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Note 1 — Description of Organization and Business Operations Evergreen Corporation (the “Company”) was incorporated in Cayman Islands on October 21, 2021. The Company was formed for the purpose of effecting a merger, capital share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses (the “Business Combination”). The Company is not limited to a particular industry or sector for purposes of consummating a Business Combination. The Company is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies. The Company is the parent company of Evergreen Merger Corporation (“PubCo”), a Cayman Island exempted company formed on December 19, 2023 (inception). Evergreen Merger Sub Inc. was incorporated in British Virgin Islands on September 2, 2024 and is a wholly-owned subsidiary of PubCo formed to consummate the Business Combination. As of November 30, 2024, the Company had not commenced any operations. All activity for the period from October 21, 2021 (inception) through November 30, 2024 relates to the Company’s formation and initial public offering (“Initial Public Offering”), which is described below. The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering. The Company has selected November 30 as its fiscal year end. The registration statement for the Company’s Initial Public Offering was declared effective on February 8, 2022. On February 11, 2022, the Company consummated the Initial Public Offering of <span id="xdx_907_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20220210__20220211__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_z78QnLS0YCLc" title="Sale of stock, number of shares issued in transaction">10,000,000 units (“Units” and, with respect to the ordinary shares included in the Units being offered, the “Public Shares”), generating gross proceeds of $<span id="xdx_90E_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_pp0p0_c20220210__20220211__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zNObkhfDF1xh" title="Gross proceeds from public offering">100,000,000 which is described in Note 3. The Initial Public Offering transaction costs amounted to $8,557,887 consisting of $1,800,000 of underwriting fees paid in cash, $4,025,000 of deferred underwriting fees payable (which are held in a trust account with Continental Stock Transfer & Trust Company acting as trustee (the “Trust Account”)), $1,725,000 funded to the trust account and $1,007,887 of costs related to the Initial Public Offering. Cash of $1,519,359 was held outside of the Trust Account on February 11, 2022 and was available for working capital purposes. As described in Note 6, the $4,025,000 deferred underwriting fees are contingent upon the consummation of the Business Combination. Simultaneously with the closing of the Initial Public Offering, the Company consummated the private sale (the “Private Placement”) of an aggregate of<span id="xdx_900_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20220210__20220211__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EvergreenLLCMember_zltE5345cQme" title="Sale of stock, number of shares issued in transaction"> 480,000 units (the “Private Placement Units”) to Evergreen LLC (the “Sponsor”) at a purchase price of $<span id="xdx_908_eus-gaap--SaleOfStockPricePerShare_iI_c20220211__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EvergreenLLCMember_zFT0j8X92dT" title="Sale of stock, price per share">10.00 per Private Placement Unit, generating gross proceeds to the Company in the amount of $<span id="xdx_90E_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_pp0p0_c20220210__20220211__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EvergreenLLCMember_zcTTziRdiVi" title="Proceeds from issuance of private placement">4,800,000. On February 11, 2022, the underwriters purchased an additional <span id="xdx_909_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20220210__20220211__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember__srt--TitleOfIndividualAxis__custom--UnderwritersMember_zquiyzXYMeJ9" title="Sale of stock, number of shares issued in transaction">1,500,000 Option Units pursuant to the exercise of the over-allotment option. The Option Units were sold at an offering price of $<span id="xdx_903_eus-gaap--SaleOfStockPricePerShare_iI_c20220211__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember__srt--TitleOfIndividualAxis__custom--UnderwritersMember_zgrZzD4pmih4" title="Sale of stock, price per share">10.00 per Unit, generating additional gross proceeds to the Company of $<span id="xdx_905_eus-gaap--ProceedsFromStockOptionsExercised_c20220210__20220211__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember__srt--TitleOfIndividualAxis__custom--UnderwritersMember_zwBlebTso9cd" title="Proceeds from over-allotment option">15,000,000. Also, in connection with the full exercise of the over-allotment option, the Sponsor purchased an additional <span id="xdx_900_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20220210__20220211__us-gaap--SubsidiarySaleOfStockAxis__custom--OptionPrivatePlacementUnitsMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EvergreenLLCMember_zwm6HjhvwSpi" title="Sale of stock, number of shares issued in transaction">52,500 Option Private Placement Units at a purchase price of $<span id="xdx_903_eus-gaap--SaleOfStockPricePerShare_iI_c20220211__us-gaap--SubsidiarySaleOfStockAxis__custom--OptionPrivatePlacementUnitsMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EvergreenLLCMember_zVzWVofCe0Y3" title="Sale of stock, price per share">10.00 per unit. Following the closing of the Initial Public Offering on February 11, 2022, an amount of $<span id="xdx_90F_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pp0p0_c20220210__20220211__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_z3EEC7xqVJf5" title="Net proceeds from public offering">116,725,000 ($10.15 per Unit) from the net proceeds of the sale of the Units in the Initial Public Offering and the Private Placement was placed in a trust account (“Trust Account”) which may be invested in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”), with a maturity of 185 days or less or in any open-ended investment company that holds itself out as a money market fund selected by the Company meeting the conditions of Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earlier of: (i) the consummation of a Business Combination or (ii) the distribution of the Trust Account, as described below. The Company’s management has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering and the sale of Private Placement Warrants, although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. There is no assurance that the Company will be able to complete a Business Combination successfully. The Company must complete one or more initial Business Combinations with one or more operating businesses or assets with a fair market value equal to at least 80% of the value of the net assets held in the Trust Account (as defined below) (excluding the deferred underwriting commissions and taxes payable on the interest earned on the Trust Account). The Company will only complete a Business Combination if the post transaction company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target business sufficient for it not to be required to register as an investment company under the Investment Company Act. Upon the closing of the Initial Public Offering, management has agreed that an amount equal to at least $10.15 per Unit sold in the Initial Public Offering, including proceeds of the Private Placement Warrants, will be held in the Trust Account and invested only in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act, with a maturity of 185 days or less or in any open-ended investment company that holds itself out as a money market fund selected by the Company meeting certain conditions of Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earlier of: (i) the completion of a Business Combination and (ii) the distribution of the funds held in the Trust Account, as described below. EVERGREEN CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 1 — Description of Organization and Business Operations (Continued) The Company will provide the holders of the outstanding Public Shares (the “Public Shareholders”) with the opportunity to redeem all or a portion of their Public Shares either (i) in connection with a shareholders meeting called to approve the Business Combination or (ii) by means of a tender offer in connection with the Business Combination. The decision as to whether the Company will seek shareholder approval of a Business Combination or conduct a tender offer will be made by the Company. The Public Shareholders will be entitled to redeem their Public Shares for a pro rata portion of the amount then in the Trust Account (initially anticipated to be $10.15 per Public Share, plus any pro rata interest then in the Trust Account, net of taxes payable). There will be no redemption rights upon the completion of a Business Combination with respect to the Company’s warrants. The Public Shares subject to redemption will be recorded at a redemption value and classified as temporary equity upon the completion of the Initial Public Offering in accordance with the Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity”. If the Company seeks shareholder approval of the Business Combination, the Company will proceed with a Business Combination if a majority of the outstanding shares voted are voted in favor of the Business Combination, or such other vote as required by law or stock exchange rule. If a shareholder vote is not required by applicable law or stock exchange listing requirements and the Company does not decide to hold a shareholder vote for business or other reasons, the Company will, pursuant to its second amended and restated certificate of incorporation (the “Certificate of Incorporation”), conduct the redemptions pursuant to the tender offer rules of the U.S. Securities and Exchange Commission (“SEC”) and file tender offer documents with the SEC prior to completing a Business Combination. If, however, shareholder approval of the transaction is required by applicable law or stock exchange listing requirements, or the Company decides to obtain shareholder approval for business or other reasons, the Company will offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. If the Company seeks shareholder approval in connection with a Business Combination, the Sponsor has agreed to vote its Founder Shares (as defined in Note 5) and any Public Shares purchased during or after the Public Offering in favor of approving a Business Combination. Additionally, each Public Shareholder may elect to redeem their Public Shares without voting, and if they do vote, irrespective of whether they vote for or against the proposed transaction. Notwithstanding the foregoing, if the Company seeks shareholder approval of a Business Combination and it does not conduct redemptions pursuant to the tender offer rules, the Certificate of Incorporation will provide that a Public Shareholder, together with any affiliate of such shareholder or any other person with whom such shareholder is acting in concert or as a “group” (as defined under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), will be restricted from redeeming its shares with respect to more than an aggregate of 20% of the Public Shares, without the prior consent of the Company. The holders of the Founder Shares have agreed (a) to waive their redemption rights with respect to the Founder Shares and Public Shares held by them in connection with the completion of a Business Combination and (b) not to propose an amendment to the Certificate of Incorporation (i) to modify the substance or timing of the Company’s obligation to allow redemptions in connection with a Business Combination or to redeem 100% of its Public Shares if the Company does not complete a Business Combination within the Combination Period (as defined below) or (ii) with respect to any other provision relating to shareholders’ rights or pre-business combination activity, unless the Company provides the Public