MELAR ACQUISITION CORP. I

Ticker: MACI CUSIP: G6004G100 Class: SHS CL A

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (3)

Crossingbridge Advisors, LLC
Value ($000) $2,245 Shares 211,535
RiverPark Advisors, LLC
Value ($000) $1,983 Shares 186,535
ABC ARBITRAGE SA
Value ($000) $213 Shares 20,000

Increased Positions (5)

BERKLEY W R CORP
Value ($000) $9,232 (+36.1%) Shares 868,489 (+34.5%)
MIZUHO SECURITIES USA LLC
Value ($000) $10,817 (+16.0%) Shares 1,027,274 (+15.3%)
WOLVERINE ASSET MANAGEMENT LLC
Value ($000) $10,935 (+12.4%) Shares 1,028,689 (+11.1%)
TORONTO DOMINION BANK
Value ($000) $1,416 (+12.3%) Shares 133,198 (+11.0%)
MORGAN STANLEY
Value ($000) $1 (+224.0%) Shares 61 (+221.1%)

Decreased Positions (6)

Periscope Capital Inc.
Value ($000) $1,952 (-21.1%) Shares 183,612 (-22.0%)
Quarry LP
Value ($000) $0 (-100.0%) Shares 11 (-100.0%)
HEIGHTS CAPITAL MANAGEMENT, INC
Value ($000) $554 (-18.0%) Shares 52,161 (-19.0%)
LONGFELLOW INVESTMENT MANAGEMENT CO LLC
Value ($000) $6 (-92.6%) Shares 550 (-92.7%)
TWO SIGMA INVESTMENTS, LP
Value ($000) $2,325 (-41.0%) Shares 218,703 (-41.7%)
Dakota Wealth Management
Value ($000) $399 (-2.7%) Shares 37,500 (-3.8%)

Exited Positions (3)

BCK Capital Management LP
Value ($000) $723 Shares 68,874
Sandia Investment Management LP
Value ($000) $249 Shares 23,711
COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS
Value ($000) $4,200 Shares 400,000