ACAB Atlantic Coastal Acquisition Corporation II

In connection with the special meeting of the stockholders (the “Special Meeting”) of Atlantic Coastal Acquisition Corp. II, a Delaware Corporation (the “Company”), to extend the date by which the Company has to consummate a business combination (the “Extension”) from April 19, 2023 to October 19, 2023 (or later, pursuant to the terms of the Extension), the Company and Atlantic Coastal Acquisition Management II LLC (the “Sponsor”), will enter into a non-redemption agreement (the “Non-Redemption Agreement”) with one or more unaffiliated third party or parties, pursuant to which such third party or third parties will agree not to redeem Series A common stock of the Company (“Non-Redeemed Shares”) in connection with the Extension. In exchange for the foregoing commitments not to redeem such Series A common stock, the Sponsor has agreed to transfer Series B common stock of the Company held by the Sponsor to such third party or third parties immediately following consummation of an initial business combination if they continue to hold such Non-Redeemed Shares through the Special Meeting. The Non-Redemption Agreements will increase the amount of funds that remain in the Company’s trust account following the Extension Meeting.

The foregoing summary of the Non-Redemption Agreement does not purport to be complete and is qualified in its entirety by reference to the form of Non-Redemption Agreement filed herein as Exhibit 10.1 and incorporated herein by reference.