Company: SAC-UN
Filing Date: 2025-08-22
Form Type: DRS
Source: 0002077096-25-000043
Chunk: 28

Company: Safeguard Acquisition Corp.
Filing Date: 2025-08-22
Form: DRS
Chunk 28
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 (2)The founder shares are currently classified as Class B ordinary shares, which shares will automatically convert into Class A ordinary shares immediately prior to, concurrently with or immediately following the consummation of our initial business combination, or at any time prior thereto at the option of the holder thereof, on a one -for -onebasis, subject to adjustment as described below adjacent to the caption “— Founder shares conversion and anti -dilution rights.” (3)Includes up to 1,000,000 founder shares that that will be surrendered to us for no consideration depending on the extent to which the underwriters’ over -allotmentoption is exercised. (4)Comprised of 20,000,000 public shares, 640,000 private placement units (purchased by our sponsor and the underwriters in a private placement simultaneously with the closing of this offering) and 6,666,667 founder shares, assuming 1,000,000 founder shares have been forfeited. (5)Comprised of 10,000,000 public warrants and 320,000 private placement warrants included in the private placement units.

17

| Exercise price  |     | $11.50 per whole share, subject to adjustments as described herein. In addition, if (x) we issue additional Class A ordinary shares or equity-linked securities (as defined below) for capital raising purposes in connection with the closing of our initial business combination at an issue price or effective issue price of less than $9.20 per ordinary share (with such issue price or effective issue price to be determined in good faith by our board of directors and, in the case of any such issuance to our sponsor or its affiliates, without taking into account any founder shares held by our sponsor or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of our initial business combination on the date of the consummation of our initial business combination (net of redemptions), and (z) the volume weighted average trading price of our Class A ordinary shares during the 20 trading day period starting on the trading day prior to the day on which we consummate our initial business combination (such price, the “Market Value”) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to