Nabors Energy Transition Corp. Announces Stockholder Approval of Extension of Deadline to Complete Initial Business Combination

HOUSTON, Dec. 8, 2023 /PRNewswire/ — Nabors Energy Transition Corp. (“NETC” or the “Company”) (NYSE: NETC, NETC.WS, NETC.U) announced today that, at a special meeting of NETC stockholders held on December 8, 2023 (the “Extension Meeting”), its stockholders approved an extension of the date by which it has to consummate its initial business combination, allowing the Company’s board of directors, without another stockholder vote, to extend such date up to three times for an additional one month each time (but in no event to a date later than 28 months from the closing of NETC’s initial public offering) (each such month, a “Monthly Extension Period”) by depositing $200,000 for each Monthly Extension Period into the Company’s trust account for its public stockholders. The Company will only file the third amended and restated certificate of incorporation to implement the extension (the “Extension Amendment”) if its previously announced initial business combination (the “Business Combination”) with Vast Renewables Limited (f/k/a Vast Solar Pty Ltd) (“Vast”) is not consummated by December 18, 2023, which has been submitted to a vote of NETC stockholders scheduled for December 13, 2023 (the “Business Combination Meeting”).  To the extent the Business Combination is consummated before the Extension Amendment is filed and effective, a stockholder who validly exercised its redemption rights in accordance with the Extension Meeting will be deemed to have validly elected to redeem such shares in connection with the Business Combination Meeting.

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