What changed in this filing

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Item 9A. Controls and Procedures

2026-03-16 compared with 2025-03-31 · 1065 added, 1086 removed, 113 unchanged (95% of the section changed)

CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

Under the supervision and

with the participation of our management, including our Chief Executive Officer and our Chief Financial Officer (our principal executive

officer and principal accounting/financial officer), Mr.

of Disclosure Controls and Procedures

the supervision and with the participation of our management, including our Chief Executive Officer and our Chief Financial Officer (our

principal executive officer and principal accounting/financial officer), Mr.

Brady Rodgers and Mr.

DeMoss III, respectively, we conducted an evaluation

of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e)

under the Exchange Act, as of the end of the period covered by this Annual Report.

Our disclosure controls and procedures are designed

to ensure that information required to be disclosed in the reports we file or submit under the Exchange Act is recorded, processed, summarized

and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, and that such information

is accumulated and communicated to our management, including the Chief Executive Officer and Chief Financial Officer, to allow timely

decisions regarding required disclosures.

Based on this evaluation, our Chief Executive Officer and our Chief Financial Officer concluded

that as of December 31, 2024, the design and operation of our disclosure controls and procedures were effective.

Limitations on Effectiveness

of Controls and Procedures and Internal Control over Financial Reporting

In designing and evaluating

the disclosure controls and procedures and internal control over financial reporting, management recognizes that any controls and procedures,

no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives.

the design of disclosure controls and procedures and internal control over financial reporting must reflect the fact that there are resource

constraints and that management is required to apply judgment in evaluating the benefits of possible controls and procedures relative

to their costs.

Management’s Report on Internal Controls

over Financial Reporting

This Report does not include

a report of management’s assessment regarding internal control over financial reporting or an attestation report of our registered

public accounting firm due to a transition period established by the rules of the SEC for newly public companies.

Changes in Internal Control over Financial

There has not been any change

in our internal control over financial reporting that occurred during the three months ended December 31, 2024, that has materially affected,

or is reasonably likely to materially affect, our internal control over financial reporting.

DeMoss III, respectively,

we conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in

Rules 13a-15(e) and 15d-15(e) under the Exchange Act, as of the end of the period covered by this Annual Report.

Our disclosure controls

and procedures are designed to ensure that information required to be disclosed in the reports we file or submit under the Exchange Act

is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules

and forms, and that such information is accumulated and communicated to our management, including the Chief Executive Officer and Chief

Financial Officer, to allow timely decisions regarding required disclosures.

Based on this evaluation, our Chief Executive Officer and

our Chief Financial Officer concluded that as of December 31, 2025, the design and operation of our disclosure controls and procedures

were effective.

on Effectiveness of Controls and Procedures and Internal Control over Financial Reporting

designing and evaluating the disclosure controls and procedures and internal control over financial reporting, management recognizes

that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired

control objectives.

In addition, the design of disclosure controls and procedures and internal control over financial reporting must

reflect the fact that there are resource constraints and that management is required to apply judgment in evaluating the benefits of

possible controls and procedures relative to their costs.

Report on Internal Controls Over Financial Reporting

required by SEC rules and regulations implementing Section 404 of the Sarbanes-Oxley Act, our management is responsible for establishing

and maintaining adequate internal control over financial reporting, as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act.

Our internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting

and the preparation of our financial statements for external reporting purposes in accordance with GAAP.

Our internal control over financial

reporting includes those policies and procedures that:

to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets

of our company,

reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with GAAP,

and that our receipts and expenditures are being made only in accordance with authorizations of our management and directors, and

reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our assets that could

have a material effect on the financial statements.

of its inherent limitations, internal control over financial reporting may not prevent or detect errors or misstatements in our

financial statements.

Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls

may become inadequate because of changes in conditions, or that the degree or compliance with the policies or procedures may

Management assessed the effectiveness of our internal control over financial reporting at December 31, 2025.

these assessments, management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission

(COSO) in Internal Control — Integrated Framework (2013).

Based on our assessments and those criteria, management determined

that we maintained effective internal control over financial reporting as of December 31, 2025.

Annual Report on Form 10-K does not include an attestation report of our independent registered public accounting firm due to our status

as an emerging growth company under the JOBS Act.

in Internal Control over Financial Reporting

has not been any change in our internal control over financial reporting that occurred during the three months ended December 31, 2025,

that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

OTHER INFORMATION

Rule 10b5-1 Trading Plans.

the quarter ended December 31, 2024, none of the Company’s directors or officers (as defined in Rule 16a-1(f)) adopted or terminated any

contract, instruction or written plan for the purchase or sale of Company securities that was intended to satisfy the affirmative defense

conditions of Rule 10b5-1(c) or any “ non-Rule 10b5-1 trading arrangement.

DISCLOSURE REGARDING FOREIGN JURISDICTIONS

THAT PREVENT INSPECTIONS

Not applicable.

DIRECTORS, EXECUTIVE OFFICERS,

AND CORPORATE GOVERNANCE

Directors and Officers

Our directors and officers

are as follows:

Director Since

Brady Rodgers

President and Chief Executive Officer;

November 2024

Chief Financial Officer

Vice President of Business Development

General Counsel

Independent Director

November 2024

Marcella Burke

Independent Director

November 2024

Chairman of the Board

November 2024

Independent Director

November 2024

Brady Rodgers

10b5-1 Trading Plans.

During the quarter ended December 31, 2025, none of the Company’s directors or officers

(as defined in Rule 16a-1(f)) adopted or terminated any contract, instruction or written plan for the purchase or

sale of Company securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “ non-Rule

10b5-1 trading arrangement.

DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

DIRECTORS, EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE

directors and officers are as follows:

and Chief Executive Officer;

Financial Officer

President of Business Development

following is a brief description of the business experience and background of our current directors and executive officers.

no family relationships among any of the directors or executive officers.

President & CEO

Brady Rodgers has served

as our President & Chief Executive Officer and a member of our Board of Directors since November 2024.

Rodgers has served

as President of Antelope Energy Partners, LLC since May 2023.

Rodgers was the President and CEO of Native State CCS, a CCS development

company targeting on-site geological storage for ethanol plants from 2020 through December 2023.

Additionally, he has served as CEO

of Focus Oil from 2016 to date with his primary focus on strategic, mergers & acquisitions and technical advisory for middle

market oil & gas acquisitions.

He was a Vice President of GulfSlope Energy from 2013-2016 in corporate development &

Rodgers has served as our President & Chief Executive Officer and a member of our Board of Directors since November 2024.

has served as President of Antelope Energy Partners, LLC since May 2023.

Rodgers was the President and CEO of Native State CCS, a

CCS development company targeting on-site geological storage for ethanol plants from 2020 through December 2023.

Additionally, he

has served as CEO of Focus Oil from 2016 to date with his primary focus on strategic, mergers & acquisitions and technical advisory

for middle market oil & gas acquisitions.

He was a Vice President of GulfSlope Energy from 2013-2016 in corporate

development & engineering.

He was formerly Group Head — Energy Acquisitions & Divestitures for J.P.

Morgan from 2010-2013.

from 2010-2013.

He was with Venoco E & P in Denver in engineering & as an operations manager from 2008-2010.

His international

experience includes a stint with Endeavour International Corporation in London, UK & Houston in development & engineering

lead North Sea 2005-2008 and Devon Energy Sr.

His international experience includes a stint with Endeavour International Corporation in London, UK & Houston in development &

engineering lead North Sea 2005-2008 and Devon Energy Sr.

Production & Reservoir Engineer from 2002-2005.

has a Masters in Global Energy Management from university of Colorado and a BS in Petroleum Engineering from University of Kansas.

has served on the Board of Directors, Unconventional Resources Technical Advisory Committee (URTAC), 2009-2010 by direct appointment

of President Barack Obama.

URTAC is a US Department of Energy administered board that makes annual recommendations on federal research

of E & P foundational sciences in conjunction with federal, state and environmental, and industry representatives.

a former or current member of SPE, IPAA, ADAM, YPE, DAC and Houston Producers Forum.

He is a former Board of Trustees of the Houston Hobby

Center for the Performing Arts and an active volunteer with Junior achievement, Habit for Humanity and PTSD veteran support group.

We believe Mr.

is qualified to serve on our Board of Directors due to his extensive energy management experience.

has a Masters in Global Energy Management from the University of Colorado and a BS in Petroleum Engineering from the University of Kansas.

He has served on the Board of Directors, Unconventional Resources Technical Advisory Committee (URTAC), 2009-2010 by direct

appointment of President Barack Obama.

URTAC is a US Department of Energy administered board that makes annual recommendations on federal

research of E & P foundational sciences in conjunction with federal, state and environmental, and industry representatives.

He has been a former or current member of SPE, IPAA, ADAM, YPE, DAC and Houston Producers Forum.

He is a former Board of Trustees of

the Houston Hobby Center for the Performing Arts and an active volunteer with Junior achievement, Habit for Humanity and PTSD veteran

support group.

Rodgers is qualified to serve on our Board of Directors due to his extensive energy management experience.

DeMoss III, CPA

DeMoss III serves as our Chief Financial Officer.

DeMoss is also currently co-founder and Chief Financial Officer

of Tanglewood Energy Partners, LLC, a privately-held energy investment management company, a position he has held since 2019.

1993, he has also served as chairman of DeMoss Interests, Ltd, a family office holding group composed of oil and gas, farming, and real

estate interests.

He was formerly the General Manager of George & Cynthia Mitchell Historic Galveston Properties.

his career with the audit group of Coopers & Lybrand where he focused on energy and real estate clients in the Houston office.

He holds FINRA investment banking and other securities registrations, in addition to Certified Public Accountant registrations in Texas

He is a member of the American Institute of Certified Public Accountants and holds the AICPA’s Chartered Global Management

Accountant (CGMA) designation.

He obtained his BBA degree from Texas A&M University and his MS degree from Massachusetts Institute

of Technology (MIT).

Vice President of Business Development

Lessard serves as our

“ Chip ” DeMoss III serves as our Chief Financial Officer.

DeMoss is also currently co-founder and

Chief Financial Officer of Tanglewood Energy Partners, LLC, a privately-held energy investment management company, a position he

has held since 2019.

Since 1993, he has also served as chairman of DeMoss Interests, Ltd, a family office holding group composed of oil

and gas, farming, and real estate interests.

He was formerly the General Manager of George & Cynthia Mitchell Historic Galveston

He started his career with the audit group of Coopers & Lybrand where he focused on energy and real estate clients

in the Houston office.

He holds FINRA investment banking and other securities registrations, in addition to Certified Public Accountant

registrations in Texas and Florida.

He is a member of the American Institute of Certified Public Accountants and holds the AICPA’s

Chartered Global Management Accountant (CGMA) designation.

He obtained his BBA degree from Texas A&M University and his MS degree

from Massachusetts Institute of Technology (MIT).

Vice President of Business Development

Lessard has served as a principal with Native States CCS, a CCS development company targeting

on-site geological storage for ethanol plants since February 2022.

Prior to joining Native States, he served as a Development Manager

for Advance Energy Partners, LLC, a position he held from October 2018 through January 2022.

Lessard obtained his BS degree in Petroleum

Engineering from Colorado School of the Mines.

General Counsel

Mathews serves

as the General Counsel.

Mathews has been providing legal services for the energy industry for more than thirty (30) years.

He has an extensive oil and gas legal and business management career in the upstream, midstream and energy services industry.

his career, Mr.

Mathews has represented both publicly-traded and privately held clients and has advised numerous private equity

backed entities, as well as independent oil and gas firms including equity and debt offerings and merger and acquisition transactions, complex

corporate oil and gas litigation in state and federal courts, asset acquisitions, divestitures and reorganizations.

Since October 2020,

Matthews has served as the President for Tanglewood Energy Partners, LLC.

Prior to that, from June 2018 to September 2020,

he served as General Counsel for Churchill Oil & Gas, LLC and from August 2015 through September 2017, he served as

Senior Vice President and General Counsel of Copestone Energy.

He served as Managing Attorney — Oil & Gas for

Denbury Resources, Inc.

which included CO2 related asset acquisitions, pipeline issues and divestitures.

Mathews has been a

Partner/Shareholder in major U.S.

law firms, practice specializing in the energy industry.

Mathews holds a BBA in Petroleum

Land Management from the University of Oklahoma and a Doctor of Jurisprudence from South Texas College of Law.

Lessard serves as our Vice President of Business Development.

Lessard has served as a principal with Native States CCS, a CCS development

company targeting on-site geological storage for ethanol plants since February 2022.

Prior to joining Native States, he served as a Development

Manager for Advance Energy Partners, LLC, a position he held from October 2018 through January 2022.

Lessard obtained his BS degree

in Petroleum Engineering from Colorado School of the Mines.

Independent Director (Energy/Government)

Flores has 30 years of energy industry experience, including over 20 years of “C-level” and board governance leadership with

public and private energy companies.

Following his energy industry career, he served in the United States House of Representatives from

2011 to 2021 as Congressman for the 17th Congressional District of Texas from 2011 to 2021.

He currently serves as Chair of Serolf Technologies

LLC (wholly owned by Mr.

“Bill” Flores has 30 years of energy industry experience, including over 20 years of “C-level” and board governance

leadership with public and private energy companies.

Following his energy industry career, he served in the United States House of Representatives

from 2011 to 2021 as Congressman for the 17th Congressional District of Texas from 2011 to 2021.

He currently serves as Chair of Serolf

Technologies LLC (wholly-owned by Mr.

Chair of the Board of the Electric Reliability Council of Texas (ERCOT);

Chair of the Board and Audit

Committee Chair of Nauticus Robotics Inc.

Board and Audit Committee Chair of Nauticus Robotics Inc.

Director and Audit Committee Chair of New Era Helium (NASDAQ);

member of the Strategic

Advisory Committee of Veriten LLC;

of the Strategic Advisory Committee of Veriten LLC;

and member of the boards of several non-profit organizations.

Bill is a Texas licensed CPA with a BBA

in Accounting from Texas A&M University (College Station) and an MBA from Houston Christian University.

We believe Mr.

is qualified to serve on our board due to his extensive government and energy experience.

Marcella Burke

Bill is a Texas licensed

CPA with a BBA in Accounting from Texas A&M University (College Station) and an MBA from Houston Christian University.

Flores is qualified to serve on our board due to his extensive government and energy experience.

Independent Director (Legal and Regulatory)

Marcella Burke serves as

a Director of the Company.

Burke serves as a Director of the Company.

Burke is an expert in environmental law and regulation.

She has been the owner and managing partner at

The Burke Law Group since February 2023.

Previously, she was a partner at Eversheds Sutherland US LLP from July 2022 through January

Prior to that, from September 2019 through July 2022, she was a partner at King & Spalding LLP, where she led

the Houston office’s Environmental Health and Safety practice.

Burke previously served Deputy General Counsel at the Environmental

Protection Agency, where she managed the litigation docket and regulatory portfolio of the Office of Chemical Safety and Pollution Prevention.

She also previously served at the Department of Interior as Deputy Solicitor for Energy and Natural Resources, and Senior Counselor to

the Assistant Secretary for Land and Minerals Management, where she managed the litigation docket and regulatory portfolio of all energy

and natural resource permitting and project development on federal oil and gas, renewables, and carbon capture program.

She has been named by the

Petroleum Economist as a global Top 100 Women of the Energy Transition, received the National Law Journal Energy/Environmental Law Trailblazer

Award, named Lawdragon 500 Leading Environmental & Energy Lawyers, and ranked among the Legal 500 United States top environmental

She is on the Executive Committee of the Environment & Natural Resources Division of the State Bar of Texas, the Institute

for Energy Law Advisory Counsel, and is the Chair of the Environment & Natural Resources Program Committee of the Foundation

for Natural Resources and Energy Law.

She was appointed by Governor Greg Abbott to serve as a Director on the School Land Board, which

approves land sales, trades and exchanges, and the purchase of land for the State of Texas General Land Office.

Burke received a Bachelor

of Arts degree from Texas A&M University and her J.D.

She has been the owner and managing

partner at The Burke Law Group since February 2023.

Previously, she was a partner at Eversheds Sutherland US LLP from July 2022

through January 2024.

Prior to that, from September 2019 through July 2022, she was a partner at King & Spalding LLP,

where she led the Houston office’s Environmental Health and Safety practice.

Burke previously served as Deputy General Counsel

at the Environmental Protection Agency, where she managed the litigation docket and regulatory portfolio of the Office of Chemical Safety

and Pollution Prevention.

She also previously served at the Department of Interior as Deputy Solicitor for Energy and Natural Resources,

and Senior Counselor to the Assistant Secretary for Land and Minerals Management, where she managed the litigation docket and regulatory

portfolio of all energy and natural resource permitting and project development on federal oil and gas, renewables, and carbon capture

has been named by the Petroleum Economist as a global Top 100 Women of the Energy Transition, received the National Law Journal Energy/Environmental

Law Trailblazer Award, named Lawdragon 500 Leading Environmental & Energy Lawyers, and ranked among the Legal 500 United States

top environmental practices.