Shareholders with the opportunity to redeem their Public Shares in conjunction with any such amendment. EVERGREEN CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 1 — Description of Organization and Business Operations (Continued) If the Company has not completed a Business Combination within 12 months (or 15 months, or 18 months or a longer period, as applicable from the closing of the Initial Public Offering (the “Combination Period”), the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released to pay taxes, divided by the number of then outstanding Public Shares, which redemption will completely extinguish Public Shareholders’ rights as shareholders (including the right to receive further liquidating distributions, if any), and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining shareholders and the Company’s board of directors, dissolve and liquidate, subject in each case to the Company’s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. There will be no redemption rights or liquidating distributions with respect to the Company’s warrants, which will expire worthless if the Company fails to complete a Business Combination within the Combination Period. The holders of the Founders Shares have agreed to waive their liquidation rights with respect to the Founder Shares if the Company fails to complete a Business Combination within the Combination Period. However, if the holders of Founder Shares acquire Public Shares in or after the Initial Public Offering, such Public Shares will be entitled to liquidating distributions from the Trust Account if the Company fails to complete a Business Combination within the Combination Period. The underwriters have agreed to waive their rights to their deferred underwriting commission (see Note 6) held in the Trust Account in the event the Company does not complete a Business Combination within the Combination Period and, in such event, such amounts will be included with the other funds held in the Trust Account that will be available to fund the redemption of the Public Shares. In the event of such distribution, it is possible that the per share value of the assets remaining available for distribution will be less than the Initial Public Offering price per Unit ($10.00). In order to protect the amounts held in the Trust Account, the Sponsor has agreed to be liable to the Company if and to the extent any claims by a third party for services rendered or products sold to the Company, or a prospective target business with which the Company has discussed entering into a transaction agreement, reduce the amount of funds in the Trust Account to below (i) $10.15 per Public Share or (ii) such lesser amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than $10.15 per Public Share due to reductions in the value of the trust assets, in each case net of the amount of interest which may be withdrawn to pay taxes, except as to any claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account and except as to any claims under the Company’s indemnity of the underwriters of the Initial Public Offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such third-party claims. The Company will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers (except for the Company’s independent registered accounting firm), prospective target businesses and other entities with which the Company does business, execute agreements with the Company waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account. Subsequent to the approval by the shareholders of Evergreen Corporation (“EVGR” or the Company) of the Amendment to EVGR’s Amended and Restated Memorandum and Articles of Association (the “Charter Amendment”), on July 18, 2023, EVGR filed the Charter Amendment with the Registrar of Companies in the Cayman Islands. Pursuant to the Charter Amendment, EVGR has the right to extend the period which it has to complete a business combination by up to twelve (12) times for an additional one (1) month each time from August 11, 2023 to August 11, 2024 by depositing into its trust account, for each one-month extension, the lesser of (a) $<span id="xdx_90F_eus-gaap--SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares_iI_pid_c20230718__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z1y13hFwGU6b" title="Redemption share value">160,000 and (b) $<span id="xdx_90C_eus-gaap--FinancialInstrumentSubjectToMandatoryRedemptionParValuePerShare_iI_pid_c20230718__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zDY1dNIwZFEk" title="Redemption price per share">0.055 for each Class A ordinary share outstanding after giving effect to the redemption of public shares in connection with the Charter Amendment in accordance with the terms of EVGR’s amended and restated memorandum and articles of association. In connection with the Charter Amendment, EVGR’ shareholders elected to redeem an aggregate of <span id="xdx_909_eus-gaap--SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares_iI_pid_c20230718__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z2z8P3Ji96h3" title="Redemption share">4,004,330 ordinary shares. Subsequent to the approval by the shareholders of EVGR of the Amendment to EVGR’s Amended and Restated Memorandum and Articles of Association (the “Charter Amendment”), on May 9, 2024, EVGR filed the Charter Amendment with the Registrar of Companies in the Cayman Islands. Pursuant to the Charter Amendment, EVGR has the right to extend the period which it has to complete a business combination by up to nine (9) times for an additional one (1) month each time from May 11, 2024 to February 11, 2025 by depositing into its trust account, for each one-month extension, the lesser of (a) $<span id="xdx_90A_eus-gaap--SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares_iI_pid_c20240509__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zQbqgdvDYb82" title="Redemption share value">80,000 and (b) $<span id="xdx_904_eus-gaap--FinancialInstrumentSubjectToMandatoryRedemptionParValuePerShare_iI_pid_c20240509__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z9GNv6CoNitk" title="Redemption price per share">0.03 for each Class A ordinary share outstanding after giving effect to the redemption of public shares in connection with the Charter Amendment in accordance with the terms of EVGR’s amended and restated memorandum and articles of association. EVGR’s shareholders elected to redeem an aggregate of <span id="xdx_90E_eus-gaap--SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares_iI_pid_c20240509__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zYJxRKSzxP9" title="Redemption share">2,831,713 ordinary shares or $<span id="xdx_90A_eus-gaap--SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares_iI_pid_c20240509__us-gaap--AwardTypeAxis__custom--EVGRShareholdersMember_zJumBMuEwOE" title="Redemption share value">32,364,393 in connection with the Charter Amendment. On September 5, 2024, Evergreen Corporation (“EVGR” or the “Company”) entered into the Merger Agreement by and among EVGR, Evergreen Merger Corporation, a Cayman Islands exempted company and wholly owned subsidiary of EVGR (“PubCo”), Evergreen Merger Sub Inc. (“Merger Sub”), a company limited by shares registered in the British Virgin Islands and a wholly-owned subsidiary of PubCo, Forekast Limited., a company limited by shares registered in the British Virgin Islands (“Forekast”), and Forekast International Sdn. Bhd., a company organized under the laws of Malaysia and a wholly owned subsidiary of Forekast (“FISB”). Pursuant to the Merger Agreement, the Business Combination will be effected in two steps: (i) EVGR will reincorporate in the Cayman Islands by merging with and into PubCo, with PubCo remaining as the surviving publicly traded entity (the “Reincorporation Merger”); (ii) after the Reincorporation Merger, Merger Sub will be merged with and into Forekast, resulting in Forekast being a wholly owned subsidiary of PubCo (the “Acquisition Merger” and together with the Reincorporation Merger, the “Business Combination”). In connection with the consummation of the Business Combination, PubCo will be renamed “Forekast Group.” The aggregate consideration for the Acquisition Merger is $105,000,000, payable in the form of 10,500,000 newly issued PubCo Ordinary Shares (the “Closing Payment Shares”) valued at $10.00 per share to Forekast and its shareholders. At the closing of the Acquisition Merger (the “Closing”), the issued and outstanding shares in Forekast held by the former Forekast shareholders will be cancelled and cease to exist, in exchange for the issuance of the Closing Payment Shares. Subsequent to the approval by the shareholders of the Company of the Amendment to EVGR’s Amended and Restated Memorandum and Articles of Association (the “Charter Amendment”), on January 28, 2025, EVGR filed the Charter Amendment with the Registrar of Companies in the Cayman Islands. Pursuant to the Charter Amendment, EVGR has the right to extend the date by which it has to consummate a business combination up to six (6) times for an additional one (1) month each time from February 11, 2025 to August 11, 2025 (as extended, the “Extended Date”) by depositing into the trust account, for each one-month extension, $<span id="xdx_90F_eus-gaap--FinancialInstrumentSubjectToMandatoryRedemptionParValuePerShare_iI_pid_c20250128__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zG8Kklq7ZLa3" title="Redemption price per share">0.05 for each Class A ordinary share issued and outstanding after giving effect to the redemption. In connection with the Charter Amendment, the EVGR’s shareholders elected to redeem an aggregate of <span id="xdx_903_eus-gaap--SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares_iI_pid_c20250128__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zZlFAuN9r4n2" title="Redemption share">2,456,657 ordinary shares. EVERGREEN CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 1 — Description of Organization and Business Operations (Continued) Going Concern and Management’s Plan The Company expects to incur significant costs in pursuit of its acquisition plans and will not generate any operating revenues until after the completion of its initial business combination. In addition, the Company expects to have negative cash flows from operations as it pursues an initial business combination target. In connection with the Company’s assessment of going concern considerations in accordance with Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern” the Company does not currently have adequate liquidity to sustain operations, which consist solely of pursuing a Business Combination. The Company may raise additional capital through loans or additional investments from the Sponsor or its shareholders, officers, directors, or third parties. The Company’s officers and directors and the Sponsor may, but are not obligated to (except as described above), loan the Company funds, from time to time, in whatever amount they deem reasonable in their sole discretion, to meet the Company’s working capital needs. As is customary for a special purpose acquisition company, if the Company is not able to consummate a Business Combination during the Combination Period, it will cease all operations and redeem the Public Shares. Management plans to continue its efforts to consummate a Business Combination during the Combination Period. While the Company expects to have access to additional sources of capital if necessary, there is no current commitment on the part of any financing source to provide additional capital and no assurances can be provided that such additional capital will ultimately be available. The liquidity condition and mandatory liquidation raise substantial doubt about the Company’s ability to continue as a going concern until the earlier of the consummation of the Business Combination or the date the Company is required to liquidate. There is no assurance that the Company’s plans to raise additional capital (to the extent ultimately necessary) or to consummate a Business Combination will be successful or successful within the Combination Period. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

