Company: KOYNU
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001829126-25-003675
Chunk: 321

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-05-15
Form: DRS
Chunk 321
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s in land in the Cayman Islands). There are no exchange control regulations or currency restrictions
in the Cayman Islands.

Payments of dividends and capital in respect of our securities will not be subject
to taxation in the Cayman Islands and no withholding will be required on the payment
of a dividend or capital to any holder of the securities nor will gains derived from
the disposal of the securities be subject to Cayman Islands income or corporate tax.

No stamp duty is payable in respect of the issue of the warrants, the rights or the Class A ordinary shares. An instrument of transfer in respect of a warrant, a right, or a Class A ordinary shares is stampable if executed in or brought into the Cayman Islands.

The Company has been incorporated under the laws of the Cayman Islands as an exempted
company with limited liability and, as such, has applied for and received an undertaking
from the Financial Secretary of the Cayman Islands in a form substantially similar
to the following on October 22, 2024:

<div align='center'>“The Tax Concessions Act
(Revised)
Undertaking as to Tax Concessions</div>

In accordance with the Tax Concessions Act (Revised), the following undertaking is
hereby given to the Company:

| 1.  | That no law which is hereafter enacted in the Islands imposing any tax to be levied      
 on profits, income, gains or appreciations shall apply to the Company or its operations; 
 and                                                                                      |
| 2.  | In addition, that no tax to be levied on profits, income, gains or appreciations or      
 which is in the nature of estate duty or inheritance tax shall be payable:               |
| 2.1 | On or in respect of the shares, debentures or other obligations of the Company; or       |

<div align='center'>190</div>

| 2.2 | by way of the withholding in whole or in part of any relevant payment as defined in 
 the Tax Concessions Act (Revised).                                                  |

These concessions shall be for a period of 20 years from the 22 day of October 2024.”

Material United States Federal Income Tax Considerations [to be reviewed by Loeb tax]

General

The following discussion summarizes material United States federal income tax considerations generally applicable to the acquisition,
ownership and disposition of our units (each consisting of one Class A ordinary share and one-third of one redeemable warrant) that are purchased in