# EDGAR Filing Document

**Accession Number:** 0002074872
**File Stem:** 0001213900-25-090428
**Filing Date:** 2025-9
**Character Count:** 98490
**Document Hash:** bcc6feaa68f32214f77002fd96400a01
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-090428.hdr.sgml**: 20250923

**ACCESSION NUMBER**: 0001213900-25-090428

**CONFORMED SUBMISSION TYPE**: S-1/A

**PUBLIC DOCUMENT COUNT**: 7

**FILED AS OF DATE**: 20250923

**DATE AS OF CHANGE**: 20250923

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Rice Acquisition Corp 3
- **CENTRAL INDEX KEY:** 0002074872
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-1/A
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-289938
- **FILM NUMBER:** 251332306

**BUSINESS ADDRESS:**
- **STREET 1:** 443 WOODLAND ROAD
- **CITY:** SEWICKLEY
- **STATE:** PA
- **ZIP:** 15143
- **BUSINESS PHONE:** 412-228-1801

**MAIL ADDRESS:**
- **STREET 1:** 443 WOODLAND ROAD
- **CITY:** SEWICKLEY
- **STATE:** PA
- **ZIP:** 15143

#### As filed with the U.S. Securities and Exchange Commission on September 23 , 2025.

#### Registration No. 333-289938

#### UNITED STATES <br>SECURITIES AND EXCHANGE COMMISSION<br> Washington, D.C. 20549
**____________________**

#### AMENDMENT NO. 2 TO <br>FORM S-1<br>REGISTRATION STATEMENT<br>UNDER<br>THE SECURITIES ACT OF 1933
**____________________**

#### Rice Acquisition Corporation 3<br> (Exact name of registrant as specified in its charter)
**____________________**

---

| | | |
|:---|:---|:---|
|  **Cayman Islands** | **6770** | **98-1863122** |
|  (State or other jurisdiction of <br>incorporation or organization) | (Primary Standard Industrial <br>Classification Code Number) | (I.R.S. Employer <br>Identification **No.**) |

---

#### 102 East Main Street, Second Story<br>Carnegie, Pennsylvania 15106<br> (412) 228-1801<br> (Address, including zip code, and telephone number, including area code, of registrant's principal executive offices)
**____________________**

**J. Kyle Derham<br>Chief Executive Officer <br>102 East Main Street, Second Story<br>Carnegie, Pennsylvania 15106<br>(412) 228**-1801****<br> (Name, address, including zip code, and telephone number, including area code, of agent for service)

**____________________**

*Copies of all communications, including communications sent to agent for service, should be sent to:*

---

| | |
|:---|:---|
|  **Matthew Pacey, P.C.<br>Lanchi Huynh**<br> **Erin Meziere<br>Kirkland & Ellis LLP<br>609 Main Street<br>Houston, Texas 77002<br>(713) 836-3600** | **E. Ramey Layne<br>Stancell Haigwood<br>Vinson & Elkins L.L.P.<br>1114 Sixth Avenue, 32**<sup>nd</sup> **Floor<br>New York, New York 10036<br>(212) 237**-0000 |

---

**____________________**

#### Approximate date of commencement of proposed sale to the public: <br>As soon as practicable after this registration statement becomes effective.
**____________________**

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box: ☐

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

<u> Large accelerated filer </u>   <u> ☐ </u>   <u> Accelerated filer </u>   <u> ☐ </u> <br> <u> Non-accelerated filer </u>   <u> ☒ </u>   <u> Smaller reporting company </u>   <u> ☒ </u> <br>         <u> Emerging growth company </u>   <u> ☒ </u>

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

**____________________**

**The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until this registration statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.**

------

#### EXPLANATORY NOTE
Rice Acquisition Corporation 3 is filing this Amendment No. 2 to the Registration Statement on Form S-1 (File No. 333-289938) (the "Registration Statement") solely to re-file Exhibits 5.1, 5.2, 10.1, 23.2 and 23.3. This Amendment No. 2 does not modify any provision of the preliminary prospectus contained in Part I of the Registration Statement. Accordingly, the preliminary prospectus has been omitted.

------

#### PART II<br>INFORMATION NOT REQUIRED IN PROSPECTUS

#### Item 13. Other Expenses of Issuance and Distribution.
The estimated expenses payable by us in connection with the offering described in this registration statement (other than the underwriting discount and commissions) will be as follows:

---

| | |
|:---|:---|
|  SEC expenses | $62944 |
|  FINRA expenses | 62169 |
|  Accounting fees and expenses | 50000 |
|  Printing and engraving expenses | 40000 |
|  Travel and road show expenses | 20000 |
|  Legal fees and expenses | 700000 |
|  NYSE listing and filing fees | 85000 |
|  Miscellaneous | 229887 |
|  Total | $1250000 |

---

#### Item 14. Indemnification of Directors and Officers.
Cayman Islands law does not limit the extent to which a company's memorandum and articles of association may provide for indemnification of officers and directors, except to the extent any such provision may be held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification against willful default, willful neglect, civil fraud or the consequences of committing a crime. Our amended and restated memorandum and articles of association will provide for indemnification of our officers and directors to the maximum extent permitted by law, including for any liability incurred in their capacities as such, except through their own actual fraud, willful default or willful neglect. We will enter into agreements with our directors and officers to provide contractual indemnification in addition to the indemnification provided for in our amended and restated memorandum and articles of association. We expect to purchase a policy of directors' and officers' liability insurance that insures our officers and directors against the cost of defense, settlement or payment of a judgment in some circumstances and insures us against our obligations to indemnify our officers and directors.

Our officers and directors have agreed to waive any right, title, interest or claim of any kind in or to any monies in the trust account, and have agreed to waive any right, title, interest or claim of any kind they may have in the future as a result of, or arising out of, any services provided to us and will not seek recourse against the trust account for any reason whatsoever (except to the extent they are entitled to funds from the trust account due to their ownership of public shares). Accordingly, any indemnification provided will only be able to be satisfied by us if (i) we have sufficient funds outside of the trust account or (ii) we consummate an initial business combination.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling us pursuant to the foregoing provisions, we have been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

#### Item 15. Recent Sales of Unregistered Securities.
On June 20, 2025, Rice Acquisition Sponsor 3 LLC, our sponsor, received 9,487,500 Class B units of Opco for no consideration and purchased 9,487,500 corresponding Class B ordinary shares, 2,500 Class A ordinary shares and 100 Class A units of Opco and 100 corresponding Class B ordinary shares for an aggregate of $26,000. The number of founder securities was determined based on the expectation that the founder securities would represent 25% of the total ordinary shares issued and outstanding after this offering (excluding any shares issuable upon exercise of any warrants). Such securities were issued in connection with our organization pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act.

In September 2025, our sponsor forfeited 90,000 Class B units of Opco, and 30,000 Class B units of Opco were issued to each of our independent director nominees pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act. Our sponsor also transferred a corresponding number of shares of our Class B

ordinary shares to our independent director nominees. Subsequently in September 2025, due to an expected increase in the size of this offering, we effected a share capitalization of 2,012,500 Class B ordinary shares, and Opco effected an additional issuance of 2,012,500 Class B units of Opco, resulting in our sponsor owning 11,500,000 Class B units of Opco and 11,500,100 Class B ordinary shares. Such securities were issued pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act.

Our sponsor is an accredited investor for purposes of Rule 501 of Regulation D. Each of the equity holders in our sponsor is an accredited investor under Rule 501 of Regulation D. The sole business of our sponsor is to act as the company's sponsor in connection with this offering.

Our sponsor has committed, pursuant to a written agreement, to purchase an aggregate of 9,750,000 private placement warrants (or 10,650,000 private placement warrants if the underwriters' over-allotment option is exercised in full), each exercisable to purchase one ordinary share at $11.50 per share, subject to adjustment, at a price of $1.00 per warrant ($9,750,000 in the aggregate (or $10,650,000 if the underwriters' over-allotment option is exercised in full)), in a private placement that will close simultaneously with the closing of this offering. This issuance will be made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act.

No underwriting discounts or commissions were paid with respect to such sales.

