Company: NIVFW
Filing Date: 2025-08-21
Form Type: DRS
Source: 0001213900-25-079301
Chunk: 177

Company: NewGenIvf Group Ltd
Filing Date: 2025-08-21
Form: DRS
Chunk 177
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 regarding the U.S. federal income tax consequences discussed below; thus, there can be no assurance
that the IRS will not challenge the U.S. federal income tax treatment described below or that, if challenged, such treatment will
be sustained by a court.

This summary is limited to
considerations relevant to U.S. Holders that hold the Company Securities as “capital assets” within the meaning of section
1221 of the Code (generally, property held for investment). This discussion does not address all aspects of U.S. federal income taxation
that may be important to holders in light of their individual circumstances, including holders subject to special treatment under the
U.S. tax laws, such as, for example:

| ● | banks                                                                  
 or other financial institutions, underwriters, or insurance companies; |

| ● | traders                                                                 
 in securities who elect to apply a mark-to-market method of accounting; |

| ● | real                                                         
 estate investment trusts and regulated investment companies; |

| ● | tax-exempt                                                                                                  
 organizations, qualified retirement plans, individual retirement accounts, or other tax- deferred accounts; |

| ● | expatriates                                                     
 or former citizens or long-term residents of the United States; |

| ● | subchapter                                                                                 
 S corporations, partnerships or other pass-through entities or investors in such entities; |

| ● | any                               
 holder that is not a U.S. Holder; |

| ● | dealers or traders in securities, commodities or currencies; |

| ● | grantor 
 trusts; |

| ● | persons                                 
 subject to the alternative minimum tax; |

| ● | U.S. persons                                        
 whose “functional currency” is not the U.S. dollar; |

<div align='center'>104</div>

| ● | persons                                                                                                                                 
 who receive stock of the Company through the issuance of restricted share under an incentive plan or through a tax-qualified retirement 
 plan or otherwise as compensation;                                                                                                      |

| ● | U.S. shareholders                                                                                           
 of controlled foreign corporations, as those terms are defined in Sections 951(b) and 957(a), respectively; |

| ● | persons                                                                                                                                
 who own (directly or through attribution) 5% or more (by vote or value) of the outstanding Class A Ordinary Shares (excluding treasury 
 shares);                                                                                                                               |

| ● | holders                                                                                                                     
 holding ASCA securities, or, after the Business Combination, the Company Securities, as a position in a “straddle,” as part 
 of a “synthetic security”