The speech here is directed to the Prophet (saws). The One to be sought for refuge and protection is Allah (swt), the Lord of daybreak.
There are four things we seek protection from that are mentioned in the following verses of this Surah.
الْفَلَقِ (daybreak): The Arabic word means to rip open a thing and something comes out of it. It could be the morning when its light breaks or its rays tear through darkness. The light is the source of guidance by which we walk righteously and with insight. Or it could mean what rips open and new life comes out to existence from it. Such as in Allah’s (swt) saying:
﴾إِنَّ اللَّهَ فَالِقُ الْحَبِّ وَالنَّوَىٰ﴿
(Indeed, Allah is the cleaver of grain and date seeds.) (Al-An’aam: 95)
Hence, the Lord of daybreak is the Lord of this existence, Who has originated, created, multiplied and evolved. He (swt) is the first and the most deserving to seek refuge and protection in Him.