# EDGAR Filing Document

**Accession Number:** 0001854458
**File Stem:** 0001104659-23-021976
**Filing Date:** 2023-2
**Character Count:** 1016861
**Document Hash:** 2151360cd39e8927bce9e25f85963660
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-021976.hdr.sgml**: 20230214

**ACCESSION NUMBER**: 0001104659-23-021976

**CONFORMED SUBMISSION TYPE**: 425

**PUBLIC DOCUMENT COUNT**: 60

**FILED AS OF DATE**: 20230214

**DATE AS OF CHANGE**: 20230214

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Nabors Energy Transition Corp.
- **CENTRAL INDEX KEY:** 0001854458
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **IRS NUMBER:** 862916523
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 425
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41073
- **FILM NUMBER:** 23631791

**BUSINESS ADDRESS:**
- **STREET 1:** 515 W. GREENS ROAD
- **STREET 2:** SUITE 1200
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77067
- **BUSINESS PHONE:** (281) 874-0034

**MAIL ADDRESS:**
- **STREET 1:** 515 W. GREENS ROAD
- **STREET 2:** SUITE 1200
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77067
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Nabors Energy Transition Corp.
- **CENTRAL INDEX KEY:** 0001854458
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **IRS NUMBER:** 862916523
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 425

**BUSINESS ADDRESS:**
- **STREET 1:** 515 W. GREENS ROAD
- **STREET 2:** SUITE 1200
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77067
- **BUSINESS PHONE:** (281) 874-0034

**MAIL ADDRESS:**
- **STREET 1:** 515 W. GREENS ROAD
- **STREET 2:** SUITE 1200
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77067

**UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION<br> Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of <br> the Securities Exchange Act of 1934**

Date of report (Date of earliest event reported): February 14, 2023

**Nabors Energy Transition Corp.**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Delaware** | &nbsp;&nbsp;**001-41073** | &nbsp;&nbsp;**86-2916523** |
| &nbsp;&nbsp;(State or other jurisdiction of<br> incorporation or organization) | &nbsp;&nbsp;(Commission File Number) | &nbsp;&nbsp;(I.R.S. Employer <br> Identification Number) |

---

---

| |
|:---|
| &nbsp;&nbsp;**515 West Greens Road, Suite 1200** <br> **Houston, Texas 77067** |
| &nbsp;&nbsp;(Address of principal executive offices, including zip code) |

---

---

| |
|:---|
| &nbsp;&nbsp;Registrant's telephone number, including area code: **(281) 874-0035** |
| &nbsp;&nbsp;**Not Applicable** |
| &nbsp;&nbsp;(Former name or former address, if changed since last report) |

---

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation to the registrant under any of the following provisions:

⌧ Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange<br> on which registered** |
| Units, each consisting of one share of Class A common stock and one-half of one warrant | NETC.U | The New York Stock Exchange |
| Class A common stock, par value $0.0001 per share | NETC | The New York Stock Exchange |
| Warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per share | NETC.WS | The New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company ⌧

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

Item 1.01 Entry into a Material Definitive Agreement.

**Business Combination Agreement and Plan of Reorganization**

On February 14, 2023, Nabors Energy Transition Corp. ("<u>NETC</u>"), Vast Solar Pty Ltd, an Australian proprietary company limited by shares ("<u>Vast</u>"), NEPTUNE MERGER SUB, INC., a Delaware corporation and wholly owned subsidiary of Vast ("<u>Merger Sub</u>"), Nabors Energy Transition Sponsor LLC, a Delaware limited liability company ("<u>NETC Sponsor</u>"), and Nabors Industries Ltd. ("<u>Nabors</u>") entered into a Business Combination Agreement (the "<u>Business Combination Agreement</u>," and the transactions contemplated thereby, the "<u>Business Combination</u>"), pursuant to which, among other things and subject to the terms and conditions contained therein, Merger Sub will merge with and into NETC (the "<u>Merger</u>"), with NETC continuing as the surviving corporation (the "<u>Surviving Corporation</u>") and a wholly owned direct subsidiary of Vast.

Immediately prior to the Merger, the MEP Share Conversion (as defined below), the Existing Convertible Note Conversion (as defined below) and a conversion of ordinary shares in Vast (the "<u>Vast Ordinary Shares</u>") (whether by way of subdivision or consolidation) (the "<u>Vast Split Adjustment</u>") will be undertaken whereby the amount of all Vast Ordinary Shares outstanding immediately after such corporate actions will be 20,500,000 (subject to certain adjustments) to be effective at the effective time of the Merger (the "<u>Effective Time</u>").

**Exchange and Conversion of Securities**

At or around the time of undertaking the Vast Split Adjustment and the Existing Convertible Note Conversion, Vast will cause each share or other awards granted under Vast's existing Management Equity Plan Deed (such shares and awards, the "<u>MEP Shares</u>") that is outstanding immediately prior to such time to be settled by the conversion of those MEP Shares into Vast Ordinary Shares (the "<u>MEP Share Conversion</u>").

At the Effective Time, by virtue of the Merger and without any action on the part of NETC, Vast, Merger Sub or any of the holders of any of their securities, the following events will take place simultaneously:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· all shares of NETC Class A common stock, par value $0.0001 per share (the " <u>NETC Class A Common Stock</u> "), NETC Class
B common stock, par value $0.0001 per share (the " <u>NETC Class B Common Stock</u> "), and NETC Class F common stock, par value
$0.0001 per share (the " <u>NETC Class F Common Stock</u> " and together with the NETC Class B Common Stock and the NETC Class
A Common Stock issued upon conversion of the NETC Class B Common Stock, the " <u>Founder Shares</u> "), held in the treasury
of NETC will be canceled without any conversion thereof and no payment of distribution will be made with respect thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· (i) each share of NETC Class A Common Stock (other than the Redemption Shares as described below)
issued and outstanding immediately prior to the Effective Time will be exchanged for one
validly issued and fully paid Vast Ordinary Share, (ii) each share of NETC Class F Common Stock and NETC Class B Common Stock held by
(A) NETC Sponsor and (B) any person to whom the NETC Sponsor has transferred shares of NETC Class F Common Stock or
NETC Class B Common Stock immediately prior to the Effective Time will be collectively exchanged
for 2,825,000 validly issued and fully paid Vast Ordinary Shares, (iii) each share of NETC Class B Common Stock not held by (A) NETC Sponsor
or (B) any person who received shares of NETC Class B Common Stock from NETC Sponsor immediately prior to the Effective Time will be exchanged for one validly issued and fully paid Vast Ordinary Share, and (iv) each share of NETC
Class F Common Stock not held by (A) NETC Sponsor or (B) any person who received shares of Class F Common Stock from NETC Sponsor immediately
prior to the Effective Time will be exchanged for one validly issued and fully paid Vast
Ordinary Share, in each case, after giving effect to the Vast Split Adjustment (collectively, the " <u>Per Share Merger Consideration</u> ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· each share of common stock, par value $0.0001 per share, of Merger Sub issued and outstanding immediately prior to the Effective Time
will be converted into one validly issued, fully paid and non-assessable share of common stock of the Surviving Corporation and will constitute
the only outstanding shares of capital stock of the Surviving Corporation as of immediately after the Effective Time; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Vast will assume (i) the Private Warrant Agreement,
dated as of November 16, 2021, by and between NETC and Continental Stock Transfer & Trust Company, as warrant agent (the " <u>Private Warrant Agreement</u> "), and (ii) the Public Warrant Agreement, dated as of November 16, 2021, by and between NETC and Continental
Stock Transfer & Trust Company, as warrant agent (the " <u>Public Warrant Agreement</u>," and together with the Private
Warrant Agreement, the " <u>NETC Warrant Agreements</u> "), and each warrant granted thereunder (the " <u>NETC Warrants</u> ")
then outstanding and unexercised will automatically, without any action on the part of its
holder, be converted into a warrant to acquire a number of Vast Ordinary Shares (each resulting warrant, a " <u>Vast Warrant</u> ").
Each Vast Warrant will be subject to the same terms and conditions (including exercisability
terms) as were applicable to the corresponding NETC Warrant immediately prior to the Effective Time, except to the extent such terms or
conditions are rendered inoperative by the Business Combination. Accordingly, effective as of the Effective Time: (I) each Vast Warrant will be exercisable solely for Vast Ordinary Shares; (II) the number of Vast Ordinary Shares
subject to each Vast Warrant will be equal to (x) the number of shares of NETC Class A Common
Stock subject to the applicable NETC Warrant; and (III) the per share exercise price for the Vast Ordinary Shares issuable upon exercise
of such Vast Warrant will be equal to (x) the per share exercise price for the shares of
NETC Class A Common Stock subject to the applicable NETC Warrant, as in effect immediately prior to the Effective Time. Vast will take all corporate action necessary to reserve for future issuance, and will maintain
such reservation for so long as any of the Vast Warrants remain outstanding, a sufficient number of Vast Ordinary Shares for delivery
upon the exercise of such Vast Warrants.

Each share of NETC Class A Common Stock issued and outstanding immediately prior to the Effective Time with respect to which a NETC stockholder has validly exercised its redemption rights ("<u>Redemption Rights</u>") provided for in NETC's amended and restated certificate of incorporation (the "<u>NETC Charter</u>") (i) will be redeemed immediately prior to the Effective Time (such shares, the "<u>Redemption Shares</u>") and will be converted into the right to receive from NETC, in cash, an amount per share calculated in accordance with such stockholder's Redemption Rights and (ii) will not be entitled to receive the Per Share Merger Consideration.

In the event that the NETC Class A Common Stock and NETC Warrants comprising a single unit of NETC sold in NETC's initial public offering of units (the "<u>NETC IPO</u>" and such units the "<u>NETC Units</u>") have not been detached so as to permit separate transferability or trading prior to the Effective Time, then effective immediately prior to the Effective Time, any and all NETC Units will be automatically detached and broken out into their constituent parts, such that a holder of one NETC Unit will hold one share of NETC Class A Common Stock and one-half of one NETC Warrant, and the underlying NETC Class A Common Stock and NETC Warrants will be converted in accordance with the Business Combination Agreement. However, if the detachment would result in a holder of a NETC Warrant, sold as part of the NETC Units in the NETC IPO holding a fractional NETC Warrant, then prior to the conversion the number of NETC Warrants deemed to be held by such holder will be rounded down to the nearest whole number.

**Earn-Out**

During the period between the date that is seventy (70) days after the closing of the Business Combination (the "<u>Closing</u>," and such date, the "<u>Closing Date</u>") and the five-year anniversary of the Closing Date (the "<u>Earnout Period</u>"), Vast will issue to eligible Vast shareholders up to 2,799,999 additional Vast Ordinary Shares in the aggregate (the "<u>Earnout Shares</u>"), consisting of (i) up to 1,299,999 additional Vast Ordinary Shares in the aggregate issued (a) upon satisfaction of certain share price targets set forth in the Business Combination Agreement, which price targets will be based upon the daily volume-weighted average closing sale price of one Vast Ordinary Share quoted on the New York Stock Exchange (the "<u>NYSE</u>") (or the exchange on which the Vast Ordinary Shares are then listed), for any twenty (20) trading days within any thirty (30) consecutive trading day period within the Earnout Period or (b) upon a Change of Control (as defined in the Business Combination Agreement) pursuant to which Vast or its shareholders has the right to receive consideration implying a value per Vast Ordinary Share equal to or above the share price targets set forth in the Business Combination Agreement, and (ii) 1,500,000 additional Vast Ordinary Shares issued upon the achievement of certain project milestones or upon a Change of Control.

While Vast must use its reasonable best efforts to do all things necessary (including obtaining any shareholder or other approvals required under applicable Laws, including the Australian Corporations Act 2001 (Cth) (the "<u>Corporations Act</u>")) to issue Earnout Shares, if certain Earnout Shares cannot be issued within three (3) months of an entitlement to them arising or if an issue of Earnout Shares is subsequently unwound by order of a court or other governmental authority, Vast must instead pay an amount of cash to the affected eligible Vast shareholder in an amount up to the value of the unissued Earnout Shares as defined in accordance with the Business Combination Agreement.

**Representations, Warranties and Covenants**

The Business Combination Agreement contains customary representations, warranties and covenants of (a) NETC and (b) Vast and Merger Sub relating to, among other things, their ability to enter into the Business Combination Agreement and their outstanding capitalization.

**Conditions to Closing**

The obligations of NETC, Merger Sub and Vast to consummate the Business Combination are subject to the satisfaction or waiver (where permissible) at or prior to the Closing of each of the following mutual conditions:

&nbsp;&nbsp;&nbsp;&nbsp;· the Business Combination will have been approved and adopted by the requisite affirmative vote of the NETC stockholders in accordance
with the proxy statement to be filed in connection with such approval, the Delaware General Corporation Law, NETC's organizational
documents and the rules and regulations of the NYSE;

&nbsp;&nbsp;&nbsp;&nbsp;· no governmental authority will have enacted, issued, promulgated, enforced or entered any law, rule, regulation, judgment, decree,
executive order or award which is then in effect and has the effect of making the Business Combination illegal or otherwise prohibiting
consummation of the Business Combination;

&nbsp;&nbsp;&nbsp;&nbsp;· if it is deemed by the parties after obtaining their own respective legal advice that a Foreign Investment Review Board (FIRB) filing
is required: (A) NETC will have received a written notice under the Australian Foreign Acquisitions and Takeovers Act 1975 (Cth) (the
" <u>FATA</u> "), by or on behalf of the Treasurer of the Commonwealth of Australia stating or to the effect that the Commonwealth
Government of Australia does not object to the Business Combination, either unconditionally or on terms that are reasonably acceptable
to NETC and Vast (it being understood that the imposition of customary tax conditions in connection with the Foreign Investment Review
Board of Australia approval will be deemed acceptable), (B) the Treasurer of the Commonwealth of Australia will have become precluded
from making an order in relation to the subject matter of the Business Combination Agreement and the Business Combination under the FATA
or (C) if an interim order is made under the FATA in respect of the Business Combination, the subsequent period for making a final order
prohibiting the Business Combination will have elapsed without a final order being made;

&nbsp;&nbsp;&nbsp;&nbsp;· the Vast Ordinary Shares will have been accepted for listing on the NYSE (subject to the Closing occurring), or, if Vast does not
meet the initial listing requirements of the NYSE as of immediately prior to the Closing, the NYSE American securities exchange or another
national securities exchange mutually agreed to by the parties in writing, as of the Closing Date;

&nbsp;&nbsp;&nbsp;&nbsp;· the Vast Ordinary Shares will not constitute "penny stock" as such term is defined in Rule 3a51-1 of the Securities Exchange
Act of 1934, as amended (the " <u>Exchange Act</u> ");

&nbsp;&nbsp;&nbsp;&nbsp;· the registration statement on Form F-4 to be filed by Vast in connection with the Business Combination (the " <u>Registration Statement</u> ") will have been declared effective under the Securities Act of 1933, as amended (the " <u>Securities Act</u> ").
No stop order suspending the effectiveness of the Registration Statement will be in effect, and no proceedings for purposes of suspending
the effectiveness of the Registration Statement will have been initiated or be threatened in writing by the Securities and Exchange Commission
(the " <u>SEC</u> "); and

&nbsp;&nbsp;&nbsp;&nbsp;· the Vast Split Adjustment will have been implemented.

· the MEP Share Conversion will have been consummated.

The obligations of NETC to consummate the Business Combination are subject to the satisfaction or waiver (where permissible) at or prior to the Closing of the following additional conditions:

&nbsp;&nbsp;&nbsp;&nbsp;· the accuracy of the representations and warranties of Vast as determined in accordance with the Business Combination Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;· the accuracy of the representations and warranties of Merger Sub as determined in accordance with the Business Combination Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;· Vast and Merger Sub will have performed or complied in all material respects with all agreements and covenants required by the Business
Combination Agreement to be performed or complied with by it on or prior to the Closing;

&nbsp;&nbsp;&nbsp;&nbsp;· Vast will have delivered to NETC a customary officer's certificate, dated the date of the Closing, certifying as to the satisfaction
of certain conditions as they relate to Vast and Merger Sub;

&nbsp;&nbsp;&nbsp;&nbsp;· no Vast Material Adverse Effect (as defined in the Business Combination Agreement) will have occurred between the date of the Business
Combination Agreement and the Closing;

&nbsp;&nbsp;&nbsp;&nbsp;· all parties to the Shareholder and Registration Rights Agreement (as defined below) (other than NETC, NETC Sponsor and Nabors Lux
2 S.a.r.l., an affiliate of Nabors (" <u>Nabors Lux</u> ")), will have delivered, or cause to be delivered, to NETC copies of
the Shareholder and Registration Rights Agreement duly executed by all such parties; and

&nbsp;&nbsp;&nbsp;&nbsp;· the Existing Convertible Note Conversion will have been consummated.

The obligations of Vast and Merger Sub to consummate the Business Combination are subject to the satisfaction or waiver (where permissible) at or prior to the Closing of the following additional conditions:

&nbsp;&nbsp;&nbsp;&nbsp;· the accuracy of the representations and warranties of NETC as determined in accordance with the Business Combination Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;· NETC will have performed or complied in all material respects with all other agreements and covenants required by the Business Combination
Agreement to be performed or complied with by it on or prior to the Closing;

&nbsp;&nbsp;&nbsp;&nbsp;· NETC will have delivered to Vast a customary officer's certificate, dated the date of the Closing, certifying as to the satisfaction
of certain conditions;

&nbsp;&nbsp;&nbsp;&nbsp;· no NETC Material Adverse Effect (as defined in the Business Combination Agreement) will have occurred between the date of the Business
Combination Agreement and the Closing;

&nbsp;&nbsp;&nbsp;&nbsp;· the Support Agreement (as defined below) will be in full effect and force, and NETC Sponsor will not have attempted to repudiate or
disclaim any of its obligations thereunder; and

&nbsp;&nbsp;&nbsp;&nbsp;· Vast will have available at Closing cash and cash equivalents in an aggregate amount not less than $50,000,000, including (i) the
cash available to NETC in its trust account (the " <u>Trust Account</u> ") (after giving effect to (x) NETC's stockholder's
Redemption Rights and (y) any stock buyback tax incurred in respect of the proposals to approve the Business Combination or to extend
the term of NETC), (ii) cash and cash equivalents held by Vast and its subsidiaries as of immediately prior to the Closing, (iii) any
amounts or proceeds received pursuant to the Convertible Financing (as defined below) in connection with the Closing (for the avoidance
of doubt, excluding any amounts which have been previously funded prior to the Closing Date, except to the extent such amounts are held
by Vast and its subsidiaries as of immediately prior to the Closing), and (iv) any amounts or proceeds received pursuant to the PIPE Financing
(as defined below) in connection with the Closing, and after giving effect to the payment of any outstanding NETC and Vast transaction
expenses (the " <u>Minimum Cash Condition</u> ").

**Termination**

The Business Combination Agreement may be terminated, and the Business Combination may be abandoned at any time prior to the Effective Time, notwithstanding any requisite approval and adoption of the Business Combination Agreement and the Business Combination by the stockholders of NETC, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;· by mutual written consent of NETC and Vast;

&nbsp;&nbsp;&nbsp;&nbsp;· by NETC or Vast, if (i) the Closing will not have occurred prior to February 14, 2024 (the " <u>Outside Date</u> "), unless
such terminating party (or its affiliates) is in breach or violation of any representation, warranty, covenant, agreement or obligation
contained in the Business Combination Agreement and such breach or violation is the principal cause of the failure of a condition to the
Closing on or prior to the Outside Date; (ii) any governmental authority of competent jurisdiction has enacted, issued, promulgated, enforced
or entered any permanent injunction, order, decree or ruling which has become final and nonappealable and has the effect of making consummation
of the Business Combination illegal or otherwise preventing or prohibiting consummation of the Business Combination; or (iii) the requisite
approval by the NETC stockholders of the Business Combination at the NETC special stockholders' meeting is not obtained;

&nbsp;&nbsp;&nbsp;&nbsp;· by Vast, if NETC's board of directors or any committee thereof changes its recommendation with respect to the Business Combination;

&nbsp;&nbsp;&nbsp;&nbsp;· by NETC upon a breach of any representation, warranty, covenant or agreement on the part of Vast or Merger Sub set forth in the Business
Combination Agreement, or if any representation or warranty of Vast or Merger Sub will have become untrue, in either case such that the
conditions related to the Merger would not be satisfied (a " <u>Terminating Vast Breach</u> "); provided, that NETC has not
waived such Terminating Vast Breach and NETC is not then in material breach of its covenants or agreements in the Business Combination
Agreement; provided, further, that, if such Terminating Vast Breach is curable by Vast or Merger Sub, NETC may not terminate the Business
Combination Agreement for so long as Vast or Merger Sub continues to exercise its reasonable best efforts to cure such breach, unless
such breach is not cured within the earlier of (x) thirty (30) days after notice of such breach is provided by NETC to Vast and (y) the
Outside Date; or

&nbsp;&nbsp;&nbsp;&nbsp;· by Vast upon a breach of any representation, warranty, covenant or agreement on the part of NETC set forth in the Business Combination
Agreement, or if any representation or warranty of NETC will have become untrue, in either case such that the conditions related to the
Merger would not be satisfied (a " <u>Terminating NETC Breach</u> "); provided, that Vast has not waived such Terminating NETC
Breach and Vast or Merger Sub is not then in material breach of its covenants or agreements in the Business Combination Agreement; provided,
however, that, if such Terminating NETC Breach is curable by NETC, Vast may not terminate the Business Combination Agreement for so long
as NETC continue to exercise its reasonable best efforts to cure such breach, unless such breach is not cured within the earlier of (x)
thirty (30) days after notice of such breach is provided by Vast to NETC and (y) the Outside Date.

**Effect of Termination**

If the Business Combination Agreement is terminated, the Business Combination Agreement will become void and there will be no liability under the Business Combination Agreement on the part of any party, except in the case of a willful material breach of the Business Combination Agreement prior to such termination.

A copy of the Business Combination Agreement is filed with this Current Report on Form 8-K as Exhibit 2.1 and is incorporated herein by reference. The foregoing description of the Business Combination Agreement is qualified in its entirety by reference to the full text of the Business Combination Agreement filed with this Current Report on Form 8-K. The Business Combination Agreement is included to provide security holders with information regarding its terms. It is not intended to provide any other factual information about Vast, NETC or Merger Sub. In particular, the assertions embodied in representations and warranties by Vast, NETC and Merger Sub contained in the Business Combination Agreement are qualified by information in the disclosure schedules provided by the parties in connection with the signing of the Business Combination Agreement. These disclosure schedules contain information that modifies, qualifies and creates exceptions to the representations and warranties set forth in the Business Combination Agreement. Moreover, certain representations and warranties in the Business Combination Agreement were used for the purpose of allocating risk between the parties, rather than establishing matters as facts. Accordingly, security holders should not rely on the representations and warranties in the Business Combination Agreement as characterizations of the actual state of facts about Vast, NETC or Merger Sub.

**Support Agreement**

Concurrently with the signing of the Business Combination Agreement, NETC, NETC Sponsor, Vast, Nabors Lux and NETC's independent directors (together with NETC Sponsor and Nabors Lux, the "<u>Insiders</u>") entered into the Support Agreement (the "<u>Support Agreement</u>") pursuant to which, among other things, the Insiders agreed to (i) certain restrictions on the transfer of Founder Shares and NETC Warrants, (ii) vote all Founder Shares held by them in favor of the adoption and approval of the Business Combination Agreement, (iii) waive the anti-dilution rights set forth in the NETC Charter with respect to their Founder Shares and (iv) enter into the Shareholder and Registration Rights Agreement, and NETC Sponsor will have the right to be issued up to 3,900,000 additional Vast Ordinary Shares during the Earnout Period upon satisfaction of certain price targets set forth therein, which price targets will be based on the daily volume-weighted average closing sale price of one Vast Ordinary Share quoted on the NYSE (or the exchange on which the Vast Ordinary Shares are then listed), for any twenty (20) trading days within any thirty (30) consecutive trading day period within the Earnout Period.

The foregoing description of the Support Agreement is qualified in its entirety by reference to the full text of the Support Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K, and incorporated herein by reference.

**Shareholder and Registration Rights Agreement** 

Concurrently with the Closing, NETC, Vast, NETC Sponsor, Nabors Lux and the other holder parties thereto will enter into a shareholder and registration rights agreement (the "<u>Shareholder and Registration Rights Agreement</u>"), pursuant to which Vast will agree that, within sixty days of the Closing, Vast will file with the SEC (at Vast's sole cost and expense) a resale registration statement, and Vast will use its commercially reasonable efforts to have the such registration statement declared effective as soon as reasonably practicable after the filing thereof. In certain circumstances, the holders of certain securities held by or issuable to certain existing shareholders of NETC and Vast can demand Vast's assistance with underwritten offerings and exercise demand or piggyback rights with respect to such offerings. Additionally the Shareholder and Registration Rights Agreement contains a customary lock-up agreement for six months after the Closing. The Shareholder and Registration Rights Agreement grants to NETC Sponsor the right to nominate for election one director to Vast's board of directors (the "<u>Vast Board</u>") for so long as NETC Sponsor and its affiliates collectively beneficially own 50% of the number of Vast Ordinary Shares that NETC Sponsor and its affiliates collectively beneficially owned immediately following the Closing. The Shareholder and Registration Rights Agreement also grants to AgCentral (as defined below) the rights to nominate for election one director to the Vast Board for so long as AgCentral and its affiliates collectively beneficially own at least the number of Vast Ordinary Shares that entitle NETC Sponsor to nominate for election one director.

The foregoing description of the Shareholder and Registration Rights Agreement is qualified in its entirety by reference to the full text of the form of Shareholder and Registration Rights Agreement, a copy of which is filed as Exhibit A to the Business Combination Agreement filed as Exhibit 2.1 to this Current Report on Form 8-K, and incorporated herein by reference.

Item 7.01 Regulation FD Disclosure.

NETC and Vast held a conference call on February 14, 2023 at 8:30 a.m. Eastern Time (the "<u>Conference Call</u>") announcing the execution of the Business Combination Agreement. The script that NETC and Vast used for the Conference Call is attached hereto as Exhibit 99.1 and incorporated herein by reference.

Attached as Exhibit 99.2 to this Current Report on Form 8-K and incorporated herein by reference is an investor presentation relating to the Business Combination.

On February 14, 2023, Reuters published about the Business Combination including quotes from Guillermo Sierra, an officer of NETC. The article is attached hereto as Exhibit 99.3 and incorporated reference herein.

The information in this Item 7.01, including Exhibits 99.1, 99.2 and 99.3, is furnished and shall not be deemed to be filed for purposes of Section 18 of the Exchange Act, or otherwise be subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act or the Exchange Act, regardless of any general incorporation language in such filings.

---

| | |
|:---|:---|
| **Item 8.01** | **Other Events.** |

---

**Subscription Agreements**

Concurrently with the signing of the Business Combination Agreement, Nabors Lux and AgCentral Energy Pty Limited ("<u>AgCentral</u>") entered into subscription agreements (the "<u>Notes Subscription Agreements</u>," and the financing received therefrom, the "<u>Interim Company Financing</u>"), pursuant to which, among other things, Nabors Lux and AgCentral have each agreed to subscribe for and purchase up to $5.0 million (or $10.0 million in aggregate principal amount) of Senior Convertible Notes from Vast in a private placement to be funded in accordance with the Notes Subscription Agreements. Any amount of Interim Company Financing provided by Nabors Lux or AgCentral will be exchanged for an equivalent number of Vast Ordinary Shares immediately prior to the Effective Time and be deemed to reduce their subscription amounts under the PIPE Financing. Vast may enter into additional Notes Subscription Agreements with additional investors between the signing of the Business Combination Agreement and the Closing (the financing received under such additional agreements and together with the financing received under the Notes Subscription Agreements, the "<u>Convertible Financing</u>").

Also concurrently with the signing of the Business Combination Agreement, Nabors Lux and AgCentral entered into subscription agreements with Vast (the "<u>Equity Subscription Agreements</u>"), pursuant to which, among other things, Nabors Lux and AgCentral agreed, subject to the Closing occurring and certain other conditions, to subscribe for and purchase, and Vast agreed to issue and sell to each of Nabors Lux and AgCentral, up to $15.0 million (or an aggregate of $30.0 million) of Vast Ordinary Shares for $10.20 per share in a private placement. Vast may enter into additional Equity Subscription Agreements, with additional investors between the signing of the Business Combination Agreement and the Closing (the financing received under such additional agreements and together with the financing received under the Equity Subscription Agreements, the "<u>PIPE Financing</u>").

The foregoing description of the Equity Subscription Agreements and the Notes Subscription Agreements is qualified in their entirety by reference to the full text of the form of Equity Subscription Agreements and the form of Notes Subscription Agreements, copies of which are filed as Exhibit 99.4 and Exhibit 99.5, respectively, to this Current Report on Form 8-K, and incorporated herein by reference.

**Noteholder Support Agreement**

At the time of the signing of the Business Combination Agreement, AgCentral is the sole holder of convertible promissory notes previously issued by Vast (the "<u>Existing Convertible Notes</u>") and a party to certain existing loan agreements with Vast (the "<u>AgCentral Loan Agreements</u>").

Concurrently with the signing of the Busienss Combination Agreement, Vast and AgCentral entered into the Noteholder Support and Termination Agreement (the "<u>Noteholder Support Agreement</u>") pursuant to which, among other things, AgCentral agreed to (i) immediately prior to the Closing, as applicable, (a) exercise (or be deemed to have exercised) the conversion rights under each of the Existing Convertible Notes to convert all such Existing Convertible Notes into Vast Ordinary Shares (the "<u>Existing Convertible Note Conversion</u>"), (b) accept Vast Ordinary Shares as settlement of its Existing Convertible Notes whereupon such notes shall be cancelled, (c) accept Vast Ordinary Shares as repayment of all of the principal outstanding and accrued interest under each AgCentral Loan Agreement whereupon each AgCentral Loan Agreement will be discharged and terminated and (d) discharge and release all financier security granted by Vast to AgCentral in respect of the Existing Convertible Notes and the Ag Central Loan Agreements, and (ii) not to transfer, prior to the Closing or termination of the Business Combination Agreement, AgCentral's rights under any AgCentral Loan Agreement, its Vast Ordinary Shares or the Existing Convertible Notes, subject to certain exceptions.

The foregoing description of the Noteholder Support Agreement is qualified in its entirety by reference to the full text of the Noteholder Support Agreement, a copy of which is filed as Exhibit 99.6 to this Current Report on Form 8-K, and incorporated herein by reference.

**Extension**

Pursuant to the NETC Charter, NETC Sponsor (or its affiliates or designees) may deposit into the Trust Account $2,760,000, which represents $0.10 per unit sold in the NETC IPO, to extend the date NETC has to consummate its initial business combination by an additional three months, up to two times. If NETC completes its initial business combination, it will, at the option of NETC Sponsor, repay such loaned amounts out of the proceeds of the Trust Account or convert a portion or all of the total loan amount into NETC Warrants at a price of $1.00 per warrant, which warrants will be identical to the warrants issued in a private placement at the time of the NETC IPO.

NETC Sponsor or its affiliates expect to deposit $2,760,000 (the "<u>Extension Amount</u>") into the Trust Account prior to February 18, 2023 to extend the date by which NETC has to consummate its initial business combination from February 18, 2023 to May 18, 2023. Pursuant to the Business Combination Agreement, if the Minimum Cash Condition is not satisfied and all other conditions to Closing are satisfied or waived, NETC Sponsor will accept, or cause any affiliate depositing the Extension Amount to accept, NETC Warrants in repayment of the Extension Amount up to the amount necessary to satisfy the Minimum Cash Condition.

**Important Information and Where to Find It**

In connection with the proposed Business Combination, Vast will file with the SEC the Registration Statement on Form F-4, which will include (i) a preliminary prospectus of Vast relating to the offer of securities to be issued in connection with the proposed Business Combination and (ii) a preliminary proxy statement of NETC to be distributed to holders of NETC's capital stock in connection with NETC's solicitation of proxies for vote by NETC's stockholders with respect to the proposed Business Combination and other matters described in the Registration Statement. NETC and Vast also plan to file other documents with the SEC regarding the proposed Business Combination. After the Registration Statement has been declared effective by the SEC, a definitive proxy statement/prospectus will be mailed to the stockholders of NETC. INVESTORS AND SECURITY HOLDERS OF NETC AND VAST ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS CONTAINED THEREIN (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND ALL OTHER DOCUMENTS RELATING TO THE PROPOSED BUSINESS COMBINATION THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION.

Investors and security holders will be able to obtain free copies of the proxy statement/prospectus and other documents containing important information about NETC and Vast once such documents are filed with the SEC, through the website maintained by the SEC at <u>http://www.sec.gov</u>. In addition, the documents filed by NETC may be obtained free of charge from NETC's website at <u>www.nabors-etcorp.com</u> or by written request to NETC at 515 West Greens Road, Suite 1200, Houston, TX 77067.

**Participants in the Solicitation**

NETC, Nabors, Vast and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of NETC in connection with the proposed Business Combination. Information about the directors and executive officers of NETC is set forth in NETC's Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on March 28, 2022. To the extent that holdings of NETC's securities have changed since the amounts printed in NETC's Annual Report on Form 10-K for the year ended December 31, 2021, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC when they become available. You may obtain free copies of these documents as described in the preceding paragraph.

**No Offer or Solicitation**

This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy any securities or constitute a solicitation of any vote or approval. No offer of securities, other than with respect to the PIPE Financing, shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.

**Forward-Looking Statements**

The information included herein and in any oral statements made in connection herewith include "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. All statements, other than statements of present or historical fact included herein, regarding the proposed Business Combination, NETC's and Vast's ability to consummate the transactions, the benefits of the transactions and NETC's and Vast's future financial performance following the transactions, as well as NETC's and Vast's strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used herein, including any oral statements made in connection herewith, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on NETC and Vast management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, NETC and Vast disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. NETC and Vast caution you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of NETC and Vast. These risks include, but are not limited to, general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the inability to complete the Business Combination, the Convertible Financing or the PIPE Financing contemplated in connection with the proposed Business Combination in a timely manner or at all (including due to the failure to receive required stockholder or shareholder, as applicable, approvals, or the failure of other closing conditions such as the satisfaction of the minimum trust account amount following redemptions by NETC's public stockholders and the receipt of certain governmental and regulatory approvals), which may adversely affect the price of NETC's securities; the inability of the Business Combination to be completed by NETC's business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by NETC; the occurrence of any event, change or other circumstance that could give rise to the termination of the Business Combination, the Convertible Financing or the PIPE Financing; the inability to recognize the anticipated benefits of the proposed Business Combination; the inability to obtain or maintain the listing of Vast Ordinary Shares on a national exchange following the consummation of the proposed Business Combination; costs related to the proposed Business Combination; the risk that the proposed Business Combination disrupts current plans and operations of Vast, business relationships of Vast or Vast's business generally as a result of the announcement and consummation of the proposed Business Combination; Vast's ability to manage growth; Vast's ability to execute its business plan, including the completion of the Port Augusta project, at all or in a timely manner and meet its projections; potential disruption in Vast's employee retention as a result of the proposed Business Combination; potential litigation, governmental or regulatory proceedings, investigations or inquiries involving Vast or NETC, including in relation to the proposed Business Combination; changes in applicable laws or regulations and general economic and market conditions impacting demand for Vast's products and services. Additional risks are set forth in the section of the Appendix titled "Summary Risk Factors" attached to this Presentation and will be set forth in the section titled "Risk Factors" in the proxy statement/prospectus that will be filed with the SEC in connection with the proposed Business Combination. Should one or more of the risks or uncertainties described herein and in any oral statements made in connection therewith occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact NETC's expectations can be found in NETC's periodic filings with the SEC, including NETC's Annual Report on Form 10-K filed with the SEC on March 28, 2022 and any subsequently filed Quarterly Reports on Form 10-Q. NETC's SEC filings are available publicly on the SEC's website at <u>www.sec.gov</u>.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

---

| | |
|:---|:---|
| **Exhibit No.** | **Exhibit** |
| [2.1\*](tm236588d6_ex2-1.htm) | [Business Combination Agreement, dated as of February 14, 2023, by and among NETC, Vast, Merger Sub, NETC Sponsor and Nabors.](tm236588d6_ex2-1.htm) |
| [10.1](tm236588d6_ex10-1.htm) | [Support Agreement, dated as of February 14, 2023, by and among NETC, NETC Sponsor, Vast, Nabors Lux and NETC's independent directors.](tm236588d6_ex10-1.htm) |
| [99.1](tm236588d6_ex99-1.htm) | [Conference Call Script.](tm236588d6_ex99-1.htm) |
| [99.2](tm236588d6_ex99-2.htm) | [Investor Presentation.](tm236588d6_ex99-2.htm) |
| [99.3](tm236588d6_ex99-3.htm) | [Reuters Article, dated February 14, 2023.](tm236588d6_ex99-3.htm) |
| [99.4](tm236588d6_ex99-4.htm) | [Form of Equity Subscription Agreement.](tm236588d6_ex99-4.htm) |
| [99.5](tm236588d6_ex99-5.htm) | [Form of Notes Subscription Agreement.](tm236588d6_ex99-5.htm) |
| [99.6](tm236588d6_ex99-6.htm) | [Noteholder Support and Termination Agreement, dated as of February 14, 2023, by and between Vast and AgCentral.](tm236588d6_ex99-6.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

\* Certain exhibits and schedules have been omitted pursuant to Item 601(a)(5) of Regulation S-K. A copy of any omitted schedule and/or exhibit will be furnished to the SEC upon request.

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

Dated: February 14, 2023

---

| | | |
|:---|:---|:---|
| NABORS ENERGY TRANSITION CORP. | NABORS ENERGY TRANSITION CORP. | NABORS ENERGY TRANSITION CORP. |
| By: | /s/ Anthony G. Petrello | /s/ Anthony G. Petrello |
|  | Name: | Anthony G. Petrello |
|  | Title: | President, Chief Executive Officer and Secretary |

---

## Exhibit 2.1

**Exhibit 2.1**

BUSINESS COMBINATION AGREEMENT

by and among

NABORS ENERGY TRANSITION CORP.,

VAST SOLAR PTY LTD,

NEPTUNE MERGER SUB, INC.,

NABORS ENERGY TRANSITION SPONSOR LLC (SOLELY WITH RESPECT TO SECTIONS 5.20, 7.10(a) and 7.16)

and

NABORS INDUSTRIES LTD. (SOLELY WITH RESPECT TO SECTIONS 7.8(d) and 7.18)

Dated as of February 14, 2023

**TABLE OF CONTENTS**

**<u>Page</u>**

---

| | | |
|:---|:---|:---|
| **Article I DEFINITIONS** | **Article I DEFINITIONS** | **3** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 1.1 | Certain Definitions | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 1.2 | Further Definitions | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 1.3 | Construction | 18 |
| **Article II AGREEMENT AND PLAN OF MERGER** | **Article II AGREEMENT AND PLAN OF MERGER** | **19** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 2.1 | The Merger | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 2.2 | Effective Time; Closing | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 2.3 | Effect of the Merger | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 2.4 | Organizational Documents | 19 |
| **Article III issue AND CONVERSION of securities; EXCHANGE OF CERTIFICATES** | **Article III issue AND CONVERSION of securities; EXCHANGE OF CERTIFICATES** | **20** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 3.1 | Issue and Conversion of Securities | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 3.2 | Exchange | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 3.3 | Earnout | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 3.4 | SPAC Stock Transfer Books | 26 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 3.5 | No Appraisal and Dissenters' Rights | 26 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 3.6 | Payment of Expenses | 26 |
| **Article IV REPRESENTATIONS AND WARRANTIES OF THE COMPANY** | **Article IV REPRESENTATIONS AND WARRANTIES OF THE COMPANY** | **27** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.1 | Organization and Qualification; Subsidiaries | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.2 | Organizational Documents | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.3 | Capitalization | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.4 | Authority Relative to this Agreement | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.5 | No Conflict; Required Filings and Consents | 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.6 | Permits; Compliance | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.7 | Information Privacy and Security Compliance | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.8 | Financial Statements | 32 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.9 | Absence of Certain Changes or Events | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.10 | Absence of Litigation | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.11 | Employee Benefit Plans | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.12 | Labor and Employment Matters | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.13 | Real Property; Title to Assets | 39 |

---

i

**TABLE OF CONTENTS**

**(Continued)**

**<u>Page</u>**

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.14 | Intellectual Property | 39 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.15 | Taxes | 42 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.16 | Environmental Matters | 44 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.17 | Material Contracts | 44 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.18 | International Trade Laws | 46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.19 | Insurance | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.20 | Board Approval; | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.21 | Certain Business Practices | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.22 | Interested Party Transactions | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.23 | Exchange Act; Investment Company Act | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.24 | Brokers | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.25 | Solvency | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.26 | Merger Sub | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.27 | Exclusivity of Representations and Warranties | 49 |
| **Article V REPRESENTATIONS AND WARRANTIES OF SPAC and SPONSOR** | **Article V REPRESENTATIONS AND WARRANTIES OF SPAC and SPONSOR** | **50** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 5.1 | Corporate Organization | 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 5.2 | Certificate of Incorporation and Bylaws | 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 5.3 | Capitalization | 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 5.4 | Authority Relative to This Agreement | 51 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 5.5 | No Conflict; Required Filings and Consents | 51 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 5.6 | Compliance | 52 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 5.7 | SEC Filings; Financial Statements; Sarbanes-Oxley | 52 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 5.8 | Absence of Certain Changes or Events | 54 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 5.9 | Absence of Litigation | 54 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 5.10 | Board Approval; Vote Required | 54 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 5.11 | Brokers | 55 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 5.12 | Transactions with Related Parties | 55 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 5.13 | SPAC Trust Fund | 55 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 5.14 | Employees | 56 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 5.15 | Taxes | 56 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 5.16 | Listing | 58 |

---

ii

**TABLE OF CONTENTS**

**(Continued)**

**<u>Page</u>**

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 5.17 | Business Activities | 58 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 5.18 | Reporting Company | 58 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 5.19 | Investment Company | 59 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 5.20 | Extension Amount | 59 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 5.21 | SPAC's Investigation and Reliance | 59 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 5.22 | Exclusivity of Representations and Warranties | 59 |
| **Article VI CONDUCT OF BUSINESS** | **Article VI CONDUCT OF BUSINESS** | **60** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 6.1 | Conduct of Business by the Company | 60 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 6.2 | Conduct of Business by SPAC | 63 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 6.3 | Claims Against Trust Account | 64 |
| **Article VII ADDITIONAL AGREEMENTS** | **Article VII ADDITIONAL AGREEMENTS** | **65** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 7.1 | Registration Statement; Proxy Statement | 65 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 7.2 | SPAC Stockholders' Meetings | 67 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 7.3 | Access to Information; Confidentiality | 67 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 7.4 | Exclusivity | 68 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 7.5 | Employee Benefits Matters | 69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 7.6 | Directors' and Officers' Indemnification | 70 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 7.7 | Notification of Certain Matters | 71 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 7.8 | Further Action; Reasonable Best Efforts | 71 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 7.9 | Public Announcements | 73 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 7.10 | Certain Tax Matters | 74 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 7.11 | CGT Withholding Amount | 74 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 7.12 | Stock Exchange Listing | 74 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 7.13 | Antitrust | 74 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 7.14 | PCAOB Financial Statements | 76 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 7.15 | Trust Account | 76 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 7.16 | Extension | 77 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 7.17 | Post-Closing Directors and Officers of the Company | 77 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 7.18 | Non-Solicitation | 78 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 7.19 | Compliance | 78 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 7.20 | Company Split Adjustment | 78 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 7.21 | Merger Sub Consent | 78 |

---

iii

**TABLE OF CONTENTS**

**(Continued)**

**<u>Page</u>**

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 7.22 | Related Party Approvals; Australian Disclosure Obligations | 78 |
| **Article VIII . CONDITIONS TO THE transactions** | **Article VIII . CONDITIONS TO THE transactions** | **79** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 8.1 | Conditions to the Obligations of Each Party | 79 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 8.2 | Conditions to the Obligations of SPAC | 80 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 8.3 | Conditions to the Obligations of the Company and Merger Sub | 81 |
| **Article IX TERMINATION, AMENDMENT AND WAIVER** | **Article IX TERMINATION, AMENDMENT AND WAIVER** | **82** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 9.1 | Termination | 82 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 9.2 | Effect of Termination | 83 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 9.3 | Expenses | 83 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 9.4 | Amendment | 84 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 9.5 | Waiver | 84 |
| **Article X GENERAL PROVISIONS** | **Article X GENERAL PROVISIONS** | **84** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 10.1 | Notices | 84 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 10.2 | Nonsurvival of Representations, Warranties and Covenants | 85 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 10.3 | Severability | 85 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 10.4 | Entire Agreement; Assignment | 86 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 10.5 | Parties in Interest | 86 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 10.6 | Governing Law | 86 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 10.7 | Waiver of Jury Trial | 86 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 10.8 | Headings | 86 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 10.9 | Counterparts | 87 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 10.10 | Specific Performance | 87 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 10.11 | No Recourse | 87 |

---

iv

****TABLE OF CONTENTS**<br> (Continued)**

EXHIBIT A Form of Shareholder and Registration Rights Agreement

EXHIBIT B Form of Second Amended and Restated Certificate of Incorporation of Surviving Corporation

EXHIBIT C Form of Amended and Restated Bylaws of Surviving Corporation

EXHIBIT D Form of Constitution of Company

v

**BUSINESS COMBINATION AGREEMENT**

This BUSINESS COMBINATION AGREEMENT, dated as of February 14, 2023 (as may be further amended, restated or amended and restated from time to time, this "***Agreement***"), is made by and among Nabors Energy Transition Corp., a Delaware corporation ("***SPAC***"), Vast Solar Pty Ltd, an Australian proprietary company limited by shares (the "***Company***"), NEPTUNE MERGER SUB, INC., a Delaware corporation and wholly owned direct subsidiary of the Company ("***Merger Sub***"), Nabors Energy Transition Sponsor LLC, a Delaware limited liability company (the "***Sponsor***") (solely with respect to <u>Sections 5.20</u>, <u>7.10(a)</u> and <u>7.16</u>), and Nabors Industries Ltd. ("***Nabors***") (solely with respect to <u>Sections 7.8(d)</u> and <u>7.18</u>).

WHEREAS, SPAC is a special purpose acquisition company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities;

WHEREAS, upon the terms and subject to the conditions of this Agreement and in accordance with the General Corporation Law of the State of Delaware (the "***DGCL***"), Merger Sub will merge with and into SPAC (the "***Merger***"), with SPAC surviving the Merger as a wholly owned direct subsidiary of the Company;

WHEREAS, the Board of Directors of the Company (the "***Company Board***") has unanimously approved the Merger, this Agreement and the Transactions (as defined herein);

WHEREAS, the Board of Directors of SPAC (the "***SPAC Board***") has unanimously (a) approved and adopted this Agreement and declared its advisability and approved the Transactions to which SPAC is a party, including the Merger, (b) determined that this Agreement and the Transactions to which SPAC is a party, including the Merger, are fair to, and in the best interests of, SPAC and its stockholders and (c) recommended the approval and adoption of this Agreement, the Merger and the other transactions contemplated by this Agreement by the stockholders of SPAC;

WHEREAS, the Board of Directors of Merger Sub (the "***Merger Sub Board***") has unanimously (a) determined that the Merger is fair to, and in the best interests of, Merger Sub and its sole stockholder, and (b) approved and adopted this Agreement and declared its advisability and approved the Merger and the other transactions contemplated by this Agreement;

WHEREAS, SPAC, the Company and the Sponsor, concurrently with the execution and delivery of this Agreement, are entering into the Support Agreement with Nabors Lux 2 S.A.R.L., a Luxembourg private limited liability company (société à responsabilité limitée) ("***Nabors Lux 2***"), and each of the other signatories thereto, dated as of the date hereof (the "***Support Agreement***"), providing that, among other things, the Sponsor and its affiliates will vote their shares of Class A common stock, par value $0.0001 per share, of SPAC ("***Class A Common Stock***") and Founder Shares (as defined herein) in favor of this Agreement and the transactions contemplated by this Agreement and the Founder Shares held by the Sponsor will be exchanged for a fixed number of Company Shares and the right to receive additional Company Shares during the Earnout Period (as defined herein) upon the achievement of certain share price targets, in each case, as more specifically set forth therein;

WHEREAS, concurrently with the execution and delivery of this Agreement, AgCentral Energy Pty Limited ("***AgCentral***"), in its capacity as the sole holder of Existing Company Convertible Notes and in its capacity as holder of certain indebtedness of the Company pursuant to the AgCentral Loan Agreements, entered into a noteholder support and loan termination deed (the "***Noteholder Support and Loan Termination Agreement***"), pursuant to which, among other things, AgCentral agreed (a) to, immediately prior to the Closing, as applicable, (i) exercise (or be deemed to have exercised) the conversion rights under each of the Existing Company Convertible Notes to convert all such Existing Company Convertible Notes into Company Shares (as defined herein) on the terms thereof or, (ii) accept Company Shares as settlement of their Existing Company Convertible Notes whereupon such notes shall be canceled, (iii) accept Company Shares as repayment of all of the principal outstanding and accrued interest under each AgCentral Loan Agreement whereupon each of the AgCentral Loan Agreements shall be discharged and terminated (clauses (i)-(iii), collectively, the "***Existing Convertible Note Conversion***"), and (iv) discharge and release all financier security granted by the Company to AgCentral in respect of the Existing Company Convertible Notes and the AgCentral Loan Agreements, and (b) not to transfer, prior to the Closing or termination of this Agreement, AgCentral's rights under any AgCentral Loan Agreement, AgCentral's Company Shares or the Existing Company Convertible Notes, subject to the exceptions set forth therein;

WHEREAS, in connection with the Closing, SPAC, the Company, certain stockholders of SPAC and certain holders of Company Shares ("***Company Shareholders***") shall enter into a Shareholder and Registration Rights Agreement substantially in the form attached hereto as <u>Exhibit A</u> (the "***Shareholder and Registration Rights Agreement***");

WHEREAS, concurrently with the execution and delivery of this Agreement, Nabors Lux 2 and AgCentral are each entering into a subscription agreement with the Company (the "***Notes Subscription Agreements***"), pursuant to which, among other things, Nabors Lux 2 and AgCentral have agreed to subscribe for and purchase senior convertible notes from the Company, in exchange for an aggregate purchase price of $10,000,000 to be funded in accordance with the Notes Subscription Agreements;

WHEREAS, certain additional investors may enter into Additional Notes Subscription Agreements (as defined herein) with the Company (the financing contemplated under the Notes Subscription Agreement and the Additional Notes Subscription Agreements hereinafter referred to as the "***Convertible Financing***");

WHEREAS, concurrently with the execution and delivery of this Agreement, Nabors Lux 2 and AgCentral are entering into subscription agreements with the Company (the "***Equity Subscription Agreements***"), pursuant to which, among other things, Nabors Lux 2 and AgCentral shall agree, subject to the Closing occurring, to subscribe for and purchase, and the Company will issue and sell to each of Nabors Lux 2 and AgCentral up to the number of Company Shares provided for in the applicable Equity Subscription Agreement in exchange for the purchase price set forth therein, in each case, on the terms and subject to the conditions set forth therein;

WHEREAS, certain additional investors may enter into Additional Equity Subscription Agreements (as defined herein) with the Company (the equity financing under the Equity Subscription Agreements and the Additional Equity Subscription Agreements hereinafter referred to as the "***PIPE Financing***");

WHEREAS, immediately prior to the Merger, the MEP Share Conversion (as defined herein), the Existing Convertible Note Conversion and a conversion of Company Shares (whether by way of subdivision or consolidation) will be undertaken (the "***Company Split Adjustment***"), whereby the aggregate number of Company Shares outstanding immediately following such corporate actions will be 20,500,000 Company Shares (subject to adjustments as contemplated herein);

WHEREAS, prior to the Closing, the Company shall change from a proprietary company limited by shares to a public company limited by shares and replace the constitution of the Company;

WHEREAS, concurrently with the execution and delivery of this Agreement, (a) the Company and Nabors Corporate Services, Inc. are entering into a Services Agreement (the "***Services Agreement***") and (b) the Company and Nabors Energy Transition Ventures LLC are entering into a Joint Development and License Agreement (the "***Development Agreement***"); and

WHEREAS, prior to the consummation of the Transactions, the Company shall adopt the 2023 Equity Incentive Plan (as defined herein).

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements herein contained, and intending to be legally bound hereby, the parties hereto hereby agree as follows:

**Article I** **<br> DEFINITIONS**

Section 1.1 <u>Certain Definitions</u>. For purposes of this Agreement:

"***Additional Equity Subscription Agreements***" means subscription agreements entered into with investors between the date of this Agreement and the Effective Time or the earlier termination of this Agreement pursuant to which such investors, upon the terms and subject to the conditions set forth therein, have agreed to subscribe for and purchase Company Shares in the PIPE Financing. Additional Equity Subscription Agreements shall be with investors reasonably acceptable to SPAC who have agreed to purchase Company Shares at a price at least equal to the price per share provided in the Equity Subscription Agreements and on terms and conditions that are no more favorable to such investor in any material respect than the Equity Subscription Agreements unless SPAC provides its prior written consent (such consent not to be unreasonably withheld, conditioned or delayed, having regard to, *inter alia* (a) market conditions prevailing at the date consent is requested, for instruments such as the Company Shares offered in the PIPE Financing and (b) other alternative transactions available to SPAC, at the date that consent is required).

"***Additional Notes Subscription Agreements***" means subscription agreements entered into with investors between the date of this Agreement and the Effective Time or the earlier termination of this Agreement pursuant to which such investors, upon the terms and subject to the conditions set forth therein, have agreed to subscribe for and purchase senior convertible notes in the Convertible Financing. Additional Notes Subscription Agreements shall be with investors reasonably acceptable to SPAC who have agreed to purchase Senior Convertible Notes at a price at least equal to the price per note provided in the Notes Subscription Agreements and on terms and conditions that are no more favorable to such investor in any material respect than the Notes Subscription Agreements unless SPAC provides its prior written consent (such consent not to be unreasonably withheld, conditioned or delayed, having regard to, *inter alia* (a) market conditions prevailing at the date consent is requested, for instruments such as the senior convertible notes offered in the Convertible Financing and (b) other alternative transactions available to SPAC, at the date that consent is required).

"***affiliate***" of a specified person means a person who, directly or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, such specified person; "control" means the ownership, directly or indirectly, of voting securities representing the right generally to elect a majority of the directors (or similar officials) of a person or the possession, as a director, manager, officer or equivalent position or by Contract or otherwise, of the authority to direct the management and policies of a person.

"***AgCentral Loan Agreements***" means the loan agreements set forth on <u>Section 1.1(a)</u> of the Company Disclosure Schedule.

"***Anti-Corruption Laws***" means (a) the U.S. Foreign Corrupt Practices Act of 1977, as amended (the "***FCPA***"), (b) the UK Bribery Act 2010, (c) Divisions 70 and 142 of Australia's *Criminal Code Act 1995* (Cth), as amended, (d) Australia's *Anti-Money Laundering and Counter-Terrorism Financing Act 2006* (Cth), as amended, (e) anti-bribery legislation promulgated by the European Union and implemented by its member states, (f) Laws or any other type of legislation adopted in furtherance of the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, and (g) all other applicable, similar or equivalent anti-corruption, anti-bribery or anti-money laundering Laws or any other type of legislation of any jurisdiction applicable to the Company, the Company's subsidiaries, or the Company's operations.

"***ASIC***" means the Australian Securities and Investments Commission.

"***Australian Tax Laws***" means the Income Tax Assessment Act 1936 (Cth) and the Income Tax Assessment Act 1997 (Cth).

"***Business Data***" means all business information and data, including Personal Information (whether of employees, contractors, consultants, customers, consumers, or other persons and whether in electronic or any other form or medium) that is accessed, collected, used, processed, stored, shared, distributed, transferred, disclosed, destroyed, or disposed of by any of the Business Systems or otherwise in the course of the conduct of the business of the Company or any Company Subsidiaries.

"***Business Day***" means any day on which the principal offices of the SEC in Washington, D.C. are open to accept filings, or, in the case of determining a date when any payment is due, any day on which banks are not required or authorized to close in New York, NY in the United States of America or Sydney, Australia.

"***Business Systems***" means all Software, computer hardware (whether general or special purpose), electronic data processing, information, record keeping, communications, telecommunications, networks, interfaces, platforms, servers, peripherals, and computer systems, including any outsourced systems and processes, that are owned, licensed, or leased by the Company or any Company Subsidiaries and used or held for use in the conduct of the Company Business.

"***Change of Control***" means (a) any transaction or series of transactions (other than any transaction or series of transactions described in clause (b) hereof) following which a person or "group" (within the meaning of Section 13(d) of the Exchange Act) of persons (other than AgCentral or its affiliates, the Company or any of its subsidiaries), has direct or indirect beneficial ownership of securities (or rights convertible or exchangeable into securities) representing fifty percent (50%) or more of the voting power of or economic rights or interests in the Company, (b) any transaction or series of transactions constituting a merger, consolidation, reorganization or other business combination involving the Company, however effected, following which either (i) the members of the Company Board immediately prior to such merger, consolidation, reorganization or other business combination do not constitute at least a majority of the board of directors of the company surviving the combination or, if the surviving company is a subsidiary, the ultimate parent thereof or (ii) the voting securities of the Company immediately prior to such merger, consolidation, reorganization or other business combination do not continue to represent or are not converted into fifty percent (50%) or more of the combined voting power of the then-outstanding voting securities of the person resulting from such combination or, if the surviving company is a subsidiary, the ultimate parent thereof, or (c) any transaction or series of transactions the result of which is a sale of all or substantially all of the assets of the Company to any person.

"***Code***" means the U.S. Internal Revenue Code of 1986, as amended.

"***Company Business***" means the business of the Company and any Company Subsidiaries as conducted as of the date hereof.

"***Company Change of Control Payment***" means any success, change of control, retention, transaction bonus or other similar payment or amount that the Company is required to pay to any current or former officer, director or employee of the Company or any affiliate of the Company (including any "double trigger" payments or similar amounts that may become due and payable based upon the occurrence of the Transactions followed by or combined with one or more additional circumstances, matters or events) pursuant to the express terms of any plan, policy, arrangement or Contract to which the Company is a party or by which any of its assets are bound as of or prior to the Closing, in each case, as a result of the consummation of the Transactions.

"***Company IP***" means, collectively, all Company-Owned IP and Company-Licensed IP.

"***Company-Licensed IP***" means all Intellectual Property rights owned or purported to be owned by a third party and licensed to the Company or any Company Subsidiary or that the Company or any Company Subsidiary otherwise has a right to use.

"***Company Material Adverse Effect***" means any event, circumstance, change, fact, condition, development, effect or occurrence (collectively "***Effect***") that, individually or in the aggregate with all other Effects, (a) has had or would reasonably be expected to have a material adverse effect to the business, condition (financial or otherwise), assets, liabilities or operations of the Company and the Company Subsidiaries, taken as a whole, or (b) would reasonably be expected to prevent, materially delay or materially impede the performance by the Company of its obligations under this Agreement or the consummation of the Transactions; *provided*, *however*, that none of the following shall be deemed to constitute, alone or in combination, or be taken into account in the determination of whether, there has been or will be a Company Material Adverse Effect: (i) any change or proposed change in or change in the interpretation of any Law, GAAP or applicable Local GAAP after the date of this Agreement; (ii) events or conditions generally affecting the industries or geographic areas in which the Company or the Company Subsidiaries operate; (iii) any downturn in general economic conditions, including changes in the credit, debt, securities, financial or capital markets (including changes in interest or exchange rates, prices of any security or market index or commodity or any disruption of such markets); (iv) acts of war, sabotage, civil unrest or terrorism (including in the Ukraine), or any escalation or worsening of any such acts of war, sabotage, civil unrest or terrorism, or changes in global, national, regional, state or local political or social conditions; (v) any hurricane, tornado, flood, earthquake, natural disaster, or other acts of God, epidemic, pandemic, or disease outbreak (including COVID-19), (vi) any actions taken by the Company or the Company Subsidiaries as required by this Agreement or any other Transaction Document or at SPAC's written request, (vii) any failure by the Company to meet any projections or forecasts or estimates of revenues or earnings for any period (provided, that this <u>clause (vii)</u> shall not prevent a determination that any Effect underlying such failure has resulted in a Company Material Adverse Effect), or (viii) any Effect attributable to the announcement or execution, pendency, negotiation or consummation of the Transactions (including the impact thereof on relationships with customers, suppliers, employees or Governmental Authorities) (*provided*, that this <u>clause (viii)</u> shall not apply to any representations or warranty to the extent the purpose of such representation or warranty is to address the consequences resulting from this Agreement or the consummation of the Transactions), except in the cases of <u>clauses (i)</u> through <u>(v)</u>, to the extent that the Company and the Company Subsidiaries, taken as a whole, are materially and disproportionately affected thereby as compared with other participants in the industries in which the Company and the Company Subsidiaries operate.

"***Company-Owned IP***" means all Intellectual Property rights owned or purported to be owned by the Company or any Company Subsidiary.

"***Company Shares***" means ordinary shares in the capital of the Company.

"***Company Software***" means Software owned or purported to be owned by or developed by or for the Company or any Company Subsidiary.

"***Company Subsidiary***" means a subsidiary of the Company.

"***Confidential Information***" means any information, knowledge or data concerning the businesses and affairs of the Company, the Company Subsidiaries, or any Suppliers or customers of the Company or any Company Subsidiary or SPAC or its subsidiaries (as applicable) that is not already generally available to the public.

"***Contract***" shall mean any written contract, mortgage, deed of trust, bond, bank guarantee, indenture, lease, sublease, license, sublicense, note, franchise, option, warrant, right or other written obligation or agreement.

"***Copyleft License***" means any license that requires, as the result of and as a condition of the Company's use, modification or distribution of software subject to such license in the conduct of the Company's Business, that such software subject to such license, or any material Company Software as incorporated into, derived from, used or distributed with such software subject to such license by the Company in the conduct of the Company's Business (a) be made available or distributed in a form other than binary (e.g., source code form), (b) be licensed for the purpose of preparing derivative works or (c) be redistributable at no license fee. Copyleft Licenses include the GNU General Public License, the GNU Lesser General Public License, the Mozilla Public License, the Common Development and Distribution License, the Eclipse Public License and all Creative Commons "sharealike" licenses.

"***Corporations Act***" means the Australian *Corporations Act 2001* (Cth).

"***COVID-19***" shall mean SARS-CoV-2 or COVID-19, and any evolutions or mutations thereof or related or associated epidemics, pandemic or disease outbreaks.

"***Dollars***" or "***$***" means the lawful currency of the United States of America.

"***Earnout Period***" means the time period between the date that is seventy (70) days after the Closing Date and the five-year anniversary of the Closing Date.

"***Eligible Company Shareholder***" means a holder of a Company Share (after taking into account the Existing Convertible Note Conversion in accordance with the Noteholder Support and Loan Termination Agreement and the MEP Share Conversion) immediately prior to the Effective Time; *provided*, that no person that becomes a holder of Company Shares prior to the Effective Time solely as a result of the consummation of the Convertible Financing or the PIPE Financing shall be an Eligible Company Shareholder with respect to such Company Shares.

"***Environmental Laws***" means any United States federal, state or local or non-United States laws relating to: (a) releases or threatened releases of Hazardous Substances or materials containing Hazardous Substances; (b) the manufacture, handling, transport, use, treatment, storage, exposure to or disposal of Hazardous Substances or materials containing Hazardous Substances; or (c) pollution or protection of human health, safety, or the environment or natural resources.

"***Equity Securities***" means any share, share capital, capital stock, partnership, membership, joint venture or similar interest in any person (including any stock appreciation, phantom stock, profit participation or similar rights), and any option, warrant, right or security (including debt securities) convertible, exchangeable or exercisable therefor.

"***Existing Company Convertible Notes***" means the convertible promissory notes issued by the Company set forth on <u>Section 1.1(a)</u> of the Company Disclosure Schedule.

"***Extension Amount***" means the amount, which, pursuant to the SPAC Certificate of Incorporation, the Sponsor shall deposit, or cause to be deposited, into the Trust Account in the form of a non-interest bearing loan in order to extend the deadline for SPAC to consummate its initial business combination by three months to May 18, 2023.

"***FATA***" means the Australian Foreign Acquisitions and Takeovers Act 1975 (Cth).

"***Founder Shares***" means the shares of Class F common stock, par value $0.0001 per share, of SPAC ("Class F Common Stock"), the shares of Class B common stock, par value $0.0001 per share, of SPAC ("Class B Common Stock") issued upon conversion of the Class F Common Stock and the shares of Class A Common Stock issued upon conversion of the Class B Common Stock.

"***GAAP***" means generally accepted accounting principles as in effect in the United States from time to time.

"***Government Official***" means any officer or employee of a government, a public international organization, or any department, agency, or instrumentality thereof or any person acting in an official capacity for such government or organization, including (i) a foreign official as defined in the FCPA, (ii) a foreign public official as defined in the UK Border Agency, (iii) an officer or employee of a government-owned, controlled, operated enterprise, such as a national energy company, and (iv) any non-U.S. political party or party official or any candidate for non-U.S. political office.

"***Hazardous Substance(s)***" means: (a) those substances defined in or regulated under the following United States federal statutes and their state counterparts, as each may be amended from time to time, and all regulations thereunder: the Hazardous Materials Transportation Act, the Resource Conservation and Recovery Act, the Comprehensive Environmental Response, Compensation and Liability Act, the Clean Water Act, the Safe Drinking Water Act, the Atomic Energy Act, the Federal Insecticide, Fungicide, and Rodenticide Act and the Clean Air Act; (b) petroleum and petroleum products, including crude oil and any fractions thereof; (c) natural gas, synthetic gas, and any mixtures thereof; (d) polychlorinated biphenyls, asbestos, per- and polyfluoroalkyl substances, and radon; and (e) any substance, material or waste regulated by any Governmental Authority pursuant to any Environmental Law.

"***Insolvency Event***" means, in relation to an entity:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the entity is unable to pay its debts
 as and when they fall due or has stopped or suspended, or threatened to stop or suspend,
 payment of all or a class of its debts or is insolvent within meaning of section 95A of the
 Corporations Act;

&nbsp;&nbsp;&nbsp;&nbsp;(b) the entity goes, or proposes to go,
 into bankruptcy or liquidation;

&nbsp;&nbsp;&nbsp;&nbsp;(c) the entity: (A) receives a deregistration
 notice under section 601AB of the Corporations Act or any communication from ASIC that might
 lead to such a notice; or (B) applies for deregistration under section 601AA of the
 Corporations Act;

&nbsp;&nbsp;&nbsp;&nbsp;(d) an order is made or an effective resolution
 is passed for the winding up or dissolution without winding up (otherwise than for the purposes
 of a solvent reconstruction or amalgamation) of the entity;

&nbsp;&nbsp;&nbsp;&nbsp;(e) a receiver, receiver and manager, judicial
 manager, liquidator, administrator or like official is appointed, or threatened or expected
 to be appointed, over the entity, the whole or a substantial part of the undertaking or property
 of the entity;

&nbsp;&nbsp;&nbsp;&nbsp;(f) the holder of a Lien takes possession
 of the whole or substantial part of the undertaking or property of the entity;

&nbsp;&nbsp;&nbsp;&nbsp;(g) a writ of execution is issued against
 the entity or any of the entity's assets;

&nbsp;&nbsp;&nbsp;&nbsp;(h) the entity proposes or takes any steps
 to implement a scheme or arrangement or other compromise with its creditors or any class
 of them or to enter into a deed of company arrangement;

&nbsp;&nbsp;&nbsp;&nbsp;(i) the entity is declared or taken under
 applicable Law to be insolvent or the entity's board of directors resolve that it is,
 or is likely to become insolvent; or

&nbsp;&nbsp;&nbsp;&nbsp;(j) an event that is the effective equivalent
 of an event described in paragraphs (a) to (i) above occurs in respect of the entity
 under the Laws applicable to it; and

in relation to a natural person, the person is made bankrupt, declared bankrupt or files a petition for relief under bankruptcy Laws, a certificate is issued for the summary administration of the person's estate or an equivalent or similar event to any of the foregoing occurs in respect of the person under the Laws applicable to it.

"***Intellectual Property***" means: (a) patents, patent applications and patent disclosures, together with all reissues, continuations, continuations-in-part, divisionals, revisions, extensions or reexaminations thereof; (b) trademarks and service marks, trade dress, logos, trade names, corporate names, brands, slogans and other source identifiers together with all applications, registrations, and renewals in connection therewith, together with all of the goodwill symbolized by the foregoing; (c) copyrights, mask works, rights in topography, and other works of authorship (whether or not copyrightable), and registrations and applications for registration, renewals and extensions thereof; (d) trade secrets and know-how (including ideas, formulas, compositions, inventions (whether or not patentable or reduced to practice)), customer and supplier lists, improvements, protocols, processes, methods and techniques, research and development information, industry analyses, algorithms, architectures, layouts, drawings, specifications, designs, plans, methodologies, proposals, industrial models, technical data, financial and accounting and all other data, databases, database rights, including rights to use any pricing and cost information, business and marketing plans and proposals, and customer and supplier lists (including lists of prospects) and related information; (e) Internet domain names, social media accounts, websites and proprietary content; (f) Software and rights in Software; and (g) all other intellectual property or proprietary rights of any kind or description.

"***International Trade Laws***" means (a) all U.S. import and export Laws (including those Laws administered by the U.S. Departments of Commerce (Bureau of Industry and Security) codified at 15 C.F.R., Parts 700-774; Homeland Security (Customs and Border Protection) codified at 19 C.F.R., Parts 1-192; State (Directorate of Defense Trade Controls) codified at 22 C.F.R., Parts 103, 120-130; and the Treasury (Office of Foreign Assets Control) codified at 31 C.F.R., Parts 500-598) and (b) all comparable applicable Laws outside the United States.

"***Investment Company Act***" means the Investment Company Act of 1940, as amended.

"***knowledge***" or "***to the knowledge***" of a person shall mean in the case of the Company, the actual knowledge of the persons listed on <u>Section 1.1</u> of the Company Disclosure Schedule, after reasonable inquiry of their direct reports with administrative or supervisory responsibility for the relevant matter that is being represented, and in the case of SPAC, the actual knowledge of William J. Restrepo and Guillermo Sierra, after reasonable inquiry of their direct reports with administrative or supervisory responsibility for the relevant matter that is being represented.

"***Law***" statute, law, ordinance, regulation, rule, code, executive order, injunction, judgment, decree or other order, in each case, of any Governmental Authority.

"***Leased Real Property***" means the real property leased or licensed by the Company or any Company Subsidiary as tenant or licensee, together with, to the extent leased or licensed by the Company or a Company Subsidiary, all buildings and other structures, facilities or improvements located thereon and all easements, licenses, rights and appurtenances of the Company relating to the foregoing.

"***Lien***" means any lien, security interest, mortgage, pledge, adverse claim or other encumbrance of any kind that secures the payment or performance of an obligation (other than those created under applicable securities laws).

"***Local GAAP***" means the generally accepted accounting principles in the jurisdiction of organization of any non-U.S. entity.

"***MEP Deed***" means the Company's Management Equity Plan Deed dated on or around 30 July 2020, as amended on February 13, 2023.

"***MEP De-SPAC Deed***" means the Company's Management Equity Plan De-SPAC Side Deed, dated on or around February 13, 2023.

"***MEP Shares***" means all outstanding shares granted under the MEP Deed.

"***Merger Sub Common Stock***" means the authorized common stock of Merger Sub consisting of 1,000 shares of common stock, par value of $0.0001 per share.

"***Merger Sub Organizational Documents***" means the certificate of incorporation and bylaws of Merger Sub, in each case as amended, modified or supplemented from time to time.

"***Open Source License***" means any license meeting the Open Source Definition (as promulgated by the Open Source Initiative) or the Free Software Definition (as promulgated by the Free Software Foundation), or any substantially similar license, including any license approved by the Open Source Initiative or any Creative Commons License. For the avoidance of doubt, Open Source Licenses include Copyleft Licenses.

"***Open Source Materials***" means any Software subject to an Open Source License.

"***Owned Real Property***" means all real property owned in fee simple by the Company or any Company Subsidiary.

"***PCAOB***" means the Public Company Accounting Oversight Board and any division or subdivision thereof.

"***person***" means an individual, corporation, partnership, limited partnership, limited liability company, syndicate, person (including a "person" as defined in Section 13(d)(3) of the Exchange Act), trust, association or entity or government, political subdivision, agency or instrumentality of a government.

"***Personal Information***" means (a) information related to an identified or identifiable individual, device or household (e.g., name, address telephone number, email address, financial account number, health information, government-issued identifier), (b) any other data used or intended to be used or which allows one to identify, contact, or precisely locate an individual, device or household, including any internet protocol address or other persistent identifier, and (c) any other, similar information or data regulated by Privacy/Data Security Laws.

"***Privacy/Data Security Laws***" means all Laws, self-regulatory standards, third-party system and platform requirements, and industry regulations governing (a) the receipt, collection, use, storage, processing, sharing, security, disclosure, transfer, sale, unauthorized access or modification, theft, loss, inaccessibility, breach, or transfer of Personal Information, protected health information, Confidential Information, the Company's Business Systems or Business Data and (b) unfair and deceptive practices, accessibility, advertising communications (*e.g.,* text messages, emails, calls), PCI-DSS, location tracking and marketing.

"***Pro Rata Share***" means, for each Eligible Company Shareholder, a percentage determined by dividing (a) the total number of Company Shares issued and outstanding immediately prior to the Effective Time (after taking into account the conversion of Existing Company Convertible Notes in accordance with the Noteholder Support and Loan Termination Agreement and the MEP Share Conversion) held by such Eligible Company Shareholder by (b) the total number of Company Shares issued and outstanding immediately prior to the Effective Time (after taking into account the conversion of Existing Company Convertible Notes in accordance with the Noteholder Support and Loan Termination Agreement and the MEP Share Conversion) held by all Eligible Company Shareholders.

"***Products***" mean any products or services, developed, manufactured, performed, out-licensed, sold, distributed or otherwise made available by or on behalf of the Company, from which the Company has derived previously or is currently deriving revenue from the sale or provision thereof.

"***Redemption Rights***" means the redemption rights provided for in Section 9.2 of the SPAC Certificate of Incorporation.

"***Registered Company IP***" means all Company-Owned IP that is the subject of registration or a pending application for registration, including domain names.

"***Sanctioned Country***" means at any time, a country, region or territory which is itself the subject or target of any comprehensive economic or trade restrictions amounting to embargo, which may change from time to time (as of the date of this Agreement, certain regions of Ukraine, Cuba, Iran, North Korea, and Syria).

"***Sanctioned Person***" means at any time any person that is: (a) listed on any Sanctions-related list of designated or blocked persons administered by a Governmental Authority to the extent that it has jurisdiction over the Company, any Company Subsidiary, or any agent thereof to the extent that it is conducting business involving the Company or any Company Subsidiary (including the U.S. Department of Treasury's Office of Foreign Assets Control's Specially Designated Nationals List, Sectoral Sanctions Identifications List, Non-SDN Menu-Based Sanctions List, and Foreign Sanctions Evaders List; the Denied Persons, Entity, or Unverified Lists of the U.S. Department of Commerce's Bureau of Industry and Security; the Debarred List of the U.S. Department of State's Directorate of Defense Trade Controls; any list of sanctioned persons administered and maintained by the U.S. Department of State relating to nonproliferation, terrorism, Cuba, Iran, or Russia; the EU Consolidated Financial Sanctions List; and any similar lists of other jurisdictions), (b) the government of, located in, resident in, or organized under the laws of a Sanctioned Country, (c) the Government of Venezuela, as defined in Executive Order 13884 of August 5, 2019; (d) otherwise the subject or target of sanctions or blocking measures under applicable Sanctions Laws; or (e) fifty percent (50%) or more owned or controlled by a person or persons described in <u>clauses (a)</u> through <u>(d)</u>.

"***Sanctions Laws***" means applicable trade, economic and financial sanctions Laws, regulations, embargoes, and restrictive measures administered or enforced by (i) the United States (including without limitation the U.S. Department of the Treasury's Office of Foreign Assets Control, the U.S. Department of State, and the U.S. Department of Commerce), (ii) Australia (including without limitation the various sanctions Laws administered by the Australian Government's Department of Foreign Affairs and Trade), (iii) the European Union and enforced by its member states, (iv) the United Nations, (v) His Majesty's Treasury, or (vi) any country in which the Company, any Company Subsidiary, or any agent acting on behalf of the forgoing is performing activities.

"***SiliconAurora JV***" means SiliconAurora Pty Ltd, an Australian proprietary company limited by shares.

"***Software***" means all computer software (in object code or source code format), databases, and related required documentation and materials.

"***SPAC Bylaws***" means the Bylaws of SPAC, dated March 26, 2021, as may be amended or modified.

"***SPAC Certificate of Incorporation***" means the Amended and Restated Certificate of Incorporation of SPAC, dated November 16, 2021, as may be amended or modified.

"***SPAC Material Adverse Effect***" means any Effect that, individually or in the aggregate with all other Effects, (a) has had or would reasonably be expected to be materially adverse to the business, financial condition or results of operations of SPAC; or (b) would reasonably be expected to prevent, materially delay or materially impede the performance by SPAC of its obligations under this Agreement or the consummation of the Transactions; *provided*, *however*, that none of the following shall be deemed to constitute, alone or in combination, or be taken into account in the determination of whether, there has been or will be a SPAC Material Adverse Effect: (i) any change or proposed change in or change in the interpretation of any Law or GAAP after the date of this Agreement; (ii) any change or proposed changes in or change in the interpretation in accounting or reporting principles or requirements after the date of this Agreement; (iii) events or conditions generally affecting the industries or geographic areas in which SPAC operates; (iv) any downturn in general economic conditions, including changes in the credit, debt, securities, financial or capital markets (including changes in interest or exchange rates, prices of any security or market index or commodity or any disruption of such markets); (v) acts of war, sabotage, civil unrest or terrorism (including in the Ukraine), or any escalation or worsening of any such acts of war, sabotage, civil unrest or terrorism, or changes in global, national, regional, state or local political or social conditions; (vi) any hurricane, tornado, flood, earthquake, natural disaster, or other acts of God, (vii) any actions taken by SPAC as required by this Agreement or any other Transaction Document or at the Company's written request, or (viii) any Effect attributable to the announcement or execution, pendency, negotiation or consummation of the Transactions (*provided*, that this <u>clause (viii)</u> shall not apply to any representations or warranty to the extent the purpose of such representation or warranty is to address the consequences resulting from this Agreement or the consummation of the Transactions), except in the cases of <u>clauses (i)</u> through <u>(vi)</u>, to the extent that SPAC is materially and disproportionately affected thereby as compared with other participants in the industry in which SPAC operates.

"***SPAC Organizational Documents***" means the SPAC Certificate of Incorporation, SPAC Bylaws, SPAC Warrant Agreements and the Trust Agreement, in each case as amended, modified or supplemented from time to time.

"***SPAC Units***" means one share of Class A Common Stock and one-half of one SPAC Warrant.

"***SPAC Warrant Agreements***" means the Warrant Agreements, dated as of November 16, 2021, by and between SPAC and Continental Stock Transfer & Trust Company, as warrant agent, as may be amended or modified.

"***SPAC Warrants***" means warrants to purchase shares of Class A Common Stock, with each warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50 per share.

"***Standard Inbound License***" means any nonexclusive license granted to the Company or any Company Subsidiary (a) for uncustomized software that is generally commercially available to the public or commercial entities generally on standard terms and conditions, (b) for Open Source Materials, (c) to Intellectual Property that is not material to the Company Business pursuant to employee or consulting agreements, (d) in the ordinary course of business for the use of a name, logo or feedback for marketing or similar purposes, (e) in nondisclosure agreements for use in evaluation and negotiation permitted by such agreements or (f) pursuant to a perpetual, irrevocable, fully paid up, royalty-free license agreement that is not subject to any termination by the licensor.

"***Standard Outbound License***" means any nonexclusive license granted by the Company or any Company Subsidiary (a) to its customers or distributors in the ordinary course of business or (b) to vendors and service providers for the purpose of providing the applicable services to the Company or any Company Subsidiary.

"***subsidiary***" or "***subsidiaries***" means, with respect to any person, any other person of which at least a majority of the Equity Securities having by their terms ordinary voting power to elect a majority of the board of directors or other persons performing similar functions is directly or indirectly owned or controlled by such person and/or one or more of its subsidiaries; *provided*, that, the SiliconAurora JV shall be deemed a subsidiary of the Company for purposes of this Agreement.

"***Supplier***" means any person that supplies inventory or other materials or personal property, components, or other goods or services (including, design, development and manufacturing services) that are utilized in, including in connection with the design, development, manufacture or sale of, or comprise the Products of the Company or any Company Subsidiary.

"***Takeover Laws***" means any "business combination," "fair price," "moratorium," "control share acquisition" or other similar Law applicable to the Company.

"***Tax***" (including, with correlative meaning, the term "***Taxes***") means any and all federal, state and local and non-U.S. taxes (and other fees, assessments and similar charges in the nature of a tax) imposed by a Governmental Authority, including with respect to income, profits, franchise, gross receipts, environmental, capital stock, severance, stamp, payroll, sales, employment, unemployment, disability, use, property, withholding, excise, production, value added, social insurance, customs, occupancy, duties, and tariffs, together with all interest, penalties and additions imposed with respect thereto.

"***Tax Return***" means any return or report (including any election, declaration, disclosure, schedule, estimate and information return, as well as attachments thereto and amendments thereof) supplied or required to be supplied to a Taxing Authority and related to Taxes or the administration of Tax-related matters.

"***Taxing Authority***" means, with respect to any Tax, the Governmental Authority competent to impose such Tax or responsible for the administration or collection of such Tax or enforcement of any Law in relation to Tax.

"***Trading Day***" means any day on which Company Shares are actually traded on the principal securities exchange or securities market on which Company Shares are then traded.

"***Transaction Documents***" means this Agreement, including all Schedules and Exhibits hereto, the Company Disclosure Schedule, the SPAC Disclosure Schedule, the Noteholder Support and Loan Termination Agreement, the Notes Subscription Agreements, the Additional Notes Subscription Agreements, the Equity Subscription Agreements, the Additional Equity Subscription Agreements, the Support Agreement, the Shareholder and Registration Rights Agreement, the Services Agreement, the Development Agreement and all other agreements, certificates and instruments executed and delivered by SPAC, Merger Sub, or the Company in connection with the Transactions and specifically contemplated by this Agreement.

"***Transactions***" means the transactions contemplated by this Agreement and the Transaction Documents, including the Merger, the Company Split Adjustment, the MEP Share Conversion, the Existing Convertible Note Conversion, the Convertible Financing, the PIPE Financing and the conversion of the senior convertible notes pursuant to their terms.

"***Treasury Regulations***" means the U.S. Treasury regulations issued pursuant to the Code.

"***Triggering Event I***" means the date on which the volume-weighted average closing sale price of one Company Share quoted on the New York Stock Exchange (or the exchange on which the Company Shares are then listed) is greater than or equal to $12.50 for any twenty (20) Trading Days within any thirty (30) consecutive Trading Day period within the Earnout Period.

"***Triggering Event II***" means the date on which the volume-weighted average closing sale price of one Company Share quoted on the New York Stock Exchange (or the exchange on which the Company Shares are then listed) is greater than or equal to $15.00 for any twenty (20) Trading Days within any thirty (30) consecutive Trading Day period within the Earnout Period.

"***Triggering Event III***" means the date on which the volume-weighted average closing sale price of one Company Share quoted on the New York Stock Exchange (or the exchange on which the Company Shares are then listed) is greater than or equal to $17.50 for any twenty (20) Trading Days within any thirty (30) consecutive Trading Day period within the Earnout Period.

"***Triggering Event IV***" means the date on which a notice to proceed (howsoever defined) is issued (as determined in good faith by the Company Board) under a contract in respect of the procurement of a 30MW/288MWhr concentrated solar power project at Port Augusta in South Australia.

"***Triggering Events***" means Triggering Event I, Triggering Event II, Triggering Event III and Triggering Event IV, collectively.

Section 1.2 <u>Further Definitions</u>. The following terms have the meaning set forth in the Sections set forth below:

---

| | |
|:---|:---|
| **Defined Term** | **Location of Definition** |
| 2023 Equity Incentive Plan | Section 7.5(a) |
| Action | Section 4.10 |
| Affected Shareholder | Section 3.3(h) |
| AgCentral | Recitals |
| Agreement | Preamble |
| Antitrust Laws | Section 7.13(a) |
| Balance Sheet | Section 4.8(a) |
| Blue Sky Laws | Section 4.5(b) |
| Certificate of Merger | Section 2.2(a) |
| Change in Recommendation | Section 7.2 |
| Change in Recommendation Notice | Section 7.2 |
| Class A Common Stock | Recitals |
| Closing | Section 2.2(a) |
| Closing Date | Section 2.2(a) |
| Company | Preamble |
| Company Acquisition Proposal | Section 7.4(a) |
| Company Board | Recitals |
| Company Constitution | Section 2.4(c) |
| Company Disclosure Schedule | Article IV |
| Company Permits | Section 4.6 |
| Company Shareholders | Recitals |
| Company Split Adjustment | Recitals |
| Company Warrant | Section 3.1(c)(iv) |
| Confidentiality Agreement | Section 7.3(b) |
| Contracting Parties | Section 10.11 |
| Contribution | Section 4.14(e) |
| Contributor | Section 4.14(e) |
| Convertible Financing | Recitals |
| Development Agreement | Recitals |
| DGCL | Recitals |
| D&O Insurance | Section 7.6(c) |
| Earnout Shares | Section 3.3(a) |
| Effective Time | Section 2.2(a) |
| Environmental Permits | Section 4.16 |
| Equity Subscription Agreements | Recitals |
| ERISA | Section 4.11(a) |
| ERISA Affiliate | Section 4.11(d) |
| Exchange Act | Section 4.23 |
| Exchange Agent | Section 3.2(a) |
| Exchange Fund | Section 3.2(a) |

---

---

| | |
|:---|:---|
| **Defined Term** | **Location of Definition** |
| Exchange Ratio | Section 3.1(b) |
| Existing Convertible Note Conversion | Recitals |
| Extension Proposal | Section 7.16 |
| Financial Statements | Section 4.8(a) |
| Financing Agreements | Section 7.8(d) |
| Foreign Plan | Section 4.11(k) |
| Fully Diluted Common Stock | Section 7.5(a) |
| Governmental Authority | Section 4.5(b) |
| IRS | Section 3.2(g) |
| Lease | Section 4.13(b) |
| Material Contracts | Section 4.17(a) |
| MEP Share Conversion | Section 3.1(a) |
| Merger | Recitals |
| Merger Sub | Preamble |
| Merger Sub Board | Recitals |
| Nabors | Recitals |
| Nabors Lux 2 | Recitals |
| Nonparty Affiliates | Section 10.11 |
| Noteholder Support and Loan Termination Agreement | Recitals |
| Notes Subscription Agreement | Recitals |
| Outside Date | Section 9.1(b) |
| Outstanding Company Transaction Expenses | Section 3.6(a) |
| Outstanding SPAC Transaction Expenses | Section 3.6(b) |
| PCAOB Audited Financial Statements | Section 7.14 |
| PCAOB Financial Statements | Section 7.14 |
| PCAOB Reviewed Financial Statements | Section 7.14 |
| Per Share Merger Consideration | Section 3.1(c)(ii) |
| PIPE Financing | Recitals |
| Plans | Section 4.11(a) |
| Pre-Closing Transactions | Section 3.1(a) |
| Proxy Statement | Section 7.1(a) |
| Redemption Shares | Section 3.1(b) |
| Registration Statement | Section 7.1(a) |
| Released Claims | Section 6.3 |
| Remedies Exceptions | Section 4.4 |
| Representatives | Section 7.3(a) |
| Retained Claims | Section 6.3 |
| SEC | Section 5.7(a) |
| Securities Act | Section 5.7(a) |
| Services Agreement | Recitals |
| SGA Act | Section 4.12(l) |
| Shareholder and Registration Rights Agreement | Recitals |
| SPAC | Preamble |
| SPAC Acquisition Proposal | Section 7.4(b) |

---

---

| | |
|:---|:---|
| **Defined Term** | **Location of Definition** |
| SPAC Board | Recitals |
| SPAC Disclosure Schedule | Article V |
| SPAC Merger Proposal | Section 7.1 |
| SPAC Preferred Stock | Section 5.3(a) |
| SPAC Proposals | Section 7.1(a) |
| SPAC SEC Reports | Section 5.7(a) |
| SPAC Stockholder Approval | Section 5.10(b) |
| SPAC Stockholders' Meeting | Section 7.1(a) |
| SPAC Tail Policy | Section 7.6(d) |
| Sponsor | Preamble |
| Stock Buyback Tax | Section 7.10(b) |
| Support Agreement | Recitals |
| Surviving Corporation | Section 2.1 |
| Tax Claim | Section 4.15(a) |
| Terminating Company Breach | Section 9.1(f) |
| Terminating SPAC Breach | Section 9.1(g) |
| Transfer Taxes | Section 7.10(b) |
| Trust Account | Section 5.13 |
| Trust Agreement | Section 5.13 |
| Trust Fund | Section 5.13 |
| Trustee | Section 5.13 |
| Unissued Earnout Shares | Section 3.3(h) |
| WARN Act | Section 4.12(j) |

---

Section 1.3 <u>Construction</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Unless the context of this Agreement otherwise requires, (i) words of any gender include each other gender, (ii) words using the singular or plural number also include the plural or singular number, respectively, (iii) the terms "hereof," "herein," "hereby," "hereto" and derivative or similar words refer to this entire Agreement, (iv) the terms "***Article,***" "***Section,***" "***Schedule***" and "***Exhibit***" refer to the specified Article, Section, Schedule or Exhibit of or to this Agreement, (v) the word "including" means "including without limitation," (vi) the word "or" shall be disjunctive but not exclusive, (vii) references to agreements and other documents shall be deemed to include all subsequent amendments and other modifications thereto and (viii) references to statutes shall include all regulations promulgated thereunder and references to statutes or regulations shall be construed as including all statutory and regulatory provisions consolidating, amending or replacing the statute or regulation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The language used in this Agreement shall be deemed to be the language chosen by the parties to express their mutual intent and no rule of strict construction shall be applied against any party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Whenever this Agreement refers to a number of days, such number shall refer to calendar days unless Business Days are specified. If any action is to be taken or given on or by a particular calendar day, and such calendar day is not a Business Day, then such action may be deferred until the next Business Day.

