Leo Holdings Corp. II Announces Closing of $375 Million Initial Public Offering

Leo Holdings Corp. II, (the “Company”), a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, today announced the closing of its initial public offering of 37,500,000 units at a price of $10.00 per unit which includes the exercise of the over-allotment option for 2,500,000 units. The units are listed on the New York Stock Exchange and trade under the ticker symbol “LHC.U”. Each unit consists of one Class A ordinary share of the Company and one-fourth of one warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share of the Company at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the New York Stock Exchange under the symbols “LHC” and “LHC WS,” respectively.

Deutsche Bank Securities Inc. and Credit Suisse Securities (USA) LLC are serving as the underwriters for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 5,250,000 additional units at the initial public offering price to cover over-allotments, if any - 2,500,000 units were purchased to date pursuant to such option.

The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from: Deutsche Bank Securities Inc., Attn: Prospectus Department, 60 Wall Street, New York, New York 10005, telephone: 800-503-4611 or email: prospectus.cpdq@db.com; or Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, Telephone: 1-800-221-1037.

A registration statement relating to the securities became effective on January 7, 2021 in accordance with Section 8(a) of the Securities Act of 1933, as amended. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the Securities and Exchange Commission (“SEC”). Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

About Leo Holdings Corp. II

Leo Holdings Corp. II is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

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