<SEC-DOCUMENT>0001213900-26-019322.txt : 20260223
<SEC-HEADER>0001213900-26-019322.hdr.sgml : 20260223
<ACCEPTANCE-DATETIME>20260223172453
ACCESSION NUMBER:		0001213900-26-019322
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20260312
FILED AS OF DATE:		20260223
DATE AS OF CHANGE:		20260223

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Ribbon Acquisition Corp.
		CENTRAL INDEX KEY:			0002035016
		STANDARD INDUSTRIAL CLASSIFICATION:	BLANK CHECKS [6770]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		EIN:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-42474
		FILM NUMBER:		26666553

	BUSINESS ADDRESS:	
		STREET 1:		CENTRAL PARK TWR LATOUR SHINJUKU RM 3001
		STREET 2:		6-15-1 NISHI SHINJUKU, SHINJUKU-KU
		CITY:			TOKYO
		STATE:			M0
		ZIP:			160-0023
		BUSINESS PHONE:		819085083462

	MAIL ADDRESS:	
		STREET 1:		CENTRAL PARK TWR LATOUR SHINJUKU RM 3001
		STREET 2:		6-15-1 NISHI SHINJUKU, SHINJUKU-KU
		CITY:			TOKYO
		STATE:			M0
		ZIP:			160-0023
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>ea0277890-def14a_ribbon.htm
<DESCRIPTION>DEFINITIVE PROXY STATEMENT
<TEXT>
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<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>UNITED
STATES</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>SECURITIES
AND EXCHANGE COMMISSION</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Washington,
D.C. 20549</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>SCHEDULE
14A</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Rule&nbsp;14a-101)</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>INFORMATION
REQUIRED IN PROXY STATEMENT</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&nbsp;</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>SCHEDULE
14A INFORMATION</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Proxy
Statement Pursuant to Section 14(a)</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>of
the Securities Exchange Act of 1934</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed
by the Registrant&nbsp;&#9746;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed
by a Party other than the Registrant&nbsp;&#9744;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Check
the appropriate box:</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preliminary
    Proxy Statement</font></TD></TR>

<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Confidential,
    for the use of the Commission only (as permitted by Rule&nbsp;14a-6(e)(2))</b></font></TD></TR>

<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitive
    Proxy Statement</font></TD></TR>

<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitive
    Additional Materials</font></TD></TR>

<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soliciting
    Material Pursuant to &sect;240.14a-12</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Ribbon
Acquisition Corp.</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Name
of Registrant as Specified in its Charter)</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Name
of Person(s) Filing Proxy Statement, if Other Than the Registrant)</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Payment
of Filing Fee (Check the appropriate box):</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">No
    fee required.</font></TD></TR>

<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee
    paid previously with preliminary materials.</font></TD></TR>

<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee
    computed on table in exhibit required by Item 25(b) per Exchange Act Rules&nbsp;14a-6(i)(1) and 0-11</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"></P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Ribbon
Acquisition Corp.</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Central
Park Tower LaTour Shinjuku</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Room
3001, 6-15-1 Nishi Shinjuku</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Shinjuku-ku,
Tokyo 160-0023, Japan</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B></B></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">February 23, 2026</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dear
Stockholder:</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">On behalf of the Board of
Directors (the &ldquo;<B><U>Board</U></B>&rdquo;) of Ribbon Acquisition Corp. (the &ldquo;<B><U>Company</U></B>,&rdquo; &ldquo;<B><U>Ribbon</U></B>&rdquo;
or &ldquo;<B><U>we</U></B>&rdquo;), I invite you to attend our Extraordinary General Meeting of Shareholders (the &ldquo;<B><U>Special
Meeting</U></B>&rdquo;). We hope you can join us. The Special Meeting will be held at 10:00 a.m. Eastern Time on March 12, 2026. Ribbon
will be holding the Special Meeting virtually, via live webcast, and advance registration is required. Stockholders may attend the Special
Meeting, vote, and submit questions during the meeting by visiting <I>www.proxydocs.com/</I>RIBB<I></I>
and following the instructions for preregistration and meeting access.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Notice of Extraordinary
General Meeting of Shareholders, the Proxy Statement and the proxy card accompanying this letter are also available at <I>www.proxydocs.com/RIBB.</I>
We are first mailing these materials to our stockholders on or about February 23, 2026.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
discussed in the enclosed Proxy Statement, the purpose of the Special Meeting is to consider and vote upon the following proposals:</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proposal 1 &mdash; To resolve, by the affirmative vote of at least
sixty-five percent (65%) of the Company&rsquo;s issued and outstanding ordinary shares, voting together as a single class, to approve
Amendment No. 2 to the Investment Management Trust Agreement, dated January 14, 2025, by and between the Company and Odyssey Transfer
and Trust Company (the &ldquo;Trustee&rdquo;), as amended by Amendment No. 1 dated January 9, 2026 (the &ldquo;Trust Agreement&rdquo;),
to provide that, for each one-month extension of the Company&rsquo;s deadline to consummate an initial business combination, the Company
will deposit into the Trust Account the lesser of (i) $50,000 and (ii) $0.033 for each then-outstanding public share (each, a &ldquo;Monthly
Contribution&rdquo;) (the &ldquo;Trust Amendment&rdquo;). A copy of the proposed Trust Amendment is attached as Annex A to the accompanying
proxy statement.;</font></TD></TR>

<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proposal
    2 &mdash; A proposal to resolve as an ordinary resolution that the chairman of the Special Meeting be authorized to adjourn the Special
    Meeting (the &ldquo;Adjournment Proposal&rdquo;) to a later date or dates, if necessary, to permit further solicitation and voting
    of proxies if there are insufficient votes to approve the Trust Amendment Proposal.</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&rsquo;s Second Amended and Restated Memorandum and Articles of Association (the &ldquo;Charter&rdquo;) currently provide that
the Company must complete an initial business combination by January 16, 2027 (the &ldquo;Termination Date&rdquo;).</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the Company&rsquo;s Investment Management Trust Agreement, dated January 14, 2025, as amended (the &ldquo;Trust Agreement&rdquo;),
the Company may extend the Termination Date on a monthly basis upon the deposit of a specified contribution into the Trust Account (each,
a &ldquo;Monthly Contribution&rdquo;).</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with the prior shareholder approval to extend the Termination Date to January 16, 2027, the Company disclosed that its sponsor,
Ribbon Investment Company Ltd. (the &ldquo;Sponsor&rdquo;), would deposit a fixed monthly contribution of US$125,000 into the Trust Account
for each one-month extension period (each, a &ldquo;Sponsor Contribution&rdquo;).</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT>The
Trust Amendment Proposal would amend the Trust Agreement to provide that, for each one-month extension of the Company&rsquo;s deadline
to consummate an initial business combination, the Company will deposit into the Trust Account the lesser of (i) US$50,000 and (ii) US$0.033
for each then-outstanding public share (each, a &ldquo;Monthly Contribution&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Sponsor has advised the
Company that it does not intend to fund Monthly Contributions in excess of US$50,000 per month. Accordingly, unless the Trust Amendment
Proposal is approved, the Company may be unable to exercise its monthly extension rights if the required Monthly Contribution exceeds
US$50,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">If the Trust Amendment Proposal
is approved, in connection with each one-month extension period, the Sponsor (or its affiliates or designees) is expected to deposit
the applicable Monthly Contribution into the Trust Account for the benefit of the Company&rsquo;s public shareholders. Approval of the
Trust Amendment Proposal would not modify the Termination Date or amend the Charter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 2 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of February 20, 2026, approximately US$37,385,608.09 was held in the Trust Account. Based on such amount and 3,563,133 public shares
outstanding as of such date, the estimated per-share redemption price would have been approximately US$10.49 per public share (subject
to change based on interest earnings, permitted withdrawals and redemptions).</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&rsquo;s Board of Directors (the &ldquo;Board&rdquo;) has determined that it is in the best interests of the Company and its shareholders
to seek approval of the Trust Amendment Proposal because approval would provide the Company with additional flexibility to complete an
initial business combination while preserving the redemption rights of public shareholders. If the Trust Amendment Proposal is not approved
and the Company does not complete an initial business combination by the Termination Date, the Company will wind up its affairs and redeem
100% of the outstanding public shares in accordance with the Charter and the Trust Agreement.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Trust Amendment Proposal and the Adjournment Proposal are more fully described in the accompanying proxy statement.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>You
are not being asked to vote on any business combination at this time. If the Trust Amendment Proposal is approved and implemented, and
you do not elect to redeem your public shares (&ldquo;Public Shares&rdquo;) in connection with the Special Meeting, you will retain the
right to vote on any proposed business combination when it is submitted to shareholders and the right to redeem your Public Shares for
a pro rata portion of the Trust Account in connection with such business combination (so long as your election is made at least two (2)
business days prior to the meeting at which the shareholders&rsquo; vote is sought), or if the Company has not consummated an initial
business combination by the Termination Date of January 16, 2027.</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with the Trust Amendment Proposal, public shareholders may elect (the &ldquo;Election&rdquo;) to redeem their Public Shares
for a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest not previously
released to the Company to pay franchise and income taxes, divided by the number of then-outstanding Public Shares, regardless of whether
such public shareholders vote &ldquo;FOR&rdquo; or &ldquo;AGAINST&rdquo; the Trust Amendment Proposal or the Adjournment Proposal. An
Election may also be made by public shareholders who do not vote or do not instruct their broker, bank or nominee how to vote at the
Special Meeting. Public shareholders may make an Election regardless of whether they were holders as of the Record Date.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If the Trust Amendment Proposal is approved by the requisite vote of shareholders, the remaining holders of Public Shares will retain
their right to redeem their Public Shares in connection with a vote to approve a business combination, subject to any limitations set
forth in the Charter. Each redemption of Public Shares will reduce the amount of funds held in the Trust Account, which held approximately
US$37,385,608.09 as of February 20, 2026. In addition, shareholders who do not elect to redeem their Public Shares in connection with
the Special Meeting will retain the right to have their Public Shares redeemed for cash if the Company has not completed an initial business
combination by the Termination Date of January 16, 2027.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
closing price of the Company&rsquo;s Class A ordinary shares on February 20, 2026 was approximately US$10.50
per share. The Company cannot assure shareholders that they will be able to sell their Class A ordinary shares in the open market, even
if the market price per share exceeds the redemption price, as there may not be sufficient liquidity in the Company&rsquo;s securities
at the time such shareholders wish to dispose of their shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT>The
Sponsor and the Company&rsquo;s directors and officers collectively have the right to vote 1,470,000 ordinary shares, consisting of (i)
1,250,000 Class B ordinary shares (the &ldquo;Founder Shares&rdquo;) issued to the Sponsor prior to the Company&rsquo;s initial public
offering and (ii) 220,000 Class A ordinary shares included in the private units purchased by the Sponsor in a private placement completed
simultaneously with the closing of the Company&rsquo;s initial public offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><B>To exercise
your redemption rights, you must tender your Public Shares to the Company&rsquo;s transfer agent at least two (2) business days prior
to the Special Meeting (or March 10, 2026). You may tender your Public Shares by either delivering your share certificate (if any) to
the transfer agent or by delivering your shares electronically using The Depository Trust Company&rsquo;s DWAC (Deposit/Withdrawal At
Custodian) system. If you hold your Public Shares in &ldquo;street name,&rdquo; you must instruct your bank, broker or other nominee
to withdraw the shares from your account and deliver them to the transfer agent in order to exercise your redemption rights.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
the Trust Amendment Proposal is not approved and the Company does not consummate an initial business combination by the Termination Date
of January 16, 2027, then, in accordance with the Charter and the Trust Agreement, the Company will (i) cease all operations except for
the purpose of winding up, (ii) as promptly as reasonably possible thereafter, redeem 100% of the outstanding Public Shares at a per-share
price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held
in the Trust Account and not previously released to the Company to pay taxes, divided by the number of then-outstanding Public Shares,
which redemption will completely extinguish Public Shareholders&rsquo; rights as shareholders (including the right to receive any further
liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably practicable following such redemption,
subject to the approval of the remaining shareholders and the Board, liquidate and dissolve, in each case subject to the Company&rsquo;s
obligations under applicable Cayman Islands law to provide for claims of creditors and the requirements of any other applicable law.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Approval
of the Trust Amendment Proposal requires the affirmative vote of at least sixty-five percent (65%) of the Company&rsquo;s issued and
outstanding ordinary shares, voting together as a single class. Approval of the Adjournment Proposal requires the affirmative vote of