**Article II** **<br> AGREEMENT AND PLAN OF MERGER**

Section 2.1 <u>The Merger</u>. Upon the terms and subject to the conditions set forth in <u>Article VIII</u>, and in accordance with the DGCL, at the Effective Time (as defined herein), Merger Sub shall be merged with and into SPAC. As a result of the Merger, the separate corporate existence of Merger Sub shall cease and SPAC shall continue as the surviving corporation of the Merger (the "***Surviving Corporation***").

Section 2.2 <u>Effective Time; Closing</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The closing of the Merger (the "***Closing***") shall take place, by electronic delivery of documents and release of signatures (by .PDF (portable document format) and/or electronic mail), as promptly as practicable, but in no event later than three (3) Business Days, after the satisfaction or, if permissible, waiver of the conditions set forth in <u>Article VIII</u> (other than those conditions that by their nature are to be satisfied at the Closing, it being understood that the occurrence of the Closing shall remain subject to the satisfaction or, if permissible, waiver of such conditions at the Closing), or at such other place and time as the parties shall agree in writing. The date on which the Closing shall occur is referred to herein as the "***Closing Date***."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) As promptly as practicable following the Closing, the parties hereto shall cause the Merger to be consummated by filing a certificate of merger (a "***Certificate of Merger***") with the Secretary of State of the State of Delaware, in such form as is required by, and executed in accordance with, the relevant provisions of the DGCL and mutually agreed by the parties (the date and time of the filing of such Certificate of Merger (or such later time as may be agreed by each of the parties hereto and specified in such Certificate of Merger) being the "***Effective Time***").

Section 2.3 <u>Effect of the Merger</u>. At the Effective Time, the effect of the Merger shall be as provided in the applicable provisions of the DGCL. Without limiting the generality of the foregoing, and subject thereto, at the Effective Time, all the property, rights, privileges, immunities, powers, franchises, licenses and authority of SPAC and Merger Sub shall vest in the Surviving Corporation, and all debts, liabilities, obligations, restrictions, disabilities and duties of each of the Company and Merger Sub shall become the debts, liabilities, obligations, restrictions, disabilities and duties of the Surviving Corporation.

Section 2.4 <u>Organizational Documents</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) At the Effective Time, SPAC shall amend and restate, effective as of the Effective Time, the SPAC Certificate of Incorporation in its entirety to be as set forth on <u>Exhibit B</u>, and as so amended shall be the certificate of incorporation of the Surviving Corporation until thereafter amended as provided by the DGCL and such certificate of incorporation (subject to <u>Section 7.6</u>).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) At the Effective Time, SPAC shall amend and restate, effective as of the Effective Time, the SPAC Bylaws in their entirety to be as set forth on <u>Exhibit C</u>, and as so amended shall be the bylaws of the Surviving Corporation until thereafter amended as provided by the DGCL, the certificate of incorporation of the Surviving Corporation and such bylaws (subject to <u>Section 7.6</u>).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Prior to the Closing, the Company shall change from a proprietary company limited by shares to a public company limited by shares and replace the constitution of the Company in its entirety to be as set forth on <u>Exhibit D</u> (the "***Company Constitution***").

**Article III** **<br> issue AND CONVERSION of securities; EXCHANGE OF CERTIFICATES**

Section 3.1 <u>Issue and Conversion of Securities</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company shall (either contemporaneously with, immediately prior to, or immediately after, the Company Split Adjustment and the Existing Convertible Note Conversion) cause each MEP Share that is outstanding immediately prior to such time to be settled by way of a conversion and subdivision of those MEP Shares into Company Shares in accordance with the MEP Deed and the MEP De-SPAC Side Deed (the "***MEP Share Conversion***" and, together with the Existing Convertible Note Conversion and the Company Split Adjustment, the "***Pre-Closing Transactions***"); *provided*, that, for the avoidance of doubt, following the completion all of the Pre-Closing Transactions, the aggregate number of Company Shares outstanding immediately following such corporate actions and immediately prior to the Effective Time shall be 20,500,000 Company Shares (subject to adjustments as contemplated herein). After the MEP Share Conversion, all of the MEP Shares shall no longer be outstanding and shall cease to exist, and each holder of MEP Shares shall thereafter cease to have any rights with respect thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) As used in this Agreement, "***Exchange Ratio***" means one (1); *provided, however*, that (i) the Exchange Ratio shall be adjusted to reflect appropriately the effect of any stock split, reverse stock split, stock dividend, reorganization, recapitalization, reclassification, combination, exchange of shares or other like change, in each case with respect to Class A Common Stock and Founder Shares occurring at or after the Company Split Adjustment and prior to the Effective Time; and (ii) the Exchange Ratio shall be adjusted to reflect appropriately the effect of any stock split, reverse stock split, stock dividend, reorganization, recapitalization, reclassification, combination, exchange of shares or other like change, in each case with respect to Company Shares following the Company Split Adjustment and prior to the Effective Time. Notwithstanding the foregoing, this <u>Section 3.1(b)</u> shall not be construed to permit the Company or SPAC to take any actions with respect to its securities that is prohibited by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) At the Effective Time, by virtue of the Merger and without any action on the part of SPAC, the Company, Merger Sub or any holder of any securities of SPAC, the Company or Merger Sub, the following events will take place simultaneously:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) all shares of Class A Common Stock and Founder Shares held in the treasury of SPAC shall be canceled without any conversion thereof and no payment or distribution shall be made with respect thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) (A) each share of Class A Common Stock issued and outstanding immediately prior to the Effective Time (other than the Redemption Shares) shall be exchanged for a number of Company Shares equal to the Exchange Ratio, (B) all shares of Class F Common Stock and Class B Common Stock issued and outstanding and held by the Sponsor or its transferees (based on a transfer following the date of this Agreement) immediately prior to the Effective Time shall be collectively exchanged for 2,825,000 validly issued and fully paid Company Shares, (C) each share of Class B Common Stock issued and outstanding and not held by the Sponsor immediately prior to the Effective Time shall be exchanged for a number of Company Shares equal to the Exchange Ratio, and (D) each share of Class F Common Stock issued and outstanding and not held by the Sponsor immediately prior to the Effective Time shall be exchanged for a number of Company Shares equal to the Exchange Ratio, in each case, after giving effect to the Company Split Adjustment (collectively, the "***Per Share Merger Consideration***") and thereafter each share of Class A Common Stock, Class F Common Stock and Class B Common Stock shall automatically be cancelled and shall cease to exist and each holder of Class A Common Stock, Class F Common Stock and Class B Common Stock shall cease to have any rights with respect thereto except the right to receive the Per Share Merger Consideration (other than pursuant to and in accordance with the Support Agreement);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) each share of Merger Sub Common Stock issued and outstanding immediately prior to the Effective Time shall be converted into one validly issued, fully paid and non-assessable share of common stock of the Surviving Corporation, par value $0.0001 per share, and shall constitute the only outstanding shares of capital stock of the Surviving Corporation as of immediately after the Effective Time; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the Company shall assume the SPAC Warrant Agreements and enter into such amendments thereto as are necessary to give effect to the provisions of this <u>Section 3.1(c)(iv)</u>, and each SPAC Warrant then outstanding and unexercised shall automatically, without any action on the part of its holder, be converted into a warrant to acquire a number of Company Shares as provided in this <u>Section 3.1(c)(iv)</u> (each such newly-issued warrant, a "***Company Warrant***"). Each Company Warrant shall be subject to the same terms and conditions (including exercisability terms) as were applicable to the corresponding SPAC Warrant immediately prior to the Effective Time, except to the extent such terms or conditions are rendered inoperative by the Transactions. Accordingly, effective as of the Effective Time: (I) each Company Warrant shall be exercisable solely for Company Shares; (II) the number of Company Shares subject to each Company Warrant shall be equal to (x) the number of shares of Class A Common Stock subject to the applicable SPAC Warrant *multiplied* by (y) the Exchange Ratio; and (III) the per share exercise price for the Company Shares issuable upon exercise of such Company Warrant shall be equal to (x) the per share exercise price for the shares of Class A Common Stock subject to the applicable SPAC Warrant, as in effect immediately prior to the Effective Time, *divided* by (y) the Exchange Ratio, rounding the resulting exercise price up to the nearest whole cent; and (IV) no fraction of a Company Share will be issued upon any exercise of any Company Warrants and, if the aggregate number of Company Shares that a holder of any Company Warrants would be entitled to receive upon any exercise of any Company Warrants would otherwise include a fraction of a Company Share, the Company shall, upon such exercise, round down to the nearest whole number the aggregate number of Company Shares to be issued to such holder as a result of the exercise of all such Company Warrants so exercised. The Company shall take all corporate action necessary to reserve for future issuance, and shall maintain such reservation for so long as any of the Company Warrants remain outstanding, a sufficient number of Company Shares for delivery upon the exercise of such Company Warrants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Each share of Class A Common Stock issued and outstanding immediately prior to the Effective Time with respect to which a SPAC stockholder has validly exercised its Redemption Rights (the "***Redemption Shares***") (i) shall be redeemed immediately prior to the Effective Time and shall at such time be converted into the right to receive from SPAC, in cash, an amount per share calculated in accordance with such stockholder's Redemption Rights and (ii) shall not be entitled to receive the Per Share Merger Consideration. At or as promptly as practical after the Effective Time, SPAC shall make such cash payments in respect of each such Redemption Share. As of immediately prior to the Effective Time, all such Redemption Shares shall no longer be outstanding and shall automatically be cancelled and retired and shall cease to exist, and each holder of a Redemption Share (or related certificate or book-entry share) shall cease to have any rights with respect thereto, except the right to receive the cash payments from SPAC referred to in the immediately preceding sentence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) In the event that the Class A Common Stock and SPAC Warrants comprising a single SPAC Unit have not been detached so as to permit separate transferability or trading thereof prior to the Effective Time, then effective immediately prior to the conversions contemplated by <u>Section 3.1(c)</u>, any and all SPAC Units shall be automatically detached and broken out into their constituent parts, such that a holder of one SPAC Unit shall thereupon hold one share of Class A Common Stock and one-half of one SPAC Warrant, and such underlying constituent securities shall be converted in accordance with <u>Section 3.1(c)</u>, respectively; *provided*, *however*, that if upon such detachment, a holder of SPAC Warrants would be deemed to hold a fractional SPAC Warrant, then prior to such conversion the number of SPAC Warrants deemed to be held by such holder shall be rounded down to the nearest whole number.

Section 3.2 <u>Exchange</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Exchange Agent</u>. On the Closing Date, the Company shall deposit, or shall cause to be deposited, with a bank or trust company that shall be designated by the Company and is reasonably satisfactory to SPAC (the "***Exchange Agent***"), for the benefit of the holders of the Class A Common Stock, Class F Common Stock and Class B Common Stock, for exchange in accordance with this <u>Article III</u>, the number of Company Shares issuable pursuant to this Agreement (such Company Shares, together with any dividends or distributions with respect thereto, being hereinafter referred to as the "***Exchange Fund***"). The Company shall cause the Exchange Agent, pursuant to irrevocable instructions, to pay the Per Share Merger Consideration out of the Exchange Fund in accordance with this Agreement. The Exchange Fund shall not be used for any other purpose.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Exchange Procedures</u>. Within two (2) Business Days after the Closing Date (but in no event prior to the Effective Time), the Company shall cause the Exchange Agent to deliver to each holder of the Class A Common Stock, Class F Common Stock and Class B Common Stock, as of immediately prior to the Effective Time, the applicable Per Share Merger Consideration in accordance with the provisions of <u>Section 3.1</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>No Further Rights</u>. Other than pursuant to and in accordance with the Support Agreement, the Per Share Merger Consideration payable upon exchange of the Class A Common Stock, Class F Common Stock and Class B Common Stock to the then holders of such shares in accordance with the terms hereof shall be deemed to have been paid and issued in full satisfaction of all rights of such holders pertaining to such Class A Common Stock, Class F Common Stock and Class B Common Stock, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Termination of Exchange Fund</u>. Any portion of the Exchange Fund that remains undistributed to the holders of Class A Common Stock, Class F Common Stock and Class B Common Stock for one (1) year after the Effective Time shall be delivered to the Company, upon demand, and any holders of Class A Common Stock, Class F Common Stock or Class B Common Stock who have not theretofore complied with this <u>Section 3.2</u> shall thereafter look only to the Company for the Per Share Merger Consideration. Any portion of the Exchange Fund remaining unclaimed by holders of Class A Common Stock, Class F Common Stock and Class B Common Stock as of a date which is immediately prior to such time as such amounts would otherwise escheat to or become property of any Governmental Authority shall, to the extent permitted by applicable law, become the property of the Company free and clear of any claims or interest of any person previously entitled thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>No Liability</u>. None of the Exchange Agent, the Company, Merger Sub or the Surviving Corporation shall be liable to any holder of Class A Common Stock, Class F Common Stock or Class B Common Stock for any share of Class A Common Stock, Class F Common Stock or Class B Common Stock (or dividends or distributions with respect thereto), respectively, or cash delivered to a public official pursuant to any abandoned property, escheat or similar Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Fractional Shares</u>. No certificates or scrip or shares representing fractional Company Shares shall be issued upon the exchange of Class A Common Stock, Class F Common Stock or Class B Common Stock and such fractional share interests will not entitle the owner thereof to vote or to have any rights of a Company Shareholder. In lieu of any fractional Company Share to which any holder of Class A Common Stock, Class F Common Stock and Class B Common Stock would otherwise be entitled, the Exchange Agent shall round up or down to the nearest whole Company Share, with a fraction of 0.5 rounded up. No cash settlements shall be made with respect to fractional shares eliminated by rounding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Withholding</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Notwithstanding anything in this Agreement to the contrary, each of SPAC, the Company, Merger Sub and the Surviving Corporation shall be entitled to deduct or withhold from the consideration (including shares, warrants, options or other property) otherwise payable, issuable or transferable pursuant to this Agreement such amounts as it reasonably determines it is required to deduct or withhold with respect to such payment, issuance or transfer under the Code or any other provision of U.S. federal, state or local or non-U.S. Tax Law, as applicable. To the extent that amounts are so deducted or withheld and paid to the applicable Taxing Authority, such deducted or withheld amounts shall be treated for all purposes of this Agreement as having been paid, issued or transferred to the person in respect of which such deduction or withholding was made. To the extent any party hereto becomes aware of any obligation to deduct or withhold from amounts otherwise payable, issuable or transferable pursuant to this Agreement, such party shall use reasonable best efforts to notify the other parties hereto as soon as reasonably practicable, and the parties hereto shall reasonably cooperate to obtain any certificates or other documentation required in respect of such deduction or withholding obligation and to reduce or eliminate any applicable deduction or withholding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) On or prior to the Closing Date, SPAC shall deliver to the Company a certificate signed by an officer of SPAC, prepared in a manner consistent and in accordance with the requirements of Treasury Regulations Sections 1.897-2(g)-(h) and 1.1445-2(c)(3), certifying that no interest in SPAC is, or has been during the relevant period specified in Section 897(c)(1)(A)(ii) of the Code, a "United States real property interest" within the meaning of Section 897(c) of the Code, and a form of notice to the Internal Revenue Service ("***IRS***") prepared in accordance with the provisions of Treasury Regulations Section 1.897-2(h)(2).

Section 3.3 <u>Earnout</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Following the Closing, subject to <u>Section 3.3(h)</u>, within five (5) Business Days after the occurrence of a Triggering Event, the Company shall issue or cause to be issued to the Eligible Company Shareholders (in accordance with their respective Pro Rata Share), the following Company Shares (which shall be equitably adjusted for any stock split, reverse stock split, stock dividend, reorganization, recapitalization, reclassification, combination, exchange of shares or other like change or transaction with respect to Company Shares occurring after the Closing, the "***Earnout Shares***"), upon the terms and subject to the conditions set forth in this Agreement and the other Transaction Documents:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) upon the occurrence of Triggering Event I, a one-time issuance of 433,333 Earnout Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) upon the occurrence of Triggering Event II, a one-time issuance of 433,333 Earnout Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) upon the occurrence of Triggering Event III, a one-time issuance of 433,333 Earnout Shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) upon the occurrence of Triggering Event IV, a one-time issuance of 1,500,000 Earnout Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) For the avoidance of doubt, the Eligible Company Shareholders shall be entitled to receive Earnout Shares upon the occurrence of each Triggering Event; *provided*, *however*, that each Triggering Event shall only occur once, if at all, and in no event shall the Eligible Company Shareholders be entitled to receive more than an aggregate of 2,799,999 Earnout Shares (other than in connection with any adjustments as set forth herein).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If, during the Earnout Period, there is a Change of Control, then (A) immediately prior to such Change of Control, the Company shall issue an aggregate of 1,500,000 Company Shares to the Eligible Company Shareholders (in accordance with each Eligible Company Shareholder's respective Pro Rata Share) (less any Earnout Shares issued prior to such Change of Control pursuant to <u>Section 3.3(a)(iv)</u>) and (B) thereafter, <u>Section 3.3(a)(iv)</u> and this <u>Section 3.3(c)</u> shall terminate and no further Earnout Shares shall be issuable thereunder or hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If, during the Earnout Period, there is a Change of Control pursuant to which the Company or the Company Shareholders have the right to receive consideration implying a value per Company Share (as determined in good faith by the Company Board) of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) less than $12.50, then <u>Section 3.3(a)(i)-(iii)</u> and this <u>Section 3.3(d)</u> shall terminate and no further Earnout Shares shall be issuable thereunder or hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) greater than or equal to $12.50 but less than $15.00, then, (A) immediately prior to such Change of Control, the Company shall issue 433,333 Company Shares to the Eligible Company Shareholders (in accordance with their respective Pro Rata Share) (less any Earnout Shares issued prior to such Change of Control pursuant to <u>Section 3.3(a)(i)-(iii)</u>; *provided*, that such reduction shall not reduce the number of Company Shares required to be issued to a number that is below zero) and (B) thereafter, <u>Section 3.3(a)(i)-(iii)</u> and this <u>Section 3.3(d)</u> shall terminate and no further Earnout Shares shall be issuable thereunder or hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) greater than or equal to $15.00 but less than $17.50, then, (A) immediately prior to such Change of Control, the Company shall issue 866,666 Company Shares to the Eligible Company Shareholders (in accordance with their respective Pro Rata Share) (less any Earnout Shares issued prior to such Change of Control pursuant to <u>Section 3.3(a)(i)-(iii)</u>; *provided*, that such reduction shall not reduce the number of Company Shares required to be issued to a number that is below zero) and (B) thereafter, <u>Section 3.3(a)(i)-(iii)</u> and this <u>Section 3.3(d)</u> shall terminate and no further Earnout Shares shall be issuable thereunder or hereunder; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) greater than or equal to $17.50, then, (A) immediately prior to such Change of Control, the Company shall issue 1,299,999 Company Shares to the Eligible Company Shareholders (in accordance with their respective Pro Rata Share) (less any Earnout Shares issued prior to such Change of Control pursuant to <u>Section 3.3(a)(i)-(iii)</u>; *provided*, that such reduction shall not reduce the number of Company Shares required to be issued to a number that is below zero) and (B) thereafter, <u>Section 3.3(a)(i)-(iii)</u> and this <u>Section 3.3(d)</u> shall terminate and no further Earnout Shares shall be issuable thereunder or hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Company Share price targets set forth in the definitions of Triggering Event I, Triggering Event II and Triggering Event III, and in <u>clauses (i)</u>, <u>(ii)</u>, <u>(iii)</u> and <u>(iv)</u> of <u>Section 3.3(d)</u> shall be equitably adjusted for any stock split, reverse stock split, stock dividend, reorganization, recapitalization, reclassification, combination, exchange of shares or other like change or transaction with respect to Company Shares occurring after the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) No certificates or scrip or shares representing fractional Earnout Shares shall be issued pursuant to this <u>Section 3.3</u> and such fractional share interests will not entitle the owner thereof to vote or to have any rights of a Company Shareholder. In lieu of any fractional Earnout Shares to which any holder of Eligible Company Shareholder would otherwise be entitled, the Company shall round down to the nearest whole Earnout Share. No cash settlements shall be made with respect to fractional shares eliminated by rounding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) The Company shall use its reasonable best efforts to do all things necessary (including obtaining any shareholder or other approvals required under applicable Laws) to issue Earnout Shares in accordance with this <u>Section 3.3</u> as soon as practicable following a Triggering Event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) If, in respect of an Eligible Company Shareholder ("***Affected Shareholder***"), (A) the Company reasonably determines that obtaining any approval of its shareholders or any other approval is required under applicable Law in order to issue Earnout Shares to such Eligible Company Shareholder pursuant to this <u>Section 3.3</u>, the Company promptly seeks such requisite shareholder or other approval and fails to obtain such shareholder or other approval within six (6) months after the occurrence of a Triggering Event, or (B) an issue of Earnout Shares to an Affected Shareholder is subsequently unwound by order of a Governmental Authority, (collectively "***Unissued Earnout Shares***"), then, the Company shall promptly (and in any event within ten (10) Business Days)) pay to such Affected Shareholder an amount of cash to the value of the Unissued Earnout Shares calculated based upon a price per Unissued Earnout Share equal to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) if the Unissued Earnout Shares relate to Triggering Events I, II or III, the price per Company Share that gives rise to the relevant Triggering Event; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) if the Unissued Earnout Shares relate to Triggering Event IV, the volume-weighted average closing sale price of publicly traded Company Shares for the ten (10) days immediately prior to the occurrence of Triggering Event IV.

Section 3.4 <u>SPAC Stock Transfer Books</u>. At the Effective Time, the stock transfer books of SPAC shall be closed and there shall be no further registration of transfers of Class A Common Stock or Founder Shares thereafter on the records of SPAC.

Section 3.5 <u>No Appraisal and Dissenters' Rights</u>. No dissenters' or appraisal rights shall be available with respect to the Merger.

Section 3.6 <u>Payment of Expenses</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) No sooner than five (5) Business Days or later than two (2) Business Days prior to the Closing Date, the Company shall provide to SPAC a written report setting forth a list of all of the following costs, fees and expenses incurred by or on behalf of the Company in connection with the review, preparation, negotiation and execution of this Agreement and the consummation of the Transactions (together with written invoices and wire transfer instructions for the payment thereof), solely to the extent such fees and expenses are incurred and expected to remain unpaid as of the close of business on the Business Day immediately preceding the Closing Date: (i) all fees, costs, expenses, brokerage fees, commissions, finders' fees and disbursements of financial advisors, investment banks, data room administrators, attorneys, auditors and accountants, due diligence expenses and other advisors, consultants and service providers, (ii) change-in-control payments, transaction bonuses, retention payments, severance or similar compensatory payments payable by the Company to any current or former employee (including any amounts due under any consulting agreement with any such former employee), independent contractor, officer, or director of the Company as a result of the Transactions (and not tied to any subsequent event or condition, such as a termination of employment), including the employer portion of payroll Taxes arising therefrom, (iii) any and all filing fees payable by the Company to any Governmental Authorities under Antitrust Laws in connection with the Transactions and (iv) amounts owing or that may become owed, payable or otherwise due, directly or indirectly, by the Company to any affiliate of the Company or any Company Subsidiary in connection with the consummation of the Transactions (collectively, the "***Outstanding Company Transaction Expenses***"). On the Closing Date, the Company shall pay or cause to be paid by wire transfer of immediately available funds all such Outstanding Company Transaction Expenses. For the avoidance of doubt, the Outstanding Company Transaction Expenses shall not include any fees and expenses incurred by the Company's stockholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) No sooner than five (5) Business Days or later than two (2) Business Days prior to the Closing Date, SPAC shall provide to the Company a written report setting forth a list of all fees, expenses and disbursements incurred by or on behalf of SPAC, including the SPAC Tail Policy and fees, expenses and disbursements for outside counsel, agents, advisors, consultants, experts, financial advisors and other service providers engaged by or on behalf of SPAC in connection with the Transactions (including the Convertible Financing and the PIPE Financing) or otherwise in connection with SPAC's operations (together with written invoices and wire transfer instructions for the payment thereof) (collectively, the "***Outstanding SPAC Transaction Expenses***"). On the Closing Date, the Company shall pay or cause to be paid by wire transfer of immediately available funds all such Outstanding SPAC Transaction Expenses.

**Article IV** **<br> REPRESENTATIONS AND WARRANTIES OF THE COMPANY**

Except as set forth in the Company's disclosure schedule delivered by the Company in connection with this Agreement (the "***Company Disclosure Schedule***") (*provided*, that any matter required to be disclosed shall only be disclosed by specific disclosure in the corresponding section of the Company Disclosure Schedule, except to the extent that such information is cross-referenced to another part of the Company Disclosure Schedule or it is reasonably apparent on the face of such disclosure that such information would qualify another provision in the Agreement), the Company hereby represents and warrants to SPAC as follows; *provided*, that all of the representations and warranties set forth in this Article IV (other than those representations and warranties set forth in <u>Section 4.3(f)</u>) shall be deemed to be qualified by the phrase "to the knowledge of the Company" to the extent any such representations and warranties are applicable to SiliconAurora JV:

Section 4.1 <u>Organization and Qualification; Subsidiaries</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company and each Company Subsidiary is a corporation or other organization duly incorporated and validly existing under the laws of the jurisdiction of its incorporation or organization and has the requisite corporate or other organizational power and authority to own, lease and operate its properties and to carry on its business as it is now being conducted. The Company and each Company Subsidiary is duly qualified or licensed to do business, in each jurisdiction where the character of the properties owned, leased, licensed or operated by it or the nature of its business makes such qualification or licensing necessary, except for such failures to be so qualified or licensed and in good standing that, individually or in the aggregate, have not had and would not reasonably be expected to have a Company Material Adverse Effect. Neither the Company nor any Company Subsidiary (other than Merger Sub) is duly qualified or licensed to do business in the United States.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Set forth in <u>Section 4.1(b)</u> of the Company Disclosure Schedule is a true and complete list of all of the Company Subsidiaries, together with the jurisdiction of organization of each Company Subsidiary and the percentage of the outstanding Equity Securities of each Company Subsidiary owned by the Company and each other Company Subsidiary. The Company does not directly or indirectly own any Equity Securities in any other corporation, partnership, joint venture or business association or other entity except as set forth in <u>Section 4.1(b)</u> of the Company Disclosure Schedule.

Section 4.2 <u>Organizational Documents</u>. The Company has prior to the date of this Agreement made available to SPAC a complete and correct copy of the certificate of incorporation and constitution as replaced as of the date of this Agreement, of the Company and each Company Subsidiary. Such certificates of incorporation and constitution are in full force and effect. Neither the Company nor any Company Subsidiary is in violation in any material respect of the provisions of its respective constituent documents.

Section 4.3 <u>Capitalization</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Section 4.3(a)</u> of the Company Disclosure Schedule sets forth a true and complete statement as of the date of this Agreement of (i) the number and class or series (as applicable) of all of the Equity Securities of the Company issued and outstanding and (ii) the identity of the persons that are the owners thereof. Except as set forth on <u>Section 4.3(a)</u> of the Company Disclosure Schedule, the Company does not have any issued and outstanding Equity Securities as of the date of this Agreement. All of the outstanding Company Shares have been validly issued and are fully paid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company has made available to SPAC an accurate and complete copy of the MEP Deed and MEP De-SPAC Side Deed pursuant to which the Company has granted the MEP Shares that are currently outstanding and the form of all share and share based award agreements evidencing the MEP Shares, as applicable. All Company Shares subject to issuance upon the settlement of the MEP Shares in accordance with the MEP Deed and MEP De-SPAC Side Deed, upon issuance on the terms and conditions specified in the MEP Deed and MEP De-SPAC Side Deed, will be, subject to any restrictions in the MEP Deed and MEP De-SPAC Side Deed, validly issued and fully paid and the former holders of those MEP Shares will have no rights in respect of those MEP Shares other than arising from the holding of Company Shares so issued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Equity Securities of the Company (i) were not issued in violation of the constituent documents of the Company, or in violation of any other Contract to which the Company is party or bound, and (ii) were not issued in violation of any preemptive rights, call option, right of first refusal or first offer, subscription rights, or similar rights of any person. Except for the Existing Company Convertible Notes, the MEP Shares and as contemplated by the Convertible Financing and the PIPE Financing, neither the Company nor any Company Subsidiary has any outstanding (x) equity appreciation, phantom equity or profit participation rights or (y) options, phantom shares, warrants, purchase rights, preemptive rights, subscription rights, convertible securities, conversion rights, exchange rights, calls, puts, rights of first refusal or first offer or other Contracts that could require the Company or any Company Subsidiary to issue, sell or otherwise cause to become outstanding or to acquire, repurchase or redeem any Equity Securities of the Company or any Company Subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Except as set forth on <u>Section 4.3(d)</u> of the Company Disclosure Schedule, there are no voting trusts, proxies or other Contracts with respect to the voting or transfer of the Company's or any Company Subsidiary's Equity Securities to which the Company or any Company Subsidiary is a party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Section 4.3(e)</u> of the Company Disclosure Schedule sets forth a list of all Company Change of Control Payments as of the date of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Each outstanding share of each Company Subsidiary is validly issued and fully paid, and each such share is owned 100% by the Company or another Company Subsidiary free and clear of all Liens, options, rights of first refusal and limitations on the Company's or any Company Subsidiary's voting rights, other than transfer restrictions under applicable securities laws and their respective constituent documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Each offer and sale, redemption, and repurchase of Equity Securities of the Company and the Company Subsidiaries, was in compliance with all applicable Laws in all material respects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) To the Company's knowledge, all Company Shareholders and holders of Existing Company Convertible Notes and MEP Shares that are expected to receive Company Shares pursuant to this Agreement are "accredited investors" within the meaning of Regulation D promulgated by the SEC under the Securities Act and persons in respect of which "disclosure to investors" within the meaning of Chapter 6D of the Corporations Act is not required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) As of the date of this Agreement, the authorized capital stock of Merger Sub consists of 1,000 shares of Merger Sub Common Stock. As of the date of this Agreement, 1,000 shares of Merger Sub Common Stock are issued and outstanding. All outstanding shares of Merger Sub Common Stock have been duly authorized, validly issued, fully paid and are non-assessable and are not subject to preemptive rights, and are held by the Company free and clear of all Liens (other than Permitted Liens), applicable securities laws and the Merger Sub Organizational Documents.

Section 4.4 <u>Authority Relative to this Agreement</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company has all necessary corporate power and authority to execute and deliver this Agreement, to perform its obligations hereunder and to consummate the Transactions. The execution and delivery of this Agreement by the Company and the consummation by the Company of the Transactions have been duly and validly authorized by all necessary corporate action, and no other corporate proceedings on the part of the Company are necessary to authorize this Agreement or to consummate the Transactions. This Agreement has been duly and validly executed and delivered by the Company and, assuming the due authorization, execution and delivery by SPAC, Nabors, Sponsor and Merger Sub, constitutes a legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors' rights generally, by general equitable principles (the "***Remedies Exceptions***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Merger Sub has all necessary corporate power and authority to execute and deliver this Agreement, to perform its obligations hereunder and, subject to the approval and adoption of this Agreement by the holders of a majority of the then outstanding shares of Merger Sub Common Stock, to consummate the Transactions. The execution and delivery of this Agreement by Merger Sub and the consummation by Merger Sub of the Transactions have been duly and validly authorized by all necessary corporate action, and no other corporate proceedings on the part of Merger Sub are necessary to authorize this Agreement or to consummate the Transactions (other than the approval and adoption of this Agreement by the holders of a majority of the then outstanding shares of Merger Sub Common Stock, and the filing and recordation of appropriate merger documents as required by the DGCL). This Agreement has been duly and validly executed and delivered by Merger Sub and, assuming the due authorization, execution and delivery by SPAC, Nabors, Sponsor and the Company, constitutes a legal, valid and binding obligation of Merger Sub, enforceable against Merger Sub in accordance with its terms, except as limited by the Remedies Exceptions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Merger Sub Board has approved this Agreement and the Transactions, and such approvals are sufficient so that the restrictions on business combinations set forth in Section 203 of the DGCL shall not apply to the Merger, this Agreement, any Transaction Documents or any of the other Transactions. To the knowledge of the Company, no other state takeover statute is applicable to the Merger or the other Transactions.

Section 4.5 <u>No Conflict; Required Filings and Consents</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The execution and delivery of this Agreement by the Company and Merger Sub does not, and the performance of this Agreement by the Company and Merger Sub will not, and subject to receipt of the consents, approvals, authorizations or permits, filings and notifications, expiration or termination of waiting periods after filings and other actions contemplated by <u>Section 4.5(a)</u> of the Company Disclosure Schedule, the performance of this Agreement by the Company and Merger Sub and the consummation of the Transactions by the Company and Merger Sub will not (i) conflict with or violate the certificate of incorporation or constituent documents of the Company or any Company Subsidiary, (ii) assuming compliance with the matters referred to in <u>Section 4.5(b)</u>, conflict with or violate any Law applicable to the Company or any Company Subsidiary or by which any property or asset of the Company or any Company Subsidiary is bound or affected, or (iii) result in any breach of or constitute a default (or an event which, with notice or lapse of time or both, would become a default) under, or give to others any right of termination, amendment, acceleration or cancellation of, or result in the creation of a Lien (other than any Permitted Lien) on any property or asset of the Company or any Company Subsidiary pursuant to, any Contract to which the Company or any Company Subsidiary is a party or any of their property or assets are bound or affected, except, with respect to <u>clauses (ii)</u> and <u>(iii)</u>, for any such conflicts, violations, breaches, defaults or other occurrences which would not individually or in the aggregate have or reasonably be expected to have a Company Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The execution and delivery of this Agreement by the Company and Merger Sub does not, and the performance of this Agreement by the Company and Merger Sub and the consummation of the Transactions by the Company and Merger Sub will not, require the Company or Merger Sub to obtain any consent, approval, authorization or permit of, or filing with or notification to, any United States federal, state, county or local or non-United States government, governmental or quasi-governmental, regulatory or administrative authority or office, any political or other subdivision thereof, agency, instrumentality, bureau, authority, body or commission or any court, tribunal, or judicial or arbitral body (each a "***Governmental Authority***"), except (i) for applicable requirements, if any, of the Securities Act, the Exchange Act and state securities or "blue sky" laws ("***Blue Sky Laws***"), and the filing and approval requirements under the FATA (if required) and (ii) where the failure to obtain such consents, approvals, authorizations or permits, or to make such filings or notifications, would not individually or in the aggregate have or reasonably be expected to have a Company Material Adverse Effect.

Section 4.6 <u>Permits; Compliance</u>. Except for such failures that, individually or in the aggregate, have not had and would not reasonably be expected to have a Company Material Adverse Effect, the Company and the Company Subsidiaries are in possession of all authorizations, licenses, permits, consents, certificates, approvals and orders of any Governmental Authority necessary for the Company and the Company Subsidiaries to own, lease and operate its properties and to carry on its business as it is now being conducted (the "***Company Permits***"), and, to the extent that further Company Permits have been sought by the Company and the Company Subsidiaries but not yet obtained, the Company and the Company Subsidiaries have complied with all processes, Laws and orders of any Governmental Authority related thereto. No suspension or cancellation of any of the Company Permits is pending or, to the knowledge of the Company, threatened. Neither the Company nor any Company Subsidiary is in conflict with, or in default, breach or violation of, (a) any Law applicable to the Company or any Company Subsidiary or by which any property or asset of the Company or any Company Subsidiary is bound or affected, or (b) any Company Permit except, in each case, for any such conflicts, defaults, breaches or violations that, individually or in the aggregate, have not had and would not reasonably be expected to have a Company Material Adverse Effect.

Section 4.7 <u>Information Privacy and Security Compliance</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Since January 1, 2020, except for such failures that, individually or in the aggregate, have not had and would not reasonably be expected to have a Company Material Adverse Effect, the collection, use, analysis, disclosure, retention, storage, security and dissemination of Personal Information by the Company or any Company Subsidiary complies with, and has not violated, (i) any applicable Contract, (ii) any applicable Law, including Privacy/Data Security Laws, (iii) any person's right of publicity or (iv) any published privacy policy of the Company or any Company Subsidiary, then in effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Since January 1, 2020, the Company has maintained commercially reasonable security measures to protect the confidentiality, integrity and availability of Personal Information and non-public information in its or any Company Subsidiary's possession or control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Since January 1, 2020, to the knowledge of the Company, no person has gained unauthorized access to or made any unauthorized use of any Personal Information or other non-public information maintained by the Company or any Company Subsidiary and, to the knowledge of the Company, neither the Company nor any Company Subsidiary has been legally required to provide notice to any individuals, customers, third parties, or any Governmental Authority, nor has the Company or any Company Subsidiary provided any such notice relating to any unauthorized access to or use of Personal Information or other non-public information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) To the knowledge of the Company, since January 1, 2020, (i) there have been no material security breaches in the Business Systems used by the Company or any Company Subsidiary, and (ii) the Business Systems and all Software owned by the Company or any Company Subsidiary is free from any material software defect, and does not contain any virus, software routine or hardware component designed to permit unauthorized access or to disable or otherwise harm any computer, systems or software.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) To the knowledge of the Company, (i) no Company Shareholder is under investigation by any Governmental Authority for a violation of any Privacy/Data Security Laws; (ii) since January 1, 2020, neither the Company nor any Company Subsidiary has received any written notices from any Governmental Authority relating to any such violations; and (iii) to the Company's knowledge, since January 1, 2020, no representative of the Company or any Company Subsidiary has acted in a manner that would trigger a notification or reporting requirement under any Contract, or any Privacy/Data Security Laws related to the collection, use, disclosure, or security of Personal Information.

Section 4.8 <u>Financial Statements</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company has made available to SPAC true and complete copies of (i) the audited consolidated balance sheets and the related audited consolidated statements of operations and cash flows (or equivalent financial statements, as applicable) of the Company and the Company Subsidiaries for the fiscal years ended June 30, 2020 and June 30, 2021, each audited in accordance with the Australian Auditing Standards and Interpretations, and (ii) the unaudited consolidated balance sheets and the related unaudited consolidated statements of operations and cash flows (or equivalent financial statements, as applicable) of the Company and the Company Subsidiaries for the fiscal year ended June 30, 2022 (collectively, the "***Financial Statements***" and the balance sheet as of June 30, 2022 included in the Financial Statements being referred to herein as the "***Balance Sheet***"), each of which are attached as <u>Section 4.8(a)</u> of the Company Disclosure Schedule. Each of the Financial Statements (including the notes thereto) (i) was prepared in accordance with applicable Local GAAP, applied on a consistent basis throughout the periods indicated (except as may be indicated in the notes thereto) and (ii) fairly presents, in all material respects, the financial position, results of operations and cash flows of the Company and the Company Subsidiaries as at the date thereof and for the period indicated therein. No financial statements of any person other than the Company and the Company Subsidiaries are required by Local GAAP to be included in the consolidated financial statements of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except as and to the extent set forth on the Balance Sheet, the Company and the Company Subsidiaries do not have any liability or obligation of any nature (whether accrued, absolute, contingent or otherwise), except for: (i) liabilities that were incurred in the ordinary course of business since the date of the Balance Sheet (and in any event do not relate to breach of Contract, tort or noncompliance with Law), (ii) obligations for future performance under any Contract, Law or Company Permit to which the Company or the relevant Company Subsidiary is a party or (iii) liabilities and obligations which, individually or in the aggregate, have not had and would not reasonably be expected to result in a Company Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Since January 1, 2020, neither the Company nor any Company Subsidiary nor, to the Company's knowledge, any director, officer, employee, auditor or accountant, has received or otherwise had or obtained knowledge of any complaint, allegation, assertion or claim, whether written or, to the knowledge of the Company, oral, regarding any fraud or whistle-blower allegations, whether or not material, that involved the Company's management or other employees who have a role in the preparation of financial statements by the Company. Since January 1, 2020, there have been no internal unresolved, material investigations regarding accounting or revenue recognition initiated at the direction of the chief executive officer, chief financial officer, general counsel, the Company Board or any committee thereof or any of the Company's auditors or accounting advisors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) To the knowledge of the Company, since January 1, 2020, no employee of the Company or any Company Subsidiary has provided or is providing information to any law enforcement agency regarding the commission or possible commission of any crime or the violation or possible violation of any applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Except for the Existing Company Convertible Notes and indebtedness of the Company under the AgCentral Loan Agreements, the Company has no indebtedness for borrowed money and has not granted any Liens (other than Permitted Liens). Any Lien in respect of the Existing Company Convertible Notes, indebtedness under the AgCentral Loan Agreements or any other indebtedness of the Company will be fully discharged at or prior to the Closing Date.

Section 4.9 <u>Absence of Certain Changes or Events</u>. Since the date of the Balance Sheet and prior to the date of this Agreement, except as otherwise reflected in the Financial Statements, or as expressly contemplated by this Agreement, (a) the Company and the Company Subsidiaries have conducted their respective businesses in all material respects in the ordinary course, (b) the Company and the Company Subsidiaries have not sold, assigned, transferred, permitted to lapse, abandoned or otherwise disposed of any right, title, or interest in or to any of their respective material assets (including Intellectual Property and Business Systems) other than nonexclusive licenses or assignments or transfers in the ordinary course of business, (c) there has not been any Company Material Adverse Effect and (d) neither the Company nor any Company Subsidiary has taken any action that, if taken after the date of this Agreement, would constitute a breach of any of the covenants set forth in <u>Section 6.1(b)(iii)</u>, <u>Section 6.1(b)(v)</u>, <u>Section 6.1(b)(vii)</u>, <u>Section 6.1(b)(x)</u>, <u>Section 6.1(b)(xx)</u>, <u>Section 6.1(b)(xxi),</u> and, only with respect to the covenants in each of the foregoing subsections of <u>Section 6.1(b)</u>, <u>Section 6.1(b)(xxiii)</u>.

Section 4.10 <u>Absence of Litigation</u>. There is no litigation, suit, claim, charge, grievance, action or proceeding (either formal or informal) or investigation by or before any Governmental Authority (an "***Action***") pending or, to the knowledge of the Company, threatened against the Company or any Company Subsidiary, or any property or asset of the Company or any Company Subsidiary except as, individually or in the aggregate, have not had and would not reasonably be expected to have a Company Material Adverse Effect. Except as, individually or in the aggregate, has not had and would not reasonably be expected to have a Company Material Adverse Effect, none of the Company, any Company Subsidiary or any property or asset of the Company or any Company Subsidiary is, subject to any continuing order of, consent decree, settlement agreement or other similar written agreement with any Governmental Authority, or any order, writ, judgment, injunction, decree, determination or award of any Governmental Authority.

Section 4.11 <u>Employee Benefit Plans</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Section 4.11(a)</u> of the Company Disclosure Schedule lists, as of the date of this Agreement, all material Plans; *provided*, that such list need not include (i) offer letters or employment agreements for at-will employment without an obligation to pay severance or similar benefits and that can be terminated by the Company or a Company Subsidiary with less than thirty (30) days' advance notice, and without liability or that use a form of agreement provided to SPAC, (ii) individual consulting agreements that may be terminated by the Company by providing fewer than 30 days' prior notice, or (iii) arrangements that are statutorily required, sponsored by a Governmental Authority or not otherwise maintained, sponsored or controlled by the Company. For purposes of this Agreement, "***Plans***" means employee benefit plans (as defined in Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended ("***ERISA***")), and all bonus, stock option, stock purchase, restricted stock, restricted stock unit, incentive, deferred compensation, retiree medical or life insurance, supplemental retirement, severance, gratuity, change in control, employment (except for offer letter agreements establishing employment terminable at-will without advance notice or penalty), severance, provident fund, pension, fringe benefit, sick pay and vacation plans or arrangements or other compensation and employee benefit plans, programs or arrangements, in each case which are maintained, contributed to or sponsored by the Company or a Company Subsidiary for the benefit of any current or former employee, officer, director and/or consultant, or under which the Company or a Company Subsidiary has or could incur any material liability (contingent or otherwise).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) None of the Company's or any of the Company Subsidiaries' employees, independent contractors or consultants are (i) located in the United States or (ii) subject to United States Tax. No Plan is maintained in the United States or is subject to the Laws of the United States or any Governmental Authority located within the United States.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) With respect to each Plan, the Company has made available to SPAC, if applicable (i) a true and complete copy of the current Plan and all amendments thereto and each trust or other funding arrangement, (ii) copies of the most recent summary plan description and any summaries of material modifications thereto, and (iii) any material non-routine correspondence from any Governmental Authority with respect to any Plan since January 1, 2020. Neither the Company nor any Company Subsidiary has any express commitment to modify, change or terminate any Plan, other than with respect to a modification, change or termination required by ERISA or the Code, or other applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) None of the Plans is or was within the past six (6) years, nor does the Company nor any of its ERISA Affiliates have any liability or obligation under (i) a multiemployer plan (within the meaning of Section 3(37) or 4001(a)(3) of ERISA), (ii) a single employer pension plan (within the meaning of Section 4001(a)(15) of ERISA) subject to Section 412 of the Code and/or Title IV of ERISA, (iii) a multiple employer plan subject to Section 413(c) of the Code. The Company does not have or reasonably expect to have any liability under a multiple employer welfare arrangement under ERISA. None of the Plans that is intended to be qualified under Section 401(a) of the Code has ever held employer securities or employer real property as a plan asset. For purposes of this Agreement, "***ERISA Affiliate***" shall mean any entity that together with another person would be deemed a "single employer" with such person for purposes of Section 4001(b)(1) of ERISA and/or Sections 414(b), (c) and/or (m) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Except as set forth in <u>Section 4.11(e)</u> of the Company Disclosure Schedule, neither the Company nor any Company Subsidiary is, or will be, obligated, whether under any Plan or otherwise, to pay separation, severance, termination, pay in lieu of notice or similar benefits to any person as a result of any Transactions, nor will the Transactions accelerate the time of payment or vesting, or increase the amount, of any benefit or other compensation due to any individual.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) None of the Plans provides, nor does the Company or any Company Subsidiary have any obligation to provide, retiree medical coverage to any current or former employee, officer, director or consultant of the Company or any Company Subsidiary after termination of employment or service except as may be required under applicable Laws. The Company does not have any obligation to gross-up or indemnify any individual for any Tax.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Each Plan that is intended to be qualified under Section 401(a) of the Code or Section 401(k) of the Code has (i) timely received a favorable determination letter from the IRS covering all of the provisions applicable to the Plan for which determination letters are currently available that the Plan is so qualified and each trust established in connection with such Plan is exempt from federal income taxation under Section 501(a) of the Code or (ii) with respect to a preapproved or "volume submitter" plan, is entitled to rely on a favorable opinion or advisory letter from the IRS with respect to the underlying preapproved plan, and to the knowledge of the Company, no fact or event has occurred since the date of such determination, opinion or advisory letter or letters from the IRS that would reasonably be expected to result in the revocation of the qualified status of any such Plan or the exempt status of any such trust by the IRS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) There has not been any non-exempt prohibited transaction (within the meaning of Section 406 of ERISA or Section 4975 of the Code) that is reasonably likely to result in material liability of the Company. There have been no acts or omissions by the Company or any of its ERISA Affiliates that have given or would reasonably be expected to give rise to any material fines, penalties, taxes or related charges on the Company or any Company Subsidiary under Sections 502 or 4071 of ERISA or Chapter 43 of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) All contributions, premiums or payments required to be made with respect to any Plan have been timely made to the extent due or properly accrued on the consolidated financial statements of the Company, except as would not result in material liability to the Company. Each Plan required to be funded by applicable Law or the terms of such Plan has been, is and will be materially funded as of the Closing, subject to and to the extent required by applicable Law or the relevant Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) None of the Company or any Company Subsidiary has made any payments, or is obligated to make any payments or is a party to any plan or Contract that would reasonably be expected to obligate it to make any payments that would not be deductible under Section 280G of the Code or result in the payment of an excise tax by any person under Section 4999 of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) With respect to each Plan that is subject to the Laws of a jurisdiction other than the United States (whether or not United States Law also applies) (a "***Foreign Plan"***), except as would not be reasonably likely to result in material liability to the Company and the Company Subsidiaries, taken as a whole: (i) all employer and employee contributions to each Foreign Plan required by applicable Laws or by the terms of such Foreign Plan have been timely made in all material respects, or, if applicable, accrued in accordance with normal accounting practices; (ii) each Foreign Plan required by applicable Laws to be registered as of the date hereof has been so registered and has been maintained in good standing in all material respects with applicable Laws; and (iii) no Foreign Plan is a defined benefit plan (as defined in ERISA, whether or not subject to ERISA) or has any material unfunded or underfunded liabilities.

Section 4.12 <u>Labor and Employment Matters</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company has maintained true, correct and complete records of all employees of the Company and each Company Subsidiary as of the date hereof that sets forth for each such individual his or her: (i) title or position (including whether full or part time); (ii) location and employing entity; (iii) hire date (and employment commencement date, if different to the hire date); (iv) exemption treatment by the Company under applicable wage and hour Laws; (v) current annual base salary (or, for hourly employees, the applicable hourly compensation rate); (vi) bonus or other incentive based compensation (including profit sharing or equity entitlements (e.g., shares, share options, or rights related to shares)); (vii) accrued paid time off (including annual leave, long service leave and personal leave entitlements); (viii) details of any applicable industrial instrument coverage; (ix) details of any employees who are currently receiving or are due to receive workers' compensation payments; (x) full details of all employees' termination entitlements, including notice, severance/redundancy entitlements and any other benefits payable or which vest upon termination; and (xi) to the extent applicable, details of employment with the Company or a Company Subsidiary as a result of the transmission of business from a previous employer to the Company or a Company Subsidiary. The Company has also provided SPAC with a true, correct and complete list of all individuals providing services to the Company or a Company Subsidiary (either directly or through an entity that they own or control) in the capacity of an independent contractor or consultant. The individuals referenced in the previous two sentences represent the entirety of the individuals necessary to manage and operate the business of the Company and the Company Subsidiaries as currently managed and operated in all material respects, and the Company has further provided SPAC with true, correct and complete details of all incentive schemes (whether set out earlier at <u>Section 4.12(a)(vi)</u> or otherwise) which are applicable to these individuals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Neither the Company nor any Company Subsidiary: (i) employs, or has ever employed, any employees in the United States; or (ii) engages, or has ever engaged, any individuals as independent contractors or consultants to provide services to the Company or any Company Subsidiary in the United States.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) As of the date of this Agreement, all compensation, including wages and salaries, commissions, fees and bonuses and any termination indemnities, required to be paid to or accrued with respect to current and former employees, independent contractors and consultants, and directors and officers of the Company and any Company Subsidiary, have been paid or accrued as required by applicable law in all material respects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Company has provided SPAC with true and complete copies of: (i) all employment contracts or other terms of service applicable to executive, managerial, or other key employees, of the Company or a Company Subsidiary; and (ii) all standard forms of employment contracts used by the Company and the Company Subsidiaries. To the knowledge of the Company, each employee is (i) employed exclusively by the Company or a Company Subsidiary, and (ii) not under any confidentiality or other post-employment restraint to a previous employer which would restrict that employee from fully performing their obligations to the Company or a company Subsidiary, or which would cause the Company or a Company Subsidiary to infringe the rights of that previous employer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Other than as set forth on <u>Section 4.12(e)</u> of the Company Disclosure Schedule, no employee is entitled to any retention payment, bonus or other payment or the vesting of any other benefit which is triggered by the execution or completion of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The Company and each Subsidiary Company have materially complied with all labor and employment Laws in relation to any person currently or formerly engaged as an independent contractor, including laws relating to Tax, superannuation and workers compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) There are no, and since January 1, 2020, have been no, material Actions pending or, to the knowledge of the Company, threatened against the Company or any Company Subsidiary by any of its current or former employees, contractors, consultants or any other individuals who have provided services to the Company or any Company Subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) (i) The Company and the Company Subsidiaries are not, nor have they been a party to, bound by, or negotiating any collective bargaining agreement, collective agreement, or other Contract or industrial agreement with a labor union, works council, trade union, labor organization, or other employee representative applicable to persons employed by the Company or any Company Subsidiary, nor, to the knowledge of the Company, are there any activities or proceedings of any labor union to organize any such employees; (ii) there are no material unfair labor practice complaints pending against the Company or any Company Subsidiary before any Governmental Authority, including any labor relations agency; and (iii) since January 1, 2020, neither the Company nor any Company Subsidiary has been affected by or, received any threat of, any strike, work stoppage, lockout, picketing, concerted refusal to work overtime or other similar labor disruption or industrial dispute with respect to the Company or a Company Subsidiary, and to the knowledge of the Company, there are no matters which would give rise to any such dispute.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) There are no industrial awards and agreements (including unregistered agreements) which apply to employees of the Company or any Company Subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Except as would not reasonably be expected to be material to the Company and Company Subsidiaries as a whole, the Company and each Company Subsidiary is and has been, since January 1, 2020, in compliance with all applicable Laws and Contracts relating to labor, and employment, including all such Laws and Contracts relating to employment practices, industrial instruments and awards, immigration, employment discrimination, harassment and retaliation, terms and conditions of employment, including individual contracts of employment with their employees, mass layoffs and plant closings including the Worker Adjustment and Retraining Notification Act of 1988, as amended (the "***WARN Act***"), or any similar state or local Laws including in respect of redundancy, immigration, recordkeeping, meal and rest breaks, pay equity, affirmative action obligations, workers' compensation, family and medical leave, sick leave, all other employee leaves (including the accrual of annual leave, personal leave and long service leave in accordance with the *Fair Work Act 2009* (Cth), any applicable industrial instruments (including but not limited to modern awards, individual flexibility agreements and enterprise agreements) and otherwise as required by law), employee notices, working time, redundancy pay, pre-termination notices, data privacy, occupational safety and health requirements (including any federal, state, local or foreign Laws and orders by Governmental Authorities related to COVID-19), and all Laws related to wages, hours, collective bargaining and the payment and withholding of taxes and other sums and social contributions as required by the appropriate Governmental Authority. Except as would not result in material liability for the Company, (i) all current and former employees of the Company and each Company Subsidiary are and have been properly classified as exempt or non-exempt under the Fair Labor Standards Act and applicable state and foreign wage and hour Laws; and (ii) all current and former independent contractors, consultants and temporary workers of the Company and each Company Subsidiary are and have been properly classified under applicable Law. Since January 1, 2020, there have been no misclassification claims filed or, to the knowledge of the Company, threatened against the Company or any Company Subsidiary by any current or former employees, independent contractors or temporary workers or by any Governmental Authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) There are no, and since January 1, 2020, have been no, material investigations, notices, prosecutions or fines pending or, to the knowledge of the Company, threatened with respect to or against the Company or any Company Subsidiary: (i) relating to compliance with labor laws (including any industrial instruments); or (ii) under workplace health and safety laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) As of the date of this Agreement no executive, managerial, or other key employee, nor group of employees, of the Company or a Company Subsidiary has provided or been given notice of an intent not to continue his or her employment with the Company or a Company Subsidiary. There has been and will be no layoff, plant closing, termination, redundancy or any other forms of employment losses in the six-month period prior to Closing that would trigger the obligations of the Company under the WARN Act or similar state, local or foreign Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) Each employee is a member of a superannuation fund and neither the Company nor any Company Subsidiary contributes (in respect of the employees) to any other superannuation fund, scheme or other arrangement providing superannuation, retirement, death, disability or similar benefits. Except for any superannuation obligations under the *Superannuation Guarantee (Administration) Act 1992* (Cth) ("***SGA Act*"**), neither the Company nor any Company Subsidiary is under any present legal liability or voluntary commitment (whether or not legally binding) to pay any of its employees any pension, superannuation, retirement or similar benefit. The obligations of the Company and each Company Subsidiary in respect of such superannuation funds satisfy the terms of all agreements, arrangements, understandings and awards relating to the employment of their employees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) Neither the Company nor any Company Subsidiary contributes, or is required to contribute, in respect of its employees to a superannuation fund which provides a defined benefit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) Other than as provided for in the Financial Statements, neither the Company nor any Company Subsidiary has any liability to pay any amount by way of superannuation guarantee charge pursuant to the SGA Act, or any other amount by reason of the application of the SGA Act, in respect of any of the employees or any other 'employee' (as defined in the SGA Act) of the Company or any Company Subsidiary for any 'quarter' (as defined in the SGA Act) up to the date of Closing. The Company and each Company Subsidiary have complied, or will comply with, and has discharged all of, their obligations in respect of the employees under Part 3A of the SGA Act up to Closing.

Section 4.13 <u>Real Property; Title to Assets</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company and the Company Subsidiaries do not hold any Owned Real Property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) True, correct and complete copies of all leases, subleases and licenses pursuant to which the Company or any Company Subsidiary leases, subleases or licenses any real property (each, a "***Lease***"), together with each amendment thereto, have been made available to SPAC. Except as otherwise set forth in <u>Section 4.13(b)</u> of the Company Disclosure Schedule, (i) there are no Leases, concessions or other Contracts, and the Company or Company Subsidiaries are not a party to any Lease, concession or other Contract, granting to the Company or Company Subsidiaries, the right to use or occupy any real property, and (ii) all such Leases are in full force and effect, are valid and enforceable in accordance with their respective terms, subject to the Remedies Exceptions, and there is not, under any of such Leases, any existing default or event of default (or event which, with notice or lapse of time, or both, would constitute a default) by the Company or any Company Subsidiary or, to the Company's knowledge, by the other party(ies) to such Leases, except as, individually or in the aggregate, has not had and would not reasonably be expected to have a Company Material Adverse Effect. Neither the Company nor any Company Subsidiary has leased, subleased, sublicensed or otherwise granted to any person any right to use, occupy or possess any portion of the Leased Real Property or any portion of the Owned Real Property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) There are no contractual or legal restrictions that preclude or restrict the ability of the Company or any Company Subsidiary to use any Owned Real Property or Leased Real Property by such party for the purposes for which it is currently being used, except as, individually or in the aggregate, has not had and would not reasonably be expected to have a Company Material Adverse Effect. There are no latent defects or adverse physical conditions affecting the Owned Real Property or Leased Real Property, and improvements thereon, other than those that would not have a Company Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Company and each Company Subsidiary has legal and valid title to, or, in the case of Leased Real Property and assets, valid contractual, leasehold or subleasehold interests in, all of its respective properties and assets, tangible and intangible, real, personal and mixed, used or held for use in its business, free and clear of all Liens other than Permitted Liens, except as, individually or in the aggregate, has not had and would not reasonably be expected to have a Company Material Adverse Effect.

Section 4.14 <u>Intellectual Property</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Section 4.14(a)</u> of the Company Disclosure Schedule contains a true, correct and complete list of all of the following: (i) Registered Company IP (showing in each, as applicable, the title, the country, the filing date, date of issuance, expiration date, registration number and application number, and registrar); and (ii) Company Software owned by the Company that is material to the Company Business. To the Company's knowledge, the Company IP constitutes all Intellectual Property rights necessary for the conduct of the Company Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except as, individually or in the aggregate, has not had and would not reasonably be expected to have a Company Material Adverse Effect, (i) the Company or one of the Company Subsidiaries solely and exclusively owns, free and clear of all Liens (other than Permitted Liens), all right, title and interest in and to all Company-Owned IP; (ii) the Company has the right to use, pursuant to a valid and enforceable (subject to the Remedies Exceptions) written license, all Company-Licensed IP; and (iii) the consummation of the Transactions will not result in the loss or impairment of the Company's ownership of any Company-Owned IP or use of material Company IP. All Registered Company IP material to the Company Business is subsisting and, to the Company's knowledge, valid and enforceable. Except as, individually or in the aggregate, has not had and would not reasonably be expected to have a Company Material Adverse Effect, no loss or expiration of any of the Company-Owned IP, or to the Company's knowledge, any of the Company-Licensed IP, is threatened, or pending, in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Company and each of its applicable Company Subsidiaries have taken and take commercially reasonable actions to maintain the secrecy, confidentiality and value of its trade secrets and other Confidential Information. To the knowledge of the Company, neither the Company nor any Company Subsidiaries has disclosed any trade secrets or other Confidential Information that is material to the Company Business to any other person other than pursuant to a written confidentiality agreement under which such other person agrees to maintain the confidentiality of such information or where such person is subject to ethical obligations to maintain such confidentiality.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) (i) Since January 1, 2020, there have been no Actions filed and served, or threatened in writing (including email), against the Company or any Company Subsidiary in any forum, by any person (A) contesting the validity, use, ownership, enforceability, patentability or registrability of any of the material Company-Owned IP, or (B) alleging any infringement, violation or misappropriation of any Intellectual Property rights of other persons (including any written demands or unsolicited offers to license any Intellectual Property rights from any other person); (ii) since January 1, 2020, except as would not reasonably be expected to be material to the Company and Company Subsidiaries as a whole, the operation of the Company Business (including the use, development, manufacture, marketing, license, sale, distribution or furnishing by the Company of any Products) has not and does not infringe, misappropriate or violate, any Intellectual Property rights of other persons; (iii) since January 1, 2020, to the Company's knowledge, no other person, including any employee or former employee of the Company, has infringed, misappropriated or violated any of the Company-Owned IP; and (iv) none of the material Company-Owned IP or Products is subject to any proceeding, or outstanding order, agreement, settlement or stipulation restricting in any manner the use, enforcement, development, manufacture, marketing, licensing, sale, distribution, furnishing or disposition by the Company of any such Company-Owned IP, or any Product.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Except as, individually or in the aggregate, has not had and would not reasonably be expected to have a Company Material Adverse Effect, all persons who have contributed, developed or conceived (each, a "***Contributor***") any material Intellectual Property for or on behalf of the Company (in each case a "***Contribution***") have executed valid, written agreements with the Company or one of the Company Subsidiaries pursuant to which such persons have assigned to the Company or the applicable Company Subsidiary all of their entire right, title, and interest in and to any Contribution or all such right, title, and interest has vested in the Company or a Company Subsidiary by operation of Law. Except as, individually or in the aggregate, has not had and would not reasonably be expected to have a Company Material Adverse Effect, no current or former employee, consultant or independent contractor of the Company or any Company Subsidiary: (i) to the Company's knowledge, is in violation of any term or covenant of any agreement with any other person by virtue of such employee, consultant or independent contractor being employed by, or performing services for, the Company or any Company Subsidiary, or is using trade secrets or proprietary information of others without permission; (ii) has any right, license, claim or interest whatsoever in or with respect to any Company-Owned IP, or (iii) to the Company's knowledge, has developed any Company-Owned IP for the Company or any Company Subsidiary that is subject to any agreement under which such employee, consultant or independent contractor has assigned or otherwise granted to any third party any rights in or to such Company-Owned IP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Except as would not reasonably be expected to be material to the Company and Company Subsidiaries as a whole, (i) all use and distribution of Open Source Materials by or through the Company or any Company Subsidiary is in compliance with all Open Source Licenses applicable thereto, including all copyright notice and attribution requirements; and (ii) the Company has not incorporated any Software into any Company Software or otherwise used any Software, in each case, in a manner that requires the applicable Company Software to be subject to Copyleft Licenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Except as would not, individually or in the aggregate, reasonably be expected to be material to the Company and the Company Subsidiaries, taken as a whole, the Company or one of the Company Subsidiaries owns, leases, licenses, or otherwise has the legal right to use all Business Systems, and such Business Systems are sufficient for the current needs of the Company Business. Since January 1, 2020, there has not been any material failure or other substandard performance with respect to any of the Business Systems that has not been substantially remedied. The Company has taken commercially reasonable steps to provide for the back-up and recovery of data and information, has commercially reasonable disaster recovery plans, procedures, control and facilities, and, as applicable, has taken commercially reasonable steps to implement such plans and procedures. The Company has taken commercially reasonable actions to protect the integrity and security of the Business Systems and the Business Data stored thereon from unauthorized use, access, or modification by third parties, and to the Company's knowledge, in the past three (3) years no such third party has obtained unauthorized access to such Business Systems or Business Data.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Other than as set forth in <u>Section 4.14(h)</u> of the Company Disclosure Schedule, no funding and no personnel, facilities or other resources of any Governmental Authority, university, college, other similar institution, or research center were used in the development of any Company-Owned IP, nor does any such person (other than as a customer) have any rights, title or interest in or to any Company-Owned IP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Neither the Company or any Company Subsidiary is, nor has it ever been, a member or promoter of, or contributor to, any industry standards body or similar standard setting organization that could require or obligate the Company or any Company Subsidiary to grant or offer to any other person any license or right to any Company-Owned IP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) No person or entity other than the Company, a Company Subsidiary, or a Contributor, has or has had possession of any source code for any Company Software and the consummation of the Transactions will not result in the release of any source code for any Company Software.

Section 4.15 <u>Taxes</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company and each Company Subsidiary: (i) has duly and timely filed (taking into account any extension of time within which to file) all material Tax Returns required to be filed by any of them and all such filed Tax Returns are complete and accurate in all material respects; (ii) have timely paid all material Taxes, whether or not shown as due on such filed Tax Returns, except with respect to Taxes that are being contested in good faith and are disclosed in <u>Section 4.15(a)</u> of the Company Disclosure Schedule; (iii) has not waived any statute of limitations with respect to material Taxes or agreed to any extension of time with respect to a material Tax assessment or deficiency (other than any extensions of time to file Tax Returns obtained in the ordinary course), which waiver or extension remains in effect; and (iv) does not have any Tax deficiency, assessment, claim, audit, examination, investigation, litigation or other proceeding by or before a Governmental Authority (a "***Tax Claim***") in respect of material Taxes, or material Tax matters, pending or proposed or threatened in writing, except for any material Tax Claim being contested in good faith that is disclosed in <u>Section 4.15(a)</u> of the Company Disclosure Schedule.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Neither the Company nor any Company Subsidiary is a party to, is bound by or has an obligation under any Tax sharing agreement, Tax indemnification agreement, Tax allocation agreement or similar Contract (other than (i) customary commercial Contracts entered into in the ordinary course of business the primary purpose of which does not relate to Taxes or (ii) Contracts among only the Company and the Company Subsidiaries).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Neither the Company nor any Company Subsidiary will be required to include any material item of income in, or exclude any material item of deduction from, taxable income for any taxable period (or portion thereof) ending after the Closing Date as a result of any: (i) change in method of accounting for a taxable period (or portion thereof) ending on or prior to the Closing Date, made or required to be made prior to the Closing, resulting in an adjustment under Section 481(c) of the Code (or any corresponding or similar provision of U.S. state or local or non-U.S. Tax Law); (ii) written agreement with any Taxing Authority relating to a material Tax liability of the Company or any Company Subsidiary executed prior to the Closing; (iii) installment sale or open transaction disposition made prior to the Closing; or (iv) prepaid amount received prior to the Closing outside the ordinary course of business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Each of the Company and each Company Subsidiary is a tax resident of its country of incorporation and is not, and has never been, a tax resident of any other jurisdiction. Neither the Company nor any Company Subsidiary carries on business through a permanent establishment in any country other than its country of incorporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Neither the Company nor any Company Subsidiary has received written notice of any claim from a Taxing Authority in a jurisdiction in which the Company or any Company Subsidiary does not file Tax Returns stating that such person is or may be subject to material Taxes in such jurisdiction that has not been resolved.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) In all material respects, the Company and each Company Subsidiary has withheld and paid to the appropriate Taxing Authority all Taxes required to have been withheld and paid in connection with amounts paid or owing to any current or former employee, independent contractor, creditor, shareholder or other third party and has complied with applicable information reporting requirements related thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Neither the Company nor any Company Subsidiary has been a member of an affiliated group filing a consolidated, combined or unitary U.S. federal, state or local or non-U.S. Tax Return (other than a group of which the Company was or is the common parent or of which the Company or the Company Subsidiaries were or are the only members).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Neither the Company nor any Company Subsidiary has any material liability for the Taxes of any person (other than the Company or any Company Subsidiary) pursuant to Treasury Regulations Section 1.1502-6 (or any similar provision of U.S. state or local or non-U.S. Tax Law), as a transferee or successor, or by Contract (other than, in each case, liabilities for Taxes pursuant to customary commercial Contracts entered into in the ordinary course of business the primary purpose of which does not relate to Taxes).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Neither the Company nor any Company Subsidiary (i) has any request for a ruling in respect of Taxes pending between the Company or any Company Subsidiary, on the one hand, and any Taxing Authority, on the other hand; or (ii) has entered into any private letter ruling, technical advice memoranda or similar agreements with any Taxing Authority that would reasonably be expected to be material to the Company and the Company Subsidiaries, taken as a whole.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) In the past two (2) years, neither the Company nor any Company Subsidiary distributed stock of another person, or had its stock distributed by another person, in a transaction that was purported or intended to be governed in whole or in part by Section 355 of the Code (or any corresponding or similar provision of U.S. state or local or non-U.S. Tax Law).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Neither the Company nor any Company Subsidiary has engaged in or entered into a "listed transaction" within the meaning of Treasury Regulations Section 1.6011-4(b)(2).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) The Company and each Company Subsidiary has maintained proper records of franking credits and debits for the purposes of Australian Tax Laws in all material respects. Neither the Company nor any Company Subsidiary has a material amount of franking deficit or any material unpaid liability for franking deficit tax for the purposes of Australian Tax Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) No debt or liability of the Company or any Company Subsidiary has been forgiven, nor has any arrangement for such a forgiveness been entered into in relation to any such debts or other liabilities, in the past three (3) years in a way that has or will give rise to a material Tax liability or that has materially affected or will materially affect any Tax attribute held by the Company or any Company Subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) The share capital account of the Company and any Company Subsidiary is not tainted within the meaning of Australian Tax Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) There are no material Tax Liens upon any assets of the Company or any Company Subsidiary except for Permitted Liens.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) Neither the Company nor any Company Subsidiary has received written notice from a Taxing Authority asserting that it is subject to Tax in any country other than its country of incorporation, organization or formation by virtue of having employees, a permanent establishment, other place of business or similar presence in that country, which assertion has not been resolved.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) Neither the Company nor any Company Subsidiary has filed (or caused or permitted to be filed) an IRS Form 8832 or any comparable Tax Return for applicable U.S. state income tax purpose.

Section 4.16 <u>Environmental Matters</u>. Except as, individually or in the aggregate, has not had and would not reasonably be expected to have a Company Material Adverse Effect, (a) since January 1, 2010, neither the Company nor any Company Subsidiary has violated, nor is the Company or any Company Subsidiary in violation of, applicable Environmental Law; (b) there has been no release to the environment of any Hazardous Substances by the Company or any Company Subsidiary that would reasonably be expected to result in losses, damages or liabilities to the Company or any Company Subsidiary and, to the knowledge of the Company, none of the properties currently or formerly owned, leased or operated by the Company or any Company Subsidiary (including soils and surface and ground waters) are contaminated with any Hazardous Substance which would reasonably be expected to require remediation; (c) neither the Company nor any Company Subsidiary is, actually, potentially or allegedly liable pursuant to applicable Environmental Laws for any off-site contamination by Hazardous Substances; (d) the Company and the Company Subsidiaries have all permits, licenses and other authorizations required of the Company and the Company Subsidiaries under applicable Environmental Law ("***Environmental Permits***"); (e) neither the Company nor any Company Subsidiary is the subject of any pending, or to the Company's knowledge, threatened claims, actions or suits relating to Hazardous Substances or arising under Environmental Laws; and (f) the Company and each Company Subsidiary is in compliance with its Environmental Permits.

Section 4.17 <u>Material Contracts</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Section 4.17(a)</u> of the Company Disclosure Schedule lists, as of the date of this Agreement, the following types of Contracts to which the Company or any Company Subsidiary is a party (such Contracts as are required to be set forth in <u>Section 4.17(a)</u> of the Company Disclosure Schedule being the "***Material Contracts***"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) each Contract with consideration paid or payable to the Company or any Company Subsidiary of more than $150,000 over any 12-month period following January 1, 2020;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) each Contract with Suppliers to the Company or any Company Subsidiary for expenditures paid or payable by the Company or any Company Subsidiary of more than $150,000 over any 12-month period following January 1, 2020;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) all broker, distributor, dealer, manufacturer's representative, franchise, agency, sales promotion, market research, marketing consulting and advertising Contracts to which the Company or any Company Subsidiary is a party that require payments of $150,000 or more, in any 12-month period following January 1, 2020, by, or to, the Company or any Company Subsidiary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) all management and employment Contracts (excluding at-will Contracts for employment that do not contain any severance, notice or change of control provisions) and all Contracts with natural person consultants and independent contractors providing for payments in excess of $150,000 in any future 12-month period and that cannot be terminated with less than 30 days' prior notice and without any payment owed due to such termination, in either case to which the Company or any Company Subsidiary is a party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) all bonus and commission plans of the Company or any Company Subsidiary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) all Contracts evidencing indebtedness for borrowed money in an amount greater than $50,000, and any pledge agreements, security agreements or other collateral agreements in which the Company or any Company Subsidiary granted to any person a security interest in or lien on any of the property or assets of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) all partnership Contracts, joint venture or other similar Contracts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) all Contracts with or directly or indirectly funded by any Governmental Authority, or under which the Company's goods, services or technology will be directly or indirectly provided to a Governmental Authority, to which the Company or any Company Subsidiary is a party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) all Contracts that materially limit, or purport to limit, the ability of the Company to compete in any line of business or with any person or entity or in any geographic area or during any period of time, excluding customary confidentiality agreements and agreements that contain customary confidentiality clauses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) all Contracts that result in any person or entity holding a power of attorney from the Company or any Company Subsidiary that relates to the Company, any Company Subsidiary or their respective businesses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi) all Contracts relating to the purchase of engineering or design services that involve more than $150,000 over any 12-month period following January 1, 2020, other than those Contracts under which no further services are due;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii) all leases or master leases of personal property reasonably likely to result in annual payments of $150,000 or more in any 12-month period following January 1, 2020;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii) all Contracts involving use of any material Company-Licensed IP (other than Standard Inbound Licenses);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv) all Contracts under which the Company or any Company Subsidiary has agreed to purchase goods or services from a vendor, Supplier or other person on a preferred supplier or "most favored supplier" basis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv) Contracts which involve the license or grant of rights to Company-Owned IP by the Company or any Company Subsidiary to any person (other than Standard Outbound Licenses);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvi) all Contracts for the development of Company-Owned IP for the benefit of the Company that is material to the Company Business (other than employee invention assignment and confidentiality agreements and consulting agreements entered into on the Company's standard forms of such agreements made available to SPAC);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvii) all Contracts entered into after January 1, 2020, that relate to the direct or indirect acquisition or disposition of any securities or business (whether by merger, sale of stock, sale of assets or otherwise);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xviii) all Contracts with any affiliate of the Company or otherwise relating to a Company Interested Party Transaction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xix) all Contracts involving any resolution or settlement of any actual or threatened Action or other dispute which require future payment in excess of $150,000 or impose material continuing obligations on the Company or any Company Subsidiary, including injunctive or other non-monetary relief; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xx) all agreements or instruments guarantying the debts or other obligations of any person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) (i) Except for expirations and non-renewals in the ordinary course of business and in accordance with the terms of such Material Contract, each Material Contract is a legal, valid and binding obligation of the Company or the Company Subsidiaries and, to the knowledge of the Company, the other parties thereto, (ii) except as, individually or in the aggregate, has not had and would not reasonably be expected to have a Company Material Adverse Effect, neither the Company nor any Company Subsidiary is in breach or violation of, or default under, any Material Contract nor has any Material Contract been canceled by any other party thereto; (iii) to the Company's knowledge, no other party is in material breach or material violation of, or material default under, any Material Contract; and (iv) since January 1, 2020, neither the Company nor any Company Subsidiary has received any written, or to the knowledge of the Company, oral claim of default under any such Material Contract. The Company has furnished or made available to SPAC true and complete copies of all Material Contracts, including amendments thereto.

Section 4.18 <u>International Trade Laws</u>. The Company and each Company Subsidiary is, and has in the past five (5) years been, in compliance in all respects with all International Trade Laws applicable to it. Without limiting the foregoing: (i) the Company and each Company Subsidiary have obtained all export and import licenses and other approvals required for their respective past imports and exports of products, software and technologies required by any International Trade Law, and all such approvals and licenses are in full force and effect; (ii) the Company and each Company Subsidiary are in compliance with the terms of such applicable export and import licenses or other approvals; and (iii) there are no claims pending or, to the knowledge of the Company, threatened against the Company or any Company Subsidiary with respect to the International Trade Laws or such export and import licenses or other approvals.

Section 4.19 <u>Insurance</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each material insurance policy under which the Company or any Company Subsidiary is an insured are with reputable insurance carriers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) With respect to each such insurance policy: (i) the policy is legal, valid, binding and enforceable (subject to the Remedies Exceptions) in accordance with its terms and, except for policies that have expired under their terms in the ordinary course, is in full force and effect and all material premiums due have been paid; (ii) neither the Company nor any Company Subsidiary is in material breach or default (including any such breach or default with respect to the payment of premiums or the giving of notice), and to the knowledge of the Company, no event has occurred which, with notice or the lapse of time, would constitute such a material breach or default, or permit termination or modification, under the policy; and (iii) to the knowledge of the Company, no insurer on the policy has been declared insolvent or placed in receivership, conservatorship or liquidation.

Section 4.20 <u>Board Approval; Vote Required</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company Board, by resolutions duly adopted by unanimous vote of those voting at a meeting duly called and held and not subsequently rescinded or modified in any way, or by unanimous written consent, has duly approved this Agreement and the Transactions. No additional approval or vote of the holders of any class or series of capital stock of the Company is necessary to adopt this Agreement and approve the Transactions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Merger Sub Board, by resolutions duly adopted by unanimous vote of those voting at a meeting duly called and held and not subsequently rescinded or modified in any way, has duly (i) determined that this Agreement and the Transactions are fair to, and in the best interests of, Merger Sub and its sole stockholder and (ii) approved and adopted this Agreement and declared its advisability and approved the Merger and the Transactions. The only vote of the holders of any class or series of capital stock of Merger Sub necessary to approve this Agreement, the Merger and the other Transactions is the affirmative vote of the holders of a majority of the outstanding shares of Merger Sub Common Stock.

Section 4.21 <u>Certain Business Practices</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Within the past five (5) years, none of the Company, any Company Subsidiary, nor any of their respective directors, officers or employees or, to the Company's knowledge (as defined in the FCPA), any agents or third party representatives of the Company or any Company Subsidiary has: (i) used any funds for unlawful contributions, gifts, entertainment or other unlawful expenses related to political activity; (ii) made, offered, authorized, or promised to make, nor requested, solicited, or agreed to accept any payment, gift, promise or other advantage (including any fee, travel expense, entertainment, service, loan, rebate, kickback, donation, grant, facilitation payment, or other payment or benefit in cash or in kind), directly or indirectly, to or from a Government Official or any other person in violation of any applicable Anti-Corruption Law; or (iii) taken any other action in violation of applicable anti-bribery or Anti-Corruption Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Within the past five (5) years, none of the Company, any Company Subsidiary, any of their respective directors, officers or employees or, to the Company's knowledge, agents (i) is or has been a Sanctioned Person; or (ii) has transacted business on behalf of the Company with or for the benefit of any Sanctioned Person or in or involving any Sanctioned Country, or has otherwise violated applicable Sanctions Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) There are no, and within the past five (5) years, there have not been any internal or, to the knowledge of the Company, external investigations, audits, actions or proceedings pending, or any voluntary or involuntary disclosures made to a Governmental Authority with respect to any apparent or suspected violation by the Company, any Company Subsidiary, or any of their respective officers, directors, employees, or agents of any Anti-Corruption Laws or Sanctions Laws.

Section 4.22 <u>Interested Party Transactions</u>. Except as set forth on <u>Section 4.22</u> of the Company Disclosure Schedule, the employment relationships and the payment of compensation, benefits and expense reimbursements and advances in the ordinary course of business, no director, officer, 10% or greater equityholder or other affiliate of the Company or any Company Subsidiary has, directly or indirectly: (a) to the knowledge of the Company, an economic interest in any person that furnishes or sells services or Products that the Company or any Company Subsidiary furnishes or sells, or proposes to furnish or sell; (b) to the knowledge of the Company, an economic interest in any person that purchases from or sells or furnishes to, the Company or any Company Subsidiary, any goods or services; (c) to the knowledge of the Company, a beneficial interest in any Contract disclosed in <u>Section 4.17(a)</u> of the Company Disclosure Schedule; or (d) any contractual or other arrangement with the Company or any Company Subsidiary (including any "preferred pricing" or similar benefit enjoyed by the Company or any Company Subsidiary as a result of any such affiliation), other than customary indemnity arrangements (each, a "***Company Interested Party Transaction***"); *provided*, *however*, that ownership of no more than five percent (5%) of the outstanding voting stock of a publicly traded corporation shall not be deemed an "economic interest in any person" for purposes of this <u>Section 4.22</u>. Neither the Company nor any Company Subsidiary has, since January 1, 2020, (i) extended or maintained credit, arranged for the extension of credit or renewed an extension of credit in the form of a personal loan to or for any director or executive officer (or equivalent thereof) of the Company or any Company Subsidiary, or (ii) materially modified any term of any such extension or maintenance of credit. There are no Contracts between the Company or any Company Subsidiary and any family member of any director, officer, 10% or greater equityholder or other affiliate of the Company or any Company Subsidiary.

Section 4.23 <u>Exchange Act; Investment Company Act</u>. The Company is not currently (nor has it previously been) subject to the requirements of Section 12 of the Securities Exchange Act of 1934, as amended (the "***Exchange Act***"). The Company is not an "investment company" or a person directly or indirectly "controlled" by or acting on behalf of an "investment company", in each case within the meaning of the Investment Company Act.

Section 4.24 <u>Brokers</u>. Except as set forth on <u>Section 4.24</u> of the Company Disclosure Schedule, no broker, finder or investment banker is entitled to any brokerage, finder's or other fee or commission in connection with the Transactions based upon arrangements made by or on behalf of the Company or any Company Subsidiary. The Company has provided SPAC with a true and complete copy of all Contracts, including its engagement letter, between the Company and the persons identified on <u>Section 4.24</u> of the Company Disclosure Schedule, other than those that have expired or terminated and as to which no further services are contemplated thereunder to be provided in the future.

Section 4.25 <u>Solvency</u>. Neither the Company nor any Company Subsidiary is the subject of an Insolvency Event.

Section 4.26 <u>Merger Sub</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except as set forth in the Merger Sub Organizational Documents, there is no agreement, commitment, or order from a Governmental Authority binding upon Merger Sub or to which Merger Sub is a party which has had or would reasonably be expected to have the effect of prohibiting or impairing any business practice of Merger Sub or any acquisition of property by Merger Sub or the conduct of business by Merger Sub as currently conducted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Merger Sub does not own or have a right to acquire, directly or indirectly, any interest or investment (whether equity or debt) in any corporation, partnership, joint venture, business, trust or other entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Merger Sub was formed on February 2, 2023 solely for the purpose of engaging in the Transactions. Since its formation, Merger Sub has not engaged in any activity, other than such actions in connection with (i) its organization and (ii) the preparation, negotiation and execution of this Agreement and the Transactions contemplated hereby. Merger Sub has not conducted any operations, has not generated any revenues and does not have any liabilities other than those incurred in connection with the foregoing and in association with the Transactions.

Section 4.27 <u>Exclusivity of Representations and Warranties</u>. Except as otherwise expressly provided in this <u>Article IV</u> (as modified by the Company Disclosure Schedule), the Company hereby expressly disclaims and negates, any other express or implied representation or warranty whatsoever (whether at Law or in equity) with respect to the Company, its affiliates, and any matter relating to any of them, including their affairs, the condition, value or quality of the assets, liabilities, financial condition or results of operations, or with respect to the accuracy or completeness of any other information made available to SPAC, its affiliates or any of their respective Representatives by, or on behalf of, the Company, and any such representations or warranties are expressly disclaimed. Without limiting the generality of the foregoing, except as expressly set forth in this Agreement or any certificate delivered by the Company pursuant to this Agreement, neither the Company nor any other person on behalf of the Company has made or makes, any representation or warranty, whether express or implied, with respect to any projections, forecasts, estimates or budgets made available to SPAC, its affiliates or any of their respective Representatives of future revenues, future results of operations (or any component thereof), future cash flows or future financial condition (or any component thereof) of the Company (including the reasonableness of the assumptions underlying any of the foregoing), whether or not included in any management presentation or in any other information made available to SPAC, its affiliates or any of their respective Representatives or any other person, and that any such representations or warranties are expressly disclaimed.

