Terran Orbital expands leadership team with focus on growth and profitability

Peter Krauss appointed chief operating officer

Adarsh ​​Parekh appointed as CFO

Mathieu Riffel appointed as chief accounting officer

Terran Orbital Corporation (NYSE: LLAP) (“Terran Orbital” or the “Company”), a global leader in satellite solutions for the aerospace, defense, intelligence and commercial industries, today announced the appointments of key members of its leadership team to accelerate the Company’s path to increase revenues and obtain positive free cash flows.

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The company welcomes Peter Krauss as its new chief operating officer (COO), Adarsh ​​Parekh as its new chief financial officer (CFO) and Mathieu Riffel as its chief accounting officer (CAO). Mr. Krauss’s appointment is effective from June 1, 2024, while the appointments of Mr. Parekh and Mr. Riffel are effective from June 17, 2024.

Mr. Krauss and Mr. Parekh will report to Marc Bell, the company’s co-founder, president and CEO. Once the appointments of Mr. Parekh and Mr. Krauss, respectively, are deemed effective, Mr. Riffel will report to Mr. Parekh. Mr. Krauss will oversee all engineering, manufacturing, supply chain, business development and marketing functions, as well as our international operations. Mr. Parekh will oversee all accounting, finance and investor relations functions.

Tony Gingiss, the company’s current COO, has decided to leave Terran Orbital. This decision is based on mutual respect and understanding. Accordingly, to facilitate a smooth and orderly transition of his responsibilities, Mr. Gingiss has agreed to provide strategic advisory services to the Company until his departure on July 15, 2024. The Company is extremely grateful for his leadership and contributions over the past year and wishes him all the best in his future endeavors.

“We are excited to welcome Peter Krauss and Adarsh ​​Parekh to the Terran Orbital Family and to promote Mathieu Riffel. All three executives have a proven track record of operational efficiency, financial discipline and accelerated growth,” Bell said. “Their leadership will play a key role in our strategy to streamline our operations, optimize financial performance and deliver profitable revenue growth. This strategic strengthening of our leadership team reinforces our commitment to delivering value to our shareholders.”

As COO, Peter Krauss will focus on increasing operational efficiency and reducing costs of Terran Orbital’s manufacturing and production processes. Mr. Krauss is a seasoned sales, marketing and operations executive with nearly 30 years of experience driving organizational growth and profitability, as well as extensive expertise in building and managing complex, global manufacturing and distribution systems in countries such as the U.S., Germany, United Kingdom, Mexico, Hungary, Singapore, Hong Kong and Taiwan. Mr. Krauss brings a wealth of expertise in cost reduction, process optimization and performance improvement. Mr. Krauss has extensive mergers and acquisitions expertise and a history of successful transactions. As a proven operator, Mr. Krauss excels in team building, mentoring and effective communication, focusing on creating an ideal results-oriented work culture. As a problem solver and change agent, Mr. Krauss is a specialist in improving customer and team member experiences while ensuring efficient, effective and scalable operations and significant financial results.

Adarsh ​​Parekh joins Terran Orbital as CFO, bringing over 20 years and $2.5 billion of transactional experience in the financial sector, including strategic growth initiatives, strategic planning and implementation, FP&A, M&A, leveraged finance, transactions in capital markets and treasury management. Prior to joining Terran Orbital, Mr. Parekh served as the Chief Financial Officer of Alio, Inc., a medical technology company, where he oversaw all financial and accounting functions and played a key role in the company’s initial commercialization efforts. Mr. Parekh also served as Chief Financial Officer of Woodspur Farms, a vertically integrated specialty agriculture company, where he was responsible for the integration of four separate acquisitions and multiple organizational initiatives.

As CAO, Mathieu Riffel will focus on the Company’s accounting, financial reporting, internal controls and compliance processes. Mathieu Riffel has been with the Company since 2021, most recently serving as acting CFO. Mr. Riffel will continue to serve as the Company’s chief accounting officer. His deep commitment to accuracy and attention to detail will ensure continued financial transparency.

“Peter Krauss, Adarsh ​​Parekh and Mathieu Riffel are the right leaders at the right time for Terran Orbital,” Bell added. “Their combined expertise and focus on profitability will be a driving force as we position Terran Orbital to compete on the speed of the responsive space and multiplying mega-constellations expected of government and commercial customers in the coming years. We are confident that they will help us achieve our financial goals and deliver long-term value to our stakeholders during this exciting period of growth.”

About Terran orbit

Terran Orbital is a leading manufacturer of satellite products serving primarily the aerospace and defense industries. Terran Orbital provides end-to-end satellite solutions, combining satellite design, manufacturing, launch planning, mission operations and on-orbit support to meet the needs of the most demanding military, civilian and commercial customers. More information can be found at www.terranorbital.com.

Forward-looking statements

This press release contains, and the Company’s management and representatives may from time to time make, other public written and oral announcements containing “forward-looking statements” within the meaning of the federal securities laws. We intend for such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, section 27A of the Securities Act of 1933, as amended, and Art. 21E of the Securities Act and the Securities Exchange Act of 1934, as amended. Any statements, other than statements of current or historical fact, contained in this press release regarding our expected future financial performance, our business strategy, current strategic review, future operations, results of operations and its impact on our stockholders, our ability to implement, expectations regarding key customer contracts and management’s expectations, plans and objectives are forward-looking statements. Forward-looking statements are typically identified by words such as “plan”, “believe”, “expect”, “anticipate”, “intend”, “outlook”, “estimate”, “forecast”, “project”, “continue ” “may”, “might”, “might”, “possible”, “potential”, “anticipate”, “will”, “should”, “would” and “could” and other similar words and phrases, but none of these words do not mean that the statement does not apply to the future. These forward-looking statements involve a number of risks, uncertainties (many of which are beyond our control) or other assumptions that could cause actual results or performance to differ materially from those expressed or implied by the forward-looking statements contained in this document. press release, including, without limitation: statements regarding our ability to drive revenue growth and achieve positive cash flow, streamline our business, optimize our financial performance and deliver profitable revenue growth, and achieve our financial goals and deliver long-term value to our stakeholders; and other risks disclosed in our Annual Report on Form 10-K filed with the SEC on April 1, 2024 and in the prospectus supplement dated September 18, 2023 relating to our Registration Statement on Form S-3, as amended (file No. 333 -271093), which was declared effective by the SEC on April 18, 2023.

These forward-looking statements are based on management’s current expectations, plans, projections, assumptions and beliefs regarding future developments and their potential effects. There can be no assurance that future events that will affect us will be as we have anticipated and we may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks, and we cannot assess the impact of all factors on our business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements we may make. You should read this press release with the understanding that our actual future results may differ materially from the expectations disclosed in our forward-looking statements. All of our forward-looking statements are qualified in their entirety by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release, and we assume no obligation or intention to update any forward-looking statements to reflect events or circumstances that occur after the date they are made, whether as a result of new information, future events or otherwise, except as required by law.

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