Oceanhawk Acquisition issues $1.55M convertible note to sponsor; converts to units at $10.00 on deal close

Oceanhawk Acquisition Corp.

• Unsecured convertible promissory note of $1,550,000 dated September 30, 2026 issued to Oceanhawk Acquisition I Sponsor, LLC; no interest accrues.
• Note automatically converts into private placement units at $10.00 per unit upon closing of the initial business combination, unless payee elects cash at least two business days prior.
• Each unit consists of one ordinary share plus one right to receive one-fourth of one ordinary share; no fractional units issued, cash paid instead.
• Repayable in full at the business combination; if none is completed, repaid only from funds outside the IPO trust account, which payee waives all claims to.
• Default events include 5-business-day payment failure, bankruptcy, cross-default and breach; certain defaults automatically accelerate the unpaid balance.