MRLN

SEC source: 0001628280-26-062747 · wk-form4_1789763581.xml · nonDerivative · entry 1

BLITZER MICHAEL · CIK 0001458423 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 300,000

F1 · kind: On September 16, 2026, Bleichroeder Sponsor 1 LLC (the "Sponsor") distributed an aggregate of 8,333,333 shares of common stock, par value $0.0001 per share of the Issuer ("Common Stock") to its members as a pro rata distribution for no consideration in accordance with the terms of the Sponsor's limited liability company agreement. 262,500 shares of Common Stock were distributed to Michael Blitzer on such basis.

F1 · price: On September 16, 2026, Bleichroeder Sponsor 1 LLC (the "Sponsor") distributed an aggregate of 8,333,333 shares of common stock, par value $0.0001 per share of the Issuer ("Common Stock") to its members as a pro rata distribution for no consideration in accordance with the terms of the Sponsor's limited liability company agreement. 262,500 shares of Common Stock were distributed to Michael Blitzer on such basis.

SEC source: 0001628280-26-062743 · wk-form4_1789763475.xml · nonDerivative · entry 1

George Matthew Spencer · CIK 0002117604 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 15,420,961

F1 · price: Represents shares of common stock withheld by the Issuer to satisfy the Reporting Person's tax withholding obligations in connection with the vesting of restricted stock units on September 16, 2026. The price reported reflects the closing price of the Issuer's common stock on the vesting date, used solely to determine the number of shares withheld.

SEC source: 0001493152-26-043374 · ownership.xml · nonDerivative · entry 2

FR Capital Holdings, L.P. · CIK 0001776703 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 0

F2 · kind: First Round Capital VIII F, L.P. ("FRCVIII F") distributed these shares to its partners on a pro rata basis, for no consideration.

F3 · ownership.nature: FR Capital Holdings, L.P., a Delaware limited partnership (the "Reporting Person"), is the investment manager of FRCVI, First Round Capital VI Partners Fund, L.P. ("FRCVI Partners"), FRCVIII F, and First Round Capital VIII F Partners Fund, L.P. ("FRCVIII F Partners"). The Reporting Person is managed by an investment committee comprised of three individuals. As a result, the Reporting Person may be deemed to have beneficial ownership of the securities reported herein. The Reporting Person disclaims beneficial ownership of the securities except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.

F5 · ownership.nature: The securities were directly held by FRCVIII F, as nominee for itself and FRCVIII F Partners.

SEC source: 0001493152-26-043374 · ownership.xml · nonDerivative · entry 1

FR Capital Holdings, L.P. · CIK 0001776703 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 0

F1 · kind: First Round Capital VI, L.P. ("FRCVI") distributed these shares to its partners on a pro rata basis, for no consideration.

F3 · ownership.nature: FR Capital Holdings, L.P., a Delaware limited partnership (the "Reporting Person"), is the investment manager of FRCVI, First Round Capital VI Partners Fund, L.P. ("FRCVI Partners"), FRCVIII F, and First Round Capital VIII F Partners Fund, L.P. ("FRCVIII F Partners"). The Reporting Person is managed by an investment committee comprised of three individuals. As a result, the Reporting Person may be deemed to have beneficial ownership of the securities reported herein. The Reporting Person disclaims beneficial ownership of the securities except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.

F4 · ownership.nature: The securities were directly held by FRCVI, as nominee for itself and FRCVI Partners.

SEC source: 0001628280-26-062744 · wk-form4_1789763511.xml · nonDerivative · entry 1

Carrithers Ryan Michael · CIK 0002117603 · CFO & Treasurer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 255,343

F1 · price: Represents shares of common stock withheld by the Issuer to satisfy the Reporting Person's tax withholding obligations in connection with the vesting of restricted stock units on September 16, 2026. The price reported reflects the closing price of the Issuer's common stock on the vesting date, used solely to determine the number of shares withheld.