#### Item 16. Exhibits and Financial Statement Schedules.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Exhibits. The following exhibits are filed as part of this registration statement:

---

| | |
|:---|:---|
|  **Exhibit No.** | **Description** |
|  1.1+ | [Form of Underwriting Agreement.](http://www.sec.gov/Archives/edgar/data/2074872/000121390025089074/ea024717604ex1-1_riceacq3.htm) |
|  3.1+ | [Memorandum and Articles of Association.](http://www.sec.gov/Archives/edgar/data/2074872/000121390025082518/ea024717602ex3-1_riceacq3.htm) |
|  3.2+ | [Form of Amended and Restated Memorandum and Articles of Association of the Registrant.](http://www.sec.gov/Archives/edgar/data/2074872/000121390025089074/ea024717604ex3-2_riceacq3.htm) |
|  4.1+ | [Specimen Unit Certificate.](http://www.sec.gov/Archives/edgar/data/2074872/000121390025089074/ea024717604ex4-1_riceacq3.htm) |
|  4.2+ | [Specimen Class A Ordinary Share Certificate.](http://www.sec.gov/Archives/edgar/data/2074872/000121390025082518/ea024717602ex4-2_riceacq3.htm) |
|  4.3+ | [Specimen Warrant Certificate.](http://www.sec.gov/Archives/edgar/data/2074872/000121390025089074/ea024717604ex4-3_riceacq3.htm) |
|  4.4+ | [Form of Public Warrant Agreement between Odyssey Transfer and Trust Company and the Registrant.](http://www.sec.gov/Archives/edgar/data/2074872/000121390025089074/ea024717604ex4-4_riceacq3.htm) |
|  4.5+ | [Form of Private Warrant Agreement between Odyssey Transfer and Trust Company and the Registrant.](http://www.sec.gov/Archives/edgar/data/2074872/000121390025089074/ea024717604ex4-5_riceacq3.htm) |
| 5.1 | [Opinion of Kirkland & Ellis LLP.](ea024717606ex5-1_riceacq3.htm) |
| 5.2 | [Opinion of Maples and Calder (Cayman) LLP, Cayman Islands Counsel to the Registrant.](ea024717606ex5-2_riceacq3.htm) |
| 10.1 | [Form of Investment Management Trust Agreement between Odyssey Transfer and Trust Company and the Registrant and Opco.](ea024717606ex10-1_riceacq3.htm) |
|  10.2+ | [Form of Registration Rights Agreement among the Registrant, the Sponsor and the Holders signatory thereto.](http://www.sec.gov/Archives/edgar/data/2074872/000121390025089074/ea024717604ex10-2_riceacq3.htm) |
|  10.3+ | [Form of Private Placement Warrants Purchase Agreement between the Registrant, Opco and the Sponsor.](http://www.sec.gov/Archives/edgar/data/2074872/000121390025089074/ea024717604ex10-3_riceacq3.htm) |
|  10.4+ | [Form of Indemnity Agreement.](http://www.sec.gov/Archives/edgar/data/2074872/000121390025082518/ea024717602ex10-4_riceacq3.htm) |
|  10.5+ | [Form of Administrative Services Agreement between the Registrant, Opco and the Sponsor.](http://www.sec.gov/Archives/edgar/data/2074872/000121390025089074/ea024717604ex10-5_riceacq3.htm) |
|  10.6+ | [Promissory Note, dated as of June 20, 2025, between Opco and the Sponsor.](http://www.sec.gov/Archives/edgar/data/2074872/000121390025082518/ea024717602ex10-6_riceacq3.htm) |
|  10.7+ | [Securities Subscription Agreement, dated June 20, 2025, between the Registrant and the Sponsor.](http://www.sec.gov/Archives/edgar/data/2074872/000121390025082518/ea024717602ex10-7_riceacq3.htm) |
|  10.8+ | [Securities Subscription Agreement, dated June 20, 2025, between Opco and the Registrant.](http://www.sec.gov/Archives/edgar/data/2074872/000121390025082518/ea024717602ex10-8_riceacq3.htm) |
|  10.9+ | [Securities Subscription Agreement, dated June 20, 2025, between Opco and the Sponsor.](http://www.sec.gov/Archives/edgar/data/2074872/000121390025082518/ea024717602ex10-9_riceacq3.htm) |
|  10.10+ | [Securities Subscription Agreement, dated June 20, 2025, between Opco and the Sponsor.](http://www.sec.gov/Archives/edgar/data/2074872/000121390025082518/ea024717602ex10-10_riceacq3.htm) |
|  10.11+ | [Form of Letter Agreement among Opco, the Registrant, the Sponsor and each director and executive officer of the Registrant.](http://www.sec.gov/Archives/edgar/data/2074872/000121390025089074/ea024717604ex10-11_riceacq3.htm) |
|  10.12+ | [Form of Amended and Restated Limited Liability Company Agreement of Opco.](http://www.sec.gov/Archives/edgar/data/2074872/000121390025089074/ea024717604ex10-12_riceacq3.htm) |
|  10.13+ | [Forward Purchase Agreement, dated August 25, 2025, among the Registrant, Shalennial Acquisition Sponsor 3 LLC and Mercuria Energy Group Holding, SA.](http://www.sec.gov/Archives/edgar/data/2074872/000121390025082518/ea024717602ex10-13_riceacq3.htm) |
|  10.14+ | [Securities Subscription Agreement, dated September 16, 2025, between Opco and the Sponsor.](http://www.sec.gov/Archives/edgar/data/2074872/000121390025089074/ea024717604ex10-14_riceacq3.htm) |

---

---

| | |
|:---|:---|
|  **Exhibit No.** | **Description** |
|  23.1+ | [Consent of WithumSmith+Brown, PC.](http://www.sec.gov/Archives/edgar/data/2074872/000121390025089074/ea024717604ex23-1_riceacq3.htm) |
| 23.2 | [Consent of Kirkland & Ellis LLP (included on Exhibit 5.1).](ea024717606ex5-1_riceacq3.htm) |
| 23.3 | [Consent of Maples and Calder (Cayman) LLP (included on Exhibit 5.2).](ea024717606ex5-2_riceacq3.htm) |
|  24.1+ | [Power of Attorney (included on signature page to the initial filing of this registration statement).](http://www.sec.gov/Archives/edgar/data/2074872/000121390025082518/ea0247176-02.htm#T101) |
|  99.1+ | [Consent of Brian Falik.](http://www.sec.gov/Archives/edgar/data/2074872/000121390025082518/ea024717602ex99-1_riceacq3.htm) |
|  99.2+ | [Consent of Kathryn J. Jackson.](http://www.sec.gov/Archives/edgar/data/2074872/000121390025082518/ea024717602ex99-2_riceacq3.htm) |
|  99.3+ | [Consent of D. Mark Leland.](http://www.sec.gov/Archives/edgar/data/2074872/000121390025082518/ea024717602ex99-3_riceacq3.htm) |
|  99.4+ | [Consent of David Savett.](http://www.sec.gov/Archives/edgar/data/2074872/000121390025082518/ea024717602ex99-4_riceacq3.htm) |
|  107+ | [Filing Fee Table.](http://www.sec.gov/Archives/edgar/data/2074872/000121390025089074/ea024717604ex-fee_riceacq3.htm) |

---

____________

+ Previously filed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Financial Statements.

See page F-1 for an index to the financial statements and schedules included in this registration statement.

#### Item 17. Undertakings.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The undersigned registrant hereby undertakes to provide to the underwriters at the closing specified in the underwriting agreements, certificates in such denominations and registered in such names as required by the underwriters to permit prompt delivery to each purchaser.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The undersigned registrant hereby undertakes that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. For purposes of determining any liability under the Securities Act of 1933, the information omitted from the form of prospectus filed as part of this registration statement in reliance upon Rule 430A and contained in a form of prospectus filed by the registrant pursuant to Rule 424(b)(1) or (4)or 497(h) under the Securities Act shall be deemed to be part of this registration statement as of the time it was declared effective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. For the purpose of determining any liability under the Securities Act of 1933, each post-effective amendment that contains a form of prospectus shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

#### SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Carnegie, Commonwealth of Pennsylvania, on September 23, 2025.

---

| | |
|:---|:---|
|  **RICE ACQUISITION CORPORATION 3** | **RICE ACQUISITION CORPORATION 3** |
|  By: | /s/ J. Kyle Derham  |
|  Name: | J. Kyle Derham |
|  Title: | Chief Executive Officer |

---

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed below by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
|  **Name** | **Position** | **Date** |
|  /s/ J. Kyle Derham  | Chief Executive Officer and Director | September 23, 2025 |
|  J. Kyle Derham | (Principal Executive Officer) |  |
|  /s/ James Wilmot Rogers | Chief Financial Officer and Chief Accounting Officer | September 23, 2025 |
|  James Wilmot Rogers | (Principal Financial Officer and Principal Accounting Officer) |  |

---

#### AUTHORIZED REPRESENTATIVE IN THE UNITED STATES
Pursuant to the requirements of Section 6(a) of the Securities Act of 1933, the undersigned has signed this registration statement, solely in his capacity as Rice Acquisition Corporation 3's duly authorized representative in the United States, in the City of Carnegie, Commonwealth of Pennsylvania, on September 23, 2025.

---

| | |
|:---|:---|
|  By: | /s/ J. Kyle Derham  |
|  Name: | J. Kyle Derham |
|  Title: | Authorized Representative |

---

## Exhibit 5.1

**Exhibit 5.1**

![](ex5-1_001.jpg)

---

| | |
|:---|:---|
| 609 Main Street<br> Houston, TX 77002<br> United States |  |
|  | Facsimile: |
| +1 713 836 3600 | +1 713 836 3601 |
| www.kirkland.com<br>|  |

---

September 23, 2025

Rice Acquisition Corporation 3

102 East Main Street

Second Story Carnegie, PA 15106

Re: Rice Acquisition Corporation 3 Registration Statement on Form S-1

Ladies and Gentlemen:

We are issuing this opinion in our capacity as special United States counsel to Rice Acquisition Corporation 3, a Cayman Islands exempted company (the "***Company***"), in connection with the registration under the Securities Act of 1933, as amended (the "***Act***"), on a Registration Statement on Form S-1, initially publicly filed with the U.S. Securities and Exchange Commission (the "***Commission***") on August 29, 2025 (such Registration Statement, as amended at the effective date thereof, being referred to herein as the "***Registration Statement***") of 34,500,000 units of the Company, including the underwriter's over-allotment option to purchase up to an additional 4,500,000 units (collectively, the "***Units***"), with each Unit consisting of one Class A ordinary share, par value $0.0001 per share (the "***Class A Ordinary Shares***"), of the Company and one-sixth of one redeemable warrant of the Company to purchase one Class A Ordinary Share (the "***Warrants***").