She is on the Executive Committee of the Environment & Natural Resources Division of the State

Bar of Texas, the Institute for Energy Law Advisory Counsel, and is the Chair of the Environment & Natural Resources Program

Committee of the Foundation for Natural Resources and Energy Law.

She was appointed by Governor Greg Abbott to serve as a Director on

the School Land Board, which approves land sales, trades and exchanges, and the purchase of land for the State of Texas General Land

Burke received a Bachelor of Arts degree from Texas A&M University and her J.D.

from the University of Houston Law Center.

We believe Ms.

qualified to serve on our board due to her extensive legal experience with energy, natural resources and related industries.

Burke is qualified to serve on our board due to her extensive legal experience with energy, natural resources and related

Chairman (Industry)

Fox serves as our Chairman.

He is chief executive officer and co-founder of Windy Cove Energy II, an oil and gas producer,

and Pure Earth Plasma Holdings, an entity which is expected to own more than 20% of SynergenMet upon its listing on the Australian Stock

Fox is expected to serve as director upon Synergen’s listing.

Synergen’s primary businesses will be the carbon

free production of hydrogen and carbon black, the destruction of PFAS and the manufacture of plasma torches.

Prior to Pure Earth and

Windy Cove Energy II, he co-founded and led Windy Cove Energy as its chief executive officer from 2014 – 2016.

Previously, he was vice president of operations and engineering for Kinder Morgan CO2 Company (2000 — 2013).

co-author of the SPE monograph, Practical Aspects of CO2 Flooding and was an SPE distinguished lecturer on carbon capture utilization

He has taught numerous classes about CO2 flooding and carbon storage.

He holds a M.S.

degree in petroleum engineering from

Stanford University and a B.S.

degree in mechanical engineering from Rice University.

He is a registered professional engineer in Texas

and New Mexico.

We believe Mr.

is qualified to serve on our board due to his extensive experience in the energy industry.

“ Chuck ” Fox serves as our Chairman.

He is chief executive officer and co-founder of Windy Cove

Energy II, an oil and gas producer, and Pure Earth Plasma Holdings, which are investors in the sponsor entity, CO2 Energy

Transition, LLC.

Prior to Pure Earth and Windy Cove Energy II, he co-founded and led Windy Cove Energy as its chief

executive officer from 2014 – 2016.

Previously, he was vice president of operations and engineering for Kinder

Morgan CO2 Company (2000 — 2013).

Fox is a co-author of the SPE monograph, Practical Aspects of CO2 Flooding and

was an SPE distinguished lecturer on carbon capture utilization and storage.

He has taught numerous classes about CO2 flooding and

carbon storage.

He holds an M.S.

degree in petroleum engineering from Stanford University and a B.S.

degree in mechanical

engineering from Rice University.

He is a registered professional engineer in Texas and New Mexico.

Fox is qualified to serve on our board due to his extensive experience in the energy industry.

Independent Director

James Wang serves as a Director.

Wang has been a veteran investor and financier in the energy and decarbonization sectors for over two decades.

He is currently

a Partner and Chief Financial Officer of VP Ventures and OneLNG, an integrated micro-LNG developer in Texas, a position he has held

since September 2023.

From July 2018 to June 2023, he was a Managing Director at ARA Partners, one of the largest energy transition capital

providers in the United States where he played an important role in sourcing, execution, portfolio management and investment realization

for the firm including its investments in Centric Infrastructure Group, Priority Power, Path Environmental Technology, Anesco and Fluitron.

Prior to joining ARA, from August 2008 through July 2018, he worked at First Reserve, a global private equity investment firm.

his career in the Global Natural Resources Group, Investment Banking Division, at Lehman Brothers, a position he held from July 2006

through June 2008.

Wang has both a

Wang serves as a Director.

Wang has been a veteran investor and financier in the energy and decarbonization sectors for over

He is currently a Partner and Chief Financial Officer of VP Ventures and OneLNG, an integrated micro-LNG developer

in Texas, a position he has held since September 2023.

From July 2018 to June 2023, he was a Managing Director at ARA Partners, one of

the largest energy transition capital providers in the United States where he played an important role in sourcing, execution, portfolio

management and investment realization for the firm including its investments in Centric Infrastructure Group, Priority Power, Path Environmental

Technology, Anesco and Fluitron.

Prior to joining ARA, from August 2008 through July 2018, he worked at First Reserve, a global private

equity investment firm.

He began his career in the Global Natural Resources Group, Investment Banking Division, at Lehman Brothers, a

position he held from July 2006 through June 2008.

has both a B.B.A.

and an M.P.A.

from the University of Texas.

We believe that Mr.

is qualified to serve on our board due to his extensive capital raising and mergers and acquisitions experience.

Advisory Council Members

believe that Mr.

Wang is qualified to serve on our board due to his extensive capital raising and mergers and acquisitions experience.

Council Members

Advisory Council Member

Fred Zeidman is Chairman

of WoodRock & Co., an investment banking service business, and served as Chairman and CEO of Good Works Acquisition Corp., until

its sale to Cipher Mining, and Chairman of Good Works Acquisition Corp.

II, both publicly-held SPACs, as well as Chairman of Gordian

Group LLC, a U.S.

investment bank specializing in board level advice in complex, distressed or “ story ” financial

Zeidman is Co-Chair and Director of Council for a Secure America (CSA), an organization dedicated to promoting

United States energy independence and its impact on United States foreign policy.

Zeidman, Chairman Emeritus of the

United States Holocaust Memorial Council was appointed by President George W.

Bush in March 2002 and served in that position

from 2002-2010.

Zeidman is Chairman of WoodRock & Co., an investment banking service business, and served as Chairman and CEO of Good Works

Acquisition Corp., until its sale to Cipher Mining, and Chairman of Good Works Acquisition Corp.

II, both publicly-held SPACs, as well

as Chairman of Gordian Group LLC, a U.S.

investment bank specializing in board level advice in complex, distressed or “ story ”

financial matters.

Zeidman is Co-Chair and Director of Council for a Secure America (CSA), an organization dedicated to

promoting United States energy independence and its impact on United States foreign policy.

Zeidman, Chairman Emeritus

of the United States Holocaust Memorial Council was appointed by President George W.

Bush in March 2002 and served in

that position from 2002-2010.

A prominent Houston based business and civic leader;

Zeidman also is Chairman Emeritus of the University

of Texas Health Science System Houston.

He is formerly National Chairman of the Development Corp of Israel Campaign (Israel Bonds) and

served on the Board of the National World War II Museum.

Zeidman also is Chairman Emeritus of

the University of Texas Health Science System Houston.

He is formerly National Chairman of the Development Corp of Israel Campaign (Israel

Bonds) and served on the Board of the National World War II Museum.

Over the course of his distinguished 50-year career, Mr.

12 unchanged sentences

Advisory Council Member

Leisha John will serve as

an ESG Advisor to the Board.

John is an ESG Advisor to the Board.

John is a CPA with 38 years of experience at EY (Ernst & Young LLP).

She served as the

first Americas Director of Environmental Sustainability from 2008 through her retirement in 2021.

In her role, she advised the EY Americas

Executive Board on Environmental, Social and Governance (ESG) matters.

as the first Americas Director of Environmental Sustainability from 2008 through her retirement in 2021.

In her role, she advised the

EY Americas Executive Board on Environmental, Social and Governance (ESG) matters.

Prior to her ESG appointment, Ms.

John was the CEO of EY’s

Global Delivery Services (shared services) center in Bangalore, India where she led the global operations from 2004-2008.

Her expertise

in operations, workforce development, transformation and multi-stakeholder engagement contributed to billions of dollars of growth

Prior to her CEO role, she served as the Director of Strategy and Innovation for EY’s US Tax practice following many years

serving EY’s audit and tax clients in various industries.

Currently, she is the Chairman of Earthwatch Institute, a global organization

that engages citizens in science to promote conservation.

John is a CPA, a LEED AP, a Competent Board ESG Certificate holder, and

serves on the Sustainable Business Advisory Council for the University of Miami.

Number, Terms of Office and Appointment of Directors and Officers

Our board of directors consists

of five members.

In accordance with Nasdaq corporate governance requirements, we are not required to hold an annual meeting until one

year after our first fiscal year end following our listing on Nasdaq.

The term of office of our directors will expire at our first annual

meeting of stockholders, subject to re-nomination and reappointment to the board by our stockholders.

Subject to any other special rights

applicable to the stockholders, any vacancies on our board of directors may be filled by the affirmative vote of a majority of the directors

present and voting at the meeting of our board of directors or by a majority of the holders of our shares of common stock (or, prior

to our initial business combination, holders of our founder shares).

Our officers are appointed

by the board of directors and serve at the discretion of the board of directors, rather than for specific terms of office.

of directors is authorized to appoint persons to the offices set forth in our amended and restated certificate of incorporation as it

deems appropriate.

Our amended and restated certificate of incorporation provides that our officers may consist of a Chairman, a Chief

Executive Officer, a President, a Chief Operating Officer, a Chief Financial Officer, Vice Presidents, a Secretary, Assistant Secretaries,

a Treasurer and such other offices as may be determined by the board of directors.

Director Independence

Nasdaq listing standards

require that a majority of our board of directors be independent.

An “ independent director ” is defined generally as

a person that, in the opinion of the company’s board of directors, has no material relationship with the listed company (either

directly or as a partner, stockholder or officer of an organization that has a relationship with the company).

John was the CEO

of EY’s Global Delivery Services (shared services) center in Bangalore, India where she led the global operations from 2004-2008.

Her expertise in operations, workforce development, transformation and multi-stakeholder engagement contributed to billions of dollars

of growth at EY.

Prior to her CEO role, she served as the Director of Strategy and Innovation for EY’s US Tax practice following

many years serving EY’s audit and tax clients in various industries.

Currently, she is the Chairman of Earthwatch Institute,

a global organization that engages citizens in science to promote conservation.

John is a CPA, a LEED AP, a Competent Board ESG Certificate

holder, and serves on the Sustainable Business Advisory Council for the University of Miami.

Terms of Office and Appointment of Directors and Officers

board of directors consists of five members.

In accordance with Nasdaq corporate governance requirements, we are not required to hold

an annual meeting until one year after our first fiscal year end following our listing on Nasdaq.

The term of office of our directors

will expire at our first annual meeting of stockholders, subject to re-nomination and reappointment to the board by our stockholders.

Subject to any other special rights applicable to the stockholders, any vacancies on our board of directors may be filled by the affirmative

vote of a majority of the directors present and voting at the meeting of our board of directors or by a majority of the holders of our

shares of common stock (or, prior to our initial business combination, holders of our founder shares).

officers are appointed by the board of directors and serve at the discretion of the board of directors, rather than for specific

terms of office.

Our board of directors is authorized to appoint persons to the offices set forth in our amended and restated

certificate of incorporation as it deems appropriate.

Our amended and restated certificate of incorporation provides that our

officers may consist of a Chairman, a Chief Executive Officer, a President, a Chief Operating Officer, a Chief Financial Officer,

Vice Presidents, a Secretary, Assistant Secretaries, a Treasurer and such other offices as may be determined by the board of

listing standards require that a majority of our board of directors be independent.

An “ independent director ” is defined

generally as a person that, in the opinion of the company’s board of directors, has no material relationship with the listed company

(either directly or as a partner, stockholder or officer of an organization that has a relationship with the company).

We have four “ independent

4 unchanged sentences

Burke is an independent director under applicable SEC and Nasdaq listing standards.

Our independent directors

have regularly scheduled meetings at which only independent directors are present.

Arrangements between Officers and Directors

To our knowledge, there

is no arrangement or understanding between our sole officer and any other person, including our sole director, pursuant to which the

officer was selected to serve as an officer.

Other Directorships

No director of the Company

is also a director of issuers with a class of securities registered under Section 12 of the Exchange Act (or which otherwise are required

to file periodic reports under the Exchange Act).

Involvement in Certain Legal Proceedings

Our officers and directors

were not involved in any of the following during the past ten years:

(1) any bankruptcy petition filed by or against any business of

which such person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time;

(2) any conviction in a criminal proceeding or being a named subject to a pending criminal proceeding (excluding traffic violations and

other minor offenses);

(3) being subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court

of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting his involvement in any type

of business, securities or banking activities;

(4) being found by a court of competent jurisdiction (in a civil action), the SEC or the

Commodities Futures Trading Commission to have violated a federal or state securities or commodities law, (5) being the subject of, or

a party to, any Federal or State judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended

or vacated, relating to an alleged violation of (i) any Federal or State securities or commodities law or regulation;

(ii) any law or

regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction,

order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition

or (iii) any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity;

or (6) being the

subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization

(as defined in Section 3(a)(26) of the Exchange Act), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange

Act), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated

with a member.

Committees of the Board of Directors

Our board of directors has

three standing committees:

an audit committee, a compensation committee and a corporate governance and nominating committee.

phase-in rules, the rules of Nasdaq and Rule 10A-3 of the Exchange Act require that the audit committee of a listed

company be comprised solely of independent directors, and the rules of Nasdaq require that the compensation committee and the nominating

and corporate governance committee of a listed company be comprised solely of independent directors.

Each committee operates under a charter

that has been approved by our board of directors and has the composition and responsibilities described below.

a majority of the members of our Board of Directors are independent as defined in the Nasdaq rules governing members of boards of directors

and as defined under Rule 10A-3 of the Exchange Act.

assessing director independence, the Board considers, among other matters, the nature and extent of any business relationships, including

transactions conducted, between the Company and each director and between the Company and any organization for which one of our directors

is a director or executive officer or with which one of our directors is otherwise affiliated.

the Board has determined that each of the members of our Audit Committee, Compensation Committee, and Corporate Governance and Nominating

Committee, is independent within the meaning of Nasdaq director independence standards applicable to members of such committees, as currently

independent directors have regularly scheduled meetings at which only independent directors are present.

between Officers and Directors

our knowledge, there is no arrangement or understanding between our sole officer and any other person, including our sole director, pursuant

to which the officer was selected to serve as an officer.

Directorships

director of the Company is also a director of issuers with a class of securities registered under Section 12 of the Exchange Act (or

which otherwise are required to file periodic reports under the Exchange Act), except as otherwise stated herein.

in Certain Legal Proceedings

officers and directors were not involved in any of the following during the past ten years:

(1) any bankruptcy petition filed by or

against any business of which such person was a general partner or executive officer either at the time of the bankruptcy or within

two years prior to that time;

(2) any conviction in a criminal proceeding or being a named subject to a pending criminal proceeding

(excluding traffic violations and other minor offenses);

(3) being subject to any order, judgment, or decree, not subsequently

reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or

otherwise limiting his involvement in any type of business, securities or banking activities;

(4) being found by a court of

competent jurisdiction (in a civil action), the SEC or the Commodities Futures Trading Commission to have violated a federal or

state securities or commodities law, (5) being the subject of, or a party to, any Federal or State judicial or administrative order,

judgment, decree, or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of (i) any Federal

or State securities or commodities law or regulation;

(ii) any law or regulation respecting financial institutions or insurance

companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money

penalty or temporary or permanent cease-and-desist order, or removal or prohibition order;

or (iii) any law or regulation

prohibiting mail or wire fraud or fraud in connection with any business entity;

or (6) being the subject of, or a party to, any

sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as defined in Section

3(a)(26) of the Exchange Act), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act), or any

equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with

Leadership Structure

Board of Directors has the responsibility for selecting our appropriate leadership structure.

In making leadership structure determinations,

the Board of Directors considers many factors, including the specific needs of our business and what is in the best interests of our

shareholders.

Our current leadership structure is comprised of a separate Chairman of the Board of Directors, and Chief Executive Officer

Rodgers currently serves as CEO and Mr.

Fox currently serves as Chairman of the Board of Directors

(“ Board ”) of the Company.

The Board of Directors does not have a policy as to whether the Chairman should be an independent

director, an affiliated director, or a member of management.

Our Board of Directors believes that the Company’s current leadership

structure is appropriate because it effectively allocates authority, responsibility, and oversight between management (the Company’s

President and CEO, Mr.

Rodgers) and the members of our Board of Directors.

It does this by giving primary responsibility for the

operational leadership and strategic direction of the Company to its CEO, while enabling our Chairman to facilitate our Board of Directors’

oversight of management, promote communication between management and our Board of Directors, and support our Board of Directors’

consideration of key governance matters.

Board of Directors believes that its programs for overseeing risk, as described below, would be effective under a variety of leadership

frameworks and therefore do not materially affect its choice of structure.

Board evaluates its structure periodically, as well as when warranted by specific circumstances, in order to assess which structure is

in the best interests of the Company and its stockholders based on the evolving needs of the Company.