SEC source: 0001628280-26-062745 · wk-form4_1789763539.xml · nonDerivative · entry 1

Ravestein Leslie Renee · CIK 0002117606 · CLO and Secretary

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 197,935

F1 · price: Represents shares of common stock withheld by the Issuer to satisfy the Reporting Person's tax withholding obligations in connection with the vesting of restricted stock units on September 16, 2026. The price reported reflects the closing price of the Issuer's common stock on the vesting date, used solely to determine the number of shares withheld.

SEC source: 0001628280-26-037535 · wk-form4_1779449440.xml · derivative · entry 2

Carrithers Ryan Michael · CIK 0002117603 · CFO & Treasurer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 806,393

Underlying: Common stock · 806,393 shares

Expires 2036-05-20

F2 · derivative.exercise_date: The stock option vests as to 25% of the underlying shares on October 14, 2026, and the remaining will vest in 36 substantially equal monthly installments thereafter.

SEC source: 0001628280-26-037535 · wk-form4_1779449440.xml · nonDerivative · entry 1

Carrithers Ryan Michael · CIK 0002117603 · CFO & Treasurer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 256,416

F1 · price: Represents an award of (i) 241,416 restricted stock units (RSUs), which vest in three equal annual installments beginning on March 16, 2027, and (ii) 15,000 RSUs, which vest in four equal installments every six months beginning on September 16, 2026. Each RSU represents a contingent right to receive one share of Common Stock. The RSUs do not expire.

SEC source: 0001628280-26-037532 · wk-form4_1779449410.xml · nonDerivative · entry 1

Braithwaite Kenneth John · CIK 0002117645 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 37,500

F1 · price: Represents an award of (i) 20,000 restricted stock units (RSUs), which vest in four equal installments every six months beginning on September 16, 2026, and (ii) 17,500 RSUs, which vest in full on the earlier to occur of (i) March 16, 2027, and (ii) one day prior to the date of the Issuers 2027 annual meeting of shareholders. Each RSU represents a contingent right to receive one share of Common Stock. The RSUs do not expire.

SEC source: 0001628280-26-037531 · wk-form4_1779449380.xml · nonDerivative · entry 1

Smith Robert Hanson · CIK 0002102140 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 37,500

F1 · price: Represents an award of (i) 20,000 restricted stock units (RSUs), which vest in four equal installments every six months beginning on September 16, 2026, and (ii) 17,500 RSUs, which vest in full on the earlier to occur of (i) March 16, 2027, and (ii) one day prior to the date of the Issuers 2027 annual meeting of shareholders. Each RSU represents a contingent right to receive one share of Common Stock. The RSUs do not expire.

SEC source: 0001628280-26-037530 · wk-form4_1779449360.xml · nonDerivative · entry 1

BRANNON KELYN · CIK 0001483484 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 37,500

F1 · price: Represents an award of (i) 20,000 restricted stock units (RSUs), which vest in four equal installments every six months beginning on September 16, 2026, and (ii) 17,500 RSUs, which vest in full on the earlier to occur of (i) March 16, 2027, and (ii) one day prior to the date of the Issuers 2027 annual meeting of shareholders. Each RSU represents a contingent right to receive one share of Common Stock. The RSUs do not expire.

SEC source: 0001628280-26-037529 · wk-form4_1779449329.xml · nonDerivative · entry 1

BLITZER MICHAEL · CIK 0001458423 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 37,500

F1 · price: Represents an award of (i) 20,000 restricted stock units (RSUs), which vest in four equal installments every six months beginning on September 16, 2026, and (ii) 17,500 RSUs, which vest in full on the earlier to occur of (i) March 16, 2027, and (ii) one day prior to the date of the Issuers 2027 annual meeting of shareholders. Each RSU represents a contingent right to receive one share of Common Stock. The RSUs do not expire.

SEC source: 0001628280-26-037528 · wk-form4_1779449297.xml · nonDerivative · entry 1

Montelongo Michael · CIK 0001328755 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 37,500

F1 · price: Represents an award of (i) 20,000 restricted stock units (RSUs), which vest in four equal installments every six months beginning on September 16, 2026, and (ii) 17,500 RSUs, which vest in full on the earlier to occur of (i) March 16, 2027, and (ii) one day prior to the date of the Issuers 2027 annual meeting of shareholders. Each RSU represents a contingent right to receive one share of Common Stock. The RSUs do not expire.

