ALOY

Each share of Series A Convertible Preferred Stock was convertible into shares of Common Stock on a 1-for-1 basis. The Series A Convertible Preferred Stock has no expiration date and is convertible at any time in whole or in part at the election of the holder.

Each share of Series A Convertible Preferred Stock was convertible into shares of Common Stock on a 1-for-1 basis. The Series A Convertible Preferred Stock has no expiration date and is convertible at any time in whole or in part at the election of the holder.

Includes 12,500 shares underlying an option granted to Mr. Smith which are vested.

Includes 12,500 shares underlying an option granted to Mr. Smith which are vested.

Includes 12,500 shares underlying an option granted to Mr. Smith which are vested.

Includes 12,500 shares underlying an option granted to Mr. Smith which are vested.

Includes 8,000 shares of common stock owned directly by Robert Winspear, 87,000 shares of common stock owned by Winspear Investments LLC which is 100% owned by Mr. Winspear and his wife, 6,250 shares of common stock owned by ACM Winspear Investments L.P. of which Mr. Winspear is general partner, and a warrant for 25,000 shares of common stock.

The Series A Convertible Preferred Stock has no expiration date and is convertible at any time in whole or in part at the election of the holder at a conversion rate of one share of Common Stock for each share of Series A Convertible Preferred Stock.

The 1,634,999 shares of Series A Convertible Preferred Stock were sold for $1.00.

Includes 8,750 shares underlying options granted to Ms. Sulaiman which are exercisable.

All options were exercisable for ten (10) years after the initial issuance date of February 11, 2025, and vested in 25% increments on March 31, 2025, June 30, 2025, September 30, 2025 and December 31, 2025, respectively. The options were exercised on January 22, 2026.

The Reporting Person paid the exercise price on a cashless basis, resulting in the Issuer withholding of 1,545 of the option shares to pay the exercise price and issuing to the Reporting Person the remaining 3,455 shares.

Includes 25,000 shares of common stock owned directly by Robert Winspear, 87,000 shares of common stock owned by Winspear Investments LLC which is 100% owned by Mr. Winspear and his wife, and 6,250 shares of common stock owned by ACM Winspear Investments L.P. of which Mr. Winspear is general partner.

These securities are directly owned by Winspear Investments LLC, which is 100% owned by Mr. Winspear and his wife.

This transaction represents a bona fide gift pursuant to Transaction Code G of Form 4.

All options are exercisable for ten (10) years after the issuance date and vest in 25% increments on March 31, 2025, June 30, 2025, September 30, 2025 and December 31, 2025, respectively.

All options are exercisable for ten (10) years after the issuance date and vest in 25% increments on March 31, 2025, June 30, 2025, September 30, 2025 and December 31, 2025, respectively.

Includes 25,000 new shares of common stock reported on this Form 4 that are directly owned by Robert Winspear, 37,000 shares of common stock owned by Winspear Investments LLC which is 100% owned by Mr. Winspear and his wife, and 6,250 shares of common stock owned by ACM Winspear Investments L.P. of which Mr. Winspear is general partner.

All options are exercisable for ten (10) years after the issuance date and vest in 25% increments on March 31, 2025, June 30, 2025, September 30, 2025 and December 31, 2025, respectively.

Gust Kepler forfeited 10,000 shares of common stock to Blackboxstocks Inc. which was returned to treasury for no consideration.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.24 and $1.30, inclusive. The reporting person undertakes to provide to Blackboxstocks, Inc., any security holder of Blackboxstocks, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote (2) to this Form 4.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.18 and $1.29, inclusive. The reporting person undertakes to provide to Blackboxstocks, Inc., any security holder of Blackboxstocks, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote (1) to this Form 4.

Reflects distribution of shares held by Cyfeon Solutions Inc. which is controlled by Mr. Smith, to an equityholder of Cyfeon Solutions Inc.

Includes 146,668 shares distributed from Cyfeon Solutions Inc. to Mr. Smith on June 7, 2022.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.08 and $3.20, inclusive. The reporting person undertakes to provide to Blackboxstocks, Inc., any security holder of Blackboxstocks, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnotes (1) and (2) to this Form 4.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.08 and $3.20, inclusive.

These securities are directly owned by Winspear Investments LLC, which is 100% owned by Mr. Winspear and his wife.

These securities are directly owned by Winspear Investments LLC, which is 100% owned by Mr. Winspear and his wife.

Held by Balestri Family Investments LP

The Series A Convertible Preferred Stock has no expiration date, is convertible at any time in whole or in part at the election of the holder at a conversion rate of one share of Common Stock for each share of Preferred Stock.

The Series A Convertible Preferred Stock has no expiration date, is convertible at any time in whole or in part at the election of the holder at a conversion rate of one share of Common Stock for each share of Preferred Stock.

The Series A Convertible Preferred Stock has no expiration date, is convertible at any time in whole or in part at the election of the holder at a conversion rate of one share of Common Stock for each share of Preferred Stock.

The Series A Convertible Preferred Stock has no expiration date, is convertible at any time in whole or in part at the election of the holder at a conversion rate of one share of Common Stock for each share of Preferred Stock.