at least a majority of the ordinary shares represented in person or by proxy and entitled to vote at the Special Meeting.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notwithstanding
shareholder approval of the Trust Amendment Proposal or the Adjournment Proposal, the Board will retain the discretion to abandon and
not implement either proposal at any time and for any reason, without any further action by the Company&rsquo;s shareholders.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Board has fixed the
close of business on February 18, 2026 as the Record Date for determining the Company&rsquo;s shareholders entitled to receive notice
of and vote at the Special Meeting and any adjournments or postponements thereof. Only holders of record of the Company&rsquo;s ordinary
shares on that date are entitled to have their votes counted at the Special Meeting or any adjournments or postponements thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>After
careful consideration of all relevant factors, the Board has determined that each of the proposals are advisable and recommends that
you vote or give instruction to vote &ldquo;FOR&rdquo; such proposals.</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Enclosed
is the Proxy Statement containing detailed information concerning the Trust Amendment Proposal and the Adjournment Proposal to be considered
at the Special Meeting. Whether or not you plan to attend the Special Meeting, we urge you to read this material carefully and vote your
shares.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sincerely,</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 40%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Angshuman (Bubai) Ghosh </font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 60%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Angshuman
    (Bubai) Ghosh</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
Executive Officer and Director</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT>February 23, 2026</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>RIBBON
ACQUISITION CORP.</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Central
Park Tower LaTour Shinjuku</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Room
3001, 6-15-1 Nishi Shinjuku</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Shinjuku-ku,
Tokyo 160-0023, Japan</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTICE
OF EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS TO BE HELD ON MARCH 12, 2026</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">February 23, 2026</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
the Stockholders of Ribbon Acquisition Corp.:</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">NOTICE IS HEREBY GIVEN that
a Special Meeting of Shareholders (the &ldquo;Special Meeting&rdquo;) of Ribbon Acquisition Corp. (the &ldquo;Company,&rdquo; &ldquo;Ribbon&rdquo;
or &ldquo;we&rdquo;), a Cayman Islands exempted company, will be held on March 12, 2026 at 10 a.m. Eastern Time. The Company will be
holding the Special Meeting virtually, via live webcast, and advance registration is required. Stockholders may attend the Special Meeting,
vote, and submit questions during the meeting by visiting <I>www.proxydocs.com/RIBB </I>and following the instructions for preregistration
and meeting access.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
purpose of the Special Meeting will be to consider and vote upon the following proposals:</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proposal 1 &mdash; To resolve, by the affirmative vote of at least
sixty-five percent (65%) of the Company&rsquo;s issued and outstanding ordinary shares, voting together as a single class, to approve
Amendment No. 2 to the Investment Management Trust Agreement, dated January 14, 2025, by and between the Company and Odyssey Transfer
and Trust Company (the &ldquo;Trustee&rdquo;), as amended by Amendment No. 1 dated January 9, 2026 (the &ldquo;Trust Agreement&rdquo;),
to provide that, for each one-month extension of the Company&rsquo;s deadline to consummate an initial business combination, the Company
will deposit into the Trust Account the lesser of (i) $50,000 and (ii) $0.033 for each then-outstanding public share (each, a &ldquo;Monthly
Contribution&rdquo;) (the &ldquo;Trust Amendment&rdquo;). A copy of the proposed Trust Amendment is attached as Annex A to the accompanying
proxy statement;</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proposal
    2 &mdash; A proposal to resolve as an ordinary resolution that the chairman of the Special Meeting be authorized to adjourn the Special
    Meeting (the &ldquo;Adjournment Proposal&rdquo;) to a later date or dates, if necessary, to permit further solicitation and voting
    of proxies if there are insufficient votes to approve the Trust Amendment Proposal.</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT>The
Board of Directors has fixed the close of business on February 18, 2026 as the record date for the Special Meeting and only holders of
shares of record at that time will be entitled to notice of and to vote at the Special Meeting or any adjournments or postponements thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 60%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 40%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By
    Order of the Board of Directors</font></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Angshuman (Bubai) Ghosh </font></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Executive Officer and Director</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tokyo,
Japan</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT>February 23, 2026</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><u>IMPORTANT</u></b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>IF
YOU CANNOT ATTEND THE SPECIAL MEETING VIRTUALLY, IT IS REQUESTED THAT YOU INDICATE YOUR VOTE ON THE ISSUES INCLUDED ON THE ENCLOSED PROXY
AND DATE, SIGN AND MAIL IT IN THE ENCLOSED SELF-ADDRESSED ENVELOPE WHICH REQUIRES NO POSTAGE IF MAILED IN THE UNITED STATES OF AMERICA.</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><B>IMPORTANT
NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS TO BE HELD ON MARCH 12, 2026.
THIS PROXY STATEMENT IS AVAILABLE AT www.proxydocs.com/RIBB.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>RIBBON
ACQUISITION CORP.</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Central
Park Tower LaTour Shinjuku</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Room
3001, 6-15-1 Nishi Shinjuku</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Shinjuku-ku,
Tokyo 160-0023, Japan</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif"><b>DEFINITIVE
PROXY STATEMENT</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif"><b>EXTRAORDINARY
GENERAL MEETING OF SHAREHOLDERS</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&nbsp;</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TO
BE HELD MARCH 12, 2026</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FIRST MAILED ON OR ABOUT FEBRUARY 23, 2026</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Date,
Time and Place of the Special Meeting</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The enclosed proxy is solicited
by the Board of Directors (the &ldquo;Board&rdquo;) of Ribbon Acquisition Corp. (the &ldquo;Company,&rdquo; &ldquo;Ribbon&rdquo; or &ldquo;we&rdquo;),
a Cayman Islands exempted company, in connection with the Special Meeting of shareholders to be held on March 12, 2026 at 10 a.m. Eastern
time for the purposes set forth in the accompanying Notice of Meeting. The Company will be holding the Special Meeting, and any adjournments
thereof, virtually, via live webcast, and advance registration is required. Stockholders may attend the Special Meeting, vote, and submit
questions during the meeting by visiting <I>www.proxydocs.com/RIBB</I> and following the instructions for preregistration and meeting
access.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
principal executive office of the Company is Central Park Tower LaTour Shinjuku Room 3001, 6-15-1 Nishi Shinjuku, Shinjuku-ku, Tokyo
160-0023, Japan and its telephone number, including area code, is +81 9085083462.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FORWARD
LOOKING STATEMENTS</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
proxy statement contains forward-looking statements that are not historical facts. These include, without limitation, statements regarding
the Company&rsquo;s plans and objectives for future operations, including those relating to a potential initial business combination.
These statements constitute projections, forecasts and other forward-looking statements and are not guarantees of future performance.
Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results,
performance or achievements of the Company to be materially different from any future results, performance or achievements expressed
or implied by such forward-looking statements. Forward-looking statements can be identified by terminology or expressions such as &ldquo;anticipate,&rdquo;
&ldquo;believe,&rdquo; &ldquo;continue,&rdquo; &ldquo;could,&rdquo; &ldquo;estimate,&rdquo; &ldquo;expect,&rdquo; &ldquo;intend,&rdquo;
&ldquo;may,&rdquo; &ldquo;might,&rdquo; &ldquo;plan,&rdquo; &ldquo;possible,&rdquo; &ldquo;potential,&rdquo; &ldquo;predict,&rdquo; &ldquo;project,&rdquo;
&ldquo;should,&rdquo; &ldquo;strive,&rdquo; &ldquo;would,&rdquo; and similar phrases, although the absence of these words does not mean
that a statement is not forward-looking. When the Company discusses its strategies or plans, including those relating to a potential
business combination, it is making forward-looking statements based on the assumptions and beliefs of, and information currently available
to, the Company&rsquo;s management. Actual results and shareholder value may be materially affected by a variety of risks and factors,
including, without limitation: general economic, financial, market and geopolitical conditions; merger, acquisition and business combination
risks; financing and capital-market risks; acts of war or terrorism; and other risks described under &ldquo;Item 1A. Risk Factors&rdquo;
in the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on March 31, 2025,
the Company&rsquo;s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2025 and June 30, 2025, and in the Company&rsquo;s
other filings with the SEC. Many of these risks and uncertainties are beyond the Company&rsquo;s ability to control or predict.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
such forward-looking statements speak only as of the date of this proxy statement. The Company expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in
the Company&rsquo;s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement
is based. All subsequent written or oral forward-looking statements attributable to us or persons acting on the Company&rsquo;s behalf
are qualified in their entirety by this &ldquo;Forward-Looking Statements&rdquo; section.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif"><b>RISK FACTORS</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif"><b>&nbsp;</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">You
should carefully consider the following risk factors, together with all of the other information included in this proxy statement, before
deciding how to vote on the Trust Amendment Proposal. The occurrence of one or more of the events described below could materially adversely
affect the Company and its shareholders.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><b>If
the Trust Amendment Proposal Is Not Approved, the Company May Be Unable to Exercise Its Existing Extension Rights and May Be Required
to Liquidate.</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company&rsquo;s Charter
currently provides that the Company must complete an initial business combination by January 16, 2027 (the &ldquo;Termination Date&rdquo;).
Pursuant to the Trust Agreement, the Company may extend the Termination Date on a monthly basis upon the deposit of the required Monthly
Contribution into the Trust Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Under the existing Trust
Agreement, the Monthly Contribution required to effectuate each one-month extension exceeds $50,000 per month. The Sponsor has advised
the Company that it does not intend to fund Monthly Contributions in excess of $50,000 per month. If the Trust Amendment Proposal is not
approved, the Company may be unable to exercise its extension rights because the required Monthly Contribution would exceed the amount
the Sponsor is willing to fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In such event, if the Company
does not complete an initial business combination by the Termination Date, it would be required to liquidate the Trust Account and dissolve,
and public shareholders would receive only their pro rata portion of the funds then remaining in the Trust Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><b>Even
if the Trust Amendment Proposal Is Approved, There Is No Assurance That the Company Will Complete Its Initial Business Combination.</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif"><b>&nbsp;</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">Approval
of the Trust Amendment Proposal would provide the Company with additional flexibility to exercise its existing monthly extension rights,
but it does not guarantee that the Company will complete its initial business combination.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">The
Company has entered into a Business Combination Agreement with DRC Medicine Ltd. Completion of that transaction is subject to a number
of conditions, including the effectiveness of a registration statement filed with the SEC, shareholder approvals, and other customary
closing conditions. There can be no assurance that these conditions will be satisfied in a timely manner or at all. If the business combination
is not consummated prior to the applicable deadline, the Company may be required to liquidate.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><b>The
Reduced Monthly Contribution May Decrease the Incremental Amount Added to the Trust Account.</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In connection with the prior
shareholder approval of the Company&rsquo;s extension framework, the Sponsor agreed to deposit $125,000 into the Trust Account for each
one-month extension period. The Trust Amendment Proposal would revise that structure to provide that, for each one-month extension, the
Company will deposit into the Trust Account the lesser of (i) $50,000 and (ii) $0.033 for each then-outstanding public share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">As a result, the amount
added to the Trust Account for each extension month would be lower than previously contemplated. In particular, if no public shares are
redeemed, the Monthly Contribution would be $50,000, which is less than the prior $125,000 per month contribution. If a significant number
of public shares are redeemed, the Monthly Contribution could be less than $50,000 based on the per-share formula. Consequently, the
per-share amount available for redemption in connection with a business combination or for distribution in a liquidation could be lower
than it would have been if $125,000 per month had continued to be deposited.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><b>The
Company May Be Deemed to Be an Investment Company Under the Investment Company Act.</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif"><b>&nbsp;</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">The
funds held in the Trust Account are invested in U.S. government securities or money market funds meeting certain conditions under Rule
2a-7 under the Investment Company Act. The SEC has adopted rules addressing SPACs and their potential status under the Investment Company
Act.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">If
the Company were deemed to be an unregistered investment company, it could be required to liquidate or otherwise alter its operations.