SEC source: 0001628280-26-037527 · wk-form4_1779449266.xml · nonDerivative · entry 1

Brunner Mark Rawlins · CIK 0002127381 · Chief Revenue Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 225,904

F1 · price: Represents an award of restricted stock units (RSUs), which vest in three equal annual installments beginning on April 7, 2027. Each RSU represents a contingent right to receive one share of Common Stock. The RSUs do not expire.

SEC source: 0001628280-26-037526 · wk-form4_1779449233.xml · nonDerivative · entry 1

Trabuco Carolyn · CIK 0001897745 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 37,500

F1 · price: Represents an award of (i) 20,000 restricted stock units (RSUs), which vest in four equal installments every six months beginning on September 16, 2026, and (ii) 17,500 RSUs, which vest in full on the earlier to occur of (i) March 16, 2027, and (ii) one day prior to the date of the Issuers 2027 annual meeting of shareholders. Each RSU represents a contingent right to receive one share of Common Stock. The RSUs do not expire.

SEC source: 0001628280-26-037525 · wk-form4_1779449203.xml · derivative · entry 2

Ravestein Leslie Renee · CIK 0002117606 · CLO and Secretary

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 205,475

Underlying: Common stock · 205,475 shares

Expires 2036-05-20

F2 · derivative.exercise_date: The stock option vests as to 25% of the underlying shares on November 12, 2026, and the remaining will vest in 36 substantially equal monthly installments thereafter.

SEC source: 0001628280-26-037525 · wk-form4_1779449203.xml · nonDerivative · entry 1

Ravestein Leslie Renee · CIK 0002117606 · CLO and Secretary

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 199,036

F1 · price: Represents an award of (i) 184,036 restricted stock units (RSUs), which vest in three equal annual installments beginning on March 16, 2027, and (ii) 15,000 RSUs, which vest in four equal installments every six months beginning on September 16, 2026. Each RSU represents a contingent right to receive one share of Common Stock. The RSUs do not expire.

SEC source: 0001628280-26-037524 · wk-form4_1779449163.xml · nonDerivative · entry 1

George Matthew Spencer · CIK 0002117604 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 15,422,429

F1 · price: Represents an award of (i) 451,807 restricted stock units (RSUs), which vest in three equal annual installments beginning on March 16, 2027, (ii) 20,000 RSUs, which vest in four equal installments every six months beginning on September 16, 2026, and (iii) 60,000 RSUs, which vest in full on March 16, 2027. Each RSU represents a contingent right to receive one share of Common Stock. The RSUs do not expire.

SEC source: 0001213900-26-030016 · ownership.xml · derivative · entry 4

Bleichroeder Sponsor 1 LLC · CIK 0002031321 · 10% owner

Gundlach Andrew · CIK 0002031329 · 10% owner · Former Director

Combes Michel · CIK 0001708849 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Rights · 42,500 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · derivative.exercise_price: In connection with the Closing of the Business Combination, the 425,000 rights held by the Sponsor, each entitling the holder to receive one-tenth (1/10) of one share upon the closing of the Issuer's initial business combination, converted into 42,500 shares of Common Stock as described under the heading "Description of Securities" in Inflection Point's Registration Statement on Form S-1 (File No. 333-280777).

F3 · kind: In connection with the Closing of the Business Combination, the 425,000 rights held by the Sponsor, each entitling the holder to receive one-tenth (1/10) of one share upon the closing of the Issuer's initial business combination, converted into 42,500 shares of Common Stock as described under the heading "Description of Securities" in Inflection Point's Registration Statement on Form S-1 (File No. 333-280777).

F3 · price: In connection with the Closing of the Business Combination, the 425,000 rights held by the Sponsor, each entitling the holder to receive one-tenth (1/10) of one share upon the closing of the Issuer's initial business combination, converted into 42,500 shares of Common Stock as described under the heading "Description of Securities" in Inflection Point's Registration Statement on Form S-1 (File No. 333-280777).

