Company: CSLMF
Filing Date: 2025-07-03
Form Type: DEFM14A
Source: 0001193125-25-155514
Chunk: 214

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-07-03
Form: DEFM14A
Chunk 214
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 November 2022, CSLM and CEMAC discussed the suitability of three potential targets. On December 5, 2022, CSLM was introduced to Fusemachines and through CWEM. CWEM is not as an employee or agent of the Sponsor nor an affiliate of the Sponsor. Further, CWEM has no authority to act for, represent or bind the Sponsor or any affiliate thereof in any manner. In consideration for the introduction of Fusemachines, the Sponsor agreed to transfer to them 125,000 Founder Shares at the closing of the Business Combination. CSLM began its initial review of the financial information and business plans to assess valuation. As with each potential target that had been reviewed previously, there were drawbacks and risks to investigate. With Fusemachines. These included:

| • |     | Early Stage Company – While Fusemachines has operated since 2014, it remains a company with a nascent, 
 albeit growing, revenue stream                                                                         |

| • |     | Strategic Focus – Fusemachines is shifting focus from providing AI services to clients, to licensing AI 
 products to clients.                                                                                    |

| • |     | Unproven record of executing a capital investment strategy to support growth – Fusemachines has been           
 judicious in raising capital and has not had the experience of deploying significant capital to grow revenues. |

In addition to the drawbacks, there were many points of Fusemachines that make it an attractive target. These include:

| • |     | High Quality Founder– Fusemachines’ Founder is highly experienced and has been on the leading edge 
 of artificial intelligence breakthroughs throughout his career.                                    |

| • |     | Enterprise-level Customer Base – Fusemachines has been able to penetrate high-quality, enterprise clients 
 in the United States                                                                                      |

| • |     | Sustainable Growth Model – A high growth revenue strategy requires the ability to deliver high quality                                                                                                                                               
 products and services, and the capacity constraint for SAAS companies is on-boarding strong computer engineering talent. Fusemachines’ Founder has solved for it with a proprietary artificial intelligence training program offering fellowships to 
 Nepalese and other underrepresented students in emerging market countries to internally source engineering talent.                                                                                                                                   |

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| • |     | High Quality Products – Fusemachines has developed unique AI models to solve for customer specific 
 problems that can be rolled out to a broader client base.                                          |

Compared to Fusemachines, CSLM and its advisors did not consider the other alternative business combination targets to be