Any such determination could materially adversely affect the Company&rsquo;s ability to complete an initial business combination.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><b>The
Sponsor and the Company&rsquo;s Directors and Officers Have Interests That May Differ From Those of Public Shareholders.</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif"><b>&nbsp;</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">The
Sponsor and the Company&rsquo;s directors and officers have interests that may differ from, or be in addition to, the interests of public
shareholders. These interests include ownership of founder shares and private placement securities that would become worthless if the
Company does not complete an initial business combination.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">As
a result, the Sponsor and the Company&rsquo;s directors and officers may have an incentive to approve and implement extensions or pursue
a business combination even if certain public shareholders may determine that liquidation is preferable.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif"><b>PENDING
BUSINESS COMBINATION WITH DRC MEDICINE LTD.</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><b>&nbsp;</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">On
June 30, 2025, Ribbon entered into a Business Combination Agreement (as amended from time to time, the &ldquo;Business Combination Agreement&rdquo;)
with (i) DRC Medicine Ltd., a Japanese corporation (Kabushiki Kaisha) (&ldquo;DRC&rdquo;), (ii) DRC Medicine Inc., a Delaware corporation
(&ldquo;Pubco&rdquo;), and (iii) DRC Merger Inc., a Delaware corporation and wholly-owned subsidiary of Pubco (&ldquo;Merger Sub&rdquo;).</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">Pursuant
to the Business Combination Agreement, the parties intend to consummate a series of transactions, including (i) a share exchange pursuant
to which shareholders of DRC will exchange their shares for newly issued shares of Pubco, (ii) the domestication of Ribbon from the Cayman
Islands to the State of Delaware, and (iii) the merger of Ribbon with and into Merger Sub, with Merger Sub surviving as a wholly-owned
subsidiary of Pubco (collectively, the &ldquo;Business Combination&rdquo;).</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">The
Business Combination is subject to customary closing conditions, including approval by Ribbon&rsquo;s shareholders and effectiveness
of a registration statement on Form S-4 to be filed with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;), which will include
a proxy statement/prospectus relating to the Business Combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">Ribbon&rsquo;s
board of directors believes that additional time may be necessary to complete the SEC review process, satisfy applicable closing conditions
and consummate the Business Combination.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">If
the proposed extension is not approved and Ribbon is unable to consummate the Business Combination prior to its current termination date,
Ribbon would be required to liquidate, and the Business Combination Agreement would be terminated in accordance with its terms.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">The
Board has determined that seeking the extension provides Ribbon with additional flexibility to complete the Business Combination and
is in the best interests of Ribbon and its shareholders.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif"><b>PURPOSE
OF THE SPECIAL MEETING</b></font></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
the Special Meeting, you will be asked to consider and vote upon the following matters:</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proposal 1 &mdash; To resolve, by the affirmative vote of at least
sixty-five percent (65%) of the Company&rsquo;s issued and outstanding ordinary shares, voting together as a single class, to approve
Amendment No. 2 to the Investment Management Trust Agreement, dated January 14, 2025, by and between the Company and Odyssey Transfer
and Trust Company (the &ldquo;Trustee&rdquo;), as amended by Amendment No. 1 dated January 9, 2026 (the &ldquo;Trust Agreement&rdquo;),
to provide that, for each one-month extension of the Company&rsquo;s deadline to consummate an initial business combination, the Company
will deposit into the Trust Account the lesser of (i) $50,000 and (ii) $0.033 for each then-outstanding public share (each, a &ldquo;Monthly
Contribution&rdquo;) (the &ldquo;Trust Amendment&rdquo;). A copy of the proposed Trust Amendment is attached as Annex A to the accompanying
proxy statement;</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proposal
    2 &mdash; A proposal to resolve as an ordinary resolution that the chairman of the Special Meeting be authorized to adjourn the Special
    Meeting (the &ldquo;Adjournment Proposal&rdquo;) to a later date or dates, if necessary, to permit further solicitation and voting
    of proxies if there are insufficient votes to approve the Trust Amendment Proposal.</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Trust Agreement currently permits the Company to extend its deadline to consummate an initial business combination on a monthly basis
upon the deposit of a specified contribution into the Trust Account (each, a &ldquo;Monthly Contribution&rdquo;).</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with the prior shareholder approval of the extension framework, the Company disclosed that the Sponsor would deposit US$125,000
into the Trust Account for each one-month extension period.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Trust Amendment Proposal
would amend the Trust Agreement to provide that, for each one-month extension of the Company&rsquo;s deadline to consummate an initial
business combination, the Company will deposit into the Trust Account the lesser of (i) US$50,000 and (ii) US$0.033 for each then-outstanding
public share (each, a &ldquo;Monthly Contribution&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in">In
connection with the prior shareholder approval of the Company&rsquo;s extension framework, the Company disclosed that its sponsor, Ribbon
Investment Company Ltd. (the &ldquo;Sponsor&rdquo;), would deposit US$125,000 into the Trust Account for each one-month extension period
(each, a &ldquo;Sponsor Contribution&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Trust Amendment Proposal
would amend the Trust Agreement to provide that, for each one-month extension of the Company&rsquo;s deadline to consummate an initial
business combination, the Company will deposit into the Trust Account the lesser of (i) US$50,000 and (ii) US$0.033 for each then-outstanding
public share (each, a &ldquo;Monthly Contribution&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Approval
of the Trust Amendment Proposal would not modify the Company&rsquo;s existing deadline to consummate an initial business combination
or amend the Company&rsquo;s Charter. Rather, the proposal would revise the amount of the contribution required to be deposited into
the Trust Account in connection with each one-month extension.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in">As of February 20, 2026, approximately US$37,385,608.09 was held in the Trust Account. Based on such amount and 3,563,133 public shares
outstanding as of such date, the estimated per-share redemption price would have been approximately US$10.49 per public share (subject
to change based on interest earnings, permitted withdrawals and redemptions).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">If the Company elects to
effectuate one or more monthly extensions and the Trust Amendment Proposal is approved, the Sponsor (or its affiliates or designees)
would deposit into the Trust Account, for each such one-month extension period, the lesser of (i) US$50,000 and (ii) US$0.033 for each
then-outstanding public share. The per-share redemption price would increase by the amount of any such Monthly Contribution, divided
by the number of public shares then outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in">The
Company&rsquo;s Board of Directors (the &ldquo;Board&rdquo;) has determined that it is in the best interests of the Company and its shareholders
to seek approval of the Trust Amendment Proposal. The Trust Amendment Proposal would amend the Trust Agreement to provide that, for each
one-month extension of the Company&rsquo;s deadline to consummate an initial business combination, the Company will deposit into the
Trust Account the lesser of (i) US$50,000 and (ii) US$0.033 for each then-outstanding public share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Sponsor has advised
the Company that it does not intend to fund monthly contributions in excess of US$50,000 per month. The Board believes that approval
of the Trust Amendment Proposal would provide the Company with additional flexibility to exercise its monthly extension rights while
preserving the redemption rights of public shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
the Trust Amendment Proposal is not approved and the Company does not consummate an initial business combination by the applicable deadline
set forth in the Charter, the Company would wind up its affairs and redeem 100% of the outstanding public shares in accordance with the
Charter and the Trust Agreement.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Trust Amendment Proposal and the Adjournment Proposal are more fully described below in this proxy statement.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subject
to applicable securities laws (including with respect to material nonpublic information), the Company, the Sponsor or any of their respective
affiliates may (i) purchase public shares from institutional or other investors (including investors who elect to redeem, or indicate
an intention to redeem, their public shares), (ii) enter into arrangements with such investors to provide them with incentives not to
redeem their public shares, or (iii) enter into agreements to purchase such public shares or enter into non-redemption agreements.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
the extent the Sponsor or any of its affiliates purchases public shares in circumstances in which the tender offer rules or other restrictions
on purchases would apply, such purchases would be made in compliance with applicable law and, to the extent required: (a) would be effected
at a price no higher than the price payable to public shareholders in connection with the redemption of public shares (i.e., the per-share
amount then held in the Trust Account as of the redemption date, which is currently estimated to be approximately US$10.49 per share based on a Trust Account balance
of approximately US$37,385,608.09 as of February 20, 2026 and 3,563,133 public shares outstanding; (b) the Sponsor or affiliate would
represent in writing that the public shares so purchased will not be voted in favor of the Trust Amendment Proposal; and (c) the Sponsor
or affiliate would waive any redemption rights with respect to the public shares so purchased.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
purpose of such share purchases and other transactions would be to increase the likelihood of limiting the number of public shares electing
to redeem in connection with the Special Meeting. If such transactions are effected, the consequence could be to increase the likelihood
that the Trust Amendment Proposal is approved in circumstances where such approval might not otherwise occur.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consistent
with SEC guidance, any public shares purchased by the Sponsor or its affiliates in situations in which the tender offer rules or other
restrictions on purchases would apply would not be permitted to be voted in favor of the Trust Amendment Proposal at the Special Meeting.
