SCHEDULE 13G/A 0001140361-25-026606 0001279891 XXXXXXXX LIVE 1 Class A ordinary shares, par value $0.0001 per share 09/30/2025 0001897463 Graf Global Corp. G4036C106 1790 Hughes Landing Boulevard Suite 400 The Woodlands TX 77380 Rule 13d-1(b) WOLVERINE ASSET MANAGEMENT LLC IL 0 1100516 0 1100516 1100516 N 4.78 IA Wolverine Trading Partners, Inc. IL 0 1100516 0 1100516 1100516 N 4.78 CO HC Wolverine Holdings, L.P. IL 0 1100516 0 1100516 1100516 N 4.78 HC Christopher L. Gust IL 0 1100516 0 1100516 1100516 N 4.78 IN HC Robert R. Bellick IL 0 1100516 0 1100516 1100516 N 4.78 IN HC Graf Global Corp. 1790 Hughes Landing Boulevard, Suite 400, The Woodlands, Texas, 77380 Wolverine Asset Management, LLC Wolverine Holdings, L.P. Wolverine Trading Partners, Inc. Christopher L. Gust Robert R. Bellick c/o Wolverine Asset Management, LLC 175 West Jackson Boulevard, Suite 340 Chicago, IL 60604 Wolverine Asset Management, LLC - Illinois Wolverine Holdings, L.P. - Illinois Wolverine Trading Partners, Inc. - Illinois Christopher L. Gust - U.S. Citizen Robert R. Bellick - U.S. Citizen N IA HC Wolverine Asset Management, LLC ("WAM") is an investment manager and has voting and dispositive power over 1,100,516 Class A Ordinary Shares of the Issuer. The sole member and manager of WAM is Wolverine Holdings, L.P. ("Wolverine Holdings"). Robert R. Bellick and Christopher L. Gust may be deemed to control Wolverine Trading Partners, Inc. ("WTP"), the general partner of Wolverine Holdings. 4.78%. WAM may be deemed the beneficial owner of 4.78% of the Issuer's Ordinary Shares, and each of Wolverine Holdings, WTP, Mr. Bellick, and Mr. Gust may be deemed the beneficial owner of 4.78% of the Issuer's outstanding Class A Ordinary Shares. Percentages were calculated by dividing the number of shares deemed beneficially owned by each reporting person by 23,000,000 (the number of Class A Ordinary Shares outstanding as of August 13, 2025 according to the Issuer's Form 10-Q filed August 13, 2025). 0 1,100,516 0 1,100,516 N Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. WOLVERINE ASSET MANAGEMENT LLC /s/ Kenneth L. Nadel 10/07/2025 Wolverine Trading Partners, Inc. /s/ Christopher L. Gust 10/07/2025 Wolverine Holdings, L.P. /s/ Christopher L. Gust 10/07/2025 Christopher L. Gust /s/ Christopher L. Gust 10/07/2025 Robert R. Bellick /s/ Robert R. Bellick 10/07/2025