PYROPHYTE ACQUISITION CORP.

Ticker: PAII/WS CUSIP: G7309T110 Class: *W EXP 07/30/203

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (10)

HGC Investment Management Inc.
Value ($000) $179 Shares 425,000
Wealthspring Capital LLC
Value ($000) $40 Shares 106,395
BOOTHBAY FUND MANAGEMENT, LLC
Value ($000) $201 Shares 20,000
Polar Asset Management Partners Inc.
Value ($000) $150 Shares 375,000
Alberta Investment Management Corp
Value ($000) $150 Shares 375,000
MOORE CAPITAL MANAGEMENT, LP
Value ($000) $100 Shares 250,000
Magnetar Financial LLC
Value ($000) $75 Shares 187,915
OMERS ADMINISTRATION Corp
Value ($000) $70 Shares 175,000
READYSTATE ASSET MANAGEMENT LP
Value ($000) $11 Shares 28,372
StoneX Group Inc.
Value ($000) $4 Shares 11,051

Increased Positions (4)

Harraden Circle Investments, LLC
Value ($000) $416 (+43.2%) Shares 1,038,991 (+25.3%)
Shaolin Capital Management LLC
Value ($000) $162 (+19.4%) Shares 404,899 (+4.5%)
TORONTO DOMINION BANK
Value ($000) $53 (+32.4%) Shares 133,238 (+15.9%)
Schonfeld Strategic Advisors LLC
Value ($000) $87 (+23.8%) Shares 216,601 (+8.3%)

Decreased Positions (5)

COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS
Value ($000) $48 (-8.2%) Shares 120,440 (-19.7%)
Parallax Volatility Advisers, L.P.
Value ($000) $43 (-10.6%) Shares 108,000 (-21.7%)
Verition Fund Management LLC
Value ($000) $132 (+8.0%) Shares 330,700 (-5.5%)
Clear Street Group Inc.
Value ($000) $69 (+10.8%) Shares 173,423 (-3.0%)
GLAZER CAPITAL, LLC
Value ($000) $0 (-35.6%) Shares 100,000 (-42.8%)

Exited Positions (2)

OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AM
Value ($000) $26 Shares 75,000
HIGHBRIDGE CAPITAL MANAGEMENT LLC
Value ($000) $0 Shares 500