This opinion is being furnished in accordance with the requirements of Item 601(b)(5) of Regulation S-K promulgated under the Act. In rendering the opinions stated herein, we have examined and relied upon the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the form of Underwriting Agreement (the "***Underwriting Agreement***") proposed to be entered into by and among the Company, Rice Acquisition Holdings 3 LLC, a Cayman Islands limited liability company, and Barclays Capital Inc. and Jefferies LLC, as representatives of the several underwriters named therein (the "***Underwriters***"), relating to the sale by the Company to the Underwriters of the Units, filed as Exhibit 1.1 to the Registration Statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the form of Unit Certificate, filed as Exhibit 4.1 to the Registration Statement;

Austin Bay Area Beijing Boston Brussels Chicago Dallas Frankfurt Hong Kong Houston London Los Angeles Miami Munich New York Paris Philadelphia Riyadh Salt Lake City Shanghai Washington, D.C.

![](ex5-1_001.jpg)

Rice Acquisition Corporation 3

September 23, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the form of Warrant Certificate, filed as Exhibit 4.3 to the Registration Statement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the form of Warrant Agreement proposed to be entered into by and between the Company and Odyssey Transfer and Trust Company, as warrant agent (the "***Warrant Agreement***"), filed as Exhibit 4.4 to the Registration Statement.

For purposes of this letter, we have examined such other documents, records, certificates, resolutions and other instruments deemed necessary as a basis for this opinion, and we have assumed the authenticity of all documents submitted to us as originals, the conformity to the originals of all documents submitted to us as copies and the authenticity of the originals of all documents submitted to us as copies. As to any facts material to the opinions expressed herein which we have not independently established or verified, we have relied upon statements and representations of officers and other representatives of the Company and others.

We do not express any opinion with respect to the laws of any jurisdiction other than the laws of the State of New York.

Based upon the foregoing and subject to the qualifications and assumptions stated herein, we are of the opinion that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. When the Units are delivered in accordance with the Underwriting Agreement upon payment of the agreed upon consideration therefor, the Units will constitute valid and binding obligations of the Company, enforceable against the Company in accordance with their terms under the laws of the State of New York.

![](ex5-1_001.jpg)

Rice Acquisition Corporation 3

September 23, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. When the Units are delivered in accordance with the Underwriting Agreement upon payment of the agreed upon consideration therefor, the Warrants included in such Units will constitute valid and binding obligations of the Company, enforceable against the Company in accordance with their terms under the laws of the State of New York.

Our opinions expressed above are subject to the qualifications that we express no opinion as to the applicability of, compliance with, or effect of (i) any bankruptcy, insolvency, reorganization, fraudulent transfer, fraudulent conveyance, moratorium or other similar law or judicially developed doctrine in this area (such as substantive consolidation or equitable subordination) affecting the enforcement of creditors' rights generally, (ii) general principles of equity (regardless of whether enforcement is considered in a proceeding in equity or at law), (iii) an implied covenant of good faith and fair dealing, (iv) public policy considerations which may limit the rights of parties to obtain certain remedies, (v) any requirement that a claim with respect to any security denominated in other than U.S. dollars (or a judgment denominated in other than U.S. dollars in respect of such claim) be converted into U.S. dollars at a rate of exchange prevailing on a date determined in accordance with applicable law, (vi) governmental authority to limit, delay or prohibit the making of payments outside of the United States or in a foreign currency or currency unit and (vii) any laws except the laws of the State of New York. We advise you that issues addressed by this letter may be governed in whole or in part by other laws, but we express no opinion as to whether any relevant difference exists between the laws upon which our opinions are based and any other laws which may actually govern.

![](ex5-1_001.jpg)

Rice Acquisition Corporation 3

September 23, 2025

We hereby consent to the filing of this opinion with the Commission as Exhibit 5.1 to the Registration Statement. We also consent to the reference to our firm under the heading "Legal Matters" in the Registration Statement. In giving this consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission.

We do not find it necessary for the purposes of this opinion, and accordingly we do not purport to cover herein, the application of the securities or "Blue Sky" laws of the various states to the offering of the Units.

This opinion is limited to the specific issues addressed herein, and no opinion may be inferred or implied beyond that expressly stated herein. We assume no obligation to revise or supplement this opinion should the present laws of the State of New York be changed by legislative action, judicial decision or otherwise.

This opinion is furnished to you in connection with the filing of the Registration Statement and is not to be used, circulated, quoted or otherwise relied upon for any other purposes.

---

| |
|:---|
| Very truly yours, |
| /s/ KIRKLAND & ELLIS LLP |

---

## Exhibit 5.2

**Exhibit 5.2**

![](ex5-2_001.jpg)

Our ref ADN/858543-000001/84324318v3

Rice Acquisition Corporation 3<br> PO Box 309, Ugland House<br> Grand Cayman, KY1-1104<br> Cayman Islands

23 September 2025

**Rice Acquisition Corporation 3**

We have acted as counsel as to Cayman Islands law to Rice Acquisition Corporation 3 (the "**Company**") in connection with the Company's registration statement on Form S-1, including all amendments or supplements thereto, filed with the United States Securities and Exchange Commission (the "**Commission**") under the United States Securities Act of 1933, as amended (the "**Act**") (including its exhibits, the "**Registration Statement**") for the purposes of, registering with the Commission under the Act, the offering and sale to the public of:

(a) up to 34,500,000 units (including 4,500,000 units, which the several underwriters, for whom Barclays Capital
Inc. and Jefferies LLC are acting as representatives ()"**Representatives** "), will have a 45-day option to purchase from
the Company to cover over-allotments, if any) ()"**Units**") at an offering price of US$10 per Unit, each Unit consisting
of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) one Class A ordinary share of a par value of US$0.0001 of the Company ()"**Ordinary Shares** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) one-sixth of one redeemable warrant, each whole warrant exercisable to purchase one Ordinary Share at
a price of US$11.50 per Ordinary Share ()"**Warrants** ");

(b) all Ordinary Shares and Warrants issued as part of the Units; and

(c) all Ordinary Shares that may be issued upon exercise of the Warrants included in the Units.

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This opinion letter is given in accordance with the terms of the Legal Matters section of the Registration Statement.

1 Documents Reviewed

We have reviewed originals, copies, drafts or conformed copies of the following documents:

1.1 The certificate of incorporation dated 6 June 2025, and the memorandum and articles of association of
the Company as registered or adopted on 6 June 2025 (the "**Memorandum and Articles** ").

1.2 The written resolutions of the board of directors of the Company dated 20 June 2025 and 16 September 2025
(together, the "**Resolutions** ").

1.3 The following corporate records of the Company maintained at its registered office in the Cayman Islands,
each as at the date of this opinion letter:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Register of Members;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Register of Directors and Officers; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Register of Mortgages and Charges.

1.4 A certificate of good standing with respect to the Company issued by the Registrar of Companies dated
18 September 2025 (the "**Certificate of Good Standing** ").

1.5 A certificate from a director of the Company a copy of which is attached to this opinion letter (the "**Director's Certificate** ").

1.6 The Registration Statement.

1.7 A draft of the form of the unit certificate representing the Units (the "**Unit Certificate** ").

1.8 A draft of the form of the public warrant agreement and the warrant certificate constituting the Warrants
(the "**Warrant Documents** ").

1.9 A draft of the underwriting agreement between the Company, Rice Acquisition Holdings 3 LLC and the Representatives
(the "**Underwriting Agreement** ").

The documents listed in paragraphs 1.7 to 1.9 inclusive above shall be referred to collectively herein as the "**Documents**".

2 Assumptions

The following opinions are given only as to, and based on, circumstances and matters of fact existing and known to us on the date of this opinion letter. These opinions only relate to the laws of the Cayman Islands which are in force on the date of this opinion letter. In giving the following opinions, we have relied (without further verification) upon the completeness and accuracy, as at the date of this opinion letter, of the Director's Certificate and the Certificate of Good Standing. We have also relied upon the following assumptions, which we have not independently verified:

2.1 The Documents have been or will be authorised and duly executed and unconditionally delivered by or on
behalf of all relevant parties in accordance with all relevant laws (other than, with respect to the Company, the laws of the Cayman Islands).

2.2 The Documents are, or will be, legal, valid, binding and enforceable against all relevant parties in accordance
with their terms under the laws of the State of New York (the "**Relevant Law**") and all other relevant laws (other than,
with respect to the Company, the laws of the Cayman Islands).

