Cambridge Acquisition Corp.

1. As described in the Issuer's Registration Statement on Form S-1, as amended (File No. 333- 292147), under the heading "Description of Securities - Founder Shares," Class B ordinary shares will automatically convert into Class A ordinary shares concurrently with or immediately following the Issuer's initial business combination or earlier at the option of the holder, on a one-for-one basis, subject to certain adjustments.

2. These shares represent the Class B ordinary shares held by Cambridge Sponsor LLC (the "Sponsor") acquired pursuant to a subscription agreement by and between the Issuer and the Sponsor. The Class B ordinary shares include up to 1,000,000 shares that are subject to forfeiture in the event the underwriters of the Issuer's initial public offering do not exercise in full their over-allotment option as described in the Issuer's registration statement.

3. The Sponsor is the record holder of such shares. Michael Cam- Phung, as the managing member of the Sponsor, holds voting and investment discretion with respect to the ordinary shares held of record by the Sponsor. As such, Mr. Cam- Phung may be deemed to have beneficial ownership of the securities held of record by the Sponsor. Mr. Cam- Phung disclaims any beneficial ownership of the securities held by the Sponsor other than to the extent of any pecuniary interest he may have therein, directly or indirectly.