SilverBox Engaged Sponsor III LLC - Feb 27, 2023 Form 3 Insider Report for SilverBox Corp III (SBXC)

Role: 10%+ Owner
Signature: /s/ Joseph Reece, as Authorized Signatory of Boxwood Holdings II LLC, the managing member of SilverBox Sponsor III LLC
Stock symbol: SBXC
Transactions as of: Feb 27, 2023
Transactions value $: $0
Form type: 3
Date filed: 2/27/2023, 07:46 PM

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	SBXC	Class B Common Stock							Feb 27, 2023	Class A Common Stock	3.45M		Direct	F1, F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	As described in the issuer's registration statement on Form S-1 (File No. 333-269713) under the heading "Description of Securities - Founder Shares", the shares of Class B common stock will automatically convert into shares of Class A common stock at the time of the issuer's initial business combination, on a one-for-one basis, subject to adjustment for stock splits, stock dividends, reorganizations, recapitalizations and the like, and certain anti-dilution rights and has no expiration date.
F2	These shares represent Class B common stock held SilverBox Sponsor III LLC, acquired pursuant to a subscription agreement by and between SilverBox Sponsor III LLC and the issuer. The Class B common stock owned by the reporting person includes up to 450,000 shares that are subject to forfeiture in the event the underwriters of the initial public offering of the issuer's securities do not exercise in full their over-allotment option as described in the issuer's registration statement.
F3	SilverBox Sponsor III LLC is the record holder of the shares reported herein. Boxwood Holdings II LLC is the managing member of SilverBox Sponsor III LLC, Mr. Kadenacy, the issuer's Chairman and Chief Executive Officer and Mr. Reece, the issuer's Founding Partner, are each a principal of Boxwood Holdings II LLC. As such, they may be deemed to have or share beneficial ownership of the Class B common stock held directly by SilverBox Sponsor III LLC. Each such person disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interests they may have therein, directly or indirectly.