Armada Acquisition Corp. III - Class A Ordinary Share

Predictability of business results is very low because there is no business. The only predictable element is Treasury income inside the trust and the redemption mechanism if no deal closes by the deadline. This creates a time‑limited cash proxy, not a compounding enterprise.

Our estimate of trust accretion by August 20, 2026 is about 0.176 dollars per share based on disclosed T‑bill purchase and face amounts. This is our calculation, not guidance.