Company: FLYE
Filing Date: 2025-04-22
Form Type: S-1
Source: 0001213900-25-034233
Chunk: 50

Company: Fly-E Group, Inc.
Filing Date: 2025-04-22
Form: S-1
Chunk 50
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 Warrant holders’ proportionate
interest in our assets or earnings and profits (e.g., through an increase in the number of shares of our Common Stock that would be obtained
upon exercise or through a decrease to the exercise price) as a result of a taxable distribution of cash or other property to the holders
of shares of our Common Stock. Any such constructive distribution would generally be taxed as described under “Non-U.S. Holders
— Taxation of Distributions” above, in the same manner as if the Non-U.S. Holders of the Warrants received a cash distribution
from us equal to the fair market value of such increased interest resulting from the adjustment.

Information Reporting and Backup Withholding

Dividend payments (including
constructive dividends) with respect to our Common Shares and proceeds from the sale, exchange or redemption of Common Shares or Warrants
may be subject to information reporting to the IRS and possible United States backup withholding. Backup withholding will not apply,
however, to payments made to a U.S. Holder who furnishes a correct taxpayer identification number and makes other required certifications,
or who is otherwise exempt from backup withholding and establishes such exempt status. Payments made to a Non-U.S. Holder generally will
not be subject to backup withholding if the Non-U.S. Holder provides certification of its foreign status, under penalties of perjury,
on a duly executed applicable IRS Form W-8 or by otherwise establishing an exemption.

Backup withholding is not an
additional tax. Amounts withheld under the backup withholding rules may be credited against a holder’s U.S. federal income tax liability,
and a holder generally may obtain a refund of any excess amounts withheld by timely filing the appropriate claim for refund with the IRS
and furnishing any required information. All holders should consult their tax advisors regarding the application of information reporting
and backup withholding to them.

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FATCA Withholding Taxes

Sections 1471 through
1474 of the Code and the Treasury Regulations and administrative guidance promulgated thereunder (commonly referred to as the “Foreign
Account Tax Compliance Act” or “FATCA”) generally impose withholding of 30% in certain circumstances on payments of
dividends (including constructive dividends) and, subject to the proposed Treasury Regulations discussed below, on proceeds from sales
or other disposition of our securities paid to “foreign financial institutions” (which is broadly defined for this purpose
and includes investment vehicles) and certain other non-U.S. entities unless various U