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Business Context and Reporting Period

Lafayette Digital Acquisition Corp. I (the "Company") is a Cayman Islands exempted company incorporated on August 5, 2025, operating as a blank check company (SPAC). The reporting period covers the three months ended March 31, 2026. The Company consummated its Initial Public Offering (IPO) on January 12, 2026, selling 28,750,000 Units (including the full exercise of the underwriters' over-allotment option) at $10.00 per Unit. Simultaneously, it sold 760,000 Private Units to the Sponsor and BTIG, LLC. As of March 31, 2026, the Company has not commenced any operations other than identifying a target for a Business Combination.

Key Financial Metrics

The Company generated no operating revenue. Net income was driven primarily by interest earned on investments held in the Trust Account ($2,187,424) and bank deposits ($4,055), offset by general and administrative expenses of $305,457.

Material Changes vs. Prior Period

Comparing the period ended March 31, 2026, to December 31, 2025 (pre-IPO), the Company experienced a fundamental transformation in its financial position:

• Assets: Total assets increased from $188,624 to $290,802,755, primarily due to the placement of $287,500,000 in the Trust Account following the IPO.
• Liabilities: Total liabilities increased from $221,697 to $10,245,723, driven by the recognition of a $10,062,500 deferred underwriting fee.
• Equity: Shareholders' deficit changed from $(33,073) to $(9,130,392). This increase in deficit is largely due to the accretion of Class A ordinary shares to their redemption value ($20,906,718 charge) and transaction costs allocated to equity.
• Cash Flow: The Company utilized $287,500,000 in investing activities for the Trust Account, while financing activities provided $288,814,685 from the sale of Units and Private Placement Units.

Outlook, Risks, and Management Commentary

Going Concern: Management has determined that the Company's projected future liquidity position raises substantial doubt about its ability to continue as a going concern for a period of one year from the filing date. The Company intends to complete a Business Combination before the mandatory liquidation date of January 12, 2028. If a Business Combination is not consummated by this date, the Company will liquidate and redeem Public Shares.

Liquidity: As of March 31, 2026, the Company held $846,656 in cash outside the Trust Account to fund working capital needs. The Sponsor or affiliates may provide Working Capital Loans up to $1,500,000, which may be convertible into units of the post-Business Combination entity. No such loans were outstanding as of the reporting date.

Commitments: The Company has a deferred underwriting fee of $10,062,500 payable upon the consummation of a Business Combination. Additionally, the Company pays the Sponsor up to $20,000 per month for administrative services.

Risks: The Company faces risks related to the inability to complete a Business Combination, potential dilution from warrant exercises, and general market conditions. The Sponsor's indemnification obligations regarding third-party claims against the Trust Account are not secured by reserved funds.

Investor Verification Checklist

• Trust Account Status: Verify the current balance of the Trust Account ($289,687,424) and the per-share redemption value ($10.08 as of March 31, 2026).
• Going Concern Assessment: Confirm the Company's progress in identifying a target business to avoid mandatory liquidation by January 12, 2028.
• Deferred Fees: Note the $10,062,500 deferred underwriting fee liability, which is contingent on a successful Business Combination.
• Warrant Terms: Review the exercise price ($11.50) and redemption triggers ($18.00 per share) for the 7,187,500 Public Warrants and 190,000 Private Warrants.
• Related Party Transactions: Monitor the $20,000 monthly administrative fee paid to the Sponsor and any potential Working Capital Loans.