Nexus Energy

Hi all,

It is with frustration and disappointment that we advise that J Black in the Supreme Court of NSW today granted approval for the DOCA to proceed. As you aware, ASIC has already approved the DOCA subject to the Courts approval. We feel this represents a bitter blow and injustice for all retail holders in Nexus Energy.

NBT have worked hard for the last nine months to keep this contentious deal front and centre in the media. We thank all our contacts within the media for supporting our cause with generous coverage.

There is some discussion of an appeal or further separate action, however, NBT is not aware of the details of this at this stage. We will endeavour to advise on any updates moving forward.

For all the shareholders that rallied around this cause and supported us, we offer our sincere apologies that the outcome was not a more favourable one - a large number of everyday people have collectively lost a lot of money as a result of this judgement and the performance of Nexus Energy over the last two years. To have this news delivered on Christmas Eve is further salt in an already swollen wound.

We wish you all the best for the festive season and hope that you can put this aside while you spend time with your families and people that matter.

All the best
NBT