KLR Energy Acquisition Corp. (KLRE): Polar Asset Management Partners Reports 11% Passive Stake

Name of Issuer:

The name of the issuer is KLR Energy Acquisition Corp.
(the Company).

Address of Issuers Principal Executive
Offices:

The Companys principal executive offices are located at
811 Main Street, 18th Floor, Houston, Texas 77002.

Name of Person Filing:

This statement is filed by Polar Asset Management
Partners Inc., a company incorporated under the laws on Ontario, Canada,
which serves as the investment advisor to Polar Multi Strategy Master Fund
(PMSMF), a Cayman Islands exempted company, with respect to the
Shares (as defined below) directly held by PMSMF. The filing of this
statement should not be construed as an admission that the Reporting
Persons is, for the purposes of Section 13 of the Act, the beneficial
owner of the Shares reported herein.

Address of Principal Business Office or, if None,
Residence:

The address of the business office of the Reporting
Person is 401 Bay Street, Suite 1900, PO Box 19, Toronto, Ontario M5H 2Y4,
Canada.

Citizenship:

The citizenship of the Reporting Person is set forth
above.

Title and Class of Securities:

Class A common stock (“Shares“)

CUSIP No.:

49877M108