Exhibit 15.1 UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL INFORMATION The following unaudited pro forma condensed consolidated financial information has been prepared in accordance with Article 11 of Regulation S-X. The following unaudited pro forma condensed consolidated financial information presents the
combination of the financial information of DCRD and Hammerhead adjusted to give effect to the Business Combination and related transactions. Defined terms included below have the same meaning as terms defined in the Proxy Statement/Prospectus. DCRD is a blank check company incorporated as a Cayman Islands exempt company on February 22, 2021 and formed for the purpose of
effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Hammerhead is an oil and natural gas exploration, development and production company incorporated in Alberta on November 27, 2009.
Hammerheads reserves, producing properties and exploration prospects are located in the Province of Alberta in the Deep Basin of West Central Alberta where it is developing multi-zone, liquids-right oil and gas plays. The historical financial information of DCRD was derived from the unaudited financial statements of DCRD for the nine months ended
September 30, 2022 and the audited financial statements as of December 31, 2021 and for the period from February 22, 2021 (inception) through December 31, 2021 included in the proxy statement/prospectus. The historical financial
information of Hammerhead was derived from the unaudited interim consolidated financial statements of Hammerhead for the nine months ended September 30, 2022 and 2021 and the audited consolidated financial statements for the years ended
December 31, 2021 and 2020 included in the proxy statement/prospectus. This information should be read together with DCRDs and Hammerheads financial statements and related notes, the sections titled DCRD Managements
Discussion and Analysis of Financial Condition and Results of Operations and Hammerhead Managements Discussion and Analysis of Financial Condition and Results of Operations and other financial information included
in the proxy statement/prospectus. The unaudited pro forma condensed consolidated statement of financial position as of
September 30, 2022 assumes that the Business Combination and related transactions occurred on September 30, 2022. The unaudited pro forma condensed consolidated statement of profit (loss) and comprehensive profit (loss) for the nine months
ended September 30, 2022 and for the year ended December 31, 2021 give pro forma effect to the Business Combination and related transactions as if they had occurred on January 1, 2021. The Riverstone Parties, including certain
Riverstone Fund V Entities, are shareholders of, and together own a controlling interest in, Hammerhead, and are also affiliates of DCRD Sponsor, and DCRDs chief executive officer and director, Robert Tichio, and Jesal Shah, an employee of
Riverstone, are also directors of Hammerhead and NewCo. DCRD Sponsor is also an affiliate of Riverstone. However, no pro forma adjustments were required to eliminate activities between the entities. The unaudited pro forma condensed consolidated financial information has been presented for illustrative purposes only and is not necessarily
indicative of the financial position and results of operations that would have been achieved had the Business Combination and related transactions occurred on the dates indicated. Further, the unaudited pro forma condensed financial information may
not be useful in predicting the future financial condition and results of operations of the post-combination company. The actual financial position and results of operations may differ significantly from the pro forma amounts reflected herein due to
a variety of factors. The unaudited pro forma adjustments represent managements estimates based on information available as of the date of the unaudited pro forma condensed consolidated financial information and is subject to change as
additional information becomes available and analyses are performed. Description of the Business Combination On September 25, 2022, DCRD, Hammerhead, NewCo, and AmalCo, entered into the Business Combination Agreement pursuant to which, among other
things and subject to the terms and conditions contained in the Business Combination Agreement and the Plan of Arrangement, (i) DCRD will transfer by way of continuation from the Cayman Islands to the Province of Alberta, Canada in accordance
with the DCRD Articles and the Companies Act




