Company: RENEF
Filing Date: 2025-10-20
Form Type: DEF 14A
Source: 0001104659-25-100857
Chunk: 55

Company: Cartesian Growth Corp II
Filing Date: 2025-10-20
Form: DEF 14A
Chunk 55
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 their
particular circumstances.

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If a U.S. Holder makes a
QEF election after our first taxable year as a PFIC in which the U.S. Holder held (or was deemed to hold) Class A Ordinary Shares, the
adverse PFIC tax consequences (with adjustments to take into account any current income inclusions resulting from the QEF election) will
continue to apply with respect to such Class A Ordinary Shares unless the U.S. Holder makes a purging election under the PFIC rules.
Under the purging election, the U.S. Holder will be deemed to have sold such Class A Ordinary Shares at their fair market value and any
gain recognized on such deemed sale will be treated as an excess distribution, taxed under the PFIC rules described above. As a result
of the purging election, the U.S. Holder will have a new basis and holding period in such Class A Ordinary Shares for purposes of the
PFIC rules.

In order to comply with the
requirements of a QEF election, a U.S. Holder must receive a PFIC annual information statement from us. If we determine we are a PFIC
for any taxable year, we will endeavor to provide to a U.S. Holder such information as the IRS may require, including a PFIC annual information
statement, in order to enable the U.S. Holder to make and maintain a QEF election, but there is no assurance that we will timely provide
such required information. There is also no assurance that we will have timely knowledge of our status as a PFIC in the future or of
the required information to be provided.

If a U.S. Holder has made
a QEF election with respect to its Class A Ordinary Shares, and the special tax and interest charge rules do not apply to such shares
(because of a timely QEF election for our first taxable year as a PFIC in which the U.S. Holder holds (or is deemed to hold) such shares
or as a result of a purging election, as described above), any gain recognized on the sale of the Class A Ordinary Shares generally will
be taxable as capital gain and no interest charge will be imposed. As discussed above, U.S. Holders of a QEF are currently taxed on their
pro rata shares of its earnings and profits, whether or not distributed. In such case, a subsequent distribution of such earnings and
profits that were previously included in income generally should not be taxable