10000000

100000000

8557887

1800000

4025000

1725000

1007887

1519359

4025000

480000

10.00

4800000

1500000

10.00

15000000

52500

10.00

116725000

10.15

0.80 0.50

10.15

0.20 1

10.00

In order to protect the amounts held in the Trust Account, the Sponsor has agreed to be liable to the Company if and to the extent any claims by a third party for services rendered or products sold to the Company, or a prospective target business with which the Company has discussed entering into a transaction agreement, reduce the amount of funds in the Trust Account to below (i) $10.15 per Public Share or (ii) such lesser amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than $10.15 per Public Share due to reductions in the value of the trust assets, in each case net of the amount of interest which may be withdrawn to pay taxes, except as to any claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account and except as to any claims under the Company’s indemnity of the underwriters of the Initial Public Offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”).

160000

0.055

4004330

80000

0.03

2831713

32364393

105000000

10500000

10.00

0.05

2456657

Note 2 — Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the SEC. Certain information and note disclosures normally included in the annual consolidated financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. The consolidated financial statements as of November 30, 2024 and for the years ended November 30, 2024 and November 30, 2023 respectively, are audited. In the opinion of management, the consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary to provide a fair statement of the results for the periods. The accompanying balance sheet as of November 30, 2023, is derived from the audited financial statements presented in the Company’s Annual Report on Form 10-K for fiscal the year ended November 30, 2023. Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s consolidated financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. EVERGREEN CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 2 — Summary of Significant Accounting Policies (Continued) Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents are carried at cost, which approximates fair value. The Company had $4,553 and $146,933 in cash as of November 30, 2024 and November 30, 2023, respectively. The Company had no cash equivalents as of November 30, 2024 or November 30, 2023. Cash Held in Trust Account As of November 30, 2024 and November 30, 2023, substantially all of the assets held in the Trust Account were held in money market. As of November 30, 2024 and November 30, 2023, there were $55,412,140 and $82,949,890 cash held in the Trust Account. Income Taxes The Company complies with the accounting and reporting requirements of ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the consolidated financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the consolidated financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company’s management determined the Cayman Islands is the Company’s only major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits, if any, as income tax expense. There were no unrecognized tax benefits as of November 30, 2024 and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is considered to be an exempted Cayman Islands company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United States. EVERGREEN CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 2 — Summary of Significant Accounting Policies (Continued) Class A Ordinary Shares Subject to Possible Redemption All of the Class A ordinary shares sold as part of the Units in the Initial Public Offering contain a redemption feature which allows for the redemption of such Public Shares in connection with the Company’s liquidation, if there is a shareholder vote or tender offer in connection with the Business Combination and in connection with certain amendments to the Company’s amended and restated certificate of incorporation. In accordance with ASC 480, conditionally redeemable Class A ordinary shares (including Class A ordinary shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. Ordinary liquidation events, which involve the income and liquidation of all of the entity’s equity instruments, are excluded from the provisions of ASC 480. Although the Company did not specify a maximum redemption threshold, its charter provides that currently, the Company will not redeem Public Shares in an amount that would cause its net tangible assets to be less than $5,000,001. However, the threshold in its charter would not change the nature of the underlying shares as redeemable and thus public shares would be required to be disclosed outside of permanent equity. The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable ordinary shares to equal the redemption value ($10.15 per share) at the end of each reporting period. Such changes are reflected in additional paid-in capital, or in the absence of additional capital, in accumulated deficit. As of November 30, 2024 and November 30, 2023, <span id="xdx_90D_eus-gaap--SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares_iI_c20241130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zkjJXPSikLKj" title="Ordinary shares possible redemption">4,663,957 and <span id="xdx_90A_eus-gaap--SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares_iI_c20231130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zhIGZjZr85mh" title="Ordinary shares possible redemption">7,495,670 Class A Ordinary Shares outstanding are subject to possible redemption respectively. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal depository insurance coverage of $250,000. As of November 30, 2024, the Company had not experienced losses on this account and management believes the Company is not exposed to significant risks on such account. Net Income Per Share Net income per share is computed by dividing net income by the weighted average number of ordinary shares outstanding for the period. The calculation of diluted income (loss) per share does not consider the effect of the warrants issued in connection with the Initial Public Offering and warrants issued as components of the Private Placement Units (the “Placement Warrants”) since the exercise of the warrants are contingent upon the occurrence of future events and the inclusion of such warrants would be anti-dilutive. The Company’s statements of operations include a presentation of income per share for ordinary shares subject to possible redemption in a manner similar to the two-class method of income per share. Net income per ordinary share, basic and diluted, for redeemable Class A ordinary shares is calculated by dividing the net income allocable to Class A ordinary shares subject to possible redemption, by the weighted average number of redeemable Class A ordinary shares outstanding since original issuance. Net income per shares, basic and diluted, for non-redeemable Class A and Class B ordinary shares is calculated by dividing net income allocable to non-redeemable ordinary shares, by the weighted average number of non-redeemable ordinary shares outstanding for the periods. Non-redeemable Class B ordinary shares include the founder shares as these ordinary shares do not have any redemption features and do not participate in the income earned on the Trust Account. EVERGREEN CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 2 — Summary of Significant Accounting Policies (Continued) Schedule of Net Loss Per Share <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20231201__20241130_zN0KlPMPATXg" style="border-bottom: Black 1pt solid; text-align: center">Year Ended November 30, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20221201__20231130_zoespUO2BAz" style="border-bottom: Black 1pt solid; text-align: center">Year Ended November 30, 2023</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Class A ordinary shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ProfitLoss_hus-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zhMLzNPuu8N1" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Numerator: net income allocable to redeemable Class A ordinary shares</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,222,140</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,885,807</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Denominator: weighted average number of Class A ordinary shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20231201__20241130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zKygUW5c6G1c" title="Denominator: weighted average number of ordinary shares, basic"><span id="xdx_90D_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20231201__20241130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zPmAOHCHKBQg" title="Denominator: weighted average number of ordinary shares, diluted">6,425,607</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20221201__20231130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z4sp24ICDGK7" title="Denominator: weighted average number of ordinary shares, basic"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20221201__20231130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zEySUMToE2z8" title="Denominator: weighted average number of ordinary shares, diluted">10,532,255</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Basic and diluted net income per redeemable Class A ordinary share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.19</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.27</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Class B ordinary shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--ProfitLoss_hus-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zfFLEx2IMjAa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Numerator: net income allocable to Class B ordinary shares</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">546,821</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">787,741</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Denominator: weighted average number of Class B ordinary shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20231201__20241130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z0FAWspEyCBe" title="Denominator: weighted average number of ordinary shares, basic"><span id="xdx_901_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20231201__20241130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zOjPdXxURNoe" title="Denominator: weighted average number of ordinary shares, diluted">2,875,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20221201__20231130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zO0BpgrV0W85" title="Denominator: weighted average number of ordinary shares, basic"><span id="xdx_90F_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20221201__20231130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zHUoDWFuAtr4" title="Denominator: weighted average number of ordinary shares, diluted">2,875,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Basic and diluted net income per Class B ordinary share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.19</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.27</td><td style="text-align: left"> </td></tr> </table> Offering Costs Associated with the Initial Public Offering The Company complies with the requirements of the Financial Accounting Standards Board ASC 340-10-S99-1 and SEC Staff Accounting Bulletin (“SAB”) Topic 5A, “Expenses of Offering.” Offering costs of $4,532,887 consist principally of costs incurred in connection with the formation of the Company and preparation for the Initial Public Offering. These costs, together with the underwriter discount of $4,025,000, were charged to additional paid-in capital upon completion of the Initial Public Offering. Fair Value of Financial Instruments The Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include: ● Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets; ● Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and ● Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The following table presents information about the Company’s financial assets that are measured at fair value on a recurring basis as of November 30, 2024 and November 30, 2023: Schedule of Financial Assets Measured at Fair Value on a Recurring Basis <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20241130_zzmyIJltlnua" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">November 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20231130_zdou5eSKRZY2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">November 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AssetsHeldInTrustNoncurrent_iI_hus-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z6ORqi5HYvbk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 46%; text-align: left">Cash and marketable securities held in trust account</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">55,412,140</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">82,949,890</td><td style="width: 1%; text-align: left"> </td></tr> </table> Recent Accounting Standards In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, “Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures” (“ASU 2023-07”), which expands required public entities’ segment disclosures, including disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items and interim disclosures of a reportable segment’s profit or loss and assets. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the impact of adoption of ASU 2023-07 and the adoption is not expected to have a material impact on its consolidated financial statements. EVERGREEN CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the SEC. Certain information and note disclosures normally included in the annual consolidated financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. The consolidated financial statements as of November 30, 2024 and for the years ended November 30, 2024 and November 30, 2023 respectively, are audited. In the opinion of management, the consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary to provide a fair statement of the results for the periods. The accompanying balance sheet as of November 30, 2023, is derived from the audited financial statements presented in the Company’s Annual Report on Form 10-K for fiscal the year ended November 30, 2023.

Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s consolidated financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. EVERGREEN CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 2 — Summary of Significant Accounting Policies (Continued)

Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.

Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents are carried at cost, which approximates fair value. The Company had $4,553 and $146,933 in cash as of November 30, 2024 and November 30, 2023, respectively. The Company had no cash equivalents as of November 30, 2024 or November 30, 2023.

4553

146933

Cash Held in Trust Account As of November 30, 2024 and November 30, 2023, substantially all of the assets held in the Trust Account were held in money market. As of November 30, 2024 and November 30, 2023, there were $55,412,140 and $82,949,890 cash held in the Trust Account.

55412140

82949890

Income Taxes The Company complies with the accounting and reporting requirements of ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the consolidated financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the consolidated financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company’s management determined the Cayman Islands is the Company’s only major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits, if any, as income tax expense. There were no unrecognized tax benefits as of November 30, 2024 and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is considered to be an exempted Cayman Islands company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United States. EVERGREEN CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 2 — Summary of Significant Accounting Policies (Continued)

Class A Ordinary Shares Subject to Possible Redemption All of the Class A ordinary shares sold as part of the Units in the Initial Public Offering contain a redemption feature which allows for the redemption of such Public Shares in connection with the Company’s liquidation, if there is a shareholder vote or tender offer in connection with the Business Combination and in connection with certain amendments to the Company’s amended and restated certificate of incorporation. In accordance with ASC 480, conditionally redeemable Class A ordinary shares (including Class A ordinary shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. Ordinary liquidation events, which involve the income and liquidation of all of the entity’s equity instruments, are excluded from the provisions of ASC 480. Although the Company did not specify a maximum redemption threshold, its charter provides that currently, the Company will not redeem Public Shares in an amount that would cause its net tangible assets to be less than $5,000,001. However, the threshold in its charter would not change the nature of the underlying shares as redeemable and thus public shares would be required to be disclosed outside of permanent equity. The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable ordinary shares to equal the redemption value ($10.15 per share) at the end of each reporting period. Such changes are reflected in additional paid-in capital, or in the absence of additional capital, in accumulated deficit. As of November 30, 2024 and November 30, 2023, <span id="xdx_90D_eus-gaap--SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares_iI_c20241130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zkjJXPSikLKj" title="Ordinary shares possible redemption">4,663,957 and <span id="xdx_90A_eus-gaap--SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares_iI_c20231130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zhIGZjZr85mh" title="Ordinary shares possible redemption">7,495,670 Class A Ordinary Shares outstanding are subject to possible redemption respectively.

Company did not specify a maximum redemption threshold, its charter provides that currently, the Company will not redeem Public Shares in an amount that would cause its net tangible assets to be less than $5,000,001. However, the threshold in its charter would not change the nature of the underlying shares as redeemable and thus public shares would be required to be disclosed outside of permanent equity.

10.15

4663957

7495670

Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal depository insurance coverage of $250,000. As of November 30, 2024, the Company had not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.

250000

Net Income Per Share Net income per share is computed by dividing net income by the weighted average number of ordinary shares outstanding for the period. The calculation of diluted income (loss) per share does not consider the effect of the warrants issued in connection with the Initial Public Offering and warrants issued as components of the Private Placement Units (the “Placement Warrants”) since the exercise of the warrants are contingent upon the occurrence of future events and the inclusion of such warrants would be anti-dilutive. The Company’s statements of operations include a presentation of income per share for ordinary shares subject to possible redemption in a manner similar to the two-class method of income per share. Net income per ordinary share, basic and diluted, for redeemable Class A ordinary shares is calculated by dividing the net income allocable to Class A ordinary shares subject to possible redemption, by the weighted average number of redeemable Class A ordinary shares outstanding since original issuance. Net income per shares, basic and diluted, for non-redeemable Class A and Class B ordinary shares is calculated by dividing net income allocable to non-redeemable ordinary shares, by the weighted average number of non-redeemable ordinary shares outstanding for the periods. Non-redeemable Class B ordinary shares include the founder shares as these ordinary shares do not have any redemption features and do not participate in the income earned on the Trust Account. EVERGREEN CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 2 — Summary of Significant Accounting Policies (Continued) Schedule of Net Loss Per Share <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20231201__20241130_zN0KlPMPATXg" style="border-bottom: Black 1pt solid; text-align: center">Year Ended November 30, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20221201__20231130_zoespUO2BAz" style="border-bottom: Black 1pt solid; text-align: center">Year Ended November 30, 2023</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Class A ordinary shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ProfitLoss_hus-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zhMLzNPuu8N1" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Numerator: net income allocable to redeemable Class A ordinary shares</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,222,140</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,885,807</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Denominator: weighted average number of Class A ordinary shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20231201__20241130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zKygUW5c6G1c" title="Denominator: weighted average number of ordinary shares, basic"><span id="xdx_90D_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20231201__20241130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zPmAOHCHKBQg" title="Denominator: weighted average number of ordinary shares, diluted">6,425,607</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20221201__20231130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z4sp24ICDGK7" title="Denominator: weighted average number of ordinary shares, basic"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20221201__20231130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zEySUMToE2z8" title="Denominator: weighted average number of ordinary shares, diluted">10,532,255</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Basic and diluted net income per redeemable Class A ordinary share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.19</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.27</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Class B ordinary shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--ProfitLoss_hus-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zfFLEx2IMjAa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Numerator: net income allocable to Class B ordinary shares</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">546,821</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">787,741</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Denominator: weighted average number of Class B ordinary shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20231201__20241130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z0FAWspEyCBe" title="Denominator: weighted average number of ordinary shares, basic"><span id="xdx_901_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20231201__20241130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zOjPdXxURNoe" title="Denominator: weighted average number of ordinary shares, diluted">2,875,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20221201__20231130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zO0BpgrV0W85" title="Denominator: weighted average number of ordinary shares, basic"><span id="xdx_90F_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20221201__20231130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zHUoDWFuAtr4" title="Denominator: weighted average number of ordinary shares, diluted">2,875,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Basic and diluted net income per Class B ordinary share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.19</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.27</td><td style="text-align: left"> </td></tr> </table>

