<div id="readability-page-1">Execution phase advances quantum-enabled approaches designed to improve energy grid efficiency, resilience, and operational scale CHICAGO--(BUSINESS WIRE)-- Infleqtion, a global leader in quantum computing and quantum sensing, today announced it has executed its contract with the U.S. Department of Energy’s Advanced Research Projects Agency-Energy (ARPA-E), formally launching development under its $6.2 million Enhancing Neutral-atom Computers for Optimizing Delivery of Energy (ENCODE) project. This program, which includes key collaborations with Argonne National Laboratory, the National Laboratory of the Rockies (NRL), EPRI, and ComEd, is the first quantum project for the department focusing on advancing the application of quantum-enhanced computational methods to revolutionize energy grid optimization. This announcement follows Infleqtion’s plans to go public through a merger with Churchill Capital Corp X ( CCCX ) . Expanding Energy Capability As electricity demand rises due to rapid electrification and power-intensive AI computing, grid operators face optimization challenges that exceed the capacity of classical systems. While industry-standard solvers like Gurobi and CPLEX have delivered billions of dollars in annual value by optimizing these systems, they are reaching their computational limits. The ENCODE program addresses this gap by applying quantum-enhanced logic to provide the precision and speed necessary for a secure and stable energy future. Infleqtion’s unique quantum solutions have the potential to improve energy affordability and increase grid stability by enabling more efficient dispatch, transmission, and resource optimization across increasingly complex power systems. The Full Stack Advantage Achieving quantum progress in the energy sector requires co-design across the full computing stack. Infleqtion’s end-to-end capabilities, from our neutral-atom processors to the Superstaq optimization layer, uniquely position us to accelerate development in grid optimization. Our platform offers a dual benefit for critical infrastructure: it is built on a foundation of large-scale neutral-atom arrays, having already demonstrated 1,600 qubit array, and operates on kilowatts of energy. This scalability is further validated by our recent achievement of 12 logical qubits with error detection, paving the way for fault-tolerant computing without the megawatt-scale demands of traditional supercomputers. &#34;As the surge in power-intensive computing and new demands on domestic energy production push our infrastructure to its limits, securing the grid has become a matter of national capability,&#34; said Matt Kinsella, CEO of Infleqtion. &#34;We are grateful for ARPA-E’s leadership in prioritizing the use of quantum computing to solve the hyper-complex optimization problems facing modern power networks, ensuring a resilient national system that is truly equipped for the next decade of demand.&#34; A Trusted Partner in National Security This contract execution marks another milestone in Infleqtion’s 19-year history as a trusted supplier to the U.S. government and its allies. With hundreds of successful contracts for government and commercial entities, Infleqtion’s deep-rooted experience ensures its solutions are grounded in technical stability and a proven track record of advancing quantum technology for emerging and critical infrastructure. Strategic Collaboration for Critical Infrastructure Beyond this specific contract, Infleqtion’s work across the Department of Energy laboratory system includes ongoing efforts with Argonne National Laboratory and the National Laboratory of the Rockies (NLR), including this recently awarded ARPA-E initiative. Together, these partnerships underscore Infleqtion’s broad commitment to supporting national labs with scalable quantum software and technologies that accelerate both foundational research and real-world impact. About Infleqtion Infleqtion is a global leader in quantum sensing and quantum computing, powered by neutral-atom technology. We design and build quantum computers, precision sensors, and quantum software for governments, enterprises, and research institutions. Our commercial portfolio includes quantum computers as well as quantum Radio Frequency (QRF) systems, quantum clocks, and inertial navigation solutions. Infleqtion is the partner of choice for governments and commercial customers seeking cutting-edge quantum capabilities. Infleqtion announced in September 2025 it plans to go public via a merger with Churchill Capital Corp X ( CCCX ) . For more information, visit Infleqtion.com or follow Infleqtion on LinkedIn, YouTube, and X. About Churchill Capital Corp X ( CCCX ) Churchill X is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. It may pursue an initial business combination target in any business or industry. Additional Information About the Proposed Transaction and Where to Find It The proposed transaction will be submitted to shareholders of Churchill X for their consideration. Churchill X has filed a registration statement on Form S-4 with the SEC, which was declared effective by the SEC on January 23, 2026, and which includes a definitive proxy statement/prospectus. The definitive proxy statement/prospectus and other relevant documents have been mailed to Infleqtion stockholders and Churchill X shareholders as of January 13, 2026, the record date established for voting on the proposed transaction, in connection with Churchill X’s solicitation of proxies for the vote by Churchill X’s shareholders in connection with the proposed transaction and other matters described in the Registration Statement, as well as the prospectus relating to the offer of the securities to be issued to Infleqtion stockholders in connection with the completion of the proposed transaction. Before making any voting or investment decision, Churchill X shareholders, Infleqtion stockholders and other interested persons are advised to read the definitive proxy statement/prospectus, as well as other documents filed with the SEC by Churchill X in connection with the proposed transaction, as these documents contain important information about Churchill X, Infleqtion and the proposed transaction. Shareholders may obtain a copy of the definitive proxy statement/prospectus, as well as other documents filed by Churchill X with the SEC, without charge, at the SEC’s website located at www.sec.gov or by directing a written request to Churchill Capital Corp X ( CCCX ), 640 Fifth Avenue, 12th Floor, New York, NY 10019. Forward-Looking Statements This press release includes “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. The company has based these forward-looking statements on current expectations and projections about future events. These statements include: projections of market opportunity and market share; estimates of customer adoption rates and usage patterns; projections regarding the company’s ability to commercialize new products and technologies; projections of development and commercialization costs and timelines; expectations regarding the company’s ability to execute its business model and the expected financial benefits of such model; expectations regarding the company’s ability to attract, retain and expand its customer base; the company’s deployment of proceeds from capital raising transactions; the company’s expectations concerning relationships with strategic partners, suppliers, governments, state-funded entities, regulatory bodies and other third parties; the company’s ability to maintain, protect and enhance its intellectual property; future ventures or investments in companies, products, services or technologies; development of favorable regulations affecting the company’s markets; the potential benefits of the proposed transaction and expectations related to its terms and timing; and the potential for the company to increase in value. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions, many of which are beyond the control of the company and Churchill X. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that may cause the company’s or Churchill X’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such statements. Such risks and uncertainties include: that the company is pursuing an emerging technology, faces significant technical challenges and may not achieve commercialization or market acceptance; the company’s historical net losses and limited operating history; the company’s expectations regarding future financial performance, capital requirements and unit economics; the company’s use and reporting of business and operational metrics; the company’s competitive landscape; the company’s dependence on members of its senior management and its ability to attract and retain qualified personnel; the company’s concentration of revenue in contracts with government or state-funded entities; the potential need for additional future financing; the company’s ability to manage growth and expand its operations; potential future acquisitions or investments in companies, products, services or technologies; the company’s reliance on strategic partners and other third parties; the company’s ability to maintain, protect and defend its intellectual property rights; risks associated with privacy, data protection or cybersecurity incidents and related regulations; the use, rate of adoption and regulation of artificial intelligence and machine learning; uncertainty or changes with respect to laws and regulations; uncertainty or changes with respect to taxes, trade conditions and the macroeconomic environment; the combined company’s ability to maintain internal control over financial reporting and operate a public company; the possibility that required regulatory approvals for the proposed transaction are delayed or are not obtained, which could adversely affect the combined company or the expected benefits of the proposed transaction; the risk that shareholders of Churchill X could elect to have their shares redeemed, leaving the combined company with insufficient cash to execute its business plans; the occurrence of any event, change or other circumstance that could give rise to the termination of the business combination agreement; the outcome of any legal proceedings or government investigations that may be commenced against the company or Churchill X; failure to realize the anticipated benefits of the proposed transaction; the ability of Churchill X or the combined company to issue equity or equity-linked securities in connection with the proposed transaction or in the future; and other factors described in Churchill X’s filings with the SEC. Additional information concerning these and other factors that may impact such forward-looking statements can be found in filings and potential filings by the company, Churchill X or the combined company resulting from the proposed transaction with the SEC, including under the heading “Risk Factors.” If any of these risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, these statements reflect the expectations, plans and forecasts of the company’s and Churchill X’s management as of the date of this press release; subsequent events and developments may cause their assessments to change. While the company and Churchill X may elect to update these forward-looking statements at some point in the future, they specifically disclaim any obligation to do so. Accordingly, undue reliance should not be placed upon these statements. In addition, statements that “we believe” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this communication, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements. An investment in Churchill X is not an investment in any of our founders’ or sponsors’ past investments, companies or affiliated funds. The historical results of those investments are not indicative of future performance of Churchill X, which may differ materially from the performance of our founders’ or sponsors’ past investments. Participants in the Solicitation Churchill X, the company and certain of their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitation of proxies from Churchill X’s shareholders in connection with the proposed transaction. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of Churchill X’s shareholders in connection with the proposed transaction is set forth in the proxy statement/prospectus filed by Churchill X with the SEC. You can find more information about Churchill X’s directors and executive officers in Churchill X’s final prospectus related to its initial public offering filed with the SEC on May 15, 2025. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests are included in the definitive proxy statement/prospectus. Shareholders, potential investors and other interested persons should read the definitive proxy statement/prospectus carefully before making any voting or investment decisions. You may obtain free copies of these documents from the sources described above. No Offer or Solicitation This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This press release is not, and under no circumstances is to be construed as, a prospectus, an advertisement or a public offering of the securities described herein in the United States or any other jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or exemptions therefrom. INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. <img src="https://imageproxy.pbkrs.com/https://cts.businesswire.com/ct/CT/query-ZGlzdHJvPW54JmlkPWJ3bmV3cyZsYW5nPWVuJnNpZD1hY3FyOCZzdHk9MjAyNjAyMDk5NTQwNzVyMQ?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://cts.businesswire.com/ct/CT/query-ZGlzdHJvPW54JmlkPWJ3bmV3cyZsYW5nPWVuJnNpZD1hY3FyOCZzdHk9MjAyNjAyMDk5NTQwNzVyMQ"/>View source version on businesswire.com: https://www.businesswire.com/news/home/20260209954075/en/ Source: Infleqtion</div>

CCCX

IPXXU

INFQ

Infleqtion has launched its $6.2 million ENCODE project with ARPA-E to enhance energy grid optimization using quantum computing. This initiative, in collaboration with key national laboratories, aims to address the limitations of classical systems in managing rising electricity demands. Infleqtion's quantum solutions promise improved energy affordability and grid stability. The company, which plans to go public through a merger with Churchill Capital Corp X, emphasizes its commitment to national security and advancing quantum technology for critical infrastructure.

Infleqtion Advances ARPA-E Quantum Computing Grid Optimization Program