---

and domesticate as an Alberta corporation in accordance with the ABCA, (ii) DCRD will amalgamate with NewCo in accordance with the terms of the Plan of Arrangement and (iii) Hammerhead
will amalgamate with AmalCo, with as the Amalgamated Company becoming a wholly owned subsidiary of New SPAC in accordance with the terms of the Plan of Arrangement. Pursuant to the closing of the Business Combination, (i) each then issued and outstanding DCRD Class A Common Share will be
exchanged, on a one-for-one basis, for a New SPAC Class A Common Share; (ii) each then issued and outstanding DCRD Class B Common Share will be exchanged,
on a one-for-one basis, for a New SPAC Class B Common Share; (iii) each common share of NewCo outstanding will be exchanged for one New SPAC Class A
Common Share, and immediately thereafter, such New SPAC Class A Common Share will be purchased for cancellation for a nominal amount of cash; (iv) each then issued and outstanding DCRD Warrant will be exchanged for a New SPAC Warrant
pursuant to the DCRD Warrant Agreement; (v) each then issued and outstanding DCRD Unit will be exchanged for a New SPAC Unit; (vi) the New SPAC Class A Common Shares held by Hammerhead will be purchased for cancellation for cash equal
to the subscription price for the common share of NewCo; (vii) each then issued and outstanding Hammerhead Warrant will either be exchanged for New SPAC Common Shares or cash; (viii) each then issued and outstanding Hammerhead Series IX
Preferred Share will be exchanged for a number of New SPAC Class A Common Shares equal to the Hammerhead Common Share Exchange Ratio; (ix) each then issued and outstanding Hammerhead Series VIII Preferred Share, Hammerhead Series VI
Preferred Share, Hammerhead Series IV Preferred Share and Hammerhead Series I Preferred Share will be exchanged for one New SPAC Class A Common Share; (x) each then issued and outstanding Hammerhead Series II Preferred Share will be
exchanged for a number of New SPAC Class A Common Shares equal to the product of the Hammerhead Common Share Exchange Ratio and 1.13208; (xi) each then issued and outstanding Hammerhead Series III Preferred Share will be exchanged for a number
of New SPAC Class A Common Shares equal to the Hammerhead Series III Preferred Share Exchange Ratio; (xii) each then issued and outstanding Hammerhead Series VII preferred share will be exchanged for a number of New SPAC Class A
Common Shares equal to the Hammerhead Series VII Preferred Share Exchange Ratio; (xiii) each then issued and outstanding Hammerhead Option will be exchanged for an option to acquire a number of New SPAC Class A Common Shares equal to
(a) the number of Hammerhead Class A Common Shares subject to the applicable Hammerhead Option multiplied by (b) the Hammerhead Common Share Exchange Ratio, at a per share exercise price (rounded up to the nearest cent) equal to
(x) the per share exercise price for the Hammerhead Class A Common Shares (determined in US dollars with reference to the US dollar to Canadian dollar exchange rate reported by the Bank of Canada on September 23, 2022 of 1.3570)
divided by (y) the Hammerhead Common Share Exchange Ratio; (xiv) each then issued and outstanding Hammerhead RSU will be exchanged for an option to acquire a number of New SPAC Class A Common Shares equal to (a) the number of
Hammerhead Class A Common Shares subject to the applicable Hammerhead RSU multiplied by (b) the Hammerhead Common Share Exchange Ratio, at a per share exercise price (rounded up to the nearest cent) equal to (x) the per share exercise
price for the Hammerhead Class A Common Shares (determined in US dollars with reference to the US dollar to Canadian dollar exchange rate reported by the Bank of Canada on September 23, 2022 of 1.3570) divided by (y) the Hammerhead
Common Share Exchange Ratio; and each then issued and outstanding Hammerhead Class A Common Share and Hammerhead Class B Common Share will be exchanged for a number of New SPAC Class A Common Shares equal to the Hammerhead Common
Share Exchange Ratio. For more information on the conversion of securities in connection with the Business Combination see the subsection The Business Combination  Conversion of Securities. Anticipated Accounting Treatment The
Business Combination is not within the scope of IFRS 3 since DCRD does not meet the definition of a business in accordance with IFRS 3. Given the substance of the transaction, the Business Combination will be accounted for as a share-based payment
transaction within the scope of IFRS 2 as it relates to the stock exchange listing service received and under other relevant standards for cash acquired, replacement of warrants or other assets acquired and liabilities assumed. Hammerhead will be
treated as the acquirer and DCRD will be treated as the acquiree for financial reporting purposes given that Hammerheads operations will comprise the operations of New SPAC, Hammerheads executive management will
be the executive management of New SPAC, Hammerheads director appointees will hold the majority of director seats of New SPAC, and Hammerheads existing shareholders will be the largest shareholder group of New SPAC. Under this method of
accounting, the net assets of Hammerhead will be stated at historical cost, with no goodwill or other intangible assets recorded.




