Activate Energy Acquisition Corp. - Class A Ordinary Share

Operating results are unknowable until a target is identified and audited financials are provided.

The single predictable element is the cash held in trust and its per share redemption value, which was $10.11 on March 31, 2026, up from $10.02 at December 31, 2025. Redemption is available at merger or liquidation if no deal is completed within the 24 month window. Warrants have zero expected value if no deal occurs.

These features make the vehicle predictable as a cash proxy, not as a business.