ALPXU · Alpex Acquisition Corp · Insider Trading

Hugreat Ltd., a British Virgin Islands company (the "Sponsor"), is the record holder of the securities reported herein. Ms. Ningdi Shi is the sole member and director of the Sponsor, which entitles her to voting, dispositive or investment power over the Sponsor. As such, Ms. Ningdi Shi is deemed to have voting and dispositive rights over the securities of Alpex Acquisition Corporation (the "Issuer") held by the Sponsor.

Simultaneously with the consummation of the initial public offering of the Issuer, the Sponsor acquired 187,500 private units (the "Private Units") of the Issuer in a private placement (the "Private Placement") at a purchase price of $10 per Private Unit. Each Private Unit consists of one Class A ordinary share, one redeemable warrant, and one right to receive one-fourth (1/4) of one Class A ordinary share.

Hugreat Ltd., a British Virgin Islands company (the "Sponsor"), is the record holder of the securities reported herein. Ms. Ningdi Shi is the sole member and director of the Sponsor, which entitles her to voting, dispositive or investment power over the Sponsor. As such, Ms. Ningdi Shi is deemed to have voting and dispositive rights over the securities of Alpex Acquisition Corporation (the "Issuer") held by the Sponsor.

Simultaneously with the consummation of the initial public offering of the Issuer, the Sponsor acquired 187,500 private units (the "Private Units") of the Issuer in a private placement (the "Private Placement") at a purchase price of $10 per Private Unit. Each Private Unit consists of one Class A ordinary share, one redeemable warrant, and one right to receive one-fourth (1/4) of one Class A ordinary share.

As described in the Warrant Agreement dated June 24, 2026, between the Issuer and Vstock Transfer LLC, which is filed as Exhibit 4.6 to the Issuer's Registration Statement on Form S-1 (File No. 333-294978)(the "Registration Statement"), the private warrants will become exercisable on the later of (i) 30 days after the completion of an initial business combination and (ii) one year from the date that the registration statement is declared effective, and will expire five years after the completion of the Issuer's initial business combination or earlier upon redemption or liquidation, as described in the Registration Statement.

Represents 187,500 Class A ordinary shares issuable upon exercise of 187,500 private warrants of the Issuer underlying the Private Units acquired by the Sponsor in the Private Placement. Each private warrant entitles the holder to purchase one Class A ordinary share at an exercise price of $11.50 per share.

As described in the Warrant Agreement dated June 24, 2026, between the Issuer and Vstock Transfer LLC, which is filed as Exhibit 4.6 to the Issuer's Registration Statement on Form S-1 (File No. 333-294978)(the "Registration Statement"), the private warrants will become exercisable on the later of (i) 30 days after the completion of an initial business combination and (ii) one year from the date that the registration statement is declared effective, and will expire five years after the completion of the Issuer's initial business combination or earlier upon redemption or liquidation, as described in the Registration Statement.

Hugreat Ltd., a British Virgin Islands company (the "Sponsor"), is the record holder of the securities reported herein. Ms. Ningdi Shi is the sole member and director of the Sponsor, which entitles her to voting, dispositive or investment power over the Sponsor. As such, Ms. Ningdi Shi is deemed to have voting and dispositive rights over the securities of Alpex Acquisition Corporation (the "Issuer") held by the Sponsor.

Simultaneously with the consummation of the initial public offering of the Issuer, the Sponsor acquired 187,500 private units (the "Private Units") of the Issuer in a private placement (the "Private Placement") at a purchase price of $10 per Private Unit. Each Private Unit consists of one Class A ordinary share, one redeemable warrant, and one right to receive one-fourth (1/4) of one Class A ordinary share.

As described in the Rights Agreement dated June 24, 2026, between the Issuer and VStock Transfer, LLC, which is filed as Exhibit 4.4 of the Registration Statement, each private right of the Issuer will automatically convert into one-fourth (1/4) of one Class A ordinary share of the Issuer upon the completion of the Issuer's initial business combination.

Represents 46,875 Class A ordinary shares of the Issuer issuable upon conversion of 187,500 private rights of the Issuer, each private right of the Issuer entitling the holder to receive one-fourth (1/4) of one Class A ordinary share of the Issuer, underlying the Private Units acquired by the Sponsor in the Private Placement.