Breeze Holdings Acquisition Corp. SPAC Merger Partner, D-Orbit Founder, CEO Sends Letter To Shareholders, Outlines Progress Toward SPAC Deal

Dear Breeze and Future D-Orbit Shareholders,

This is an important and exciting time at D-Orbit. I am pleased to provide a short update on the progress we are making on our near-term initiatives and the actions we are taking to position D-Orbit to deliver on our mission of enabling expansion in space and fueling the new space economy.

Continuing to Execute on Our Strategic Priorities

Since announcing our transaction with Breeze Holdings, we have been delivering for our customers and positioning D-Orbit for continued success in 2022 and beyond. Over the past few months, we have been:

• Driving forward with our 2022 missions. We are one of the only companies in our industry that is on track to successfully launch two missions this year, including our "Dashing Through the Stars" mission (launched in January 2022) and "Spacelust" mission (which is scheduled for April 2022), both aboard SpaceX Falcon 9 rockets. In addition, we anticipate launching an additional four missions in the second half of the year and 13 missions in 2023.
• Growing our blue-chip customer and partner base. We have continued to work alongside our best-in-class launch partners while expanding customer relationships with companies including Lockheed Martin, AAC Clyde Space and Aistech Space. As a result, since December 2021, our backlog has increased approximately 20% to €22.75 million.
• Innovating and building our unique technology and capabilities. We're further improving our ION Satellite Carrier (ION) technology and implementing our space cloud infrastructure that is designed to provide distributed high-performance data analytics computing and storage capabilities in space. We are positioning the business to be a leader in in-orbit services and have our sights set on providing life extension, active debris removal and end-of-life disposal services, among others, sooner than later in the coming years. In addition, we're continuing to welcome new team members to support our growth plans and currently have 180 D-Orbit employees.
• Developing infrastructure for a circular economy and the sustainable use of space. As we continue to build out our technology, our service capabilities will facilitate the infrastructure for the cleaner, safer and more sustainable use of space today and in the future, with our In-Orbit Servicing (IOS) solutions, which will enable the removal of dangerous space debris and, later, recycling capabilities in orbit.

In short, we are continuing to execute on our near-term deployment plans – increasing the number of ION launches to serve the growing demand for satellite transportation services. We are confident that we are developing the capabilities to capture opportunities in the mid-term with IOS solutions and in the long-term by enabling new transportation and logistics infrastructure within the inner solar system. We will also continue to evaluate new market opportunities as more and more companies make investments in space across new geographies. For example, in light of recent geopolitical events, we are seeing increased demand in the defense sector for space solutions.

Creating Value for Shareholders

We are on track to close our transaction in the second or third quarter of 2022. By partnering with Breeze Holdings and The Bolden Group, D-Orbit will have the financial resources and experienced partners necessary to continue accelerating investments in new solutions and providing new services to support the exponentially growing constellations of satellites in space.

At D-Orbit, we are building the sustainable infrastructure for the space economy of the future. We encourage you to join us on our journey and participate in D-Orbit's tremendous upside potential.

I am incredibly excited about the future of D-Orbit. Our resilience, skills, passion and motivation are just a few of the many aspects of the D-Orbit team that make me proud and honored everyday walking through the corridors of our production facilities or between desks in our office. We are delivering for our customers today and look forward to generating value for our shareholders once we complete our transaction with Breeze Holdings. We are D-Orbit. You are D-Orbit.

We look forward to providing you with updates as we continue to make progress on executing our growth plans now and into the future, as the new space economy continues to evolve. Thank you for your support.

Sincerely,

Luca Rossettini, Ph.D.
Founder and Chief Executive Officer
D-Orbit