BZAI · Blaize Holdings, Inc.

Represents the conversion of restricted stock units that vested on July 12, 2026.

Each restricted stock unit represents a contingent right to receive one share of Blaize Holdings, Inc. common stock.

These time based restricted stock units vest in eight quarterly installments, commencing April 12, 2026.

These shares were issued to Bess Ventures and Advisory, LLC ("Bess Ventures") in settlement of a certain disagreement between the Issuer and Bess Ventures related to a letter agreement dated February 15, 2024, and matters arising thereunder.

The reporting person is the managing member and owner of Bess Ventures and therefore may be deemed to share beneficial ownership over such shares.

The reported exercise of 50,000 stock options underlying 50,000 shares of the Issuer's common stock was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 11, 2025 (the "10b5-1 trading plan").

Represents securities received as part of the Issuer's business combination, in connection with that certain Agreement and Plan of Merger, dated as of December 22, 2023 and amended on April 22, 2024, October 24, 2024, and November 21, 2024 (the "Merger Agreement") by and among the Issuer (formerly BurTech Acquisition Corp.), BurTech Merger Sub, Inc., Blaize, Inc. ("Legacy Blaize"), and for the limited purposes set forth therein, Burkhan Capital LLC, pursuant to which securities of Legacy Blaize were automatically converted into the right to receive stock options of the Issuer as set forth in the Merger Agreement.

The stock option to purchase one share of the Issuer's common stock for each stock option is fully vested and exercisable.

The reported exercise of 50,000 stock options underlying 50,000 shares of the Issuer's common stock was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 11, 2025 (the "10b5-1 trading plan").

The reported sales were effected pursuant to the reporting person's Rule 10b5-1 trading plan.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.33 to $1.38, inclusive. Upon request by the SEC staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares sold at each separate price will be provided.

The reported sale of shares of the Issuer's common stock was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 12, 2025.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.33 to $1.40, inclusive. Upon request by the SEC staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares sold at each separate price will be provided.

The reported exercise of 50,000 stock options underlying 50,000 shares of the Issuer's common stock was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 11, 2025 (the "10b5-1 trading plan").

The reported exercise of 50,000 stock options underlying 50,000 shares of the Issuer's common stock was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 11, 2025 (the "10b5-1 trading plan").

Represents securities received as part of the Issuer's business combination, in connection with that certain Agreement and Plan of Merger, dated as of December 22, 2023 and amended on April 22, 2024, October 24, 2024, and November 21, 2024 (the "Merger Agreement") by and among the Issuer (formerly BurTech Acquisition Corp.), BurTech Merger Sub, Inc., Blaize, Inc. ("Legacy Blaize"), and for the limited purposes set forth therein, Burkhan Capital LLC, pursuant to which securities of Legacy Blaize were automatically converted into the right to receive stock options of the Issuer as set forth in the Merger Agreement.

The stock option to purchase one share of the Issuer's common stock for each stock option is fully vested and exercisable.

The reported sales were effected pursuant to the reporting person's Rule 10b5-1 trading plan.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.65 to $1.70, inclusive. Upon request by the SEC staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares sold at each separate price will be provided.

The restricted stock units vest 25% on June 1, 2026, and quarterly thereafter.

The reported sale of shares of the Issuer's common stock was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 12, 2025.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.71 to $1.92, inclusive. Upon request by the SEC staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares sold at each separate price will be provided.

Represents the conversion of restricted stock units that vested on June 1, 2026.

Each restricted stock unit represents a contingent right to receive one share of Blaize Holdings, Inc. common stock.

The reported sales were effected pursuant to the reporting person's Rule 10b5-1 trading plan.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.78 to $1.88, inclusive. Upon request by the SEC staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares sold at each separate price will be provided.

The reported exercise of 50,000 stock options underlying 50,000 shares of the Issuer's common stock was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 11, 2025 (the "10b5-1 trading plan").

The reported exercise of 50,000 stock options underlying 50,000 shares of the Issuer's common stock was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 11, 2025 (the "10b5-1 trading plan").

Represents securities received as part of the Issuer's business combination, in connection with that certain Agreement and Plan of Merger, dated as of December 22, 2023 and amended on April 22, 2024, October 24, 2024, and November 21, 2024 (the "Merger Agreement") by and among the Issuer (formerly BurTech Acquisition Corp.), BurTech Merger Sub, Inc., Blaize, Inc. ("Legacy Blaize"), and for the limited purposes set forth therein, Burkhan Capital LLC, pursuant to which securities of Legacy Blaize were automatically converted into the right to receive stock options of the Issuer as set forth in the Merger Agreement.

The stock option to purchase one share of the Issuer's common stock for each stock option is fully vested and exercisable.

Represents shares of Issuer's common stock acquired by Bess Ventures and Advisory, LLC in good faith in connection with a debt previously contracted. Accordingly, such acquisition is exempt from Section 16(b) of the Securities Exchange Act of 1934, as amended.

In the reporting person's prior Form 4 filings, earnout shares and restricted stock units had been reported in Table I. These holdings have been moved to Table II, and there have been no transactions in such holdings since the reporting person's last Form 4 filing.

