# EDGAR Filing Document

**Accession Number:** 0001881462
**File Stem:** 0001213900-25-124094
**Filing Date:** 2025-12
**Character Count:** 25068
**Document Hash:** e375f163f6beee66879250c6a3bf3b29
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-124094.hdr.sgml**: 20251222

**ACCESSION NUMBER**: 0001213900-25-124094

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20251219

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

**ITEM INFORMATION**: Submission of Matters to a Vote of Security Holders

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251222

**DATE AS OF CHANGE**: 20251222

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Spree Acquisition Corp. 1 Ltd
- **CENTRAL INDEX KEY:** 0001881462
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-BUSINESS SERVICES, NEC [7389]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41172
- **FILM NUMBER:** 251589358

**BUSINESS ADDRESS:**
- **STREET 1:** 1922 WILDWOOD PL NE
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30324
- **BUSINESS PHONE:** 1-470-223-0227

**MAIL ADDRESS:**
- **STREET 1:** 1922 WILDWOOD PL NE
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30324

?xml version='1.0' encoding='ASCII'?

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

**FORM 8-K**

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 19, 2025

**SPREE ACQUISITION CORP. 1 LIMITED**

(Exact Name of Registrant as Specified in its Charter)

---

| | | |
|:---|:---|:---|
| **Cayman Islands** | **001-41172** | **N/A** |
| (State or other jurisdiction | (Commission File Number) | (I.R.S. Employer |
| of incorporation) |  | Identification No.) |

---

---

| | |
|:---|:---|
| **1922 Wildwood PL NE**<br>**Atlanta, GA** | **30324** |
| (Address of Principal Executive Offices) | (Zip Code) |

---

**<u>470-223-0227</u>**

Registrant's telephone number, including area code

**Not Applicable**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: None.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

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 13(a) of the Exchange Act. ☐

**Item 1.01. Entry into a Material Definitive Agreement.**

***Trust Agreement Amendment***

On December 19, 2025, upon approval by the shareholders of Spree Acquisition Corp. 1 Limited ("**Spree**" or the "**Company**") of the Trust Extension Proposal (as defined and described in Item 5.07 below), the Company entered into an amendment (the "**Trust Agreement Amendment**") to the Investment Management Trust Agreement, dated December 15, 2021, as previously amended on June 12, 2023, December 21, 2023 and December 17, 2024 (the "**Trust Agreement**"), by and between the Company and Continental Stock Transfer & Trust Company, as trustee, to extend the date by which the Company must consummate its initial business combination from December 20, 2025 to December 20, 2026, or such earlier date as may be determined by the Company's board of directors.

The foregoing description is qualified in its entirety by reference to the Trust Agreement Amendment, a copy of which is attached as Exhibit 10.1 hereto and is incorporated herein by reference.

**Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**

***Director and Officer Resignations***

Effective December 9, 2025, each of Joachim Drees, David Riemenschneider and Philipp von Hagen resigned as a director of the Company. Effective December 8, 2025, Nir Sasson resigned as Chief Operating Officer of the Company. Effective December 11, 2025, Eran Plaut resigned as a director and Chief Executive Officer of the Company. None of the resignations was the result of any dispute or disagreement with the Company or the board of directors on any matter relating to the Company's operations, policies or practices. Steven Greenfield is the Company's sole director.

***Officer Appointment***

Effective December 12, 2025, Shay Kronfeld, the Company's Chief Financial Officer, was appointed Chief Executive Officer of the Company.

Biographic information regarding Mr. Kronfeld is included under Item 10 of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, under the heading "Directors and Executive Officers," and such information is incorporated herein by reference. There are no arrangements or understandings between Mr. Kronfeld and other persons pursuant to which he was selected as Chief Executive Officer. Mr. Kronfeld does not have a family relationship with any director or executive officer of the Company. Mr. Kronfeld has not engaged in any transaction with the Company that would be reportable as a related party transaction under Item 404(a) of Regulation S-K.

**Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.**

***Extension Amendment to Amended and Restated Articles***

On December 19, 2025, the Company's shareholders approved an amendment (the "**Extension Amendment**") to the Company's Amended and Restated Memorandum and Articles of Association (the "**Amended and Restated Articles**"), which became effective upon approval and will be filed with the Registrar of Companies in the Cayman Islands.

