Company: SAC-UN
Filing Date: 2025-08-22
Form Type: DRS
Source: 0002077096-25-000043
Chunk: 286

Company: Safeguard Acquisition Corp.
Filing Date: 2025-08-22
Form: DRS
Chunk 286
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 the NYSE (on which we intend to list the Class A ordinary shares), or on a non -U.S. exchange or market that the IRS determines has rules sufficient to ensure that the market price represents a legitimate and sound fair market value. If made, a mark -to -marketelection would be effective for the taxable year for which the election was made and for all subsequent taxable years unless the Class A ordinary shares ceased to qualify as “marketable stock” for purposes of the PFIC rules or the IRS consented to the revocation of the election. Moreover, a mark -to -marketelection made with respect to our Class A ordinary shares would not apply to any lower -tierPFICs in which we hold an interest. U.S. Holders are urged to consult their tax advisors regarding the availability and tax consequences of a mark -to-marketelection in respect to our Class A ordinary shares under their particular circumstances. If we are a PFIC and, at any time, have a non -U.S. subsidiary that is classified as a PFIC, U.S. Holders generally would be deemed to own a portion of the shares of such lower -tierPFIC, and generally could incur liability for the deferred tax and interest charge described above if we receive a distribution from, or dispose of all or part of our interest in, the lower -tierPFIC or the U.S. Holders otherwise were deemed to have disposed of an interest in the lower -tierPFIC. Upon written request, we will endeavor to cause any lower -tierPFIC to provide to a U.S. Holder the information that may be required to make or maintain a QEF election with respect to the lower -tierPFIC. There can be no assurance that we will have timely knowledge of the status of any such lower -tierPFIC. In addition, we may not hold a controlling interest in any such lower -tierPFIC and thus there can be no assurance we will be able to cause the lower -tierPFIC to provide such required information. Accordingly, there can be no assurance that a U.S. Holder will have the information necessary to make a QEF election in respect of a lower -tierPFIC. U.S. Holders are urged to consult their tax advisors regarding the tax issues raised by lower -tierPFICs. A U U.S. Holder that owns (or is deemed to own) shares in a PFIC during any taxable year of the U.S. Holder, may have to file an