Schedule of Net Loss Per Share <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20231201__20241130_zN0KlPMPATXg" style="border-bottom: Black 1pt solid; text-align: center">Year Ended November 30, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20221201__20231130_zoespUO2BAz" style="border-bottom: Black 1pt solid; text-align: center">Year Ended November 30, 2023</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Class A ordinary shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ProfitLoss_hus-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zhMLzNPuu8N1" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Numerator: net income allocable to redeemable Class A ordinary shares</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,222,140</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,885,807</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Denominator: weighted average number of Class A ordinary shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20231201__20241130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zKygUW5c6G1c" title="Denominator: weighted average number of ordinary shares, basic"><span id="xdx_90D_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20231201__20241130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zPmAOHCHKBQg" title="Denominator: weighted average number of ordinary shares, diluted">6,425,607</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20221201__20231130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z4sp24ICDGK7" title="Denominator: weighted average number of ordinary shares, basic"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20221201__20231130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zEySUMToE2z8" title="Denominator: weighted average number of ordinary shares, diluted">10,532,255</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Basic and diluted net income per redeemable Class A ordinary share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.19</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.27</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Class B ordinary shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--ProfitLoss_hus-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zfFLEx2IMjAa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Numerator: net income allocable to Class B ordinary shares</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">546,821</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">787,741</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Denominator: weighted average number of Class B ordinary shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20231201__20241130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z0FAWspEyCBe" title="Denominator: weighted average number of ordinary shares, basic"><span id="xdx_901_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20231201__20241130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zOjPdXxURNoe" title="Denominator: weighted average number of ordinary shares, diluted">2,875,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20221201__20231130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zO0BpgrV0W85" title="Denominator: weighted average number of ordinary shares, basic"><span id="xdx_90F_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20221201__20231130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zHUoDWFuAtr4" title="Denominator: weighted average number of ordinary shares, diluted">2,875,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Basic and diluted net income per Class B ordinary share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.19</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.27</td><td style="text-align: left"> </td></tr> </table>

1222140

2885807

6425607

10532255

0.19

0.27

546821

787741

2875000

0.19

0.27

Offering Costs Associated with the Initial Public Offering The Company complies with the requirements of the Financial Accounting Standards Board ASC 340-10-S99-1 and SEC Staff Accounting Bulletin (“SAB”) Topic 5A, “Expenses of Offering.” Offering costs of $4,532,887 consist principally of costs incurred in connection with the formation of the Company and preparation for the Initial Public Offering. These costs, together with the underwriter discount of $4,025,000, were charged to additional paid-in capital upon completion of the Initial Public Offering.

4532887

4025000

Fair Value of Financial Instruments The Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include: ● Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets; ● Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and ● Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The following table presents information about the Company’s financial assets that are measured at fair value on a recurring basis as of November 30, 2024 and November 30, 2023: Schedule of Financial Assets Measured at Fair Value on a Recurring Basis <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20241130_zzmyIJltlnua" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">November 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20231130_zdou5eSKRZY2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">November 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AssetsHeldInTrustNoncurrent_iI_hus-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z6ORqi5HYvbk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 46%; text-align: left">Cash and marketable securities held in trust account</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">55,412,140</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">82,949,890</td><td style="width: 1%; text-align: left"> </td></tr> </table>

The following table presents information about the Company’s financial assets that are measured at fair value on a recurring basis as of November 30, 2024 and November 30, 2023: Schedule of Financial Assets Measured at Fair Value on a Recurring Basis <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20241130_zzmyIJltlnua" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">November 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20231130_zdou5eSKRZY2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">November 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AssetsHeldInTrustNoncurrent_iI_hus-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z6ORqi5HYvbk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 46%; text-align: left">Cash and marketable securities held in trust account</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">55,412,140</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">82,949,890</td><td style="width: 1%; text-align: left"> </td></tr> </table>

55412140

82949890

Recent Accounting Standards In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, “Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures” (“ASU 2023-07”), which expands required public entities’ segment disclosures, including disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items and interim disclosures of a reportable segment’s profit or loss and assets. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the impact of adoption of ASU 2023-07 and the adoption is not expected to have a material impact on its consolidated financial statements.

Note 3 — Initial Public Offering Pursuant to the Initial Public Offering, the Company sold 11,500,000 Units at a purchase price of $10.00 per Unit generating gross proceeds to the Company in the amount of $115,000,000. Each Unit consists of one ordinary share and one redeemable warrant (“Public Warrant”). Each Public Warrant entitles the holder to purchase one ordinary share at an exercise price of $11.50 per whole share.

11500000

10.00

115000000

Each Unit consists of one ordinary share and one redeemable warrant (“Public Warrant”). Each Public Warrant entitles the holder to purchase one ordinary share at an exercise price of $11.50 per whole share. Note 4 — Private Placement Simultaneously with the closing of the Initial Public Offering, the Company consummated the private sale (the “Private Placement”) of an aggregate of <span id="xdx_90D_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20220210__20220211__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_ziD0tG0tRcN1" title="Sale of stock, number of shares issued in transaction">532,500 units (the “Private Placement Units”) to Evergreen LLC (the “Sponsor”) at a purchase price of $10.00 per Private Placement Unit, generating gross proceeds to the Company in the amount of $<span id="xdx_90F_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pp0p0_c20220210__20220211__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zdp7ukuBBmZh" title="Proceeds from issuance of private placement">5,325,000 on February 11, 2022. A portion of the proceeds from the Private Placement Units was added to the proceeds from the Initial Public Offering held in the Trust Account. If the Company does not complete a Business Combination within the Combination Period, the proceeds from the sale of the Private Placement Units held in the Trust Account will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law) and the Private Placement Units will be worthless. The Private Placement Warrants (including the Class A ordinary shares issuable upon exercise of the Private Placement Warrants) will not be transferable, assignable or salable until 30 days after the completion of an Initial Business Combination, subject to certain exceptions.

