Document:

Exhibit
10.1

 

December
7, 2020 

 

DD3
Acquisition Corp. II 

Pedregal
24, 3rd Floor, Interior 300 

Colonia
Molino del Rey, Del. Miguel Hidalgo 

11040
Mexico City, Mexico

 

EarlyBirdCapital,
Inc. 

366
Madison Ave., 8th Floor 

New
York, NY 10017

 

	 	Re:	Initial
    Public Offering

 

Ladies
and Gentlemen:

 

This
letter is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
entered into by and between DD3 Acquisition Corp. II, a Delaware corporation (the “Company”), and EarlyBirdCapital,
Inc. as representative (the “Representative”) of the several underwriters named in Schedule I thereto
(the “Underwriters”), relating to an underwritten initial public offering (the “IPO”)
of the Company’s units (the “Units”), each comprised of one share of the Company’s Class
A common stock, par value $0.0001 per share (the “Common Stock”), and one-half of one warrant, each
whole warrant exercisable for one share of Common Stock (each, a “Warrant”). Certain capitalized terms
used herein are defined in paragraph 13 hereof.

 

In
order to induce the Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the IPO, and in
recognition of the benefit that such IPO will confer upon the undersigned, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, each of the undersigned hereby agrees with the Company as follows:

 

1.
If the Company solicits approval of its stockholders of a Business Combination, the undersigned will vote all shares of Capital
Stock beneficially owned by him, her or it, whether acquired before, in, or after the IPO, in favor of such Business Combination.

 

2.
(a) In the event that the Company fails to consummate a Business Combination within the time period set forth in the Company’s
Amended and Restated Certificate of Incorporation, as the same may be amended from time to time (the “Certificate
of Incorporation”), the undersigned will, as promptly as possible, cause the Company to (i) cease all operations
except for the purpose of winding up, (ii) as promptly as reasonably possible, but not more than 10 business days thereafter,
redeem 100% of the outstanding IPO Shares at a per-share price, payable in cash, equal to the aggregate amount then on deposit
in the Trust Account, including any interest earned on the Trust Account not previously released to the Company but net of taxes
payable, divided by the number of then outstanding IPO Shares, which redemption will completely extinguish public stockholders’
rights as stockholders (including the right to receive further liquidation distributions, if any), subject to applicable law,
and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining
stockholders and the Company’s board of directors, dissolve and liquidate, subject in the cases of clauses (ii) and (iii)
to the Company’s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable
law.

 

(b)
The undersigned hereby waives any and all right, title, interest or claim of any kind in or to any distribution of the Trust Account
(“Claim”) with respect to the Founder Shares and Private Shares owned by the undersigned and hereby
waives any Claim the undersigned may have in the future as a result of, or arising out of, any contracts or agreements with the
Company and will not seek recourse against the Trust Account for any reason whatsoever. The undersigned acknowledges and agrees
that there will be no distribution from the Trust Account with respect to any Warrants, all rights of which will terminate on
the Company’s liquidation.

 

(c)
In the event of the liquidation of the Trust Account, the Sponsor agrees to indemnify and hold harmless the Company for any debts
and obligations to target businesses or vendors or other entities that are owed money by the Company for services rendered or
contracted for or products sold to the Company, but only to the extent necessary to ensure that such debt or obligation does not
reduce the amount of funds in the Trust Account below $10.00 per share; provided that such indemnity shall not apply (i) if such
vendor or prospective target business executed an agreement waiving any right, title, interest or claim of any kind they may have
in or to any monies held in the Trust Account, or (ii) as to any claims under the Company’s obligation to indemnify the
Underwriters against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities
Act”). 

 

    

    

    

 

3.
The undersigned acknowledges and agrees that prior to entering into a Business Combination with a target business that is affiliated
with any Insiders of the Company or their affiliates, such transaction must be approved by a majority of the Company’s disinterested
independent directors and the Company must obtain an opinion from an independent investment banking firm, or another independent
entity that commonly renders valuation opinions, that such Business Combination is fair to the Company’s unaffiliated stockholders
from a financial point of view.

 

4.
Except as contemplated by that certain Forward Purchase Agreement, dated November 19, 2020, between the Company and MG Partners
Multi-Strategy Fund LP, during the period commencing on the effective date of the Underwriting Agreement and ending 180
days after such date, each of the undersigned shall not, without the prior written consent of the Representative, (i) sell, offer
to sell, contract or agree to sell, hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree to dispose
of, directly or indirectly, or establish or increase a put equivalent position or liquidate or decrease a call equivalent position
within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
and the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”) promulgated
thereunder, with respect to any Units, shares of Common Stock, Founder Shares, Warrants or any securities convertible into, or
exercisable, or exchangeable for, shares of Common Stock owned by it, him or her, (ii) enter into any swap or other arrangement
that transfers to another, in whole or in part, any of the economic consequences of ownership of any Units, shares of Common Stock,
Founder Shares, Warrants or any securities convertible into, or exercisable, or exchangeable for, shares of Common Stock owned
by it, him or her, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (iii)
publicly announce any intention to effect any transaction specified in clause (i) or (ii).

 

5.
Neither the undersigned nor any affiliate of the undersigned will be entitled to receive and will not accept any compensation
or other cash payment or fees of any kind, including finder’s, consulting fees and other similar fees, prior to, or for
services rendered in order to effectuate, the consummation of the Business Combination; provided that the Company shall be allowed
to make the payments set forth in the Registration Statement under the caption “Prospectus Summary – The Offering
– Limited payments to insiders.”

 

6.
(a) The undersigned will place into escrow all Founder Shares owned by him/her/it pursuant to the terms of a Stock Escrow Agreement
which the Company will enter into with the undersigned, as applicable, and an escrow agent.

 

(b)
The undersigned agrees that all Private Units (and underlying securities) owned by him/her/it, as applicable, will be subject
to the transfer restrictions described in the Subscription Agreement relating to the Private Units.

