Financial Performance - For the three months ended September 30, 2025, the company reported a net loss of approximately $1,300,000, primarily due to a loss from the change in fair value of derivative liabilities of approximately $1.1 million [228]. - For the nine months ended September 30, 2025, the company had a net loss of approximately $1,700,000, which included a loss from the change in fair value of derivative liabilities of approximately $1.0 million [230]. - For the three months ended September 30, 2024, the company reported a net income of approximately $326,000, driven by gains from the change in fair value of derivative liabilities of approximately $882,000 [229]. Liquidity and Capital Structure - As of September 30, 2025, the company had cash of $1,001,325 and a working capital deficit of $357,128 [223]. - The company has determined that its liquidity condition raises substantial doubt about its ability to continue as a going concern [226]. - As of September 30, 2025, 455,736 Class A ordinary shares subject to possible redemption are presented at redemption value as temporary equity [234]. Business Operations and Future Plans - The company has until November 15, 2026, to consummate an initial Business Combination, after which it must cease operations and redeem Public Shares if not completed [225]. - The company does not expect to generate operating revenues until the closing and completion of its initial Business Combination [227]. Derivative Liabilities - The company recognized 22,050,000 warrants as derivative liabilities, which are subject to re-measurement at each balance sheet date until exercised [233]. - The company has not engaged in any off-balance sheet arrangements as of September 30, 2025 [243]. - No quantitative and qualitative disclosures about market risk are required for smaller reporting companies [246].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q CHAIN BRIDGE I (Exact name of registrant as specified in its charter) | Cayman Islands | 95-1578955 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer | | incorporation or organization) | Identification Number) | | 8 The Green # 17538, Dover, DE | 19901 | (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (302) 597-7438 ☒ QUARTERLY REPORT PURSUANT TO SECTIO ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 For the transition period from to Commission File Number: 001-41047 OR CHAIN BRIDGE I ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact name of registrant as specified in its charter) | Cayman Islands | 95-1578955 | | --- | --- | | (State or othe ...

Financial Performance - For the year ended December 31, 2024, the company reported a net loss of approximately $1.4 million, with general and administrative expenses of approximately $2.1 million[331]. - For the year ended December 31, 2023, the company had a net income of approximately $7.6 million, driven by investment income of approximately $5.4 million[332]. Cash and Working Capital - As of December 31, 2024, the company had cash of $129,598 and a working capital deficit of $884,195[326]. Business Operations and Future Plans - The company has until November 15, 2025, to consummate an initial Business Combination, after which it must cease operations and redeem Public Shares if not completed[328]. - The company does not expect any adjustments to the carrying amounts of assets or liabilities if required to liquidate after November 15, 2025[329]. Financial Instruments and Liabilities - The fair value of the converted loan from CB Co-Investment was $4,600 as of December 31, 2024, included in contingently issuable private placement warrants[327]. - The company recognized 22,050,000 warrants as derivative liabilities, measured at fair value, with adjustments at each reporting period[335]. - As of December 31, 2024, 455,736 Class A ordinary shares were subject to possible redemption, presented at redemption value as temporary equity[336]. Off-Balance Sheet Arrangements - The company has not engaged in any off-balance sheet arrangements as of December 31, 2024 and 2023[346]. Regulatory Status - The company qualifies as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new or revised accounting standards[347].

Financial Performance - For the three months ended September 30, 2024, the company reported a net income of approximately $624,000, driven by investment income of approximately $148,000 and a gain from the change in fair value of derivative liabilities of approximately $882,000 [224]. - For the nine months ended September 30, 2024, the company had a net loss of approximately $1.1 million, with general and administrative expenses totaling approximately $1.5 million [226]. - The company had a net income of approximately $4.1 million for the nine months ended September 30, 2023, primarily due to investment income of approximately $4.8 million [227]. Cash and Working Capital - As of September 30, 2024, the company had cash of $428,625 and a working capital deficit of $486,351 [218]. - As of September 30, 2024, 1,006,683 Class A ordinary shares were subject to possible redemption, presented at redemption value as temporary equity [232]. Business Operations and Future Plans - The company has until November 15, 2025, to consummate an initial Business Combination, after which it must cease operations and redeem Public Shares if not completed [220]. - The company does not expect any adjustments to the carrying amounts of assets or liabilities if required to liquidate after November 15, 2025 [221]. Derivative Liabilities and Financial Instruments - The fair value of converted loans was $11,500 as of September 30, 2024, included in contingently issuable private placement warrants [219]. - The company recognized 22,050,000 warrants as derivative liabilities, which are subject to re-measurement at each balance sheet date [231]. Internal Controls and Procedures - As of September 30, 2024, the company's disclosure controls and procedures were deemed effective by the principal executive officer and principal financial officer [247]. - The management assessed the effectiveness of internal control over financial reporting as of September 30, 2024, concluding it was effective based on the 2013 framework by COSO [248]. - No changes to internal control over financial reporting occurred during the fiscal quarter ended September 30, 2024, that materially affected or are likely to affect internal controls [249]. Off-Balance Sheet Arrangements - The company has not engaged in any off-balance sheet arrangements as of September 30, 2024 [241].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | --- | |----------------------------------------------------------------------------|--------------------------------------------|------ ...

