X0609 4 2026-07-10 0002074850 General Fusion Group Ltd. GFUZ 0001477462 Sorrells Christopher Dixon true 6020 RUSS BAKER WAY RICHMOND A1 V7B 1B4 BRITISH COLUMBIA, CANADA true false false false 0 Common Shares 2026-07-10 4 C 0 5296667 0 A 5296667 I See Footnote Class B Common Shares 2026-07-10 4 E 0 1000000 0 D Class A Common Shares 1000000 6546667 I See Footnote Class B Common Shares 2026-07-10 4 J 0 1250000 0 D Class A Common Shares 1250000 5296667 I See Footnote Class B Common Shares 2026-07-10 4 C 0 5296667 0 D Class A Common Shares 5296667 0 I See Footnote Class A Earnout Shares 2026-07-10 4 E 0 333334 0 A Common Shares 333334 333334 I See Footnote Class B Earnout Shares 2026-07-10 4 E 0 333333 0 A Common Shares 333333 333333 I See Footnote Class C Earnout Shares 2026-07-10 4 E 0 333333 0 A Common Shares 333333 333333 I See Footnote Warrants (right to buy) 11.50 2026-07-10 4 A 0 1666667 0.90 A 2026-08-09 2033-07-10 Common Shares 1666667 1666667 I See Footnotes Following the closing of the business combination between the issuer and General Fusion Inc. (the "Closing"), Mr. Sorrells no longer has beneficial ownership of the securities owned by Spring Valley Acquisition III Sponsor, LLC (the "Sponsor"). The Sponsor is the record holder of the shares reported herein. Mr. Sorrells was the managing member of the Sponsor prior to the Closing. As described in the issuer's registration statement on Form F-4 (File No. 333-293688) (the "Registration Statement"), in connection with the Closing, the issuer continued from the Cayman Islands to British Columbia, resulting in the conversion of all Class B ordinary shares of the issuer, a Cayman Islands exempted corporation, into Class B common shares of the issuer, a British Columbia limited company (the "Continuation"). As described in the Registration Statement, in connection with the Closing, the Sponsor (i) transferred 1,250,000 Class B common shares to certain investors in the issuer's simple agreements for future equity, and (ii) forfeited 1,000,000 Class B common shares (the "Forfeiture"). In connection with the Forfeiture, the Sponsor received 333,334 Class A Earnout Shares, 333,333 Class B Earnout Shares and 333,333 Class C Earnout Shares from the issuer. As described in the Registration Statement, following the Continuation, the Class B common shares of the issuer automatically converted into Class A common shares of the issuer on a one-for-one-basis, after which the Class A common shares were re-designated as common shares of the issuer. If at any time during the period following the Closing and expiring on the fifth anniversary of the Closing (the "Earnout Period"), for any 20 trading days within a period of 30 consecutive trading days (the "Measurement Period"), the volume-weighted average price of the issuer's common shares (the "VWAP") exceeds $15.00, then the Class A Earnout Shares shall automatically convert into the issuer's common shares on a one-for-one basis. If at any time during the Earnout Period, the VWAP exceeds $20.00 during any Measurement Period, then the Class B Earnout Shares shall automatically convert into the issuer's common shares on a one-for-one basis. If at any time during the Earnout Period, the VWAP exceeds $25.00 during any Measurement Period, then the Class C Earnout Shares shall automatically convert into the issuer's common shares on a one-for-one basis. In connection with the Closing, the Sponsor elected to convert a working capital loan with a principal amount of $1,500,000 into warrants to purchase 1,666,667 of the issuer's common shares. Exhibit List: Exhibit 24-Power of Attorney /s/ Griffin D. Foster, as attorney-in-fact for Christopher Sorrells 2026-07-14