As a result, such purchases could decrease the total number of shares eligible to vote in favor of the Trust Amendment Proposal.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, if such purchases are made, the public &ldquo;float&rdquo; of the Company&rsquo;s securities and the number of beneficial holders
of the Company&rsquo;s securities may be reduced, which could make it more difficult to maintain or obtain the quotation, listing or
trading of the Company&rsquo;s securities on a national securities exchange.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company hereby represents that any securities purchased by the Sponsor or any of its affiliates in circumstances in which the tender
offer rules or other restrictions on purchases would apply would not be voted in favor of the Trust Amendment Proposal.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>You
are not being asked to vote on any business combination at this time. If the Trust Amendment Proposal is approved and implemented, and
you do not elect to redeem your Public Shares in connection with the Special Meeting, you will retain the right to vote on any proposed
business combination when it is submitted to shareholders and the right to redeem your Public Shares for a pro rata portion of the Trust
Account in connection with such business combination (so long as your election is made at least two (2) business days prior to the meeting
at which the shareholders&rsquo; vote is sought), or if the Company has not consummated an initial business combination by the deadline
set forth in the Charter.</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with the Trust Amendment Proposal, public shareholders may elect (the &ldquo;Election&rdquo;) to redeem their public shares
(&ldquo;Public Shares&rdquo;) for a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account,
including interest not previously released to the Company to pay franchise and income taxes, divided by the number of then-outstanding
Public Shares, regardless of whether such public shareholders vote &ldquo;FOR&rdquo; or &ldquo;AGAINST&rdquo; the Trust Amendment Proposal
or the Adjournment Proposal. An Election may also be made by public shareholders who do not vote, or do not instruct their broker, bank
or nominee how to vote, at the Special Meeting. Public shareholders may make an Election regardless of whether such shareholders were
holders as of the Record Date.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
the Trust Amendment Proposal is approved by the requisite vote of shareholders, the remaining holders of Public Shares will retain their
right to redeem their Public Shares in connection with any vote to approve a business combination, subject to any limitations set forth
in the Charter (so long as their election is made at least two (2) business days prior to the meeting at which the shareholders&rsquo;
vote is sought). Each redemption of Public Shares will reduce the amount of funds held in the Trust Account, which held approximately
US$37,385,608.09 as of February 20, 2026. In addition, shareholders who do not elect to redeem their Public Shares in connection with the Special
Meeting will retain the right to have their Public Shares redeemed for cash if the Company has not completed an initial business combination
by the deadline set forth in the Charter.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
closing price of the Company&rsquo;s Class A ordinary shares on February 20, 2026 was approximately US$10.50
per share. The Company cannot assure shareholders that they will be able to sell their Class A ordinary shares in the open market, even
if the market price per share exceeds the redemption price, as there may not be sufficient liquidity in the Company&rsquo;s securities
at the time such shareholders seek to dispose of their shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Sponsor and the Company&rsquo;s
directors and officers collectively have the right to vote <B>1,470,000 ordinary shares</B>, consisting of (i) <B>1,250,000 Class B ordinary
shares</B> (the &ldquo;Founder Shares&rdquo;) issued to the Sponsor prior to the Company&rsquo;s initial public offering (the &ldquo;IPO&rdquo;),
and (ii) <B>220,000 Class A ordinary shares</B> included in the private units purchased by the Sponsor in a private placement completed
simultaneously with the closing of the IPO.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>To exercise your redemption rights, you must
tender your Public Shares to the Company&rsquo;s transfer agent at least two (2) business days prior to the Special Meeting (or March
10, 2026). You may tender your Public Shares by either delivering your share certificate (if any) to the transfer agent or by delivering
your shares electronically through The Depository Trust Company&rsquo;s DWAC (Deposit/Withdrawal At Custodian) system. If you hold your
Public Shares in &ldquo;street name,&rdquo; you must instruct your bank, broker or other nominee to withdraw the shares from your account
and deliver them to the transfer agent in order to exercise your redemption rights.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
the Trust Amendment Proposal is not approved and the Company does not consummate an initial business combination by the deadline set
forth in the Charter, then, in accordance with the Charter and the Trust Agreement, the Company will (i) cease all operations except
for the purpose of winding up, (ii) as promptly as reasonably possible thereafter, redeem 100% of the outstanding Public Shares at a
per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the
funds held in the Trust Account and not previously released to the Company to pay taxes, divided by the number of then-outstanding Public
Shares, which redemption will completely extinguish Public Shareholders&rsquo; rights as shareholders (including the right to receive
any further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably practicable following
such redemption, subject to the approval of the remaining shareholders and the Board, liquidate and dissolve, in each case subject to
the Company&rsquo;s obligations under applicable Cayman Islands law to provide for claims of creditors and the requirements of any other
applicable law.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subject
to the foregoing, approval of the Trust Amendment Proposal requires the affirmative vote of holders of at least sixty-five percent (65%)
of the Company&rsquo;s then outstanding ordinary shares (including the Founder Shares), voting together as a single class, in accordance
with Section 6(c) of the Investment Management Trust Agreement.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Board will abandon and will not implement the Trust Amendment Proposal unless the requisite shareholder approval is obtained. Notwithstanding
shareholder approval of the Trust Amendment Proposal, the Board will retain the discretion to abandon and not implement either such proposal
at any time and for any reason, without any further action by the Company&rsquo;s shareholders.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in">The
Board has fixed the close of business on February 18, 2026 as the Record Date for determining the Company&rsquo;s shareholders entitled
to receive notice of and vote at the Special Meeting and any adjournments or postponements thereof. Only holders of record of the Company&rsquo;s
ordinary shares on that date are entitled to vote at the Special Meeting or any adjournments or postponements thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>After
careful consideration of all relevant factors, the Board has determined that each of the proposals are advisable and recommends that
you vote or give instruction to vote &ldquo;FOR&rdquo; such proposals.</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Voting
Rights and Revocation of Proxies</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Board has fixed the
close of business on February 18, 2026 (the &ldquo;Record Date&rdquo;) as the date for determining the Company&rsquo;s shareholders entitled
to receive notice of and vote at the Special Meeting and any adjournments or postponements thereof. Only holders of record of the Company&rsquo;s
ordinary shares on that date will be entitled to have their votes counted at the Special Meeting or any adjournments or postponements
thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ordinary
shares represented by all validly executed proxies received in time to be voted at the Special Meeting and not previously revoked will
be voted at the meeting. A shareholder may revoke a proxy at any time before it is voted by filing with the Secretary of the Company
either a written notice of revocation or a duly executed proxy bearing a later date, or by attending the Special Meeting and voting in
person.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Dissenters&rsquo;
Right of Appraisal</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Holders of the Company&rsquo;s ordinary shares do not have appraisal, dissenters&rsquo; or similar rights under the Companies Act (As
Revised) of the Cayman Islands or under the Company&rsquo;s Second Amended and Restated Memorandum and Articles of Association (the &ldquo;Charter&rdquo;)
in connection with the proposals to be presented at the Special Meeting.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Outstanding
Shares and Quorum</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">As of the Record Date, there
were 4,813,133 ordinary shares of the Company issued and outstanding and entitled to vote at the Special Meeting. Each ordinary share
is entitled to one vote on each proposal to be presented at the Special Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
presence, in person or by proxy, of shareholders holding a majority of the issued and outstanding ordinary shares entitled to vote at
the Special Meeting will constitute a quorum for the transaction of business. There is no cumulative voting under the Company&rsquo;s
Second Amended and Restated Memorandum and Articles of Association or under the Companies Act (As Revised) of the Cayman Islands.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Abstentions
and broker non-votes, if any, will be treated as present for purposes of determining the existence of a quorum. However, because approval
of the Trust Amendment Proposal requires the affirmative vote of at least sixty-five percent (65%) of the Company&rsquo;s then outstanding
ordinary shares, abstentions and broker non-votes will have the same effect as votes &ldquo;AGAINST&rdquo; such proposal.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Broker
Non-Votes</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Holders
of ordinary shares held in &ldquo;street name&rdquo; (that is, in the name of a bank, broker or other nominee) must instruct the bank,
broker or other nominee that holds their shares how to vote their shares. If a shareholder does not provide voting instructions, the
nominee will be permitted to vote the shares only on matters deemed &ldquo;routine&rdquo; under applicable stock exchange rules. The
nominee may not vote such shares on matters deemed &ldquo;non-routine,&rdquo; which will result in such shares being treated as &ldquo;broker
non-votes.&rdquo;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company believes that:</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proposal
    1 (Trust Amendment Proposal) &mdash; <i>non-routine</i></font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proposal
    2 (Adjournment Proposal) &mdash; <i>routine</i></font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accordingly,
if you hold your ordinary shares in street name, your bank or broker may not vote your shares on the Trust Amendment Proposal without
your instructions. Broker non-votes will be counted as present for purposes of determining a quorum but will not be counted as votes
cast.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Banks
and brokers may not use discretionary authority to vote ordinary shares on the Trust Amendment Proposal if they have not received voting
instructions from their clients. The Adjournment Proposal is considered a routine matter, and brokers may exercise discretionary authority
to vote on such proposal in the absence of instructions.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Because
approval of the Trust Amendment Proposal requires the affirmative vote of at least sixty-five percent (65%) of the Company&rsquo;s then
outstanding ordinary shares, broker non-votes will have the same effect as votes &ldquo;AGAINST&rdquo; such proposal. Shareholders are
therefore encouraged to submit voting instructions to ensure that their shares are represented at the Special Meeting.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Required
Votes for Each Proposal to Pass</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assuming
the presence of a quorum at the Special Meeting:</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 18%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Proposal</b></font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 68%; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Vote
    Required</b></font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 12%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Broker</b></font></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Discretionary</b></font></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Vote
    Allowed</b></font></P></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trust
    Amendment</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Affirmative
    vote of at least sixty-five percent (65%) of the Company&rsquo;s issued and outstanding ordinary shares, voting together as a single
    class.</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">No</font></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; background-color: white">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adjournment</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Majority
    of the outstanding shares represented by virtual attendance or by proxy and entitled to vote thereon at the Special Meeting</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Factors
to Consider</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
you consider the recommendation of the Board, you should consider, among other things, the following benefits and detriments of the proposals
to you as the public stockholders:</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">In connection with the prior shareholder approval of the Company&rsquo;s extension framework, the Company disclosed that the Sponsor would deposit US$125,000 into the Trust Account for each one-month extension period. The Trust Amendment Proposal would revise that structure to provide that, for each one-month extension, the Company will deposit into the Trust Account the lesser of (i) US$50,000 and (ii) US$0.033 for each then-outstanding public share. The Sponsor has advised the Company that it does not intend to fund monthly contributions in excess of US$50,000. Approval of the Trust Amendment Proposal would therefore enhance the Company&rsquo;s ability to exercise its existing monthly extension rights.</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of the date of this proxy statement, the Company had outstanding
unsecured working capital loans from the Sponsor and its affiliates in an aggregate principal amount of approximately US$500,000. These
loans are non-interest bearing and are payable upon the earlier of (i) the consummation of the Company&rsquo;s initial business combination
or (ii) the liquidation of the Company. If the Company consummates an initial business combination, such loans are expected to be repaid
at the closing of the business combination, which would reduce the funds available to the post-combination company by a corresponding
amount. No funds held in the Trust Account will be used to repay such loans if the Company does not complete an initial business combination
and instead liquidates.</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif;"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the Company&rsquo;s existing Charter and
Trust Agreement, the Company may extend its deadline to consummate an initial business combination on a monthly basis upon the deposit
of a specified contribution into the Trust Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the prior shareholder approval
of the Company&rsquo;s extension framework, the Company disclosed that the Sponsor would deposit US$125,000 into the Trust Account for
each one-month extension period. The Trust Amendment Proposal would revise that structure to provide that, for each one-month extension,
the Company will deposit into the Trust Account the lesser of (i) US$50,000 and (ii) US$0.033 for each then-outstanding public share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="text-align: justify; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">Any Monthly Contribution made by the Sponsor, its affiliates or its
designees in connection with a monthly extension would be structured as a non-interest-bearing, unsecured loan to the Company, repayable
only upon the consummation of an initial business combination. If the Company consummates an initial business combination, such loans
are expected to be repaid at closing, which would reduce the funds available to the post-combination company by a corresponding amount.
No funds held in the Trust Account will be used to repay such loans if the Company does not complete an initial business combination and
instead liquidates.</P>

</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Public
    stockholders may seek to have their shares redeemed regardless of whether they vote for or against the proposals and whether or not
    they are holders of our common stock as of the Record Date. (See &ldquo;Conversion Rights&rdquo; below).</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each redemption of Public Shares will reduce the amount of funds held in the Trust Account, which held approximately US$37,385,608.09
in marketable securities as of February 20, 2026, and consequently will decrease the funds available for a future business combination.</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Interests
of the Company&rsquo;s Directors and Officers</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
you consider the recommendation of the Board, you should keep in mind that the Sponsor and our officers and directors have interests
that may be different from, or in addition to, your interests as a stockholder. These interests include, among other things:</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">In connection with the prior shareholder approval of the Company&rsquo;s extension framework, the Company disclosed that the Sponsor would deposit US$125,000 into the Trust Account for each one-month extension period. The Trust Amendment Proposal would revise that structure to provide that, for each one-month extension, the Company will deposit into the Trust Account the lesser of (i) US$50,000 and (ii) US$0.033 for each then-outstanding public share. The Sponsor has advised the Company that it does not intend to fund monthly contributions in excess of US$50,000. Approval of the Trust Amendment Proposal would therefore reduce the Sponsor&rsquo;s potential funding obligation in connection with any future monthly extensions. Any Monthly Contributions made by the Sponsor, its affiliates or its designees would be structured as non-interest-bearing, unsecured loans repayable only upon the consummation of an initial business combination. If the Company consummates an initial business combination, such loans are expected to be repaid at closing, which would reduce the funds available to the post-combination company. If the Company does not complete an initial business combination and instead liquidates, the Sponsor would not be repaid for any such loans from the Trust Account;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unless
    the Company consummates an initial business combination, the Company&rsquo;s officers and directors and the Sponsor will not receive
    reimbursement for any out-of-pocket expenses incurred by them to the extent that such expenses exceed the amount of available proceeds
    from the IPO and private placement not deposited in the Trust Account;</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With
    certain limited exceptions, 50% of the Founder Shares will not be transferred, assigned, sold or released from escrow until the earlier
    of (i) six months after the consummation of our initial business combination or (ii) the date on which the closing price of our Class
    A ordinary shares equals or exceeds $12.50 per share (as adjusted for share splits, share dividends, reorganizations, recapitalizations
    or other similar transactions) for any 20 trading days within any 30-trading day period commencing after our initial business combination.
