NASDAQ: AEAQ

Our management team is comprised
of individuals who bring a wealth of experience across diverse domains, including the oil and gas industry, financial services, capital
markets, mergers and acquisitions, private equity, and leadership roles in publicly traded firms. Each member of our team has a robust
professional background that spans several decades, and their collective expertise covers a broad spectrum of industries.

Throughout their extensive
careers, our management team has not only accumulated a deep understanding of their respective fields but has also earned the trust and
respect of key stakeholders, including founders, executives, investors, and industry leaders. These relationships have been nurtured
through their multifaceted roles as operators, private equity investors, and merger and acquisition specialists across a wide range of
sectors.

As a result, our management
team and board of directors possesses a unique vantage point within these industries, with local and cross-border capabilities allowing
access to different sectors of the capital markets, allowing us to access valuable insights, forge strategic partnerships, and identify
promising investment opportunities that align with our objectives.

During their extensive careers,
our management team and board of directors has earned the trust and respect of founders, executives, investors, and trendsetters in a
wide range of sectors, including but not limited to the oil and gas industry, financial services, capital markets, mergers and acquisitions,
private equity, and leadership roles in publicly traded firms. These relationships have been cultivated by our management team through
their various roles as operators, investors and investment bankers.

We believe that our management
team and board of directors is well positioned to identify and execute compelling business combination opportunities. Our objectives
are to generate attractive returns for shareholders and enhance value through identifying a high-quality target, negotiating favorable
acquisition terms for our shareholders, and leveraging our expertise and network to improve business performance of the newly-publicly
listed company.

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While we may pursue an acquisition opportunity in any business, industry,
sector or geographical location, we intend to focus on industries that complement our management team’s background and network,
and to capitalize on the ability of our management team and board of directors to identify and acquire a business. With respect to the
foregoing experiences of our management team and board of directors, past performance is not a guarantee (i) that we will be able to identify
a suitable candidate for our initial business combination or (ii) of success with respect to any business combination we may consummate.
You should not rely on the historical record of our management team’s performance as indicative of our future performance. For more
information on the experience and background of our management team, see Item 10. – Directors, Executive Officers and Corporate
Governance. In addition, for a list of our executive officers and entities for which a conflict of interest may or does exist between
such officers and the company, as well as the priority and preference that such entity has with respect to performance of obligations
and presentation of business opportunities to us, please refer to Item 10. – Directors, Executive Officers and Corporate Governance.

Business Strategy

Our strategy is centered around four core pillars:

●
Proactive and Proprietary Transaction Sourcing: Our team’s
track record of building high-growth business platforms, combined with our proactive deal sourcing approach and extensive relationship
network, will provide access to a robust pipeline of proprietary investment opportunities. We believe our success to date positions
us as an attractive partner for energy companies across the value chain seeking capital and liquidity solutions.

●
Execution and Structuring Capability: Our transaction experience
and industry reputation will enable us to pursue and execute deals that require sophisticated problem-solving, detailed due diligence,
and nuanced structuring. The team has participated in the creation of numerous high-value public and private companies that
demanded these competencies. We expect to apply this expertise in identifying transactions with compelling risk-adjusted return
profiles, favorable structural features, and manageable levels of financial leverage.

●
Significant Value-Add Capability: Our team’s
domain expertise and broad industry network will serve as key differentiators in attracting high-quality acquisition targets.
Our demonstrated ability to identify and implement value-enhancing initiatives has been a core driver of historical performance
and will remain central to our acquisition strategy.

●
Broad and Extensive Experience in Both Public and Private Markets:
With decades of combined experience in operating, investing in, and financing energy businesses across both public and private
markets, our team has built independent companies that achieved significant equity value growth from inception through exit. This
versatility allows us to identify targets with public market potential and prepare them for a successful transition to becoming robust,
publicly traded companies.

Our approach to target selection
will be greatly enhanced by our management team’s and board of director’s vast network of industry experts, venture capital
investors, private equity sponsors, credit investors, members of the lending community, and relationships with management teams of both
public and private companies. These relationships are expected to yield a diverse array of business combination opportunities.

We are committed to adopting
a proactive and thematic sourcing strategy, concentrating our efforts on companies where we believe our leadership experience, relationships,
capital, and expertise in capital markets can serve as catalysts for transformation. Our aim is to accelerate the growth and performance
of our target companies.

Following the completion
of our initial public offering (the “IPO”), our management team and board of directors has engaged with their extensive
network of relationships to articulate our initial business combination criteria. This has included defining the parameters of our search
for a target business. We have initiated a disciplined and thorough process of pursuing and evaluating promising leads.

Investment Criteria

Our investment strategy
is guided by a set of high-level, non-exclusive criteria designed to help us identify and evaluate target businesses. These criteria
are indicative of our commitment to seeking out opportunities that align with our strategic vision and provide compelling value for our
investors. While these criteria provide a foundational framework for our investment decisions, they are by no means exhaustive, and we
remain flexible and adaptable in our approach. Our overarching goal is to identify businesses that can thrive within the public markets
and leverage our collective capabilities for mutual success.

●High Impact. We will
seek business combination targets that are potentially compelling and transformational, with
strong public market appeal. The ideal target will generate sustained investor interest through
frequent, high-quality news flow and offer the potential for attractive long-term returns.

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●Low Risk
Upside Potential. We also favor assets located within proven, productive reservoirs
that include a substantial inventory of undeveloped or underdeveloped resources. Targets
offering near-term, accessible value — so-called “low-hanging fruit”
— will be prioritized.

●Confidence.
Our team must have sufficient access to information to form a well-supported investment
thesis and be confident in its ability to market the opportunity to public investors.