 

7.
To the extent that the Underwriters do not exercise their over-allotment option to purchase up to an additional 1,650,000 Units
within 45 days from the date of the prospectus which forms a part of the Registration Statement (and as further described in the
Registration Statement), the Sponsor agrees to forfeit, at no cost, a number of Founder Shares in the aggregate equal to 412,500
multiplied by a fraction, (i) the numerator of which is 1,650,000 minus the number of Units purchased by the Underwriters upon
the exercise of their over-allotment option, and (ii) the denominator of which is 1,650,000. The forfeiture will be adjusted to
the extent that the over-allotment option is not exercised in full by the Underwriters so that the Company’s initial stockholders
will own an aggregate of 20% of the Company’s issued and outstanding shares of Capital Stock after the IPO (excluding the
Private Shares and assuming the initial stockholders do not purchase any Units in the IPO).

 

8.
(a) In order to minimize potential conflicts of interest that may arise from multiple corporate affiliations, the undersigned
hereby agrees that until the earliest of the Company’s initial Business Combination, the Company’s liquidation or
the time that the undersigned ceases to be an officer or director of the Company, as applicable, the undersigned shall present
to the Company for its consideration, prior to presentation to any other entity, any suitable target business, subject to any
pre-existing fiduciary or contractual obligations the undersigned might have.

 

    2

    

    

 

(b)
The undersigned hereby agrees and acknowledges that (i) each of the Underwriters and the Company may be irreparably injured in
the event of a breach of any of the obligations contained in this letter, (ii) monetary damages may not be an adequate remedy
for such breach and (iii) the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that
such party may have in law or in equity, in the event of such breach.

 

9.
The undersigned agrees to be an officer and/or director of the Company, as applicable, until the earlier of the consummation
by the Company of a Business Combination, the liquidation of the Trust Account or his or her removal, death or incapacity. In
the event of the removal or resignation of the undersigned as an officer and/or director of the Company, as applicable, the undersigned
agrees that he or she will not, prior to the consummation of the Business Combination, without the prior express written consent
of the Company, (i) use for the benefit of the undersigned or to the detriment of the Company or (ii) disclose to any third party
(unless required by law or governmental authority), any information regarding a potential target of the Company that is not generally
known by persons outside of the Company, the Sponsor, or their respective affiliates. The undersigned’s biographical information
previously furnished to the Company and the Representative, as applicable, is true and accurate in all respects and does not omit
any material information with respect to the undersigned’s background. The undersigned’s FINRA Questionnaire previously
furnished to the Company and the Representative is true and accurate in all respects. The undersigned represents and warrants
that:

 

	 	(a)	he/she/it
    has never had a petition under the federal bankruptcy laws or any state insolvency law been filed by or against (i) him/her/it
    or any partnership in which he/she/it was a general partner at or within two years before the time of filing; or (ii) any
    corporation or business association of which he/she/it was an executive officer at or within two years before the time of
    such filing;

 

	 	(b)	he/she/it
    has never had a receiver, fiscal agent or similar officer been appointed by a court for his/her/its business or property,
    or any such partnership;

 

	 	(c)	he/she/it
    has never been convicted of fraud in a civil or criminal proceeding;

 

	 	(d)	he/she/it/
    has never been convicted in a criminal proceeding or named the subject of a pending criminal proceeding (excluding traffic
    violations and minor offenses);

 

	 	(e)	he/she/it
    has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court
    of competent jurisdiction, permanently or temporarily enjoining or otherwise limiting him/her/it from (i) acting as a futures
    commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction
    merchant, any other person regulated by the Commodity Futures Trading Commission (“CFTC”) or an
    associated person of any of the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as
    an affiliated person, director or employee of any investment company, bank, savings and loan association or insurance company,
    or from engaging in or continuing any conduct or practice in connection with any such activity; or (ii) engaging in any
    type of business practice; or (iii) engaging in any activity in connection with the purchase or sale of any security
    or commodity or in connection with any violation of federal or state securities or federal commodities laws;

 

	 	(f)	he/she/it
    has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any federal
    or state authority barring, suspending or otherwise limiting for more than 60 days his/her/its right to engage in any activity
    described in paragraph 9(e)(i) above, or to be associated with persons engaged in any such activity;

 

	 	(g)	he/she/it
    has never been found by a court of competent jurisdiction in a civil action or by the SEC to have violated any federal or
    state securities law, where the judgment in such civil action or finding by the SEC has not been subsequently reversed, suspended
    or vacated;

 

    3

    

    

 

	 	(h)	he/she/it
    has never been found by a court of competent jurisdiction in a civil action or by the CFTC to have violated any federal commodities
    law, where the judgment in such civil action or finding by the CFTC has not been subsequently reversed, suspended or vacated;

 

	 	(i)	he/she/it
    has never been the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree or finding,
    not subsequently reversed, suspended or vacated, relating to an alleged violation of (i) any Federal or State securities or
    commodities law or regulation, (ii) any law or regulation respecting financial institutions or insurance companies including,
    but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary
    or permanent cease-and desist order, or removal or prohibition order or (iii) any law or regulation prohibiting mail or wire
    fraud or fraud in connection with any business entity;

 

	 	(j)	he/she/it
    has never been the subject of, or party to, any sanction or order, not subsequently reversed, suspended or vacated, or any
    self-regulatory organization, any registered entity, or any equivalent exchange, association, entity or organization that
    has disciplinary authority over its members or persons associated with a member;

 

	 	(k)	he/she/it
    has never been convicted of any felony or misdemeanor: (i) in connection with the purchase or sale of any security; (ii) involving
    the making of any false filing with the SEC; or (iii) arising out of the conduct of the business of an underwriter, broker,
    dealer, municipal securities dealer, investment advisor or paid solicitor of purchasers of securities;

 

