Company: FLYE
Filing Date: 2025-09-05
Form Type: DEF 14A
Source: 0001213900-25-084978
Chunk: 17

Company: Fly-E Group, Inc.
Filing Date: 2025-09-05
Form: DEF 14A
Chunk 17
---
 issued as a result
of the treatment of fractional shares.

<div align='center'>11</div>

Certain U.S. Federal Income Tax Consequences

The discussion below is
only a summary of certain U.S. federal income tax consequences of the Reverse Split generally applicable to beneficial holders of
shares of our common stock and does not purport to be a complete discussion of all possible tax consequences. This summary addresses
only those stockholders who held their pre-Reverse Split shares as “capital assets” as defined in the Code and continue
to hold the post-Reverse Split shares as capital assets. This discussion does not address all U.S. federal income tax considerations
that may be relevant to particular stockholders in light of their individual circumstances or to stockholders that are subject to special
rules, such as financial institutions, tax-exempt organizations, insurance companies, dealers in securities, and foreign stockholders.
The following summary is based upon the provisions of the Code, applicable Treasury Regulations thereunder, judicial decisions and current
administrative rulings, as of the date hereof, all of which are subject to change, possibly on a retroactive basis. Tax consequences
under state, local, foreign, and other laws are not addressed herein. Each stockholder should consult his, her or its own tax advisor
as to the particular facts and circumstances that may be unique to such stockholder and also as to any estate, gift, state, local,
or foreign tax considerations arising out of the Reverse Split.

We believe the Reverse Split
qualifies as a recapitalization for U.S. federal income tax purposes. As a result,

| ● | Stockholders should not recognize any gain or loss as a result 
 of the Reverse Split.                                          |

| ● | The aggregate basis of a stockholder’s pre-Reverse Split                                                          
 shares has become the aggregate basis of the shares held by such stockholder immediately after the Reverse Split. |

| ● | The holding period of the shares owned immediately after the                      
 Reverse Split includes the stockholder’s holding period before the Reverse Split. |

The above discussion is not intended or written to be used, and cannot be used by any person, for the purpose of avoiding U.S. Federal tax penalties. It was written solely in connection with the solicitation of stockholder votes with regard to the proposed Reverse Split.

Reservation of Right to Abandon the Reverse Split

The Board believes that stockholder
adoption and approval of the Reverse Split at a ratio of between 1-for-2 to 1-for