited, the Alchemy backed turnaround that was subsequently sold to ACS for 100m. The foundations of Paul s career were built at Unigate, GrandMet (now Diageo) and Oracle.

3 Board of Directors Responsibilities The board directs the group's activities in an effective manner through regular monthly board meetings and monitors performance through timely and relevant reporting procedures which enables risk to be assessed and managed. Where it deems it necessary, the board requests reports on specific areas outside of the normal reporting regime. All directors have access to advice from the company secretary and, if required, independent professionals at the company s expense. Training is available for new and other directors as necessary. The non-executive directors are regarded as independent of management and any business or other relationships which could interfere with the exercise of their independent judgement. The board has established two committees, the audit committee and the remuneration committee. It will also set up a nominations committee if the need arises. Membership of both the audit committee and the remuneration committee is made up of the non-executive directors. Clive Carver is chairman of the remuneration committee and Linda Beal of the audit committee. Under the company s articles of association, the nearest number to one third of the board shall retire each year by rotation. Committees Responsibilities and Corporate Governance The board is committed to ensuring that proper standards of corporate governance operate. As an AIM listed company Tax Systems plc is not required to comply with the principles and provisions of the UK Corporate Governance Code published by the Financial Reporting Council in September 2012, however the Board of the Company is committed to the principles of good corporate governance and follows, so far as is practicable and appropriate in view of the Group s size, stage of development and the nature of the Company the provisions of the UK Corporate Governance Code and complies with the provisions of the QCA Guidelines. UK City Code of Takeover and Mergers Tax Systems plc is subject to the UK City Code on Takeover and Mergers.

4 SHARE INFORMATION Other exchanges or trading platforms where tax systems plc securities are admitted or traded: Tax Systems plc is traded on the AIM market of the London Stock Exchange under the symbol TAX.L. The company has neither applied nor agreed to have any of its securities admitted to any other exchanges or trading platforms. The number of securities in issue: As at 24 May 2017 the number of shares in issue was 80,703,381 ordinary shares of 0.01 each. The number of securities held as treasury shares: As at 24 May 2017 the number of securities held in treasury shares was 0. Percentage of AIM securities not in public hands: As at 24 May 2017, the percentage of AIM securities not in public hands was 44,788,724 ordinary shares of 0.01 each: representing 55.5% of the issued share capital.

5 Identity and percentage holdings of Directors & significant shareholders: As of 24 May 2017, the identity and percentage holdings of significant shareholders* notified to the company was as follows: Name Number of Ordinary Shares % of Issued Share Capital Lombard Odier 15,299, MXC Capital Limited 15,200, Coltrane Asset Management 10,149, Schroder Investment Management 6,729, Nigel Wray 3,354, Premier Fund Managers 5,228, River & Mercantile Asset Management 4,600, Harwood Capital LLP 3,000, Gavin Lyons 149, ,710, * Significant shareholders are those deemed to be those holding 3% or more of the share capital. Details of any restrictions on the transfer of AIM Securities: There are no restrictions on the transfer of Tax Systems plc securities.

6 CONTACTS & ADVISORS Country of Incorporation: Directors: Registered Office: Company Secretary Tax Systems plc is incorporated in England and Wales. Tax Systems plc Magna House London Road Staines-upon-Thames TW18 4BP Main Country of Operation: Its main country of operation is the United Kingdom. Gavin Lyons, Chief Executive Officer Kevin Goggin, Chief Financial Officer Clive Carver, Independent Non-Executive Chairman Linda Beal, Independent Non-Executive Director Paul Gibson, Non-Executive Director Registration Number: Adrian Harvey Nominated Advisor & Broker: Financial Adviser: Solicitors: Other Key Advisors: Bankers: finncap Limited 60 New Broad Street London EC2M 1JJ MXC Capital Markets LLP 25 Victoria Street London SW1H 0EX K&L Gates LLP One New Change London EC4M 9AF HSBC Bank plc, 8 Canada Square, London, E14 5HQ Auditors & Reporting Accountants: Crowe Clark Whitehill LLP, St Bride s House 10 Salisbury Square, London, EC4Y 8EH Registrars: Investor Relations: Computershare Investor Services plc. The Pavilions Bridgwater Road. Bristol BS13 8AE Gavin Lyons, Chief Executive Officer