---

In accordance with IFRS 2, the differences in the fair value of the consideration (i.e.,
shares issued by New SPAC) for the acquisition of DCRD over the fair value of the identifiable net assets of DCRD will represent a service for the listing of New SPAC and be recognized as a share-based payment expense. The consideration for the
acquisition of DCRD was determined using the closing prices of DCRD Class A Ordinary Shares. The DCRD Public Warrants and DCRD Private Placement Warrants are assumed to be part of the Business Combination and are assumed as a part of the
identifiable net assets of DCRD. The replacement of warrants is then separately accounted for under IAS 32. As it is expected the fair value of DCRD Public Warrants and DCRD Private Placement Warrants will have similar fair value as those of New
SPAC Public Warrants as of the Closing, no material impact into profit or loss is expected. Basis of Pro Forma Presentation DCRD reports its historical financial information in U.S. Dollars (US$) and Hammerhead reports its historical financial information
in Canadian Dollars (C$). For purposes of this presentation, all US$ balance sheet amounts have been translated into C$ using an exchange rate of US$1.00 to C$1.37, which was the exchange rate published by the Federal Reserve Board as of
September 30, 2022. All US$ statement of profit or loss and other comprehensive profit or loss amounts have been translated into C$ using an average exchange rate of US$1.00 to C$1.33 for the nine months ended September 30, 2022 and
US$1.00 to C$1.25 for the year ended December 31, 2021. All amounts reported within this pro forma financial information are C$ unless otherwise noted as US$. The following summarizes the pro forma ownership of New SPAC Class A Common Shares following the Business Combination and related
transactions:  Number of Shares


Percentage ofOutstandingSharesShares held by current Hammerhead
Shareholders(1)


12,360,907



13.6
%Shares held by current DCRD Public
Shareholders(2)(3)


126,421



0.2
%Shares held by DCRD Founder
Shareholders(4)(5)


3,557,813



3.9
%Shares held by the Riverstone
Parties(6)(7)


74,733,134



82.3
%Pro forma Common Shares


90,778,275



100.0
%  (1)
Excludes New SPAC Class A Common Shares issued to the Riverstone Parties pursuant to the Business
Combination. (2)
Reflects the redemptions of 31,498,579 DCRD Public Shares prior to Closing. (3)
Excludes 15,812,500 New SPAC Class A Common Shares underlying the New SPAC Public Warrants. (4)
Includes DCRD Founder Shares held by DCRD Sponsor and DCRD management after the Founder Transfer of
4,348,437 New SPAC Class A Common Shares to the Riverstone Parties. (5)
Excludes 5,731,875 New SPAC Class A Common Shares underlying the New SPAC Private Placement Warrants
after the Founder Transfer of 7,005,625 New SPAC Private Placement Warrants to the Riverstone Parties. (6)
Includes 70,384,697 New SPAC Class A Common Shares issued to the Riverstone Parties for their interests
in Hammerhead pursuant to the Business Combination and 4,348,437 New SPAC Class A Common Shares after the Founder Transfer. (7)
Excludes 7,005,625 New SPAC Class A Common Shares underlying New SPAC Private Placement Warrants held
by the Riverstone Parties after the Founder Transfer.




---

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS OF SEPTEMBER 30, 2022 (in thousands, except share and per share amounts)  Hammerhead(IFRS, Historical)


DCRD(U.S. GAAP,Historical)


IFRS Conversionand PresentationAlignment (Note 2)


TransactionAccountingAdjustments





Pro FormaCombinedASSETSNon-current assets:Property, plant and equipment

$
1,505,254


$



$



$







$
1,505,254Risk management contracts


1,031



















1,031Marketable securities held in Trust Account






440,468







(440,468
)


A



Total non-current assets


1,506,285



440,468







(440,468
)






1,506,285Current assets:Accounts receivable


64,399



















64,399Prepaid expenses and deposits


3,363



732















4,095Cash


6,590











446,577



A



1,776(15,127
)


C(2,270
)


D(168
)


E(444,792
)


K10,966



LRisk management contracts


7,340



















7,340Total current assets


81,692



732







(4,814
)






77,610Total assets

$
1,587,977


$
441,200


$



$
(445,282
)





$
1,583,895LIABILITIES AND SHAREHOLDERS EQUITYNon-current liabilities:Bank debt

$
107,800


$



$



$
10,966



L


$
118,766Term debt


77,614



















77,614Deferred underwriting fee payable






15,172







(15,172
)


