| Schedule of Conversion Ratio for Convertible Preferred Units Issued |
The Conversion ratio for
convertible preferred units issued as of December 31, 2025 was as follows:
| | | Convertible
Preferred
Units | | | Conversion
Ratio | | | New EM
common
shares | | | March 2024 | | | 1,100,003 | | | | 1:1 | | | | 1,100,003 | | | April 2024 | | | 864,655 | | | | 1:1 | | | | 864,655 | | | May 2024 | | | 1,265,347 | | | | 1:1 | | | | 1,265,347 | | | June 2024 | | | 2,500,000 | | | | 5:1 | | | | 500,000 | | | July 2024 | | | 19,500,016 | | | | 5:1 | | | | 3,900,003 | | | August 2024 | | | 100,000 | | | | 5:1 | | | | 20,000 | | | October 2024 | | | 5,700,000 | | | | 5:1 | | | | 1,140,000 | | | November 2024 | | | 500,000 | | | | 5:1 | | | | 100,000 | | | December 2024 | | | 3,700,000 | | | | 5:1 | | | | 740,000 | | | January 2025 | | | 500,000 | | | | 5:1 | | | | 100,000 | | | February 2025 | | | 2,700,000 | | | | 5:1 | | | | 540,000 | | | March 2025 | | | 1,850,000 | | | | 5:1 | | | | 370,000 | | | March 2025 | | | 2,000,000 | | | | 1:1 | | | | 2,000,000 | | | September 2025 | | | 16,550,000 | | | | 6:1 | | | | 2,758,333 | | | October 2025 | | | 620,000 | | | | 6:1 | | | | 103,333 | | | December 2025 | | | 221,000 | | | | 6:1 | | | | 36,833 | | | Total | | | 59,671,021 | | | | | | | | 15,538,507 | |
|