Company: INFY
Filing Date: 2025-09-26
Form Type: SC TO-C
Source: 0001193125-25-220644
Chunk: 52

Company: Infosys Ltd
Filing Date: 2025-09-26
Form: SC TO-C
Chunk 52
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poration will be classified as a PFIC for U.S. Federal income tax purposes if either: (1) 75% or more of its gross income for the taxable year is passive income; or (2) on average for the taxable year by value, if 50% or more of its assets produce or are held for the production of passive income.

The Company does not believe that it satisfies either of the tests for PFIC status for the fiscal year ended March 31, 2025, and the Company does not expect to satisfy either of the tests for the fiscal year ending March 31, 2026. However, because this determination is made on an annual basis and depends on a variety of factors (including the Company’s market capitalization), no assurance can be given that the Company was not considered a PFIC for the fiscal year ended March 31, 2025, or that the Company will not be considered a PFIC for the current fiscal year and/or future fiscal years. If the Company were to be a PFIC for any taxable year, U.S. holders would be required to pay an interest charge together with tax calculated at an ordinary income rates on “excess distributions,” as the term is defined in relevant provisions of U.S. tax laws, and on any gain on a sale or other disposition of Equity Shares, unless a U.S. holder makes a “QEF election” or a “mark-to-market”election, as described below. In addition, individual U.S. holders will not be eligible for the reduced

rates of dividend taxation described above if the Company is a PFIC for the fiscal year of
the dividend payment or the preceding taxable year.

If the Company is a PFIC in any year, so long as the Equity Shares or ADSs are and
remain “marketable,” a U.S. holder may be able to avoid the excess distribution rules described above by having made a timely so-called “mark-to-market” election with respect to such U.S. holder’s Equity Shares or ADSs. The Equity Shares or ADSs will be “marketable” as long as they remain regularly traded on a
national securities exchange, such as the New York Stock Exchange, or a foreign securities exchange that is regulated or supervised by a governmental authority of the country in which the market is located. A mark-to-market election will be effective for the taxable year for which the election is made and for all subsequent taxable years, unless the Equity Shares or ADSs are no longer regularly traded on a