    The remaining 50% of the Founder Shares will not be transferred, assigned, sold or released from escrow until six months after the
    consummation of our initial business combination, or earlier in either case if, following our initial business combination, the Company
    completes a liquidation, merger, share exchange or other similar transaction that results in all of our public shareholders having
    the right to exchange their ordinary shares for cash, securities or other property;</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    Sponsor will benefit from the completion of a business combination and may be incentivized to complete an acquisition of a less favorable
    target company or on terms less favorable to public stockholders rather than liquidate;</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Because
    of these interests, the Sponsor and the Company&rsquo;s directors and officers could benefit from the completion of an initial business
    combination even if the transaction is not favorable to the Company&rsquo;s public shareholders. They may therefore be incentivized
    to complete a business combination with a less favorable target or on terms less favorable to public shareholders rather than liquidate.
    In particular, based on the Sponsor&rsquo;s purchase price of $0.0087 per Founder Share, as compared to the $10.00 price paid by
    public investors for each unit in the IPO, the Sponsor may achieve a positive return on its investment even if the trading price
    of the Company&rsquo;s Class A ordinary shares following the initial business combination is substantially below the IPO price, while
    public shareholders could experience a negative return;</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    Sponsor and the Company&rsquo;s directors and officers purchased an aggregate of 1,250,000 Founder Shares for $25,000 in the aggregate
    (or approximately $0.008 per share). Based on the $10.00 per share valuation used to determine the merger consideration in connection
    with a potential initial business combination, these Founder Shares could have a value of approximately $12.5 million at the time
    of the business combination. As a result, the Sponsor and the Company&rsquo;s directors and officers could realize a substantial
    return on their investment even if public shareholders experience significant losses following the business combination. In addition,
    the Founder Shares have no redemption rights and will be worthless if the Company does not complete an initial business combination
    and instead liquidates;</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    fact that the Sponsor currently holds 220,000 Private Placement Units, which were purchased at a price of $10.00 per unit, for an
    aggregate purchase price of $2,200,000. These securities have no redemption rights upon the Company&rsquo;s liquidation and will
    be worthless if the Company does not consummate an initial business combination; and</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    fact that the Sponsor has agreed not to redeem any of its Founder Shares or Private Placement securities in connection with any shareholder
    vote to approve an initial business combination.</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additionally,
if the Trust Amendment Proposal is approved and the Company subsequently consummates an initial business combination, our officers and
directors may have interests in such business combination that are different from, or in addition to, the interests of public shareholders.
Any such interests will be described in the proxy statement or other applicable disclosure document prepared in connection with the proposed
business combination.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>We
may not be able to complete an initial business combination with a U.S. target company since such initial business combination may be
subject to U.S. foreign investment regulations and review by a U.S. government entity such as the Committee on Foreign Investment in
the United States (&ldquo;<u>CFIUS</u>&rdquo;), or ultimately prohibited.</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
of our directors and officers may not be citizens of the United States, and the Sponsor is a non-U.S. entity. Although we do not believe
that the nature of our business or that of a potential target necessarily makes any initial business combination subject to review by
the Committee on Foreign Investment in the United States (&ldquo;CFIUS&rdquo;), it is possible that CFIUS could determine that our proposed
initial business combination is within its jurisdiction. Under the Foreign Investment Risk Review Modernization Act of 2018 (&ldquo;FIRRMA&rdquo;)
and its implementing regulations, CFIUS has authority to review certain non-passive, non-controlling investments in U.S. businesses involving
critical technology, critical infrastructure, or sensitive personal data, as well as certain real estate transactions, and some categories
of transactions require mandatory filings. If our initial business combination falls within CFIUS&rsquo;s jurisdiction, we may be required
to submit a mandatory filing, elect to make a voluntary notice, or proceed without notifying CFIUS and risk CFIUS intervention before
or after closing. CFIUS may delay, impose mitigation conditions on, or prohibit the completion of our initial business combination, or
may require the combined company to divest certain assets. As a result, we may be unable to complete an otherwise advantageous business
combination or may be prevented from pursuing certain target companies, which could limit our pool of potential targets and place us
at a competitive disadvantage relative to other special purpose acquisition companies that do not have similar foreign ownership considerations.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Moreover, any government
review process, whether by CFIUS or another U.S. governmental authority, could be lengthy, and the Company has a limited amount of time
to complete its initial business combination. If we are unable to complete our initial business combination by January 16, 2027 (the
&ldquo;Termination Date&rdquo;), and any applicable regulatory review extends beyond such timeframe or ultimately results in the proposed
business combination being prohibited or subject to mitigation measures that are unacceptable to the Company or the target, we may be
required to liquidate. In such event, public shareholders would lose the opportunity to invest in a target company and the chance to
realize any future gains through price appreciation of the combined company&rsquo;s Class A ordinary shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>If
we were deemed to be an investment company for purposes of the Investment Company Act of 1940, as amended (the &ldquo;<u>Investment Company
Act</u>&rdquo;), we may be forced to abandon our efforts to complete an initial business combination and instead be required to liquidate
the Company. To avoid that result, we may determine, in our discretion, to liquidate the securities held in the trust account.</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
is currently uncertainty concerning the applicability of the Investment Company Act to a special purpose acquisition company (&ldquo;SPAC&rdquo;)
and we may in the future be subject to a claim that we have been operating as an unregistered investment company. If we are deemed to
be an investment company for purposes of the Investment Company Act, we might be forced to abandon our efforts to complete an initial
business combination and instead be required to liquidate. If we are required to liquidate, our investors would not be able to realize
the benefits of owning stock in a successor operating business, including the potential appreciation in the value of our stock and warrants
following such a transaction, and our warrants would expire worthless.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
funds in the Trust Account have, since our initial public offering, been held only in U.S. government securities within the meaning of
Section 2(a)(16) of the Investment Company Act, with a maturity of 185 days or less, or in money market funds that invest solely in U.S.
government treasury obligations and that comply with the conditions of Rule 2a-7 under the Investment Company Act. To mitigate the risk
that the Company could be deemed to be operating as an unregistered investment company (including under the subjective &ldquo;investment
company&rdquo; test in Section 3(a)(1)(A) of the Investment Company Act), the Company may, in its discretion, instruct Odyssey Trust
Company, the trustee of the Trust Account, to liquidate the U.S. government securities or money market funds held in the Trust Account
and hold all funds in cash until the completion of an initial business combination. If we take this action, the amount of funds available
for redemption would no longer increase through interest, which may reduce the per-share amount received by public shareholders upon
redemption or liquidation.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, the longer that funds in the Trust Account are invested in short-term U.S. government securities or in money market funds that
hold such securities, the greater the risk that the Company could be considered an unregistered investment company. If the Company were
deemed an unregistered investment company, it might be required to liquidate. Accordingly, the Company may determine, in its discretion,
to liquidate the securities held in the Trust Account at any time and maintain the Trust Account in cash until the completion of an initial
business combination.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The
Company may be affected by the Excise Tax included in the Inflation Reduction Act of 2022.</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
August 16, 2022, the IR Act became law and, among other things, imposed a 1% excise tax on certain repurchases of stock by a &ldquo;covered
corporation&rdquo; occurring after December 31, 2022 (the &ldquo;Excise Tax&rdquo;). The Excise Tax generally applies to repurchases
of stock by U.S. corporations whose securities are traded on an established securities market, and may also apply to repurchases by certain
non-U.S. corporations that are treated as &ldquo;surrogate foreign corporations&rdquo; or that engage in repurchases that are funded
by, or effectively treated as repurchases by, an affiliated U.S. corporation.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Although the Company is a Cayman Islands exempted company and therefore is not itself a &ldquo;covered corporation,&rdquo; the Excise
Tax could nevertheless apply to redemptions of our Class A ordinary shares in connection with an initial business combination, an amendment
to our Second Amended and Restated Memorandum and Articles of Association (the &ldquo;Charter&rdquo;), an extension vote or otherwise,
if such redemptions are viewed as repurchases that fall within the scope of the IR Act or any implementing Treasury guidance. The application
of the Excise Tax to redemptions by non-U.S. corporations remains uncertain and may be affected by future regulations or other guidance
issued by the U.S. Department of the Treasury (&ldquo;Treasury&rdquo;), which has broad authority to implement, interpret and prevent
the avoidance of the Excise Tax.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
the Excise Tax applies, it would be payable by the Company and not by redeeming shareholders. Issuances of securities by the Company
in the same taxable year as redemptions, for example, in connection with a PIPE financing or other equity issuances, may reduce the amount
of any Excise Tax due. However, there can be no assurance that any such issuances would offset the full amount of any potential liability.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Whether
and to what extent the Company would be subject to the Excise Tax in connection with a business combination, an extension vote or otherwise
would depend on a number of factors, including: (i) the fair market value of any redemptions or repurchases; (ii) the structure of the
initial business combination; (iii) the nature and amount of any &ldquo;PIPE&rdquo; or other equity issuances effected in the same taxable
year; and (iv) the content of future regulations or other guidance issued by Treasury. Consequently, the potential applicability of the
Excise Tax may make a transaction with the Company less attractive to potential business combination targets. Based on interim guidance
issued by the Internal Revenue Service and Treasury in Notice 2023-2, and subject to certain exceptions, the Excise Tax should not apply
in the event of the Company&rsquo;s complete liquidation.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Payment
of the Excise Tax if the Company is subject to the Excise Tax.</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
will not be permitted to use any portion of the funds held in the Trust Account, including any interest earned thereon, to pay any Excise
Tax that may be imposed under the IR Act in connection with redemptions of our Class A ordinary shares or any other repurchases by the
Company.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Voting
Procedures</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
ordinary share that you own in your name entitles you to one vote on each of the proposals for the Special Meeting. Your proxy card indicates
the number of ordinary shares you hold of record.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">You
    may vote your shares in advance of the Special Meeting by completing, signing, dating, and returning the enclosed proxy card in the
    postage-paid envelope provided. If your ordinary shares are held in &ldquo;street name&rdquo; through a broker, bank, or other nominee,
    you must follow the voting instructions provided by that intermediary to ensure that your shares are represented and voted at the
    Special Meeting. If you vote using the proxy card, your proxy holder will vote your shares as you instruct on the proxy card. If
    you sign and return the proxy card but do not provide specific voting instructions, your shares will be voted in accordance with
    the Board&rsquo;s recommendations. The Board recommends voting &ldquo;FOR&rdquo; Proposal 1 (Trust Amendment Proposal) and &ldquo;FOR&rdquo;
    Proposal 2 (Adjournment Proposal.</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">You
    may attend the Special Meeting virtually and vote electronically, even if you have already submitted a proxy. However, if your ordinary
    shares are held in the name of a broker, bank or other nominee, you must obtain a legal proxy from that intermediary in order to
    vote at the Special Meeting. This is the only way we can ensure that the broker, bank or nominee has not already voted your shares.</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Solicitation
of Proxies</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Your
proxy is being solicited by the Board on the proposals being presented to shareholders at the Special Meeting. The Company has agreed
to pay Advantage Proxy, our proxy solicitor, a customary fee of $8,500, plus reimbursement of its reasonable out-of-pocket expenses,
in connection with the Special Meeting. The Company will reimburse Advantage Proxy for such expenses and will indemnify Advantage Proxy
and its affiliates against certain claims, liabilities, losses, damages, and expenses. In addition to these mailed proxy materials, our
directors and officers may also solicit proxies in person, by telephone, or by other means of communication. These parties will not be
paid any additional compensation for soliciting proxies. We may also reimburse brokerage firms, banks, and other agents for the cost
of forwarding proxy materials to beneficial owners. You may contact Advantage Proxy at:</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Advantage
Proxy, Inc.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">PO
Box 10904</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yakima,
WA 98909</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Toll
Free: 877-870-8565</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Collect:
206-870-8565</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
cost of preparing, assembling, printing and mailing this Proxy Statement and the accompanying form of proxy, and the cost of soliciting
proxies relating to the Special Meeting, will be borne by the Company.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Some
banks and brokers have customers who beneficially own common stock listed of record in the names of nominees. We intend to request banks
and brokers to solicit such customers and will reimburse them for their reasonable out-of-pocket expenses for such solicitations. If
any additional solicitation of the holders of our outstanding common stock is deemed necessary, we (through our directors and officers)
anticipate making such solicitation directly.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Delivery
of Proxy Materials to Households</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Only
one copy of this Proxy Statement will be delivered to an address where two or more stockholders reside with the same last name or whom
otherwise reasonably appear to be members of the same family based on the stockholders&rsquo; prior express or implied consent.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
will promptly deliver a separate copy of this Proxy Statement upon written or oral request. If you share an address with at least one
other shareholder and currently receive only one copy of our Proxy Statement, and you would like to receive separate copies of future
proxy materials, please send a written request to: Ribbon Acquisition Corp., Central Park Tower LaTour Shinjuku, Room 3001, 6-15-1 Nishi
Shinjuku, Shinjuku-ku, Tokyo 160-0023, Japan, Attn: Secretary, Telephone: +81-90-8508-3462.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
you share an address with at least one other shareholder and currently receive multiple copies of our proxy materials, and you would
like to receive only a single copy of future proxy materials, please send a written request to the same address.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Redemption
Rights</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to our Second Amended and Restated Memorandum and Articles of Association, holders of our public shares may elect to redeem all or a portion of their public shares for cash at
a per-share price, payable in cash, equal to the pro rata portion of the aggregate amount then on deposit in the Trust Account (including
interest earned thereon, net of permitted withdrawals for taxes), calculated as of two business days prior to the Special Meeting. Public
shareholders may exercise their redemption rights regardless of whether they vote &ldquo;FOR&rdquo; or &ldquo;AGAINST&rdquo; the Trust
Amendment Proposal, and regardless of whether they are holders of record as of the Record Date. If you properly exercise your redemption
rights, your redeemed public shares will cease to be outstanding and you will retain only the right to receive the per-share redemption
amount from the Trust Account.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For illustrative purposes only, as of February 20, 2026, the Trust Account held approximately US$37,385,608.09, which would have resulted
in an estimated per-share redemption price of approximately US$10.49 (including interest earned and after deduction of permitted tax withdrawals).
