Company: CSLMF
Filing Date: 2025-07-03
Form Type: DEFM14A
Source: 0001193125-25-155514
Chunk: 223

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-07-03
Form: DEFM14A
Chunk 223
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 culture, operational 
 infrastructure and management.                                                                          |

| • |     | Fusemachines’ sales efforts involve considerable time and expense. |

| • |     | A limited number of customers account for a substantial portion of Fusemachines’ revenue. |

| • |     | Seasonality may cause fluctuations in Fusemachines’ results of operations and financial position. |

| • |     | The success of Fusemachines depends on its ability to successfully develop and deploy new technologies. |

| • |     | Using artificial intelligence presents unique technological, social and ethical issues. |

| • |     | Fusemachines has not been profitable in the past and may not achieve or maintain profitability in the future. |

| • |     | Fusemachines requires substantial additional funding. |

| • |     | Fusemachines faces intense competition. |

The projections included both current and future revenue streams. There is inherent risk in any forward-looking projections and the CSLM Board considered the risks of results of ongoing contracts and those of future revenue generating contracts. The projections also included cost forecasts which are susceptible to unknown increases or decreases in future years. The projections were constructed and viewed under currently and anticipated regulatory frameworks. If these frameworks change or new frameworks are instituted actual results may vary from projected results. The projections were constructed and viewed under current market conditions. If these conditions change actual results may vary from the projected results. The financial projections were constructed and viewed given underlying assumptions of capital resources available to Fusemachines. If these capital resources are not available or become more costly, the actual results may vary from the projected results. The CSLM Board also considered a variety of uncertainties and risk and other potentially negative factors concerning the Business Combination including, but not limited to, the following:

| • |     | Development Stage Company. Fusemachines’ status as a growth stage company, and the risk that it 
 may not be able to execute on its business plan;                                                |

| • |     | Macro-economic Risks. Macro-economic uncertainty and the effects it could have on Pubco’s 
 revenues;                                                                                 |

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| • |     | Redemption Risk. The potential that a significant number of CSLM’s stockholders elect to redeem                                                                                                                                              
 their shares prior to the consummation of the Business Combination and pursuant to CSLM’s existing charter, which would potentially make the Business Combination more difficult or impossible to complete, and/or reduce the amount of cash 
 available to Pubco following the Closing;                                                                                                                                                                                                    |

| • |     | Stockholder Vote. The