F3 · derivative.exercise_date: In connection with the Closing of the Business Combination, the 425,000 rights held by the Sponsor, each entitling the holder to receive one-tenth (1/10) of one share upon the closing of the Issuer's initial business combination, converted into 42,500 shares of Common Stock as described under the heading "Description of Securities" in Inflection Point's Registration Statement on Form S-1 (File No. 333-280777).

F3 · derivative.expiration_date: In connection with the Closing of the Business Combination, the 425,000 rights held by the Sponsor, each entitling the holder to receive one-tenth (1/10) of one share upon the closing of the Issuer's initial business combination, converted into 42,500 shares of Common Stock as described under the heading "Description of Securities" in Inflection Point's Registration Statement on Form S-1 (File No. 333-280777).

F2 · ownership.direct: Bleichroeder Sponsor 1 LLC (the "Sponsor") is the record holder of such securities. MC Advisory L.L.C-FZ, an entity formed in Dubai (of which Michel Combes, one of the Issuer's Co-Founders, is the manager), as well as Andrew Gundlach, the former Executive Chairman of the Issuer, are the managing members of the Sponsor and hold voting and investment discretion with respect to the shares held of record by the Sponsor. As such, each of Mr. Combes and Mr. Gundlach may be deemed to have beneficial ownership of the securities held of record by the Sponsor. Each of Mr. Combes and Mr. Gundlach disclaims any beneficial ownership of the securities held of record by the Sponsor other than to the extent of any pecuniary interest they may have therein, directly or indirectly.

SEC source: 0001213900-26-030016 · ownership.xml · nonDerivative · entry 2

Bleichroeder Sponsor 1 LLC · CIK 0002031321 · 10% owner

Gundlach Andrew · CIK 0002031329 · 10% owner · Former Director

Combes Michel · CIK 0001708849 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 8,800,833

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · kind: In connection with the Closing of the Business Combination, the 425,000 rights held by the Sponsor, each entitling the holder to receive one-tenth (1/10) of one share upon the closing of the Issuer's initial business combination, converted into 42,500 shares of Common Stock as described under the heading "Description of Securities" in Inflection Point's Registration Statement on Form S-1 (File No. 333-280777).

F3 · price: In connection with the Closing of the Business Combination, the 425,000 rights held by the Sponsor, each entitling the holder to receive one-tenth (1/10) of one share upon the closing of the Issuer's initial business combination, converted into 42,500 shares of Common Stock as described under the heading "Description of Securities" in Inflection Point's Registration Statement on Form S-1 (File No. 333-280777).

F2 · ownership.direct: Bleichroeder Sponsor 1 LLC (the "Sponsor") is the record holder of such securities. MC Advisory L.L.C-FZ, an entity formed in Dubai (of which Michel Combes, one of the Issuer's Co-Founders, is the manager), as well as Andrew Gundlach, the former Executive Chairman of the Issuer, are the managing members of the Sponsor and hold voting and investment discretion with respect to the shares held of record by the Sponsor. As such, each of Mr. Combes and Mr. Gundlach may be deemed to have beneficial ownership of the securities held of record by the Sponsor. Each of Mr. Combes and Mr. Gundlach disclaims any beneficial ownership of the securities held of record by the Sponsor other than to the extent of any pecuniary interest they may have therein, directly or indirectly.

SEC source: 0001213900-26-030909 · ownership.xml · derivative · entry 2

George Matthew Spencer · CIK 0002117604 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,512,485

Underlying: Common Stock · 1,512,485 shares

Expires 2036-02-03

F1 · kind: Represents securities received as part of the Issuer's business combination, in connection with the Business Combination Agreement, dated as of August 13, 2025, by and among the Issuer (formerly known as Inflection Point Acquisition Corp. IV), IPDX Merger Sub, Inc., a direct wholly owned subsidiary of the Issuer, and Merlin Labs, Inc. ("Legacy Merlin"), pursuant to which the common stock of Legacy Merlin automatically converted into newly issued shares of Common Stock. In addition, each Legacy Merlin stock option was automatically converted into the right to receive stock options of the Issuer with the same terms and conditions.

