On February 5, 2024, Terran Orbital Corporation announced that it has entered into an agreement with the investor group comprised of Sophis Investments LLC, Sophis GP LLC, Tassos Recachinas, Roark?s Drift, LLC, Joseph Roos, Jordi Puig-Suari, Roland Coelho and Austin Williams. As per the Agreement, the Nominating and Corporate Governance Committee will endeavor to promptly identify a candidate (the New Director) for appointment to the Board to fill the Class III Vacancy. The Investor group has the right to suggest up to 3 candidates to the Committee for consideration during the search process. The appointment of the New Director is subject to approval by the Committee and the Board, with the condition that the candidate is reasonably acceptable to Investor group.

During the Cooperation Period, the investor group has bound by customary standstill restrictions, including limitations on acquiring more than 14.0% of any securities entitled to vote, nominating individuals for the Board, submitting proposals for stockholder meetings, soliciting proxies, and supporting changes to the Company?s management or corporate governance structure. Both parties have agreed to a mutual release of claims and not to disparage each other during this period. Additionally, the investor group has committed to voting their Voting Securities in accordance with the Board?s recommendations, except for certain circumstances related to Extraordinary Transactions or differing recommendations from Institutional Shareholder Services, Inc. and Glass, Lewis & Co.

LLC regarding proposals submitted to stockholders.