Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063899
Chunk: 373

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 373
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 existing provisions of the Internal Revenue Code of 1986, as amended, or the “Code,” Treasury regulations
promulgated thereunder, published revenue rulings and procedures of the U.S. Internal Revenue Service, or the “IRS,” and
judicial decisions, all as currently in effect. These authorities are subject to change or differing interpretations, possibly on a
retroactive basis.

This discussion does not address
all aspects of U.S. federal income taxation that may be relevant to any particular holder based on such holder’s individual circumstances.
In particular, this discussion considers only holders that own Company shares, or who will own and hold Company shares as a result of
owning the corresponding DiamiR shares, as capital assets within the meaning of Section 1221 of the Code. This discussion does not address
the alternative minimum tax or the U.S. federal income tax consequences to holders that are subject to special rules, including:

| ● | financial institutions or financial services entities; |

| ● | broker-dealers; |

| ● | persons that are subject to the mark-to-market accounting 
 rules under Section 475 of the Code;                      |

| ● | tax-exempt entities; |

| ● | governments or agencies or instrumentalities thereof; |

| ● | insurance companies; |

| ● | regulated investment companies; |

| ● | real estate investment trusts; |

| ● | certain expatriates or former long-term residents of the United 
 States;                                                         |

| ● | Non-U.S. Holders (except as specifically provided below); |

| ● | persons that actually or constructively own five percent (5%)                           
 or more of Company shares or voting securities (except as specifically provided below); |

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| ● | persons that acquired Company shares pursuant to an exercise                                   
 of employee options, in connection with employee incentive plans or otherwise as compensation; |

| ● | persons that hold Company shares as part of a straddle, constructive 
 sale, hedging, redemption or other integrated transaction;           |

| ● | persons whose functional currency is not the U.S. dollar; |

| ● | controlled foreign corporations; or |

| ● | passive foreign investment companies. |

This brief discussion
does not address any aspect of U.S. federal non-income tax laws, such as gift or estate tax laws, state, local or non-U.S. tax laws
or, except as discussed herein, any tax reporting obligations of a holder of DiamiR shares. Additionally, this