This approach provides the Board

appropriate flexibility to determine the leadership structure best suited to support the dynamic demands of our business.

risk oversight is an important priority of the Board of Directors.

Because risks are considered in virtually every business decision,

the Board of Directors discusses risk throughout the year generally or in connection with specific proposed actions.

The Board of Directors’

approach to risk oversight includes understanding the critical risks in our business and strategy, evaluating our risk management processes,

allocating responsibilities for risk oversight among the full Board of Directors, and fostering an appropriate culture of integrity and

compliance with legal responsibilities.

Board exercises direct oversight of strategic risks to us.

Our Audit Committee reviews and assesses our processes to manage business

and financial risk and financial reporting risk.

It also reviews our policies for risk assessment and assesses steps management has taken

to control significant risks.

Our Compensation Committee oversees risks relating to compensation programs and policies.

management periodically reports to our Board or the relevant committee, which provides the relevant oversight on risk assessment and

The Corporate Governance and Nominating Committee recommends the slate of director nominees for election to the Company’s

Board, identifies and recommends candidates to fill vacancies occurring between annual stockholder meetings, reviews, evaluates and recommends

changes to the Company’s corporate governance guidelines, and establishes the process for conducting the review of the Chief Executive

Officer’s performance.

the Board and its committees oversee the Company’s strategy, management is charged with its day-to-day execution.

To monitor performance

against the Company’s strategy, the Board receives regular updates and actively engages in dialogue with management.

of the Board of Directors and Annual Meeting

the fiscal year that ended on December 31, 2025, the Board held one meeting and took various other actions via the unanimous written

consent of the Board of Directors and the various committees described above.

All directors attended all of the Board of Directors’

meetings and committee meetings relating to the committees on which each director served during fiscal year 2025.

Sessions of the Board of Directors

independent members of our Board of Directors meet in executive session (with no management directors or management present) from

time to time.

The executive sessions include whatever topics the independent directors deem appropriate.

of the Board of Directors

board of directors has three standing committees:

an audit committee, a compensation committee and a corporate governance and nominating

The rules of Nasdaq and Rule 10A-3 of the Exchange Act require that the audit committee of a listed company

be comprised solely of independent directors, and the rules of Nasdaq require that the compensation committee and the corporate governance

and nominating committee of a listed company be comprised solely of independent directors.

Each committee operates under a charter that

has been approved by our board of directors and has the composition and responsibilities described below.

The charter of each committee

is available on our website.

Audit Committee

We have established an audit

committee of the board of directors.

have established an audit committee of the board of directors.

The members of our audit committee are Messrs.

Flores and Fox and Ms.

Flores serves

as chair of the audit committee.

Each member of the audit

committee is financially literate and our board of directors has determined that Mr.

Flores qualifies as an “ audit committee

financial expert ” as defined in applicable SEC rules and has accounting or related financial management expertise.

We have adopted an audit

committee charter, which details the purpose and principal functions of the audit committee, including:

● assisting board oversight of (1) the integrity of our

financial statements, (2) our compliance with legal and regulatory requirements, (3) our independent auditor’s qualifications

and independence, and (4) the performance of our internal audit function and independent auditors;

● the appointment, compensation, retention, replacement, and

oversight of the work of the independent auditors and any other independent registered public accounting firm engaged by us;

● pre-approving all audit and non-audit services

to be provided by the independent auditors or any other registered public accounting firm engaged by us, and establishing pre-approval policies

and procedures;

● reviewing and discussing with the independent auditors all

relationships the auditors have with us in order to evaluate their continued independence;

● setting clear hiring policies for employees or former employees

of the independent auditors;

● setting clear policies for audit partner rotation in compliance

with applicable laws and regulations;

● obtaining and reviewing a report, at least annually, from

the independent auditors describing the independent auditor’s internal quality-control procedures and (2) any material

issues raised by the most recent internal quality-control review, or peer review, of the audit firm, or by any inquiry or investigation

by governmental or professional authorities, within the preceding five years respecting one or more independent audits carried out

by the firm and any steps taken to deal with such issues;

● meeting to review and discuss our annual audited financial

statements and quarterly financial statements with management and the independent auditor, including reviewing our specific disclosures

under “ Management’s Discussion and Analysis of Financial Condition and Results of Operations ”;

● reviewing and approving any related party transaction required

to be disclosed pursuant to Item 404 of Regulation S-K promulgated by the SEC prior to us entering into such transaction;

● reviewing with management, the independent auditors, and

our legal advisors, as appropriate, any legal, regulatory or compliance matters, including any correspondence with regulators or government

agencies and any employee complaints or published reports that raise material issues regarding our financial statements or accounting

policies and any significant changes in accounting standards or rules promulgated by the Financial Accounting Standards Board, the SEC

or other regulatory authorities.

Compensation Committee

We have established a compensation

committee of the board of directors.

Flores serves as chair of the audit committee.

member of the audit committee is financially literate and our board of directors has determined that Mr.

Flores qualifies as an

“ audit committee financial expert ” as defined in applicable SEC rules and has accounting or related financial management

have adopted an audit committee charter, which details the purpose and principal functions of the audit committee, including:

board oversight of (1) the integrity of our financial statements, (2) our compliance with legal and regulatory requirements,

(3) our independent auditor’s qualifications and independence, and (4) the performance of our internal audit function

and independent auditors;

appointment, compensation, retention, replacement, and oversight of the work of the independent auditors and any other independent registered

public accounting firm engaged by us;

● pre-approving all

audit and non-audit services to be provided by the independent auditors or any other registered public accounting firm engaged by

us, and establishing pre-approval policies and procedures;

and discussing with the independent auditors all relationships the auditors have with us in order to evaluate their continued independence;

clear hiring policies for employees or former employees of the independent auditors;

clear policies for audit partner rotation in compliance with applicable laws and regulations;

and reviewing a report, at least annually, from the independent auditors describing the independent auditor’s internal quality-control procedures

and (2) any material issues raised by the most recent internal quality-control review, or peer review, of the audit firm, or

by any inquiry or investigation by governmental or professional authorities, within the preceding five years respecting one or more

independent audits carried out by the firm and any steps taken to deal with such issues;

to review and discuss our annual audited financial statements and quarterly financial statements with management and the independent

auditor, including reviewing our specific disclosures under “ Management’s Discussion and Analysis of Financial Condition

and Results of Operations ”;

and approving any related party transaction required to be disclosed pursuant to Item 404 of Regulation S-K promulgated

by the SEC prior to us entering into such transaction;

with management, the independent auditors, and our legal advisors, as appropriate, any legal, regulatory or compliance matters, including

any correspondence with regulators or government agencies and any employee complaints or published reports that raise material issues

regarding our financial statements or accounting policies and any significant changes in accounting standards or rules promulgated by

the Financial Accounting Standards Board, the SEC or other regulatory authorities.

have established a compensation committee of the board of directors.

The members of our compensation committee are Messrs.

Fox and Wang and Ms.

serves as chair of the compensation committee.

We have adopted a compensation committee charter, which details the purpose and responsibility

of the compensation committee, including:

● reviewing and approving on an annual basis the corporate

goals and objectives relevant to our Chief Executive Officer’s compensation, evaluating our Chief Executive Officer’s performance

in light of such goals and objectives and determining and approving the remuneration (if any) of our Chief Executive Officer based on

such evaluation;

● reviewing and making recommendations to our board of directors

with respect to the compensation, and any incentive-compensation and equity-based plans that are subject to board approval

of all of our other officers;

● reviewing our executive compensation policies and plans;

● implementing and administering our incentive compensation

equity-based remuneration plans;

● assisting management in complying with our proxy statement

and annual report disclosure requirements;

● approving all special perquisites, special cash payments

and other special compensation and benefit arrangements for our officers and employees;

● producing a report on executive compensation to be included

in our annual proxy statement;

● reviewing, evaluating and recommending changes, if appropriate,

to the remuneration for directors.

The charter also provides

that the compensation committee may, in its sole discretion, retain or obtain the advice of a compensation consultant, independent legal

counsel or other adviser and will be directly responsible for the appointment, compensation and oversight of the work of any such adviser.

However, before engaging or receiving advice from a compensation consultant, external legal counsel or any other adviser, the compensation

committee will consider the independence of each such adviser, including the factors required by Nasdaq and the SEC.

Corporate Governance and Nominating Committee

We have established a corporate

governance and nominating committee of the board of directors.

The members of our corporate governance and nominating committee are Messrs.

Burke serves as chair of the compensation committee.

We have adopted a compensation committee charter, which

details the purpose and responsibility of the compensation committee, including:

and approving on an annual basis the corporate goals and objectives relevant to our Chief Executive Officer’s compensation, evaluating

our Chief Executive Officer’s performance in light of such goals and objectives and determining and approving the remuneration

(if any) of our Chief Executive Officer based on such evaluation;

and making recommendations to our board of directors with respect to the compensation, and any incentive-compensation and equity-based plans

that are subject to board approval of all of our other officers;

our executive compensation policies and plans;

● implementing

and administering our incentive compensation equity-based remuneration plans;

management in complying with our proxy statement and annual report disclosure requirements;

all special perquisites, special cash payments and other special compensation and benefit arrangements for our officers and employees;

a report on executive compensation to be included in our annual proxy statement;

evaluating and recommending changes, if appropriate, to the remuneration for directors.

charter also provides that the compensation committee may, in its sole discretion, retain or obtain the advice of a compensation

consultant, independent legal counsel or other adviser and will be directly responsible for the appointment, compensation and

oversight of the work of any such adviser.

However, before engaging or receiving advice from a compensation consultant, external

legal counsel or any other adviser, the compensation committee will consider the independence of each such adviser, including the

factors required by Nasdaq and the SEC.

Governance and Nominating Committee

have established a corporate governance and nominating committee of the board of directors.

The members of our corporate governance and

nominating committee are Messrs.

Fox and Flores and Ms.

In accordance with Rule 5605 of the Nasdaq listing rules, all such directors are independent.

serves as chair of the corporate governance and nominating committee.

The board of directors will also consider director candidates recommended

for nomination by our stockholders during such times as they are seeking proposed nominees to stand for election at the next annual meeting

of stockholders (or, if applicable, a special meeting of stockholders).

Our stockholders that wish to nominate a director for election

to our board of directors should follow the procedures set forth in our bylaws.

We have adopted a corporate

governance and nominating committee charter, which details the purpose and responsibility of the corporate governance and nominating committee,

including ensuring that the Board is properly constituted to meet its fiduciary obligations to stockholders and the Company and that the

Company has and follows appropriate corporate governance practices and standards.

We have not formally established

any specific, minimum qualifications that must be met or skills that are necessary for directors to possess.

In general, in identifying

and evaluating nominees for director, the board of directors considers educational background, diversity of professional experience, knowledge

of our business, integrity, professional reputation, independence, wisdom, and the ability to represent the best interests of our stockholders.

Code of Ethics

We have adopted a code of

ethics (our “ Code of Ethics ”) applicable to our directors, officers and employees.

We have incorporated by reference

a copy of our form of our Code of Ethics as an exhibit to this Report.

You will be able to review this document by accessing our public

filings at the SEC’s website at www.sec.gov .

In addition, a copy of our Code of Ethics will be provided without charge

upon request from us.

We intend to disclose any amendments to or waivers of certain provisions of our Code of Ethics in a Current Report

Conflicts of Interest

Our management team is responsible

for the management of our affairs.

As described above and below, each of our officers and directors presently has, and any of them in

the future may have additional, fiduciary, contractual or other obligations or duties to one or more other entities, pursuant to which

such officer or director is or will be required to present a business combination opportunity to such entities.

Accordingly, if any of

our officers or directors becomes aware of a business combination opportunity which is suitable for one or more entities to which he

or she has fiduciary, contractual or other obligations or duties, he or she will honor these obligations and duties to present such business

combination opportunity to such entities first, and only present it to us if such entities reject the opportunity and he or she determines

to present the opportunity to us.

These conflicts may not be resolved in our favor and a potential target business may be presented to

another entity prior to its presentation to us.

In addition to the above, directors also owe a duty of care, which is not fiduciary in

This duty has been defined as a requirement to act as a reasonably diligent person having both the general knowledge, skill and

experience that may reasonably be expected of a person carrying out the same functions as are carried out by that director in relation

to the company and the general knowledge, skill and experience which that director has.

As set out above, directors

have a duty not to put themselves in a position of conflict and this includes a duty not to engage in self-dealing, or to otherwise benefit

as a result of their position.

However, in some instances what would otherwise be a breach of this duty can be forgiven and/or authorized

in advance by the stockholders;

In accordance with Rule 5605 of the Nasdaq listing rules, all such

directors are independent.

Fox serves as chair of the corporate governance and nominating committee.

The board of directors

will also consider director candidates recommended for nomination by our stockholders during such times as they are seeking proposed

nominees to stand for election at the next annual meeting of stockholders (or, if applicable, a special meeting of stockholders).

stockholders that wish to nominate a director for election to our board of directors should follow the procedures set forth in our bylaws.

have adopted a corporate governance and nominating committee charter, which details the purpose and responsibility of the corporate governance

and nominating committee, including ensuring that the Board is properly constituted to meet its fiduciary obligations to stockholders

and the Company and that the Company has and follows appropriate corporate governance practices and standards.

have not formally established any specific, minimum qualifications that must be met or skills that are necessary for directors to possess.

In general, in identifying and evaluating nominees for director, the board of directors considers educational background, diversity of

professional experience, knowledge of our business, integrity, professional reputation, independence, wisdom, and the ability to represent

the best interests of our stockholders.

have adopted a code of ethics (our “ Code of Ethics ”) applicable to our directors, officers and employees.

incorporated by reference a copy of our form of our Code of Ethics as an exhibit to this Report.

You will be able to review this document

by accessing our public filings at the SEC’s website at www.sec.gov .

In addition, a copy of our Code of Ethics will be provided without charge upon request from us.

We intend to disclose any amendments

to or waivers of certain provisions of our Code of Ethics in a Current Report on Form 8-K.

management team is responsible for the management of our affairs.

As described above and below, each of our officers and directors presently

has, and any of them in the future may have additional, fiduciary, contractual or other obligations or duties to one or more other entities,

pursuant to which such officer or director is or will be required to present a business combination opportunity to such entities.

if any of our officers or directors becomes aware of a business combination opportunity which is suitable for one or more entities to

which he or she has fiduciary, contractual or other obligations or duties, he or she will honor these obligations and duties to present

such business combination opportunity to such entities first, and only present it to us if such entities reject the opportunity and he

or she determines to present the opportunity to us.

These conflicts may not be resolved in our favor and a potential target business

may be presented to another entity prior to its presentation to us.

In addition to the above, directors also owe a duty of care, which

is not fiduciary in nature.

This duty has been defined as a requirement to act as a reasonably diligent person having both the general

knowledge, skill and experience that may reasonably be expected of a person carrying out the same functions as are carried out by that

director in relation to the company and the general knowledge, skill and experience which that director has.

set out above, directors have a duty not to put themselves in a position of conflict and this includes a duty not to engage in

self-dealing, or to otherwise benefit as a result of their position.

However, in some instances what would otherwise be a breach of

this duty can be forgiven and/or authorized in advance by the stockholders;

provided that there is full disclosure by the directors.

This can be done by way of permission granted

in the amended and restated certificate of incorporation or alternatively by stockholder approval at stockholder meetings.

All of our officers have

fiduciary and contractual duties to our sponsor and to certain companies in which it has invested or to certain other entities.

the risk is partially mitigated as a result of our sponsor seeking targets of different enterprise sizes than us, if these entities decide

to pursue any such opportunity, we may be precluded from pursuing such opportunities.

None of the members of our management team who

are also employed by our sponsor or its affiliates have any obligation to present us with any opportunity for a potential business combination

of which they become aware, subject to his or her fiduciary duties under applicable law.

Our sponsor and directors and officers are also

not prohibited from sponsoring, investing or otherwise becoming involved with, any other blank check companies, including in connection

with their initial business combinations, prior to us completing our initial business combination.

Our management team, in their capacities

as directors, officers or employees of our sponsor or its affiliates or in their other endeavors, may choose to present potential business

combinations to the related entities described above, current or future entities affiliated with or managed by our sponsor, or third

parties, before they present such opportunities to us, subject to his or her fiduciary duties under applicable law and any other applicable

fiduciary duties.

Our directors and officers

presently have, and any of them in the future may have, additional, fiduciary or contractual obligations to other entities pursuant to

which such officer or director is or will be required to present a business combination opportunity to such entity.

Accordingly, if any

of our directors or officers becomes aware of a business combination opportunity that is suitable for an entity to which he or she has

then-current fiduciary or contractual obligations, he or she may need to honor these fiduciary or contractual obligations to present

such business combination opportunity to such entity, subject to his or her fiduciary duties under applicable law.

