EMCGF · Embrace Change Acquisition Corp.

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

“management has determined that if the Company is unsuccessful in consummating an Initial Business Combination by August 12, 2026 (as of the date of these unaudited interim consolidated financial statements are issued, $75,000 of the required extension payments has not been deposited into the Trust Account), the requirement that the Company cease all operations, redeem the Public Shares and thereafter liquidate and dissolve raises substantial doubt about the Company's ability to continue as a going concern within one year after the date that the unaudited interim consolidated financial statements are issued.”