C



Warrant liability


22,048



21,470







(22,048
)


E



21,470Non-current portion of lease obligations


3,376



















3,376Decommissioning obligations


21,108



















21,108DCRD Class A Ordinary Shares subject to redemption










440,331



6,109



A



(446,440
)


BTotal non-current liabilities


231,946



36,642



440,331



(466,585
)






242,334Current liabilities:Accounts payable and accrued liabilities


111,354



14,849







19,272



C



145,475Due to related parties






2,270







(2,270
)


D



Risk management contracts


30,022



















30,022Current portion of lease obligations


814



















814Total current liabilities


142,190



17,119







17,002







176,311Total liabilities


374,136



53,761



440,331



(449,583
)






418,645Commitments and contingencies:DCRD Class A Ordinary Shares subject to possible redemption






440,331



(440,331
)










Equity:DCRD Preferred stock






















DCRD Class A common stock






















DCRD Class B common stock






1







(1
)


B



Preferred share capital


606,131











(606,131
)


G



Common share capital


585,542











5,793



F



(591,335
)


GContributed surplus


95,118











446,441



B



1,390,690(18,160
)


C21,880



E1,197,466



G(52,893
)


H138,689



I6,941



J(444,792
)


KDeficit


(72,950
)


(52,893
)






(1,067
)


C



(225,440
)(5,793
)


F52,893



H(138,689
)


I(6,941
)


JTotal shareholders equity


1,213,841



(52,892
)






4,301







1,165,250Total liabilities and shareholders equity

$
1,587,977


$
441,200


$



$
(445,282
)





$
1,583,895




---

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF PROFIT (LOSS) AND COMPREHENSIVE PROFIT (LOSS) FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2022 (in thousands, except share and per share amounts)  Hammerhead(IFRS, Historical)


DCRD(U.S. GAAP,Historical)


IFRSConversionandPresentationAlignment(Note 2)


TransactionAccountingAdjustments





Pro FormaCombinedRevenueOil and gas revenue

$
645,968


$



$



$







$
645,968Royalties


(81,653
)


















(81,653
)Oil and natural gas revenue, net of royalties


564,315



















564,315Risk Management ContractsRealized loss on risk management contracts


(93,575
)


















(93,575
)Unrealized gain on risk management contracts


4,455



















4,455(89,120
)


















(89,120
)Other income


2,560



















2,560477,755



















477,755Expenses:Operating


79,789



















79,789Transportation


52,481



















52,481General and administrative


16,725







9,297



(14,231
)


BB



11,791Transaction costs


16,021











(16,021
)


BB



Share-based compensation


8,942



















8,942Depletion, depreciation and impairment


108,766



















108,766Finance


18,150











658



GG



18,808Loss on foreign exchange


8,173



















8,173Loss (gain) on warrant evaluation


10,688







(15,581
)


(10,688
)


CC



(15,581
)Loss on debt repayment


218



















218Formation and operating costs






9,297



(9,297
)










Interest income






(2,563
)






2,563



AA



Gain on fair value of derivative warrant liabilities






(15,581
)


15,581











Total expenses


319,953



(8,847
)






(37,719
)






273,387Net comprehensive profit

$
157,802


$
8,847


$



$
37,719






$
204,368Net profit per share (Note 4):Net income per common sharebasic

$
0.36Net income per common sharediluted


0.15Net income per share, DCRD Class A Ordinary Shares subject to possible redemptionbasis
and diluted





$
0.23Net income per share, Class B non-redeemable ordinary
sharesbasis and diluted





$
0.23Weighted average shares outstandingbasic






















90,778,275Net income per sharebasic





















$
2.25Weighted average shares outstandingdiluted






















96,199,861Net income per sharediluted





















$
2.12




---

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF PROFIT (LOSS) AND COMPREHENSIVE PROFIT (LOSS) FOR THE YEAR ENDED DECEMBER 31, 2021 (in thousands, except share and per share amounts)  Year EndedDecember 31,2021


Period from February22, 2021 (Inception)Through December 31,2021Hammerhead(IFRS, Historical)


DCRD(U.S. GAAP,Historical)


IFRSConversionandPresentationAlignment(Note 2)


TransactionAccountingAdjustments





Pro FormaCombinedRevenueOil and gas revenue

$
439,843


$



$



$







$
439,843Royalties


(38,577
)


