Our amended and restated

certificate of incorporation provides that we renounce our interest in any corporate opportunity offered to any director or officer unless

such opportunity is expressly offered to such person solely in his or her capacity as a director or officer of the company and it is

an opportunity that we are able to complete on a reasonable basis.

Our directors and officers are also not required to commit any specified

amount of time to our affairs, and, accordingly, will have conflicts of interest in allocating management time among various business

activities, including identifying potential business combinations and monitoring the related due diligence.

This can be done by way of permission granted in the amended and restated certificate of incorporation or alternatively by

stockholder approval at stockholder meetings.

of our officers have fiduciary and contractual duties to our sponsor and to certain companies in which it has invested or to certain

other entities.

While the risk is partially mitigated as a result of our sponsor seeking targets of different enterprise sizes than us,

if these entities decide to pursue any such opportunity, we may be precluded from pursuing such opportunities.

None of the members of

our management team who are also employed by our sponsor or its affiliates have any obligation to present us with any opportunity for

a potential business combination of which they become aware, subject to his or her fiduciary duties under applicable law.

and directors and officers are also not prohibited from sponsoring, investing or otherwise becoming involved with, any other blank check

companies, including in connection with their initial business combinations, prior to us completing our initial business combination.

Our management team, in their capacities as directors, officers or employees of our sponsor or its affiliates or in their other endeavors,

may choose to present potential business combinations to the related entities described above, current or future entities affiliated

with or managed by our sponsor, or third parties, before they present such opportunities to us, subject to his or her fiduciary duties

under applicable law and any other applicable fiduciary duties.

directors and officers presently have, and any of them in the future may have, additional, fiduciary or contractual obligations to other

entities pursuant to which such officer or director is or will be required to present a business combination opportunity to such entity.

Accordingly, if any of our directors or officers becomes aware of a business combination opportunity that is suitable for an entity to

which he or she has then-current fiduciary or contractual obligations, he or she may need to honor these fiduciary or contractual

obligations to present such business combination opportunity to such entity, subject to his or her fiduciary duties under applicable

Our amended and restated certificate of incorporation provides that we renounce our interest in any corporate opportunity offered

to any director or officer unless such opportunity is expressly offered to such person solely in his or her capacity as a director or

officer of the company and it is an opportunity that we are able to complete on a reasonable basis.

Our directors and officers are also

not required to commit any specified amount of time to our affairs, and, accordingly, will have conflicts of interest in allocating management

time among various business activities, including identifying potential business combinations and monitoring the related due diligence.

See “ Item 1A.

Factors — Certain of our directors and officers are now, and all of them may in the future become, affiliated with entities

engaged in business activities similar to those intended to be conducted by us and, accordingly, may have conflicts of interest in determining

to which entity a particular business opportunity should be presented.

We do not believe, however,

that the fiduciary duties or contractual obligations of our directors or officers will materially adversely affect our ability to identify

and pursue business combination opportunities or complete our initial business combination.

You should not rely on the historical record

of our founders’ and management’s performance as indicative of our future performance.

Risk Factors — Certain of our directors and officers are now, and all of them may in the future

become, affiliated with entities engaged in business activities similar to those intended to be conducted by us and, accordingly, may

have conflicts of interest in determining to which entity a particular business opportunity should be presented.

do not believe, however, that the fiduciary duties or contractual obligations of our directors or officers will materially adversely

affect our ability to identify and pursue business combination opportunities or complete our initial business combination.

not rely on the historical record of our founders’ and management’s performance as indicative of our future performance.

See “ Item 1A.

Risk Factors — Past

performance by our management team and their respective affiliates may not be indicative of future performance of an investment in the

Potential investors should

also be aware of the following potential conflicts of interest:

● None of our directors or officers is required to commit his

or her full time to our affairs and, accordingly, may have conflicts of interest in allocating his or her time among various business

● In the course of their other business activities, our directors

and officers may become aware of investment and business opportunities that may be appropriate for presentation to us as well as the

other entities with which they are affiliated.

Our management may have conflicts of interest in determining to which entity a particular

business opportunity should be presented.

For a complete description of our management’s other affiliations, see “ — Directors

and Officers.

● Our initial stockholders, directors and officers have agreed

to waive their redemption rights with respect to any founder shares and public shares held by them in connection with the consummation

Risk Factors — Past performance by our management team and their respective affiliates may not

be indicative of future performance of an investment in the company.

investors should also be aware of the following potential conflicts of interest:

of our directors or officers is required to commit his or her full time to our affairs and, accordingly, may have conflicts of interest

in allocating his or her time among various business activities.

the course of their other business activities, our directors and officers may become aware of investment and business opportunities that

may be appropriate for presentation to us as well as the other entities with which they are affiliated.

Our management may have conflicts

of interest in determining to which entity a particular business opportunity should be presented.

For a complete description of our management’s

other affiliations, see “ — Directors and Officers.

initial stockholders, directors and officers have agreed to waive their redemption rights with respect to any founder shares and public

shares held by them in connection with the consummation of our initial business combination.

Additionally, our initial stockholders have

agreed to waive their redemption rights with respect to their founder shares if we fail to consummate our initial business combination

within 18 months after the closing of our IPO (or up to 24 months from the closing of our IPO if we extend the period of time

to consummate a business combination, as described in more detail in this Report) or during any Extension Period.

However, if our initial

stockholders or any of our directors, officers or affiliates acquire public shares, they will be entitled to liquidating distributions

from the trust account with respect to such public shares if we fail to consummate our initial business combination within the prescribed

If we do not complete our initial business combination within such applicable time period, the proceeds of the sale of the

private placement units held in the trust account will be used to fund the redemption of our public shares, and the private placement

units will expire worthless.

With certain limited exceptions, the founder shares will not be transferable, assignable or salable by our

initial stockholders until the earlier of:

(1) one year after the completion of our initial business combination;

and (2) subsequent

to our initial business combination (x) if the last reported sale price of shares of our common stock equals or exceeds $12.00 per

share (as adjusted for stock splits, stock dividends, rights issuances, consolidations, reorganizations, recapitalizations and other

similar transactions) for any 20 trading days within any 30-trading day period commencing at least 150 days after our

initial business combination or (y) the date on which we complete a liquidation, merger, capital stock exchange, reorganization

or other similar transaction that results in all of our public stockholders having the right to exchange their shares of common stock

for cash, securities or other property.

With certain limited exceptions, the private placement units and the shares of common stock underlying

such private placement units, will not be transferable, assignable or salable by our sponsor until 30 days after the completion

of our initial business combination.

Additionally, our initial stockholders have agreed to waive their redemption rights with respect

to their founder shares if we fail to consummate our initial business combination within 18 months after the closing of our IPO

(or up to 24 months from the closing of our IPO if we extend the period of time to consummate a business combination, as described

in more detail in this Report) or during any Extension Period.

However, if our initial stockholders or any of our directors, officers

or affiliates acquire public shares, they will be entitled to liquidating distributions from the trust account with respect to such public

shares if we fail to consummate our initial business combination within the prescribed time frame.

If we do not complete our initial

business combination within such applicable time period, the proceeds of the sale of the private placement units held in the trust account

will be used to fund the redemption of our public shares, and the private placement units will expire worthless.

With certain limited

exceptions, the founder shares will not be transferable, assignable or salable by our initial stockholders until the earlier of:

year after the completion of our initial business combination;

and (2) subsequent to our initial business combination (x) if

the last reported sale price of shares of our common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends,

rights issuances, consolidations, reorganizations, recapitalizations and other similar transactions) for any 20 trading days within

any 30-trading day period commencing at least 150 days after our initial business combination or (y) the date on which

we complete a liquidation, merger, capital stock exchange, reorganization or other similar transaction that results in all of our public

stockholders having the right to exchange their shares of common stock for cash, securities or other property.

With certain limited exceptions,

the private placement units and the shares of common stock underlying such private placement units, will not be transferable, assignable

or salable by our sponsor until 30 days after the completion of our initial business combination.

Since our sponsor and directors

and officers may directly or indirectly own shares of common stock, warrants and rights following the date of this Report, our directors

and officers may have a conflict of interest in determining whether a particular target business is an appropriate business with which

to effectuate our initial business combination.

● Our directors and officers may negotiate employment or consulting

agreements with a target business in connection with a particular business combination.

These agreements may provide for them to receive

compensation following our initial business combination and as a result, may cause them to have conflicts of interest in determining

whether to proceed with a particular business combination.

● Our directors and officers may have a conflict of interest

with respect to evaluating a particular business combination if the retention or resignation of any such directors and officers was included

by a target business as a condition to any agreement with respect to our initial business combination.

The conflicts described

above may not be resolved in our favor.

Accordingly, as a result

of multiple business affiliations, our directors and officers have similar legal obligations relating to presenting business opportunities

meeting the above-listed criteria to multiple entities.

Below is a table summarizing the entities to which our directors and officers

currently have fiduciary duties or contractual obligations:

Since our sponsor and directors and officers may directly or indirectly own shares of common stock,

warrants and rights following the date of this Report, our directors and officers may have a conflict of interest in determining whether

a particular target business is an appropriate business with which to effectuate our initial business combination.

directors and officers may negotiate employment or consulting agreements with a target business in connection with a particular business

These agreements may provide for them to receive compensation following our initial business combination and as a result,

may cause them to have conflicts of interest in determining whether to proceed with a particular business combination.

directors and officers may have a conflict of interest with respect to evaluating a particular business combination if the retention

or resignation of any such directors and officers was included by a target business as a condition to any agreement with respect to our

initial business combination.

conflicts described above may not be resolved in our favor.

as a result of multiple business affiliations, our directors and officers have similar legal obligations relating to presenting business

opportunities meeting the above-listed criteria to multiple entities.

Below is a table summarizing the entities to which our directors

and officers currently have fiduciary duties or contractual obligations:

Electric Reliability Council of Texas

Electric Coop

Veriten Holdings, LLC

Advisory Director

Windy Cove Energy II, LLC

CEO and Director

Pure Earth Plasma Holdings, LLC

Brady Rodgers

Antelope Energy Partners, LLC

Executive Vice President and General Counsel

Accordingly, if any of the

above directors or officers become aware of a business combination opportunity which is suitable for any of the above entities to which

he or she has then-current fiduciary or contractual obligations, he or she will honor his or her fiduciary or contractual obligations

to present such business combination opportunity to such entity, and only present it to us if such entity rejects the opportunity, subject

to his or her fiduciary duties under applicable law.

Our amended and restated certificate of incorporation provides that we renounce

our interest in any corporate opportunity offered to any director or officer unless such opportunity is expressly offered to such person

solely in his or her capacity as a director or officer of the company and it is an opportunity that we are able to complete on a reasonable

We do not believe, however, that any of the foregoing fiduciary duties or contractual obligations will materially adversely affect

our ability to identify and pursue business combination opportunities or complete our initial business combination.

We are not prohibited from

pursuing an initial business combination with a company that is affiliated with our sponsor, directors or officers.

In the event we seek

to complete our initial business combination with such a company, we, or a committee of independent and disinterested directors, would

obtain an opinion from an independent investment banking firm or another valuation or appraisal firm that regularly renders fairness

opinions on the type of target business we are seeking to acquire that such an initial business combination is fair to our company from

a financial point of view.

In addition, our sponsor

or any of its affiliates may make additional investments in the company in connection with the initial business combination, although

our sponsor and its affiliates have no obligation or current intention to do so.

If our sponsor or any of its affiliates elects to make

additional investments, such proposed investments could influence our sponsor’s motivation to complete an initial business combination.

In the event that we submit

our initial business combination to our public stockholders for a vote, our initial stockholders, directors and officers have agreed,

pursuant to the terms of a letter agreement entered into with us, to vote any founder shares (and their respective permitted transferees

will agree) and public shares held by them in favor of our initial business combination.

Limitation on Liability and Indemnification of Directors and Officers

Our amended and restated

certificate of incorporation provides that our officers and directors will be indemnified by us to the fullest extent authorized by Delaware

law, as it now exists or may in the future be amended.

In addition, our amended and restated certificate of incorporation provides that

our directors and officers will not be personally liable for monetary damages to us or stockholders for breaches of their fiduciary duty

as directors, except to the extent such exemption from liability or limitation thereof is not permitted by DGCL.

We will enter into agreements

with our officers and directors to provide contractual indemnification in addition to the indemnification provided for in our amended

and restated certificate of incorporation.

Our bylaws also permit us to maintain insurance on behalf of any officer, director or employee

for any liability arising out of his or her actions, regardless of whether Delaware law would permit such indemnification.

We have obtained

a policy of directors’ and officers’ liability insurance that insures our officers and directors against the cost of defense,

settlement or payment of a judgment in some circumstances and insures us against our obligations to indemnify our officers and directors.

These provisions may discourage

stockholders from bringing a lawsuit against our directors for breach of their fiduciary duty.

These provisions also may have the effect

of reducing the likelihood of derivative litigation against directors and officers, even though such an action, if successful, might

otherwise benefit us and our stockholders.

Furthermore, a stockholder’s investment may be adversely affected to the extent we pay

the costs of settlement and damage awards against officers and directors pursuant to these indemnification provisions.

We believe that these provisions,

the insurance and the indemnity agreements are necessary to attract and retain talented and experienced officers and directors.

Notwithstanding the above,

insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling

us pursuant to the foregoing provisions, we have been informed that in the opinion of the SEC such indemnification is against public

policy as expressed in the Securities Act and is therefore unenforceable.

Stockholder Communications with the Board

A stockholder who wishes

to communicate with our Board of Directors may do so by directing a written request addressed to our Secretary, 1334 Brittmoore

Rd, Suite 190, Houston Texas 77043, who, upon receipt of any communication other than one that is clearly marked “ Confidential, ”

will note the date the communication was received, open the communication, make a copy of it for our files and promptly forward the communication

to the director(s) to whom it is addressed.

Upon receipt of any communication that is clearly marked “ Confidential, ”

our Secretary will not open the communication, but will note the date the communication was received and promptly forward the communication

to the director(s) to whom it is addressed.

Policy on Equity Ownership

The Company does not have

a policy on equity ownership at this time.

Insider Trading/Policy Against Hedging

The Company adopted an insider

trading policy in March 2025 which governs the purchase, sale and other dispositions of the Company’s securities that applies to

all Company personnel, including directors, officers, employees, and other covered persons.

The Company also plans to follow procedures

for the repurchase of any shares of its securities.

The Company believes that its insider trading policy and planned repurchase procedures

are reasonably designed to promote compliance with insider trading laws, rules and regulations, and listing standards applicable to the

A copy of the Company’s insider trading policy is filed as Exhibit 19.1 to this Annual Report on Form 10-K.

Policy on Timing of Equity Grants

The Board has not established

policies and practices (whether written or otherwise) regarding the timing of option grants or other awards in relation to the release

of material nonpublic information (“ MNPI ”) and does not plan to take MNPI into account when determining the timing

and terms of stock option or other equity awards to executive officers.

The Company does not time the disclosure of MNPI, whether

positive or negative, for the purpose of affecting the value of executive compensation.

Compensation Recovery and Clawback Policies

The Company Board of Directors

adopted a clawback policy on November 20, 2024 (the “ Clawback Policy ”), with an effective date of November 20, 2024,

in order to comply with the final clawback rules adopted by the SEC under Section 10D and Rule 10D-1 of the Exchange Act (“Rule

10D-1”), and the listing standards, as set forth in the Nasdaq Listing Rule 5608 (the “Final Clawback Rules”).

The Clawback Policy provides

for the mandatory recovery of erroneously awarded incentive-based compensation from current and former executive officers as defined

in Rule 10D-1 (“ Covered Officers ”) of the Company in the event that the Company is required to prepare an accounting

restatement, in accordance with the Final Clawback Rules.

The recovery of such compensation applies regardless of whether a Covered Officer

engaged in misconduct or otherwise caused or contributed to the requirement of an accounting restatement.

Under the Clawback Policy,

the Board of Directors may recoup from the Covered Officers erroneously awarded incentive compensation received within a lookback period

of the three completed fiscal years preceding the date on which the Company is required to prepare an accounting restatement.

Delinquent Section 16(a) Reports

Section 16(a) of the Exchange

Act requires our executive officers and directors and persons who beneficially own more than 10% of our common stock to file reports

of their ownership of, and transactions in, our common stock with the SEC and to furnish us with copies of the reports they file.

solely upon our review of the Section 16(a) filings that have been furnished to us, we believe that all required Section 16(a) were timely

filed during fiscal 2024, except that Mark Mathews, our General Counsel, failed to timely file his Form 3 initial statement of beneficial

ownership of securities.