2.3 The choice of the Relevant Law as the governing law of the Documents has been made in good faith and would
be regarded as a valid and binding selection which will be upheld by the courts of the State of New York and any other relevant jurisdiction
(other than the Cayman Islands) as a matter of the Relevant Law and all other relevant laws (other than the laws of the Cayman Islands).

2.4 Copies of documents, conformed copies or drafts of documents provided to us are true and complete copies
of, or in the final forms of, the originals.

2.5 All signatures, initials and seals are genuine.

2.6 The capacity, power, authority and legal right of all parties under all relevant laws and regulations
(other than, with respect to the Company, the laws and regulations of the Cayman Islands) to enter into, execute, unconditionally deliver
and perform their respective obligations under the Documents.

2.7 No invitation has been or will be made by or on behalf of the Company to the public in the Cayman Islands
to subscribe for any of the Units, the Warrants or the Ordinary Shares.

2.8 There is no contractual or other prohibition or restriction (other than as arising under Cayman Islands
law) binding on the Company prohibiting or restricting it from entering into and performing its obligations under the Documents.

2.9 No monies paid to or for the account of any party under the Documents or any property received or disposed
of by any party to the Documents in each case in connection with the Documents or the consummation of the transactions contemplated thereby
represent or will represent proceeds of criminal conduct or criminal property or terrorist property (as defined in the Proceeds of Crime
Act (As Revised) and the Terrorism Act (As Revised), respectively).

2.10 There is nothing under any law (other than the laws of the Cayman Islands) which would or might affect
the opinions set out below. Specifically, we have made no independent investigation of the Relevant Law.

2.11 The Company will receive money or money's worth in consideration for the issue of the Ordinary Shares
and none of the Ordinary Shares were or will be issued for less than par value.

Save as aforesaid we have not been instructed to undertake and have not undertaken any further enquiry or due diligence in relation to the transaction the subject of this opinion letter.

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| 3 | Opinions |

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Based upon, and subject to, the foregoing assumptions and the qualifications set out below, and having regard to such legal considerations as we deem relevant, we are of the opinion that:

3.1 The Company has been duly incorporated as an exempted company with limited liability and is validly existing
and in good standing with the Registrar of Companies under the laws of the Cayman Islands.

3.2 The Ordinary Shares to be offered and issued by the Company as contemplated by the Registration Statement
(including the issuance of Ordinary Shares upon the exercise of the Warrants in accordance with the Warrant Documents) have been duly
authorised for issue, and when issued by the Company against payment in full of the consideration as set out in the Registration Statement
and in accordance with the terms set out in the Registration Statement (including the issuance of Ordinary Shares upon the exercise of
the Warrants in accordance with the Warrant Documents), such Ordinary Shares will be validly issued, fully paid and non-assessable. As
a matter of Cayman Islands law, a share is only issued when it has been entered in the register of members (shareholders).

3.3 The execution, delivery and performance of the Unit Certificate and the Warrant Documents have been authorised
by and on behalf of the Company and, once the Unit Certificate and the Warrant Documents have been executed and delivered by any director
or officer of the Company, the Unit Certificate and the Warrant Documents will be duly executed and delivered on behalf of the Company
and will constitute the legal, valid and binding obligations of the Company enforceable in accordance with their terms.

4 Qualifications

The opinions expressed above are subject to the following qualifications:

4.1 The obligations assumed by the Company under the Documents will not necessarily be enforceable in all
circumstances in accordance with their terms. In particular:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) enforcement may be limited by bankruptcy, insolvency, liquidation, reorganisation, readjustment of debts
or moratorium or other laws of general application relating to protecting or affecting the rights of creditors and/or contributories;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) enforcement may be limited by general principles of equity. For example, equitable remedies such as specific
performance may not be available, *inter alia*, where damages are considered to be an adequate remedy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) where obligations are to be performed in a jurisdiction outside the Cayman Islands, they may not be enforceable
in the Cayman Islands to the extent that performance would be illegal under the laws of that jurisdiction; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) some claims may become barred under relevant statutes of limitation or may be or become subject to defences
of set off, counterclaim, estoppel and similar defences.

4.2 To maintain the Company in good standing with the Registrar of Companies under the laws of the Cayman
Islands, annual filing fees must be paid and returns made to the Registrar of Companies within the time frame prescribed by law.

4.3 Under Cayman Islands law, the register of members (shareholders) is *prima facie* evidence of title
to shares and this register would not record a third-party interest in such shares. However, there are certain limited circumstances where
an application may be made to a Cayman Islands court for a determination on whether the register of members reflects the correct legal
position. Further, the Cayman Islands court has the power to order that the register of members maintained by a company should be rectified
where it considers that the register of members does not reflect the correct legal position. As far as we are aware, such applications
are rarely made in the Cayman Islands and for the purposes of the opinion given in paragraph 3.2, there are no circumstances or matters
of fact known to us on the date of this opinion letter which would properly form the basis for an application for an order for rectification
of the register of members of the Company, but if such an application were made in respect of the Ordinary Shares, then the validity of
such shares may be subject to re-examination by a Cayman Islands court.

4.4 In this opinion letter, the phrase "non-assessable" means, with respect to the issuance of shares,
that a shareholder shall not, in respect of the relevant shares and in the absence of a contractual arrangement, or an obligation pursuant
to the memorandum and articles of association, to the contrary, have any obligation to make further contributions to the Company's assets
(except in exceptional circumstances, such as involving fraud, the establishment of an agency relationship or an illegal or improper purpose
or other circumstances in which a court may be prepared to pierce or lift the corporate veil).

We hereby consent to the filing of this opinion letter as an exhibit to the Registration Statement and to the references to our firm under the heading "Legal Matters" in the prospectus included in the Registration Statement. In providing our consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the Rules and Regulations of the Commission thereunder.

We express no view as to the commercial terms of the Documents or whether such terms represent the intentions of the parties and make no comment with regard to warranties or representations that may be made by the Company.

The opinions in this opinion letter are strictly limited to the matters contained in the opinions section above and do not extend to any other matters. We have not been asked to review and we therefore have not reviewed any of the ancillary documents relating to the Documents and express no opinion or observation upon the terms of any such document.

This opinion letter is addressed to you and may be relied upon by you, your counsel and purchasers of Units pursuant to the Registration Statement. This opinion letter is limited to the matters detailed herein and is not to be read as an opinion with respect to any other matter.

Yours faithfully

/s/ Maples and Calder (Cayman) LLP

Rice Acquisition Corporation 3

PO Box 309, Ugland House

Grand Cayman

KY1-1104

Cayman Islands

23 September 2025

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|:---|:---|
| To: | Maples and Calder (Cayman) LLP |
|  | PO Box 309, Ugland House |
|  | Grand Cayman |
|  | KY1-1104 |
|  | Cayman Islands |

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**Rice Acquisition Corporation 3** (the "**Company**")

I, the undersigned, being a director of the Company, am aware that you are being asked to provide an opinion letter (the "**Opinion**") in relation to certain aspects of Cayman Islands law. Unless otherwise defined herein, capitalised terms used in this certificate have the respective meanings given to them in the Opinion. I hereby certify that:

1 The Memorandum and Articles remain in full force and effect and are unamended.

2 The Company has not entered into any mortgages or charges over its property or assets other than those entered in the register of mortgages and charges of the Company.

3 Each of the Resolutions were duly passed in the manner prescribed in the Memorandum and Articles (including, without limitation, with respect to the disclosure of interests (if any) by the director of the Company) and have not been amended, varied or revoked in any respect.

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| 4 | The authorised share capital of the Company is US$33,100 divided into 300,000,000 Class A ordinary shares of a par value of US$0.0001 each, 30,000,000 Class B ordinary shares of a par value of US$0.0001 each and 1,000,000 preference shares of a par value of US$0.0001 each. The issued share capital of the Company is 2,500 Class A ordinary shares and 11,500,100 Class B ordinary shares, which have been duly authorised and are validly issued as fully-paid and non-assessable. |

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| 5 | The shareholders of the Company (the "**Shareholders**") have not restricted the powers of the directors of the Company in any way. |

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6 The sole director of the Company at the date of each of the Resolutions and at the date of this certificate was and is as follows: J. Kyle Derham.

