Company: PGYWW
Filing Date: 2025-12-05
Form Type: S-3ASR
Source: 0000950103-25-015781
Chunk: 72

Company: Pagaya Technologies Ltd.
Filing Date: 2025-12-05
Form: S-3ASR
Chunk 72
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 tax unless: (i)
the capital gain arising from such sale, exchange or disposition is attributed to real estate located in Israel; (ii) the capital gain
arising from such sale, exchange or disposition is attributed to royalties; (iii) the capital gain arising from such sale, exchange or
disposition is attributed to a permanent establishment in Israel, under certain terms; (iv) such U.S. Resident holds, directly or indirectly,
shares representing 10% or more of the company’s voting power during any part of the 12-month period preceding the disposition,
subject to certain conditions; or (v) such U.S. Resident is an individual and was present in Israel for 183 days or more during the relevant
taxable year. In any such case, the sale, exchange or disposition of our Class A Ordinary Shares by the U.S. Resident would be subject
to Israeli tax, unless exempt under Israeli domestic law as described above. However, under the U.S.-Israel Tax Treaty, such U.S. Resident
should be permitted to claim a credit for such taxes against U.S. federal income tax imposed on any gain from such sale, exchange or disposition,
under the circumstances and subject to the limitations specified in the U.S.-Israel Tax Treaty or in the United States federal income
tax laws applicable to foreign credits.

In some instances where our shareholders may be
liable for Israeli tax on the sale of their Class A Ordinary Shares, the payment of the consideration may be subject to the withholding
of Israeli tax at source.

Shareholders may be required to demonstrate that
they are exempt from tax on their capital gains in order to avoid withholding at source at the time of sale. Specifically, in transactions
involving a sale of all of the shares of an Israeli resident company, in the form of a merger or otherwise, the ITA may require shareholders
who are not liable for Israeli tax to sign declarations in forms specified by the ITA or to obtain a specific exemption from the ITA to
confirm their status as non-Israeli residents, and, in the absence of such declarations or exemptions, may require the purchaser of the
shares to withhold taxes at source.

A detailed return, including a computation of
the tax due, must be filed and an advance payment must be paid by January 31 and July 31 of each tax year for sales of securities traded
on a stock exchange made during the last six months of the preceding year or during the first six months of the current year, respectively.
However