Company: CGCT
Filing Date: 2025-04-14
Form Type: S-1/A
Source: 0001104659-25-034635
Chunk: 303

Company: Cartesian Growth Corp III
Filing Date: 2025-04-14
Form: S-1/A
Chunk 303
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:

<div align='center'>“The Tax Concessions Law
Undertaking as to Tax Concessions</div>

In accordance with the Tax Concessions Law, the
following undertaking is hereby given to the Company:

| (a) | That no Law which is hereafter enacted                                                        
 in the Islands imposing any tax to be levied on profits, income, gains or appreciations shall 
 apply to the Company or its operations; and                                                   |

| (b) | In addition, that no tax to be levied                                                              
 on profits, income, gains or appreciations or which is in the nature of estate duty or inheritance 
 tax shall be payable:                                                                              |

| (i) | on or in respect of the shares, debentures 
 or other obligations of the Company; or    |

| (ii) | by way of the withholding in whole                                        
 or in part of any relevant payment as defined in the Tax Concessions Law. |

These concessions shall be for a period of 30 years
from the 1st day of November 2024.”

United States Federal Income Tax Considerations

General

The following discussion summarizes certain United States
federal income tax considerations generally applicable to the acquisition, ownership and disposition of our units (each consisting of
one Class A ordinary share and one-half of one redeemable warrant) that are purchased in this offering by U.S. Holders (as
defined below) and Non-U.S. Holders (as defined below). Because the components of a unit are generally separable at the option of
the holder, the holder of a unit generally should be treated, for United States federal income tax purposes, as the owner of the
underlying Class A ordinary share and warrant components of the unit. As a result, the discussion below with respect to actual holders
of Class A ordinary shares and warrants also should apply to holders of units (as the deemed owners of the underlying Class A
ordinary shares and warrants that constitute the units).

<div align='center'>156</div>

This discussion is limited to certain United States
federal income tax considerations to beneficial owners of our securities who are initial purchasers of a unit pursuant to this offering
and hold the unit and each component of the unit as a capital asset within the meaning of Section 1221 of the Code. This discussion
assumes that the Class A ordinary shares and warrants will trade separately and that any distributions made (or deemed made) by
us on our Class A ordinary shares and any consideration