(38,577
)Oil and natural gas revenue, net of royalties


401,266



















401,266Risk Management ContractsRealized loss on risk management contracts


(95,407
)


















(95,407
)Unrealized loss on risk management contracts


(16,649
)


















(16,649
)(112,056
)


















(112,056
)Other income


1,202



















1,202290,412



















290,412Expenses:Operating


82,721



















82,721Transportation


62,044



















62,044General and administrative


21,565







9,515



64,749



BB



234,518138,689



DDOptimization fees


19,708



















19,708Share-based compensation


14,039











6,941



FF



20,980Depletion, depreciation and impairment


127,333



















127,333Finance


21,264











877



GG



22,141Gain on foreign exchange


(350
)


















(350
)Loss (gain) on warrant evaluation


96







(11,403
)


(96
)


CC



(11,403
)Loss on asset disposition


13,813



















13,813Loss on settlement of employee loans














5,793



EE



5,793Formation and operating costs






9,515



(9,515
)










Interest income






(11
)






11



AA



Gain on fair value of derivative warrant liabilities






(11,403
)


11,403











Transaction costs allocated to derivative warrant liabilities






1,733















1,733Total expenses


362,233



(166
)






216,964







579,031Net comprehensive (loss) profit

$
(71,821
)

$
166


$



$
(216,964
)





$
(288,619
)Net loss (profit) per share (Note 4):Net loss per common sharebasic and diluted

$
(0.24
)Net income per share, Class A ordinary shares subject to possible redemptionbasis and
diluted





$
0.01Net income per share, Class B non-redeemable ordinary
sharesbasis and diluted





$
0.01Weighted average shares outstandingbasic and diluted






















90,778,275Net loss per sharebasic and diluted





















$
(3.18
)




---

NOTES TO UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL INFORMATION Note 1. Basis of Presentation The
historical consolidated financial statements of Hammerhead have been prepared in accordance with IFRS and in its presentation and reporting currency of Canadian Dollars (C$). The historical financial statements of DCRD have been prepared in
accordance with U.S. GAAP in its presentation and reporting currency of US$. The Business Combination will be accounted for as a
share-based payment transaction, with no goodwill or other intangible assets recorded. Under this method of accounting, DCRD will be treated as the accounting acquiree and Hammerhead as the accounting acquirer for financial
reporting purposes. Accordingly, for accounting purposes, the Business Combination will be treated as the equivalent of Hammerhead issuing shares for the net assets of DCRD, followed by a recapitalization. The net assets of Hammerhead will be stated
at historical cost. The unaudited pro forma condensed consolidated statement of financial position as of September 30, 2022 gives
effect to the Business Combination and related transactions as if they occurred on September 30, 2022. The unaudited pro forma condensed consolidated statements of profit (loss) and comprehensive profit (loss) for the nine months ended
September 30, 2022 and for the year ended December 31, 2021 give effect to the Business Combination and related transactions as if they occurred on January 1, 2021. The Riverstone Parties, including certain Riverstone Fund V Entities,
are shareholders of, and together own a controlling interest in, Hammerhead and are also affiliates of DCRD Sponsor, and DCRDs chief executive officer and director, Robert Tichio, and Jesal Shah, an employee of Riverstone, are also directors
of Hammerhead and NewCo. DCRD Sponsor is also an affiliate of Riverstone. However, no pro forma adjustments were required to eliminate activities between the companies. The pro forma adjustments reflecting the consummation of the Business Combination and the related transaction are based on currently available
information and certain assumptions and methodologies that DCRD management believes are reasonable under the circumstances. The pro forma adjustments, which are described in the accompanying notes, may be revised as additional information becomes
available and is evaluated. Therefore, it is likely that the actual adjustments will differ from the pro forma adjustments, and it is possible that the difference may be material. DCRD management believes that its assumptions and methodologies
provide a reasonable basis for presenting all of the significant effects of the Business Combination and the related transactions based on information available to management at this time and that the pro forma adjustments give appropriate effect to
those assumptions and are properly applied in the unaudited pro forma condensed consolidated financial information. The unaudited pro
forma condensed consolidated financial information does not give effect to any anticipated synergies, operating efficiencies, tax savings, or cost savings that may be associated with the Business Combination. The unaudited pro forma condensed
consolidated financial information is not necessarily indicative of what the actual results of operations and financial position would have been had the Business Combination and related transactions taken place on the dates indicated, nor are they
indicative of the future consolidated results of operations or financial position of the post-combination company. They should be read in conjunction with the historical financial statements and notes thereto of DCRD and Hammerhead. The following table reconciles ownership of Hammerhead shareholders and the Riverstone Parties at closing to historical Hammerhead common
shares and preferred shares issued and outstanding immediately prior to closing.




