TWELVE SEAS INVT CO III

Ticker: TWLVU CUSIP: G9145D127 Class: UNIT 11/21/2030

MMCAP International Inc. SPC's Holding History (CIK: 0001304857)

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

Q4 2025

Shares 400,000 Value ($000) $3,980 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	400,000	$3,980	—	—