Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063899
Chunk: 364

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 364
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 laws of the United States, any state therein or the District of Columbia;                                                                                                                                                                 |
| (3) | an estate, the income of which is subject to U.S. federal income taxation regardless of its source; or                                                                                                                                                                                                                                  |
| (4) | a trust, (i) if a court within the United States is able to exercise primary supervision over its administration and one or more “U.S. persons” (within the meaning of the Code) have the authority to control all of its substantial decisions, or (ii) if a valid election is in effect for the trust to be treated as a U.S. person. |

U.S. Holders are encouraged
to consult their tax advisors concerning the U.S. federal, state, local and foreign tax consequences of purchasing, owning and disposing
of Class A Ordinary Shares in their particular circumstances.

Taxation of Distributions

Subject to the
discussion below under “Passive Foreign Investment Company (PFIC) Rules,” a U.S. Holder will be required to include in
gross income as dividend income the gross amount of any distributions paid on Class A Ordinary Shares (including any amount of taxes
withheld), other than certain pro ratadistributions of Class A Ordinary Shares, to the extent paid out of our current or
accumulated earnings and profits (as determined under U.S. federal income tax principles). Distributions in excess of our current
and accumulated earnings and profits would be treated as a non-taxable return of capital to the extent of the U.S. Holder’s
adjusted tax basis in the Class A Ordinary Shares and thereafter as a gain from the sale of the Class A Ordinary Shares. However,
because we do not calculate our earnings and profits under U.S. federal income tax principles, we expect that distributions
generally will be reported to U.S. Holders as dividends.

In case of a U.S. Holder that
is a corporation, dividends paid on the Class A Ordinary Shares will be subject to regular corporate rates and will not be eligible for
the “dividends received” deduction generally allowed to corporate shareholders with respect to dividends received from U.S.
corporations.

With respect to non-corporate
U.S. Holders, including individual U.S. Holders, dividends will be taxed at the lower capital gains rate applicable to qualified dividend
income, provided that (1) the Class A Ordinary Shares are readily tradable on an established securities market in the United States, or
we are eligible for the benefits of an approved