**Article V** **<br> REPRESENTATIONS AND WARRANTIES OF SPAC and SPONSOR**

Except as set forth in SPAC's disclosure schedule delivered by SPAC in connection with this Agreement (the "***SPAC Disclosure Schedule***") (*provided*, that any matter required to be disclosed shall only be disclosed by specific disclosure in the corresponding section of the SPAC Disclosure Schedule, except to the extent that such information is cross-referenced to another part of the SPAC Disclosure Schedule or it is reasonably apparent on the face of such disclosure that such information would qualify another provision in the Agreement), or in the SPAC SEC Reports filed prior to the date of the Agreement (to the extent the qualifying nature of such disclosure is readily apparent from the content of such SPAC SEC Reports, but excluding disclosures referred to in "Forward-Looking Statements," "Risk Factors" and any other disclosures therein to the extent they are of a predictive or cautionary nature or related to forward-looking statements) (it being acknowledged that nothing disclosed in such a SEC Report will be deemed to modify or qualify the representations and warranties set forth in <u>Section 5.1</u> (Corporate Organization), <u>Section 5.3</u> (Capitalization), <u>Section 5.4</u> (Authority Relative to This Agreement), <u>Section 5.13</u> (SPAC Trust Fund) and <u>Section 5.15</u> (Taxes)), SPAC hereby represents and warrants, and, solely with respect to <u>Section 5.20</u>, the Sponsor hereby represents and warrants, to each of the Company and Merger Sub as follows:

Section 5.1 <u>Corporate Organization</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) SPAC is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation and has the requisite corporate power and authority to own, lease and operate its properties and to carry on its business as it is now being conducted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) SPAC does not directly or indirectly own any Equity Securities in any corporation, partnership, joint venture or business association or other person.

Section 5.2 <u>Certificate of Incorporation and Bylaws</u>. SPAC has heretofore furnished to the Company true, complete and correct copies of the SPAC Organizational Documents. The SPAC Organizational Documents are in full force and effect. SPAC is not in violation of any of the provisions of the SPAC Organizational Documents in any material respects.

Section 5.3 <u>Capitalization</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The authorized capital stock of SPAC, each with a par value $0.0001 per share, consists of (i) 500,000,000 shares of Class A Common Stock, (ii) 50,000,000 shares of Class B Common Stock, (iii) 50,000,000 shares of Class F Common Stock and (iv) 5,000,000 shares of preferred stock ("***SPAC Preferred Stock***"). As of the date of this Agreement, (i) 27,600,000 shares of Class A Common Stock are issued and outstanding, all of which are validly issued, fully paid and non-assessable and not subject to any preemptive rights, (ii) 6,900,000 shares of Class F Common Stock are issued and outstanding, all of which are validly issued, fully paid and non-assessable and not subject to any preemptive rights, (iii) no shares of Class A Common Stock or Founder Shares are held in treasury of SPAC, (iv) 27,530,000 SPAC Warrants are issued and outstanding, and (v) 27,530,000 shares of Class A Common Stock are reserved for future issuance pursuant to the SPAC Warrants. As of the date of this Agreement, there are no shares of SPAC Preferred Stock or Class B Common Stock issued and outstanding. Each SPAC Warrant is exercisable for one share of Class A Common Stock at an exercise price of $11.50. As of the date of this Agreement, there are only 175,000 shares of Class F Common Stock held by Persons other than the Sponsor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All outstanding SPAC Units, shares of Class A Common Stock, shares of Class F Common Stock and SPAC Warrants have been issued and granted in compliance with all applicable securities laws and other applicable Laws and were issued free and clear of all Liens other than transfer restrictions under applicable securities laws and the SPAC Organizational Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Except for the SPAC Units and the SPAC Warrants, SPAC has not issued any options, warrants, preemptive rights, calls, convertible securities or other rights, agreements, arrangements or commitments of any character relating to the issued or unissued capital stock of SPAC or obligating SPAC to issue or sell any shares of capital stock of, or other Equity Securities in, SPAC. All shares of Class A Common Stock subject to issuance as aforesaid, upon issuance on the terms and conditions specified in the instruments pursuant to which they are issuable, will be duly authorized, validly issued, fully paid and non-assessable. SPAC is not a party to, or otherwise bound by, and SPAC has not granted, any equity appreciation rights, participations, phantom equity or similar rights. Other than the letter agreement, dated November 16, 2021, among the SPAC, its officers and directors, the Sponsor and certain other parties thereto, and the Support Agreement, SPAC is not a party to any voting trusts, voting agreements, proxies, shareholder agreements or other agreements with respect to the voting or transfer of Class A Common Stock or any of the Equity Securities or other securities of SPAC. Other than as set forth in the SPAC Organizational Documents and the SPAC SEC Reports, there are no outstanding contractual obligations of SPAC to repurchase, redeem or otherwise acquire any shares of Class A Common Stock. There are no outstanding contractual obligations of SPAC to make any investment (in the form of a loan, capital contribution or otherwise) in, any person.

Section 5.4 <u>Authority Relative to This Agreement</u>. SPAC has all necessary corporate power and authority to execute and deliver this Agreement, to perform its obligations hereunder and to consummate the Transactions. The execution and delivery of this Agreement by SPAC and the consummation by SPAC of the Transactions, has been duly and validly authorized by all necessary corporate action, and no other corporate proceedings on the part of SPAC is necessary to authorize this Agreement or to consummate the Transactions (other than the receipt of the SPAC Stockholder Approval). This Agreement has been duly and validly executed and delivered by SPAC and, assuming due authorization, execution and delivery by the Company and Merger Sub, constitutes a legal, valid and binding obligation of SPAC, enforceable against SPAC in accordance with its terms subject to the Remedies Exceptions.

Section 5.5 <u>No Conflict; Required Filings and Consents</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The execution and delivery of this Agreement by SPAC does not, and the performance of this Agreement by SPAC will not, (i) conflict with or violate the SPAC Organizational Documents, (ii) assuming that all consents, approvals, authorizations and other actions described in <u>Section 5.5(b)</u> have been obtained and all filings and obligations described in <u>Section 5.5(b)</u> have been made, conflict with or violate any Law, rule, regulation, order, judgment or decree applicable to SPAC or by which any of its property or assets is bound or affected, or (iii) result in any breach of, or constitute a default (or an event which, with notice or lapse of time or both, would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, or result in the creation of a Lien on any property or asset of SPAC pursuant to, any note, bond, mortgage, indenture, Contract lease, license, permit, franchise or other instrument or obligation to which SPAC is a party or by which SPAC or any of its property or assets is bound or affected, except, with respect to <u>clauses (ii)</u> and <u>(iii)</u>, for any such conflicts, violations, breaches, defaults or other occurrences which individually or in the aggregate would not have or reasonably be expected to have a SPAC Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The execution and delivery of this Agreement by SPAC does not, and the performance of this Agreement by SPAC will not, require any consent, approval, authorization or permit of, or filing with or notification to, any Governmental Authority, except (i) for applicable requirements, if any, of the Securities Act, the Exchange Act, Blue Sky Laws and Takeover Laws and the filing and approval under the FATA (if required) and (ii) where the failure to obtain such consents, approvals, authorizations or permits, or to make such filings or notifications, would not, individually or in the aggregate, prevent or materially delay consummation of any of the Transactions or otherwise prevent SPAC from performing its material obligations under this Agreement.

Section 5.6 <u>Compliance</u>. SPAC is not and has not been in conflict with, or in default, breach or violation of, (a) any Law applicable to SPAC or by which any property or asset of SPAC is bound or affected, or (b) any note, bond, mortgage, indenture, Contract lease, license, permit, franchise or other instrument or obligation to which SPAC is a party or by which SPAC or any property or asset of SPAC is bound, except, in each case, for any such conflicts, defaults, breaches or violations that would not have or reasonably be expected to have a SPAC Material Adverse Effect. SPAC is in possession of all material franchises, grants, authorizations, licenses, permits, easements, variances, exceptions, consents, certificates, approvals and orders of any Governmental Authority necessary for SPAC to own, lease and operate its properties or to carry on its business as it is now being conducted.

Section 5.7 <u>SEC Filings; Financial Statements; Sarbanes-Oxley</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) SPAC has filed all forms, reports, schedules, statements and other documents, including any exhibits thereto, required to be filed by it with the Securities and Exchange Commission (the "***SEC***"), together with any amendments, restatements or supplements thereto (collectively, the "***SPAC SEC Reports***"). SPAC has heretofore furnished to the Company true and correct copies of all amendments and modifications that have not been filed by SPAC with the SEC to all agreements, documents and other instruments that previously had been filed by SPAC with the SEC and are currently in effect. As of their respective dates, the SPAC SEC Reports (i) complied in all material respects with the applicable requirements of the Securities Act of 1933, as amended (the "***Securities Act***"), the Exchange Act and the Sarbanes-Oxley Act, and the rules and regulations promulgated thereunder, in each case, as in effect at the time they were filed, and (ii) did not, at the time they were filed, or, if amended, as of the date of such amendment, contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements made therein, in the light of the circumstances under which they were made, not misleading. Each director and executive officer of SPAC has filed with the SEC all documents required with respect to their SPAC Equity Securities by Section 16(a) of the Exchange Act and the rules and regulations thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each of the financial statements (including, in each case, any notes thereto) contained in the SPAC SEC Reports was prepared in accordance with GAAP (applied on a consistent basis) and Regulation S-X and Regulation S-K, as applicable, throughout the periods indicated (except as may be indicated in the notes thereto or, in the case of unaudited financial statements, as permitted by Form 10-Q of the SEC) and each fairly presents, in all material respects, the financial position, results of operations, changes in stockholders equity and cash flows of SPAC as at the respective dates thereof and for the respective periods indicated therein, (subject, in the case of unaudited statements, to normal and recurring year-end adjustments which have not had, and would not reasonably be expected to individually or in the aggregate be material). SPAC has no off-balance sheet arrangements that are not disclosed in the SPAC SEC Reports. No financial statements other than those of SPAC are required by GAAP to be included in the consolidated financial statements of SPAC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Except as and to the extent set forth in the SPAC SEC Reports, SPAC does not have any liability or obligation of a nature (whether accrued, absolute, contingent or otherwise) required to be reflected on a balance sheet prepared in accordance with GAAP, except for liabilities and obligations arising in the ordinary course of SPAC's business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) SPAC is in compliance in all material respects with the applicable listing and corporate governance rules and regulations of the New York Stock Exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) SPAC has established and maintains disclosure controls and procedures (as defined in Rule 13a-15 under the Exchange Act). Such disclosure controls and procedures are designed to ensure that material information relating to SPAC and other material information required to be disclosed by SPAC in the reports and other documents that it files or furnishes under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the SEC, and that all such material information is accumulated and communicated to SPAC's principal executive officer and its principal financial officer as appropriate to allow timely decisions regarding required disclosure and to make the certifications required pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act. Such disclosure controls and procedures are effective in timely alerting SPAC's principal executive officer and principal financial officer to material information required to be included in SPAC's periodic reports required under the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) SPAC maintains systems of internal control over financial reporting that are sufficient to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with GAAP, including policies and procedures sufficient to provide reasonable assurance: (i) that SPAC maintains records that in reasonable detail accurately and fairly reflect, in all material respects, its transactions and dispositions of assets; (ii) that transactions are recorded as necessary to permit the preparation of financial statements in conformity with GAAP; (iii) that receipts and expenditures are being made only in accordance with authorizations of management and its board of directors; and (iv) regarding prevention or timely detection of unauthorized acquisition, use or disposition of its assets that could have a material effect on its financial statements. SPAC has delivered to the Company a true and complete copy of any disclosure (or, if unwritten, a summary thereof) by any representative of SPAC to SPAC's independent auditors relating to any material weaknesses in internal controls and any significant deficiencies in the design or operation of internal controls that would adversely affect the ability of SPAC to record, process, summarize and report financial data. SPAC has no knowledge of any fraud or whistle-blower allegations, whether or not material, that involve management or other employees or consultants who have or had a significant role in the internal control over financial reporting of SPAC, and there have been no material changes in SPAC internal control over financial reporting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) There are no outstanding loans or other extensions of credit made by SPAC to any executive officer (as defined in Rule 3b-7 under the Exchange Act) or director of SPAC. SPAC has not taken any action prohibited by Section 402 of the Sarbanes-Oxley Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Neither SPAC (including any employee thereof) nor SPAC's independent auditors has identified or been made aware of (i) any significant deficiency or material weakness in the system of internal accounting controls utilized by SPAC, (ii) any fraud, whether or not material, that involves SPAC's management or other employees who have a role in the preparation of financial statements or the internal accounting controls utilized by SPAC or (iii) any claim or allegation regarding any of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) As of the date hereof, there are no outstanding SEC comments from the SEC with respect to the SPAC SEC Reports. To the knowledge of SPAC, none of the SPAC SEC Reports filed on or prior to the date hereof is subject to ongoing SEC review or investigation as of the date hereof.

Section 5.8 <u>Absence of Certain Changes or Events</u>. Since December 31, 2021, except as expressly contemplated by this Agreement, (a) SPAC has conducted its business in the ordinary course and in a manner consistent with past practice, (b) there has not been any SPAC Material Adverse Effect and (c) SPAC has not taken any action that, if taken after the date of this Agreement, would constitute a material breach of any of the covenants set forth in <u>Section 6.2</u>.

Section 5.9 <u>Absence of Litigation</u>. There is no material Action pending or, to the knowledge of SPAC, threatened against SPAC, or any property or asset of SPAC, before any Governmental Authority. Neither SPAC nor any material property or asset of SPAC is subject to any continuing order of, consent decree, settlement agreement or other similar written agreement with, or, to the knowledge of SPAC, continuing investigation by, any Governmental Authority.

Section 5.10 <u>Board Approval; Vote Required</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The SPAC Board, by resolutions duly adopted by a unanimous vote of those voting at a meeting duly called and held and not subsequently rescinded or modified in any way, has duly (i) determined that this Agreement and the Transactions to which SPAC is a party, including the Merger, are fair to and in the best interests of SPAC and its stockholders, (ii) approved this Agreement and the Transactions to which SPAC is a party, including the Merger, and declared their advisability, (iii) recommended that the stockholders of SPAC approve and adopt this Agreement, the Merger and the other transactions contemplated by this Agreement and (iv) directed that this Agreement, the Merger and the other transactions contemplated by this Agreement, be submitted for consideration by the stockholders of SPAC at the SPAC Stockholders' Meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The only vote of the holders of any class or series of capital stock of SPAC necessary to approve the Merger and the other transactions contemplated by this Agreement is the affirmative vote of the holders of a majority of the outstanding shares of Class A Common Stock, Class B Common Stock and Class F Common Stock, voting together as a single class (the "***SPAC Stockholder Approval***").

Section 5.11 <u>Brokers.</u> Except as set forth on <u>Section 5.11</u> of the SPAC Disclosure Schedule, no broker, finder or investment banker is entitled to any brokerage, finder's or other fee or commission in connection with the Transactions based upon arrangements made by or on behalf of SPAC. SPAC has provided the Company with a true and complete copy of all Contracts, including its engagement letter, between SPAC and the persons identified on <u>Section 5.11</u> of the SPAC Disclosure Schedule, other than those that have expired or terminated and as to which no further services are contemplated thereunder to be provided in the future.

Section 5.12 <u>Transactions with Related Parties</u>. There are no transactions, agreements, arrangements or understandings between SPAC, on the one hand, and any director, officer or stockholder (or affiliate thereof) of SPAC, on the other hand, either (a) currently in effect or (b) that would be required to be disclosed under Item 404 of Regulation S-K promulgated under the Securities Act.

Section 5.13 <u>SPAC Trust Fund</u>. As of the date of this Agreement, SPAC has no less than $281,520,000 in the trust fund established by SPAC for the benefit of its public stockholders (the "***Trust Fund***") maintained in a trust account at J.P. Morgan Chase Bank, N.A. (or at another U.S. chartered commercial bank with consolidated assets of $100 billion or more) (the "***Trust Account***"). The monies of such Trust Account are invested in United States Government securities or money market funds meeting certain conditions under Rule 2a-7 promulgated under the Investment Company Act and held in trust by Continental Stock Transfer & Trust Company (the "***Trustee***") pursuant to the Investment Management Trust Agreement, dated as of November 16, 2021, between SPAC and the Trustee (the "***Trust Agreement***"). The Trust Agreement has not been amended or modified and is valid and in full force and effect and is enforceable in accordance with its terms, subject to the Remedies Exceptions. SPAC has complied in all material respects with the terms of the Trust Agreement and is not in breach thereof or default thereunder and there does not exist under the Trust Agreement any event which, with the giving of notice or the lapse of time, would constitute such a breach or default by SPAC or the Trustee. There are no separate Contracts side letters or other understandings (whether written or unwritten, express or implied): (i) between SPAC and the Trustee that would cause the description of the Trust Agreement in the SPAC SEC Reports to be inaccurate in any material respect; or (ii) to the knowledge of SPAC, that would entitle any person (other than stockholders of SPAC who shall have elected to redeem their shares of Class A Common Stock pursuant to the SPAC Organizational Documents) to any portion of the proceeds in the Trust Account. Prior to the Closing, none of the funds held in the Trust Account may be released except: (A) to pay taxes from any interest income earned in the Trust Account; and (B) upon the exercise of Redemption Rights in accordance with the provisions of the SPAC Organizational Documents. There are no Actions pending or, to the knowledge of SPAC, threatened in writing with respect to the Trust Account. Upon consummation of the Transactions and notice thereof to the Trustee pursuant to the Trust Agreement, SPAC shall cause the Trustee to, and the Trustee shall thereupon be obligated to, release to SPAC as promptly as practicable, the Trust Funds in accordance with the Trust Agreement at which point the Trust Account shall terminate; *provided*, *however*, that the liabilities and obligations of SPAC due and owing or incurred at or prior to the Closing shall be paid as and when due, including all amounts payable (a) to stockholders of SPAC who shall have exercised their Redemption Rights, (b) with respect to filings, applications and/or other actions taken pursuant to this Agreement required under Law, (c) to the Trustee for fees and costs incurred in accordance with the Trust Agreement, and (d) to third parties (e.g., professionals, printers, etc.) who have rendered services to SPAC in connection with its efforts to effect the Transactions. As of the date hereof, assuming the accuracy of the representations and warranties of the Company herein and the compliance by the Company with its respective obligations hereunder, SPAC has no reason to believe that any of the conditions to the use of funds in the Trust Account will not be satisfied or funds available in the Trust Account will not be available to SPAC at the Closing.

Section 5.14 <u>Employees</u>. Other than any officers as described in the SPAC SEC Reports, SPAC has never employed any employees on its payroll. Other than reimbursement of any out-of-pocket expenses incurred by SPAC's officers and directors in connection with activities on SPAC's behalf in an aggregate amount not in excess of the amount of cash held by SPAC outside of the Trust Account, SPAC has no unsatisfied material liability with respect to any employee, officer or director. SPAC has never and does not currently maintain, sponsor, contribute to or have any direct liability under any employee benefit plan (as defined in Section 3(3) of ERISA), nonqualified deferred compensation plan subject to Section 409A of the Code, bonus, stock option, stock purchase, restricted stock, incentive, deferred compensation, retiree medical or life insurance, supplemental retirement, severance, change in control, fringe benefit, sick pay and vacation plans or arrangements or other employee benefit plan, program or arrangement. The Transactions shall not be the direct or indirect cause of any amount paid or payable by SPAC, its subsidiaries or any of their affiliates being classified as an "excess parachute payment" under Section 280G of the Code or the imposition of any additional Tax under Section 4999 or 409A(a)(1)(B) of the Code. There is no contract, agreement, plan or arrangement to which SPAC or any of its subsidiaries is a party which requires payment by any party of a Tax gross-up or Tax reimbursement payment to any person, including under Section 4999 or 409A of the Code.

Section 5.15 <u>Taxes</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) SPAC (i) has duly and timely filed (taking into account any extension of time within which to file) all material Tax Returns required to be filed by any of them and all such filed Tax Returns are complete and accurate in all material respects; (ii) has timely paid all material Taxes, whether or not shown as due on such filed Tax Returns, except with respect to Taxes that are being contested in good faith and are disclosed in <u>Section 5.15(a)</u> of the Company Disclosure Schedule; (iii) has not waived any statute of limitations with respect to material Taxes or agreed to any extension of time with respect to a material Tax assessment or deficiency (other than any extensions of time to file Tax Returns obtained in the ordinary course), which waiver or extension remains in effect; and (iv) does not have any Tax Claim in respect of material Taxes, or material Tax matters, pending or proposed or threatened in writing except for any material Tax Claim being contested in good faith that is disclosed in <u>Section 5.15(a)</u> of the Company Disclosure Schedule.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) SPAC is not a party to, is not bound by and does not have an obligation under any Tax sharing agreement, Tax indemnification agreement, Tax allocation agreement or similar Contract (other than customary commercial Contracts entered into in the ordinary course of business the primary purpose of which does not relate to Taxes).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) SPAC will not be required to include any material item of income in, or exclude any material item of deduction from, taxable income for any taxable period (or portion thereof) ending after the Closing Date as a result of any: (i) change in method of accounting for a taxable period (or portion thereof) ending on or prior to the Closing Date, made or required to be made prior to the Closing, resulting in an adjustment under Section 481(c) of the Code (or any corresponding or similar provision of U.S. state or local or non-U.S. Tax Law); (ii) written agreement with any Taxing Authority relating to a material Tax liability of SPAC executed prior to the Closing; (iii) installment sale or open transaction disposition made prior to the Closing; or (iv) prepaid amount received prior to the Closing outside the ordinary course of business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) SPAC has not received written notice of any claim from a Taxing Authority in a jurisdiction in which SPAC does not file Tax Returns stating that such person is or may be subject to material Taxes in such jurisdiction that has not been resolved.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) In all material respects, SPAC has withheld and paid to the appropriate Taxing Authority all Taxes required to have been withheld and paid in connection with amounts paid or owing to any current or former employee, independent contractor, creditor, shareholder or other third party and has complied with applicable information reporting requirements related thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) SPAC has not been a member of an affiliated group filing a consolidated, combined or unitary U.S. federal, state or local or non-U.S. Tax Return.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) SPAC does not have any material liability for the Taxes of any person pursuant to Treasury Regulations Section 1.1502-6 (or any similar provision of U.S. state or local or non-U.S. Tax Law), as a transferee or successor, or by Contract (other than, in each case, liabilities for Taxes pursuant to customary commercial Contracts entered into in the ordinary course of business the primary purpose of which does not relate to Taxes).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) SPAC (i) does not have any request for a ruling in respect of Taxes pending between SPAC and any Taxing Authority and (ii) has not entered into any private letter ruling, technical advice memoranda or similar agreements with any Taxing Authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) In the past two (2) years, SPAC has not distributed stock of another person, or had its stock distributed by another person, in a transaction that was purported or intended to be governed in whole or in part by Section 355 of the Code (or any corresponding or similar provision of U.S. state or local or non-U.S. Tax Law).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) SPAC has not engaged in or entered into a "listed transaction" within the meaning of Treasury Regulations Section 1.6011-4(b)(2).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) There are no material Tax Liens upon any assets of SPAC except for Liens for Taxes not yet delinquent, or, if delinquent, being contested in good faith by appropriate proceedings and for which appropriate reserves have been made by SPAC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) SPAC has not received written notice from a Taxing Authority asserting that it is subject to Tax in any country other than its country of incorporation, organization or formation by virtue of having employees, a permanent establishment, other place of business or similar presence in that country, which assertion has not been resolved.

Section 5.16 <u>Listing</u>. The issued and outstanding SPAC Units are registered pursuant to Section 12(b) of the Exchange Act and are listed for trading on the New York Stock Exchange under the symbol "NETC.U". The issued and outstanding shares of Class A Common Stock are registered pursuant to Section 12(b) of the Exchange Act and are listed for trading on the New York Stock Exchange under the symbol "NETC". The issued and outstanding SPAC Warrants are registered pursuant to Section 12(b) of the Exchange Act and are listed for trading on the New York Stock Exchange under the symbol "NETC.WS". There is no Action pending or threatened in writing against SPAC by the New York Stock Exchange or the SEC with respect to any intention by such entity to deregister the SPAC Units, the shares of Class A Common Stock or SPAC Warrants or terminate the listing of SPAC on the New York Stock Exchange. None of SPAC or any of its affiliates has taken any action in an attempt to terminate the registration of the SPAC Units, the shares of Class A Common Stock or the SPAC Warrants.

Section 5.17 <u>Business Activities</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Since formation, SPAC has not conducted any business activities other than activities related to SPAC's initial public offering or directed toward the accomplishment of a business combination. Except as set forth in the SPAC Organizational Documents or as otherwise contemplated by this Agreement or the Transaction Documents and the Transactions, there is no agreement, commitment, or orders by Governmental Authorities binding upon SPAC or to which SPAC is a party which has or would reasonably be expected to have the effect of prohibiting or impairing any business practice of SPAC or any acquisition of property by SPAC or the conduct of business by SPAC as currently conducted or as contemplated to be conducted as of the Closing, other than such effects, individually or in the aggregate, which have not been and would not reasonably be expected to be material to SPAC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except for the Transactions, SPAC does not own or have a right to acquire, directly or indirectly, any interest or investment (whether equity or debt) in any corporation, partnership, joint venture, business, trust or other entity. Except for this Agreement and the Transaction Documents and the Transactions, SPAC has no material interests, rights, obligations or liabilities with respect to, and is not party to, bound by or has its assets or property subject to, in each case whether directly or indirectly, any Contract or transaction which is, or would reasonably be interpreted as constituting, a business combination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Except for this Agreement, the Transaction Documents and the Transactions (including with respect to expenses and fees incurred in connection therewith), SPAC is not party to any Contract or arrangement with any other person that would require payments by SPAC after the Closing in excess of $100,000 in the aggregate with respect to any individual Contract.

Section 5.18 <u>Reporting Company</u>. SPAC is a publicly held company subject to reporting obligations pursuant to Section 13 of the Exchange Act.

Section 5.19 <u>Investment Company</u>. SPAC is not an "investment company" within the meaning of the Investment Company Act.

Section 5.20 <u>Extension Amount</u>. The Sponsor or one or more of its designated affiliates will have at the time the Extension Amount is to be deposited into the Trust Account under <u>Section 7.16</u> immediately available funds in an amount equal to the Extension Amount.

Section 5.21 <u>SPAC's Investigation and Reliance</u>. SPAC is a sophisticated purchaser and has made its own independent investigation, review and analysis regarding the Company and any Company Subsidiary and the Transactions, which investigation, review and analysis were conducted by SPAC together with expert advisors, including legal counsel, that they have engaged for such purpose. SPAC and its Representatives have been provided with full and complete access to the properties, offices, plants and other facilities, books and records of the Company and any Company Subsidiary and other information that they have requested in connection with their investigation of the Company and any Company Subsidiary and the Transactions. SPAC is not relying on any statement, representation or warranty, oral or written, express or implied, made by the Company or any Company Subsidiary or any of their respective Representatives, except as expressly set forth in <u>Article IV</u> (as modified by the Company Disclosure Schedule). None of the Company, Merger Sub nor any of their respective stockholders, affiliates or Representatives shall have any liability to SPAC or any of their respective stockholders, affiliates or Representatives resulting from the use of any information, documents or materials made available to SPAC or any of its Representatives, whether orally or in writing, in any confidential information memoranda, "data rooms," management presentations, due diligence discussions or in any other form in expectation of the Transactions. None of the Company, Merger Sub nor any of their respective stockholders, affiliates or Representatives is making, directly or indirectly, any representation or warranty with respect to any estimates, projections or forecasts involving the Company, Merger Sub and/or any other Company Subsidiary.

Section 5.22 <u>Exclusivity of Representations and Warranties</u>. Except as otherwise expressly provided in this <u>Article V</u> (as modified by the SPAC Disclosure Schedule), SPAC hereby expressly disclaims and negates, any other express or implied representation or warranty whatsoever (whether at Law or in equity) with respect to SPAC, its affiliates and any matter relating to any of them, including their affairs, the condition, value or quality of the assets, liabilities, financial condition or results of operations, or with respect to the accuracy or completeness of any other information made available to the Company, Merger Sub, their respective affiliates or any of their respective Representatives by, or on behalf of, SPAC, and any such representations or warranties are expressly disclaimed. Without limiting the generality of the foregoing, except as expressly set forth in this Agreement or any certificate delivered by SPAC pursuant to this Agreement, SPAC and any other person on behalf of SPAC have not made, and does not make, any representation or warranty, whether express or implied, with respect to any projections, forecasts, estimates or budgets made available to the Company, Merger Sub, their respective affiliates or any of their respective Representatives of future revenues, future results of operations (or any component thereof), future cash flows or future financial condition (or any component thereof) of SPAC (including the reasonableness of the assumptions underlying any of the foregoing), whether or not included in any management presentation or in any other information made available to the Company, Merger Sub, their respective affiliates or any of their respective Representatives or any other person, and that any such representations or warranties are expressly disclaimed.

**Article VI** **<br> CONDUCT OF BUSINESS**

Section 6.1 <u>Conduct of Business by the Company</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company agrees that, between the date of this Agreement and the Closing or the earlier termination of this Agreement in accordance with <u>Article IX</u>, except as (1) expressly contemplated by any other provision of this Agreement or any other Transaction Document (including the Convertible Financing, the PIPE Financing and the Company Split Adjustment), (2) set forth in <u>Section 6.1</u> of the Company Disclosure Schedule or (3) required by applicable Law (including COVID-19 Measures), unless SPAC shall otherwise consent in writing (such consent not to be unreasonably withheld, conditioned or delayed):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Company shall, and shall cause the Company Subsidiaries to, use their respective reasonable best efforts to conduct their business in the ordinary course of business; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Company shall, and shall cause the Company Subsidiaries to, use their respective reasonable best efforts to (A) preserve substantially intact the business organization of the Company and the Company Subsidiaries, (B) keep available the services of the current officers, key employees and key consultants of the Company and the Company Subsidiaries and (C) preserve the current relationships of the Company and the Company Subsidiaries with customers, suppliers and other persons with which the Company and the Company Subsidiaries have significant business relations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) By way of amplification and not limitation, except as (1) expressly contemplated by any other provision of this Agreement or any other Transaction Document (including the Convertible Financing, the PIPE Financing and the Company Split Adjustment), (2) set forth in <u>Section 6.1</u> of the Company Disclosure Schedule and (3) required by applicable Law, the Company shall not, and shall cause each Company Subsidiary not to, between the date of this Agreement and the Closing or the earlier termination of this Agreement, directly or indirectly, do any of the following without the prior written consent of SPAC (such consent not to be unreasonably withheld, conditioned or delayed):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) amend or otherwise change the certificate of incorporation, constitution or equivalent organizational documents of the Company or any Company Subsidiary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) issue, sell, pledge, dispose of, grant or encumber, or authorize the issuance, sale, pledge, disposition, grant or encumbrance of, (A) any shares of any class of capital stock or other securities of the Company or any Company Subsidiary, or any options, warrants, convertible securities or other rights of any kind to acquire any shares of such capital stock, or any other ownership interest (including any phantom interest), of the Company or any Company Subsidiary (other than the issuance of Equity Securities pursuant to the terms of awards existing as of the date of this Agreement) or (B) except in the ordinary course of business or in connection with the disposition of any obsolete assets, any material assets of the Company or any Company Subsidiary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) declare, set aside, make or pay any dividend or other distribution, payable in cash, stock, property or otherwise, with respect to any capital stock of the Company or any Company Subsidiary (other than to the Company or another wholly owned Company Subsidiary);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) reclassify, combine, split, subdivide or redeem, or purchase or otherwise acquire, directly or indirectly, any capital stock of the Company or any Company Subsidiary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) acquire (including by merger, consolidation, acquisition of stock or assets or any other business combination) (A) any corporation, partnership, other business organization or any division thereof or (B) except in the ordinary course of business, any assets for consideration that in the aggregate with all such other acquisitions of assets exceeds $1,000,000;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) (A) incur any indebtedness for borrowed money in excess of $500,000 in the aggregate, (B) issue or sell any debt securities or options, warrants, calls or other rights to acquire debt securities of the Company or any Company Subsidiary, (C) assume, guarantee or endorse, or otherwise become responsible for, the indebtedness or other obligations of any person, or (D) intentionally grant any security interest in any of its assets, in each case, except in the ordinary course of business and consistent with past practice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) make any loans, advances or capital contributions to, or investments in, any person (including to any of its officers, directors, agents, employees or consultants), make any material change in its existing borrowing or lending arrangements for or on behalf of such persons, or enter into any "keep well" or similar agreement to maintain the financial condition of any other person, except advances to employees or officers of the Company or any Company Subsidiaries in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) (A) grant any material increase in the compensation, incentives or benefits payable or to become payable to any current or former director, officer, employee, contractor or consultant of the Company or any Company Subsidiary, other than in the ordinary course of business for employees with annualized compensation less than $300,000, (B) enter into any new, or materially amend any existing employment, retention, bonus, change in control, consulting agreement or other Contract with any current or former director, officer, employee, contractor or consultant of the Company or any Company Subsidiary other than in the ordinary course of business for current employees with annualized compensation less than $300,000, (C) accelerate or commit to accelerate the funding, payment, or vesting of any compensation or benefits to any current or former director, officer, employee, contractor or consultant of the Company or any Company Subsidiary, (D) hire or otherwise enter into any employment or consulting agreement or arrangement with any person (unless (I) necessary to replace an employee or consultant whose employment or engagement has terminated, in which case such new terms of employment or engagement shall be comparable to those of the employee or consultant being replaced, or (II) reasonably necessary to expand the business or operations of the Company or any Company Subsidiary), or (E) terminate or transfer the employment or engagement of any employee, independent contractor or consultant of the Company or any Company Subsidiary other than terminations for cause;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) enter into or become bound by any collective bargaining agreement, collective agreement, or other Contract with a labor union, works council, trade union, or labor organization, or other employee representative applicable to persons employed by the Company or any Company Subsidiary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) make any change in any method of financial accounting or financial accounting principles, policies, procedures or practices, except as required by applicable Law or applicable accounting principles made subsequent to the date hereof, as agreed to by its independent accountants;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi) (A) make any material Tax election (except in the ordinary course of business) or change or revoke any material Tax election, (B) change any material method of Tax accounting, (C) amend any material Tax Return, or (D) settle or compromise any material Tax Claim;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii) grant any severance or termination pay to, any director or officer of the Company or any Company Subsidiary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii) adopt, amend and/or terminate any Plan except as permitted by this Agreement, as is necessary in order to consummate the Transactions, or any health and welfare Plan renewals in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv) other than in the ordinary course of business (A) materially amend, modify or consent to the termination (excluding any expiration in accordance with its terms) of any Material Contract, in a manner that is adverse to the Company or any Company Subsidiary or (B) enter into any Contract that would have been a Material Contract had it been entered into prior to the date of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv) make any material alterations or improvements to the Owned Real Property or the Leased Real Property, or materially amend any agreements affecting the Owned Real Property or the Leased Real Property, in each case, other than in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvi) abandon or permit any material Registered Company IP to lapse or to be abandoned, or fail to perform or make any applicable filings, recordings or other similar actions or filings with respect to any material Registered Company IP, or fail to pay all required fees and taxes required to maintain and protect its interest in any material Registered Company IP;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvii) adopt or enter into a plan of complete or partial liquidation, dissolution, merger, consolidation, restructuring, recapitalization or other reorganization of the Company or any Company Subsidiary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xviii) form any subsidiary or acquire any Equity Securities or other interest in any other entity or enter into a joint venture with any other entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xix) make any material capital expenditures (or commitment to make any capital expenditures), other than capital expenditures (or series of related capital expenditures) consistent with the Company's capital expenditure budget included in <u>Section 6.1</u> of the Company Disclosure Schedule;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xx) waive, release, assign, settle or compromise any Action, other than waivers, releases, assignments, settlements or compromises that are solely monetary in nature and do not exceed $100,000 individually or $250,000 in the aggregate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxi) enter into any new line of business outside of the business currently conducted by the Company or the Company Subsidiaries as of the date of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxii) voluntarily fail to use reasonable best efforts to maintain coverage under any insurance policy in form and amount equivalent in all material respects to the insurance coverage currently maintained with respect to the Company and any Company Subsidiaries and their assets and properties; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxiii) enter into any agreement or otherwise make a binding commitment to do any of the foregoing.

Section 6.2 <u>Conduct of Business by SPAC</u>. Except as expressly contemplated by any other provision of this Agreement or any other Transaction Document, as set forth on <u>Section 6.2</u> of the SPAC Disclosure Schedule and as required by applicable Law (including COVID-19 Measures), SPAC agrees that from the date of this Agreement until the earlier of the termination of this Agreement and the Closing, unless the Company shall otherwise consent in writing (such consent not to be unreasonably withheld, conditioned or delayed), SPAC shall use reasonable best efforts to conduct its business in the ordinary course. By way of amplification and not limitation, except as expressly contemplated by any other provision of this Agreement or any other Transaction Document, as set forth on <u>Section 6.2</u> of the SPAC Disclosure Schedule and as required by applicable Law, SPAC shall not, between the date of this Agreement and the Closing Date or the earlier termination of this Agreement, directly or indirectly, do any of the following without the prior written consent of the Company (such consent not to be unreasonably withheld, conditioned or delayed):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) amend or otherwise change the SPAC Organizational Documents or form any subsidiary of SPAC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) declare, set aside, make or pay any dividend or other distribution, payable in cash, stock, property or otherwise, with respect to any of its capital stock, other than redemptions from the Trust Fund that are required pursuant to the SPAC Organizational Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) reclassify, combine, split, subdivide or redeem, or purchase or otherwise acquire, directly or indirectly, any of the Class A Common Stock, Class B Common Stock, Class F Common Stock or SPAC Warrants except for redemptions from the Trust Fund that are required pursuant to the SPAC Organizational Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) issue, sell, pledge, dispose of, grant or encumber, or authorize the issuance, sale, pledge, disposition, grant or encumbrance of, any shares of any class of capital stock or other securities of SPAC, or any options, warrants, convertible securities or other rights of any kind to acquire any shares of such capital stock, or any other ownership interest (including any phantom interest), of SPAC, except in connection with the Extension Amount;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) acquire (including, by merger, consolidation, acquisition of stock or assets or any other business combination) any corporation, partnership, other business organization, or enter into any strategic joint ventures, partnerships or alliances with any other person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) incur any indebtedness for borrowed money or guarantee any such indebtedness of another person or persons, issue or sell any debt securities or options, warrants, calls or other rights to acquire any debt securities of SPAC, except in connection with the Extension Amount;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) make any loans, advances or capital contributions to, or investments in, any other person (including to any of its officers, directors, agents or consultants), make any material change in its existing borrowing or lending arrangements for or on behalf of such persons, or enter into any "keep well" or similar agreement to maintain the financial condition of any other person, in each case, except in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) make any change in any method of financial accounting or financial accounting principles, policies, procedures or practices, except as required by GAAP or applicable Law made subsequent to the date hereof, as agreed to by its independent accountants;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) (A) make any material Tax election (except in the ordinary course of business) or change or revoke any material Tax election, (B) change any material method of Tax accounting, (C) amend any material Tax Return, or (D) settle or compromise any material Tax Claim;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) liquidate, dissolve, reorganize or otherwise wind up the business and operations of SPAC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) amend the Trust Agreement or any other agreement related to the Trust Account;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) hire or otherwise enter into any employment or consulting agreement or arrangement with any other person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) waive, release, assign, settle or compromise any Action, other than waivers, releases, assignments, settlements or compromises that are solely monetary in nature and do not exceed $100,000 individually or $250,000 in the aggregate; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) enter into any agreement or otherwise make a binding commitment to do any of the foregoing.

Section 6.3 <u>Claims Against Trust Account</u>. The Company and Merger Sub agree that, notwithstanding any other provision contained in this Agreement, the Company and Merger Sub do not now, nor shall at any time hereafter, have any right, title, interest or claim of any kind in or to any monies in the Trust Account, or make any claim against the Trust Account, in connection with or relating to this Agreement or the Transactions, regardless of whether such claim arises based on contract, tort, equity or any other theory of legal liability (any and all such claims are collectively referred to in this <u>Section 6.3</u> as the "***Released Claims***"); *provided, however,* that the foregoing waiver will not limit or prohibit the Company or Merger Sub from pursuing a claim against SPAC or any other person for legal relief against monies or other assets of SPAC held outside of the Trust Account or for specific performance or other equitable relief in connection with the Transactions, including a claim for SPAC to specifically perform its obligations under this Agreement and cause the disbursement of the balance of the cash remaining in the Trust Account (after giving effect to the Redemption Rights of the SPAC's public stockholders) (the "***Retained Claims***"). The Company and Merger Sub hereby irrevocably waive any Released Claims that it may have against the Trust Account now or in the future as a result of, or arising out of this Agreement or the Transactions and will not seek recourse against the Trust Account for any Released Claims; *provided*, *however*, that the Company and Merger Sub do not waive any Retained Claims. The Company and Merger Sub agree and acknowledge that such irrevocable waiver is material to this Agreement and specifically relied upon by SPAC and its respective affiliates to induce SPAC to enter into this Agreement, and the Company and Merger Sub further intend and understand such waiver to be valid, binding and enforceable against it under applicable law. In the event that any of the Company or Merger Sub commences any action or proceeding against or involving the Trust Fund in violation of the foregoing, the prevailing party or parties shall be entitled to recover from the non-prevailing party or parties the associated reasonable legal fees and costs in connection with any such action.

**Article VII** **<br> ADDITIONAL AGREEMENTS**

Section 7.1 <u>Registration Statement; Proxy Statement</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) As promptly as practicable after the execution of this Agreement and receipt of the applicable PCAOB Financial Statements, SPAC and the Company shall prepare, and the Company shall file with the SEC, a registration statement on Form F-4 (as amended or supplemented, the "***Registration Statement***"), which will include (1) a proxy statement ("***Proxy Statement***") to be sent to the stockholders of SPAC relating to the meeting of SPAC's stockholders (the "***SPAC Stockholders' Meeting***") to be held to consider approval and adoption of (i) this Agreement and the Merger (the "***SPAC Merger Proposal***"), (ii) any other proposals reasonably agreed by SPAC and the Company to be necessary or appropriate in connection with the Merger, (iii) any other proposals as the SEC (or staff member thereof) may indicate are necessary in its comments to the Registration Statement or correspondence related thereto and (iv) adjournment of the SPAC Stockholders' Meeting, if necessary, to permit further solicitation of proxies because there are not sufficient votes to approve and adopt any of the foregoing (collectively, the "***SPAC Proposals***") and (2) a prospectus covering the registration under the Securities Act of the issuance by the Company of the Company Shares and Company Warrants in the Merger. SPAC and the Company each shall use their reasonable best efforts to (A) cause the Registration Statement when filed with the SEC to comply in all material respects with all legal requirements applicable thereto, (B) respond as promptly as reasonably practicable to and resolve all comments received from the SEC concerning the Registration Statement, (C) cause the Registration Statement to be declared effective under the Securities Act as promptly as practicable and (D) keep the Registration Statement effective as long as is necessary to consummate the Transactions. As promptly as practicable after the date on which the Registration Statement is declared effective by the SEC, SPAC shall mail the Proxy Statement to its stockholders. Each of SPAC, the Company and Merger Sub shall furnish all information concerning itself, its subsidiaries, officers, directors, managers, shareholders, and other equity holders and information regarding such other matters as may reasonably be requested in connection with such actions and the preparation of the Registration Statement or any other statement, filing, notice or application made by or on behalf of SPAC, the Company or their respective affiliates to any regulatory authority (including the New York Stock Exchange) in connection with the Transactions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) No filing of, or amendment or supplement to, the Registration Statement will be made by the Company without the approval of SPAC (such approval not to be unreasonably withheld, conditioned or delayed). The Company will advise SPAC, promptly after receipt of notice thereof, of the issuance of any stop order, or the suspension of the qualification of the Company Shares to be issued or issuable to the stockholders of SPAC in connection with this Agreement for offering or sale in any jurisdiction or of any request by the SEC for amendment of the Registration Statement or comments thereon and responses thereto or requests by the SEC for additional information. SPAC will advise the Company, promptly after receipt of notice thereof, if there is notification of an Action pending or threatened in writing against SPAC by the New York Stock Exchange or the SEC with respect to the registration of the SPAC Units, the shares of Class A Common Stock or SPAC Warrants or to terminate the listing of SPAC on the New York Stock Exchange. Each of SPAC and the Company shall cooperate and mutually agree upon (such agreement not to be unreasonably withheld or delayed) any response to comments of the SEC or its staff with respect to the Registration Statement and any amendment to the Registration Statement filed in response thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) SPAC represents that the information supplied by SPAC for inclusion in the Registration Statement shall not, at (i) the time the Registration Statement is declared effective, (ii) the time the Proxy Statement (or any amendment thereof or supplement thereto) is first mailed to the stockholders of SPAC, (iii) the time of the SPAC Stockholders' Meeting and (iv) the Closing, contain any untrue statement of a material fact or fail to state any material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. If, at any time prior to the Closing, any event or circumstance relating to SPAC or its officers or directors, should be discovered by SPAC which should be set forth in an amendment or a supplement to the Registration Statement, SPAC shall promptly inform the Company. All documents that SPAC is responsible for filing with the SEC in connection with the Transactions will comply as to form and substance in all material respects with the applicable requirements of the Securities Act and the rules and regulations thereunder and the Exchange Act and the rules and regulations thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Company and Merger Sub represent that the information supplied by the Company or Merger Sub for inclusion in the Registration Statement shall not, at (i) the time the Registration Statement is declared effective, (ii) the time the Proxy Statement (or any amendment thereof or supplement thereto) is first mailed to the stockholders of SPAC, (iii) the time of the SPAC Stockholders' Meeting, and (iv) the Closing, contain any untrue statement of a material fact or fail to state any material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. Without limiting the foregoing, SPAC shall use reasonable best efforts to ensure that the Proxy Statement does not, as of the date on which it is distributed to SPAC's stockholders, and as of the date of the SPAC Stockholders' Meeting, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading (*provided*, that SPAC shall not be responsible for the accuracy or completeness of any information relating to the Company or Merger or any other information furnished in writing by the Company for inclusion in the Registration Statement). If, at any time prior to the Closing, any event or circumstance relating to the Company or Merger Sub or its respective officers and directors, should be discovered by the Company or Merger Sub which should be set forth in an amendment or a supplement to the Registration Statement, the Company or Merger Sub shall promptly inform SPAC. All documents that the Company is responsible for filing with the SEC in connection with the Transactions will comply as to form and substance in all material respects with the applicable requirements of the Securities Act and the rules and regulations thereunder and the Exchange Act and the rules and regulations thereunder.

Section 7.2 <u>SPAC Stockholders' Meetings</u>. SPAC shall call and hold the SPAC Stockholders' Meeting as promptly as practicable following the Registration Statement being declared effective by the SEC for the purpose of voting solely upon the SPAC Proposals; *provided*, that SPAC may postpone or adjourn the SPAC Stockholders' Meeting on one or more occasions for up to thirty (30) days in the aggregate upon the good faith determination by the SPAC Board that such postponement or adjournment is necessary to solicit additional proxies to obtain approval of the SPAC Proposals or otherwise take actions consistent with SPAC's obligations pursuant to <u>Section 7.8</u>. SPAC shall use its reasonable best efforts to obtain the approval of the SPAC Proposals at the SPAC Stockholders' Meeting, including by soliciting from its stockholders proxies as promptly as possible in favor of the SPAC Proposals, and shall take all other action necessary or advisable to secure the required vote or consent of its stockholders. Notwithstanding anything herein to the contrary, if the SPAC Board or any committee thereof, after consultation with outside legal counsel, determines in good faith that failure to withdraw or modify its recommendation that its stockholders approve the SPAC Proposals would be reasonably likely to be inconsistent with its fiduciary duties to SPAC stockholders under applicable Law, then the SPAC Board may withdraw or modify its recommendation in the Registration Statement (a "***Change in Recommendation***"); *provided, however*, the SPAC Board will not be entitled to make, or agree or resolve to make, a Change in Recommendation unless (i) SPAC has provided at least four (4) Business Days' prior written notice to the Company advising that the SPAC Board proposes to take such action and which notice contains the material facts underlying the SPAC Board's determination to make, or agree or resolve to make, a Change in Recommendation (a "***Change in Recommendation Notice***"), (ii) during such four (4) Business Day period following the Company's receipt of a Change in Recommendation Notice, the SPAC Board has engaged in good faith negotiations with the Company and its Representatives (to the extent that the Company desires to so negotiate) to make such adjustments (which adjustments, to the extent accepted by the SPAC Board, would be binding on the Company) in the terms and conditions of this Agreement so as to obviate the need for a Change in Recommendation and (iii) following expiration of such four (4) Business Day period, the SPAC Board reaffirms in good faith, after consultation with its outside legal counsel, that the failure to make a Change in Recommendation would be reasonably likely to be inconsistent with its fiduciary duties to SPAC Stockholders under applicable Law, *provided, further*, that SPAC Board shall not be entitled to exercise its rights to make a Change in Recommendation pursuant to this <u>Section 7.2</u> as a result of an offer, proposal or inquiry relating to any merger, sale of ownership interests and/or assets, recapitalization or similar transaction involving SPAC. SPAC agrees that its obligation to establish a record date for, duly call, give notice of, convene and hold the SPAC Stockholders' Meeting for the purpose of seeking approval from SPAC Stockholders shall not be affected by any Change in Recommendation, and SPAC agrees to establish a record date for, duly call, give notice of, convene and hold the SPAC Stockholders' Meeting and submit for the approval of its stockholder the matters contemplated by the Proxy Statement as contemplated by this <u>Section 7.2</u>, regardless of whether there shall have occurred any Change in Recommendation.

Section 7.3 <u>Access to Information; Confidentiality</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) From the date of this Agreement until the Closing (or the earlier termination of this Agreement), the Company and SPAC shall (and shall cause their respective subsidiaries to): (i) provide to the other party (and the other party's officers, directors, employees, accountants, consultants, legal counsel, agents and other representatives, collectively, "***Representatives***") reasonable access at reasonable times upon prior notice to the officers, employees, agents, properties, offices and other facilities of such party and its subsidiaries and to the books and records thereof; and (ii) furnish promptly to the other party such information concerning the business, properties, Contracts, assets, liabilities, personnel and other aspects of such party and its subsidiaries as the other party or its Representatives may reasonably request. Notwithstanding the foregoing, neither the Company nor SPAC shall be required to provide access to or disclose information where the access or disclosure would jeopardize the protection of attorney-client privilege or contravene applicable Law or Contract (it being agreed that the parties shall use their reasonable best efforts to cause such information to be provided in a manner that would not result in such jeopardy or contravention).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All information obtained by the parties pursuant to this <u>Section 7.3</u> shall be kept confidential in accordance with the mutual confidentiality agreement, dated August 19, 2022 (the "***Confidentiality Agreement***"), between SPAC and the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding anything in this Agreement to the contrary, each party (and its Representatives) may consult any tax advisor regarding the tax treatment and tax structure of the Transactions and may disclose to any other person, without limitation of any kind, the tax treatment and tax structure of the Transactions and all materials (including opinions or other tax analyses) that are provided relating to such treatment or structure, in each case in accordance with the Confidentiality Agreement.

Section 7.4 <u>Exclusivity</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) From the date of this Agreement and ending on the earlier of (i) the Closing and (ii) the termination of this Agreement, the Company shall not, and shall cause the Company Subsidiaries and shall use reasonable best efforts to cause its and their respective Representatives not to, directly or indirectly, (A) enter into, solicit, initiate or continue any discussions or negotiations with, or knowingly encourage or respond to any inquiries or proposals by, or participate in any negotiations with, or provide any information to, or otherwise cooperate in any way regarding a Company Acquisition Proposal (as defined herein), (B) enter into any agreement regarding, continue or otherwise participate in any discussions regarding, or furnish to any person any information with respect to, or cooperate in any way that would otherwise reasonably be expected to lead to, any Company Acquisition Proposal or (C) commence, continue or renew any due diligence investigation regarding any Company Acquisition Proposal; *provided*, that the execution, delivery and performance of this Agreement and the Transaction Documents and the consummation of the Transactions shall not be deemed a violation of this <u>Section 7.4</u>. The Company shall, and shall cause the Company Subsidiaries and shall use reasonable best efforts to cause its and their respective affiliates and Representatives to, immediately cease any and all existing discussions or negotiations with any person conducted heretofore with respect to any Company Acquisition Proposal. The Company also agrees that it will promptly request each person (other than the parties hereto and their respective Representatives) that has prior to the date hereof executed a confidentiality agreement in connection with its, his or her consideration of a Company Acquisition Proposal to return or destroy all Confidential Information furnished to such person by or on behalf of it, him or her prior to the date hereof. For purposes hereof, "***Company Acquisition Proposal***" means any inquiry, proposal or offer concerning the sale of any material assets of the Company or any Company Subsidiary outside the ordinary course of business or any of the Equity Securities of the Company or any Company Subsidiary or any merger, consolidation, liquidation, recapitalization, share exchange or other business combination transaction involving the Company or any Company Subsidiary, in each case excluding the Convertible Financing and the PIPE Financing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) From the date of this Agreement and ending on the earlier of (i) the Closing and (ii) the termination of this Agreement, SPAC shall not, and shall use reasonable best efforts to cause SPAC Representatives not to, directly or indirectly, (A) enter into, solicit, initiate or continue any discussions or negotiations with, or knowingly encourage or respond to any inquiries or proposals by, or participate in any negotiations with, or provide any information to, or otherwise cooperate in any way regarding a SPAC Acquisition Proposal (as defined herein), (B) enter into any agreement regarding, continue or otherwise participate in any discussions regarding, or furnish to any person any information with respect to, or cooperate in any way that would otherwise reasonably be expected to lead to, any SPAC Acquisition Proposal or (C) commence, continue or renew any due diligence investigation regarding any SPAC Acquisition Proposal; *provided*, that the execution, delivery and performance of this Agreement and the Transaction Documents and the consummation of the Transactions shall not be deemed a violation of this <u>Section 7.4</u>. SPAC shall, and shall use reasonable best efforts to cause its respective affiliates and Representatives to, immediately cease any and all existing discussions or negotiations with any person conducted heretofore with respect to any SPAC Acquisition Proposal. SPAC also agrees that it will promptly request each person (other than the parties hereto and their respective Representatives) that has prior to the date hereof executed a confidentiality agreement in connection with its, his or her consideration of a SPAC Acquisition Proposal to return or destroy all Confidential Information furnished to such person by or on behalf of it, him or her prior to the date hereof. For purposes hereof, "***SPAC Acquisition Proposal***" means any direct or indirect acquisition (or other business combination), in one or a series of related transactions, by SPAC (x) of or with any person or entity or (y) of all or a material portion of the assets, Equity Securities or businesses of any person or entity (in the case of each of <u>clauses (x)</u> and <u>(y)</u>, whether by merger, consolidation, recapitalization, purchase or issuance of Equity Securities, tender offer or otherwise).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In addition to the other obligations under this <u>Section 7.4</u>, if any party or any of their respective Representatives receives any inquiry or proposal with respect to a Company Acquisition Proposal or a SPAC Acquisition Proposal, as applicable, at any time prior to the Closing, then such party shall promptly (and in no event later than twenty-four (24) hours after becoming aware of such inquiry or proposal) notify such person in writing that the party is subject to an exclusivity agreement that prohibits it from considering such inquiry or proposal, and will provide the other party with the non-confidential material terms of such inquiry or proposal.

Section 7.5 <u>Employee Benefits Matters</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Prior to the filing of the definitive Proxy Statement, the Company shall adopt an equity incentive award plan with an initial award pool of Company Shares expected to be equal to seven and a half percent (7.5%) of Fully Diluted Common Stock (as defined herein), rounded up to the nearest whole share, which shall be based upon benchmarking against peer companies in consultation with an independent compensation consultant, which plan shall be effective at and after the Closing in substantially the form proposed by the Company and as approved by SPAC, such approval not to be unreasonably withheld or delayed (the "***2023 Equity Incentive Plan***"). For purposes of this Agreement, "***Fully Diluted Common Stock***" means, immediately after the Closing, the aggregate number of (i) Company Shares and (ii) securities convertible into or exercisable for Company Shares (whether vested or unvested).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The provisions of this <u>Section 7.5</u> are solely for the benefit of the parties to the Agreement, and nothing contained in this Agreement, express or implied, shall confer upon any employee or legal representative or beneficiary or dependent thereof, or any other person, any rights or remedies of any nature or kind whatsoever under or by reason of this Agreement, whether as a third-party beneficiary or otherwise, including any right to employment or continued employment for any specified period, or level of compensation or benefits. Nothing contained in this Agreement, express or implied, shall constitute an amendment or modification of any employee benefit plan of the Company or shall require the Company, Merger Sub and SPAC and each of its subsidiaries to continue any Plan or other employee benefit arrangements, or prevent their amendment, modification or termination.

Section 7.6 <u>Directors' and Officers' Indemnification</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Following the Closing, the organizational documents of the Company, the Company Subsidiaries and SPAC shall contain provisions no less favorable with respect to indemnification, advancement or expense reimbursement than are set forth in their respective organizational documents as of the date hereof, which provisions shall not be amended, repealed or otherwise modified for a period of six (6) years from the Closing Date in any manner that would affect adversely the rights thereunder of individuals who, at or prior to the Closing Date, were directors, officers, employees, fiduciaries or agents of the Company, the Company Subsidiaries or SPAC, unless such modification shall be required by applicable Law. For a period of six (6) years from the Closing, the Company agrees that it shall defend, indemnify and hold harmless each present and former director and officer of the Company, the Company Subsidiaries and SPAC against any costs or expenses (including reasonable attorneys' fees), judgments, fines, losses, claims, damages or liabilities incurred in connection with any claim, action, suit, proceeding or investigation, whether civil, criminal, administrative or investigative, arising out of or pertaining to matters existing or occurring at or prior to the Closing, whether asserted or claimed prior to, at or after the Closing, to the fullest extent permitted under applicable Law and the applicable organizational documents of the Company, the Company Subsidiaries and SPAC, as of the date hereof (including the advancing of expenses as incurred to the fullest extent permitted under applicable Law and the applicable organizational documents of the Company, the Company Subsidiaries and SPAC, as applicable, as of the date hereof). For the avoidance of doubt, to the extent the foregoing indemnification and advancement obligation arises under applicable Law or this Agreement but not the applicable organizational documents of the Company, the Company Subsidiaries or SPAC, as applicable, the Company shall have no obligation to indemnify or advance expenses to the extent it is determined by final adjudication in the underlying action for which indemnification or advancement of expenses is sought that such individual did not act in good faith or in a manner which the person reasonably believed to be in or not opposed to the best interests of the entity for which such individual is or was serving as a director or officer, or, with respect to any criminal action or proceeding, such individual had no reasonable cause to believe the individual's conduct was lawful.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) On the Closing Date, the Company shall (i) enter into customary indemnification agreements reasonably satisfactory to the Company with the directors and officers of the Company, which indemnification agreements shall continue to be effective following the Closing, and (ii) assume all rights and obligations of SPAC under all indemnification agreements then in effect between SPAC and any person who is or was a director or officer of SPAC prior to the Effective Time and that have been made available to the Company prior to the date hereof (*provided*, that any such indemnification agreements that are entered into following the date hereof shall be in substantially the same form as such indemnification agreements in effect on the date hereof), which indemnification agreements shall continue to be effective following the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Company shall on and after the Closing Date, for a period of no less than six (6) years, maintain directors' and officers' liability insurance ("***D&O Insurance***") with full, continuous prior acts coverage for pre-Closing acts, errors or omissions; and the Company shall purchase and maintain public company D&O Insurance for post-Closing acts, errors, or omissions for as long as it remains a public company. Such coverages shall be in a commercially reasonable amount and with commercially reasonable terms, but in no case in an amount lower or coverage terms narrower than that provided under the Company's and SPAC's respective D&O insurance just prior to the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Prior to or in connection with the Closing, SPAC or the Company shall purchase a prepaid "tail" policy (a "***SPAC Tail Policy***") with respect to the D&O Insurance covering those persons who are currently covered by SPAC's directors' and officers' liability insurance policy as of immediately prior to the Closing. The Company shall maintain such SPAC Tail Policy in full force and effect for a period of no less than six (6) years after the Closing and continue to honor its obligations thereunder.

Section 7.7 <u>Notification of Certain Matters</u>. The Company and Merger Sub shall give prompt notice to SPAC, and SPAC shall give prompt notice to the Company and Merger Sub of any event which a party becomes aware of between the date of this Agreement and the Closing (or the earlier termination of this Agreement in accordance with <u>Article IX)</u>, the occurrence, or non-occurrence of which causes or would reasonably be expected to cause any of the conditions set forth in <u>Article VIII</u> to fail to be satisfied at the Closing.

Section 7.8 <u>Further Action; Reasonable Best Efforts</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Upon the terms and subject to the conditions of this Agreement, each of the parties hereto shall use its reasonable best efforts to take, or cause to be taken, appropriate action, and to do, or cause to be done, such things as are necessary, proper or advisable under applicable Laws or otherwise to consummate and make effective the Transactions, including using its reasonable best efforts to obtain all permits, consents, approvals, authorizations, qualifications and orders of Governmental Authorities and parties to Contracts with the Company and the Company Subsidiaries as set forth in <u>Section 4.5</u> necessary for the consummation of the Transactions. In case, at any time after the Closing, any further action is necessary or desirable to carry out the purposes of this Agreement, the proper officers and directors of each party shall use their reasonable best efforts to take all such action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each of the parties shall keep each other apprised of the status of matters relating to the Transactions, including promptly notifying the other parties of any communication it or any of its affiliates receives from any Governmental Authority relating to the matters that are the subject of this Agreement and permitting the other parties to review in advance, and to the extent practicable consult about, any proposed communication by such party to any Governmental Authority in connection with the Transactions. No party to this Agreement shall agree to participate in any meeting with any Governmental Authority in respect of any filings, investigation or other inquiry unless it consults with the other parties in advance and, to the extent permitted by such Governmental Authority, gives the other parties the opportunity to attend and participate at such meeting. Subject to the terms of the Confidentiality Agreement, the parties will coordinate and cooperate fully with each other in exchanging such information and providing such assistance as the other parties may reasonably request in connection with the foregoing. Subject to the terms of the Confidentiality Agreement, the parties will provide each other with copies of all material correspondence, filings or communications, including any documents, information and data contained therewith, between them or any of their Representatives, on the one hand, and any Governmental Authority or members of its staff, on the other hand, with respect to this Agreement and the Transactions contemplated hereby. No party shall take or cause to be taken any action before any Governmental Authority that is inconsistent with or intended to delay its action on requests for a consent or the consummation of the Transactions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) From the date of the announcement of this Agreement until the Closing Date or earlier termination of this Agreement, SPAC and the Company shall use their reasonable best efforts to, and shall instruct their financial advisors to, keep the other party and its financial advisors reasonably informed with respect to the Convertible Financing and the PIPE Financing, including by (i) providing regular updates and (ii) consulting and cooperating with, and considering in good faith any feedback from the other party or its financial advisors with respect to such matters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Notwithstanding the generality of the foregoing, the Company and Nabors shall use their respective reasonable best efforts to consummate (i) the Convertible Financing in accordance with the Notes Subscription Agreement and any Additional Notes Subscription Agreements and (ii) the PIPE Financing in accordance with the Equity Subscription Agreements and any Additional Equity Subscription Agreements. The Company shall not, without the prior written consent of SPAC (such consent not to be unreasonably withheld, conditioned or delayed), permit or consent to any amendment, supplement, modification or termination of any Notes Subscription Agreement, Additional Notes Subscription Agreement, Equity Subscription Agreement or Additional Equity Subscription Agreement (collectively, the "***Financing Agreements***") that would reasonably be expected to delay, the consummation of the Convertible Financing or PIPE Financing, as applicable, or prevent or reduce the amounts payable thereunder. Without limiting the generality of the foregoing, the Company shall give SPAC, prompt (and, in any event within three (3) Business Days) written notice: (i) of any amendment to any Financing Agreement (together with a copy of such amendment); (ii) of any breach or default (or any event or circumstance that, with or without notice, lapse of time or both, could give rise to any breach or default) by any party to any Financing Agreement known to the Company; (iii) of the receipt of any written notice or other written communication from any party to any Financing Agreement with respect to any actual, potential or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation by any party to any Financing Agreement or any terms or provisions of any Financing Agreement; and (iv) if the Company does not expect to receive all or any portion of the Convertible Financing or PIPE Financing on the terms, in the manner or from the sources contemplated by the applicable Financing Agreement. The Company shall use its reasonable best efforts to enforce its rights under the Financing Agreements in the event that all conditions in the Financing Agreements (other than conditions whose satisfaction is controlled by the parties to this Agreement or any of their affiliates and other than conditions that by their nature are to be satisfied at the Closing) have been satisfied, to cause the applicable investors to pay the applicable portion of the Convertible Financing or PIPE Financing set forth in the applicable Financing Agreements in accordance with their terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Company shall not, without the prior written consent of SPAC (such consent not to be unreasonably withheld, conditioned or delayed), permit or consent to any amendment, assignment, supplement, modification or termination of the MEP Deed, the MEP De-SPAC Side Deed or the Noteholder Support and Loan Termination Agreement. The Company shall give SPAC prompt (and, in any event within three (3) Business Days) written notice: (i) of any breach or default (or any event or circumstance that, with or without notice, lapse of time or both, could give rise to any breach or default) by any party to the MEP Deed, the MEP De-SPAC Side Deed or the Noteholder Support and Loan Termination Agreement, as applicable, known to the Company; and (ii) of the receipt of any written notice or other written communication from any party to the MEP Deed, the MEP De-SPAC Side Deed or the Noteholder Support and Loan Termination Agreement, as applicable, with respect to any actual, potential or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation by any party to the MEP Deed, the MEP De-SPAC Side Deed or the Noteholder Support and Loan Termination Agreement, as applicable, or any terms or provisions of the MEP Deed, the MEP De-SPAC Side Deed or the Noteholder Support and Loan Termination Agreement, as applicable. The Company shall use its reasonable best efforts to enforce its rights under the Noteholder Support and Loan Termination Agreement to cause the Existing Convertible Note Conversion to be consummated prior to the Closing.

Section 7.9 <u>Public Announcements</u>. The initial press release relating to this Agreement shall be a joint press release the text of which has been agreed to by each of SPAC and the Company. Thereafter, between the date of this Agreement and the Closing Date (or the earlier termination of this Agreement in accordance with <u>Article IX)</u> unless otherwise prohibited by applicable Law or the requirements of the New York Stock Exchange, each of SPAC and the Company shall consult with the other before issuing any press release or otherwise making any public statements with respect to this Agreement or any of the Transactions, and shall not issue any such press release or make any such public statement without the prior written consent of the other party; *provided*, *however*, that the foregoing shall not prevent or prohibit a party from making any filings or disclosures that a party, upon the advice of counsel, determines are required to be made under the Securities Act or Exchange Act or the rules or regulations of the New York Stock Exchange or other applicable Laws; *provided*, *further*, that in such an event, the party making such filing or disclosure shall use its reasonable best efforts to consult with the other party in advance as to its form, content and timing.

Section 7.10 <u>Certain Tax Matters</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The parties hereto shall (and shall cause their respective affiliates to) reasonably cooperate with one another in providing information with respect to the Transactions that is reasonably requested by one another and reasonably necessary to enable the parties hereto to (i) determine the U.S. federal income tax treatment of the Transactions to holders of Class A Common Stock, Founder Shares or SPAC Warrants, (ii) prepare disclosure in the Registration Statement regarding such U.S. federal income tax treatment, (iii) prepare U.S. federal income Tax Returns reporting relevant portions of the Transactions consistent with the U.S. federal income tax treatment as mutually agreed by the parties hereto and (iv) respond to requests in connection with any audits, examinations or other proceedings before the IRS relating to the U.S. federal income tax treatment of relevant portions of the Transactions. While the parties hereto do not anticipate that any opinion of counsel with respect to Tax matters will be required to be rendered in connection with the Transactions, the parties hereto agree that in no event will counsel to a party hereto be required to render an opinion regarding the Tax consequences or considerations of any person other than its client or such client's shareholders or warrantholders immediately prior to the Transactions in their capacity as such.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any transfer, documentary, sales, use, stamp, registration, excise, recording, registration value added and other similar Taxes (including, for the avoidance of doubt, any Taxes imposed under Section 4501 of the Code (as amended by the Inflation Reduction Act of 2022, H.R. 5376) ("***Stock Buyback Tax***")) (collectively, "***Transfer Taxes***") that become payable by any of the parties hereto in connection with or by reason of the execution of this Agreement and the Transactions shall be borne by the Company. The party hereto responsible for filing any necessary Tax Returns with respect to Transfer Taxes under applicable Law shall cause such Tax Returns to be filed, and if required by applicable Law, the other parties hereto shall join in the execution of any such Tax Returns.

Section 7.11 <u>CGT Withholding Amount</u>. For the purposes of Subsection 14-225(1) of Schedule 1 of the *Taxation Administration Act 1953* (Cth), each Company Shareholder declares, for the period beginning from the date of this Agreement until the Effective Time, the Company Shares are not "indirect Australian real property interests."

Section 7.12 <u>Stock Exchange Listing</u>. From the date hereof through the Closing, SPAC will use its reasonable best efforts to remain listed as a public company on the New York Stock Exchange and to cause shares of Class A Common Stock to continue trading on the New York Stock Exchange. From the date hereof through the Closing, the parties shall use reasonable best efforts to have the Company and the Company Shares be approved for listing on the New York Stock Exchange as of the Closing; *provided*, that, if the Company does not meet the initial listing requirements of the New York Stock Exchange after giving effect to the Redemption Rights of the SPAC's public stockholders, the parties shall use reasonable best efforts to have the Company and the Company Shares be approved for listing on the NYSE American securities exchange or another national securities exchange mutually agreed to by the parties in writing.

Section 7.13 <u>Antitrust</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The parties hereto agree to supply as promptly as reasonably practicable additional information and documentary material that may be requested by any Governmental Authority pursuant to any Laws that are designed to prohibit, restrict or regulate actions having the purpose or effect of monopolization or restraint of trade ("***Antitrust Laws***") and to use its respective reasonable best efforts to take all other actions necessary, proper or advisable to cause the expiration or termination of the applicable waiting periods or obtain required approvals, as applicable under Antitrust Laws as soon as practicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each party shall, in connection with its reasonable best efforts to obtain all requisite approvals and authorizations for the Transactions under any Antitrust Law, use its reasonable best efforts to: (i) cooperate in all respects with each other party or its affiliates in connection with any filing or submission and in connection with any investigation or other inquiry, including any proceeding initiated by a private person; (ii) keep the other parties promptly informed of any communication received by such party or its Representatives from, or given by such party or its Representatives to, any Governmental Authority and of any communication received or given in connection with any proceeding by a private person, in each case regarding any of the Transactions; (iii) permit the other parties and their respective outside counsel to review in advance any communication given by it to any Governmental Authority concerning the Transactions, consider in good faith the views of the other in connection with any proposed written communications by such party to any Governmental Authority concerning the Transactions, and consult with each other in advance of any meeting or conference with, any Governmental Authority or, in connection with any proceeding by a private person, with any other person, and to the extent not prohibited by such Governmental Authority or other person, give the other parties the opportunity to attend and participate in such meetings and conferences; (iv) in the event a party is prohibited from participating in or attending any meetings or conferences, the other parties shall keep such party promptly and reasonably apprised with respect thereto; and (v) use reasonable best efforts to cooperate in the filing of any memoranda, white papers, filings, correspondence or other written communications explaining or defending the Transactions, articulating any regulatory or competitive argument, and/or responding to requests or objections made by any Governmental Authority. Materials required to be provided pursuant to this <u>Section 7.13(b)</u> may be restricted to outside counsel and redacted (A) to remove references concerning the valuation of the Company, (B) as necessary to comply with contractual arrangements, and (C) as necessary to address attorney-client privilege concerns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) No party hereto shall take any action that would reasonably be expected to adversely affect or materially delay the approval of any Governmental Authority of any required filings or applications under Antitrust Laws, including that SPAC shall not acquire or agree to acquire by merging or consolidating with, or by purchasing a substantial portion of the assets of or equity in, or by any other manner, any person or portion thereof, or otherwise acquire or agree to acquire any assets, if such acquisition or agreement would reasonably be expected to delay obtaining or significantly increase the risk of not obtaining, any authorizations, consents, orders, declarations or approvals of any Governmental Authority necessary to consummate the Transactions or the expiration or termination of any applicable waiting period. The parties hereto further covenant and agree, with respect to a threatened or pending preliminary or permanent injunction or other order, decree or ruling or statute, rule, regulation or executive order that would adversely affect the ability of the parties to consummate the Transactions, to use reasonable best efforts to prevent or lift the entry, enactment or promulgation thereof, as the case may be.

Section 7.14 <u>PCAOB Financial Statements</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company shall, as soon as reasonably practicable following the date of this Agreement (and in no event more than forty-five (45) days following the date of this Agreement with respect to clause (i)) deliver to SPAC final drafts, subject only to final approval, noting any subsequent events that may occur between delivery thereof and execution by the Company's independent auditors, of (i) the audited consolidated balance sheet of the Company and the Company Subsidiaries as of June 30, 2021 and June 30, 2022, and the related audited consolidated statements of operations and cash flows of the Company and the Company Subsidiaries for each of the two (2) fiscal years ended June 30, 2021 and June 30, 2022, each audited in accordance with the auditing standards of the PCAOB (collectively, the "***PCAOB Audited Financial Statements***"), (ii) the reviewed consolidated balance sheet of the Company and the Company Subsidiaries as of December 31, 2022, and the related reviewed consolidated statements of operations and cash flows of the Company and the Company Subsidiaries for the six-month period then ended, each reviewed in accordance with the PCAOB (the "***PCAOB Reviewed Financial Statements***") and (iii) any other audited or reviewed financial statements of the Company or any of the Company Subsidiaries that are required by applicable Law to be included in the Registration Statement (together with the PCAOB Audited Financial Statements and the PCAOB Reviewed Financial Statements, the "***PCAOB Financial Statements***"); *provided*, that upon delivery of such PCAOB Financial Statements as and when such PCAOB Financial Statements have been signed by the Company's independent auditors in connection with the filing of the Registration Statement, the representations and warranties set forth in <u>Sections 4.8(a)</u> and <u>4.8(b)</u> shall be deemed to apply to the PCAOB Financial Statements with the same force and effect as if made as of the date of this Agreement. In addition, the Company shall use reasonable best efforts to deliver to SPAC true and complete copies of any additional audited or reviewed financial statements of the Company and the Company Subsidiaries for each period required to be included in any amendment or supplement to the Registration Statement as requested by SPAC or as soon as practicable prior to the due date for filing any such amendment or supplement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company shall use its reasonable best efforts to provide to SPAC, promptly after the preparation thereof, true and complete copies of monthly unaudited consolidated balance sheets of the Company and the Company Subsidiaries and the related reviewed consolidated statements of operations and cash flows (or equivalent financial statements, as applicable) of the Company and the Company Subsidiaries, to the extent such financial statements are prepared following the date of this Agreement.

Section 7.15 <u>Trust Account</u>. As of the Closing, the obligations of SPAC to dissolve or liquidate within a specified time period as contained in the SPAC Certificate of Incorporation will be terminated and SPAC shall have no obligation whatsoever to dissolve and liquidate the assets of SPAC by reason of the consummation of the Transactions or otherwise, and no stockholder of SPAC shall be entitled to receive any amount from the Trust Account. At least 72 hours prior to the Closing, SPAC shall provide notice to the Trustee in accordance with the Trust Agreement and shall deliver any other documents, opinions or notices required to be delivered to the Trustee pursuant to the Trust Agreement and cause the Trustee prior to the Closing to, and the Trustee shall thereupon be obligated to, transfer all funds held in the Trust Account to SPAC (to be held as available cash on the balance sheet of SPAC, and to be used (a) to pay the Company's and SPAC's unpaid Outstanding SPAC Transaction Expenses and Outstanding Company Transaction Expenses in connection with this Agreement and the Transactions, (b) if applicable, subject to <u>Section 7.16</u>, to pay the Sponsor or cause the Sponsor to be repaid the Extension Amount in accordance with <u>Section 9.3</u>, and (c) thereafter, for working capital and other general corporate purposes of the business following the Closing) and thereafter shall cause the Trust Account and the Trust Agreement to terminate.

Section 7.16 <u>Extension</u>. The Company and SPAC agree that, if the Transactions are not consummated by February 18, 2023 and this Agreement has not otherwise been terminated in accordance with its terms, the Sponsor shall deposit, or cause to be deposited, the Extension Amount into the Trust Account in exchange for a non-interest bearing, unsecured promissory note in order to extend the SPAC's deadline to complete its initial business combination by three (3) months to May 18, 2023. To the extent the condition contained in <u>Section 8.3(f)</u> is not satisfied at a time when all other conditions in <u>Article VIII</u> are then satisfied or waived (other than those conditions that by their nature are to be satisfied at the Closing, it being understood that the occurrence of the Closing shall remain subject to the satisfaction or, if permissible, waiver of such conditions at the Closing), the Sponsor shall accept, or cause any affiliate depositing the Extension Amount into the Trust Account to accept, SPAC Warrants in repayment of the promissory note contemplated by this <u>Section 7.16</u>, solely to the extent necessary to cause the condition in <u>Section 8.3(f)</u> to be satisfied. If the Transactions are not consummated by May 18, 2023 and this Agreement has not otherwise been terminated in accordance with its terms, SPAC will prepare and file with the SEC a proxy statement pursuant to which it will seek approval to extend the time period for SPAC to consummate its initial business combination to at least August 18, 2023 (the "***Extension Proposal***"). The Company and its counsel shall be given a reasonable opportunity to review and comment on the proxy statement and any supplement or amendment thereto. As promptly as practical after the proxy statement is cleared by the SEC, SPAC will disseminate the proxy statement to the stockholders of SPAC in compliance with applicable Laws, duly give notice of, convene and hold a meeting of its stockholders, and solicit proxies from the stockholders of SPAC to vote in favor of the Extension Proposal.

Section 7.17 <u>Post-Closing Directors and Officers of the Company.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The parties hereto shall take all such action within their power as may be necessary or appropriate such that effective immediately following the Effective Time, pursuant to the Company Constitution, the initial members of the Company Board immediately after the Closing shall be (A) one (1) member to be selected by the Sponsor who shall be "independent" for the purposes of the SEC and New York Stock Exchange (or such other national securities exchange on which the Company Shares are listed immediately after Closing) listing rules and (B) six (6) members to be selected by the Company, one of whom shall be the current Chief Executive Officer of the Company and such number of whom shall be "independent" as required by applicable SEC and New York Stock Exchange (or such other national securities exchange on which the Company Shares are listed immediately after Closing) listing rules. The initial members of any compensation committee, audit committee and nominating committee of the Company Board immediately after the Closing shall be determined by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject to the above requirements, each of the Sponsor and the Company may replace any of its respective Company Board nominees with any individual prior to the filing of the definitive Proxy Statement with the SEC by written notice to the Company identifying such replacement individual.

Section 7.18 <u>Non-Solicitation</u>. Nabors and its controlled affiliates shall not, without the prior written consent of the Company, for a period of two (2) years beginning on the date hereof, directly or indirectly solicit for employment any employee of the Company or any Company Subsidiary. The Company shall not, and the Company shall cause each Company Subsidiary to not, without the prior written consent of Nabors, for a period of two (2) years beginning on the date hereof, directly or indirectly solicit for employment any employee of Nabors or any of its affiliates. Nothing in this <u>Section 7.18</u> shall prevent: (a) Nabors and its controlled affiliates from hiring or engaging any employee of the Company or a Company Subsidiary who responds to general solicitations for employment or engagement not specifically directed towards employees of the Company or a Company Subsidiary; or (b) the Company or any Company Subsidiary from hiring or engaging any employee of Nabors or any of its affiliates who responds to a general solicitation for employment or engagement not specifically directed towards employees of Nabors or any of its affiliates. The parties acknowledge and agree that the restrictions set forth in this <u>Section 7.18</u> are reasonable in all respects and reasonably necessary to facilitate the collaboration set forth in this Agreement, including the information sharing and access to personnel, that will result from this Agreement.

Section 7.19 <u>Compliance</u>. (a) Prior to the Closing, the Company will adopt and implement risk-based policies and procedures reasonably designed to ensure compliance with the Anti-Corruption Laws, which policies and procedures shall satisfy the internal controls provisions imposed on issuers by the FCPA, and (b) within 120 days following the Closing, the Company will adopt and implement risk-based policies and procedures reasonably designed to ensure compliance with the Sanctions Laws, International Trade Laws, and, to the extent reasonably necessary, any applicable requirements imposed under contracts described at <u>Section 4.17(a)(viii)</u>, in each case of (a) and (b), which policies and procedures shall be reasonably designed in accordance with industry best practices and U.S. governmental expectations.

Section 7.20 <u>Company Split Adjustment</u>. The Company shall reasonably consult with SPAC and its advisors concerning the Company Split Adjustment. The Company shall cause the Company Split Adjustment to be implemented prior to or concurrently with the Closing and shall deliver to SPAC copies of all documents effectuating and evidencing the same. The Company Split Adjustment shall be adjusted to reflect appropriately the effect of any stock split, reverse stock split, stock dividend, reorganization, recapitalization, reclassification, combination, exchange of shares or other like change, in each case with respect to Class A Common Stock and Founder Shares occurring on or after the date hereof and prior to the Company Split Adjustment.

Section 7.21 <u>Merger Sub Consent</u>. Promptly following the execution of this Agreement, the Company shall, as the sole stockholder of Merger Sub, approve and adopt this Agreement and approve the Transactions.

Section 7.22 <u>Related Party Approvals; Australian Disclosure Obligations</u>. (a) The Company shall procure all necessary approvals or pass a resolution confirming it falls within a relevant exemption under Chapter 2E of the Corporations Act with regard to any related party transactions that will occur as part of the Transactions, and (b) the Company shall submit any disclosure document required to be prepared and provided to potential investors under Chapter 6D of the Corporations Act.

**Article VIII** **.<br> CONDITIONS TO THE transactions**

Section 8.1 <u>Conditions to the Obligations of Each Party</u>. The obligations of the Company, Merger Sub and SPAC to consummate the Transactions are subject to the satisfaction or waiver (where permissible) at or prior to the Closing of the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>SPAC Stockholders' Approval</u>. The SPAC Merger Proposal shall have been approved and adopted by the requisite affirmative vote of the stockholders of SPAC in accordance with the Proxy Statement, the DGCL, the SPAC Organizational Documents and the rules and regulations of the New York Stock Exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>No Order</u>. No Governmental Authority of competent jurisdiction shall have enacted, issued, promulgated, enforced or entered any Law which is then in effect and has the effect of making the Transactions illegal or otherwise prohibiting consummation of the Transactions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Australian FIRB Approval</u>. If it is deemed by the parties after obtaining their own respective legal advice that a FIRB filing is required for the Transactions (noting that the parties shall cooperate to take reasonable steps to minimize the need for any FIRB filing):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) SPAC shall have received a written notice under the FATA, by or on behalf of the Treasurer of the Commonwealth of Australia stating or to the effect that the Commonwealth Government does not object to the Transactions, either unconditionally or on terms that are reasonably acceptable to SPAC and the Company (it being understood that the imposition of customary tax conditions or standard conditions relating to achieving a Security Profile 1 under the Australian Energy Sector Cyber Security Framework in connection with the FIRB approval shall be deemed acceptable);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Treasurer of the Commonwealth of Australia shall have become precluded from making an order in relation to the subject matter of this Agreement and the Transactions under the FATA; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) if an interim order is made under the FATA in respect of the Transactions, the subsequent period for making a final order prohibiting the Transactions shall have elapsed without a final order being made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Stock Exchange Listing</u>. The Company Shares shall have been approved for listing on the New York Stock Exchange (subject to the Closing occurring), or, if the Company does not meet the initial listing requirements of the New York Stock Exchange as of immediately prior to the Closing, the NYSE American securities exchange or another national securities exchange mutually agreed to by the parties in writing, as of the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Penny Stock</u>. The Company Shares shall not constitute "penny stock" as such term is defined in Rule 3a51-1 of the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Registration Statement</u>. The Registration Statement shall have been declared effective under the Securities Act. No stop order suspending the effectiveness of the Registration Statement shall be in effect, and no proceedings for purposes of suspending the effectiveness of the Registration Statement shall have been initiated or be threatened in writing by the SEC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Company Split Adjustment</u>. The Company Split Adjustment shall have been implemented.

Section 8.2 <u>Conditions to the Obligations of SPAC</u>. The obligations of SPAC to consummate the Transactions are subject to the satisfaction or waiver (where permissible) at or prior to the Closing of the following additional conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Representations and Warranties</u>. The representations and warranties of the Company and Merger Sub contained in <u>Section 4.1</u> (Organization and Qualification; Subsidiaries), <u>Section 4.3</u> (Capitalization) (other than <u>clauses (a)</u> through <u>(c)</u> thereof), <u>Section 4.4</u> (Authority Relative to this Agreement), <u>Section 4.5(a)(i)</u> (No Conflict; Required Filings and Consents), and <u>Section 4.24</u> (Brokers) shall each be true and correct in all material respects as of the date hereof and as of the Closing Date as though made on the Closing Date, except to the extent that any such representation and warranty expressly speaks as of an earlier date, in which case such representation and warranty shall be true and correct in all material respects as of such earlier date. The representations and warranties of the Company and Merger Sub contained in <u>Section 4.9(c)</u> (Absence of Certain Changes or Events) shall be true and correct in all respects as of the date hereof and as of the Closing Date. The representations and warranties of the Company and Merger Sub contained in <u>Section 4.3</u> (Capitalization) (other than <u>clauses (d)</u> through (i) thereof) shall be true and correct in all respects as of the date hereof and as of the Closing Date as though made on the Closing Date, except for *de minimis* inaccuracies set forth therein and except to the extent that any such representations and warranty expressly speaks of an earlier date, in which case such representations and warranty shall be true and correct except for *de minimis* inaccuracies as of such earlier date. All other representations and warranties of the Company and Merger Sub contained in this Agreement shall be true and correct (without giving any effect to any limitation as to "materiality" or "Company Material Adverse Effect" or any similar limitation set forth therein) as of the date hereof and as of the Closing Date, as though made on and as of the Closing Date, except (i) to the extent that any such representation and warranty expressly speaks as of an earlier date, in which case such representation and warranty shall be true and correct as of such earlier date and (ii) where the failure of such representations and warranties to be true and correct (whether as of the Closing Date or such earlier date), has not had, and would not be reasonably likely to have, individually or in the aggregate, a Company Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Agreements and Covenants</u>. Each of the Company and Merger Sub shall have performed or complied in all material respects with all agreements and covenants required by this Agreement to be performed or complied with by it on or prior to the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Officer Certificate</u>. The Company shall have delivered to SPAC a certificate, dated the date of the Closing, signed by an officer of the Company, certifying as to the satisfaction of the conditions specified in <u>Section 8.2(a)</u>, <u>Section 8.2(b)</u> and <u>Section 8.2(d)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Material Adverse Effect</u>. No Company Material Adverse Effect shall have occurred between the date of this Agreement and the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Shareholder and Registration Rights Agreement</u>. All parties to the Shareholder and Registration Rights Agreement (other than SPAC, the Sponsor and Nabors Lux 2) shall have delivered, or cause to be delivered, to SPAC copies of the Shareholder and Registration Rights Agreement duly executed by all such parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Existing Convertible Note Conversion</u>. The Existing Convertible Note Conversion shall have been consummated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>MEP Share Conversion</u>. The MEP Share Conversion shall have been consummated.

