IMPORTANT TAX NOTICE

March 18, 2021

Attention: U.S. Shareholders of BROADSTONE ACQUISITION CORP.

Re: 2020 PFIC Status

This statement is provided for shareholders who are United States persons for purposes of the U.S. Internal Revenue Code. It is not relevant to other shareholders.

BROADSTONE ACQUISITION CORP. (or "the Company") meets the Internal Revenue Code definition of a passive foreign investment company ("PFIC") for the taxable year ended December 31, 2020. The Company is hereby making available PFIC Annual Information Statements for BROADSTONE ACQUISITION CORP. for their taxable years beginning on September 15, 2020 (Inception Date) and ending on December 31, 2020 pursuant to the requirements of Treasury Regulation Section 1.1295-1(j)(1).

The PFIC Annual Information Statements contain information to enable you, should you choose, to elect to treat BROADSTONE ACQUISITION CORP. as a Qualified Electing Fund ("QEF").

A U.S. shareholder, who makes a QEF election for BROADSTONE ACQUISITION CORP., is required annually to include in his or her income, or his or her pro rata share, of the ordinary earnings and net capital gains for BROADSTONE ACQUISITION CORP. The QEF election is made by completing and attaching Form 8621 for each PFIC to your federal income tax return filed by the due date of the return, including extensions.

U.S. shareholders are advised to consult with their tax advisors with respect to the 2020 PFIC Annual Information Statement.

Further information on PFIC rules is available on the internet at the Internal Revenue Service website, including the following pages:

  • • Detailed information about PFICs and the QEF election:https://www.irs.gov/instructions/i8621

  • • Instructions to complete Form 8621:https://www.irs.gov/pub/irs-pdf/i8621.df

  • • Form 8621:https://www.irs.gov/pub/irs-pdf/f8621.pdf

THIS INFORMATION IS PROVIDED IN ORDER TO ASSIST SHAREHOLDERS IN MAKING CALCULATIONS AND DOES NOT CONSTITUTE TAX ADVICE. SHAREHOLDERS ARE ADVICED TO CONSULT THEIR OWN TAX ADVISORS CONCERNING THE OVERALL TAX CONSEQUENCES OF THE OWNERSHIP OF BROADSTONE ACQUISITION CORP. ARISING IN THEIR OWN PARTICULAR SITUATIONS UNDER THE UNITED STATES FEDERAL, STATE, LOCAL OR FOREIGN LAW.

Broadstone Acquisition Corp

PFIC Annual Statement

Entity Name: Broadstone Acquisition Corp

Broadstone Acquisition Corp (the "Company") is considered a "passive foreign investment company" ("PFIC") for U.S. federal income tax purposes. The following information is provided to allow the Shareholder to make an election under Section 1295 of the Internal Revenue Code to treat the Company as a Qualified Electing Fund ("QEF Election") for U.S. federal income tax purposes. The QEF Election is optional and can only be made by the Shareholder. The Company is unable to make this election on behalf of the Shareholder. Please note that this election may not be recognized for state income tax purposes in some states. The PFIC rules are complex. Please consult with your personal tax advisor to determine whether or not it is advisable for you to make a QEF Election with respect to your investment in the Company.

  • (1) This PFIC Annual Information statement applies to the tax period of the Company beginning on September 15, 2020 and ending on December 31, 2020.

  • (2) The Shareholder's per-unit, per-day information for the Company's taxable period specified in paragraph (1) is provided in the below chart. We recommend that all U.S. taxpayer clients consult a tax advisor concerning the overall tax consequences of their ownership of Funds and their U.S. tax reporting requirements.

    Fund Name (and name of any underlying funds if applicable)

    Ticker

    Ordinary Earnings (US$)

    Net Capital Gains (US$)

    Broadstone Acquisition Corp

    BSN

    0.00000253861

    None

  • (3) The amount of cash and fair market value of other property distributed or deemed distributed by the Company to the Shareholder during the Company's taxable period specified in paragraph (1) is as follows:

    Cash:

    Fair Market Value of Property:None None

  • (4) The Company will permit the Shareholder to inspect and copy the Company's permanent books of account, records, and such other documents as may be maintained by the Company that are necessary to establish that PFIC ordinary earnings and net capital gain, as provided in Section 1293(e) of the Internal Revenue Code, are computed in accordance with U.S. income tax principles, and to verify these amounts and the Shareholder's pro rata share thereof.

Broadstone Acquisition CorpDate: __________08/03/2021_________

By: _________________________________________

Title: ________________________________________

CFO

Additional Information

The following additional information is supplied to enable the Shareholder to complete IRS Form 8621:

(Please note: the Shareholder may have additional filing disclosures including, but not limited to, Forms 926, 5471, and/or 8938 as a result of your investment in the Company. Please consult your tax advisor.)

Address of the PFIC:

7 Portman Mews South

Marylebone, London W1H 6AY United Kingdom

Taxpayer Identification Number:

FOREIGNUS

Country of Incorporation:

Cayman Islands

Date of Incorporation:

5/13/2020

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Broadstone Acquisition Corp. published this content on 18 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 March 2021 14:07:02 UTC.