Holdings, LLC

Cove Energy II, LLC

Earth Plasma Holdings, LLC

Energy Partners, LLC

if any of the above directors or officers become aware of a business combination opportunity which is suitable for any of the above

entities to which he or she has then-current fiduciary or contractual obligations, he or she will honor his or her fiduciary or

contractual obligations to present such business combination opportunity to such entity, and only present it to us if such entity

rejects the opportunity, subject to his or her fiduciary duties under applicable law.

Our amended and restated certificate of

incorporation provides that we renounce our interest in any corporate opportunity offered to any director or officer unless such

opportunity is expressly offered to such person solely in his or her capacity as a director or officer of the company and it is an

opportunity that we are able to complete on a reasonable basis.

We do not believe, however, that any of the foregoing fiduciary

duties or contractual obligations will materially adversely affect our ability to identify and pursue business combination

opportunities or complete our initial business combination.

are not prohibited from pursuing an initial business combination with a company that is affiliated with our sponsor, directors or officers.

In the event we seek to complete our initial business combination with such a company, we, or a committee of independent and disinterested

directors, would obtain an opinion from an independent investment banking firm or another valuation or appraisal firm that regularly

renders fairness opinions on the type of target business we are seeking to acquire that such an initial business combination is fair

to our company from a financial point of view.

addition, our sponsor or any of its affiliates may make additional investments in the company in connection with the initial business

combination, although our sponsor and its affiliates have no obligation or current intention to do so.

If our sponsor or any of its affiliates

elects to make additional investments, such proposed investments could influence our sponsor’s motivation to complete an initial

business combination.

the event that we submit our initial business combination to our public stockholders for a vote, our initial stockholders, directors

and officers have agreed, pursuant to the terms of a letter agreement entered into with us, to vote any founder shares (and their respective

permitted transferees will agree) and public shares held by them in favor of our initial business combination.

on Liability and Indemnification of Directors and Officers

amended and restated certificate of incorporation provides that our officers and directors will be indemnified by us to the fullest extent

authorized by Delaware law, as it now exists or may in the future be amended.

In addition, our amended and restated certificate of incorporation

provides that our directors and officers will not be personally liable for monetary damages to us or stockholders for breaches of their

fiduciary duty as directors, except to the extent such exemption from liability or limitation thereof is not permitted by DGCL.

will enter into agreements with our officers and directors to provide contractual indemnification in addition to the indemnification

provided for in our amended and restated certificate of incorporation.

Our bylaws also permit us to maintain insurance on behalf of any

officer, director or employee for any liability arising out of his or her actions, regardless of whether Delaware law would permit such

indemnification.

We have obtained a policy of directors’ and officers’ liability insurance that insures our officers and

directors against the cost of defense, settlement or payment of a judgment in some circumstances and insures us against our obligations

to indemnify our officers and directors.

provisions may discourage stockholders from bringing a lawsuit against our directors for breach of their fiduciary duty.

These provisions

also may have the effect of reducing the likelihood of derivative litigation against directors and officers, even though such an action,

if successful, might otherwise benefit us and our stockholders.

Furthermore, a stockholder’s investment may be adversely affected

to the extent we pay the costs of settlement and damage awards against officers and directors pursuant to these indemnification provisions.

believe that these provisions, the insurance and the indemnity agreements are necessary to attract and retain talented and experienced

officers and directors.

Notwithstanding

the above, insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or

persons controlling us pursuant to the foregoing provisions, we have been informed that in the opinion of the SEC such

indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

Communications with the Board

stockholder who wishes to communicate with our Board of Directors may do so by directing a written request addressed to our

Secretary, 1334 Brittmoore Rd, Suite 190, Houston Texas 77043, who, upon receipt of any communication other than one that is clearly

marked “ Confidential, ” will note the date the communication was received, open the communication, make a copy of it

for our files and promptly forward the communication to the director(s) to whom it is addressed.

Upon receipt of any communication that

is clearly marked “ Confidential, ” our Secretary will not open the communication, but will note the date the communication

was received and promptly forward the communication to the director(s) to whom it is addressed.

on Equity Ownership

Company does not have a policy on equity ownership at this time.

Trading/Policy Against Hedging

Company adopted an insider trading policy in March 2025 which governs the purchase, sale and other dispositions of the Company’s

securities that applies to all Company personnel, including directors, officers, employees, and other covered persons.

The Company also

plans to follow procedures for the repurchase of any shares of its securities.

The Company believes that its insider trading policy and

planned repurchase procedures are reasonably designed to promote compliance with insider trading laws, rules and regulations, and listing

standards applicable to the Company.

A copy of the Company’s insider trading policy is incorporated by reference herein as Exhibit

on Timing of Equity Grants

Board has not established policies and practices (whether written or otherwise) regarding the timing of option grants or other awards

in relation to the release of material nonpublic information (“ MNPI ”) and does not plan to take MNPI into account

when determining the timing and terms of stock option or other equity awards to executive officers.

The Company does not time the

disclosure of MNPI, whether positive or negative, for the purpose of affecting the value of executive compensation.

Recovery and Clawback Policies

Company Board of Directors adopted a clawback policy on November 20, 2024 (the “ Clawback Policy ”), with an effective

date of November 20, 2024, in order to comply with the final clawback rules adopted by the SEC under Section 10D and Rule 10D-1 of the

Exchange Act (“Rule 10D-1”), and the listing standards, as set forth in the Nasdaq Listing Rule 5608 (the “Final Clawback

Clawback Policy provides for the mandatory recovery of erroneously awarded incentive-based compensation from current and former executive

officers as defined in Rule 10D-1 (“ Covered Officers ”) of the Company in the event that the Company is required to

prepare an accounting restatement, in accordance with the Final Clawback Rules.

The recovery of such compensation applies regardless

of whether a Covered Officer engaged in misconduct or otherwise caused or contributed to the requirement of an accounting restatement.

Under the Clawback Policy, the Board of Directors may recoup from the Covered Officers erroneously awarded incentive compensation received

within a lookback period of the three completed fiscal years preceding the date on which the Company is required to prepare an accounting

Section 16(a) Reports

16(a) of the Exchange Act requires our executive officers and directors and persons who beneficially own more than 10% of our common

stock to file reports of their ownership of, and transactions in, our common stock with the SEC and to furnish us with copies of the

reports they file.

Based solely upon our review of the Section 16(a) filings that have been furnished to us, we believe that all

required Section 16(a) filings were timely filed during fiscal 2025, except that CO2 Energy Transition, LLC, our sponsor, failed to

timely disclose one transaction, and as a result, one Form 4 was not timely filed.

EXECUTIVE COMPENSATION

Executive Officer and Director Compensation

None of our officers has

received any cash compensation for services rendered to us.

Commencing on the date of the IPO, we agreed to pay CO2 Energy Transition,

LLC, a Delaware limited liability company, our sponsor, a total of $10,000 per month for office space, utilities and secretarial and

administrative support.

Upon completion of our initial business combination or our liquidation, we will cease paying these monthly fees.

No compensation of any kind, including any finder’s fee, reimbursement, consulting fee or monies in respect of any payment of a

loan, will be paid by us to our sponsor, officers or directors or any affiliate of our sponsor, officers or directors, prior to, or in

connection with any services rendered in order to effectuate, the consummation of our initial business combination (regardless of the

type of transaction that it is).

Officer and Director Compensation

of our officers has received any cash compensation for services rendered to us.

Commencing on the date of the IPO, we agreed to pay CO2

Energy Transition, LLC, a Delaware limited liability company, our sponsor, a total of $10,000 per month for office space, utilities and

secretarial and administrative support.

Upon completion of our initial business combination or our liquidation, we will cease paying

these monthly fees.

No compensation of any kind, including any finder’s fee, reimbursement, consulting fee or monies in respect

of any payment of a loan, will be paid by us to our sponsor, officers or directors or any affiliate of our sponsor, officers or directors,

prior to, or in connection with any services rendered in order to effectuate, the consummation of our initial business combination (regardless

of the type of transaction that it is).

However, these individuals will be reimbursed for any out-of-pocket expenses incurred in connection

5 unchanged sentences

an initial business combination.

After the completion of

our initial business combination, directors or members of our management team who remain with us may be paid consulting or management

fees from the combined company.

All of these fees will be fully disclosed to stockholders, to the extent then known, in the tender offer

materials or proxy solicitation materials furnished to our stockholders in connection with a proposed initial business combination.

have not established any limit on the amount of such fees that may be paid by the combined company to our directors or members of management.

It is unlikely the amount of such compensation will be known at the time of the proposed initial business combination, because the directors

of the post-combination business will be responsible for determining officer and director compensation.

Any compensation to be paid to

our officers will be determined, or recommended to the board of directors for determination, either by a compensation committee constituted

solely by independent directors or by a majority of the independent directors on our board of directors.

We do not intend to take

any action to ensure that members of our management team maintain their positions with us after the consummation of our initial business

combination, although it is possible that some or all of our officers and directors may negotiate employment or consulting arrangements

to remain with us after our initial business combination.

The existence or terms of any such employment or consulting arrangements to

retain their positions with us may influence our management’s motivation in identifying or selecting a target business but we do

not believe that the ability of our management to remain with us after the consummation of our initial business combination will be a

determining factor in our decision to proceed with any potential business combination.

We are not party to any agreements with our officers

and directors that provide for benefits upon termination of employment.

Employment Agreements;

Outstanding Equity

Key Man Insurance

Employment Agreements

The Company does not have

any employment agreements in place with any of its executive officers.

Outstanding Equity Awards at Fiscal Year-End

grant any stock options to its executive officers or directors during the year ended December 31, 2024;

(ii) did not have any outstanding

unvested equity awards as of December 31, 2024;

and (iii) had no options exercised by its Named Executive Officers in the fiscal year

ended December 31, 2024.

the completion of our initial business combination, directors or members of our management team who remain with us may be paid consulting

or management fees from the combined company.

All of these fees will be fully disclosed to stockholders, to the extent then known, in

the tender offer materials or proxy solicitation materials furnished to our stockholders in connection with a proposed initial business

We have not established any limit on the amount of such fees that may be paid by the combined company to our directors or

members of management.

It is unlikely the amount of such compensation will be known at the time of the proposed initial business combination,

because the directors of the post-combination business will be responsible for determining officer and director compensation.

Any compensation

to be paid to our officers will be determined, or recommended to the board of directors for determination, either by a compensation committee

constituted solely by independent directors or by a majority of the independent directors on our board of directors.

do not intend to take any action to ensure that members of our management team maintain their positions with us after the consummation

of our initial business combination, although it is possible that some or all of our officers and directors may negotiate employment

or consulting arrangements to remain with us after our initial business combination.

The existence or terms of any such employment or

consulting arrangements to retain their positions with us may influence our management’s motivation in identifying or selecting

a target business but we do not believe that the ability of our management to remain with us after the consummation of our initial business

combination will be a determining factor in our decision to proceed with any potential business combination.

We are not party to any

agreements with our officers and directors that provide for benefits upon termination of employment.

Outstanding Equity Awards;

Key Man Insurance

The Company does not hold

“ Key Man ” life insurance on any of its officers or directors.

Compensation Of Directors

Directors who are not employees

of the Company do not receive any fees for meetings that they attend, but they are entitled to reimbursement for reasonable expenses

incurred while attending such meetings.

In 2024, no compensation was paid to the Company’s directors for their services.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL

OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

Principal Stockholders

The following table presents

certain information regarding the beneficial ownership of all shares of common stock as of March 19, 2025 by (i) each

person who owns beneficially more than five percent (5%) of the outstanding shares of common stock based on 9,585,750 shares outstanding

as of March 19, 2025, (ii) each of our directors, (iii) each named executive officer, and (iv) all directors and officers

Company does not have any employment agreements in place with any of its executive officers.

Equity Awards at Fiscal Year-End

(i) did not grant any stock options to its executive officers or directors during the year ended December 31, 2025;

not have any outstanding unvested equity awards as of December 31, 2025;

and (iii) had no options exercised by its Named Executive Officers

in the fiscal year ended December 31, 2025.

Man Insurance

Company does not hold “ Key Man ” life insurance on any of its officers or directors.

who are not employees of the Company do not receive any fees for meetings that they attend, but they are entitled to reimbursement for

reasonable expenses incurred while attending such meetings.

In 2025, no compensation was paid to the Company’s directors for their

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

following table presents certain information regarding the beneficial ownership of all shares of common stock as of March 13, 2026 by

(i) each person who owns beneficially more than five percent (5%) of the outstanding shares of common stock based on 9,585,750 shares

outstanding as of March 13, 2026, (ii) each of our directors, (iii) each named executive officer, and (iv) all directors and officers

Except as otherwise indicated, all shares are owned directly.

Beneficial ownership is determined

in accordance with the rules of the Securities and Exchange Commission and includes voting and/or investing power with respect to securities.

We believe that, except as otherwise noted and subject to applicable community property laws, each person named in the following table

has sole investment and voting power with respect to the shares of common stock shown as beneficially owned by such person.

Additionally,

shares of common stock subject to options, warrants or other convertible securities that are currently exercisable or convertible, or

exercisable or convertible within 60 days of March 19, 2025, are deemed to be outstanding and to be beneficially owned

by the person or group holding such options, warrants or other convertible securities for the purpose of computing the percentage ownership

of such person or group, but are not treated as outstanding for the purpose of computing the percentage ownership of any other person

We believe that, except as

otherwise noted and subject to applicable community property laws, each person named in the following table has sole investment and voting

power with respect to the shares of common stock shown as beneficially owned by such person.

Unless otherwise indicated, the address for

each of the officers or directors listed in the table below is 1334 Brittmoore Rd, Suite 190, Houston, Texas 77043.

and Address of Beneficial Owner (1)

ownership is determined in accordance with the rules of the Securities and Exchange Commission and includes voting and/or investing

power with respect to securities.

We believe that, except as otherwise noted and subject to applicable community property laws, each

person named in the following table has sole investment and voting power with respect to the shares of common stock shown as

beneficially owned by such person.

Additionally, shares of common stock subject to options, warrants or other convertible securities

that are currently exercisable or convertible, or exercisable or convertible within 60 days of March 13, 2026, are deemed to

be outstanding and to be beneficially owned by the person or group holding such options, warrants or other convertible securities

for the purpose of computing the percentage ownership of such person or group, but are not treated as outstanding for the purpose of

computing the percentage ownership of any other person or group.

believe that, except as otherwise noted and subject to applicable community property laws, each person named in the following table has

sole investment and voting power with respect to the shares of common stock shown as beneficially owned by such person.

Unless otherwise

indicated, the address for each of the officers or directors listed in the table below is 1334 Brittmoore Rd., Suite 190, Houston, Texas

Name and Address of Beneficial Owner (1)

Percentage of

3 unchanged sentences

Mike Lessard (1)

Mark Mathews (1)

Marcella Burke (1)

James Wang (1)

All Directors and Executive Officers as a Group (8

All Directors and Executive Officers as a Group (7 persons)

Greater than 5% Stockholders

CO2 Energy Transition, LLC (1)

Kerry Propper and Antonio Ruiz-Gimenez (2)

2,830,000 (2)

Mizuho Financial Group, Inc.

Karpus Management, Inc.

MMCAP International Inc.

AQR Capital Management Holdings, LLC (6)

Aristeia Capital, L.L.C.

MMCAP International Inc.

Ramya Rao (6)

* less than 1%

(1) Each of our officers, directors is, directly or indirectly,

a member of our sponsor or have direct or indirect economic interests in our sponsor, and each of them disclaims any beneficial ownership

of any shares held by our sponsor except to the extent of his or her ultimate pecuniary interest.

The shares held by our sponsor are

beneficially owned by Andrew J.

Barclays PLC (8)

of our officers, directors is, directly or indirectly, a member of our sponsor or have direct or indirect economic interests in our sponsor,

and each of them disclaims any beneficial ownership of any shares held by our sponsor except to the extent of his or her ultimate pecuniary

The shares held by our sponsor are beneficially owned by Andrew J.

Martin, Charles E.

1 unchanged sentence

1334 Brittmoore Rd., Suite 190, Houston, Texas 77043.

1 Pennsylvania Plaza, 48 th Floor New York, New

The shares are held by (1) one or more private funds managed by ATW SPAC Management LLC (“ATW SPAC”), which has

been delegated exclusive authority to vote and/or direct the disposition of certain shares and (2) a private fund, SZOP Multistrat LP,

managed by SZOP Multistrat Management LLC (“SZOP”).

SZOP and ATW SPAC are registered investment advisers whose managing members

are Kerry Propper and Antonio Ruiz-Gimenez .

All information comes from the Schedule 13G which the stockholder filed with the Securities

and Exchange Commission on February 14, 2025.

265,000 shares of common stock of the Company issuable upon the exercise of 265,000 private placement warrants.

Each warrant is exercisable

to purchase one share of common stock at $11.50 per share, subject to adjustment, and became exercisable beginning 30 days after the

completion of the Company’s initial business combination (November 22, 2025) and expires five years after the completion of the

Company initial business combination or earlier upon redemption or liquidation.