---

HammerheadHistorical asof Closing


HammerheadAs-Convertedas of Closing


ExchangeRatio


New SPACClass ACommon SharesHammerhead ShareholdersCommon shares


125,995,244



125,995,244



0.0639



8,051,118Preferred shares


28,072,868



66,521,846
(2)


0.0639



4,250,746Outstanding warrants


7,298,296



923,991
(4)


0.0639



59,043Total New SPAC Class A Common Shares owned by Hammerhead Shareholders at Closing














12,360,907Riverstone PartiesCommon shares


266,565,580



266,565,580



0.0639



17,033,541Preferred shares


472,801,334



810,916,431
(1)(2)(3)


0.0639



51,817,560Outstanding warrants


33,721,985



23,999,938
(4)


0.0639



1,533,596Total New SPAC Class A Common Shares owned by Riverstone Parties from Hammerhead shares at
Closing














70,384,697Founder Transfer














4,348,437Total New SPAC Class A Common Shares owned by Riverstone Parties at Closing














74,733,134  (1)
Each Series II First Preferred Share converted to Hammerhead As Converted at 1.13208 per share. (2)
Each Series III First Preferred Share converted to Hammerhead As Converted using the Hammerhead Series III
Preferred Share Exchange Ratio, which is the Company Series III Preferred Share Liquidation Preference, being the as converted share value of US$179,631,775.98, divided by the Share Issue price of US$10. (3)
Each Series VII First Preferred Share converted to Hammerhead As Converted using the Hammerhead Series VII
Preferred Share Exchange Ratio, which is the Company Series VII Preferred Share Liquidation Preference, being the as converted share value of US$130,603,883.57, divided by the Share Issue price of US$10. (4)
Each Company 2020 Warrant will be exercised on a cashless basis for a number of Company Class A Common
Shares determined by the formula (A-B)/A, where A is equal to the Fully-Diluted Company Common Share Price and B is equal to the applicable exercise price (determined with reference to the US dollar to
Canadian dollar exchange rate reported by the Bank of Canada on September 23, 2022 of 1.357) of such Company 2020 Warrant. Immediately prior to Closing, each Hammerhead 2013 Warrant will be exchanged for a cash payment of CAD$0.028. Note 2. IFRS Policy and Presentation Alignment The historical financial information of DCRD has been adjusted to give effect to the differences between U.S. GAAP and IFRS as issued by the
International Accounting Standards Board (IASB) for the purposes of the unaudited pro forma condensed consolidated financial statements. The only adjustment required to convert DCRDs financial statements from U.S. GAAP to IFRS for
purposes of the unaudited pro forma condensed consolidated financial statements was to reclassify the DCRD Ordinary Shares subject to redemption from commitments and contingencies to non-current liabilities
under IFRS. Further, as part of the preparation of the unaudited pro forma condensed consolidated financial statements, certain
reclassifications were made to align DCRDs historical financial statements in accordance with the presentation of Hammerheads historical financial statements. Note 3. Adjustments to Unaudited Pro Forma Condensed Consolidated Financial Information Adjustments to Unaudited Pro Forma Condensed Consolidated Statement of Financial Position The adjustments included in the unaudited pro forma condensed consolidated statement of financial position as of September 30, 2022 are as
follows:  A.
Reflects the reclassification of $446.6 million (US$325.8 million) held in the Trust Account, inclusive of
interest earned on the Trust Account at February 21, 2023, to cash that is available at closing of the Business Combination, prior to redemptions at closing.




