Company: CSLMF
Filing Date: 2025-07-03
Form Type: DEFM14A
Source: 0001193125-25-155514
Chunk: 64

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-07-03
Form: DEFM14A
Chunk 64
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 shareholders, and to Public Shareholders 
 unaffiliated with the Sponsor or its affiliates from a financial point of view. As part of its analysis, Marshall & Stevens looked at two valuation approaches: (i) a selected public companies analysis and (ii) a selected                    
 transactions analysis.                                                                                                                                                                                                                          |

Marshall & Stevens’ opinion was provided to the CSLM Board (in its capacity as such) in connection with its evaluation of the Merger and was not provided to any other party for any other purpose. See “ The Business Combination Proposal — Opinion of Marshall & Stevens, as Financial Advisor to CSLM’s Board of Directors” for additional information regarding the scope, assumptions made, procedures followed, matters considered, qualifications and limitations of the review undertaken and other matters considered by Marshall & Stevens in connection with the preparation of its fairness opinion.

| Q. | What happens if a substantial number of the Public Shareholders vote in favor of the Business 
 Combination Proposal and exercise their Redemption Rights?                                    |

| A. | Our Public Shareholders are not required to vote in respect of the Proposed Transaction in                                                                                                                                                        
 order to exercise their Redemption Rights. Accordingly, the Proposed Transaction may be consummated even though the funds available from the Trust Account and the number of Public Shareholders are reduced as a result of Redemptions by Public 
 Shareholders.                                                                                                                                                                                                                                     |

24

| Q. | What conditions must be satisfied to complete the Proposed Transaction? |

| A. | The Merger Agreement is subject to the satisfaction or waiver of customary closing conditions,                                                                                                                                                  
 including, among others: The Closing is subject to certain customary conditions, including, among other things: (i) approval of the Business Combination and related agreements and transactions by the respective shareholders of CSLM and     
 Fusemachines; (ii) the effectiveness of the Registration Statement; (iii) the Pubco Common Stock being conditionally approved for listing on the Nasdaq Stock Market (“Nasdaq”) or another national stock exchange; (iv) the                    
 Domestication shall have been consummated on the day that is at least one Business Day prior to the Closing Date (v) delivery of the respective certificates, authorizations and certificates of good standing from Fusemachines, CSLM, CSLM    
 Holdings, Inc. and Merger Sub; (vi) Fusemachines shall have obtained each Fusemachines Consent; (vii) Fusemachines shall have delivered to CSLM executed employment agreements with certain employees; (viii) the size and composition of       
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