Section 8.3 <u>Conditions to the Obligations of the Company and Merger Sub</u>. The obligations of the Company and Merger Sub to consummate the Transactions are subject to the satisfaction or waiver (where permissible) at or prior to Closing of the following additional conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Representations and Warranties</u>. The representations and warranties of SPAC contained in <u>Section 5.1</u> (Corporation Organization), <u>Section 5.2</u> (Certificate of Incorporation and Bylaws), <u>Sections 5.3(b)</u> and <u>5.3(c)</u> (Capitalization), <u>Section 5.4</u> (Authority Relative to This Agreement), <u>Section 5.5(a)(i)</u> (No Conflict; Required Filings and Consents) and <u>Section 5.11</u> (Brokers) shall each be true and correct in all material respects as of the date hereof and as of the Closing Date as though made on the Closing Date, except to the extent that any such representation and warranty expressly speaks as of an earlier date, in which case such representation and warranty shall be true and correct in all material respects as of such earlier date. The representations and warranties of SPAC contained in <u>Section 5.8(b)</u> (Absence of Certain Changes or Events) shall be true and correct in all respects as of the date hereof and as of the Closing Date. The representations and warranties of the SPAC contained in <u>Section 5.3(a)</u> (Capitalization) shall be true and correct in all respects as of the date hereof and as of the Closing Date as though made on the Closing Date, except for *de minimis* inaccuracies set forth therein. All other representations and warranties of SPAC contained in this Agreement shall be true and correct (without giving any effect to any limitation as to "materiality" or "SPAC Material Adverse Effect" or any similar limitation set forth therein) as of the date hereof and as of the Closing Date, as though made on and as of the Closing Date, except (i) to the extent that any such representation and warranty expressly speaks as of an earlier date, in which case such representation and warranty shall be true and correct as of such earlier date and (ii) where the failure of such representations and warranties to be true and correct (whether as of the Closing Date or such earlier date), has not had, and would not be reasonably likely to have, individually or in the aggregate, a SPAC Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Agreements and Covenants</u>. SPAC shall have performed or complied in all material respects with all agreements and covenants required by this Agreement to be performed or complied with by it on or prior to the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Officer Certificate</u>. SPAC shall have delivered to the Company a certificate, dated the date of the Closing, signed by an officer of SPAC, certifying as to the satisfaction of the conditions specified in <u>Section 8.3(a)</u>, <u>Section 8.3(b)</u>, <u>Section 8.3(d)</u> and <u>Section 8.3(f)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Material Adverse Effect</u>. No SPAC Material Adverse Effect shall have occurred between the date of this Agreement and the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Support Agreement</u>. The Support Agreement shall be in full force and effect, and the Sponsor shall not have attempted to repudiate or disclaim any of its obligations thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Minimum Proceeds</u>. The Company shall have available at the Closing cash and cash equivalents in an aggregate amount not less than $50,000,000, including, without duplication, (i) the cash available to SPAC from the Trust Account (after giving effect to (x) the redemption of any shares of Class A Common Stock by the stockholders of SPAC in connection with the SPAC Proposals and (y) any Stock Buyback Tax incurred in respect of the SPAC Proposals and the Extension Proposal), (ii) cash and cash equivalents held by the Company and the Company Subsidiaries as of immediately prior to the Closing, (iii) any amounts or proceeds received pursuant to the Convertible Financing in connection with the Closing (for the avoidance of doubt, excluding any amounts which have been previously funded prior to the Closing Date, except to the extent such amounts are held by the Company and the Company Subsidiaries as of immediately prior to the Closing), and (iv) any amounts or proceeds received pursuant to the PIPE Financing in connection with the Closing, and after giving effect to the payment of any Outstanding Company Transaction Expenses and Outstanding SPAC Transaction Expenses.

**Article IX** **<br> TERMINATION, AMENDMENT AND WAIVER**

Section 9.1 <u>Termination</u>. This Agreement may be terminated and the Transactions may be abandoned at any time prior to the Closing, notwithstanding any requisite approval and adoption of this Agreement and the Transactions by the Company Shareholders or SPAC, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) by mutual written consent of SPAC and the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) by either SPAC or the Company if the Closing shall not have occurred prior to February 14, 2024 (the "***Outside Date***"); *provided*, *however*, that this Agreement may not be terminated under this <u>Section 9.1(b)</u> by or on behalf of any party that either directly or indirectly through its affiliates is in breach or violation of any representation, warranty, covenant, agreement or obligation contained herein and such breach or violation is the principal cause of the failure of a condition set forth in <u>Article VIII</u> on or prior to the Outside Date; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) by either SPAC or the Company if any Governmental Authority of competent jurisdiction shall have enacted, issued, promulgated, enforced or entered any permanent injunction, order, decree or ruling which has become final and nonappealable and has the effect of making consummation of the Transactions illegal or otherwise preventing or prohibiting consummation of the Transactions; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) by either SPAC or the Company if the SPAC Merger Proposal shall fail to receive the requisite vote for approval at the SPAC Stockholders' Meeting (including any adjournments or postponements thereof); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) by the Company, if the SPAC Board or any committee thereof makes a Change in Recommendation; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) by SPAC upon a breach of any representation, warranty, covenant or agreement on the part of the Company or Merger Sub set forth in this Agreement, or if any representation or warranty of the Company or Merger Sub shall have become untrue, in either case such that the conditions set forth in <u>Section 8.2(a)</u> and <u>Section 8.2(b)</u> would not be satisfied ("***Terminating Company Breach***"); *provided*, that SPAC has not waived such Terminating Company Breach and SPAC is not then in material breach of its covenants or agreements in this Agreement; *provided*, *further*, that, if such Terminating Company Breach is curable by the Company or Merger Sub, SPAC may not terminate this Agreement under this <u>Section 9.1(f)</u> for so long as the Company or Merger Sub continues to exercise its reasonable best efforts to cure such breach, unless such breach is not cured within the earlier of (x) thirty (30) days after notice of such breach is provided by SPAC to the Company and (y) the Outside Date; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) by the Company upon a breach of any representation, warranty, covenant or agreement on the part of SPAC set forth in this Agreement, or if any representation or warranty of SPAC shall have become untrue, in either case such that the conditions set forth in <u>Section 8.3(a)</u> and <u>Section 8.3(b)</u> would not be satisfied ("***Terminating SPAC Breach***"); *provided*, that the Company has not waived such Terminating SPAC Breach and the Company or Merger Sub is not then in material breach of its covenants or agreements in this Agreement; *provided, however,* that, if such Terminating SPAC Breach is curable by SPAC, the Company may not terminate this Agreement under this <u>Section 9.1(g)</u> for so long as SPAC continue to exercise its reasonable best efforts to cure such breach, unless such breach is not cured within the earlier of (x) thirty (30) days after notice of such breach is provided by the Company to SPAC and (y) the Outside Date.

Section 9.2 <u>Effect of Termination</u>. In the event of the termination of this Agreement pursuant to this <u>Article IX</u>, this Agreement shall forthwith become void, and there shall be no liability under this Agreement on the part of any party hereto, except as set forth in this <u>Section 9.2</u>, <u>Article X</u>, and any corresponding definitions set forth in <u>Article I,</u> or in the case of termination subsequent to a willful material breach of this Agreement by a party hereto.

Section 9.3 <u>Expenses</u>. Except as set forth in this <u>Section 9.3</u>, or elsewhere in this Agreement, including, for the avoidance of doubt <u>Section 3.6</u>, all expenses incurred in connection with this Agreement and the Transactions shall be paid by the party incurring such expenses; *provided*, that if the Closing shall occur, the Company shall (x) pay or cause to be paid, the Outstanding Company Transaction Expenses, (y) pay or cause to be paid, any Outstanding SPAC Transaction Expenses (including Outstanding SPAC Transaction Expenses incurred, accrued, paid or payable by SPAC's affiliates on SPAC's behalf) and (z) if applicable, subject to <u>Section 7.16</u>, repay the Sponsor or cause the Sponsor to be repaid the Extension Amount, in each of cases (x) and (y), in accordance with <u>Section 3.6</u>; provided, further, that if the Closing does not occur, any Stock Buyback Tax incurred by SPAC shall be borne solely by SPAC and not by the Company. For the avoidance of doubt, any payments to be made (or to cause to be made) by the Company pursuant to this <u>Section 9.3</u> shall be paid upon consummation of the Transactions and release of proceeds from the Trust Account.

Section 9.4 <u>Amendment</u>. This Agreement may be amended in writing by the parties hereto at any time prior to the Closing. This Agreement may not be amended except by an instrument in writing signed by each of the parties hereto.

Section 9.5 <u>Waiver</u>. At any time prior to the Closing, (a) SPAC may (i) extend the time for the performance of any obligation or other act of the Company or Merger Sub, (ii) waive any inaccuracy in the representations and warranties of the Company or Merger Sub contained herein or in any document delivered by the Company or Merger Sub pursuant hereto and (iii) waive compliance with any agreement of the Company or Merger Sub or any condition to its own obligations contained herein and (b) the Company may (i) extend the time for the performance of any obligation or other act of SPAC, (ii) waive any inaccuracy in the representations and warranties of SPAC contained herein or in any document delivered by SPAC pursuant hereto and (iii) waive compliance with any agreement of SPAC or any condition to its own obligations contained herein. Any such extension or waiver shall be valid if set forth in an instrument in writing signed by the party or parties to be bound thereby. Notwithstanding the foregoing, no failure or delay by a party in exercising any right hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise of any other right hereunder.

**Article X** **<br> GENERAL PROVISIONS**

Section 10.1 <u>Notices</u>. All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be given (and shall be deemed to have been duly given upon receipt) by delivery in person, by email or by registered or certified mail (postage prepaid, return receipt requested) to the respective parties at the following addresses (or at such other address for a party as shall be specified in a notice given in accordance with this <u>Section 10.1)</u>:

if to SPAC:

Nabors Energy Transition Corp.

515 West Greens Road, Suite 1200

Houston, Texas 77067

Attention: Anthony G. Petrello <br> Email: general.counsel@nabors.com

with a copy to:

Vinson & Elkins L.L.P.

845 Texas Avenue, Suite 4700

Houston, Texas 77002

---

| | |
|:---|:---|
| Attention: | Doug McWilliams |
|  | Scott Rubinsky |
| Email: | dmcwilliams@velaw.com |
|  | srubinsky@velaw.com |

---

if to the Company or Merger Sub:

Vast Solar Pty Ltd

226 Liverpool Street<br> Darlinghurst, NSW 2010, Australia

---

| | |
|:---|:---|
| Attention: | Craig Wood |
|  | Alec Waugh |
| Email: | [\*\*\*] |
|  | [\*\*\*] |

---

with a copy to:

White & Case LLP

Governor Phillip Tower, 1 Farrer Place

Sydney NSW 2000, Australia

---

| | |
|:---|:---|
| Attention: | Joel Rennie |
|  | Elliott Smith |
|  | Matthew Barnett |
|  | Nirangjan Nagarajah |
| Email: | joel.rennie@whitecase.com |
|  | elliott.smith@whitecase.com |
|  | Matthew.Barnett@whitecase.com |
|  | nirangjan.nagarajah@whitecase.com |

---

Section 10.2 <u>Nonsurvival of Representations, Warranties and Covenants</u>. None of the representations, warranties, covenants, obligations or other agreements in this Agreement or in any certificate, statement or instrument delivered pursuant to this Agreement, including any rights arising out of any breach of such representations, warranties, covenants, obligations, agreements and other provisions, shall survive the Closing and all such representations, warranties, covenants, obligations or other agreements shall terminate and expire upon the occurrence of the Closing (and there shall be no liability after the Closing in respect thereof), except for (a) those covenants and agreements contained herein that by their terms expressly apply in whole or in part after the Closing and then only with respect to any breaches occurring after the Closing and (b) this <u>Article X</u> and any corresponding definitions set forth in <u>Article I</u>.

Section 10.3 <u>Severability</u>. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law, or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable manner in order that the Transactions be consummated as originally contemplated to the fullest extent possible.

Section 10.4 <u>Entire Agreement; Assignment</u>. This Agreement and the Transaction Documents constitute the entire agreement among the parties with respect to the subject matter hereof and supersede all prior agreements and undertakings, both written and oral, among the parties, or any of them, with respect to the subject matter hereof, except for the Confidentiality Agreement. This Agreement shall not be assigned (whether pursuant to a merger, by operation of law or otherwise) by any party without the prior express written consent of the other parties hereto.

Section 10.5 <u>Parties in Interest</u>. This Agreement shall be binding upon and inure solely to the benefit of each party hereto, and nothing in this Agreement, express or implied, is intended to or shall confer upon any other person any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement, other than <u>Section 7.6</u> and <u>Section 10.11</u> (which are intended to be for the benefit of the persons covered thereby and may be enforced by such persons).

Section 10.6 <u>Governing Law</u>. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware applicable to Contracts executed in and to be performed in that State. All legal actions and proceedings arising out of or relating to this Agreement shall be heard and determined exclusively in any Delaware Chancery Court; *provided*, that if jurisdiction is not then available in the Delaware Chancery Court, then any such legal Action may be brought in any federal court located in the State of Delaware or any other Delaware state court. The parties hereto hereby (a) irrevocably submit to the exclusive jurisdiction of the aforesaid courts for themselves and with respect to their respective properties for the purpose of any Action arising out of or relating to this Agreement brought by any party hereto, and (b) agree not to commence any Action relating thereto except in the courts described above in Delaware, other than Actions in any court of competent jurisdiction to enforce any judgment, decree or award rendered by any such court in Delaware as described herein. Each of the parties further agrees that notice as provided herein shall constitute sufficient service of process and the parties further waive any argument that such service is insufficient. Each of the parties hereby irrevocably and unconditionally waives, and agrees not to assert, by way of motion or as a defense, counterclaim or otherwise, in any Action arising out of or relating to this Agreement or the transactions contemplated hereby, (i) any claim that it is not personally subject to the jurisdiction of the courts in Delaware as described herein for any reason, (ii) that it or its property is exempt or immune from jurisdiction of any such court or from any legal process commenced in such courts (whether through service of notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise) and (iii) that (A) the Action in any such court is brought in an inconvenient forum, (B) the venue of such Action is improper or (C) this Agreement, or the subject matter hereof, may not be enforced in or by such courts.

Section 10.7 <u>Waiver of Jury Trial</u>. Each of the parties hereto hereby waives to the fullest extent permitted by applicable Law any right it may have to a trial by jury with respect to any litigation directly or indirectly arising out of, under or in connection with this Agreement or the Transactions. Each of the parties hereto (a) certifies that no representative, agent or attorney of any other party has represented, expressly or otherwise, that such other party would not, in the event of litigation, seek to enforce that foregoing waiver and (b) acknowledges that it and the other party hereto have been induced to enter into this Agreement and the Transactions, as applicable, by, among other things, the mutual waivers and certifications in this <u>Section 10.7</u>.

Section 10.8 <u>Headings</u>. The descriptive headings contained in this Agreement are included for convenience of reference only and shall not affect in any way the meaning or interpretation of this Agreement.

Section 10.9 <u>Counterparts</u>. This Agreement may be executed and delivered (including by portable document format (.PDF) transmission) in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement.

Section 10.10 <u>Specific Performance</u>. The parties agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance with the terms hereof, and, accordingly, that the parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement or to enforce specifically the performance of the terms and provisions hereof (including the parties' obligation to consummate the Transactions) in the Court of Chancery of the State of Delaware or, if that court does not have jurisdiction, any court of the United States located in the State of Delaware without proof of actual damages or otherwise, in addition to any other remedy to which they are entitled at law or in equity as expressly permitted in this Agreement. Each of the parties hereby further waives (a) any defense in any action for specific performance that a remedy at law would be adequate and (b) any requirement under any Law to post security or a bond as a prerequisite to obtaining equitable relief.

Section 10.11 <u>No Recourse</u>. All claims, obligations, liabilities, or causes of action (whether in contract or in tort, in Law or in equity or otherwise, or granted by statute or otherwise, whether by or through attempted piercing of the corporate, limited partnership or limited liability company veil or any other theory or doctrine, including alter ego or otherwise) that may be based upon, in respect of, arise under, out or by reason of, be connected with, or relate in any manner to this Agreement or the other Transaction Documents, or the negotiation, execution, or performance or non-performance of this Agreement or the other Transaction Documents (including any representation or warranty made in, in connection with, or as an inducement to, this Agreement or the other Transaction Documents), may be made only against (and such representations and warranties are those solely of) the persons that are expressly identified as parties to this Agreement or the applicable Transaction Document (the "***Contracting Parties***"). In no event shall any Contracting Party have any shared or vicarious liability for the actions or omissions of any other person. No person who is not a Contracting Party, including without limitation any current, former or future director, officer, employee, incorporator, member, partner, manager, stockholder, affiliate, agent, financing source, attorney or Representative or assignee of any Contracting Party, or any current, former or future director, officer, employee, incorporator, member, partner, manager, stockholder, affiliate, agent, financing source, attorney or Representative or assignee of any of the foregoing (collectively, the "***Nonparty Affiliates***"), shall have any liability (whether in contract or in tort, in Law or in equity or otherwise, or granted by statute or otherwise, whether by or through attempted piercing of the corporate, limited partnership or limited liability company veil or any other theory or doctrine, including alter ego or otherwise) for any obligations or liabilities arising under, out of, in connection with, or related in any manner to this Agreement or the other Transaction Documents or for any claim based on, in respect of, or by reason of this Agreement or the other Transaction Documents or their negotiation, execution, performance, or breach, and, to the maximum extent permitted by applicable Law, each party hereto waives and releases all such liabilities, claims, causes of action and obligations against any such Nonparty Affiliates. The parties acknowledge and agree that the Nonparty Affiliates are intended third-party beneficiaries of this <u>Section 10.11</u>. Notwithstanding anything to the contrary herein, none of the Contracting Parties or any Nonparty Affiliate shall be responsible or liable for any multiple, consequential, indirect, special, statutory, exemplary or punitive damages which may be alleged as a result of this Agreement, the Transaction Documents or any other agreement referenced herein or therein or the transactions contemplated hereunder or thereunder, or the termination or abandonment of any of the foregoing.

[*Signature Page Follows*.]

IN WITNESS WHEREOF, SPAC, the Sponsor (solely with respect to <u>Sections 5.20</u>, <u>7.10(a)</u> and <u>7.16</u>), Nabors (solely with respect to <u>Sections 7.8(d)</u> and <u>7.18</u>), the Company and Merger Sub have caused this Agreement to be executed as of the date first written above by their respective officers thereunto duly authorized.

---

| | |
|:---|:---|
| **NABORS ENERGY TRANSITION CORP.** | **NABORS ENERGY TRANSITION CORP.** |
| By: | /s/ Anthony G. Petrello |
| Name: | Anthony G. Petrello |
| Title: | President, Chief Executive Officer and Secretary |
| **NABORS ENERGY TRANSITION SPONSOR LLC (solely with respect to <u>Sections 5.20</u>, <u>7.10(a)</u> and <u>7.16</u>)** | **NABORS ENERGY TRANSITION SPONSOR LLC (solely with respect to <u>Sections 5.20</u>, <u>7.10(a)</u> and <u>7.16</u>)** |
| By: | /s/ Anthony G. Petrello |
| Name: | Anthony G. Petrello |
| Title: | President, Chief Executive Officer and Secretary |
| **NABORS INDUSTRIES LTD. (solely with respect to <u>Sections 7.8(d)</u> and 7.18)** | **NABORS INDUSTRIES LTD. (solely with respect to <u>Sections 7.8(d)</u> and 7.18)** |
| By: | /s/ Anthony G. Petrello |
| Name: | Anthony G. Petrello |
| Title: | President, Chief Executive Officer and Secretary |

---

*Signature Page to Business Combination Agreement*

---

| | |
|:---|:---|
| **NEPTUNE MERGER SUB,INC.** | **NEPTUNE MERGER SUB,INC.** |
| By: | /s/ Craig David Wood |
| Name: | Craig David Wood |
| Title: | President |

---

*Signature Page to Business Combination Agreement*

**Signed, sealed and delivered for Vast Solar Pty**

**Ltd** in accordance with section 127 of the

Corporations Act 2001 (Cth) and by:

---

| | |
|:---|:---|
| /s/ John Igino Kahlbetzer | /s/ Colin Raymond Sussman |
| Signature of director | Signature of director/secretary |
| John Igino Kahlbetzer | Colin Raymond Sussman |
| Name of director | Name of director/secretary |

---

*Signature Page to Business Combination Agreement*

**EXHIBIT A**

Form of Shareholder and Registration Rights Agreement

Exhibit A-1

**Exhibit A**

**FORM OF SHAREHOLDER AND REGISTRATION RIGHTS AGREEMENT**

This SHAREHOLDER AND REGISTRATION RIGHTS AGREEMENT (this "<u>Agreement</u>"), dated as of [ ], 2023, is made and entered into by and among Vast Solar Ltd, an Australian proprietary company limited by shares (the "<u>Company</u>"), Nabors Energy Transition Corp., a Delaware corporation ("<u>SPAC</u>"), Nabors Energy Transition Sponsor LLC, a Delaware limited liability company ("<u>Sponsor</u>"), the undersigned former holders of SPAC securities listed on the signature pages hereto under "SPAC Holders"(such holders together with the Sponsor, the "<u>SPAC Holders</u>"), the parties set forth on Schedule I hereto (the foregoing parties, collectively "<u>Investors</u>"), AgCentral Energy Pty Ltd, a [ ] ("<u>AgCentral Energy</u>") and each of the undersigned holders listed on the signature pages hereto under "Vast Holders" (such holders together with AgCentral Energy, the "<u>Vast Holders</u>" and each such party, together with the SPAC Holders and any Person who hereafter becomes a party to this Agreement pursuant to <u>Section 6.3</u>, a "<u>Holder</u>" and collectively, the "<u>Holders</u>").

**RECITALS**

WHEREAS, SPAC, Sponsor, and certain other SPAC Holders entered into that certain Registration Rights Agreement, dated as of November 16, 2021 (the "<u>Original RRA</u>");

WHEREAS, the parties to the Original RRA desire to terminate the Original RRA and enter into this Agreement, which shall supersede and replace the Original RRA in accordance with Section 5.7 thereto;

WHEREAS, the Company entered into that certain Business Combination Agreement, dated as of February 13, 2023 (as it may be amended or supplemented from time to time, the "<u>Business Combination Agreement</u>"), by and among the Company, SPAC, Sponsor, and the other parties thereto;

WHEREAS, pursuant to the Business Combination Agreement, the SPAC Holders (as defined below) received ordinary shares in the capital of the Company ("<u>Company Shares</u>"); and

WHEREAS, the Parties desire to set forth their agreement with respect to governance, registration rights and certain other matters, in each case in accordance with the terms and conditions of this Agreement.

NOW, THEREFORE, in consideration of the representations, covenants and agreements contained herein, and certain other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

**Article I<br> DEFINITIONS**

1.1 <u>Definitions</u>. Capitalized terms used but not otherwise defined in this <u>Section 1.1</u> or elsewhere in this Agreement shall have the meanings ascribed to such terms in the Business Combination Agreement. The terms defined in this <u>Article I</u> shall, for all purposes of this Agreement, have the respective meanings set forth below:

"<u>Adverse Disclosure</u>" shall mean any public disclosure of material non-public information, which disclosure, in the good faith judgment of the principal executive officer or principal financial officer of the Company, after consultation with counsel to the Company, (i) would be required to be made in any Registration Statement or Prospectus in order for the applicable Registration Statement or Prospectus not to contain any Misstatement, (ii) would not be required to be made at such time if the Registration Statement were not being filed, declared effective, or used, as the case may be, and (iii) the Company has a bona fide business purpose for not making such information public.

"<u>Affiliate</u>" means, with respect to any specified Person, any Person that, directly or indirectly, controls, is controlled by, or is under common control with, such specified Person, through one or more intermediaries or otherwise. The term "control" means the ownership of a majority of the voting securities of the applicable Person or the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of the applicable Person, whether through ownership of voting securities, by contract or otherwise, and the terms "controlled" and "controlling" have meanings correlative thereto; <u>provided</u>, that, in no event shall the Company or any of the Company's subsidiaries be considered an Affiliate of any portfolio company (other than the Company and its subsidiaries) of any investment fund or account affiliated with, managed or controlled by, any direct or indirect equityholder of the Company nor shall any portfolio company (other than the Company and its subsidiaries) of any investment fund or account affiliated with any equityholder of the Company be considered to be an Affiliate of the Company or any of its subsidiaries.

"<u>Agreement</u>" shall have the meaning given in the Preamble hereto.

"<u>Beneficially Own</u>" has the meaning set forth in Rule 13d-3 promulgated under the Exchange Act.

"<u>Board</u>" shall mean the Board of Directors of the Company.

"<u>Business Combination Agreement</u>" shall have the meaning given in the Recitals hereto.

"<u>Business Day</u>" means a day, other than a Saturday or Sunday, on which the principal offices of the Commission in Washington, D.C. are open to accept filings, or, in the case of determining a date when any payment is due, any day on which banks are not required or authorized to close in New York, NY in the United States of America or Sydney, Australia.

"<u>Closing</u>" shall mean the closing of the business combination contemplated by the Business Combination Agreement.

"<u>Commission</u>" shall mean the Securities and Exchange Commission.

"<u>Company</u>" shall have the meaning given in the Preamble hereto.

"<u>Company Shares</u>" shall have the meaning given in the Recitals hereto.

"<u>Constitution</u>" means the amended and restated Constitution of the Company, as in effect as of the Closing, as the same may be amended from time to time.

"<u>Corporations Act</u>" means the *Corporations Act 2001* (Cth).

"<u>Demanding Holder</u>" shall have the meaning given in <u>subsection 3.1.4</u>.

"<u>Equity Securities</u>" means, with respect to the Company, all of the shares of capital stock or equity of (or other ownership or profit interests in) the Company, all of the warrants, options or other rights for the purchase or acquisition from the Company of shares of capital stock or equity of (or other ownership or profit interests in) the Company, all of the securities convertible into or exchangeable for shares of capital stock or equity of (or other ownership or profit interests in) the Company or warrants, rights or options for the purchase or acquisition from the Company of such shares or equity (or such other interests), restricted stock awards, restricted stock units, equity appreciation rights, phantom equity rights, profit participation and all of the other ownership or profit interests of the Company (including partnership or member interests therein), whether voting or nonvoting.

"<u>Exchange Act</u>" shall mean the Securities Exchange Act of 1934, as it may be amended from time to time.

"<u>Form F-1 Shelf</u>" shall have the meaning given in <u>subsection 3.1.1</u>.

"<u>Form F-3 Shelf</u>" shall have the meaning given in <u>subsection 3.1.2</u>.

"<u>Governmental Entity</u>" means any nation or government, any state, commonwealth, province, territory or other political subdivision thereof, any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, including any court, arbitrator (public or private) or other body or administrative, regulatory or quasi-judicial authority, agency, department, board, commission or instrumentality of any international, federal, state, local or foreign jurisdiction.

"<u>Holder Information</u>" shall have the meaning given in <u>subsection 5.1.2</u>.

"<u>Holders</u>" shall have the meaning given in the Preamble hereto.

"<u>Laws</u>" means all laws, acts, statutes, constitutions, treaties, ordinances, codes, rules, regulations, and rulings of a Governmental Entity, including common law. All references to "Laws" shall be deemed to include any amendments thereto, and any successor Law, unless the context otherwise requires.

"<u>Letter Agreement</u>" means that certain Letter Agreement, dated as of November 16, 2021, by and among the Sponsor, SPAC, and certain other parties thereto.

"<u>Lock-Up Period</u>" shall mean, with respect to Equity Securities held by the Holders, from the date hereof until the six (6) month anniversary of the Closing.

"<u>Maximum Number of Securities</u>" shall have the meaning given in <u>subsection 3.1.6</u>.

"<u>Minimum Takedown Threshold</u>" shall have the meaning given in <u>subsection 3.1.5</u>.

"<u>Misstatement</u>" shall mean an untrue statement of a material fact or an omission to state a material fact required to be stated in a Registration Statement or Prospectus or necessary to make the statements in a Registration Statement or Prospectus (in the case of a Prospectus, in the light of the circumstances under which they were made) not misleading.

"<u>Necessary Action</u>" means, with respect to any Party and a specified result, all actions (to the extent such actions are not prohibited by applicable Law and within such Party's control, and in the case of any action that requires a vote or other action on the part of the Board to the extent such action is consistent with fiduciary duties that the Company's directors may have in such capacity) necessary to cause such result, including (a) calling special meetings of shareholders, (b) voting or providing a written consent or proxy, if applicable in each case, with respect to Company Shares, (c) causing the adoption of shareholders' resolutions and amendments to the Constitution, (d) executing agreements and instruments, (e) making, or causing to be made, with Governmental Entities, all filings, registrations or similar actions that are required to achieve such result and (f) nominating certain Persons (including to fill vacancies) and providing the highest level of support for election of such Persons to the Board in connection with the annual or any special meeting of shareholders of the Company.

"<u>Party</u>" shall mean each of the Company, the SPAC Holders and the Vast Holders.

"<u>Permitted Transferees</u>" shall mean any Person to whom a Holder of Registrable Securities is permitted to transfer such Registrable Securities prior to the expiration of the Lock-up Period under this Agreement and any other applicable agreement between such Holder and the Company and is or has become party to this Agreement.

"<u>Piggyback Registration</u>" shall have the meaning given in <u>subsection 3.2.1</u>.

"<u>Person</u>" shall mean an individual, corporation, partnership, limited partnership, limited liability company, syndicate, person (including a "person" as defined in Section 13(d)(3) of the Exchange Act), trust, association or entity or government, political subdivision, agency or instrumentality of a government.

"<u>Prospectus</u>" shall mean the prospectus included in any Registration Statement, (including, without limitation, a prospectus that includes any information previously omitted from a prospectus filed as part of an effective Registration Statement in reliance on Rules 430A or 430B under the Securities Act or any successor rule thereto), as supplemented by any and all prospectus supplements and as amended by any and all post-effective amendments and including all material incorporated by reference in such prospectus.

"<u>Registrable Security</u>" shall mean at any time any outstanding Company Shares (including shares issuable under the Transaction Agreement) or any other Equity Security (including the warrants to purchase Company Shares issued pursuant to the [Assumed Warrant Agreement of Vast] and Company Shares issued or issuable upon the exercise of any other Equity Security) of the Company held by a Holder and any security into which such Company Shares or other Equity Security shall have been converted or exchanged in connection with a recapitalization, reorganization, reclassification, merger, consolidation, exchange, distribution or otherwise, in each case other than any security received pursuant to an incentive plan adopted by the Company on or after the Closing; <u>provided</u>, <u>however</u>, that, as to any particular Registrable Security, such securities shall cease to constitute Registrable Securities upon the earliest to occur of: (w) the date on which such securities are disposed of pursuant to an effective registration statement under the Securities Act; (x) the date on which such securities may be disposed of pursuant to Rule 144 (or any successor provision) promulgated under the Securities Act in a single day without limitation thereunder on volume or manner of sale; (y) the date on which such securities shall have been otherwise transferred, new certificates for such securities not bearing a legend restricting further transfer shall have been delivered by the Company and subsequent public distribution of such securities shall not require registration; and (z) the date on which such securities cease to be outstanding.

"<u>Registration</u>" shall mean a registration, including any related Shelf Takedown, effected by preparing and filing a registration statement, prospectus or similar document in compliance with the requirements of the Securities Act, and the applicable rules and regulations promulgated thereunder, and such registration statement becoming effective.

"<u>Registration Expenses</u>" shall mean the documented out-of-pocket expenses of a Registration, including, without limitation, the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) all registration and filing fees (including fees with respect to filings required to be made with the Financial Industry Regulatory Authority, Inc.) and any national securities exchange on which the Company Shares is then listed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) fees and expenses of compliance with securities or blue sky laws (including reasonable fees and disbursements of outside counsel for the Underwriters in connection with blue sky qualifications of Registrable Securities);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) printing, messenger, telephone and delivery expenses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) reasonable fees and disbursements of counsel for the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E) reasonable fees and disbursements of all independent registered public accountants of the Company and any other specialists required or reasonably requested by the underwriters incurred specifically in connection with such Registration;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F) the fees and expenses incurred in connection with the listing of any Registrable Securities on The New York Stock Exchange or other securities exchange upon which the Company Shares are listed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(G) the fees and expenses incurred by the Company in connection with any road show for any Underwritten Offerings, including Underwriter marketing costs (but only if the Company is also proposing to offer and sell securities in such offering); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(H) reasonable fees and expenses, not to exceed $150,000, of one (1) legal counsel selected by (i) the majority-in-interest of the Demanding Holders in an Underwritten Shelf Takedown or (ii) in the case of a Piggyback Registration, the majority in interest of the Holders participating in such Piggyback Registration; provided that, the Company will not be required to pay fees and expenses for more than one (1) legal counsel for all Holders in any given Registration or Shelf Takedown.

"<u>Registration Statement</u>" shall mean any registration statement that covers Registrable Securities pursuant to the provisions of this Agreement, including the Prospectus included in such registration statement, amendments (including post-effective amendments) and supplements to such registration statement, and all exhibits to and all material incorporated by reference in such registration statement.

"<u>Representatives</u>" means, with respect to any Person, any of such Person's officers, directors, employees, agents, attorneys, accountants, actuaries, consultants, equity financing partners or financial advisors or other Person acting on behalf of such Person.

"<u>Requesting Holders</u>" shall have the meaning given in <u>subsection 3.1.6</u>.

"<u>Rule 415</u>" shall mean Rule 415 promulgated under the Securities Act (or any successor rule then in effect).

"<u>Securities Act</u>" shall mean the Securities Act of 1933, as amended from time to time.

"<u>Shelf</u>" shall have the meaning given in <u>subsection 3.1.1</u>.

"<u>Shelf Registration</u>" shall mean a registration of securities pursuant to a Registration Statement filed with the Commission in accordance with and pursuant to Rule 415.

"<u>Shelf Takedown</u>" shall mean an Underwritten Shelf Takedown or any proposed transfer or sale using a Registration Statement, including a Piggyback Registration.

"<u>Sponsor</u>" shall have the meaning given in the Preamble hereto.

"<u>Sponsor Nominee</u>" shall have the meaning given in <u>subsection 2.1.2</u>.

"<u>Subsequent Shelf Registration</u>" shall have the meaning given in <u>subsection 3.1.4</u>.

"<u>Underwriter</u>" shall mean a securities dealer who purchases any Registrable Securities as principal in an Underwritten Offering and not as part of such dealer's market-making activities.

"<u>Underwritten Offering</u>" shall mean a Registration in which securities of the Company are sold to an Underwriter in a firm commitment underwriting for distribution to the public.

"<u>Underwritten Shelf Takedown</u>" shall have the meaning given in <u>subsection 3.1.5</u>.

"<u>Well-Known Seasoned Issuer</u>" shall have the meaning set forth in Rule 405 promulgated by the Commission pursuant to the Securities Act.

"<u>Withdrawal Notice</u>" shall have the meaning given in <u>subsection 3.1.7</u>.

**Article II<br> GOVERNANCE Rights**

2.1 <u>Board of Directors</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.1 <u>Sponsor Nominee</u>. For so long as Nabors Industries Ltd., a Bermuda exempted company and affiliate of Sponsor ("<u>Nabors Parent</u>"), and its Affiliates Beneficially Own at least 50% of the number of Company Shares that Nabors Parent and its Affiliates collectively Beneficially Owned immediately following Closing (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like), Sponsor shall have the right to nominate one director for election to serve on the Board (the "<u>Sponsor Nominee</u>"). The Sponsor Nominee shall qualify as "independent" pursuant to the listing standards of the national securities exchange upon which the Company Shares are admitted to trading (or, if at the time of such recommendation, the Company Shares are not admitted to trading on a national securities exchange, pursuant to the listing standards of the New York Stock Exchange, LLC or its successor).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.2 <u>AgCentral Energy Nominees</u>. For so long as AgCentral Energy and its Affiliates Beneficially Own at least the number of Company Shares that entitle Sponsor to the nomination right contemplated by Section 2.1.1, AgCentral Energy shall have the right to nominate one director for election to serve on the Board (the "<u>AgCentral Energy Nominee</u>"). The AgCentral Energy Nominee shall qualify as "independent" pursuant to the listing standards of the national securities exchange upon which the Company Shares are admitted to trading (or, if at the time of such recommendation, the Company Shares are not admitted to trading on a national securities exchange, pursuant to the listing standards of the New York Stock Exchange, LLC or its successor).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.3 <u>Procedures for nominees</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company shall take all Necessary Action to cause the Board to include in the slate of nominees to be voted upon by the shareholders of the Company at any meeting thereof the Sponsor Nominee and each AgCentral Energy Nominee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In the event that a vacancy is created on the Board at any time by the death, disability, resignation or removal of a Sponsor Nominee or AgCentral Energy Nominee, then Sponsor (in the case of a Sponsor Nominee) or AgCentral Energy (in the case of an AgCentral Energy Nominee) shall have the exclusive right to nominate an individual to fill such vacancy, and the Company shall take all Necessary Action to remove or nominate or cause the Board to appoint, as applicable, a replacement Sponsor Nominee or AgCentral Energy Nominee (as applicable) designated by Sponsor or AgCentral Energy (as applicable) to fill any such vacancy above as promptly as practicable after such designation.

2.2 <u>Sharing of Information.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2.1 <u>By Sponsor Nominee</u>. To the extent permitted by antitrust, competition or any other applicable Law, each of the Company and Sponsor agree and acknowledge that the Sponsor Nominee may, to the extent consistent with fiduciary duties, share confidential, non-public information about the Company and its subsidiaries ("<u>Confidential Information</u>") with the Sponsor. Sponsor recognizes that it, or its Affiliates and Representatives, have acquired or will acquire Confidential Information the use or disclosure of which could cause the Company substantial loss and damages that could not be readily calculated and for which no remedy at Law would be adequate. Accordingly, Sponsor covenants and agrees with the Company that it will not (and will cause its respective controlled Affiliates and Representatives not to) at any time, except with the prior written consent of the Company, directly or indirectly, use or disclose any Confidential Information known to it to any third party, unless (a) such information becomes known to the public through no fault of Sponsor in violation of this Agreement and without breach of fiduciary duty by the Sponsor Nominee, (b) disclosure is required by applicable Law (including any filing following the date of Closing made pursuant to applicable securities laws) or court of competent jurisdiction or requested by a Governmental Entity, (c) such information was available or becomes available to Sponsor or its Affiliates or Representatives before, on or after the date of this Agreement, without restriction, from a source (other than the Company or any of its subsidiaries or the Sponsor Nominee) without any breach of duty to the Company or any of its Affiliates or (d) such information was independently developed by such Party or its Representatives without the use of, or reference to, the Confidential Information. Notwithstanding the foregoing, nothing in this Agreement shall prohibit Sponsor from disclosing Confidential Information (x) to any Affiliate or Representative, of such Party, provided, that such Person shall be bound by an obligation of confidentiality with respect to such Confidential Information and Sponsor shall be responsible for any breach of this <u>subsection 2.1.2</u> by any such Person or (y) if such disclosure is made pursuant to any examinations, audits, investigations, regulatory sweeps or other regulatory inquiries by regulatory agencies, self-regulatory organizations, Governmental Entities or examiners thereof with jurisdiction over such Party that does not target the Company or the Confidential Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2.2 <u>By AgCentral Energy Nominees</u>. To the extent permitted by antitrust, competition or any other applicable Law, each of the Company and AgCentral Energy agree and acknowledge that the AgCentral Energy Nominees may, to the extent consistent with fiduciary duties, share Confidential Information with AgCentral Energy. AgCentral Energy recognizes that it, or its Affiliates and Representatives, have acquired or will acquire Confidential Information the use or disclosure of which could cause the Company substantial loss and damages that could not be readily calculated and for which no remedy at Law would be adequate. Accordingly, AgCentral Energy covenants and agrees with the Company that it will not (and will cause its respective controlled Affiliates and Representatives not to) at any time, except with the prior written consent of the Company, directly or indirectly, use or disclose any Confidential Information known to it to any third party, unless (a) such information becomes known to the public through no fault of AgCentral Energy in violation of this Agreement and without breach of fiduciary duty by the AgCentral Energy Nominees, (b) disclosure is required by applicable Law (including any filing following the date of Closing made pursuant to applicable securities laws) or court of competent jurisdiction or requested by a Governmental Entity, (c) such information was available or becomes available to AgCentral Energy or its Affiliates or Representatives before, on or after the date of this Agreement, without restriction, from a source (other than the Company or any of its subsidiaries or the AgCentral Energy Nominees) without any breach of duty to the Company or any of its Affiliates or (d) such information was independently developed by such Party or its Representatives without the use of, or reference to, the Confidential Information. Notwithstanding the foregoing, nothing in this Agreement shall prohibit AgCentral Energy from disclosing Confidential Information (x) to any Affiliate or Representative, of such Party, provided, that such Person shall be bound by an obligation of confidentiality with respect to such Confidential Information and AgCentral Energy shall be responsible for any breach of this <u>subsection 2.2.2</u> by any such Person or (y) if such disclosure is made pursuant to any examinations, audits, investigations, regulatory sweeps or other regulatory inquiries by regulatory agencies, self-regulatory organizations, Governmental Entities or examiners thereof with jurisdiction over such Party that does not target the Company or the Confidential Information.

2.3 <u>Compliance with Securities Laws</u>. The Sponsor and AgCentral Energy each acknowledge that (a) it understands that the Confidential Information may contain or constitute material non-public information or insider information (as defined in the Corporations Act) (collectively, "**MNPI**") concerning the Company or its affiliates; and (b) trading in the Company's, or its affiliates' securities while in possession of MNPI or communicating MNPI to any other person who trades in such securities could subject the Sponsor, AgCentral Energy or the Company to liability under the U.S. federal and state securities laws, and the rules and regulations promulgated thereunder, including Section 10(b) of the Exchange Act, and Rule 10b-5 promulgated thereunder, or Division 3 of Chapter 7 of the Corporations Act. The Sponsor and AgCentral Energy each agree that it and its Affiliates will not trade, and it will instruct its Representatives not to trade, in the Company's or its affiliates' securities while in possession of MNPI or at all until the Company, its affiliates and its Representatives (including the Sponsor Nominee or AgCentral Energy Nominees, as applicable) can do so in compliance with all applicable Laws and without breach of this Agreement.

**Article III<br> REGISTRATIONS AND OFFERINGS**

3.1 <u>Shelf Registration</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.1 <u>Form F-1 Shelf Filing</u>. The Company shall use its reasonable best efforts to file within sixty days of Closing a Registration Statement for a Shelf Registration on Form F-1 (the "<u>Form F-1 Shelf</u>," and together with the Form F-3 Shelf (as defined herein) and any Subsequent Shelf Registration, the "<u>Shelf</u>") covering the resale of all the Registrable Securities (and certain other outstanding Equity Securities of the Company as may be required by registration rights granted in favor of other shareholders of the Company or in the Company's sole discretion) on a delayed or continuous basis pursuant to Rule 415 under the Securities Act. The Company shall use its commercially reasonable efforts to cause the Shelf to become effective as soon as practicable after such filing. The Shelf shall provide for the resale of the Registrable Securities included therein pursuant to any method or combination of methods legally available to, and requested by, any Holder prior to the Shelf being declared effective; provided that it is agreed any Form F-1 Shelf shall have a plan of distribution that contemplates underwritten public offerings. The Company shall use commercially reasonable efforts to maintain the Shelf in accordance with the terms hereof, and shall use commercially reasonable efforts to prepare and file with the SEC such amendments, including post-effective amendments, and supplements as may be necessary to keep such Shelf continuously effective, available for use and in compliance with the provisions of the Securities Act (including to increase the amount of Registrable Securities that may be resold thereunder as a result of a Holder obtaining additional Registrable Securities) until such time as there are no longer any Registrable Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.2 <u>Rule 415 Cutback</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Notwithstanding the registration obligations set forth in <u>subsection 3.1.1</u>, in the event the Commission informs the Company that all of the Registrable Securities cannot, as a result of the application of Rule 415 of the Securities Act, be registered for resale as a secondary offering on a single registration statement, the Company agrees to promptly (a) inform each of the Holders and use its reasonable best efforts to file amendments to the Shelf Registration as required by the Commission and/or (b) withdraw the Shelf Registration and file a new Registration Statement (a "<u>New Registration Statement</u>") to register for resale the Registrable Securities as a secondary offering; provided, however, that prior to filing such amendment or New Registration Statement, the Company shall use its reasonable best efforts to advocate with the Commission for the registration of all of the Registrable Securities in accordance with any publicly-available written or oral guidance, comments, requirements or requests of the Commission staff (the "<u>SEC Guidance</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notwithstanding any other provision of this Agreement, if any SEC Guidance sets forth a limitation of the number of Registrable Securities permitted to be registered on a particular Registration Statement as a secondary offering, unless otherwise directed in writing by a Holder as to its Registrable Securities and subject to a determination by the Commission that certain Holders must be reduced first based on the number of Registrable Securities held by such Holders, the number of Registrable Securities to be registered on such Registration Statement will be reduced on a pro rata basis among the Holders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If the Company amends the Shelf or files a New Registration Statement, as the case may be, under this <u>subsection 3.1.2</u>, the Company shall use its reasonable best efforts to file with the Commission, as promptly as practicable and allowed by the Commission or SEC Guidance, one or more Registration Statements to register for resale those Registrable Securities that were not registered for resale on the Shelf, as amended, or the New Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.3 <u>Form F-3 Shelf</u>. The Company shall use its reasonable best efforts to convert the Form F-1 Shelf (and any Subsequent Shelf Registration) to a Registration Statement for a Shelf Registration on Form F-3 (the "<u>Form F-3 Shelf</u>") as soon as practicable after the Company is eligible to use such Form F-3 Shelf.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.4 <u>Subsequent Shelf Registration</u>. If any Shelf ceases to be effective under the Securities Act for any reason at any time while Registrable Securities are still outstanding, the Company shall use its reasonable best efforts to as promptly as is reasonably practicable cause such Shelf to again become effective under the Securities Act (including using reasonable best efforts to obtain the prompt withdrawal of any order suspending the effectiveness of such Shelf), and shall use its commercially reasonable efforts to as promptly as is reasonably practicable amend such Shelf in a manner reasonably expected to result in the withdrawal of any order suspending the effectiveness of such Shelf or file an additional registration statement as a Shelf Registration (a "<u>Subsequent Shelf Registration</u>") registering the resale of all Registrable Securities (determined as of two Business Days prior to such filing) from time to time, and pursuant to any method or combination of methods legally available to, and requested by, any Holder. If a Subsequent Shelf Registration is filed, the Company shall use its commercially reasonable efforts to (i) cause such Subsequent Shelf Registration to become effective under the Securities Act as promptly as is reasonably practicable after the filing thereof (it being agreed that the Subsequent Shelf Registration shall be an Automatic Shelf Registration Statement if the Company is a Well-Known Seasoned Issuer) and (ii) keep such Subsequent Shelf Registration continuously effective, available for use and in compliance with the provisions of the Securities Act until such time as there are no longer any Registrable Securities. Any such Subsequent Shelf Registration shall be on Form F-3 to the extent that the Company is eligible to use such form. Otherwise, such Subsequent Shelf Registration shall be on another appropriate form. In the event that any Holder holds Registrable Securities that are not registered for resale on a delayed or continuous basis, the Company, upon request of a Holder, shall promptly use its commercially reasonable efforts to cause the resale of such Registrable Securities to be covered by either, at the Company's option, the Shelf (including by means of a post-effective amendment) or a Subsequent Shelf Registration and cause the same to become effective as soon as practicable after such filing and such Shelf or Subsequent Shelf Registration shall be subject to the terms hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.5 <u>Requests for Underwritten Shelf Takedowns</u>. At any time and from time to time after the Shelf has been declared effective by the Commission, and after the expiration of the lock-up period set out in clause 4.7.1, any Holder may request to sell, all or any portion of its Registrable Securities in an underwritten offering that is registered pursuant to the Shelf (each, an "<u>Underwritten Shelf Takedown</u>"); <u>provided</u> that the Company shall only be obligated to effect an Underwritten Shelf Takedown if such offering shall include either (x) securities with a total offering price (including piggyback securities and before deduction of underwriting discounts) reasonably expected to exceed, in the aggregate, the lesser of (i) $20 million and (ii) five percent (5%) of the Company's market capitalization or (y) all remaining Registrable Securities held by the requesting Holder, but in no event with a total offering price (including piggyback securities and before deduction of underwriting discounts) reasonably expected to less than $10,000,000 (the "<u>Minimum Takedown Threshold</u>"). All requests for Underwritten Shelf Takedowns shall be made by giving written notice to the Company, which shall specify the approximate number of Registrable Securities proposed to be sold in the Underwritten Shelf Takedown, the intended method or methods of distribution thereof and the expected price range (net of underwriting discounts and commissions) of such Underwritten Shelf Takedown. The majority-in-interest of Holders that requested such Underwritten Shelf Takedown (the "<u>Demanding Holders</u>") shall have the right to select the Underwriters for such offering (which shall consist of one or more reputable nationally recognized investment banks) subject to the prior approval of the Company, which shall not be unreasonably withheld, conditioned or delayed. Notwithstanding anything to the contrary herein, the Sponsor and each other SPAC Holder, if any, may each demand only one Underwritten Shelf Takedown each fiscal year and the VAST Holders may, collectively, demand only two Underwritten Shelf Takedowns each fiscal year; provided, that no demand for an Underwritten Shelf Takedown may be made prior to 45 days following the consummation of another Underwritten Shelf Takedown or a Piggyback Registration (as defined herein) has been effected.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.6 <u>Reduction of Underwritten Shelf Takedown</u>. If the managing Underwriter or Underwriters in an Underwritten Shelf Takedown, in good faith, advises the Company, the Demanding Holders and the Holders requesting piggy back rights pursuant to this Agreement with respect to such Underwritten Shelf Takedown (the "<u>Requesting Holders</u>") (if any) in writing that the dollar amount or number of Registrable Securities that the Demanding Holders and the Requesting Holders (if any) desire to sell, taken together with all other Company Shares or other Equity Securities that the Company desires to sell and all other Company Shares or other Equity Securities, if any, that have been requested to be sold in such Underwritten Offering pursuant to separate written contractual piggyback registration rights held by any other shareholders who desire to sell, exceeds the maximum dollar amount or maximum number of Equity Securities that can be sold in the Underwritten Offering without adversely affecting the proposed offering price, the timing, the distribution method, or the probability of success of such offering (such maximum dollar amount or maximum number of such securities, as applicable, the "<u>Maximum Number of Securities</u>"), then the Company shall include in such Underwritten Offering, (i) the Registrable Securities that can be sold without exceeding the Maximum Number of Securities pro rata among all participating Holders on the basis of the number of Registrable Securities requested to be included by each such Holder, (ii) to the extent that the Maximum Number of Securities has not been reached under the foregoing (i) such number of Company Shares or other Equity Securities proposed to be sold by the Company that can be sold without exceeding the Maximum Number of Securities, and (iii) to the extent that the Maximum Number of Securities has not been reached under the foregoing (i) and (ii), Company Shares or other Equity Securities of other Persons that the Company is obligated to include in such Underwritten Offering pursuant to separate written contractual arrangements with such Persons and that can be sold without exceeding the Maximum Number of Securities. Notwithstanding anything herein to the contrary, if the Maximum Number of Securities is less than 50% of the number of Registrable Securities requested by the Holders to be included in such Underwritten Shelf Takedown, such Underwritten Shelf Takedown shall not count as an Underwritten Shelf Takedown demanded by any Holder for purposes of Section 3.1.3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.7 <u>Withdrawa</u>l. Any of the Holders initiating a Shelf Takedown shall have the right to withdraw from a Shelf Takedown for any or no reason whatsoever upon written notification (a "<u>Withdrawal Notice</u>") to the Company and the Underwriter or Underwriters (if any) of their intention to withdraw from such Underwritten Shelf Takedown; provided that the SPAC Holders or the Vast Holders may elect to have the Company continue an Underwritten Shelf Takedown if the Minimum Takedown Threshold would still be satisfied. If withdrawn, a demand for an Underwritten Shelf Takedown shall constitute a demand for an Underwritten Shelf Takedown for purposes of <u>subsection 3.1.4</u> with respect to the applicable Demanding Holder, unless the Demanding Holder reimburses the Company for all Registration Expenses with respect to such Underwritten Shelf Takedown (or, if there is more than one Demanding Holder, a pro rata portion of such Registration Expenses based on the respective number of Registrable Securities that each Demanding Holder has requested be included in such Underwritten Shelf Takedown); <u>provided</u>, that if a Holder elects to continue an Underwritten Shelf Takedown pursuant to the proviso in the immediately preceding sentence, such Underwritten Shelf Takedown shall count as an Underwritten Shelf Takedown demanded by such Holder for purposes of <u>subsection 3.1.4</u>. Following the receipt of any Withdrawal Notice, the Company shall promptly forward such Withdrawal Notice to any other Holders that had elected to participate in such Underwritten Shelf Takedown.

Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with a Underwritten Shelf Takedown prior to its withdrawal under this <u>subsection 3.1.6</u>, other than if a Demanding Holder elects to pay such Registration Expenses pursuant to the second sentence of this <u>subsection 3.1.6</u>.

3.2 <u>Piggyback Registration</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.1 <u>Piggyback Rights</u>. If the Company or any Holder proposes to conduct a registered offering of, or if the Company proposes to file a Registration Statement under the Securities Act with respect to an offering of, Equity Securities, or securities or other obligations exercisable or exchangeable for, or convertible into Equity Securities, for its own account, for a Demanding Holder or for the account of shareholders of the Company (or by the Company and by the shareholders of the Company including, without limitation, an Underwritten Shelf Takedown pursuant to <u>Section 3.1</u> hereof), other than a Registration Statement (or any registered offering with respect thereto) (i) filed in connection with any employee stock option or other benefit plan, (ii) pursuant to a Registration Statement on Form S-4 (or similar form that related to a transaction subject to Rule 145 promulgated under the Securities Act or any successor rule thereto), (iii) for a rights offering or an exchange offer or offering of securities solely to the Company's existing shareholders, (iv) for an offering of debt that is convertible into Equity Securities of the Company, (v) for an "at the market" or similar registered offering through a broker, sales agent or distribution agent, whether as agent or principal, or (vi) for a dividend reinvestment plan, then the Company shall give written notice of such proposed offering to all of the Holders of Registrable Securities as soon as practicable but not less than ten (10) Business Days before the anticipated filing date of such Registration Statement or, in the case of an underwritten offering pursuant to a Shelf Registration, the launch date of such offering, which notice shall (A) describe the amount and type of securities to be included in such offering, the intended method(s) of distribution, a good faith estimate of the proposed maximum offering price of such securities, and the name of the proposed managing Underwriter or Underwriters, if any, in such offering, and (B) offer to all of the Holders of Registrable Securities the opportunity to include in such registered offering such number of Registrable Securities as such Holders may request in writing within five (5) days after receipt of such written notice (unless such offering is an overnight or bought Underwritten Offering, then one (1) day, in each case) (such registered offering, a "<u>Piggyback Registration</u>"), provided, however, that if the Company has been advised in writing by the managing Underwriter(s) that the inclusion of Registrable Securities for sale for the benefit of the Holders will have an adverse effect on the price, timing, or distribution of the Equity Securities in an Underwritten Offering, then (1) if no Registrable Securities can be included in the Underwritten Offering in the opinion of the managing Underwriter(s), the Company shall not be required to offer such opportunity to such Holders or (2) if any Registrable Securities can be included in the Underwritten Offering in the opinion of the managing Underwriter(s), then the amount of Registrable Securities to be offered for the accounts of Holders shall be determined based on the provisions of <u>subsection 3.2.2</u>. The Company shall, in good faith, cause such Registrable Securities to be included in such Piggyback Registration and shall use its commercially reasonable efforts to cause the managing Underwriter or Underwriters of a proposed Underwritten Offering to permit the Registrable Securities requested by the Holders pursuant to this <u>subsection 3.2.1</u> to be included in a Piggyback Registration on the same terms and conditions as any similar securities of the Company included in such registered offering and to permit the sale or other disposition of such Registrable Securities in accordance with the intended method(s) of distribution thereof. The inclusion of any Holder's Registrable Securities in a Piggyback Registration shall be subject to such Holder agreement to enter into an underwriting agreement in customary form with the Underwriter(s) selected for such Underwritten Offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.2 <u>Reduction of Piggyback Registration</u>. If the managing Underwriter or Underwriters in an Underwritten Offering that is to be a Piggyback Registration, in good faith, advises the Company and the Holders of Registrable Securities participating in the Piggyback Registration in writing that the dollar amount or number of Company Shares or other Equity Securities that the Company desires to sell, taken together with (i) the Company Shares or other Equity Securities, if any, as to which Registration or a registered offering has been demanded pursuant to separate written contractual arrangements with Persons other than the Holders of Registrable Securities hereunder, (ii) the Registrable Securities as to which registration has been requested pursuant to <u>Section 3.2</u> hereof, and (iii) Company Shares or other Equity Securities, if any, as to which Registration or a registered offering has been requested pursuant to separate written contractual piggy-back registration rights of Persons other than the Holders of Registrable Securities hereunder, exceeds the Maximum Number of Securities, then:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If the Registration or registered offering is undertaken for the Company's account, the Company shall include in any such Registration or registered offering the number of Company Shares or other Equity Securities proposed to be sold by the Company, and thereafter, the Registrable Securities that can be sold without exceeding the Maximum Number of Securities pro rata among such Holders on the basis of the number of Registrable Securities requested to be included by each such Holder and, to the extent that the Maximum Number of Securities has not been reached, Company Shares or other Equity Securities, if any, as to which Registration or a registered offering has been requested pursuant to written contractual piggy-back registration rights of Persons other than the Holders of Registrable Securities hereunder, which can be sold without exceeding the Maximum Number of Securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If the Registration or registered offering is pursuant to a request by Persons other than the Holders of Registrable Securities, then the Company shall include in any such Registration or registered offering (A) first, the Company Shares or other Equity Securities, if any, of such requesting Persons, other than the Holders of Registrable Securities, which can be sold without exceeding the Maximum Number of Securities; (B) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (A), the Registrable Securities of Holders exercising their rights to register their Registrable Securities pursuant to <u>subsection 3.2.1</u>, pro rata among such Holders on the basis of the number of Registrable Securities requested to be included by each such Holder, which can be sold without exceeding the Maximum Number of Securities; (C) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A) and (B), Company Shares or other Equity Securities that the Company desires to sell, which can be sold without exceeding the Maximum Number of Securities; and (D) fourth, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A), (B) and (C), Company Shares or other Equity Securities for the account of other Persons that the Company is obligated to register pursuant to separate written contractual arrangements with such Persons, which can be sold without exceeding the Maximum Number of Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If the Registration or registered offering is an Underwritten Shelf Takedown pursuant to a request by Holder(s) of Registrable Securities pursuant to <u>subsection 3.1.5</u> hereof, then the Company shall include in any such Underwritten Shelf Takedown the applicable securities in the priority set forth in <u>subsection 3.1.6</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.3 <u>Piggyback Registration Withdrawa</u>l. Any Holder of Registrable Securities shall have the right to withdraw from a Piggyback Registration for any or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters (if any) of his, her or its intention to withdraw from such Piggyback Registration prior to the effectiveness of the Registration Statement filed with the Commission with respect to such Piggyback Registration or, in the case of a Piggyback Registration pursuant to a Shelf Registration, at least five (5) Business Days prior to the filing of the applicable "red herring" prospectus or prospectus supplement with respect to such Piggyback Registration used for marketing such transaction. The Company (whether on its own good faith determination or as the result of a request for withdrawal by Persons pursuant to separate written contractual obligations) may withdraw a Registration Statement filed with the Commission in connection with a Piggyback Registration (which, in no circumstance, shall include the Shelf) at any time prior to the effectiveness of such Registration Statement. Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with the Piggyback Registration prior to its withdrawal under this <u>subsection 3.2.3</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.4 <u>Unlimited Piggyback Registration Rights</u>. For purposes of clarity, subject to <u>subsection 3.1.6</u> any Piggyback Registration effected pursuant to <u>Section 3.2</u> hereof shall not be counted as a demand for an Underwritten Shelf Takedown under <u>subsection 3.1.4</u> hereof.

3.3 <u>Market Stand-off</u>. In connection with any Underwritten Offering of Equity Securities of the Company, if requested by the managing Underwriter(s), each Holder agrees that it shall not transfer any Company Shares (other than those included in such offering pursuant to this Agreement), without the prior written consent of the Company, during the seven days prior to and the 90-day period beginning on the date of pricing of such offering, except in the event the Underwriters managing the offering otherwise agree by written consent. Each Holder agrees to execute a customary lock-up agreement in favor of the Underwriters to such effect (in each case on substantially the same terms and conditions as all such Holders). Notwithstanding the foregoing, with respect to an Underwritten Offering, a Holder shall not be subject to this <u>Section 3.3</u> with respect to an Underwritten Offering unless each shareholder of the Company that (together with their affiliates) hold at least 5% of the issued and outstanding Company Shares and each of the Company's directors and officers have executed a lock-up on terms at least as restrictive with respect to such Underwritten Offering as requested of the Holders. A Holder's obligations under this Section 3.3 shall only apply for so long as such Holder or its affiliates is a member of the Board of Directors of the Company or such Holder (together with its Affiliates) holds at least 5% of the issued and outstanding Company Shares.

**Article IV<br> COMPANY PROCEDURES**

4.1 <u>General Procedures</u>. In connection with any Shelf and/or Shelf Takedown, the Company shall use its commercially reasonable efforts to effect such Registration to permit the sale of such Registrable Securities in accordance with the intended plan of distribution thereof, and pursuant thereto the Company shall use reasonable best efforts to, as expeditiously as possible:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.1 prepare and file with the Commission, within the timeframe required by <u>Section 3.1.1</u>, a Registration Statement with respect to such Registrable Securities and use commercially reasonable efforts to cause such Registration Statement to become effective and remain effective pursuant to the terms of this Agreement until all Registrable Securities covered by such Registration Statement have been sold or have ceased to be Registrable Securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.2 prepare and file with the Commission such amendments and post-effective amendments to the Registration Statement, and such supplements to the Prospectus as may be reasonably requested by any Holder or Underwriter of Registrable Securities or as may be required by the rules, regulations or instructions applicable to the registration form used by the Company or by the Securities Act or rules and regulations thereunder to keep the Registration Statement effective until all Registrable Securities covered by such Registration Statement are sold in accordance with the intended plan of distribution set forth in such Registration Statement or supplement to the Prospectus or have ceased to be Registrable Securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.3 prior to filing a Registration Statement or Prospectus, or any amendment or supplement thereto, furnish without charge to the Underwriters, if any, and the Holders of Registrable Securities included in such Registration, and such Holders' legal counsel, copies of such Registration Statement as proposed to be filed, each amendment and supplement to such Registration Statement (in each case including all exhibits thereto and documents incorporated by reference therein), the Prospectus included in such Registration Statement (including each preliminary Prospectus), and such other documents as the Underwriters and the Holders of Registrable Securities included in such Registration or the legal counsel for any such Holders may reasonably request in order to facilitate the disposition of the Registrable Securities owned by such Holders; <u>provided</u> that the Company will not have any obligation to provide any document pursuant to this clause that is available on the Commission's EDGAR system;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.4 prior to any public offering of Registrable Securities, use its commercially reasonable efforts to (i) register or qualify the Registrable Securities covered by the Registration Statement under such securities or "<u>Blue Sky</u>" laws of such jurisdictions in the United States as the Holders of Registrable Securities included in such Registration Statement (in light of their intended plan of distribution) may reasonably request (or provide evidence reasonably satisfactory to such Holders that the Registrable Securities are exempt from such registration or qualification) and (ii) take such action necessary to cause such Registrable Securities covered by the Registration Statement to be registered with or approved by such other governmental authorities as may be necessary by virtue of the business and operations of the Company and do any and all other acts and things that may be necessary or advisable to enable the Holders of Registrable Securities included in such Registration Statement to consummate the disposition of such Registrable Securities in such jurisdictions; <u>provided</u>, <u>however</u>, that the Company shall not be required to qualify generally to do business or as a dealer in securities in any jurisdiction where it would not otherwise be required to qualify or take any action to which it would be subject to general service of process or taxation in any such jurisdiction where it is not then otherwise so subject;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.5 use its commercially reasonable efforts to cause all such Registrable Securities to be listed on each national securities exchange or automated quotation system on which similar securities issued by the Company are then listed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.6 provide a transfer agent or warrant agent, as applicable, and registrar for all such Registrable Securities no later than the effective date of such Registration Statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.7 advise each seller of such Registrable Securities, promptly after it shall receive notice or obtain knowledge thereof, of the issuance of any stop order by the Commission suspending the effectiveness of such Registration Statement or the initiation or threatening of any proceeding for such purpose and promptly use its reasonable best efforts to prevent the issuance of any stop order or to obtain its withdrawal if such stop order should be issued;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.8 at least two (2) days prior to the filing of any Registration Statement or Prospectus or any amendment or supplement to such Registration Statement or Prospectus furnish a copy thereof to each seller of such Registrable Securities or its counsel (excluding any exhibits thereto and any filing made under the Exchange Act that is to be incorporated by reference therein);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.9 notify the Holders at any time when a Prospectus relating to such Registration Statement is required to be delivered under the Securities Act, of the happening of any event as a result of which the Prospectus included in such Registration Statement, as then in effect, includes a Misstatement, and then to correct such Misstatement as set forth in <u>Section 4.4</u> hereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.10 in the event of an Underwritten Offering, and solely to the extent customary for a transaction of its type, permit a representative of the Holders (such representative to be selected by a majority of the participating Holders), the Underwriters, if any, and any attorney, consultant or accountant retained by such Holders or Underwriter to participate, at each such Person's own expense, in the preparation of the Registration Statement or the Prospectus, and cause the Company's officers, directors and employees to supply all information reasonably requested by any such representative, Underwriter, attorney, consultant or accountant in connection with the Registration; <u>provided</u>, <u>howeve</u>r, that the Company may not include the name of any Holder or any information regarding any Holder in any Registration Statement or Prospectus, any amendment or supplement to such Registration Statement or Prospectus, any document into such Registration Statement or Prospectus, or any response to any comment letter, without the prior written consent of such Holder (not to be unreasonably withheld) and providing each such Holder a reasonable amount of time to review and comment on such applicable document, which comments the Company shall include unless contrary to applicable law

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.11 obtain a "cold comfort" letter from the Company's independent registered public accountants in the event of an Underwritten Offering, in customary form and covering such matters of the type customarily covered by "cold comfort" letters for a transaction of its type as the managing Underwriter may reasonably request ;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.12 on the date the Registrable Securities are delivered for sale pursuant to such Registration, in the event of an Underwritten Offering, obtain an opinion, dated such date, of counsel representing the Company for the purposes of such Registration, addressed to the Underwriters, the placement agent or sales agent, if any, covering such legal matters with respect to the Registration in respect of which such opinion is being given as the Underwriters, the placement agent or sales agent may reasonably request and as are customarily included in such opinions and negative assurance letters, and reasonably satisfactory to such Underwriters, placement agent or sales agent ;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.13 in the event of an Underwritten Offering, to the extent reasonably requested in order to engage in such offering, allow the Underwriters to conduct customary due diligence with respect to the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.14 in the event of any Underwritten Offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form and as agreed to by the Company, with the managing Underwriter of such offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.15 make available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve (12) months beginning with the first day of the Company's first full calendar quarter after the effective date of the Registration Statement which satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any successor rule then in effect);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.16 if an Underwritten Offering involves Registrable Securities with a total offering price (including piggyback securities and before deduction of underwriting discounts) reasonably expected to exceed, in the aggregate, the lesser of (i) $20 million and (ii) five percent (5%) of the Company's market capitalization, use its reasonable efforts to make available senior executives of the Company to participate in customary "road show" presentations that may be reasonably requested by the Underwriter in such Underwritten Offering; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.17 otherwise, in good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by the Holders, consistent with this Agreement, in connection with such Registration.

4.2 <u>Registration Expenses</u>. Except as otherwise provided herein, the Registration Expenses of all Registrations shall be borne by the Company. It is acknowledged by the Holders that the Holders shall bear all Underwriters' commissions and discounts, brokerage fees, and, other than as set forth in the definition of "Registration Expenses," all reasonable fees and expenses of any legal counsel representing the Holders.

4.3 <u>Requirements for Inclusion as a Selling Stockholder</u>. Notwithstanding anything in this Agreement to the contrary, if any Holder does not provide the Company with its requested Holder Information, and any other reasonably requested agreements or certificates, on or prior to the fifth (5<sup>th</sup>) Business Day prior to the first anticipated filing date of a Registration Statement pursuant to this Agreement, the Company may exclude such Holder's Registrable Securities from the applicable Registration Statement or Prospectus if the Company determines, based on the advice of counsel, that such information is necessary to effect the registration and such Holder continues thereafter to withhold such information. No Person may participate in any Underwritten Offering for Equity Securities of the Company pursuant to a Registration initiated by the Company hereunder unless such Person (i) agrees to sell such Person's securities on the basis provided in any underwriting arrangements approved by the Company and (ii) completes and executes all customary questionnaires, powers of attorney, custody agreements, indemnities, lock-up agreements, underwriting agreements and other customary documents as may be reasonably required under the terms of such underwriting arrangements. The exclusion of a Holder's Registrable Securities as a result of this <u>Section 4.3</u> shall not affect the registration of the other Registrable Securities to be included in such Registration.

4.4 <u>Suspension of Sales; Adverse Disclosure</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4.1 Upon receipt of written notice from the Company that a Registration Statement or Prospectus contains a Misstatement, or upon the advice of counsel for the Company, the Company determines it is necessary to supplement or amend the prospectus to comply with applicable law, each of the Holders shall forthwith discontinue disposition of Registrable Securities until it has received copies of a supplemented or amended Prospectus correcting the Misstatement (it being understood that the Company hereby covenants to use commercially reasonable efforts to prepare and file such supplement or amendment as soon as practicable after the time of such notice), or until it is advised in writing by the Company that the use of the Prospectus may be resumed. If the filing, initial effectiveness or continued use of a Registration Statement in respect of any Registration at any time (i) would require the Company to make an Adverse Disclosure, (ii) would require the inclusion in such Registration Statement of financial statements that are unavailable to the Company for reasons beyond the Company's control or (iii) in the good faith judgement of a majority of the Board, would be seriously detrimental to the Company and the Board concludes, as a result, that it is necessary to defer such filing, initial effectiveness, or continued use at such time, or (iv) if the majority of the Board, in its good faith judgment, determines to delay the filing or initial effectiveness of, or suspend the use of, a Registration Statement and such delay or suspension arises out of or is a result of, or is related to or is in connection with any publicly available written guidance of the Commission, or any comments requirements, or requests of the Commission Staff related to accounting, disclosure or other matters, then the Company may, upon giving prompt written notice of such action to the Holders, delay, postpone or suspend (i) the filing or initial effectiveness of, or suspend use of, such Registration Statement, and/or (ii) the launch of any Underwritten Offering, in each case, for the shortest period of time determined in good faith by the Company to be necessary for such purpose. In the event the Company exercises its rights under the preceding sentence, the Holders agree to suspend, immediately upon their receipt of the notice referred to above, their use of the Prospectus relating to any Registration in connection with any sale or offer to sell Registrable Securities until such Holder receives written notice from the Company that such sales or offers of Registrable Securities may be resumed, and in each case maintain the confidentiality of such notice and its contents. The Company shall immediately notify the Holders of the expiration of any period during which it exercised its rights under this <u>Section 4.4</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4.2 [Subject to <u>subsection 4.4.3</u>, during the period starting during the period starting with the date thirty (30) days prior to the Company's good faith estimate of the date of the filing of, and ending on a date ninety (90) days (or such shorter time as the managing Underwriters may agree) after the effective date of, a Company-initiated Registration and provided that the Company continues to actively employ, in good faith, all reasonable efforts to maintain the effectiveness of the applicable Shelf, or (b) if, pursuant to <u>subsection 3.1.5</u>, Holders have requested an Underwritten Shelf Takedown and the Company and Holders are unable to obtain the commitment of underwriters to firmly underwrite such offering, the Company may, upon giving prompt written notice of such action to the Holders, delay any other registered offering pursuant to <u>subsection 3.1.5</u>.]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4.3 The right to delay, postpone or suspend any filings, initial effectiveness or launch of any Underwritten Offering pursuant to <u>subsection 4.4.1</u> shall be exercised by the Company, in the aggregate, for not more than ninety (90) consecutive days or more than one hundred and eighty (150) total days in any twelve-month period

4.5 <u>Reporting Obligations</u>. As long as any Holder shall own Registrable Securities, the Company, at all times while it shall be a reporting company under the Exchange Act, covenants to file timely (or obtain extensions in respect thereof and file within the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to Sections 13(a) or 15(d) of the Exchange Act and to promptly furnish the Holders with true and complete copies of all such filings; provided that any documents publicly filed or furnished with the Commission pursuant to the Electronic Data Gathering, Analysis and Retrieval System shall be deemed to have been furnished or delivered to the Holders pursuant to this <u>Section 4.5</u>. The Company further covenants that it shall take such further action as any Holder may reasonably request, all to the extent required from time to time to enable such Holder to sell Registrable Securities held by such Holder without registration under the Securities Act within the limitation of the exemptions provided by Rule 144 promulgated under the Securities Act (or any successor rule promulgated thereafter by the Commission, to the extent that such rule or such successor rule is available to the Company), including providing any customary legal opinions. Upon the request of any Holder, the Company shall deliver to such Holder a written certification of a duly authorized officer as to whether it has complied with such requirements.

4.6 <u>Other Obligation</u>s. In connection with any sale or other disposition of the Registrable Securities by a Holder pursuant to Rule 144 promulgated under the Securities Act (or any successor rule promulgated thereafter by the Commission) and upon compliance by the Holder with the requirements of this <u>Section 4.6</u>, if requested by the Holder, the Company shall use commercially reasonable efforts to cause the transfer agent for the Registrable Securities (the "<u>Transfer Agent</u>") to remove any restrictive legends related to the book entry account holding such Registrable Securities and make a new, unlegended entry for such book entry shares sold or disposed of without restrictive legends within two (2) trading days of any such request therefor from the Holder; provided that the Company and the Transfer Agent have timely received from the Holder customary representations and other documentation reasonably acceptable to the Company and the Transfer Agent in connection therewith. Subject to receipt from the Holder by the Company and the Transfer Agent of customary representations and other documentation reasonably acceptable to the Company and the Transfer Agent in connection therewith, the Holder may request that the Company remove any legend from the book entry position evidencing its Registrable Securities and the Company will, if required by the Transfer Agent, use its commercially reasonable efforts cause an opinion of the Company's counsel be provided, in a form reasonably acceptable to the Transfer Agent, to the effect that the removal of such restrictive legends in such circumstances may be effected under the Securities Act, following the earliest of such time as such Registrable Securities (i) are subject to or have been or are about to be sold pursuant to an effective registration statement or (ii) have been or are about to be sold pursuant to Rule 144 promulgated under the Securities Act (or any successor rule promulgated thereafter by the Commission).

4.7 <u>Transfer Restrictions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7.1 During the Lock-Up Period, none of the Holders shall offer, sell, contract to sell, pledge, grant any option to purchase, make any short sale or otherwise dispose of or distribute any Equity Securities that are subject to the Lock-Up Period or any securities convertible into, exercisable for, exchangeable for or that represent the right to receive Equity Securities that are subject to the Lock-Up Period, whether now owned or hereinafter acquired, that is owned directly by such Holder (including securities held as a custodian) or with respect to which such Holder has beneficial ownership within the rules and regulations of the Commission (such securities that are subject to the Lock-Up Period, the "<u>Restricted Securities</u>"), other than (i) if the Holder is an entity, transfers to (A) such entity's officers or directors or any affiliate or immediate family (as defined below) of any of such entity's officers or directors, (B) any shareholder, partner or member of such entity or their affiliates, (C) any affiliate of such entity, or (D) any employees of such entity or of its affiliates; (ii) if the Holder is an individual, transfers by gift to members of the individual's immediate family or to a trust, or other entity formed for estate planning purposes for the primary benefit of the spouse, domestic partner, parent, sibling, child or grandchild of the undersigned or any other person with whom the undersigned has a relationship by blood, marriage or adoption not more remote than first cousin (such family members "immediate family"); (iii) if the Holder is an individual, transfers by will or intestate succession or by virtue of Laws of descent and distribution upon the death of the individual; (iv) if the Holder is an individual, transfers by operation of Law or pursuant to a qualified domestic order, court order or in connection with a divorce settlement, divorce decree or separation agreement; (v) if the Holder is a corporation, partnership (whether general, limited or otherwise), limited liability company, trust or other business entity, (A) transfers to another corporation, partnership, limited liability company, trust or other business entity that controls, is controlled by or is under common control or management with the Holder, or (B) distributions of Restricted Securities to partners, limited liability company members or shareholders of the Holder, including, for the avoidance of doubt, where the Holder is a partnership, to its general partner or a successor partnership or fund, or any other funds managed by such partnership; (vi) if the Holder is a trust or a trustee of a trust, transfers to a trustor or beneficiary of the trust, to the designated nominee of a beneficiary of such trust or to the estate of a beneficiary of such trust; (vii) if the Holder is an entity, transfers by virtue of the Laws of the jurisdiction of the entity's organization and the entity's organizational documents upon dissolution of the entity; (viii) transfers to a nominee or custodian of a person to whom a transfer would be permitted under the foregoing clauses (i) through (vii); (ix) pledges of any Restricted Securities to a financial institution that create a mere security interest in such Restricted Securities pursuant to a bona fide loan or indebtedness transaction so long as the relevant Holder continues to control the exercise of the voting rights of such pledged securities as well as any foreclosures on such pledged securities; (x) the exercise of stock options, including through a "net" or "cashless" exercise, or receipt of shares upon vesting of restricted stock units granted pursuant to an equity incentive plan; (xi) the entry, by the Holder of any trading plan providing for sale of shares of Restricted Securities by the Holder, which trading plan meets the requirements of Rule 10b5-1(c) under the Exchange Act, provided however that such plan does not provide for, or permit, the sale of any Restricted Securities during the Lock-up Period and no public announcement or filing is voluntarily made or required regarding such plan during the Lock-up Period; (xii) pursuant to any liquidation, successful takeover bid under Chapter 6 of the Corporations Act, merger by scheme of arrangement under Part 5.1 of the Corporations Act, share exchange or other similar transaction which results in all of the shareholders of the Company having the right to exchange their Company Shares for cash, securities or other property subsequent to the Closing; (xiii) transfers in connection with any legal, regulatory or other order; (xiv) transfers to the officers or directors of the Company or the Sponsor or their respective affiliates or (xv) any transfer or sale to enable Sponsor or its direct or indirect owners to pay taxes (including estimated taxes) arising in connection with the transactions described in the Transaction Agreement or the Sponsor Support Agreement (as defined in the Transaction Agreement) or make tax distributions in respect thereof. The foregoing restriction is expressly agreed to preclude each Holder, as applicable, from engaging in any hedging or other transaction with respect to Restricted Securities which is designed to or which reasonably could be expected to lead to or result in a sale or disposition of the Restricted Securities even if such Restricted Securities would be disposed of by someone other than such Holder. Such prohibited hedging or other transactions include any short sale or any purchase, sale or grant of any right (including any put or call option) with respect to any of the Restricted Securities of the applicable Holder, or with respect to any security that includes, relates to, or derives any significant part of its value from such Restricted Securities. Notwithstanding the foregoing, in each case (i) through (xv) such transfer shall be conditioned on the transferee entering into a written agreement with the Company agreeing to be bound by the transfer restrictions of this <u>Section 4.7</u>. For the purposes of this <u>subsection 4.7.1</u>, "successful takeover bid" means one where the holders of at least 50% of the bid class securities that are not subject to the Lock-Up Period, and to which the offers under the bid relate, have accepted. For the avoidance of doubt, where a takeover bid does not become unconditional, the securities will revert to being subject to the Lock-Up Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7.2 Each Holder hereby represents and warrants that it now has and, except as contemplated by <u>subsection 4.7.1</u> or this <u>subsection 4.7.2</u> for the duration of the Lock-Up Period, will have good and marketable title to its Restricted Securities, free and clear of all liens, encumbrances, and claims that could impact the ability of such Holder to comply with the foregoing restrictions. Each Holder agrees and consents to the entry of stop transfer instructions with the Company's transfer agent and registrar against the transfer of any Restricted Securities during the Lock-Up Period. The Company shall reasonably cooperate with Holders to permit any transfer or sale described in clauses (i) through (xv) of <u>subsection 4.7.1</u>, including by causing the temporary removal of any such stop transfer instructions to the extent reasonably necessary to permit any such transfer or sale.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7.3 The provisions in this <u>Section 4.7</u> shall supersede the lock-up provisions contained in Section 7 of the Letter Agreement, which provision in Section 7 of the Letter Agreement shall be of no further force or effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7.4 This provisions in this <u>Section 4.7</u> shall be binding on the undersigned and the successors, heirs, personal representatives and assigns of the undersigned.

**Article V<br> INDEMNIFICATION AND CONTRIBUTION**

5.1 <u>Indemnification</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1.1 In connection with any Registration Statement in which a holder of Registrable Securities is participating, the Company agrees to indemnify, to the extent permitted by law, each such Holder of Registrable Securities, its officers and directors and each Person who controls such Holder (within the meaning of the Securities Act) against all losses, claims, damages, liabilities and reasonable and documented out-of-pocket expenses (including reasonable and documented attorneys' fees) caused by any Misstatement or alleged Misstatement contained in any Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein, in the case of the Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto, in light of the circumstances under which it was made, not misleading, except insofar as the same are caused by or contained in any information furnished in writing to the Company by such Holder expressly for use therein. The Company shall indemnify the Underwriters, their officers and directors and each Person who controls such Underwriters (within the meaning of the Securities Act) to the same extent as provided in the foregoing with respect to the indemnification of the Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1.2 In connection with any Registration Statement in which a Holder of Registrable Securities is participating, such Holder shall furnish to the Company in writing such information and affidavits as the Company reasonably requests for use in connection with any such Registration Statement or Prospectus (the "<u>Holder Information</u>") and, to the extent permitted by Law, shall, severally and not jointly, indemnify the Company, its directors, officers and agents and each Person who controls the Company (within the meaning of the Securities Act) and any other Holders of Registrable Securities participating in the Registration, against any losses, claims, damages, liabilities and reasonable and documented out-of-pocket expenses (including without limitation reasonable and documented attorneys' fees) resulting from any Misstatement or alleged Misstatement contained in the Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission of a material fact required to be stated therein or necessary to make the statements therein, in the case of the Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto, in light of the circumstances under which it was made, not misleading, but only to the extent that such Misstatement or omission is contained in (or not contained in, in the case of an omission) any information or affidavit so furnished in writing by or on behalf of such Holder expressly for use therein; <u>provided</u>, <u>however</u>, that the obligation to indemnify shall be several, not joint and several, among such Holders of Registrable Securities, and the liability of each such Holder of Registrable Securities shall be limited to the net proceeds received by such Holder from the sale of Registrable Securities pursuant to such Registration Statement. The Holders of Registrable Securities shall indemnify the Underwriters, their officers, directors and each Person who controls such Underwriters (within the meaning of the Securities Act) to the same extent as provided in the foregoing with respect to indemnification of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1.3 Any Person entitled to indemnification herein shall (i) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any Person's right to indemnification hereunder to the extent such failure has not materially prejudiced the indemnifying party) and (ii) unless in such indemnified party's reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability for any settlement made by the indemnified party without its consent (but such consent shall not be unreasonably withheld). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect to such claim (and, if necessary, one local counsel), unless in the reasonable judgment of any indemnified party a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to such claim. No indemnifying party shall, without the consent of the indemnified party, consent to the entry of any judgment or enter into any settlement which cannot be settled in all respects by the payment of money (and such money is so paid by the indemnifying party pursuant to the terms of such settlement) or which settlement does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1.4 The indemnification provided for under this Agreement shall remain in full force and effect regardless of any investigation made by or on behalf of the indemnified party or any officer, director or controlling Person of such indemnified party and shall survive the transfer of securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1.5 If the indemnification provided under <u>Section 5.1</u> hereof from the indemnifying party is unavailable or insufficient to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities and documented out-of-pocket expenses referred to herein, then the indemnifying party, in lieu of indemnifying the indemnified party, shall to the extent permitted by law contribute to the amount paid or payable by the indemnified party as a result of such losses, claims, damages, liabilities and documented out-of-pocket expenses in such proportion as is appropriate to reflect the relative fault of the indemnifying party and the indemnified party, as well as any other relevant equitable considerations. The relative fault of the indemnifying party and indemnified party shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact, was made by (or not made by, in the case of an omission), or relates to information supplied by (or not supplied by, in the case of an omission), such indemnifying party or indemnified party, and the indemnifying party's and indemnified party's relative intent, knowledge, access to information and opportunity to correct or prevent such action; <u>provided</u>, <u>however</u>, that the liability of any Holder under this <u>subsection 5.1.5</u> shall be limited to the amount of the net proceeds received by such Holder in such offering giving rise to such liability, except in the case of fraud or willful misconduct by such Holder. The amount paid or payable by a party as a result of the losses or other liabilities referred to above shall be deemed to include, subject to the limitations set forth in <u>subsections 5.1.1</u>, <u>5.1.2</u> and <u>5.1.3</u> above, any legal or other fees, charges or documented out-of-pocket expenses reasonably incurred by such party in connection with any investigation or proceeding. The parties hereto agree that it would not be just and equitable if contribution pursuant to this <u>subsection 5.1.5</u> were determined by pro rata allocation or by any other method of allocation, which does not take account of the equitable considerations referred to in this <u>subsection 5.1.5</u>. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution pursuant to this <u>subsection 5.1.5</u> from any Person who was not guilty of such fraudulent misrepresentation.

**Article VI<br> MISCELLANEOUS**

6.1 <u>Notices</u>. Any notice or communication under this Agreement must be in writing and given by (i) deposit in the United States mail, addressed to the party to be notified, postage prepaid and registered or certified with return receipt requested, (ii) delivery in person or by courier service providing evidence of delivery, or (iii) transmission by hand delivery, electronic mail or facsimile. Each notice or communication that is mailed, delivered, or transmitted in the manner described above shall be deemed sufficiently given, served, sent, and received, in the case of mailed notices, on the third Business Day following the date on which it is mailed and, in the case of notices delivered by courier service, hand delivery, electronic mail, telecopy, telegram or facsimile, at such time as it is delivered to the addressee (with the delivery receipt or the affidavit of messenger) or at such time as delivery is refused by the addressee upon presentation. Any notice or communication under this Agreement must be addressed, if to the Company to: [ ], Attn: [ ], E-mail: [ ], and, if to any Holder, at such Holder's address or facsimile number as set forth in the Company's books and records. Any party may change its address for notice at any time and from time to time by written notice to the other parties hereto, and such change of address shall become effective thirty (30) days after delivery of such notice as provided in this <u>Section 6.1</u>.

6.2 <u>Representations and Warranties of the Parties</u>. Each of the Parties hereby represents and warrants to each of the other Parties as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2.1 Such Party, to the extent applicable, is duly organized or incorporated, validly existing and in good standing under the laws of the jurisdiction of its organization or incorporation and has all requisite power and authority to conduct its business as it is now being conducted and is proposed to be conducted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2.2 Such Party has the full power, authority and legal right to execute, deliver and perform this Agreement. The execution, delivery and performance of this Agreement have been duly authorized by all necessary action, corporate or otherwise, of such Party. This Agreement has been duly executed and delivered by such Party and constitutes its, his or her legal, valid and binding obligation, enforceable against it, him or her in accordance with its terms, subject to applicable bankruptcy, insolvency and similar laws affecting creditors' rights generally.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2.3 The execution and delivery by such Party of this Agreement, the performance by such Party of its, his or her obligations hereunder by such Party does not and will not violate (i) in the case of Parties who are not individuals, any provision of its by-laws, charter, articles of association, partnership agreement or other similar organizational document, (ii) any provision of any material agreement to which it, he or she is a Party or by which it, he or she is bound or (iii) any law, rule, regulation, judgment, order or decree to which it, he or she is subject.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2.4 Such Party is not currently in violation of any law, rule, regulation, judgment, order or decree, which violation could reasonably be expected at any time to have a material adverse effect upon such Party's ability to enter into this Agreement or to perform its, his or her obligations hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2.5 There is no pending legal action, suit or proceeding that would materially and adversely affect the ability of such Party to enter into this Agreement or to perform its, his or her obligations hereunder.

