SIZZLE ACQUISITION CORP. II

Ticker: SZZL CUSIP: G8193F109 Class: USD CL A ORD SHS

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (2)

PenderFund Capital Management Ltd.

Value ($000) $443 Shares 43,642

METEORA CAPITAL, LLC

Value ($000) $592 Shares 58,273

Institution	Shares	Value ($000)
PenderFund Capital Management Ltd.	43,642	$443
METEORA CAPITAL, LLC	58,273	$592

Increased Positions (8)

RIVERNORTH CAPITAL MANAGEMENT, LLC

Value ($000) $5,055 (+26.2%) Shares 497,500 (+25.2%)

Logan Stone Capital, LLC

Value ($000) $493 (+84.3%) Shares 48,560 (+82.8%)

Radcliffe Capital Management, L.P.

Value ($000) $4,973 (+15.4%) Shares 489,484 (+14.5%)

WOLVERINE ASSET MANAGEMENT LLC

Value ($000) $10,175 (+24.6%) Shares 1,001,497 (+23.6%)

MIZUHO SECURITIES USA LLC

Value ($000) $2,264 (+4.0%) Shares 224,944 (+3.6%)

MILLENNIUM MANAGEMENT LLC

Value ($000) $7,239 (+2.6%) Shares 712,500 (+1.8%)

UBS Group AG

Value ($000) $213 (+64.0%) Shares 20,971 (+62.8%)

Virtu Financial LLC

Value ($000) $0 (+3.6%) Shares 28,613 (+3.1%)

Institution	Prev Shares	Curr Shares	Change
RIVERNORTH CAPITAL MANAGEMENT, LLC	397,500	497,500	+100,000 (+25.2%)
Logan Stone Capital, LLC	26,560	48,560	+22,000 (+82.8%)
Radcliffe Capital Management, L.P.	427,445	489,484	+62,039 (+14.5%)
WOLVERINE ASSET MANAGEMENT LLC	810,419	1,001,497	+191,078 (+23.6%)
MIZUHO SECURITIES USA LLC	217,046	224,944	+7,898 (+3.6%)
MILLENNIUM MANAGEMENT LLC	700,000	712,500	+12,500 (+1.8%)
UBS Group AG	12,885	20,971	+8,086 (+62.8%)
Virtu Financial LLC	27,758	28,613	+855 (+3.1%)

Decreased Positions (10)

Periscope Capital Inc.

Value ($000) $3,716 (-7.8%) Shares 365,756 (-8.6%)

K2 PRINCIPAL FUND, L.P.

Value ($000) $188 (-81.4%) Shares 18,479 (-81.5%)

Wealthspring Capital LLC

Value ($000) $2,602 (-1.2%) Shares 256,090 (-1.9%)

Bulldog Investors, LLP

Value ($000) $1,703 (-2.3%) Shares 167,604 (-3.1%)

Shaolin Capital Management LLC

Value ($000) $4,064 (-7.3%) Shares 400,000 (-8.0%)

Schonfeld Strategic Advisors LLC

Value ($000) $2,547 (-17.2%) Shares 250,650 (-17.8%)

Verition Fund Management LLC

Value ($000) $1,393 (-18.1%) Shares 137,060 (-18.4%)

Clear Street Group Inc.

Value ($000) $1,175 (-19.6%) Shares 115,603 (-20.3%)

MORGAN STANLEY

Value ($000) $1 (-98.3%) Shares 84 (-98.3%)

TORONTO DOMINION BANK

Value ($000) $371 (-4.4%) Shares 36,500 (-5.2%)

Institution	Prev Shares	Curr Shares	Change
Periscope Capital Inc.	400,002	365,756	-34,246 (-8.6%)
K2 PRINCIPAL FUND, L.P.	100,000	18,479	-81,521 (-81.5%)
Wealthspring Capital LLC	261,140	256,090	-5,050 (-1.9%)
Bulldog Investors, LLP	172,988	167,604	-5,384 (-3.1%)
Shaolin Capital Management LLC	434,972	400,000	-34,972 (-8.0%)
Schonfeld Strategic Advisors LLC	305,071	250,650	-54,421 (-17.8%)
Verition Fund Management LLC	167,990	137,060	-30,930 (-18.4%)
Clear Street Group Inc.	145,005	115,603	-29,402 (-20.3%)
MORGAN STANLEY	5,068	84	-4,984 (-98.3%)
TORONTO DOMINION BANK	38,500	36,500	-2,000 (-5.2%)

Exited Positions (1)

Parallax Volatility Advisers, L.P.

Value ($000) $806 Shares 79,972

Institution	Prev Shares	Prev Value ($000)
Parallax Volatility Advisers, L.P.	79,972	$806