	 	(l)	he/she/it
    was never subject to a final order of a state securities commission (or an agency of officer of a state performing like functions);
    a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission
    (or an agency or officer of a state performing like functions); an appropriate federal banking agency; the CFTC; or the National
    Credit Union Administration that is based on a violation of any law or regulation that prohibits fraudulent, manipulative,
    or deceptive conduct;

 

	 	(m)	he/she/it
    has never been subject to any order, judgment or decree of any court of competent jurisdiction, that, at the time of such
    sale, restrained or enjoined him/her/it from engaging or continuing to engage in any conduct or practice: (i) in connection
    with the purchase or sale of any security; (ii) involving the making of any false filing with the SEC; or (iii) arising out
    of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser or paid
    solicitor of purchasers of securities;

 

	 	(n)	he/she/it
    has never been subject to any order of the SEC that orders him/her/it to cease and desist from committing or causing a future
    violation of: (i) any scienter-based anti-fraud provision of the federal securities laws, including, but not limited to, Section
    17(a)(1) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and Section 206(1) of the Investment
    Advisers Act of 1940, as amended (the “Advisers Act”), or any other rule or regulation thereunder;
    or (ii) Section 5 of the Securities Act;

 

	 	(o)	he/she/it
    has never been named as an underwriter in any registration statement or Regulation A offering statement filed with the SEC
    that was the subject of a refusal order, stop order, or order suspending the Regulation A exemption, or is, currently, the
    subject of an investigation or proceeding to determine whether a stop order or suspension order should be issued;

 

	 	(p)	he/she/it
    has never been subject to a United States Postal Service false representation order, or is currently subject to a temporary
    restraining order or preliminary injunction with respect to conduct alleged by the United States Postal Service to constitute
    a scheme or device for obtaining money or property through the mail by means of false representations;

 

    4

    

    

 

	 	(q)	he/she/it
    is not subject to a final order of a state securities commission (or an agency of officer of a state performing like functions);
    a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission
    (or an agency or officer of a state performing like functions); an appropriate federal banking agency; the Commodity Futures
    Trading Commission; or the National Credit Union Administration that bars the undersigned from: (i) association with an entity
    regulated by such commission, authority, agency or officer; (ii) engaging in the business of securities, insurance or banking;
    or (iii) engaging in savings association or credit union activities;

 

	 	(r)	he/she/it
    is not subject to an order of the SEC entered pursuant to section 15(b) or 15B(c) of the Exchange Act or section 203(e) or
    203(f) of the Advisers Act that: (i) suspends or revokes the undersigned’s registration as a broker, dealer, municipal
    securities dealer or investment adviser; (ii) places limitations on the activities, functions or operations of, or imposes
    civil money penalties on, such person; or (iii) bars the undersigned from being associated with any entity or from participating
    in the offering of any penny stock; and

 

	 	(s)	he/she/it
    has never been suspended or expelled from membership in, or suspended or barred from association with a member of, a securities
    self-regulatory organization (e.g., a registered national securities exchange or a registered national or affiliated securities
    association) for any act or omission to act constituting conduct inconsistent with just and equitable principles of trade.

 

10.
The undersigned has full right and power, without violating any agreement by which he, she or it is bound, to enter into this
letter agreement and to serve as a director and/or officer of the Company, as applicable.

 

11.
The undersigned hereby waives any right to exercise conversion rights with respect to any shares of Capital Stock owned or to
be owned by the undersigned, directly or indirectly (or to sell such shares to the Company in a tender offer), whether acquired
before, in or after the IPO, and agrees not to seek conversion with respect to such shares in connection with any vote to approve
a Business Combination (or sell such shares to the Company in a tender offer in connection with such a Business Combination) or
any amendment to the Certificate of Incorporation prior thereto (although the undersigned shall be entitled to conversion rights
with respect to any IPO Shares he/she/it holds if the Company fails to consummate a Business Combination within the time period
set forth in the Certificate of Incorporation). 

 

12.
The undersigned hereby agrees to not propose, or vote in favor of, any amendment to the Certificate of Incorporation (A) to modify
the substance or timing of the Company’s obligations with respect to conversion rights as described in the Registration
Statement or (B) with respect to any other provision relating to stockholders’ rights or pre-initial Business Combination
activity, unless the Company provides public stockholders with the opportunity to convert their IPO Shares upon the approval of
any such amendment at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account,
including interest not previously released to the Company but net of taxes payable, divided by the number of then outstanding
IPO Shares.  

 

13.
In the event that the Company does not consummate a Business Combination and must liquidate and its remaining net assets are insufficient
to complete such liquidation, the Sponsor agrees to advance such funds necessary to complete such liquidation and agrees not to
seek repayment for such expenses.

 

14.
This letter agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without
giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
Each of the Company and the undersigned hereby (i) agrees that any action, proceeding or claim against him arising out of or relating
in any way to this letter agreement shall be brought and enforced in the courts of the State of New York of the United States
of America for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive
and (ii) waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum.

 

15.
As used herein, (i) a “Business Combination” means a merger, capital stock exchange, asset acquisition,
stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities;
(ii) “Insiders” means the Sponsor and all officers, directors and initial stockholders of the Company
immediately prior to the IPO; (iii) “Founder Shares” means all of the outstanding shares of Class B
common stock, par value $0.0001 per share, of the Company issued prior to the consummation of the IPO and shall be deemed to include
the shares of Common Stock issuable upon conversion thereof; (iv) “IPO Shares” means the shares of Common
Stock issued in the Company’s IPO; (v) “Capital Stock” means, collectively, the Common Stock and
the Founder Shares; (vi) “Private Units” means the units of the Company that the Sponsor and certain
other investors have agreed to purchase in a private placement simultaneously with the consummation of the IPO, and “Private
Shares” means the shares of Common Stock included in the Private Units; (vii) “Trust Account”
means the trust account into which a portion of the net proceeds of the IPO will be deposited; (viii) “Registration
Statement” means the Company’s registration statement on Form S-1 (File No. 333-250212) filed with the SEC
and (ix) “Sponsor” means DD3 Sponsor Group, LLC, a Delaware limited liability company.

