X0202 SCHEDULE 13G 0001539041 XXXXXXXX LIVE Class A 09/30/2026 0002050501 Blue Water Acquisition Corp. III G1368E106 15 E. Putnam Avenue Suite 363 Greenwich CT 06830 Rule 13d-1(b) Picton Mahoney Asset Management Z4 1400000 0 1400000 0 1400000 5.39 PN Blue Water Acquisition Corp. III 15 E. Putnam Avenue, Suite 363, Greenwich, CONNECTICUT, 06830 Picton Mahoney Asset Management 33 Yonge Street #320 CANADA N FI Investment Fund Manager 1400000 5.39 1400000 0 1400000 0 Y N Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to Investment Fund Manager is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D. Picton Mahoney Asset Management Ahsan Ahmed 10/20/2026 After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.