Certain Class B ordinary shares of Colombier Acquisition Corp. II are subject to a Lock-Up Agreement Ending on 18-MAY-2024. These Class B ordinary shares will be under lockup for 180 days starting from 20-NOV-2023 to 18-MAY-2024.

The sponsor and officers and directors have agreed that, for a period of certain days from the date of this prospectus, they will not, without the prior written consent of the representative, offer, sell, contract to sell, pledge or otherwise dispose of, directly or indirectly, any units, warrants, shares of common stock or any other securities convertible into, or exercisable, or exchangeable for, shares of common stock, subject to certain exceptions. The sponsor, officers and directors are also subject to separate transfer restrictions on their founder shares and private placement warrants pursuant to the insider letters as described herein.

The sponsor, founder, officers and directors have agreed not to transfer, assign or sell any founder shares held by them until the earlier to occur of: (1) one year after the completion of initial business combination; or (2) the date on which the company complete a liquidation, merger, stock exchange, reorganization or other similar transaction after initial business combination that results in all of public stockholders having the right to exchange their shares of common stock for cash, securities or other property.