 

    5

    

    

 

16.
This letter agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter
hereof and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral,
to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This letter agreement
may not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision,
except by a written instrument executed by all parties hereto.

 

17.
Each of the undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations
and warranties set forth herein in proceeding with the IPO. Nothing contained herein shall be deemed to render the Underwriters
a representative of, or a fiduciary with respect to, the Company, its stockholders or any creditor or vendor of the Company with
respect to the subject matter hereof.

 

18.
No party hereto may assign either this letter agreement or any of its rights, interests, or obligations hereunder without the
prior written consent of the other parties. Any purported assignment in violation of this paragraph shall be void and ineffectual
and shall not operate to transfer or assign any interest or title to the purported assignee. This letter agreement shall be binding
on each of the undersigned and their respective successors, heirs and assigns and permitted transferees.

 

19.
Nothing in this letter agreement shall be construed to confer upon, or give to, any person or corporation other than the parties
hereto any right, remedy or claim under or by reason of this letter agreement or of any covenant, condition, stipulation, promise
or agreement hereof. All covenants, conditions, stipulations, promises and agreements contained in this letter agreement shall
be for the sole and exclusive benefit of the parties hereto and their successors, heirs, personal representatives and assigns
and permitted transferees.

 

20.
This letter agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall
for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

21.
This letter agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall
not affect the validity or enforceability of this letter agreement or of any other term or provision hereof. Furthermore, in lieu
of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this
letter agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and
enforceable.

 

22.
Any notice, consent or request to be given in connection with any of the terms or provisions of this letter agreement shall be
in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested),
by hand delivery or electronic transmission.

 

23.
This letter agreement shall terminate on the earlier of (i) the expiration of the restrictions set forth in paragraph 6 hereof
or (ii) the liquidation of the Company; provided that paragraph 2(c) of this letter agreement shall survive such liquidation.

 

  

 

[Signature
Page Follows]

 

    6

    

    

  

	 	Sincerely,
	 	 
	 	DD3 SPONSOR GROUP, LLC
	 	 	 
	 	By:	/s/
    Jorge Combe
	 	 	Name:  Jorge Combe
	 	 	Title:    Manager
	 	 	 
	 	 	/s/
    Martin Werner
	 	 	Martin Werner
	 	 	 
	 	 	/s/ Jorge
    Combe
	 	 	Jorge Combe
	 	 	 
	 	 	/s/ Daniel
    Salim
	 	 	Daniel Salim
	 	 	 
	 	 	/s/ Guillermo
    Ortiz
	 	 	Guillermo Ortiz
	 	 	 
	 	 	/s/ Daniel
    Valdez
	 	 	Daniel Valdez
	 	 	 
	 	 	/s/ Pedro
    Solís Cámara
	 	 	Pedro Solís Cámara
	 	 	 
	 	 	/s/ Luis
    Campos
	 	 	Luis Campos

 

[Signature
Page to Letter Agreement] 

 

    

    

    

 

 

	 	MG PARTNERS MULTI-STRATEGY FUND
    LP
	 	 	 	 
	 	By:	/s/ Daniel
    Valdez
	 		Name:	Daniel Valdez
	 	 	Title:	Director
	 	 	 	 
	 	By:	/s/ Bernardo
    Guerra
	 	 	Name:	Bernardo Guerra
	 	 	Title:	Director

 

[Signature
Page to Letter Agreement] 

 

    

    

    

 

 

	Acknowledged and Agreed:	 
	 	 
	DD3 ACQUISITION CORP. II	 
	 	 	 	 
	By:	/s/ Martin
    Werner	 
	 	Name:	Martin Werner	 
	 	Title:	Chief Executive Officer	 

  

[Signature
Page to Letter Agreement]Exhibit 10.2

 

INVESTMENT MANAGEMENT TRUST AGREEMENT

 

This Agreement is made
as of December 7, 2020 by and between DD3 Acquisition Corp. II (the “Company”) and Continental Stock Transfer
& Trust Company (“Trustee”).

 

WHEREAS, the Company’s
registration statement on Form S-1, File No. 333-250212 (“Registration Statement”) for its initial public offering
of securities (“IPO”) has been declared effective as of the date hereof (“Effective Date”)
by the Securities and Exchange Commission (capitalized terms used herein and not otherwise defined shall have the meanings set
forth in the Registration Statement); and

 

WHEREAS, EarlyBirdCapital,
Inc. is acting as the representative (the “Representative”) of the several underwriters in the IPO; and

 

WHEREAS, as described
in the Registration Statement, and in accordance with the Company’s Amended and Restated Certificate of Incorporation, as
the same may be amended from time to time (the “Certificate of Incorporation”), $110,000,000 ($126,500,000 if
the over-allotment option is exercised in full) of the proceeds from the IPO and a simultaneous private placement of units will
be delivered to the Trustee to be deposited and held in a segregated trust account located at all times in the United States (the
“Trust Account”) for the benefit of the Company and the holders of the Company’s Class A common stock,
par value $0.0001 per share (“Common Stock”), issued in the IPO as hereinafter provided (the proceeds to be
delivered to the Trustee will be referred to herein as the “Property”; the stockholders for whose benefit the
Trustee shall hold the Property will be referred to as the “Public Stockholders,” and the Public Stockholders
and the Company will be referred to together as the “Beneficiaries”); and

 

WHEREAS, the Company
and the Trustee desire to enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee shall hold
the Property;

 

IT IS AGREED:

 

1.             Agreements and Covenants of Trustee. The Trustee hereby agrees and covenants to:

 

(a)          Hold the Property in trust for the Beneficiaries in accordance with the terms of this Agreement in the Trust Account established
by the Trustee initially at J.P. Morgan Chase Bank, N.A. (or at another U.S. chartered commercial bank with consolidated assets
of $100 billion or more) in the United States, maintained by Trustee, and at a brokerage institution selected by the Trustee that
is reasonably satisfactory to the Company;

