Recent news coverage includes the announcement of the business combination with NorthStar Earth & Space Enterprises and various market-related news unrelated directly to the company’s core business.

• NorthStar Earth & Space announced plans to become publicly traded via merger with Viking Acquisition Corp I, completing the business combination and resulting in a name change to NorthStar Earth & Space Enterprises, Inc. [N8]
• No material changes to risk factors have been reported since the Annual Report on Form 10-K filed March 18, 2026. [S2]
• The company reported net income of $837,895 for the period ending June 30, 2026, with a current ratio of 0.71 indicating current liabilities exceed current assets. [S2]

The company’s successful business combination with NorthStar Earth & Space Enterprises positions it in a niche market with potential for growth in earth and space data services. The backing by institutional investors and experienced management provides a foundation for operational development. The company’s retention of earnings supports reinvestment into business expansion and technology development.

The company faces risks typical of newly combined entities, including integration challenges and execution risks. The current liquidity position shows a current ratio below 1, indicating potential short-term liquidity constraints. The absence of dividend payments may limit appeal to income-focused investors. Market and regulatory risks in the earth and space data sector could impact business performance.

The company’s moat is primarily derived from its business combination with NorthStar Earth & Space Enterprises, which operates in the specialized earth and space data sector. The combination provides access to proprietary data and technology assets. The company benefits from a structured corporate governance framework and backing by significant institutional shareholders. However, as a recently combined entity, its competitive advantages depend on successful integration and execution of NorthStar’s business strategy.

• Integration Risk: The company’s recent business combination requires effective integration of NorthStar’s operations, which may face challenges affecting performance.
• Liquidity Risk: As of June 30, 2026, the company’s current ratio is 0.71, indicating current liabilities exceed current assets, which may constrain short-term financial flexibility.
• Market and Regulatory Risks: The earth and space data sector is subject to market fluctuations and regulatory changes that could impact the company’s operations and growth prospects.

• Viking Acquisition Corp I was incorporated in the Cayman Islands on July 24, 2025, for the purpose of effecting a business combination involving Viking and one or more entities.
• The company completed a business combination with NorthStar Earth & Space Enterprises, Inc., which was incorporated under the CBCA on November 2, 2015.
• Post-combination, Viking changed its name to NorthStar Earth & Space Enterprises, Inc., and NorthStar and NewCo amalgamated to form one corporate entity with NewCo as a wholly-owned subsidiary.
• The principal executive office is located at 384 Rue Saint-Jacques, Suite 300, Montreal, Québec, Canada.
• The company’s website is https://northstar-data.com, but information there is not incorporated by reference into SEC filings.
• The company’s securities under the ticker VACI were delisted from the NYSE and the new common shares and warrants are listed on the NYSE American under symbols NSTR and NSTR.WS respectively.
• As of October 1, 2026, there were 41,322,854 New NS Common Shares issued and outstanding, with no preferred shares outstanding.
• Major shareholders include Viking Acquisition Sponsor I, LLC (13.6%), Investissement Québec (12.1%), Luxembourg Future Fund (10.4%), and others.
• Directors and executive officers collectively own approximately 26.9% of the outstanding shares.
• The company has not historically paid cash dividends and currently intends to retain future earnings to finance development and expansion, with no intention to pay dividends in the foreseeable future.
• The latest SEC 10-Q filing as of June 30, 2026, shows current assets of $789,366 and current liabilities of $1,118,835, resulting in a current ratio of 0.71 and a cash ratio of 0.
• Net income reported for the period ending June 30, 2026, was $837,895.
• Basic and diluted EPS were -$0.16 for the period ending September 30, 2025.
• There have been no material changes to risk factors since the Annual Report on Form 10-K filed March 18, 2026.
• No legal proceedings were reported as of the latest 10-Q filing.
• The company’s business overview, organizational structure, management, compensation, and related party transactions are detailed in the Proxy Statement/Prospectus incorporated by reference in the 20-F filing.