Company: KOYNU
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001829126-25-003675
Chunk: 339

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-05-15
Form: DRS
Chunk 339
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 the lower-tier PFIC. There can be no assurance that we will have timely knowledge of the status of any
such lower-tier PFIC. In addition, we may not hold a controlling interest in any such lower-tier PFIC and thus there can be no assurance we will be able to cause the lower-tier PFIC to provide such required information. A mark-to-market election generally would not be available with respect to such lower-tier PFIC. U.S. Holders are urged to consult their tax advisors regarding the tax issues raised by
lower-tier PFICs.

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A U.S. Holder that owns (or is deemed to own) shares in a PFIC during any taxable year of
the U.S. Holder, may have to file an IRS Form 8621 (whether or not a QEF or mark-to-market election is made) and such other information as may be required by the U.S. Treasury Department. Failure to do so, if required, will extend the statute of limitations
until such required information is furnished to the IRS.

The rules dealing
with PFICs and with the QEF, purging, and mark-to-market elections are very complex and are affected by various factors in addition to
those described above. Accordingly, U.S. Holders of our Class A ordinary shares, warrants and rights should consult their own tax advisors
concerning the application of the PFIC rules to our Class A ordinary shares, warrants and rights under their particular circumstances.

Non-U.S. Holders

This section applies to you if you are a “Non-U.S. Holder.” As used herein, the term “Non-U.S. Holder” means a beneficial owner of our units, Class A ordinary shares or warrants (other than a partnership or other entity or arrangement
treated as a partnership for U.S. federal income tax purposes) that is for United States federal income tax purposes:

| ● | a non-resident alien individual (other than certain former citizens and residents of the United States subject to U.S. tax as expatriates); |

| ● | a foreign corporation; or |

| ● | an estate or trust that is not a U.S. Holder; |

but generally does not include an individual who is present in the United States for 183 days or more in the taxable year of the disposition of our units, Class A ordinary shares or warrants. If you are such an individual, you should consult your
tax advisor regarding the United States federal income tax consequences