Financial Position - As of March 31, 2024, the company reported a cash balance of $5,115 and a working capital deficit of $451,186[151]. - As of March 31, 2024, 1,006,683 Class A ordinary shares were subject to possible redemption, presented at redemption value as temporary equity[161]. - The company has not had any off-balance sheet arrangements as of March 31, 2024[167]. Financial Performance - For the three months ended March 31, 2024, the company incurred a net loss of approximately $1.2 million, primarily due to a loss from the change in fair value of derivative liabilities of approximately $1.0 million[156]. - The company had a net income of approximately $2.8 million for the three months ended March 31, 2023, driven by investment income on the Trust Account of approximately $2.6 million[157]. - The company reported general and administrative expenses of approximately $510,000 for the three months ended March 31, 2024[156]. Business Operations - The company has until November 15, 2024, to complete an initial Business Combination, or it must cease operations and liquidate[153]. - The company received $25,000 from CBG and CB Co-Investment to cover certain expenses in exchange for founder shares[152]. - The fair value of the converted loan from CB Co-Investment was $57,500, included in contingently issuable private placement warrants[152]. Risk Factors - The company filed its Annual Report on Form 10-K with the SEC on March 29, 2024, detailing risk factors that could materially affect actual results[174]. - The company emphasizes the importance of reviewing risk factors to understand potential impacts on business and financial condition[174]. - The company has no ongoing legal proceedings to report[174]. Derivative Liabilities - The company recognized 22,050,000 warrants as derivative liabilities, which are subject to re-measurement at each balance sheet date until exercised[160].

Financial Position - As of December 31, 2023, the company had cash of $3.898 million and a working capital deficit of $61.449 million[405]. - As of December 31, 2023, the fair value of converted loans was $5.865 million, included in contingently issuable private placement warrants[406]. - As of December 31, 2023, 4,151,134 Class A ordinary shares were subject to possible redemption, presented at redemption value as temporary equity[415]. Income and Revenue - For the year ended December 31, 2023, the company reported a net income of approximately $7.6 million, which included investment income on the Trust Account of approximately $5.4 million[410]. - The company had a net income of approximately $10.7 million for the year ended December 31, 2022, primarily from a net gain of approximately $9.0 million from the change in fair value of derivative liabilities[411]. - The company has not generated any operating revenues since inception and will not until the closing of its initial business combination[409]. Business Operations - The company has until November 15, 2024, to consummate an initial Business Combination, after which it must cease operations if not completed[407]. Internal Control and Compliance - The company’s internal control over financial reporting was assessed as effective as of December 31, 2023[429]. - Management assessed the effectiveness of internal control over financial reporting as of December 31, 2023, and determined it to be effective[431]. - There were no changes to internal control over financial reporting during the fiscal quarter ended December 31, 2023, that materially affected or are likely to materially affect it[433]. - The Annual Report on Form 10-K does not include an attestation report from the independent registered public accounting firm due to the company's status as an emerging growth company under the JOBS Act[432]. Accounting Standards - The company is evaluating the impact of new accounting standards under the JOBS Act, which may affect its financial statements[423]. - The company recognized 22,050,000 warrants as derivative liabilities, which are subject to re-measurement at each balance sheet date[414].