 

(b)         Manage, supervise, and administer the Trust Account subject to the terms and conditions set forth herein;

 

(c)          In a timely manner, upon the written instruction of the Company, invest and reinvest the Property solely in United States
“government securities” within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended (the
“Investment Company Act”), having a maturity of 185 days or less, and/or in any open ended investment company
registered under the Investment Company Act that holds itself out as a money market fund selected by the Company meeting the conditions
of paragraph (d) of Rule 2a-7 promulgated under the Investment Company Act (or any successor rule), which invest only in direct
U.S. government treasury obligations; it being understood that the Trust Account will earn no interest while account funds are
uninvested awaiting the Company’s instructions hereunder and the Trustee may earn bank credits or other consideration during
such periods;

 

(d)          Collect and receive, when due, all principal, interest or other income arising from the Property, which shall become part
of the “Property,” as such term is used herein;

 

(e)          Promptly notify the Company and the Representative of all communications received by the Trustee with respect to any Property
requiring action by the Company;

 

(f)           Supply any necessary information or documents as may be requested by the Company (or its authorized agents) in connection
with the Company’s preparation of the tax returns relating to assets held in the Trust Account;

 

     

     

    

 

(g)          Participate in any plan or proceeding for protecting or enforcing any right or interest arising from the Property if, as,
and when instructed by the Company to do so;

 

(h)          Render to the Company monthly written statements of the activities of and amounts in the Trust Account reflecting all receipts
and disbursements of the Trust Account;

 

(i)           Commence liquidation of the Trust Account only after and promptly after receipt of, and only in accordance with, the terms
of a letter (“Termination Letter”), in a form substantially similar to that attached hereto as either Exhibit
A or Exhibit B, signed on behalf of the Company and, in the case of a Termination Letter in a form substantially similar
to that attached hereto as Exhibit A, jointly acknowledged and agreed to by the Representative, and complete the liquidation
of the Trust Account and distribute the Property in the Trust Account only as directed in the Termination Letter and the other
documents referred to therein; provided, however, that in the event that a Termination Letter has not been received by the Trustee
within the period of time (the “Last Date”) provided in the Company’s Certificate of Incorporation, the
Trust Account shall be liquidated in accordance with the procedures set forth in the Termination Letter attached as Exhibit
B hereto and distributed to the Public Stockholders of record as of the Last Date; and

 

(j)           Upon receipt of a letter (an “Amendment Notification Letter”) in the form of Exhibit C, signed
on behalf of the Company by an authorized officer, distribute to Public Stockholders who exercised their conversion rights in connection
with an amendment to the Company’s Certificate of Incorporation (A) to modify the substance or timing of the Company’s
obligations with respect to conversion rights as described in the Registration Statement or (B) with respect to any other provision
relating to stockholders’ rights or pre-initial Business Combination (as defined below) activity (an “Amendment”)
an amount equal to the pro rata portion of the Property relating to the Common Stock for which such Public Stockholders have exercised
conversion rights in connection with such Amendment.

 

2.             Limited Distributions of Income from Trust Account.

 

(a)          Upon written request from the Company, which may be given from time to time in a form substantially similar to that attached
hereto as Exhibit D, the Trustee shall distribute to the Company the amount of interest income earned on the Trust Account
requested by the Company to cover any income or other tax obligation owed by the Company.

 

(b)          The limited distributions referred to in Section 2(a) above shall be made only from income collected on the Property.
Except as provided in Section 2(a) above, no other distributions from the Trust Account shall be permitted except in accordance
with Sections 1(i) or 1(j) hereof.

 

3.             Agreements and Covenants of the Company. The Company agrees and covenants to:

 

(a)          Give all instructions to the Trustee hereunder in writing, signed by any one of the Company’s authorized officers.
In addition, except with respect to its duties under Sections 1(i), 1(j), and 2(a) above, the Trustee shall
be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good
faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided
that the Company shall promptly confirm such instructions in writing;

 

(b)          Subject to the provisions of Section 5 of this Agreement, hold the Trustee harmless and indemnify the Trustee from
and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection
with any claim, potential claim, action, suit, or other proceeding brought against the Trustee which in any way arises out of or
relates to this Agreement, the services of the Trustee hereunder, or the Property or any income earned from investment of the Property,
except for expenses and losses resulting from the Trustee’s gross negligence or willful misconduct. Promptly after the receipt
by the Trustee of notice of demand or claim or the commencement of any action, suit, or proceeding, pursuant to which the Trustee
intends to seek indemnification under this paragraph, it shall notify the Company in writing of such claim (hereinafter referred
to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such
Indemnified Claim, provided, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel,
which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written
consent of the Company, which consent shall not be unreasonably withheld. The Company may participate in such action with its own
counsel;

 

     

     

    

 

(c)          Pay the Trustee an initial acceptance fee, an annual fee, and a transaction processing fee for each disbursement made pursuant
to Section 2(a) as set forth on Schedule A hereto, which fees shall be subject to modification by the parties from
time to time. It is expressly understood that the Property shall not be used to pay such fees and further agreed that any fees
owed to the Trustee shall be deducted by the Trustee from the disbursements made to the Company pursuant to Section 1(i)
solely in connection with the consummation of a business combination (a “Business Combination”). The Company
shall pay the Trustee the initial acceptance fee and first annual fee at the consummation of the IPO and thereafter on the anniversary
of the Effective Date;

 

(d)          In connection with any vote of the Company’s stockholders regarding a Business Combination, provide to the Trustee
an affidavit or certificate of a firm regularly engaged in the business of soliciting proxies and/or tabulating stockholder votes
verifying the vote of the Company’s stockholders regarding such Business Combination;

 

(e)          In the event that the Company directs the Trustee to commence liquidation of the Trust Account pursuant to Section 1(i),
the Company agrees that it will not direct the Trustee to make any payments that are not specifically authorized by this Agreement;

 

(f)           If the Company has an Amendment approved by its stockholders, provide the Trustee with an Amendment Notification Letter
in the form of Exhibit C providing instructions for the distribution of funds to Public Stockholders who exercise their
conversion rights in connection with such Amendment; and

 

(g)          Provide the Representative with a copy of any Termination Letter, Amendment Notification Letter, and/or any other correspondence
that it issues to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after such issuance.