●Ability
To Close. Transaction certainty and speed are critical. We aim to close our initial
business combination within approximately six months from the signing of a definitive
agreement.

●Manageable
Liability. Many opportunities under consideration will have some associated liabilities
(e.g., debt, abandonment obligations). We must be confident in our ability to identify, quantify,
and manage such risks. The ability to walk away remains essential.

●Vendor Pedigree.
We will only transact with reputable counterparties. We will avoid counterparties
with inconsistent or unreliable deal behavior and instead seek vendors with a strong track
record of professionalism and follow-through.

●Uniqueness.
We are seeking transactions that are clearly differentiated opportunities that may
be perceived by the market as “diamonds in the rough.”

●High Operational
Control. We will prioritize opportunities where we can secure significant operational
control. This will enable us to apply our technical, operational, and strategic expertise
to maximize shareholder value over the short and long term.

●Deal Complexity.
We favor straightforward transactions with minimal regulatory or multi-party approval
requirements. Involvement from governments, national oil companies (NOCs), or NGOs should
be limited

●Technical
Complexity. While our team has the capacity to manage technically complex assets,
we prefer opportunities that are relatively easy to understand, operate, and develop.

●Stewardship — HSE,
ESG. A strong historical record in health, safety, environmental responsibility,
and corporate governance (HSE/ESG) is preferred. The business opportunity selected must demonstrate
high standards in these areas of stewardship. Where gaps exist, we must be confident in our
ability to elevate the asset to meet industry-recognized standards using our operational
experience.

●Country
Risk. While our team has worked across a broad range of jurisdictions and regulatory
environments, we will prioritize opportunities in regions that demonstrate relative social,
political, and economic stability.

It is essential to note
that while these criteria provide a foundational framework, our evaluation process extends beyond these general guidelines. We remain
open to considering other factors, considerations, and criteria that our management deems relevant to the merits of a particular initial
business combination. Our flexibility and adaptability in evaluating opportunities are indicative of our commitment to securing investments
that offer substantial growth potential and value for our investors. As we embark on our journey, we are dedicated to upholding these
principles and maintaining the highest standards of diligence and strategic acumen.

These criteria are not intended
to be exhaustive. Any evaluation relating to the merits of a particular initial business combination may be based, to the extent relevant,
on these general guidelines as well as on other considerations, factors and criteria that our management may deem relevant.

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We have reviewed, and continue
to review, a number of opportunities to enter into an initial business combination, but we are not able to determine at this time whether
we will complete an initial business combination with any of the target businesses that we have reviewed or with any other target business.
We also have neither engaged in any operations nor generated any revenue to date. Based on our business activities, the Company is a
“shell company” as defined under the Exchange Act of 1934 (the “Exchange Act”) because we have no operations
and nominal assets consisting almost entirely of cash.

On June 30, 2025 our sponsor
paid $25,000 for 7,666,667 founder shares, for a purchase price of approximately $0.03 per share. The number of founder shares outstanding
was determined based on the expected total size of the IPO would be a maximum of 23,000,000 units if the underwriters’ over-allotment
option was exercised in full, and therefore that such founder shares would represent approximately 25% of the outstanding shares following
our IPO. As a result of the underwriters’ election to fully exercise their over-allotment option on December 4, 2025, no founder
shares were forfeited resulting in the sponsor holding 7,666,667 founder shares.

On December 5, 2025, we consummated our IPO of 23,000,000 units at
$10.00 per unit (the “Public Units”), generating gross proceeds of $230,000,000 including the underwriter’s exercise
of their over-allotment option (the “Base Offering”). Each Unit consists of one Class A ordinary share, par value $0.0001
per share (the “Class A ordinary shares” or “Public Shares”) and one-half of one redeemable warrant
(the “Public Warrants”) of the Company, with each whole Public Warrant entitling the holder to purchase one Class A
ordinary share for $11.50 per share, subject to adjustment.

Simultaneously with the closing of the Base Offering, the Company consummated
the sale of 645,000 private placement units (the “Private Placement Units” and, together with the Public Units, the
“Units”) to the sponsor and underwriter, at a price of $10.00 per Private Placement Unit, or $6,450,000 in the aggregate
(the “Private Placement”). Each Private Placement Unit is identical to the Public Units.

A total of $230,000,000
of the proceeds from IPO and Private Placement, was placed in the trust account (the “Trust Account”). The funds held
in the Trust Account are invested in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company
Act of 1940, as amended (the “Investment Company Act”), with a maturity of 185 days or less or in money market funds
meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations.

Initial Business Combination

Our initial business combination
must occur with one or more operating businesses or assets with a fair market value equal to at least 80% of the net assets held in the
trust account at the time of execution of the definitive agreement for such business combination. Our board of directors will make the
determination as to the fair market value of our initial business combination. If our board of directors is not able to independently
determine the fair market value of our initial business combination, we will obtain an opinion from an independent investment banking
firm or another independent entity that commonly renders valuation opinions with respect to the satisfaction of such criteria. While
we consider it unlikely that our board of directors will not be able to make an independent determination of the fair market value of
our initial business combination, it may be unable to do so if it is less familiar or experienced with the business of a particular target
or if there is a significant amount of uncertainty as to the value of the target’s assets or prospects.