Excludes 265,000 rights.

Each eight rights entitle the

holder thereof to receive one share of common stock at the closing of the Company’s initial business combination.

Also excludes

1,173 warrants to purchase shares of common stock of the Company and 1,173 rights (with the same terms of the warrants and rights discussed

above), issuable upon conversion of an outstanding convertible promissory note, which are convertible at the option of the holder thereof

(CO2 Energy Transition LLC) only upon the closing of the Company’s initial business combination.

1-5-5, Otemachi, Chiyoda-ku, Tokyo, 100-8176, Japan .

Mizuho Financial Group, Inc., Mizuho Bank, Ltd.

and Mizuho Americas LLC may be

deemed to be indirect beneficial owners of said equity securities directly held by Mizuho Securities USA LLC, which is their wholly-owned

All information comes from the Schedule 13G which the stockholder filed with the Securities and Exchange Commission on August

183 Sully's Trail, Pittsford, New York 14534.

Karpus Management, Inc., d/b/a Karpus Investment Management (“Karpus”) is a

registered investment adviser under Section 203 of the Investment Advisers Act of 1940.

Karpus is controlled by City of London Investment

Group plc (“CLIG”), which is listed on the London Stock Exchange.

However, in accordance with SEC Release No.

34-39538 (January

12, 1998), effective informational barriers have been established between Karpus and CLIG such that voting and investment power over

the subject securities is exercised by Karpus independently of CLIG, and, accordingly, attribution of beneficial ownership is not required

between Karpus and CLIG.

The shares reported owned by Karpus are owned directly by the accounts managed by Karpus.

All information comes

from the Schedule 13G which the stockholder filed with the Securities and Exchange Commission on May 14, 2025.

c/o Mourant Governance Services (Cayman) Limited, 94 Solaris Avenue, Camana Bay, P.O.

Box 1348, Grand Cayman, KY1-1108, Cayman Islands

(MMCAP) and 161 Bay Street, TD Canada Trust Tower, Suite 2240, Toronto, ON, M5J 2S1, Canada (MM Asset).

MMCAP International Inc.

(“ MMCAP ”) and MM Asset Management Inc.

(“ MM Asset ”) share voting and dispositive control over the

All information comes from the Schedule 13G/A which the stockholder filed with the Securities and Exchange Commission on August

One Greenwich Plaza, Suite 130, Greenwich, Connecticut, 06830.

The shares are beneficially owned by AQR Capital Management, LLC, AQR Capital Management Holdings, LLC and AQR Arbitrage, LLC.

All information

comes from the Schedule 13G which the stockholder filed with the Securities and Exchange Commission on February 14, 2025.

The shares are beneficially owned by AQR Capital Management, LLC, AQR

Capital Management Holdings, LLC and AQR Arbitrage, LLC.

All information comes from the Schedule 13G which the stockholder filed with

the Securities and Exchange Commission on February 14, 2025.

One Greenwich Plaza, Suite 300 Greenwich, CT 06830.

All information

comes from the Schedule 13G which the stockholder filed with the Securities and Exchange Commission on February 14, 2025.

c/o Mourant Governance Services (Cayman) Limited, 94 Solaris

Avenue, Camana Bay, P.O.

Box 1348, Grand Cayman, KY1-1108, Cayman Islands (MMCAP) and 161 Bay Street, TD Canada Trust Tower, Suite 2240,

Toronto, ON, M5J 2S1, Canada (MM Asset).

MMCAP International Inc.

SPC (“ MMCAP ”) and MM Asset Management Inc.

Asset ”) share voting and dispositive control over the shares.

All information comes from the Schedule 13G/A which the stockholder

filed with the Securities and Exchange Commission on February 10, 2025.

All information comes from the Schedule 13G which the stockholder filed with the

Securities and Exchange Commission on February 14, 2025.

1 Churchill Place, London - E14 5HP.

All information comes

from the Schedule 13G/A which the stockholder filed with the Securities and Exchange Commission on February 7, 2025.

Our initial stockholder, our

sponsor, beneficially owns 26.8% of the issued and outstanding shares of common stock.

Because of its ownership block, our initial stockholder

may be able to effectively influence the outcome of all other matters requiring approval by our stockholders, including amendments to

our amended and restated certificate of incorporation and approval of significant corporate transactions.

Our sponsor and our directors

and officers are deemed to be our “ promoters ” as such term is defined under the federal securities laws.

Certain Relations and Related Transactions and Director Independence ” for additional information regarding our relationships

with our promoters.

Transfers of Founder Shares and Private Placement Units

The founder shares, private

placement units and any shares of our common stock issued upon conversion or exercise of the private warrants and rights included in the

private placement units are each subject to transfer restrictions pursuant to lock-up provisions in the letter agreement with us

to be entered into by our initial stockholders, directors and officers Those lock-up provisions provide that such securities are

not transferable or salable (1) in the case of the founder shares, until the earlier of:

(A) one year after the completion of

our initial business combination;

and (B) subsequent to our initial business combination (x) if the last reported sale price

of shares of our common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, rights issuances, consolidations,

reorganizations, recapitalizations and other similar transactions) for any 20 trading days within any 30-trading day period

commencing at least 150 days after our initial business combination or (y) the date on which we complete a liquidation, merger,

capital stock exchange, reorganization or other similar transaction that results in all of our public stockholders having the right to

exchange their shares of common stock for cash, securities or other property, and (2) in the case of the private placement units

and the respective shares of our common stock underlying such units, until 30 days after the completion of our initial business combination,

except in each case (a) to our directors or officers, any affiliates or family members of any of our directors or officers, any members

of our sponsor, or any affiliates of our sponsor, (b) in the case of an individual, by gift to a member of the individual’s

immediate family or to a trust, the beneficiary of which is a member of the individual’s immediate family or an affiliate of such

person, or to a charitable organization;

of the individual;

(d) in the case of an individual, pursuant to a qualified domestic relations order;

(e) by private sales

or transfers made in connection with the consummation of a business combination at prices no greater than the price at which the securities

were originally purchased;

(f) in the event of our liquidation prior to our completion of our initial business combination;

the case of an entity, by virtue of the laws of its jurisdiction or its organizational documents or operating agreement;

the event of our completion of a liquidation, merger, capital stock exchange, reorganization or other similar transaction which results

in all of our stockholders having the right to exchange their shares of our common stock for cash, securities or other property subsequent

to our completion of our initial business combination;

provided, however, that in the case of clauses (a) through (e) these

permitted transferees must enter into a written agreement agreeing to be bound by these transfer restrictions.

Registration Rights

The holders of the founder

shares, private placement units and any units that may be issued on conversion of working capital loans up to $1,500,000 (and any shares

of our common stock issuable upon the exercise of the warrants included in the private placement units or units issued upon conversion

of the working capital loans) are, and will be, entitled to registration rights pursuant to a registration rights agreement requiring

us to register such securities for resale.

In addition, our initial stockholders and their permitted transferees will be entitled to make

up to three demands, excluding short form registration demands, that we register such securities.

Notwithstanding the foregoing, the Company

shall use its best efforts to file a registration statement within 30 days of our business combination to register such securities.

In addition, the holders have certain “ piggy-back ” registration rights with respect to registration statements filed

subsequent to our completion of our initial business combination and rights to require us to register for resale such securities pursuant

to Rule 415 under the Securities Act.

However, the registration rights agreement provides that we will not be required to effect

or permit any registration or cause any registration statement to become effective until termination of the applicable lock-up period

as described under “ — Transfers of Founder Shares and Private Placement Units.

” We will bear the expenses

incurred in connection with the filing of any such registration statements.

Change of Control

The Company is not aware of

any arrangements which may at a subsequent date result in a change of control of the Company.

Securities Authorized for Issuance under Equity

Compensation Table

As of December 31, 2024, we

had no compensation plans (including individual compensation arrangements) under which equity securities were authorized for issuance.

CERTAIN RELATIONSHIPS AND RELATED

TRANSACTIONS AND DIRECTOR INDEPENDENCE

Except as discussed below,

or otherwise disclosed above under “ Executive Compensation ”, there have been no transactions since January 1, 2023,

and there is not currently any proposed transaction, in which the Company was or is to be a participant, where the amount involved exceeds

the lesser of $120,000 or one percent of the average of the Company’s total assets at year-end, for the last two completed fiscal

years, and in which any officer, director, or any stockholder owning greater than five percent (5%) of our outstanding voting shares,

nor any member of the above:

On January 8, 2022, the sponsor

issued an unsecured promissory note to the Company (the “Promissory Note”), pursuant to which the Company could borrow up

to an aggregate principal amount of $400,000.

On February 15, 2023, the Company amended the Promissory Note’s principal amount from

$400,000 to $450,000.

On April 20, 2024, the Company further amended the Promissory Note’s principal amount from $450,000 to $800,000.

The Promissory Note was non-interest bearing and payable on the earlier of (i) December 31, 2025 or (ii) the consummation of the Initial

Public Offering.

All information comes from the Schedule 13G which the stockholder filed with the Securities and

Exchange Commission on May 13, 2025.

initial stockholder, our sponsor, beneficially owns 28.7% of the issued and outstanding shares of common stock.

Because of its ownership

block, our initial stockholder may be able to effectively influence the outcome of all other matters requiring approval by our stockholders,

including amendments to our amended and restated certificate of incorporation and approval of significant corporate transactions.

sponsor and our directors and officers are deemed to be our “ promoters ” as such term is defined under the federal

securities laws.

See “ Item 13.

Certain Relations and Related Transactions and Director Independence ” for additional

information regarding our relationships with our promoters.

of Founder Shares and Private Placement Units

founder shares, private placement units and any shares of our common stock issued upon conversion or exercise of the private warrants

and rights included in the private placement units are each subject to transfer restrictions pursuant to lock-up provisions in the

letter agreement with us to be entered into by our initial stockholders, directors and officers Those lock-up provisions provide

that such securities are not transferable or salable (1) in the case of the founder shares, until the earlier of:

after the completion of our initial business combination;

and (B) subsequent to our initial business combination (x) if the

last reported sale price of shares of our common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends,

rights issuances, consolidations, reorganizations, recapitalizations and other similar transactions) for any 20 trading days within

any 30-trading day period commencing at least 150 days after our initial business combination or (y) the date on which

we complete a liquidation, merger, capital stock exchange, reorganization or other similar transaction that results in all of our public

stockholders having the right to exchange their shares of common stock for cash, securities or other property, and (2) in the case

of the private placement units and the respective shares of our common stock underlying such units, until 30 days after the completion

of our initial business combination, except in each case (a) to our directors or officers, any affiliates or family members of any

of our directors or officers, any members of our sponsor, or any affiliates of our sponsor, (b) in the case of an individual, by

gift to a member of the individual’s immediate family or to a trust, the beneficiary of which is a member of the individual’s

immediate family or an affiliate of such person, or to a charitable organization;

laws of descent and distribution upon death of the individual;

(d) in the case of an individual, pursuant to a qualified domestic

relations order;

(e) by private sales or transfers made in connection with the consummation of a business combination at prices

no greater than the price at which the securities were originally purchased;

(f) in the event of our liquidation prior to our completion

of our initial business combination;

(g) in the case of an entity, by virtue of the laws of its jurisdiction or its organizational

documents or operating agreement;

or (h) in the event of our completion of a liquidation, merger, capital stock exchange, reorganization

or other similar transaction which results in all of our stockholders having the right to exchange their shares of our common stock for

cash, securities or other property subsequent to our completion of our initial business combination;

provided, however, that in the case

of clauses (a) through (e) these permitted transferees must enter into a written agreement agreeing to be bound by these transfer

restrictions.

holders of the founder shares, private placement units and any units that may be issued on conversion of working capital loans up to

$1,500,000 (and any shares of our common stock issuable upon the exercise of the warrants included in the private placement units or

units issued upon conversion of the working capital loans) are, and will be, entitled to registration rights pursuant to a registration

rights agreement requiring us to register such securities for resale.

In addition, our initial stockholders and their permitted transferees

will be entitled to make up to three demands, excluding short form registration demands, that we register such securities.

Notwithstanding

the foregoing, the Company shall use its best efforts to file a registration statement within 30 days of our business combination

to register such securities.

In addition, the holders have certain “ piggy-back ” registration rights with respect to

registration statements filed subsequent to our completion of our initial business combination and rights to require us to register for

resale such securities pursuant to Rule 415 under the Securities Act.

However, the registration rights agreement provides that we

will not be required to effect or permit any registration or cause any registration statement to become effective until termination of

the applicable lock-up period as described under “ — Transfers of Founder Shares and Private Placement Units.

We will bear the expenses incurred in connection with the filing of any such registration statements.

Company is not aware of any arrangements which may at a subsequent date result in a change of control of the Company.

Authorized for Issuance under Equity Compensation Table

of December 31, 2025, we had no compensation plans (including individual compensation arrangements) under which equity securities were

authorized for issuance.

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE

as discussed below, or otherwise disclosed above under “ Executive Compensation ”, there have been no transactions since

January 1, 2024, and there is not currently any proposed transaction, in which the Company was or is to be a participant, where the amount

involved exceeds the lesser of $120,000 or one percent of the average of the Company’s total assets at year-end, for the last two

completed fiscal years, and in which any officer, director, or any stockholder owning greater than five percent (5%) of our outstanding

voting shares, nor any member of the above:

January 8, 2022, the sponsor issued an unsecured promissory note to the Company (the “ Promissory Note ”), pursuant

to which the Company could borrow up to an aggregate principal amount of $400,000.

On February 15, 2023, the Company amended the Promissory

Note’s principal amount from $400,000 to $450,000.

On April 20, 2024, the Company further amended the Promissory Note’s principal

amount from $450,000 to $800,000.

The Promissory Note was non-interest bearing and payable on the earlier of (i) December 31, 2025 or

(ii) the consummation of the Initial Public Offering.

As of December 31, 2023, there was $432,880, outstanding under the Promissory Note.

On November 22, 2024, upon the closing

of the Initial Public Officer, the Company repaid the note and borrowings with the exception of $11,730 which remains outstanding under

the note as of December 31, 2024.

On January 13, 2022, our

sponsor purchased 3,593,750 founder shares for an aggregate purchase price of $25,000.

In connection with a reduction in the size of the

offering, the subscription agreement was amended and restated on October 10, 2022, on December 28, 2022, and on December 1,

2023 to provide that the founder shares would amount to 2,300,000.

Up to 300,000 founder shares were subject to forfeiture by our sponsor

depending on the extent to which the underwriters’ over-allotment option is exercised;

however, because the full over-allotment

was exercised in connection with our IPO, no founder shares were forfeited.

Simultaneously with the closing

of the Initial Public Offering on November 22, 2024, the sponsor purchased an aggregate of 265,000 private placement units at a price

of $10.00 per private placement unit, for an aggregate purchase price of $2,650,000 in a private placement.

Each private placement unit

consists of one private share, one private right and one redeemable private warrant.

Each private right entitles the holder thereof to

receive one-eighth (1/8) of one share of common stock upon the consummation of our initial business combination.

Each whole private warrant

is exercisable for one share of common stock at a price of $11.50 per share, subject to adjustment.

The proceeds from the sale of the

private placement units were added to the net proceeds from the Initial Public Offering held in the trust account.

If the Company does

not complete an initial business combination within 18 months (or up to 24 months from the closing of our IPO if we extend the period

of time to consummate a business combination, as described in more detail in this Report) from the closing of our IPO or during any extended

time that we have to consummate a business combination beyond 18 months (or up to 24 months if the period of time in which we have to

complete an initial business combination is extended in accordance with the procedures set forth in this Report) or as a result of a stockholder

vote to amend our certificate of incorporation (although they will be entitled to liquidating distributions from the trust account with

respect to any public shares they hold if we fail to complete our initial business combination within the prescribed time frame), the

proceeds from the sale of the private placement units held in the trust account will be used to fund the redemption of the public shares

(subject to the requirements of applicable law) and the private placement units and all underlying securities will expire worthless.

The private placement units (including the shares

of our common stock issuable upon exercise of the private placement warrants) may not, subject to certain limited exceptions, be transferred,

assigned or sold by it until 30 days after the completion of our initial business combination.

