(Mark One)☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year endedDecember 31,2024 Or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the transition period fromto Commission FileNo.001-41219 CSLM ACQUISITION CORP.(Exact name of registrant as specified in its charter) (Previously Consilium Acquisition Corp I, Ltd) 98-1602789(I.R.S. EmployerIdentification No.) Cayman Islands(State or other jurisdiction ofincorporation or organization) (954)315-9380(Registrant’s telephone number, including area code)Securities registered pursuant to Section12(b) of the Act: Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulationS-T(§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit suchfiles).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, anon-acceleratedfiler, a smaller reporting company, or anemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growthcompany” in Rule12b-2of the Exchange Act. Largeacceleratedfiler☐Non-acceleratedfiler☒ Smallerreportingcompany☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with anynew or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internalcontrol over financial reporting under Section404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm thatprepared or issued its audit report.☐ If securities are registered pursuant to Section12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in thefiling reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensationreceived by any of the registrant’s executive officers during the relevant recovery period pursuant to§240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2of the Exchange Act):Yes☒No☐ The aggregate market value of the Registrant’s shares of ClassA common stock outstanding, other than shares held by persons who may be deemedaffiliates of the Registrant, computed as of June30, 2024 (the last business day of the Registrant’s most recently completed second fiscal quarter), wasapproximately $53,639,382. As of April11, 2025, there were6,116,436of the Registrant’s ClassA ordinary shares and1of the Registrant’s ClassB ordinary shares, par value$0.0001 per share, issued and outstanding. Table of Contents •loss of revenue, property, and equipment or delays in operations as a result of hazards such as expropriation, war, piracy, acts of terrorism,insurrection, civil unrest, and other political risks, including tension and confrontations among political parties;•transparency issues in general and, more specifically, the U.S. Foreign Corrupt Practices Act, the U.K. Bribery Act, and other anti-corruption compliance laws and issues;•increases in taxes and governmental royalties;•unilateral renegotiation of contracts by governmental entities;•redefinition of international boundaries or boundary disputes;•difficulties enforcing our rights against a governmental agency because of the doctrine of sovereign immunity and foreign sovereigntyover international operations;•difficulties enforcing our rights against a governmental agency in the absence of an appropriate and adequate dispute resolutionmechanism to address contractual disputes, such as international arbitration;•changes in laws and policies governing operations of foreign-based companies;•foreign-exchange restrictions; and•international monetary fluctuations and changes in the relative value of the U.S. dollar as compared to the currencies of other countries inwhich we conduct business. Outbreaks of civil and political unrest and acts of terrorism have occurred in countries close to or where we may seek an acquisition. Continued orescalated civil and political unrest and acts of terrorism in the countries in which we may operate could result in our curtailing operations or delays inproject completions. In the event that countries in which we may operate experience civil or political unrest or acts of terrorism, especially in eventswhere such unrest leads to an unseating of the established government, our operations could be materially impaired. Our potential internationaloperations may