 

4.             Limitations of Liability. The Trustee shall have no responsibility or liability to:

 

(a)          Take any action with respect to the Property, other than as directed in Sections 1 and 2 hereof, and the Trustee
shall have no liability to any party except for liability arising out of the Trustee’s gross negligence, fraud or willful
misconduct;

 

(b)          Institute any proceeding for the collection of any principal and income arising from, or institute, appear in, or defend
any proceeding of any kind with respect to, any of the Property unless and until the Trustee shall have received instructions from
the Company given as provided herein to do so and the Company shall have advanced or guaranteed to it funds sufficient to pay any
expenses incident thereto;

 

(c)          Change the investment of any Property, other than in compliance with Section 1(c);

 

(d)          Refund any depreciation in principal of any Property;

 

(e)          Assume that the authority of any person designated by the Company to give instructions hereunder shall not be continuing
unless provided otherwise in such designation, or unless the Company shall have delivered a written revocation of such authority
to the Trustee;

 

(f)           The other parties hereto or to anyone else for any action taken or omitted by the Trustee, or any action suffered by the
Trustee to be taken or omitted, in good faith and in the exercise of the Trustee’s best judgment, except for the Trustee’s
gross negligence, fraud or willful misconduct. The Trustee may rely conclusively and shall be protected in acting upon any order,
notice, demand, certificate, opinion, or advice of counsel (including counsel chosen by the Trustee), statement, instrument, report,
or other paper or document (not only as to its due execution and the validity and effectiveness of its provisions, but also as
to the truth and acceptability of any information therein contained) which is believed by the Trustee, in good faith and with reasonable
care, to be genuine and to be signed or presented by the proper person or persons. The Trustee shall not be bound by any notice
or demand, or any waiver, modification, termination, or rescission of this Agreement or any of the terms hereof, unless evidenced
by a written instrument delivered to the Trustee signed by the proper party or parties and, if the duties or rights of the Trustee
are affected, unless it shall give its prior written consent thereto;

 

     

     

    

 

(g)          Verify the correctness of the information set forth in the Registration Statement or to confirm or assure that any Business
Combination consummated by the Company or any other action taken by it is as contemplated by the Registration Statement;

 

(h)          File local, state, and/or federal tax returns or information returns with any taxing authority on behalf of the Trust Account
or deliver payee statements to the Company documenting the taxes, if any, payable by the Company or the Trust Account, relating
to the income earned on the Property;

 

(i)           Pay any taxes on behalf of the Trust Account (it being expressly understood that the Property shall not be used to pay any
such taxes and that such taxes, if any, shall be paid by the Company from funds not held in the Trust Account or released to it
under Section 2(a) hereof);

 

(j)           Imply obligations, perform duties, inquire, or otherwise be subject to the provisions of any agreement or document other
than this agreement and that which is expressly set forth herein; or

 

(k)          Verify calculations, qualify, or otherwise approve Company requests for distributions pursuant to Sections 1(i),
1(j), or 2(a) above.

 

5.             Trust Account Waiver. The Trustee has no right of set-off or any right, title, interest or claim of any kind (“Claim”)
to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account
that it may have now or in the future. In the event the Trustee has any Claim against the Company under this Agreement, including,
without limitation, under Section 3(b) or Section 3(c) hereof, the Trustee shall pursue such Claim solely against
the Company and its assets outside the Trust Account and not against the Property or any monies in the Trust Account.

 

6.             Termination. This Agreement shall terminate as follows:

 

(a)          If the Trustee gives written notice to the Company that it desires to resign under this Agreement, the Company shall use
its reasonable efforts to locate a successor trustee during which time the Trustee shall act in accordance with this Agreement.
At such time that the Company notifies the Trustee that a successor trustee has been appointed by the Company and has agreed to
become subject to the terms of this Agreement, the Trustee shall transfer the management of the Trust Account to the successor
trustee, including but not limited to the transfer of copies of the reports and statements relating to the Trust Account, whereupon
this Agreement shall terminate; provided, however, that, in the event that the Company does not locate a successor trustee within
ninety (90) days of receipt of the resignation notice from the Trustee, the Trustee may submit an application to have the Property
deposited with any court in the State of New York or with the United States District Court for the Southern District of New York
and upon such deposit, the Trustee shall be immune from any liability whatsoever; or

 

(b)          At such time that the Trustee has completed the liquidation of the Trust Account in accordance with the provisions of Section
1(i) hereof, and distributed the Property in accordance with the provisions of the Termination Letter, this Agreement shall
terminate except with respect to Section 3(b) and Section 5.

 

7.             Miscellaneous.

 

(a)          The Company and the Trustee will each restrict access to confidential information relating to funds being transferred to
or from the Trust Account to authorized persons. Each party must notify the other party immediately if it has reason to believe
unauthorized persons may have obtained access to such information, or of any change in its authorized personnel. In executing funds
transfers, the Trustee will rely upon all information supplied to it by the Company, including account names, account numbers,
and all other identifying information relating to a beneficiary, beneficiary’s bank, or intermediary bank. Except for any
liability arising out of the Trustee’s gross negligence, fraud or willful misconduct, the Trustee shall not be liable for
any loss, liability, or expense resulting from any error in the information supplied to it or funds transferred based on such information.

 

     

     

    

 

(b)          This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without
giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
The parties hereto consent to the jurisdiction and venue of any state or federal court located in the City of New York, Borough
of Manhattan, for purposes of resolving any disputes hereunder. As to any claim, cross-claim, or counterclaim in any way relating
to this Agreement, each party waives the right to trial by jury.