The actual per-share redemption price will be calculated two (2) business days prior to the Special Meeting and may differ from this illustrative
amount.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
order to exercise your redemption rights, you must:</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">submit a request in writing prior to 5:00 p.m., Eastern time on March 10, 2026 (two business days before the Special Meeting) that we convert your Public Shares for cash to Odyssey Transfer and Trust Company, our transfer agent, at the following address:</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Odyssey
Transfer and Trust Company</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn:
Client Services / SPAC Redemptions</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2155
Woodlane Drive, Suite 100</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Woodbury,
MN 55125</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">E-mail:
redemptions@odysseytrust.com</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">deliver
    your public shares to our transfer agent, Odyssey Transfer and Trust Company, either (i) electronically through The Depository Trust
    Company (&ldquo;DTC&rdquo;) or (ii) by delivering physical share certificates (if any), no later than 5:00 p.m. Eastern Time, two
    business days prior to the Special Meeting. Shareholders who wish to submit physical certificates should allow sufficient time to
    obtain such certificates from the transfer agent and effect delivery. Although timing varies, shareholders should generally allow
    at least two weeks to obtain physical certificates; however, this process is controlled entirely by the transfer agent and may take
    longer. Shareholders who hold their public shares in &ldquo;street name&rdquo; through a broker, bank or other nominee will need
    to coordinate with their intermediary to ensure timely DTC delivery or to have the shares certificated and delivered. If you do not
    submit a written redemption request and deliver your public shares as described above, your shares will not be redeemed.</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
demand for redemption, once made, may be withdrawn at any time until the deadline for exercising redemption requests (and submitting
shares to the transfer agent) and thereafter, with our consent. If you delivered your shares for redemption to our transfer agent and
decide within the required timeframe not to exercise your redemption rights, you may request that our transfer agent return the shares
(physically or electronically). You may make such request by contacting our transfer agent at the phone number or address listed above.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior
to exercising redemption rights, shareholders should verify the market price of our Class A ordinary shares, as they may receive higher
proceeds from selling their ordinary shares in the public market than from exercising their redemption rights if the market price per
share is higher than the redemption price. We cannot assure you that you will be able to sell your ordinary shares in the open market,
even if the market price per share is higher than the redemption price stated above, as there may not be sufficient liquidity in our
securities when you wish to sell your shares.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
you exercise your redemption rights, your redeemed ordinary shares will cease to be outstanding immediately prior to the Special Meeting
(assuming the Trust Amendment Proposal is approved) and will only represent the right to receive a pro rata portion of the aggregate
amount on deposit in the Trust Account. You will no longer own those shares and will have no right to participate in, or have any interest
in, the future growth of the Company, if any. You will be entitled to receive cash for those shares only if you properly and timely request
redemption.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
the Trust Amendment Proposal is not approved and the Company does not consummate an initial business combination by the deadline set
forth in the Company&rsquo;s Second Amended and Restated Memorandum and Articles of Association (the &ldquo;Charter&rdquo;), the Company
will be required to wind up and liquidate in accordance with the Charter. In such event, the Company will, as promptly as reasonably
practicable, liquidate the Trust Account and distribute the funds then held in the Trust Account to the Company&rsquo;s public shareholders.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon
liquidation, the Company&rsquo;s public rights will expire worthless, as they will not entitle holders to any distribution upon the dissolution
of the Company.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Holders
of outstanding units must separate the units into the underlying public shares and public rights before exercising redemption rights
with respect to the public shares.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
you hold units registered in your own name, you must deliver the certificate representing such units to Odyssey Transfer and Trust Company
together with written instructions requesting that the units be separated into the underlying public shares and public rights. This must
be completed far enough in advance to permit the delivery of the public share position back to you so that you may then exercise your
redemption rights with respect to the public shares once the units have been separated.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
your units are held in &ldquo;street name&rdquo; by a broker, dealer, commercial bank, trust company or other nominee, you must instruct
the nominee to separate your units. Your nominee must send written instructions to Odyssey Transfer and Trust Company specifying the
number of units to be split and identifying the nominee holding such units. Your nominee must also initiate electronically, using DTC&rsquo;s
Deposit/Withdrawal at Custodian (&ldquo;DWAC&rdquo;) system, a withdrawal of the units and a corresponding deposit of an equal number
of public shares (and public rights, as applicable). Although this process is typically completed electronically on the same business
day, you should allow at least one full business day to ensure that the units are separated in time. If you do not cause your units to
be separated into public shares in a timely manner, you will not be able to exercise your redemption rights.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SECURITY
OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The following table sets
forth certain information with respect to the beneficial ownership of our voting securities by (i) each person who is known by us to
be the beneficial owner of more than 5% of our issued and outstanding shares of common stock, (ii) each of our officers and directors,
and (iii) all of our officers and directors as a group, as of February 18, 2026 (the Record Date).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Unless otherwise indicated,
we believe that all persons named in the table have sole voting and investment power with respect to all ordinary shares beneficially
owned by them. The table below does not reflect record or beneficial ownership of any Class A ordinary shares issuable upon the conversion
of rights, as such rights are not convertible within 60 days of the Record Date. The percentage ownership information presented below
is based on 4,813,133 ordinary shares outstanding as of the Record Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name and Address of Beneficial Owner<SUP>(1)</SUP></B></FONT></TD><TD STYLE="text-align: center; font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-weight: bold; border-bottom: Black 1.5pt solid">Amount and<BR>
 Nature of<BR>
 Beneficial<BR>
 Ownership</TD><TD STYLE="text-align: center; padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="text-align: center; font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-weight: bold; border-bottom: Black 1.5pt solid">Approximate<BR>
 Percentage&nbsp;of<BR>
 Outstanding<BR>
 Common<BR>
 Stock</TD><TD STYLE="text-align: center; padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left">Angshuman (Bubai) Ghosh</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">1,470,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">22.7</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Satoshi Kaminaga</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Wen-Chen Chang</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Masayuki Horie</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Kazuhisa Honjo</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">All current directors and executive officers as a group (five individuals)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,470,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22.7</TD><TD STYLE="text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Five Percent Holders of Ribbon</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ribbon Investment Company Ltd.<SUP>(2)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,470,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22.7</TD><TD STYLE="text-align: left">%</TD></TR>
  </TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">less
    than 1%.</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unless
    otherwise noted, the business address of each beneficial owner is Central Park Tower LaTour Shinjuku, Room 3001, 6-15-1 Nishi Shinjuku,
    Shinjuku-ku, Tokyo 160-0023, Japan.</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ribbon
    Investment Company Ltd. is the Sponsor. Angshuman (Bubai) Ghosh is the sole director/manager of the Sponsor and may be deemed to
    have beneficial ownership of the securities held by the Sponsor.</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>United
States Federal Income Tax Considerations for Stockholders Exercising Conversion Rights</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>THE
FOLLOWING DISCUSSION IS FOR GENERAL INFORMATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSTRUED AS TAX ADVICE. YOU ARE URGED TO CONSULT YOUR
OWN TAX ADVISOR WITH RESPECT TO THE SPECIFIC TAX CONSEQUENCES TO YOU OF MAKING OR NOT MAKING THE ELECTION, INCLUDING THE EFFECTS OF U.S.
FEDERAL, STATE, LOCAL AND NON-U.S. TAX RULES AND POSSIBLE CHANGES IN LAWS THAT MAY AFFECT THE TAX CONSEQUENCES DESCRIBED IN THIS PROXY
STATEMENT.</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>U.S.
Holders</i></b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
section applies to you if you are a &ldquo;U.S. holder.&rdquo; A U.S. holder is a beneficial owner of our shares of Common Stock who
or that is, for U.S. federal income tax purposes:</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    individual who is a citizen or resident of the United States;</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
    corporation (or other entity taxable as a corporation for U.S. federal income tax purposes) organized in or under the laws of the
    United States, any state thereof or the District of Columbia;</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    estate the income of which is subject to U.S. federal income tax purposes regardless of its source; or</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
    trust, if (A) a court within the United States is able to exercise primary supervision over the administration of such trust and
    one or more &ldquo;United States persons&rdquo; (within the meaning of the Code) have the authority to control all substantial decisions
    of the trust or (B) the trust validly elected to be treated as a United States person for U.S. federal income tax purposes.</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Taxation
of Distributions. </i>If a U.S. holder&rsquo;s conversion of shares of Common Stock is treated as a distribution, such distributions
will generally constitute a dividend for U.S. federal income tax purposes to the extent paid from our current or accumulated earnings
and profits, as determined under U.S. federal income tax principles. Distributions in excess of current and accumulated earnings and
profits will constitute a return of capital that will be applied against and reduce (but not below zero) the U.S. holder&rsquo;s adjusted
tax basis in our Common Stock. Any remaining excess will be treated as gain realized on the sale or other disposition of the Common Stock
and will be treated as described below under the section entitled &ldquo;<i>&mdash; U.S. Holders &mdash; Gain or Loss on Sale, Taxable
Exchange or Other Taxable Disposition of Common Stock</i>.&rdquo;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dividends
received by a U.S. holder that is a taxable corporation will generally qualify for the dividends received deduction if the requisite
holding period is satisfied. With certain exceptions (including, but not limited to, dividends treated as investment income for purposes
of investment interest deduction limitations), and provided certain holding period requirements are met, dividends received by a non-corporate
U.S. holder will generally constitute &ldquo;qualified dividends&rdquo; that will be subject to tax at the maximum tax rate applicable
to long-term capital gains.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Gain
or Loss on Sale, Taxable Exchange or Other Taxable Disposition of Common Stock.</i> If a U.S. holder&rsquo;s conversion of shares of
Common Stock is treated as a sale or other taxable disposition, a U.S. holder will generally recognize capital gain or loss in an amount
equal to the difference between the amount realized and the U.S. holder&rsquo;s adjusted tax basis in the shares of Common Stock converted.
Any such capital gain or loss will generally be long-term capital gain or loss if the U.S. holder&rsquo;s holding period for the Common
Stock so disposed of exceeds one year. Long-term capital gains recognized by non-corporate U.S. holders will be eligible to be taxed
at reduced rates. The deductibility of capital losses is subject to limitations.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Generally,
the amount of gain or loss recognized by a U.S. holder is an amount equal to the difference between (i) the sum of the amount of cash
and the fair market value of any property received in such disposition and (ii) the U.S. holder&rsquo;s adjusted tax basis in its Common
Stock so disposed of. A U.S. holder&rsquo;s adjusted tax basis in its Common Stock will generally equal the U.S. holder&rsquo;s acquisition
cost less any prior distributions paid to such U.S. holder with respect to its shares of Common Stock treated as a return of capital.
