Ardagh Glass Finance plc - Irish Stock Exchange

4. They do not carry a right to a sum in respect of repayment or interest which is related to
certain movements in an index or indices specified in any instrument or other document
relating to such loan capital.
EU Savings Directive on the Taxation of Savings Income
Under Council Directive 2003/48/EC on the taxation of savings income in the form of interest
payments Member States are required to provide to the tax authorities of another Member State
details of payments of interest and other similar income paid by a person within its jurisdiction to or
for an individual in that other Member State. ‘‘Similar income’’ for this purpose includes payments on
redemption of Senior Notes representing any discount on the issue of the Senior Notes or any
premium payable on redemption. However, for a transitional period, Austria and Luxembourg will
instead (unless during such period they elect otherwise) apply a withholding tax system in relation to
such payments. The transitional period will end after agreement on exchange of information is reached
between the European Union and certain non-European states. No withholding will be required where
the holder of the Senior Notes authorizes the person making the payment to report the payment or
presents a certificate from the relevant authority establishing exemption from withholding.
The European Commission has published proposals for amendments to the Directive, which, if
implemented, may amend or broaden the scope of the requirements above.
Under Irish tax legislation, this directive has been implemented to require information relating to
the identity and tax residence of new customers must be collected where such customers are individuals
or ‘‘residual entities’’. ‘‘Residual entity’’ includes certain persons or undertakings to which an interest
payment is made or for which an interest payment is secured for the benefit of an individual. The type
of information to be reported includes details of the beneficial owner of the interest and the amount of
interest paid in each period.
Under Irish domestic legislation it is also necessary to disclose details of the recipient of interest
payments during the period in the payor’s tax return. These details include name, address, tax reference
number and country of tax residence of the recipient of the interest together with the amount of
interest paid in the period to that recipient.
Reports under these procedures must include:
• the paying agent’s own name, address (registered office if a company) and tax reference number;
• details of the interest payments made to or secured for the immediate benefit of beneficial
owners or residual entities resident in another EU territory; and
• details regarding the beneficial owners of the interest.
United Kingdom Taxation
The following is a general description of certain U.K. tax consequences relating to the Senior
Notes and is based on current U.K. tax law and HM Revenue & Customs (‘‘HMRC’’) published
practice, both of which may be subject to change, possibly with retrospective effect. It does not purport
to be a complete analysis of all U.K. tax considerations relating to the Senior Notes, relates only to
persons who are the absolute beneficial owners of Senior Notes and who hold Notes as a capital
investment, and does not deal with certain classes of persons (such as brokers or dealers in securities
and persons connected with the Issuer) to whom special rules may apply.
If you are subject to tax in any jurisdiction other than the United Kingdom or if you are in any
doubt as to your tax position, you should consult an appropriate professional adviser.
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