F1 · price: Represents securities received as part of the Issuer's business combination, in connection with the Business Combination Agreement, dated as of August 13, 2025, by and among the Issuer (formerly known as Inflection Point Acquisition Corp. IV), IPDX Merger Sub, Inc., a direct wholly owned subsidiary of the Issuer, and Merlin Labs, Inc. ("Legacy Merlin"), pursuant to which the common stock of Legacy Merlin automatically converted into newly issued shares of Common Stock. In addition, each Legacy Merlin stock option was automatically converted into the right to receive stock options of the Issuer with the same terms and conditions.

F2 · derivative.exercise_date: The stock option will vest in full on February 4, 2027.

SEC source: 0001213900-26-030909 · ownership.xml · nonDerivative · entry 1

George Matthew Spencer · CIK 0002117604 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 14,890,622

F1 · kind: Represents securities received as part of the Issuer's business combination, in connection with the Business Combination Agreement, dated as of August 13, 2025, by and among the Issuer (formerly known as Inflection Point Acquisition Corp. IV), IPDX Merger Sub, Inc., a direct wholly owned subsidiary of the Issuer, and Merlin Labs, Inc. ("Legacy Merlin"), pursuant to which the common stock of Legacy Merlin automatically converted into newly issued shares of Common Stock. In addition, each Legacy Merlin stock option was automatically converted into the right to receive stock options of the Issuer with the same terms and conditions.

F1 · price: Represents securities received as part of the Issuer's business combination, in connection with the Business Combination Agreement, dated as of August 13, 2025, by and among the Issuer (formerly known as Inflection Point Acquisition Corp. IV), IPDX Merger Sub, Inc., a direct wholly owned subsidiary of the Issuer, and Merlin Labs, Inc. ("Legacy Merlin"), pursuant to which the common stock of Legacy Merlin automatically converted into newly issued shares of Common Stock. In addition, each Legacy Merlin stock option was automatically converted into the right to receive stock options of the Issuer with the same terms and conditions.

SEC source: 0001213900-26-030016 · ownership.xml · derivative · entry 3

Bleichroeder Sponsor 1 LLC · CIK 0002031321 · 10% owner

Gundlach Andrew · CIK 0002031329 · 10% owner · Former Director

Combes Michel · CIK 0001708849 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Class A ordinary shares · 8,333,333 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: In connection with the closing (the "Closing") of the business combination (the "Business Combination") between the Issuer (which was formerly known as Inflection Point Acquisition Corp. IV or "Inflection Point") and Merlin Labs, Inc., immediately prior to the domestication of the Issuer as Delaware corporation, among other things, each of Inflection Point's Class B ordinary shares converted into one Class A ordinary share of Inflection Point as described under the heading "Description of Securities" in Inflection Point's Registration Statement on Form S-1 (File No. 333-280777). Immediately after such conversion, each Class A ordinary share of Inflection Point converted into one share of the Issuer's common stock (the "Common Stock") on a one-for-one basis.

F1 · kind: In connection with the closing (the "Closing") of the business combination (the "Business Combination") between the Issuer (which was formerly known as Inflection Point Acquisition Corp. IV or "Inflection Point") and Merlin Labs, Inc., immediately prior to the domestication of the Issuer as Delaware corporation, among other things, each of Inflection Point's Class B ordinary shares converted into one Class A ordinary share of Inflection Point as described under the heading "Description of Securities" in Inflection Point's Registration Statement on Form S-1 (File No. 333-280777). Immediately after such conversion, each Class A ordinary share of Inflection Point converted into one share of the Issuer's common stock (the "Common Stock") on a one-for-one basis.

F1 · derivative.exercise_date: In connection with the closing (the "Closing") of the business combination (the "Business Combination") between the Issuer (which was formerly known as Inflection Point Acquisition Corp. IV or "Inflection Point") and Merlin Labs, Inc., immediately prior to the domestication of the Issuer as Delaware corporation, among other things, each of Inflection Point's Class B ordinary shares converted into one Class A ordinary share of Inflection Point as described under the heading "Description of Securities" in Inflection Point's Registration Statement on Form S-1 (File No. 333-280777). Immediately after such conversion, each Class A ordinary share of Inflection Point converted into one share of the Issuer's common stock (the "Common Stock") on a one-for-one basis.

