Company: APM
Filing Date: 2025-11-17
Form Type: F-1
Source: 0001213900-25-111548
Chunk: 371

Company: Aptorum Group Ltd
Filing Date: 2025-11-17
Form: F-1
Chunk 371
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| ● | a trust if (i) a U.S. court can exercise primary supervision over the trust’s administration and one or more U.S. persons are authorized to control all substantial decisions of the trust, or (ii) it has a valid election in effect under applicable U.S. Treasury regulations to be treated as a U.S. person. |

If a beneficial owner of Company shares is not described as a U.S. Holder and is not an entity treated as a partnership or other pass-through entity for U.S. federal income tax purposes, such owner will be considered a “Non-U.S. Holder.” The material U.S. federal income tax consequences applicable specifically to Non-U.S. Holders are described below under the heading “Non-U.S. Holders.” This brief summary is based upon 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; |

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| ● | 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); |

| ● | persons that acquired Company shares pursuant to an exercise of employee