Here is a brief analogy for Thunder Bridge Capital Partners V:

• It's like a publicly traded **private equity firm** that's looking for one established private company to buy and take public.

Thunder Bridge Capital Partners V (TBCV) is a blank check company, also known as a Special Purpose Acquisition Company (SPAC). Its stated business purpose is to effect a business combination with one or more businesses. As per the company description, TBCV has generated no revenues to date and does not expect to generate operating revenues until it consummates its initial business combination.

Therefore, Thunder Bridge Capital Partners V (TBCV) does not have any major customers at this time, as it is not currently selling products or services to other companies or individuals.

Gary A. Simanson, President, Chief Executive Officer, Director

Gary A. Simanson is the founder and CEO of Thunder Bridge Capital. He has a history of leading blank check companies (SPACs), with Thunder Bridge Capital Partners V being his fifth such venture. His previous SPACs include Thunder Bridge Capital Partners IV, which completed a business combination with cryptocurrency marketplace Coincheck Group in 2024; Thunder Bridge Capital Partners III, which was liquidated in 2023; Thunder Bridge II, which merged with automotive chip designer indie Semiconductor in 2021; and Thunder Bridge Acquisition, which completed a business combination with vertical payments processor Repay Holdings in 2019.

Paul Wasinger, Chief Financial Officer

Paul Wasinger has served as the Chief Financial Officer for Thunder Bridge Capital Partners V. Prior to this role, he was the CFO of Artisan Bio and Allvue Systems.

Key Risks to Thunder Bridge Capital Partners V (TBCV):

1. Inability to complete an initial business combination. Thunder Bridge Capital Partners V is a blank check company formed to effect a merger or similar business combination, and it has not yet identified any potential target or engaged in substantive discussions. The company currently has no revenues and does not expect to generate any until it completes an initial business combination. Its viability is entirely contingent on successfully identifying and completing a business combination within its charter deadline, typically 24 months from IPO, or it must liquidate and redeem public shares.
2. Underperformance of the acquired business. Even if Thunder Bridge Capital Partners V successfully completes an initial business combination, there is a risk that the acquired business may not perform as anticipated, or that the expected synergies and value creation initiatives may not materialize. The company intends to acquire established businesses that may be in need of financial, operational, strategic, or managerial enhancement, and the success of these efforts is not guaranteed. The future valuation and success of the shares and warrants ultimately depend on the quality and long-term value created by the future merger.

The primary emerging threat to Thunder Bridge Capital Partners V (TBCV) is the **deterioration of the overall SPAC market environment**. This encompasses several intertwined factors:

• **Increased investor skepticism and reduced demand for SPACs:** A significant shift in investor sentiment has led to less appetite for new SPAC issuances and de-SPAC transactions, making it more challenging for TBCV to raise additional capital (e.g., PIPE financing) or secure favorable shareholder support for a proposed business combination. This also contributes to higher redemption rates, reducing the amount of cash available for the target company.
• **Heightened regulatory scrutiny:** Regulators, particularly the SEC, have increased their oversight of SPACs, leading to more stringent disclosure requirements, potential legal liabilities, and a more complex and costly de-SPAC process. This regulatory environment can deter potential target companies and add significant burdens to TBCV's ability to complete a merger.
• **Intense competition for quality targets:** Despite the overall slowdown, there remains significant competition among numerous SPACs for a limited pool of attractive private companies willing to go public via a SPAC. This can drive up acquisition valuations, making it harder for TBCV to find and secure a fundamentally sound business at an appealing price for its shareholders.

For Thunder Bridge Capital Partners V (TBCV), a blank check company with no current operating revenues, the expected drivers of future revenue growth over the next 2-3 years are intrinsically linked to the successful execution of its business combination strategy.

1. Successful Completion of an Initial Business Combination: The most fundamental driver of future revenue growth for TBCV is the successful identification and consummation of its initial business combination. As a Special Purpose Acquisition Company (SPAC), TBCV currently generates no operating revenues and its business purpose is to effect a merger, acquisition, or similar transaction with one or more operating businesses.
2. Acquisition of a High-Growth Operating Business: Future revenue growth will be driven by the inherent growth potential and market position of the business TBCV ultimately acquires. The company intends to capitalize on its management team's expertise to identify established, fundamentally sound businesses, particularly within the FinTech industry, that offer strong revenue-generating capabilities.
3. Implementation of Operational, Strategic, and Managerial Enhancements: Post-acquisition, TBCV aims to drive value and maximize revenue through the implementation of financial, operational, strategic, or managerial enhancements. The company seeks to acquire businesses that can benefit from its management team’s active management and operating experience to improve performance.
4. Leveraging Management's Sector Expertise and Global Relationships: The management team’s established global relationships and extensive sector expertise, especially in FinTech, are expected to be leveraged to accelerate the growth of the acquired business. This could include expanding market reach, fostering strategic partnerships, or guiding product and service development to enhance revenue streams.
5. Deployment of Capital for Post-Combination Operations: The capital raised from the Initial Public Offering (IPO) and held in the Trust Account is designated to fund the target acquisition and subsequent post-combination operations. This financial backing will provide the necessary resources for the acquired company to pursue growth initiatives, such as market expansion, product innovation, or increased sales and marketing efforts, thereby driving future revenue.

Share Issuance

• Thunder Bridge Capital Partners V completed its initial public offering (IPO) on August 14, 2026, issuing 30,015,000 units at $10.00 per unit for gross proceeds of $300,150,000.
• The gross proceeds from the IPO included the full exercise of the over-allotment option.

Inbound Investments

• In conjunction with the IPO, the company's sponsor and Cantor purchased 747,000 Private Placement Units for approximately $7,470,000.
• A total of $300,150,000 from the IPO proceeds was placed into a U.S. trust account.