F1 · derivative.expiration_date: In connection with the closing (the "Closing") of the business combination (the "Business Combination") between the Issuer (which was formerly known as Inflection Point Acquisition Corp. IV or "Inflection Point") and Merlin Labs, Inc., immediately prior to the domestication of the Issuer as Delaware corporation, among other things, each of Inflection Point's Class B ordinary shares converted into one Class A ordinary share of Inflection Point as described under the heading "Description of Securities" in Inflection Point's Registration Statement on Form S-1 (File No. 333-280777). Immediately after such conversion, each Class A ordinary share of Inflection Point converted into one share of the Issuer's common stock (the "Common Stock") on a one-for-one basis.

F2 · ownership.direct: Bleichroeder Sponsor 1 LLC (the "Sponsor") is the record holder of such securities. MC Advisory L.L.C-FZ, an entity formed in Dubai (of which Michel Combes, one of the Issuer's Co-Founders, is the manager), as well as Andrew Gundlach, the former Executive Chairman of the Issuer, are the managing members of the Sponsor and hold voting and investment discretion with respect to the shares held of record by the Sponsor. As such, each of Mr. Combes and Mr. Gundlach may be deemed to have beneficial ownership of the securities held of record by the Sponsor. Each of Mr. Combes and Mr. Gundlach disclaims any beneficial ownership of the securities held of record by the Sponsor other than to the extent of any pecuniary interest they may have therein, directly or indirectly.

SEC source: 0001213900-26-030016 · ownership.xml · nonDerivative · entry 1

Bleichroeder Sponsor 1 LLC · CIK 0002031321 · 10% owner

Gundlach Andrew · CIK 0002031329 · 10% owner · Former Director

Combes Michel · CIK 0001708849 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 8,758,333

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: In connection with the closing (the "Closing") of the business combination (the "Business Combination") between the Issuer (which was formerly known as Inflection Point Acquisition Corp. IV or "Inflection Point") and Merlin Labs, Inc., immediately prior to the domestication of the Issuer as Delaware corporation, among other things, each of Inflection Point's Class B ordinary shares converted into one Class A ordinary share of Inflection Point as described under the heading "Description of Securities" in Inflection Point's Registration Statement on Form S-1 (File No. 333-280777). Immediately after such conversion, each Class A ordinary share of Inflection Point converted into one share of the Issuer's common stock (the "Common Stock") on a one-for-one basis.

F1 · price: In connection with the closing (the "Closing") of the business combination (the "Business Combination") between the Issuer (which was formerly known as Inflection Point Acquisition Corp. IV or "Inflection Point") and Merlin Labs, Inc., immediately prior to the domestication of the Issuer as Delaware corporation, among other things, each of Inflection Point's Class B ordinary shares converted into one Class A ordinary share of Inflection Point as described under the heading "Description of Securities" in Inflection Point's Registration Statement on Form S-1 (File No. 333-280777). Immediately after such conversion, each Class A ordinary share of Inflection Point converted into one share of the Issuer's common stock (the "Common Stock") on a one-for-one basis.

F2 · ownership.direct: Bleichroeder Sponsor 1 LLC (the "Sponsor") is the record holder of such securities. MC Advisory L.L.C-FZ, an entity formed in Dubai (of which Michel Combes, one of the Issuer's Co-Founders, is the manager), as well as Andrew Gundlach, the former Executive Chairman of the Issuer, are the managing members of the Sponsor and hold voting and investment discretion with respect to the shares held of record by the Sponsor. As such, each of Mr. Combes and Mr. Gundlach may be deemed to have beneficial ownership of the securities held of record by the Sponsor. Each of Mr. Combes and Mr. Gundlach disclaims any beneficial ownership of the securities held of record by the Sponsor other than to the extent of any pecuniary interest they may have therein, directly or indirectly.

SEC source: 0001193125-26-077683 · ownership.xml · nonDerivative · entry 30

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000042352 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes

Disclosed balance after: 3,251,388

F1 · security: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the "Issuer") Class A Common Stock (the "Common Stock").

F2 · security: These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

F3 · ownership.nature: Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer.