We anticipate structuring
our initial business combination so that the post-transaction company in which our public shareholders own shares will own or acquire
100% of the equity interests or assets of the target business or businesses. We may, however, structure our initial business combination
such that the post-transaction company owns or acquires less than 100% of such interests or assets of the target business in order to
meet certain objectives of the target management team or shareholders or for other reasons, but we will only complete such business combination
if the post-transaction company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires
a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company
Act of 1940, as amended, or the Investment Company Act. Even if the post-transaction company owns or acquires 50% or more of the voting
securities of the target, our shareholders prior to the business combination may collectively own a minority interest in the post-transaction
company, depending on valuations ascribed to the target and us in the business combination transaction. For example, we could pursue
a transaction in which we issue a substantial number of new shares in exchange for all of the outstanding capital stock, shares or other
equity interests of a target. In this case, we would acquire a 100% controlling interest in the target. However, as a result of the issuance
of a substantial number of new shares, our shareholders immediately prior to our initial business combination could own less than a majority
of our outstanding shares subsequent to our initial business combination. If less than 100% of the equity interests or assets of a target
business or businesses are owned or acquired by the post-transaction company, the portion of such business or businesses that is owned
or acquired is what will be taken into account for purposes of the 80% fair market value test described above. If the business combination
involves more than one target business, the 80% fair market value test will be based on the aggregate value of all of the target businesses.

4

Pursuant to our amended
and restated memorandum and articles of association, we will have until 18 months (or up to 24 months with both extensions) from the
closing of our IPO, or until such earlier liquidation date as our board of directors may approve, to complete an initial business combination.
However, we may hold a shareholder vote at any time to amend our amended and restated memorandum and articles of association to modify
the amount of time we will have to consummate an initial business combination (as well as to modify the substance or timing of our obligation
to redeem 100% of our public shares if we have not consummated an initial business combination within the time periods described herein
or with respect to any other material provisions relating to shareholders’ rights or pre-initial business combination activity).
As described herein, our initial shareholders, executive officers and directors have agreed that they will not propose any such amendment
unless we provide our public shareholders with the opportunity to redeem their public shares upon approval of any such amendment 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 (net of permitted withdrawals), divided by the number of then-outstanding public shares, subject to the
limitations described herein.

Sourcing of Potential Initial Business Combination
Targets

We believe that our management
team’s deep-rooted relationships and extensive network within the oil and gas industry positions us favorably to identify and pursue
unique opportunities in the private company landscape. Our approach to selecting target businesses is founded on leveraging these invaluable
relationships, which include connections with founders of private companies, executives from both private and public corporations, venture
capitalists, and private equity and growth equity funds. Through these relationships, we aim to access a diverse range of prospective
target businesses that align with our investment strategy.

While we do not presently
anticipate engaging the services of professional firms or other individuals that specialize in business acquisitions on any formal basis,
we may engage these firms or other individuals in the future, in which event we may pay a finder’s fee, consulting fee or other
compensation to be determined in an arm’s length negotiation based on the terms of the transaction. We will engage a finder only
to the extent our management determines that the use of a finder may bring opportunities to us that may not otherwise be available to
us or if finders approach us on an unsolicited basis with a potential transaction that our management determines is in our best interest
to pursue. Payment of a finder’s fee is customarily tied to completion of a transaction, in which case any such fee will be paid
out of the funds held in the trust account. Any such payments prior to our initial business combination will be made from funds held
outside the trust account.

We are not prohibited from
paying any fees (such as advisory fees), reimbursements or cash payments to our sponsor, officers or directors, or our or their affiliates,
for services rendered to us prior to or in connection with the completion of our initial business combination, including the following
payments, all of which, if made prior to the completion of our initial business combination, will be paid from funds held outside the
trust account:

●Repayment of up to an aggregate
of $300,000 in loans made to us by our sponsor to cover offering-related and organizational expenses;

●Payment to an affiliate of
our sponsor of $10,000 per month, for office space, utilities and secretarial and administrative support; upon completion of our initial
business combination or our liquidation, we will cease paying these monthly fees;

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●Reimbursement for any out of-pocket
expenses related to identifying, investigating and completing an initial business combination;

●Payment of a finder’s
fee, advisory fee, consulting fee or success fee for any services they render in order to effectuate the completion of our initial business
combination; and

●Repayment of non-interest bearing
loans which may be made by our sponsor or an affiliate of our sponsor or certain of our officers and directors to finance transaction
costs in connection with an intended initial business combination. Up to $1,500,000 of such loans may be convertible into units of the
post-business combination entity at a price of $10.00 per unit at the option of the lender. The units would be identical to the private
placement units. Except for the foregoing, the terms of such loans, if any, have not been determined and no written agreements exist
with respect to such loans.

We are not prohibited from
pursuing an initial business combination with a company that is affiliated with our sponsor, executive officers or directors, or completing
the business combination through a joint venture or other form of shared ownership with our sponsor, executive officers or directors.
In the event we seek to complete an initial business combination with a target that is affiliated with our sponsor, executive officers
or directors, we, or a committee of independent directors, would obtain an opinion from an independent investment banking firm or another
independent entity that commonly renders valuation opinions stating that such an initial business combination is fair to our company
from a financial point of view and a majority of our disinterested and independent directors approve such transaction.

Certain members of our management
team (including our independent directors) directly or indirectly own founder shares and/or private placement units following the IPO
and, accordingly, may have a conflict of interest in determining whether a particular target business is an appropriate business with
which to effectuate our initial business combination. The low price that our sponsor and/or our executive officers and directors (directly
or indirectly) paid for the founder shares creates an incentive whereby our officers and directors could potentially make a substantial
profit even if we select an acquisition target that subsequently declines in value and is unprofitable for public shareholders. If we
are unable to complete our initial business combination within the completion window, the founder shares and private placement units
may expire worthless, except to the extent the holders thereof receive liquidating distributions from assets outside the trust account,
which could create an incentive for our sponsor and our executive officers and directors to complete any transaction, regardless of its
ultimate value. Further, each of our officers and directors may have a conflict of interest with respect to evaluating a particular business
combination if the retention or resignation of any such officers and directors was included by a target business as a condition to any
agreement with respect to our initial business combination.