---

B.
Reflects the reclassification of approximately $446.4 million (US$325.7 million) of DCRD Class A
Ordinary Shares that are subject to possible redemption into New SPAC Class A Common Shares, and the ultimate reclassification of DCRD Class B Ordinary Shares into New SPAC Class A Common Shares as a result of a series of transactions
as part of the Business Combination.  C.
Represents treatment of total estimated transaction costs of $64.7 million (US$48.6 million) in relation
to the Business Combination, of which $15.1 million (US$11.3 million) was paid at or prior to closing, $19.3 million (US$14.5 million) is accrued and to be paid after closing, and $30.3 million (US$22.7 million) is accrued on the
historical balance sheets of Hammerhead and DCRD and to be paid after closing. Additionally, on January 16, 2023 the underwriters of the DCRD initial public offering agreed to waive their rights to receive deferred underwriting fees in the
amount of $15.2 million (US$11.1 million). All transaction costs are expensed as part of the Business Combination, however all costs incurred by DCRD, net of waived deferred underwriting fees, are expensed and recognized to DCRDs
accumulated deficit and reclassified to additional paid-in capital at closing to reflect the reclassification of DCRDs historical accumulated deficit. The $1.1 million (US$0.8 million) of
transaction costs recognized within accumulated deficit relate to costs incurred by Hammerhead that were not yet accrued on the historical balance sheet presented.  D.
Reflects repayment of amounts due to related parties of DCRD for general operating costs incurred by DCRD.  E.
Reflects the settlement of existing Hammerhead warrant liabilities of approximately $22.0 million as a
result of the Business Combination. Certain of these warrants will be deemed exercised on a cashless basis into New SPAC Class A Common Shares and recognized within equity, and certain of these warrants will be settled for cash consideration of
$0.2 million (US$0.1 million) in accordance with the Plan of Arrangement.  F.
Represents the settlement of certain Hammerhead employee loans receivable pursuant to the Business Combination.
The loans were originally accounted for in accordance with IFRS 2 and recognized within common share capital. The settlement of the loans have been accounted for as a loss on settlement of employee loans of approximately $5.8 million (US$4.2
million) (refer to adjustment EE below).  G.
Represents the recapitalization of Hammerhead outstanding equity (preferred share capital of
$606.1 million and common share capital of $591.3 million) and the issuance of New SPAC Class A Common Shares to existing Hammerhead Shareholders pursuant to the Business Combination.  H.
Reflects the elimination of DCRDs historical accumulated deficit.  I.
Represents the preliminary estimated expense recognized for the stock exchange listing service received, in
accordance with IFRS 2, for the excess of the fair value of New SPAC Class A Common Shares issued to DCRD shareholders and the fair value of DCRDs identifiable net assets at the date of the Business Combination, resulting in a
$138.7 million ($101.2 million) increase to accumulated deficit. The fair value of shares issued was estimated based on the market price of DCRD Class A ordinary shares of $12.77 (US$9.32) per share (as of February 21, 2023). The
value is preliminary and will change based on fluctuations in the share price of the DCRD ordinary shares and warrants, and changes to other identifiable net assets of DCRD, through the closing date. A one percent change in the market price per
share would result in a change to the IFRS 2 listing expense of $1.0 million (US$0.7 million). The estimated IFRS 2 listing expense is further illustrated below (amounts presented are as of September 30, 2022 unless otherwise noted):




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C$


US$(in thousands except share and pershare amounts)Fair value of equity instruments deemed to have been issued by HammerheadDCRD Class A Share Price as of February 21, 2023

$
12.77


$
9.32Total number of DCRD shares at Closing


8,032,671



8,032,671Total fair value of equity instruments issued to DCRD shareholders

$
102,617


$
74,864Fair value of identifiable net assets of
DCRD(1)Marketable securities held in Trust Account as of Closing

$
446,577


$
325,802Prepaid expenses and deposits


732



534Warrant liability


(21,470
)


(15,664
)Other liabilities


(17,119
)


(12,489
)Class A Share redemptions


(444,792
)


(324,500
)Fair value of identifiable net assets of DCRD

$
(36,072
)

