Summary of Significant Accounting Policies - Armada - Annual (Tables) - Armada Acquisition Corp. II

6 Months Ended

Jun. 30, 2026

Summary of Possible Redemption Reflected in the Balance Sheet are Reconciled

As of September 30, 2025, the Class A ordinary shares subject to possible redemption reflected in the balance sheet are reconciled in the following table:


Gross proceeds	$	230,000,000
Less:
Proceeds allocated to Public Warrants	(3,565,000)
Class A ordinary shares issuance cost	(14,171,895)
Accretion of carrying value to redemption value	22,365,061
Class A Ordinary Shares subject to possible redemption, September 30, 2025	$	234,628,166

As of June 30, 2026, the Class A ordinary shares subject to possible redemption reflected in the unaudited condensed balance sheets are reconciled in the following table:


Gross proceeds	$	230,000,000
Less:
Proceeds allocated to Public Warrants	(3,565,000)
Class A ordinary shares issuance cost	(14,171,895)
Accretion of carrying value to redemption value	22,365,061
Class A Ordinary Shares subject to possible redemption, September 30, 2025	234,628,166
Plus:
Accretion of carrying value to redemption value	6,536,139
Class A Ordinary Shares subject to possible redemption, June 30, 2026	$	241,164,305

Summary of Basic and Diluted Net Income Per Ordinary Share

The following table reflects the calculation of basic and diluted net income per ordinary share:


	For the period from October 3, 2024 (inception) through September 30, 2025
	Class A - Redeemable		Class A & B - Non-redeemable
Basic net income per ordinary share
Numerator:
Allocation of net income	$	933,203	$	838,780
Denominator:
Basic weighted average shares outstanding	8,323,204		7,481,056
Basic net income per ordinary share	$	0.11	$	0.11


	For the period from October 3, 2024 (inception) through September 30, 2025
	Redeemable Class A		Non-redeemable Class A & B
Diluted net income per ordinary share
Numerator:
Allocation of net income	$	896,018	$	875,965
Denominator:
Diluted weighted average shares outstanding	8,323,204		8,136,934
Diluted net income per ordinary share	$	0.11	$	0.11

The following table reflects the calculation of basic and diluted net income per ordinary share:


	For the Three Months Ended June 30, 2026				For the Three Months Ended June 30, 2025				For the Nine Months Ended June 30, 2026				For the Period from October 3, 2024 (Inception) through June 30, 2025
	Class A - Redeemable		Class A & B - Non-redeemable		Class A - Redeemable		Class A & B - Non-redeemable		Class A - Redeemable		Class A & B - Non-redeemable		Class A - Redeemable		Class A & B - Non-redeemable
Basic net income per ordinary share
Numerator:
Allocation of net income	$	1,183,366	$	441,961	$	501,013	$	386,133	$	1,567,466	$	585,414	$	267,888	$	572,768

Denominator:
Basic weighted average shares outstanding	23,000,000		8,590,000		9,857,143		7,596,957		23,000,000		8,590,000		3,322,222		7,103,193

Basic net income per ordinary share	$	0.05	$	0.05	$	0.05	$	0.05	$	0.07	$	0.07	$	0.08	$	0.08


	For the Three Months Ended June 30, 2026				For the Three Months Ended June 30, 2025				For the Nine Months Ended June 30, 2026				For the Period from October 3, 2024 (Inception) through June 30, 2025
	Class A - Redeemable		Class A & B - Non-redeemable		Class A - Redeemable		Class A & B - Non-redeemable		Class A - Redeemable		Class A & B - Non-redeemable		Class A - Redeemable		Class A & B - Non-redeemable
Diluted net income per ordinary share
Numerator:
Allocation of net income	$	1,183,366	$	441,961	$	484,702	$	402,444	$	1,567,466	$	585,414	$	247,050	$	593,606
Denominator:
Diluted weighted average shares outstanding	23,000,000		8,590,000		9,857,143		8,184,286		23,000,000		8,590,000		3,322,222		7,982,556
Diluted net income per ordinary share	$	0.05	$	0.05	$	0.05	$	0.05	$	0.07	$	0.07	$	0.07	$	0.07

- Definition

Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

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