Company: CSLMF
Filing Date: 2025-07-03
Form Type: DEFM14A
Source: 0001193125-25-155514
Chunk: 398

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-07-03
Form: DEFM14A
Chunk 398
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 directors’ and officers’ liability insurance, director fees, and additional internal and external accounting, legal, and administrative resources, including increased personnel costs, audit, and other professional service fees. Key Factors and Trends Affecting Results of Operations We believe the following factors and trends may cause previously reported financial information not to be necessarily indicative of future operating results or future financial conditions:

| • |     | Market Competition: The AI industry is highly competitive and is changing rapidly with numerous players                                                                                                                                                   
 vying for market share. We attempt to mitigate this risk by continuously innovating and differentiating our offerings, as we have been delivering AI solutions for well over a decade and have deep institutional capabilities to stand apart in terms of 
 our ability to provide value to our customers and scale. Nevertheless, increasing competition could result in loss of business or pressure on margins for Fusemachines.                                                                                   |

| • |     | Technological Changes: Rapid technological advancements in AI can impact our offering, dilute our value                                                                                                                                                  
 proposition and require us to pivot in different directions. However, given our broad spectrum of AI solutions, coupled with our ability to produce AI talent, our deep investment in research and development, and a culture of continuous learning, we 
 have been able to navigate these changes effectively.                                                                                                                                                                                                    |

| • |     | Adequate Capital Raise: We have limited financial resources. There can be no assurance that sufficient 
 funding will be available to us to fund our operating expenses and to further develop our              |

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| • |     | Ability to manage costs and expenses while achieving revenue growth: Our results of operations may                                                                                                                                                       
 fluctuate, in part, because of the intensive nature of our sales efforts and the length and unpredictability of our sales cycle. As part of our sales efforts, we invest considerable time and expense evaluating the specific organizational needs of   
 our potential customers and educating these potential customers about the technical capabilities and value of our platforms and services. As part of our sales efforts, we also provide our platforms to potential customers at no or low cost initially 
 to them for evaluation purposes through short-term pilot deployments of our platforms, and there is no guarantee that we will be able to convert customers from these short-term pilot deployments to full revenue generating contracts.                 |

| • |     | Finance costs: We have entered into several convertible debt that gets automatically converted into                                                                                                                                                      
 shares of the Company’s Convertible Preferred Stock upon the closing of the Next Equity Financing as defined in “Note 9. Long-Term Debt” in the Condensed consolidated