Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063899
Chunk: 363

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 363
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| ● | dealers or traders in securities who use a mark-to-market method of tax accounting; |

| ● | persons holding Class A Ordinary Shares as part of a hedging transaction, “straddle,” wash sale, conversion transaction or integrated transaction or persons entering into a constructive sale with respect to the Class A Ordinary Shares; |

| ● | persons whose “functional currency” for U.S. federal income tax purposes is not the U.S. dollar; |

| ● | tax exempt entities, including “individual retirement accounts” and “Roth IRAs”; |

| ● | former citizens or long-term residents of the United States; |

| ● | entities or arrangements classified as partnerships for U.S. federal income tax purposes; |

| ● | regulated investment companies or real estate investment trusts; |

| ● | persons who acquired our Class A Ordinary Shares pursuant to the exercise of an employee share option or otherwise as compensation; |

| ● | persons that own or are deemed to own ten percent or more of our shares; and |

| ● | persons holding Class A Ordinary Shares in connection with a trade or business conducted outside the United States. |

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If an entity or arrangement
that is classified as a partnership for U.S. federal income tax purposes holds Class A Ordinary Shares, the U.S. federal income tax treatment
of such partnership and each partner thereof will generally depend on the status of the partner and the activities of the partnership.
Partnerships holding Class A Ordinary Shares and partners in such partnerships are encouraged to consult their tax advisors as to the
particular U.S. federal income tax consequences of purchasing, holding and disposing of Class A Ordinary Shares.

The discussion is based
on the Internal Revenue Code of 1986, as amended (the “Code”), the Treasury Regulations issued thereunder, and administrative and judicial
interpretations thereof, all as in effect on the date hereof and all of which are subject to change, possibly with retroactive
effect, or to different interpretation. Such change could materially and adversely affect the tax consequences described below.

For purposes of this
brief discussion, a “U.S. Holder” is a holder who, for U.S. federal income tax purposes, is a beneficial owner of Class
A Ordinary Shares or warrants and that is:

| (1) | an individual citizen or resident of the United States;                                                                                                                                                                                                                                                                                 |
| (2) | a corporation, or other entity taxable as a corporation, created or organized in or under the