SCHEDULE 13G 0001346554 XXXXXXXX LIVE Class A ordinary shares, par value $0.0001 per share 09/04/2025 0002074850 Spring Valley Acq Corp. III G8377R127 2100 McKinney Avenue Suite 1675 Dallas TX 75201 Rule 13d-1(c) Tenor Capital Management Company, L.P. b DE 0 1000000 0 1000000 1000000 N 5.0 IA Please see note in Item 4(a) Tenor Opportunity Master Fund, Ltd. b E9 0 1000000 0 1000000 1000000 N 5.0 OO Please see note in Item 4(a) Robin Shah b X1 0 1000000 0 1000000 1000000 N 5.0 HC IN Please see note in Item 4(a) Spring Valley Acq Corp. III 2100 McKinney Avenue, Suite 1675 Dallas, TX 75201 Tenor Capital Management Company, L.P. Tenor Opportunity Master Fund, Ltd. Robin Shah 810 Seventh Avenue, Suite 1905, New York, NY 10019 Tenor Capital Management Company, L.P. - Delaware Tenor Opportunity Master Fund, Ltd. - Cayman Islands Robin Shah - USA Y Tenor Capital Management Company, L.P. - 5.0% Tenor Opportunity Master Fund, Ltd. - 5.0% Robin Shah - 5.0% The Class A Ordinary Shares (the "Shares") reported herein are held in the form of units (the "Units"), each Unit consists of one Class A ordinary share of the Issuer and one-third of one redeemable public warrant, as described in more detail in the Issuer's Prospectus filed with the SEC on September 4, 2025. The Units are held by Tenor Opportunity Master Fund, Ltd. (the "Master Fund"). Tenor Capital Management Company, L.P. ("Tenor Capital") serves as the investment manager to the Master Fund. Robin Shah serves as the managing member of Tenor Management GP, LLC, the general partner of Tenor Capital. By virtue of these relationships, the Reporting Persons may be deemed to have shared voting and dispositive power with respect to the Shares reported herein in the form of Units owned directly by the Master Fund. This report shall not be deemed an admission that the Reporting Persons are beneficial owners of the Shares for purposes of Section 13 of the Securities Exchange Act of 1934, as amended, or for any other purpose. Each of the Reporting Persons disclaims beneficial ownership of the Shares in the form of Units reported herein except to the extent of the Reporting Person's pecuniary interest therein. The percentages herein are calculated based upon a statement in the Issuer's Prospectus, filed on September 4, 2025 indicating that there are 20,000,000 Units issued and outstanding. Tenor Capital Management Company, L.P. - 5.0% Tenor Opportunity Master Fund, Ltd. - 5.0% Robin Shah - 5.0% Tenor Capital Management Company, L.P. - 0 Tenor Opportunity Master Fund, Ltd. - 0 Robin Shah - 0 Tenor Capital Management Company, L.P. - 1,000,000 Tenor Opportunity Master Fund, Ltd. - 1,000,000 Robin Shah - 1,000,000 Tenor Capital Management Company, L.P. - 0 Tenor Opportunity Master Fund, Ltd. - 0 Robin Shah - 0 Tenor Capital Management Company, L.P. - 1,000,000 Tenor Opportunity Master Fund, Ltd. - 1,000,000 Robin Shah - 1,000,000 Y N 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. EXHIBIT I - JOINT FILING STATEMENT Tenor Capital Management Company, L.P. /s/ Robin Shah 09/08/2025 Tenor Opportunity Master Fund, Ltd. /s/ Robin Shah 09/08/2025 Robin Shah /s/ Robin Shah 09/08/2025