The reporting person is the managing member and owner of Bess Ventures and Advisory, LLC and therefore may be deemed to share beneficial ownership over such shares.

This transaction is exempt from Section 16(b) of the Securities Exchange Act of 1934, as amended, pursuant to the terms of the statute, because the shares were "acquired in good faith in connection with a debt previously contracted."

The price reported on Column 4 is the price at market open on May 8, 2026, reflecting the portion of the loan balance being satisfied by these shares.

The reported sale of shares of the Issuer's common stock was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 12, 2025.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.89 to $2.06, inclusive. Upon request by the SEC staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares sold at each separate price will be provided.

The reported exercise of 505,060 stock options underlying 505,060 shares of the Issuer's common stock was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 12, 2025 (the "10b5-1 trading plan").

Represents securities received as part of the Issuer's business combination, in connection with that certain Agreement and Plan of Merger, dated as of December 22, 2023 and amended on April 22, 2024, October 24, 2024, and November 21, 2024 (the "Merger Agreement") by and among the Issuer (formerly BurTech Acquisition Corp.), BurTech Merger Sub, Inc., Blaize, Inc. ("Legacy Blaize"), and for the limited purposes set forth therein, Burkhan Capital LLC, pursuant to which securities of Legacy Blaize were automatically converted into the right to receive stock options of the Issuer as set forth in the Merger Agreement.

The stock option vests in 36 substantially equal monthly installments beginning on October 19, 2023.

The reported sales were effected pursuant to the reporting person's Rule 10b5-1 trading plan.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.19 to $2.38, inclusive. Upon request by the SEC staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares sold at each separate price will be provided.

The reported exercise of 505,060 stock options underlying 505,060 shares of the Issuer's common stock was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 12, 2025 (the "10b5-1 trading plan").

In the reporting person's prior Form 4 filings, earnout shares and unvested restricted stock units had been reported in Table I. These holdings have been moved to Table II, and there have been no transactions in such holdings since the reporting person's last Form 4 filing.

On April 20, 2026, the reporting person filed a Form 4 (the "Original Form 4") which inadvertently reported that the reporting person exercised a stock option and sold the underlying stock. Instead, as reported in this amendment (this "Amendment"), the reporting person did not exercise the stock option and in fact sold the same number of shares of stock as originally reported in the Original Form 4 but from his Table I holdings. The reporting person's other holdings have been restated for convenience, and there have been no transactions in such holdings since the Original Form 4. The order of the footnotes in this Explanation of Responses section have been conformed to the above changes.

The reported sales were effected pursuant to the reporting person's Rule 10b5-1 trading plan adopted by the reporting person on December 12, 2025.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.50 to $2.63, inclusive. Upon request by the SEC staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares sold at each separate price will be provided.

In the reporting person's prior Form 4 filings, earnout shares and unvested restricted stock units had been reported in Table I. These holdings have been moved to Table II, and there have been no transactions in such holdings since the reporting person's last Form 4 filing.

Represents the conversion of restricted stock units that vested on April 12, 2026.

Each restricted stock unit represents a contingent right to receive one share of Blaize Holdings, Inc. common stock.

The restricted stock units vest on a quarterly basis in eight equal installments commencing on April 12, 2026.

The reported sales were effected pursuant to the reporting person's Rule 10b5-1 trading plan.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.72 to $1.79, inclusive. Upon request by the SEC staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares sold at each separate price will be provided.

The reported exercise of 50,000 stock options underlying 50,000 shares of the Issuer's common stock was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 11, 2025 (the "10b5-1 trading plan").

Represents securities received as part of the Issuer's business combination, in connection with that certain Agreement and Plan of Merger, dated as of December 22, 2023 and amended on April 22, 2024, October 24, 2024, and November 21, 2024 (the "Merger Agreement") by and among the Issuer (formerly BurTech Acquisition Corp.), BurTech Merger Sub, Inc., Blaize, Inc. ("Legacy Blaize"), and for the limited purposes set forth therein, Burkhan Capital LLC, pursuant to which securities of Legacy Blaize were automatically converted into the right to receive stock options of the Issuer as set forth in the Merger Agreement.

The stock option to purchase one share of the Issuer's common stock for each stock option is fully vested and exercisable.

The reported exercise of 50,000 stock options underlying 50,000 shares of the Issuer's common stock was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 11, 2025 (the "10b5-1 trading plan").

In the reporting person's prior Form 4 filings, earnout shares and unvested restricted stock units had been reported in Table I. These holdings have been moved to Table II, and there have been no transactions in such holdings since the reporting person's last Form 4 filing.

The securities were distributed for no consideration.

Consists of 11,737,254 shares of Common Stock of the Issuer held by Ava Private Markets S.a r.l. ("Ava Private Markets") and affiliates. Ava Investors S.A. is the investment manager of Ava Private Markets and exercises investment power with respect to the securities held by Ava Private Markets. Raphaelle Mahieu and Benjamin Hazan may be deemed to exercise investment power with respect to the securities. Each of the persons above disclaims any beneficial ownership of the securities, except to the extent of any pecuniary interest therein. Excludes securities beneficially owned by Barthelemy Debray. Mr. Debray no longer serves as a director or manager of Ava Investors S.A. or Ava Private Markets S.a r.l., respectively, and has ceased to be a Reporting Person for purposes of this Form 4.