Each of our officers and
directors presently has, and any of them in the future may have additional, fiduciary or contractual obligations to another entity pursuant
to which such officer or director is or will be required to present a business combination opportunity to such entity. Accordingly, if
any of our officers or directors becomes aware of a business combination opportunity which is suitable for an entity to which he or she
has then current fiduciary or contractual obligations, he or she will honor his or her fiduciary or contractual obligations to present
such business combination opportunity to such other entity, subject to their fiduciary duties under Cayman Islands law. Our amended and
restated memorandum and articles of association provide that, to the fullest extent permitted by applicable law: (i) no individual serving
as a director or an officer shall have any duty, except and to the extent expressly assumed by contract, to refrain from engaging directly
or indirectly in the same or similar business activities or lines of business as us, and (ii) we renounce any interest or expectancy
in, or in being offered an opportunity to participate in, any potential transaction or matter which may be a corporate opportunity for
any director or officer, on the one hand, and us, on the other. We do not believe, however, that the fiduciary duties or contractual
obligations of our officers or directors will materially affect our ability to complete our initial business combination.

In addition, our sponsor
and our officers and directors may sponsor or form other special purpose acquisition companies similar to ours or may pursue other business
or investment ventures during the period in which we are seeking an initial business combination. Any such companies, businesses or investments
may present additional conflicts of interest in pursuing an initial business combination. However, we do not believe that any such potential
conflicts would materially affect our ability to complete our initial business combination.

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Redemption Rights for Public Shareholders
upon Completion of Our Initial Business Combination

We will provide our public
shareholders with the opportunity to redeem all or a portion of their Class A ordinary shares upon the completion of our initial business
combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account calculated as of
two business days prior to the consummation of an initial business combination, including interest earned on the funds held in the trust
account (which interest shall be net of permitted withdrawals), divided by the number of then outstanding public shares, subject to the
limitations and on the conditions described herein. The amount in the trust account is initially anticipated to be $10.025 per public
share. The per share amount we will distribute to investors who properly redeem their shares will not be reduced by the deferred underwriting
commissions we will pay to the underwriters.

Our initial shareholders,
sponsor, officers and directors have entered into a letter agreement with us, pursuant to which they have agreed to waive their redemption
rights with respect to any founder shares and public shares they may hold in connection with the completion of our initial business combination.

Limitations on Redemptions

Our amended and restated
memorandum and articles of association provide that we will only consummate an initial business combination if our net tangible assets
will be at least $5,000,001 either immediately prior to or upon consummation of our initial business combination. In addition, our proposed
initial business combination may impose a minimum cash requirement for: (i) cash consideration to be paid to the target or its owners,
(ii) cash for working capital or other general corporate purposes or (iii) the retention of cash to satisfy other conditions. In the
event the aggregate cash consideration we would be required to pay for all Class A ordinary shares that are validly submitted for redemption
plus any amount required to satisfy cash conditions pursuant to the terms of the proposed initial business combination exceed the aggregate
amount of cash available to us, we will not complete the initial business combination or redeem any shares in connection with such initial
business combination, and all Class A ordinary shares submitted for redemption will be returned to the holders thereof. We may, however,
raise funds through the issuance of equity-linked securities or through loans, advances or other indebtedness in connection with our
initial business combination, including pursuant to forward purchase agreements or backstop arrangements we may enter into following
our IPO, in order to, among other reasons, satisfy such net tangible assets or minimum cash requirements.

Manner of Conducting Redemptions

We
will provide our public shareholders with the opportunity to redeem all or a portion of their public shares upon the completion of our
initial business combination either (i) in connection with a general meeting called to approve the initial business combination or (ii)
without a shareholder vote by means of a tender offer. The decision as to whether we will seek shareholder approval of a proposed initial
business combination or conduct a tender offer will be made by us, solely in our discretion, and will be based on a variety of factors
such as the timing of the transaction and whether the terms of the transaction would require us to seek shareholder approval under applicable
law or stock exchange listing requirements. Asset acquisitions and share purchases would not typically require shareholder approval while
direct mergers with our company (other than with a 90% subsidiary of ours) and any transactions where we issue more than 20% of our outstanding
ordinary shares or seek to amend our amended and restated memorandum and articles of association would require shareholder approval.
So long as we obtain and maintain a listing for our securities on The Nasdaq Stock Market LLC (the “Nasdaq”), we will
be required to comply with the Nasdaq’s shareholder approval rules.

The requirement that we
provide our public shareholders with the opportunity to redeem their public shares by one of the two methods listed above will be contained
in provisions of our amended and restated memorandum and articles of association and will apply whether or not we maintain our registration
under the Exchange Act or our listing on the Nasdaq. Such provisions may be amended if approved by a special resolution of our shareholders,
which is a resolution passed by the affirmative vote of at least two-thirds of our ordinary shares, held by the shareholders as, being
entitled to do so, vote in person or by proxy at a general meeting of the company and includes a unanimous written resolution.

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If we provide our public
shareholders with the opportunity to redeem their public shares in connection with a general meeting, we will:

●conduct the redemptions in
conjunction with a proxy solicitation pursuant to Regulation 14A of the Exchange Act, which regulates the solicitation of proxies, and
not pursuant to the tender offer rules; and

●file proxy materials with the
SEC.