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| 7 | The minute book and corporate records of the Company as maintained at its registered office in the Cayman Islands and made available to you are complete and accurate in all material respects, and all minutes and resolutions filed therein represent a complete and accurate record of all meetings of the Shareholders and the director (or any committee thereof) of the Company (duly convened in accordance with the Memorandum and Articles) and all resolutions passed at the meetings or passed by written resolution or consent, as the case may be. |

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| 8 | Prior to, at the time of, and immediately following the approval of the transactions contemplated by the Registration Statement, the Company was, or will be, able to pay its debts as they fell, or fall, due and has entered, or will enter, into the transactions contemplated by the Registration Statement for proper value and not with an intention to defraud or wilfully defeat an obligation owed to any creditor or with a view to giving a creditor a preference. |

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| 9 | The director of the Company considers the transactions contemplated by the Registration Statement to be of commercial benefit to the Company and has acted in good faith in the best interests of the Company, and for a proper purpose of the Company, in relation to the transactions which are the subject of the Opinion. |

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| 10 | To the best of my knowledge and belief, having made due inquiry, the Company is not the subject of legal, arbitral, administrative or other proceedings in any jurisdiction and neither the directors nor Shareholders have taken any steps to have the Company struck off or placed in liquidation. Further, no steps have been taken to wind up the Company or to appoint restructuring officers or interim restructuring officers, and no step has been taken to appoint a receiver in relation to any of the Company's property or assets. |

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11 To the best of my knowledge and belief, having made due inquiry, there are no circumstances or matters of fact existing which may properly form the basis for an application for an order for rectification of the register of members of the Company.

12 The Registration Statement has been, or will be, authorised and duly executed and delivered by or on behalf of all relevant parties in accordance with all relevant laws.

13 No invitation has been made or will be made by or on behalf of the Company to the public in the Cayman Islands to subscribe for any of the Ordinary Shares.

14 The Ordinary Shares to be issued pursuant to the Registration Statement have been, or will be, duly registered, and will continue to be registered, in the Company's register of members (shareholders).

15 The Company is not a central bank, monetary authority or other sovereign entity of any state and is not a subsidiary, direct or indirect, of any sovereign entity or state.

16 There is no contractual or other prohibition or restriction (other than as arising under Cayman Islands law) binding on the Company prohibiting or restricting it from entering into and performing its obligations under the Documents.

(Signature Page follows)

I confirm that you may continue to rely on this certificate as being true and correct on the day that you issue the Opinion unless I shall have previously notified you in writing personally to the contrary.

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|:---|:---|
| Signature: | /s/ J. Kyle Derham |
| Name: | J. Kyle Derham |
| Title: | Director |

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## Exhibit 10.1

**Exhibit 10.1**

**FORM OF INVESTMENT MANAGEMENT TRUST AGREEMENT**

This Investment Management Trust Agreement (this "**Agreement**") is made effective as of [●], 2025, by and among Rice Acquisition Corporation 3 (the "**Company**"), Rice Acquisition Holdings 3 LLC ("**Opco**" and, together with the Company, the "**SPAC Parties**") and Odyssey Transfer and Trust Company, a Minnesota corporation (the "**Trustee**").

**WHEREAS**, the Company's registration statement on Form S-1 (File No. 333-289938) (the "**Registration Statement**") and prospectus (the "**Prospectus**") for the initial public offering of the Company's units (the "**Units**"), each of which consists of one of the Company's Class A ordinary shares, par value $0.0001 per share (each, an "**Ordinary Share**"), and one-sixth of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one Ordinary Share (such initial public offering hereinafter referred to as the "**Offering**"), has been declared effective as of the date hereof by the U.S. Securities and Exchange Commission;

**WHEREAS**, the SPAC Parties have entered into an Underwriting Agreement (the "**Underwriting Agreement**") with Barclays Capital Inc. and Jefferies LLC, as representatives (the "**Representatives**") of the several underwriters named therein (the "**Underwriters**");

**WHEREAS**, as described in the Prospectus, $300.0 million of the gross proceeds of the Offering and sale of the Private Placement Warrants (as defined in the Underwriting Agreement) (or $345.0 million if the Underwriters' over-allotment option is exercised in full) will be delivered to the Trustee to be deposited and held in a segregated trust account located at all times in the United States (the "**Trust Account**") for the benefit of the SPAC Parties and the holders of Ordinary Shares included in the Units issued in the Offering as hereinafter provided (the amount to be delivered to the Trustee (and any interest subsequently earned thereon) is referred to herein as the "**Property**," the shareholders for whose benefit the Trustee shall hold the Property will be referred to as the "**Public Shareholders**," and the Public Shareholders, the Company and Opco will be referred to together as the "**Beneficiaries**");

**WHEREAS**, pursuant to the Underwriting Agreement, a portion of the Property equal to a maximum of $11,625,000, or a maximum of $13,368,750 if the Underwriters' over-allotment option is exercised in full, is attributable to deferred underwriting discounts and commissions that may be payable by the SPAC Parties to the Underwriters upon the consummation of the Business Combination (as defined below) in accordance with the terms of the Underwriting Agreement (such discounts and commissions, the "**Deferred Discount**"); and

**WHEREAS**, the SPAC Parties and the Trustee desire to enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee shall hold the Property.