6.3 <u>Not a Group; Independent Nature of Holders' Obligations and Rights.</u> The Holders and the Company agree that the arrangements contemplated by this Agreement are not intended to constitute the formation of a "group" (as defined in Section 13(d)(3) of the Exchange Act). Each Holder agrees that, for purposes of determining beneficial ownership of such Holder, it shall disclaim any beneficial ownership by virtue of this Agreement of the Company's Equity Securities owned by the other Holders, and the Company agrees to recognize such disclaimer in its Exchange Act and Securities Act reports. The obligations of each Holder under this Agreement are several and not joint with the obligations of any other Holder, and no Holder shall be responsible in any way for the performance of the obligations of any other Holder under this Agreement. Nothing contained herein, and no action taken by any Holder pursuant hereto, shall be deemed to constitute the Holders as, and the Company acknowledges that the Holders do not so constitute, a partnership, an association, a joint venture or any other kind of group or entity, or create a presumption that the Holders are in any way acting in concert or as a group or entity with respect to such obligations or the transactions contemplated by this Agreement, and the Company acknowledges that the Holders are not acting in concert or as a group, and the Company shall not assert any such claim, with respect to such obligations or the transactions contemplated by this Agreement. The decision of each Holder to enter into this Agreement has been made by such Holder independently of any other Holder. Each Holder acknowledges that no other Holder has acted as agent for such Holder in connection with such Holder making its investment in the Company and that no other Holder will be acting as agent of such Holder in connection with monitoring such Holder's investment in Company Shares or enforcing its rights under this Agreement. The Company and each Holder confirms that each Holder has had the opportunity to independently participate with the Company and its subsidiaries in the negotiation of the transaction contemplated hereby with the advice of its own counsel and advisors. Each Holder shall be entitled to independently protect and enforce its rights, including, without limitation, the rights arising out of this Agreement, and it shall not be necessary for any other Holder to be joined as an additional party in any proceeding for such purpose. The use of a single agreement to effectuate the rights and obligations contemplated hereby was solely in the control of the Company, not the action or decision of any Holder, and was done solely for the convenience of the Company and its subsidiaries and not because it was required to do so by any Holder. It is expressly understood and agreed that each provision contained in this Agreement is between the Company and a Holder, solely, and not between the Company and the Holders collectively and not between and among the Holders.

6.4 <u>Assignment; No Third Party Beneficiaries</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4.1 This Agreement and the rights, duties and obligations of the Company hereunder may not be assigned or delegated by the Company in whole or in part.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4.2 Prior to the expiration of any Lock-up Period, no Holder subject to any such Lock-Up Period may assign or delegate such Holder's rights, duties or obligations under this Agreement, in whole or in part, except in connection with a transfer to a Permitted Transferee; <u>provided</u> that such Permitted Transferee agrees to be bound by the terms of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4.3 After the expiration of the Lock-up Period to the extent applicable to such Holder, a Holder may assign or delegate such Holder's rights, duties or obligations under this Agreement, in whole or in part, to (a) Permitted Transferees, provided, however, that each such Permitted Transferee holds, after giving effect to such assignment or delegation, at least five percent (5%) of the then-outstanding Company Shares, (b) an Affiliate of such Holder, or (c) any Person with the prior written consent of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4.4 This Agreement and the provisions hereof shall be binding upon and shall inure to the benefit of each of the parties and its successors and the permitted assigns of the Holders, which shall include Permitted Transferees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4.5 This Agreement shall not confer any rights or benefits on any Persons that are not parties hereto, other than as expressly set forth in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4.6 No assignment by any party hereto of such party's rights, duties and obligations hereunder shall be binding upon or obligate the Company unless and until the Company shall have received (i) written notice of such assignment as provided in <u>Section 6.1</u> hereof and (ii) the written agreement of the assignee, in a form reasonably satisfactory to the Company, to be bound by the terms and provisions of this Agreement (which may be accomplished by an addendum or certificate of joinder to this Agreement). Any transfer or assignment made other than as provided in this <u>Section 6.6</u> shall be null and void.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4.7 A transferee receiving Registrable Securities from a SPAC Holder shall become a SPAC Holder under this Agreement, and a transferee receiving Registrable Securities from a Vast Holder shall become a Vast Holder under this Agreement.

6.5 <u>Severability</u>. This 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 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 Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible that is valid and enforceable.

6.6 <u>Entire Agreement</u>. This Agreement (including all agreements entered into pursuant hereto and all certificates and instruments delivered pursuant hereto and thereto) constitute the entire agreement of the parties with respect to the subject matter hereof and supersede all prior and contemporaneous agreements, representations, understandings, negotiations and discussions between the parties, whether oral or written.

6.7 <u>Counterparts</u>. This Agreement may be executed in multiple counterparts (including facsimile or .PDF counterparts), each of which shall be deemed an original, and all of which together shall constitute the same instrument, but only one of which need be produced.

6.8 <u>Governing Law; Venue</u>. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware applicable to contracts executed in and to be performed in that State. All legal actions and proceedings arising out of or relating to this Agreement shall be heard and determined exclusively in any Delaware Chancery Court; *provided*, that if jurisdiction is not then available in the Delaware Chancery Court, then any such legal action may be brought in any federal court located in the State of Delaware or any other Delaware state court. The parties hereto hereby (a) irrevocably submit to the exclusive jurisdiction of the aforesaid courts for themselves and with respect to their respective properties for the purpose of any action arising out of or relating to this Agreement brought by any party hereto, and (b) agree not to commence any action relating thereto except in the courts described above in Delaware, other than actions in any court of competent jurisdiction to enforce any judgment, decree or award rendered by any such court in Delaware as described herein. Each of the parties further agrees that notice as provided herein shall constitute sufficient service of process and the parties further waive any argument that such service is insufficient. Each of the parties hereby irrevocably and unconditionally waives, and agrees not to assert, by way of motion or as a defense, counterclaim or otherwise, in any action arising out of or relating to this Agreement or the transactions contemplated hereby, (i) any claim that it is not personally subject to the jurisdiction of the courts in Delaware as described herein for any reason, (ii) that it or its property is exempt or immune from jurisdiction of any such court or from any legal process commenced in such courts (whether through service of notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise) and (iii) that (A) the action in any such court is brought in an inconvenient forum, (B) the venue of such action is improper or (C) this Agreement, or the subject matter hereof, may not be enforced in or by such courts.

6.9 <u>TRIAL BY JURY</u>. EACH PARTY HERETO ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND, THEREFORE, EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT.

6.10 <u>Amendments and Modifications</u>. Upon the written consent of the Company and the Holders of at least a majority in interest of the Registrable Securities at the time in question, compliance with any of the provisions, covenants and conditions set forth in this Agreement may be waived, or any of such provisions, covenants or conditions may be amended or modified; <u>provided</u>, <u>however</u>, that notwithstanding the foregoing, any amendment hereto or waiver hereof that adversely affects one Holder, solely in its capacity as a holder of the shares of the Company, in a manner that is materially different from the other Holders (in such capacity) shall require the consent of the Holder so affected. No course of dealing between any Holder or the Company and any other party hereto or any failure or delay on the part of a Holder or the Company in exercising any rights or remedies under this Agreement shall operate as a waiver of any rights or remedies of any Holder or the Company. No single or partial exercise of any rights or remedies under this Agreement by a party shall operate as a waiver or preclude the exercise of any other rights or remedies hereunder or thereunder by such party. Any amendment, termination, or waiver effected in accordance with this <u>Section 6.10</u> shall be binding on each party hereto and all of such party's successors and permitted assigns, regardless of whether or not any such party, successor or assignee entered into or approved such amendment, termination, or waiver.

6.11 <u>Other Registration Rights</u>. The Company represents and warrants that no Person, other than (a) a Holder of Registrable Securities, (b) the subscriber parties to that certain Subscription Agreement, dated as of [ ], 2023, by and among SPAC, Vast and the subscriber parties thereto and (c) the holders of warrants pursuant to that certain Private Warrant Agreement, dated as of November 16, 2021, by and between SPAC and Continental Stock Transfer & Trust Company, and that certain Public Warrant Agreement, dated as of November 16, 2021, by and between SPAC and Continental Stock Transfer & Trust Company (as assumed by the [Warrant Assumption Agreement]), has any right to require the Company to register any securities of the Company for sale or to include such securities of the Company in any Registration Statement filed by the Company for the sale of securities for its own account or for the account of any other Person. Further, the Company represents and warrants that this Agreement supersedes any other registration rights agreement or agreement with similar terms and conditions, including the Original RRA and, to the extent set forth in <u>Section 4.7</u>, the Letter Agreement, and in the event of a conflict between any such agreement or agreements and this Agreement, the terms of this Agreement shall prevail. The Company agrees that (i) it shall not hereafter enter into any agreement with respect to its securities which is inconsistent with or violates the rights granted to the Holders hereunder, and (ii) it shall not grant any registration rights to third parties which are more favorable than the rights granted hereunder unless are such more favorable rights are concurrently added to the rights granted hereunder.

6.12 <u>Waivers and Extensions</u>. Any party to this Agreement may waive any right, breach or default which such party has the right to waive, <u>provided</u>, that such waiver will not be effective against the waiving party unless it is in writing, is signed by such party, and specifically refers to this Agreement. Waivers may be made in advance or after the right waived has arisen or the breach or default waived has occurred. Any waiver may be conditional. No waiver of any breach of any agreement or provision herein contained shall be deemed a waiver of any preceding or succeeding breach thereof nor of any other agreement or provision herein contained. No waiver or extension of time for performance of any obligations or acts shall be deemed a waiver or extension of the time for performance of any other obligations or acts.

6.13 <u>Termination of Original RRA</u>. Upon the Closing, SPAC, Sponsor, and the other SPAC Holders party thereto hereby agree that the Original RRA and all of the respective rights and obligations of the parties thereunder are hereby terminated in their entirety and shall be of no further force or effect.

6.14 <u>Term</u>. This Agreement shall terminate upon the earlier of (i) the fourth anniversary of the date of this Agreement and (ii) with respect to and as to any Holder, when such Holder, following the Closing, ceases to Beneficially Own any Registrable Securities or any securities which are convertible or exchangeable into Registrable Securities.

6.15 <u>Remedies Cumulative</u>. In the event that the Company fails to observe or perform any covenant or agreement to be observed or performed under this Agreement, the Holders may proceed to protect and enforce its rights by suit in equity or action at law, whether for specific performance of any term contained in this Agreement or for an injunction against the breach of any such term or in aid of the exercise of any power granted in this Agreement or to enforce any other legal or equitable right, or to take any one or more of such actions, without being required to post a bond. None of the rights, powers or remedies conferred under this Agreement shall be mutually exclusive, and each such right, power or remedy shall be cumulative and in addition to any other right, power or remedy, whether conferred by this Agreement or now or hereafter available at law, in equity, by statute or otherwise.

6.16 <u>Holder Information</u>. Each Holder agrees, if requested in writing, to represent to the Company the total number of Registrable Securities held by such Holder in order for the Company to make determinations hereunder for the purposes of the filing of a Registration Statement or Prospectus or otherwise as reasonably determined by the Company.

6.17 <u>Legends</u>. Each of the Holders acknowledges that (i) no transfer, hypothecation or assignment of any Registrable Securities Beneficially Owned by such Holder may be made except in compliance with applicable federal and state securities laws and (ii) the Company shall place customary restrictive legends on the certificates or book entries representing the Registrable Securities subject to this Agreement.

6.18 <u>Adjustments</u>. If, and as often as, there are any changes in Company Shares by way of stock split, stock dividend, combination or reclassification, or through merger, consolidation, reorganization, recapitalization or sale, or by any other means, equitable adjustment shall be made in the provisions of this Agreement, as may be required, so that the rights, privileges, duties and obligations hereunder shall continue with respect to Company Shares as so changed.

IN WITNESS WHEREOF, the undersigned have caused this Agreement to be executed as of the date first written above.

---

| |
|:---|
| **COMPANY:** |
| VAST SOLAR PTY LTD |
| By: |
| Name: |
| Title: |
| **SPAC:** |
| NABORS ENERGY TRANSITION CORP. |
| By: |
| Name: |
| Title: |
| **SPONSOR:** |
| NABORS ENERGY TRANSITION SPONSOR LLC |
| By: |
| Name: |
| Title: |
| **SPAC HOLDERS** |
| By: |
| Name: |
| Title: |
| **VAST HOLDERS** |
| By: |
| Name: |
| Title: |

---

[Signature Page to Shareholder and Registration Rights Agreement]

**Schedule I**

**Investors**

**EXHIBIT B**

Form of Second Amended and Restated Certificate of Incorporation of Surviving Corporation

[Attached]

Exhibit B-1

**EXHIBIT C**

Form of Amended and Restated Bylaws of Surviving Corporation

[Attached]

Exhibit C-1

**EXHIBIT D**

Form of Constitution of Company

Exhibit D-1

**Exhibit D**

**Constitution**

**Vast Solar Limited**

**ACN 136 258 574**

**Table of Contents** 

**Page**

1. Definitions and
 interpretation 1

2. Share capital 3

3. Lien 6

4. Calls on shares 7

5. Forfeiture of shares 9

6. Transfer of shares 10

7. Transmission of shares 12

8. General meetings 13

9. Proceedings at general meetings 20

10. The Directors 28

11. Powers and duties of Directors 31

12. Proceedings of Directors 31

13. Officers 35

14. Inspection of records 36

15. Dividends and reserves 36

16. Capitalisation of profits 38

17. Notices 39

18. Winding up 40

19. Indemnity and insurance 41

20. General 41

---

| | | |
|:---|:---|:---|
| **Schedule 1** | **Terms of preference shares** | **44** |

---

1. Dividend rights
 and priority of payment 44

2. Entitlement to payment of
 capital sum 45

3. Bonus issues and capitalisation
 of profits 45

4. Voting rights 45

5. Meeting 46

6. Foreign Currency 46

7. Conversion to ordinary shares 46

8. Amendment to the terms 47

9. Variation of rights 47

10. Further issue of shares 47

(i) **Date of adoption: [ ], 2023**

**Vast Solar Limited**

**ACN 136 258 574**

**A public company limited by shares**

1. Definitions
 and interpretation

1.1 Definitions

In this constitution:

"**Act**" means the *Corporations Act 2001* (Cth);

"**Applicable Law**" means the laws, rules and regulations applicable to the Company, including the Companies Act, the Securities Act, the Exchange Act, the rules of the SEC, the Listing Rules of any stock exchange and FINRA Rules;

"**Board**" means the board of Directors.

"**Business Day**" means a day other than a Saturday or Sunday on which banks are generally open for business in Sydney, New South Wales;

"**Committee**" means a committee of Directors constituted under rule 11.5(a);

"**Company**" means Vast Solar Ltd (ACN 136 258 574), as that name may be changed from time to time;

"**Directors**" means the directors of the Company acting as a body, and includes any person occupying the position of a director, by whatever name called;

"**Exchange**" means any stock exchange on which shares (or securities) in the Company are listed;

"**Listing Rules**" means the rules and regulations (including operating rules) of any Exchange;

"**Members**" means the shareholders of the Company entered in the Register as a holder of shares in the capital of the Company;

"**Ordinary Resolution**" means a resolution that is passed by more than 50% of the votes cast by shareholders entitled to vote (either on a show of hands at the meeting or by the inclusion of proxies if on a poll) being in favour of the resolution;

"**Prescribed Interest Rate**" means the rate determined by the Directors for the purpose of this constitution, and in the absence of a determination means the daily buying rate displayed at or about 10:30am (Sydney, New South Wales time) on the Reuter screen BBSW page for Australian bank bills of a three month duration;

"**Register**" means the register of Members of the Company; and

"**Secretary**" means any person appointed to perform the duties of a secretary of the Company and includes any person to act as such temporarily.

"**Special Resolution**" means a resolution that is passed by 75% (i.e., at least three quarters) of the votes cast by shareholders entitled to vote (either on a show of hands at the meeting or by the inclusion of proxies if on a poll) being in favour of the resolution.

1.2 Interpretation

In this constitution, unless the context otherwise requires:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) headings
 are for convenience only and do not affect the interpretation of this constitution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) words in
 the singular include the plural and vice versa;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) a gender
 includes all genders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) if a word
 or phrase is defined all its other grammatical forms have a corresponding meaning;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) references
 to "**include**" or "**including**" are to be construed without
 limitation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) references
 to this "**constitution**" or any document are to this constitution or document
 as amended, varied, supplemented novated or replaced (in each case, other than in breach
 of the provisions of this constitution or such other document);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) each schedule
 forms part of this constitution and has effect as if set out in full in the body of this
 constitution and any reference to this constitution includes each schedule;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) references
 to a "**person**" include any individual, corporation, trust, joint venture,
 organisation, government, committee, department, authority, partnership, unincorporated body
 or other entity (whether or not having separate legal personality) and that person's
 representatives, successors, permitted substitutes or permitted assigns;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) references
 to a "**person**" include that party's representatives, successors,
 permitted substitutes or permitted assigns;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) references
 to legislation or a legislative instrument are to that legislation or legislative instrument
 as amended, varied, supplemented, replaced or re-enacted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) references
 to conduct include an omission, statement or undertaking, whether or not in writing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) references
 to time are to Sydney, New South Wales, Australia time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) references
 to "**writing**" or "**written**" include any method of reproducing
 words, figures, drawings or symbols in a visible and tangible form and include communication
 by email;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) references
 to "**dollars** ", "**$** ", "**AUD**" or "**A$** "
 is to the lawful currency of Australia;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) a power,
 an authority or a discretion given to a Director, the Directors or the Company in general
 meeting or a Member may be exercised at any time and from time to time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) a chairperson
 appointed under this constitution may be referred to as chairperson, chairwoman, or as chair,
 as appropriate; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) a reference
 to a person being "**present**" at a meeting includes participating using
 technology approved by the Directors in accordance with this constitution.

1.3 Business Day

In this constitution, unless otherwise stated:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) subject
 to rule 1.3(b), where the day on which a thing is to be done is not a Business Day, that
 thing must be done on the preceding Business Day; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) where the
 day on which a payment is to be made is not a Business Day, that payment must be made on
 the next Business Day in the same calendar month or, if none, the preceding Business Day
 and any interest must be adjusted accordingly.

1.4 Constitution

In this constitution unless the contrary intention appears:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) a word or
 discussion defined or used in the Act or the Listing Rules has the same meaning when used
 in this constitution; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "section"
 means a section of the Act.

1.5 Effect of the
 Listing Rules

While the Company is listed on any Exchange, the following provisions apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) nothing
 contained in this Constitution prevents an act being done that the Listing Rules require
 to be done;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if the Listing
 Rules require an act to be done or not to be done, authority is given for that act to be
 done or not done (as the case may be);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if the Listing
 Rules require this Constitution to contain a provision and it does not contain such a provision,
 this Constitution is deemed to contain that provision;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) if the Listing
 Rules require this Constitution not to contain a provision and it contains such a provision,
 this Constitution is deemed not to contain that provision; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) if any provision
 of this Constitution is or becomes inconsistent with the Listing Rules, this Constitution
 is deemed not to contain that provision to the extent of the inconsistency.

1.6 Replaceable
 rules not to apply

The provisions of the Act that apply as replaceable rules are dispatched by this constitution and do not apply to the Company.

2. Share
 capital

2.1 Directors to
 issues shares

The issue of shares in the Company is under the control of the Directors who may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) issue, allot
 and cancel or otherwise dispose of shares in the Company or grant options over any unissued
 shares in the Company to any person, on any terms and conditions and having attached to them
 such rights and restrictions as the Directors think fit; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) settle the
 manner in which fractions of a share, however arising, are to be dealt with,

subject to the Act, the Listing Rules and any special rights conferred on the holders of any shares or class of shares.

2.2 Preference shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company
 may issue preference shares and issued shares may be converted into preference shares provided
 that the rights of the holders of the preference shares with respect to the repayment of
 capital, participation in surplus assets and profits, cumulative or non-cumulative dividends,
 voting and priority of payment of capital and dividends in relation to other shares or other
 classes of preference shares are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) as set out
 in Schedule 1; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) as approved
 by Special Resolution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The rights
 of holders of preference shares issued by the Company other than pursuant to Schedule 1,
 but in accordance with the Act, are determined by the terms of issue of those preference
 shares and the relevant resolution of the Company and are not determined by or affected by
 the rights set out in Schedule 1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Subject
 to the Act and the Listing Rules, the Company may issue preference shares which are, or are
 at the option of the Company to be liable, to be redeemed or to be converted into other shares
 on such conditions and in such a manner as the Directors decide under the terms of issue
 of the preference shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Subject
 to the Act and the Listing Rules, the Company may issue any combination of fully paid, partly
 paid or unpaid preference shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Despite
 this rule 2.2 and Schedule 1, the Company may not issue a preference share that confers on
 the holder rights that are inconsistent with those specified in the Listing Rules, except
 to the extent of any waiver or modification of the Listing Rules.

2.3 Certificates

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If the Company
 participates in a computerised or electronic share transfer system conducted in accordance
 with the Listing Rules, the Company is not required to issue a certificate for the shares
 held by a holder and may cancel a certificate without issuing another certificate where permitted
 to do so by the Listing Rules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Share certificates
 representing shares, if any, shall be in such form as the Directors may determine. Share
 certificates shall be signed by one or more Directors or other persons authorised by the
 Directors. The Directors may authorise certificates to be issued with the authorised signature(s)
 affixed by mechanical process or as otherwise permissible under Applicable Law. All certificates
 for shares shall be consecutively numbered or otherwise identified and shall specify the
 shares to which they relate. All certificates surrendered to the Company for transfer shall
 be cancelled and subject to this constitution, no new certificate shall be issued until the
 former certificate representing a like number of relevant shares shall have been surrendered
 and cancelled.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company
 shall not be bound to issue more than one certificate for shares held jointly by more than
 one person and delivery of a certificate to one joint holder shall be a sufficient delivery
 to all of them.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If a share
 certificate is defaced, worn out, lost or destroyed, it may be renewed on such terms (if
 any) as to evidence and indemnity and on the payment of such expenses reasonably incurred
 or sustained by the Company in investigating evidence, as the Directors may prescribe, and
 (in the case of defacement or wearing out) upon delivery of the old certificate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Every share
 certificate sent in accordance with this constitution will be sent at the risk of the Member
 or other person entitled to the certificate. The Company will not be responsible for any
 share certificate lost or delayed in the course of delivery.

2.4 Variation of
 rights

Subject to the Act and the terms of issue of a class of shares, the Company may vary all or any of the rights or privileges attached to that class of shares, whether or not the Company is being wound up by Special Resolution:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) being passed
 at a separate meeting of the Members holding the issued shares of that class; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) with the
 consent in writing of the Members holding 75% of the issued shares of that class.

2.5 Class meetings

The provisions of this constitution relating to general meetings apply so far as they are capable of application (with any necessary changes) to a separate meeting of the holders of a class of shares except that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) a quorum
 is constituted by at least two persons who, between them, hold or represent at least one-third
 of the issued shares of the class (unless only one person holds all of the shares of the
 class, in which case that person constitutes a quorum); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any holder
 of shares of the class, present in person or by proxy, or attorney or representative, may
 demand a poll.

2.6 Alteration of
 share capital

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company
 may alter its share capital in any manner permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Where fractions

 2.6(a), the Directors may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) make cash
 payments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) decide that
 fractions of shares are to be disregarded or rounded down to the nearest whole share; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) decide that
 fractions of shares are to be rounded up to the nearest whole share by capitalising any amount
 available for capitalisation under rule 16 even though only some of the Members may participate
 in that capitalisation.

2.7 Non-recognition
 of interests

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except as
 required by law, the Company is entitled to treat the registered holder of a share as the
 absolute owner of that share and is not required to recognise:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a person as
 holding a share on any trust; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any other
 interest in any share or any other right in respect of a share except as an absolute right
 of ownership in the registered holder,

whether or not it has notice of the trust, interest or right.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) With the
 consent of the Directors, shares held by a trustee may be marked in the Register in such
 a way as to identify them as being held subject to the relevant trust, provided that nothing
 in this rule 2.7(b) limits the operation of rule 2.7(a).

2.8 Joint holder
 of shares

Where two or more persons are registered as the joint holders of shares then they are taken to hold the shares as joint tenants with rights of survivorship. However, the Company is not bound:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to register
 more than three persons as joint holders of a share; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) issue more
 than one certificate or holding statement for shares jointly held.

3. Lien

3.1 Lien on shares,
 loans and distributions

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company
 has a first and paramount lien on every share for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) all due and
 unpaid calls and instalments in respect of that share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) all money
 which the Company is required by law to pay, and has paid, in respect of that share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) reasonable
 interest on the amount due from the date it becomes due until payment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) on each share
 acquired under an employee incentive scheme for any money payable to the Company by the holder
 for the acquisition of the share, including, subject to Applicable Law, any loan under an
 employee incentive scheme; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) reasonable
 expenses of the Company in respect of the default on payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A lien on
 a share under rules 3.1(a) extends to all distributions for that share, including dividends.

3.2 Exemption or
 extinguishment

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Directors
 may at any time exempt a share wholly or in part from the provisions of rules 3.1(a).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company's
 lien on a share is extinguished if a transfer of the share is registered without the Company
 giving notice of the lien to the transferee.

3.3 Company's
 right to recover payments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) A Member
 must reimburse the Company on demand in writing for all payments the Company makes to a government
 or taxing authority in respect of the Member, the death of a Member or the Member's
 shares, including dividends, where the Company is either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) required by
 law to make the relevant payment; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) advised by
 a lawyer qualified to practice in the jurisdiction of the relevant government or taxing authority
 that the Company is obliged by law to make the relevant payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company
 is not obliged to advise the Member in advance of its intention to make the payment.

3.4 Reimbursement
 is a debt due

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The obligation
 of a Member to reimburse the Company is a debt due to the Company as if it were a call on
 all the Member's shares, duly made at the time when the written demand for reimbursement
 is given by the Company to the Member.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The provisions
 of this constitution relating to non-payment of calls in respect of shares, including payment
 of interest and sale of the Member's shares under lien, apply to the debt.

3.5 Sale under lien

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject
 to the Act, the Company may sell, in any manner the Directors think fit, any share on which
 the Company has a lien, provided that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) an amount
 in respect of which the lien exists is presently payable; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Company
 has, not less than fourteen (14) days before the date of sale, given to the registered holder
 of the share or the person entitled to the share by reason of the death or bankruptcy of
 the registered holder, a notice setting out, and demanding payment of, the amount which is
 presently payable in respect of which the lien exists.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) For the
 purposes of giving effect to a sale under rule 3.5(a), the Company may receive the consideration,
 if any, given for the share so sold and may execute a transfer of the share sold in favour
 of the purchaser of the share, or do all such other things as may be necessary or appropriate
 for it to do to effect the transfer. The purchaser is not bound to see to the application
 of the purchase money.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The title
 of the purchaser to the share is not affected by any irregularity or invalidity in connection
 with the sale of the share under rule 3.5(a).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The proceeds
 of a sale under rule 3.5(a) must be applied by the Company in payment of the amount in respect
 of which the lien exists as is presently payable, and the residual, if any, must be paid
 to the person entitled to the share immediately before the sale.

3.6 Continuing liability

If the net proceeds from the sale or other disposal under this rule 3 are less than the sum of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the amount
 due but unpaid in respect of that share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the costs
 and expenses paid or payable in connection with the enforcement of the lien and the sale
 or other disposal; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) interest
 on those amounts,

(together the "**Shortfall**") the person whose share has been sold or otherwise disposed of continues to be liable and must pay to the Company an amount equal to the Shortfall together with interest at the Prescribed Interest Rate.

4. Calls
 on shares

4.1 Directors to
 make calls

Subject to this constitution and to the terms on which any shares are issued, the Directors may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) make calls
 on a Member for any amount unpaid on the shares of that Member, if the money is not by the
 terms of issue of those shares made payable at fixed times;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) on the issue
 of shares, differentiate between the holders of the shares as to the amount of calls to be
 made and the times of payment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) make a call
 payable by instalments; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) revoke or
 postpone a call.

4.2 Time of call

A call is taken to be made at the time when the resolution of the Directors authorising the call is passed.

4.3 Members'
 liability

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) On receiving
 not less than twenty (20) Business Days' notice specifying the time(s) and place of
 payment, each Member must pay to the Company by the time(s) and at the place specified in
 the notice, the amount called on that Member's shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The joint
 holders of a share are jointly and individually liable to pay all calls and other amounts
 due and payable in respect of the share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The non-receipt
 of notice of any call by, or the accidental omission to give notice of a call to, a Member
 does not invalidate the call.

4.4 Interest on
 default

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If a sum
 called in respect of a share is not paid before or on the day appointed for payment of the
 sum, the person from whom the sum is due must pay interest on the sum from the day it is
 due to the time of actual payment at the Prescribed Interest Rate, calculated daily and payable
 monthly in arrears.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Directors
 may waive payment of that interest wholly or in part.

4.5 Fixed instalments

If the terms of a share make a sum payable on issue of the share or at a fixed date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) this is
 taken to be a call duly made and payable on the date on which by the terms of the issue the
 sum becomes payable; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the case
 of non-payment, all the relevant provisions of this constitution as to payment of interests
 and expenses, forfeiture or otherwise apply as if the sum had become payable by virtue of
 a call duly made and notified.

4.6 Proceedings
 for recovery of calls

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In an action
 or other proceedings to recover a call, or interest or costs or expenses incurred because
 of the failure to pay or late payment of a call, proof that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the name of
 the defendant is entered in the Register as the holder or one of the holders of the share
 on which the call is claimed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the resolution
 making the call is recorded in the minute book; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) notice of
 the call was given to the defendant complying with this constitution,

is conclusive evidence of the debt and it is not necessary to prove the appointment or Committee membership of the Directors who made the call or any other matter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In rule
 4.6(a), 'defendant' includes a person against whom the Company alleges a set-off
 or counterclaim and 'action or other proceedings to recover a call' is to be
 interpreted accordingly.

4.7 Prepayment of
 calls and interest

The Directors may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) accept from
 a Member the whole or a part of the amount unpaid on a share although no part of that amount
 has been called; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) authorise
 payment by the Company of interest on the whole or any part of an amount so accepted, until
 the amount becomes payable, at such rate, not exceeding the Prescribed Interest Rate, as
 is agreed between the Directors and the Member paying the sum.

5. Forfeiture
 of shares

5.1 Notice requiring
 payment of call

If a Member fails to pay the whole or any part of any call or instalment, on or before the day appointed for payment of that call or instalment, the Directors may give a notice to the Member requiring payment of so much of the call or instalment as is unpaid, together with any interest that has accrued and all costs and expenses that may have been incurred by the Company by reason of that non-payment or late payment of the call or instalment.

5.2 Contents of
 notice

The notice must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) name a further
 day (at least ten (10) Business Days from the date of service of the notice) by which the
 payment required by the notice is to be made;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) identify
 the place where payment is to be made; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) state that,
 in the event of non-payment at or before the time appointed, the shares in respect of which
 the call was made will be liable to be forfeited.

5.3 Forfeiture for
 failure to comply with notice

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If a notice
 under rule 5.1 has not been complied with by the date specified in the notice, the Directors
 may by resolution forfeit the relevant shares, at any time before the payment required by
 the notice has been made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A forfeiture
 under rule 5.3(b) includes all dividends and other distributions to be made in respect
 of the forfeited shares which have not been paid or distributed before the forfeiture.

5.4 Sale or re-issue
 of forfeited shares

Subject to the Act, a share forfeited under rule 5.3 may be sold, re-issued or otherwise disposed of to such persons and on such terms as the Directors think fit.

5.5 Notice of forfeiture

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If any share
 is forfeited under rule 5.3,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) notice of
 the forfeiture must be given to the Member holding the share immediately before the forfeiture;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) subject to
 rule 5.5(a), an entry of the forfeiture and its date must be made in the Register.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any failure
 to give notice or enter the forfeiture in the Register does not invalidate the forfeiture.

5.6 Surrender instead
 of forfeiture

The Directors may accept the surrender of any share which they are entitled to forfeit on any terms they think fit and any share so surrendered is deemed to be a forfeited share.

5.7 Cancellation
 of forfeiture

The Directors may, at any time before a sale, re-issue or disposal of a share under rule 5.4, cancel the forfeiture of that share on such terms as the Directors think fit.

5.8 Effect of forfeiture
 on former holder's liability

A person whose shares have been forfeited:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) ceases to
 be a Member in respect of the forfeited shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) remains
 liable to pay the Company all money that, at the date of forfeiture, was payable by that
 person to the Company in respect of the shares (including costs associated with the forfeiture
 and all proceedings instituted against the Member to recover the amount due, and interest
 up to the date of actual payment).

5.9 Balance to former
 holder

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company
 must account to the former holder of the forfeited share for any balance remaining after
 deducting from proceeds the Company receives, the amount owing to the Company and the reasonable
 costs of the sale including interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company
 is not liable for any loss suffered by the former holder as a result of the sale.

5.10 Evidence of
 forfeiture

A written statement by a Director or Secretary that a share has been forfeited in accordance with this constitution on the date declared in the statement is evidence of the facts in the statement as against all persons claiming to be entitled to the share.

5.11 Transfer of
 forfeited share

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company
 may receive any consideration given for a forfeited share on any sale, re-issue or disposal
 of the share under rule 5.4 and may execute or effect a transfer of the share in favour
 of the person to whom the share is sold, re-issued or disposed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) On the execution
 of the transfer, the transferee must be registered as the holder of the share and is not
 bound to see to the application of any money paid as consideration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The title
 of the transferee to the share is not affected by any irregularity or invalidity in connection
 with the forfeiture, sale, re-issue or disposal of the share.

6. Transfer
 of shares

6.1 Participation
 in computerised or electronic systems

The Directors may do anything that they consider necessary or desirable and that is permitted by Applicable Law to facilitate the Company's participation in any computerised or electronic system for the purposes of facilitating dealings in shares (or securities).

6.2 Forms of instrument
 of transfer

Subject to this constitution and the terms on which the shares are issued, a share in the Company may be transferred by an instrument in writing in any usual or common form or in any other form that the Directors approve.

6.3 Execution and
 delivery of transfer

A duly completed instrument of transfer:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) must be
 executed by or on behalf of both the transferor and transferee unless the instrument of transfer
 relates only to fully paid shares and the Directors have dispensed with signature by the
 transferee or the transfer of shares is effected by a document which is, or documents which
 together are, a sufficient transfer of shares under the Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if required
 by Applicable Law to be stamped, be duly stamped;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) in the case
 of a transfer of partly paid shares, be endorsed by, or accompanied by an instrument of transfer
 executed by, the transferee to the effect that the transferee agrees to accept the shares
 subject to the terms and conditions on which the transferor held them and to become a Member
 and to be bound by the constitution; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) be left
 for registration at the share registry of the Company, accompanied by any information that
 the Directors properly require to show the right of the transferor to make the transfer,

and in that event, the Company must, subject to the powers vested in the Directors by this constitution, register the transferee as the holder of the share.

6.4 Effect of registration

A transferor of a share remains the holder of the share transferred until the transfer is registered and the name of the transferee is entered in the Register in respect of the share.

6.5 Company to register
 forms without charge

No fee may be charged for registering any instrument of transfer or other document relating to or affecting the title to any share.

6.6 Power to refuse
 to register

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Directors
 may decline to register, or prevent registration of, a transfer of shares where:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the transfer
 is not in registrable form;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Company
 has a lien on any of the shares which are the subject of the transfer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the transfer
 is paper-based and registration of the transfer will result in a holding which is less than
 a marketable parcel;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the registration
 of the transfer may breach Applicable Law or would be in breach of any order of any applicable
 court;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the transfer
 is not permitted under the terms of issue of the shares (including the terms of any employee
 incentive scheme of the Company); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) the Company
 is otherwise permitted or required to do so under Applicable Law or the terms of issue of
 the shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If the Company
 refuses to register a paper-based transfer under rule 6.6(a), it must tell the lodging party
 in writing of the refusal and the reason for it, within five (5) Business Days after the
 date on which the transfer was lodged.

6.7 Company to retain
 instrument of transfer

The Company must retain every instrument of transfer which is registered for any period determined by the Directors.

7. Transmission
 of shares

7.1 Transmission
 of shares on death

If a Member who does not hold shares jointly dies, the Company will recognise only the personal representative of the Member as being entitled to the Member's interest in the shares.

7.2 Information
 given by personal representative

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If the personal
 representative of the Member who has died gives the Company the information they reasonably
 require to establish the representative's entitlement to be registered as a holder
 of the shares:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the personal
 representative may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) by giving
 a signed notice to the Company, elect to be registered as the holder of the shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) by giving
 a completed transfer form to the Company, transfer the shares to another person; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the personal
 representative is entitled, whether or not registered as the holder of the shares, to the
 same rights as the Member.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) On receiving
 an election under rule 7.2(a)(i)(A), the Company must register the personal representative
 as the holder of the shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) A transfer
 under rule 7.2(a)(i)(B) is subject to the rules that apply to transfers generally.

7.3 Death of joint
 owner

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject
 to rule 7.3(b), if a Member who holds shares jointly dies, the Company will recognise only
 the survivor as being entitled to the Member's interest in the shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The estate
 of the Member is not released from any liability in respect of the shares.

7.4 Bound by prior
 notice

Despite rules 7.1 and 7.3, the Directors may register a transfer of shares signed by a Member before a transmission event even though the Company has notice of the transmission event.

7.5 Transmission
 of shares on bankruptcy

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If a person
 entitled to shares because of the bankruptcy of a Member gives the Directors the information
 they reasonably require to establish the person's entitlement to be registered as the
 holder of the shares, the person may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) by giving
 a signed notice to the Company, elect to be registered as the holder of the shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) by giving
 a completed transfer form to the Company, transfer the shares to another person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) On receiving
 an election under rule 7.5(a)(i), the Company must register the person as the holder of the
 shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) A transfer
 under rule 7.5(a)(ii) is subject to the rules that apply to transfers generally.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) This rule
 has effect subject to the *Bankruptcy Act 1966* (Cth).

7.6 Transmission
 of shares on mental incapacity

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If a person
 entitled to shares because of the mental incapacity of a Member gives the Directors the information
 they reasonably require to establish the person's entitlement to be registered as the
 holder of the shares:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the person
 may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) by giving
 a signed notice to the Company, elect to be registered as the holder of the shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) by giving
 a completed transfer form to the Company, transfer the shares to another person; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the person
 is entitled, whether or not registered as the holder of the shares, to the same rights as
 the Member.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) On receiving
 an elec3tion under rule 7.6(a)(i)(A), the Company must register the person as the holder
 of the shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) A transfer
 under rule 7.6(a)(i)(B) is subject to the articles that apply to transfers generally.

8. General
 meetings

8.1 Annual general
 meeting

Annual general meetings must be held in accordance with Applicable Law.

8.2 Convening a
 general meeting

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Directors
 may convene and arrange to hold a general meeting of the Company whenever they think fit
 and must do so if required to do so under Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject
 to the Act, the Board shall designate the date and time of the general meeting and may postpone,
 reschedule or cancel any previously scheduled general meeting, before or after the notice
 for such meeting has been sent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Except as
 provided for in this Constitution in the case of annual general meetings, business transacted
 at any general meeting shall be limited to the matters stated in the notice of meeting given
 by or at the direction of the Board.

8.3 No action by
 written resolutions of Members

Any action required or permitted to be taken by the Members may be taken only upon the vote of the Members at a general meeting (including an annual general meeting) and may not be taken by written resolution of Members without a meeting.

8.4 Record dates

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) For the
 purpose of determining the Members entitled to notice of or to vote at any general meeting,
 or any adjournment thereof, or entitled to express consent to corporate action in writing
 without a meeting, or entitled to receive payment of any dividend or other distribution or
 allotment of any rights, or entitled to exercise any rights in respect of any change, conversion
 or exchange of shares or for the purpose of any other lawful action, the Board may fix, a
 minimum of ten (10) days in advance, a date as the record date for any such determination
 of Members.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If the Board
 does not fix a record date for any general meeting, the record date for determining the Members
 entitled to a notice of or to vote at such meeting shall be the date on which notice of the
 meeting is sent or the date on which the resolution of the Directors resolving to pay such
 dividend or other distribution is passed, as the case may be, or, if in accordance with this
 Constitution any such notice is waived, on the day next preceding the day on which the meeting
 is held. The record date for determining the Members for any other purpose shall be at the
 close of business on the day on which the Board adopts the resolution relating thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) A determination
 of the Members of record entitled to notice of or to vote at a meeting of the Members shall
 apply to any adjournment of the meeting; provided, however, that the Board may fix a new
 record date for the adjourned meeting.

8.5 Notice of general
 meetings

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Notice of
 a general meeting must be given to the Members, Directors and the auditor in accordance with
 the Act, and while the Company is listed on an Exchange to the extent required by the Listing
 Rules, notice must also be given to the Exchange within the time limits prescribed by the
 Listing Rules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) At least
 forty (40) days' notice of a general meeting must be given in accordance with rule 17.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In computing
 the period of notice under rule 17, both the day on which the last notice to Members
 is given or taken to be given and the day of the meeting convened by it are to be disregarded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The contents
 of a notice of a general meeting called by Directors is to be decided by the Directors, but
 must state the general nature of the business to be transacted at the meeting and any other
 matters required by the Act.

8.6 Advance notice
 procedures for any business brought before general meeting by Members

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) For purposes
 of this Section, the term "**Proposing Person**" shall mean:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Member
 or Members providing the notice of business proposed to be brought before a general meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the beneficial
 owner or beneficial owners, if different, on whose behalf the notice of the business proposed
 to be brought before the annual meeting is made; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) any participant
 (as defined in paragraphs (a)(ii)-(vi) of Instruction 3 to Item 4 of Schedule 14A under rules
 of the SEC) with such Member in such solicitation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Members
 may give notice of a resolution that they propose to move at a general meeting in accordance
 with the Act. To be in proper form to meet the requirements of this section, a Member's
 notice shall set forth, with respect to business to be brought before a general meeting:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) as to each
 Proposing Person:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) the name
 and address of such Proposing Person (including, if applicable, the name and address that
 appear on the Company's books and records);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) the number
 of shares of each class or series of shares of the Company that are, directly or indirectly,
 owned of record or beneficially owned (within the meaning of Rule 13d-3 under the Exchange
 Act) by such Proposing Person or any of its affiliates or associates (for purposes of this
 Constitution, as such terms are defined in Rule 12b-2 promulgated under the Exchange Act),
 except that such Proposing Person shall in all events be deemed to beneficially own any shares
 of any class or series of shares of the Company as to which such Proposing Person or any
 of its affiliates or associates has a right to acquire beneficial ownership at any time in
 the future (the disclosures to be made pursuant to the foregoing clauses (A) and (B) are
 referred to as "**Member Information** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) any performance-related
 fee (other than an asset-based fee) that such Proposing Person, directly or indirectly, is
 entitled to based on any increase or decrease in the value of shares of any class or series
 of share capital of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) any rights
 to dividends on the shares of any class or series of shares of the Company owned beneficially
 by such Proposing Person that are separated or separable from the underlying shares of the
 Corporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E) any material
 pending or threatened legal proceeding in which such Proposing Person is a party or material
 participant involving the Company or any of its officers or Directors, or any affiliate of
 the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F) any other
 material relationship between such Proposing Person, on the one hand, and the Company or
 any affiliate of the Company, on the other hand;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(G) any direct
 or indirect material interest in any material contract or agreement of such Proposing Person
 with an affiliate of the Company (including, in any such case, any employment agreement,
 collective bargaining agreement or consulting agreement);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(H) any proxy,
 agreement, arrangement, understanding or relationship pursuant to which such Proposing Person
 has or shares a right to, directly or indirectly, vote any shares of any class or series
 of share capital of the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(I) any other
 information relating to such Proposing Person that would be required to be disclosed in a
 proxy statement or other filing required to be made in connection with solicitations of proxies
 or consents by such Proposing Person in support of the business proposed to be brought before
 the meeting pursuant to Applicable Law (the disclosures to be made pursuant to the foregoing
 clauses (C) through (H) are referred to as "**Disclosable Interests** "); *provided, however,* that Disclosable Interests shall not include any such disclosures with respect
 to the ordinary course business activities of any broker, dealer, commercial bank, trust
 company or other nominee who is a Proposing Person solely as a result of being the shareholder
 or directed to prepare and submit the notice required by this Constitution on behalf of a
 beneficial owner; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) as to each
 item of business that a Proposing Person proposes to bring before a general meeting:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) a brief
 description of the business desired to be brought before the annual general meeting, the
 reasons for conducting such business at the annual general meeting and any material interest
 in such business of each Proposing Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) the text
 of the proposal or business (including the text of any resolutions proposed for consideration
 and, if such business includes a proposal to amend this Constitution, the text of such proposed
 amendment);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) a reasonably
 detailed description of all agreements, arrangements and understandings:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) between or
 among any of the Proposing Persons; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) between or
 among any Proposing Person and any other Person (including their names) in connection with
 the proposal of such business by such Member or in connection with acquiring, holding, disposing
 or voting of any shares of any class or series of share capital of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) identification
 of the names and addresses of other Members (including beneficial owners) known by any of
 the Proposing Persons to support such business, and to the extent known, the class and number
 of all shares of the Company's share capital owned of record or beneficially by such
 other Member(s) or other beneficial owner(s);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E) any other
 information relating to such item of business that would be included in disclosure filed
 or furnished with the SEC; *provided*, *however*, that the disclosures required
 by this rule shall not include any disclosures with respect to any broker, dealer, commercial
 bank, trust company or other nominee who is a Proposing Person solely as a result of being
 the Member directed to prepare and submit the notice required by this Constitution on behalf
 of a beneficial owner; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F) a statement
 whether or not the Member giving the notice and/or the other Proposing Person(s), if any,
 will deliver a proxy statement and form of proxy to holders of at least the percentage of
 voting power of all of the shares of share capital of the Company required under Applicable
 Law to approve the business proposal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) A Proposing
 Person shall update and supplement its notice to the Company of its intent to propose business
 at an annual general meeting, if necessary, so that the information provided or required
 to be provided in such notice pursuant to this rule 8.6 shall be true and correct as of the
 record date for the annual general meeting and as of the date that is ten (10) Business Days
 prior to the annual general meeting or any adjournment or postponement thereof, and such
 update and supplement shall be promptly delivered to, or mailed and received by, the Secretary
 at the principal executive offices of the Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Board
 or a designated Committee thereof shall have the discretion, authority and power to determine
 whether business proposed to be brought before the annual general meeting was made in accordance
 with the provisions of this Constitution. If neither the Board nor such designated Committee
 makes a determination as to whether any business was made in accordance with the provisions
 of these this Constitution, the presiding officer at the meeting shall, if the facts warrant,
 determine that the business was not properly brought before the meeting, and if he or she
 should so determine, he or she shall so declare to the meeting. If the Board or a designated
 Committee thereof or the presiding officer, as applicable, determines that any Member proposal
 was not made in accordance with the provisions of this Constitution, any such business not
 properly brought before the meeting shall not be transacted.

8.7 Advance Notice
 Procedures for Any Nomination Brought Before Annual General Meeting

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) For a nomination
 to be properly brought before an annual general meeting by a Member, the notice of nomination
 must be presented by a Member, no earlier than the close of business on the 120th day before
 the general meeting and no later than the close of business on the 90th day before the meeting,
 who:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) is present
 in person and who was a Member of record of the Company both at the time of giving the notice
 for the annual general meeting and at the time of the annual general meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) is entitled
 to vote at the annual general meeting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) has complied
 with all requirements for proposing a nomination as set forth herein, including the requirements
 for notice and any other qualifications.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The number
 of nominees a nominating Member may nominate for election at an annual general meeting pursuant
 to this Constitution shall not exceed the number of Directors to be elected at such meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Without
 qualification, for a Member to make any nomination of a person or persons for election to
 the Board at an annual general meeting pursuant to this Section, the Member must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) provide the
 information, agreements and questionnaires with respect to such Member and its candidate
 for nomination as required by the Board or this Constitution; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) provide any
 updates or supplements to such notice at the times and in the forms required by this Constitution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) To be in
 proper form for purposes of this Constitution, a Member's notice to the Secretary of
 a nomination shall set forth:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) As to each
 Nominating Person (as defined below), the Member Information (as defined in rule 8.6(b)(i)(B))
 except that for purposes of a nomination, the term "**Nominating Person** "
 shall be substituted for the term "**Proposing Person**" in all appropriate
 places;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) As to each
 Nominating Person, any Disclosable Interests (as defined in rule 8.6(b)(i)(I)), except that
 for purposes of a nomination, the term "**Nominating Person**" shall be substituted
 for the term "**Proposing Person**" in all appropriate places (and the disclosure
 with respect to the business to be brought before the meeting shall be made with respect
 to the nomination of each Person for election as a Director at the meeting);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) A statement
 whether or not the Nominating Person will deliver a proxy statement and form of proxy to
 holders of at least the percentage of voting power of all of the shares of share capital
 of the Company reasonably believed by such Nominating Person to be sufficient to elect the
 nominee or nominees proposed to be nominated by such Nominating Person; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) As to each
 candidate whom a Nominating Person proposes to nominate for election as a Director:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) all information
 with respect to such candidate for nomination requested by the Board and included in disclosure
 filed or furnished with the SEC, including, but not limited to, the candidate's name,
 age, business address and residential address, principal occupation or employment and the
 class or series and number of shares of capital stock of the Company, if any, that are owned
 beneficially or of record by the candidate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) all information
 relating to such candidate for nomination that is required under Applicable Law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) the candidate's
 written consent to being named in the proxy statement as a nominee and to serving as a Director
 if elected;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) a description
 of any direct or indirect material interest in any material contract or agreement between
 or among any Nominating Person, on the one hand, and each candidate for nomination or any
 other participants in such solicitation, on the other hand, including, without limitation,
 all information that would be required to be disclosed under Applicable Law (the disclosures
 to be made pursuant to the foregoing rules 8.7(d)(iv)(A) to 8.7(d)(iv)(D) are referred to
 as "**Nominee Information** "); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E) a completed
 and signed questionnaire, representation and agreement as provided for below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) A Member providing
 notice of any nomination proposed to be made at the applicable meeting of Members shall further
 update and supplement such notice, if necessary, so that the information provided or required
 to be provided in such notice shall be true and correct as of the record date for the annual
 general meeting and as of the date that is ten (10) Business Days prior to the annual general
 meeting or any adjournment or postponement thereof, and such update and supplement shall
 be promptly delivered to, or mailed and received by, the Secretary at the principal executive
 offices of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) To be eligible
 to be a candidate for election as a Director of the Company at the applicable annual general
 meeting, a candidate must be nominated in the manner prescribed in this Constitution and
 the candidate for nomination, whether nominated by the Board or by a Member of record, must
 have previously delivered (in accordance with the time period requested by the Board), to
 the Secretary at the principal executive offices of the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) a completed
 written questionnaire (in the form provided by the Company) with respect to the background,
 qualifications, share ownership and independence of such candidate for nomination; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) a written
 representation and agreement (in the form provided by the Company) that such candidate for
 nomination:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) is not, and
 will not become a party to, any agreement, arrangement or understanding with any Person other
 than the Company with respect to any direct or indirect compensation or reimbursement for
 service as a Director of the Company that has not been disclosed therein;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) understands
 his or her duties as a Director under Applicable Law and agrees to act in accordance with
 those duties while serving as a Director;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) is not or
 will not become a party to any agreement, arrangement or understanding with, and has not
 given any commitment or assurance to, any Person as to how such nominee, if elected as a
 Director, will act or vote as a Director on any issue or question to be decided by the Board,
 in any case, to the extent that such arrangement, understanding, commitment or assurance:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(I) could limit
 or interfere with his or her ability to comply, if elected as Director of the Company, with
 his or her fiduciary duties under Applicable Law or with policies and guidelines of the Company
 applicable to all Directors; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(II) has not
 been disclosed to the Company prior to or concurrently with the Nominating Person's
 submission of the nomination; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) if elected
 as a Director of the Company, will comply with all applicable corporate governance, conflict
 of interest, confidentiality, share ownership and trading and other policies and guidelines
 of the Company applicable to Directors and in effect during such Person's term in office
 as a Director (and, if requested by any candidate for nomination, the Secretary of the Company
 shall provide to such candidate for nomination all such policies and guidelines then in effect).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) The Board
 may also require any proposed candidate for nomination as a Director to furnish such other
 information as may reasonably be requested by the Board in writing prior to the applicable
 annual general meeting of Members at which such candidate's nomination is to be acted
 upon in order for the Board to determine the eligibility of such candidate for nomination
 to be an independent Director of the Company in accordance with the Company's policies
 and charters, including any Corporate Governance Guidelines or Board Committee charter(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) The Board
 or a designated Committee thereof shall have the power to determine whether a nomination
 proposed to be brought before the annual general meeting was made in accordance with the
 provisions of this Constitution. If neither the Board nor such designated Committee makes
 a determination as to whether any nomination was made in accordance with the provisions of
 this Constitution, the presiding officer at the annual general meeting shall, if the facts
 warrant, determine that the nomination was not properly brought before the annual general
 meeting, and if he or she should so determine, he or she shall so declare to the meeting.
 If the Board or a designated Committee thereof or the presiding officer, as applicable, determines
 that any nomination was not made in accordance with the provisions of this Constitution,
 any such Director nominee not properly brought before the meeting shall not be nominated
 or elected.

8.8 Cancellation
 or postponement of general meetings

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject
 to rule 8.8(b), if the Directors in their absolute discretion decide that it is unreasonable
 or impracticable to hold a general meeting at the time or place specified in the notice of
 that general meeting, they may cancel or postpone the general meeting to another time or
 place by giving notice of the cancellation or postponement to all the Members.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A general
 meeting called and arranged under section 249D of the Act may not be postponed beyond the
 date by which section 249D requires it to be held and may not be cancelled without the consent
 of the requisitioning Member or Members.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notice of
 cancellation or postponement or change of place of a general meeting must state the reason
 for cancellation or postponement and be:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) while the
 Company is listed on an Exchange and to the extent required by the Listing Rules, be given
 to the Exchange or otherwise in accordance with the Listing Rules; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) subject to
 the Act, given in any other manner determined by the Directors.

8.9 Non-receipt
 of notice

The non-receipt of notice of a general meeting or cancellation or postponement of a general meeting by, or the accidental omission to give notice of a general meeting or cancellation or postponement of a general meeting to, a person entitled to receive notice does not invalidate any resolution passed at the general meeting or at a postponed meeting or the cancellation or postponement of a meeting.

8.10 Director entitled
 to notice of meeting

A Director is entitled to receive notice of and to attend all general meetings and all separate meetings of the holders of any class of shares in the capital of the Company.

9. Proceedings
 at general meetings

9.1 Number for a
 quorum

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) No business
 other than the appointment of the chairperson of the general meeting is to be transacted
 at a general meeting if the persons attending it do not constitute a quorum.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A quorum
 consists of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) At least one-third
 of the voting power of the shares entitled to vote at a general meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) if and for
 so long as the Company has one Member only, one Member entitled to vote on the business to
 be transacted; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) if and for
 so long as the Company has two or more Members, two Members who are entitled to vote of the
 business to be transacted.

in each case present in person, or by one or more proxies, attorneys or representatives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In determining
 whether a quorum is present, each individual attending as a proxy, attorney or representative
 is to be counted, except that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) where a Member
 has appointed more than one proxy, attorney or representative, only one is to be counted;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) where an
 individual is attending both as a Member and as a proxy, attorney or representative, that
 individual is to be counted only once.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If a quorum
 is present at the time the first item of business is transacted, it is taken to be present
 when the meeting proceeds to consider each subsequent item of business unless the chairperson
 of the meeting (on the chairperson's own motion or at the request of a Member, proxy,
 attorney or representative who is present) declares otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) If, within
 thirty (30) minutes after the time appointed for a meeting a quorum is not present, the meeting:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) if convened
 at the request of Members, is dissolved; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) in any other
 case, stands adjourned to the same day in the next week and the same time and place, or to
 such other day, time and place as the Directors determine and if, at the adjourned meeting,
 a quorum is not present within thirty (30) minutes after the time appointed for the meeting,
 the meeting must be dissolved.

9.2 Admission to
 general meetings

Subject to the Act, the chairperson of a general meeting may take any action he or she considers appropriate for the safety of persons attending the meeting and the orderly conduct of the meeting and may refuse admission to, or require to leave and remain out of the meeting, any person, including but not limited to a person:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in possession
 of a pictorial-recording or sound-recording device;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in possession
 of a place card or banner;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) in possession
 of an article considered by the chairperson to be dangerous, offensive or liable to cause
 disruption;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) who refuses
 to produce or to permit examination of any article, or the contents of any article, in the
 person's possession;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) who behaves
 or threatens to behave in a dangerous, offensive or disruptive manner; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) who is not:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a Member or
 a proxy, attorney or representative of a Member;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a Director;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) an auditor
 of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) a person
 requested by the Directors or chairperson to attend the meeting.

9.3 Appointment
 of chairperson of general meeting

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Chair
 of the Board shall preside as the Chair of every general meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If a general
 meeting is held and:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Chair
 of the Board is not present at the meeting, or is not willing to act as Chair, and a chairperson
 has not been elected by the Directors; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the elected
 chairperson is not present within fifteen (15) minutes after the time appointed for the holding
 of the meeting or is unable or unwilling to act,

the following may preside as chairperson of the meeting (in order of precedence):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) any deputy
 chairperson;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) a Director
 chosen by a majority of the Directors present;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the only Director
 present; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) (if no Directors
 are present), a Member chosen by a majority of the Members present in person or by proxy,
 attorney or representative.

9.4 Conduct of general
 meetings

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The chairperson
 of a general meeting:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) has charge
 of the general conduct of the meeting and the procedures to be adopted at the meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) may require
 the adoption of any procedure which is in the chairperson's opinion necessary or desirable
 for proper and orderly debate or discussion and the proper and orderly casting or recording
 of votes at the general meeting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) may, having
 regard where necessary in accordance with Applicable Law, terminate discussion or debate
 on any matter whenever the chairperson considers it necessary or desirable for the proper
 conduct of the meeting,

and a decision by the chairperson under this rule 9.4(a) is final.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company
 may hold a meeting of Members at two or more venues or entirely virtually, in each case using
 any technology that gives the Members a reasonable opportunity to participate, and in this
 instance:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a Member participating
 in the meeting using technology is taken to be present in person at the meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) all the provisions
 in this constitution relating to meetings of Members apply, so far as they can and with such
 changes as are necessary, to meetings of the Members using that technology; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the meeting
 is to be taken to be held at the place determined by the chairperson of the general meeting
 so long as at least one of the Members involved was at that place for the duration of the
 general meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If the technology
 used in accordance with the requirement of rule 9.4(b) encounters a technical difficulty,
 whether before or during the meeting, which results in a Member not being able to participate
 in the meeting, the chairperson may, subject to Applicable Law, allow the meeting to continue,
 or may adjourn the meeting either for such reasonable period as may be required to fix the
 technology or to such other time and location as the chairperson deems appropriate.

9.5 Adjournment
 of general meetings

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The chairperson
 of a general meeting may at any time during the meeting adjourn the meeting or any business,
 motion, question, resolution, debate or discussion being considered or remaining to be considered
 by the meeting either to a later time at the same meeting or to an adjourned meeting at any
 time and place, but:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) in exercising
 the discretion to do so, the chairperson may, but need not, seek the approval of the Members
 present in person or by representative; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) only unfinished
 business is to be transacted at a meeting resumed after an adjournment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Unless required
 by the chairperson, a vote may not be taken or demanded by the Members present in person
 or by proxy, attorney or representative in respect of any adjournment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) It is not
 necessary to give any notice of an adjournment or of the business to be transacted at any
 adjourned meeting unless a meeting is adjourned for one month or more.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Where a
 meeting is adjourned, the Directors may postpone, cancel or change the venue of the adjourned
 meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Where a
 meeting is adjourned, to the extent required by the Listing Rules, notice of the adjourned
 meeting must be given to the Exchange, but need not be given to any other person.

9.6 Voting at general
 meetings

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject
 to the requirements of Applicable Law, a resolution is taken to be carried if a simple majority
 of the votes cast on the resolution are in favour of it.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A resolution
 put to the vote of a general meeting must be decided on show of hands unless a poll is demanded
 by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the chairperson
 of the meeting; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any Member
 present and having the right to vote at the meeting,

before a show of hands on that resolution or immediately after the result of a show of hands on that resolution is declared.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) A declaration
 by the chairperson that a resolution has on a show of hands been carried or carried unanimously,
 or by a particular majority, or lost, and an entry to that effect in the book containing
 the minutes of the proceedings of the Company, is conclusive evidence of the fact.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Neither
 the chairperson nor the minutes need state, and it is not necessary to prove, the number
 or proportion of the votes recorded in favour of or against the resolution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) A poll may
 be demanded on any resolution at a general meeting other than the election of a chair or
 the question of an adjournment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) A demand
 for a poll may be made by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) at least five
 Members entitled to vote on the resolution; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Members with
 at least five percent of the votes that may be cast on the resolution on a poll.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) If a poll
 is demanded:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) it must be
 taken in the manner and at the date and time directed by the chairperson and the result of
 the poll is a resolution of the meeting at which the poll was demanded;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) on the election
 of a chairperson or on a question of adjournment, it must be taken immediately;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) it may be
 withdrawn if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) the poll
 has not yet been taken; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) the chairperson
 of the general meeting consents to the withdrawal,

and a demand so withdrawn shall not invalidate the result of a show of hands declared before the demand was made; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the demand
 does not prevent the continuance of the meeting for the transaction of any business other
 than the question on which the poll has been demanded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) If there
 is an equality of votes, either on a show of hands or on a poll, the chairperson of the general
 meeting is not entitled to a casting vote, in addition to any votes to which the chairperson
 is entitled as a Member or proxy, attorney or representative of a Member.

9.7 Entitlement
 to vote

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject
 to this constitution, Applicable Law and to any rights or restrictions attached to any class
 or classes of shares:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) on a show
 of hands, each:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) Member present
 in person has one vote; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) each other
 person present as a proxy, attorney or representative of a Member or Members has one vote,
 provided that if that person represents personally or by proxy, attorney or representative
 more than one Member:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) that one vote
 will be taken as having been cast for all the Members the person represents; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the person
 must not exercise that vote in a way that would contravene any directions given to that person
 in accordance with rule 9.11(g) in any instrument appointing the person as a proxy, attorney
 or representative; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) on a poll,
 each:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) Member present
 in person has one vote for each fully paid share held by the Member; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) person present
 as proxy, attorney or representative of a Member has one vote for each fully paid share held
 by the Member that the person represents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If a share
 is held jointly and more than one Member votes in respect of that share, only the vote of
 the Member whose name appears first in the Register counts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) A Member
 is not entitled to vote at a general meeting unless all calls and other amounts presently
 payable by that Member in respect of the shares in the Company have been paid.

9.8 Unpaid calls
 and partly paid Shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) A Member
 is not entitled to vote in respect of any share on which a call or instalment of a call is
 due and payable but is unpaid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If a Member
 holds any partly paid share, the aggregate number of votes that Member is entitled to cast
 on a poll in respect of those partly paid shares is equal to **A**.

**A** is determined as follows:

![](tm236588d5_exdimg002.jpg)

Where:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) **B** is
 the number of partly paid shares held by the Member;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) **C** is the amount actually partly paid up (not credited) on the shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) **D** is an amount equal to the fully paid up issue price of the number of partly paid shares held
 by the Member.

If **A** is not a whole number, the number of votes must be rounded down to the next whole number.

9.9 Transmission
 event

A person entitled to a share because of a transmission event may vote at any general meeting in respect of that share in the same way as if that person were the registered holder of the share if, before the meeting, the Directors have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) admitted
 that person's right to vote at that meeting in respect of the share; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) been satisfied
 of that person's right to be registered as the holder of, or to transfer, the share
 under rule 7.2(a),

and any vote so tendered by that person must be accepted to the exclusion of the vote of the registered holder of the share.

9.10 Objection to
 voting qualification

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) An objection
 to the right of a person to attend or vote at the meeting or adjourned meeting:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) may not be
 raised except at that meeting or adjourned meeting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) must be referred
 to the chairperson of the meeting, whose decision is final.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A vote not
 disallowed under the objection is valid for all purposes.

9.11 Representation
 at general meetings

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject
 to this constitution, each Member entitled to vote at a meeting of Members may vote:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) in person
 or, where a Member is a body corporate, by its representatives;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) by not more
 than 2 proxies; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) by not more
 than 2 attorneys.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A proxy,
 attorney or representative may, but need not, be a Member.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) A proxy,
 attorney or representative may be appointed for all general meetings, or for any number of
 general meetings, or for a particular general meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Unless otherwise
 provided in the instrument, an instrument appointing a proxy, attorney or representative
 is to be taken to confer authority:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) to agree to
 a meeting being convened by shorter notice than is required by Applicable Law or by this
 constitution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) to agree
 to a resolution being proposed and passed as a Special Resolution at a meeting of which less
 than the period of notice required by Applicable Law has been given; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) even though
 the instrument may refer to specific resolutions and may direct the proxy, attorney or representative
 how to vote on those resolutions, to do any of the acts specified in rule 9.11(e).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The acts
 referred to in rule 9.11(d)(iii) are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) to vote on
 any amendment moved to the proposed resolutions and on any motion that the proposed resolutions
 not be put or any similar motion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) to vote on
 any procedural motion, including any motion to elect the chairperson to vacate the chair
 or to adjourn the meeting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) to act generally
 at the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Where a
 Member appoints 2 proxies or attorneys to vote at the same general meeting, the following
 rules apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) if the appointment
 does not specify the proportion or the number of votes that each proxy or attorney (as applicable)
 may exercise, each proxy or attorney (as applicable) half of the Member's vote;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) on a show
 of hands, neither proxy or attorney may vote;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) on a poll,
 each proxy or attorney may only exercise the voting rights the proxy or attorney represents;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) if both appointments
 cannot be validly exercised at the meeting, the later appointment revokes the earlier appointment
 of a proxy or attorney.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) An instrument
 appointing a proxy or attorney may direct the manner in which the proxy or attorney is to
 vote in respect of a particular resolution and, where an instrument so provides, the proxy
 or attorney is not entitled to vote on the proposed resolution except as directed in the
 instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Subject
 to rule 9.11(i), an instrument appointing a proxy or attorney need not be in any particular
 form as long as it is in writing, legally valid and signed by or on behalf of the appointer
 or the appointer's attorney.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) A proxy
 or attorney may not vote at a general meeting or adjourned meeting or on a poll unless the
 instrument appointing the proxy or attorney, and the authority under which the instrument
 is signed or a certified copy of the authority, are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) received at
 the registered office of the Company, a fax number at the Company's registered office
 or at another place, fax number or electronic address specified for that purpose in the notice
 convening the meeting or in the materials distributed to Members for the meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) in the case
 of a meeting or an adjourned meeting, tabled at the meeting or adjourned meeting at which
 the person named in the instrument proposed to vote; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) in the case
 of a poll, produced when the poll is taken.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) The Directors
 may waive all or any of the requirements of rules 9.11(g) and 9.11(i) and in particular may,
 on the production of such other evidence as the Directors require to prove the validity of
 the appointment of a proxy or attorney, accept:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) an oral appointment
 of a proxy or attorney;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) an appointment
 of a proxy or attorney which is not signed in the manner required by rule 9.11(h); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the deposit,
 tabling or production of a copy (including a copy sent by fax, email or presented in electronic
 format) of an instrument appointing a proxy or attorney or of the power of attorney or other
 authority under which the instrument is signed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) A vote given
 in accordance with the terms of an instrument appointing a proxy or attorney is valid despite:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a transmission
 event occurring in relation to the appointer; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the revocation
 of the instrument or of the authority under which the instrument was executed,

if no written notice of the transmission event or revocation has been received by the Company by the time and at one of the places at which the instrument appointing the proxy or attorney is required to be deposited, tabled or produced under rule 9.11(i).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) A vote given
 in accordance with the terms of an instrument appointing a proxy or attorney is valid despite
 the transfer of the share in respect of which the instrument was given, if the transfer is
 not registered by the time at which the instrument appointing the proxy or attorney is required
 to be deposited, tabled or produced under rule 9.11(i).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) The appointment
 of a proxy or attorney is not revoked by the appointer attending and taking part in the general
 meeting but, if the appointer votes on a resolution, the person acting as proxy or attorney
 for the appointer is not entitled to vote, and must not vote, as the appointer's proxy
 or attorney on the resolution.

9.12 Minutes

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Within one
 month after each general meeting, the Directors must record or cause to be recorded in the
 minute book of the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the proceedings
 and resolutions of each general meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any declarations
 at each general meeting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) any information
 in relation to proxy votes which is required by the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The minute
 books must be kept at the registered office.

10. The
 Directors

10.1 Number of Directors

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The number
 of Directors which shall constitute the whole Board shall be fixed exclusively by one or
 more resolutions adopted from time to time by the Board however such number shall not be
 less than three (3). No reduction of the authorised number of Directors shall have the effect
 of removing any Director before that Director's term of office expires.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) At least
 two of the Directors must ordinarily reside in Australia.

10.2 Appointment
 and removal of Directors

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject
 to Applicable Law, the Company may by Ordinary Resolution elect any natural person, willing
 and permitted under Applicable Law to act as a Director, to be a Director either to fill
 a vacancy or as an addition to the existing Board. The Directors shall be divided into three
 (3) classes designated as Class I, Class II and Class III, respectively.
 Directors shall be assigned to each class in accordance with a resolution or resolutions
 adopted by the Board. Class I Directors shall initially serve until the first annual general
 meeting following the time that the Company is first listed on an Exchange (the "**Classification Effective Time** "); Class II Directors shall initially serve until the second annual
 general meeting following the Classification Effective Time; and Class III Directors shall
 initially serve until the third annual general meeting following the Classification Effective
 Time. At each succeeding annual general meeting of the Company, Directors shall be elected
 for a full term of three (3) years to succeed the Directors of the class whose terms
 expire at such annual general meeting. Notwithstanding the foregoing provisions of this Article,
 each Director shall hold office until the expiration of his term, until his successor shall
 have been duly elected and qualified or until his earlier death, resignation or removal.
 No decrease in the number of Directors constituting the Board of Directors shall shorten
 the term of any incumbent Director.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except as
 otherwise expressly required by Applicable Law, and subject to the special rights of the
 holders of one or more series of preferred shares to elect Directors, any vacancies on the
 Board resulting from death, resignation, disqualification, retirement, removal or other causes
 and any newly created directorships resulting from any increase in the number of Directors
 shall be filled only by the affirmative vote of a majority of the Directors then in office,
 even though less than a quorum, or by a sole remaining Director, and shall not be filled
 by the shareholders. Any Director appointed in accordance with the preceding sentence shall
 hold office for a term that shall coincide with the remaining term of the class to which
 the Director shall have been appointed and until such Director's successor shall have
 been elected and qualified or until his or her death, resignation, disqualification, retirement
 or removal. A vacancy in the Board shall be deemed to exist under this Constitution in the
 case of the death, removal or resignation of any Director. Subject to any provision to the
 contrary in this Constitution, a Director may be removed by an Ordinary Resolution of the
 Company at a general meeting or in accordance with the Act or for Cause (as defined in below),
 at any time before the expiration of his or her period of office, notwithstanding anything
 in this Constitution or in any agreement between the Company and such Director (but without
 prejudice to any claim for damages under any such agreement). "**Cause** "
 for removal of a Director shall be deemed to exist only if the Director, as determined by
 the Board:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) has been convicted
 of an arrestable offence by a court of competent jurisdiction and such conviction is no longer
 subject to direct appeal;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) is disqualified
 from acting as a Director under the Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) personally
 becomes bankrupt or insolvent or makes any arrangement or composition with his or her creditors
 generally;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) is absent
 from Board meetings for a continuous period of six consecutive months without leave of absence
 from the Directors and a majority of the other Directors have not, within ten (10) Business
 Days of having been given a notice by the Secretary giving details of the absence, resolve
 that a leave of absence be granted; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) such Director
 has been adjudicated by a court of competent jurisdiction to be mentally incompetent, which
 mental incompetency directly affects such Director's ability to perform his or her
 obligations as a Director, in each case at any time before the expiration of his or her term
 notwithstanding anything in this Constitution or in any agreement between the Company
 and such Director (but without prejudice to any claim for damages under such agreement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) An appointment
 of a person as a Director is not effective unless a signed consent to the appointment is
 provided by that person to the Company. The appointment of a person as a Director will take
 effect on the later of the date of appointment and the date on which the Company receives
 the signed consent.

10.3 Termination
 of Director's appointment

A person ceases to be a Director as soon as that person:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) ceases to
 be a Director by virtue of any provision of the Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) becomes
 of unsound mind or a person whose person or estate is liable to be dealt with in any way
 under the law relating to mental health;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) resigns
 from the office by notice in writing to the Company or is removed under this constitution;
 or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) has been
 absent either personally or by proxy or Alternate Director at meetings of the Directors for
 more than six consecutive months without leave of absence from the Directors.

10.4 Remuneration
 of Directors

To the extent permitted by Applicable Law, the Directors shall receive such remuneration as the Board may from time to time determine. Each Director shall be entitled to be repaid or prepaid all traveling, hotel and incidental expenses reasonably incurred or expected to be incurred by him or her in attending meetings of the Board or Committees of the Board or general meetings or separate meetings of any class of shares of the Company or otherwise in connection with the discharge of his duties as a Director.

10.5 Directors'
 interests

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Any Director
 who has a material personal interest in a contract or proposed contract of the Company, holds
 any office or owns any property such that the Director might have duties or interests which
 conflict with, or which may conflict, either directly or indirectly, with the Director's
 duties or interests as a Director, must give the Directors notice of the interest at a meeting
 of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A notice
 of a material personal interest must set out:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the nature
 and extent of the interest; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the relation
 of the interest to the affairs of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The notice
 must be provided to the Directors at a Board meeting as soon as practicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) A Director
 who has a material personal interest in a matter that is being considered at a Board meeting
 must not, except where permitted under the Act:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) vote on the
 matter at the meeting; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) be present
 while the matter is being considered at the meeting, and accordingly will not count for the
 purposes of determining whether there is a quorum.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Subject
 to the Act, no Director is disqualified from office due to the fact that such Director holds
 any other office or association:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) with the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) with any
 of the Company's subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) with any
 company in which the Company is or becomes a shareholder or otherwise interested; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) arising from
 contracting or arranging with the Company or any other company referred to in rules 10.5(e)(ii)
 or 10.5(e)(iii), either as vendor, purchaser or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) A contract
 or arrangement entered into by or on behalf of the Company in which a Director is in any
 way interested (including any contract referred to in rule 10.5(e)) is not invalid or voidable
 merely because the Director holds office as a Director or because of the fiduciary obligations
 arising from that office.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) A Director
 who is interested in any arrangement involving the Company is not liable to account to the
 Company for any profit realised under the arrangement merely because the Director holds office
 as a Director or because of the fiduciary obligations arising from that office, provided
 that the Director complies with the disclosure requirements applicable under rules 10.5(a)
 and 10.5(b) and under the Act regarding that interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) A reference
 to the Company in this rule 10.5 is also a reference to each related body corporate
 of the Company.

11. Powers
 and duties of Directors

11.1 Directors to
 manage Company

The Directors are responsible for overseeing the proper management of the business of the Company and they may exercise all the powers of the Company as are not by the Act or by this constitution required to be exercised by the Company in general meeting.

11.2 Specific powers
 of Directors

Without limiting the generality of rule 11.1, the Directors may exercise all the powers of the Company to borrow or raise money, to charge any property or business of the Company or all or any of its uncalled capital and to issue debentures or other securities or give any other security for a debt, liability or obligation of the Company or of any other person.

11.3 Power of attorney

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Directors
 may, by power of attorney, appoint any person or persons to be the attorney or attorneys
 of the Company for the purposes and with the powers, authorities and discretions vested in
 or exercisable by the Directors for such period and subject to such conditions as they think
 fit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A power
 of attorney granted under rule 11.3(a) may contain such provisions for the protection
 and convenience of persons dealing with the attorney as the Directors think fit and may also
 authorise the attorney to delegate (including by way of appointment of a substitute attorney)
 all or any of the powers, authorities and discretions vested in the attorney.

11.4 Signing of
 receipts and negotiable instruments

The Directors may determine the manner in which and persons by whom cheques, promissory notes, bankers' drafts, bills of exchange and other negotiable instruments, and receipts for money paid to the Company, may be signed, drawn, accepted, endorsed or otherwise executed (as applicable).

11.5 Committees

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Directors
 may delegate any of their powers, other than powers required by Applicable Law to be dealt
 with by Directors as a Board, to a Committee or Committees consisting of one or more of their
 number as they think fit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A Committee
 to which any powers have been delegated under rule 11.5(a) must exercise those powers
 in accordance with any directions of the Directors.

11.6 Delegation
 of Directors' powers

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Directors
 may delegate any of their powers to any persons they select for any period, to be exercised
 for any objects and purposes on any terms and subject to any conditions and restrictions
 as they think fit, and may revoke, withdraw, alter or vary the delegation of any of those
 powers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The powers
 of delegation expressly or impliedly conferred by this constitution on the Directors are
 conferred in substitution for, and to the exclusion of, the power conferred by section 198D
 of the Act.

12. Proceedings
 of Directors

12.1 Directors'
 meetings

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Directors
 may meet together for the dispatch of business and adjourn and otherwise regulate their meetings
 as they think fit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A Director
 may at any time, and the Secretary must on the written request of a Director, convene a meeting
 of the Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) A Directors'
 meeting may be called or held using any technology consented to by all the Directors ()"**Approved Technology** "). The consent may be a standing one. A Director may only withdraw their
 consent within a reasonable period before the meeting. The contemporaneous linking together
 by Approved Technology of a number of the Directors sufficient to constitute a quorum, constitutes
 a meeting of Directors and all the provisions of this constitution relating to meetings of
 the Directors apply, so far as they can and with such changes as are necessary, to meetings
 of Directors by Approved Technology.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) A Director
 participating in a meeting by Approved Technology is to be taken to be present in person
 at the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) A meeting
 by Approved Technology is to be taken to be held at the place determined by the chairperson
 of the meeting as long as at least one of the Directors involved was at that place for the
 duration of the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) If, before
 or during the meeting, any technical difficulty occurs as a result of which one or more Directors
 cease to participate, the chairperson may adjourn the meeting until the difficulty is remedied
 or may, where a quorum remains present, continue with the meeting.

12.2 Notice of meetings
 of Directors

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject
 to this constitution, notice of a meeting of Directors must be given to each person who is
 at the time of giving the notice a Director, other than a Director on leave of absence approved
 by the Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A notice
 of a meeting of Directors:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) must specify
 the time and place of the meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) need not
 state the nature of the business to be transacted at the meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) may be given
 immediately before the meeting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) may be given
 in person or by post or by telephone, fax or other electronic means.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) A Director
 may waive notice of any meeting of Directors by notifying the Company to that effect in person
 or by post, telephone, fax or other electronic means.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The non-receipt
 of notice of a meeting of Directors by, or a failure to give notice of a meeting of Directors
 to, a Director does not invalidate any thing done or resolution passed at the meeting if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the non-receipt
 of failure occurred by accident or error;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) before or
 after the meeting, the Director or an Alternate Director appointed by the Director has waived
 or waives notice of that meeting under rule 12.2(c) or has notified or notifies the Company
 of his or her agreement to that thing or resolution personally or by post, telephone, fax
 or other electronic means; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the Director
 or an Alternate Director appointed by the Director attended the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) A person
 who attends a meeting of Directors waives any objection that person may have to a failure
 to give notice of the meeting.

12.3 Voting

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) A question
 arising at a meeting of Directors is to be decided by a majority of votes of Directors present
 and entitled to vote and that decision is for all purposes a decision of the Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If there
 are an equal number of votes for and against a question, the chairperson of the Directors'
 meeting does not have a casting vote in addition to any deliberative vote.

12.4 Chairperson
 and deputy chairperson of Directors

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Directors
 may elect one of their number as chairperson of their meetings and one of their number as
 deputy chairperson or lead independent Director and may also determine the periods for which
 the chairperson and deputy chairperson or lead independent Director are to hold office.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If a Directors'
 meeting is held and:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a chairperson
 has not been elected under rule 12.4(a); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the chairperson
 is not present within ten (10) minutes after the time appointed for the holding of the meeting
 or is unable or unwilling to act,

the deputy chairperson or lead independent Director will be the chairperson of the meeting. If a deputy chairperson or lead independent Director has not been elected, or is not present or willing to act, the Directors present must elect one of their number to be chairperson of the meeting.

12.5 Quorum at meetings
 of Directors

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) At a meeting
 of Directors, the number of Directors whose presence in person or by proxy is necessary to
 constitute a quorum is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) if the Directors
 have fixed a number for the quorum, that number of Directors as determined by the Directors;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) in any other
 case, two Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject
 to rule 12.5(c), the continuing Directors may act despite a vacancy in their number.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If their
 number is reduced below any minimum number fixed by the Board, if applicable the continuing
 Directors may, except in an emergency, act only for the purpose of filling vacancies to the
 extent necessary to bring their number up to that minimum or to convene a general meeting.

12.6 Committee

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Members
 of a Committee may elect one of their number as chairperson of their meetings. If a meeting
 of a Committee is held and:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a chairperson
 has not been elected; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the chairperson
 is not present within fifteen (15) minutes after the time appointed for the holding of the
 meeting or is unable or unwilling to act,

the Members involved may elect one of their number to be chairperson of the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A Committee
 may meet and adjourn as it thinks proper.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Questions
 arising at a meeting of a Committee are to be determined by a majority of votes of the Members
 of the Committee present and voting.

12.7 Circulating
 resolutions

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Directors
 may pass a resolution without a Directors' meeting being held if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) all of the
 Directors entitled to vote on the resolution have consented to the resolution in accordance
 with this rule 12.7; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Directors
 who assent to the document would have constituted a quorum at a meeting of Directors held
 to consider that resolution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) For the
 purposes of rule 12.7(a):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the resolution
 is passed when the last participating Director consents to the resolution in accordance with
 this rule 12.7; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the resolution
 is not invalidated if it is consented to by a Director who is not entitled to vote.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) A Director
 may consent to a resolution by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any technology,
 including telephone or email;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) signing a
 document that sets out the terms of the resolution and contains a statement to the effect
 that the Director is in favour of the resolution; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) by giving
 the Company a written notice (including by fax or other electronic means) addressed to and
 received by the Secretary or the chairperson:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) that signifies
 the Director's assent to the resolution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) that sets
 out the terms of the resolution or identifies those terms; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) if the Director
 has notified the Company in writing of a specified means by which his or her consent must
 be authenticated (including by providing particular personal information or an allocated
 code), that authenticates the Director's consent by those specified means.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Where a
 Director signifies assent to a resolution pursuant to rule 12.7(c)(i) the Director must,
 by way of confirmation, sign a document that sets out the terms of the resolution and contains
 a statement to the effect that the Director is in favour of the resolution before or at the
 next meeting of Directors attended by that Director. The resolution, the subject of the assent
 under rule 12.7(c)(i) is not invalid if the Director does not comply with this rule 12.7(d).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Any document
 referred to in this rule 12.7 may be in the form of a fax or electronic notification. Separate
 copies of a document (including in electronic form) may be signed by the Directors if the
 wording of the resolution and statement is identical in each copy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) This rule 12.7
 applies to resolutions of Committees as if the references to Directors were references to
 Committee Members.

12.8 Validity of
 acts of Directors

All acts done at a meeting of the Directors or of a Committee, or by a person acting as a Director are, even if it is afterwards discovered that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) there was
 a defect in the appointment or continuance in office of a person as a Director or of the
 person so acting; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a person
 acting as a Director was disqualified or was not entitled to vote,

as valid as if the relevant person had been duly appointed or had duly continued in office and was qualified and entitled to vote.

12.9 Minutes

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Within one
 month after each Directors' meeting, the Directors must record or cause to be recorded
 in the minute book:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the proceedings
 and resolutions of each Directors' meeting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) all resolutions
 passed without a Directors' meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The minute
 book must be kept at the registered office of the Company.

13. Officers

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The officers
 of the Company shall consist of the chief executive officer, the chief financial officer,
 and Secretary, and such additional officers as the Board may from time to time determine,
 all of whom shall be deemed to be officers for the purposes of Applicable Law and this Constitution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The officers
 shall receive such remuneration as the Directors or a Committee designated by the Board (or,
 if and as determined by the Directors or such Committee with respect to the compensation
 of officers other than the chief executive officer, by the chief executive officer) may from
 time to time determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Company
 must have at least one Secretary who ordinarily resides in Australia.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Secretary
 and additional officers, if any, shall be appointed by the Board and shall hold office on
 such terms and for such period as the Board may determine. If thought fit, two or more persons
 may be appointed as joint Secretaries. The Board may also appoint from time to time on such
 terms as it thinks fit one or more assistant or deputy Secretaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The officers
 of the Company shall have such powers and perform such duties in the management, business
 and affairs of the Company as may be delegated to them by the Directors from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) All acts
 done by an executive officer are not invalidated merely because of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a defect in
 the appointment or continuance in office of an executive officer; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the executive
 officer being disqualified from being an executive officer,

if that circumstance was not known by the executive officer when the act was done.

14. Inspection
 of records

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject
 to the Act, the Directors may determine whether, to what extent, at what time and places,
 and under what conditions, the accounting records, Board papers, books and other documents
 of the Company or any of them will be open to the inspection of Members (other than Directors).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A Member
 or other person (other than a Director) does not have the right to inspect any Board papers,
 books, records or documents of the Company except as provided by Applicable Law or as authorised
 by the Directors.

15. Dividends
 and reserves

15.1 Payment of
 dividend

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject
 to Applicable Law, this constitution and the terms of issue or rights of any shares with
 special rights to dividends, the Directors may determine that a dividend is payable, fix
 the amount and the time for payment and authorise the payment or crediting by the Company
 to, or at the direction of, each Member entitled to that dividend.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Directors
 may rescind or alter any such determination made in accordance with rule 15.1(a) before payment
 is made.

15.2 No interest
 on dividends

Interest is not payable by the Company on a dividend.

15.3 Reserves

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Directors
 may set aside out of the Company's profits any reserves or provisions they decide.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Directors
 may appropriate to the profits of the Company any amount previously set aside as a reserve
 or provision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Setting
 aside an amount as a reserve or provision does not require the Directors to keep the amount
 separate from the Company's other assets or prevent the amount being used in the Company's
 business or being invested as the Directors decide.

15.4 Carry forward
 of profits

The Directors may carry forward any part of the profits remaining that they consider should not be distributed as dividends or capitalised, without transferring those profits to a reserve or provision.

15.5 Calculation
 and apportionment of dividends

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject
 to the rights of persons, if any, entitled to shares with special rights as to dividends
 and to the terms of issue of any shares to the contrary, all dividends are divisible among
 the Members so that, on each occasion on which a dividend is paid:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the same sum
 is paid on each fully paid share; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the sum paid
 on a partly paid share is the proportion of the sum referred to in rule 15.5(a)(i) that
 the amount paid on the shares bears to the total of the amounts paid and payable on the share.

To determine the amount paid on a share, exclude any amount:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) paid or
 credited as paid in advance of a call; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) credited
 as paid on a share to the extent that it exceeds the value (ascertained at the time of issue
 of the share) of the consideration received for the issue of the share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All dividends
 are to be apportioned and paid pro rata to the amounts paid on the shares during any portion
 or portions of the period for which the dividend is paid, but, if any share is issued on
 terms providing that it will rank for dividend as from a particular date, that share ranks
 for dividend accordingly.