532500

10.00

5325000

Note 5 — Related Party Transactions Founder Shares On November 22, 2021, the Sponsor purchased <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20211122__20211122__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EvergreenLLCMember_zh4SvmTHT8wi" title="Number of new stock issued during the period">2,875,000 of the Company’s Class B ordinary shares (the “Founder Shares”) in exchange for $<span id="xdx_904_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pp0p0_c20211122__20211122__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EvergreenLLCMember_zVgHOVCJiV4i" title="Purchase price">25,000. The Founder Shares include an aggregate of up to <span id="xdx_900_eus-gaap--TemporaryEquitySharesIssued_iI_c20211122__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EvergreenLLCMember__srt--RangeAxis__srt--MaximumMember_zXQpPtsjcnXj" title="Common stock shares subject to forfeiture">375,000 shares subject to forfeiture to the extent that the underwriters’ over-allotment is not exercised in full or in part, so that the number of Founder Shares will equal, on an as-converted basis, approximately <span id="xdx_908_ecustom--PercentageOfSharesIssuedAndOutstanding_iI_pid_dp_uPure_c20211122__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EvergreenLLCMember_z0DjoSWctYqk" title="Issued and outstanding, percent">20% of the Company’s issued and outstanding ordinary shares after the Initial Public Offering. The Founder Shares are no longer subject to forfeiture due to full exercise of the over-allotment by the underwriter. <span id="xdx_901_eus-gaap--RelatedPartyTransactionDescriptionOfTransaction_c20211122__20211122__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EvergreenLLCMember_zvWWfaSrasPb" title="Related party transaction description">The holders of the Founder shares have agreed, subject to limited exceptions, not to transfer, assign or sell any of the Founder Shares until the earlier to occur of: (A) six months after the completion of a Business Combination or (B) subsequent to a Business Combination, (x) if the last reported sale price of the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share splits, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period, or (y) the date on which the Company completes a liquidation, merger, capital share exchange or other similar transaction that results in all of the Public Shareholders having the right to exchange their ordinary shares for cash, securities or other property. EVERGREEN CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 5 — Related Party Transactions (Continued) Related Party Loans In order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). Such Working Capital Loans would be evidenced by promissory notes. The notes may be repaid upon completion of a Business Combination, without interest, or, at the lender’s discretion, up to $<span id="xdx_90F_eus-gaap--DebtConversionConvertedInstrumentAmount1_pp0p0_c20231201__20241130__us-gaap--RelatedPartyTransactionAxis__custom--EvergreenLLCMember__srt--RangeAxis__srt--MaximumMember_zvd4jLkbpkr6" title="Convertible debt">1,500,000 of the notes may be converted upon completion of a Business Combination into units at a price of $10.00 per unit. Such units would be identical to the Private Placement Units. In the event that a Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. As of November 30, 2024 and November 30, 2023 there are $1,483,500 and $650,000 outstanding under Working Capital Loan respectively. During the year ended November 30, 2024, the Company has borrowed $833,500 under Working Capital Loan and during the year ended November 30, 2023 the Company has borrowed $650,000 under such loan. Advanced by Related Parties The Company’s sponsor has advanced $3,801 to the PubCo. The total amount due to related party as of November 30, 2024 and November 30, 2023 is $3,801 and $<span id="xdx_90A_eus-gaap--OtherLiabilitiesCurrent_iI_dxL_c20231130__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zrpXpZSKuh64" title="Amount due to related party::XDX::-">0, respectively. Extension Loan On February 7, 2023, the Company issued an unsecured promissory note to its Sponsor, in the amount of $1,150,000, which amount was deposited into the trust account to extend the available time to complete a business combination to May 11, 2023. None of the funds held in trust will be released from the trust account, other than interest income to pay any tax obligations, until the earlier of the completion of an initial business combination within the required time period or our entry into liquidation if the Company has not consummated a business combination by May 11, 2023 (or August 11, 2023, if further extended). On April 21, 2023 the Company issued an unsecured, non-interest bearing promissory note in the principal amount of $50,000 to Evergreen LLC, the Company’s sponsor for working capital purpose. On June 7, 2023, the Company issued an unsecured, non-interest bearing promissory note in the principal amount of $1,350,000 to Evergreen LLC, the Company’s sponsor for extension and working capital purposes in which $<span id="xdx_907_eus-gaap--ProceedsFromIssuanceOfUnsecuredDebt_c20230607__20230607__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EvergreenLLCMember_z5gyI5Y5rFIe" title="Deposited to the trust account">1,150,000 was deposited to the trust account to extend the time of business combination period to August 11, 2023. On July 18, 2023, the Company filed the Charter Amendment with Registrar of Companies in the Cayman Islands. Pursuant to the Charter Amendment, the Company has the right to extend the period which it has to complete a business combination by up to twelve (12) times for an additional one (1) month each time from August 11, 2023 to August 11, 2024 by depositing into its trust account, for each one-month extension, the lesser of (a) $<span id="xdx_907_eus-gaap--SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares_iI_c20230718__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zyUd4t09My8g" title="Redemption share value">160,000 and (b) $<span id="xdx_90A_eus-gaap--FinancialInstrumentSubjectToMandatoryRedemptionParValuePerShare_iI_c20230718__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zuRLMM4irMBj" title="Redemption price per share">0.055 for each Class A ordinary share outstanding after giving effect to the redemption of public shares in connection with the Charter Amendment in accordance with the terms of the Company’s amended and restated memorandum and articles of association. On September 21, 2023, the Company issued an unsecured, non-interest bearing promissory note in the principal amount of $570,000 to Evergreen LLC, the Company’s sponsor for extension and working capital purpose. $160,000 was deposited into the trust account in July and August for extension loans. On September 25, 2023, the Company issued an unsecured, non-interest bearing promissory note in the principal amount of up to $2,000,000 to Evergreen LLC, the Company’s sponsor for extension and working capital purpose. $160,000 was deposited into the trust account in October, November and December 2023, January, February, March and April 2024, for extension loans. On May 9, 2024, the Company filed the Charter Amendment with the Registrar of Companies in the Cayman Islands. Pursuant to the Charter Amendment, EVGR has the right to extend the period which it has to complete a business combination by up to nine (9) times for an additional one (1) month each time from May 11, 2024 to February 11, 2025 by depositing into its trust account, for each one-month extension, the lesser of (a) $<span id="xdx_906_eus-gaap--SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares_iI_c20240509__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zv6IFSxP0z7b" title="Redemption share value">80,000 and (b) $<span id="xdx_907_eus-gaap--FinancialInstrumentSubjectToMandatoryRedemptionParValuePerShare_iI_c20240509__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zOT1acssqHu4" title="Redemption price per share">0.03 for each Class A ordinary share outstanding after giving effect to the redemption of public shares in connection with the Charter Amendment in accordance with the terms of EVGR’s amended and restated memorandum and articles of association. On September 6, 2024, the Company issued an unsecured, non-interest bearing promissory note in the principal amount of up to $1,000,000 to Evergreen LLC, the Company’s sponsor for extension and working capital purpose. The Company deposited $80,000 into the Trust Account in May, June, July, August, September, October and November. The total due to the Company for the extension loans as of November 30, 2024 and November 30, 2023 is $4,300,000 and $2,940,000, respectively. Administrative Support Agreement The Company agreed to pay the Sponsor a total of $<span id="xdx_908_eus-gaap--SponsorFees_c20231201__20241130__us-gaap--TypeOfArrangementAxis__custom--AdministrativeServicesArrangementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EvergreenLLCMember_z8l0K9m6txp7" title="Sponsor fees">10,000 per month for office space, utilities and secretarial and administrative support from the date of the Company’s initial public offering until consummation of its initial business combination. Upon completion of the Initial Business Combination or the Company’s liquidation, the Company will cease paying these monthly fees. As of November 30, 2024 and November 30, 2023, $<span id="xdx_907_ecustom--SponsorFeesHaveNotBeenPaid_iI_pp0p0_c20241130__us-gaap--TypeOfArrangementAxis__custom--AdministrativeServicesArrangementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EvergreenLLCMember_z0fUtHRK7tQ4" title="Sponsor fees have not been paid">220,000 and $<span id="xdx_90A_ecustom--SponsorFeesHaveNotBeenPaid_iI_pp0p0_c20231130__us-gaap--TypeOfArrangementAxis__custom--AdministrativeServicesArrangementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EvergreenLLCMember_zvCI4grVsdsi" title="Sponsor fees have not been paid">100,000, respectively, have not been paid to the Sponsor under the Administrative Support Agreement and included in accounts payable. EVERGREEN CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

2875000

25000

375000

0.20

The holders of the Founder shares have agreed, subject to limited exceptions, not to transfer, assign or sell any of the Founder Shares until the earlier to occur of: (A) six months after the completion of a Business Combination or (B) subsequent to a Business Combination, (x) if the last reported sale price of the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share splits, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period, or (y) the date on which the Company completes a liquidation, merger, capital share exchange or other similar transaction that results in all of the Public Shareholders having the right to exchange their ordinary shares for cash, securities or other property.

