Company: KOYNU
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001829126-25-003675
Chunk: 334

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-05-15
Form: DRS
Chunk 334
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 portion thereof) that is included in the holding period
of a U.S. Holder of our Class A ordinary shares or warrants and, in the case of our Class A ordinary shares, the U.S. Holder did not
make either a timely mark-to-market election or a qualified electing fund (“QEF”) election for our first taxable year as
a PFIC in which the U.S. Holder held (or was deemed to hold) Class A ordinary shares, as described below, such U.S. Holder generally
will be subject to special rules with respect to (i) any gain recognized by the U.S. Holder on the sale or other disposition of its Class
A ordinary shares or warrants (which may include gain realized by reason of transfers of Class A ordinary shares or warrants that would
otherwise qualify as nonrecognition transactions for U.S. federal income tax purposes) and (ii) any “excess distribution”
made to the U.S. Holder (generally, any distributions to such U.S. Holder during a taxable year of the U.S. Holder that are greater than
125% of the average annual distributions received by such U.S. Holder in respect of the Class A ordinary shares during the three preceding
taxable years of such U.S. Holder or, if shorter, the portion of such U.S. Holder’s holding period for the Class A ordinary shares
that preceded the taxable year of the distribution).

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Under these rules:

| ● | the U.S. Holder’s gain or excess distribution will be allocated ratably over the U.S. Holder’s holding period for the Class A ordinary shares, rights, or warrants; |
| ● | the amount allocated to the U.S. Holder’s taxable year in which the U.S. Holder recognized the gain or received the excess distribution, or to the period in        
 the U.S. Holder’s holding period before the first day of our first taxable year in which we are a PFIC, will be taxed as ordinary income;                           |

| ● | the amount allocated to other taxable years (or portions thereof) of the U.S. Holder and included in its holding period will be taxed at the highest tax rate in 
 effect for that year and applicable to the U.S. Holder without regard to the U.S. Holder’s other items of income and loss for such year; and                     |

| ● | an additional amount equal to the interest charge generally applicable to underpayments                               
 of tax will be imposed on the U.S.