$
(26,317
)IFRS 2 listing expense

$
138,689


$
101,181 (1) Recognizes the waiver of DCRD deferred underwriting fees payable on January 16, 2023 in the amount of
$15.2 million (US$11.1 million).  J.
Reflects an acceleration of share-based compensation expense of $6.9 million (US$5.2 million) related to
the expectation to accelerate the vesting of certain unvested Hammerhead share-based awards in connection with the Business Combination.  K.
Reflects redemptions of 31,498,579 New SPAC Class A Common Shares prior to closing, for aggregate payments
to redeeming DCRD Public Shareholders of $444.8 million ($324.5 million) at a redemption price of $14.12 (US$10.30) per share.  L.
Represents cash proceeds of $11.0 million (US$8.0 million) pursuant to the draw on the Credit Facility for
working capital and transaction costs at closing. There were minimal direct issuance costs incurred to execute the draw. Interest on the credit facility accrues at rates contingent on certain factors, which has been estimated to be 8% per annum for
purposes of this pro forma financial information. Adjustments to Unaudited Pro Forma Condensed Consolidated Statement of Profit
(Loss) and Comprehensive Profit (Loss) The adjustments included in the unaudited pro forma condensed consolidated statement of
profit (loss) and comprehensive profit (loss) for the nine months ended September 30, 2022 and for the year ended December 31, 2021 are as follows:  AA.
Reflects elimination of investment income on the Trust Account.  BB.
Reflects estimated transaction costs of $64.7 million (US$48.6 million) as if incurred on January 1,
2021, the date the Business Combination occurred for purposes of the pro forma financial information. This amount includes $14.2 million (US$10.7 million) and $16.0 million (US$12.0 million) of transaction costs recognized in the
historical statements of operations for the nine months ended September 30, 2022 for DCRD and Hammerhead, respectively. The historical amounts have been reversed in the pro forma statement of operations for the nine months ended
September 30, 2022 to recognize all transaction costs as of the beginning of the earliest period presented. This is a non-recurring item.  CC.
Represents the elimination of the historical change in fair value of Hammerhead warrants that are exchanged or
cancelled at closing (refer to adjustment E above).  DD.
Represents $138.7 million (US$101.2 million) listing expense in accordance with IFRS 2, for the difference
between the fair value of New SPAC Class A Common Shares issued and the fair value of DCRDs identifiable net assets at closing (refer to adjustment I above). This is a nonrecurring item.




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EE.
The Company had loans to employees that are settled in accordance with the Business Combination. The employee
loans were originally accounted for in accordance with IFRS 2 and were therefore recognized within equity. The settlement of the loans have been accounted for as a loss on settlement of employee loans of approximately $5.8 million (US$4.2
million).  FF.
Reflects an acceleration of share-based compensation expense of $6.9 million (US$5.2 million) related to
the acceleration of the vesting of certain unvested Hammerhead share-based awards in connection with the Business Combination.  GG.
Represents the recognition of interest expense on the credit facility draw (refer to adjustment L above), as if
the draw was executed on January 1, 2021, consisting of $0.7 million (US$0.5 million) of interest expense for the nine months ended September 30, 2022, and $0.9 million (US$0.7 million) of interest expense for the year ended
December 31, 2021, calculated using an estimated 8% rate of interest. A 1% increase/decrease in the estimated interest rate would not cause a significant difference to interest expense reported for each period presented. Note 4. Net Income (Loss) per Share Net
income (loss) per share was calculated using the historical weighted average shares outstanding, and the issuance of additional shares in connection with the Business Combination, assuming the shares were outstanding since January 1, 2021. As
the Business Combination and related transactions are being reflected as if they had occurred at the beginning of the periods presented, the calculation of weighted average shares outstanding for basic and diluted net income (loss) per share assumes
that the shares issuable in the Business Combination have been outstanding for the entirety of all periods presented.  Nine Months EndedSeptember 30, 2022 (1)


Year EndedDecember 31, 2021 (1)Pro forma net income (loss)(1)

C$
204,368


C$
(288,619
)Weighted average shares outstandingbasic


90,778,275



90,778,275Pro forma net income (loss) per sharebasic

C$
2.25


C$
(3.18
)Weighted average shares outstandingdiluted


96,199,861



90,778,275Pro forma net income (loss) per sharediluted

C$
2.12


C$
(3.18
)Potentially dilutive securitiesNew SPAC Public Warrants


15,812,500



15,812,500New SPAC Private Placement Warrants


12,737,500



12,737,500Hammerhead Options(2)


579,891



6,001,477  (1)
Pro forma net income (loss) per share includes the related pro forma adjustments as referred to within the
section Unaudited Pro Forma Condensed Consolidated Financial Information. (2)
5,421,586 options are included in the weighted average shares outstandingdiluted for the nine months
ended September 30, 2022 as a result of the treasury stock method.