Financial Performance - As of September 30, 2023, the company had a net loss of approximately $472,000, with general and administrative expenses totaling approximately $260,000 and a loss from the change in fair value of derivative liabilities of approximately $791,000 [141]. - For the nine months ended September 30, 2023, the company reported a net income of approximately $4.1 million, driven by investment income on the Trust Account of approximately $4.8 million and a gain from the change in fair value of derivative liabilities of approximately $452,000 [143]. - The company had cash of approximately $33,000 and a working capital deficit of approximately $53,000 as of September 30, 2023 [136]. - The company had an outstanding balance of $2,244,600 under Working Capital Loans as of September 30, 2023 [137]. - As of September 30, 2023, diluted net income per share is the same as basic net income per share due to anti-dilutive effects of warrants, remaining at $0.00 for both three and nine months periods [152]. Initial Public Offering - The company raised gross proceeds of $230.0 million from its Initial Public Offering, with net proceeds of $234.6 million placed in a trust account [130][135]. - The company incurred offering costs of approximately $5.7 million related to the Initial Public Offering [130]. Business Operations - The company has not yet commenced operations and will not generate operating revenues until after the completion of its initial Business Combination [129][140]. - The company has until November 15, 2023, to consummate an initial Business Combination, with the possibility of extending this period up to February 15, 2024 [138]. Financial Liabilities - As of September 30, 2023, the company had an outstanding balance of $1,094,600 under the Additional Convertible Note [133]. Equity and Shareholder Information - The company recognized changes in redemption value for Class A ordinary shares subject to possible redemption, with 4,151,134 shares presented at redemption value as temporary equity as of September 30, 2023 [149]. - The company included Class B ordinary shares in the weighted average number for diluted income calculations after the over-allotment option was exercised [153]. Accounting and Compliance - The company is evaluating the impact of ASU 2022-03 on its financial statements, which will be effective for fiscal years beginning after December 15, 2023 [154]. - The company qualifies as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new accounting standards [157]. - Management concluded that disclosure controls and procedures were effective as of September 30, 2023, ensuring timely and accurate reporting [160]. - Internal control over financial reporting was assessed as effective as of September 30, 2023, based on established frameworks [161]. - No changes to internal control over financial reporting occurred during the fiscal quarter ended September 30, 2023, indicating stability [162]. Legal and Risk Factors - The company has no legal proceedings pending, reflecting a low risk profile [163]. - Risk factors that could materially affect results are detailed in the Annual Report on Form 10-K filed on March 17, 2023 [163]. - There were no off-balance sheet arrangements as of September 30, 2023, indicating a stable financial position [156].

Financial Position - As of June 30, 2023, the company had cash of approximately $37,000 and working capital of approximately $7,000[131]. - As of June 30, 2023, the company had an outstanding balance of $894,600 under the Additional Convertible Note[128]. - The company has no off-balance sheet arrangements as of June 30, 2023, and December 31, 2022[151]. Income and Earnings - For the three months ended June 30, 2023, the company reported a net income of approximately $1.8 million, driven by a net gain from the change in fair value of derivative liabilities of approximately $790,000 and investment income on the Trust Account of approximately $1.6 million[136]. - For the six months ended June 30, 2023, the company achieved a net income of approximately $4.6 million, with a net gain from the change in fair value of derivative liabilities of approximately $1.2 million and investment income on the Trust Account of approximately $4.3 million[138]. - Diluted net income per share for the three and six months ended June 30, 2023, is the same as basic net income per share due to anti-dilutive effects of warrants[149]. Initial Public Offering - The company completed its Initial Public Offering on November 15, 2021, raising gross proceeds of $230.0 million from the sale of 23,000,000 units at $10.00 per unit[125]. - The company incurred offering costs of approximately $5.7 million related to its Initial Public Offering[125]. Business Operations - The company has not yet commenced operations and will not generate operating revenues until after the completion of its initial Business Combination[124]. - The company has until November 15, 2023, to consummate an initial Business Combination, with the possibility of extending this period up to February 15, 2024[133]. Derivative Liabilities - The company recognized 22,050,000 warrants as derivative liabilities, which will be re-measured at each balance sheet date until exercised[143]. Reporting and Compliance - The company qualifies as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new accounting standards[152]. - The company is evaluating the benefits of reduced reporting requirements under the JOBS Act, which may exempt it from certain disclosures for five years post-IPO[153]. Expenses - The company reported general and administrative expenses of approximately $529,000 for the three months ended June 30, 2023[136]. - The company included Class B ordinary shares in the weighted average number for diluted income calculations after the over-allotment option was exercised[150].