Energy Vault Holdings Inc

(a) Disclosure in lieu of reporting on a Current Report on Form 8-K.

On April 5, 2024, we entered into a retention bonus agreement with Akshay Ladwa, the Company’s Chief Engineering Officer, in an aggregate amount equal to $150,000, which will be payable in substantially equal installments on or before April 15, 2024, July 15, 2024, and October 15, 2024, subject to his continued service on each payment date and may be subject to repayment if Mr. Ladwa’s employment with the Company terminates for any reason within 12 months following each applicable payment date.

On May 1, 2024, the Board approved a discretionary cash bonus payable to Robert Piconi, the Company’s Chief Executive Officer, in an aggregate amount equal to $279,450, which will be payable in equal installments on or shortly following April 15, 2025, July 15, 2025, and October 15, 2025, subject to his continued service on each payment date and subject to repayment if Mr. Piconi’s employment with the Company terminates for any reason within 12 months following each applicable payment date.

(b) Material changes to the procedures by which security holders may recommend nominees to the board of directors.

None.

(c) Insider trading arrangements and policies.

During the three months ended March 31, 2024, 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) of Regulation S-K.