<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2022-06-24</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001835512</issuerCik>
        <issuerName>Terran Orbital Corp</issuerName>
        <issuerTradingSymbol>LLAP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001453885</rptOwnerCik>
            <rptOwnerName>Beach Point Capital Management LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1620 26TH STREET, STE. 6000N</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SANTA MONICA</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>90404</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001455152</rptOwnerCik>
            <rptOwnerName>Beach Point GP LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1620 26TH STREET, STE. 6000N</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SANTA MONICA</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>90404</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
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            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001537618</rptOwnerCik>
            <rptOwnerName>Beach Point Advisors LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1620 26TH STREET, SUITE 6000N</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SANTA MONICA</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>90404</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
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            <isOfficer>0</isOfficer>
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            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001770106</rptOwnerCik>
            <rptOwnerName>Klein Scott Martin</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1620 26TH STREET, SUITE 6000N</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SANTA MONICA</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>90404</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
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            <isOfficer>0</isOfficer>
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            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001226862</rptOwnerCik>
            <rptOwnerName>GOLDSMITH CARL H</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1620 26TH STREET, SUITE 6000N</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SANTA MONICA</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>90404</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
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            <isOfficer>0</isOfficer>
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            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001584342</rptOwnerCik>
            <rptOwnerName>Beach Point SCF IV LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1620 26TH STREET, SUITE 6000N</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SANTA MONICA</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>90404</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
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            <isOfficer>0</isOfficer>
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            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001575619</rptOwnerCik>
            <rptOwnerName>Beach Point SCF Multi-Port LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1620 26TH STREET, SUITE 6000N</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SANTA MONICA</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>90404</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
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            <isOfficer>0</isOfficer>
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            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001709957</rptOwnerCik>
            <rptOwnerName>Beach Point TX SCF LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1620 26TH STREET, SUITE 6000N</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SANTA MONICA</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>90404</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
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            <isOfficer>0</isOfficer>
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            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

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                <value>2022-07-07</value>
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                <transactionFormType>4</transactionFormType>
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                    <value>2226879</value>
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                <value>Common stock</value>
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                    <value>2223533</value>
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                <value>Common stock</value>
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                    <value>2222050</value>
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                    <value>By: Beach Point SCF Multi-Port LP</value>
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            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common stock</value>
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                <value>2022-07-14</value>
            </transactionDate>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
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                <transactionShares>
                    <value>1090</value>
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                    <value>D</value>
                </transactionAcquiredDisposedCode>
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                <sharesOwnedFollowingTransaction>
                    <value>2220960</value>
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                <directOrIndirectOwnership>
                    <value>I</value>
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                    <value>By: Beach Point SCF Multi-Port LP</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common stock</value>
            </securityTitle>
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                <value>2022-07-15</value>
            </transactionDate>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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                <transactionShares>
                    <value>1484</value>
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                <transactionPricePerShare>
                    <value>4.55</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
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                <sharesOwnedFollowingTransaction>
                    <value>2219476</value>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
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                    <value>By: Beach Point SCF Multi-Port LP</value>
                </natureOfOwnership>
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    </nonDerivativeTable>

    <remarks>(1) The reported securities are owned by Beach Point SCF IV LLC (&quot;SCF IV&quot;), Beach Point SCF Multi-Port LP (&quot;SCF Multi&quot;), and Beach Point TX SCF LP (&quot;TX&quot; and collectively with SCF IV and SCF Multi, the &quot;Funds&quot;). The Funds may be deemed a &quot;group&quot; for purposes of Section 13(d) of the Exchange Act. (2) Beach Point Capital Management LP is the investment manager of each of the Funds (&quot;Investment Manager&quot;) and Beach Point GP LLC (&quot;Beach Point GP&quot;) is the general partner of the Investment Manager. In such capacities, Investment Manager and Beach Point GP may be deemed to share voting and dispositive power over the reported securities held by the Funds. Investment Manager and Beach Point GP each disclaims beneficial ownership of the reported securities, and this report shall not be deemed an admission that either is the beneficial owner of the reported securities, except to the extent of pecuniary interest, if any, therein. (3) Beach Point Advisors LLC, a Delaware limited liability company (&quot;Fund GP&quot;), is the General Partner or Managing Member of each of the Funds and Scott Klein and Carl Goldsmith are the members of the Fund GP and may be deemed to beneficially own the securities held by the Funds. Notwithstanding the foregoing, the Fund GP, Mr. Klein and Mr. Goldsmith each disclaims beneficial ownership of the reported securities and this report shall not be deemed an admission that any of the foregoing is the beneficial owner of the reported securities except to the extent of its or his respective pecuniary interest, if any, therein.</remarks>

    <ownerSignature>
        <signatureName>Beach Point Capital Management LP /s/Lawrence M. Goldman By: Lawrence M. Goldman Chief Administrative Officer and General Counsel</signatureName>
        <signatureDate>2022-07-15</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Beach Point GP LLC /s/Lawrence M. Goldman By: Lawrence M. Goldman Authorized Signatory</signatureName>
        <signatureDate>2022-07-15</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Beach Point Advisors LLC /s/Lawrence M. Goldman By: Lawrence M. Goldman Authorized Signatory</signatureName>
        <signatureDate>2022-07-15</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/Scott Klein By: Scott Klein</signatureName>
        <signatureDate>2022-07-15</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Carl Goldsmith By: Carl Goldsmith</signatureName>
        <signatureDate>2022-07-15</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Beach Point SCF IV LLC By: Beach Point Capital Management LP, its Investment Manager /s/Lawrence M. Goldman By: Lawrence M. Goldman Chief Administrative Officer and General Counsel</signatureName>
        <signatureDate>2022-07-15</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Beach Point SCF Multi-Port LP By: Beach Point Capital Management LP, its Investment Manager /s/Lawrence M. Goldman By: Lawrence M. Goldman Chief Administrative Officer and General Counsel</signatureName>
        <signatureDate>2022-07-15</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Beach Point TX SCF LP By: Beach Point Capital Management LP, its Investment Manager /s/Lawrence M. Goldman By: Lawrence M. Goldman Chief Administrative Officer and General Counsel</signatureName>
        <signatureDate>2022-07-15</signatureDate>
    </ownerSignature>
</ownershipDocument>
