NOTE 3. INITIAL PUBLIC OFFERING

Pursuant to the Initial Public Offering on May 27, 2025, the Company sold 23,000,000 Units at a purchase price of $10.00 per Unit for a total of $230,000,000, which includes the full exercise of the underwriters’ over-allotment option in the amount of 3,000,000 units. Each Unit has a price of $10.00 and consists of one Class A ordinary share and one right (“Public Right”) entitling the holder thereof to receive one-tenth (1/10) of one Class A ordinary share upon the consummation of an initial Business Combination.

10

CAL REDWOOD ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2026

(Unaudited)