FORM 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2026 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to __________Commission File Number: 001-43310 Peace Acquisition Corp(Exact name of registrant as specified in its charter) Cayman IslandsN/A(State or other jurisdiction(IRS Employer (203) 998-5540(Issuer’s telephone number including area code) N/A(Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15 (d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required tosubmit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smallerreporting company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerginggrowth company” in Rule 12b-2 of the Exchange Act: Accelerated filer☐Smaller reporting company☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☒No☐ As of June 26, 2026, the registrant had 8,737,500 ordinary shares, $0.0001 par value, outstanding. PEACE ACQUISITION CORPNOTES TO THE FINANCIAL STATEMENTS (UNAUDITED) NOTE 1 — ORGANIZATION AND BUSINESS OPERATIONS Peace Acquisition Corp (the “Company”) was incorporated in the Cayman Islands on June 24, 2025. The Company was formed for thepurpose of effecting a merger, capital share exchange, asset acquisition, share purchase, reorganization, or similar business The Company is not limited to a particular industry or sector for purposes of consummating a Business Combination. The Company isan early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage andemerging growth companies. The Company’s sponsors are Baystar Holding Group Limited, a British Virgin Islands company, and Casper Holding LP, a Delawarelimited partnership (the “Sponsors”). As of March 31, 2026, the Company had not commenced any operations. All activity for theperiod from June 24, 2025 (inception) through March 31, 2026 relates to the Company’s formation and the Initial Public Offering(“IPO”), which is described below. The Company will not generate any operating revenues until after the completion of an initial The registration statement for the Company’s IPO became effective on May 14, 2026. On May 26, 2026, the Company consummatedthe IPO of 6,000,000 units (the “Units” and, with respect to the ordinary share included in the Units being offered, the “PublicShares”) at $10.00 per Unit (or 6,900,000 Units if the underwriter’s over-allotment option is exercised in full), and the sale of 262,500 Transaction costs amounted to $1,812,486, consisting of $1,200,000 of cash underwriting fees, and $612,486 of other offering costs.These costs were charged to additional paid-in capital or accumulated deficit to the extent additional paid-in capital is fully depleted The Company will have until 15 months from May 26, 2026, the closing of the IPO, to consummate a Business Combination (the“Combination Period”). However, if the Company has not completed a Business Combination within the Combination Period, theCompany will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more thanten business days thereafter, redeem 100% of the Public Shares (the holders of the Public Shares, including the Company’s initialshareholders and/or members of its management team to the extent they purchase Public Shares, are referred to as the “PublicShareholders”), at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, includinginterest earned and not previously released to pay taxes, if any, or for working capital requirements (less certain amount of interest to Going Concern Consideration As of March 31, 2026, the Company had $1,025 in its operating bank account, and working capital deficit of $242,349. Further, theCompany has incurred and expects to co