Company: QSEA
Filing Date: 2025-03-11
Form Type: S-1/A
Source: 0001829126-25-001676
Chunk: 222

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-11
Form: S-1/A
Chunk 222
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 considerations generally applicable to the acquisition, ownership and disposition of our units, ordinary
shares and rights is based upon laws and relevant interpretations thereof in effect as of the date of this prospectus, all of which are
subject to change. This summary does not deal with all possible tax consequences relating to an investment in our ordinary shares and
rights, such as the tax consequences under state, local and other tax laws.

Prospective investors should consult their professional
advisors on the possible tax consequences of buying, holding or selling any securities under the laws of their country of citizenship,
residence or domicile.

Cayman Islands Taxation

The following is a discussion on certain Cayman Islands
income tax consequences of an investment in our securities. The discussion is a general summary of present law, which is subject to prospective
and retroactive change. It is not intended as tax advice, does not consider any investor’s particular circumstances and does not
consider tax consequences other than those arising under Cayman Islands law.

Under Existing Cayman Islands Laws

Payments of dividends and capital in respect of our
securities will not be subject to taxation in the Cayman Islands and no withholding will be required on the payment of a dividend or
capital to any holder of the securities nor will gains derived from the disposal of the securities be subject to Cayman Islands income
or corporate tax. The Cayman Islands currently has no income, corporate or capital gains tax and no estate duty, inheritance tax or gift
tax.

No stamp duty is payable in respect of the issue
of our securities or on an instrument of transfer in respect of our securities.

The Company is incorporated under the laws
of the Cayman Islands as an exempted company with limited liability and, has applied and received an undertaking from the Financial Secretary
of the Cayman Islands in the following form:

<div align='center'>141</div>

<div align='center'>The Tax Concessions Act

(As Revised)

Undertaking as to Tax Concessions</div>

In accordance with the provision of section 6
of The Tax Concessions Act (As Revised), the Financial Secretary undertakes with Quartzsea Acquisition Corporation (“the Company”).

| 1. | That no law which is hereafter enacted                                                                                           
 in the Cayman Islands imposing any tax to be levied on profits, income, gains or appreciations shall apply to the Company or its 
 operations; and                                                                                                                  |

| 2. | In addition, that no tax to be levied