Nabors Energy Transition Corp. II Prices 30M Unit IPO at $10/unit

Nabors Energy Transition Corp. II (the “Company”) announced today the pricing of its initial public offering (the “IPO”) of 30,000,000 units at a price of $10.00 per unit. The units will be listed on The Nasdaq Global Market (“Nasdaq”) and trade under the ticker symbol “NETDU” beginning on July 14, 2023. Each unit consists of one Class A ordinary share of the Company and one-half of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share of the Company at an exercise price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols “NETD” and “NETDW,” respectively. The IPO is expected to close on July 18, 2023, subject to customary closing conditions.

Citigroup and Wells Fargo Securities are acting as joint book-running managers and representatives of the underwriters for the IPO. The Company has granted the underwriters a 45-day option to purchase up to an additional 4,500,000 units at the IPO price to cover over-allotments, if any.

The IPO will only be made by means of a prospectus. Copies of the preliminary prospectus relating to the IPO and final prospectus, when available, may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 1-800-831-9146, or Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, NY 10001, by telephone at 833-690-2713 or by email at [email protected].

A registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (the “SEC“) on July 13, 2023. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.