Our initial stockholders holding

founder shares, directors and officers have entered into a letter agreement with us dated November 20, 2024, pursuant to which they have

agreed to waive:

(1) their redemption rights with respect to any founder shares and public shares held by them, as applicable, in connection

with the completion of our initial business combination;

(2) their redemption rights with respect to any founder shares and public shares

held by them in connection with a stockholder vote to amend our amended and restated certificate of incorporation (A) to modify the substance

or timing of our obligation to allow redemption in connection with our initial business combination or to redeem 100% of our public shares

if we do not complete our initial business combination within 18 months from the closing of the IPO (May 22, 2026)(or up to 24 months

from the closing of our IPO (November 22, 2026) if we extend the period of time to consummate a business combination, as described in

more detail in this Report) or (B) with respect to any other provision relating to stockholders’ rights or pre-initial business

combination activity;

and (3) their rights to liquidating distributions from the trust account with respect to any founder shares they

hold if we fail to complete our initial business combination within 18 months (or up to 24 months from the closing of our IPO if we extend

the period of time to consummate a business combination, as described in more detail in this Report) from the closing of our IPO or during

any extended time that we have to consummate a business combination beyond 18 months (or up to 24 months if the period of time in which

we have to complete an initial business combination is extended in accordance with the procedures set forth in this Report) or as a result

of a stockholder vote to amend our certificate of incorporation (although they will be entitled to liquidating distributions from the

trust account with respect to any public shares they hold if we fail to complete our initial business combination within the prescribed

Notwithstanding that such shares

are already registered, the Company agreed to use its best efforts to file a registration statement within 30 days of the business

combination to register certain securities for sale under the Securities Act.

These holders, and holders of units issued upon conversion

of working capital loans, if any, are entitled under the registration rights agreement to make up to three demands that we register certain

of our securities held by them for sale under the Securities Act and to have the securities covered thereby registered for resale pursuant

to Rule 415 under the Securities Act.

In addition, these holders have the right to include their securities in other registration

statements filed by us.

However, the registration rights agreement provides that we will not be required to effect or permit any registration

or cause any registration statement to become effective until the securities covered thereby are released from their lock-up restrictions,

as described herein.

On November 22, 2024, upon the closing of the Initial Public Officer, the Company repaid the note and borrowings with the exception of

$11,730 which remains outstanding under the note as of December 31, 2025, and has been included in the Working Capital Note discussed

Simultaneously

with the closing of the Initial Public Offering on November 22, 2024, the sponsor purchased an aggregate of 265,000 private

placement units at a price of $10.00 per private placement unit, for an aggregate purchase price of $2,650,000 in a private

Each private placement unit consists of one private share, one private right and one redeemable private warrant.

private right entitles the holder thereof to receive one-eighth (1/8) of one share of common stock upon the consummation of our

initial business combination.

Each whole private warrant is exercisable for one share of common stock at a price of $11.50 per

share, subject to adjustment.

The proceeds from the sale of the private placement units were added to the net proceeds from the

Initial Public Offering held in the trust account.

If the Company does not complete an initial business combination within 18 months

(or up to 24 months from the closing of our IPO if we extend the period of time to consummate a business combination, as described

in more detail in this Report) from the closing of our IPO or during any extended time that we have to consummate a business

combination beyond 18 months (or up to 24 months if the period of time in which we have to complete an initial business combination

is extended in accordance with the procedures set forth in this Report) or as a result of a stockholder vote to amend our

certificate of incorporation (although they will be entitled to liquidating distributions from the trust account with respect to any

public shares they hold if we fail to complete our initial business combination within the prescribed time frame), the proceeds from

the sale of the private placement units held in the trust account will be used to fund the redemption of the public shares (subject

to the requirements of applicable law) and the private placement units and all underlying securities will expire

private placement units (including the shares of our common stock issuable upon exercise of the private placement warrants) may not,

subject to certain limited exceptions, be transferred, assigned or sold by it until 30 days after the completion of our initial

business combination.

initial stockholders holding founder shares, directors and officers have entered into a letter agreement with us dated November 20, 2024,

pursuant to which they have agreed to waive:

(1) their redemption rights with respect to any founder shares and public shares held by

them, as applicable, in connection with the completion of our initial business combination;

(2) their redemption rights with respect

to any founder shares and public shares held by them in connection with a stockholder vote to amend our amended and restated certificate

of incorporation (A) to modify the substance or timing of our obligation to allow redemption in connection with our initial business

combination or to redeem 100% of our public shares if we do not complete our initial business combination within 18 months from the closing

of the IPO (May 22, 2026)(or up to 24 months from the closing of our IPO (November 22, 2026) if we extend the period of time to consummate

a business combination, as described in more detail in this Report) or (B) with respect to any other provision relating to stockholders’

rights or pre-initial business combination activity;

and (3) their rights to liquidating distributions from the trust account with respect

to any founder shares they hold if we fail to complete our initial business combination within 18 months (or up to 24 months from the

closing of our IPO if we extend the period of time to consummate a business combination, as described in more detail in this Report)

from the closing of our IPO or during any extended time that we have to consummate a business combination beyond 18 months (or up to

24 months if the period of time in which we have to complete an initial business combination is extended in accordance with the procedures

set forth in this Report) or as a result of a stockholder vote to amend our certificate of incorporation (although they will be entitled

to liquidating distributions from the trust account with respect to any public shares they hold if we fail to complete our initial business

combination within the prescribed time frame).

Notwithstanding

that such shares are already registered, the Company agreed to use its best efforts to file a registration statement within 30 days

of the business combination to register certain securities for sale under the Securities Act.

These holders, and holders of units issued

upon conversion of working capital loans, if any, are entitled under the registration rights agreement to make up to three demands that

we register certain of our securities held by them for sale under the Securities Act and to have the securities covered thereby registered

for resale pursuant to Rule 415 under the Securities Act.

In addition, these holders have the right to include their securities

in other registration statements filed by us.

However, the registration rights agreement provides that we will not be required to effect

or permit any registration or cause any registration statement to become effective until the securities covered thereby are released

from their lock-up restrictions, as described herein.

We will bear the costs and expenses of filing any such registration statements.

See “ Item 12.

Security Ownership

of Certain Beneficial Owners and Management and Related Stockholder Matters—Principal Stockholders— Registration Rights .”

As more fully discussed in

Directors, Executive Officers, and Corporate Governance—Conflicts of Interest, ” if any of our directors

or officers becomes aware of a business combination opportunity that falls within the line of business of any entity to which he or she

has then-current fiduciary or contractual obligations, he or she may be required to present such business combination opportunity

to such entity prior to presenting such business combination opportunity to us.

Our directors and officers currently have certain relevant

fiduciary duties or contractual obligations that may take priority over their duties to us.

The Company entered into an

administration agreement with the sponsor, commencing on November 12, 2024, through the earlier of consummation of the initial business

combination and the Company’s liquidation, to pay the sponsor $10,000 per month for office space, utilities, secretarial support

and other administrative and consulting services.

As of December 31, 2024, the Company had incurred $3,667 of administrative services

fees which was included in accrued expenses line in the accompanying balance sheet.

Our sponsor, directors and

officers, or any of their respective affiliates, will be reimbursed for any out- of-pocket expenses incurred in connection with activities

on our behalf such as identifying potential target businesses and performing due diligence on suitable business combinations.

committee will review on a quarterly basis all payments that were made to our sponsor, directors, officers or our or any of their respective

affiliates and will determine which expenses and the amount of expenses that will be reimbursed.

There is no cap or ceiling on the reimbursement

of out-of-pocket expenses incurred by such persons in connection with activities on our behalf.

In order to finance transaction

costs in connection with an initial business combination, the sponsor or an affiliate of the sponsor, or certain of the Company’s

officers and directors may, but are not obligated to, loan the Company funds as may be required.

If the Company completes an initial business

combination, the Company would repay the Working Capital Loans out of the proceeds of the trust account released to the Company.

the Working Capital Loans would be repaid only out of funds held outside the trust account.

In the event that an initial business combination

does not close, the Company may use a portion of proceeds held outside the trust account to repay the Working Capital Loans, but no proceeds

held in the trust account would be used to repay the Working Capital Loans.

Except for the foregoing, the terms of such Working Capital

Loans, if any, have not been determined and no written agreements exist with respect to such loans.

The Working Capital Loans would either

be repaid upon consummation of an initial business combination, without interest, or, at the lender’s discretion, up to $1,500,000

of such Working Capital Loans may be convertible into units at a price of $10.00 per unit.

The units would be identical to the private

placement units.

As of December 31, 2024 and December 31, 2023, no such Working Capital Loans were outstanding.

After our initial business

combination, members of our management team who remain with us may be paid consulting, management or other fees from the combined company

with any and all amounts being fully disclosed to our stockholders, to the extent then known, in the tender offer or proxy solicitation

materials, as applicable, furnished to our stockholders.

It is unlikely the amount of such compensation will be known at the time of distribution

of such tender offer materials or at the time of a stockholder meeting held to consider our initial business combination, as applicable,

as it will be up to the directors of the post- combination business to determine executive officer and director compensation.

We have entered into a registration

rights agreement with respect to the founder shares, private placement units and units issued upon conversion of working capital loans

(if any), which is described under the heading “ Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related

Stockholder Matters—Principal Stockholders— Registration Rights.

Related Party Policy

Our Code of Ethics, requires

us to avoid, wherever possible, all conflicts of interests, except under guidelines or resolutions approved by our board of directors

(or the appropriate committee of our board of directors) or as disclosed in our public filings with the SEC.

Under our Code of Ethics,

conflict of interest situations will include any financial transaction, arrangement or relationship (including any indebtedness or guarantee

of indebtedness) involving the company.

In addition, our audit committee

charter provides that the audit committee will be responsible for reviewing and approving related party transactions to the extent that

we enter into such transactions.

An affirmative vote of a majority of the members of the audit committee present at a meeting at which

a quorum is present will be required in order to approve a related party transaction.

A majority of the members of the entire audit committee

will constitute a quorum.

Without a meeting, the unanimous written consent of all of the members of the audit committee will be required

to approve a related party transaction.

Our audit committee will review on a quarterly basis all payments that were made by us to our

sponsor, directors or officers, or our or any of their respective affiliates.

These procedures are intended

to determine whether any such related party transaction impairs the independence of a director or presents a conflict of interest on the

part of a director, employee or officer.

To further minimize conflicts

of interest, we have agreed not to consummate an initial business combination with an entity that is affiliated with any of our sponsor,

directors or officers unless we, or a committee of independent and disinterested directors, have obtained an opinion from an independent

investment banking firm or another valuation or appraisal firm that regularly renders fairness opinions on the type of target business

we are seeking to acquire that our initial business combination is fair to our company from a financial point of view.

Furthermore, there

will be no finder’s fees, reimbursements or cash payments made by us to our sponsor, directors or officers, or our or any of their

respective affiliates, for services rendered to us prior to or in connection with the completion of our initial business combination,

other than the following payments, none of which will be made from the proceeds of our IPO and the sale of the private placement units

held in the trust account prior to the completion of our initial business combination:

● repayment of an aggregate of up to $800,000 under the amended

promissory note made to us by our sponsor to cover offering- related and organizational expenses;

● reimbursement for any out-of-pocket expenses related

to identifying, investigating and completing an initial business combination;

● repayment of loans which may be made by our sponsor or an

affiliate of our sponsor or certain of our directors and officers to fund working capital deficiencies or finance transaction costs in

connection with an intended initial business combination, the terms of which have not been determined nor have any written agreements

been executed with respect thereto.

Up to $1,500,000 of such loans may be convertible into units, at a price of $10.00 per unit at the

option of the lender.

The above payments may be funded

using the net proceeds of our IPO and the sale of the private placement units not held in the trust account or, upon completion of the

initial business combination, from any amounts remaining from the proceeds of the trust account released to us in connection therewith.

Indemnification Agreements

We have entered into indemnification

agreements with each of our directors and officers.

The indemnification agreements and our amended and restated certificate of incorporation

and bylaws require us to indemnify our directors and officers to the fullest extent permitted by Delaware law.

Director Independence

Nasdaq listing standards require

that a majority of our board of directors be independent.

An “independent director” is defined generally as a person other

than an officer or employee of the company or its subsidiaries or any other individual having a relationship which in the opinion of the

company’s board of directors, would interfere with the director’s exercise of independent judgment in carrying out the responsibilities

of a director.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters—Principal

Stockholders— Registration Rights .”

more fully discussed in “ Item 10.

Directors, Executive Officers, and Corporate Governance—Conflicts of

Interest, ” if any of our directors or officers becomes aware of a business combination opportunity that falls within the

line of business of any entity to which he or she has then-current fiduciary or contractual obligations, he or she may be

required to present such business combination opportunity to such entity prior to presenting such business combination opportunity

Our directors and officers currently have certain relevant fiduciary duties or contractual obligations that may take priority

over their duties to us.

Company entered into an administration agreement with the sponsor, commencing on November 12, 2024, through the earlier of consummation

of the initial business combination and the Company’s liquidation, to pay the sponsor $10,000 per month for office space, utilities,

secretarial support and other administrative and consulting services.

For the year ended December 31, 2025, the Company had incurred

and paid $120,000 of administrative services fees.

For the year ended December 31, 2024, the Company had incurred and paid $3,667 of

administrative services fees.

The administrative services fees are included in General and administrative costs in the Company’s

statements of operations.

sponsor, directors and officers, or any of their respective affiliates, will be reimbursed for any out- of-pocket expenses incurred

in connection with activities on our behalf such as identifying potential target businesses and performing due diligence on suitable

business combinations.

Our audit committee will review on a quarterly basis all payments that were made to our sponsor, directors, officers

or our or any of their respective affiliates and will determine which expenses and the amount of expenses that will be reimbursed.

is no cap or ceiling on the reimbursement of out-of-pocket expenses incurred by such persons in connection with activities on our

order to finance transaction costs in connection with an initial business combination, the sponsor or an affiliate of the sponsor, or

certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required.

Company completes an initial business combination, the Company would repay the Working Capital Loans out of the proceeds of the trust

account released to the Company.

Otherwise, the Working Capital Loans would be repaid only out of funds held outside the trust account.

In the event that an initial business combination does not close, the Company may use a portion of proceeds held outside the trust account

to repay the Working Capital Loans, but no proceeds held in the trust account would be used to repay the Working Capital Loans.

for the foregoing, the terms of such Working Capital Loans, if any, have not been determined and no written agreements exist with respect

to such loans.

The Working Capital Loans would either be repaid upon consummation of an initial business combination, without interest,

or, at the lender’s discretion, up to $1,500,000 of such Working Capital Loans may be convertible into units at a price of $10.00

The units would be identical to the private placement units.

As of December 31, 2025, no such Working Capital Loans were outstanding.

April 15, 2025, the Company entered into a convertible promissory note dated March 31, 2025 (the “ Working Capital Note ”)

with its sponsor.

Pursuant to the Working Capital Note, the Company may request, and in the sole discretion of the sponsor, the sponsor

may loan the Company, drawdowns of up to an aggregate $1,500,000 in principal from time to time, less $11,730 which was advanced prior

to the execution of the Working Capital Note, and included as outstanding thereunder, with such amounts to be used for working capital.

owed under the Working Capital Note do not accrue interest and are payable on the earlier of:

(i) the effective date of the consummation

of the Company’s Business Combination;

or (ii) the date that the winding up of the Company is effective (such date, as applicable,

the “ Maturity Date ”), unless accelerated upon the occurrence of an Event of Default (as defined in the Working Capital

outstanding under the Working Capital Note, are convertible, at the option of the sponsor, into units of the Company (“ Working

Capital Note Units ”), at a conversion price of $10.00 per Working Capital Note Unit.

The Working Capital Note Units will be

identical to the Private Units issued to the sponsor at the time of the Company’s Initial Public Offering.

of December 31, 2025 and 2024, $11,730 and $0, respectively, was outstanding under the Working Capital Note.

our initial business combination, members of our management team who remain with us may be paid consulting, management or other fees

from the combined company with any and all amounts being fully disclosed to our stockholders, to the extent then known, in the

tender offer or proxy solicitation materials, as applicable, furnished to our stockholders.

It is unlikely the amount of such

compensation will be known at the time of distribution of such tender offer materials or at the time of a stockholder meeting held

to consider our initial business combination, as applicable, as it will be up to the directors of the post-combination business to

determine executive officer and director compensation.

have entered into a registration rights agreement with respect to the founder shares, private placement units and units issued upon conversion

of working capital loans (if any), which is described under the heading “ Item 12.

Security Ownership of Certain Beneficial Owners

and Management and Related Stockholder Matters—Principal Stockholders— Registration Rights.

Code of Ethics, requires us to avoid, wherever possible, all conflicts of interests, except under guidelines or resolutions approved

by our board of directors (or the appropriate committee of our board of directors) or as disclosed in our public filings with the SEC.

our Code of Ethics, conflict of interest situations will include any financial transaction, arrangement or relationship (including any

indebtedness or guarantee of indebtedness) involving the company.

addition, our audit committee charter provides that the audit committee will be responsible for reviewing and approving related party

transactions to the extent that we enter into such transactions.

An affirmative vote of a majority of the members of the audit committee

present at a meeting at which a quorum is present will be required in order to approve a related party transaction.

A majority of the

members of the entire audit committee will constitute a quorum.

Without a meeting, the unanimous written consent of all of the members

of the audit committee will be required to approve a related party transaction.