The Extension Amendment extends the date by which the Company must consummate its initial business combination from December 20, 2025 to December 20, 2026, or such earlier date as may be determined by the Company's board of directors.

The foregoing description is qualified in its entirety by reference to the Extension Amendment, a copy of which serves as Exhibit 3.1 hereto, and which is incorporated herein by reference.

**Item 5.07. Submission of Matters to a Vote of Security Holders.**

***Extraordinary General Meeting***

On December 19, 2025, the Company held an extraordinary general meeting of the Company (the "**Meeting**"). At the Meeting, the Company's shareholders approved each of the following proposals:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) A proposal to approve, by way of special resolution, the
Extension Amendment to Spree's Amended and Restated Articles to extend the date by which Spree has to consummate a business combination
from December 20, 2025 to December 20, 2026 or such earlier date as may be determined by the Company's board of directors in its
sole discretion (the "**Articles Extension Proposal** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) A proposal to approve the Trust Agreement Amendment, which
amended the Trust Agreement, by and between the Company and Continental Stock Transfer & Trust Company to extend the date by which
the Company would be required to consummate a business combination from December 20, 2025 to December 20, 2026, or such earlier date
as may be determined by the Board in its sole discretion (the "**Trust Extension Proposal** ");

The affirmative vote of at least two-thirds (2/3) of the ordinary shares of the Company, par value $0.0001 per share ("**Ordinary Shares**"), consisting of Class A ordinary shares and one Class B ordinary share, voting as a single class, voted at the Meeting was required to approve the Articles Extension Proposal and the affirmative vote of at least 65% of the outstanding Ordinary Shares entitled to vote thereon was required to approve the Trust Extension Proposal. Each such requisite majority was achieved.

In connection with the vote on the Articles Extension Proposal, five publicly held Class A ordinary shares were redeemed, resulting in 5,969,187 Class A ordinary shares (consisting of 23,473 publicly held Class A ordinary shares, 945,715 Class A ordinary shares included in the private units sold to the Company's sponsor concurrently with the Company's initial public offering, and 4,999,999 sponsor-held founders shares that are Class A ordinary shares (which had been converted from Class B ordinary shares)), along with one Class B ordinary share, remaining outstanding.

Set forth below are the final voting results for each of the proposals:

*Articles Extension Proposal*

The Articles Extension Proposal was approved. The voting result for the Ordinary Shares was as follows:

---

| | | |
|:---|:---|:---|
| **For** | **Against** | **Abstain** |
| 5947618 | 0 | 0 |

---

*Trust Extension Proposal*

The Trust Extension Proposal was approved. The voting result for the Ordinary Shares was as follows:

---

| | | |
|:---|:---|:---|
| **For** | **Against** | **Abstain** |
| 5947618 | 0 | 0 |

---

**Item 9.01. Financial Statements and Exhibits.**

(d) Exhibits

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 3.1 | [Amendments to Articles 49.7 and 49.8 of the Amended and Restated Memorandum and Articles of Association of the Company](ea027045201ex3-1_spree1.htm) |
| 10.1 | [Amendment to Investment Management Trust Agreement, dated as of December 19, 2025](ea027045201ex10-1_spree1.htm) |
| 104 | Cover Page Interactive Date File (embedded within the Inline XBRL document) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| SPREE ACQUISITION CORP. 1 LIMITED | SPREE ACQUISITION CORP. 1 LIMITED |
| By: | /s/ Shay Kronfeld |
| Name: | Shay Kronfeld |
| Title: | Chief Executive Officer |

---

Date: December 22, 2025

## Exhibit 3.1

**Exhibit 3.1**

**AMENDMENT**

**TO THE**

**AMENDED AND RESTATED**

**MEMORANDUM AND ARTICLES OF ASSOCIATION**

**OF**

**SPREE ACQUISITION CORP. 1 LIMITED**

December 19, 2025

RESOLVED, as special resolutions, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Article 49.7 of the Articles of Association of the Company be deleted in its entirety and replaced as follows:

"In the event that the Company does not consummate a Business Combination within 60 months from the consummation of the IPO (or up to such later date if such date is extended as described in the prospectus relating to the IPO), or such later time as the Members may approve in accordance with the Articles, the Company shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) cease all operations except for the purpose of winding up;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-Share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released to the Company (less taxes payable and up to US$100,000 of interest to pay dissolution expenses), divided by the number of then public shares in issue, which redemption will completely extinguish public Members' rights as Members (including the right to receive further liquidation distributions, if any); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) as promptly as reasonably possible following such redemption, subject to the approval of the Company's remaining Members and the Directors, liquidate and dissolve, subject in each case to its obligations under Cayman Islands law to provide for claims of creditors and other requirements of Applicable Law."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Article 49.8 of the Articles of Association of the Company be deleted in its entirety and replaced as follows:

"In the event that any amendment is made to the Articles:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to modify the substance or timing of the Company's obligation to allow redemption in connection with a Business Combination or redeem 100% of the public shares if the Company does not consummate a Business Combination within 60 months from the consummation of the IPO (or up to such later date if such date is extended as described in the prospectus relating to the IPO), or such later time as the Members may approve in accordance with the Articles; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) with respect to any other provision relating to Members' rights or pre-Business Combination activity,

each holder of public shares who is not the Sponsor, a Founder, Officer or Director shall be provided with the opportunity to redeem their public shares upon the approval or effectiveness of any such amendment at a per-Share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released to the Company to pay its taxes, divided by the number of then outstanding public shares. The Company's ability to provide such redemption in this Article is subject to the Redemption Limitation."

## Exhibit 10.1

**Exhibit 10.1**

**AMENDMENT NO. 4 TO INVESTMENT MANAGEMENT TRUST AGREEMENT**

THIS AMENDMENT NO. 4 TO INVESTMENT MANAGEMENT TRUST AGREEMENT (this "***Amendment Agreement***"), dated as of December 19, 2025, is made by and between Spree Acquisition Corp. 1 Limited, a Cayman Islands exempted company (the "***Company***"), and Continental Stock Transfer & Trust Company, a New York limited purpose trust company (the "***Trustee***").

WHEREAS, the parties hereto are parties to that certain Investment Management Trust Agreement dated as of December 15, 2021, as amended on June 12, 2023, December 21, 2023 and December 17, 2024 (the "***Trust Agreement***");

WHEREAS, Section 1(i) of the Trust Agreement sets forth the terms that govern the liquidation of the Trust Account established for the benefit of the Company and the public shareholders under the circumstances described therein;

WHEREAS, Section 6(c) of the Trust Agreement provides that Section 1(i) of the Trust Agreement may only be changed, amended or modified with the affirmative vote of at least sixty five percent (65%) of the then outstanding shares of Ordinary shares and Class B ordinary shares, voting together as a single class;

WHEREAS, pursuant to an extraordinary general meeting of the Company held on the date hereof, at least sixty five percent (65%) of the then outstanding shares of Ordinary Shares and Class B Ordinary Shares, voting together as a single class, voted affirmatively to approve (i) this Amendment Agreement and (ii) a corresponding amendment to the Company's amended and restated memorandum and articles of association (the "***Articles Extension***"); and

WHEREAS, each of the Company and the Trustee desires to amend the Trust Agreement as provided herein concurrently with the effectiveness of the Articles Extension.

NOW THEREFORE, in consideration of the mutual agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties hereto agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Definitions</u>. Capitalized terms contained in this Amendment Agreement, but not specifically defined herein, shall have the meanings ascribed to such terms in the Trust Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Amendments to the Trust Agreement</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Effective as of the execution hereof, Section 1(i) of the Trust Agreement is hereby amended and restated in its entirety as follows:

"(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 Company (*"**Termination Letter***") in a form substantially similar to that attached hereto as either <u>Exhibit A</u> or <u>Exhibit B</u>, as applicable, signed on behalf of the Company by its Chief Executive Officer or Chairman of the board of directors of the Company (the "***Board***"), and in the case of <u>Exhibit A</u>, jointly signed by the Representative, and complete the liquidation of the Trust Account and distribute the Property in the Trust Account, including interest (which interest shall be net of any taxes payable and, in the case of a Termination Letter in a form substantially similar to that attached hereto as <u>Exhibit B</u>, less up to $100,000 of interest to pay dissolution expenses), only as directed in the Termination Letter and the other documents referred to therein, or (y) upon the date which is the later of (i) sixty (60) months after the closing of the Offering (or such earlier date as determined by the Board) and (ii) 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, if a Termination Letter has not been received by the Trustee prior to such date, in which case the Trust Account shall be liquidated and dissolved in accordance with the procedures set forth in the Termination Letter attached as <u>Exhibit B</u> and the Property in the Trust Account, including interest (which interest shall be net of any taxes payable and less up to $100,000 of interest to pay dissolution expenses), shall be distributed to the public shareholders of record as of such date; *provided*, *however*, that in the event the Trustee receives a Termination Letter in a form substantially similar to <u>Exhibit B</u> hereto, or if the Trustee begins to liquidate the Property because it has received no such Termination Letter by the date specified in clause (y) of this <u>Section 1(i)</u>, the Trustee shall keep the Trust Account open until twelve (12) months following the date the Property has been distributed to the public shareholders."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Effective as of the execution hereof, Exhibit B of the Trust Agreement is hereby amended and restated, in the form attached hereto, to implement a corresponding change to the foregoing amendment to Section 1(i) of the Trust Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>No Further Amendment</u>. The parties hereto agree that except as provided in this Amendment Agreement, the Trust Agreement shall continue unmodified, in full force and effect and constitute legal and binding obligations of the parties thereto in accordance with its terms. This Amendment Agreement forms an integral and inseparable part of the Trust Agreement. This Amendment Agreement is intended to be in full compliance with the requirements for an amendment to the Trust Agreement as required by Section 6(c) and Section 6(d) of the Trust Agreement, and any defect in fulfilling such requirements for an effective amendment to the Trust Agreement is hereby ratified, intentionally waived and relinquished by all parties hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>References</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All references to the "Trust Agreement" (including "hereof," "herein," "hereunder," "hereby" and "this Agreement") in the Trust Agreement shall refer to the Trust Agreement as amended by this Amendment Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All references to the "amended and restated memorandum articles of association" in the Trust Agreement shall mean the Company's amended and restated memorandum articles of association as amended by the Articles Extension.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Governing Law</u>. This Amendment Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Counterparts</u>. This Amendment 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 Amendment Agreement by electronic transmission shall constitute valid and sufficient delivery thereof.

 

*[Signature Page Follows]*

 

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

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| | | |
|:---|:---|:---|
| **CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Trustee** | **CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Trustee** | **CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Trustee** |
| By: | /s/ Francis Wolf | /s/ Francis Wolf |
|  | Name: | Francis Wolf |
|  | Title: | Vice President |
| **SPREE ACQUISITION CORP. 1 LIMITED** | **SPREE ACQUISITION CORP. 1 LIMITED** | **SPREE ACQUISITION CORP. 1 LIMITED** |
| By: | /s/ Shay Kronfeld | /s/ Shay Kronfeld |
|  | Name: | Shay Kronfeld |
|  | Title: | Chief Executive Officer |

---

[Signature Page to Amendment No. 4 to Investment Management Trust Agreement]

**EXHIBIT B**

![](ex10-1_001.jpg)

**Spree Acquisition Corp. 1 Ltd.**

**1922 Wildwood Place** 

**Atlanta, GA 30324** 

**[Insert date]**

Continental Stock Transfer & Trust Company<br> One State Street, 30th Floor<br> New York, New York 10004<br> Attn: Francis Wolf and Celeste Gonzalez

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

Dear Mr. Wolf and Ms. Gonzalez:

Pursuant to Section1(i) of the Investment Management Trust Agreement between Spree Acquisition Corp. 1 Limited (the "***Company***") and Continental Stock Transfer & Trust Company (the "***Trustee***"), dated as of December 15, 2021, and amended as of June 12, 2023, December 21, 2023, December 17, 2024 and December __, 2025 (the "***Trust Agreement***"), this is to advise you that the Company has been unable to effect a Business Combination with a Target Business 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 a segregated account held by you on behalf of the Beneficiaries to await distribution to the public shareholders. The Company has 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, net of any payments necessary for reasonable unreimbursed expenses related to liquidating the Trust Account, 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,

Spree Acquisition Corp. 1 Limited

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