Company: CNTB
Filing Date: 2025-09-10
Form Type: POS AM
Source: 0001193125-25-200186
Chunk: 103

Company: Connect Biopharma Holdings Ltd
Filing Date: 2025-09-10
Form: POS AM
Chunk 103
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 Ordinary Shares, we generally will continue to be treated as a PFIC with respect to you for all succeeding years during which you hold our Ordinary Shares, unless we cease to be a PFIC and you make a “deemed sale” election with respect to the Ordinary Shares. If such election is timely made, you will be deemed to have sold the Ordinary Shares you hold at their fair market value on the last day of the last taxable year in which we were as a PFIC, and any gain from such deemed sale would be subject to the consequences described in the following two paragraphs. In addition, a new holding period would be deemed to begin for the Ordinary Shares for purposes of the PFIC rules. After the deemed sale election, your Ordinary Shares with respect to which the deemed sale election was made will not be treated as shares in a PFIC unless we subsequently become a PFIC. For each taxable year that we are treated as a PFIC with respect to you, you will be subject to special tax rules with respect to any “excess distribution” that you receive and any gain you recognize from a sale or other taxable disposition (including a deemed sale discussed in the preceding paragraph and a pledge) of the Ordinary Shares, unless you make a “mark-to-market”election as discussed below. Distributions you receive in a taxable year that are greater than 125% of the average annual distributions you received during the shorter of the three preceding taxable years or your holding period for the Ordinary Shares will be treated as an excess distribution. Under these special tax rules:

| • |     | the excess distribution or gain will be allocated ratably over your holding period for the Ordinary Shares; |

| • |     | the amount allocated to the current taxable year, and any taxable year in your holding period prior to the 
 first taxable year in which we were a PFIC, will be treated as ordinary income; and                        |

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| • |     | the amount allocated to each other year will be subject to the highest tax rate in effect for individuals or                                                                               
 corporations, as applicable, for each such year, and the interest charge generally applicable to underpayments of tax will be imposed on the resulting tax attributable to each such year. |

In addition, non-corporateU.S. Holders will not be eligible for reduced rates of taxation on any dividends received from us (as described above under “—Taxation of Dividends and Other Distributions on the Ordinary Shares”) if we are a PFIC in the taxable year in which such