15.6 Deductions
 from dividends

The Directors may deduct from any dividend payable to, or at the direction of, a Member any sums presently payable by that Member to the Company on account of calls or otherwise in relation to shares.

15.7 Non-cash distributions

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) When resolving
 to pay a dividend, the Directors may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) resolve that
 the dividend be satisfied either wholly or partly by the distribution of specific assets
 to some or all of the persons entitled to the dividend, including shares, debentures or other
 securities of the Company or any other body corporate or trust; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) direct that
 the dividend payable in respect of any particular shares be satisfied wholly or partly by
 such distribution, and that the dividend payable in respect of other shares be paid in cash.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) For the
 purposes of paying a non-cash distribution, the Directors may make whatever arrangements
 they think fit, including, where any difficulty arises regarding the distribution:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) fixing the
 value for distribution of any specific assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) paying cash
 or issue shares, debentures or other securities to any Member in order to adjust the rights
 of all parties; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) vesting
 any of those specific assets, cash, shares, debentures or other securities in a trustee or
 nominee on trust for the persons entitled to the distribution or capitalised amount, on such
 terms that seem expedient to the Directors.

15.8 Payments in
 respect of shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) A dividend,
 interest or other money payable in cash in respect of shares may be paid using any payment
 method chosen by the Company, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) by means of
 a direct credit as determined by the Directors to the latest payment account details for
 the relevant holding as provided in writing by the holder or holders shown on the Register;
 or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) by cheque
 sent through the post directed to the address in the Register of the holder or, in the case
 of joint holders, to the address of the joint holder first named in the Register or to such
 other address as the holder or joint holder directs in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Payment
 of money is at the risk of the holder or holders to whom it is sent.

15.9 Effectual receipt
 from one joint holder

Any one of two or more joint holders may give an effectual receipt for any dividend, interest or other money payable in respect of the shares held by them as joint holders.

15.10 Election to
 accept shares instead of dividends

The Directors may determine for any dividend which it is proposed to pay on any shares of the Company that holders of the shares may elect:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to forego
 the right to share in the proposed dividend or part of such proposed dividend; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to receive
 instead an issue of shares credited as fully paid on such terms as the Directors think fit.

15.11 Unclaimed
 dividends

All dividends or other sums which are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) payable
 in respect of shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) unclaimed
 after having been declared or become payable,

may be invested or otherwise made use of by the Directors for the benefit of the Company until claimed or until required to be dealt with in accordance with any law relating to unclaimed moneys.

16. Capitalisation
 of profits

16.1 Capitalisation
 of reserves and profits

Subject to Applicable Law, the Directors:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) may resolve
 to capitalise any sum, being the whole or a part of the amount for the time being standing
 to the credit of any reserve account or the profit and loss account or otherwise available
 for distribution to Members; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) may, but
 need not, resolve to apply the sum in any of the ways mentioned in rule 16.2, for the
 benefit of Members in the proportions to which those Members would have been entitled in
 a distribution of that sum by way of dividend.

16.2 Applying a
 sum for the benefit of Members

The ways in which a sum may be applied for the benefit of Members under rule 16.1 are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in paying
 up any amounts unpaid on shares held by Members;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in paying
 up in full unissued shares or debentures to be issued to Members as fully paid; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) partly as
 mentioned in rule 16.2(a) and partly as mentioned in rule 16.2(b).

16.3 Implementing
 the resolution

The Directors may do all things necessary to give effect to the resolution under rule 16.1 and in particular, to the extent necessary to adjust the rights of the Members among themselves, may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) make cash
 payments in cases where shares or debentures become issuable in fractions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) authorise
 any person to make, on behalf of all or any of the Members entitled to any further shares
 or debentures on the capitalisation, an agreement with the Company providing for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the issue
 to them, credited as fully paid up, of any further shares or debentures; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the payment
 by the Company on their behalf of the amounts or any part of the amounts remaining unpaid
 on their existing shares by the application of their respective proportions of the sum resolved
 to be capitalised,

and any agreement so made is effective and binding on all the Members concerned;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) fix the
 value of specified assets; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) vest property
 in trustees.

17. Notices

17.1 Document includes
 notice

In this rule 17, a reference to a document includes a notice and a notification by electronic means.

17.2 Form of document

Unless expressly stated otherwise in this constitution, all notices, certificates, statements, demands, appointments, directions and other documents referred to in this constitution must be in writing.

17.3 Methods of
 service

The Company may give a document to a Member:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) personally;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) by delivering
 it or sending it by post to the address for the Member in the Register or an alternative
 address nominated by the Member;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) by sending
 it to a fax number or electronic address nominated by the Member; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) by notifying
 the Member by an electronic means nominated by the Member that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the document
 is available; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) how the Member
 may use the nominated access means to access the document.

17.4 Post

A document sent by post:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if sent
 to an address in Australia, may be sent by ordinary post; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if sent
 to an address outside Australia, must be sent by airmail,

and, in either case, is taken to have been given and received on the day after the day of its posting.

17.5 Fax or other
 electronic means

A document sent or given by fax or other electronic means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) is taken
 to be effected by properly addressing and transmitting the fax or other electronic transmission;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) is taken
 to have been given and received one hour after its transmission if the sender has not received
 a notice of non-delivery.

17.6 Evidence of
 service

Proof of actual receipt is not required. A certificate signed by a Director or a Secretary stating that a document was sent, delivered or given to a Member personally, by post, fax or other electronic means on a particular date is evidence that the document was sent, delivered or given on that date and by those means.

17.7 Joint holders

A document may be given by the Company to the joint holders of a share by giving it to the joint holder first named in the Register for the share.

17.8 Persons entitled
 to shares

A person who by operation of law, transfer or other means whatsoever becomes entitled to any share is absolutely bound by every document given in accordance with this rule 17 to the person from whom that person derives title prior to registration of that person's title in the Register.

18. Winding
 up

18.1 Distribution
 of assets

If the Company is wound up, the liquidator may, with the sanction of a Special Resolution of the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) divide among
 the Members in kind the whole or any part of the property of the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) for that
 purpose set such value as the liquidator considers fair on any property to be so divided
 and may determine how the division is to be carried out as between the Members or different
 classes of Members.

18.2 Powers of liquidator
 to vest property

The liquidator may, with the sanction of a Special Resolution of the Company, vest the whole or any part of any such property in trustees on such trusts for the benefit of the contributories as the liquidator thinks fit, but so that no Member is compelled to accept any shares or other securities in respect of which there is any liability.

18.3 Shares issued
 on special terms

Rules 18.1 and 18.2 do not prejudice or affect the rights of a Member holding shares issued on special terms and conditions.

19. Indemnity
 and insurance

19.1 Indemnity

To the maximum extent permitted by law, the Company shall indemnify any current or former Director or Secretary or officer of the Company or a subsidiary of the Company out of the property of the Company against:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any liability
 incurred by the person in that capacity (except a liability for legal costs);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) legal costs
 incurred in defending or resisting (or otherwise in connection with) proceedings, whether
 civil or criminal or of an administrative or investigatory nature, in which the person becomes
 involved because of that capacity; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) legal costs
 incurred in good faith in obtaining legal advice on issues relevant to the performance of
 their functions and discharge of their duties as an officer of the Company or a subsidiary,
 if that expenditure has been approved in accordance with the Company's policy,

except to the extent that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Company
 is forbidden by law to indemnify the person against the liability or legal costs; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) an indemnity
 by the Company of the person against the liability or legal costs, if given, would be made
 void by law.

19.2 Insurance

The Company may pay or agree to pay, whether directly or through an interposed entity, a premium for a contract insuring a person who is or has been a Director or Secretary or officer of the Company or of a subsidiary of the Company against liability incurred by the person in that capacity, including a liability for legal costs, unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company
 is forbidden by law to pay or agree to pay the premium; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the contract
 would, if the Company paid the premium, be made void by law.

19.3 Contract

The Company may enter into an agreement with a person referred to in rules 19.1 and 19.2 with respect to the matters covered by those rules. An agreement entered into pursuant to this rule 19.3 may include provisions relating to rights of access to the books of the Company conferred by the Act, the Listing Rules or otherwise by law.

20. General

20.1 Governing law,
 jurisdiction and exclusive forum

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This constitution
 is governed by the laws of New South Wales, Australia.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each party
 submits to the non-exclusive jurisdiction of the courts of New South Wales, Australia, and
 to the fullest extent permitted by Applicable Law, any person or entity purchasing or otherwise
 acquiring any interest in any security of the Company shall be deemed to have notice of and
 consented to the provisions of this rule 20.1, including the following provisions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Unless the
 Company consents in writing to the selection of an alternative forum, New South Wales, Australia.
 shall be the sole and exclusive forum for any Member (including a beneficial owner) to bring:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) any derivative
 action or proceeding brought on behalf of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) any action,
 suit or proceeding asserting a claim of breach of a fiduciary duty owed by any current or
 former Director, officer or other employee, agent or stockholder of the Company to the Company
 or to the Company's Members;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) any action,
 suit or proceeding asserting a claim against the Company, its current or former Directors,
 officers, employees, agents or Members arising pursuant to Applicable Law or this Constitution;
 or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) any action,
 suit or proceeding asserting a claim against the Company, its current or former Directors,
 officers, employees, agents or Members governed by the internal affairs doctrine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) If any action
 the subject matter of which is within the scope of this rule 20.1 is filed in a court other
 than in a court of New South Wales, Australia (a "**Foreign Action**") by
 any Member (including any beneficial owner), to the fullest extent permitted by Applicable
 Law, such stockholder shall be deemed to have consented to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) the personal
 jurisdiction of New South Wales, Australia. in connection with any action brought in any
 such court to enforce this rule 20.1; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) having service
 of process made upon such stockholder in any such action by service upon such Member's
 counsel in the Foreign Action as agent for such Member;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Unless the
 Company consents in writing to the selection of an alternative forum, the federal district
 courts of the United States of America shall, to the fullest extent permitted by Applicable
 Law, be the exclusive forum for the resolution of any complaint asserting a cause of action
 arising under the Securities Act; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Notwithstanding
 the foregoing, the provisions of this section 21.1 of the Constitution shall not apply to

 claim for which the U.S. federal courts have exclusive jurisdiction.

20.2 Corporate Opportunity

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) To the fullest
 extent permitted by Applicable Law, no individual serving as a Director who is not employed
 by the Company ()"**Outside Director** "), and AgCentral Energy Pty Ltd and
 its affiliates and Nabors Industries, Ltd. and its affiliates (together with each Outside
 Director, the "**Exempted Persons**") shall have any duty, except and to the
 extent expressly assumed by contract, to refrain from engaging directly or indirectly in
 the same or similar business activities or lines of business as the Company. To the fullest
 extent permitted by Applicable Law, the Company renounces any interest or expectancy of the
 Company in, or in being offered an opportunity to participate in, any potential transaction
 or matter which may be a corporate opportunity for the Exempted Persons, on the one hand,
 and the Company, on the other. Except to the extent expressly assumed by contract, to the
 fullest extent permitted by Applicable Law, the Exempted Persons shall have no duty to communicate
 or offer any such corporate opportunity to the Company and shall not be liable to the Company
 or its Members for breach of any fiduciary duty solely by reason of the fact that an Exempted
 Person pursues or acquires such corporate opportunity, directs such corporate opportunity
 to another person, or does not communicate information regarding such corporate opportunity
 to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notwithstanding
 the foregoing provisions, the Company does not renounce any interest or expectancy
 it may have in any business opportunity that is expressly offered to any Outside Director
 solely in his or her capacity as an Outside Director of the Company, and not in any other
 capacity, unless the disinterested Members of the Board determine that the Company renounces
 such interest or expectancy in accordance with Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) To the extent
 a court might hold that the conduct of any activity related to a corporate opportunity that
 is renounced in this rule 20.2 to be a breach of duty to the Company or its Members, the
 Company hereby waives, to the fullest extent permitted by Applicable Law, any and all claims
 and causes of action that the Company may have for such activities. To the fullest extent
 permitted by Applicable Law, the provisions of this rule 20.2 apply equally to activities
 conducted in the future and that have been conducted in the past.

20.3 Severability

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Any provision
 of this constitution that is or becomes prohibited or unenforceable in any jurisdiction is
 ineffective as to that jurisdiction to the extent of the prohibition or unenforceability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) This rule 20.3
 does not invalidate the remaining provisions of this constitution nor affect the validity
 or enforceability of that provision in any other jurisdiction.

**Schedule 1 Terms of preference shares**

The Company may issue preference shares under rule 2.2 on the following terms.

1. Dividend
 rights and priority of payment

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each preference share confers on
 the holder a right to receive a dividend ()"**Dividend**") at the rate or in
 the amount and on the conditions decided by the Directors under the terms of issue unless,
 and to the extent that, the Directors decide under the terms of issue that there is no right
 to receive a Dividend.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Without limiting the conditions
 which, under the terms of issue, the Directors may impose upon any right to receive a Dividend,
 the Directors may under the terms of issue, impose conditions upon the right to receive a
 Dividend which may be changed or reset at certain times or upon certain events and in the
 manner and to the extent the Directors decide under the terms of issue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Any Dividend:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) is non-cumulative unless, and to
 the extent that, the Directors decide otherwise under the terms of issue; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) will rank for payment:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) in priority to ordinary shares
 unless, and to the extent that, the Directors decide otherwise under the terms of issue;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) in priority to shares in any other
 class of shares or class of preference shares expressed under the terms of issue to rank
 behind for the payment of dividends;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) equally with shares in any other
 class of shares or class of preference shares expressed under the terms of issue to rank
 equally for the payment of dividends; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) behind shares in any other class
 of shares or class of preference shares expressed under the terms of issue to rank in priority
 for the payment of dividends.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If, and to the extent that, the
 Directors decide under the terms of issue, each preference share may, in addition to any
 right to receive a Dividend, participate equally with the ordinary shares in distribution
 of profits available as dividends.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Each preference share confers on
 its holder:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) if, and to the extent that the Dividend
 is cumulative, the right in a winding up or on redemption to payment of the amount of any
 Dividend accrued but unpaid on the share at the commencement of the winding up or the date
 of redemption, whether earned or determined or not;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) if, and to the extent that the Dividend
 is non-cumulative, and if, and to the extent that, the Directors decide under the terms of
 issue, the right in a winding up or on redemption to payment of the amount of any Dividend
 accrued but unpaid for the period commencing on the dividend payment date which has then
 most recently occurred and ending on the commencement of the winding up or the date of redemption,
 whether earned or determined or not,

with the same priority in relation to each other class of shares as the priority that applies in relation to the payment of the Dividend.

2. Entitlement
 to payment of capital sum

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each preference share confers on
 its holder the right in a winding up or on a redemption to payment of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any amount paid on the share, or
 any amount fixed by the Directors under the terms of issue or capable of determination pursuant
 to a mechanism adopted by the Directors under the terms of issue; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a further amount out of the surplus
 assets and profits of the Company on the conditions decided by the Directors under the terms
 of issue unless, and to the extent that, the Directors decide under the terms of issue that
 there is no right to any payment of a further amount out of the surplus assets and profits
 of the Company,

in priority to ordinary shares and, unless the Directors decide otherwise under the terms of issue, in priority to shares in any other class of shares or class of preference shares expressed to rank behind on a winding up, equally with shares in any other class of shares or class of preference shares expressed to rank equally on a winding up, and behind shares in any other class of shares or class of preference shares expressed to rank in priority on a winding up.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Unless otherwise decided by the
 Directors under the terms of issue, a preference share does not confer on its holder any
 right to participate in the profits or property of the Company except as set out in this
 Schedule 1.

3. Bonus
 issues and capitalisation of profits

If, and to the extent that the Directors decide under the terms of issue, a preference share may confer a right to a bonus issue or capitalisation of profits in favour of holders of those shares only.

4. Voting
 rights

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) A preference share does not entitle
 its holder to vote at any general meeting of the Company except on the questions, proposals
 or resolutions or during periods of time or in circumstances identified by the Directors
 in the terms of issue, which, unless the Directors decide otherwise under the terms of issue,
 are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a proposal:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) to reduce the share capital of
 the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) that affects rights attached to
 the share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) to wind up the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) for the disposal of the whole of
 the property, business and undertaking of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a resolution to approve the terms
 of a buy-back agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) during a period in which a Dividend
 or part of a Dividend on the share is in arrears;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) during the winding up of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each
 holder of a preference share who has a right to vote on a resolution is entitled to the number
 of votes specified in rule 9.7 of the Constitution.

5. Meeting

Each preference share confers on its holder the same rights as those conferred by the Constitution upon the holders of ordinary shares in relation to receiving notices (including notices of general meetings), reports, balance sheets and audited accounts and of attending and being heard at all general meetings of the Company.

6. Foreign
 Currency

Where any amount is payable by the Company to the holder of a preference share in a currency other than Australian dollars, and the amount is not paid when due or the Company has commenced winding up, the holder may give notice to the Company requiring payment of an amount in Australian dollars equal to the foreign currency amount calculated by applying the reference rate on the date of payment for the sale of the currency in which the payment is to be made for Australian dollars. Reference rate means the rate applicable in the market and at the time determined by the Directors before allotment of those preference shares and specified in the terms of issue for those preference shares.

7. Conversion
 to ordinary shares

Subject to the Corporations Act, any other Applicable Law and the terms of issue of a preference share as determined by the Directors:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) a preference share which may be
 converted into an ordinary share in accordance with its terms of issue, at the time of conversion
 and without any further act:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) has the same rights as a fully paid
 ordinary share; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) ranks equally with other fully paid
 ordinary shares on issue,

however, the terms of issue of the preference share may provide otherwise including for the issue of additional ordinary shares on conversion as determined by the Directors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 conversion does not constitute a cancellation, redemption or termination of the preference
 share or the issue, allotment or creation of new shares, but has the effect of varying the
 status of, and the rights attaching to, the preference share so that it becomes an ordinary
 share.

8. Amendment
 to the terms

Subject to complying with all Applicable Law, the Company may, without the consent of preference shareholders, amend or add to the terms of the preference shares if, in the opinion of the Company, the amendment or addition is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) of a formal, minor or technical
 nature;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to correct a manifest error;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) made to comply with any Applicable
 Law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) convenient for the purpose of obtaining
 or maintaining the listing of the Company or quotation of the preference shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) is not likely to be or become materially
 prejudicial to the preference shareholders.

9. Variation
 of rights

Subject to paragraph 8 and the terms of issue of a preference share as determined by the Directors, the rights attaching to a preference share may only be varied or cancelled by a Special Resolution of the Company and:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) by a Special Resolution passed at
 a meeting of preference shareholders entitled to vote and holding shares in that class; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) with the written consent of holders
 of at least 75% of the issued shares of that class.

10. Further
 issue of shares

If the Company issues new preference shares that rank equally with existing preference shares, the issue will not be taken to vary the rights attached to the existing preference shares unless otherwise determined by the Directors in the terms of issue of the existing shares.

## Exhibit 10.1

**Exhibit 10.1**

**SUPPORT AGREEMENT**

This SUPPORT AGREEMENT (this "<u>Agreement</u>") is dated as of February 14, 2023, by and among Nabors Energy Transition Sponsor LLC, a Delaware limited liability company (the "<u>Sponsor</u>"), Nabors Energy Transition Corp., a Delaware corporation ("<u>SPAC</u>"), Vast Solar Pty Ltd, an Australian proprietary company limited by shares (the "<u>Company</u>"), Nabors Lux 2 S.A.R.L. ("<u>Nabors Lux</u>") and each of the undersigned individuals, each of whom is a member of the board of directors of SPAC (each, a "<u>Director</u>" and, collectively, the "<u>Directors</u>"). The Sponsor, Nabors Lux and the Directors are collectively referred to herein as the "<u>Insiders</u>"). Capitalized terms used but not defined herein shall have the respective meanings ascribed to such terms in the Business Combination Agreement.

**RECITALS**

WHEREAS, as of the date hereof, each of the Insiders (other than Nabors Lux) is the holder of record and the "beneficial owner" (within the meaning of Rule 13d-3 under the Exchange Act) of the shares of SPAC set forth opposite such party's name on <u>Schedule I</u> attached hereto (such shares, collectively, the "<u>SPAC Shares</u>" and, together with any SPAC Warrants set forth on <u>Schedule II</u> attached hereto, the "<u>SPAC Equity</u>");

WHEREAS, contemporaneously with the execution and delivery of this Agreement, SPAC, the Company and the other parties thereto will enter into that certain Business Combination Agreement (as amended or modified from time to time, the "<u>Business Combination Agreement</u>"), dated as of the date hereof, pursuant to which, among other transactions, (i) a wholly owned direct subsidiary of the Company will merge with and into SPAC, with SPAC surviving the merger as a wholly owned direct subsidiary of the Company, and (ii) the holders of common stock of SPAC will receive ordinary shares of the Company ("<u>Company Shares</u>") and certain holders of common stock of SPAC will receive the right to receive additional Company Shares, on the terms and conditions set forth therein and herein; and

WHEREAS, as an inducement to SPAC and the Company to enter into the Business Combination Agreement and to consummate the transactions contemplated therein, the parties hereto desire to agree to certain matters as set forth herein.

**AGREEMENT**

NOW, THEREFORE, in consideration of the foregoing and the mutual agreements contained herein, and intending to be legally bound hereby, the parties hereto hereby agree as follows:

**Article I<u><br> Support Agreement; Covenants</u>**

Section 1.1 <u>Binding Effect of Business Combination Agreement</u>. Each Insider hereby acknowledges that it has read the Business Combination Agreement and this Agreement and has had the opportunity to consult with its tax and legal advisors. The Sponsor shall be bound by, be subject to and comply with Sections 7.3 (*Confidentiality*), 7.4 (*Exclusivity*) and 7.9 (*Public Announcements*) of the Business Combination Agreement as if the Sponsor was an original signatory to the Business Combination Agreement with respect to such provisions.

Section 1.2 <u>No Transfer</u>. During the period commencing on the date hereof and ending on the earlier of (a) the Closing, (b) the liquidation of SPAC and (c) such date and time as the Business Combination Agreement is validly terminated in accordance with its terms, the Insiders shall not (i) sell, assign, 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, file (or participate in the filing of) a registration statement with the SEC (other than the Registration Statement) or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Exchange Act, with respect to any SPAC Equity owned by such Insider, (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 SPAC Equity owned by such Insider, or (iii) publicly announce any intention to effect, or take any action in furtherance of, any transaction specified in clause (i) or (ii); *provided*, that, transfers of SPAC Equity are permitted (A) to SPAC's officers or directors, any affiliates or family members of any of SPAC's officers or directors, any members of the Sponsor or their affiliates, or any affiliates of the Sponsor; (B) by virtue of the laws of the state of Delaware or the Sponsor's operating agreement upon dissolution of the Sponsor; and (C) in connection with a distribution to profit interest holders, limited partners, members, shareholders or other equity holders of or other holders of equity interests in the Sponsor; *provided, however*, that in the case of clauses (A) through (C), these permitted transferees must enter into a written agreement agreeing to assume all of the obligations under this Agreement with respect to the SPAC Equity to be transferred by such Insider and to be bound by the transfer restrictions set forth in this Agreement (to the extent applicable); *provided*, *further*, that, no transfer permitted under this <u>Section 1.2</u> shall relieve the Insiders of their other obligations under this Agreement.

Section 1.3 <u>New Shares</u>. In the event that (a) any SPAC Equity or other equity securities of SPAC are issued to any Insider after the date of this Agreement pursuant to any stock dividend, stock split, recapitalization, reclassification, combination or exchange of SPAC Equity of, on or affecting the SPAC Equity owned by the Insiders or otherwise, (b) any Insider purchases or otherwise acquires beneficial ownership of any SPAC Equity or other equity securities of SPAC after the date of this Agreement, or (c) any Insider acquires the right to vote or share in the voting of any SPAC Shares or other equity securities of SPAC after the date of this Agreement (such SPAC Equity or other equity securities of SPAC, collectively the "<u>New Securities</u>"), then such New Securities acquired or purchased by such Insider(s) shall be subject to the terms of this Agreement to the same extent as if they constituted the SPAC Equity owned by such Insider as of the date hereof.

Section 1.4 <u>Closing Date Deliverables</u>. At the Closing, the Insiders shall deliver to SPAC and the Company a duly executed copy of that certain Shareholder and Registration Rights Agreement to be entered into by the Company, the Insiders and certain of the Company's and SPAC's stockholders or their respective Affiliates, as applicable, in substantially the form attached as Exhibit A to the Business Combination Agreement.

Section 1.5 <u>Insider Agreements</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) At any meeting of the SPAC's stockholders, however called, or at any adjournment thereof, or in any other circumstance in which the vote, consent or other approval of the SPAC's stockholders is sought, the Insiders shall (i) appear at each such meeting or otherwise cause all of its SPAC Equity, which are entitled to vote, to be counted as present thereat for purposes of calculating a quorum and (ii) vote (or cause to be voted), or execute and deliver a written consent (or cause a written consent to be executed and delivered) covering, all of its SPAC Equity, which are entitled to vote:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) in favor of each SPAC Proposal;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) against any change in the business, management or board of directors of SPAC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) against a SPAC Acquisition Proposal or any other transaction involving SPAC that would be reasonably likely to, in any material respect, (A) impede, interfere with, delay or attempt to discourage, frustrate the purposes of, result in a breach by SPAC of, prevent or nullify any provision of the Business Combination Agreement or any other Transaction Document, the Merger, or any other Transaction, (B) result in a breach in any respect of any covenant, representation, warranty or any other obligation or agreement of SPAC under the Business Combination Agreement, (C) result in any of the conditions set forth in Article VIII (Conditions to the Transactions) of the Business Combination Agreement not being fulfilled or (D) result in a breach of any covenant, representation or warranty or other obligation or agreement of the Insiders contained in this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) against any merger agreement or merger (other than the Business Combination Agreement and the Transactions), consolidation, combination, sale of substantial assets, reorganization, recapitalization, dissolution, liquidation or winding up of or by SPAC.

Each Insider hereby agrees that such Insider shall not commit or agree to take any action inconsistent with the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Insiders shall not amend or modify that certain letter agreement, dated as of November 16, 2021, by and among the Sponsor, SPAC, the other Insiders and certain other parties thereto (the "<u>Letter Agreement</u>"), in any material respect, other than entering into the amendment to the Letter Agreement in substantially the form attached hereto as <u>Annex A</u> in connection with the Closing.

Section 1.6 <u>No Challenges</u>. The Insiders agree not to commence, join in, or knowingly facilitate, assist or encourage, and agrees to take all actions necessary to opt out of any class in any class action with respect to, any claim, derivative or otherwise, against SPAC, the Company or any of their respective successors or directors (a) challenging the validity of, or seeking to enjoin the operation of, any provision of this Agreement or (b) alleging a breach of any fiduciary duty of any person in connection with the evaluation, negotiation or entry into this Agreement, the Business Combination Agreement or the Transactions. Notwithstanding anything herein to the contrary, nothing in this Agreement shall limit or restrict the ability of the Insiders to enforce their respective rights under this Agreement or any other Transaction Document to which any Insider is a party or seek any other remedies with respect to any breach of this Agreement or such other Transaction Document by any other party hereto or thereto, including by commencing any action in connection therewith.

Section 1.7 <u>Further Assurances</u>. The Insiders shall take, or cause to be taken, all actions and do, or cause to be done, all things reasonably necessary under applicable Laws to consummate the transactions contemplated hereby on the terms and subject to the conditions set forth herein and the Transactions on the terms and subject to the conditions set forth in the Business Combination Agreement and the other Transaction Documents, as applicable.

Section 1.8 <u>No Inconsistent Agreement</u>. Each Insider hereby represents and covenants that such Insider has not entered into, and shall not enter into, any agreement that would restrict, limit or interfere with the performance of such Insider's obligations hereunder.

Section 1.9 <u>Insider Exchange; Earnout.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) *Waiver of Anti-Dilution Provision*. Each Insider hereby (but subject to the consummation of the Transactions) waives (for itself, for its successors, heirs and assigns), to the fullest extent permitted by law and the SPAC Certificate of Incorporation, any and all rights such Insider has or will have with respect to the adjustment to the initial conversion ratio provided by Section 4.3(c)(ii) or Section 4.3(c)(iii) of the SPAC Certificate of Incorporation. The waiver specified in this <u>Section 1.9(a)</u> shall be applicable only in connection with the transactions contemplated by the Business Combination Agreement and shall be void and of no force and effect if the Business Combination Agreement shall be terminated for any reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) *Sponsor Earnout Shares*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) If, at any time during the Earnout Period, the volume-weighted average closing sale price of one Company Share quoted on the New York Stock Exchange (or the exchange on which the Company Shares are then listed) is equal to or greater than $12.50 for any 20 Trading Days within any 30 consecutive Trading Day period (the date when the foregoing is first satisfied, the "<u>First Earnout Achievement Date</u>"), the Company shall, subject to <u>Section 1.9(g)</u>, issue 1,300,000 Company Shares (the "<u>First Earnout Shares</u>") to the Sponsor within five (5) Business Days after the First Earnout Achievement Date as additional consideration in the Merger.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) If, at any time during the Earnout Period, the volume-weighted average closing sale price of one Company Share quoted on the New York Stock Exchange (or the exchange on which the Company Shares are then listed) is equal to or greater than $15.00 for any 20 Trading Days within any 30 consecutive Trading Day period (the date when the foregoing is first satisfied, the "<u>Second Earnout Achievement Date</u>"), the Company shall, subject to <u>Section 1.9(g)</u>, issue 1,300,000 Company Shares (the "<u>Second Earnout Shares</u>") to the Sponsor within five (5) Business Days after the Second Earnout Achievement Date as additional consideration in the Merger.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) If, at any time during the Earnout Period, the volume-weighted average closing sale price of one Company Share quoted on the New York Stock Exchange (or the exchange on which the Company Shares are then listed) is equal to or greater than $17.50 for any 20 Trading Days within any 30 consecutive Trading Day period (the date when the foregoing is first satisfied, the "<u>Third Earnout Achievement Date</u>"), the Company shall, subject to <u>Section 1.9(g)</u>, issue 1,300,000 Company Shares (the "<u>Third Earnout Shares</u>" and together with the First Earnout Shares and the Second Earnout Shares, the "<u>Sponsor Earnout Shares</u>") to the Sponsor within five (5) Business Days after the Third Earnout Achievement Date as additional consideration in the Merger.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) If the Second Earnout Achievement Date occurs at a time when the First Earnout Shares have not already been issued, then the Company shall, subject to <u>Section 1.9(g)</u>, immediately issue the First Earnout Shares and Second Earnout Shares to the Sponsor within five (5) Business Days after of the Second Earnout Achievement Date as additional consideration in the Merger; if the Third Earnout Achievement Date occurs at a time when the Second Earnout Shares have not already been issued, then the Company shall, subject to <u>Section 1.9(g)</u>, immediately issue the Second Earnout Shares and Third Earnout Shares to the Sponsor within five (5) Business Days after of the Third Earnout Achievement Date as additional consideration in the Merger; and if the Third Earnout Achievement Date occurs at a time when the First Earnout Shares and Second Earnout Shares have not already been issued, then the Company shall, subject to <u>Section 1.9(g)</u>, immediately issue all of the Sponsor Earnout Shares to the Sponsor within five (5) Business Days after of the Third Earnout Achievement Date as additional consideration in the Merger. The Company shall at all times maintain a sufficient number of authorized and unissued Company Shares to comply with its obligations in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) For the avoidance of doubt, the Sponsor shall be entitled to receive Sponsor Earnout Shares upon the satisfaction of each of the Company Share price targets specified in each of <u>Section 1.9(b)(i)</u>, <u>Section 1.9(b)(ii)</u> and <u>Section 1.9(b)(iii)</u>, provided, however, each Company Share price target may only be achieved once, if at all, and in no event shall the Sponsor be entitled to receive more than an aggregate of 3,900,000 Sponsor Earnout Shares (other than in connection with any adjustments as set forth herein).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) *Acquiror Sale*. If, during the Earnout Period, there is a Change of Control pursuant to which the Company or the Company Shareholders have the right to receive consideration implying a value per Company Share (as determined in good faith by the Company Board) of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) less than $12.50, then <u>Section 1.9(b)</u> and this <u>Section 1.9(c)</u> shall terminate and no further Sponsor Earnout Shares shall be issuable thereunder or hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) greater than or equal to $12.50 but less than $15.00, then, (A) immediately prior to such Change of Control, the Company shall, subject to <u>Section 1.9(g)</u>, issue 1,300,000 Company Shares to the Sponsor (less any Sponsor Earnout Shares issued prior to such Change of Control pursuant to <u>Section 1.9(b)(i)</u>-<u>(iii)</u>; *provided*, that such reduction shall not reduce the number of Company Shares required to be issued to a number that is below zero) and (B) thereafter, <u>Section 1.9(b)</u> and this <u>Section 1.9(c)</u> shall terminate and no further Sponsor Earnout Shares shall be issuable thereunder or hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) greater than or equal to $15.00 but less than $17.50, then, (A) immediately prior to such Change of Control, the Company shall, subject to <u>Section 1.9(g)</u>, issue 2,600,000 Company Shares to the Sponsor (less any Sponsor Earnout Shares issued prior to such Change of Control pursuant to <u>Section 1.9(b)(i)</u>-<u>(iii)</u>; *provided*, that such reduction shall not reduce the number of Company Shares required to be issued to a number that is below zero) and (B) thereafter, <u>Section 1.9(b)</u> and this <u>Section 1.9(c)</u> shall terminate and no further Sponsor Earnout Shares shall be issuable thereunder or hereunder; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) greater than or equal to $17.50, then, (A) immediately prior to such Change of Control, the Company shall, subject to <u>Section 1.9(g)</u>, issue 3,900,000 Company Shares to the Sponsor (less any Sponsor Earnout Shares issued prior to such Change of Control pursuant to <u>Section 1.9(b)(i)</u>-<u>(iii)</u>; *provided*, that such reduction shall not reduce the number of Company Shares required to be issued to a number that is below zero) and (B) thereafter, <u>Section 1.9(b)</u> and this <u>Section 1.9(c)</u> shall terminate and no further Sponsor Earnout Shares shall be issuable thereunder or hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Company Share price targets specified in each of <u>Section 1.9(b)(i)</u>, <u>Section 1.9(b)(ii)</u>, <u>Section 1.9(b)(iii)</u>, <u>Section 1.9(c)(i)</u>, <u>Section 1.9(c)(ii)</u>, <u>Section 1.9(c)(iii)</u> and <u>Section 1.9(c)(iv)</u> shall be equitably adjusted for any stock split, reverse stock split, stock dividend, reorganization, recapitalization, reclassification, combination, exchange of shares or other like change or transaction with respect to Company Shares occurring on or after the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The number of Sponsor Earnout Shares shall be equitably adjusted for any stock split, reverse stock split, stock dividend, reorganization, recapitalization, reclassification, combination, exchange of shares or other like change or transaction with respect to Company Shares occurring after the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The Company shall use its reasonable best efforts to do all things necessary (including obtaining any shareholder or other approvals required under applicable Laws) to issue Sponsor Earnout Shares in accordance with this <u>Section 1.9</u> as soon as practicable following the applicable triggering event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) If, (A) the Company reasonably determines that obtaining any approval of its shareholders or any other approval is required under applicable Law in order to issue Sponsor Earnout Shares pursuant to this <u>Section 1.9</u>, the Company promptly seeks such requisite shareholder or other approval and fails to obtain such shareholder or other approval within six (6) months after the occurrence of the applicable triggering event set forth in <u>Sections 1.9(c)(ii)-(iv)</u>, or (B) an issue of Sponsor Earnout Shares is subsequently unwound by order of a Governmental Authority, (collectively "***Unissued Sponsor Earnout Shares***"), then, the Company shall promptly (and in any event within ten (10) Business Days)) pay an amount of cash to the value of the Unissued Sponsor Earnout Shares calculated based upon a price per Unissued Earnout Share equal to the price per Company Share that gives rise to the relevant triggering event set forth in <u>Sections 1.9(c)(ii)-(iv)</u>.

Section 1.10 <u>PFIC</u>. For so long as the Sponsor or any of its direct or indirect owners that are "United States persons" (within the meaning of Section 7701(a)(30) of the Code) own, in the aggregate, at least two percent (2%) of the issued and outstanding Company Shares:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company, in consultation with a nationally recognized accounting firm and at the Company's expense, shall determine each year whether the Company or any of its Subsidiaries is or likely will become a "passive foreign investment company," as defined in Section 1297(a) of the Code (a "<u>PFIC</u>"), and shall use commercially reasonable efforts to notify the Sponsor (or its direct or indirect owners that are United States persons if Sponsor is no longer in existence) of this determination within 45 days of the end of each calendar year or as soon as reasonably practicable thereafter (provided that such notice may be provided in any form, including by way of inclusion of a statement in an SEC or other public filing or notice that is publicly accessible on the Company's website or otherwise); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) upon a determination by the Company that the Company is or likely will become a PFIC (or if the Company, in consultation with such accounting firm, is unable to make such a determination following good-faith analysis), the Company shall use reasonable best efforts, subject to any restrictions imposed by applicable securities Laws, to provide the Sponsor (or, if Sponsor is no longer in existence, its direct or indirect owners upon request) with, or make publicly accessible on the Company's website or otherwise, all information reasonably available to the Company with respect to the Company and its Subsidiaries that is reasonably necessary for the Sponsor or such requesting direct or indirect owners to make and maintain a "qualified electing fund" election pursuant to Section 1295(b) of the Code with respect to the Company and any of its Subsidiaries that is treated as a PFIC.

**Article II** **<u><br> Representations and Warranties</u>**

Section 2.1 <u>Representations and Warranties of the Sponsor and Nabors Lux</u>. The Sponsor and Nabors Lux each represent and warrant as of the date hereof to SPAC and the Company as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Organization; Due Authorization</u>. Such party is validly existing and in good standing under the Laws of the jurisdiction in which it is incorporated, formed, organized or constituted, and the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby are within such party's organizational powers and have been duly authorized by all necessary organizational actions on the part of such party. Such party has full legal capacity, right and authority to execute and deliver this Agreement and to perform its obligations hereunder. This Agreement has been duly executed and delivered by such party and, assuming due authorization, execution and delivery by the other parties to this Agreement, this Agreement constitutes a legally valid and binding obligation of such party, enforceable against such party in accordance with the terms hereof (except as enforceability may be limited by bankruptcy Laws, other similar Laws affecting creditors' rights and general principles of equity affecting the availability of specific performance and other equitable remedies). If this Agreement is being executed in a representative or fiduciary capacity, the Person signing this Agreement has full power and authority to enter into this Agreement on behalf of such party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Ownership</u>. Such party is the record and beneficial owner (as defined in the Securities Act) of, and has good title to, the SPAC Equity listed opposite its name on <u>Schedule I</u>, and there exist no Liens or any other limitation or restriction (including any restriction on the right to vote, sell or otherwise dispose of such SPAC Equity (other than transfer restrictions under the Securities Act)) affecting any such SPAC Equity, other than Liens pursuant to (i) this Agreement, (ii) SPAC's governing documents, (iii) the Business Combination Agreement, (iv) the Letter Agreement or (v) any applicable securities Laws. The SPAC Equity listed opposite its name on <u>Schedule I</u> is such party's only equity in SPAC owned of record or beneficially by such party on the date of this Agreement, and none of such party's SPAC Equity is subject to any proxy, voting trust or other agreement or arrangement with respect to the voting of such SPAC Equity, except as provided hereunder, pursuant to the Letter Agreement, or pursuant to the Transaction Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>No Conflicts</u>. The execution and delivery of this Agreement by such party does not, and the performance by such party of its obligations hereunder will not, (i) conflict with or result in a violation of the organizational documents of such party or (ii) require any consent or approval that has not been given or other action that has not been taken by any Person (including under any Contract binding upon such party or such party's SPAC Equity), in each case, to the extent such consent, approval or other action would prevent, enjoin or materially delay the performance by such party of its obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Litigation</u>. There are no Actions pending against such party, or to the knowledge of such party threatened against such party, before (or, in the case of threatened Actions, that would be before) any arbitrator or any Governmental Authority, which in any manner challenges or seeks to prevent, enjoin or materially delay the performance by such party of its obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Brokerage Fees</u>. Except as described on Section 5.11 of the SPAC Disclosure Schedule, no broker, finder, investment banker or other Person is entitled to any brokerage fee, finders' fee or other commission in connection with the transactions contemplated by the Business Combination Agreement based upon arrangements made by such party, for which SPAC or any of its Affiliates may become liable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Acknowledgmen</u>t. Such party understands and acknowledges that each of SPAC and the Company is entering into the Business Combination Agreement in reliance upon such party's execution and delivery of this Agreement.

Section 2.2 <u>Representations and Warranties of the Directors</u>. Each Director represents and warrants as of the date hereof to SPAC and the Company as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Power; authority; capacity</u>. Such Director has the power, authority and capacity to execute, deliver and perform this Agreement and that this Agreement has been duly authorized, executed and delivered by such Director.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Ownership</u>. Such Director is the record and beneficial owner (as defined in the Securities Act) of, and has good title to, the SPAC Equity listed opposite his or her name on <u>Schedule I</u> and <u>Schedule II</u>, and there exist no Liens or any other limitation or restriction (including any restriction on the right to vote, sell or otherwise dispose of such SPAC Equity (other than transfer restrictions under the Securities Act)) affecting any such SPAC Equity, other than Liens pursuant to (i) this Agreement, (ii) SPAC's governing documents, (iii) the Business Combination Agreement, (iv) the Letter Agreement or (v) any applicable securities Laws. The SPAC Equity listed opposite his or her name on <u>Schedule I</u> and <u>Schedule II</u> is such Director's only equity in SPAC owned of record or beneficially by such Director on the date of this Agreement, and none of such Director's SPAC Equity is subject to any proxy, voting trust or other agreement or arrangement with respect to the voting of such SPAC Equity, except as provided hereunder, pursuant to the Letter Agreement, or pursuant to the Transaction Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>No Conflicts</u>. The execution and delivery of this Agreement by such Director does not, and the performance by such Director of his or her obligations hereunder will not, (i) require any consent or approval that has not been given or other action that has not been taken by any Person (including under any Contract binding upon such Director or such Director's SPAC Equity), in each case, to the extent such consent, approval or other action would prevent, enjoin or materially delay the performance by such Director of his or her obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Litigation</u>. There are no Actions pending against such Director, or to the knowledge of such Director threatened against such Director, before (or, in the case of threatened Actions, that would be before) any arbitrator or any Governmental Authority, which in any manner challenges or seeks to prevent, enjoin or materially delay the performance by such Director of its obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Brokerage Fees</u>. Except as described on Section 5.11 of the SPAC Disclosure Schedule, no broker, finder, investment banker or other Person is entitled to any brokerage fee, finders' fee or other commission in connection with the transactions contemplated by the Business Combination Agreement based upon arrangements made by such Director, for which SPAC or any of its Affiliates may become liable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Acknowledgmen</u>t. Such Director understands and acknowledges that each of SPAC and the Company is entering into the Business Combination Agreement in reliance upon such Director's execution and delivery of this Agreement.

**Article III<u><br> Miscellaneous</u>**

Section 3.1 <u>Termination</u>. This Agreement and all of its provisions shall terminate and be of no further force or effect upon the earliest of (a) such date and time as the Business Combination Agreement shall be terminated in accordance with Section 9.1 thereof if the Closing has not occurred and (b) the written agreement of the Sponsor, SPAC, and the Company. Upon such termination of this Agreement, all obligations of the parties under this Agreement will terminate, without any liability or other obligation on the part of any party hereto to any Person in respect hereof or the transactions contemplated hereby, and no party hereto shall have any claim against another (and no person shall have any rights against such party), whether under contract, tort or otherwise, with respect to the subject matter hereof; provided, however, that the termination of this Agreement shall not relieve any party hereto from liability arising in respect of any breach of this Agreement prior to such termination. This ARTICLE III shall survive the termination of this Agreement.

Section 3.2 <u>Notices</u>. Any notice or communication under this Agreement must be in writing and given by (i) deposit in the United States mail, addressed to the party to be notified, postage prepaid and registered or certified with return receipt requested, (ii) delivery in person or by courier service providing evidence of delivery, or (iii) transmission by hand delivery, electronic mail or facsimile. Each notice or communication that is mailed, delivered, or transmitted in the manner described above shall be deemed sufficiently given, served, sent, and received, in the case of mailed notices, on the third Business Day following the date on which it is mailed and, in the case of notices delivered by courier service, hand delivery, electronic mail, telecopy, telegram or facsimile, at such time as it is delivered to the addressee (with the delivery receipt or the affidavit of messenger) or at such time as delivery is refused by the addressee upon presentation. Any notice or communication under this Agreement must be addressed, if to the Company to: Vast Solar Pty Ltd, 226-230 Liverpool Street, Darlinghurst NSW 2010, Australia, Attention: Alec Waugh, General Counsel, Email: [\*\*\*], with a required copy to (which copy shall not constitute notice): White & Case LLP, Governor Phillip Tower, 1 Farrer Place, Sydney NSW 2000, Australia, Attention: Joel Rennie, Elliott Smith, Matthew Barnett and Nirangjan Nagarajah, Email: joel.rennie@whitecase.com; elliott.smith@whitecase.com; Matthew.Barnett@whitecase.com; nirangjan.nagarajah@whitecase.com, if to the SPAC to: Nabors Energy Transition Corp., 515 West Greens Road, Suite 1200, Houston, Texas 77067, Attn: Anthony G. Petrello, President, Chief Executive Officer and Secretary, E-mail: general.counsel@nabors.com, with a required copy to (which copy shall not constitute notice): Vinson & Elkins L.L.P., 845 Texas Avenue, Suite 4700, Houston, Texas 77002, Attention: Doug McWilliams and Scott Rubinsky, Email: dmcwilliams@velaw.com; srubinsky@velaw.com, and, if to any Insider, at such Insider's address or facsimile number as set forth on <u>Schedule I</u> or <u>Schedule II</u> hereto. Any party may change its address for notice at any time and from time to time by written notice to the other parties hereto, and such change of address shall become effective thirty (30) days after delivery of such notice as provided in this <u>Section 3.2</u>.

Section 3.3 <u>Amendment</u>. This Agreement may not be amended, changed, supplemented, waived or otherwise modified or terminated, except upon the execution and delivery of a written agreement executed by SPAC, the Company and the Sponsor.

Section 3.4 <u>General Provisions.</u> The terms and provisions of Section 10.3 (*Severability*), Section 10.4 (*Entire Agreement; Assignment*), Section 10.6 (*Governing Law*), Section 10.7 (*Waiver of Jury Trial*), Section 10.8 (*Headings*), Section 10.9 (*Counterparts*), and Section 10.10 (*Specific Performance*) of the Business Combination Agreement shall apply *mutatis mutandis* to this Agreement.

IN WITNESS WHEREOF, the Insiders, SPAC and the Company have each caused this Agreement to be duly executed as of the date first written above.

---

| | |
|:---|:---|
| **INSIDERS:** | **INSIDERS:** |
| **NABORS ENERGY TRANSITION SPONSOR LLC** | **NABORS ENERGY TRANSITION SPONSOR LLC** |
| By: | /s/ Anthony G. Petrello |
| Name: | Anthony G. Petrello |
| Title: | President, Chief Executive Officer and Secretary |
| **NABORS LUX 2 S.A.R.L.** | **NABORS LUX 2 S.A.R.L.** |
| By: | /s/ Henricus Reindert Petrus Pollmann |
| Name: | Henricus Reindert Petrus Pollmann |
| Title: | Type A Manager |
| /s/ Maria Jelescu Dreyfus | /s/ Maria Jelescu Dreyfus |
| Maria Jelescu Dreyfus | Maria Jelescu Dreyfus |
| /s/ Colleen Calhoun | /s/ Colleen Calhoun |
| Colleen Calhoun | Colleen Calhoun |
| /s/ Jennifer Gill Roberts | /s/ Jennifer Gill Roberts |
| Jennifer Gill Roberts | Jennifer Gill Roberts |

---

*Signature Page to Support Agreement*

IN WITNESS WHEREOF, the Insiders, SPAC and the Company have each caused this Agreement to be duly executed as of the date first written above.

---

| | |
|:---|:---|
| **SPAC:** | **SPAC:** |
| **NABORS ENERGY TRANSITION CORP.** | **NABORS ENERGY TRANSITION CORP.** |
| By: | /s/ Anthony G. Petrello |
| Name: | Anthony G. Petrello |
| Title: | President, Chief Executive Officer and Secretary |

---

*Signature Page to Support Agreement*

IN WITNESS WHEREOF, the Insiders, SPAC and the Company have each caused this Agreement to be duly executed as of the date first written above.

---

| | |
|:---|:---|
| **COMPANY:** |  |
| **Signed, sealed and delivered for Vast Solar Pty** |  |
| **Ltd in accordance with section 127 of the** |  |
| Corporations Act 2001 (Cth) and by: |  |
| /s/ John Igino Kahlbetzer | /s/ Colin Raymond Sussman |
| Signature of director | Signature of director/secretary |
| John Igino Kahlbetzer | Colin Raymond Sussman |
| Name of director | Name of director/secretary |

---

*Signature Page to Support Agreement*

**<u>Schedule I</u>**

**SPAC Shares**

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Holder** | &nbsp;&nbsp;**Number of Shares** | &nbsp;&nbsp;**Address** |
| &nbsp;&nbsp;Nabors Energy Transition Sponsor LLC | &nbsp;&nbsp;6,725,000 shares of Class F Common Stock | &nbsp;&nbsp;515 West Greens Road<br> Suite 1200<br> Houston, Texas 77067 |
| &nbsp;&nbsp;Maria Jelescu Dreyfus | &nbsp;&nbsp;75,000 shares of Class F Common Stock | &nbsp;&nbsp;515 West Greens Road<br> Suite 1200<br> Houston, Texas 77067 |
| &nbsp;&nbsp;Colleen Calhoun | &nbsp;&nbsp;50,000 shares of Class F Common Stock | &nbsp;&nbsp;515 West Greens Road<br> Suite 1200<br> Houston, Texas 77067 |
| &nbsp;&nbsp;Jennifer Gill Roberts | &nbsp;&nbsp;50,000 shares of Class F Common Stock | &nbsp;&nbsp;515 West Greens Road<br> Suite 1200<br> Houston, Texas 77067 |

---

Schedule I

**<u>Schedule II</u>**

**SPAC Warrants**

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Holder** | &nbsp;&nbsp;**Number of Warrants** | &nbsp;&nbsp;**Address** |
| &nbsp;&nbsp;Maria Jelescu Dreyfus | &nbsp;&nbsp;150,000 Private Placement Warrants | &nbsp;&nbsp;515 West Greens Road<br> Suite 1200<br> Houston, Texas 77067 |
| &nbsp;&nbsp;Colleen Calhoun | &nbsp;&nbsp;50,000 Private Placement Warrants | &nbsp;&nbsp;515 West Greens Road<br> Suite 1200<br> Houston, Texas 77067 |

---

Schedule II

**<u>Annex A</u>**

**Amendment No. 1**

[Attached]

Annex A

## Exhibit 99.1

**Exhibit 99.1**

---

| | |
|:---|:---|
| ![](tm236588d1_ex99-2img001.jpg) | ![](tm236588d1_ex99-2img002.jpg) |

---

**Vast Business Combination with NABORS Energy Transition Corp.**

Investor Conference Call Transcript

February 14, 2023

**Operator**

Good morning, and welcome to the conference call to discuss the proposed business combination between Vast Solar Pty Ltd, or Vast, and Nabors Energy Transition Corp., or NETC.

I would like to first remind everyone that this call may contain forward-looking statements including, but not limited to, statements relating to Vast's and NETC's expectations or predictions on their respective financial and business performance and conditions, expectations or assumptions in consummating the proposed business combination between the parties, and future Vast product development and performance. Forward-looking statements are inherently subject to risks, uncertainties (some of which are beyond the control of the parties) and assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements and they are not guarantees of performance. I encourage you to read the press release issued today, the accompanying presentation and to review NETC's filings with the SEC for a discussion of these risks that can affect the business combination, Vast's business, and the business of the combined company after completion of the proposed business combination.

NETC and Vast are under no obligation and expressly disclaim any obligation to update, alter or otherwise revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

I will now turn the call over to Mr. Anthony Petrello, President and CEO of NETC and Nabors Industries Ltd. Please go ahead.

---

| | |
|:---|:---|
| ![](tm236588d1_ex99-2img001.jpg) | ![](tm236588d1_ex99-2img002.jpg) |

---

**Anthony Petrello – President, CEO, Nabors Energy Transition Corp. and Chairman, President and CEO, Nabors Industries Ltd.**

Thank you for joining this morning.

I'll begin my remarks with the steps that NETC has taken to reach this point. Then I'll discuss the opportunity for Vast and its next generation concentrated solar power technology, and the benefits of the business combination.

This transaction highlights the value creation that we at Nabors envisioned when we first launched our SPAC.

We believe the world requires clean, dispatchable and scalable power, from multiple sources, to meet its growing needs over the coming decades. At Nabors, our drilling activities are focused on reducing emissions at the rig site, through the use of our advanced technology. We are confident that our expertise utilized in our core business -- in automation, robotics, AI, and material science -- can be applied to develop markets in adjacent verticals. At the same time, our capabilities can help unlock value in the energy transition more broadly. We have named our guiding vision in these efforts "Energy Without Compromise."

Our proficiencies in global operations, innovative engineering, technology development and advanced manufacturing, ideally position us to accelerate the development and scaling of new energy technologies.

As we look over the energy landscape today, one of the most daunting challenges is to develop large-scale sources of renewable energy that are not intermittent, but provide baseload energy. The world urgently needs wind and solar to become dispatchable. Concentrated solar power is key to developing solar into a 24-hour resource.

The IEA estimates new CSP capacity additions of up to 430 GW by 2050, for on-grid applications alone. Given CSP's many benefits, more will likely be needed to satisfy off-grid, heat, and green fuel markets. Yet, existing CSP plants have been plagued by operating issues, and have not kept pace with the growing needs of the market.

All of this brings me to today, and the transaction between Vast and NETC.

---

| | |
|:---|:---|
| ![](tm236588d1_ex99-2img001.jpg) | ![](tm236588d1_ex99-2img002.jpg) |

---

We believe Vast is a unique entry point into a market with massive growth potential. Consistent with Nabors' practices, we believe the attractive valuation reflects our established, disciplined process for transactions. Vast's differentiated solar technology generates baseload and dispatchable electricity, on a cost-effective basis. Vast can also provide superior solutions for growing addressable markets, including:

• Energy
 Storage

• Green
 fuels, and

• True
 renewable heat

The Vast technology has highly scalable growth potential. Nabors skillset will be available to Vast, as needed, to establish that market presence and drive its growth.

I will introduce you to Craig Wood, the CEO of Vast, in just a few moments. Before I do, it's important to highlight the factors that distinguish Vast.

Vast's technology is capable of generating zero-carbon, utility-scale electricity and heat. It can also be used to cost-effectively produce green fuels, such as solar methanol, sustainable aviation fuel, and green hydrogen.

The technology is both modular and scalable. It uses an innovative and differentiated sodium loop technology for heat transfer.

This approach allows Vast to deliver projects that are quicker, and easier, to permit and construct, compared to legacy CSP with central tower systems.

Additionally, these modular facilities provide more cost-effective renewable energy, heat, and storage, compared to existing alternatives.

We believe these attributes comprise a significant advancement versus traditional CSP systems. We call this evolution CSP 3.0.

Importantly for NETC, Vast is already an established technology developer. It significantly de-risked the technology early on, validating the individual components on three pilot projects.

---

| | |
|:---|:---|
| ![](tm236588d1_ex99-2img001.jpg) | ![](tm236588d1_ex99-2img002.jpg) |

---

Subsequently, Vast built a demonstration plant which it successfully synchronized with the grid, in 2018. It then operated for a period of nearly 3 years.

Finally, Vast has successfully completed multiple, and very thorough, grant application processes. It has received awards from:

• the
 US Department of Energy

• the
 Australian Renewable Energy Agency, known as ARENA

• and,
 most recently, the German-Australian Hydrogen Innovation and Technology Incubator, or HyGATE
 initiative.

Vast has built a pipeline of demonstration and commercial scale plants. These are now in various stages of development, and account for multiple gigawatts of prospective projects globally.

This is just the beginning.

I believe that Vast is ready to start a new chapter as a public company:

• With
 an experienced management team ready to step up to the challenge,

• innovative
 and proprietary technology and a differentiated offering,

• a
 demonstrated ability to navigate the rigorous, utility-scale project development process,
 and

• the
 support of Nabors and our ecosystem

In summary, we are excited about this opportunity and believe that Vast is the ideal partner for NETC.

I now want to hand the call over to Craig.

---

| | |
|:---|:---|
| ![](tm236588d1_ex99-2img001.jpg) | ![](tm236588d1_ex99-2img002.jpg) |

---

**Craig Wood – CEO, Vast**

Thanks Tony, and thanks everyone for joining us on the call today. On behalf of Vast, I share Tony's enthusiasm for the opportunity ahead of us in our combination with NETC.

Since our formation in 2009, Vast has been committed to delivering carbon-free energy to the world through the development and construction of facilities using our unique, modular tower CSP system. Our technology is designed to generate zero-carbon electricity and heat, and it acts as a highly efficient energy storage system and an enabler of green fuel production.

We developed our system with an eye to addressing the enduring challenges of previous generations of CSP technologies. Our system has been validated through 5 years of development of individual components, and nearly 3 years of operations at our 1.1 megawatt grid-synchronized demonstration plant. We have undergone rigorous grant processes with each of ARENA, the German Federal Ministry of Education and Research and the US DOE, and we believe the grants we have been awarded are evidence of support for our technology and our company.

There is currently a global installed base of CSP of approximately 7 gigawatts, and the IEA projects new CSP deployments of up to 430 gigawatts by 2050 for on-grid applications alone. Further deployment in off-grid projects with baseload energy requirements, process heat, and as the primary energy source for green fuel production could reach more than a terawatt by 2050. We believe Vast is well-positioned to seize opportunities in the market right now, as well as those that will develop as the market for CSP rapidly grows.

At the moment, our focus is on several exciting projects.

Our commercial reference plant is a 30 megawatt grid-connected CSP plant, located in Port Augusta, and known as VS1. This project is expected to reach financial close in the next twelve months and is to be funded in part by concessional finance from the Australian Government of up to 110 million Australian dollars, or approximately 77 million US dollars, and a recently approved non-dilutive grant from ARENA of up to 65 million Australian dollars, or approximately 45 million US dollars.

We are also developing a commercial demonstration project to produce solar methanol. Solar Methanol One, or SM1, will be co-located with VS1 and is being designed to produce 20 tons per day of green methanol, fueled in part by heat and electricity from VS1. Creating fuels requires heat, and heat is more efficiently produced by CSP rather than by traditional intermittent renewables like PV and wind, ultimately delivering cheaper green fuels. SM1 is being funded in part by the German-Australian Hydrogen Innovation and Technology Incubator, or HyGATE, via a non-dilutive grant of approximately 40 million Australian dollars, or 28 million US dollars. We are firm believers that CSP will play a material role in the production of green renewable fuels such as hydrogen, methanol and sustainable aviation fuel or SAF.

---

| | |
|:---|:---|
| ![](tm236588d1_ex99-2img001.jpg) | ![](tm236588d1_ex99-2img002.jpg) |

---

Our pipeline of future potential opportunities includes several projects in Australia as well as overseas markets, with the focus primarily being on the U.S. and the Middle East. For example, located near Mount Isa in the northeast of Australia, VS2 is a 50 megawatt integrated hybrid PV+CSP+Gas+Battery plant that showcases the ability to combine multiple forms of generation to produce cost-effective baseload dispatchable power.

The United States is particularly interesting. What's happened to the economics of our projects with the passage of the Inflation Reduction Act is really significant, with investment tax credits and other incentives projected to reduce the levelized cost of energy by up to 25% by 2030. This takes what was already a competitive technology and further reduces the barriers to adoption. We have plans to accelerate the development of our US project pipeline beginning this year.

Getting back to our technology, I think it's important to provide some background on what CSP is, and why it can make such an outsized impact in the global push for decarbonization. Solar PV is a relatively cheap source of energy and, along with wind, is expected to provide the lion's share of the world's renewable power. However, energy generated by PV and wind is difficult to cost-effectively store for long durations. Lithium, which represents today's most prevalent storage pairing alternative, comes with many challenges including cost, supply chain issues and the environmental impacts of mining and waste.

By contrast, CSP is a highly cost-effective way of capturing and storing energy from the sun in the form of heat, so that energy may be deployed overnight. The technology uses mirrors – called heliostats – that track the sun and reflect and concentrate its rays onto a central point, called a receiver. Receivers sit on top of towers and absorb the heat from the reflected sunlight, which is then transferred into a fluid for heat exchange and storage. Think of it as a giant thermal battery that charges itself daily with the sun.

---

| | |
|:---|:---|
| ![](tm236588d1_ex99-2img001.jpg) | ![](tm236588d1_ex99-2img002.jpg) |

---

While Vast's system incorporates new approaches and novel technology, it's important to understand that CSP itself is not new. CSP has a long history, with over 100 projects operating around the world today. The majority of that capacity uses parabolic trough solar collectors, or what we call CSP v1.0. Troughs are predictable and bankable, but their efficiency is low and the energy they produce is relatively expensive.

What people have been doing for the last decade or so is moving towards central tower receiver designs, or what we call CSP v2.0. Central tower designs take mirrors and, instead of focusing the energy on a single small pipe filled with oil in front of each mirror (as is the case with CSP v1.0 trough systems), they focus the energy on a single point at the top of a tall tower. The problem is that to achieve efficiencies of scale, the towers are typically over 700 feet tall, have thousands of pounds of serviceable equipment at the top, and they're subject to significant thermal process shocks and, by definition, they are a single point of failure risk for the entire plant.

This brings me to our technology. At Vast, we've taken the best parts of parabolic trough systems and combined them with the tower modality to deliver a modular tower system that is the next evolution of CSP – Vast's CSP v3.0 technology.

We believe that our system delivers benefits across two main categories:

• First,
 our modular modality allows us to make better use of heliostats, achieving a 10-20% efficiency
 gain versus central tower designs, and it removes single-point-of-failure risk while making
 each of our towers much smaller, less complex, and easier to permit, build, operate and maintain.

• Second,
 our design uses sodium, a superior conductive medium versus oil or salt, as the heat transfer
 fluid while retaining molten salt as the storage medium. This allows us to achieve superior
 thermal process control and it avoids having to empty out and restart the solar receivers
 on a daily basis as is the case with central tower technology.

The system delivers cost efficient power and heat by reducing upfront capital cost, reducing the time it takes to construct plants, and by ensuring more reliable and simplified operations.

Our target at scale is to deliver power for US$50 per MWhr at an 80-90% capacity factor by combining PV for daytime generation with our CSP technology for overnight.

---

| | |
|:---|:---|
| ![](tm236588d1_ex99-2img001.jpg) | ![](tm236588d1_ex99-2img002.jpg) |

---

The system that we've created is very flexible – we can generate electricity once the sun has gone down, but we can also take that heat from the hot tank and use it directly in process heat applications anytime during the day or night. So, when you move forward past decarbonization of the electricity grid and think about other large sectors to decarbonize – fuel production, industrial methanol, hydrogen, desalinization and other industrial processes that use heat – our ability to cost efficiently deliver both heat and electricity becomes very powerful.

It is worth noting that we've also made advances in the manufacturing process for each of our future projects. Our pop-up manufacturing facilities are expected to be fully automated, and we believe this will allow us to economically manufacture on-site and reduce logistics costs and supply chain constraints.

Crucially, our technology is protected by pending patents in key markets, as well as a host of trade secrets covering process, design and operations. Our system uses inexpensive, readily available materials like glass and steel, with no reliance on rare earth minerals, and no exposure to some of the humanitarian concerns posed by the manufacturing practices for PV panels.

To efficiently and effectively deliver projects that use our CSP technology, we are organized in four business lines: independent energy production, or IEP; equipment manufacturing and sales, or OEM; operations and maintenance, or O&M; and, finally, engineering and construction, known as EPC.

The first of these is IEP, our project development and operations business. We anticipate the IEP business will become a sizeable asset owner of projects that use Vast's CSP v3.0 technology like Port Augusta VS1, SM1, and Mount Isa VS2.

If, as we believe will be the case, our technology becomes ubiquitous, this should enable a substantial percentage of our revenues to be derived from OEM sales of CSP systems to projects developed either by us or by third parties. As the name suggests, that is a business that will manufacture equipment that employs our IP and know-how. Key to our growth in the OEM market will be the novelty of our technology and the fact that we are one of the only CSP technology providers that can sell an entire system, versus individual components of the system.

---

| | |
|:---|:---|
| ![](tm236588d1_ex99-2img001.jpg) | ![](tm236588d1_ex99-2img002.jpg) |

---

The third stream in our business will be O&M, operations and maintenance. As we pioneered the technology, we believe we are world leaders in the use of sodium as a heat transfer fluid in CSP. Through operating our demonstration plant for nearly 3 years, we have developed and refined the procedures that are necessary to safely and effectively operate plants that use our technology. We expect to provide O&M services and repairs to customers through this business unit.

The final part of our business will be EPC. We expect that our EPC unit will have high level construction and management skills so that we can more effectively manage our construction partners, and directly address any required construction functions that appear as we scale.

One of the key elements of running a successful business is to forge deep partnerships to complement in-house capabilities. We have a worldwide network of deep and long-standing partnerships with what we consider to be some of the best service providers, research partners, and strategic partners available.

We are most excited about the opportunity to add Nabors to that network, in connection with our combination with NETC. Nabors brings so much to the table. Its engineering and technological capabilities, combined with its expertise in robotics, automation and manufacturing, we believe will have a material and immediate impact on our business. We also believe that Nabors' relationships in the Middle East and the U.S. will help expedite our project development pipeline.

Really important on the strategic partner list is the Australian government, in a variety of forms. With support from ARENA over the last decade, Vast has become a leading CSP company. ARENA is continuing that relationship with financing support for our VS1 project of up to 65 million Australian dollars. This is in addition to 40 million dollars from the Australian and German governments for SM1 which will produce fuels for shipping and aviation using energy from the sun.

So, in summary, we believe the market potential for CSP is substantial, and we are well-positioned to address that market across multiple segments, including on- and off-grid electricity generation, renewable heat and green fuels. We believe our CSP v3.0 technology represents a significant evolution from traditional CSP systems, with the potential to be able to produce 24/7 dispatchable energy from the sun's rays. The technology has been de-risked through nearly 3 years of continuous operation. We believe we are structured for success through our four lines of business, IEP; OEM; O&M; and EPC. And we believe we have the key partnerships to help us execute on our pipeline of potential business.

---

| | |
|:---|:---|
| ![](tm236588d1_ex99-2img001.jpg) | ![](tm236588d1_ex99-2img002.jpg) |

---

I'd now like to turn the call over to Guillermo Sierra, VP of Energy Transition at NETC to discuss the transaction and some of the synergies between Vast and Nabors that will make this combination attractive.

**Guillermo Sierra – VP, Energy Transition, Nabors Energy Transition Corp.**

Thanks, Craig.

The technology and infrastructure that Craig just described is really Nabors' bread and butter. It's what we do on the traditional energy side every day, across the planet, quickly and efficiently standing up facilities and operations in harsh environments and operating them safely and with precision. We believe that our global experience and functional expertise represent true value adds for Vast.

We expect deep collaboration between Nabors and Vast in a number of areas. Nabors' approach to leading the energy transition that Tony laid out a few minutes ago is key to this. We believe that our investments and expertise in material science, robotics, automation, remote operations, advanced manufacturing and other areas will allow us to enhance Vast's offering and help expedite its growth. In addition, we intend to leverage Nabors' relationships and the multi-jurisdictional know-how that comes with operating in over 20 countries to make introductions for Vast that may otherwise take a longer time to cultivate. We expect to utilize our experiences to assist in speeding up Vast's development process and enhancing its pipeline of opportunities, especially with respect to the Middle East and the United States.

In addition to all of the above, we believe that Vast will benefit from the collaborative environment we've designed among our portfolio of venture investments. This is already evidenced by certain collaboration agreements signed between Vast and Sage, one of our geothermal venture businesses, as well as between Vast and Natron, a revolutionary sodium-based battery technology business we've invested in. By providing access to all of this knowledge and experience, we believe Vast will be able to accelerate its scale up and broaden the impact of its efforts.

---

| | |
|:---|:---|
| ![](tm236588d1_ex99-2img001.jpg) | ![](tm236588d1_ex99-2img002.jpg) |

---

The potential for collaboration, cost-savings and efficiency through this combination is significant, and we believe this may extend into areas like automated heliostat cleaning, remote real-time monitoring software and systems, data collection and overall engineering firepower. As Vast grows from its current footprint in Australia into the US and other parts of the world, we believe that Vast can benefit from Nabors' experience and lessons learned.

With Vast's differentiated technology and the synergies we see with Nabors, we are excited to present the details of this transaction. Subject to certain conditions, Nabors and AgCentral Energy, the controlling shareholder of Vast, have each agreed to commit up to 15 million US dollars of capital to support the transaction. The company is targeting 35 million US dollars of additional capital from other third-party investors. The pro forma equity value of the combined company is expected to be between 305 and 586 million US dollars depending on the level of redemptions. At closing, the balance of NETC's trust account will be released to Vast. AgCentral Energy and management will roll all of their interests in Vast into the combined company, which we believe reflects their support for the combination, as well as confidence in the go-forward prospects of the combined company.

Listen, this transaction lies at the center of what we have been carefully creating and curating over the last few years on the venture and energy transition side at Nabors. It truly represents the combination of world class, cutting edge, proprietary, evolutionary CSP technology with a global energy technology and operational platform. We believe that Vast will be uniquely positioned to rapidly scale and do their part in solving the storage and dispatch challenges faced by other renewable energy solutions - and NETC, along with Nabors, are excited about this opportunity.

Just another piece to Nabors' commitment to Energy Without Compromise.

We thank you for your time this morning. Have a great day.

**Operator**

That concludes today's conference call. Thank you for joining. You may now disconnect.

## Exhibit 99.2

**Exhibit 99.2**

![](tm236588d5_ex99-2img001.jpg)

Vast Investor Presentation February 2023

![](tm236588d5_ex99-2img002.jpg)

This presentation (together with oral statements made in connection herewith, the "Presentation") is for informational purpos es only to assist interested parties in making their own evaluation with respect to the proposed business combination between Na bor s Energy Transition Corp. ("NETC") and Vast Solar Pty Ltd, an Australian proprietary company limited by shares ("Vast" or the "Company"), and the related transa cti ons (the "Business Combination"). The information contained herein does not purport to be all - inclusive and none of NETC, Vast, nor any of their respective subsidiaries, stockholders, shareholders, affiliates, representatives, control persons, partners, directors, officers, employ ees , advisers or agents make any representation or warranty, express or implied, as to the accuracy, completeness or reliability of the information contained in this Presentation. You should consult your own counsel and tax and financial advisors as to legal and related matters concerning t he matters described herein, and, by accepting this Presentation, you confirm that you are not relying upon the information cont ain ed herein to make any decision. The recipient shall not rely upon any statement, representation or warranty made by any other person, firm or corporation in maki ng its investment or decision to invest in Vast. To the fullest extent permitted by law, in no circumstances will NETC, Vast, or an y of their respective subsidiaries, stockholders, shareholders, affiliates, representatives, control persons, partners, directors, officers, employees, advisers or agents be responsible or liable for any direct, indirect or consequential loss or loss of profit arising from the use of this Pr esentation, its contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection there wit h. In addition, this Presentation does not purport to be all - inclusive or to contain all of the information that may be required to make a full analysis of NETC, Vast, or the Business Combination. Please refer to the business combination agreement and other related transaction documents for the full te rms of the Business Combination. The general explanations included in this Presentation cannot address, and are not intended to address, your specific investment objectives, financial situations or financial needs. Important Information for NETC Stockholders This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or constitute a so licitation of any vote or approval. In connection with the proposed business combination, Vast will file with the Securities and Exchange Commission (the "SEC") a registration statement on Form F - 4 (the "Registration Statement"), which will include (i) a preliminary prospectus of Vast relating to the offer of securities to be issued in connection with the proposed business com bination and (ii) a preliminary proxy statement of NETC to be distributed to holders of NETC's capital stock in connection with NETC's solicitation of proxies for vote by NETC's shareholders with respec t t o the proposed business combination and other matters described in the Registration Statement. NETC and Vast also plan to fil e o ther documents with the SEC regarding the proposed business combination. After the Registration Statement has been declared effective by the SEC, a defin iti ve proxy statement/prospectus will be mailed to the stockholders of NETC. INVESTORS AND SECURITY HOLDERS OF NETC AND VAST ARE UR GED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS CONTAINED THEREIN (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERET O) AND ALL OTHER DOCUMENTS RELATING TO THE PROPOSED BUSINESS COMBINATION THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PRO POSED BUSINESS COMBINATION. Investors and security holders will be able to obtain free copies of the proxy statement/prospectus and other documents containing important information about NETC and Vast once such documents are filed w ith the SEC, through the website maintained by the SEC at http://www.sec.gov . In addition, the documents filed by NETC may be obtained free of charge from NETC's website at www.nabors - etcorp.com or by written request to NETC at 515 West Greens Road, Suite 1200, Houston, TX 77067. Use of Data Certain information contained in this Presentation, including that which relates to Vast's industry and markets in which it o per ates, relates to or is based on third party studies, publications and surveys and the Company's own internal estimates and re sea rch. In some cases, we may not expressly refer to the sources from which this information is derived. In addition, all of the market data included in this Presentatio n i nvolves a number of assumptions, estimates and limitations, and there can be no guarantee as to the accuracy or reliability o f s uch assumptions or estimates; none of the Company, NETC, nor their representatives or affiliates assumes any responsibility for updating this Presentation based on fac ts learned following its use. Finally, while the Company believes such third - party sources and its internal research are reliable, such sources and research have not been verified by any independent source and none of NETC, the Company, nor any of their respective affiliates nor any of its or th eir control persons, officers, directors, employees or representatives make any representation or warranty with respect to the ac cu racy of such information. These and other factors could cause Vast's future performance and actual market growth, opportunity and size and the like to differ mat eri ally from the Company's assumptions and estimates presented herein. Forward - Looking Statements The information included herein and in any oral statements made in connection herewith include "forward - looking statements" with in the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 19 34, as amended. All statements, other than statements of present or historical fact included herein, regarding the proposed Business C ombination , NETC's and Vast's ability to consummate the proposed Business Combination, the benefits of the proposed Business Combinatio n a nd NETC's and Vast's future financial performance following the proposed Business Combination, as well as NETC's and Vast's strategy, future operations, financial pos ition, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward - looking stateme nts. When used herein, including any oral statements made in connection herewith, the words "could, " "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," the negative of such terms and o th er similar expressions are intended to identify forward - looking statements, although not all forward - looking statements contain such identifying words. These forward - looking statements are based on NETC and Vast management's curr ent expectations and assumptions about future events and are based on currently available information as to the outcome and t imi ng of future events. Except as otherwise required by applicable law, NETC and Vast disclaim any duty to update any forward - looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. NETC and Va st caution you that these forward - looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyon d t he control of NETC and Vast. These risks include, but are not limited to, general economic, financial, legal, political and b usi ness conditions and changes in domestic and foreign markets; the inability to complete the Business Combination or the convertible debt and equity financings contemp lat ed in connection with the proposed Business Combination (the "Financing") in a timely manner or at all (including due to the fai lure to receive required stockholder or shareholder, as applicable, approvals, or the failure of other closing conditions such as the satisfaction of the minimum cas h condition following redemptions by NETC's public stockholders and the receipt of certain governmental and regulatory approv als), which may adversely affect the price of NETC's securities; the inability of the Business Combination to be completed by NETC's business combination deadline and t he potential failure to obtain an extension of the business combination deadline if sought by NETC; the occurrence of any event, ch ange or other circumstance that could give rise to the termination of the Business Combination or the Financing; the inability to recognize the anticipated b ene fits of the proposed Business Combination; the inability to obtain or maintain the listing of Vast's shares on a national exc han ge following the consummation of the proposed Business Combination; costs related to the proposed Business Combination; the risk that the proposed Business Combin ati on disrupts current plans and operations of Vast, business relationships of Vast or Vast's business generally as a result of the announcement and consummation of the proposed Business Combination; Vast's ability to manage growth; Vast's ability to execute its business plan, including th e completion of the Port Augusta project, at all or in a timely manner and meet its projections; potential disruption in Vast 's employee retention as a result of the proposed Business Combination; potential litigation, governmental or regulatory proceedings, investigations or inquiries invo lvi ng Vast or NETC, including in relation to the proposed Business Combination; changes in applicable laws or regulations and ge ner al economic and market conditions impacting demand for Vast's products and services. Additional risks are set forth in the section of the Appendix titled "Summ ary Risk Factors" attached to this Presentation and will be set forth in the section titled "Risk Factors" in the proxy statement /p rospectus that will be filed with the U.S. Securities and Exchange Commission (the "SEC") in connection with the proposed Business Combination. Should one or more of th e r isks or uncertainties described herein and in any oral statements made in connection therewith occur, or should underlying as sum ptions prove incorrect, actual results and plans could differ materially from those expressed in any forward - looking statements. Additional information concerning these and other factors that may impact NETC's expectations can be found in NETC's periodic filings with the SEC, inc luding NETC's Annual Report on Form 10 - K filed with the SEC on March 28, 2022 and any subsequently filed Quarterly Reports on Form 10 - Q. NETC's SEC filings are available publicly on the SEC's website at www.sec.gov . Disclaimers & Disclosures (1/2) 2

![](tm236588d5_ex99-2img003.jpg)

Disclaimers & Disclosures (2/2) 3 Participants in the Solicitation NETC, Nabors Industries Ltd. ("Nabors"), Vast and their respective directors and executive officers may be deemed to be parti cip ants in the solicitation of proxies from the stockholders of NETC in connection with the proposed business combination. Infor mat ion about the directors and executive officers of NETC is set forth in NETC's Annual Report on Form 10 - K for the year ended December 31, 2021, filed with th e SEC on March 28, 2022. To the extent that holdings of NETC's securities have changed since the amounts printed in NETC's An nua l Report on Form 10 - K for the year ended December 31, 2021, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 file d w ith the SEC. Other information regarding the participants in the proxy solicitation and a description of their direct and ind ire ct interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC when the y b ecome available. You may obtain free copies of these documents as described in the preceding paragraph. No Offer or Solicitation This Presentation shall not constitute a "solicitation" of a proxy, consent, or authorization, as defined in Section 14 of th e S ecurities Exchange Act of 1934, as amended, with respect to any securities or in respect of the proposed Business Combination . T his Presentation also does not constitute an offer, or a solicitation of an offer, to buy, sell, or exchange any securities, investment or other specific product, or a so licitation of any vote or approval, nor shall there be any sale of securities, investment or other specific product in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securit ies , other than with respect to the Financing, will be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act of 1933, as amended, or an exemption therefrom. NEITHER THE SEC NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THIS PRESENTATI ON OR DETERMINED IF THIS PRESENTATION IS TRUTHFUL OR COMPLETE. In connection with the proposed Business Combniation, Vast will file with the SEC a registration statement on Form F - 4, which will include a prospectus of Vast and a proxy statement of NETC. NETC and Vast also plan to file other documents with the SEC regarding the proposed Business Combination. After the reg istration statement has been declared effective by the SEC, a definitive proxy statement/prospectus will be mailed to the stockholders of NETC. INVESTORS AND STOCKHOLDERS OF NETC ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND OTHER DOCUMENTS RELATING TO THE PROPOSED BUSINESS COMBINATION THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECA USE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION. Investors and stockholders will be able to obtain free copies of the proxy statement/prospectus and other documents containing important information abo ut NETC and Vast once such documents are filed with the SEC, through the website maintained by the SEC at http://www.sec.gov . In addition, the documents filed by NETC may be obtained free of charge from NETC's website at www.nabors - etcorp.com or by written request to NETC at 515 West Greens Road, Suite 1200, Houston, TX 77067. Trademarks and Trade Names Vast, Nabors and NETC own or have rights to various trademarks, service marks and trade names that they use in connection wit h t he operation of their respective businesses. This Presentation also contains trademarks, service marks and trade names of thi rd parties, which are the property of their respective owners. The use or display of third parties' trademarks, service marks, trade names or products in this Pres ent ation is not intended to, and does not imply, a relationship with the Company, Nabors or NETC, or an endorsement or sponsorsh ip by or of the Company, Nabors or NETC. Solely for convenience, the trademarks, service marks and trade names referred to in this Presentation may appear with the®, TM or SM symbols, but such references are not intended to indicate, in any way, that the Company, Nabors or NETC will not as sert, to the fullest extent under applicable law, their rights or the right of the applicable licensor to these trademarks, service marks and trade names. Summary of Contracts Insofar as this Presentation contains summaries of existing agreements and documents, such summaries are qualified in their e nti rety by reference to the agreements and documents being summarized.

![](tm236588d5_ex99-2img004.jpg)

Executive Summary Vast Demonstration Plant near Forbes, Australia

![](tm236588d5_ex99-2img005.jpg)

► The IEA forecasts deployment of up to 430 GW of new CSP capacity globally by 2050 for on - grid applications alone (1) ► Vast has a multi - GW global pipeline of potential CSP projects and 230 MW of projects under development as of February 2023 ► Off - grid applications, green fuel production and process heat could reach more than 1 TW by 2050 (2) ► Up to AUD215 million of funding committed by the Australian and German governments to Vast projects ► Inflation Reduction Act is expected to materially improve project economics and accelerate deployments in the US through the 30+% ITC ► Technology proven through 5 years of piloting prototypes ► Technology de - risked through grid - synchronized demonstration plant which operated for nearly 3 years ► Technology supported by multiple non - dilutive government grants supporting technology evolution (Australia, Germany, US) ► Senior and experienced team has a demonstrated track record of successful project development Proven Success ► Vast has developed the next generation of concentrated solar thermal power system (CSP v3.0) ► Modular tower modality and sodium - based heat transfer technology deliver a design that increases geographical applicability, reliability and efficiency , while reducing complexity, cost and construction time ► System provides competitive, dispatchable and carbon - free: ► power for on - and off - grid applications; ► energy storage; ► process heat; and ► green fuels (e.g., solar methanol, SAF, green hydrogen, among others) Next Gen Technology Vast Company Overview Economic Support 5 (1) Based on IEA's Net Zero Emissions by 2050 forecast. (2) As Prepared by a Top Tier International Management Consulting Firm.

![](tm236588d5_ex99-2img006.jpg)

Next Generation CSP System Delivers dispatchable, carbon - free power and heat Reflect and concentrate the sun's rays onto solar receivers Capture the sun's heat in sodium Use the stored heat directly to: Reflect Capture Store Efficiently transfer heat to molten salt for high density storage Generate 24/7 power Provide process heat Produce green fuels 6

![](tm236588d5_ex99-2img007.jpg)

Transaction Overview 7 The Business Combination Entering Into Agreements With Nabors Transaction: ► Business combination between Nabors Energy Transition Corp. ("NETC") and Vast ► Significant investment commitments secured from existing Vast investor and Nabors ► Represents an attractive entry point for some of the most topical energy transition macro themes: dispatchable power, storage, process heat and green fuels Challenge: ► Decarbonization limited by intermittency in traditional solar PV and wind ► Traditional storage solutions come with many compromises (cost, safety, supply chain, etc.) ► Process heat and liquid fuels are harder to decarbonize given the inherent inefficiency of turning renewable power into heat Solution: ► Vast's CSP v3.0 technology uses thermal energy storage to deliver clean, dispatchable power and heat for utility - scale power generation, green fuels production and process heat applications ► Vast's partnership with Nabors and NETC is expected to drive innovation and accelerate Vast's growth trajectory, while providing mutual benefits for both parties ► Nabors is a global leader in advanced technology for the energy industry, providing oil and gas drilling contracting services valued at over $3.5 billion in enterprise value ► In connection with the transaction, NETC and Vast are expected to enter into several agreements with Nabors: ► Joint Development and Licensing Agreement to jointly develop technology to improve Vast's CSP systems by leveraging Nabors expertise in automation, robotics, remote operations, material science, among others ► Shared Services Agreement with respect to various support functions ► In addition to the transaction, in December 2022 Vast entered into agreements with companies within Nabors' venture platform: ► Agreement between Vast and Sage Geosystems Inc. to collaborate on future solar projects incorporating the Sage geothermal battery + storage technology, which allows for both storage and generation of energy from the earth's heat ► Partnership agreement between Vast and Natron Energy, Inc., a provider of sodium - ion battery products, to use revolutionary Natron batteries in projects using Vast's CSP technology ► Additional opportunities for partnership and collaboration include leveraging Nabors' global supply chain and operational footprint as well as its advanced engineering and engineering expertise, infrastructure resources, market knowledge, technology innovation / competencies and customer / vendor relationships Nabors' Capabilities Maintenance Operations Technology Development Commercial Nabors Ventures Nabors Technology Controls, Software & AI Manufacturing & Facilities Automation & Robotics

![](tm236588d5_ex99-2img008.jpg)

Transaction Overview (Cont'd) 8 $591 336 Cash to Balance Sheet 15 Illustrative Transaction Fees Total Uses Uses ($ in millions) $591 Total Sources Sources ($ in millions) Transaction expected to close in Q2/Q3 2023 $209 Vast Rollover Equity 31 NETC Founder Shares $286 (2) SPAC Cash - In - Trust 35 PIPE Target Raise (3) 209 Vast Rollover Equity 15 AgCentral Energy Investment (4) 15 Nabors Investment (4) 31 NETC Founder Shares (1) Assumes a $10.20 share price. (2) Illustrative, as if no existing SPAC shareholders exercise their redemption right. As of January 31, 2023. (3) For illustrative purposes, assumes $35 million of additional equity capital is raised from third parties. (4) An affiliate of Nabors and AgCentral Energy each committed up to $15 million ($30 million total) in connection with the transaction. Total commitment to be funded in combination of pre - closing Financing. The holders of the convertible debt financing contemplated in connection with the Business Combination (the "Convertible Financing") (up to $5 million for each Nabors and AgCentral Energy) will convert into common equity of Vast at closing of the de - SPAC transaction at a conversion price of $10.20/share. Assumes the equity financing pursuant to the Equity Subscription Agreements entered into in connection with the Business Combination (the "PIPE Financing") (for $15 million for each of Nabors and AgCentral Energy less amounts drawn on the Convertible Financing at certain conditions) will purchase common equity at $10.20/share. Commitment may be reduced to the extent the post - closing cash balance (net of transaction expenses) is greater than $120 million. ► Current Vast owners to roll over $209 million of equity and NETC founder shareholders to receive $31 million of equity in combined company (1) ► $30 million committed from Nabors and AgCentral Energy Pty Ltd (" AgCentral Energy") (4) ► All proceeds raised (after transaction costs) will go to the balance sheet

![](tm236588d5_ex99-2img009.jpg)

Pro Forma Ownership 48% 38% 8% 6% Pro Forma Ownership (1) Existing NETC Shareholders Vast Rollover Equity Nabors and Affiliates Other PIPE Shareholders 9 (1) Assumes a $10.20 share price, excludes the impact of warrants and earnouts. Assumes the Financing and Business Combination close simultaneously. We anticipate that the Convertible Financing will close in advance of the SPAC transaction. (2) Includes shares purchased and committed by Nabors and AgCentral Energy in the Financing. (3) Includes shares issued to the Sponsor and shares purchased and committed by Nabors in the Financing. (4) Illustrative, assumes any additional capital raised from third - parties is invested at the same terms as the PIPE Financing; fina l terms may vary. (2) (3) (4) 57.5 (1) $10.20 $586 Pro Forma Shares Outstanding (mm) (x) Illustrative Share Price Pro Forma Equity Value ($ in millions, expect per share values) $250 (-) Pro Forma Net Cash Pro Forma Enterprise Value ($ in millions) (336)

![](tm236588d5_ex99-2img010.jpg)

Key Investment Highlights 10 (1) Tracking PV Solar + Storage from BloombergNEF 2H 2022 LCOE Update. (2) Includes all patent applications, including applications for the same technology in different countries. (3) Based on IEA's Net Zero Emissions by 2050 forecast. (4) As Prepared by Top Tier International Management Consulting Firm. ► Vast estimates a Levelized Cost of Energy ("LCOE") of $50/MWh at scale compared with $83 - 86/MWh (1) for Tracking PV Solar + Storage ► Vast estimates a capacity factor of 40% - 50% for CSP only, up to 90% with thermal storage and CSP / PV hybrid system ► Option to be hybridized and use biofuels, fossil fuels or geothermal energy to drive the steam turbine when solar energy is i nsu fficient Potential to Deliver Low - Cost, Dispatchable Renewable Energy – the "Holy Grail" of Clean Energy ► Modular tower technology is designed to offer advantages in maintaining stable operating temperatures, reducing probability o f failure and is easier to operate and maintain relative to central tower systems ► Sodium loop offers significant advantages over conventional salt solutions including lower melting temperatures, higher therm al conductivity and greater operating temperature range ► Over 50 applications filed for patents covering the sodium heat transfer system, modular solar array and plant design with ot her components protected through trade secrets (2) Proprietary Technology that Addresses CSP's Historical Reliability and Manufacturability Issues ► End - markets include utility - scale power, process heat (food, cement, chemicals, polymers, others), utility - scale energy storage, hydrogen and green fuels (including methanol for shipping and sustainable aviation fuel among others) ► The IEA forecasts deployment of up to 430 GW of new CSP capacity globally by 2050 for on - grid applications (3) ► Further CSP deployment for off - grid, dispatchable projects, process heat applications and as the energy input for green fuel production could reach more than a terawatt by 2050 (4) ► Vast has a multi - GW global pipeline of potential CSP projects with 230 MW of projects under development as of February 2023 Targets Large Addressable Market ► Approximately $50 million of equity capital required to complete the first commercial project and fund operating expenses ove r t he next 2 - 3 years ► Commercial viability should be established if the first two plants perform as expected and lead to additional commercial inte res t in the technology Attractive Entry Point Provides for Potential Asymmetric Risk / Reward Profile ► Partnership with Nabors should allow Vast to accelerate deployment of its pipeline through access to Nabors' global relations hip s, improve its technology and lower costs through Nabors' supply chain, advanced manufacturing, engineering, automation and robotics expertise as well as its extensive operational experience across the globe Partnership with Nabors Should Accelerate Deployment

![](tm236588d5_ex99-2img011.jpg)

Vast Overview

![](tm236588d5_ex99-2img012.jpg)

What is CSP? 12 Concentrated Solar Power (CSP) systems generate solar power through the use of mirrors that concentrate large areas of sunlight into a receiver as heat, transfer that heat to thermal storage and then use the heat when required to drive a steam turbine and create electricity CSP Key Features x Carbon - free, dispatchable power and heat x Lower cost technology for sun - belt countries x Highly efficient system with minimal losses x Integrated energy storage – thermal battery that charges itself with daylight x Combination of power and heat unlocks efficient green fuel production x Low - risk supply chain – glass and steel rather than PV and lithium

![](tm236588d5_ex99-2img013.jpg)

Why CSP? 13 CSP solves two problems that Wind and Solar PV can't… It's Dispatchable It Can Generate Process Heat Wind and Solar PV are intermittent generators Adding battery storage allows wind and solar PV to be dispatched, but only with limited duration (i.e. 2 - 4 hours), at a high cost and with significant trade - offs CSP provides efficient long - duration storage (i.e. 8 - 16 hours) which makes it comparable to traditional fossil generation Decarbonizing manufacturing is challenging because many industrial processes require heat that can only be efficiently generated by burning fossil fuels CSP can generate process heat equivalent to burning fossil fuels, allowing manufacturers to decarbonize Expands addressable end markets beyond power generation to produce heat for industrial purposes or deliver a mix of power and heat for the production of green fuels such as green hydrogen, green methanol and sustainable aviation fuels, among others

![](tm236588d5_ex99-2img014.jpg)

CSP Seeks to Deliver the Holy Grail of Renewable Energy Dispatchable Renewables Intermittent Renewables Criteria CSP Hydro Wind / PV + Battery Wind Solar PV Capacity Factor 30% – 95% N/A 20% – 50% 25% – 60% 20% – 35% Dispatchable Low - Cost Energy Low - Cost Storage N/A N/A Heat Generation Grid Services Geographic Flexibility Ease of Permitting Ease of Construction 14 CSP is a flexible and competitive source of renewable energy (1) (1) Dispatchability and ability to supply combined electricity and heat.

