ACKMAN WILLIAM A sold N/A

Footnotes

On April 21, 2026, approximately 1.8% of the membership interest in the Sponsor (as defined below) were transferred from PSLP (as defined below) to PS Redemption, L.P. ("RedemptionCo"), which was formed for the purpose of giving effect to the redemption of certain limited partner interests of PSLP in connection with a special redemption opportunity that was consummated on April 21, 2026. The membership interest transferred to RedemptionCo represents a proportionate number of shares of the Issuer's common stock, par value $0.0001 per share ("Common Stock") and Sponsor Warrants (as defined below) held by the Sponsor. The transfer of the membership interest did not result in a change of aggregate ownership of the Issuer's common stock and Sponsor Warrants by the Sponsor.; (Continued from Footnote 1) The 422,533 shares of the Issuer's Common Stock were issued to the Sponsor prior to the Issuer's initial public distribution. The aggregate voting power of the 422,533 shares of Common Stock is equal to 100% of the total voting power of the Issuer's Common Stock outstanding immediately following the initial public distribution.; In addition to William A. Ackman, a citizen of the United States of America, this Form 4 is being filed jointly by Pershing Square Capital Management, L.P., a Delaware limited partnership ("Pershing Square"), and PSCM GP, LLC, a Delaware limited liability company ("PS Management" and collectively, the "Reporting Persons"), each of whom has the same business address as Pershing Square and may be deemed to have a pecuniary interest in securities reported on this Form 4 (the "Subject Securities").; Pershing Square advises the accounts of Pershing Square, L.P., a Delaware limited partnership ("PSLP"), Pershing Square International, Ltd., a Cayman Islands exempted company ("PS International"), and Pershing Square Holdings, Ltd., a limited liability company incorporated in Guernsey ("PSH" and together with PSLP and PS International, the "Pershing Square Funds") and RedemptionCo. The Pershing Square Funds and RedemptionCo are the members of Pershing Square SPARC Sponsor, LLC, a Delaware limited liability company ("Sponsor"). Pershing Square is the non-member manager of the Sponsor. Pershing Square also advises PS SPARC I Master, L.P. ("SPARC Master LP").; Pershing Square, as the investment adviser to the Pershing Square Funds and RedemptionCo, may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934. As the general partner of Pershing Square, PS Management may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a). By virtue of William A. Ackman's position as Chief Executive Officer of Pershing Square and as the managing member of PS Management, William A. Ackman may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a). Each of the Reporting Persons disclaims any beneficial ownership of any of the Subject Securities, except to the extent of any pecuniary interest therein.