If we seek shareholder approval,
we will complete our initial business combination only if we receive the approval of an ordinary resolution under our amended and restated
memorandum and articles of association and Cayman Islands law, which is a resolution passed by the affirmative vote of a simple majority
of the shareholders as, being entitled to do so, vote at a general meeting of the company and includes a unanimous written resolution.
In accordance with our amended and restated memorandum and articles of association, a quorum for such meeting will be holders of one-third
of the shares in the capital of the company being individuals present in person or by proxy or if a corporation or other non-natural
person by its duly authorized representative or proxy at the general meeting. Our initial shareholders will count towards this quorum
and, pursuant to the letter agreement, our sponsor, officers and directors have agreed to vote any founder shares and any public shares
purchased during or after our IPO (including in open market and privately-negotiated transactions) in favor of our initial business combination.
For purposes of seeking approval of an ordinary resolution, non-votes will have no effect on the approval of our initial business combination
once a quorum is obtained. As a result, in addition to our initial shareholders’ founder shares, we would need 6,374,167, or approximately
31.87% of the 20,000,000 public shares sold in our IPO to be voted in favor of an initial business combination in order to have our initial
business combination approved (assuming all outstanding shares are voted, the over-allotment option is not exercised and applicable law
does not require approval by a greater majority than an ordinary resolution under Cayman Islands law, which requires the affirmative
vote of a majority of our ordinary shares which are represented in person or by proxy and are voted at a general meeting of the company,
voting together as a single class). Assuming that the holders of only one-third of our issued and outstanding ordinary shares are present
in person or by proxy, representing a quorum under our amended and restated memorandum and articles of association, and all such shares
are voted, we would not need any of the remaining 20,000,000 public shares sold in our IPO to be voted in favor of an initial business
combination in order to have our initial business combination approved (assuming the overallotment option is not exercised and applicable
law does not require approval by a higher threshold than an ordinary resolution under Cayman Islands law, this requires the affirmative
vote of a majority of ordinary shares, which are represented in person or by proxy and are voted at a general meeting of the company
voting together as a single class). These quorum and voting thresholds, and the voting agreements of our initial shareholders, may make
it more likely that we will consummate our initial business combination. Each public shareholder may elect to redeem its public shares
irrespective of whether they vote for, against or abstain from the proposed transaction or whether they were a shareholder on the record
date for the shareholder meeting held to approve the proposed transaction.

If a shareholder vote is
not required and we do not decide to hold a shareholder vote for business or other legal reasons, we will:

●conduct the redemptions pursuant
to Rule 13e-4 and Regulation 14E of the Exchange Act, which regulate issuer tender offers, and

●file tender offer documents
with the SEC prior to completing our initial business combination, which contain substantially the same financial and other information
about the initial business combination and the redemption rights as is required under Regulation 14A of the Exchange Act, which regulates
the solicitation of proxies.

In the event we conduct
redemptions pursuant to the tender offer rules, our offer to redeem will remain open for at least 20 business days, in accordance with
Rule 14e-1(a) under the Exchange Act, and we will not be permitted to complete our initial business combination until the expiration
of the tender offer period. In addition, the tender offer will be conditioned on public shareholders not tendering more than a specified
number of public shares, which number will be based on the requirement that we will only consummate an initial business combination if
our net tangible assets will be at least $5,000,001 either immediately prior to or upon consummation of our initial business combination.
If public shareholders tender more shares than we have offered to purchase, we will withdraw the tender offer and not complete the initial
business combination.

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Upon
the public announcement of our initial business combination, if we elect to conduct redemptions pursuant to the tender offer rules, we
or our sponsor will terminate any plan established in accordance with Rule 10b5-1 to purchase our Class A ordinary shares in the open
market, in order to comply with Rule 14e-5 under the Exchange Act.

We intend to require our
public shareholders seeking to exercise their redemption rights, whether they are record holders or hold their shares in “street
name,” to, at the holder’s option, either deliver their share certificates to our transfer agent or deliver their shares
to our transfer agent electronically using The Depository Trust Company’s DWAC (Deposit/Withdrawal At Custodian) system, prior
to the date set forth in the proxy materials or tender offer documents, as applicable. In the case of proxy materials, this date may
be up to two business days prior to the vote on the proposal to approve the initial business combination. In addition, if we conduct
redemptions in connection with a shareholder vote, we intend to require a public shareholder seeking redemption of its public shares
to also submit a written request for redemption to our transfer agent two business days prior to the vote in which the name of the beneficial
owner of such shares is included. The proxy materials or tender offer documents, as applicable, that we will furnish to holders of our
public shares in connection with our initial business combination will indicate whether we are requiring public shareholders to satisfy
such delivery requirements. We believe that this will allow our transfer agent to efficiently process any redemptions without the need
for further communication or action from the redeeming public shareholders, which could delay redemptions and result in additional administrative
cost. If the proposed initial business combination is not approved and we continue to search for a target company, we will promptly return
any certificates or shares delivered by public shareholders who elected to redeem their shares.

Our amended and restated
memorandum and articles of association provide that we will only consummate an initial business combination if our net tangible assets
will be at least $5,000,001 either immediately prior to or upon consummation of our initial business combination. In addition, our proposed
initial business combination may impose a minimum cash requirement for: (i) cash consideration to be paid to the target or its owners,
(ii) cash for working capital or other general corporate purposes or (iii) the retention of cash to satisfy other conditions. In the
event the aggregate cash consideration we would be required to pay for all Class A ordinary shares that are validly submitted for redemption
plus any amount required to satisfy cash conditions pursuant to the terms of the proposed initial business combination exceed the aggregate
amount of cash available to us, we will not complete the initial business combination or redeem any shares in connection with such initial
business combination, and all Class A ordinary shares submitted for redemption will be returned to the holders thereof. We may, however,
raise funds through the issuance of equity-linked securities or through loans, advances or other indebtedness in connection with our
initial business combination, including pursuant to forward purchase agreements or backstop arrangements we may enter into following
our IPO, in order to, among other reasons, satisfy such net tangible assets or minimum cash requirements.

