Company: QSEA
Filing Date: 2025-03-12
Form Type: S-1/A
Source: 0001829126-25-001750
Chunk: 264

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-12
Form: S-1/A
Chunk 264
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 NOVEMBER 30, 2024</div>

|                                 |     | Ordinary 
 Shares   
 Shares   |           |     | Amount |     |     | Additional 
 Paid-in    
 Capital    |        |     | Accumulated 
 Deficit     |         |   |     | Total         
 Shareholders’ 
 Equity        |         |   |
|:--------------------------------|:----|:---------|----------:|:----|:-------|----:|:----|:-----------|-------:|:----|:------------|:--------|:--|:----|:--------------|--------:|:--|
| Balance                         
 – November 5, 2024 (Inception)  |     |          |         - |     | $      |   - |     | $          |      - |     | $           | -       |   |     | $             |       - |   |
| Founder                         
 shares issued to the Sponsor(1) |     |          | 2,415,000 |     |        | 242 |     |            | 24,758 |     |             | -       |   |     |               |  25,000 |   |
| Net                             
 loss                            |     |          |         - |     |        |   - |     |            |      - |     |             | (10,166 | ) |     |               | (10,166 | ) |
| Balance                         
 – November 30, 2024             |     |          | 2,415,000 |     | $      | 242 |     | $          | 24,758 |     | $           | (10,166 | ) |     | $             |  14,834 |   |

| (1) | Ordinary shares have been retroactively restated to                                                                                      
 reflect an amendment to the Subscription Agreement, which allowed the Sponsor to increase the purchase of ordinary shares from 1,725,000 
 to 2,415,000 shares for $25,000, including an aggregate of up to 315,000 ordinary shares subject to forfeiture if the over-allotment     
 option is not exercised in full or in part by the underwriters (see Note 5 and Note 9).                                                  |

<div align='center'>The accompanying notes are an integral part of these
financial statements.

F-5</div>

<div align='center'>QUARTZSEA ACQUISITION CORPORATION

STATEMENT OF CASH F