DOVER Corp

Jurisdiction Analysis - Where are the 317 subsidiaries incorporated?

317

Total Subsidiaries

Unique Jurisdictions

High-Risk Tax Havens

39.4%

In Low-Tax Jurisdictions

Subsidiaries by Jurisdiction

DelawareLow-Tax

9329.3%

United Kingdom

288.8%

China

237.3%

Germany

154.7%

France

134.1%

Canada

113.5%

NetherlandsLow-Tax

103.2%

Mexico

82.5%

Italy

61.9%

SingaporeLow-Tax

51.6%

LuxembourgLow-Tax

51.6%

Thailand

41.3%

California

41.3%

Virginia

41.3%

Spain

41.3%

SwitzerlandLow-Tax

41.3%

India

41.3%

Brazil

41.3%

Malaysia

41.3%

Sweden

41.3%

Denmark

30.9%

Texas

30.9%

Pennsylvania

20.6%

DubaiTax Haven

20.6%

Florida

20.6%

Minnesota

20.6%

Georgia

20.6%

Australia

20.6%

Romania

20.6%

Philippines

20.6%

Illinois

20.6%

Hong KongTax Haven

20.6%

Victoria

20.6%

Taiwan Province of China

20.6%

Japan

20.6%

Belgium

20.6%

Slovakia

20.6%

Poland

20.6%

New JerseyTax Haven

20.6%

Ohio

20.6%

Czech Republic

10.3%

Turkey

10.3%

South Africa

10.3%

Colombia

10.3%

New South Wales

10.3%

Costa Rica

10.3%

El Salvador

10.3%

Uruguay

10.3%

New Hampshire

10.3%

British Virgin IslandsTax Haven

10.3%

North Carolina

10.3%

Portugal

10.3%

Norway

10.3%

Korea, Republic of

10.3%

Russian Federation

10.3%

Argentina

10.3%

Michigan

10.3%

NevadaLow-Tax

10.3%

Finland

10.3%

Mexico City, District Federal

10.3%

Understanding the Chart

• Bars show number of subsidiaries per jurisdiction
• Red = High-risk tax havens (Cayman Islands, Luxembourg, etc.)
• Yellow = Moderate tax jurisdictions (Singapore, Hong Kong, etc.)
• Blue = Standard jurisdictions

Why This Matters

• Companies choose jurisdictions strategically for tax optimization
• High concentration in tax havens may indicate aggressive tax planning
• Helps investors understand corporate tax strategy
• Data sourced from SEC 10-K Exhibit 21 filings

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DOVER Corp

Jurisdiction Analysis - Where are the 317 subsidiaries incorporated?

317

Total Subsidiaries

Unique Jurisdictions

High-Risk Tax Havens

39.4%

In Low-Tax Jurisdictions

Subsidiaries by Jurisdiction

DelawareLow-Tax

9329.3%

United Kingdom

288.8%

China

237.3%

Germany

154.7%

France

134.1%

Canada

113.5%

NetherlandsLow-Tax

103.2%

Mexico

82.5%

Italy

61.9%

SingaporeLow-Tax

51.6%

LuxembourgLow-Tax

51.6%

Thailand

41.3%

California

41.3%

Virginia

41.3%

Spain

41.3%

SwitzerlandLow-Tax

41.3%

India

41.3%

Brazil

41.3%

Malaysia

41.3%

Sweden

41.3%

Denmark

30.9%

Texas

30.9%

Pennsylvania

20.6%

DubaiTax Haven

20.6%

Florida

20.6%

Minnesota

20.6%

Georgia

20.6%

Australia

20.6%

Romania

20.6%

Philippines

20.6%

Illinois

20.6%

Hong KongTax Haven

20.6%

Victoria

20.6%

Taiwan Province of China

20.6%

Japan

20.6%

Belgium

20.6%

Slovakia

20.6%

Poland

20.6%

New JerseyTax Haven

20.6%

Ohio

20.6%

Czech Republic

10.3%

Turkey

10.3%

South Africa

10.3%

Colombia

10.3%

New South Wales

10.3%

Costa Rica

10.3%

El Salvador

10.3%

Uruguay

10.3%

New Hampshire

10.3%

British Virgin IslandsTax Haven

10.3%

North Carolina

10.3%

Portugal

10.3%

Norway

10.3%

Korea, Republic of

10.3%

Russian Federation

10.3%

Argentina

10.3%

Michigan

10.3%

NevadaLow-Tax

10.3%

Finland

10.3%

Mexico City, District Federal

10.3%

Understanding the Chart

• Bars show number of subsidiaries per jurisdiction
• Red = High-risk tax havens (Cayman Islands, Luxembourg, etc.)
• Yellow = Moderate tax jurisdictions (Singapore, Hong Kong, etc.)
• Blue = Standard jurisdictions

Why This Matters

• Companies choose jurisdictions strategically for tax optimization
• High concentration in tax havens may indicate aggressive tax planning
• Helps investors understand corporate tax strategy
• Data sourced from SEC 10-K Exhibit 21 filings