Energy Vault Holdings Inc

During the three months ended December 31, 2023, no director or officer of the Company adopted orterminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) if Regulation S-K.

On March 6, 2024, the Compensation Committee approved retention bonuses for each of Messrs. Piconi, Terruzzin and McMorrow of $300,000, $120,000 and $150,000, respectively, which will be paid (subject to their continued employment) in equal installments on or before April 15, July 15 and October 15 in 2024, and which amounts will be subject to repayment if the executive’s employment with the company terminates for any reason within 12 months following each applicable payment date.

On March 6, 2024, Energy Vault, Inc. entered into a consulting agreement (the “Consulting Agreement”) with Zia Huque. Pursuant to the Consulting Agreement, Mr. Huque will perform ad hoc consulting services and provide business management advice to Energy Vault, Inc.’s board of directors as required by management or the Board from time to time. In exchange for his services, Mr. Huque will remain eligible to vest in restricted stock units previously granted to him based on his continued service. The Consulting Agreement expires on October 31, 2025, unless terminated earlier as provided therein.