If the holder purchased an investment unit consisting of both shares and warrants, the cost of such unit must be allocated between the
shares and warrants that comprised such unit based on their relative fair market values at the time of the purchase. Calculation of gain
or loss must be made separately for each block of shares owned by a U.S. holder. Any U.S. holder who has tendered all of his actually
owned shares for conversion but continues to hold warrants after the conversion will generally not be considered to have experienced
a complete termination of his interest in the Company.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Non-U.S.
Holders</i></b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
section applies to you if you are a &ldquo;<i>non-U.S. holder</i>.&rdquo; A non-U.S. holder is a beneficial owner of our Common Stock
who or that is, for U.S. federal income tax purposes:</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
    non-resident alien individual, other than certain former citizens and residents of the United States subject to U.S. tax as expatriates;</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
    foreign corporation; or</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    estate or trust that is not a U.S. holder;</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">but
does not include an individual who is present in the United States for 183 days or more in the taxable year of disposition. If you are
such an individual, you should consult your tax advisor regarding the U.S. federal income tax consequences of a conversion.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Taxation
of Distributions. </i>If a non-U.S. holder&rsquo;s conversion of shares of Common Stock is treated as a distribution, to the extent paid
out of our current or accumulated earnings and profits (as determined under U.S. federal income tax principles), such distribution will
constitute a dividend for U.S. federal income tax purposes and, provided such dividend is not effectively connected with the non-U.S.
holder&rsquo;s conduct of a trade or business within the United States, we will be required to withhold tax from the gross amount of
the dividend at a rate of thirty percent (30%), unless such non-U.S. holder is eligible for a reduced rate of withholding tax under an
applicable income tax treaty and timely provides proper certification of its eligibility for such reduced rate (usually on an IRS Form
W- 8BEN or W-8BEN-E). Any distribution not constituting a dividend will be treated first as reducing (but not below zero) the non-U.S.
holder&rsquo;s adjusted tax basis in its shares of our Common Stock and, to the extent such distribution exceeds the non-U.S. holder&rsquo;s
adjusted tax basis, as gain realized from the sale or other disposition of the Common Stock, which will be treated as described below
under the section entitled &ldquo;<i>&mdash; Non-U.S. holders &mdash; Gain on Sale, Taxable Exchange or Other Taxable Disposition of
Common Stock</i>.&rdquo;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
withholding tax described above does not apply to a dividend paid to a non-U.S. holder who provides an IRS Form W-8ECI, certifying that
such dividend is effectively connected with the non-U.S. holder&rsquo;s conduct of a trade or business within the United States. Instead,
the effectively connected dividend will be subject to regular U.S. federal income tax as if the non-U.S. holder were a U.S. holder, subject
to an applicable income tax treaty providing otherwise. A non-U.S. holder that is a corporation for U.S. federal income tax purposes
and is receiving effectively connected dividends may also be subject to an additional &ldquo;branch profits tax&rdquo; imposed at a rate
of thirty percent (30%) (or a lower applicable treaty rate).</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Gain
on Sale, Taxable Exchange or Other Taxable Disposition of Common Stock. </i>If a non-U.S. holder&rsquo;s conversion shares of Common
Stock is treated as a sale or other taxable disposition, subject to the discussions of FATCA and backup withholding, below a non-U.S.
holder will generally not be subject to U.S. federal income or withholding tax in respect of gain recognized on a sale, taxable exchange
or other taxable disposition of our Common Stock, unless:</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    gain is effectively connected with the conduct of a trade or business by the non-U.S. holder within the United States (and, under
    certain income tax treaties, is attributable to a United States permanent establishment or fixed base maintained by the non-U.S.
    holder); or</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">we
    are or have been a &ldquo;United States real property holding corporation&rdquo; for U.S. federal income tax purposes at any time
    during the shorter of the five-year period ending on the date of disposition or the period that the non-U.S. holder held our Common
    Stock, and, in the case where shares of our Common Stock are regularly traded on an established securities market, the non-U.S. holder
    has owned, directly or constructively, more than 5% of our Common Stock at any time within the shorter of the five-year period preceding
    the disposition or such non-U.S. holder&rsquo;s holding period for the shares of our Common Stock.</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unless
an applicable treaty provides otherwise, gain described in the first bullet point above will be subject to tax at generally applicable
U.S. federal income tax rates as if the non-U.S. holder were a U.S. resident. In the event the non-U.S. holder is a corporation for U.S.
federal income tax purposes, such gain may also be subject to an additional &ldquo;branch profits tax&rdquo; at a thirty percent (30%)
rate (or lower treaty rate).</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
the second bullet point above applies to a non-U.S. holder, gain recognized by such holder on the sale, exchange or other taxable disposition
of shares of our Common Stock will be subject to tax at generally applicable U.S. federal income tax rates. In addition, unless our Common
Stock is regularly traded on an established securities market, a buyer of our Common Stock (we would be treated as a buyer with respect
to a conversion of Common Stock) may be required to withhold U.S. federal income tax at a rate of fifteen percent (15%) of the amount
realized upon such disposition. There can be no assurance that our Common Stock will be treated as regularly traded on an established
securities market. We believe that we are not and have not been at any time since our formation a United States real property holding
company and we do not expect to be a United States real property holding corporation immediately after the Charter Extension is completed.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>FATCA
Withholding Taxes.</i> Provisions commonly referred to as &ldquo;FATCA&rdquo; impose withholding of thirty percent (30%) on payments
of dividends (including constructive dividends received pursuant to a conversion of stock) on our Common Stock to &ldquo;foreign financial
institutions&rdquo; (which is broadly defined for this purpose and in general includes investment vehicles) and certain other non-U.S.
entities unless various U.S. information reporting and due diligence requirements (generally relating to ownership by U.S. persons of
interests in or accounts with those entities) have been satisfied, or an exemption applies (typically certified as to by the delivery
of a properly completed IRS Form W-8BEN or W-8BEN-E). Foreign financial institutions located in jurisdictions that have an intergovernmental
agreement with the United States governing FATCA may be subject to different rules. non-U.S. holders should consult their tax advisors
regarding the effects of FATCA on a conversion of Common Stock.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Information
Reporting and Backup Withholding</i></b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Generally,
information returns will be filed with the IRS in connection with payments resulting from a conversion shares of Common Stock.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Backup
withholding of tax may apply to cash payments to which a non-U.S. holder is entitled in connection with a conversion of shares of Common
Stock, unless the non-U.S. holder submits an IRS Form W-8BEN (or other applicable IRS Form W-8), signed under penalties of perjury, attesting
to such non-U.S. holder&rsquo;s status as non-U.S. person.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
amount of any backup withholding from a payment to a non-U.S. holder will be allowed as a credit against such holder&rsquo;s U.S. federal
income tax liability and may entitle such holder to a refund, provided that the required information is timely furnished to the IRS.
Non-U.S. holders should consult their own tax advisors regarding the availability of such a credit or refund and the procedures for obtaining
them.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PROPOSAL
1: THE TRUST AMENDMENT PROPOSAL</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The
Trust Amendment</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Trust Amendment Proposal
seeks shareholder approval of Amendment No. 2 to the Company&rsquo;s Investment Management Trust Agreement, dated January 14, 2025, by
and between the Company and Odyssey Transfer and Trust Company, as trustee (the &ldquo;Trustee&rdquo;), as amended by Amendment No. 1
dated January 9, 2026 (the &ldquo;Trust Agreement&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In connection with prior
shareholder approval of the Company&rsquo;s extension framework, the Company disclosed that its sponsor, Ribbon Investment Company Ltd.
(the &ldquo;Sponsor&rdquo;), would deposit US$125,000 into the Trust Account for each one-month extension period. The Trust Amendment
Proposal would amend the Trust Agreement to provide that, for each one-month extension of the Company&rsquo;s deadline to consummate an
initial business combination, the Company will deposit into the Trust Account the lesser of (i) US$50,000 and (ii) US$0.033 for each then-outstanding
public share (each, a &ldquo;Monthly Contribution&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Approval of the Trust Amendment
Proposal would not modify the Company&rsquo;s deadline to consummate an initial business combination and would not amend the Company&rsquo;s
Amended and Restated Memorandum and Articles of Association (the &ldquo;Charter&rdquo;). The proposal relates solely to the amount of
the Monthly Contribution required in connection with each one-month extension under the Trust Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">A copy of the proposed Trust
Amendment is attached to this proxy statement as Annex A. Shareholders are encouraged to read the proposed amendment in its entirety
for a complete description of its terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Reasons
for the Trust Amendment</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in">The
purpose of the Trust Amendment Proposal is to revise the amount of the monthly contribution required to be deposited into the Trust Account
in connection with each one-month extension of the Company&rsquo;s deadline to consummate an initial business combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In connection with prior
shareholder approval of the Company&rsquo;s extension framework, the Company disclosed that its sponsor, Ribbon Investment Company Ltd.