 

(c)          This Agreement may be executed in several original or facsimile counterparts, each one of which shall constitute an original,
and together shall constitute but one instrument.

 

(d)          This Agreement contains the entire agreement and understanding of the parties hereto with respect to the subject matter
hereof. Except for Sections 1(i) and 1(j) (which sections may not be modified, amended or deleted without the affirmative vote
of a majority of the then outstanding shares of Common Stock and Class B common stock, par value $0.0001 per share, of the Company
voting together as a single class; provided that no such amendment will affect any Public Stockholder who has otherwise indicated
his, her or its election to convert his, her or its shares of Common Stock in connection with a stockholder vote sought to amend
this Agreement, including a corresponding change to the Company’s Certificate of Incorporation), this Agreement or any provision
hereof may only be changed, amended or modified by a writing signed by each of the parties hereto; provided, however, that no such
change, amendment or modification may be made without the prior written consent of the Representative. The Trustee may require
from Company counsel an opinion as to the propriety of any proposed amendment.

 

(e)          Any notice, consent or request to be given in connection with any of the terms or provisions of this Agreement shall be
in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested),
by hand delivery, by email or by facsimile transmission:

 

if to the Trustee, to:

 

Continental Stock Transfer & Trust
Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

Email: fwolf@continentalstock.com

Email: cgonzalez@continentalstock.com

 

if to the Company, to:

 

DD3 Acquisition Corp. II

Pedregal 24, 3rd Floor, Interior 300

Colonia Molino del Rey, Del. Miguel
Hidalgo

11040 Mexico City, Mexico

Attn: Martin Werner

Email: martin.werner@dd3.mx

 

in either case with a copy (which copy shall
not constitute notice) to:

 

Greenberg Traurig,
P.A.

333 S.E. 2nd Avenue

Miami, FL 33131

Attn: Alan I. Annex, Esq.

Email: annexa@gtlaw.com

 

     

     

    

 

and

 

EarlyBirdCapital, Inc.

366 Madison Avenue, 8th Floor

New York, NY 10017

Attn: Steven Levine

Email: slevine@ebccap.com

 

and

 

Graubard Miller

The Chrysler Building

405 Lexington Avenue

New York, New York 10174

Attn: David Alan Miller, Esq.

Email: dmiller@graubard.com

 

(f)           This Agreement may not be assigned by the Trustee without the prior consent of the Company.

 

(g)          Each of the Trustee and the Company hereby represents that it has the full right and power and has been duly authorized
to enter into this Agreement and to perform its respective obligations as contemplated hereunder.

 

(h)          Each of the Company and the Trustee hereby acknowledge that the Representative is a third party beneficiary of this Agreement.

 

[Signature Page Follows]

 

     

     

    

 

IN WITNESS WHEREOF,
the parties have duly executed this Investment Management Trust Agreement as of the date first written above.

 

	 	CONTINENTAL
    STOCK TRANSFER
 & TRUST COMPANY, as Trustee
	 	 	 
		By:	/s/
        Francis Wolf  

	 	 	Name:  Francis
    Wolf
	 	 	Title:    Vice
    President
	 	 	 
	 	DD3
    ACQUISITION CORP. II
	 	 	 
		By:	/s/
        Martin Werner  

	 	 	Name:  Martin
    Werner
	 	 	Title:    Chief
    Executive Officer

 

[Signature Page to Investment Management
Trust Agreement]

 

     

     

    

 

SCHEDULE A

 

	Fee Item	Time and method of payment	 	Amount
	Initial acceptance fee	Initial closing of IPO by wire transfer	$	3,500.00
	Annual fee	First year, initial closing of IPO by wire transfer; thereafter on the anniversary of the effective date of the IPO by wire transfer or check	 	 
	 	$	10,000.00
	Transaction processing fee for disbursements to Company under Section 2	Billed to Company following disbursement made to Company under Section 2	
        $

        
	
        250.00 

	
        Paying Agent services as required pursuant to Sections
1(i) and 1(j)

        
	Billed to Company upon delivery of service pursuant to Section 1(i) and 1(j)	 	Prevailing rates

 

     

     

    

 

EXHIBIT A

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer
& Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste
Gonzalez

 

Re: Trust Account
– Termination Letter

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section
1(i) of the Investment Management Trust Agreement between DD3 Acquisition Corp. II (“Company”) and Continental
Stock Transfer & Trust Company, dated as of _________, 2020 (“Trust Agreement”), this is to advise you that
the Company has entered into an agreement with [  ] (the “Target Business”) to consummate a business
combination with the Target Business (“Business Combination”) on or about [insert date]. The Company shall notify
you at least 72 hours in advance (or such shorter time as you may agree) of the actual date of the consummation of the Business
Combination (“Consummation Date”). Capitalized terms used herein and not otherwise defined shall have the meanings
set forth in the Trust Agreement.

 

In accordance with
the terms of the Trust Agreement, we hereby authorize you to commence to liquidate all of the assets of the Trust Account and transfer
the proceeds to a segregated account held by you on behalf of the Beneficiaries to the effect that, on the Consummation Date, all
of the funds held in the trust operating account at JP Morgan Chase Bank, N.A. (the “Trust Operating Account”)
will be immediately available for transfer to the account or accounts that the Company shall direct on the Consummation Date. It
is acknowledged and agreed that while the funds are on deposit in the Trust Operating Account awaiting distribution, the Company
will not earn any interest or dividends.