NOW THEREFORE, IT IS AGREED:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Agreements and Covenants of Trustee</u>. The Trustee hereby agrees and covenants to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Hold the Property in trust for the Beneficiaries in accordance with the terms of this Agreement in the Trust Account established by the Trustee located in the United States at Citibank, N.A. (or at another U.S. chartered commercial bank with consolidated assets of $100 billion or more) and at a brokerage institution selected by the Trustee that is reasonably satisfactory to the SPAC Parties;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Manage, supervise and administer the Trust Account subject to the terms and conditions set forth herein;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Promptly upon receipt of written instruction of the SPAC Parties, (i) invest and reinvest the Property, initially solely in United States government securities within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended, having a maturity of 185 days or less, or in money market funds meeting the conditions of paragraphs (d)(1), (d)(2), (d)(3) and (d)(4) of Rule 2a-7 promulgated under the Investment Company Act of 1940, as amended (or any successor rule), which invest only in direct U.S. government treasury obligations, (ii) hold the Property as uninvested cash or (iii) hold the Property in an interest or non-interest bearing bank demand deposit account or other accounts at a bank, in each case as determined by the SPAC Parties; the Trustee may not invest in any other securities or assets, it being understood that the Trust Account will earn no interest while account funds are uninvested awaiting the SPAC Parties' instructions hereunder and while invested or uninvested, the Trustee may earn bank credits or other consideration;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Collect and receive, when due, all interest or other income arising from the Property, which shall become part of the "**Property**," as such term is used herein;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Promptly notify the SPAC Parties and the Representatives of all communications received by the Trustee with respect to any Property requiring action by the SPAC Parties;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Supply any necessary information or documents as may be requested by the SPAC Parties (or their authorized agents) in connection with the SPAC Parties' preparation of tax returns relating to assets held in the Trust Account or in connection with the preparation or completion of the audit of the Company's financial statements by the Company's auditors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Participate in any plan or proceeding for protecting or enforcing any right or interest arising from the Property if, as and when instructed by the SPAC Parties to do so;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Render to the SPAC Parties monthly written statements of the activities of, and amounts in, the Trust Account reflecting all receipts and disbursements of the Trust Account;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Commence liquidation of the Trust Account only after and promptly after (x) receipt of, and only in accordance with, the terms of a letter from the SPAC Parties ("**Termination Letter**") in a form substantially similar to that attached hereto as either Exhibit A or Exhibit B, jointly signed on behalf of each of the SPAC Parties by its Chief Executive Officer or Chief Financial Officer or other authorized officer of the SPAC Parties and, in the case of Exhibit A, acknowledged and agreed to by the Representatives, and complete the liquidation of the Trust Account and distribute the Property in the Trust Account, including interest earned on funds held in the Trust Account (net of amounts withdrawn in accordance with this Agreement and net of taxes payable, and less up to $100,000 of interest that may be released to Opco to pay dissolution expenses, it being understood that the Trustee has no obligation to monitor or question the SPAC Parties' position that an allocation has been made for taxes payable), only as directed in the Termination Letter and the other documents referred to therein; <u>provided</u>, that, in the case a Termination Letter in the form of Exhibit A is received, or (y) upon the date which is the later of (A) 24 months (or 27 months if Rice Acquisition Sponsor 3 LLC (the "**Sponsor**") exercises its three-month extension option) after the closing of the Offering or such earlier liquidation date as the Company's board of directors may approve, and (B) such later date as may be approved by the Company's shareholders in accordance with the Company's amended and restated memorandum and articles of association, as it may be amended from time to time, if a Termination Letter has not been received by the Trustee prior to such date, in which case the Trust Account shall be liquidated in accordance with the procedures set forth in the Termination Letter attached as Exhibit B and the Property in the Trust Account, including interest earned on funds held in the Trust Account (net of amounts withdrawn in accordance with this Agreement and net of taxes payable, and less up to $100,000 of interest that may be released to Opco to pay dissolution expenses), shall be distributed to the Public Shareholders of record as of such date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Upon written request from the SPAC Parties, which may be given from time to time in a form substantially similar to that attached hereto as Exhibit C (a "**Tax Payment Withdrawal Instruction**"), withdraw from the Trust Account and distribute to Opco the amount of interest earned on the Property requested by the SPAC Parties to cover any franchise or income tax obligation owed by the SPAC Parties as a result of assets of the SPAC Parties or interest or other income earned on the Property, which amount shall be delivered directly to Opco by electronic funds transfer or other method of prompt payment, and Opco shall forward such payment to the relevant taxing authority; <u>provided</u>, <u>however</u>, that to the extent there is not sufficient cash in the Trust Account to pay such tax obligation, the Trustee shall liquidate such assets held in the Trust Account as shall be designated by the SPAC Parties in writing to make such distribution so long as there is no reduction in the principal amount per share initially deposited in the Trust Account; <u>provided</u>, <u>further</u>, <u>however</u>, that if the tax to be paid is a franchise tax, the written request by the SPAC Parties to make such distribution shall be accompanied by a copy of the franchise tax bill for the Company or Opco and a written statement from the principal financial officer of each of the SPAC Parties setting forth the actual amount payable (it being acknowledged and agreed that any such amount in excess of interest income earned on the Property shall not be payable from the Trust Account). The written request of the SPAC Parties referenced above shall constitute presumptive evidence that Opco is entitled to said funds, and the Trustee shall have no responsibility to look beyond said request;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Upon written request from the SPAC Parties, which may be given from time to time in a form substantially similar to that attached hereto as Exhibit D (a "**Shareholder Redemption Withdrawal Instruction**"), the Trustee shall distribute on behalf of the SPAC Parties the amount requested by the SPAC Parties to be used to redeem Ordinary Shares from Public Shareholders properly submitted in connection with a shareholder vote to approve an amendment to the Company's amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company's obligation to allow redemption in connection with the Company's initial merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (a "**Business Combination**") or to redeem 100% of the Ordinary Shares if it does not complete its initial Business Combination within 24 months (or 27 months if the Sponsor exercises its extension option) from the closing of the Offering or (B) with respect to any other provision relating to shareholders' rights or pre-initial Business Combination activity. The written request of the SPAC Parties referenced above shall constitute presumptive evidence that the SPAC Parties are entitled to distribute said funds, and the Trustee shall have no responsibility to look beyond said request; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (l) Upon written request from the SPAC Parties, which may be given from time to time in a form substantially similar to that attached hereto as <u>Exhibit E</u> (a "**<u>Working Capital Withdrawal Instruction</u>**"), withdraw from the Trust Account and distribute to Opco the amount of interest earned on the Property requested by the SPAC Parties to fund working capital requirements (a "**<u>Working Capital Withdrawal</u>**"), which amount shall be delivered directly to Opco; <u>provided</u>, <u>however</u>, that to the extent there is not sufficient cash in the Trust Account to fund such Working Capital Withdrawal, the Trustee shall liquidate such assets held in the Trust Account as shall be designated by the SPAC Parties in writing to make such distribution, so long as there is no reduction in the principal amount initially deposited in the Trust account. The written request of the SPAC Parties referenced above shall constitute presumptive evidence that the SPAC Parties are entitled to said funds, and the Trustee shall have no responsibility to look beyond said request; <u>provided, further</u>, that Working Capital Withdrawal shall not exceed five percent (5%) of the interest earned on the funds held in the Trust Account per annum;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) Not make any withdrawals or distributions from the Trust Account other than pursuant to Section 1(i), (j), (k) or (l) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Agreements and Covenants of the Company and Opco</u>. Each of the Company and Opco, jointly and severally, hereby agrees and covenants to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Give all instructions to the Trustee hereunder in writing, signed by a Chief Executive Officer or Chief Financial Officer. In addition, except with respect to its duties under <u>Section 1(i)</u>, <u>1(j)</u>, <u>1(k)</u> and <u>1(l)</u> hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the SPAC Parties shall promptly confirm such instructions in writing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject to Section 4 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all reasonable and documented expenses, including reasonable outside counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee's or its representatives' willful misconduct, gross negligence or actual fraud. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this <u>Section 2(b)</u>, it shall notify the SPAC Parties in writing of such claim (hereinafter referred to as the "**Indemnified Claim**"). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided that the Trustee shall obtain the consent of the SPAC Parties with respect to the selection of counsel, which consent shall not be unreasonably withheld; provided, further that the SPAC Parties may conduct and manage the defense against any Indemnified Claim if the Trustee does not promptly take reasonable steps to mount such a defense. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the SPAC Parties, which such consent shall not be unreasonably withheld. The SPAC Parties may participate in such action with its own counsel;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Pay the Trustee the fees set forth on Schedule A hereto, which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to Opco pursuant to <u>Section 1(i)</u> hereof. Opco shall pay the Trustee upon receipt of an invoice from the Trustee. Neither SPAC Party shall be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(c) and as may be provided in <u>Section 2(b)</u> hereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) In connection with any vote of the Company's shareholders regarding a Business Combination, provide to the Trustee an affidavit or certificate of the inspector of elections for the shareholder meeting verifying the vote of such shareholders regarding such Business Combination;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Provide the Representatives with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Unless otherwise agreed between the SPAC Parties and the Representatives, expressly provide in any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the Form of Exhibit A that the Deferred Discount (as provided in the Underwriting Agreement) be paid directly to the account or accounts directed by the Representatives;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Within four business days after the Underwriters exercise the over-allotment option (or any unexercised portion thereof) or such over-allotment option expires, provide the Trustee with a notice in writing setting forth the total amount of the Deferred Discount (as provided in the Underwriting Agreement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Limitations of Liability</u>. The Trustee shall have no responsibility or liability to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Imply obligations, perform duties, inquire or otherwise be subject to the provisions of any agreement or document other than this Agreement and that which is expressly set forth herein;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Take any action with respect to the Property, other than as directed in Section 1 hereof, and the Trustee shall have no liability to any party except for liability arising out of the Trustee's or its representatives' willful misconduct, gross negligence or actual fraud;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Institute any proceeding for the collection of any principal and income arising from, or institute, appear in or defend any proceeding of any kind with respect to, any of the Property unless and until it shall have received instructions from the SPAC Parties given as provided herein to do so and Opco shall have advanced or guaranteed to it funds sufficient to pay any reasonably incurred expenses incident thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Refund any depreciation in principal of any Property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Assume that the authority of any person designated by the Company or Opco to give instructions hereunder shall not be continuing unless provided otherwise in such designation, or unless the Company or Opco shall have delivered a written revocation of such authority to the Trustee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The other parties hereto or to anyone else for any action taken or omitted by it, or any action suffered by it to be taken or omitted, in good faith and in the Trustee's best judgment, except for the Trustee's, or its representatives', willful misconduct, gross negligence or actual fraud. The Trustee may rely conclusively and shall be protected in acting upon any order, notice, demand, certificate, opinion or advice of counsel (including counsel chosen by the Trustee with written notification to the Company, which counsel may be the Company's counsel), statement, instrument, report or other paper or document (not only as to its due execution and the validity and effectiveness of its provisions, but also as to the truth and acceptability of any information therein contained) which the Trustee believes, in good faith and with reasonable care, to be genuine and to be signed or presented by the proper person or persons. The Trustee shall not be bound by any notice or demand, or any waiver, modification, termination or rescission of this Agreement or any of the terms hereof, unless evidenced by a written instrument delivered to the Trustee, signed by the proper party or parties and, if the duties or rights of the Trustee are affected, unless it shall give its prior written consent thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Verify the accuracy of the information contained in the Registration Statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Provide any assurance that any Business Combination entered into by the Company or any other action taken by the Company is as contemplated by the Registration Statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) File information returns with respect to the Trust Account with any local, state or federal taxing authority or provide periodic written statements to the SPAC Parties documenting the taxes payable by the SPAC Parties, if any, relating to any interest income earned on the Property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Prepare, execute and file tax reports, income or other tax returns and pay any taxes with respect to any income generated by, and activities relating to, the Trust Account, regardless of whether such tax is payable by the Trust Account or the SPAC Parties, including, but not limited to, franchise and income tax obligations, except pursuant to Section 1(j) hereof; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Verify calculations, qualify or otherwise approve the SPAC Parties' written requests for distributions pursuant to <u>Sections 1(i)</u>, <u>1(j)</u>, <u>1(k)</u> and <u>1(l)</u> hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Trust Account Waiver</u>. The Trustee has no right of set-off or any right, title, interest or claim of any kind ("**Claim**") to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account that it may have now or in the future. In the event the Trustee has any Claim against the SPAC Parties under this Agreement, including, without limitation, under <u>Section 2(b)</u> or <u>Section 2(c)</u> hereof, the Trustee shall pursue such Claim solely against the SPAC Parties and their assets outside the Trust Account and not against the Property or any monies in the Trust Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Termination</u>. This Agreement shall terminate as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If the Trustee gives written notice to the SPAC Parties that it desires to resign under this Agreement, the SPAC Parties shall use their reasonable efforts to locate a successor trustee, pending which the Trustee shall continue to act in accordance with this Agreement. At such time that the SPAC Parties notify the Trustee that a successor trustee has been appointed and has agreed to become subject to the terms of this Agreement (whether following the Trustee giving notice that it desires to resign under this Agreement or the SPAC Parties otherwise electing to replace the Trustee under this Agreement), the Trustee shall transfer the management of the Trust Account to the successor trustee, including but not limited to the transfer of copies of the reports and statements relating to the Trust Account, whereupon this Agreement shall terminate; <u>provided</u>, <u>however</u>, that in the event that the SPAC Parties do not locate a successor trustee within 90 days of receipt of the resignation notice from the Trustee, the Trustee may submit an application to have the Property deposited with any court in the State of New York or with the United States District Court for the Southern District of New York and upon such deposit, the Trustee shall be immune from any liability whatsoever;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) At such time that the Trustee has completed the liquidation of the Trust Account and its obligations in accordance with the provisions of Section 1(i) hereof and distributed the Property in accordance with the provisions of the Termination Letter, this Agreement shall terminate except with respect to Section 2(b); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If the Offering is not consummated within ten business days of the date of this Agreement, or such later date agreed by the SPAC Parties and the Trustee, in which case any funds received by the Trustee from the SPAC Parties, the Sponsor, or the Underwriters, for purposes of funding the Trust Account shall be promptly returned to the SPAC Parties or Sponsor, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Miscellaneous</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company, Opco and the Trustee each acknowledge that the Trustee will follow the security procedures set forth below with respect to funds transferred from the Trust Account. The Company, Opco and the Trustee will each restrict access to confidential information relating to such security procedures to authorized persons. Each party must notify the other party immediately if it has reason to believe unauthorized persons may have obtained access to such confidential information, or of any change in its authorized personnel. In executing funds transfers, the Trustee shall rely upon all information supplied to it by the SPAC Parties, including, account names, account numbers, and all other identifying information relating to a Beneficiary, Beneficiary's bank or intermediary bank. Except for any liability arising out of the Trustee's or its representatives' gross negligence, willful misconduct or fraud, the Trustee shall not be liable for any loss, liability or out-of-pocket expense resulting from any error in the information or transmission of the funds.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflict of laws principles that would result in the application of the substantive laws of another jurisdiction. This Agreement may be executed and delivered (including executed manually or electronically via DocuSign or other similar services and delivered by portable document format (pdf) transmission) in multiple counterparts, each of which shall be deemed an original, and all of which together shall constitute the same instrument, but only one of which need to be produced.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) This Agreement contains the entire agreement and understanding of the parties hereto with respect to the subject matter hereof. Except for <u>Sections 1(i)</u>, <u>1(j),</u> <u>1(k)</u>, <u>1(l)</u> and <u>1(m)</u> hereof (which sections may not be modified, amended or deleted without the affirmative vote of two-thirds of the then outstanding Ordinary Shares and Class B ordinary shares, par value $0.0001 per share, of the Company voting together as a single class; provided that no such amendment will affect any Public Shareholder who has otherwise indicated his, her or its election to redeem his, her or its Ordinary Shares in connection with a shareholder vote sought to amend this Agreement), this Agreement or any provision hereof may only be changed, amended or modified (other than to correct a typographical error) by a writing signed by each of the parties hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The parties hereto consent to the jurisdiction and venue of any state or federal court located in the City of New York, State of New York, for purposes of resolving any disputes hereunder. AS TO ANY CLAIM, CROSS-CLAIM OR COUNTERCLAIM IN ANY WAY RELATING TO THIS AGREEMENT, EACH PARTY WAIVES THE RIGHT TO TRIAL BY JURY.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Any notice, consent or request to be given in connection with any of the terms or provisions of this Agreement shall be in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery, by electronic mail or by facsimile transmission:

