Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On June 25, 2024, Colin Richardson was appointed as a member of the board of directors (the “Board”) of Nabors Energy Transition Corp. II (the “Company”). The Board has determined that Mr. Richardson is an “independent director” as defined in The Nasdaq Stock Market Rules and applicable U.S. Securities and Exchange Commission (the “SEC”) rules and regulations. Mr. Richardson will serve on the audit committee. Colin Richardson has served as a director of Vast Renewables Limited (Nasdaq: VSTE) since December 2023 and has served as a Managing Director at MA Financial Australia since 2013. He also sits on various investment committees for funds managed by MA Financial Group and is Chairman of MA Money, a residential mortgage origination company within the MA Financial Group. Mr. Richardson has over three decades of investment banking experience advising clients on mergers and acquisitions and strategic advisory transactions across a variety of industries. Mr. Richardson was previously a Managing Director at Rothschild, a Managing Director and Head of M&A for Australia and New Zealand at Citigroup and a Managing Director in M&A at Deutsche Bank. Prior to joining Deutsche Bank, Mr. Richardson worked at SG Hambros, formerly known as Hambros Bank, in Australia and London. He served on the board of Hockey NSW for three years, followed by three years on the board of Hockey Australia. He was also the inaugural Chair of Hockey 1, which is Australia’s premier domestic hockey competition. Mr. Richardson also holds positions on the boards of various Twynam Group Companies. Mr. Richardson holds a B.A. from Hull University. The Company believes Mr. Richardson’s extensive skill and experience in strategic advisory, mergers and acquisitions and finance, coupled with his leadership and managerial expertise in the financial and energy industries (among others), adds significant value and depth of insight to the Board and its audit committee. There are no arrangements or understandings between Mr. Richardson or any other person pursuant to which he was elected director. The Company is not aware of any transaction in which Mr. Richardson has an interest requiring disclosure under Item 404(a) of Regulation S-K. In connection with his appointment to the Board, Mr. Richardson joined the letter agreement, dated July 13, 2023 (the “Letter Agreement”), by and among the Company, its officers and directors, Nabors Energy Transition Sponsor II LLC (the “Sponsor”) and the other parties thereto, by entering into an Insider Letter Acknowledgment and Agreement, dated June 25, 2024. The full text of the Letter Agreement is filed as