 

On the Consummation
Date (i) counsel for the Company shall deliver to you written notification that the Business Combination has been consummated,
or will be consummated substantially concurrently with your transfer of funds to the accounts as directed by the Company (the “Notification”)
and (ii) the Company shall deliver to you (a) [an affidavit] [a certificate] by the Chief Executive Officer, which verifies that
the Business Combination has been approved by a vote of the Company’s stockholders, if a vote is held and (b) joint written
instructions from the Company and the Representative with respect to the transfer of the funds held in the Trust Account, including
payment of amounts owed to Public Stockholders who have properly exercised their conversion rights (“Instruction Letter”).
You are hereby directed and authorized to transfer the funds held in the Trust Account immediately upon your receipt of the Notification
and the Instruction Letter, in accordance with the terms of the Instruction Letter. In the event that certain deposits held in
the Trust Account may not be liquidated by the Consummation Date without penalty, you will notify the Company in writing of the
same and the Company shall direct you as to whether such funds should remain in the Trust Account and be distributed after the
Consummation Date to the Company. Upon the distribution of all the funds in the Trust Account, your obligations under the Trust
Agreement shall be terminated.

 

In the event that the
Business Combination is not consummated on the Consummation Date described in the notice thereof and we have not notified you on
or before the original Consummation Date of a new Consummation Date, then upon receipt by the you of written instructions from
the Company, the funds held in the Trust Account shall be reinvested as provided in the Trust Agreement on the business day immediately
following the Consummation Date as set forth in such notice as soon thereafter as possible.

 

    A-1 

     

    

 

	 	Very truly yours,
	 	 	 
	 	DD3 Acquisition Corp. II
	 	 	 
	 	By: 	  
	 	 	Name:
	 	 	Title:

 

AGREED TO AND ACKNOWLEDGED BY:

 

EARLYBIRDCAPITAL,
INC.

 

	By:	     	
	 	Name:	
	 	Title:	

  

    A-2 

     

    

 

EXHIBIT B

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer
& Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste
Gonzalez

 

Re: Trust Account
- Termination Letter

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section
1(i) of the Investment Management Trust Agreement between DD3 Acquisition Corp. II (“Company”) and Continental
Stock Transfer & Trust Company, dated as of _________, 2020 (“Trust Agreement”), this is to advise you that
the Company has been unable to effect a Business Combination with a target business within the time frame specified in the Company’s
Certificate of Incorporation, as described in the Company’s prospectus relating to its IPO. Capitalized terms used herein
and not otherwise defined shall have the meanings set forth in the Trust Agreement.

 

In accordance with
the terms of the Trust Agreement, we hereby authorize you to liquidate all of the assets in the Trust Account and transfer the
total proceeds into a segregated account held by you on behalf of the Beneficiaries to await distribution to the Public Stockholders.
The Company has selected [  , 20 ]1
as the effective date for the purpose of determining when the Public Stockholders will be entitled to receive their share of the
liquidation proceeds. You agree to be the Paying Agent of record and in your separate capacity as Paying Agent, agree to distribute
said funds directly to the Public Stockholders in accordance with the terms of the Trust Agreement and the Company’s Certificate
of Incorporation. Upon the distribution of all the funds in the Trust Account, your obligations under the Trust Agreement shall
be terminated.

 

	 	Very truly yours,
	 	 	 
	 	DD3 Acquisition Corp. II
	 	 	 
	 	By:	   
	 	 	Name:
	 	 	Title:

 

cc: EarlyBirdCapital, Inc.

 

 

1
24 months from the closing of the IPO or a later date, if extended.

 

    B-1 

     

    

 

EXHIBIT C

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer
& Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

 

Re: Trust Account
– Amendment Notification Letter

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section
1(j) of the Investment Management Trust Agreement between DD3 Acquisition Corp. II (“Company”) and Continental
Stock Transfer & Trust Company, dated as of _________, 2020 (“Trust Agreement”), this is to inform you that
in connection with the stockholder vote to approve an Amendment to the Company’s Certificate of Incorporation, Public Stockholders
holding [____] shares of the Company’s Common Stock have properly requested conversion of such shares for their pro rata
portion of the Property held in the Trust Account. Capitalized words used herein and not otherwise defined shall have the meanings
ascribed to them in the Trust Agreement.

 

In accordance with
the terms of the Trust Agreement, we hereby authorize you to liquidate such investments in the Trust Account on [  ,
20 ], as required to pay an aggregate of $[_________], or $[_________] per share, to the Public Stockholders that have properly
requested conversion of their shares of Common Stock for their pro rata portion of the Property held in Trust Account and to transfer
the total proceeds into the trust operating account at JP Morgan Chase Bank, N.A. to await distribution to such Public Stockholders.
You agree to be the Paying Agent of record and, in your separate capacity as Paying Agent, agree to distribute said funds directly
to the Public Stockholders that have properly requested conversion of their shares of the Company’s Common Stock in accordance
with the terms of the Trust Agreement and the Company’s Certificate of Incorporation.

 

	 	Very truly yours,
	 	 	 
	 	DD3 Acquisition Corp. II
	 	 	 
	 	By:	   
	 	 	Name:
	 	 	Title:

 

cc: EarlyBirdCapital, Inc.

 

    C-1 

     

    

 

EXHIBIT D

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer
& Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

 

Re: Trust Account
– Withdrawal Instruction

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section
2(a) of the Investment Management Trust Agreement between DD3 Acquisition Corp. II (“Company”) and Continental
Stock Transfer & Trust Company, dated as of _________, 2020 (“Trust Agreement”), the Company hereby requests
that you deliver to the Company $[____] of the interest income earned on the Property as of the date hereof. Capitalized words
used herein and not otherwise defined shall have the meanings ascribed to them in the Trust Agreement.

 

The Company needs such
funds [to pay for the tax obligations as set forth on the attached tax return or tax statement]. In accordance with the terms of
the Trust Agreement, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt
of this letter to the Company’s operating account at:

 

[WIRE INSTRUCTION INFORMATION]

 

	 	Very truly yours,
	 	 	 
	 	DD3 Acquisition Corp. II
	 	 	 
	 	By:	   
	 	 	Name:
	 	 	Title:

 

cc: EarlyBirdCapital, Inc.

 

    D-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00317-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00317-of-00352.parquet"}]]