Represents an award of restricted stock units granted at the Issuer's 2025 Annual Meeting under the Non-Employee Director Compensation Program, which vest at the ealier of one year or the Issuer's next Annual Meeting.

Includes 90,999 Earn-Out Shares, each of which represents a contingent right to receive one share of Common Stock if the trading price of the Issuer's Common Stock exceeds certain thresholds.

Represents an award of restricted stock units granted at the Issuer's 2025 Annual Meeting under the Non-Employee Director Compensation Program, which vest at the ealier of one year or the Issuer's next Annual Meeting.

Represents an award of restricted stock units granted at the Issuer's 2025 Annual Meeting under the Non-Employee Director Compensation Program, which vest at the ealier of one year or the Issuer's next Annual Meeting.

Includes 91,327 Earn-Out Shares, each of which represents a contingnt right to receive one share of Common Stock if the trading price of the Issuer's Common Stock exceeds certain thresholds.

Represents an award of restricted stock units granted at the Issuer's 2025 Annual Meeting under the Non-Employee Director Compensation Program, which vest at the ealier of one year or the Issuer's next Annual Meeting.

Represents an award of restricted stock units granted at the Issuer's 2025 Annual Meeting under the Non-Employee Director Compensation Program, which vest at the ealier of one year or the Issuer's next Annual Meeting.

Includes 90,999 Earn-Out Shares, each of which represents a contingent right to receive one share of Common Stock if the trading price of the Issuer's Common Stock exceeds certain thresholds.

The stock option vests in 8 substantially equal quarterly installments beginning on December 1, 2025.

Represents an award of restricted stock units which vest in accordance with the applicable grant agreement.

Represents an award of restricted stock units which vest in accordance with the applicable grant agreement.

Includes 47,341 Earn-Out Shares, each of which represents a contingent right to receive one share of Common Stock if the trading price of the Issuer's Common Stock exceeds certain thresholds.

Represents an award of restricted stock units which vest in accordance with the applicable grant agreement.

Includes 91,327 Earn-Out Shares, each of which represents a contingent right to receive one share of Common Stock if the trading price of the Issuer's Common Stock exceeds certain thresholds.

Represents an award of restricted stock units which vest in accordance with the applicable grant agreement.

Includes 90,999 Earn-Out Shares, each of which represents a contingent right to receive one share of Common Stock if the trading price of the Issuer's Common Stock exceeds certain thresholds.

Represents an award of restricted stock units which vest in accordance with the applicable grant agreement.

Includes 90,999 Earn-Out Shares, each of which represents a contingent right to receive one share of Common Stock if the trading price of the Issuer's Common Stock exceeds certain thresholds.

Represents an award of restricted stock units which vest in accordance with the applicable grant agreement.

Represents an award of restricted stock units which vest in accordance with the applicable grant agreement.

Includes 212,155 Earn-Out Shares, each of which represents a contingent right to receive one share of Common Stock if the trading price of the Issuer's Common Stock exceeds certain thresholds.

Represents an award of restricted stock units which vest in accordance with the applicable grant agreement.

Includes 1,371,303 Earn-Out Shares, each of which represents a contingent right to receive one share of Common Stock if the trading price of the Issuer's Common Stock exceeds certain thresholds.

Includes 1,371,303 Earn-Out Shares, each of which represents a contingent right to receive one share of Common Stock if the trading price of the Issuer's Common Stock exceeds certain thresholds.

The amount in column 5 reflects the number of shares of Common Stock beneficially owned as of the date hereof.

Represents securities received as part of the Issuer's business combination, in connection with that certain Agreement and Plan of Merger, dated as of December 22, 2023 and amended on April 22, 2024, October 24, 2024 and November 21, 2024 (the "Merger Agreement"), by and between the Issuer (formerly BurTech Acquisition Corp.), BurTech Merger Sub Inc., Blaize, Inc. ("Legacy Blaize") and for the limited purposes set forth therein, Burkhan Capital LLC, pursuant to which securities of Legacy Blaize were automatically converted into the right to receive stock options of the Issuer as set forth in the Merger Agreement.

The stock option vests as to one third of the underlying shares on December 1, 2025, and thereafter in 24 equal monthly installments

Represents securities received as part of the Issuer's business combination, in connection with that certain Agreement and Plan of Merger, dated as of December 22, 2023 and amended on April 22, 2024, October 24, 2024 and November 21, 2024 (the "Merger Agreement"), by and between the Issuer (formerly BurTech Acquisition Corp.), BurTech Merger Sub Inc., Blaize, Inc. ("Legacy Blaize") and for the limited purposes set forth therein, Burkhan Capital LLC, pursuant to which securities of Legacy Blaize were automatically converted into the right to receive stock options of the Issuer as set forth in the Merger Agreement.

The stock option is fully vested and exercisable.