if to the Trustee, to:

Odyssey Transfer and Trust Company<br> 2155 Woodlane Drive, Suite 100<br> Woodbury, MN 55125<br> Attn: Client Services<br> Email: clientsus@odysseytrust.com

if to the SPAC Parties, to:

Rice Acquisition Corporation 3

102 East Main Street, Second Story

Carnegie, Pennsylvania 15106

Email: kyle@riceinvestmentgroup.com

in each case, with copies to:

Kirkland & Ellis LLP

609 Main Street

Houston, Texas 77002

Attn: Matthew R. Pacey, P.C. and Lanchi Huynh

Email: matt.pacey@kirkland.com; lanchi.huynh@kirkland.com

and

Barclays Capital Inc.

745 Seventh Avenue

New York, NY 10019

Attn: [●]

Email: [●]

and

Jefferies LLC

520 Madison Avenue

New York, NY 10022

Attn: [●]

Email: [●]

and

Vinson & Elkins L.L.P.

1114 Sixth Avenue, 32nd Floor

New York, New York 10036

Attn: E. Ramey Layne and Stancell Haigwood

Email: rlayne@velaw.com; shaigwood@velaw.com

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Each of the Company, Opco and the Trustee hereby represents that it has the full right and power and has been duly authorized to enter into this Agreement and to perform its respective obligations as contemplated hereunder. The Trustee acknowledges and agrees that it shall not make any claims or proceed against the Trust Account, including by way of set-off, and shall not be entitled to any funds in the Trust Account under any circumstance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) This Agreement is the joint product of the Trustee and the SPAC Parties and each provision hereof has been subject to the mutual consultation, negotiation and agreement of such parties and shall not be construed for or against any party hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute one and the same instrument. Delivery of a signed counterpart of this Agreement by facsimile or electronic transmission shall constitute valid and sufficient delivery thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Each of the SPAC Parties and the Trustee hereby acknowledges and agrees that the Representatives are third-party beneficiaries of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Except as specified herein, no party to this Agreement may assign its rights or delegate its obligations hereunder to any other person or entity without the prior written consent of the other party.

[*Signature page follows*]

**IN WITNESS WHEREOF,** the parties have duly executed this Investment Management Trust Agreement as of the date first written above.

---

| | |
|:---|:---|
| Odyssey Transfer and Trust Company, as Trustee | Odyssey Transfer and Trust Company, as Trustee |
| By: |  |
|  | Name: |
|  | Title: |

---

---

| | | |
|:---|:---|:---|
| Rice Acquisition Corporation 3 | Rice Acquisition Corporation 3 | Rice Acquisition Corporation 3 |
| By: |  |  |
|  | Name: | J. Kyle Derham |
|  | Title: | Chief Executive Officer |

---

---

| | | |
|:---|:---|:---|
| Rice Acquisition Holdings 3 LLC | Rice Acquisition Holdings 3 LLC | Rice Acquisition Holdings 3 LLC |
| By: |  |  |
|  | Name: | J. Kyle Derham |
|  | Title: | Chief Executive Officer |

---

[*Signature Page to Investment Management Trust Agreement*]

**SCHEDULE A**

**Fee Schedule**

---

| |
|:---|
| &nbsp;&nbsp;Trust Agreement – one-time acceptance fee |
| &nbsp;&nbsp;Annual administrative fee |
| &nbsp;&nbsp;Disbursement/withdrawal processing fee (per payment) |
| &nbsp;&nbsp;Shareholder redemption processing fee (per redemption) |
| &nbsp;&nbsp;Liquidation of the trust |
| &nbsp;&nbsp;Asset management fee |
| &nbsp;&nbsp;Out of pocket expenses |

---

**EXHIBIT A**

**Rice Acquisition Corporation 3**

**Rice Acquisition Holdings 3 LLC**

**102 East Main Street, Second Story**

**Carnegie, Pennsylvania 15106**

**[Insert date]**

Odyssey Transfer and Trust Company<br> 2155 Woodlane Drive, Suite 100<br> Woodbury, MN 55125<br> Attn: Client Services

Re: Trust Account - Termination Letter

Dear [●]:

Pursuant to <u>Section 1(i)</u> of the Investment Management Trust Agreement by and among Rice Acquisition Corporation 3 (the "**Company**"), Rice Acquisition Holdings 3 LLC ("**Opco**") and Odyssey Transfer and Trust Company (the "**Trustee**"), dated as of [●],(the "**Trust Agreement**"), this is to advise you that the Company has entered into an agreement with [●] (the "**Target Business**") to consummate a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with the Target Business (the "**Business Combination**") on or about [**insert date**]. The Company shall notify you at least 72 hours in advance of the actual date (or such shorter time period as you may agree) of the consummation of the Business Combination ("**Consummation Date**"). Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

In accordance with the terms of the Trust Agreement, we hereby authorize you to commence to liquidate all of the assets of the Trust Account and to transfer the proceeds into the trust operating account to the effect that, on the Consummation Date, all of the funds held in the Trust Account will be immediately available for transfer to the account or accounts that Barclays Capital Inc. and Jefferies LLC, as representatives of the several underwriters named therein (the "**Representatives**") (with respect to the Deferred Discount, as provided in the Underwriting Agreement) and the SPAC Parties shall direct on the Consummation Date. It is acknowledged and agreed that while the funds are on deposit in the trust operating account awaiting distribution, neither the SPAC Parties nor the Representatives will earn any interest.