![](tm236588d5_ex99-2img015.jpg)

So Why Isn't CSP Everywhere? 15 Conventional CSP has suffered from either poor reliability or high cost, which has constrained its growth, despite the technology's inherent advantages Central Tower CSP system's poor reliability has resulted from: Complex construction can lead to project delays and cost overruns Centralized designs rely on a single large tower which dramatically reduces system resiliency and introduces single point of failure risk Conventional CSP systems require significant acreage with particular geographical characteristics that can be hard to find Inadequate thermal process control of molten salt heat transfer and storage fluid causing downstream equipment failures First generation parabolic trough CSP systems' high cost stems from the use of mineral oil as heat transfer fluid which provides for less efficient energy storage, lower operating temperatures and hence inefficient energy cycles

![](tm236588d5_ex99-2img016.jpg)

Vast Solves Conventional CSP's Reliability Problems and High Cost… 16 Conventional CSP Single, central tower or parabolic trough Molten salt or mineral oil Complex design and poor construction track record Non - modular Vast Multiple, distributed towers Molten sodium Simplified construction due to modular design Modular Vast Advantages • 10 - 20% smaller heliostat reflector area • Smaller towers and solar receivers • Greater resiliency with no single point of failure • Faster build time • Superior conductive medium • No need to empty and restart receivers daily • Higher operating temperatures improve energy collection • Faster construction improves locational flexibility • De - risked build process given simpler design • Easier to meet varying customer requirements • Improved thermal control which improves performance and reliability Collector Heat Transfer Fluid Development & Construction Design Source : As Prepared by a Top Tier International Management Consulting Firm.

![](tm236588d5_ex99-2img017.jpg)

Vast Modular Tower Differentiation and Value Proposition Multiple Towers and Receivers No single point of failure risk (unlike a central tower design) resulting in less downtime and increases operational efficiency HTF Stability and Control Lower operational risk through better thermal process control HTF Constantly Circulating Receivers always online which eliminates daily risky pre - warming and start - up procedures and delivers 45 minutes per day of extra production time Reduced Operating and Maintenance Risk Safer and cheaper (requires no specialist equipment) to conduct maintenance on a smaller tower and receiver Turbine Efficiency Improvement 1 - 2% turbine efficiency gains since higher temperature salt allows higher temperature steam Improved Thermal Control Delivers precise operating temperatures improving performance and reliability Configurable Modularity increases the ability to meet customer requirements for both power and heat Dynamic Operating Dispatch may be altered to meet changes in grid circumstances Online Maintenance Unplanned maintenance can be performed while plant is operating which reduces downtime Locational Flexibility Multiple towers allow for more flexible and sensitive siting CSP v3.0 – molten sodium HTF enables modular tower design, unlocking benefits that collectively drive down costs and de - risk ope ration Vast is the only company positioned to drive down CSP costs by delivering the benefits of modular tower arrays Cost Effective Flexible Reliable Lower Capital Costs Modular system requires a 10 - 20% smaller heliostat reflector area due to efficiency gained by proximity to the towers Reduced Construction Time Require less materials shorter construction time and 60% lower site prep costs Smaller, Lower and Pre - Fabricated Towers Smaller, lighter towers erected without specialist equipment Hotter Temperatures Higher operating temperatures deliver improved plant economics in both salt storage and turbine efficiency Sodium HTF Increases annual energy capture by improved transient operation and eliminates need for drainage tanks, outlet vessels or vents in the central tower Source : As Prepared by a Top Tier International Management Consulting Firm. 17

![](tm236588d5_ex99-2img018.jpg)

Criteria Parabolic Trough CSP v1.0 Central Tower CSP v2.0 Vast CSP v3.0 Levelized Cost of Energy Project Scalability Storage Efficiency Power Cycle Efficiency Ease of Permitting Ease of Design Ease of Construction O&M Simplicity …With an Evolutionary Approach to Well - Established Technology Vast CSP v3.0 – a differentiated, proprietary and superior offering 18 Source: Top Tier International Management Consulting Firm, NREL.

![](tm236588d5_ex99-2img019.jpg)

• Solar energy is captured in modular tower arrays, each comprising up to 2,500 heliostats (mirrors) and a solar receiver • Vast software precisely orients the heliostats to maximize concentrated sunlight capture • Solar energy is absorbed and transferred by the sodium heat transfer fluid (HTF) to the molten salt thermal energy storage system (TESS) • Using sodium as HTF enables modularity, higher temperature operation and provides stability to the temperature profile • The steam generation system converts heat stored in hot tanks into steam to drive a turbine and generate electricity • Alternatively, heat from the tanks can be used directly in industrial applications or for green fuel production Generation Vast's CSP v3.0 System – The Next - Generation of CSP Collection (concentration and transient elimination) Storage (thermal battery and buffer) 19 Storage Collection

![](tm236588d5_ex99-2img020.jpg)

Proprietary and Differentiated Area Type Component Technology Patent Pending Receiver Patent Pending Thermal Receiver Controls Patent Pending Heliostat Assembly Patent Pending Heliostat Coupling Area Type Component Operations Trade Secret Construction and Operation of Heliostat Field Trade Secret Heat Transfer Fluid Trade Secret Plant Control Trade Secret Plant Operation Area Type Component Design Trade Secret Heliostat Field Trade Secret Receiver Trade Secret Plant Design Solar Array Process + Storage Vast is pursuing extensive IP protection in all relevant sun - belt countries Identification and protection of new IP is continuous and ongoing Heat Collection 20 Solar Array Components Heat Collection Components Process + Storage Components

![](tm236588d5_ex99-2img021.jpg)

Vast's Technology is Proven Heliostat Prototyping and Testing Modular Array Prototyping and Testing Solar Receiver Prototyping and Testing Utility Scale Project Development 1.1MW Sun - to - Grid Demonstration Plant Located Near Forbes, Australia 2009 - 2010 2010 - 2011 2011 - 2014 2018 - 2019 2014 - 2020 Heliostats Solar Array Tower Solar Receiver Substation Sodium Storage Air Cooled Condenser 1MW Turbine Control Room HTF Piping Marulan 1 ▪ First heliostat generations ▪ Exploratory manufacturing techniques ▪ Optical refinement Marulan 2 ▪ Next generations of heliostats ▪ Optimal heliostat layouts ▪ Field comms and operations Back Station ▪ Water receivers ▪ Sodium receivers to unlock modularity ▪ Sodium operations Technology proven through long duration field testing at multiple sites Received International Energy Agency's SolarPACES 2019 Technical Innovation Award Project Sold Objectives Met 50MW Solar PV ▪ Development, permitting and grid connection secured ▪ Sold shovel - ready to Genex Limited ▪ Plant now built and generating ▪ Approximately 3,500 heliostats configured into 5 modular tower arrays ▪ Co - funded with ARENA ▪ Final - form plant first synchronized with Australian national grid January 2018 ▪ Technology demonstrated, refined and validated ▪ Operability confirmed via operation for 32 months ▪ Technology scalability confirmed 21 5 years of prototyping and testing components leading to a successful grid - synchronized demonstration plant

![](tm236588d5_ex99-2img022.jpg)

(1) As Prepared by a Top Tier International Management Consulting Firm. (2) BloombergNEF 2H 2022 LCOE Report, LCOE range based on Chile, Australia and the US for 2022. (3) LCOE figures reflect range based on 100MW and 200MW illustrative Vast projects in Chile and US (Nevada). Vast Technology Economics: $50 / MWh LCOE Target at scale 23% CSP avg. learning rate 26 % Offshore Wind avg. learning rate 26 % Solar PV avg. learning rate 24 % Onshore Wind avg. learning rate GW C umulative I nstallation 2010 2010 2010 2010 20 2 0 20 3 0 20 4 0 20 2 0 20 3 0 20 4 0 20 2 0 20 3 0 20 4 0 20 2 0 20 3 0 20 4 0 0 2 20 0 30 0 1 5 10 20 50 100 200 500 1,000 2,000 5,000 10,000 10 0 LCOE ($/MWh) Vast: $50/MWh LCOE target at scale 2022 2030 2040 1 Hour Battery (2) 4 Hour Battery (2) CSP + PV (Hybrid) (3) 16 Hours $140 - 234 $121 - 176 $55 - 75 $50 $100 $150 $200 $250 $300 $/MWh 22 Some fluctuations in 2021 - 22 caused by global supply chain constraints and inflationary environment, expected to normalize by 2027 Levelized Cost of Energy Across Various Technologies (1) Levelized Cost of Energy: Comparison to Battery Storage $81 - 111 CSP Only (3) 16 Hours Tracking PV + 4 Hour Battery (2) $83 - 86

![](tm236588d5_ex99-2img023.jpg)

Vast's Business Model • Key activities include: • Planning and permitting • Siting • Feasibility studies • Grid connection studies • Risk assessments • Budget assessments • Identify and develop CSP projects with optionality for Vast to invest / co - invest, manage plants or retain ownership Project Developer • Sourcing and supplying solar arrays to project companies, including: • Heliostats • Receivers and towers • Sodium piping, pumps and tanks • Control systems • Assembly and installation at project site, utilizing automated pop - up engineering facility OEM / Equipment Sales • O&M and software support to projects that employ Vast technology • Customers provided ongoing services including repairs, upgrades and general maintenance for an annual fee Operations & Maintenance (O&M) • In - house EPC capability to enhance the quality of projects and ensure the ability to deliver in key geographies Engineering, Procurement & Construction (EPC) 23 Primary Business Line

![](tm236588d5_ex99-2img024.jpg)

Target Geographies 24 Source: SolarGIS ; dark red and purple areas indicate higher potential output. Focus Region Secondary Region

![](tm236588d5_ex99-2img025.jpg)

Target Markets and Opportunity by 2050 25 Source: As Prepared by a Top Tier International Management Consulting Firm. (1) Based on the total CSP Capacity. Assumes an average plant size of 150MW and revenue per plant of $770 million (average of sam ple projects in Chile and the U.S.). (2) IEA Global Energy and Climate Model 2022. (3) IEA, IRENA Renewable Energy Statistics 2022 & Global Renewables Outlook, ARENA. (4) ARENA: Renewable Energy Options for Industrial Process Heat (2019), IRENA. (5) Excludes Total Generation Capacity (e.g., LNG, Low Sulfur Fuel Oil, etc.) because not considered "Renewable Fuels". Sources: IAT A: Net zero 2050: sustainable aviation fuels, Maersk Mc - Kinney Moller Center: Position Paper Fuel Option Scenarios (2021), IRENA: Innovation Outlook Renewable Methanol (2021), Methanol Institute: An Emerging Marine Fuel (2021). (6) Assumes Synthetic SAF technology will only account for 3% of SAF market in 2030. Includes, blue, green, turquoise, orange and pi nk hydrogen. Sources: IEA, IRENA, COAG Energy Council, BNEF. On - grid Power Generation (2) Off - grid Power Generation (3) 2 1 ~ 1,200 GW 300 - 800 GW 60 - 70 GW 19,800 - 33,878 GW 13,650 – 27,304 GW 90 - 437 GW 75% 1% 46% 14% Industrial Heat (4) 3 2,000 - 2,500 GW 500 - 1,600 GW 40 - 45 GW 45% 5% Renewable Fuels SAF, Ammonia, Methanol (5) Low - Carbon Hydrogen (6) 4 590 - 1,600GW 330 - 920GW 53 - 57% 590 - 1,100 GW 360 - 660 GW 180 - 330 GW 62% ~50% Total Generation Capacity Renewable Generation Capacity Addressable by CSP Over $3.5 Trillion (1) in revenue potential by 2050, based on total addressable market for CSP of 700 – 1,800 GW

![](tm236588d5_ex99-2img026.jpg)

Project Pipeline North America 0.8 GW from 3 Projects Focus Regions Europe / Middle East 0.7 GW from 4 Projects Latin America Central & South America 0.4 GW from 2 Projects Africa 1.1 GW from 5 Projects APAC 0.9 GW from 8 Projects Note: Projects Under Development includes projects with some confirmation of site secured, permitting in place, grid or feasibility st udies proceeding, financing being negotiated, etc. (1) As of February 2023. 26 Vast has 230 MW of projects under development with a total pipeline of 3.7GW (1)

![](tm236588d5_ex99-2img027.jpg)

2025 - VS3 – 150MW VS1 Expansion ► 150MW CSP plant built adjacent to VS1 and SM1 ► Exploring commercial offtake and financing opportunities ► Significant and growing industry demand for dispatchable renewable storage ► Shared O&M delivers economic benefit to VS1 2025 - VS2 – Baseload Solar Hybrid ► 50MW hybrid plant with CSP, PV, battery and gas ► 99.5%+ expected reliability ► Lowest cost generation option for Mount Isa ► 80% carbon - free continuous energy 2022 - 2023 Silicon Aurora 140MW Li - Ion BESS ► 140MW / 140MWh Li - Ion battery ► Option for 2 hours duration ► Substation infrastructure shared with VS1 and SM1 ► Commercial development targeting shovel - ready and saleable by late 2023 2022 - 2026 SM1 – Solar Methanol Demonstration Plant 2022 - 2025 VS1 – Utility Scale Reference Plant Ongoing Consulting Projects Near - Term Deployments Project Development ► World - leading solar methanol demonstration with 20T/day capacity ► Solar Methanol Consortium comprised of quality German and Australian partners ► Strong offtake and investment interest from shipping and aviation companies ► AUD40 million announced funding from Australian and German governments ► Targeting FID in Q2 24 and first methanol in 2026 ► Reference plant for Australian CSP ► 30MW CSP with 8 hours of dispatchable power overnight ► Feed into the National Electricity Market (NEM) other than 10 - 20% for SM1 ► Up to AUD175 million of funding approved from the Australian government (1) ► Targeting FID in Q4 23 and Commercial Operation Date (COD) late 2025 Port Augusta Mount Isa, Australia Port Augusta Expansion 27 (1) Includes AUD110 million of concessional finance and AUD65 million of non - dilutive equity grant.

![](tm236588d5_ex99-2img028.jpg)

Technology Development Vast has developed long - term relationships with an extensive network of technology and supply partners, that help deliver globally competitive products and technology Supply Chain Strong Customers and Partners 28

![](tm236588d5_ex99-2img029.jpg)

Government Support 0 20 40 60 80 0 50 100 150 200 250 $45mm ≤$110mm ≤$65mm AUD80 million $40mm $20mm $20mm Max. AUD220 million Project Equity Under Negotiation 29 Commercial scale reference projects to receive up to AUD215 million confirmed funding for VS1 (left) and SM1 (right) from Australian and German governments VS1 SM1

![](tm236588d5_ex99-2img030.jpg)

Illustrative Unit Economics: Sample 150 MW Projects Chile 150 MW (1) US (Nevada) 150 MW (1) Average Typical Project 150 MW (2) T - 1 T - 2 COD T+1 30 - Year Life of Plant T - 1 T - 2 COD T+1 30 - Year Life of Plant T - 1 T - 2 COD T+1 30 - Year Life of Plant Developer Fee (FID) $14 - - - $14 $17 - - - $17 $16 - - - $16 OEM (During Construction) $158 $158 - - $316 $201 $201 - - $402 $180 $180 - - $360 O&M (Annual After COD) (3) - - $9 $9 $347 - - $9 $9 $359 - - $9 $9 $353 Software Support Fee (Annual After COD) (3) - - $1 $1 $41 - - $1 $1 $41 - - $1 $1 $41 Total Revenue $173 $158 $10 $10 $718 $218 $201 $10 $10 $818 $196 $180 $10 $10 $770 Developer Fee (FID) $9 - - - $9 $11 - - - $11 $10 - - - $10 % Net Margin 65% - - - 65% 65% - - - 65% 65% - - - 65% OEM Margin $32 $32 - - $63 $40 $40 - - $80 $36 $36 - - $72 % Net Margin 20% 20% - - 20% 20% 20% - - 20% 20% 20% - - 20% O&M Margin - - $2 $2 $87 - - $2 $2 $90 - - $2 $2 $88 % Net Margin - - 25% 25% 25% - - 25% 25% 25% - - 25% 25% 25% Software Support Fee - - $1 $1 $41 - - $1 $1 $41 - - $1 $1 $41 % Net Margin - - 100% 100% 100% - - 100% 100% 100% - - 100% 100% 100% Total Net Margin $41 $32 $3 $3 $200 $51 $40 $3 $3 $222 $46 $36 $3 $3 $211 % Margin 24% 20% 33% 33% 28% 23% 20% 33% 33% 27% 24% 20% 33% 33% 27% Note: COD = Commercial Operation Date. T = Years from COD. (1) Illustrative 150 MW Vast project economics are based on the average of a 100 MW and 200 MW project in the same geographic loc ati on. (2) Illustrative Average Typical 150MW Vast Project economics are based on the average of the 150 MW projects in Chile and the U. S. (Nevada). (3) Annual O&M Revenue and Software Support Fees are escalated by assumed inflation of 2.0% annually over the 30 - year operating life of the plant and added as a simple sum. 30

![](tm236588d5_ex99-2img031.jpg)

Vast's Team Craig Wood - Chief Executive Officer • Joined Vast as CEO in 2015 • 23 years of leadership experience in corporate management and structured finance across the energy and technology sectors • Previously served as CEO of Brownes Dairy and Director at Archer Capital • Master of Science in Finance from the London Business School, Rhodes Scholar at the University of Oxford and Bachelor of Science in Mechanical Engineering from the University of Western Australia Kurt Drewes - Chief Technology Officer • Joined Vast in 2017 • Over 14 years of experience in renewable and CSP technology in various project management roles at ACWA and Abengoa and as Head of Production Management at Novatec Solar • Leading roles in many CSP projects including AWCA's NOOR 3 project and Abengoa's Khi Solar One project • Master of Business Administration from the University of Capetown and Bachelor of Science from the University of Witswatersrand Lachlan Roberts - Head of Construction • Joined Vast in 2021 • 24 years of experience in construction and project management in the energy, mining and infrastructure industries • Pre viously served as a General Manager for Monadelphous Engineering overseeing over 1,000 contractors • Master of Business Administration from the University of Melbourne and Bachelor of Mechanical Engineering from University of Western Australia Christina Hall - Head of Finance • Joined Vast in 2016 • 23 years of experience in accounting, financial and operational advisory • Previously served as a Director in PwC's Corporate Advisory and Restructuring practice • Registered with the Australian Institute of Chartered Accountants and the Australian Institute of Company Directors Bruce Leslie - Head of Products • Joined Vast in 2018 • 37 years of experience in engineering, multi - disciplinary technical projects and commercialization of engineering designs • Over 15 years of experience in renewable energy • Doctor of Mechanical Engineering from the University of Queensland and Master of Engineering Science from the University of Queensland Simon Woods - Head of Transactions • Joined Vast in 2021 • 27 years of experience in investing, banking and law with a focus on project and structured finance • Previously served as an Investment Director at ARENA leading investments across renewable energy and enabling technologies • CFA C harterholder and admitted as a solicitor in Queensland, England and Wales Gilein Steensma - Head of International BD • Joined Vast in 2021 • 36 years of business development experience across the energy sectors and specializing in the clean energy transition • Previously served as VP Energy Transition at Worley and managing renewable energy projects including CSP and green hydrogen projects in Morocco, Chile, South Africa, Kuwait, UAE and Spain • Doctor of Philosophy with the Colorado School of Mines and Master of Science from the University of Alaska Fairbanks Alec Waugh - General Counsel • Joined Vast in 2016 • 24 years of legal, commercial and intellectual property experience • Previously serv ed as legal counsel across a range of industries including agricultural services and manufacturing • Diploma in Law (SAB) from Sydney University and admitted as a solicitor since 1997 Experienced Entrepreneurial 31

![](tm236588d5_ex99-2img032.jpg)

NETC's Team (NYSE:NETC) World - Class Established Anthony G. Petrello - President, CEO, Secretary, & Chairman • 36 years of management, operations, commercial, technical, technological and strategic expertise on a global basis • Nabors' President and CEO since 2011 and Chairman of the Board of Nabors since 2012 • C o - inventor of four patents for drilling rig substructures William Restrepo - Chief Financial Officer • 36 years of international management, capital markets, M&A, strategic planning and operations experience globally • Nabors' CFO since 2014 • 20 year career with Schlumberger in senior strategic, financial and operational management roles across regions Guillermo Sierra – VP, Energy Transition • 15 years of energy, infrastructure, logistics, corporate strategy, capital markets and M&A expertise • Worked on ~60 transactions representing over $200 billion within some of the leading investment banking energy franchises • Principal experience through strategy and M&A roles within energy industry Siggi Meissner - Pres. of Engineering & Technology • Nabors' President of Global Drilling and Engineering since 2015 • Leads Nabors' operational and technological efforts to develop cleaner and more efficient drilling operations, as well as the internal development of technologies and solutions in the Energy Transition space John Yearwood – Board Director Maria Jelescu Dreyfus – Board Director Jennifer Roberts – Board Director Colleen Calhoun – Board Director 32

![](tm236588d5_ex99-2img033.jpg)

70%+ Active in markets comprising of global oil and gas production 15+ Located in countries, with a diversified customer base 300+ Global service assets Nabors delivers global relationships, reach and manufacturing and supply chain capabilities A Unique Sponsor Leading international franchise with significant growth opportunities 33

![](tm236588d5_ex99-2img034.jpg)

Leveraging Nabors' Capabilities to Accelerate Vast's Global Deployment 34 (NYSE: NBR) Nabors' Capability Vast Applicability Strategic Automation & Robotics ▪ Mirror cleaning ▪ Automated pop - up manufacturing Manufacturing & Facilities ▪ Global supply chain Global field and technical support Controls, Software & AI ▪ Mirror array controls ▪ Remote operations ▪ Fluid control systems Nabors Technology ▪ Material sciences ▪ Hydrogen Nabors Ventures ▪ Revolutionary battery tech (Natron Energy, Inc.) ▪ Baseload energy enhancer (Sage Geosystems Inc.) Scaling Commercial ▪ Global relationships in key markets: U.S., Middle East, and Latin America Technology Development ▪ Engineering capabilities ▪ IP procedures Maintenance Operations ▪ Remote control centers ▪ Continuous monitoring of field hardware Public Readiness Accounting HR Legal Multijurisdictional Expertise Processes and Procedures

![](tm236588d5_ex99-2img035.jpg)

Appendix

![](tm236588d5_ex99-2img036.jpg)

Market Opportunity

![](tm236588d5_ex99-2img037.jpg)

On - Grid Opportunity 6.4 16.7 48.8 89.5 2020 2030 2040 Low case – IEA Stated Policies Scenario (STEPS) High case – IEA Net Zero Emissions (NZE) Global projected CSP capacity (in GW – IEA 2022) 6.4 63.7 282.6 436.5 2030 2020 2040 Global projected CSP capacity (in GW – IEA 2022) Scenario description Scenario assumes that only policies which have already been public stated, committed to and backed by funding & specific measures are implemented; this will lead to global targets for emission reductions being missed Scenario description Scenario implies the energy sector reaching net zero CO 2 emissions by 2050; this scenario also indicates achievement of UN Sustainable Development Goals and is consistent with limiting global temperature rise to 1.5ºC 2050 2050 9.2% CAGR 15.1% CAGR On - grid CSP capacity expected to grow rapidly to 2050 IEA expects CSP deployments to grow between 13x to 62x today's deployments for on - grid applications only 37

![](tm236588d5_ex99-2img038.jpg)

Off - Grid Opportunity 38 2030 15 – 20 GW 60 – 70 GW CSP Capacity (1) Renewable Capacity (2) Total Generation Capacity (3) 120 – 290 GW 300 – 800 GW +5% p.a. +6% p.a. ~720 GW ~1,200 GW +3% p.a. 2030 2030 2050 2050 2050 Off Grid Capacity (3) Off - grid demand estimated to be 15 – 20 GW in 2030 and increasing at 6% CAGR 1. Assumed CSP capacity in 2030 of 15 – 20 GW and growing at 6% CAGR to 2050, based on historic growth rate of mine and main applicability of technology to mine sites with appropriate characteristics (e.g. sufficient energy requirement, solar irradiance, etc.) CSP right to win based on ability to provide storage capacity for peaking & overnight loads 2. Renewable off - grid capacity: IRENA forecasts renewables to account for 40% of total in 2030, increasing to 66% by 2050 under net zero scenario, and 17% in 2030 3. Expect an increasing use of renewable generation in order to increase electricity supply, improve reliability & reduce costs 3. Total off - grid capacity assumes approx. 6% of total on - grid (per ARENA) Growth in total generation lower than renewables due to increasing grid connections (e.g. in Sub - Saharan Africa, and Asia); however use of off grid power in mine sites & other industrials Source: IEA, ARENA, IRENA, Top Tier International Management Consulting Firm.

![](tm236588d5_ex99-2img039.jpg)

Heat Generation Opportunity 39 2030 10 – 40 GW 40 – 45 GW CSP (1) Renewable Capacity (2) Total Generation Capacity (3) 300 – 1000 GW 500 – 1,600 GW +3% p.a. +3% p.a. 1,800 – 2,250 GW 2,000 – 2,500 GW <1% p.a. 2030 2030 2050 2050 2050 Projected Heat Production Capacity CSP has strong potential to grow in heat production, with 10 – 40 GW addressable market in 2030 growing at 3% CAGR from 2030 to 2050 1. CSP range based on 4% of industrial processes requiring 240 - 400C heat (per IEA) and sites requiring >40MW power (7% of sites per ARENA) (Vast technology can reach 600C but can be extended to 750 - 800C) CSP has a ~40% cost advantage vs. other renewable solutions (e.g., PV + heat; $14/GJ vs. $8 - 11/GJ for CSP), driving relatively higher CSP share Further given most sites are brownfield, harder to penetrate market 2. IRENA forecasts renewables to account for 40% of total in 2030 increasing to 66% by 2050 under net zero scenario, and 17% in 2030 and 25% under planned energy scenario 3. IRENA forecast for total energy increases from 134 EJ in 2030 to 131 EJ in 2050; reduction due to increased electrification over time Lower end based on ratio of (22x) total electricity used in industrial processes in priority countries vs. Australia (per ARENA 2019) Industrial heat demand by temperature range, 2018 % 50% 6% 20% 9% 15% 0 C 60 C 100 C 200 C 400 C >400 C Source: IEA, ARENA, IRENA, Top Tier International Management Consulting Firm.

![](tm236588d5_ex99-2img040.jpg)

40 Source: As Prepared by a Top Tier International Management Consulting Firm. DNV GL, JP Morgan, IRENA, Maersk Mc - Kinney Moller Center, Me thanol Institute, press articles, National Hydrogen Strategy; Irena; COAG Energy Council; BNEF; Wood Mackenzie; IEA Roadmap to Net Zero by 2050; IRENA World Energy Transitions Outlook: 1. 5C Pathway; CEFC Australian hydrogen market study; Qantas 2022 Sustainability Report; U.S. Energy Information Administration (1) Top 10 ports are in China (already included in priority countries), Singapore, South Korea (Busan), and Netherlands (Rotterda m) Renewable Fuels Opportunity Methanol Low - carbon Hydrogen Key use case Renewable volume ~7MT ~113MT ~6MT ~73MT Key assumption for GW conversion • Green Hydrogen energy density: ~37MWh / tonne • Process efficiency: ~82% • Capacity factor: 58 - 96% • Methanol energy density: 6.2MWh / tonne • Methanol production process efficiency: 48 – 52% • Capacity factor: 58 - 96% Based on average of Methanol Institute and Maersk McKinney forecasts Low - carbon hydrogen based on stated policies. Green hydrogen shared based on IEA forecasts Green Hydrogen Estimated renewable market (GW) 9 - 17 120 - 220 25 - 50 360 - 660 Key assumption for CSP share of market Lower end: (20%) assume same proportion will be captured as off - grid CPS power genreation Higher end: (59%) priority countries with high irradiance can produce green Hydrogen using CSP Est. suitable for CSP Market (GW) Ammonia ~74MT ~185MT 2030 2050 • Energy required per tonne of Ammonia: 9.2 – 10 MWh • Capacity factor: 58 - 96% (assumes 8 – 11 hours of sunlight and CapEx invested for additional 6 – 12 hours of thermal storage and PV) Based on average of IRENA and Maersk McKinney forecasts 80 – 150 270 – 460 2030 2050 Assumes that priority countries suitable for CSP will produce methanol for the ships in their ports + ships in the top 10 largest ports in the world that can store fuel. (1) These ships account for ~47% total fuel consumption 2030 2050 SAF <1 Bn L 90 – 260 Bn L • SAF energy density: 35 MJ / L • Process efficiency: 52.7% • Capacity factor: 58 - 96% 2030 based on planned production, 2050 based on 20% and 50% SynFuel scenarios Synthetic Fuel (non - bio) 1 - 3 200 - 940 Assumes countries with sufficiently high solar irradiance for CSP have a share of Synthetic SAF production that is proportional to the amount of Aviation activity in their region: ~64% Assumes that priority countries suitable for CSP will produce methanol for the ships in their ports + ships in the top 10 largest ports in the world that can store fuel. (1) These ships account for ~47% total fuel consumption 1 - 2 120 - 600 4 - 8 55 - 100 35 - 70 120 - 220 10 - 25 180 - 330

![](tm236588d5_ex99-2img041.jpg)

Risk Factors

![](tm236588d5_ex99-2img042.jpg)

Summary of Risk Factors 42 Risks Relating to Vast's Business • If the demand for Vast's CST and CSP technology does not grow as anticipated, it will negatively impact Vast's revenue and ha rm the overall performance of the company. • If Vast is not successful in securing new contracts and / or developing the projects in its pipeline, it could negatively imp act Vast's business operations and financial performance. • Vast expects to invest in growth for the foreseeable future, and there is a risk that Vast may fail to manage that growth eff ect ively. • If Vast is not able to appropriately manage its growth strategy, its business operations and financial results could be adver sel y affected. • A material reduction in the retail price of traditional utility - generated electricity or electricity from other sources could ha rm its business, financial condition, results of operations and prospects. • Vast will likely require a significant amount of capital to achieve its growth plans but obtaining it may be uncertain as Vas t m ay not be able to secure additional financing on favorable terms, or at all. • Vast may invest large amounts of resources in its project development and construction activities, in particular its IEP busi nes s line, without first securing project financing, which could raise its expenses and make it harder to recoup its investments. • Vast may not be able to successfully finish or operate its projects in a way that makes a profit and / or meets its customers ' r equirements. • Vast is a growth - stage company with a history of operating losses, and it will likely incur substantial additional expenses and operating losses in the future. • Vast's revenue, expenses, and related financials may fluctuate significantly. • An increase in the cost of materials and commodities used as inputs or otherwise in Vast's business could adversely affect it s b usiness. • The failure of Vast's suppliers to continue to deliver necessary raw materials or other components required for Vast's projec ts in a timely manner or at all, or Vast's inability to obtain substitute sources of these components on a timely basis or on terms acceptable to us, could adversely affect Vast's business. • Vast requires certain specialty materials and components that may be subject to supply chain disruptions and the inability to ob tain such materials and components on a timely basis or on terms acceptable to us, could adversely affect Vast's business. • Certain estimates of market opportunity and forecasts of market growth may prove to be inaccurate. • Expanding Vast's operations beyond Australia is a planned avenue for growth, but this strategy comes with additional risks th at it may not encounter domestically. These risks could have a material adverse effect on its business and financial performance. • Vast operates in a highly competitive industry, where its present or future competitors may be able to compete more effective ly than Vast does, which could have a material adverse effect on Vast's business, revenues, growth rates, and market share. • Should it seek to dispatch during daylight hours, CSP faces competition from both rooftop and utility scale PV electricity ge ner ation in the Australian Electricity Market. The success of PV generating during daylight hours in the Australian Electricity Market depresses the price at which a CSP plant can sell electricity during the day . • CSP faces competition from existing coal - fired and other power plants that over their longer periods of operation have already a mortized their fixed project costs and now offer energy at marginal costs that are difficult for newly - built plants to match. • Securing government support such as grant funding and concessional debt financing may result in increased government oversigh t a nd regulation for Vast. • The green hydrogen and downstream derivative production industry is an emerging market and it may not receive widespread mark et acceptance. • Debt financing typically required for large and utility - scale projects such as VS1 and the other projects in Vast's pipeline requires, for example, a third - party energy assessment and a third - party engineering report in form and substance satisfactory to the lenders. Failure to obtain such assessments and reports could result in dela ys, increased expenses or project cancellation. • Vast's business is subject to risks associated with construction, utility interconnection, cost overruns and delays, including those r elated to obtaining government permits and other contingencies that may arise in the course of completing installations. • CSP v3.0 construction is complex and engineering, procurement and construction of VS1 and other Vast projects may require Vas t t o negotiate, engage and oversee multiple construction companies on split EPC contracts which may result in delay and cost overruns. • A portion of Vast's activities are conducted through variable interest entities, and changes to accounting guidance, policies or interpretations thereof could cause Vast to materially change the presentation of its financial statements.

![](tm236588d5_ex99-2img043.jpg)

Summary of Risk Factors (cont'd) 43 Risks Relating to Vast's Business (cont'd) • VS1 is critically important to the future of the business. The project may be delayed due to factors such as a complex grid c onn ection process, permitting delays, updated legislation forcing permits to be re - acquired, failure to attract the required financing, construction delays, cost overruns, loss / theft of a key piece of equip men t, longer than expected commissioning process and a slower than expected ramp - up of production post commissioning. A delay / failure in the delivery of VS1 could materially impact Vast's overall growth stra teg y and substantially reduce the potential to commercialize Vast's product offering. • VS1 involves an approximately 30X scale up relative to the JSS Pilot Plant which exposes Vast to significant risk associated wit h factors such as technology readiness, organizational capability to deliver and production ramp up. • Vast is only a 50% owner of SiliconAurora whose support is critical to ensure the success of VS1 and other projects in the pipeline. Should Vast lose control of this e nt ity / fail to appropriately manage this business with its co - investors, 1414 Degrees Pty. Ltd, it may significantly delay Vast's projects and have material adverse outc omes for the overall prospects of the business. • Elevated interest rates could adversely affect Vast's business, its results of operations and its financial condition. • Construction of Vast's projects requires it to rely on the experience and resources of designers, general contractors and sub con tractors, who may experience financial or other problems during the design or construction process and their failures may delay or prevent completion of its projects which may materially adversely affect it s business, financial condition and results of operations. • Delays in the construction of Vast's projects or significant cost overruns could present significant risks to its business an d c ould have a material adverse effect on its business, financial condition and results of operations. • A work interruption, strike or other union activities by the employees of Vast's suppliers, contractors or subcontractors cou ld have a material adverse effect on its business, financial condition and results of operations. • It is difficult, if not impossible, to forecast Vast's future results, and Vast has limited insight into trends that may emer ge and affect Vast's business. • Vast may be unable to execute on its business model or develop its technology, which would have a material adverse effect on Vas t's operating results and business, would harm Vast's reputation and could result in substantial liabilities that exceed its resources. • Vast may be unable to raise the necessary capital to implement its business plan and strategy, and Vast may not be able to sa tis fy the conditions precedent to funding of the DOE, ARENA and the German government grants. • If Vast needs to raise additional funds, there is a risk that these funds may not be available on terms favorable to Vast or Vas t's shareholders, or at all when needed. • Vast faces significant competition and that its competitors may develop competing technologies that are more efficient or eff ect ive than Vast's. • There is a risk that Vast may not be able to attain the supplies and products for its projects. • If Vast is unable to enter into commercial agreements with its current suppliers or its replacement suppliers on favorable te rms , or if these suppliers experience difficulties meeting Vast's requirements, the development and commercial progression of Vast's projects may be delayed. Risks Related to Vast's Technology • CST and CSP plants developed using Vast's technology may not generate the levels of output estimated by Vast's production mod els . • Vast may be unable to adapt its technologies and products to meet shifting customer preferences or industry regulations, and Vas t's rivals could create products that reduce the need and / or demand for its offerings. • The development and delivery of Vast's modular CSP v3.0 plants will require substantial funding. Vast's projects may rely on out side sources to finance this, and such financing may not be available on favorable terms or at all. • Commercial deployment of new power generation technology, such as CSP v3.0 is difficult. • Vast may experience issues with scaling up Vast's technology to the size required for VS1 and other large and utility - scale proj ects, which may have a material adverse effect on Vast's business in the form of higher costs, reduced demand and delayed growth. • Vast's business may be harmed if it fails to properly protect its intellectual property, and Vast may also be required to def end against claims or indemnify others against claims if its intellectual property infringes on the intellectual property rights of third parties. There is also a risk that Vast may not have adequate intellec tua l property rights to carry out its business, may need to defend itself against patent, copyright, trademark, trade secret or other intellectual property infringement or misappropriation claims, and may need to en for ce its intellectual property rights from unauthorized use by third parties. • Vast's business and growth strategy relies on having continued access to sodium metal used as the primary HTF. There are a li mit ed number of suppliers of this product and any issues that impede of remove these suppliers from the market could have an outsized impact on the overall prospects of the business.

![](tm236588d5_ex99-2img044.jpg)

Summary of Risk Factors (cont'd) 44 Risks Related to Vast's Technology (cont'd) • Vast will have to share information with suppliers and construction partners which may result in unauthorized disclosure or u nin tended transmission of trade secrets or know - how resulting in a loss of its competitive advantage. • The successful delivery of a plant utilizing Vast technology requires the integration of a number of small and large packages of components, technologies and processes. Failure to integrate these appropriately could result in significant underperformance of the plant, which would result in a loss of reputation in the ma rke t and a material adverse impact on the business. • Due to the relatively nascent nature of Vast's technology and lack of familiarity of the technology with existing contractors , t here is a risk that the contractors Vast engages fail to follow CSP engineering best practices, which may result in poor performance, breakdowns, cost and schedule overruns which could materially impact the com mer cial viability of projects using its technology. • Vast intends to manufacture products that it has designed / co - designed and refined over many years that are yet to be produced in commercial quantities. This includes, but is not limited to, heliostats, sodium receivers, sodium / salt heat exchangers, and / or control system software. There is a risk that the quality of Vast' s m anufactured products is inadequate, the ramp up of manufacturing takes longer than expected and / or costs significantly more than expected, any of which may result in poor performance of its plants, a l oss of confidence in the technology and failure to deliver on its growth strategy. • Vast has not yet integrated a molten salt TESS into its overall technology offering. Molten salt TES is a key driver of the o ver all economics of Vast's technology and failure to integrate it appropriately at VS1 and other future projects could have a material adverse effect on the attractiveness of its technology to future investors an d c ustomers which could significantly impede its growth strategy. Risks Relating to Legal Matters and Regulations • Vast's business, financial condition, results of operations and prospects may be materially adversely affected by the extensi ve regulation of its business. • Any reductions or modifications to, or the elimination of, governmental incentives or policies that support renewable energy in general, and CSP / CST in particular, could have a material adverse effect on Vast's business, financial condition, results of operations and prospects. • Existing electric utility industry regulations, and changes to regulations, may present technical, regulatory and economic ba rri ers to the purchase and use of solar energy offerings that may significantly reduce demand for Vast's solar energy offerings. Risks Related to Vast's Operations • Vast's business will depend on experienced and skilled personnel and substantial specialty subcontractor resources with empha sis on key offshore personnel that may be required (e.g., turbine suppliers) to verify the installation, and if Vast loses key personnel or if it is unable to attract and integrate additional skilled perso nne l, it will be more difficult for Vast to manage its business and complete projects. • Vast Solar uses sodium, a material that is highly reactive and can be dangerous when inappropriately handled, as an HTF. • Hydrogen and methanol are flammable fuels that are inherently dangerous substance. • Security and privacy breaches, loss of proprietary information, and service interruptions caused by computer malware, viruses , r ansomware, hacking, phishing attacks, and other network disruptions could have a negative impact on Vast's business. • Adverse weather conditions and natural disasters may have a negative impact on Vast's operations. This includes, but is not l imi ted to, short term phenomena such as volcanic eruptions and long term deviations to the weather resource relative to historical periods. • The operation and maintenance of Vast's facilities are subject to many operational risks, the consequences of which could hav e a material adverse effect on Vast's business, financial condition, results of operations and prospects. • CSP v3.0 requires the use of a number of complex components, equipment and interconnections, some of which have been custom d esi gned by or for Vast and have not been used in commercial projects in the past. Any failure of such components, equipment or interconnections could result in delays, impaired performance, increas ed costs and damage to Vast's reputation. • The performance of Vast's technology may be affected by field conditions and other factors outside of its control, which coul d r esult in harm to its business and financial results. • The equipment Vast procures and manufacture may have shorter lifetime and / or degrade faster than expected resulting in the los s of a competitive advantage, which could result in harm to its projects, reputation in the market and financial results. • Plants using Vast technology are large industrial facilities that may attract negative attention from protestors and / or loc al communities around the presence of an industrial asset, which could result in a loss of its social license to operate and lawsuits which could have an adverse impact on Vast's financials. • Vast may fail to secure the Major Hazard Facility licenses and other relevant licenses for VS1 and other projects from releva nt federal, state and local regulators resulting in its plants being forced to remain shut down for extended periods of time resulting in a materially adverse impact to the overall production of the plant. • A major safety incident which occurs on one or more of Vast's projects during construction, commissioning and / or operations co uld result in harm to personnel, environment and property, which could further result in the creation of material liabilities, shutdown of site for extended time periods, severely tarnish the reputation o f i ts technology and substantially reduce likelihood of winning future projects.

![](tm236588d5_ex99-2img045.jpg)

Summary of Risk Factors (cont'd) 45 Risks Related to Vast's Operations (cont'd) • The energy transition process broadly is a future multi - trillion dollar investment thesis and a number of companies will be comp eting for exceptional talent thus resulting in risks associated with talent acquisition. • As a pre - revenue company, Vast will be competing with much larger and well capitalized companies which may make it difficult to attract and retain necessary to develop and expand its business. • As a company intending to operate internationally, changes in future tax legislation in the countries in which Vast plans to ope rate can have a material negative impact on Vast. • As an early, developmental stage publicly - traded company, Vast will be subject to unique risks. Risks Related to Australia • It may be difficult to enforce a judgment in the United States against Vast and its officers and directors, assert U.S. secur iti es laws claims in Australia or serve process on Vast's officers and directors. • As a foreign private issuer, Vast will be exempt from a number of rules under the Securities and Exchange Act of 1934, Vast w ill be permitted to file less information with the SEC than domestic companies and permitted to follow home country practice in lieu of the listing requirements of NYSE, subject to certain exceptions. Accordi ngl y, there may be less publicly available information concerning Vast than there is for issuers that are not foreign private issuers. • Australian takeovers laws will apply to the Company and any party seeking to make a proposal to acquire the company will need to comply with those laws. They prescribe processes, disclosures and requirements which may differ from those under equivalent US laws and therefore may impact the terms on which parties may be wil ling to make such an acquisition proposal or to acquire large numbers of Vast's ordinary shares. • Vast's Constitution and other Australian laws and regulations will apply to any corporate and other actions which the company may se ek to take in the interests of its shareholders. The terms on which such actions can be taken may be impacted by the constitution and those Australian laws and regulations. • Expanding Vast's operations beyond Australia is a planned avenue for growth, but this strategy comes with additional risks th at it may not encounter domestically. These risks could have a material adverse effect on its business and financial performance. Risks Related to the Business Combination • There is a risk that the potential benefits of the Business Combination may not be fully achieved or may not be achieved with in the expected timeframe. • There is a risk that a significant number of NETC stockholders elect to redeem their shares prior to the consummation of the Bus iness Combination pursuant to the NETC Charter, which would potentially make the Business Combination more difficult to complete by reducing the amount of cash available to the combined company to execu te its business plan following the Closing, causing the minimum cash condition not to be satisfied. • There are risks and potential costs to NETC if the Business Combination is not completed, including the risk of diverting man age ment's focus and resources from other business combination opportunities, which could result in NETC being unable to effect a business combination in the requisite time frame and force NETC to liquid ate . • There are risks in the fact that the Business Combination Agreement includes an exclusivity provision that prohibits NETC fro m s oliciting other business combination proposals, which restricts NETC's ability, so long as the Business Combination Agreement is in effect, to consider other potential business combinations. • There is a risk that NETC's stockholders may fail to provide the votes necessary to effect the Business Combination. • There is a possibility of litigation challenging the Business Combination or that an adverse judgment granting permanent inju nct ive relief could indefinitely enjoin consummation of the Business Combination. • There is a risk that the Closing might not occur in a timely manner or that the Closing might not occur at all, despite NETC' s e fforts. • Completion of the Business Combination is conditioned on the satisfaction of certain Closing conditions that are not within N ETC 's control. • There are risks of incurring significant fees and expenses associated with completing the Business Combination and the substa nti al time and effort of management required to complete the Business Combination. • The existence of financial and personal interests of NETC's directors and management may result in conflicts of interests bet wee n what they may believe is in the best interests of NETC and its shareholders and what they may believe is best for themselves. In addition, NETC directors and management have interests in the Business C omb ination that may conflict with the interests of shareholders. Risks Related to the CST / CSP Industry • Demand for Vast's CST and CSP technology may not grow as anticipated. • Should it seek to dispatch during daylight hours, CSP faces competition from both rooftop and utility scale PV electricity ge ner ation in the Australian Electricity Market. The success of PV generating during daylight hours in the Australian Electricity Market depresses the price at which a CSP plant can sell electricity during the day . • Any reductions or modifications to, or the elimination of, governmental incentives or policies that support renewable energy in general, and CSP / CST in particular, could have a material adverse effect on Vast's business, financial condition, results of operations and prospects.

![](tm236588d5_ex99-2img046.jpg)

Reliable, Controllable, Stored Energy. Vast Solar Pty Ltd ABN 37 136 258 574 vastsolar.com

## Exhibit 99.3

**Exhibit 99.3**

**The following is an article that was originally published by Reuters on February 14, 2023, which contains quotes from Guillermo Sierra, an officer of Nabors Energy Transition Corp. ("NETC"), regarding NETC's proposed transaction with Vast Solar Pty Ltd.**

**Australian solar firm Vast agrees $586 mln merger with Nabors SPAC**

By David French

NEW YORK - Feb 14 (Reuters) Vast Solar has agreed to combine with a special purpose acquisition company (SPAC) backed by Nabors Industries (NBR.N) in a deal which will take the Australian company public in New York at a valuation of up to $586 million, the companies told Reuters.

SPAC Nabors Energy Transition Corp (NETC.N) is combining with Sydney-based Vast, which has been developing proprietary technology in concentrated solar power (CSP).

Unlike more commonplace photovoltaic (PV) solar panels which convert light into electricity, CSP uses mirrors to focus sunlight onto a receiver, which gathers the sun's energy as heat in sodium.

Since heat can be stored more effectively, CSP holds energy for longer periods of time than PV solar, helping to solve the latter's intermittency when the sun goes down.

The combination with NETC will provide up to $351 million of gross proceeds. Vast's business plans include building a utility-scale CSP plant - known as VS1 - in Port Augusta in South Australia, due to become operational in 2025, the companies told Reuters.

Vast also plans to combine its power generation technology with a facility on the same site producing green methanol.

The company believes its CSP technology will have a significant customer base in hot, arid climates including the U.S. Southwest, the Middle East and North Africa, and Australia.

Nabors is a global player in the oilfield services industry. Like other companies which made their names drilling oil and gas wells, the Houston-based company is looking to a future where fossil fuels hold a smaller role in the economy.

Guillermo Sierra, who leads energy transition strategy at Nabors, told Reuters the SPAC's combination with Vast would complement some of Nabors' existing investments in clean energy, and would offer the company a significant position in a key future technology.

"This is not a science experiment, but a responsible entry point that will allow us to capture a lot of upside," Sierra said in an interview.

*Reporting by David French in New York; editing by Jason Neely*

## Exhibit 99.4

**Exhibit 99.4**

**SUBSCRIPTION AGREEMENT**

This SUBSCRIPTION AGREEMENT (this "<u>Subscription Agreement</u>") is entered into [ ], 2023, by and between Vast Solar Pty Ltd., an Australian proprietary company limited by shares (the "<u>Issuer</u>") and the undersigned ("<u>Subscriber</u>").

WHEREAS, concurrently with the execution and delivery of this Subscription Agreement, Nabors Energy Transition Corp., a Delaware corporation ("<u>NETC</u>"), the Issuer, Neptune Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of the Issuer ("<u>Merger Sub</u>"), Nabors Energy Transition Sponsor LLC, a Delaware limited liability company, and Nabors Industries Ltd., a Bermuda exempted company, are entering into that certain Business Combination Agreement (as it may be amended, restated or otherwise modified from time to time, the "<u>Business Combination Agreement</u>") pursuant to such agreement, among other things, the Merger Sub will merge with and into NETC, with NETC surviving as a wholly owned direct subsidiary of Issuer, on the terms and subject to the conditions set forth therein (the "<u>Business Combination</u>");

WHEREAS, in connection with the Business Combination, on the terms and subject to the conditions set forth in this Subscription Agreement, Subscriber desires to subscribe for and purchase from the Issuer that number of Class A ordinary shares in the capital of the Issuer ("<u>Ordinary Shares</u>") set forth on the signature page hereto (the "<u>Acquired Shares</u>") for a purchase price of $10.20 per share (the "<u>Share Purchase Price</u>", and the aggregate purchase price set forth on the signature page hereto, the "<u>Purchase Price</u>"), and the Issuer desires to issue and sell to Subscriber the Acquired Shares in consideration of the payment of the Purchase Price by or on behalf of Subscriber to the Issuer on or prior to the Subscription Closing (as defined below);

[WHEREAS, concurrently with the execution and delivery of the Business Combination Agreement, [Nabors Lux 2 S.a.r.l.], [AgCentral Energy Pty Ltd.] and the Issuer are entering into a subscription agreement (the "<u>Notes Subscription Agreement</u>"), pursuant to which, among other things, [Nabors Lux 2 S.a.r.l.] and [AgCentral Energy Pty Ltd.] have agreed to subscribe for and purchase [•] ("<u>Convertible Notes</u>") from the Issuer, in exchange for an aggregate purchase price of $10,000,000 to be funded in accordance with the Notes Subscription Agreement (the financing contemplated under the Notes Subscription Agreement hereinafter referred to as the "<u>Convertible Financing</u>");]

WHEREAS, in connection with the Business Combination, certain other institutional "accredited investors" (as such term is defined in Rule 501(a) under the Securities Act of 1933, as amended (the "<u>Securities Act</u>")), or otherwise certain other investors to whom "disclosure to investors" is not required within the meaning of Chapter 6D of the Australian Corporations Act 2001 (Cth) (the "<u>Corporations Act</u>"), have entered, or may enter, into subscription agreements with the Issuer substantially similar to this Subscription Agreement, pursuant to which such investors (the "<u>Other Subscribers</u>") have agreed, or may agree, to subscribe for and purchase, and the Issuer has agreed, or may agree, to issue and sell to such Other Subscribers, on the Closing Date, Ordinary Shares at the Share Purchase Price (the "<u>Other Subscription Agreements</u>").

NOW, THEREFORE, in consideration of the foregoing and the mutual representations, warranties and covenants, and subject to the conditions, herein contained, and intending to be legally bound hereby, the parties hereto hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Subscription</u>. Subject to the terms and conditions hereof, Subscriber hereby agrees to subscribe for and purchase, and the Issuer hereby agrees to issue and sell to Subscriber, upon the payment of the Purchase Price, the Acquired Shares (such subscription and issuance, the "<u>Subscription</u>"); provided, however, [(i)] the number of Acquired Shares shall be reduced by one share for every $10.20 paid by the Subscriber pursuant to the Convertible Financing[, (ii) the number of Acquired Shares may be reduced, in an amount to be determined by Subscriber in its sole discretion, by up to one share for every $20.40 of Issuer Cash (as defined below) above $120,000,000, to the extent the Issuer has cash and cash equivalents ("<u>Issuer Cash</u>") in an aggregate amount not less than $120,000,000, including, without duplication, (A) the cash available to NETC from the Trust Account (as defined below) (after giving effect to the redemption of any shares of Class A common stock, par value $0.0001 per share of NETC by the stockholders of NETC), (B) cash and cash equivalents held by the Issuer and the Issuer's subsidiaries as of immediately prior to the closing of the Business Combination, (C) any amounts or proceeds received pursuant to the Convertible Financing in connection with the closing of the Business Combination (for the avoidance of doubt, excluding any amounts which have been previously funded prior to the closing of the Business Combination, except to the extent such amounts are held by the Issuer and the Issuer's subsidiaries as of immediately prior to the closing of the Business Combination), (D) any amounts or proceeds received from certain additional investors entering into subscription agreements with NETC and the Issuer to subscribe for and purchase Convertible Notes (the "<u>Additional Notes Subscription Agreements</u>"), and (E) any amounts or proceeds received pursuant to the this Subscription Agreement and the Other Subscription Agreements in connection with the closing of the Business Combination, and after giving effect to the payment of any Outstanding Company Transaction Expenses (as defined in the Business Combination Agreement) and Outstanding SPAC Transaction Expenses (as defined in the Business Combination), and [(iii)] in the event that the number of Acquired Shares is reduced pursuant to clause (i) [or (ii)] above, there shall be a corresponding reduction in the Purchase Price.]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Subscription Closing</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject to the satisfaction or waiver of the conditions set forth in this <u>Section 2</u> (other than those conditions that by their nature are to be satisfied at the closing of the Subscription contemplated hereby, but without affecting the requirement that such conditions be satisfied or waived at such closing), the "<u>Subscription Closing</u>" shall occur on the date of, and immediately prior to or substantially concurrently with, and is contingent on, the consummation of the Business Combination (the "<u>Closing Date</u>"). At least three (3) business days before the anticipated Closing Date, the Issuer shall deliver written notice to the Subscriber (the "<u>Closing Notice</u>") specifying (i) the anticipated Closing Date and (ii) the wire instructions for delivery of the Purchase Price to the Issuer. No later than two (2) business days prior to the Closing Date set forth in the Closing Notice, the Subscriber shall deliver to the Issuer such information as is reasonably requested in the Closing Notice in order for the Issuer to issue the Acquired Shares to the Subscriber. The Subscriber shall deliver to the Issuer, on or prior to the business day that immediately precedes the Closing Date, to be held in escrow until the Subscription Closing, the Purchase Price in cash via wire transfer to the account specified in the Closing Notice and the application for shares in the form attached to this Subscription Agreement. Upon satisfaction (or, if applicable, waiver) of the conditions set forth in this <u>Section 2</u>, the Purchase Price shall be released from escrow against and concurrently with delivery by the Issuer to Subscriber of (i) the Acquired Shares in book entry form, free and clear of any liens or other restrictions whatsoever (other than those arising under this Subscription Agreement or applicable securities laws), in the name of Subscriber (or its nominee in accordance with its delivery instructions ("<u>Nominee</u>")) or to a custodian designated by Subscriber, as applicable, and (ii) a copy of the records of, or correspondence from, the Issuer's transfer agent reflecting Subscriber as the owner of the Acquired Shares on and as of the Closing Date. Notwithstanding the foregoing two sentences, if Subscriber informs the Issuer (1) that it is an investment company registered under the Investment Company Act of 1940, as amended, (2) that it is advised by an investment adviser subject to regulation under the Investment Advisers Act of 1940, as amended, or (3) that its internal compliance policies and procedures so require it, then, in lieu of the settlement procedures in the foregoing two sentences, the following shall apply: Subscriber shall deliver at 8:00 a.m. New York City time on the Closing Date (or as soon as practicable following receipt of evidence from the Issuer's transfer agent of the issuance to Subscriber of the Acquired Shares on and as of the Closing Date) the Purchase Price for the Acquired Shares in cash via wire transfer to the account specified by the Issuer in the Closing Notice against delivery by the Issuer to Subscriber of the Acquired Shares in book entry form, free and clear of any liens or other restrictions (other than those arising under this Subscription Agreement or applicable securities laws), in the name of Subscriber (or its nominee in accordance with its delivery instructions) and evidence from the Issuer's transfer agent of the issuance to Subscriber of the Subscribed Shares on and as of the Closing Date. In the event the Business Combination does not occur within five (5) business days of the Closing Date specified in the Closing Notice or this Subscription Agreement terminates prior to the Subscription Closing, the Issuer shall promptly (but not later than seven (7) business days thereafter) return the Purchase Price, if already paid by the Subscriber, to Subscriber by wire transfer of U.S. dollars in immediately available funds to the account specified by the Subscriber, and any book entries shall be deemed cancelled. Notwithstanding such return or termination, (i) a failure to close on the anticipated Closing Date shall not, by itself, be deemed to be a failure of any of the conditions to the Subscription Closing set forth in this <u>Section 2</u> to be satisfied or waived on or prior to the Closing Date, and (ii) unless and until this Subscription Agreement is terminated in accordance with <u>Section 7</u> herein, Subscriber shall remain obligated (A) to redeliver funds to the Issuer in escrow following the Issuer's delivery to Subscriber of a new Closing Notice and (B) to re-consummate the Subscription Closing immediately prior to or substantially concurrently with the consummation of the Business Combination.

For the purposes of this Subscription Agreement, (x) "business day" means any day other than a Saturday, Sunday or a day on which either the Federal Reserve Bank of New York is closed or it is a declared public holiday in Sydney, Australia and (y) a reference to "$" or "dollars" is to the currency of the United States of America unless denominated otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The obligation of the Issuer to consummate the transaction contemplated hereunder are subject to the satisfaction on the Closing Date, or, to the extent permitted by applicable law, the written waiver by the Issuer, of each of the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) all representations and warranties of the Subscriber contained in this Subscription Agreement shall be true and correct in all material respects (other than representations and warranties that are qualified as to materiality or Subscriber Material Adverse Effect (as defined below), which representations and warranties shall be true and correct in all respects) at and as of the Closing Date (except for representations and warranties made as of a specific date, which shall be true and correct in all material respects (other than representations and warranties that are qualified as to materiality or Subscriber Material Adverse Effect, which representations and warranties shall be true in all respects) as of such date);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) no governmental authority shall have enacted, issued, promulgated, enforced or entered any judgment, order, law, rule or regulation (whether temporary, preliminary or permanent), which is then in effect and has the effect of making consummation of the Subscription illegal or otherwise preventing or prohibiting consummation of the Subscription; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) no suspension of the offering or sale of the Acquired Shares shall have been initiated or, to the Issuer's knowledge, threatened, by the Securities and Exchange Commission (the "<u>Commission</u>") or the Australian Securities and Investments Commission ("<u>ASIC</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The obligations of the Subscriber to consummate the transactions contemplated hereunder are subject to the satisfaction on the Closing Date, or, to the extent permitted by applicable law, the written waiver by Subscriber, of each of the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) all representations and warranties of the Issuer contained in this Subscription Agreement shall be true and correct in all material respects (other than representations and warranties that are qualified as to materiality or Material Adverse Effect (as defined below), which representations and warranties shall be true and correct in all respects) at and as of the Closing Date (except for representations and warranties made as of a specific date, which shall be true and correct in all material respects (other than representations and warranties that are qualified as to materiality or Material Adverse Effect, which representations and warranties shall be true in all respects as of such date), and the closing of the Business Combination shall be scheduled to occur concurrently with or immediately following the Subscription Closing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Issuer shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by this Subscription Agreement to be performed, satisfied or complied with by them at or prior to the Subscription Closing, except where the failure of such performance, satisfaction or non-compliance would not or would not reasonably be expected to prevent, materially delay or materially impair the ability of the Issuer to consummate the Subscription Closing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the terms of the Business Combination Agreement (including the conditions thereto, including without limitation as set forth in Article VIII thereto, and the representations and covenants of NETC and the Issuer relating to the cash or financial position and outstanding indebtedness of NETC and the Issuer), as the same exist on the date hereof, shall not have been amended, modified or waived in a manner that would reasonably be expected to be materially adverse to the economic benefits Subscriber reasonably expects to receive under this Subscription Agreement, and the condition set forth in Section 8.3(f) of the Business Combination Agreement shall have been satisfied and shall not have been amended, modified or waived in any manner. For the avoidance of doubt, the parties hereto acknowledge and agree that any amendment or extension of the Outside Date (as defined in the Business Combination Agreement) shall not materially adversely affect the economic benefits that Subscriber would reasonably expect to receive under this Subscription Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) no governmental authority shall have enacted, issued, promulgated, enforced or entered any judgment, order, law, rule or regulation (whether temporary, preliminary or permanent) which is then in effect and has the effect of making consummation of the Subscription illegal or otherwise preventing or prohibiting consummation of the Subscription;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the Acquired Shares shall have been approved for listing on the New York Stock Exchange (or the exchange on which the Ordinary Shares will be listed as of the Closing Date) (such exchange, the "<u>Exchange</u>"), subject to official notice of issuance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) all conditions precedent to the closing of the Business Combination set forth in the Business Combination Agreement shall have been satisfied or waived (other than those conditions that (a) may only be satisfied at the closing of the Business Combination, but subject to the satisfaction or waiver of such conditions as of the closing of the Business Combination or (b) will be satisfied by the Subscription Closing and the closing of the transactions contemplated by the Other Subscription Agreements);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) [Third Party Investors shall have purchased Ordinary Shares and/or Convertible Notes for aggregate gross proceeds to the Issuer of at least $10,000,000. "Third Party Investors" shall mean any Other Subscribers or purchasers of Convertible Notes who are not: (i) the Issuer, (ii) AgCentral Energy Pty Ltd, (iii) Nabors Industries, Ltd., (iv) NETC, (v) Nabors Energy Transition Sponsor LLC, (vi) Green Roads Energy LLC or one of its members, (vii) an officer, director or manager of any of the Persons named in clauses (i)-(vi), or (viii) an affiliate or associate (as such terms are defined in Rule 12b-2 promulgated under the Exchange Act) of any of the Persons named in clauses (i)-(vii); and]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) no suspension of the offering or sale of the Acquired Shares shall have been initiated or, to the Issuer's knowledge, threatened, by the Commission or ASIC; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) to the extent applicable, there shall have been no amendment, waiver or modification to any Other Subscription Agreements that materially benefits any Other Subscribers unless Subscriber has been offered substantially similar benefits in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) At the Subscription Closing, the parties hereto shall execute and deliver such additional documents and take such additional actions as the parties reasonably may deem to be practical and necessary in order to consummate the Subscription as contemplated by this Subscription Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Issuer Representations and Warranties</u>. The Issuer represents and warrants that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Issuer is a corporation registered and validly existing under the Corporations Act, with corporate power and authority to own, lease and operate its properties and conduct its business as presently conducted and to enter into, deliver and perform its obligations under this Subscription Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Subscriber will acquire at the Subscription Closing (i) the full legal and beneficial ownership of the Acquired Shares free and clear of all encumbrances, subject to the registration of the Subscriber in the register of shareholders; (ii) the Acquired Shares that have been duly authorized and validly issued by the Issuer; (iii) the Acquired Shares free of competing rights, including pre-emptive rights or rights of first refusal; and (iv) the Acquired Shares that are fully paid and have no money owing in respect of them (assuming full payment therefor in accordance with the terms of this Subscription Agreement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) This Subscription Agreement and the Business Combination Agreement (collectively, the "<u>Transaction Documents</u>") have been duly authorized, executed and delivered by the Issuer. The Transaction Documents constitute the valid and legally binding obligation of the Issuer, enforceable against the Issuer in accordance with their terms, except as may be limited or otherwise affected by (i) bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other laws relating to or affecting the rights of creditors generally, and (ii) principles of equity, whether considered at law or equity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Assuming the accuracy of Subscriber's representations and warranties set forth in <u>Section 4</u> of this Subscription Agreement, the execution and delivery by the Issuer of the Transaction Documents, and the performance by the Issuer of its obligations under the Transaction Documents, including the issuance and sale of the Acquired Shares and the consummation of the other transactions contemplated herein and therein do not and will not conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, or result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of the Issuer pursuant to the terms of (i) any indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement or instrument to which the Issuer is a party or by which the Issuer is bound or to which any of the property or assets of the Issuer is subject, which would reasonably be expected to have, individually or in the aggregate, a material adverse effect on the Issuer's ability to consummate the transactions contemplated by this Subscription Agreement (in each case, a "<u>Material Adverse Effect</u>") or materially affect the validity of the Acquired Shares or the legal authority of the Issuer to comply in all material respects with the terms of this Subscription Agreement; (ii) the constitution of the Issuer as amended or varied from time to time (the "<u>Constitution</u>") or other organizational documents (as applicable) of the Issuer; or (iii) any statute or any judgment, order, rule or regulation of any court or governmental agency or body, domestic or foreign, having jurisdiction over the Issuer or any of its properties that would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect or materially affect the validity of the Acquired Shares or the legal authority of the Issuer to comply in all material respects with this Subscription Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Except for the Convertible Notes, there are no securities or instruments issued by or to which the Issuer is a party containing anti-dilution or similar provisions that will be triggered by the issuance of (i) the Acquired Shares or (ii) the Ordinary Shares to be issued pursuant to any Other Subscription Agreement, in each case, that have not been or will not be validly waived on or prior to the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Assuming the accuracy of Subscriber's representations and warranties set forth in Section 5 of this Subscription Agreement, the Issuer is not in default or violation (and no event has occurred which, with notice or the lapse of time or both, would constitute a default or violation) of any term, condition or provision of (i) the organizational documents of the Issuer, (ii) any loan or credit agreement, guarantee, note, bond, mortgage, indenture, lease or other agreement, permit, franchise or license to which the Issuer is now a party or by which the Issuer's properties or assets are bound or (iii) any statute or any judgment, order, rule or regulation of any court or governmental agency or body, domestic or foreign, having jurisdiction over the Issuer or any of its properties, except, in the case of clauses (ii) and (iii), for defaults or violations that have not had and would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Assuming the accuracy of Subscriber's representations and warranties set forth in <u>Section 4</u> of this Subscription Agreement, the Issuer is not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental authority, self-regulatory organization or other person in connection with the execution, delivery and performance by the Issuer of this Subscription Agreement (including, without limitation, the issuance of the Acquired Shares), other than (i) the filing with the Commission of the Registration Statement (as defined below), (ii) filings required by applicable U.S. state or federal or Australian securities laws, (iii) filings required by the Exchange, and (iv) consents or filings, the failure of which to obtain or file would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) As of immediately prior to the Closing Date, the share capital of the Issuer comprises 25,129,140 Ordinary Shares and 80 outstanding shares granted under the Issuer's MEP. All issued Ordinary Shares have been duly authorized and validly issued, are fully paid and are not subject to preemptive rights. Except as set forth above and pursuant to the Other Subscription Agreements, the Business Combination Agreement or the MEP Deed, there are no outstanding options, warrants or other rights to subscribe for, purchase or acquire from the Issuer any Ordinary Shares or other equity interests in the Issuer, or securities convertible into or exchangeable or exercisable for such equity interests. Other than Merger Sub, NWQHPP Pty Ltd, Vast Solar Consulting Pty Ltd, Vast Solar Pty 1 Ltd, Vast Solar Aurora Pty Ltd and Silicon Aurora Pty Ltd as of the date hereof, the Issuer has no subsidiaries and does not own, directly or indirectly, interests or investments (whether equity or debt) in any person, whether incorporated or unincorporated. There are no shareholder agreements, voting trusts or other agreements or understandings to which the Issuer is a party or by which it is bound relating to the voting of any securities of the Issuer, other than as contemplated by the Business Combination Agreement. Notwithstanding the foregoing, after the date of this Subscription Agreement and before the Subscription Closing, certain other investors may enter into subscription agreements with the Issuer substantially similar to this Subscription Agreement, pursuant to which such investors (the "<u>Future Subscribers</u>") would agree to subscribe for and purchase, and the Issuer would agree to issue and sell to such Future Subscribers, on the Closing Date, Ordinary Shares at the Share Purchase Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Issuer has not received any written communication from a governmental entity alleging that the Issuer is not in compliance with or is in default or violation of any applicable law, except where such non-compliance, default or violation would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Assuming the accuracy of Subscriber's representations and warranties set forth in <u>Section 4</u> of this Subscription Agreement, no registration under the Securities Act or "disclosure to investors" within the meaning of Chapter 6D of the Corporations Act is required for the offer and issue of the Acquired Shares by the Issuer to Subscriber in the manner contemplated by this Subscription Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Neither the Issuer nor any person acting on its behalf has engaged or will engage in any form of general solicitation or general advertising (within the meaning of Regulation D of the Securities Act) in connection with any offer or sale of the Acquired Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) The Issuer has not entered into any side letter or similar agreement with any other subscriber pursuant to Other Subscription Agreements or any other investor in connection with such investor's direct or indirect investment in the Issuer other than (i) the Business Combination Agreement, (ii) the Other Subscription Agreements, (iii) Additional Notes Subscription Agreements, (iv) agreements or forms thereof that have been publicly filed via the Commission's EDGAR system, including filings made by either NETC or the Issuer, and (v) contracts with respect to the sale, supply, marketing or distribution of goods or services by operating companies. No Other Subscription Agreement (other than any Other Subscription Agreements entered into by investment companies registered under the Investment Company Act or investors advised by an investment adviser subject to regulation under the Investment Advisers Act solely to the extent contemplated by <u>Section 2(a)</u> hereof) contains terms (economic or otherwise) more favorable in any material respect to any such other subscribers than as set forth in this Subscription Agreement, [other than (i) the Subscription Agreement, dated as of February [13], 2023, by and between the Issuer and [Nabors Lux 2 S.a.r.l.] and (ii) the Subscription Agreement, dated as of February [13], 2023, by and between the Issuer and [AgCentral Energy Pty Ltd].]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) There is no (i) suit, action, proceeding, or arbitration pending, or, to the Issuer's knowledge, threatened against the Issuer or (ii) judgment, decree, injunction, ruling or order of any governmental entity or arbitrator outstanding against the Issuer, except for such matters as have not had and would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) The Issuer has not paid, and is not obligated to pay, any brokerage, finder's or other commission or similar fee in connection with its issuance and sale of the Acquired Shares to the Subscriber.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) None of the Issuer, its subsidiaries or any of their affiliates, nor any person acting on their behalf has, directly or indirectly, made any offers or sales of any security or solicited any offers to buy any security, under circumstances that would require registration of the issuance of any of the Acquired Shares under the Securities Act, whether through integration with prior offerings pursuant to Rule 502(a) of the Securities Act or otherwise or "disclosure to investors" within the meaning of Chapter 6D of the Corporations Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) The Issuer and its affiliates will not directly or indirectly use the proceeds of the sale of the Acquired Shares, or lend, contribute or otherwise make available such proceeds to a subsidiary, joint venture partner or other person or entity (i) to fund a person or entity named on an OFAC List (as defined below), (ii) that is owned or controlled by, or acting on behalf of, a person, that is named on an OFAC List, (iii) that is organized, incorporated, established, located, resident or born in, or a citizen, national, or the government, including any political subdivision, agency, or instrumentality thereof, of, Cuba, Iran, North Korea, Syria, Russia, the Crimea region of Ukraine, or any other country or territory embargoed or subject to substantial trade restrictions by the United States, (iv) that is a Designated National as defined in the Cuban Assets Control Regulations, 31 C.F.R. Part 515 or (v) that is a non-U.S. shell bank or providing banking services indirectly to a non-U.S. shell bank.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) The Issuer is not, and immediately after receipt of payment by the Issuer for the Acquired Shares will not be, an "investment company" within the meaning of the Investment Company Act of 1940, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) Each form, report, statement, schedule, prospectus, proxy, registration statement and other document, if any, filed by the Issuer with the Commission, if any (the "<u>Issuer SEC Documents</u>"), as of their respective filing dates, complied in all material respects with the applicable requirements of the Exchange Act, Securities Act, and the applicable rules and regulations of the Commission promulgated thereunder. None of the Issuer SEC Documents (except to the extent that information contained in any Issuer SEC Document has been superseded by a later filed Issuer SEC Document) contained, when filed, any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein not misleading, in the case of any Issuer SEC Document that is a registration statement, or included, when filed, any untrue statement of a material fact or omitted to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, in the case of all other Issuer SEC Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Subscriber Representations and Warranties</u>. Subscriber represents and warrants to the Issuer in respect of itself or any Nominee (and a reference to Subscriber in this <u>Section 4</u> shall include such Nominee) that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subscriber has been duly formed or incorporated and is validly existing in good standing under the laws of its jurisdiction of incorporation or formation, with the requisite entity power and authority to enter into, deliver and perform its obligations under this Subscription Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) This Subscription Agreement has been duly authorized, executed and delivered by Subscriber. This Subscription Agreement is enforceable against Subscriber in accordance with its terms, except as may be limited or otherwise affected by (i) bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other laws relating to or affecting the rights of creditors generally, and (ii) principles of equity, whether considered at law or equity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) No consent, approval, order or authorization of, or registration, qualification, designation, declaration or filing with, any federal, state or local governmental authority is required on the part of Subscriber in connection with the consummation of the transactions contemplated by this Subscription Agreement, notwithstanding any required filings by the Subscribed pursuant to Section 13(d) of the Exchange Act or Chapter 6C of the Corporations Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The execution and delivery by Subscriber of this Subscription Agreement, and the performance by Subscriber of its obligations under this Subscription Agreement, including the purchase of the Acquired Shares and the consummation of the other transactions contemplated herein will not conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, or result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of Subscriber or any of its subsidiaries pursuant to the terms of (i) any indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement or instrument to which Subscriber or any of its subsidiaries is a party or by which Subscriber or any of its subsidiaries is bound or to which any of the property or assets of Subscriber or any of its subsidiaries is subject, which would reasonably be expected to have a material adverse effect on the business, properties, financial condition, shareholders' equity or results of operations of Subscriber and any of its subsidiaries, taken as a whole (a "<u>Subscriber Material Adverse Effect</u>"), or materially affect the legal authority of Subscriber to comply in all material respects with the terms of this Subscription Agreement; (ii) the organizational documents of Subscriber; or (iii) any statute or any judgment, order, rule or regulation of any court or governmental agency or body, domestic or foreign, having jurisdiction over Subscriber or any of its subsidiaries or any of their respective properties that would reasonably be expected to have a Subscriber Material Adverse Effect or materially affect the legal authority of Subscriber to comply in all material respects with this Subscription Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Subscriber (i) is a "qualified institutional buyer" (as defined in Rule 144A under the Securities Act) or an institutional "accredited investor" (within the meaning of Rule 501(a)(1), (2), (3) (5), (6), (7), (10), (11) or (12) under the Securities Act), in each case, satisfying the applicable requirements set forth on <u>Schedule A</u>, (ii) is acquiring the Acquired Shares only for its own account, or if Subscriber is subscribing for the Acquired Shares as a fiduciary or agent for one or more investor accounts, each owner of such account is a "qualified institutional buyer" or an institutional "accredited investor" (each as defined above) and Subscriber has full investment discretion with respect to each such account, and the full power and authority to make the acknowledgements, representations and agreements herein on behalf of each owner of each such account, and (iii) is not acquiring the Acquired Shares with a view to, or for offer or sale in connection with, any distribution thereof in violation of the Securities Act. Subscriber has completed the requested information on <u>Schedule A</u> following the signature page hereto and the information contained therein is accurate and complete. Subscriber is not an entity formed for the specific purpose of acquiring the Acquired Shares, unless Subscriber is a newly formed entity in which all of the equity owners are accredited investors, and is an "institutional account" as defined by FINRA Rule 4512(c). Accordingly, Subscriber is aware that this offering of the Acquired Shares meets the exemptions from filing under FINRA Rule 5123(b)(1)(A), (C) or (J). In addition, Subscriber is a person in respect of whom "disclosure to investors" within the meaning of Chapter 6D of the Corporations Act is not required and Subscriber is not acquiring the Acquired Shares with the purpose of selling or transferring them, or granting, issuing or transferring interests in, or options over, them.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Subscriber understands that the Acquired Shares are being offered in a transaction not involving any public offering within the meaning of the Securities Act and that the Acquired Shares have not been registered under the Securities Act, nor will "disclosure to investors" within the meaning of Chapter 6D of the Corporations Act be made by the Issuer. Subscriber understands that the Acquired Shares may not be resold, transferred, pledged or otherwise disposed of by Subscriber absent an effective registration statement under the Securities Act, except (i) to the Issuer or a subsidiary thereof, (ii) to non-U.S. persons pursuant to offers and sales that occur outside the United States within the meaning of Regulation S under the Securities Act, (iii) pursuant to Rule 144 under the Securities Act, provided that all of the applicable conditions thereof have been met or (iv) pursuant to another applicable exemption from the registration requirements of the Securities Act, and that any certificates or book-entry records representing the Acquired Shares shall contain the legend set forth in <u>Section 9(a)</u>. Subscriber acknowledges that the Acquired Shares may not be eligible for resale pursuant to Rule 144 promulgated under the Securities Act until at least one year following the filing of certain required information with the Commission after the Closing Date. Subscriber understands and agrees that the Acquired Shares will be subject to the foregoing restrictions and, as a result, Subscriber may not be able to readily resell the Acquired Shares and may be required to bear the financial risk of an investment in the Acquired Shares for an indefinite period of time. Subscriber understands that it has been advised to consult legal counsel prior to making any offer, resale, pledge or transfer of the Acquired Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Subscriber understands and agrees that Subscriber is acquiring the Acquired Shares directly from the Issuer. Subscriber further acknowledges that there have been no representations, warranties, covenants and agreements made to Subscriber the Issuer, or any of its officers or directors, expressly or by implication, other than those representations, warranties, covenants and agreements included in this Subscription Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Subscriber's acquisition and holding of the Acquired Shares will not constitute or result in a non-exempt prohibited transaction under section 406 of the Employee Retirement Income Security Act of 1974, as amended ("<u>ERISA</u>"), section 4975 of the Internal Revenue Code of 1986, as amended (the "<u>Code</u>"), or any applicable similar law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) In making its decision to subscribe for and purchase the Acquired Shares, Subscriber represents that it has relied solely upon its own independent investigation. Without limiting the generality of the foregoing, Subscriber has not relied on any statements or other information provided by the Issuer or any of its affiliates, or any of their respective officers, directors, employees or representatives, concerning NETC, the Issuer, the Business Combination, the Acquired Shares or the offer and sale of the Acquired Shares. Subscriber acknowledges and agrees that Subscriber has received and has had the opportunity to review such information and documents as Subscriber deems necessary to make an investment decision with respect to the Acquired Shares, including with respect to NETC, the Issuer and the Business Combination. Subscriber represents and agrees that Subscriber and Subscriber's professional advisor(s), if any, have had the full opportunity to ask such questions, receive such answers and obtain such information as Subscriber and such Subscriber's professional advisor(s), if any, have deemed necessary to make an investment decision with respect to the Acquired Shares. Without limiting the generality of the foregoing, Subscriber has not relied on any statements or other information provided by the Issuer concerning NETC, the Issuer, the Business Combination, the Acquired Shares or the offer and sale of the Acquired Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Subscriber became aware of this offering of the Acquired Shares solely by means of direct contact between Subscriber and NETC, the Issuer or a representative of NETC or the Issuer, and the Acquired Shares were offered to Subscriber solely by direct contact between Subscriber and NETC, the Issuer, or a representative of NETC or the Issuer. Subscriber acknowledges that the Issuer represents and warrants that the Acquired Shares (i) were not offered by any form of general solicitation or general advertising and (ii) are not being offered in a manner involving a public offering under, or in a distribution in violation of, the Securities Act, any state securities laws or any applicable laws of any other jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Subscriber acknowledges that it is aware that there are substantial risks incident to the purchase and ownership of the Acquired Shares. Subscriber is a sophisticated investor and is able to fend for itself in the transactions contemplated herein, has exercised its independent judgment in evaluating its investment in the Acquired Shares, has such knowledge and experience in financial, business and tax matters as to be capable of evaluating the merits, risks and uncertainties inherent in an investment in the Acquired Shares, and Subscriber has sought such accounting, legal, economic and tax advice as Subscriber has considered necessary to make an informed investment decision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) Alone, or together with any professional advisors, Subscriber represents and acknowledges that Subscriber has adequately analyzed and fully considered and assumed the risks of an investment in the Acquired Shares and determined that the Acquired Shares are a suitable investment for Subscriber and that Subscriber is able at this time and in the foreseeable future to bear the economic risk of a total loss of Subscriber's investment in the Issuer. Subscriber acknowledges specifically that a possibility of total loss exists.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) Subscriber understands and agrees that no federal, state, provincial or territorial agency has passed upon or endorsed the merits of the offering of the Acquired Shares or made any findings or determination as to the fairness of an investment in the Acquired Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) Subscriber is not (i) a person or entity named on the List of Specially Designated Nationals and Blocked Persons, the Executive Order 13599 List, the Foreign Sanctions Evaders List, or the Sectoral Sanctions Identification List, each of which is administered by the U.S. Treasury Department's Office of Foreign Assets Control ("<u>OFAC</u>") (collectively "<u>OFAC Lists</u>"), (ii) owned or controlled by, or acting on behalf of, a person, that is named on an OFAC List, (iii) organized, incorporated, established, located, resident or born in, or a citizen, national, or the government, including any political subdivision, agency, or instrumentality thereof, of, Cuba, Iran, North Korea, Sudan, Syria, the Crimea region of Ukraine, or any other country or territory embargoed or subject to substantial trade restrictions by the United States, (iv) a Designated National as defined in the Cuban Assets Control Regulations, 31 C.F.R. Part 515, or (v) a non-U.S. shell bank or providing banking services indirectly to a non-U.S. shell bank. Subscriber represents that if it is a financial institution subject to the Bank Secrecy Act (31 U.S.C. section 5311 et seq.), as amended by the USA PATRIOT Act of 2001 (together with its implementing regulations, the "<u>BSA/PATRIOT Act</u>"), that Subscriber maintains policies and procedures reasonably designed to comply with the BSA/PATRIOT Act. Subscriber also represents that, to the extent required, it maintains policies and procedures reasonably designed to ensure compliance with OFAC-administered sanctions programs, including screening its investors against the OFAC Lists. Subscriber further represents and warrants that, to the extent required, it maintains policies and procedures reasonably designed to ensure that the funds held by Subscriber and used to purchase the Acquired Shares were legally derived.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) If Subscriber is or is acting on behalf of (i) an employee benefit plan that is subject to Title I of ERISA, (ii) a plan, an individual retirement account or other arrangement that is subject to section 4975 of the Code, (iii) an entity whose underlying assets are considered to include "plan assets" of any such plan, account or arrangement described in clauses (i) and (ii) (each, an "<u>ERISA Plan</u>"), or (iv) an employee benefit plan that is a governmental plan (as defined in section 3(32) of ERISA), a church plan (as defined in section 3(33) of ERISA), a non-U.S. plan (as described in section 4(b)(4) of ERISA) or other plan that is not subject to the foregoing clauses (i), (ii) or (iii) but may be subject to provisions under any other federal, state, local, non-U.S. or other laws or regulations that are similar to such provisions of ERISA or the Code (collectively, "<u>Similar Laws</u>," and together with the ERISA Plans, "<u>Plans</u>"), Subscriber represents and warrants that (i) neither the Issuer nor its respective affiliates (the "<u>Transaction Parties</u>") has provided investment advice or has otherwise acted as the Plan's fiduciary, with respect to its decision to acquire and hold the Acquired Shares, and none of the Transaction Parties is or shall at any time be the Plan's fiduciary with respect to any decision to acquire and hold the Acquired Shares, and none of the Transaction Parties is or shall at any time be the Plan's fiduciary with respect to any decision in connection with Subscriber's investment in the Acquired Shares; and (ii) its purchase of the Acquired Shares will not result in a non-exempt prohibited transaction under section 406 of ERISA or section 4975 of the Code, or any applicable Similar Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) Subscriber at the Subscription Closing will have sufficient funds to pay the Purchase Price pursuant to <u>Section 2(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) [If Subscriber is located in the United Kingdom or a member state of the European Economic Area, it represents and warrants that it is a qualified investor (within the meaning of Regulation (EU) 2017/1129).]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) If the Subscriber is located in Australia, the Subscriber represents and warrants that it is an investor to whom "disclosure to investors" is not required within the meaning of Chapter 6D of the Corporations Act, including under an exempt offer category in section 708 of the Corporations Act where applicable (such as "sophisticated investors" or "professional investors" within the meaning of sections 708(8) and 708(11) respectively of the Corporations Act).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) [If Subscriber is located in the United Kingdom, Subscriber represents and warrants that it is a person of a kind described in articles 19(5) or 49(2) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (SI 2005/1529) (as amended) or is otherwise a person to whom an invitation or inducement to engage in investment activity may be communicated without contravening section 21 of the Financial Services and Markets Act 2000.]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) [If Subscriber is located in Oman, it represents and warrants that it is a sophisticated investor (as described in Article 139 of the Executive Regulations of the Capital Market Law).]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) Subscriber acknowledges that no disclosure or offering document has been prepared in connection with the offer and sale of the Acquired Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Neither Subscriber nor its Nominee has (i) gone, or proposed to go, into liquidation; (ii) passed a winding up resolution or commenced steps for winding up or dissolution; (iii) received a deregistration notice under section 601AB of the Corporations Act or any communication from ASIC that might lead to such a notice or applied for deregistration under section 601AA of the Corporations Act; (iv) presented or threatened with a petition or other process for winding up or dissolution and, so far as the Subscriber is aware, there are no circumstances justifying a petition or other process; and (v) entered into, or taken steps or proposed to enter into, any arrangement, compromise or composition with or assignment for the benefit of its creditors or class of them, including any deed of company arrangement. No receiver, receiver and manager, judicial manager, liquidator, administrator, official manager has been appointed, or is threatened or expected to be appointed, over the whole or a substantial part of the undertaking or property of the Subscriber or its Nominee, and, so far as the Subscriber is aware, there are no circumstances justifying such an appointment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) Subscriber has not entered into a binding commitment to sell or otherwise transfer the Acquired Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Additional Subscriber Agreement</u>. Subscriber hereby agrees that, from the date of this Subscription Agreement until the Closing Date, neither Subscriber nor any person or entity acting on behalf of Subscriber or pursuant to any understanding with Subscriber will engage in any Short Sales with respect to securities of NETC. For purposes of this <u>Section 5</u>, "Short Sales" shall include, without limitation, all "short sales" as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act, and all types of direct and indirect stock pledges (other than pledges in the ordinary course of business as part of prime brokerage arrangements), forward sale contracts, options, puts, calls, swaps and similar arrangements (including on a total return basis), and sales and other transactions through non-U.S. broker dealers or foreign regulated brokers. Notwithstanding the foregoing, (a) nothing herein shall prohibit other entities under common management with Subscriber that have no knowledge of this Subscription Agreement or of Subscriber's participation in the Subscription (including Subscriber's controlled affiliates and/or affiliates) from entering into any Short Sales and (b) in the case of a Subscriber that is a multi-managed investment vehicle whereby separate portfolio managers manage separate portions of such Subscriber's assets and the portfolio managers have no knowledge of the investment decisions made by the portfolio managers managing other portions of such Subscriber's assets, this <u>Section 5</u> shall only apply with respect to the portion of assets managed by the portfolio manager that made the investment decision to purchase the Acquired Shares covered by this Subscription Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Registration Rights</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Issuer agrees (i) to use commercially reasonable efforts to file within thirty (30) calendar days after the Subscription Closing (the "<u>Filing Date</u>") a registration statement on Form F-1 registering the resale of the Acquired Shares (the "<u>Registration Statement</u>") (ii) to use commercially reasonable efforts to cause the Registration Statement to be declared effective under the Securities Act as soon as practicable after the filing thereof but no later than the earlier of (A) the 60th calendar day (or 120th calendar day if the Commission notifies the Issuer that it will "review" the Registration Statement) following the Subscription Closing and (B) the 10th business day after the date the Issuer is notified (orally or in writing, whichever is earlier) by the Commission that the Registration Statement will not be "reviewed" or will not be subject to further review (such earlier date, the "<u>Effectiveness Date</u>") and, in any event, shall use best efforts to cause the Registration Statement to be declared effective under the Securities Act within one year of the date of this Agreement; *provided*, *however*, that the Issuer's obligations to include the Acquired Shares in the Registration Statement are contingent upon Subscriber furnishing in writing to the Issuer such information regarding Subscriber, the securities of the Issuer held by Subscriber and the intended method of disposition of the Acquired Shares as shall be reasonably requested by the Issuer to effect the registration of the Acquired Shares, and Subscriber shall execute such documents in connection with such registration as the Issuer may reasonably request that are customary of a selling stockholder in similar situations, including providing that the Issuer shall be entitled to postpone and suspend the effectiveness or use of the Registration Statement as permitted hereunder. The Issuer shall use commercially reasonable efforts to maintain the Registration Statement in accordance with the terms of this <u>Section 6</u> and shall use commercially reasonable efforts to prepare and file with the Commission such amendments, including post-effective amendments, and supplements as may be necessary to keep such Registration Statement continuously effective, available for use and in compliance with the provisions of the Securities Act until such time as there are no longer any Acquired Shares included on such Registration Statement. The Issuer shall use its commercially reasonable efforts to convert the Form F-1 to a Form F-3 as soon as practicable after the Issuer is eligible to use Form F-3. For purposes of clarification, any failure by the Issuer to file the Registration Statement by the Filing Date or to effect such Registration Statement by the Effectiveness Date shall not otherwise relieve the Issuer of its obligations to file or effect the Registration Statement as set forth above in this <u>Section 6</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In the case of the registration effected by the Issuer pursuant to this Subscription Agreement, the Issuer shall, upon reasonable request, inform Subscriber as to the status of such registration. At its expense the Issuer shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) except for such times as the Issuer is permitted hereunder to suspend the use of the prospectus forming part of a Registration Statement, use its commercially reasonable efforts to keep such registration continuously effective with respect to Subscriber, and to keep the applicable Registration Statement or any subsequent shelf registration statement free of any material misstatements or omissions, until the earliest of the following: (i) Subscriber ceases to hold any Acquired Shares, (ii) the date all Acquired Shares held by Subscriber may be sold without restriction under Rule 144, including without limitation, any volume and manner of sale restrictions which may be applicable to affiliates under Rule 144 and without the requirement for the Issuer to be in compliance with the current public information required under Rule 144(c)(1) (or Rule 144(i)(2), if applicable), and (iii) two (2) years from the "Effective Date" of the Registration Statement. "Effective Date" as used herein shall mean the date on which the Registration Statement is first declared effective by the Commission;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) advise Subscriber within three (3) business days:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) when a Registration Statement or any amendment thereto has been filed with the Commission and when such Registration Statement or any post-effective amendment thereto has become effective;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) of any request by the Commission for amendments or supplements to any Registration Statement or the prospectus included therein or for additional information;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) of the issuance by the Commission of any stop order suspending the effectiveness of any Registration Statement or the initiation of any proceedings for such purpose;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) of the receipt by the Issuer of any notification with respect to the suspension of the qualification of the Acquired Shares included therein for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) subject to the provisions in this Subscription Agreement, of the occurrence of any event that requires making changes in any Registration Statement or prospectus so that, as of such date, any Registration Statement does not contain an untrue statement of a material fact or does not omit to state a material fact required to be stated therein not misleading, or any prospectus does not include an untrue statement of a material fact or does not omit to state a material fact necessary to make the statements therein, in the case of a prospectus, in the light of the circumstances under which they were made, not misleading.