Redemption of Public Shares and Liquidation
if No Initial Business Combination

Our amended and restated
memorandum and articles of association provide that we will have only until the end of the completion window to complete our initial
business combination. If we are unable to complete our initial business combination within such completion window, we will: (i) cease
all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter,
redeem the 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 (which interest shall be net of permitted withdrawals and up to $100,000
of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish
public shareholders’ rights as shareholders (including the right to receive further liquidating distributions, if any), and (iii)
as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and our board of
directors, liquidate and dissolve, subject in each case to our obligations under Cayman Islands law to provide for claims of creditors
and in all cases subject to the other requirements of applicable law. There will be no redemption rights or liquidating distributions
with respect to our warrants, which will expire worthless if we fail to complete our initial business combination within the completion
window. Our initial shareholders, sponsor, officers and directors have entered into a letter agreement with us, pursuant to which they
have waived their rights to liquidating distributions from the trust account with respect to any founder shares they hold if we fail
to complete our initial business combination within the completion window or any extended period of time that we may have to consummate
an initial business combination as a result of an amendment to our amended and restated memorandum and articles of association. However,
if our initial shareholders, sponsor or management team acquire public shares in or after our IPO, they will be entitled to liquidating
distributions from the trust account with respect to such public shares if we fail to complete our initial business combination within
the allotted completion window.

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Our initial shareholders,
sponsor, officers and directors have agreed, pursuant to a letter agreement with us, that they will not propose any amendment to our
amended and restated memorandum and articles of association to modify the substance or timing of our obligation to redeem 100% of our
public shares if we do not complete our initial business combination within the completion window or with respect to any other material
provisions relating to shareholders’ rights or pre-initial business combination activity, unless we provide our public shareholders
with the opportunity to redeem their public shares upon approval of any such amendment 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 (which interest
shall be net of permitted withdrawals), divided by the number of then outstanding public shares. However, we will only redeem our public
shares if our net tangible assets will be at least $5,000,001 either immediately prior to or upon consummation of our initial business
combination.

We expect that all costs
and expenses associated with implementing our plan of dissolution, as well as payments to any creditors, will be funded from the $1,200,000
of proceeds held outside the trust account, although there may not be sufficient funds for such purpose. However, if those funds are
not sufficient to cover the costs and expenses associated with implementing our plan of dissolution, to the extent that there is any
interest accrued in the trust account not required to pay income taxes or make other permitted withdrawals, we may request the trustee
to release to us an additional amount of up to $100,000 of such accrued interest to pay those costs and expenses.

If we were to expend all
of the net proceeds of our IPO and the sale of the private placement units, other than the proceeds deposited in the trust account, and
without taking into account interest, if any, earned on the trust account and any permitted withdrawals or expenses for the dissolution
of the trust, the per-share redemption amount received by shareholders upon our dissolution would be approximately $10.025. The proceeds
deposited in the trust account could, however, become subject to the claims of our creditors which would have higher priority than the
claims of our public shareholders. We cannot assure you that the actual per-share redemption amount received by shareholders will not
be substantially less than $10.025. While we intend to pay such amounts, if any, we may not have funds sufficient to pay or provide for
all creditors’ claims.

Although we will seek to
have all vendors, service providers (other than our independent registered public accounting firm), prospective target businesses and
other entities with which we do business execute agreements with us waiving any right, title, interest or claim of any kind in or to
any monies held in the trust account for the benefit of our public shareholders, there is no guarantee that they will execute such agreements
or even if they execute such agreements that they would be prevented from bringing claims against the trust account including but not
limited to fraudulent inducement, breach of fiduciary responsibility or other similar claims, as well as claims challenging the enforceability
of the waiver, in each case in order to gain an advantage with respect to a claim against our assets, including the funds held in the
trust account. If any third party refuses to execute an agreement waiving such claims to the monies held in the trust account, our management
will consider whether competitive alternatives are reasonably available to us and will only enter into an agreement with such third party
if management believes that such third party’s engagement would be in the best interests of the company under the circumstances.
Examples of possible instances where we may engage a third party that refuses to execute a waiver include the engagement of a third party
consultant whose particular expertise or skills are believed by management to be significantly superior to those of other consultants
that would agree to execute a waiver or in cases where management is unable to find a service provider willing to execute a waiver. The
underwriters of our IPO and our independent registered public accounting firm will not execute agreements with us waiving such claims
to the monies held in the trust account. In addition, there is no guarantee that such entities will agree to waive any claims they may
have in the future as a result of, or arising out of, any negotiations, contracts or agreements with us and will not seek recourse against
the trust account for any reason. In order to protect the amounts held in the trust account, our sponsor has agreed that it will be liable
to us if and to the extent any claims by a third party for services rendered or products sold to us, or a prospective target business
with which we have entered into a written letter of intent, confidentiality or other similar agreement or business combination agreement,
reduce the amount of funds in the trust account to below the lesser of (i) $10.025 per public share and (ii) the actual amount per public
share held in the trust account as of the date of the liquidation of the trust account, if less than $10.025 per public share due to
reductions in the value of the trust assets, less permitted withdrawals, provided that such liability will not apply to any claims by
a third party or prospective target business who executed a waiver of any and all rights to the monies held in the trust account (whether
or not such waiver is enforceable) nor will it apply to any claims under our indemnity of the underwriters of our IPO against certain
liabilities, including liabilities under the Securities Act. However, we have not asked our sponsor to reserve for such indemnification
obligations, nor have we independently verified whether our sponsor has sufficient funds to satisfy its indemnity obligations and we
believe that our sponsor’s only assets are securities of our company. Our sponsor may not be able to satisfy those obligations.
As a result, if any such claims were successfully made against the trust account, the funds available for our initial business combination
and redemptions could be reduced to less than $10.025 per public share. In such event, we may not be able to complete our initial business
combination, and you would receive such lesser amount per share in connection with any redemption of your public shares. None of our
officers or directors will indemnify us for claims by third parties including, without limitation, claims by vendors and prospective
target businesses.