F4 · ownership.nature: The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

SEC source: 0001193125-26-077683 · ownership.xml · nonDerivative · entry 29

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000042352 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes

Disclosed balance after: 3,251,391

F1 · security: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the "Issuer") Class A Common Stock (the "Common Stock").

F2 · security: These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

F3 · ownership.nature: Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer.

F4 · ownership.nature: The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

SEC source: 0001193125-26-077683 · ownership.xml · nonDerivative · entry 28

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000042352 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes

Disclosed balance after: 3,251,388

F1 · security: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the "Issuer") Class A Common Stock (the "Common Stock").

F2 · security: These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

F3 · ownership.nature: Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer.

F4 · ownership.nature: The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

SEC source: 0001193125-26-077683 · ownership.xml · nonDerivative · entry 27

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000042352 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes

Disclosed balance after: 3,252,238

F1 · security: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the "Issuer") Class A Common Stock (the "Common Stock").

F2 · security: These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

F3 · ownership.nature: Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer.

F4 · ownership.nature: The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

SEC source: 0001193125-26-077683 · ownership.xml · nonDerivative · entry 26

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000042352 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes

Disclosed balance after: 3,252,301

F1 · security: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the "Issuer") Class A Common Stock (the "Common Stock").

F2 · security: These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

F3 · ownership.nature: Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer.

F4 · ownership.nature: The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

SEC source: 0001193125-26-077683 · ownership.xml · nonDerivative · entry 25

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000042352 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes

Disclosed balance after: 3,252,304

F1 · security: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the "Issuer") Class A Common Stock (the "Common Stock").

F2 · security: These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

F3 · ownership.nature: Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer.

F4 · ownership.nature: The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

SEC source: 0001193125-26-077683 · ownership.xml · nonDerivative · entry 24

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000042352 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes

Disclosed balance after: 3,252,554

F1 · security: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the "Issuer") Class A Common Stock (the "Common Stock").

F2 · security: These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

F3 · ownership.nature: Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer.

F4 · ownership.nature: The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

SEC source: 0001193125-26-077683 · ownership.xml · nonDerivative · entry 23

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000042352 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes

Disclosed balance after: 3,252,617

F1 · security: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the "Issuer") Class A Common Stock (the "Common Stock").

F2 · security: These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

F3 · ownership.nature: Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer.

F4 · ownership.nature: The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

SEC source: 0001193125-26-077683 · ownership.xml · nonDerivative · entry 22

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000042352 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes

Disclosed balance after: 3,252,554

F1 · security: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the "Issuer") Class A Common Stock (the "Common Stock").

F2 · security: These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

F3 · ownership.nature: Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer.

F4 · ownership.nature: The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

SEC source: 0001193125-26-077683 · ownership.xml · nonDerivative · entry 21

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000042352 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes

Disclosed balance after: 3,252,491

F1 · security: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the "Issuer") Class A Common Stock (the "Common Stock").

F2 · security: These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

F3 · ownership.nature: Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer.

F4 · ownership.nature: The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

SEC source: 0001193125-26-077683 · ownership.xml · nonDerivative · entry 20

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000042352 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes

Disclosed balance after: 3,252,488

F1 · security: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the "Issuer") Class A Common Stock (the "Common Stock").

F2 · security: These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

F3 · ownership.nature: Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer.

F4 · ownership.nature: The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

SEC source: 0001193125-26-077683 · ownership.xml · nonDerivative · entry 19

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000042352 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes

Disclosed balance after: 3,285,714

F1 · security: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the "Issuer") Class A Common Stock (the "Common Stock").

F2 · security: These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

F3 · ownership.nature: Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer.

F4 · ownership.nature: The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

SEC source: 0001193125-26-077683 · ownership.xml · nonDerivative · entry 18

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000042352 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes

Disclosed balance after: 3,286,214

F1 · security: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the "Issuer") Class A Common Stock (the "Common Stock").

F2 · security: These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

F3 · ownership.nature: Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer.

F4 · ownership.nature: The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

SEC source: 0001193125-26-077683 · ownership.xml · nonDerivative · entry 17

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000042352 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes

Disclosed balance after: 3,286,844

F1 · security: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the "Issuer") Class A Common Stock (the "Common Stock").

