Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 525

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 525
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 Sub, 
 Inc.                |              |              |
| By:                 | /s/          
 Robert Labbe |              |
|                     | Name:        | Robert Labbe |
|                     | Title:       | Director     |

<div align='center'>[Signature Page to Agreement
and Plan of Merger]

A-98</div>

| Greenland             
 Merger Sub:           |              |              |
| Greenland Merger Sub, 
 Inc.                  |              |              |
| By:                   | /s/          
 Robert Labbe |              |
|                       | Name:        | Robert Labbe |
|                       | Title:       | Director     |

| March                
 GL Merger Sub:       |              |              |
| March GL Merger Sub, 
 Inc.                 |              |              |
| By:                  | /s/          
 Robert Labbe |              |
|                      | Name:        | Robert Labbe |
|                      | Title:       | Director     |

<div align='center'>[Signature Page to Agreement
and Plan of Merger]

A-99</div>

| The                   
 Companies:            |                     |                         |
| Greenland Exploration 
 Limited               |                     |                         |
| By:                   | /s/                 
 Larry G. Swets, Jr. |                         |
|                       | Name:               | Larry G. Swets, Jr.     |
|                       | Title:              | Chief Executive Officer |

| March GL Company |              |              |
| By:              | /s/          
 Robert Price |              |
|                  | Name:        | Robert Price |
|                  | Title:       | President    |

<div align='center'>[Signature Page to Agreement
and Plan of Merger]

A-100</div>

<div align='center'>PART II

INFORMATION NOT REQUIRED IN PROSPECTUS</div>

Item 20. Indemnification of Directors and Officers.

Generally, Chapter 8 of the Texas Business Organizations Code, or the TBOC, permits a corporation to indemnify a person who was, is, or is threatened to be made a named defendant or respondent in a proceeding because the person was or is a director or officer if it is determined that such person (1) conducted himself in good faith, (2) reasonably believed (a) in the case of conduct in his official capacity as a director or officer of the corporation, that his conduct was in the corporation’s best interest, or (b) in other cases, that his conduct was