Notwithstanding anything to the contrary set forth herein, the Issuer shall not, when advising Subscriber of such events, provide Subscriber with any material, nonpublic information regarding the Issuer other than to the extent that providing notice to Subscriber of the occurrence of the events listed in (1) through (5) above constitutes material, nonpublic information regarding the Issuer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) use its commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of any Registration Statement as soon as reasonably practicable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) upon the occurrence of any event contemplated above, except for such times as the Issuer is permitted hereunder to suspend, and has suspended, the use of a prospectus forming part of a Registration Statement, use its commercially reasonable efforts to as soon as reasonably practicable prepare a post-effective amendment to such Registration Statement or a supplement to the related prospectus, or file any other required document so that, as thereafter delivered to purchasers of the Acquired Shares included therein, such prospectus will not include any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) use its commercially reasonable efforts to cause all Acquired Shares to be listed on each securities exchange or market, if any, on which the Ordinary Shares issued by the Issuer have been listed; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) use its commercially reasonable efforts to take all other steps necessary to effect the registration of the Acquired Shares contemplated hereby and to enable Subscriber to sell the Acquired Shares under Rule 144.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding anything to the contrary in this Subscription Agreement, the Issuer shall be entitled to delay or postpone the effectiveness of the Registration Statement, and from time to time to require Subscriber not to sell under the Registration Statement or to suspend the effectiveness thereof, if the negotiation or consummation of a transaction by the Issuer or its subsidiaries is pending or an event has occurred, which negotiation, consummation or event the Issuer's board of directors reasonably believes, upon the advice of legal counsel, would require additional disclosure by the Issuer in the Registration Statement of material information that the Issuer has a bona fide business purpose for keeping confidential and the non-disclosure of which in the Registration Statement would be expected, in the reasonable determination of the Issuer's board of directors, upon the advice of legal counsel, to cause the Registration Statement to fail to comply with applicable disclosure requirements (each such circumstance, a "<u>Suspension Event</u>"); *provided*, *however*, that the Issuer may not delay or suspend the Registration Statement on more than two occasions or for more than sixty (90) consecutive calendar days, or more than ninety (150) total calendar days, in each case during any twelve-month period. Upon receipt of any written notice from the Issuer of the happening of any Suspension Event during the period that the Registration Statement is effective or if as a result of a Suspension Event the Registration Statement contains any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, or any related prospectus includes any untrue statement of a material fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made not misleading, Subscriber agrees that (i) it will immediately discontinue offers and sales of the Acquired Shares under the Registration Statement until Subscriber receives copies of a supplemental or amended prospectus (which the Issuer agrees to promptly prepare) that corrects the misstatement(s) or omission(s) referred to above and receives notice that any post-effective amendment has become effective or unless otherwise notified by the Issuer that it may resume such offers and sales, and (ii) it will maintain the confidentiality of any information included in such written notice delivered by the Issuer unless otherwise required by law or subpoena. If so directed by the Issuer, Subscriber will deliver to the Issuer or, in Subscriber's sole discretion destroy, all copies of the prospectus covering the Acquired Shares in Subscriber's possession; *provided*, *however*, that this obligation to deliver or destroy all copies of the prospectus covering the Acquired Shares shall not apply (i) to the extent Subscriber is required to retain a copy of such prospectus (A) in order to comply with applicable legal, regulatory, self-regulatory or professional requirements or (B) in accordance with a bona fide pre-existing document retention policy or (ii) to copies stored electronically on archival servers as a result of automatic data back-up.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Subscriber may deliver written notice (including via email in accordance with <u>Section 9(o)</u>) (an "<u>Opt-Out Notice</u>") to the Issuer requesting that Subscriber not receive notices from the Issuer otherwise required by this <u>Section 6</u>; *provided*, *however*, that Subscriber may later revoke any such Opt-Out Notice in writing. Following receipt of an Opt-Out Notice from Subscriber (unless subsequently revoked), (i) the Issuer shall not deliver any such notices to Subscriber and Subscriber shall no longer be entitled to the rights associated with any such notice and (ii) each time prior to Subscriber's intended use of an effective Registration Statement, Subscriber will notify the Issuer in writing at least two (2) business days in advance of such intended use, and if a notice of a Suspension Event was previously delivered (or would have been delivered but for the provisions of this <u>Section 6(d)</u>) and the related suspension period remains in effect, the Issuer will so notify Subscriber, within one (1) business day of Subscriber's notification to the Issuer, by delivering to Subscriber a copy of such previous notice of Suspension Event, and thereafter will provide Subscriber with the related notice of the conclusion of such Suspension Event immediately upon its availability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Issuer shall, notwithstanding any termination of this Subscription Agreement, indemnify, defend and hold harmless Subscriber (to the extent a seller under the Registration Statement), its directors, officers, agents, employees and each person who controls Subscriber (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) to the fullest extent permitted by applicable law, from and against any and all out-of-pocket losses, claims, damages, liabilities, costs (including, without limitation, reasonable external attorneys' fees) and expenses (collectively, "<u>Losses</u>"), as incurred, that arise out of or are based upon (i) any untrue or alleged untrue statement of a material fact contained in the Registration Statement or in any amendment or supplement thereto, required to be stated therein or necessary to make the statements therein not misleading or (ii) any untrue or alleged untrue statement of a material fact included in any prospectus included in the Registration Statement or any form of prospectus or in any amendment or supplement thereto or in any preliminary prospectus, or arising out of or relating to any omission or alleged omission to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except to the extent that such untrue statements, alleged untrue statements, omissions or alleged omissions are based upon information regarding such Subscriber furnished in writing to the Issuer by such Subscriber expressly for use therein or Subscriber has omitted a material fact from such information or otherwise violated the Securities Act, Exchange Act or any state securities law or any rule or regulation thereunder; *provided*, *however*, that the indemnification contained in this <u>Section 6</u> shall not apply to amounts paid in settlement of any Losses if such settlement is effected without the consent of the Issuer (which consent shall not be unreasonably withheld, conditioned or delayed), nor shall the Issuer be liable for any Losses to the extent they arise out of or are based upon a violation which occurs (A) in reliance upon and in conformity with written information furnished by Subscriber, (B) in connection with any failure of such person to deliver or cause to be delivered a prospectus made available by the Issuer in a timely manner or (C) in connection with any offers or sales effected by or on behalf of Subscriber in violation of <u>Section 6(b)</u> hereof.

The Issuer shall notify Subscriber reasonably promptly of the institution, threat or assertion of any proceeding arising from or in connection with the transactions contemplated by this <u>Section 6</u> of which the Issuer receives notice in writing. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of an indemnified party and shall survive the transfer of the Acquired Shares by Subscriber.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Subscriber shall, severally and not jointly with any other selling shareholder named in the Registration Statement, indemnify and hold harmless the Issuer, its directors, officers, agents and employees and each person who controls the Issuer (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act) to the fullest extent permitted by applicable law, from and against all Losses, as incurred, arising out of or that are based upon (i) any untrue or alleged untrue statement of a material fact contained in any Registration Statement or in any amendment or supplement thereto or arising out of or relating to any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading or (ii) any untrue or alleged untrue statement of a material fact included in any prospectus included in the Registration Statement or any form of prospectus or in any amendment or supplement thereto or in any preliminary prospectus or arising out of or relating to any omission or alleged omission of a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, with respect to (i) and/or (ii), only to the extent that such untrue or alleged untrue statements or omissions or alleged omissions are based upon information regarding Subscriber furnished in writing to the Issuer by Subscriber expressly for use therein; *provided*, *however*, that the indemnification contained in this <u>Section 6(f)</u> shall not apply to amounts paid in settlement of any Losses if such settlement is effected without the consent of Subscriber (which consent shall not be unreasonably withheld, conditioned or delayed). In no event shall the liability of Subscriber be greater in amount than the dollar amount of the net proceeds received by Subscriber upon the sale of the Acquired Shares giving rise to such indemnification obligation. Subscriber shall notify the Issuer promptly of the institution, threat or assertion of any proceeding arising from or in connection with the transactions contemplated by this <u>Section 6(f)</u> of which Subscriber is aware. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of an indemnified party and shall survive the transfer of the Acquired Shares by Subscriber.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Termination</u>. This Subscription Agreement shall terminate and be void and of no further force and effect, and all rights and obligations of the parties hereunder shall terminate without any further liability on the part of any party in respect thereof, upon the earliest to occur of (a) such date and time as the Business Combination Agreement is terminated in accordance with its terms, (b) upon the mutual written agreement of each of the parties hereto to terminate this Subscription Agreement, or (c) if any of the conditions to Subscription Closing set forth in <u>Section 2</u> of this Subscription Agreement are not satisfied on or prior to the Subscription Closing and, as a result thereof, the transactions contemplated by this Subscription Agreement are not consummated at the Subscription Closing; *provided*, that nothing herein will relieve any party from liability for any willful breach hereof prior to the time of termination, and each party will be entitled to any remedies at law or in equity to recover reasonable and documented out-of-pocket losses, liabilities or damages arising from such breach.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Trust Account Waiver</u>. Subscriber acknowledges that NETC is a blank check company with the powers and privileges to effect a merger, asset acquisition, reorganization or similar business combination involving NETC and one or more businesses or assets. Subscriber further acknowledges that, as described in NETC's prospectus relating to its initial public offering dated November 16, 2021 (the "<u>Prospectus</u>"), available at www.sec.gov, substantially all of NETC's assets consist of the cash proceeds of its initial public offering and private placements of its securities, and substantially all of those proceeds have been deposited in a trust account (the "<u>Trust Account</u>") for the benefit of NETC, its public stockholders and the underwriters of its initial public offering. Except with respect to interest earned on the funds held in the Trust Account that may be released to NETC to pay its tax obligations, if any, the cash in the Trust Account may be disbursed only for the purposes set forth in the Prospectus. For and in consideration of NETC and the Issuer entering into this Subscription Agreement, the receipt and sufficiency of which are hereby acknowledged, Subscriber, on behalf of itself and its representatives, hereby irrevocably waives any and all right, title and interest, or any claim of any kind they have or may have in the future arising out of this Subscription Agreement, in or to any monies held in the Trust Account, and agrees not to seek recourse against the Trust Account as a result of, or arising out of, this Subscription Agreement; *provided*, that nothing in this <u>Section 8</u> shall be deemed to limit the Subscriber's right, title, interest or claim to the Trust Account by virtue of the Subscriber's record or beneficial ownership of securities of NETC, including but not limited to any redemption right with respect to such securities of the Issuer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. [<u>Other Subscription Agreements</u>. The Issuer shall deliver a true and complete copy of each Other Subscription Agreement, and each amendment, waiver, side letter, side agreement or similar understanding with respect thereto (collectively, "<u>Modification</u>") to the Subscriber within one business day of the execution and delivery thereof. The Issuer agrees that all Modifications shall be in writing. If the Issuer enters into an Other Subscription Agreement with an Other Subscriber (including [AgCentral Energy Pty Ltd] or its affiliates) on or after the date hereof with any terms or conditions (economic or otherwise) more favorable to such Other Subscriber in any respect than the terms and conditions of this Subscription Agreement, or any Modification modifies the terms of any Other Subscription Agreement as a result of which any terms or conditions (economic or otherwise) thereof are more favorable to such Other Subscriber in any respect than the terms and conditions of this Subscription Agreement, then the Issuer shall promptly advise the Subscriber of such fact (and the relevant terms and conditions) and, unless otherwise agreed in writing by the Issuer and the Subscriber, this Subscription Agreement, without any further action of any party hereto, shall be deemed automatically amended and modified to include such more favorable terms and conditions such that the Subscriber shall receive the benefit of such more favorable terms and conditions.]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Miscellaneous</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each book entry for the Acquired Shares shall contain a notation, and each certificate (if any) evidencing the Acquired Shares shall be stamped or otherwise imprinted with a legend, in substantially the following form: "THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION, AND MAY NOT BE TRANSFERRED IN VIOLATION OF SUCH ACT AND LAWS."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If requested by Subscriber, the Issuer shall use its commercially reasonable efforts to cause the removal of the restrictive legends from (i) any Acquired Shares being sold under the Registration Statement and (ii) any Acquired Shares eligible to be sold pursuant to Rule 144 without any restriction under Rule 144, including informational requirements, provided that the Subscriber provides to the Issuer customary representations and other documentation as reasonably requested by the Issuer, its counsel or the transfer agent, establishing that restrictive legends are no longer required. In connection therewith, if required by the Issuer's transfer agent, the Issuer will use commercially reasonable efforts to cause an opinion of counsel to be delivered to and maintained with its transfer agent, together with any other authorizations, certificates and directions required by the transfer agent that authorize and direct the transfer agent to issue such Acquired Shares without any such legend.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Subscriber acknowledges that each of NETC and the Issuer will rely on the acknowledgments, understandings, agreements, representations and warranties contained in this Subscription Agreement and would not seek Subscriber's participation in the transactions contemplated hereunder in the absence of this Subscription Agreement and the acknowledgments, understandings, agreements, representations and warranties contained herein. Prior to the Subscription Closing, Subscriber agrees to promptly notify NETC and the Issuer if any of the acknowledgments, understandings, agreements, representations and warranties set forth herein are no longer accurate in all material respects. The parties further acknowledge and agree that there are no third-party beneficiaries of the representations and warranties of the parties contained in this Subscription Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Subscriber acknowledges that it is not relying upon, and has not relied upon, any statement, representation or warranty made by any person other than the statements, representations and warranties contained in this Subscription Agreement in making its investment or decision to invest in the Issuer. Subscriber agrees that none of (i) any other subscriber pursuant to Other Subscription Agreements entered into in connection with the offering of Acquired Shares (including the controlling persons, members, officers, directors, partners, agents, or employees of any such other purchaser), or (ii) any other party to the Business Combination Agreement, including any such party's representatives, affiliates or any of its or their control persons, officers, directors or employees, that is not a party hereto, shall be liable to the Subscriber pursuant to this Subscription Agreement for any action heretofore or hereafter taken or omitted to be taken by any of them in connection with the purchase of the Acquired Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Each of NETC, the Issuer and Subscriber is entitled to rely upon this Subscription Agreement and is each irrevocably authorized to produce this Subscription Agreement or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Neither this Subscription Agreement nor any rights that may accrue to Subscriber hereunder (other than the Acquired Shares acquired hereunder, if any) may be transferred or assigned, except (x) with the written consent of the Issuer to be given in its sole discretion and (y) that Subscriber may assign its rights and obligations under this Subscription Agreement to one or more of its affiliates or equity holders (including other investment funds or accounts managed or advised by the Subscriber or investment manager who acts on behalf of Subscriber or an affiliate thereof); *provided*, that no such assignment shall relieve Subscriber of its obligations hereunder; *provided further* that such transferee or assignee agrees in writing to be bound by and subject to the terms and conditions of this Subscription Agreement, makes the representations and warranties in <u>Section 4</u> and completes <u>Schedule A</u> hereto. In the event of such a transfer or assignment, Subscriber shall update <u>Schedule B</u> to provide the information required therein. Neither this Subscription Agreement nor any rights that may accrue to the Issuer hereunder may be transferred or assigned except as set forth above. Notwithstanding anything to the contrary herein, NETC is a third party beneficiary of this Subscription Agreement with respect to (1) the representations and warranties of Subscriber in <u>Section 4</u>, (2) the Subscriber's agreements in <u>Sections 5</u> and <u>8</u> and (3) <u>Sections 9(c)</u> – <u>9(g)</u> and <u>9(j)</u> – <u>9(p)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) All the agreements, representations and warranties made by each party hereto in this Subscription Agreement shall survive the Subscription Closing. For the avoidance of doubt, if for any reason the Subscription Closing does not occur prior to or substantially concurrently with the consummation of the Business Combination, all representations, warranties, covenants and agreements of the parties hereto shall survive the consummation of the Business Combination and remain in full force and effect until or unless this Subscription Agreement is terminated in accordance herewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The Issuer may request from Subscriber such additional information as the Issuer may deem necessary in good faith to evaluate the eligibility of Subscriber to acquire the Acquired Shares, and Subscriber shall promptly provide such information as may be reasonably requested, to the extent readily available and to the extent consistent with its internal policies and procedures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) This Subscription Agreement may not be modified, waived or terminated except by an instrument in writing, signed by the party against whom enforcement of such modification, waiver, or termination is sought; *provided* that any rights (but not obligations) of a party under this Subscription Agreement may be waived, in whole or in part, by such party on its own behalf without the prior consent of any other party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) This Subscription Agreement constitutes the entire agreement, and supersedes all other prior agreements, understandings, representations and warranties, both written and oral, among the parties, with respect to the subject matter hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Except as otherwise provided herein, this Subscription Agreement shall be binding upon, and inure to the benefit of the parties hereto and their heirs, executors, administrators, successors, legal representatives, and permitted assigns, and the agreements, representations, warranties, covenants and acknowledgments contained herein shall be deemed to be made by, and be binding upon, such heirs, executors, administrators, successors, legal representatives and permitted assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) If any provision of this Subscription Agreement shall be invalid, illegal or unenforceable, the validity, legality or enforceability of the remaining provisions of this Subscription Agreement shall not in any way be affected or impaired thereby and shall continue in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) This Subscription Agreement may be executed in two (2) or more counterparts (including by electronic means), all of which shall be considered one and the same agreement and shall become effective when signed by each of the parties and delivered to the other parties, it being understood that all parties need not sign the same counterpart.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) Subscriber shall pay all of its own expenses in connection with this Subscription Agreement and the transactions contemplated herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) Any notice or communication required or permitted hereunder shall be in writing and either delivered personally, emailed or telecopied, sent by overnight mail via a reputable overnight carrier, or sent by certified or registered mail, postage prepaid, and shall be deemed to be given and received (a) when so delivered personally, (b) upon receipt of an appropriate electronic answerback or confirmation when so delivered by telecopy (to such number specified below or another number or numbers as such person may subsequently designate by notice given hereunder), (c) when sent, with no mail undeliverable or other rejection notice, if sent by email, or (d) ten (10) business days after the date of mailing to the address below or to such other address or addresses as such person may hereafter designate by notice given hereunder:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) if to Subscriber, to such address or addresses set forth on the signature page hereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) if to the Issuer, to:

Vast Solar Pty Ltd

226-230 Liverpool Street

Darlinghurst NSW 2010, Australia<br> Attention: Alec Waugh, General Counsel<br> Email: [\*\*\*]

with a required copy to (which copy shall not constitute notice):

White & Case LLP

Governor Phillip Tower, 1 Farrer Place

Sydney NSW 2000, Australia<br> Attention: Joel Rennie, Elliott Smith, Matthew Barnett and Nirangjan Nagarajah<br> Email: joel.rennie@whitecase.com; elliott.smith@whitecase.com; Matthew.Barnett@whitecase.com; nirangjan.nagarajah@whitecase.com

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) This Subscription Agreement, and any claim or cause of action hereunder based upon, arising out of or related to this Subscription Agreement (whether based on law, in equity, in contract, in tort or any other theory) or the negotiation, execution, performance or enforcement of this Subscription Agreement, shall be governed by and construed in accordance with the laws of the State of Delaware.

THE PARTIES HERETO AGREE THAT ALL DISPUTES, LEGAL ACTIONS, SUITS AND PROCEEDINGS ARISING OUT OF OR RELATING TO THIS SUBSCRIPTION AGREEMENT MUST BE BROUGHT EXCLUSIVELY IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE AND ANY STATE APPELLATE COURT THEREFROM WITHIN THE STATE OF DELAWARE (OR, IF THE COURT OF CHANCERY OF THE STATE OF DELAWARE DECLINES TO ACCEPT JURISDICTION OVER A PARTICULAR MATTER, ANY FEDERAL COURT WITHIN THE STATE OF DELAWARE OR, IN THE EVENT EACH FEDERAL COURT WITHIN THE STATE OF DELAWARE DECLINES TO ACCEPT JURISDICTION OVER A PARTICULAR MATTER, ANY STATE COURT WITHIN THE STATE OF DELAWARE) (COLLECTIVELY THE "<u>DESIGNATED COURTS</u>"). EACH PARTY HERETO HEREBY CONSENTS AND SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE DESIGNATED COURTS. NO LEGAL ACTION, SUIT OR PROCEEDING WITH RESPECT TO THIS SUBSCRIPTION AGREEMENT MAY BE BROUGHT IN ANY OTHER FORUM. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ALL CLAIMS OF IMMUNITY FROM JURISDICTION AND ANY OBJECTION WHICH SUCH PARTY MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR PROCEEDING IN ANY DESIGNATED COURT, INCLUDING ANY RIGHT TO OBJECT ON THE BASIS THAT ANY DISPUTE, ACTION, SUIT OR PROCEEDING BROUGHT IN THE DESIGNATED COURTS HAS BEEN BROUGHT IN AN IMPROPER OR INCONVENIENT FORUM OR VENUE. EACH OF THE PARTIES HERETO ALSO AGREES THAT DELIVERY OF ANY PROCESS, SUMMONS, NOTICE OR DOCUMENT TO A PARTY HEREOF IN COMPLIANCE WITH <u>SECTION 9(o)</u> OF THIS SUBSCRIPTION AGREEMENT SHALL BE EFFECTIVE SERVICE OF PROCESS FOR ANY ACTION, SUIT OR PROCEEDING IN A DESIGNATED COURT WITH RESPECT TO ANY MATTERS TO WHICH THE PARTIES HERETO HAVE SUBMITTED TO JURISDICTION AS SET FORTH ABOVE.

EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS SUBSCRIPTION AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER; (II) SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THE FOREGOING WAIVER; (III) SUCH PARTY MAKES THE FOREGOING WAIVER VOLUNTARILY AND (IV) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS SUBSCRIPTION AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVER AND CERTIFICATIONS IN THIS <u>SECTION 9(p)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) Notwithstanding anything in this Subscription Agreement to the contrary, the Issuer shall not, and shall cause their representatives, to not, publicly disclose the name of Subscriber or any of its affiliates, or include the name of Subscriber or any of its affiliates in any press release or marketing materials, or for any similar or related purpose, or in any filing with the Commission or any regulatory agency or trading market, without the prior written consent of Subscriber, except (i) as required by the federal securities law in connection with the Registration Statement, (ii) the filing of a form of this Subscription Agreement with the Commission and in the related Current Report on Form 8-K or Form 6-K, (iii) in a press release or marketing materials of the Issuer in connection with the Business Combination to the extent such disclosure is substantially equivalent to the information that has previously been made public without breach of the obligation under this <u>Section 9(q)</u>, and (iv) at the request of the Staff of the Commission or regulatory agency or under the regulations of the Exchange, in which case the Issuer shall provide Subscriber with prior written notice of such disclosure permitted under this subclause (iv). Notwithstanding any of the foregoing, any Subscriber may elect to permit the Issuer (and their respective representatives) to publicly disclose the name of such Subscriber and any of its affiliates, or include the name of such Subscriber and any of its affiliates in any press release or marketing materials, or for any similar or related purpose, or in any filing with the Commission or any regulatory agency or trading market, without the prior written consent of Subscriber, by checking the box next to their name on the signature pages to this Subscription Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) If the Issuer ceases to be a foreign private issuer (as defined in Rule 405 of the Securities Act) eligible to use a registration statement on Form F-1 or Form F-3, as the case may be, then all references in this Subscription Agreement to any such form shall be deemed to be references to Form S-1 or Form S-3, as applicable, or such similar or successor form as may be appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) The parties hereto agree that irreparable damage would occur if any provision of this Subscription Agreement were not performed in accordance with the terms hereof, and accordingly, that the parties hereto shall be entitled to seek injunctions to prevent breaches of this Subscription Agreement or to enforce specifically the performance of the terms and provisions of this Subscription Agreement in an appropriate court of competent jurisdiction as set forth in <u>Section 9(p)</u>, in addition to any other remedy to which any party is entitled at law or in equity.

[*Signature pages follow.*]

**IN WITNESS WHEREOF**, each of the Issuer and Subscriber has executed or caused this Subscription Agreement to be executed by its duly authorized representative as of the date set forth below.

**Vast Solar Pty Ltd in accordance with section 127 of the *Corporations Act 2001* (Cth)** by

*sign here* ►   *sign here* ►   <br> Company Secretary/Director Director <br> *print name*   *print name*  

Date: [ ], 2023

*Signature Page to*

*Subscription Agreement*

---

| | |
|:---|:---|
| SUBSCRIBER: |  |
| Signature of Subscriber | Signature of Joint Subscriber, if applicable: |
| By: | By: |
| Name: | Name: |
| Title: | Title: |
| Date: [ ], 2023 |  |
| ◻ Subscriber consents to the disclosure of its name in accordance with <u>Section 9(q)</u> | ¨ Joint Subscriber consents to the disclosure of its name in accordance with <u>Section 9(q)</u> |
| Name of Subscriber: | Name of Joint Subscriber, if applicable: |
| (Please print. Please indicate name and capacity of person signing above) | (Please print. Please indicate name and capacity of person signing above) |
| Name in which securities are to be registered (if different): |  |
| Email Address: |  |
| If there are joint investors, please check one:<br> ¨ Joint Tenants with Rights of Survivorship<br> ◻ Tenants-in-Common<br> ◻ Community Property |  |
| Subscriber's EIN:___________________ | Joint Subscriber's EIN:_______________ |
| Business Address-Street: | Mailing Address-Street (if different) |
| City, State, Zip: | City, State, Zip: |
| Attn: | Attn: |
| Telephone No.: | Telephone No.: |
| Facsimile No.: | Facsimile No.: |

---

*Signature Page to*

*Subscription Agreement*

**<u>Application for Acquired Shares</u>**

To: The Directors <br> Vast Solar Pty Ltd ACN 136 258 574 ("<u>Issuer</u>") <br> [●]

[*Insert name of Subscriber*] ("<u>Applicant</u>") hereby:

1. applies to have issued to it [●] fully paid Class A ordinary shares in the capital of the Issuer (" <u>Acquired Shares</u> ") in accordance with the Subscription Agreement between Applicant, Nabors Energy Transition Corp., a Delaware corporation and Issuer (" <u>Subscription Agreement</u> ");

2. agrees to pay the purchase price in the sum of $[●] in accordance with the Subscription Agreement (" <u>Aggregate Purchase Price</u> ");

3. agrees to become a shareholder of the Issuer;

4. authorizes the directors of the Issuer to enter the Applicant's name on the register of shareholders
in respect of the Acquired Shares; and

5. agrees to hold all shares issued to it on and subject to the provisions of the constitution of the Issuer
from time to time and to be bound by and observe such provisions.

Applicant agrees to pay the Aggregate Purchase Price by wire transfer of United States dollars in immediately available funds to the account specified by the Issuer in the Closing Notice.

Signature of Applicant:

[●]

By:   <br> Name: <br> Title:

Number of Acquired Shares subscribed for and Aggregate Purchase Price as of [●], 2023, accepted and agreed to as of this [●] day of [●], 2023, by:

VAST SOLAR PTY LTD

By:   <br> Name: <br> Title:

**Schedule A<br> ELIGIBILITY REPRESENTATIONS OF SUBSCRIBER**

***This Schedule must be completed by Subscriber and forms a part of the Subscription Agreement to which it is attached. Capitalized terms used and not otherwise defined in this Schedule have the meanings given to them in the Subscription Agreement. Subscriber must check the applicable box in either Part A or Part B below and in addition, if Subscriber is an Australian Investor, check the applicable box in Part C below.***

A. QUALIFIED INSTITUTIONAL BUYER
STATUS

(Please check the applicable subparagraphs):

¨ Subscriber is a "qualified institutional buyer" (as defined in Rule 144A under the Securities Act (a "<u>QIB</u>")).

¨ Subscriber is subscribing for the Acquired Shares as a fiduciary or agent for one or more investor accounts, and each owner of such accounts is a QIB.

\*\*\* OR \*\*\*

B. INSTITUTIONAL ACCREDITED INVESTOR
STATUS

(Please check the applicable subparagraphs):

Subscriber is an institutional "accredited investor" (within the meaning of Rule 501(a) under the Securities Act) and has checked below the box(es) for the applicable provision under which Subscriber qualifies as such:

---

| | |
|:---|:---|
| ¨ | Subscriber is an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, a corporation, Massachusetts or similar business trust, partnership, or limited liability company that was not formed for the specific purpose of acquiring the securities of the Issuer being offered in this offering, with total assets in excess of $5,000,000. |

---

¨ Subscriber is a "private business development company" as defined in Section 202(a)(22) of the Investment Advisers Act of 1940.

◻ Subscriber is a "bank" as defined in Section 3(a)(2) of the Securities Act.

◻ Subscriber is a "savings and loan association" or other institution as defined in Section 3(a)(5)(A) of the Securities Act, whether acting in its individual or fiduciary capacity.

◻ Subscriber is a broker or dealer registered pursuant to Section 15 of the Exchange Act.

◻ Subscriber is an investment adviser registered pursuant to Section 203 of the Investment Advisers Act of 1940 or registered pursuant to the laws of a state.

◻ Subscriber is an investment adviser registered pursuant to Section 203 of the Investment Advisers Act of 1940 or registered pursuant to the laws of a state.

Schedule A-1

◻ Subscriber is an "insurance company" as defined in Section 2(a)(13) of the Securities Act.

◻ Subscriber is an investment company registered under the Investment Company Act of 1940.

◻ Subscriber is a "business development company" as defined in Section 2(a)(48) of the Investment Company Act of 1940.

◻ Subscriber is a "Small Business Investment Company" licensed by the U.S. Small Business Administration under either Section 301(c) or (d) of the Small Business Investment Act of 1958.

◻ Subscriber is a "Rural Business Investment Company" as defined in Section 384A of the Consolidated Farm and Rural Development Act.

---

| | |
|:---|:---|
| ◻ | Subscriber is a plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political subdivisions, for the benefit of its employees, and such plan has total assets in excess of $5,000,000. |

---

◻ Subscriber is an employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974 if the investment decision is made by a plan fiduciary, as defined in Section 3(21) of such act, which is one of the following.

---

| | |
|:---|:---|
| ¨ | A bank; |

---

◻ A savings and loan association;

◻ A insurance company; or

◻ A registered investment adviser.

---

| | |
|:---|:---|
| ◻ | Subscriber is an employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974 with total assets in excess of $5,000,000. |

---

◻ Subscriber is an employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974 that is a self-directed plan with investment decisions made solely by persons that are accredited investors.

---

| | |
|:---|:---|
| ◻ | Subscriber is a trust with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the securities offered by the Issuer in this offering, whose purchase is directed by a sophisticated person as described in Rule 506(b)(2)(ii) under the Securities Act. |

---

◻ Subscriber is an entity in which all of the equity owners are accredited investors.

Schedule A-2

◻ Subscriber is a natural person holding in good standing one or more professional certifications, designations or credentials from an accredited educational institution that the Commission has designated as qualifying an individual for accredited investor status.

---

| | |
|:---|:---|
| ◻ | Subscriber is a natural person who is a "knowledgeable employee," as defined in Rule 3c-5(a)(4) under the Investment Company Act of 1940, of the Issuer of the securities being offered or sold where the Issuer would be an investment company, as defined in section 3 of such act, but for the exclusion provided by either section 3(c)(1) or section 3(c)(7) of such act. |

---

---

| | |
|:---|:---|
| ◻ | Subscriber is a "family office," as defined in rule 202(a)(11)(G)-1 under the Investment Advisers Act of 1940 that was not formed for the specific purpose of acquiring the securities of the Issuer being offered in this offering, with total assets in excess of $5,000,000 and whose prospective investment is directed by a person who has such knowledge and experience in financial and business matters that such family office is capable of evaluating the merits and risks of the prospective investment. |

---

---

| | |
|:---|:---|
| ◻ | Subscriber is a "family client," as defined in rule 202(a)(11)(G)-1 under the Investment Advisers Act of 1940 (17 CFR 275.202(a)(11)(G)-1), of a family office meeting the requirements in paragraph (a)(12) of Rule 501(a) and whose prospective investment in the Issuer is directed by such family office pursuant to paragraph (a)(12)(iii) of Rule 501(a). |

---

---

| | |
|:---|:---|
| ◻ | Subscriber is an entity, including but not limited to Indian tribes, governmental bodies, funds, and entities organized under the laws of foreign countries, that own "Investments," in excess of $5,000,000 and was not formed for the specific purpose of acquiring the securities offered and is not of the type listed in one of the above checkboxes in this section. For the purposes of this response, "Investments" has the meaning in Rule 2a-51 under the Investment Company Act of 1940, as amended. |

---

◻ Subscriber is not a natural person.

\*\*\* IF APPLICABLE \*\*\*

C. AUSTRALIAN INSTITUTIONAL &
SOPHISTICATED INVESTOR STATUS

(Please check the applicable subparagraphs):

Subscriber is an investor to whom "disclosure to investors" is not required within the meaning of Chapter 6D of the Corporations Act, and has checked below the box(es) for the applicable provision under which Subscriber qualifies as such:

◻ Subscriber is a "sophisticated investor" within the meaning of section 708(8) of the Corporations Act.

Schedule A-3

◻ Subscriber is a financial services licensee whose Australian financial services licence covers the provision of financial services that are not limited to claims handling and settling services.

---

| | |
|:---|:---|
| ◻ | Subscriber is a body regulated by APRA, other than a trustee of any of the following (within the meaning of the Superannuation Industry (Supervision) Act 1993): (i) a superannuation fund; (ii) an approved deposit fund; (iii) a pooled superannuation trust; or (iv) a public sector superannuation scheme. |

---

◻ Subscriber is a registered entity within the meaning of the Financial Sector (Collection of Data) Act 2001.

---

| | |
|:---|:---|
| ◻ | Subscriber is a trustee of any of the following within the meaning of the Superannuation Industry (Supervision) Act 1993, provided that the fund, trust or scheme has net assets of at least A$10 million: (i) a superannuation fund; (ii) an approved deposit fund; (iii) a pooled superannuation trust; or (iv) a public sector superannuation scheme. |

---

◻ Subscriber is a listed entity, or a related body corporate of a listed entity.

◻ Subscriber is an exempt public authority.

---

| | |
|:---|:---|
| ◻ | Subscriber is a body corporate, or an unincorporated body, that: (i) carries on a business of investment in financial products, interests in land or other investments; and (ii) for those purposes, invests funds received (directly or indirectly) following an offer or invitation to the public, within the meaning of section 82 of the Corporations Act, the terms of which provided for the funds subscribed to be invested for those purposes. |

---

◻ Subscriber is a foreign entity that, if established or incorporated in Australia, would be covered by one of the preceding paragraphs.

---

| | |
|:---|:---|
| ◻ | Subscriber is a person who has or controls gross assets of at least A$10 million (including any assets held by an associate or under a trust that the person manages). |

---

\*\*\* AND \*\*\*

D. AFFILIATE STATUS

(Please check the applicable box)

SUBSCRIBER:

---

| | |
|:---|:---|
| ◻ | is: |

---

---

| | |
|:---|:---|
| ◻ | is not: |

---

an "affiliate" (as defined in Rule 144 under the Securities Act) of the Issuer or acting on behalf of an affiliate of the Issuer.

Schedule A-4

***This page should be completed by Subscriber<br> and constitutes a part of the Subscription Agreement.***

Schedule A-5

**Schedule B<br> SCHEDULE OF TRANSFERS**

Subscriber's Subscription was in the amount of Ordinary Shares. The following transfers of a portion of the Subscription have been made:

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Date of Transfer or<br> Reduction** | **Transferee**  | &nbsp;&nbsp;**Number of Transferee<br> Acquired Shares <br> Transferred or<br> Reduced** | &nbsp;&nbsp;**Subscriber Revised <br> Subscription Amount** |

---

<u>Schedule B</u> as of , 20 , accepted and agreed to as of this day of , 20 by:

**Vast Solar Pty Ltd**

By: <br> Name: <br> Title:

Name of Subscriber:

Signature of Subscriber:

By: <br> Name: <br> Title:

Schedule B-1

## Exhibit 99.5

**Exhibit 99.5**

![](tm236588d5_ex99-5img001.jpg)

------

**Convertible Note Subscription Agreement**

Vast Solar Pty Ltd (ACN 136 258 574)

[ ]

![](tm236588d5_ex99-5img002.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **Contents** | **Contents** | **Contents** | **Page** |
| &nbsp;&nbsp;&nbsp;Background | &nbsp;&nbsp;&nbsp;Background | &nbsp;&nbsp;&nbsp;Background | 1 |
| &nbsp;&nbsp;&nbsp;1 | Defined terms and interpretation | Defined terms and interpretation | 1 |
|  | 1.1 | Definitions in the Dictionary | 1 |
|  | 1.2 | Interpretation | 1 |
| &nbsp;&nbsp;&nbsp;2 | Company's obligations | Company's obligations | 1 |
| &nbsp;&nbsp;&nbsp;3 | Tranche One subscription | Tranche One subscription | 2 |
|  | 3.1 | Subscription for Tranche One Notes | 2 |
|  | 3.2 | Conditions precedent | 2 |
|  | 3.3 | Tranche One Completion Date | 2 |
|  | 3.4 | Noteholder's obligations at Tranche One Completion | 2 |
|  | 3.5 | Company's obligations at Tranche One Completion | 2 |
|  | 3.6 | Interdependence of Tranche One Completion obligations | 3 |
|  | 3.7 | Agreement to serve as application | 3 |
| &nbsp;&nbsp;&nbsp;4 | Tranche Two subscription | Tranche Two subscription | 3 |
|  | 4.1 | Subscription for Tranche Two Notes | 3 |
|  | 4.2 | Conditions precedent | 3 |
|  | 4.3 | Tranche Two Completion Date | 4 |
|  | 4.4 | Noteholder's obligations at Tranche Two Completion | 4 |
|  | 4.5 | Company's obligations at Tranche Two Completion | 4 |
|  | 4.6 | Agreement to serve as application | 4 |
| &nbsp;&nbsp;&nbsp;5 | Exit Event | Exit Event | 4 |
| &nbsp;&nbsp;&nbsp;6 | Warranties | Warranties | 5 |
|  | 6.1 | Company warranties | 5 |
|  | 6.2 | Relevant Noteholder warranties | 5 |
| &nbsp;&nbsp;&nbsp;7 | GST | GST | 5 |
| &nbsp;&nbsp;&nbsp;8 | General | General | 5 |
|  | 8.1 | Notices | 5 |
|  | 8.2 | Confidentiality | 6 |

---

---

| | | |
|:---|:---|:---|
| 8.3 | Jurisdiction | 7 |
| 8.4 | Arbitration | 7 |
| 8.5 | Invalidity | 7 |
| 8.6 | Variation | 7 |
| 8.7 | Cumulative rights | 7 |
| 8.8 | Non-merger | 7 |
| 8.9 | Payments | 7 |
| 8.10 | Counterparts | 7 |
| 8.11 | Further assurances | 8 |
| &nbsp;&nbsp;&nbsp;Schedule 1— Dictionary | &nbsp;&nbsp;&nbsp;Schedule 1— Dictionary | 9 |
| &nbsp;&nbsp;&nbsp;Schedule 2 Form of Draw Down Notice | &nbsp;&nbsp;&nbsp;Schedule 2 Form of Draw Down Notice | 12 |
| &nbsp;&nbsp;&nbsp;Execution page | &nbsp;&nbsp;&nbsp;Execution page | 13 |

---

**Date:**

**Parties**

---

| | |
|:---|:---|
| 1 | **Vast Solar Pty Ltd (ACN 136 258 574)** of 226-230 Liverpool Street, Darlinghurst NSW 2010, Australia (**Company**) |

---

---

| | |
|:---|:---|
| 2 | [ ] (**Noteholder**) |

---

**Background**

A The Company proposes to issue the Notes in accordance with the Note Terms and the Convertible Note Deed Poll.

B [The Noteholder has agreed to subscribe for its Tranche One Notes.]

C Subject to certain conditions, the Company may issue the Noteholder with a Draw Down Notice requiring the Noteholder to subscribe for [additional] Notes.

D By subscribing for Notes, the Noteholder agrees to be bound by the Note Terms.

**The parties agree**

------

---

| | |
|:---|:---|
| **1** | **Defined terms and interpretation** |

---

**1.1** **Definitions in the Dictionary** 

A term or expression starting with a capital letter:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) which is defined in the Dictionary
 in Schedule 1 (**Dictionary**), has the meaning given to it in the Dictionary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) which is defined in the Corporations
 Act, but is not defined in the Dictionary, has the meaning given to it in the Corporations
 Act; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) which is defined in the GST Law, but
 is not defined in the Dictionary or the Corporations Act, has the meaning given to it in
 the GST Law.

**1.2** **Interpretation** 

The interpretation clause in Schedule 1 (**Dictionary**) sets out rules of interpretation for this agreement.

------

---

| | |
|:---|:---|
| **2** | **Company's obligations** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject to paragraph (c), within 5
 Business Days of the beginning of each calendar month, the Company must provide the Noteholder
 with a monthly forecast prepared by the Company's management team (and approved by
 the directors of the Company) which sets out the expected cash balance of the Company as
 at the end of that calendar month (**Cash Flow Forecast**).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If the Cash Flow Forecast indicates
 that the Company's month-end cash balance will be less than US$750,000, the Company
 may issue a Draw Down Notice.

---

| | |
|:---|:---|
| Gilbert + Tobin | page \| **1** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The obligation of the Company to provide
 the Noteholder[s] with the monthly Cash Flow Forecast will end on the earlier of the Tranche
 Two Completion Date and an Exit Event.

------

---

| | |
|:---|:---|
| **3** | **Tranche One subscription** |

---

**3.1** **Subscription for Tranche One Notes** 

Subject to the terms and conditions of this agreement[, if the Company issues the Noteholder with a Drawn Down Notice], the Noteholder must subscribe for the Tranche One Notes and the Company must issue the Tranche One Notes to the Noteholder:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) for the Tranche One Subscription Amount;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) on the Tranche One Completion Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) free from any Security Interest; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) on and subject to the Note Terms.

**3.2** **Conditions precedent** 

Clause 3.1 and clause 3.5 are not binding until:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the parties have executed the Investor
 Deed and it has not been terminated, rescinded or amended without the consent of the Noteholder;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) [the Company has issued the Noteholder
 with a Drawn Down Notice for Tranche One Notes; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Nabors Lux 2 S.a.r.l. has subscribed
 for 2,500,000 Notes as a face value of US $1 per Note; and]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Noteholder has paid to the Company
 the Tranche One Subscription Amount in accordance with clause 3.4.

**3.3** **Tranche One Completion Date** 

Subject to clause 3.2, Tranche One Completion must take place at 11:00am (Sydney time) at the offices of the Company on the date [that is 10 Business Days after the Draw Down Notice is delivered to the Noteholder] [of this agreement], or any other time and place agreed between the Company and the Noteholder.

**3.4** **Noteholder's obligations at Tranche One Completion** 

At Tranche One Completion, the Noteholder must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) subscribe for and accept the issue
 of the Tranche One Notes; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) pay to the Company (or as it directs)
 the Tranche One Subscription Amount in Immediately Available Funds.

**3.5** **Company's obligations at Tranche One Completion** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) At or before Tranche One Completion,
 the Company must ensure that the directors of the Company hold a meeting at which the directors
 resolve to allot and issue the Tranche One Notes to the Noteholder in consideration for the
 Tranche One Subscription Amount.

---

| | |
|:---|:---|
| Gilbert + Tobin | page \| **2** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) At Tranche One Completion, the Company
 must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) issue the Tranche One Notes to the Noteholder;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) record the Noteholder as the holder
 of the Tranche One Notes in the Register (as defined in the Convertible Note Deed Poll).

**3.6** **Interdependence of Tranche One Completion obligations** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The obligations of the Company and
 the Noteholder under clauses 3.4 and 3.5 are interdependent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Unless otherwise stated, all actions
 required to be performed by a party at Tranche One Completion are taken to have occurred
 simultaneously on the Tranche One Completion Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Tranche One Completion will not occur
 unless all of the obligations of the Company and the Noteholder under clauses 3.4 and 3.5
 are complied with and are fully effective.

**3.7** **Agreement to serve as application** 

This agreement serves as an application by the Noteholder for the issue of its Tranche One Notes on the Tranche One Completion Date on the terms of this agreement and the Note Terms and accordingly it will not be necessary for the Noteholder to provide a separate (additional) application on or prior to the Tranche One Completion Date.

------

---

| | |
|:---|:---|
| **4** | **Tranche Two subscription** |

---

**4.1** **Subscription for Tranche Two Notes** 

Subject to the terms and conditions of this agreement, if the Company issues the Noteholder with a Draw Down Notice, the Noteholder must subscribe for the Tranche Two Notes and the Company must issue the Tranche Two Notes to the Noteholder:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) for the Tranche Two Subscription Amount;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) on the Tranche Two Completion Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) free from any Security Interest; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) on and subject to the Note Terms.

**4.2** **Conditions precedent** 

Clause 4.1 and 4.5 are not binding until:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the parties have executed the Investor
 Deed and it has not been terminated, rescinded or amended without the consent of the Noteholder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Company has executed the Convertible
 Note Deed Poll, and a certified copy is delivered to the Noteholder, and it has not been
 terminated, rescinded or amended without the consent of the Noteholder;

---

| | |
|:---|:---|
| Gilbert + Tobin | page \| **3** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) [Noteholder] has subscribed for, in
 aggregate, [ ] Notes at a face value of US$1 per Note, and the full amount of such [Notes]
 (including [any] capitalized interest) [Notes] remains outstanding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Company has issued the Noteholder
 with a Draw Down Notice [for Tranche Two Notes]; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the Noteholder has paid to the Company
 the Tranche Two Subscription Amount in accordance with clause 4.4.

**4.3** **Tranche Two Completion Date** 

Subject to clause 4.2, Tranche Two Completion must take place at 11:00am (Sydney time) at the offices of the Company on the date that is 10 Business Days after the Draw Down Notice is delivered to the Noteholder, or any other time and place agreed between the Company and the Noteholder.

**4.4** **Noteholder's obligations at Tranche Two Completion** 

At Tranche Two Completion, the Noteholder must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) subscribe for and accept the issue
 of the Tranche Two Notes; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) pay to the Company (or as it directs)
 the Tranche Two Subscription Amount in Immediately Available Funds.

**4.5** **Company's obligations at Tranche Two Completion** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) At or before Tranche Two Completion,
 the Company must ensure that the directors of the Company hold a meeting at which the directors
 resolve to allot and issue the Tranche Two Notes to the Noteholder in consideration for the
 Tranche Two Subscription Amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) At Tranche Two Completion, the Company
 must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) issue the Tranche Two Notes to the Noteholder;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) record the Noteholder as the holder
 of the Tranche Two Notes in the Register (as defined in the Convertible Note Deed Poll).

**4.6** **Agreement to serve as application** 

This agreement serves as an application by the Noteholder for the issue of its Tranche Two Notes on the Tranche Two Completion Date on the terms of this agreement and the Note Terms and accordingly it will not be necessary for the Noteholder to provide a separate (additional) application on or prior to the Tranche Two Completion Date.

------

---

| | |
|:---|:---|
| **5** | **Exit Event** |

---

If an Exit Event will occur at any time prior to the subscription for and issue of the Tranche Two Notes, then notwithstanding anything else in this agreement, the Noteholder must subscribe for and pay the Tranche [One Subscription Amount and/or the Tranche] [Two Subscription Amount] [(as applicable)], and the Company must issue the [Tranche One] [Tranche Two Notes] to the Noteholder immediately prior to completion of the Exit Event:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) free from any Security Interest; and

---

| | |
|:---|:---|
| Gilbert + Tobin | page \| **4** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) on and subject to the Note Terms.

------

---

| | |
|:---|:---|
| **6** | **Warranties** |

---

**6.1** **Company warranties** 

The Company gives the representations and warranties in clause 19.1 of the Note Terms.

**6.2** **Relevant Noteholder warranties** 

The Noteholder gives the representations and warranties in clause 19.2 of the Note Terms.

------

---

| | |
|:---|:---|
| **7** | **GST** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If GST is or becomes payable on a Supply
 made under or in connection with this agreement, an additional amount (**Additional Amount**)
 is payable by the party providing the Consideration for the Supply (**Recipient**) equal
 to the amount of GST payable on that Supply as calculated by the party making the Supply
 (**Supplier**) in accordance with the GST Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Additional Amount payable under
 clause 7(a) is payable at the same time and in the same manner as the Consideration
 for the Supply but is only payable on receipt of a valid Tax Invoice.

------

---

| | |
|:---|:---|
| **8** | **General** |

---

**8.1** **Notices** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Any notice or other communication given
 under this agreement including, but not limited to, a request, demand, consent or approval,
 to or by the Company or a Noteholder:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) must be in legible writing and in English;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) must be addressed to the addressee
 at the address or email address set out below or to any other address or email address a
 party notifies the other under this clause:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) if
 to the Company:

---

| | |
|:---|:---|
| Address: | 226-230 Liverpool Street, |
|  | Darlinghurst NSW 2010 |
|  | Australia |
| Attention: | Alec Waugh |
| Email: | [\*\*\*] |

---

with a copy (for information purposes only) to David Josselsohn, Partner, Gilbert + Tobin, at <u>djosselsohn@gtlaw.com.au</u>; and

---

| | |
|:---|:---|
| Gilbert + Tobin | page \| **5** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) if
 to [a] [the] Noteholder:

---

| |
|:---|
| Address: |
| Attention: |
| Email: |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) must be signed by an officer of a
 sender which is a body corporate; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) must be either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) delivered
 by hand or sent by pre-paid ordinary mail (by airmail if sent to or from a place outside
 Australia) to the addressee's address; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) sent
 by email to the addressee's email address; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) is deemed to be received by the addressee
 in accordance with clause 8.1(b).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Without limiting any other means by
 which a party may be able to prove that a notice has been received by another party, a notice
 is deemed to be received:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) if sent by hand, when delivered to the
 addressee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) if by post:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) mailed
 within Australia, five Business Days after and including the date of postage/on delivery
 to the addressee; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) mailed
 from Australia to a location outside of Australia, 10 Business Days after and including the
 date of postage/one delivery to the addressee; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) if sent by email:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) when
 the sender receives an automated message confirming delivery; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) 5
 hours after the time sent (as recorded on the device from which the sender sent the email)
 unless the sender receives an automated message that the email has not been delivered,

whichever happens first,

but if the delivery or receipt is on a day which is not a Business Day or is after 5.00pm (addressee's time) it is regarded as received at 9.00am on the following Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In this clause a reference to an addressee
 includes a reference to an addressee's officers, agents or employees or a person reasonably
 believed by the sender to be an officer, agent or employee of the addressee.

**8.2** **Confidentiality** 

The Noteholder agrees to comply with [any] [the] terms of the confidentiality [arrangements] [deed] entered into between [AgCentral Pty Ltd] [Nabors Energy Transition Corp.] and the Company [on or about 19 August 2022].

---

| | |
|:---|:---|
| Gilbert + Tobin | page \| **6** |

---

**8.3** **Jurisdiction** 

This agreement is governed by the laws of New South Wales.

**8.4** **Arbitration** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Any dispute, controversy or claim arising
 out of, relating to or in connection with this Subscription Agreement, including any question
 regarding its existence, validity or termination must be referred to and finally resolved
 by arbitration in accordance with the Singapore International Arbitration Centre Rules (as
 currently adopted).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The appointing authority shall be the
 President of the Court of Arbitration of the Singapore International Arbitration Centre.

**8.5** **Invalidity** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If a provision of this agreement, or
 a right or remedy of the Company or a Noteholder is invalid or unenforceable in a particular
 jurisdiction:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) it is read down or severed in that jurisdiction
 only to the extent of the invalidity or unenforceability; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) it does not affect the validity or
 enforceability of that provision in another jurisdiction or the remaining provisions in any
 jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) This clause is not limited by any other
 provision of this agreement in relation to severability, invalidity or unenforceability.

**8.6** **Variation** 

No variation of this agreement is effective unless made in writing and signed by each party.

**8.7** **Cumulative rights** 

The rights and remedies of a party under this agreement do not exclude any other right or remedy provided by law.

**8.8** **Non-merger** 

No provision of this agreement merges on completion of any transaction contemplated by this agreement.

**8.9** **Payments** 

A payment which is required to be made under this agreement must be paid in Immediately Available Funds and in US$.

**8.10** **Counterparts** 

This agreement may be signed in any number of counterparts and all those counterparts together make one instrument.

---

| | |
|:---|:---|
| Gilbert + Tobin | page \| **7** |

---

**8.11** **Further assurances** 

Except as expressly provided in this agreement, each party must, at its own expense, do all things reasonably necessary to give full effect to this agreement and the matters contemplated by it.

---

| | |
|:---|:---|
| Gilbert + Tobin | page \| **8** |

---

------

**Schedule 1 — Dictionary**

------

---

| | |
|:---|:---|
| **1** | **Dictionary** |

---

In this agreement:

**Business Day** means a day on which banks are open for business in Sydney, Australia, excluding a Saturday, Sunday or public holiday.

**Convertible Note Deed Poll** means the convertible note deed poll executed by the Company on or around the date of this agreement.

**Corporations Act** means *Corporations Act 2001* (Cth).

**Draw Down Notice** means a notice from the Company to the Noteholder, requiring the Noteholder to subscribe for its Tranche [One Notes or its Tranche] Two Notes [(as applicable)], in the form set out in Schedule 2.

**Exit Event** has the meaning given in the Convertible Note Deed Poll.

**Government Agency** means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) a government, whether foreign, federal,
 state, territorial or local;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a department, office or minister of
 a government acting in that capacity; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) a commission, delegate, instrumentality,
 agency, board or other governmental, or semi-governmental judicial, administrative, monetary
 or fiscal authority, whether stator or not.

**GST** means goods and services tax under the GST Law.

**GST Law** has the same meaning as in *A New Tax System (Goods and Services Tax) Act 1999*.

**Immediately Available Funds** means cash, bank cheque or telegraphic or other electronic means of transfer of cleared funds into a bank account in clear funds without deduction, set-off or counterclaim unless expressly authorised by the terms of this agreement.

**Investor Deed** means the investor deed in relation to the Company, between the Company, [Nabors Lux 2 S.a.r.l.] [AgCentral Pty Ltd] and the Noteholder dated on or about the date of this agreement.

**Note Terms** means the terms of the Notes described in Schedule 1 of the Convertible Note Deed Poll.

**Noteholder** means [AgCentral Energy Pty Ltd (CAN 665 472 711) [Nabors Lux 2 S.a.r.l].

**Notes** means the convertible notes to be issued by the Company under this agreement with the rights described in the Note Terms.

**Security Interest** means a right, interest, power or arrangement in relation to an asset which provides security for the payment or satisfaction of a debt, obligation or liability including without limitation under a bill of sale, mortgage, charge, lien, pledge, trust, power, deposit, hypothecation or arrangement for retention of title, and includes an agreement to grant or create any of those things.

---

| | |
|:---|:---|
| Gilbert + Tobin | **Schedule 1** – Dictionary \| page \| **9** |

---

**Tranche One Completion** means completion of the subscription for the Tranche One Notes by the Noteholder pursuant to clause [2] [3] of this agreement.

**Tranche One Completion Date** means the date of Tranche One Completion.

**Tranche One Notes** means the 2,500,000 Notes to be issued by the Company under clause 3.5(b)(i) of this agreement.

**Tranche One Subscription Amount** means US$2,500,000, being 2,500,000 Notes multiplied by the Note issue price of US$1 per Note.

**Tranche Two Completion** means completion of the subscription for the Tranche Two Notes by the Noteholder pursuant to clause 4 of this agreement.

**Tranche Two Completion Date** means the date of Tranche Two Completion.

**Tranche Two Notes** means the 2,500,000 Notes to be issued by the Company under clause 4.5(b)(i) of this agreement.

**Tranche Two Subscription Amount** means US$2,500,000, being 2,500,000 Notes multiplied by the Note issue price of US$1 per Note.

------

---

| | |
|:---|:---|
| **2** | **Interpretation** |

---

In this agreement the following rules of interpretation apply unless the contrary intention appears:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) headings are for convenience only and
 do not affect the interpretation of this agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the singular includes the plural and
 vice versa;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) words that are gender neutral or gender
 specific include all genders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) where a word or phrase is given a particular
 meaning, other parts of speech and grammatical forms of that word or phrase have corresponding
 meanings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the words 'such as', 'including', 'particularly'
 and similar expressions are not used as, nor are they intended to be, interpreted as words
 of limitation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) a reference to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a person includes a natural person,
 partnership, joint venture, government agency, association, corporation or other body corporate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a thing (including, but not limited
 to, a chose in action or other right) includes a part of that thing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) a party includes its successors and
 permitted assigns;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) a document includes all amendments
 or supplements to that document;

---

| | |
|:---|:---|
| Gilbert + Tobin | **Schedule 1** – Dictionary \| page \| **10** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) a clause, term, party, schedule or attachment
 is a reference to a clause or term of, or party, schedule or attachment to this agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) this agreement includes all schedules
 and attachments to it;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) a law includes a constitutional provision,
 treaty, decree, convention, statute, regulation, ordinance, by-law, judgment, rule of
 common law or equity or a rule of an applicable financial market and is a reference
 to that law as amended, consolidated or replaced;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) an agreement other than this agreement
 includes an undertaking, or legally enforceable arrangement or understanding, whether or
 not in writing; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) a monetary amount is in United States
 dollars;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) an agreement on the part of two or
 more persons binds them severally;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) when the day on which something must
 be done is not a Business Day, that thing must be done on the following Business Day;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) in determining the time of day, where
 relevant to this agreement, the relevant time of day is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) for the purposes of giving or receiving
 notices, the time of day where a party receiving a notice is located; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) for any other purpose under this agreement,
 the time of day in the place where the party required to perform an obligation is located;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) no rule of construction applies
 to the disadvantage of a party because that party was responsible for the preparation of
 this agreement or any part of it.

---

| | |
|:---|:---|
| Gilbert + Tobin | **Schedule 1** – Dictionary \| page \| **11** |

---

------

**Schedule 2 Form of Draw Down Notice**

------

To: [ ]

(**Noteholder**)

**Draw Down Notice**

We refer to the Convertible Note Subscription Agreement between the Noteholder and Vast Solar Pty Ltd (ACN 136 258 574) dated [***insert***] 2023 (**Subscription Agreement**).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This is a Draw Down Notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) We require Noteholder to subscribe
 for 2,500,000 Convertible Notes with an aggregate value of US$2,500,000 (**Subscription**).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) This Subscription will be undertaken
 in accordance with the terms of the Subscription Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) This Draw Down Notice is irrevocable.

Unless otherwise indicated, capitalised terms used in this Draw Down Notice have the same meaning as in the Subscription Agreement.

Dated:

**Executed as a deed poll.**

---

| | |
|:---|:---|
| Signed, sealed and delivered by **Vast Solar Pty Ltd** in accordance with section 127 of the *Corporations Act 2001* (Cth) and by: |  |
| Signature of director | Signature of director/secretary |
| Name of director (print) | Name of director/secretary (print) |

---

---

| | |
|:---|:---|
| Gilbert + Tobin | **Schedule 2** – Dictionary \| page \| **12** |

---

**Execution page**

**Signed as an agreement.**

**Company**

---

| | |
|:---|:---|
| Signed, by **Vast Solar Pty Ltd** in accordance with section 127 of the *Corporations Act 2001* (Cth) and by: |  |
| Signature of director | Signature of director/secretary |
| Name of director (print) | Name of director/secretary (print) |

---

**Noteholder**

Executed by

---

| | |
|:---|:---|
| Gilbert + Tobin | **Execution** \| page \| **13** |

---

## Exhibit 99.6

**Exhibit 99.6**

**Dated __________________________ 2023**

**Noteholder Support and Loan Termination Agreement**

between

**Vast Solar Pty Ltd**

(Company)

and

**AgCentral Energy Pty Limited**

(Existing Noteholder)

1. Definitions 1

2. Conversion of Convertible Notes 5

3. Termination and Release 5

4. Transfers by Existing Noteholder 6

5. Assignment 7

6. Preservation of Rights 7

7. Notices 7

8. Costs 7

9. General 8

(i) **This Deed** is made on __________________________ 2023

**Between:**

**(1)** **Vast Solar Pty Ltd** (ACN 136 258 574) of 226 Liverpool Street, Darlinghurst, NSW, 2010 (the
 "**Company** "); and

**(2)** **AgCentral Energy Pty Ltd** (ACN 665 472 711) of 226 Liverpool Street, Darlinghurst, NSW, 2010 (the
 "**Existing Noteholder** ").

**Recitals**

(A) The Company
 and the Existing Noteholder are parties to the Convertible Note Funding Agreements, pursuant
 to which the Company issued the Convertible Notes to the Existing Noteholder.

(B) The Company
 and the Existing Noteholder are parties to the Short Term Loan Agreements, pursuant to which
 the Existing Noteholder provided loans to the Company.

(C) The Company
 and the Existing Noteholder have agreed to convert all of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the Convertible
 Notes held by the Existing Noteholder and;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the Principal
 Outstanding and accrued interest under the Short Term Loan Agreements,

into Shares in the Company at the Effective Time, and following such conversion, to terminate the Finance Documents, subject to the terms and conditions of this Deed.

(D) The Company
 has executed the General Security Deed in favour of the Existing Noteholder to secure repayment
 of any Secured Moneys (as defined therein) owing or payable by the Company to the Existing
 Noteholder under any Finance Document.

(E) The Existing
 Noteholder has agreed to release its Security Interest over the Released Property and terminate
 the General Security Deed subject to the terms and conditions of this Deed.

This Deed witnesses that, for valuable consideration, the receipt and sufficiency of which is acknowledged, the parties agree as follows:

**1.** **Definitions** 

**1.1** **Definitions** 

The following definitions apply unless the context requires otherwise.

"**Business Combination Agreement**" means the agreement entitled "Business Combination Agreement" dated on or around the date of this Deed, among the Company, Nabors Energy Transition Corp., Nabors Energy Transition Sponsor LLC and Nabors Industries Ltd.

"**Business Day**" means a day on which banks are open for business in Sydney, New South Wales excluding a Saturday, Sunday, public holiday or any other day as determined by the parties to this Deed.

"**Closing**" has the meaning given to it in the Business Combination Agreement.

"**Collateral**" means all of the Company's present and after-acquired property. It includes anything in respect of which the Company has at any time a sufficient right, interest or power to grant a Security Interest.

"**Company Split Adjustment**" has the meaning given to it in the Business Combination Agreement.

"**Convertible Note**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) each Convertible
 Note No. 3;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) each Convertible
 Note No. 4; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) each Convertible
 Note No. 5,

and includes each Convertible Note issued under clause 2(a)(i) (*Conversion of Convertible Notes*).

"**Convertible Note Funding Agreement**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the First
 Funding Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Second
 Funding Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Third
 Funding Agreement.

"**Convertible Note No. 3**" means each convertible loan note issued by the Company to the Existing Noteholder under the First Funding Agreement.

"**Convertible Note No. 4**" means each convertible loan note issued by the Company to the Existing Noteholder under the Second Funding Agreement.

"**Convertible Note No. 5**" means each convertible loan note issued by the Company to the Existing Noteholder under the Third Funding Agreement.

"**Effective Time**" means the time occurring immediately prior to the occurrence of the Company Split Adjustment.

"**Event of Default**" means in respect of a Convertible Note Funding Agreement, an "Event of Default" under and as defined in the relevant Convertible Note Funding Agreement.

"**Facility Agreement**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) each Convertible
 Note Funding Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) each Short
 Term Loan Agreement.

"**Finance Document**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) each Facility
 Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the General
 Security Deed; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) each other
 document defined in a Facility Agreement as a "Finance Document".

"**First Funding Agreement**" means the funding agreement dated on or about 18 January 2016 originally between Twynam Investments Pty Ltd (*formerly Twynam Agricultural Group Pty Limited*) (ACN 000 573 213) (**Twynam**) and the Company pursuant to which the Company issued Convertible Notes No. 3, as novated from Twynam to the AgCentral Pty Ltd (**AgCentral**) pursuant to the "*Deed of novation*" between Twynam, AgCentral and the Company dated on or about the date of this deed and further novated pursuant to the "*Deed of novation*" between AgCentral, the Company and the Existing Noteholder dated on or about the date of this deed.

"**General Security Deed**" means the general security deed dated 31 May 2018 between the Company and AgCentral, as novated pursuant to the "*Deed of novation*" between AgCentral, the Company and the Existing Noteholder dated on or about the date of this deed.

"**PPSA**" means the *Personal Property Securities Act 2009* (Cth).

"**Principal Outstanding**" means in respect of a Short Term Loan Agreement, the principal outstanding (howsoever described) under the relevant Short Term Loan Agreement.

"**Released Property**" means all Collateral of the Company which is the subject, or expressed to be the subject, of the General Security Deed.

"**Second Funding Agreement**" means the funding agreement originally dated 23 November 2017 between the Company and AgCentral pursuant to which the Company issued Convertible Notes No. 4, as novated pursuant to the "*Deed of novation*" between AgCentral, the Company and the Existing Noteholder dated on or about the date of this deed.

"**Security Interest**" means a mortgage, charge, pledge, lien or other security interest securing any obligation of any person or any other agreement, notice or arrangement having a similar effect, including any "security interest" under sections 12(1) or (2) of the PPSA but excluding anything which is a Security Interest by operation of section 12(3) of the PPSA which does not (in either case) in substance secure payment or performance of an obligation.

"**Shares**" means fully paid ordinary shares in the capital of the Company.

"**Short Term Loan Agreement**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the loan
 agreement originally dated 17 March 2022 between the Company and AgCentral, as amended
 on 28 June 2022 and as novated pursuant to the "*Novation Deed*" between
 AgCentral, the Company and the Existing Noteholder dated on or about the date of this deed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the loan
 agreement originally dated 29 April 2022 between the Company and AgCentral, as amended
 on 28 June 2022 and as novated pursuant to the "*Novation Deed*" between
 AgCentral, the Company and the Existing Noteholder dated on or about the date of this deed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the loan
 agreement originally dated 30 May 2022 between the Company and AgCentral, as amended
 on 28 June 2022 and as novated pursuant to the "*Novation Deed*" between
 AgCentral, the Company and the Existing Noteholder dated on or about the date of this deed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the loan
 agreement originally dated 15 June 2022 between the Company and AgCentral, as novated
 pursuant to the "*Novation Deed*" between AgCentral, the Company and the
 Existing Noteholder dated on or about the date of this deed; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the loan
 agreement originally dated 19 September 2022 between the Company and AgCentral, as novated
 pursuant to the "*Novation Deed*" between AgCentral, the Company and the
 Existing Noteholder dated on or about the date of this deed.

"**Third Funding Agreement**" means the funding agreement originally dated 14 July 2020 between the Company and AgCentral pursuant to which the Company issued Convertible Notes No. 5, as novated pursuant to the "*Deed of novation*" between AgCentral, the Company and the Existing Noteholder dated on or about the date of this deed.

**1.2** **Interpretation** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Headings
 are for convenience only and do not affect interpretation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A reference
 to a *right* or *obligation* of any two or more people comprising a single party
 confers that right, or imposes that obligation, as the case may be, is joint and several.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Mentioning
 anything after *includes*, *including*, *for example*, or similar expressions,
 does not limit what else might be included.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Nothing
 in this Deed is to be interpreted against a party solely on the ground that the party put
 forward this Deed or any part of it.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The following
 rules apply unless the context requires otherwise:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the singular
 includes the plural, and the converse also applies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a gender
 includes all genders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) if a word
 or phrase is defined, its other grammatical forms have a corresponding meaning;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) a reference
 to a *person* includes a corporation, trust, partnership, unincorporated body or other
 entity, whether or not it comprises a separate legal entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) a reference
 to a clause or schedule is a reference to a clause of or a schedule of this Deed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) a reference
 to an Deed or document (including a reference to this Deed) is to the Deed or document as
 amended, supplemented, novated or replaced except to the extent prohibited by this Deed or
 that other agreement or document;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) a reference
 to writing includes any method of representing or reproducing words, figures, drawings, or
 symbols in a visible or tangible form including a communication by electronic mail;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) a reference
 to a party to this Deed or another agreement or document includes the party's successors,
 permitted substitutes and permitted assigns (and, where applicable, the party's legal
 personal representatives);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) a reference
 to legislation or to a provision of legislation includes a modification or re-enactment of
 it, a legislative provision substituted for it and a regulation or statutory instrument issued
 under it; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) a reference
 to *dollars* and *$* and *AU$* is to Australian currency.

**1.3** **Facility Agreement Definitions** 

Unless the context requires otherwise or otherwise defined in this Deed, a term defined in a Facility Agreement (including by incorporation) has the same meaning when used in this Deed.

**1.4** **Conflict** 

The parties acknowledge and agree that if there is a conflict between the Finance Documents and this Deed, the terms of this Deed prevail.

**2.** **Conversion of Convertible Notes** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Existing
 Noteholder and the Company irrevocably acknowledge and agree that at the Effective Time the
 Company will:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) repay all
 accrued interest under:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) the First
 Funding Agreement through the issuance of Convertible Notes No. 3 at the rate of one
 Convertible Note No. 3 for each $349.34 of accrued interest;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) the Second
 Funding Agreement through the issuance of Convertible Notes No. 4 at the rate of one
 Convertible Note No. 4 for each $17.68 of accrued interest; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) the Third
 Funding Agreement through the issuance of Convertible Notes No. 5 at the rate of one
 Convertible Note No. 5 for each $0.01 of accrued interest,

or such other rate as agreed between the Existing Noteholder and the Company prior to the Effective Time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) redeem all
 Convertible Notes (including those issued under clause 2(a)(i)) and the Company shall issue
 to the Existing Noteholder one Share for each Convertible Note so redeemed or such other
 amount of Shares as agreed between the Existing Noteholder and the Company prior to the Effective
 Time; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) repay all
 the Principal Outstanding and all accrued interest up to and including the date on which
 the Effective Time occurs under each Short Term Loan Agreement through the issuance of Shares
 to the Existing Noteholder with the amount of such Shares to be agreed between the Existing
 noteholder and the Company prior to the Effective Time and which Shares shall be issued by
 the Company at the Effective Time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Shares
 issued pursuant to clause 2(a) shall rank equally with the other fully paid Shares of
 the Company from the date of issuance of such Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding
 any other provision of this Deed, by executing this Deed, each party is deemed to have provided
 all consents, given all directions and waived all notices, notice periods and other requirements
 set out in the Finance Documents necessary to effect each of the steps contemplated by this
 clause 2

**3.** **Termination and Release** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) On and from
 the Effective Time, the Existing Noteholder and the Company irrevocably acknowledge and agree
 that the Existing Noteholder and the Company releases and discharges each other from all
 of its respective claims and liabilities arising from or in connection with each Finance
 Document on or after the Effective Time, including its termination under this Deed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) On and from
 the Effective Time, the Existing Noteholder irrevocably acknowledges and agrees that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Company
 is released from all of its present and future obligations, covenants, guarantees and liabilities
 under the Finance Documents; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) notwithstanding
 any notification or other requirement under a Finance Document relating to its termination
 or discharge, each Finance Document is terminated, other than any obligations expressly stated
 under a Finance Document to survive any such termination or discharge.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) On and from
 the Effective Time, the Existing Noteholder absolutely, unconditionally and irrevocably (without
 representation, warranty or recourse, whether express or implied):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) discharges
 and releases its right, title and interest, including the Security Interest, in and to the
 Released Property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) reassigns
 and/or retransfers to the Company any Released Property that was assigned, charged and/or
 transferred by way of security to the Existing Noteholder under or in connection with the
 General Security Deed; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) cancels,
 terminates and revokes each other power of attorney or proxy, or submission to enforcement
 granted to it by the Company under the General Security Deed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The releases
 in clauses 3(a), 3(b) and 3(c) operate on and from the Effective Time without the
 need for any further action or document and the Existing Noteholder acknowledges and irrevocably
 agrees that such releases may be pleaded in bar to any suit, action or legal proceeding by
 the Existing Noteholder against the Released Property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Existing
 Noteholder agrees to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) deliver to
 the Company any title documents and any signed transfer forms relating to such title documents
 delivered by the Company to it under, or in connection with, the General Security Deed, to
 which it is a party, that are in its possession and which relate to the Released Property
 on the Effective Time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) promptly
 following the Effective Time register financing change statements on the PPSR to reflect
 the releases under clause 3(c) and end all registrations made on the PPSR in favour
 of the Existing Noteholder (including registration number 201806040054018); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) following
 completion of the steps contemplated by clauses 2 and 3 ()"**Conversion Steps** "),
 deliver to the Company a letter addressed to the Company, in form and substance reasonably
 satisfactory to the Company, certifying that the Conversion Steps have been completed.

**4.** **Transfers by Existing Noteholder** 

The Existing Noteholder irrevocably acknowledges and agrees not to assign, novate, dispose or transfer its Convertible Notes, its rights under any Short Term Loan Agreement or Shares, on or prior to the earlier of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Closing;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) termination
 or expiry of the Business Combination Agreement in accordance with its terms.

**5.** **Termination** 

This deed automatically terminates and is of no further force or effect immediately upon termination or expiry of the Business Combination Agreement in accordance with its terms.

**6.** **Assignment** 

Neither party may assign, novate or otherwise transfer its rights or obligations under this Deed without the consent of the other party.

**7.** **Preservation of Rights** 

The releases provided in this Deed take effect on and from the Effective Time, and for the avoidance of doubt, this Deed does not prohibit, impair or otherwise affect any rights of the Existing Noteholder under the Finance Documents prior to the Effective Time.

**8.** **Notices** 

Any notice, demand, consent or other communication ("**Notice**") given or made under this Deed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) must be
 given in writing and in English;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) must be
 signed by the sender or a person authorised to sign on behalf of the sender; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) must be
 addressed and delivered to the intended recipient at the address below or the address last
 notified by the intended recipient to the sender after the date of this Deed, with a copy
 to the email address below or the email address last notified by the intended recipient to
 the sender after the date of this Deed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) to the Existing
 Noteholder:

Attention: Colin Sussman

Address: 226 Liverpool Street, Darlinghurst, NSW, 2010

Email: [\*\*\*]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) to the Company:

Attention: Craig Wood

Address: 226 Liverpool Street, Darlinghurst, NSW, 2010

Email: [\*\*\*]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) will be
 conclusively taken to be duly given or made and received:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) in the case
 of delivery in person, when delivered;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) in the case
 of delivery by express post, to an address in the same country, two (2) Business Days
 after the date of posting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) in the case
 of delivery by any other method of post, six (6) Business Days after the date of posting
 (if posted to an address in the same country) or ten (10) Business Days after the date
 of posting (if posted to an address in another country); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) in the case
 of email, at the earliest of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) the time
 that the sender receives an automated message from the intended recipient's information
 system confirming delivery of the email;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) the time
 that the intended recipient confirms receipt of the email by reply email; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) three (3) hours
 after the time the email is sent (as recorded on the device from which the sender sent the
 email) unless the sender receives, within that three-hour period, an automated message that
 the email has not been delivered,

but if delivery occurs on a day which is not a Business Day in the place to which the Notice is sent or is later than 5pm at that place, it will be conclusively taken to have been duly given or made at the commencement of business on the next Business Day in that place.

**9.** **Costs** 

Each party must pay its own costs and expenses for preparing, negotiating, executing and completing this Deed and any document related to this Deed unless otherwise set out in this Deed.

**10.** **General** 

**10.1** **Variation** 

No variation of this Deed will be of any force or effect unless it is in writing and signed by each party to this Deed.

**10.2** **No waiver** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) No waiver
 of a right or remedy under this Deed is effective unless it is in writing and signed by the
 party granting it. It is only effective in the specific instance and for the specific purpose
 for which it is granted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A single
 or partial exercise of a right or remedy under this Deed does not prevent a further exercise
 of that or of any other right or remedy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Failure
 to exercise or delay in exercising a right or remedy under this Deed does not operate as
 a waiver or prevent further exercise of that or of any other right or remedy.

**10.3** **Assignment and Transfers** 

This Deed continues for the benefit of and binds each party and its successors in title including a third party to whom a party's rights and obligations are assigned or transferred in accordance with this Deed.

**10.4** **Counterparts** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Deed
 may be executed in any number of counterparts. All counterparts will be taken to constitute
 one instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each party
 consents to the exchange of counterparts of this Deed by delivery by email or such other
 electronic means as may be agreed in writing.

**10.5** **Severability of Provisions** 

Any provision of this Deed that is prohibited or unenforceable in any jurisdiction is ineffective as to that jurisdiction to the extent of the prohibition or unenforceability. That does not invalidate the remaining provisions of this Deed nor affect the validity or enforceability of that provision in any other jurisdiction.

**10.6** **No Merger** 

The rights and obligations of the parties will not merge on the completion of any transaction contemplated by this Deed. They will survive the execution and delivery of any assignment or other document entered into for the purpose of implementing any such transaction.

**10.7** **Further Action** 

Each party must do all things (including completing and signing all documents) reasonably requested by the other party that are necessary to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) bind the
 party and any other person intended to be bound by this Deed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) show that
 it is complying with this Deed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) give full
 effect to this Deed and the transactions contemplated by this Deed,

and use its reasonable endeavours to procure that any third parties do the same.

**10.8** **Exercise of rights** 

Any party may make any consent or approval required to be given by it under or in connection with this deed, or a waiver of any of its rights, powers, authority, discretion or remedies arising under or in connection with this deed, subject to conditions that must be complied with by the party seeking to rely upon the consent, approval or waiver.

**10.9** **Entire Agreement** 

This Deed and any document referred to in this Deed contains everything the parties have agreed in relation to the subject matter it deals with. No party can rely on an earlier written document or anything said or done by or on behalf of another party before this Deed was executed.

**10.10** **Time is of the essence** 

Time is of the essence in relation to the performance by the parties of all of their obligations set out in this Deed.

**10.11** **No agency, partnership or other relationship** 

Except as expressly provided in this Deed, no party is an agent, representative, trustee, employee or partner of any other party by virtue of this Deed and no party may represent itself as such in any circumstances.

**10.12** **Rules of construction** 

No rule of construction applies to the disadvantage of a party because that party was responsible for the preparation of, or seeks to rely on, this Deed or any part of it.

**10.13** **Conflict of interest** 

Each party may exercise their rights, powers and remedies in connection with this Deed even if this involves a conflict of duty or they have a personal interest in their exercise.

**10.14** **Governing Law and Jurisdiction** 

This Deed is governed by the laws of New South Wales. Each party submits to the non-exclusive jurisdiction of the courts of that place.

**10.15** **Electronic execution** 

Each party warrants that immediately prior to entering into this Deed, it has unconditionally consented to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the requirement
 for a signature under any law being met; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any other
 party to this Deed executing it,

by any method of electronic signature that other party uses (at that other party's discretion), including signing on an electronic device or by digital signature.

**Executed and delivered as a Deed**

Each attorney executing this Deed states that he or she has no notice of revocation or suspension of his or her power of attorney.

**Existing Noteholder**

---

| | |
|:---|:---|
| **Signed, sealed and delivered** for **AgCentral Energy Pty Ltd** in accordance with section 127 of the *Corporations Act 2001* (Cth) and by: |  |
| /s/ John Igino Kahlbetzer | /s/ Colin Raymond Sussman |
| Signature of director | Signature of director/secretary |

---

<u>John Igino Kahlbetzer</u> <u>Colin Raymond Sussman</u> <br> Name of director Name of director/secretary

**Company**

---

| | |
|:---|:---|
| **Signed, sealed and delivered** for **Vast Solar Pty. Ltd** in accordance with section 127 of the *Corporations Act 2001* (Cth) and by: |  |
| /s/ John Igino Kahlbetzer | /s/ Colin Raymond Sussman |
| Signature of director | Signature of director/secretary |

---

<u>John Igino Kahlbetzer</u> <u>Colin Raymond Sussman</u> <br> Name of director Name of director/secretary