Company: PFSA
Filing Date: 2025-07-03
Form Type: PRE 14C
Source: 0001213900-25-061184
Chunk: 12

Company: Profusa, Inc.
Filing Date: 2025-07-03
Form: PRE 14C
Chunk 12
---
 will be taxable
at a reduced rate.

U.S. Federal Income Tax Considerations to Non-U.S. Holders

This section is addressed to Non-U.S. Holders of our common stock that
elect to have their common stock redeemed for cash. For purposes of this discussion, a “Non-U.S. Holder” is a beneficial owner
(other than a partnership) that so redeems its common stock of the Company and is not a U.S. Holder.

Redemption of Common Stock

The characterization for United States federal income tax purposes
of the redemption of a Non-U.S. Holder’s common stock generally will correspond to the United States federal income tax characterization
of such a redemption of a U.S. Holder’s common stock, as described under “U.S. Federal Income Tax Considerations to U.S. Holders.”

<div align='center'>6</div>

Non-U.S. Holders of our common stock considering exercising their redemption
rights should consult their own tax advisors as to whether the redemption of their common stock of the Company will be treated as a sale
or as a distribution under the Code.

Gain or Loss on a Redemption of Common Stock Treated as a Sale

If the redemption qualifies as a sale of common stock, a Non-U.S. Holder
generally will not be subject to United States federal income or withholding tax in respect of gain recognized on a sale of its common
stock of the Company, unless:

| ● | the gain is effectively connected                                                                                                                
 with the conduct of a trade or business by the Non-U.S. Holder within the United States (and, under certain income tax treaties, is attributable 
 to a United States permanent establishment or fixed base maintained by the Non-U.S. Holder), in which case the Non-U.S. Holder will generally    
 be subject to the same treatment as a U.S. Holder with respect to the redemption, and a corporate Non-U.S. Holder may be subject to the          
 branch profits tax at a 30% rate (or lower rate as may be specified by an applicable income tax treaty);                                         |

| ● | the Non-U.S. Holder is an individual                                                                                                          
 who is present in the United States for 183 days or more in the taxable year in which the redemption takes place and certain other conditions 
 are met, in which case the Non-U.S. Holder will be subject to a 30% tax on the individual’s net capital gain for the year; or                 |

Taxation of Distributions

If the redemption does not qualify