X0202 SCHEDULE 13G 0001430885 XXXXXXXX LIVE Class B Subordinate Voting Shares, without par value 09/20/2026 0002097163 Xanadu Quantum Technologies Limited 98390R102 777 Bay Street Suite 2400 Toronto A6 M5G 2C8 Rule 13d-1(c) BDC Capital Inc. Z4 6657508.00 0.00 6657508.00 0.00 6657508.00 N 4.0 CO 1. Prior to September 21, 2026, BDC Capital Inc. ("BDC") held 6,658,408 Class A Multiple Voting Shares ("Class A Shares") of Xanadu Quantum Technologies Limited (the "Company"), each of which is convertible at the holder's option into one Class B Subordinate Voting Share ("Class B Share"). BDC's conversion rights are subject to a Blocker Notice limiting conversion to 9.99% of outstanding Class B Shares. 2. On September 21, 2026, BDC converted 6,177,060 Class A Shares into Class B Shares. Between September 22, 2026 and the date of this filing, BDC sold 900 Class B Shares on the open market. 3. The percentage of beneficial ownership reported herein is based on publicly available information regarding the number of issued and outstanding Class B Shares as of September 22, 2026. 4. BDC Capital Inc. is a subsidiary of the Business Development Bank of Canada, a Crown corporation whose sole shareholder is the Government of Canada. Xanadu Quantum Technologies Limited 777 Bay Street Suite 2400, Toronto, A6 M5G 2C8 BDC Capital Inc. ("BDC") is a subsidiary of the Business Development Bank of Canada, a Crown corporation whose sole shareholder is the Government of Canada. 5 Place Ville Marie, Suite 100, Montreal, Quebec H3B 5E7, Canada Canada Y 6,657,508, comprised of 6,176,160 Class B Subordinate Voting Shares held directly plus 481,348 Class B Subordinate Voting Shares issuable upon conversion of Class A Multiple Voting Shares within 60 days pursuant to Rule 13d-3(d)(1)(i), subject to the Blocker Notice. 4.0 6,657,508 0 6,657,508 0 N Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. Not Applicable BDC Capital Inc. /s/ Lisa To 09/25/2026