BLZR · Trailblazer Acquisition Corp.

As described in the registration statement on Form S-1 (File No. 333-288651) of Trailblazer Acquisition Corp. (the "Issuer") under the heading "Description of Securities--Founder Shares," the Class B ordinary shares will automatically convert into Class A ordinary shares at the time of the Issuer's initial business combination, or at any time prior to the Issuer's initial business combination, at the option of the holder, on a one-for-one basis, subject to certain adjustments. The Class B ordinary shares have no expiration date.

As contemplated in connection with the initial public offering of the issuer, as a result of the underwriters' partial exercise of the over-allotment option, 25,000 Class B ordinary shares were surrendered by Trailblazer Sponsor LLC (the "Sponsor") to the issuer for no consideration.

Trailblazer Sponsor LLC, the Sponsor, is the record holder of such shares. The sole managing member of the Sponsor is Eric Semler. Mr. Semler holds voting and investment discretion with respect to the ordinary shares held of record by the Sponsor. Mr. Semler disclaims any beneficial ownership of the securities held by the Sponsor other than to the extent of any pecuniary interest he may have therein, directly or indirectly. Each such person disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest they may have therein, directly or indirectly.