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In the event that the proceeds
in the trust account are reduced below the lesser of (i) $10.025 per public share and (ii) the actual amount per public share held in
the trust account as of the date of the liquidation of the trust account if less than $10.025 per share due to reductions in the value
of the trust assets, in each case less permitted withdrawals, and our sponsor asserts that it is unable to satisfy its indemnification
obligations or that it has no indemnification obligations related to a particular claim, our independent directors would determine whether
to take legal action against our sponsor to enforce its indemnification obligations. While we currently expect that our independent directors
would take legal action on our behalf against our sponsor to enforce its indemnification obligations to us, it is possible that our independent
directors in exercising their business judgment may choose not to do so in any particular instance. Accordingly, due to claims of creditors,
the actual value of the per-share redemption price will not be less than $10.025 per share.

We will seek to reduce the possibility that our sponsor will have to
indemnify the trust account due to claims of creditors by endeavoring to have all vendors, service providers (except our independent registered
public accounting firm), prospective target businesses or other entities with which we do business execute agreements with us waiving
any right, title, interest or claim of any kind in or to monies held in the trust account. Our sponsor will also not be liable as to any
claims under our indemnity of the underwriters of our IPO against certain liabilities, including liabilities under the Securities Act.
As of December 31, 2025, we have access to $738,606 held outside the trust account. In the event that we liquidate and it is subsequently
determined that the reserve for claims and liabilities is insufficient, shareholders who received funds from our trust account could be
liable for claims made by creditors.

If we file a bankruptcy
or winding up petition or an involuntary bankruptcy or winding up petition is filed against us that is not dismissed, the proceeds held
in the trust account could be subject to applicable bankruptcy or insolvency law, and may be included in our bankruptcy estate and subject
to the claims of third parties with priority over the claims of our shareholders. To the extent any bankruptcy claims deplete the trust
account, we may not be able to return $10.025 per share to our public shareholders. Additionally, if we file a bankruptcy or winding
up petition or an involuntary bankruptcy or winding up petition is filed against us that is not dismissed, any distributions received
by shareholders could be viewed under applicable debtor/creditor and/or bankruptcy or insolvency laws as either a “preferential
transfer” or a “fraudulent preference, conveyance or disposition”. As a result, a bankruptcy or other court could seek
to recover some or all amounts received by our shareholders. Furthermore, our board of directors may be viewed as having breached its
fiduciary duty to our creditors and/or may have acted in bad faith, and thereby exposing itself and our company to claims of punitive
damages, by paying public shareholders from the trust account prior to addressing the claims of creditors. We cannot assure you that
claims will not be brought against us for these reasons.

Our public shareholders
will be entitled to receive funds from the trust account only (i) in the event of the redemption of our public shares if we do not complete
our initial business combination within the completion window, (ii) in connection with a shareholder vote to amend our amended and restated
memorandum and articles of association to modify the substance or timing of our obligation to redeem 100% of our public shares if we
do not complete our initial business combination within the completion window or with respect to any other material provisions relating
to shareholders’ rights or pre-initial business combination activity or (iii) if they redeem their respective shares for cash upon
the completion of our initial business combination. In no other circumstances will a shareholder have any right or interest of any kind
to or in the trust account. In the event we seek shareholder approval in connection with our initial business combination, a shareholder’s
voting in connection with the business combination alone will not result in a shareholder’s redeeming its shares to us for an applicable
pro rata share of the trust account. Such shareholder must have also exercised its redemption rights described above. These provisions
of our amended and restated memorandum and articles of association, like all provisions of our amended and restated memorandum and articles
of association, may be amended with a shareholder vote.

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Competition

In identifying, evaluating
and selecting a target business for our initial business combination, we may encounter competition from other entities having a business
objective similar to ours, including other special purpose acquisition companies, private equity groups and leveraged buyout funds, public
companies and operating businesses seeking strategic acquisitions. Many of these entities are well established and have extensive experience
identifying and effecting business combinations directly or through affiliates. Moreover, many of these competitors possess greater financial,
technical, human and other resources than us. Our ability to acquire larger target businesses will be limited by our available financial
resources. This inherent limitation gives others an advantage in pursuing the acquisition of a target business. Furthermore, our obligation
to pay cash in connection with our public shareholders who exercise or are forced to exercise their redemption rights may reduce the
resources available to us for our initial business combination and our outstanding warrants, and the future dilution they potentially
represent, may not be viewed favorably by certain target businesses. Either of these factors may place us at a competitive disadvantage
in successfully negotiating an initial business combination.

Seasonality

Because we
are a blank check company with no operations, our activities are not subject to seasonal fluctuations and we have not experienced,
and do not expect to experience prior to our initial business combination, any material seasonality in results of operations or cash
flows. Following the consummation of our initial business combination, any seasonality will depend on the industry and geographic
footprint of the target business and will be described, if material, in the applicable disclosure documents.