F2 · security: These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

F3 · ownership.nature: Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer.

F4 · ownership.nature: The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

SEC source: 0001193125-26-077683 · ownership.xml · nonDerivative · entry 16

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000042352 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes

Disclosed balance after: 3,290,144

F1 · security: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the "Issuer") Class A Common Stock (the "Common Stock").

F2 · security: These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

F3 · ownership.nature: Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer.

F4 · ownership.nature: The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

SEC source: 0001193125-26-077683 · ownership.xml · nonDerivative · entry 15

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000042352 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes

Disclosed balance after: 3,290,158

F1 · security: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the "Issuer") Class A Common Stock (the "Common Stock").

F2 · security: These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

F3 · ownership.nature: Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer.

F4 · ownership.nature: The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

SEC source: 0001193125-26-077683 · ownership.xml · nonDerivative · entry 14

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000042352 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes

Disclosed balance after: 3,289,658

F1 · security: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the "Issuer") Class A Common Stock (the "Common Stock").

F2 · security: These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

F3 · ownership.nature: Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer.

F4 · ownership.nature: The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

SEC source: 0001193125-26-077683 · ownership.xml · nonDerivative · entry 13

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000042352 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes

Disclosed balance after: 3,289,207

F1 · security: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the "Issuer") Class A Common Stock (the "Common Stock").

F2 · security: These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

F3 · ownership.nature: Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer.

F4 · ownership.nature: The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

SEC source: 0001193125-26-077683 · ownership.xml · nonDerivative · entry 12

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000042352 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes

Disclosed balance after: 3,287,707

F1 · security: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the "Issuer") Class A Common Stock (the "Common Stock").

F2 · security: These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

F3 · ownership.nature: Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer.

F4 · ownership.nature: The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

SEC source: 0001193125-26-077683 · ownership.xml · nonDerivative · entry 11

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000042352 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes

Disclosed balance after: 3,286,242

F1 · security: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the "Issuer") Class A Common Stock (the "Common Stock").

F2 · security: These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

F3 · ownership.nature: Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer.

F4 · ownership.nature: The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

SEC source: 0001193125-26-077683 · ownership.xml · nonDerivative · entry 10

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000042352 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes

Disclosed balance after: 3,286,228

F1 · security: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the "Issuer") Class A Common Stock (the "Common Stock").

F2 · security: These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

F3 · ownership.nature: Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer.

F4 · ownership.nature: The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

SEC source: 0001193125-26-077683 · ownership.xml · nonDerivative · entry 9

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000042352 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes

Disclosed balance after: 2,833,374

F1 · security: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the "Issuer") Class A Common Stock (the "Common Stock").

F2 · security: These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

F3 · ownership.nature: Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer.

F4 · ownership.nature: The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

SEC source: 0001193125-26-077683 · ownership.xml · nonDerivative · entry 8

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000042352 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes

Disclosed balance after: 2,833,376

F1 · security: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the "Issuer") Class A Common Stock (the "Common Stock").

F2 · security: These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

F3 · ownership.nature: Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer.

F4 · ownership.nature: The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

SEC source: 0001193125-26-077683 · ownership.xml · nonDerivative · entry 7

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000042352 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes

Disclosed balance after: 2,833,380

F1 · security: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the "Issuer") Class A Common Stock (the "Common Stock").

F2 · security: These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

F3 · ownership.nature: Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer.

F4 · ownership.nature: The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

SEC source: 0001193125-26-077683 · ownership.xml · nonDerivative · entry 6

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000042352 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes

Disclosed balance after: 2,833,383

F1 · security: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the "Issuer") Class A Common Stock (the "Common Stock").

F2 · security: These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

F3 · ownership.nature: Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer.

F4 · ownership.nature: The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

SEC source: 0001193125-26-077683 · ownership.xml · nonDerivative · entry 5

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000042352 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes

Disclosed balance after: 2,833,399

F1 · security: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the "Issuer") Class A Common Stock (the "Common Stock").

F2 · security: These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

F3 · ownership.nature: Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer.

F4 · ownership.nature: The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.