NEW YORK, Nov. 14, 2025 /PRNewswire/ -- Blue Water Acquisition Corp. III ("Blue Water") today announced that, after a comprehensive review, the Company has elected to suspend participation in the ongoing CITGO acquisition process.

"The CITGO process provided valuable insight into the U.S. energy infrastructure landscape," said Joseph Hernandez, Chairman and Chief Executive Officer of Blue Water Acquisition Corp. III. "After thorough evaluation, the Company determined that current market and regulatory conditions do not align with Blue Water's immediate objectives. We thank our investment partner that committed capital to the transaction and share their confidence in pursuing high-impact opportunities that deliver long-term value to shareholders."

Blue Water remains well-capitalized and focused on advancing opportunities in multiple sectors.

About Blue Water Acquisition Corp. III

Blue Water Acquisition Corp. III (NASDAQ:BWAC) is a special purpose acquisition company focused on merging with businesses that leverage artificial intelligence, data science, and advanced technologies to reshape energy, infrastructure, and industrial markets.

Forward-Looking Statements

This press release contains forward-looking statements subject to risks and uncertainties. Actual results may differ materially. Blue Water undertakes no obligation to update these statements except as required by law.

Contact:

Steph Mercier

15 E. Putnam Avenue, Suite 363

Greenwich, CT 06830

Stephaniem@bluewaterventurepartners.net

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SOURCE Blue Water Acquisition Corp iii

BLUE WATER ACQUISITION CORP. III SUSPENDS PARTICIPATION IN CITGO ACQUISITION PROCESS