SCHEDULE 13G 0001304857 XXXXXXXX LIVE Class A ordinary shares, par value $0.0001 per share 04/25/2025 0002012318 Inflection Point Acquisition Corp. III G47875102 167 Madison Avenue, Suite 205 #1017 New York NY 10016 Rule 13d-1(c) MMCAP International Inc. SPC a E9 0 1400000 0 1400000 1400000 6.16 CO MM Asset Management Inc. a A6 0 1400000 0 1400000 1400000 6.16 CO Inflection Point Acquisition Corp. III 167 Madison Avenue, Suite 205 #1017, New York, NEW YORK 10016 MMCAP International Inc. SPC MM Asset Management Inc. c/o Mourant Governance Services (Cayman) Limited 94 Solaris Avenue Camana Bay, P.O. Box 1348 Grand Cayman, KY1-1108, Cayman Islands 161 Bay Street, TD Canada Trust Tower, Suite 2240, Toronto, ON M5J 2S1 Canada Cayman Islands Ontario, Canada Y 1,400,000 6.16 N/A 1,400,000 N/A 1,400,000 Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. Exhibit 1 - Joint Filing Agreement MMCAP International Inc. SPC /s/ Ulla Vestergaard 04/28/2025 MM Asset Management Inc. /s/ Hillel Meltz 04/28/2025