Company: BLUWU
Filing Date: 2025-02-20
Form Type: S-1
Source: 0001493152-25-007630
Chunk: 306

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-02-20
Form: S-1
Chunk 306
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, PLLC

We have served as the Company’s auditor since 2024.

Charlotte, North Carolina

February 19, 2025

| F-2 |

<div align='center'>Blue Water Acquisition Corp. III

BALANCE SHEET</div>

|                                                                                                                      |     | December 31, 
 2024         |         |   |
|:---------------------------------------------------------------------------------------------------------------------|:----|:-------------|--------:|:--|
| Assets:                                                                                                              |     |              |         |   |
| Deferred offering costs                                                                                              |     | $            |  25,000 |   |
| Total Assets                                                                                                         |     | $            |  25,000 |   |
| Liabilities and Shareholder’s Deficit:                                                                               |     |              |         |   |
| Accrued offering costs                                                                                               |     | $            |  25,000 |   |
| Accrued expenses                                                                                                     |     |              |  15,000 |   |
| Accounts payable                                                                                                     |     |              |   7,036 |   |
| Promissory note – related party                                                                                      |     |              |   1,505 |   |
| Total Liabilities                                                                                                    |     |              |  48,541 |   |
| Commitments and Contingencies (Note 6)                                                                               |     |              |         |   |
| Shareholder’s Deficit                                                                                                |     |              |         |   |
| Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued or outstanding                        |     |              |       — |   |
| Class A ordinary shares, $0.0001 par value; 485,000,000 shares authorized; none issued or outstanding                |     |              |       — |   |
| Class B ordinary shares, $0.0001 par value; 10,000,000 shares authorized; 5,750,000 shares issued and outstanding(1) |     |              |     575 |   |
| Additional paid-in capital                                                                                           |     |              |  24,425 |   |
| Accumulated deficit                                                                                                  |     |              | (48,541 | ) |
| Total Shareholder’s Deficit                                                                                          |     |              | (23,541 | ) |
| Total Liabilities and Shareholder’s Deficit                                                                          |     | $            |  25,000 |   |

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