On the Consummation Date (i) counsel for the Company shall deliver to you written notification that the Business Combination has been consummated (the "**Notification**") and (ii) the SPAC Parties shall deliver to you (a) an affidavit or a certificate by the Company's Chief Executive Officer or Chief Financial Officer, which verifies that the Business Combination has been approved by a vote of the Company's shareholders, if a vote is held and (b) joint written instruction signed by the SPAC Parties and the Representatives with respect to the transfer of the funds held in the Trust Account, including payment of the Deferred Discount (as provided in the Underwriting Agreement) from the Trust Account (the "**Instruction Letter**"). You are hereby directed and authorized to transfer the funds held in the Trust Account immediately upon your receipt of the Notification and the Instruction Letter, in accordance with the terms of the Instruction Letter. In the event that certain deposits held in the Trust Account may not be liquidated by the Consummation Date without penalty, you will notify the SPAC Parties in writing of the same and the SPAC Parties shall direct you as to whether such funds should remain in the Trust Account and be distributed after the Consummation Date to Opco. Upon the distribution of all the funds, net of any payments necessary for reasonable unreimbursed expenses related to liquidating the Trust Account, your obligations under the Trust Agreement shall be terminated.

In the event that the Business Combination is not consummated on the Consummation Date described in the notice thereof and we have not notified you on or before the original Consummation Date of a new Consummation Date, then upon receipt by the Trustee of written instructions from the SPAC Parties, the funds held in the Trust Account shall be reinvested as provided in Section 1(c) of the Trust Agreement on the business day immediately following the Consummation Date as set forth in the notice as soon thereafter as possible.

---

| | |
|:---|:---|
| Very truly yours, | Very truly yours, |
| Rice Acquisition Corporation 3 | Rice Acquisition Corporation 3 |
| By: |  |
|  | Name: |
|  | Title: |

---

---

| | |
|:---|:---|
| Rice Acquisition Holdings 3 LLC | Rice Acquisition Holdings 3 LLC |
| By: |  |
|  | Name: |
|  | Title: |

---

---

| | |
|:---|:---|
| Agreed and Acknowledged by: | Agreed and Acknowledged by: |
| Barclays Capital Inc. | Barclays Capital Inc. |
| By: |  |
|  | Name: |
|  | Title: |

---

Jefferies LLC

By:  <br> Name: <br> Title:

**EXHIBIT B**

**Rice Acquisition Corporation 3**

**Rice Acquisition Holdings 3 LLC**

**102 East Main Street, Second Story**

**Carnegie, Pennsylvania 15106**

**[Insert date]**

Odyssey Transfer and Trust Company<br> 2155 Woodlane Drive, Suite 100<br> Woodbury, MN 55125<br> Attn: Client Services

Re: <u>Trust Account - Termination Letter</u>

Dear [●]:

Pursuant to <u>Section 1(i)</u> of the Investment Management Trust Agreement by and among Rice Acquisition Corporation 3 (the "**Company**"), Rice Acquisition Holdings 3 LLC ("**Opco**") and Odyssey Transfer and Trust Company (the "**Trustee**"), dated as of [●], (the "**Trust Agreement**"), this is to advise you that the Company has been unable to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with a Target Business (the "**Business Combination**") within the time frame specified in the Company's amended and restated memorandum and articles of association, as described in the Company's Prospectus relating to the Offering. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

In accordance with the terms of the Trust Agreement, we hereby authorize you to liquidate all of the assets in the Trust Account and to transfer the total proceeds into the trust operating account to await distribution to the Public Shareholders. The SPAC Parties have selected [●] as the effective date for the purpose of determining when the Public Shareholders will be entitled to receive their share of the liquidation proceeds. You agree to be the Paying Agent of record and, in your separate capacity as Paying Agent, agree to distribute said funds directly to the Company's Public Shareholders in accordance with the terms of the Trust Agreement and the amended and restated memorandum and articles of association of the Company. Upon the distribution of all the funds, your obligations under the Trust Agreement shall be terminated, except to the extent otherwise provided in Section 1(i) of the Trust Agreement.

---

| | |
|:---|:---|
| Very truly yours, | Very truly yours, |
| Rice Acquisition Corporation 3 | Rice Acquisition Corporation 3 |
| By: |  |
|  | Name: |
|  | Title: |

---

---

| | |
|:---|:---|
| Rice Acquisition Holdings 3 LLC | Rice Acquisition Holdings 3 LLC |
| By: |  |
|  | Name: |
|  | Title: |

---

**EXHIBIT C**

**Rice Acquisition Corporation 3**

**Rice Acquisition Holdings 3 LLC**

**102 East Main Street, Second Story**

**Carnegie, Pennsylvania 15106**

**[Insert date]**

Odyssey Transfer and Trust Company<br> 2155 Woodlane Drive, Suite 100<br> Woodbury, MN 55125<br> Attn: Client Services

Re: <u>Trust Account - Tax Payment Withdrawal Instruction</u>

Dear [●]:

Pursuant to <u>Section 1(j)</u> of the Investment Management Trust Agreement by and among Rice Acquisition Corporation 3 (the "**Company**"), Rice Acquisition Holdings 3 LLC ("**Opco**") and Odyssey Transfer and Trust Company (the "**Trustee**"), dated as of [●], (the "**Trust Agreement**"), the SPAC Parties hereby request that you deliver to Opco $[●] of the interest income earned on the Property as of the date hereof. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

Opco needs such funds to pay for the tax obligations as set forth on the attached tax return or tax statement. In accordance with the terms of the Trust Agreement, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to Opco's operating account at:

[WIRE INSTRUCTION INFORMATION]

---

| | |
|:---|:---|
| Very truly yours, | Very truly yours, |
| Rice Acquisition Corporation 3 | Rice Acquisition Corporation 3 |
| By: |  |
|  | Name: |
|  | Title: |

---

---

| | |
|:---|:---|
| Rice Acquisition Holdings 3 LLC | Rice Acquisition Holdings 3 LLC |
| By: |  |
|  | Name: |
|  | Title: |

---

**EXHIBIT D**

**Rice Acquisition Corporation 3**

**Rice Acquisition Holdings 3 LLC**

**102 East Main Street, Second Story**

**Carnegie, Pennsylvania 15106**

**[Insert date]**

Odyssey Transfer and Trust Company<br> 2155 Woodlane Drive, Suite 100<br> Woodbury, MN 55125<br> Attn: Client Services

Re: <u>Trust Account - Shareholder Redemption Withdrawal Instruction</u>

Dear [●]:

Pursuant to Section 1(k) of the Investment Management Trust Agreement by and among Rice Acquisition Corporation 3 (the "**Company**"), Rice Acquisition Holdings 3 LLC ("**Opco**") and Odyssey Transfer and Trust Company (the "**Trustee**"), dated as of [●], (the "**Trust Agreement**"), the SPAC Parties hereby request that you deliver to the redeeming Public Shareholders on behalf of the Company $[●] of the principal and interest income earned on the Property as of the date hereof. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

The SPAC Parties need such funds to pay the Public Shareholders who have properly elected to have their Ordinary Shares redeemed by the Company in connection with a shareholder vote to approve an amendment to the Company's amended and restated memorandum and articles of association (A) to modify the substance or timing of the SPAC Parties' obligation to allow redemption in connection with the Company's initial Business Combination or to redeem 100% of the Ordinary Shares if it does not complete its initial Business Combination within such time as is described in the Company's amended and restated memorandum and articles of association or (B) with respect to any other provision relating to shareholders' rights or pre-initial Business Combination activity. As such, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to the redeeming Public Shareholders in accordance with your customary procedures.

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| | |
|:---|:---|
| Very truly yours, | Very truly yours, |
| Rice Acquisition Corporation 3 | Rice Acquisition Corporation 3 |
| By: |  |
|  | Name: |
|  | Title: |

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| | |
|:---|:---|
| Rice Acquisition Holdings 3 LLC | Rice Acquisition Holdings 3 LLC |
| By: |  |
|  | Name: |
|  | Title: |

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**EXHIBIT E**

**Rice Acquisition Corporation 3**

**Rice Acquisition Holdings 3 LLC**

**102 East Main Street, Second Story**

**Carnegie, Pennsylvania 15106**

**[Insert date]**

Odyssey Transfer and Trust Company<br> 2155 Woodlane Drive, Suite 100<br> Woodbury, MN 55125<br> Attn: Client Services

Re: <u>Trust Account - Permitted Withdrawal Instruction</u>

Dear [●]:

Pursuant to Section 1(l) of the Investment Management Trust Agreement by and among Rice Acquisition Corporation 3 (the "**Company**"), Rice Acquisition Holdings 3 LLC ("**Opco**") and Odyssey Transfer and Trust Company (the "**Trustee**"), dated as of [●], (the "**Trust Agreement**"), the SPAC Parties hereby requests that you deliver to Opco $[●] of the interest income earned on the Property as of the date hereof. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

The SPAC Parties need such funds to fund its working capital requirements. For the current year ending December 31, 20[●], $[●] has been disbursed to date (including the amounts requested hereunder) pursuant to Section 1(l) of the Trust Agreement. In accordance with the terms of the Trust Agreement, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to Opco's operating account at:

[WIRE INSTRUCTION INFORMATION]

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| | |
|:---|:---|
| Very truly yours, | Very truly yours, |
| Rice Acquisition Corporation 3 | Rice Acquisition Corporation 3 |
| By: |  |
|  | Name: |
|  | Title: |

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| | |
|:---|:---|
| Rice Acquisition Holdings 3 LLC | Rice Acquisition Holdings 3 LLC |
| By: |  |
|  | Name: |
|  | Title: |

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