FORM10-Q (Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(D)OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2026 or ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(D)OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number:001-41101 TLGY Acquisition Corporation(Exact name of registrant as specified in its charter) Securities registered pursuant to Section 12(b) of the Act: None 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),and (2) has been subject to such filing requirements for the past 90 days. Yes☒No☐ 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 (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company or an emerging growth company. See definitions of “large accelerated filer”, “accelerated filer”, “smaller reportingcompany”, and “emerging growth company” in Rule 12b-2 of the Exchange Act Large accelerated filer☐Non-accelerated filer☒Emerging growth company☒ Accelerated filerSmaller 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 May 14, 2026, there were a total of 5,925,770 ordinary shares, comprised of 5,820,770 ClassA ordinary shares, par value$0.0001 per share, and 105,000 Class B ordinary shares, par value $0.0001 per share, of the registrant issued and outstanding. TLGY ACQUISITION CORPORATION FORM 10-Q FOR THE QUARTER ENDED March 31, 2026 TABLE OF CONTENTSPagePART I FINANCIAL INFORMATIONItem 1.Financial Statements1Condensed Balance Sheets as of March 31, 2026 (unaudited) and December 31, 20251Condensed Statements of Operations for the Three Months Ended March 31, 2026 and 2025 (unaudited)2Condensed Statements of Changes in Shareholders’ Deficit for the Three Months Ended March 31, 2026 and 2025(unaudited)3Condensed Statements of Cash Flows for the Three Months Ended March 31, 2026 and 2025 (unaudited)4Notesto unaudited Condensed Financial Statements5Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations24Item 3.Quantitative and Qualitative Disclosures about Market Risk29Item 4.Controls and Procedures29PART II OTHER INFORMATIONItem 1.Legal Proceedings30Item 1A.Risk Factors30Item 2.Unregistered Sale of Equity Securities and Use of Proceeds30Item 3.Defaults Upon Senior Securities30Item 4.Mine Safety Disclosures30Item 5.Other Information30Item 6.Exhibits31SIGNATURES32 TLGY ACQUISITION CORPORATIONCONDENSED BALANCE SHEETS March 31,2026(unaudited)December31,2025 LIABILITIES, ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION ANDSHAREHOLDERS’ DEFICITCurrent Liabilities: Accounts payable and accrued expenses$455,367$199,370Accrued offering costs5,0005,000Convertible promissory note payable – former sponsor2,912,0002,912,000Convertible promissory note payable – current sponsors3,687,3252,977,325Total Current Liabilities7,059,6926,093,695 Derivative warrant liabilities18,207,60014,793,675Deferred underwriting commission-865,000Total Liabilities25,267,29221,752,370 Class A ordinary shares subject to possible redemption; 489,887 shares (at redemption value of $13.19and $12.95 at March 31, 2026 and December 31, 2025, respectively)6,463,1226,344,916 Shareholders’ deficit:Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued or outstanding atMarch 31, 2026 and December 31, 2025——Class A ordinary shares, $0.0001 par value, 500,000,000 shares authorized, 5,344,700 issued andoutstanding (excluding 489,887 subject to possible redemption) at March 31, 2026 and December31, 2025534534Class B ordinary shares, $0.0001 par value, 50,000,000 shares authorized, 105,000 shares issued andoutstanding at March 31, 2026 and December 31, 20251111Additional paid-in capital——Accumulated deficit(25,227,376)(21,650,611)Total Shareholders’ Deficit(25,226,831)(21,650,066)LIABILITIES, ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION ANDSHAREHOLDERS’ DEFICIT$6,503,583$6,447,220 TLGY ACQUISITION CORPORATIONCONDENSED STATEMENTS OF OPERATIONS(UNAUDITED) TLGY ACQUISITION CORPORATIONCONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS’ DEFICITFOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025(UNAUDITED) TLGY