Live Oak Acquisition V's Business Segments

The registrant is a blank check company formed on November 27, 2024, in the Cayman Islands to effect a Business Combination with one or more businesses or entities. It targets companies with significant growth prospects, substantial free cash flow, and defensible market positions, focusing on enterprises valued between $500 million and $2 billion where its Management Team and Senior Advisor can add value. Its activities to date have been limited to organizational matters, its Initial Public Offering (IPO), and pursuing a Business Combination, including the Teamshares Business Combination. The company completed its IPO on March 3, 2025, raising gross proceeds of $23 million from the sale of 23 million Units and an additional $4.5 million from private placement warrants. It has not generated operating revenues and does not expect to do so until after its initial Business Combination. The registrant must complete its initial Business Combination by March 3, 2027, or face liquidation. The Teamshares Business Combination involves merging with Teamshares, a tech-enabled acquiror of businesses with EBITDA between $0.5 million and $5 million, operating subsidiaries with over $400 million in revenue across 40 industries and 30 states. The merger includes a domestication to Delaware, a two-step merger process, and issuance of merger consideration shares valued at $525 million plus interim financing. Additional earnout shares may be issued based on stock price performance over five years.

The Company operates with one reportable segment. The Chief Financial Officer, serving as the chief operating decision maker (CODM), reviews the Company's overall operating results to allocate resources and assess financial performance. Performance evaluation is based on net income (loss) and total assets, which include marketable securities held in the Trust Account and cash. The CODM also monitors interest earned on marketable securities in the Trust Account to evaluate shareholder value and determine investment strategies in compliance with the Investment Management Trust Agreement dated February 27, 2025, with Continental as trustee. General and administrative costs are reviewed to manage and forecast cash, ensuring sufficient capital is available to complete a Business Combination or similar transaction within the Combination Period, and to oversee contractual agreements, ensuring costs align with agreements and budgets. These costs represent the significant segment expenses regularly provided to the CODM. Other segment items included in net loss are reported in the consolidated statements of operations and detailed in their respective disclosures.