Company: MASK
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001185185-25-000685
Chunk: 233

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-06-24
Form: F-1
Chunk 233
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 receive and any gain you realize from a sale or other disposition (including under
certain circumstances, a pledge) of the Class A Ordinary Shares, unless you make a “mark-to-market” election as
discussed below. Distributions you receive in a taxable year that are greater than 125% of the average annual distributions you
received during the shorter of the three preceding taxable years or your holding period for the Class A Ordinary Shares will be
treated as an excess distribution. Under the PFIC rules:

| ● | the excess distribution or gain will be allocated ratably over your holding period for the Class A Ordinary Shares; |

| ● | the amount allocated to your current taxable year, and any amount allocated to any of your taxable year(s) in your holding period 
 prior to the first taxable year in which we were a PFIC, will be treated as ordinary income;                                      |

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| ● | the amount allocated to each of your other taxable years (or portions thereof) will be subject to the highest tax rate in effect for that year and 
 the interest charge generally applicable to underpayments of tax will be imposed on the resulting tax attributable to each such year;              
 and                                                                                                                                                |

| ● | an additional tax equal to the interest charge generally applicable to underpayments of tax will be imposed on the tax attributable 
 to each prior taxable year, other than a pre-PFIC year.                                                                             |

The tax liability for amounts allocated to years
prior to the year of disposition or “excess distribution” cannot be offset by any net operating losses for such years,
and gains (but not losses) realized on the sale of the Class A Ordinary Shares cannot be treated as capital, even if you hold the Class
A Ordinary Shares as capital assets.

A U.S. Holder may avoid the adverse PFIC tax
consequences discussed above if such U.S. Holder, at the close of the first taxable year in which it holds (or is deemed to hold)
Class A Ordinary Shares and for which the Company is determined to be a PFIC, makes a mark-to-market election with respect to such
shares for such taxable year. A U.S. Holder of “marketable stock” (as defined below) in a PFIC may make a
mark-to-market election under Section 1296 of the Revenue Code for such stock to elect out of the tax
treatment discussed above. If you make a mark-to-market election for first taxable year which you hold (or are