Company: RENEF
Filing Date: 2025-10-08
Form Type: PRE 14A
Source: 0001104659-25-097940
Chunk: 55

Company: Cartesian Growth Corp II
Filing Date: 2025-10-08
Form: PRE 14A
Chunk 55
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 holding period for such ordinary shares),   
 which may include a redemption of Class A Ordinary Shares if such redemption is treated as a distribution under the rules discussed  
 above.                                                                                                                               |

Under the Default PFIC Regime:

| · | the U.S.                                                                                                                              
 Holder’s gain or excess distribution will be allocated ratably over the U.S. Holder’s holding period for its Class A                  
 Ordinary Shares;                                                                                                                      |
| · | the amount                                                                                                                            
 of gain allocated to the U.S. Holder’s taxable year in which the U.S. Holder recognized the gain or received the excess distribution, 
 or to the period in the U.S. Holder’s holding period before the first day of the first taxable year in which we are a PFIC,           
 will be taxed as ordinary income;                                                                                                     |
| · | the amount                                                                                                                            
 of gain allocated to other taxable years (or portions thereof) of the U.S. Holder and included in such U.S. Holder’s holding          
 period will be taxed at the highest tax rate in effect for that year and applicable to the U.S. Holder; and                           |
| · | an additional                                                                                                                         
 tax equal to the interest charge generally applicable to underpayments of tax will be imposed on the U.S. Holder in respect of the    
 tax attributable to each such other taxable year of such U.S. Holder.                                                                 |

QEF Election

In general, if we are determined
to be a PFIC, a U.S. Holder may avoid the PFIC tax consequences described above in respect of its Class A Ordinary Shares by making a
timely QEF election (if eligible to do so) to include in income its pro rata share of our net capital gains (as long-term capital gain)
and other earnings and profits (as ordinary income), on a current basis, in each case whether or not distributed, in the taxable year
of the U.S. Holder in which or with which our taxable year ends. In general, a QEF election must be made on or before the due date (including
extensions) for filing such U.S. Holder’s tax return for the taxable year for which the election relates.

The QEF election is made
on a shareholder-by-shareholder basis and, once made, can be revoked only with the consent of the IRS. A U.S. Holder generally makes
a QEF election by attaching a completed IRS Form 8621, including the information provided in a PFIC annual information statement, to
a timely filed U.S