ASPC · ASPAC III Acquisition Corp.

Substantial doubt about the company's ability to continue as a going concern.

“Management has determined that the liquidation, should a business combination not occur, and potential subsequent dissolution, as well as liquidity concerns raise substantial doubt about the Company's ability to continue as a going concern. Therefore, management believes that it would be prudent to include in its disclosure language about the Company's ability to continue as a going concern until the earlier of the consummation of the Business Combination or the date the Company is required to liquidate. No adjustments have been made to the carrying amounts of assets and liabilities should the Company be required to liquidate after November 12, 2026. Based upon the above analysis, management determined that these conditions raise substantial doubt about the Company's ability to continue as a going concern. The unaudited condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.”