1500000

10.00

1483500 650000 833500 650000

3801

1150000

50000

1350000

1150000

160000

0.055

570000

160000

2000000

160000

80000

0.03

1000000

80000

4300000

2940000

10000

220000 100000

Note 6 — Commitments and Contingencies Registration Rights The holders of the Founder Shares, Private Placement Units and warrants that may be issued upon conversion of Working Capital Loans (and any ordinary shares issuable upon the exercise of the Private Placement Warrants or warrants issued upon conversion of the Working Capital Loans and upon conversion of the Founder Shares) will be entitled to registration rights pursuant to a registration rights agreement to be signed prior to or on the effective date of Initial Public Offering requiring the Company to register such securities for resale (in the case of the Founder Shares, only after conversion to Class A ordinary shares). The holders of these securities will be entitled to make up to three demands, excluding short form registration demands, that the Company register such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to completion of a Business Combination and rights to require the Company to register for resale such securities pursuant to Rule 415 under the Securities Act. However, the registration rights agreement provides that the Company will not be required to effect or permit any registration or cause any registration statement to become effective until the securities covered thereby are released from their lock-up restrictions. The Company will bear the expenses incurred in connection with the filing of any such registration statements. Underwriters’ Agreement The Company granted the underwriters a 45-day option from the date of Initial Public Offering to purchase up to <span id="xdx_908_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20231201__20241130__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember__srt--TitleOfIndividualAxis__custom--UnderwritersMember__srt--RangeAxis__srt--MaximumMember_zOoofe9RKifg" title="Sale of stock, number of shares issued in transaction">1,500,000 additional Units to cover over-allotments, if any, at the Initial Public Offering price less the underwriting discounts and commissions. The underwriters were entitled to a cash underwriting discount of $<span id="xdx_90F_ecustom--UnderwritingDiscountPerUnit_c20231201__20241130__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember__srt--TitleOfIndividualAxis__custom--UnderwritersMember_znlDCu7AkC87" title="Underwriting discount per unit">0.20 per Unit, or $<span id="xdx_909_eus-gaap--PaymentsForUnderwritingExpense_pp0p0_c20231201__20241130__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember__srt--TitleOfIndividualAxis__custom--UnderwritersMember_zWBBgPqM2Wm9" title="Underwriting discount">2,000,000 in the aggregate (or $<span id="xdx_902_ecustom--AggregateAmountOfUnderwritingDiscount_pp0p0_c20231201__20241130__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember__srt--TitleOfIndividualAxis__custom--UnderwritersMember_z0RYAYbbHkA7" title="Aggregate amount of underwriting discount">2,300,000 in the aggregate if the underwriters’ over-allotment option was exercised in full), payable upon the closing of the Initial Public Offering. The underwriters agreed to reimburse us for expenses incurred by us in connection with the offering in an amount equal to $<span id="xdx_909_ecustom--ReimburseOfOfferingExpense_pp0p0_c20231201__20241130__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember__srt--TitleOfIndividualAxis__custom--UnderwritersMember_zuLdq2T4KZCe" title="Reimburse of offering expense">500,000, payable to us at the closing of the offering. In addition, the underwriters were entitled to a deferred fee of $<span id="xdx_90D_ecustom--UnderwritingDeferredFeePerUnit_c20231201__20241130__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember__srt--TitleOfIndividualAxis__custom--UnderwritersMember_zgy0qzJLWA6c" title="Underwriter deferred fee in unit">0.35 per Unit, or $<span id="xdx_90E_ecustom--DeferredUnderwriterCommission_iI_pp0p0_c20241130__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember__srt--TitleOfIndividualAxis__custom--UnderwritersMember_zmvs7LezDzKb" title="Underwriter deferred fee">3,500,000 in the aggregate (or $<span id="xdx_90D_ecustom--AggregateAmountOfDeferredFees_pp0p0_c20231201__20241130__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember__srt--TitleOfIndividualAxis__custom--UnderwritersMember_zIDIWroiO6V2" title="Aggregate amount of deferred fees">4,025,000 in the aggregate if the underwriters’ over-allotment option was exercised in full). The deferred fee will become payable to the underwriters from the amounts held in the Trust Account solely in the event that the Company completes a Business Combination, subject to the terms of the underwriting agreement. On February 11, 2022, the underwriters purchased an additional <span id="xdx_907_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20220210__20220211__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember__srt--TitleOfIndividualAxis__custom--UnderwritersMember_zDCjjvkpOixl" title="Sale of stock, number of shares issued in transaction">1,500,000 Option Units pursuant to the full exercise of the over-allotment option. The Option Units were sold at an offering price of $<span id="xdx_90C_eus-gaap--SaleOfStockPricePerShare_iI_c20220211__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember__srt--TitleOfIndividualAxis__custom--UnderwritersMember_zIjfSEg9kujg" title="Sale of stock, price per share">10.00 per Unit, generating additional gross proceeds to the Company of $<span id="xdx_903_eus-gaap--ProceedsFromStockOptionsExercised_pp0p0_c20220210__20220211__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember__srt--TitleOfIndividualAxis__custom--UnderwritersMember_zIF9kuccTnda" title="Proceeds from over-allotment option">15,000,000. EVERGREEN CORPORATION NOTES THE CONSOLIDATED FINANCIAL STATEMENTS

