Company: XOMAP
Filing Date: 2025-10-03
Form Type: 424B5
Source: 0001193125-25-230393
Chunk: 46

Company: XOMA Royalty Corp
Filing Date: 2025-10-03
Form: 424B5
Chunk 46
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 any applicable income tax treaties and the availability of a refund on any excess U.S. federal tax withheld.

If dividends paid to a Non-U.S. Holder are effectively connected with such Non-U.S. Holder’s conduct of a trade or business within the United States
(and, if required by an applicable income tax treaty, are attributable to a permanent establishment that such holder maintains in the United States) if a properly executed IRS Form W-8ECI, stating that the
dividends are so connected, is furnished to us (or, if stock is held through a financial institution or other agent, to such agent), such Non-U.S. Holder will generally be exempt from the U.S. federal
withholding tax described above. In general, such effectively connected dividends will be subject to U.S. federal income tax on a net income basis at the regular rates applicable to a U.S. person, unless a specific treaty exemption applies. A
corporate Non-U.S. Holder receiving effectively connected dividends may also be subject to an additional “branch profits tax” at a rate of 30% (or such lower rate as may be specified by an applicable income tax treaty), subject to
certain adjustments. Each Non-U.S. Holder is urged to consult its tax advisor regarding the U.S. federal income tax considerations of any distributions with respect to our Series B Preferred Stock, including
any applicable tax treaties that may provide for different rules.

Holder’s Conversion Option in connection with a Change of Control or Delisting Event.

In the event of a Non-U.S. Holder’s conversion of Series B Preferred Stock in connection with a Change of Control, Delisting Event or
otherwise, the tax considerations of such conversion will depend, in part, upon the facts underlying the transaction in which the conversion occurs. Each Non-U.S. Holder is urged to consult its tax advisor regarding the tax considerations of the
conversion of Series B Preferred Stock.

S-33

Constructive Distributions.

As described above under “Tax Considerations forU.S.Holders -Constructive Distributions,” adjustments in the conversion
price (or failures to adjust the conversion price), or possible redemption premium, that result in an increase in the proportionate interest of a Non-U.S. Holder in our assets or earnings and profits could result in deemed distributions to the
Non-U.S. Holder that are taxed as described above under “Distributions.”

Sale, Exchange, or Certain Other Taxable Dispositions of the Series B Preferred Stock.

Subject to the discussions below regarding backup withholding