Valuence Merger Corp. I

PFIC Annual Information Statement

PFIC Annual Information Statement

On May 25, 2023, Valuence Merger Corp. I (the “Company”) held the extraordinary general meeting of the Company (the “Meeting”). Holders of 23,240,304 of the Company’s ordinary shares were represented in person or by proxy at the Meeting, which represents approximately 84.5% of the ordinary shares issued and outstanding and entitled to vote as of the record date of April 24, 2023. At the Meeting, the Company’s shareholders approved a proposal to amend the Company’s amended and restated memorandum and articles of association (the “Articles”) to provide the Company with the right to extend the date by which the Company must consummate its initial business combination (the “Extension”), from June 3, 2023 (the “Current Outside Date”) to September 3, 2023 (the “Extended Date”), and to allow the Company, without another shareholder vote, by resolution of the board of directors of the Company, to elect to further extend the Extended Date in one-month increments up to eighteen (18) additional times, or a total of up to twenty-one (21) months after the Current Outside Date, until up to March 3, 2025 (each, an “Additional Extended Date”) (the “Extension,” and such proposal, the “Extension Proposal”). The Company’s shareholders also approved a proposal (the “Redemption Limitation Amendment Proposal”) to amend the Articles to eliminate (i) the limitation that the Company may not redeem public shares in an amount that would cause the Company’s net tangible assets to be less than $5,000,001 and (ii) the limitation that the Company shall not consummate a business combination unless the Company has net tangible assets of at least $5,000,001 immediately prior to, or upon consummation of, or any greater net tangible asset or cash requirement that may be contained in the agreement relating to, such business combination. The Company’s shareholders also approved a proposal (the “Founder Share Amendment Proposal”) to provide for the right of a holder of the Company’s Class B ordinary shares, par value $0.0001 per share, to convert such shares into Class A ordinary shares, par value $0.0001 per share, on a one-for-one basis at any time and from time to time prior to the closing of a business combination at the election of the holder. The vote tabulation for the Extension Proposal, Redemption Limitation Amendment Proposal and the Founder Share Amendment Proposal is set forth below. Approval of Proposal 1-Extension ProposalVotes For: 16,803,785Votes Against: 6,436,519Abstentions: 0  Approval of Proposal 2-Redemption Limitation Amendment ProposalVotes For: 20,451,346Votes Against: 2,788,958Abstentions: 0 Approval of Proposal 3-Founder Share Amendment ProposalVotes For: 20,451,346Votes Against: 2,788,958Abstentions: 0 In connection with the vote to approv

Date: May 4, 2023Dear Shareholders of Valuence Merger Corp. I: You are cordially invited to attend the Extraordinary General Meeting (the “Extraordinary General Meeting”) of Valuence Merger Corp. I, a Cayman Islands exempted company (the “Company,” “we,” “us” or “our”), to be held on May 25, 2023, at 8:00 a.m., Eastern Time, at the offices of White & Case LLP, located at 1221 Avenue of the Americas, New York, New York 10020, and virtually via live webcast at https://www.cstproxy.com/vmca/2023, or at such other time, on such other date and at such other place to which the meeting may be postponed or adjourned. The accompanying proxy statement is dated May 4, 2023, and is first being mailed to shareholders of the Company on or about May 5, 2023. Please promptly submit your proxy vote by completing, dating, signing and returning the enclosed proxy, so that your shares will be represented at the Extraordinary General Meeting. It is strongly recommended that you complete and return your proxy card before the Extraordinary General Meeting date to ensure that your shares will be represented at the Extraordinary General Meeting. Instructions on how to vote your shares are on the proxy materials you received for the Extraordinary General Meeting. The Extraordinary General Meeting is being held to consider and vote upon the following proposals: 1. Proposal No. 1 — The Extension Proposal as a special resolution, to amend the Company’s Amended and Restated Memorandum and Articles of Association (the “Charter”) pursuant to an amendment to the Charter in the form set forth in Annex A of the accompanying proxy statement to extend the date by which the Company must consummate a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination (a “business combination”) from June 3, 2023 (the “Current Outside Date”) for three months to September 3, 2023 (the “Extended Date”) and to allow the Company, without another shareholder vote, by resolution of the Company’s board of directors (the “Board”), to elect to further extend the Extended Date in one-month increments up to eighteen (18) additional times, or a total of up to twenty-one (21) months after the Current Outside Date, until up to March 3, 2025 (each, an “Additional Extended Date”) (the “Extension,” and such proposal, the “Extension Proposal”); 2. Proposal No. 2 — The Redemption Limitation Amendment Proposal as a special resolution, to amend the Charter pursuant to an amendment to the Charter in the form set forth in Annex B of the accompanying proxy statement to eliminate (i) the limitation that the Company may not redeem public shares in an amount that would cause the Company’s net tangible assets to be less than $5,000,001 and (ii) the limitation that the Company shall not consummate a business combination unless the Company has net tangible assets of at least $5,000,001 immediately prior to, or upon consummation of, or any greater net tangible asset or cash requirement that may be contained in the agreement relating to, such business combination (collectively, the “Redemption Limitation”) (the “Redemp

PFIC Annual Information Statement

Valuence Merger Corp. I Announces the Separate Trading of its Ordinary Shares and Warrants, Commencing April 22, 2022.

Valuence Merger Corp. I Announces Pricing of $200,000,000 Initial Public Offering.