1500000

0.20

2000000

2300000 500000 0.35 3500000 4025000

1500000

10.00

15000000

Note 7 – Shareholders’ Equity Preference Shares — The Company is authorized to issue 1,000,000 preference shares with a par value of $0.0001 per share with such designation, rights and preferences as may be determined from time to time by the Company’s Board of Directors. As of November 30, 2024 and November 30, 2023, there were no preference shares issued or outstanding. Class A Ordinary Shares — Our memorandum and articles of association authorize the Company to issue 479,000,000 Class A ordinary shares with a par value of $0.0001 per share. Holders of the Company’s Class A ordinary shares are entitled to one vote for each share. As of November 30, 2024 and November 30, 2023, there were 532,500 Class A ordinary shares issued and outstanding (excluding <span id="xdx_906_eus-gaap--SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares_iI_pid_c20241130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zbfLpgINImjf" title="Ordinary shares possible redemption">4,663,957 and <span id="xdx_900_eus-gaap--SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares_iI_pid_c20231130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zfUESzkssPD" title="Ordinary shares possible redemption">7,495,670 shares subject to possible redemption, respectively). Class B Ordinary Shares — The Company is authorized to issue 20,000,000 Class B ordinary shares with a par value of $0.0001 per share. Holders of the Company’s Class B ordinary shares are entitled to one vote for each share. As of November 30, 2024 and November 30, 2023 there were 2,875,000 Class B ordinary shares issued and outstanding, such that the Initial Shareholders would maintain ownership of at least <span id="xdx_902_ecustom--PercentageOfSharesIssuedAndOutstanding_iI_pid_dp_uPure_c20241130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zUQ2EAAop4V6" title="Percentage of shares issued and outstanding"><span id="xdx_903_ecustom--PercentageOfSharesIssuedAndOutstanding_iI_pid_dp_uPure_c20231130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zu37Q8mI8Wwj" title="Percentage of shares issued and outstanding">20% of the issued and outstanding shares after the Proposed Public Offering. Only holders of the Class B ordinary shares will have the right to vote on the election of directors prior to the Business Combination. Holders of Class A ordinary shares and holders of Class B ordinary shares will vote together as a single class on all matters submitted to a vote of our shareholders except as otherwise required by law. In connection with our initial business combination, we may enter into a shareholders agreement or other arrangements with the shareholders of the target or other investors to provide for voting or other corporate governance arrangements that differ from those in effect upon completion of our initial public offering. The Class B ordinary shares will automatically convert into Class A ordinary shares at the time of a Business Combination, or earlier at the option of the holder, on a one-for-one basis, subject to adjustment. In the case that additional Class A ordinary shares, or equity-linked securities, are issued or deemed issued in excess of the amounts issued in the Initial Public Offering and related to the closing of a Business Combination, the ratio at which Class B ordinary shares shall convert into Class A ordinary shares will be adjusted (unless the holders of a majority of the then-outstanding Class B ordinary shares agree to waive such adjustment with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares issuable upon conversion of all Class B ordinary shares will equal, in the aggregate, on an as-converted basis, <span id="xdx_90C_ecustom--PercentageOfNumberOfOrdinarySharesOutstanding_iI_pid_dp_uPure_c20241130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zGHH0xyWbSP8" title="Percentage of number of ordinary shares outstanding">20% of the sum of the total number of all ordinary shares outstanding upon the completion of Initial Public Offering plus all Class A ordinary shares and equity-linked securities issued or deemed issued in connection with a Business Combination (net of the number of Class A ordinary shares redeemed in connection with a Business Combination), excluding any shares or equity-linked securities issued or issuable to any seller of an interest in the target to us in a Business Combination. Warrants — Public Warrants may only be exercised for a whole number of shares. No fractional warrants will be issued upon separation of the Units and only whole warrants will trade. The Public Warrants will become exercisable on the later of (a) 30 days after the completion of a Business Combination and (b) 12 months from the closing of the Initial Public Offering. The Public Warrants will expire five years after the completion of a Business Combination or earlier upon redemption or liquidation. The Company will not be obligated to deliver any Class A ordinary shares pursuant to the exercise of a warrant and will have no obligation to settle such warrant exercise unless a registration statement under the Securities Act covering the issuance of the Class A ordinary shares issuable upon exercise of the warrants is then effective and a current prospectus relating to those Class A ordinary shares is available, subject to the Company satisfying its obligations with respect to registration, or a valid exemption from registration is available. No warrant will be exercisable for cash or on a cashless basis, and the Company will not be obligated to issue any shares to holders seeking to exercise their warrants, unless the issuance of the shares upon such exercise is registered or qualified under the securities laws of the state of residence of the exercising holder, or an exemption from registration is available. The Company has agreed that as soon as practicable, but in no event later than 15 business days after the closing of a Business Combination, the Company will use its commercially reasonable efforts to file, and within 60 business days following a Business Combination to have declared effective, a registration statement covering the issuance of the Class A ordinary shares issuable upon exercise of the warrants and to maintain a current prospectus relating to those Class A ordinary shares until the warrants expire or are redeemed. Notwithstanding the above, if the Class A ordinary shares is at the time of any exercise of a warrant not listed on a national securities exchange such that it satisfies the definition of a “covered security” under Section 18(b)(1) of the Securities Act, the Company may, at its option, require holders of Public Warrants who exercise their warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event the Company so elects, the Company will not be required to file or maintain in effect a registration statement, but will use its commercially reasonable efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available. EVERGREEN CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 7 – Shareholders’ Equity Continued) Redemption of Warrants When the Price per Share of Class A Ordinary shares Equals or Exceeds $18.00 — Once the warrants become exercisable, the Company may redeem the outstanding Public Warrants: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">in whole and not in part;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">at a price of $0.01 per Public Warrant;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">upon a minimum of 30 days’ prior written notice of redemption, or the 30-day redemption period to each warrant holder; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">if, and only if, the last reported sale price of the Class A ordinary shares equals or exceeds $18.00 per share (as adjusted for share splits, share dividends, reorganization, recapitalizations and the like) for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which the Company sends the notice of redemption to warrant holders.</td></tr> </table> If and when the warrants become redeemable by the Company, the Company may exercise its redemption right even if it is unable to register or qualify the underlying securities for sale under all applicable state securities laws. If the Company calls the Public Warrants for redemption, as described above, its management will have the option to require any holder that wishes to exercise the Public Warrants to do so on a “cashless basis,” as described in the warrant agreement. The exercise price and number of ordinary shares issuable upon exercise of the Public Warrants may be adjusted in certain circumstances including in the event of a share dividend, extraordinary dividend or recapitalization, reorganization, merger or consolidation. However, except as described below, the Public Warrants will not be adjusted for issuances of ordinary shares at a price below its exercise price. Additionally, in no event will the Company be required to net cash settle the Public Warrants. If the Company is unable to complete a Business Combination within the Combination Period and the Company liquidates the funds held in the Trust Account, holders of Public Warrants will not receive any of such funds with respect to their Public Warrants, nor will they receive any distribution from the Company’s assets held outside of the Trust Account with respect to such Public Warrants. Accordingly, the Public Warrants may expire worthless. The Private Placement Warrants will be identical to the Public Warrants underlying the Units being sold in the Initial Public Offering.

1000000

0.0001

479000000

0.0001

Holders of the Company’s Class A ordinary shares are entitled to one vote for each share.

532500

4663957

7495670

20000000

0.0001

Holders of the Company’s Class B ordinary shares are entitled to one vote for each share.

2875000

0.20 0.20 0.20

P5Y

0.01

18.00

Note 8 – Subsequent Events In accordance with ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before consolidated financial statements are issued, the Company has evaluated all events or transactions that occurred up to the date the consolidated financial statements were available to issue. Based upon this review, the Company identified the following subsequent events: The Company deposited $80,000 on December 9, 2024 in the Company’s Trust Account to extended the period of time from December 11, 2024 to January 11, 2025 to complete the business combination. The Company deposited $80,000 on January 10, 2024 in the Company’s Trust Account to extended the period of time from January 11, 2025 to February 11, 2025 to complete the business combination Subsequent to the approval by the shareholders of the Company of the Amendment to EVGR’s Amended and Restated Memorandum and Articles of Association (the “Charter Amendment”), on January 28, 2025, EVGR filed the Charter Amendment with the Registrar of Companies in the Cayman Islands. Pursuant to the Charter Amendment, EVGR has the right to extend the date by which it has to consummate a business combination up to six (6) times for an additional one (1) month each time from February 11, 2025 to August 11, 2025 (as extended, the “Extended Date”) by depositing into the trust account, for each one-month extension, $<span id="xdx_907_eus-gaap--FinancialInstrumentSubjectToMandatoryRedemptionParValuePerShare_iI_pid_c20250128__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z3bYtgFwo6o5" title="Redemption price per share">0.05 for each Class A ordinary share issued and outstanding after giving effect to the redemption. In connection with the Charter Amendment, the EVGR’s shareholders elected to redeem an aggregate of <span id="xdx_902_eus-gaap--SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares_iI_pid_c20250128__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zpBIqZxfNzOc" title="Redemption share">2,456,657 ordinary shares at a price of approximately $12.00 per share, in an aggregate principal amount of $29,476,971. Following the redemptions, there were <span id="xdx_90F_eus-gaap--ExcessStockSharesOutstanding_iI_pid_c20250128__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z3B3JexB8N33" title="Redemption shares held by public shareholders">2,207,300 Class A Ordinary Shares outstanding held by public shareholders. On January 30, 2025, the Company issued an unsecured, non-interest bearing promissory note in the principal amount of up to $500,000 to Evergreen LLC, the Company’s sponsor for extension and working capital purpose. On February 12, 2025, EVGR’s securities were suspended on Nasdaq with immediate effect after EVGR gave notice that it would be unable to regain compliance with Nasdaq’s continued listing requirements. On February 12, 2025, EVGR Class A ordinary shares, warrants and units were listed and began trading on the Pink Current tier of the OTC Markets. EVGR’s Class A ordinary shares, warrants and units are listed under the symbols “EGSVF,” “EGRVF,” and “EGUVF,” respectively. The Company deposited $110,365 on February 10, 2025 in the Company’s Trust Account to extend the period of time from February 11, 2025 to March 11, 2025 to complete the business combination.

80000

0.05

2456657

12.00

29476971

2207300

500000

110365