Hugo Dryland - May 9, 2023 Form 4 Insider Report for RCF Acquisition Corp. (RCFA)

Role: Director
Signature: By: /s/ Will Quish, Attorney-in-Fact
Stock symbol: RCFA
Transactions as of: May 9, 2023
Transactions value $: $0
Form type: 4
Date filed: 5/10/2023, 06:28 PM
Previous filing: Mar 10, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	RCFA	Class A Ordinary Shares	Conversion of derivative security		+30K			30K	May 9, 2023	Direct	F1

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
transaction	RCFA	Class B Ordinary Shares	Conversion of derivative security	$0	-30K	-100%	$0.00^*	0	May 9, 2023	Class A Ordinary Shares	30K		Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	In accordance with the amended and restated memorandum and articles of association of RCF Acquisition Corp. ("RCFA"), Hugo Dryland elected to convert his Class B ordinary shares of RCFA, par value $0.0001 per share (the "Class B Ordinary Shares") into Class A ordinary shares of RCFA, par value $0.0001 per share (the "Class A Ordinary Shares") on a one-for-one basis for no consideration.
F2	The Class B Ordinary Shares were (i) convertible into Class A Ordinary Shares at Mr. Dryland's election on a one-for-one basis and (ii) automatically convertible into Class A Ordinary Shares at the time of the closing of RCFA's initial business combination on a one-for-one basis, in each case subject to adjustment pursuant to certain anti-dilution rights, and had no expiration date.