Our audit committee will review on a quarterly basis

all payments that were made by us to our sponsor, directors or officers, or our or any of their respective affiliates.

procedures are intended to determine whether any such related party transaction impairs the independence of a director or presents a

conflict of interest on the part of a director, employee or officer.

further minimize conflicts of interest, we have agreed not to consummate an initial business combination with an entity that is affiliated

with any of our sponsor, directors or officers unless we, or a committee of independent and disinterested directors, have obtained an

opinion from an independent investment banking firm or another valuation or appraisal firm that regularly renders fairness opinions on

the type of target business we are seeking to acquire that our initial business combination is fair to our company from a financial point

Furthermore, there will be no finder’s fees, reimbursements or cash payments made by us to our sponsor, directors or officers,

or our or any of their respective affiliates, for services rendered to us prior to or in connection with the completion of our initial

business combination, other than the following payments, none of which will be made from the proceeds of our IPO and the sale of the

private placement units held in the trust account prior to the completion of our initial business combination:

of an aggregate of up to $800,000 under the amended promissory note made to us by our sponsor to cover offering- related and organizational

● reimbursement

for any out-of-pocket expenses related to identifying, investigating and completing an initial business combination;

of loans which may be made by our sponsor or an affiliate of our sponsor or certain of our directors and officers to fund working capital

deficiencies or finance transaction costs in connection with an intended initial business combination, the terms of which have not been

determined, nor have any written agreements been executed with respect thereto.

Up to $1,500,000 of such loans may be convertible into

units, at a price of $10.00 per unit at the option of the lender.

above payments may be funded using the net proceeds of our IPO and the sale of the private placement units not held in the trust account

or, upon completion of the initial business combination, from any amounts remaining from the proceeds of the trust account released to

us in connection therewith.

Indemnification

have entered into indemnification agreements with each of our directors and officers.

The indemnification agreements and our amended

and restated certificate of incorporation and bylaws require us to indemnify our directors and officers to the fullest extent permitted

by Delaware law.

listing standards require that a majority of our board of directors be independent.

An “independent director” is defined

generally as a person other than an officer or employee of the company or its subsidiaries or any other individual having a relationship

which in the opinion of the company’s board of directors, would interfere with the director’s exercise of independent judgment

in carrying out the responsibilities of a director.

Our board of directors has determined that all of our directors, other than Mr.

Rodgers are “independent directors”

as defined in the Nasdaq listing standards and applicable SEC rules.

Our independent directors will have regularly scheduled meetings

at which only independent directors are present.

are “independent directors” as defined in the Nasdaq listing standards and applicable SEC rules.

Our independent directors

will have regularly scheduled meetings at which only independent directors are present.

PRINCIPAL ACCOUNTING FEES AND SERVICES

WithumSmith+Brown, PC, or Withum,

acts as our independent registered public accounting firm.

The following is a summary of fees paid to Withum for services rendered.

year ended December 31, 2024 and 2023, fees were approximately $86,000 and $19,000, for the services Withum performed in connection

with our initial public offering, review of the financial information included in our Quarterly Reports on Form 10-Q for the respective

periods and the audit of our December 31, 2024 and 2023 financial statements included in this Annual Report.

Audit-Related Fees.

the year ended December 31, 2024 and 2023, Withum did not render assurance and related services related to the performance of the

audit or review of financial statements.

ended December 31, 2024 and 2023, no fees were paid to Withum for services rendered to us for tax compliance, tax advice and tax

All Other Fees .

the year ended December 31, 2024 and 2023, Withum did not render any services to us other than those set forth above.

Pre-Approval Policy

Our audit committee was formed

in connection with the effectiveness of our registration statement for our initial public offering.

As a result, the audit committee did

not pre-approve all of the foregoing services, although any services rendered prior to the formation of our audit committee were approved

by our board of directors.

Since the formation of our audit committee, and on a going-forward basis, the audit committee has and will

pre-approve all audit services and permitted non-audit services to be performed for us by our auditors, including the fees and terms thereof

(subject to the de minimis exceptions for non-audit services described in the Exchange Act which are approved by the

audit committee prior to the completion of the audit).

WithumSmith+Brown,

PC, or Withum, acts as our independent registered public accounting firm.

The following is a summary of fees paid to Withum for services

rendered during 2025 and 2024.

For the year ended December 31, 2025 and 2024, fees were approximately $102,000 and $86,000, for the services Withum performed

in connection with our initial public offering, review of the financial information included in our Quarterly Reports on Form 10-Q for

the respective periods and the audit of our December 31, 2025 and 2024 financial statements included in this Annual Report.

Audit-Related

For the year ended December 31, 2025 and 2024, no fees were paid to Withum for audit-related services.

For the year ended December 31, 2025 and 2024, no fees were paid to Withum for services rendered to us for tax compliance,

tax advice and tax planning.

For the year ended December 31, 2025 and 2024, Withum did not render any services to us other than those set forth

audit committee was formed in connection with the effectiveness of our registration statement for our initial public offering.

the audit committee did not pre-approve all of the foregoing services, although any services rendered prior to the formation of our audit

committee were approved by our board of directors.

Since the formation of our audit committee, and on a going-forward basis, the audit

committee has and will pre-approve all audit services and permitted non-audit services to be performed for us by our auditors, including

the fees and terms thereof (subject to the de minimis exceptions for non-audit services described in the Exchange Act

which are approved by the audit committee prior to the completion of the audit).

EXHIBITS, FINANCIAL STATEMENT SCHEDULES

(a) Documents filed as part of this Annual

Financial Statements

The financial statements and notes are included

herein under “ Part II ”-“ Item 8.

(a) Documents

filed as part of this Annual Report:

(1) Financial

The financial statements and notes are

included herein under “ Part II ”-“ Item 8.

Financial Statements and Supplementary Data ”.

CO2 ENERGY TRANSITION CORP.

TABLE OF CONTENTS TO FINANCIAL STATEMENTS

ENERGY TRANSITION CORP.

OF CONTENTS TO FINANCIAL STATEMENTS

Index to Financial Statements

5 unchanged sentences

Notes to Financial Statements

(2) Financial Statement Schedules

All schedules are omitted

because they are inapplicable or not required or the required information is shown in the financial statements or notes thereto.

(3) Exhibits required by Item 601 of Regulation S-K

Description of Exhibit

Underwriting Agreement, dated November 20, 2024 by and between the Company and Kingswood Capital Partners, LLC, as representative of the underwriters listed on Schedule A thereto (filed as Exhibit 1.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 25, 2024, and incorporated herein by reference)(File No.

Certificate of Incorporation (filed as Exhibit 3.1 to the Company’s Form S-1/A Registration Statement (Amendment No.

1), filed with the Securities and Exchange Commission on March 17, 2023, and incorporated herein by reference)(File No.

Certificate of Amendment to Certificate of Incorporation, filed with the Secretary of State on December 15, 2021 (filed as Exhibit 3.2 to the Company’s Form S-1/A Registration Statement (Amendment No.

1), filed with the Securities and Exchange Commission on March 17, 2023, and incorporated herein by reference)(File No.

Amended & Restated Certificate of Incorporation of the Company (filed as Exhibit 3.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 25, 2024, and incorporated herein by reference)(File No.

Bylaws of CO2 Energy Transitions Corp.

(2) Financial

Statement Schedules

schedules are omitted because they are inapplicable or not required or the required information is shown in the financial statements

or notes thereto.

required by Item 601 of Regulation S-K

Agreement, dated November 20, 2024 by and between the Company and Kingswood Capital Partners, LLC, as representative of the underwriters

listed on Schedule A thereto (filed as Exhibit 1.1 to the Company’s Current Report on Form 8-K filed with the Securities and

Exchange Commission on November 25, 2024, and incorporated herein by reference)(File No.

of Incorporation (filed as Exhibit 3.1 to the Company’s Form S-1/A Registration Statement (Amendment No.

1), filed with the

Securities and Exchange Commission on March 17, 2023, and incorporated herein by reference)(File No.

of Amendment to Certificate of Incorporation, filed with the Secretary of State on December 15, 2021 (filed as Exhibit 3.2 to the

Company’s Form S-1/A Registration Statement (Amendment No.

1), filed with the Securities and Exchange Commission on March 17,

2023, and incorporated herein by reference)(File No.

& Restated Certificate of Incorporation of the Company (filed as Exhibit 3.1 to the Company’s Current Report on Form 8-K

filed with the Securities and Exchange Commission on November 25, 2024, and incorporated herein by reference)(File No.

of CO2 Energy Transitions Corp.

(filed as Exhibit 3.4 to the Company’s Form S-1/A Registration Statement (Amendment No.

filed with the Securities and Exchange Commission on March 17, 2023, and incorporated herein by reference)(File No.

Warrant Agreement, dated November 20, 2024, by and between the Company and Continental Stock Transfer & Trust Company, LLC (filed as Exhibit 4.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 25, 2024, and incorporated herein by reference)(File No.

Rights Agreement, dated November 20, 2024, by and between the Company and Continental Stock Transfer & Trust Company, LLC (filed as Exhibit 4.2 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 25, 2024, and incorporated herein by reference)(File No.

Description of Registrant’s Securities

Promissory Note, dated April 20, 2024, issued to CO2 Energy Transfer, LLC (filed as Exhibit 10.1 to the Company’s Form S-1/A Registration Statement (Amendment No.

5), filed with the Securities and Exchange Commission on May 3, 2023, and incorporated herein by reference)(File No.

Revised Securities Subscription Agreement, dated December 1, 2023, between the Registrant and CO2 Energy Transition, LLC as amended and restated (filed as Exhibit 10.5 to the Company’s Form S-1/A Registration Statement (Amendment No.

3), filed with the Securities and Exchange Commission on March 22, 2024, and incorporated herein by reference)(File No.

Letter Agreement, dated November 20, 2024, by and among the Company and its officers, directors and the Sponsor (filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 25, 2024, and incorporated herein by reference)(File No.

Investment Management Trust Agreement, dated November 20, 2024, by and between the Company and Continental Stock Transfer & Trust Company, LLC (filed as Exhibit 10.2 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 25, 2024, and incorporated herein by reference)(File No.

Registration Rights Agreement, dated November 20, 2024, by and among the Company and certain security holders (filed as Exhibit 10.3 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 25, 2024, and incorporated herein by reference)(File No.

Administrative Services Agreement, dated November 20, 2024, by and between the Company and the Sponsor (filed as Exhibit 10.4 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 25, 2024, and incorporated herein by reference)(File No.

Indemnity Agreement, dated as of November 20, 2024, by and between the Company and each of the officers and directors of the Company (filed as Exhibit 10.5 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 25, 2024, and incorporated herein by reference) (File No.

Private Placement Units Purchase Agreement, dated November 20, 2024, by and between the Company and the Sponsor (filed as Exhibit 10.6 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 25, 2024, and incorporated herein by reference)(File No.

Code of Ethics and Business Conduct

Letter from BDO USA, P.C.

Agreement, dated November 20, 2024, by and between the Company and Continental Stock Transfer & Trust Company, LLC (filed as

Exhibit 4.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 25, 2024,

and incorporated herein by reference)(File No.

Agreement, dated November 20, 2024, by and between the Company and Continental Stock Transfer & Trust Company, LLC (filed as

Exhibit 4.2 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 25, 2024,

and incorporated herein by reference)(File No.

of Registrant’s Securities (filed as Exhibit 4.3 to the Company’s Annual Report on Form 10-K filed with the Securities

and Exchange Commission on March 31, 2025, and incorporated herein by reference)(File No.

Note, dated April 20, 2024, issued to CO2 Energy Transfer, LLC (filed as Exhibit 10.1 to the Company’s Form S-1/A

Registration Statement (Amendment No.

5), filed with the Securities and Exchange Commission on May 3, 2023, and incorporated herein

by reference)(File No.

Securities Subscription Agreement, dated December 1, 2023, between the Registrant and CO2 Energy Transition, LLC as amended and restated (filed

as Exhibit 10.5 to the Company’s Form S-1/A Registration Statement (Amendment No.

3), filed with the Securities and Exchange

Commission on March 22, 2024, and incorporated herein by reference)(File No.

Agreement, dated November 20, 2024, by and among the Company and its officers, directors and the Sponsor (filed as Exhibit 10.1 to

the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 25, 2024, and incorporated

herein by reference)(File No.

Management Trust Agreement, dated November 20, 2024, by and between the Company and Continental Stock Transfer & Trust Company,

LLC (filed as Exhibit 10.2 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on

November 25, 2024, and incorporated herein by reference)(File No.

Rights Agreement, dated November 20, 2024, by and among the Company and certain security holders (filed as Exhibit 10.3 to the Company’s

Current Report on Form 8-K filed with the Securities and Exchange Commission on November 25, 2024, and incorporated herein by reference)(File

Administrative

Services Agreement, dated November 20, 2024, by and between the Company and the Sponsor (filed as Exhibit 10.4 to the Company’s

Current Report on Form 8-K filed with the Securities and Exchange Commission on November 25, 2024, and incorporated herein by reference)(File

Agreement, dated as of November 20, 2024, by and between the Company and each of the officers and directors of the Company (filed

as Exhibit 10.5 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 25,

2024, and incorporated herein by reference) (File No.

Placement Units Purchase Agreement, dated November 20, 2024, by and between the Company and the Sponsor (filed as Exhibit 10.6 to

the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 25, 2024, and incorporated

herein by reference)(File No.

Promissory Note, dated March 31, 2025, and entered into on April 15, 2025, by and between CO2 Energy Transition Corp.

and CO2 Energy

Transition, LLC (filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission

on April 21, 2025, and incorporated herein by reference)(File No.

of Ethics and Business Conduct (filed as Exhibit 14.1 to the Company’s Annual Report on Form 10-K filed with the Securities

and Exchange Commission on March 31, 2025, and incorporated herein by reference)(File No.

from BDO USA, P.C.

(filed as Exhibit 16.1 to the Company’s Form S-1/A Registration Statement (Amendment No.

2), filed with the Securities and Exchange Commission on January 9, 2024, and incorporated herein by reference)(File No.

CO2 Energy Transition Corp.

Policy on Insider Trading

with the Securities and Exchange Commission on January 9, 2024, and incorporated herein by reference)(File No.

Energy Transition Corp.

Policy on Insider Trading (filed as Exhibit 19.1 to the Company’s Annual Report on Form 10-K filed

with the Securities and Exchange Commission on March 31, 2025, and incorporated herein by reference)(File No.

Certification of Principal Executive Officer Pursuant to Securities Exchange Act Rules 13a-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

4 unchanged sentences

Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

CO2 Energy Transition Corp.

Clawback Policy

Inline XBRL Instance Document

Inline XBRL Taxonomy Extension Schema Document

Inline XBRL Taxonomy Extension Calculation Linkbase Document

Inline XBRL Taxonomy Extension Definition Linkbase Document

Inline XBRL Taxonomy Extension Labels Linkbase Document

Inline XBRL Taxonomy Extension Presentation Linkbase Document

Inline XBRL for the cover page of this Annual Report on Form 10-K, included in the Exhibit 101 Inline XBRL Document Set*

Filed herewith.

Furnished herewith.

The Company does not have any subsidiaries.

Energy Transition Corp.

Clawback Policy (filed as Exhibit 97.1 to the Company’s Annual Report on Form 10-K filed with the Securities

and Exchange Commission on March 31, 2025, and incorporated herein by reference)(File No.

XBRL Instance Document

XBRL Taxonomy Extension Schema Document

XBRL Taxonomy Extension Calculation Linkbase Document

XBRL Taxonomy Extension Definition Linkbase Document

XBRL Taxonomy Extension Labels Linkbase Document

XBRL Taxonomy Extension Presentation Linkbase Document

XBRL for the cover page of this Annual Report on Form 10-K, included in the Exhibit 101 Inline XBRL Document Set*

Company does not have any subsidiaries.

FORM 10–K SUMMARY.

Not provided.

Pursuant to the requirements of Section 13 or 15(d)

of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned there

under duly authorized.

to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed

on its behalf by the undersigned there under duly authorized.

CO2 Energy Transitions Corp.

March 13, 2026

/s/ Brady Rodgers

1 unchanged sentence

(Principal Executive Officer)

Pursuant to the requirements

of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in

the capacities and on the dates indicated:

/s/ Brady Rodgers

Chief Executive Officer

to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the

Registrant and in the capacities and on the dates indicated:

Brady Rodgers

(Principal Executive Officer)

March 28, 2025

/s/ Harold R.

Chief Financial Officer

(Principal Financial and Accounting Officer)

/s/ William H.

Executive Officer

Executive Officer)

March 13, 2026

/s/ Marcella Burke

Financial Officer

Financial and Accounting Officer)

Marcella Burke

March 28, 2025

/s/ James Wang

March 28, 2025

/s/ Charles E.

Director and Chairman of the Board

March 28, 2025

and Chairman of the Board

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 9A. Controls and Procedures