Company: RENEF
Filing Date: 2025-10-20
Form Type: DEF 14A
Source: 0001104659-25-100857
Chunk: 48

Company: Cartesian Growth Corp II
Filing Date: 2025-10-20
Form: DEF 14A
Chunk 48
---
 the foregoing is subject to change,
which change could apply retroactively and could affect the tax considerations described herein. This discussion does not address U.S.
federal taxes other than those pertaining to U.S. federal income taxation (such as estate or gift taxes, the alternative minimum tax
or the Medicare tax on investment income), nor does it address any aspects of U.S. state or local or non-U.S. taxation.

We have not and do not intend
to seek any rulings from the Internal Revenue Service (the “IRS”) regarding the exercise of redemption rights. There can
be no assurance that the IRS will not take positions inconsistent with the considerations discussed below or that any such positions
would not be sustained by a court.

This discussion does not
consider the tax treatment of partnerships or other pass-through entities or persons who hold our securities through such entities. If
a partnership (or any entity or arrangement so characterized for U.S. federal income tax purposes) holds Class A Ordinary Shares, the
tax treatment of such partnership and a person treated as a partner of such partnership will generally depend on the status of the partner
and the activities of the partnership. Partnerships holding any Class A Ordinary Shares and persons that are treated as partners of such
partnerships should consult their tax advisors as to the particular U.S. federal income tax consequences of an exercise of redemption
rights to them.

EACH HOLDER SHOULD CONSULT ITS OWN TAX ADVISOR WITH RESPECT TO THE PARTICULAR TAX CONSEQUENCES TO SUCH HOLDER, AN EXERCISE OF REDEMPTION RIGHTS, INCLUDING THE EFFECTS OF U.S. FEDERAL, STATE AND LOCAL AND NON-U.S. TAX LAWS.

U.S. Holders

As used herein, a “U.S. Holder” is
a beneficial owner of Class A Ordinary Shares who or that is, for U.S. federal income tax purposes:

| · | an individual                                                                                                                       
 citizen or resident of the United States,                                                                                           |
| · | a corporation                                                                                                                       
 (or other entity that is treated as a corporation for U.S. federal income tax purposes) that is created or organized (or treated    
 as created or organized) in or under the laws of the United States or any state thereof or the District of Columbia,                |
| · | an estate                                                                                                                           
 whose income is subject to U.S. federal income tax regardless of its source, or                                                     |
| · | a trust                                                                                                                             
 if (1) a U.S. court can exercise primary supervision over the