Employees

We currently have two officers,
Thomas Fontaine and David Wood. These individuals are not obligated to devote any specific number of hours to our matters but they intend
to devote as much of their time as they deem necessary to our affairs until we have completed our initial business combination. The amount
of time they will devote in any time period will vary based on whether a target business has been selected for our initial business combination
and the stage of the business combination process we are in. We do not intend to have any full-time employees prior to the completion
of our initial business combination.

Periodic Reporting and Financial Information

We will register our units,
Class A ordinary shares and warrants under the Exchange Act and have reporting obligations, including the requirement that we file annual,
quarterly and current reports with the SEC. In accordance with the requirements of the Exchange Act, our annual reports will contain
financial statements audited and reported on by our independent registered public accountants.

We will provide shareholders
with audited financial statements of the prospective target business as part of the proxy solicitation materials or tender offer documents
sent to shareholders to assist them in assessing the target business. In all likelihood, these financial statements will need to be prepared
in accordance with, or reconciled to, Generally Accepted Accounting Principles (GAAP), or International Financial Reporting Standards
(IFRS), depending on the circumstances, and the historical financial statements may be required to be audited in accordance with the
standards of the PCAOB. These financial statement requirements may limit the pool of potential target businesses we may conduct an initial
business combination with because some targets may be unable to provide such statements in time for us to disclose such statements in
accordance with federal proxy rules and complete our initial business combination within the prescribed time frame. We cannot assure
you that any particular target business identified by us as a potential business combination candidate will have financial statements
prepared in accordance with the requirements outlined above, or that the potential target business will be able to prepare its financial
statements in accordance with the requirements outlined above. To the extent that these requirements cannot be met, we may not be able
to acquire the proposed target business. While this may limit the pool of potential business combination candidates, we do not believe
that this limitation will be material.

We are required to evaluate
our internal control procedures for the fiscal year ending December 31, 2025 as required by the Sarbanes-Oxley Act. Only in the event
we are deemed to be a large accelerated filer or an accelerated filer, and no longer qualify as an emerging growth company, will we be
required to have our internal control procedures audited. A target business may not be in compliance with the provisions of the Sarbanes-Oxley
Act regarding adequacy of their internal controls. The development of the internal controls of any such entity to achieve compliance
with the Sarbanes-Oxley Act may increase the time and costs necessary to complete any such business combination.

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We have filed a Registration
Statement on Form 8-A with the SEC to voluntarily register our securities under Section 12 of the Exchange Act. As a result, we are subject
to the rules and regulations promulgated under the Exchange Act. We have no current intention of filing a Form 15 to suspend our reporting
or other obligations under the Exchange Act prior or subsequent to the consummation of our initial business combination.

We are a Cayman Islands
exempted company. Exempted companies are Cayman Islands companies conducting business mainly outside the Cayman Islands and, as such,
are exempted from complying with certain provisions of the Companies Act. As an exempted company, we have applied for and received a
tax exemption undertaking from the Cayman Islands government that, in accordance with Section 6 of the Tax Concessions Act (As Revised)
of the Cayman Islands, for a period of 30 years from the date of the undertaking (being June 13, 2025), no law which is enacted in the
Cayman Islands imposing any tax to be levied on profits, income, gains or appreciations will apply to us or our operations and, in addition,
that no tax to be levied on profits, income, gains or appreciations or which is in the nature of estate duty or inheritance tax will
be payable (i) on or in respect of our shares, debentures or other obligations or (ii) by way of the withholding in whole or in part
of a payment of dividend or other distribution of income or capital by us to our shareholders or a payment of principal or interest or
other sums due under a debenture or other obligation of us.

We are an “emerging
growth company,” as defined in Section 2(a) of the Securities Act, as modified by the JOBS Act. As such, we are eligible to take
advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not “emerging
growth companies” including, but not limited to, not being required to comply with the auditor attestation requirements of Section
404 of the Sarbanes-Oxley Act reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements,
and exemptions from the requirements of holding a non-binding advisory vote on executive compensation and shareholder approval of any
golden parachute payments not previously approved. If some investors find our securities less attractive as a result, there may be a
less active trading market for our securities and the prices of our securities may be more volatile.

In addition, Section 107
of the JOBS Act also provides that an “emerging growth company” can take advantage of the extended transition period provided
in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an “emerging
growth company” can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies.
We intend to take advantage of the benefits of this extended transition period.

We will remain an emerging
growth company until the earlier of (1) the last day of the fiscal year (a) following the fifth anniversary of the completion of our
IPO, (b) in which we have total annual gross revenue of at least $1.235 billion, or (c) in which we are deemed to be a large accelerated
filer, which means the market value of our Class A ordinary shares that are held by non-affiliates exceeds $700 million as of the prior
June 30th, and (2) the date on which we have issued more than $1.0 billion in non-convertible debt securities during the prior
three-year period.

Additionally, we are a “smaller
reporting company” as defined in Item 10(f)(1) of Regulation S-K. Smaller reporting companies may take advantage of certain reduced
disclosure obligations, including, among other things, providing only two years of audited financial statements. We will remain a smaller
reporting company until the last day of the fiscal year in which (1) the market value of our Class A ordinary shares held by non-affiliates
equals or exceeds $250 million as of the end of that year’s second fiscal quarter, or (2) our annual revenues equaled or exceeded
$100 million during such completed fiscal year and the market value of our Class A ordinary shares held by non-affiliates exceeds $700
million as of the end of that year’s second fiscal quarter.

The Company maintains an internet website at https://activateenergy.us/. Information contained on, or that can be accessed through, the
Company’s website is not incorporated by reference into this Annual Report and should not be considered part of this report or any other
filing the Company makes with the SEC.

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