Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 287

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 287
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 the IRS has been requested, or will be obtained, regarding the U.S. federal income
tax considerations applicable to U.S. holders as discussed in this summary. This summary is not binding on the IRS, and the IRS is not
precluded from taking a position that is different from, and contrary to, the positions taken in this summary. In addition, because the
authorities on which this summary is based are subject to various interpretations, the IRS and the U.S. courts could disagree with one
or more of the positions taken in this summary. All holders should consult their own tax advisors as to the specific tax consequences
to them of the ownership and disposition of our common shares, Pre-Funded Warrants and/or Series A Warrants including with respect to
reporting requirements and the applicability and effect of any U.S. federal, state, local, non-U.S. or other tax laws in light of their
particular circumstances.

U.S. Federal Income Taxation of U.S. Holders of the Acquisition of a Unit

No statutory, administrative,
or judicial authority directly addresses the treatment of a Unit or any instrument similar to a Unit for U.S. federal income tax purposes
and, therefore, such treatment is not clear. For purposes of this discussion, because any Unit consisting of one common share or one Pre-Funded
Warrant, as applicable, and one Series A Warrant immediately separates upon issuance, the Company is treating any one common share or
one Pre-Funded Warrant, as applicable, and one Series A Warrant held by a U.S. holder in the form of a Unit as separate instruments and
is assuming that the Unit itself will not be treated as an integrated instrument. Accordingly, the separation of a Unit should not be
a taxable event for U.S. federal income tax purposes. For U.S. federal income tax purposes, each U.S. holder of a Unit must allocate the
purchase price paid by such holder for such Unit between the one common share or one Pre-Funded Warrant, as applicable, and one Series
A Warrant based on the relative fair market value of each at the time of issuance. Under U.S. federal income tax law, each U.S. holder
must make its own determination of such value based on all the relevant facts and circumstances. Therefore, each U.S. holder is strongly
urged to consult its own tax advisor regarding the determination of value for these purposes. The price allocated to the one common share
or one Pre