(the &ldquo;Sponsor&rdquo;), would deposit US$125,000 into the Trust Account for each one-month extension period. The Sponsor has advised
the Company that it does not intend to fund monthly contributions in excess of US$50,000 per month. Accordingly, the Trust Amendment Proposal
would amend the Trust Agreement to provide that, for each one-month extension, the Company will deposit into the Trust Account the lesser
of (i) US$50,000 and (ii) US$0.033 for each then-outstanding public share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Approval of the Trust Amendment
Proposal would provide the Company with flexibility to exercise its existing monthly extension rights under the Trust Agreement. The Trust
Amendment Proposal would not modify the Company&rsquo;s deadline to consummate an initial business combination and would not amend the
Company&rsquo;s Amended and Restated Memorandum and Articles of Association (the &ldquo;Charter&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Any monthly contributions
made by the Sponsor, its affiliates or its designees would be structured as non-interest-bearing, unsecured loans to the Company, repayable
only upon the consummation of an initial business combination. If the Company does not complete an initial business combination and instead
liquidates, such loans would not be repaid from the Trust Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>If
the Trust Amendment Is Not Approved</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">If the Trust Amendment Proposal
is not approved, the Trust Agreement will continue to require a monthly contribution of US$125,000 in order for the Company to exercise
a one-month extension of its deadline to consummate an initial business combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Sponsor has advised the
Company that it does not intend to fund monthly contributions in excess of US$50,000 per month. Accordingly, if the Trust Amendment Proposal
is not approved, the Company may be unable to exercise further extensions unless the full US$125,000 contribution required under the existing
Trust Agreement is deposited by the Sponsor or another permitted contributor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">If the Company does not
exercise its extension rights and does not consummate an initial business combination by the deadline set forth in the Company&rsquo;s
Amended and Restated Memorandum and Articles of Association (the &ldquo;Charter&rdquo;), the Company will be required to cease operations,
redeem 100% of the outstanding public shares, and liquidate in accordance with the Charter and the Trust Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>If
the Trust Amendment Proposal Is Approved</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">If the Trust Amendment Proposal
is approved, Amendment No. 2 to the Trust Agreement, in the form attached as Annex A to this proxy statement, will be executed. Thereafter,
for each one-month extension of the Company&rsquo;s deadline to consummate an initial business combination, the Company will deposit into
the Trust Account the lesser of (i) US$50,000 and (ii) US$0.033 for each then-outstanding public share (each, a &ldquo;Monthly Contribution&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Approval of the Trust Amendment
Proposal will not modify the deadline set forth in the Company&rsquo;s Amended and Restated Memorandum and Articles of Association (the
&ldquo;Charter&rdquo;) to consummate an initial business combination. The Trust Account will continue to be maintained in accordance with
the Trust Agreement and will not be disbursed except in connection with (i) the completion of an initial business combination or (ii)
the Company&rsquo;s liquidation if it does not complete an initial business combination by the deadline set forth in the Charter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In connection with the Special
Meeting, public shareholders may elect (the &ldquo;Election&rdquo;) to redeem their Class A ordinary shares (&ldquo;Public Shares&rdquo;)
for a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account (including interest not previously
released to the Company to pay taxes), divided by the number of then-outstanding Public Shares, regardless of whether such public shareholders
vote &ldquo;FOR&rdquo; or &ldquo;AGAINST&rdquo; the Trust Amendment Proposal or the Adjournment Proposal. An Election may also be made
by public shareholders who do not vote, or who do not instruct their broker, bank or nominee how to vote, at the Special Meeting. Public
shareholders may make an Election regardless of whether they were shareholders as of the Record Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Required
Vote</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in">The
Trust Amendment Proposal requires the approval of a special resolution, being the affirmative vote of at least sixty-five percent (65%)
of the Company&rsquo;s issued and outstanding ordinary shares represented in person or by proxy and entitled to vote at the Special Meeting,
voting together as a single class (including the Founder Shares).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Board retains the discretion
to abandon and not implement the Trust Amendment Proposal at any time and for any reason, without any further action by the Company&rsquo;s
shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>You are not being asked to vote on any initial
business combination at this time. If the Trust Amendment is implemented and you do not elect to redeem your Public Shares in connection
with the Special Meeting, you will retain the right to vote on any initial business combination when it is submitted to shareholders
and the right to redeem your Public Shares for a pro rata portion of the funds in the Trust Account in the event such business combination
is approved and completed (provided that you make your election at least two (2) business days prior to the meeting at which the shareholders&rsquo;
vote is sought), or if the Company does not consummate an initial business combination by the deadline set forth in the Company&rsquo;s
Amended and Restated Memorandum and Articles of Association.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Recommendation</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The
Company&rsquo;s board of directors recommends that you vote &ldquo;FOR&rdquo; the Trust Amendment Proposal.</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PROPOSAL
2: THE ADJOURNMENT PROPOSAL</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Adjournment Proposal, if approved, would authorize the chairman of the Special Meeting to adjourn the Special Meeting to a later date
or dates, if necessary, to permit further solicitation of proxies in the event that there are insufficient votes to approve the Trust
Amendment Proposal at the time of the Special Meeting.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Adjournment Proposal will only be presented at the Special Meeting if, based on the tabulated votes, there are insufficient votes to
approve the Trust Amendment Proposal.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
the Adjournment Proposal is approved by a majority of the ordinary shares present in person or represented by proxy and voting on the
matter at the Special Meeting, the chairman of the Special Meeting will be authorized to adjourn the meeting to a later date or dates
to solicit additional proxies.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
the Adjournment Proposal is not approved, the chairman will not adjourn the Special Meeting for the purpose of soliciting additional
proxies.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Recommendation</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The
Board recommends that you vote &ldquo;FOR&rdquo; the Adjournment Proposal.</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>WHERE
YOU CAN FIND MORE INFORMATION</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company files annual, quarterly and current reports, proxy statements and other information with the SEC. The SEC maintains an Internet
web site that contains reports, proxy and information statements, and other information regarding issuers, including us, that file electronically
with the SEC. The public can obtain any documents that we file electronically with the SEC at <i>www.sec.gov</i>.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Proxy Statement describes the material elements of relevant exhibits and other information attached as annexes to this Proxy Statement.
Information and statements contained in this Proxy Statement are qualified in all respects by reference to the copy of the relevant document
included as an annex to this document.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">You
may obtain additional copies of this Proxy Statement, at no cost, and you may ask any questions you may have about the Extension Amendment,
the Trust Amendment or the Adjournment by contacting us at the following address or telephone number:</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ribbon
Acquisition Corp.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Central
Park Tower</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">LaTour
Shinjuku Room 3001</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6-15-1
Nishi Shinjuku, Shinjuku-ku</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tokyo
160-0023, Japan</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Telephone:
+81 90-8508-3462</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">You
may also obtain these documents at no cost by requesting them in writing or by telephone from the Company&rsquo;s proxy solicitation
agent at the following address and telephone number:</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Advantage
Proxy, Inc.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">PO
Box 10904</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yakima,
WA 98909</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Toll
Free: 877-870-8565</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Collect:
206-870-8565</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In order to receive timely
delivery of the documents in advance of the Special Meeting, you must make your request for information no later than March 5, 2026.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Annex
A</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PROPOSED
AMENDMENT</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TO
THE</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>INVESTMENT
MANAGEMENT TRUST AGREEMENT</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Amendment No. 2 (this &ldquo;Amendment&rdquo;), dated as of [&#9679;], 2026, to the Investment Management Trust Agreement (as amended,
the &ldquo;Trust Agreement&rdquo;), dated January 14, 2025, by and between Ribbon Acquisition Corp., a Cayman Islands exempted company
(the &ldquo;Company&rdquo;), and Odyssey Transfer and Trust Company, as trustee (the &ldquo;Trustee&rdquo;), is made and entered into
by and between the Company and the Trustee. Capitalized terms used but not defined herein shall have the meanings assigned to them in
the Trust Agreement.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
the Company and the Trustee are parties to the Trust Agreement;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
pursuant to the Trust Agreement, the Company may extend the deadline to consummate an initial business combination upon the deposit of
a contribution into the Trust Account in connection with each one-month extension;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
the Company desires to amend the Trust Agreement to revise the amount of the contribution required to be deposited into the Trust Account
in connection with each one-month extension; and</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
the holders of at least sixty-five percent (65%) of the Company&rsquo;s outstanding ordinary shares have approved this Amendment in accordance
with Section 7(c) of the Trust Agreement;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOW
THEREFORE, IT IS AGREED:</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.&nbsp;<b>Amendment
to Monthly Extension Contribution.</b> The Trust Agreement is hereby amended to provide that, in connection with each one-month extension
of the Company&rsquo;s deadline to consummate an initial business combination, the amount required to be deposited into the Trust Account
shall be up to US$50,000 per one-month extension.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the avoidance of doubt, this Amendment does not modify the deadline set forth in the Company&rsquo;s Second Amended and Restated Memorandum
and Articles of Association for consummating an initial business combination.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.
<b>No Other Amendments.</b> Except as expressly amended hereby, the Trust Agreement shall remain in full force and effect.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.25in; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.
<b>Effectiveness.</b> This Amendment shall become effective upon approval by the requisite vote of the Company&rsquo;s shareholders and
execution by the parties hereto.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.
<b>Counterparts.</b> This Amendment may be executed in any number of counterparts, each of which shall be deemed an original, and all
of which together shall constitute one and the same instrument. Electronic signatures shall be deemed original signatures for all purposes.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.
<b>Governing Law.</b> This Amendment shall be governed by and construed in accordance with the laws of the State of New York.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>[signature
page follows]</i></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"></P>

<!-- Field: Page; Sequence: 28; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Annex A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">IN
WITNESS WHEREOF, the parties have duly executed this Investment Management Trust Agreement as of the date first written above.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ODYSSEY TRANSFER AND TRUST COMPANY,</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">as Trustee</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 60%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 35%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rebecca Paulson</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">President</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">RIBBON
    ACQUISITION CORP.</font></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 60%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 35%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</font></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Angshuman (Bubai) Ghosh</font></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Angshuman
    (Bubai) Ghosh</font></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Executive Officer and Chairman</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"></P>

<!-- Field: Page; Sequence: 29; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Annex A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DEFINITIVE PROXY CARD</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&nbsp;</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>RIBBON
ACQUISITION CORP.</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif"><b>THIS
PROXY IS SOLICITED BY THE BOARD OF DIRECTORS</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif"><b>FOR
THE EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS TO BE HELD ON</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><B>MARCH
12, 2026</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The undersigned, revoking
any previous proxies relating to these shares, hereby acknowledges receipt of the Notice and Proxy Statement, dated February 23, 2026 in connection
with the Special Meeting to be held at 10 a.m. ET on March 12, 2026 virtually, via live webcast, for which advance registration is required.
Stockholders may attend the Special Meeting, vote, and submit questions during the meeting by visiting <I>www.proxydocs.com/RIBB </I>and
following the instructions for preregistration and meeting access.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
undersigned hereby appoints Angshuman (Bubai) Ghosh, as proxy of the undersigned, with full power of substitution, to vote all ordinary
shares of Ribbon Acquisition Corp. (the &ldquo;Company&rdquo;) registered in the name of the undersigned, which the undersigned is entitled
to vote at the Special Meeting of shareholders, and at any adjournments or postponements thereof, with all the powers the undersigned
would possess if personally present. Without limiting the general authorization hereby given, the proxy is instructed to vote or act
as follows on the proposals set forth in this Proxy Statement.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>THIS
PROXY, WHEN EXECUTED, WILL BE VOTED IN THE MANNER DIRECTED HEREIN. IF NO DIRECTION IS MADE, THIS PROXY WILL BE VOTED &ldquo;FOR&rdquo;
THE TRUST PROPOSAL AND THE ADJOURNMENT PROPOSAL.</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1.</b></font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PROPOSAL
    1. TRUST AMENDMENT &mdash; APPROVAL OF AN AMENDMENT TO THE COMPANY&rsquo;S INVESTMENT
MANAGEMENT TRUST AGREEMENT, DATED JANUARY 14, 2025, AS AMENDED, TO PROVIDE THAT, FOR EACH ONE-MONTH EXTENSION OF THE COMPANY&rsquo;S DEADLINE
TO CONSUMMATE AN INITIAL BUSINESS COMBINATION, THE COMPANY WILL DEPOSIT INTO THE TRUST ACCOUNT THE LESSER OF (I) US$50,000 AND (II) US$0.033
FOR EACH THEN-OUTSTANDING PUBLIC SHARE.</b></font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For
</b>&#9744; <b>Against </b>&#9744; <b>Abstain</b> &#9744;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PROPOSAL
    2. ADJOURNMENT &mdash; APPROVAL TO DIRECT THE CHAIRMAN OF THE SPECIAL MEETING TO ADJOURN THE SPECIAL MEETING TO A LATER DATE OR DATES,
    IF NECESSARY, TO PERMIT FURTHER SOLICITATION AND VOTE OF PROXIES IF, BASED UPON THE TABULATED VOTE AT THE TIME OF THE MEETING, THERE
    ARE NOT SUFFICIENT VOTES TO APPROVE PROPOSAL 1 (TRUST AMENDMENT).</b></font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For
</b>&#9744; <b>Against </b>&#9744; <b>Abstain</b> &#9744;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE:
IN HIS DISCRETION, THE PROXY HOLDER IS AUTHORIZED TO VOTE UPON SUCH OTHER MATTER OR MATTERS THAT MAY PROPERLY COME BEFORE THE SPECIAL
MEETING AND ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF.</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">THIS
PROXY WILL BE VOTED IN ACCORDANCE WITH THE SPECIFIC INDICATION ABOVE. IN THE ABSENCE OF SUCH INDICATION, THIS PROXY WILL BE VOTED &ldquo;FOR&rdquo;
EACH PROPOSAL AND, AT THE DISCRETION OF THE PROXY HOLDER, ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE SPECIAL MEETING OR ANY
POSTPONEMENT OR ADJOURNMENT THEREOF.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated:</font>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 10%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 35%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="border-top: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Signature
    of Stockholder</font></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">PLEASE
    PRINT NAME</font></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate
    Number(s)</font></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
    Number of Shares Owned</font></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sign
exactly as your name(s) appears on your stock certificate(s). A corporation is requested to sign its name by its President or other authorized
officer, with the office held designated. Executors, administrators, trustees, etc., are requested to so indicate when signing. If a
stock certificate is registered in two names or held as joint tenants or as community property, both interested persons should sign.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><u>PLEASE
NOTE</u>:</b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">STOCKHOLDER
SHOULD SIGN THE PROXY PROMPTLY AND RETURN IT IN THE ENCLOSED ENVELOPE AS SOON AS POSSIBLE TO ENSURE THAT IT IS RECEIVED BEFORE THE SPECIAL
MEETING. PLEASE INDICATE ANY ADDRESS OR TELEPHONE NUMBER CHANGES IN THE SPACE BELOW.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></P>

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