NOTE 10 — SUBSEQUENT EVENTS 

The Company evaluated subsequent events and transactions that occurred after the condensed balance sheet date up to the date that the unaudited condensed financial statements were issued. Based upon this review, other than as described below or within these unaudited condensed financial statements, the Company did not identify any subsequent events that would have required adjustment or disclosure in the unaudited condensed financial statements.

Change in Officers, Directors and Company Name

Effective as of April 6, 2026, the existing members of the board of directors (the “Board”), Carter Glatt, Michael Castaldy, Ben Coates, Jeron Smith and Cecil White, each resigned as directors of the Company and Elliot Richmond was appointed Chairman of the Board and David Bailin and Jeremy Sziklay were appointed as independent directors of the Board. David Bailin and Jeremy Sziklay each serve as members of the Audit Committee and the Compensation Committee.

On April 21, 2026, the Company held an extraordinary general meeting to approve the change of the name of the Company from “Dune Acquisition Corporation II” to “Collective Acquisition Corp.” and an amendment to the Company’s Amended and Restated Memorandum and Articles of Association to reflect the change of name of the Company (the “Name Change Proposal”). The Name Change Proposal was approved and a copy of such amendment was included in the Company’s Current Report on Form 8-K as filed with the SEC on April 27, 2026.

Waiver of Repurchase Right

On May 4, 2026, the Sponsor Member waived his Repurchase Right to repurchase the Transferred Interests from the New Sponsor.