1-Z LIVE 0001971654 XXXXXXXX N true Masterworks 265, LLC 1 World Trade Center 57th Floor New York NY 10007 203-518-5172 024-12214 Class A Ordinary Shares 024-12214 0 0001971654 Masterworks 265, LLC Masterworks 265, LLC /s/ Josh Goldstein 06-29-2026 General Counsel, Secretary and Member of the Board of Managers