Company: BDRX
Filing Date: 2025-05-01
Form Type: DRS
Source: 0001214659-25-006756
Chunk: 136

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-01
Form: DRS
Chunk 136
---
 required to file an annual information return on IRS Form 8621 containing such information as
the United States Treasury Department may require. The failure to file IRS Form 8621 could result in the imposition of penalties and the
extension of the statute of limitations with respect to United States federal income tax.

The United States
federal income tax rules relating to PFICs are complex. U.S. Holders are urged to consult their tax advisors with respect to the purchase,
ownership and disposition of the Depositary Shares, the Pre-Funded Warrants, and the Series L Warrants, the availability of
the mark-to-market election and whether making the election would be advisable in their particular circumstances, and the IRS
information reporting obligations with respect to the purchase, ownership and disposition of the Depositary Shares, the Pre-Funded Warrants,
and the Series L Warrants.

Taxation of the Depositary Shares and Pre-Funded Warrants

Dividends and Other Distributions on the Depositary Shares and Pre-Funded Warrants. Subject to the discussion above under the heading
“-Passive Foreign Investment Company Considerations”, generally the gross amount of distributions made by us, if any,
to a U.S. Holder with respect to the Depositary Shares or the Pre-Funded Warrants, before reduction for any non-U.S. taxes
withheld therefrom, will be includable in gross income as a dividend to the extent that such distribution is paid out of our current or
accumulated earnings and profits (as determined under United States federal income tax principles). To the extent, if any, that the amount
of any cash distribution exceeds our current and accumulated earnings and profits, it will be treated first as a tax-free return
of such U.S. Holder’s tax basis in its Depositary Shares or Pre-Funded Warrants (as applicable), and to the extent the
amount of the distribution exceeds such U.S. Holder’s tax basis, the excess will be taxed as capital gain. We do not intend to calculate
our earnings and profits under United States federal income tax principles. Therefore, a U.S. Holder should expect that a distribution
will generally be treated as a dividend even if that distribution would otherwise be treated as a non-taxable return of capital
or as capital gain under the rules described above. A dividend in respect of the Depositary Shares or Pre-Funded Warrants (as
applicable) will not be eligible for the dividends-received deduction allowed to corporations in respect of dividends received from other